WARRANT AGREEMENTS

9 Months Ended

Sep. 30, 2022

WARRANT AGREEMENTS

WARRANT AGREEMENTS

NOTE 16 – WARRANT AGREEMENTS

During the nine months ended September 30, 2022 and 2021, the Company did not issue any warrants.

Warrants that vest at the end of a one-year period are amortized over the vesting period using the straight-line method.

The Company’s warrant activity during the periods presented was as follows:

	Warrants			Weighted Average Exercise Price		Weighted Average Contractual Remaining Life (years)
Outstanding, December 31, 2020		2,479,849		$	1.86		1.23
Granted		-			-		-
Exercised		(96,250	)		1.00		-
Forfeited/Expired		(818,152	)		1.58		-
Outstanding, December 31, 2021		1,565,447		$	2.18		0.66
Granted		-			-		-
Exercised		-			-		-
Forfeited/Expired		(949,917	)		2.31		-
Outstanding, September 30, 2022		615,530		$	1.99		0.75
Exercisable at September 30, 2022		615,530		$	1.99		0.75

Warrant summary as of September 30, 2022:

Range of Exercise Price	Number of Warrants		Weighted Average Remaining Contractual Life (years)		Weighted Average Exercise Price		Number of Warrants Exercisable		Weighted Average Exercise Price
$ 1.98–$2.00		615,530		0.75	$	1.99		615,530	$	1.99
		615,530		0.75	$	1.99		615,530	$	1.99

Warrant summary as of December 31, 2021:

Range of Exercise Price	Number of Warrants		Weighted Average Remaining Contractual Life (years)		Weighted Average Exercise Price		Number of Warrants Exercisable		Weighted Average Exercise Price
$ 1.98–$2.31		1,565,447		0.66	$	2.18		1,565,447	$	2.18
		1,565,447		0.66	$	2.18		1,565,447	$	2.18

There were no warrants granted during the three and nine months ended September 30, 2022 and 2021.

The aggregate intrinsic value of warrants outstanding and exercisable at September 30, 2022 was $0.