General form of registration statement for all companies including face-amount certificate companies

WARRANTS (Tables)

v3.24.2.u1
WARRANTS (Tables)
6 Months Ended
Jun. 30, 2024
Warrants  
SUMMARY OF AGGREGATE FAIR VALUES FOR THE WARRANT DERIVATIVE LIABILITY

The following table summarizes the calculated aggregate fair values for the warrant derivative liability using the Black-Scholes method based on the following assumptions for the March 8, 2024 Direct Offering:

 

SUMMARY OF AGGREGATE FAIR VALUES FOR THE WARRANT DERIVATIVE LIABILITY 

Exercise price per share of warrant   $ 1.64  
Fair market closing price per share of Common Stock   $ 1.56  
Volatility     132 %
Expected term (years)     5  
Risk-free interest rate     4.06 %
Dividend yield     0 %
SCHEDULE OF CLASS OF WARRANT

 

   

Number of

warrants issued

   

Weighted-average

exercise price

   

Number of

warrants exercised

   

Number of

warrants outstanding

 
Pre-IPO convertible notes     2,900,904     $ 5.31             2,900,904  
IPO tradeable     2,326,834       3.06       (725,576 )     1,601,259  
IPO non-tradeable     3,015,464       3.06       (310,958 )     2,704,506  
Direct offering March 8, 2024     1,600,000       1.64             1,600,000  
Placement agent direct offering March 8, 2024     32,000       1.64             32,000  
Balance at June 30, 2024     9,875,202     $ 3.53       (1,036,534 )     8,838,669