Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity (Tables)

v3.24.3
Stockholders’ Equity (Tables)
 9 Months Ended
Sep. 30, 2024
Stockholders’ Equity [Line Items]  
Schedule of Fair Values at the Commitment Date for the Warrants The fair values at the commitment date for the warrants were based upon the following management assumptions as of the date of issuance:
    Issuance
date		  
Risk-free interest rate     1.93 %
Expected dividend yield    
-
 %
Expected volatility     144 %
Term      5 years  
Fair value of common stock   $ 1.41  

 
Schedule of Warrant and Stock Option Grants with Time-Based Vesting The number of shares of the Company’s common stock that are issuable pursuant to warrant and stock option grants with time-based vesting as of and for the nine months ended September 30, 2024 were:
    Warrant Grants     Stock Option Grants     Restricted
Stock
Units		  
    Number of
shares
subject to
warrants		     Weighted-
average
exercise
price per
share		     Number of
shares
subject to
options		     Weighted-
average
exercise
price per
share		     Number of
shares
subject to
restricted
stock units		  
Balance at December 31, 2023     11,394     $ 58.72       3,333     $ 39.60       165,663  
Granted     4,887,118       1.53      
-
      
-
       123,690  
Exercised    
-
      
-
      
-
      
-
       (125,357 )
Cancelled/Expired     (2,293 )     53.64      
-
      
-
       (41,722 )
Balance at September 30, 2024     4,896,219     $ 1.64       3,333     $ 39.60       122,274  
Exercisable at September 30, 2024     4,896,219     $ 1.64       3,333     $ 39.60       122,274  
The number of shares of the Company’s common stock that are issuable pursuant to warrant and stock option grants with time-based vesting as of and for the nine months ended September 30, 2023 were:
    Warrant Grants     Stock Option Grants     Restricted
Stock
Units		  
    Number of
shares
subject to
warrants		     Weighted-
average
exercise
price per
share		     Number of
shares
subject to
options		     Weighted-
average
exercise
price per
share		     Number of
shares
subject to
restricted
stock units		  
Balance at December 31, 2022     104,515     $ 20.25       7,889     $ 48.75       160,650  
Granted    
-
      
-
      
-
      
-
       58,105  
Exercised     (54,872 )     9.75      
-
      
-
       (47,706 )
Cancelled/Expired     (4,812 )     120.75       (1,222 )     98.55       (4,610 )
Balance at September 30, 2023     44,831     $ 22.20       6,667     $ 39.60       166,439  
Exercisable at September 30, 2023     44,831     $ 22.20       6,667     $ 39.60       162,606  
Schedule of Stock-Based Compensation Expense Stock-based compensation expense for three and nine months ended September 30, 2024 and 2023 is as follows:
    For the three months ended     For the nine months ended  
    September 30,     September 30,  
    2024     2023     2024     2023  
Stock-based compensation expense   $
      -
     $ 40,547     $
        -
     $ 336,293  
Warrant [Member]  
Stockholders’ Equity [Line Items]  
Schedule of Company’s Outstanding Warrants and Options The Company’s outstanding warrants and options at September 30, 2024 are as follows:
Warrants Outstanding     Warrants Exercisable  
Exercise Price
Range		     Number
Outstanding		       Weighted Average
Remaining
Contractual Life
(in years)		       Weighted
Average
Exercise Price		     Number
Exercisable		     Weighted
Average
Exercise Price		       Intrinsic
Value		  
$1.43 - $60.00     4,896,219       4.79     $ 1.64     4,896,219   $ 1.64      
        -
  
Options Outstanding     Options Exercisable  
Exercise Price
Range		   Number
Outstanding		     Weighted Average
Remaining
Contractual Life
(in years)		     Weighted
Average
Exercise Price		     Number
Exercisable		   Weighted
Average
Exercise Price		     Intrinsic
Value		  
$39.60     3,333       0.16     $ 39.60     3,333   $ 39.60      
   -