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Note 4 - Capital Stock | 6 Months Ended
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Jun. 30, 2024
Notes to Financial Statements |
Equity [Text Block] | Note 4 - Capital Stock Common Stock The Company’s common stock, par value $0.0001 per share (the “Common Stock”), is listed on the Nasdaq Capital Market (“Nasdaq”), under the ticker symbol “OBLG”. As of June 30, 2024, we had 150,000,000 shares of our Common Stock authorized, with 28,250,000 and 28,242,000 shares issued and outstanding, respectively. During the three months ended June 30, 2024, 2,111 shares of Series F Preferred Stock, plus $110,000 of accrued dividends, were converted to 7,955,743 shares of the Company’s Common Stock. During the six months ended June 30, 2024, 3,033 shares of Series F Preferred Stock, plus $194,000 of accrued dividends, were converted into 11,558,000 shares of the Company's Common Stock. See Note 5 - Preferred Stock for further detail. Common Stock activity for the year ended December 31, 2023 and six months ended June 30, 2024 is presented below (in thousands).
Issued Shares as of December 31, 2022 |  |  | 2,071 |
Issuances from Preferred Stock conversions |  |  | 14,102 |
Issuances related to warrant exercises |  |  | 746 |
Issuances related to stock compensation |  |  | 180 |
Common shares exchanged for prepaid warrants |  |  | (407 | )
Issued Shares as of December 31, 2023 |  |  | 16,692 |
Issuances from Preferred Stock conversions |  |  | 11,558 |
Issued Shares as of June 30, 2024 |  |  | 28,250 |
Less Treasury Shares: |  |  | (8 | )
Outstanding Shares as of June 30, 2024 |  |  | 28,242 |
Common Stock Warrants During the three and six months ended June 30, 2024, Common Warrants were issued in accordance with the exercise provisions of the Preferred Warrants. See Note 5 - Preferred Stock for additional detail on the exercises of the Preferred Warrants. These Common Warrants are exercisable on the six-month anniversary of issuance, at an initial exercise price of $1.71, and have a term of five years. Common Warrants outstanding as of June 30, 2024 are as follows:
Issue Date |  | Warrants Outstanding |  |  | Exercise Price |  | Expiration Date
Q2 2021 |  |  | 750 |  |  | $ | 66.00 |  | Q4 2024
Q1 2023 |  |  | 4,136,850 |  |  | $ | 1.71 |  | Q3 2028
Q2 2024 |  |  | 963,745 |  |  | $ | 1.71 |  | Q4 2029
|  |  | 5,101,345 |  |  |  |  |  |
Common Warrant activity for the year ended December 31, 2023 and six months ended June 30, 2024 is presented below.
|  | Outstanding |
|  | Number of Warrants |  |  | Weighted Average Exercise Price |
Warrants outstanding as of December 31, 2022 |  |  | 343,099 |  |  | $ | — |
Granted |  |  | 4,543,626 |  |  |  | 1.56 |
Exercised |  |  | (746,027 | ) |  |  | 0.78 |
Expired |  |  | (2,848 | ) |  |  | 70.25 |
Warrants outstanding as of December 31, 2023 |  |  | 4,137,850 |  |  |  | 1.73 |
Granted |  |  | 963,745 |  |  |  | 1.71 |
Expired |  |  | (250 | ) |  |  | 60.00 |
Warrants outstanding as of June 30, 2024 (1) |  |  | 5,101,345 |  |  | $ | 1.71 |
(1) Of the outstanding shares at June 30, 2024, 4,137,600 were exercisable. |  |  |  |  |  |  |  |
Treasury Shares The Company maintains treasury stock for the Common Stock shares bought back by the Company when withholding shares to cover taxes on transactions related to equity awards. There were no treasury stock transactions during the six months ended June 30, 2024 or the year ended December 31, 2023.

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