Quarterly report pursuant to Section 13 or 15(d)

STOCK WARRANTS

v3.24.3
STOCK WARRANTS
9 Months Ended
Sep. 30, 2024
Stock Warrants  
STOCK WARRANTS

12. STOCK WARRANTS

 

The Company has the following warrants outstanding as of September 30, 2024, all of which are exercisable:

 SCHEDULE OF WARRANTS OUTSTANDING

    Warrants     Weighted-
Average
Exercise
Price
    Weighted-
Average
Remaining
Contractual
Life (Years)
    Aggregate
Intrinsic
Value
 
                         
Outstanding at January 1, 2024     4,598     $ 6,752.00       3.10     $ -  
Granted     -       -       -       -  
Forfeited     (1,053 )     24,098.44       -       -  
Exercised     -       -       -       -  
Outstanding at September 30, 2024, all vested     3,545     $ 1,769.64       3.18     $ -  

 

At September 30, 2024 the intrinsic value of the outstanding warrants was $0.

 

On January 24, 2023, the Company entered into an underwriting agreement with Aegis relating to the January 2023 offering, issuance and sale of 4,506 shares of the Company’s common stock at a public offering price of $1,600.00 per share. As a result of this transaction, certain warrants which previously had an exercise price of $2,720.00 per share, had the exercise price reduced to $1,600.00 per share, which resulted in the Company recognizing a deemed dividend of $164.

 

At the close of business on April 5, 2024, the Company’s unexercised publicly traded warrants under the symbol VERBW expired pursuant to their original terms and as such Nasdaq suspended trading the 879 remaining warrants and the trading symbol VERBW was delisted from Nasdaq.