Quarterly report pursuant to Section 13 or 15(d)

Equity (Tables)

v3.21.2
Equity (Tables)
 6 Months Ended
Jun. 30, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]  
Summary of Warrant Activity

The table below summarizes the warrant activity for the six months ended June 30, 2021:

 

              Average        
          Weighted     Remaining        
          Average     Contractual     Aggregate  
    Number of     Exercise     Term     Intrinsic  
    Warrants     Price    

(years)

     Value  
Balance as of December 31, 2020     -     $ -       -     $ -  
Assumed from Merger     5,363,547       5.19         5.02       -  
Granted     -       -       -       -  
Exercised     -       -       -       -  
Forfeited     -       -       -       -  
Canceled/Expired     -       -       -       -  
Balance as of June 30, 2021     5,363,547     $ 5.19       4.85     $ 11,366,055  
Exercisable as of June 30, 2021     5,363,547     $ 5.19       4.85     $ 11,366,055  
Pre-funded Common Stock Warrants [Member]  
Accumulated Other Comprehensive Income (Loss) [Line Items]  
Summary of Warrant Activity

The table below summarizes the pre-funded warrant activity for the six months ended June 30, 2021:

 

              Average        
          Weighted     Remaining        
          Average     Contractual     Aggregate  
    Number of     Exercise     Term     Intrinsic  
    Warrants     Price    

(years)

     Value  
Balance as of December 31, 2020     -     $ -        -     $ -  
Assumed from Merger     986,486       0.002       -       -  
Granted     -       -       -       -  
Exercised     466,216       0.002       -       -  
Forfeited     -       -       -       -  
Canceled/Expired     -       -       -       -  
Balance as of June 30, 2021     520,270     $ 0.002       -     $ 3,276,600  
Exercisable as of June 30, 2021     520,270     $ 0.002       -     $ 3,276,660  
Series C Convertible Preferred Stock [Member]  
Accumulated Other Comprehensive Income (Loss) [Line Items]  
Summary of Warrant Activity

The table below summarizes the activity during the six months period ended June 30, 2021 for warrants issued in December 2019 for the purchase of Series C Convertible Preferred Stock:

 

          Weighted     Average        
          Average     Remaining     Aggregate  
    Number of     Exercise     Contractual     Intrinsic  
    Warrants     Price     Term (years)     Value  
Balance as December 31, 2020     -     $ -       -     $ -  
Assumed from Merger     27,500       8.00       3.65       -  
Granted     -       -       -       -  
Exercised     -       -       -       -  
Forfeited     -       -       -       -  
Canceled/Expired     -       -       -       -  
Balance as of June 30, 2021     27,500     $ 8.00       3.45     $ -  
Exercisable as of June 30, 2021     27,500     $ 8.00       3.45     $ -  

 

The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing stock price of $6.30 for the Company’s Common Stock on June 30, 2021. All warrants to purchase Series C Convertible Preferred Stock were vested on the date of grant.

 

The warrants for the of Series C Convertible Preferred Stock outstanding as of June 30, 2021 represent underlying shares of Company Common Stock of 27,500.