Note 8 – Warrants
A summary of
the warrant activity for the three months ended March 31, 2025, is as follows:
Schedule of Warrant Activity
| | |
Shares | | |
Weighted-Average Exercise Price | | |
Weighted-Average Remaining Contractual Term | | |
Aggregate Intrinsic Value | |
| Outstanding at January 1, 2025 | |
| 71,250 | | |
$ | 6.25 | | |
| 5.00 | | |
$ | - | |
| Granted | |
| - | | |
| - | | |
| | | |
| | |
| Exercised | |
| - | | |
| - | | |
| - | | |
| - | |
| Cancelled/Exchanged | |
| - | | |
| - | | |
| | | |
| | |
| Outstanding at March 31, 2025 | |
| 71,250 | | |
$ | 6.25 | | |
| 4.75 | | |
$ | - | |
| Exercisable at March 31, 2025 | |
| 71,250 | | |
$ | 6.25 | | |
| 4.75 | | |
$ | - | |
A
summary of the warrants outstanding at March 31, 2025, is as follows:
Schedule
of Exercise Price of Warrants
| Exercise Price | | |
Warrants Outstanding | | |
Weighted Avg. Remaining Life | | |
Warrants Exercisable | |
| $ | 6.25 | | |
| 71,250 | | |
| 4.75 | | |
| 71,250 | |
| | | | |
| 71,250 | | |
| 4.75 | | |
| 71,250 | |
The
aggregate intrinsic value of outstanding stock warrants was $0 based on warrants with an exercise price less than the Company’s
stock price of $4.04 as of March 31, 2025, which would have been received by the warrant holders had those holders exercised the warrants
as of that date.
|