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Common Stock Warrants (Tables)
12 Months Ended
Dec. 31, 2022
Common Stock Warrants  
Summary of Fair Value of the Warrants Estimated on Date of Grant Using Assumptions

The fair value of the warrants was estimated on the date of grant using the following assumptions:

 

 

2021

 

Expected life (in years)

 

 

5.0

 

Expected volatility

 

50.29% - 85.37%

 

Risk-free interest rate

 

0.89% - 1.26%

 

Dividend yield

 

 

%

Summary of the Company's Outstanding Warrants

A summary of the Company’s outstanding warrants as of December 31, 2022 is as follows:

Class of Shares

 

Number of
Warrants

 

 

Exercise Price

 

 

Expiration Date

Common Stock

 

 

50,000

 

 

$

1.04

 

 

July 1, 2026

Common Stock

 

 

50,000

 

 

$

1.04

 

 

November 15, 2026

Common Stock

 

 

172,680

 

 

$

6.25

 

 

November 10, 2026