Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v3.24.1
Warrants (Tables)
12 Months Ended
Dec. 31, 2023
Class of Warrant or Right [Line Items]  
Schedule of Assumptions Used for Calculating Issuance Date Fair Value of Warrants

The following assumptions were used to calculate the issuance date fair value:

 

Exercise price of the warrants

 

$

2.50

 

Contractual life of the warrants

 

5 years

 

Current value of the underlying common stock

 

$

2.03

 

Expected volatility

 

 

186.14

%

Expected dividend yield

 

 

0.00

%

Risk-free interest rate

 

 

4.12

%

Schedule of Warrant Activities

The table below summarizes the Company’s warrant activities:

 

Number of

 

 

 

 

 

 

Common

 

 

Exercise Price

 

 

Weighted

 

 

Share

 

 

Range Per

 

 

Average

 

 

Warrants

 

 

Share

 

 

Exercise Price

 

Balance at January 1, 2023

 

 

412,218

 

 

$5.72 to $31.60

 

 

$

23.68

 

Granted

 

 

232,500

 

 

$2.50 to $5.00

 

 

 

3.49

 

Forfeited

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

Balance at December 31, 2023

 

 

644,718

 

 

$2.50 to $31.60

 

 

$

16.40

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2022

 

 

412,218

 

 

$5.72 to $31.60

 

 

$

23.68

 

Granted

 

 

 

 

 

 

 

 

 

Forfeited

 

 

 

 

 

 

 

 

 

Exercised

 

 

 

 

 

 

 

 

 

Balance at December 31, 2022

 

 

412,218

 

 

$5.72 to $31.60

 

 

$

23.68