Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.20.1
Warrants
3 Months Ended
Mar. 31, 2020
Warrants and Rights Note Disclosure [Abstract]  
Warrants

14. WARRANTS

 

The Company has the following warrants outstanding as of March 31, 2020, all of which are exercisable:

 

    Warrants    

Weighted-
Average
Exercise

Price

   

Weighted-
Average

Remaining

Contractual

Life (Years)

   

Aggregate

Intrinsic

Value

 
                         
Outstanding at December 31, 2019     10,930,990     $ 3.07       4.25     $ -  
Granted     2,720,060       1.31       -       -  
Forfeited     -       -       -       -  
Exercised     -       -       -       -  
Outstanding at March 31, 2020, all vested     13,651,050     $ 2.72       4.12     $ -  

 

At March 31, 2020, the intrinsic value of these stock options was $0 as the exercise price of these stock warrants were greater than the market price.

 

During the period ended March 31, 2020, the Company granted 416,199 warrants to a consultant as part of a private placement offering and 2,303,861 warrants to Series A stockholders (see Note 11).