v3.26.1
WARRANTS
6 Months Ended
Jun. 30, 2026
Warrants  
WARRANTS

NOTE 14 – WARRANTS

 

During the three months ended March 31, 2025, the Company entered into exchange agreements with holders of 50,445 warrants whereby the Company and the warrant holders agreed to exchange the warrants for shares of common stock equivalent to 96% of the shares of common stock issuable upon exercise of the warrants, or 48,435 shares of common stock. Concurrently, the Company and the holders of 38,868 warrants issued on or about March 18, 2024, April 22, 2024, and May 16, 2024, agreed to amend these warrants to reduce the exercise price from $2.91 to $1.50 per share, increase the number of shares issuable upon exercise by 250%, and remove certain adjustment provisions in the event of certain dilutive issuances or share combinations. As a result of this amendment, an additional 58,293 warrants were issued.

 

During the three months ended March 31, 2025, an additional 8,843 warrants were cashless exercised into 55,066 shares of common stock.

 

On January 10, 2025, 68,581 warrants were exercised into 68,581 shares of common stock at an exercise price of $58.30 per share.

 

On February 10, 2025, 155,451 warrants were exercised into 155,451 shares of common stock at an exercise price of $36.30 per share.

 

During the three months ended September 30, 2025, an additional 98,246 warrants were cashless exercised into 137,185 shares of common stock.

 

During the three months ended December 31, 2025, an additional 181,599 warrants were cashless exercised into 136,200 shares of common stock.

 

A summary of the warrant activity for the six months ended June 30, 2026 is as follows:

 

           Weighted-Average     
       Weighted-Average   Remaining   Aggregate 
   Shares   Exercise Price   Contractual Term   Intrinsic Value 
Outstanding at December 31, 2025   3,421   $172.30    3.28   $- 
Exercisable at December 31, 2025   3,421   $172.30    3.28   $- 
Granted   -    -           
Exercised   -    -           
Cancelled/Exchanged   -    -           
Outstanding at June 30, 2026   3,421   $172.30    2.78   $- 
Exercisable at June 30, 2026   3,421   $172.30    2.78    $- 

 

 

Exercise   Warrants   Weighted Avg.   Warrants 
Price   Outstanding   Remaining Life   Exercisable 
$165.00    3,260    2.89    3,260 
 320.10    161    0.67    161 
      3,421    2.78    3,421 

 

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 $2.96 as of June 30, 2026 which would have been received by the warrant holders had those holders exercised the warrants as of that date.