Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.20.2
Warrants
 6 Months Ended
Jun. 30, 2020
Warrants and Rights Note Disclosure [Abstract]  
Warrants
15. WARRANTS

 

The Company has the following warrants outstanding as of June 30, 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     10,930,991     $ 3.07       4.25     $ -  
Granted     2,720,060       1.61       -       -  
Forfeited     (117,013 )     5.33       -       -  
Exercised     -       -       -       -  
Outstanding at June 30, 2020, all vested     13,534,038     $ 2.59       3.90     $ -  

 

At June 30, 2020, there was no intrinsic value as the exercise price of these stock warrants were greater than the market price.

 

During the period ended June 30, 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 12).