Quarterly report pursuant to Section 13 or 15(d)

Stockholders??? Equity

v3.21.2
Stockholders’ Equity
 6 Months Ended
Jun. 30, 2021
Equity [Abstract]  
Stockholders’ Equity

5. Stockholders’ Equity

 

As of June 30, 2021, 526,137 shares of the 908,242 shares of the common stock grant had vested at approximately $1,183,785 value and 382,105 shares remain unvested and unrecognized at approximately $859,736 value. An aggregate of 146,712 shares of common stock were vested at approximately $330,102 value in January through June 2021 in consideration for services rendered.

 

On January 29, 2021, in connection with our December 2020 follow-on offering, the underwriter exercised its option to purchase 70,000 additional shares of common stock at the public offering price of $40.00 per share for gross proceeds of $2,800,000 and net proceeds of $2,548,000, after deducting underwriting discounts and commissions and offering expenses borne by the Company, which totaled $252,000.

 

Warrants

 

At June 30, 2021, outstanding warrants to purchase shares of common stock accounted for as equity or liabilities were as follows with an aggregate intrinsic value as of June 30, 2021 of $4,533,098 based on the June 30, 2021 closing share price of $44.94:

 

Shares Underlying              
Outstanding     Exercise     Expiration  
Warrants     Price(1)     Date(1)  
100,870   $ 7.1875       September 24, 2025  
100,870                  

 

(1)

The warrants are exercisable at any time and from time to time, in whole or in part, during a period commencing March 24, 2021 and expiring September 24, 2025. The exercise price of the warrants is $7.1875 per share or $6.9718 per share if the warrants are exercised for cash within the first six months of the period in which they are exercisable.