Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v3.23.1
Warrants (Tables)
 12 Months Ended
Dec. 31, 2022
Warrants and Rights Note Disclosure [Abstract]  
Schedule of warrant activity The following table summarizes the changes in the Company's outstanding warrants during the years ended December 31, 2022 and December 31, 2021:
Warrants Outstanding Number of
Shares 		Exercise Prices
Per Share		 Weighted Average Remaining
Contractual Life		 Weighted Average Exercise Price Per
Share
Balance at December 31, 2021 4,551,197
$ 2.10 - 53.00
 4.77 $ 22.66 
Granted – $ –  – $ – 
Exercised – $ –  – $ – 
Expired (67,604)
$ 33.00 - 53.00
 – $ 39.34 
Forfeitures (50,000) $ 13.90  – $ 13.90 
Balance at December 31, 2022 4,433,593
$ 2.10 - 30.00
 3.37 $ 22.50 
Exercisable December 31, 2022 4,433,593
$ 2.10 - 30.00
 3.37 $ 22.50 
Exercisable December 31, 2021 4,451,197
$ 2.10 - 53.00
 4.77 $ 22.66 
Schedule of assumptions for warrant activity
The fair value of the outstanding derivative warrants was determined by using the Black-Scholes option pricing model ("BSM") based on the following assumptions:
Exercise Price $ 2.10 
Dividend Yield –  %
Volatility 95  %
Risk-free interest rate 4.37  %
Expected life of options 2.2 years