STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2025

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY

8.    STOCKHOLDERS’ EQUITY

Preferred Stock

Pursuant to the terms of the Series A-1 Certificate of Designation, on May 7, 2025, the remaining 856 outstanding shares of Series A-1 Preferred Stock automatically converted into an aggregate of 690,788 shares of common stock and pre-funded Class C Warrants to purchase 1,282,412 shares of common stock. The Company filed a Certificate of Elimination with respect to the Series A-1 Certificate of Designation, pursuant to which, effective May 7, 2025, all matters set forth in the Series A-1 Certificate of Designation were eliminated from the Company’s Amended and Restated Certificate of Incorporation.

As of June 30, 2025, there were no shares of Series A-1 Preferred Stock outstanding.

Common Stock

Common Stock Issued to Vendors for Services

During the six months ended June 30, 2025, 160,000 shares of our common stock were issued to a vendor in consideration for services to be provided.

Common Stock Warrants

A summary of the Company’s warrants to purchase common stock activity is as follows:

					Weighted-
					Average
			Weighted-		Remaining
			Average		Contractual
	Number of	Exercise Price	Exercise		Term
	Shares	per Share	Price		(Years)
Warrants outstanding at January 1, 2025	5,171,430	$0.35 - $70.00	$	4.94	2.26
Issued	—			—
Exercised	(160)			0.35
Expired	—			—
Warrants outstanding at June 30, 2025	5,171,270	$0.35 - $70.00	$	4.94	1.77

A summary of the Company’s pre-funded warrants to purchase common stock activity is as follows:

		Weighted-
		Average
	Number of	Exercise
	Shares	Price
Pre-funded warrants outstanding at January 1, 2025	2,318,502	$	0.0064
Issued	1,282,412		0.0001
Exercised	—		—
Expired	—		—
Pre-funded warrants outstanding at June 30, 2025	3,600,914	$	0.0042