| Warrant Activity |
Warrant activity is summarized as follows:
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| | | |
| | | |
| |
|
Warrants
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|
Weighted average
exercise price
| |
| |
| | | |
| | | |
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Outstanding at December 31, 2023
|
| | 9,256,493 | |
| $ | 4.22 | |
|
Issued
|
| | 600,000 | |
| | 3.70 | |
|
Exercised
|
| | (142,503 | ) |
| | 3.00 | |
|
Canceled/Expired
|
| | (118,050 | ) |
| | 4.33 | |
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Outstanding at December 31, 2024
|
| | 9,595,940 | |
| $ | 4.21 | |
|
Issued
|
| | 420,000 | |
| | 4.59 | |
|
Exercised
|
| | (10 | ) |
| | 7.00 | |
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Canceled/Expired
|
| | (5,843,786 | ) |
| | 3.00 | |
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Outstanding at December 31, 2025
|
| | 4,172,144 | |
| $ | 5.93 | |
|
| Outstanding Warrants Issued in Connection with Equity and Debt Financings and Consultants |
The following table summarizes information with regard to outstanding warrants issued in connection with equity and debt financings and consultants as of December 31, 2025.
| | | | | | | | | | | | | | Issued in Connection With | |
| Number
Outstanding | | |
| Exercise
Price | | | Exercisable Date | Expiration Date | | May 23, 2019 Rights Offering warrants | | | 2,622,144 | | | $ | 7.00 | | | May 23, 2019 | May 23, 2026 | | July 22, 2022 Warrants issued in connection with related party line of credit | | | 330,000 | | | $ | 5.00 | | | July 22, 2022 | July 31, 2029 | | December 29, 2023 Warrants issued for draw on related party line of credit | | | 200,000 | | | $ | 3.00 | | | December 29, 2023 | July 31, 2029 | | March 29, 2024 Warrants issued for draw on related party line of credit | | | 200,000 | | | $ | 3.59 | | | March 29, 2024 | July 31, 2029 | | June 28, 2024 Warrants issued for draw on related party line of credit | | | 200,000 | | | $ | 3.39 | | | June 28, 2024 | July 31, 2029 | | September 30, 2024 Warrants issued for draw on related party line of credit | | | 200,000 | | | $ | 4.13 | | | September 30, 2024 | July 31, 2029 | | April 30, 2025 Warrants issued for draw on related party line of credit | | | 120,000 | | | $ | 3.00 | | | April 30, 2025 | July 31, 2029 | | June 30, 2025 Warrants issued for draw on related party line of credit | | | 100,000 | | | $ | 3.50 | | | June 30, 2025 | July 31, 2029 | | December 31, 2025 Warrants issued for draw on related party line of credit | | | 200,000 | | | $ | 6.08 | | | December 31, 2024 | July 31, 2029 | | Total Outstanding Warrants | | | 4,172,144 | | | | | | | | |
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