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

WARRANTS (Tables)

v3.24.3
WARRANTS (Tables)
9 Months Ended
Sep. 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 Offering:

 

Exercise price per share of warrant   $ 1.50  
Fair market closing price per share of Common Stock   $ 1.65  
Volatility     135 %
Expected term (years)     5
 
Risk-free interest rate     3.62 %
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     2,326,835       3.06       (725,576 )     1,601,259  
IPO non-tradeable     3,015,464       3.06       (310,910 )     2,704,554  
Direct offering March 8, 2024     1,600,000       1.64       (1,066,763 )     533,237  
Placement agent direct offering March 8, 2024     32,000       1.64               32,000  
Inducement/direct offering August 5, 2024     1,752,082       1.50             1,752,082  
Placement agent direct offering August 5, 2024     49,862       1.50             49,862  
Balance at September 30, 2024     11,677,147     $ 3.53       (2,103,249 )     9,573,898