STOCK WARRANTS |
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| STOCK WARRANTS |
11. STOCK WARRANTS
The Company has the following warrants outstanding as of June 30, 2024, all of which are exercisable:
At June 30, 2024 the intrinsic value of the outstanding warrants was $.
On January 24, 2023, the Company entered into an underwriting agreement with Aegis relating to the January 2023 offering, issuance and sale of shares of the Company’s common stock at a public offering price of $ per share. As a result of this transaction, certain warrants which previously had an exercise price of $13.60 per share, had the exercise price reduced to $8.00 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 remaining warrants and the trading symbol VERBW was delisted from Nasdaq.
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