Quarterly report pursuant to Section 13 or 15(d)

17. Warrants

v3.20.2
17. Warrants
3 Months Ended
Mar. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Warrants

NOTE 17 – WARRANTS

 

Warrants are immediately exercisable upon issuance. The following table shows warrant activity for the three months ended March 31, 2020.

 

    Number of shares     Weighted Average Exercise Price  
Warrants outstanding as of December 31, 2019     692,034     $ 2.88  
Issued in conjunction with debt     124,481     $ 2.41  
Warrants outstanding as of March 31, 2020     816,515     $ 2.81  
Warrants exercisable as of March 31, 2020     816,515     $ 2.81  

 

The weighted-average life of the warrants is 1.8 years. The aggregate intrinsic value of the warrants outstanding and exercisable at March 31, 2020 is $0.