Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.20.2
Warrants
 6 Months Ended
Jun. 30, 2020
Warrants  
Warrants

Note 9 — Warrants

A summary of the Company’s warrant activity and related information is as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Warrants

    

Pre-Funded Warrants

 

    

 

    

Weighted 

    

 

    

Weighted 

 

 

 

 

Average 

 

 

 

Average 

 

 

 

 

Exercise 

 

 

 

Exercise 

 

    

Activity

    

Price

    

Activity

    

Price

Outstanding at December 31, 2019

 

2,463,063

 

$

7.96

 

868,443

 

$

0.001

Exercised

 

(75,718)

 

$

2.32

 

(150,000)

 

$

0.001

Expired

 

(616,648)

 

$

24.28

 

 —

 

$

 —

Outstanding at June 30, 2020

 

1,770,697

 

$

2.51

 

718,443

 

$

0.001

 

During the six months ended June 30, 2020, warrant holders exercised 75,718 Series A warrants and 150,000 Series B pre-funded warrants for proceeds to the Company of $175,816.  

At June 30, 2020, all warrants are exercisable, although the warrants held by each of the Company’s four largest beneficial owners may be exercised only to the extent that the total number of shares of common stock then beneficially owned by such shareholder does not exceed 9.99% of the outstanding shares of the Company’s common stock. See Note 11.