Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

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Warrants (Tables)
3 Months Ended
Mar. 31, 2024
Warrants and Rights Note Disclosure [Abstract]  
Schedule of Warrant Activity
The following table summarizes the Company’s warrant activity:
Warrants Weighted-Average Remaining Contractual Life Weighted-Average Exercise Price per Share
Outstanding at December 31, 2023 6,852,952 4.16 $ 8.19 
Granted $ – 
Exercised $ – 
Expired (26,000) $ 26.88 
Forfeitures $ – 
Outstanding at March 31, 2024 6,826,952 3.93 $ 8.12 
Exercisable at March 31, 2024 6,826,952 3.93 $ 8.12 
Exercisable at December 31, 2023 6,852,952 4.16 $ 8.19 
Schedule of Assumptions for Warrant Activity
The fair value of the outstanding derivative warrants was determined by using the Black-Scholes Merton option pricing model based on the following assumptions as of March 31, 2024:
Market Price $ 1.37 
Exercise Price $ 2.10 
Dividend Yield –  %
Volatility 87  %
Risk-free Interest Rate 5.03  %
Expected Life of Warrants 0.95 years