EQUITY

3 Months Ended

Mar. 31, 2022

Equity [Abstract]

EQUITY

NOTE 3 - EQUITY:

a. As of March 31, 2022, there were 1,718 shares of Series C Preferred Stock outstanding, convertible into an aggregate of 2,280 shares of our common stock.

As of March 31, 2022, the Company has outstanding warrants to purchase an aggregate of 1,793,815 shares of common stock as follows:

	Number of underlying Common stock		Weighted average exercise price
Series E Warrants		198,159	$	27.000
Series F Warrants		433,878	$	7.425
Series G Warrants		1,092,344	$	10.230
Underwriter Warrants		18,277	$	7.425
Other warrants		51,157	$	225 and above
Total Warrants		1,793,815	$

As of March 31, 2022, the Company had 155,000,000 authorized shares of capital stock, par value $0.0001 per share, of which 150,000,000 are shares of common stock and 5,000,000 are shares of “blank check” preferred stock.

b. During the three months ended March 31, 2022, the Company granted to employees and consultants’ options to purchase a total of 47,841 shares of the Company’s common stock. The options have an exercise price ranging from $2.61 - $2.69 per share, which was the fair market value of the Company’s common stock on the date of the grant. 7,841 options are subject to a three-year vesting period, with one-third of such awards vesting each year and 40,000 options with performance conditions, mainly related to clinical activities.

In calculating the fair value of the above options, the Company used the following assumptions: dividend yield of 0% and expected term of 5.5-6.5 years; expected volatility ranging from 127.92%-130.93%; and risk-free interest rate ranging from 1.79%-1.9%.

The fair value of the above options, using the Black-Scholes option-pricing model, was approximately $104,124.

c. During the three months ended March 30, 2022, the Company granted 26,183 restricted shares of the Company’s common stock to employees. The shares are subject to a three-year vesting period, with one-third of such awards vesting each year.

The fair value of the above restricted shares was approximately $68,338.