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Note 15 - Warrants
12 Months Ended
Dec. 31, 2021
Note 15 - Warrants  
15. Warrants

15. Warrants

 

In connection with the February 14, 2020 RDO, the Company issued 20,833,334 five and one half-year Series A Warrants to purchase one common share at an exercise price of $0.20. The Company also issued 1,041,667 Series A Placement Agent Warrants to purchase one common share at an exercise price of $0.15 per share.

 

In connection with the April 9, 2020 CMPO, the Company issued 16,666,667 five-year Series B Warrants to purchase one common share at an exercise price of $0.15. The Company also issued 1,666,667 Placement Agent Warrants to purchase one common at an exercise price of $0.15 per share.

 

In connection with the May 29, 2020 public offering, the Company issued 133,333,333 two-year Series C Warrants to purchase one common share at an exercise price of $0.15. The Company also issued 12,170,000 Series C Pre-Funded Warrants to purchase common shares at an exercise price of $0.0001 on a cashless exercise basis. As of December 31, 2020, the Series C Pre-Funded Warrants have all been exercised.

 

In connection with the July 7, 2020 public offering, the Company issued 187,500,000 two-year Series D Warrants to purchase one common share at an exercise price of $0.16. The Company also issued 25,000,000 Series D Pre-Funded Warrants to purchase common shares at an exercise price of $0.0001 on a cashless exercise basis. As of December 31, 2020, the Series D Pre-Funded Warrants have all been exercised.

As of December 31, 2021, details of the outstanding warrants were as follows:

 

Original Issue date

 

Exercise Price

 

 

 Warrants Outstanding

 

 

Weighted Average Remaining Life

 

 

 

 

 

 

 

 

 

 

 

February 14, 2020

 

 

0.15

 

 

 

197,917

 

 

 

3.12

 

April 9, 2020

 

 

0.15

 

 

 

363,501

 

 

 

3.27

 

May 29, 2020

 

 

0.15

 

 

 

120,000

 

 

 

0.41

 

July 7, 2020

 

 

0.16

 

 

 

231,000

 

 

 

0.52

 

Balance at December 31, 2021

 

 

 

 

 

 

912,418

 

 

 

 

 

Cumulative warrant exercised as of December 31, 2021 were as follows:

 

 

 

Warrants

 

 

 

 

Warrant series

 

exercised

 

 

Amount

 

 

 

 

 

 

 

 

Series A

 

 

21,677,084

 

 

$4,293,229

 

Series B

 

 

17,969,833

 

 

 

2,695,475

 

Series C

 

 

133,213,333

 

 

 

19,982,000

 

Series D

 

 

187,269,000

 

 

 

29,963,040

 

Subtotal

 

 

360,129,250

 

 

 

56,933,744

 

Common stock subscribed

 

 

-

 

 

 

(459,600)

Total

 

 

360,129,250

 

 

$

56,474,144