v3.24.3
Stockholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2024
Equity [Abstract]  
Schedule of Warrants
The following table represents a summary of warrants for the nine months ended September 30, 2024 and the year ended December 31, 2023:
Nine Months Ended
September 30, 2024		Year Ended
December 31, 2023
NumberWeighted
Average
Exercise
Price		NumberWeighted
Average
Exercise
Price
Beginning balance7,444,698$1.68 5,678,836$1.84 
Warrants8,437,5010.25 1,765,8621.17 
Pre-funded Warrants3,193,5340.09 — — 
Total Granted11,631,0350.34 1,765,8621.17 
Warrants— — — — 
Pre-funded Warrants(3,193,534)0.32 — — 
Total Exercised (3,193,534)0.32 — — 
Ending balance15,882,199$0.97 7,444,698$1.68 
Warrants exercisable 15,882,1997,444,698
Intrinsic value of warrants$185,421 $327,214 
Weighted Average Remaining Contractual Life (Years)4.234.70
The Pre-funded Warrants that the Company sold related to the Registered Offering were immediately exercisable and do not have an expiration date. As noted above, the Company sold Pre-funded Warrants to purchase up to an aggregate of 3,193,534 shares of common stock at an offering price of $0.319 per Pre-funded Warrant, which are exercisable at a price of $0.001 per share. As of September 30, 2024, all Pre-funded Warrants have been exercised.
The Regular Warrants related to the Registered Offering became exercisable on March 20, 2024, upon effectiveness of shareholder approval which was obtained on February 12, 2024. The Regular Warrants expire on March 20, 2029, and have an exercise price of $0.35 per share.
The Regular Warrants and the Pre-funded Warrants do not require a cash settlement for the warrants. Based on the terms of the agreements, both the Regular Warrants and the Pre-funded warrants were freestanding, equity-linked instruments that represented separate units of account. The Company allocated the value of the net proceeds from the offering to the ordinary shares and Regular Warrants and Pre-funded warrants based on relative fair value. The value allocated to the Regular Warrants and Pre-funded warrants was recorded in Additional Paid-In Capital in the Consolidated Balance Sheets.
Schedule of Options
The following represents a summary of options for the Amended Plan and additional options granted outside of the Amended Plan, for the nine months ended September 30, 2024 and the year ended December 31, 2023:
NumberWeighted
Average
Exercise
Price		Weighted-Average Remaining Contractual Term (in Years)Weighted
Average
Fair Value
Outstanding, December 31, 20238,243,437$2.41 4.98$3.58 
Granted150,0000.35 6.920.31 
Exercised————
Forfeited(65,938)1.72 ——
Outstanding. March 31, 20248,327,4992.38 4.763.55 
Granted————
Exercised————
Forfeited(150,000)0.35 ——
Outstanding, June 30, 20248,177,499 2.42 4.473.61 
Granted1,900,000———
Exercised————
Forfeited————
Outstanding, September 30, 202410,077,499$2.00 4.09$2.95 
As of September 30, 2024
Vested and exercisable6,003,993$2.30 4.05$2.91 
Schedule of Stock Options, Valuation Assumptions The following assumptions were used for the periods as follows:
Nine Months Ended
September 30, 2024		Year
Ended
December 31, 2023
Expected term7 years7 years
Expected volatility
123.05% – 124.33%
161.61% – 166.14%
Expected dividend yield— — 
Risk-free interest rate
3.89% – 4.45%
3.48% - 3.89%