XML 25 R15.htm IDEA: XBRL DOCUMENT

STOCK WARRANTS

9 Months Ended

Sep. 30, 2021

NOTE 8 – STOCK WARRANTS

At September 30, 2021, warrant shares outstanding were as follows:

SCHEDULE OF WARRANTS OUTSTANDING

	Number of Warrants			Weighted Average Exercise Price
Outstanding December 31, 2020		370,000		$	8.75
Issued		—			—
Exercised		(345,878	)		(4.07	)
Outstanding, September 30, 2021 (unaudited)		24,122		$	3.13
Exercisable, September 30, 2021 (unaudited)		24,122		$	3.13

At December 31, 2020, the Company had outstanding warrants exercisable into 370,000 shares of the Company’s common stock, of which 250,000 warrants were issued in connection with a July 2020 private placement of the Company’s common stock, and the remaining 120,000 warrants were issued to underwriters in a December 2016 offering.

During the nine months ended September 30, 2021, warrants to purchase 225,878 shares of common stock were exercised at $3.13 exercise price per share or total net proceeds to the Company of $707 upon exercise. Also during the nine months ended September 30, 2021, warrants exercisable into 120,000 shares of the Company’s common stock were exercised under a cashless exercise option into 61,644 shares of the Company’s common stock.

The intrinsic value of the outstanding and exercisable warrants at September 30, 2021 was $58.