WARRANTS

6 Months Ended

Jun. 30, 2024

Warrants

WARRANTS

12. WARRANTS

The Company granted zero and 10,128,571 common stock warrants, during the period ended June 30, 2024 and year ended December 31, 2023, respectively. During the period ended June 30, 2024 warrant holders did not exercise any warrants and 3,813,593 warrants expired. During 2023 warrant holders did not exercise any warrants, and 19,656,521 warrants expired. The weighted average exercise price of warrants outstanding on June 30, 2024, is $0.7793, and the weighted average remaining contractual life is 1.58 years. The weighted average exercise price of warrants outstanding on December 31, 2023, was $0.5569, and the weighted average remaining contractual life is 1.36 years.

Since the expected life of the warrants was greater than the Company’s historical stock information available, the Company determined the expected volatility based on price fluctuations of comparable public companies.

The following table summarizes changes in warrants outstanding in each year:

	June 30, 2024			December 31, 2023
Outstanding at beginning of year		10,279,664			19,807,614
Issuances		-			10,128,571
Expirations		(3,813,593	)		(19,656,521	)
Outstanding at end of year		6,466,071			10,279,664
Weighted Average Price	$	0.7793		$	0.5569