Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.23.3
Warrants (Tables)
9 Months Ended
Sep. 30, 2023
Warrants  
Summary of Warrant Activity

The following is a summary of activity in the number of warrants outstanding to purchase the Company’s common stock for the nine months ended September 30, 2023 (in thousands):

 

Summary of Warrant Activity

   

Warrants

Accounted for as: Equity

   

Warrants

Accounted for as:

Liabilities

       
    May 2018
Warrants
    October 2013
Warrants
    January 2014
Warrants
    Total  
Outstanding, December 31, 2022          -       2       11       13  
Exercised     -       -       -       -  
Granted     -       -       -       -  
Expired     -       -       -       -  
Outstanding, September 30, 2023     -       2       11       13  
Expiration date:     -       10/24/2023       01/16/2024       -  
Schedule of Fair Value of Warrants Classified as Liabilities

The fair value of the warrants classified as liabilities is estimated using the Black-Scholes option-pricing model with the following inputs as of September 30, 2023:

 

Schedule of Fair Value of Warrants Classified as Liabilities

    October 2013
Warrants
    January 2014
Warrants
 
             
Strike price   $ 180.00     $ 180.00  
Expected dividend yield     0.00 %     0.00 %
Contractual term (years)     0.1       0.3  
Cumulative volatility     133.64 %     134.93 %
Risk-free rate     4.93 %     4.89 %
Value per warrants   $ 0.00     $ 0.00  
Fair value (in thousands)   $ 0.00     $ 0.00  

 

The fair value of the warrants classified as liabilities is estimated using the Black-Scholes option-pricing model with the following inputs as of December 31, 2022:

 

    October 2013
Warrants
    January 2014
Warrants
 
             
Strike price   $ 180.00     $ 180.00  
Expected dividend yield     0.00 %     0.00 %
Expected term (years)     0.8       1.0  
Cumulative volatility     143.06 %     145.00 %
Risk-free rate     4.42 %     4.40 %
Fair value (in thousands)   $ 0.00     $ 0.00