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v3.22.1

Warrant Liability (Tables) | 12 Months Ended
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Dec. 31, 2021
Warrant Liability. |
Schedule of warrant liability | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ |  |  | ​ |  |  |  |  |  |  |  |  | ​ |  | Future
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
​ | ​ | ​ | ​ | ​ | Warrant | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Time to | ​ | Calculated | ​ | Quarterly
​ | ​ | Exercise | ​ | Expiration | ​ | ​ | ​ | ​ | Interest Rate | ​ | Volatility | ​ | Maturity | ​ | fair value | ​ | Dividend
Black -Scholes Assumptions |  | Price |  | Date |  | Stock Price (8) |  | (annual) (9) |  | (annual) (10) |  | (Years) |  | per share |  | per share(11)
September 2, 2021(1) | ​ | $ | .0525 | ​ | September 2, 2026 | ​ | $ | 3.50 |  | 0.78 | % | 182.74 | % | 5.0 | ​ | $ | 0.3325 | ​ | $ | —
March 11, 2021(2) | ​ | $ | 4.375 – 5.25 | ​ | March 11, 2026 | ​ | $ | 3.50 |  | 0.17 | % | 172.54 | % | 5.0 | ​ | $ | 0.3325 - 0.0329 | ​ | $ | —
February 3, 2021(3) | ​ | $ | 2.80 | ​ | February 3, 2024 | ​ | $ | 2.80 |  | 0.18 | % | 171.71 | % | 3.0 | ​ | $ | 2.417461 | ​ | $ | —
December 24, 2020(4) | ​ | $ | 2.80 | ​ | December 24, 2023 | ​ | $ | 2.80 |  | 0.17 | % | 172.54 | % | 3.0 | ​ | $ | 2.422658 | ​ | $ | —
March 18, 2020(5) | ​ | $ | 1.40 | ​ | March 18, 2023 | ​ | $ | 1.40 |  | 0.66 | % | 137.41 | % | 3.0 | ​ | $ | 1.075547 | ​ | $ | —
September 10, 2019(6) | ​ | $ | 0.49 | ​ | September 10, 2022 | ​ | $ | 0.49 |  | 1.61 | % | 139.84 | % | 3.0 | ​ | $ | 0.38185 | ​ | $ | —
November 6, 2019(7) | ​ | $ | 0.49 | ​ | November 6, 2022 | ​ | $ | 0.49 |  | 1.60 | % | 138.48 | % | 3.0 | ​ | $ | 0.38255 | ​ | $ | —
​ Significant inputs into the model at the reporting period measurement dates are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ |  |  | ​ |  |  |  |  |  |  |  |  | ​ |  | Future
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
​ | ​ | ​ | ​ | ​ | Warrant | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Time to | ​ | Calculated | ​ | Quarterly
​ | ​ | Exercise | ​ | Expiration | ​ | ​ | ​ | ​ | Interest Rate | ​ | Volatility | ​ | Maturity | ​ | fair value | ​ | Dividend
Black-Scholes Assumptions |  | Price |  | Date |  | Stock Price (8) |  | (annual) (9) |  | (annual) (10) |  | (Years) |  | per share |  | per share(11)
December 31, 2021(1) | ​ | $ | .0525 | ​ | September 2, 2026 | ​ | $ | 3.50 |  | 0.98 | % | 205.16 | % | 4.67 | ​ | $ | 0.0968371 | ​ | $ | —
December 31, 2021(2) | ​ | $ | 4.375 – 5.25 | ​ | March 11, 2026 | ​ | $ | 3.50 |  | 0.98 | % | 205.16 | % | 4.19 | ​ | $ | 0.096101 - 0.0957467 | ​ | $ | —
December 31, 2021(3) | ​ | $ | 2.80 | ​ | February 3, 2024 | ​ | $ | 2.80 |  | 0.28 | % | 205.16 | % | 2.09 | ​ | $ | 0.0690620 | ​ | $ | —
December 31, 2021(4) | ​ | $ | 2.80 | ​ | December 24, 2023 | ​ | $ | 2.80 |  | 0.28 | % | 205.16 | % | 1.98 | ​ | $ | 0.0681813 | ​ | $ | —
December 31, 2021(5) | ​ | $ | 1.40 | ​ | March 18, 2023 | ​ | $ | 1.40 |  | 0.28 | % | 205.16 | % | 1.21 | ​ | $ | 0.0296661 | ​ | $ | —
December 31, 2021(6) | ​ | $ | 0.49 | ​ | September 10, 2022 | ​ | $ | 0.49 |  | 0.09 | % | 205.16 | % | 0.69 | ​ | $ | 0.0091855 | ​ | $ | —
December 31, 2021(7) | ​ | $ | 0.49 | ​ | November 6, 2022 | ​ | $ | 0.49 |  | 0.19 | % | 205.16 | % | 0.85 | ​ | $ | 0.0085006 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ |  |  | ​ |  |  |  |  |  |  |  |  | ​ |  | Future
