Annual report pursuant to Section 13 and 15(d)

Capitalization and Equity Structure (Tables)

v3.23.1
Capitalization and Equity Structure (Tables)
 12 Months Ended
Dec. 31, 2022
Capitalization, Long-Term Debt and Equity [Abstract]  
Schedule of Warrant Share Activity
Warrant shares outstanding as of December 31, 2022 and December 31, 2021 were as follows:
Source Exercise
Price		 Term
(Years)		 December 31, 2021 Issued Expired Exercised December 31, 2022
2021 Warrants $ 12.81  5 273  —  —  —  273 
June 2020 Investor Warrants $ 5.18  5.5 127  —  —  —  127 
June 2020 Placement Agent Warrants $ 5.64  5 39  —  —  —  39 
December 2019 Warrants $ 8.10  5 556  —  —  —  556 
December 2019 Placement Agent Warrants $ 8.44  5 52  —  —  —  52 
May 2019 Warrants $ 3.52  3 193  —  —  —  193 
  1,240  —  —  —  1,240 
Schedule of Assumptions used in Black-Scholes Model to Measure Fair Value The following assumptions were used in the Black-Scholes Model to measure the fair value of the 2021 Warrants:
December 31, 2022 December 31, 2021
Current share price $ 1.19  $ 2.65 
Conversion price $ 12.81  $ 12.81 
Risk-free interest rate 4.21  % 1.13  %
Expected term (years) 3.11 4.11
Volatility of stock 99.6  % 98.3  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the June 2020 Investor Warrants:
December 31, 2022 December 31, 2021
Current share price $ 1.19  $ 2.65 
Conversion price $ 5.18  $ 5.18 
Risk-free interest rate 4.23  % 1.11  %
Expected term (years) 2.94 3.94
Volatility of stock 99.6  % 103.9  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the June 2020 Placement Agent Warrants:
December 31, 2022 December 31, 2021
Current share price $ 1.19  $ 2.65 
Conversion price $ 5.64  $ 5.64 
Risk-free interest rate 4.33  % 1.03  %
Expected term (years) 2.44 3.44
Volatility of stock 73.5  % 100.0  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the December 2019 Warrants:
December 31, 2022 December 31, 2021
Current share price $ 1.19  $ 2.65 
Conversion price $ 8.10  $ 8.10 
Risk-free interest rate 4.32  % 1.04  %
Expected term (years) 2.47 3.47
Volatility of stock 73.3  % 99.7  %
The following assumptions were used in the Black-Scholes Model to measure the fair value of the December 2019 Placement Agent Warrants:
December 31, 2022 December 31, 2021
Current share price $ 1.19  $ 2.65 
Conversion price $ 8.44  $ 8.44 
Risk-free interest rate 4.42  % 0.96  %
Expected term (years) 1.97 2.97
Volatility of stock 71.8  % 102.9  %
December 31, 2022 December 31, 2021
Current share price $ 1.19  $ 2.65 
Conversion price $ 3.52  $ 3.52 
Risk-free interest rate 4.6  % 0.83  %
Expected term (years) 1.40 2.40
Volatility of stock 74.5  % 109.1  %