v3.22.2.2
COMMON STOCK PURCHASE WARRANTS (Tables)
Sep. 30, 2022
Common Stock Purchase Warrants  
SCHEDULE OF WARRANT MODIFICATION

   Original
terms at
August 19,
2021
   Modified
terms at
August 19,
2021
 
Volatility - range   109.3%   104.7%
Risk-free rate   0.78%   0.78%
Dividend   0%   0%
Remaining contractual term   4.5 years    5.1 years 
Exercise price  $3.25   $3.25 
Common stock issuable under the warrants   14,300,000    14,300,000 

   Terms at
August 23,
2022
Volatility - range   103.7%
Risk-free rate   3.17 - 3.36%
Dividend   0%
Remaining contractual term   3.4 - 4.1 years
Exercise price  $3.25 
Common stock issuable under the warrants   24,300,000 
 
SUMMARY OF WARRANT ACTIVITY

The following table summarizes information about shares issuable under warrants outstanding during the nine months ended September 30, 2022:

 

   Warrants  

Weighted
average
exercise price

 
Vested Balance, January 1, 2022   26,008,598   $3.24 
Granted        
Exercised        
Forfeited/cancelled   (24,659,420)   3.25 
Vested Balance, September 30, 2022   1,349,178   $3.01 
SUMMARY OF RANGE OF EXERCISE PRICES AND WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE OF WARRANTS

The following table summarizes the range of exercise prices and weighted average remaining contractual life for outstanding and exercisable warrants to purchase shares of common stock as of September 30, 2022:

 

      Outstanding and exercisable warrants
 Exercise price    Number of warrants    

Weighted average
remaining
contractual life

 
$2.60    465,712    0.8 years 
$3.00    316,800    0.5 years 
$3.36    566,666    0.4 years 
             
      1,349,178    0.6 years