v3.25.1
WARRANTS
 12 Months Ended
Dec. 31, 2024
Warrants  
WARRANTS

7. WARRANTS

 

A summary of warrants to purchase common stock issued during the years ended December 31, 2024 and 2023 is as follows:

 

  

Number of Underlying

Shares

  

Weighted

Average

Exercise Price

 
Balance outstanding at December 31, 2022   22,313,335   $0.61 
Granted   2,733,334    0.60 
Exchanged for shares of common stock   (21,733,334)   0.60 
Exercised   -    - 
Expired   -    - 
Balance outstanding and exercisable at December 31, 2023   3,313,335   $0.66 
Granted   -    - 
Exercised   -    - 
Expired   (146,668)   3.00 
Balance outstanding and exercisable at December 31, 2024   3,166,667   $0.56 

 

 

In October 2023, the Company entered into warrant exchange agreements with certain holders of warrants to exchange warrants to purchase a total of 21,733,334 shares of the Company’s common stock for an aggregate of 2,173,334 shares of the Company’s common stock. At December 31, 2024 and 2023, the outstanding stock warrants had no intrinsic value.