v3.25.3
CAPITAL RAISES AND WARRANTS FOR COMMON STOCK (Tables)
9 Months Ended
Sep. 30, 2025
CAPITAL RAISES AND WARRANTS FOR COMMON STOCK  
Schedule of warrants activity

Warrants outstanding at January 1, 2025

1,119,795

Exercised

(80,022)

Warrants outstanding at March 31, 2025

1,039,773

Issued

2,112,260

Anti-dilution adjustment

1,418,677

Exercised

(99,243)

Warrants outstanding at June 30, 2025

4,471,467

Issued

10,028,302

Exercised

(3,076,608)

Warrants outstanding at September 30, 2025

11,423,161

The following table summarizes the Company’s outstanding warrants (excluding 371 pre-funded warrants) as of September 30, 2025:

# of warrants outstanding

Weighted average exercise price

Weighted average expiration date

Prior October 2024 warrants

2,723

$

2,217.41

November 2, 2029

Amended October 2024 PIPE warrants (1)(2)

1,391,765

$

N/A

July 15, 2030

August 2025 warrants

9,460,661

$

1.97

August 27, 2030

August 2025 Placement Agent warrants

567,641

$

2.17

August 27, 2030

11,422,790

(1) Warrant price adjusted as a result of anti-dilution or ratchet provisions.

(2) The warrants contain anti-dilution protection provisions relating to subsequent equity sales of shares of the Company’s common stock or common stock equivalents at an effective price per share lower than the then effective exercise price of such warrants. Additionally, the warrants allow the holder of such warrants to also effect an alternative form of cashless exercise on or after the initial exercise date whereby the aggregate number of shares of common stock issuable in such alternative form of cashless exercise pursuant to any given notice of exercise shall equal the product of (x) the aggregate number of shares of common stock that would be issuable upon exercise of the warrant in accordance with the terms of the warrant if such exercise were by means of a cash exercise rather than a cashless exercise and (y) 2.0 (a “Zero Exercise Price Exercise”). Accordingly, a Zero Exercise Price Exercise for the warrants will result in the issuance of two (2) shares for no additional consideration.

Schedule of convertible preferred stock transaction activity

Series A Convertible Preferred Stock Shares

Weighted Average Conversion Price

Common Shares Issued from Conversions

June 30, 2025

2025 Issuance

10,650

2025 Conversions

(1,000)

$ 2.19

456,621

September 30, 2025

9,650

456,621