v3.23.1
Equity (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule of warrants outstanding
   # of
Warrants
   Price
(each)
   Expiration Date  Method of Exercise
Issued in December 2020 with subordinated note to investor (1)   500,000   $0.352   December 30, 2023  Cash
Issued in Q1 2021 with common stock units (1)   1,600,000   $0.500   January-February, 2023  Cash
Issued in Q4 2021 with common stock units (1)   958,333   $0.600   October-December, 2023  Cash
Total warrants outstanding at December 31, 2022   3,058,333            

 

(1) May be redeemed for $0.0001 per warrant at the Company’s option with 30 days advanced notice should the weighted average market price of common stock exceed $1.00 for any five out of seven consecutive trading days with a minimum average daily trading volume for such seven-day period of at least 25,000 shares of common stock.

 

Schedule of outstanding stock warrants activity
   # of
Warrants
   Weighted
Average
Price
 
Warrants as of January 1, 2021   22,988,632   $0.353 
Issued   2,558,333   $0.537 
Cancelled   (7,244,316)  $0.352 
Exercised   (9,494,316)  $0.352 
Warrants as of December 31, 2021   8,808,333   $0.407 
Canceled   (5,750,000)  $0.354 
Warrants as of December 31, 2022   3,058,333   $0.507