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WARRANTS
 3 Months Ended
Mar. 31, 2025
Warrants  
WARRANTS

NOTE 10 – WARRANTS

 

In connection with a note (see Note 8), in August 2024 the Company issued 76,923 warrants to purchase common stock. The warrants have an exercise price of $9.36 per share, are immediately exercisable and have a term of 5 years. In August 2024, the holder exercised 28,571 warrants for shares of commons stock on a cashless basis.

 

As of March 31, 2025, the Company remeasured the fair value of warrants outstanding at $273,949. In connection with remeasurement of warrants, a $645,986 gain and $729,889 loss was recognized during the three months ended March 31, 2025 and 2024, respectively, as the change in fair value of warrant liability.

 

The Company’s outstanding and exercisable warrants, as of March 31, 2025, are presented below:

 

  

Number

Outstanding

  

Weighted

Average

Exercise Price

  

Contractual Life
In Years

  

Intrinsic

Value

 
Warrants outstanding as of December 31, 2024   238,594   $19.02    3.20   $- 
Warrants exercisable as of December 31, 2024   238,594    19.02    3.20    - 
Warrants granted   -    -    -    - 
Warrants forfeited, expired, cancelled   -    -    -    - 
Warrants exercised   -    -    -    - 
Warrants outstanding as of March 31, 2025   238,594   $19.02    2.95    - 
Warrants exercisable as of March 31, 2025   238,594   $19.02    2.95    -