Common Stock Purchase Warrants

3 Months Ended

Mar. 31, 2022

Common Stock Purchase Warrants [Abstract]

Common Stock Purchase Warrants

9. Common Stock Purchase Warrants

A summary of the warrant activity as of March 31, 2022 is as follows (dollars in thousands):

	Warrants			Weighted Average Exercise Price per share		Weighted Average Remaining Contractual Life (years)
Outstanding at December 31, 2021		204,882,664		$	0.20		2.54
Exercised		(15,909,091	)		0.01
Issued		16,152,079			0.18
Outstanding at March 31, 2022		205,125,652		$	0.18		2.67

On January 31, 2022, the Company issued 14,000,000 shares of its common stock to LGH upon the cashless exercise of 15,000,000 of the LGH Warrants under the terms of the warrant agreement. After this cashless exercise, 8,600,000 of LGH Warrants remain outstanding. On February 28, 2022, the Company issued 16.1 million warrants with an exercise price of $0.18 and a 8.6-year term as part of the Second Amendment to Note and Warrant Purchase and Security Agreement with NH Expansion Fund.