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Estimated
​ | ​ | ​ | ​ | ​ | Warrant | ​ | ​ | ​ | ​ | Interest | ​ | ​ | ​ | Time to | ​ | Calculated | ​ | Quarterly
​ | ​ | Exercise | ​ | Expiration | ​ | Stock | ​ | Rate | ​ | Volatility | ​ | Maturity | ​ | fair value | ​ | Dividend
Black-Scholes Assumptions |  | Price |  | Date |  | Price (8) |  | (annual) (9) |  | (annual) (10) |  | (Years) |  | per share |  | per share(11)
December 31, 2020(4) | ​ | $ | 2.80 | ​ | December 24, 2020 | ​ | $ | 2.80 |  | 0.17 | % | 172.38 | % | 2.98 | ​ | $ | 2.422658 | ​ | $ | —
December 31, 2020(5) | ​ | $ | 1.40 | ​ | March 18, 2023 | ​ | $ | 1.40 |  | 0.13 | % | 172.38 | % | 2.21 | ​ | $ | 1.075547 | ​ | $ | —
December 31, 2020(6) | ​ | $ | 0.49 | ​ | September 10, 2022 | ​ | $ | 0.49 |  | 0.13 | % | 172.38 | % | 1.85 | ​ | $ | 0.38185 | ​ | $ | —
December 31, 2020(7) | ​ | $ | 0.49 | ​ | November 6, 2022 | ​ | $ | 0.49 |  | 1.13 | % | 172.38 | % | 1.69 | ​ | $ | 0.3825 | ​ | $ | —
​
(1) | Based on the terms provided in the warrant agreement related to the issuance of common stock of on September 2nd, 2021
(2) | Based on the terms provided in the warrant agreement related to the issuance of common stock of on March 11th, 2021
(3) | Based on the terms provided in the warrant agreement related to the issuance of common stock of on February 3rd, 2021
(4) | Based on the terms provided in the warrant agreement related to the issuance of common stock of on December 24th, 2020
(5) | Based on the terms provided in the warrant agreement related to the issuance of common stock of on March 18th, 2020
(6) | Based on the terms provided in the warrant agreement related to the issuance of common stock of on September 10th, 2019
(7) | Based on the terms provided in the warrant agreement related to the issuance of common stock of on November 6th, 2019
(8) | Based on the observable transaction value of common stock of per the most recent stock issuance financing agreements.
(9) | Interest rate for U.S. Treasury Bonds, as of the issuance dates and each presented period ending date, as published by the U.S. Federal Reserve.
(10) | Based on the historical daily volatility of Guideline Public Companies and each presented period ending date.
(11) | Current estimated dividend payments beyond initial four quarters. At a future date, the company will review the working capital needs and make a final determination of any future dividend payments.
The warrants outstanding and fair values at each of the respective valuation dates are summarized below: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Warrants |  | Fair Value |  | ​ | ​
Warrant Liability | ​ | Outstanding | ​ | per Share | ​ | Fair Value
Fair Value at initial measurement date of 12/31/19 |  | 150,000 | ​ | $ | 0.38185 | ​ | $ | 56
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Fair Value at initial measurement dates |  | 51,572 | ​ | $ | 1.2656 | ​ | $ | 65
Change in fair value of warrant liability | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 2
Fair Value as of period ending 12/31/2020 |  | 201,572 | ​ |  |  | ​ | $ | 123
Fair Value at initial measurement dates |  | 63,733 | ​ | $ | 3.2097 | ​ | $ | 203
Change in fair value of warrant liability |  |  | ​ |  |  | ​ |  | (8)
Fair Value as of period ending 12/31/2021 |  | 265,305 | ​ |  |  | ​ | $ | 318
​

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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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