16. Warrants

12 Months Ended

Dec. 31, 2019

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Warrants

NOTE 16 – WARRANTS

The following table shows warrant activity for the years ended December 31, 2019 and 2018.

	December 31,
	2019
	Number of shares		Weighted Average Exercise Price
Warrants outstanding as of December 31, 2018		6,000	$	1.00
Warrants issued in connection with convertible debenture offering (see Note 10):
Issued to convertible debenture holders		532,134	$	3.00
Issued to 4Front as part of compensation		153,900	$	2.41
Warrants outstanding as of December 31, 2019		692,034	$	2.88
Warrants exercisable as of December 31, 2019		692,034	$	2.88

The warrants issued to convertible debenture holders expire June 24, 2021. The warrants issued to 4Front as part of compensation expire May 31, 2021. Warrants issued to Mr. Lowe in 2018 expire March 31, 2023. The aggregate intrinsic value of the warrants outstanding and exercisable at December 31, 2019 is $0.