Warrants to Purchase Common Stock

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Warrants to Purchase Common Stock

Note 10 – Warrants to Purchase Common Stock

Warrant Conversions

On February 8, 2021, the Company received $8,305,368 in additional gross proceeds associated with the exercise of 2,516,778 of warrants issued at a price of $3.30 in connection with a securities purchase agreement dated August 4, 2020.

A summary of activity related to warrants for the three months ended March 31, 2021 follows:

	Shares			Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at January 1, 2021		2,516,778		$	3.30		0.83
Issued		—			—		—
Exercised		(2,516,778	)		3.30		—
Outstanding at March 31, 2021		—		$	—		—
Exercisable at March 31, 2021		—		$	—		—

A summary of activity related to warrants for the three months ended March 31, 2020 follows:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at January 1, 2020		4,531,924	$	0.72		4.05
Outstanding at March 31, 2020		4,531,924	$	0.72		3.80
Exercisable at March 31, 2020		4,531,924	$	0.72		3.80