Quarterly report [Sections 13 or 15(d)]

Warrants

v3.25.1
Warrants
 3 Months Ended
Mar. 31, 2025
Warrants [Abstract]  
Warrants Warrants
In February 2025, the Company issued warrants to purchase an aggregate of 600,000 shares of its common stock to various consultants and service providers. Each warrant has an exercise price of $4.69 per share and a five year term, expiring in February 2030.

The following table presents the weighted-average inputs used for the valuation of warrants issued, as per the Black-Scholes fair value model for the three months ended March 31, 2025 and 2024:

Three Months Ended
March 31, 2025		 Three Months Ended
March 31, 2024
Dividend yield —% —%
Expected price volatility 72.8% 70.0%
Risk free interest rate 4.4% 4.2%
Expected term 5 years 5 years

The following table represents a summary of warrants to purchase shares of the Company’s common stock that are outstanding:
Warrant Issue Date Outstanding as of March 31, 2025 Exercise Price Expiration
June 2020 - November 2020 54
$1,506,600 - $6,277,500
 June 2025 - November 2025
January 2021 - December 2021 16
$1,701,000 - $7,593,750
 January 2026 - December 2026
July 2022 - October 2022 24
$432,000 - $1,755,000
 July 2027 - October 2027
January 2023 10
$434,700
 January 2028
February 2023 21
$432,000
 October 2027 - February 2028
June 2023 57
$199,530 - $207,630
 June 2028
March 2024 35
$2,115
 March 2029
July 2024 2,334
$398
 July 2029
August 2024 4,003
$285 - $303
 August 2029
February 2025
600,000
$4.69
February 2030
Preferred Stock Warrants

On February 2023, the Company granted warrants to purchase 45,000 shares of Series E preferred stock with the original exercise price of $0.50 and expiration date of February 2028. The warrants to purchase 45,000 shares of Series E preferred stock remain outstanding and had an insignificant value as of March 31, 2025.