XML 120 R18.htm IDEA: XBRL DOCUMENT
v3.24.4

Warrant Liability | 9 Months Ended | 12 Months Ended
--- | --- | ---
Sep. 30, 2024 | Dec. 31, 2023
Warrant Liability |  |
Warrant Liability | Note 10. Warrant Liability Certain Warrants are accounted for as liabilities in accordance with ASC 815-40 and are presented as a Warrant liability in the accompanying condensed consolidated balance sheets. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within the condensed consolidated statements of operations. The Black Scholes Option-Pricing model used the following assumptions for the nine months ended September 30, 2024 and 2023 (See Note 8). Schedule of Fair Value of Warrant
|  | September 30, 2024 |  |  | September 30, 2023 |
Expected term (years) |  |  | 3.37 to 5.99 |  |  |  | 4.36 to 5.5 |
Expected volatility |  |  | 58.78% to 121.32 | % |  |  | 45.31% to 59.93 | %
Risk-free interest rate |  |  | 3.41% to 4.56 | % |  |  | 3.53 to 4.54 | %
Dividend rate |  |  | 0 |  |  |  | 0 |
The Warrant liability at September 30, 2024 and December 31, 2023 was as follows: Schedule of Warrant Liability
|  | September 30, 2024 |  |  | December 31, 2023 |
Trading and Overallotment Warrants |  | $ | 431,250 |  |  | $ | 1,121,250 |
Note Warrants |  |  | 11,765 |  |  |  | 30,588 |
Offering Warrants – February 2023 |  |  | 20,053 |  |  |  | 234,072 |
Offering Warrants – September 2023 |  |  | 216,911 |  |  |  | 1,036,875 |
Inducement Warrants – May 2024 |  |  | 347,123 |  |  |  | - |
Total Warrant Liability |  | $ | 1,027,102 |  |  | $ | 2,422,785 |
The Warrants outstanding at September 30, 2024 and December 31, 2023 were as follows: Schedule of Warrant Outstanding
|  | September 30, 2024 |  |  | December 31,2023 |
Trading, Overallotment and Underwriter Warrants |  |  | 400,568 |  |  |  | 400,568 |
Note Warrants |  |  | 10,695 |  |  |  | 10,695 |
Offering Warrants – February 2023 |  |  | 8,607 |  |  |  | 102,206 |
Offering Warrants – September 2023 |  |  | 95,078 |  |  |  | 397,727 |
Inducement Warrants – May 2024 |  |  | 260,799 |  |  |  | - |
Warrants issued for services arrangement |  |  | 28,636 |  |  |  | 22,500 |
Total Warrants Outstanding |  |  | 804,383 |  |  |  | 1,194,495 |
SHARPS TECHNOLOGY, INC. NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023 Note 10. Warrant Liability (continued) For the three months ended September 30, 2024, the FMV gain adjustment, which is reflected in the FMV adjustment on Warrants in the Unaudited Condensed Consolidated Statements of Operations was $416,560, which includes the modification charge of $155,703 and $349,243, gain for the warrants exercised in connection with the Inducement Agreements (See Note 8). For the nine months September 30, 2024, the FMV gain adjustment, which is reflected in the FMV adjustment on Warrants in the Unaudited Condensed Consolidated Statements of Operations was $2,088,747, which includes the modification charge of $790,956 and $349,243, gain for the warrants exercised in connection with the Inducement Agreements (See Note 8). For the three and nine months ended September 30, 2023, the FMV gain adjustment, which is reflected in the FMV adjustment gain (loss) on Warrants in the Unaudited Condensed Consolidated Statements of Operations was $321,981 and $415,958, respectively (see Note 8). | Note 10. Warrant Liability The Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented as a Warrant liability in the accompanying consolidated balance sheet. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within the consolidated statement of operations, The non-trading warrants, related to the February 2023 and September 2023 offerings, are valued using the Black-Scholes pricing model. The assumptions for the year ended December 31, 2023 were as follows: (See Notes 7 and 8) Schedule of Fair Value of Warrant
|  | Year Ended December 31, 2023 |
Expected term (years) |  |  | 4.10 to 5.50 |
Expected volatility |  |  | 45.30% to 70.44 | %
Risk-free interest rate |  |  | 3.53% to 4.54 | %
Dividend rate |  |  | 0 | %
The Warrant liability at December 31, 2023 and 2022 was as follows: Schedule of Warrant Liability
|  | 2023 |  |  | 2022 |
Trading and Overallotment Warrants |  | $ | 1,121,250 |  |  |  | 1,121,250 |
Note Warrants |  |  | 30,588 |  |  |  | 30,588 |
Offering Warrants – February 2023 |  |  | 234,072 |  |  |  | - |
Offering Warrants – September 2023 |  |  | 1,036,875 |  |  |  | - |
Total Warrant Liability |  | $ | 2,422,785 |  |  |  | 1,151,838 |
The Warrants outstanding at December 31, 2023 and 2022 were as follows: Schedule of Warrant Outstanding
|  | December 31, 2023 |  |  | December 31, 2022 |
Trading and Overallotment Warrants |  |  | 8,812,500 |  |  |  | 8,812,500 |
Note Warrants |  |  | 235,294 |  |  |  | 235,294 |
Offering Warrants – February 2023 |  |  | 2,248,521 |  |  |  | - |
Offering Warrants – September 2023 |  |  | 8,750,003 |  |  |  | - |
Warrants issued for services arrangement |  |  | 495,000 |  |  |  | - |
Total Warrants Outstanding |  |  | 20,541,318 |  |  |  | 9,047,794 |
SHARPS TECHNOLOGY, INC. NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022 Note 10. Warrant Liability (continued) For the years ended December 31, 2023 and 2022 the FMV loss (gain) adjustment, which is reflected in the FMV adjustment on Warrants in the Consolidated Statements of Operations was ($169,583) and ($4,784,559), respectively.

X
- References No definition available. + Details
Name: | STSS_DisclosureWarrantLiabilityAbstract
Namespace Prefix: | STSS_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Warrant Liability [Text Block] + References No definition available. + Details
Name: | STSS_WarrantLiabilityTextBlock
Namespace Prefix: | STSS_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration