Quarterly report [Sections 13 or 15(d)]

STOCK WARRANTS

v3.25.3
STOCK WARRANTS
 9 Months Ended
Sep. 30, 2025
Stock Warrants  
STOCK WARRANTS

12. STOCK WARRANTS

 

The Company has the following warrants outstanding as of September 30, 2025, all of which are exercisable:

 

    Warrants     Weighted-
Average
Exercise
Price		     Weighted-
Average
Remaining
Contractual
Life (Years)		     Aggregate
Intrinsic
Value		  
                         
Outstanding at January 1, 2025     3,545     $ 1,769.64       2.92     $ -  
Granted     1,677,996       0.0001       -       11,813  
Forfeited     (149 )     1,600.00       -       -  
Exercised     -       -       -       -  
Outstanding at September 30, 2025, all vested     1,681,392     $ 3.23       N/A     $ 11,813  

 

As of September 30, 2025, the intrinsic value of the outstanding warrants was $11,813.

 

As discussed in Note 8, in connection with the PIPE offering, pre-funded warrants were granted to purchase up to an aggregate of 1,677,996 shares of Common Stock at a purchase price per warrant of $9.5099. Each of the pre-funded warrants is exercisable for one share of Common Stock at the exercise price of $0.0001 per pre-funded warrant share, immediately exercisable, and may be exercised at any time until all of the pre-funded warrants issued in the PIPE are exercised in full. There is no expiration date or contractual life associated with the pre-funded warrants and therefore, the weighted-average remaining contractual life cannot be calculated.