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Common Stock Warrants (Tables)
3 Months Ended
Mar. 31, 2023
Common Stock Warrants  
Summary of Fair Value of the Warrants Estimated on Date of Grant Using Assumptions

The fair value of the warrants issued in 2023 was estimated on the date of grant using the following assumptions:

 

 

 

2023

Expected life (in years)

 

4.0

Expected volatility

 

123.9%

Risk-free interest rate

 

4.075%

Dividend yield

 

0%

Summary of the Company's Outstanding Warrants

A summary of the Company’s outstanding warrants as of March 31, 2023 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

Common Stock

 

 

1,000,000

 

 

$

0.3125

 

 

August 9, 2027