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Warrants for Stock
 12 Months Ended
Dec. 31, 2021
Warrants For Stock [Abstract]  
Warrants for Stock

Note 8 – Warrants for Stock

 

At December 31, 2021 and 2020 warrants outstanding for common stock of the Company were as follows:

 

   Number of Shares Underlying Warrants  

Weighted Average Exercise

Price

 
Balance January 1, 2020   2,783,626   $1.29 
Granted   
-
   $- 
Exercised   
-
   $
-
 
Canceled   (76,779)  $9.14 
Balance December 31, 2020   2,706,847   $1.07 
Granted   
-
   $
-
 
Exercised   
-
    
-
 
Canceled   (58,226)  $5.27 
Balance December 31, 2021   2,648,621   $0.98 

 

All warrants were valued using the Black Scholes pricing model.

 

The following table summarizes information about underlying outstanding warrants for common stock of the Company outstanding and exercisable as of December 31, 2021:

 

   Warrants Outstanding   Weighted   Warrants Exercisable 
Range of Exercise Prices  Number of
Shares
Underlying
Warrants		   Weighted
Average
Exercise
Price		    Average
Remaining
Contractual
Life (in years)		   Number of
Shares
Underlying
Warrants		   Weighted
Average
Exercise
Price		 
$4.94 – $13.30   2,343   $9.50    1.68    2,343   $9.50 
$0.75 – $3.51   2,646,278   $      0.97          1.19    2,646,278   $       0.97 
    2,648,621              2,648,621      

 

The following table summarizes information about underlying outstanding warrants for common stock of the Company outstanding and exercisable as of December 31, 2020:

 

   Warrants Outstanding   Weighted   Warrants Exercisable 
Range of Exercise Prices  Number of
Shares
Underlying
Warrants		   Weighted
Average
Exercise
Price		    Average
Remaining
Contractual
Life (in years)		   Number of
Shares
Underlying
Warrants		   Weighted
Average
Exercise
Price		 
$4.94 – $13.30   41,090   $6.83    0.53    41,090   $6.83 
$0.75 – $3.51   2,665,757   $       0.98           2.18    2,665,757   $           0.98 
    2,706,847              2,706,847      

 

At each of December 31, 2021 and 2020 the aggregate intrinsic value of the warrants outstanding and exercisable was $0. The intrinsic value of a warrant is the amount by which the market value of the underlying warrant exercise price exceeds the market price of the stock at December 31 of each year.