Note 6 - Stock Warrants

9 Months Ended

Sep. 30, 2024

Notes to Financial Statements

Warrants [Text Block]

6. Stock Warrants

The Company’s outstanding warrants as of September 30, 2024 are summarized as follows, and all were exercisable at that date.

	Number of Shares		Exercise Price		Remaining Contractual Life (years)
Outstanding warrants expiring January 28, 2025		431,250	$	10.00		0.33
Outstanding warrants expiring May 7, 2026		958,334	$	20.00		1.60
Outstanding warrants expiring September 11, 2026		512,047	$	1.66		1.96
Outstanding warrants on September 30, 2024		1,901,631	$	12.79		1.41

December 2020 Warrants

The warrants issued pursuant to that certain Securities Purchase Agreement, dated as of December 24, 2020 (the "Purchase Agreement"), thatwethe Company entered into with certain institutional and accredited investors and pursuant to which, among other things,wethe Company sold and issued, and the investorspurchasespurchased, shares ofourthe Company’s common stock and related warrants to purchase additional shares ofourthe Company’s common stock in a series of two closings (the "Financing") contain a call provision whereby the Company, after the 13-monhthmonth anniversary of the issuance date, and if the volume weighted average price of the common stock for such date exceeds four times the exercise price of the warrants for 20 consecutive trading days, may call the warrants that have not previously been exercised, and the warrant holders have ten trading days within which to exercise before the warrants may be cancelled.WarrantsFrom among these warrants, warrants for 12,833 shares of common stock expired in 2023., 431,250 warrants will expire on January 28, 2025 and 958,334 warrants will expire on May 7, 2026. As of September 30, 2024, these outstanding warrants have no intrinsic value.

September 2024 Warrants

See Note 5 - Stockholders' Equity for disclosures related to the warrants issued in conjunction with the private placements on September 12, 2024.