WARRANT DERIVATIVE LIABILITY (Tables)

3 Months Ended

Mar. 31, 2022

WARRANT DERIVATIVE LIABILITY.

Summary of key assumptions used to determine fair value of warrants

	December 31,			March 31,
	2021			2022
Number of shares underlying the warrants		322,807			322,807
Fair market value of stock	$	0.22		$	0.46
Exercise price	$	0.3983		$	0.3983
Volatility		94	%		103	%
Risk-free interest rate		1.26	%		2.42	%
Warrant life (years)		2.41			2.16

Summary of the changes in the fair value of the warrant derivative liability

	Three months ended March 31,
	2022		2021
Beginning balance	$	28,317	$	561,368
Warrant exercise		—		(1,539,981)
Change in fair value of warrants derivative liability		60,664		1,198,744
Ending balance	$	88,981	$	220,131