Quarterly report [Sections 13 or 15(d)]

Warrant Liability (Tables)

v3.25.1
Warrant Liability (Tables)
 3 Months Ended
Mar. 31, 2025
Short-Term Debt [Line Items]  
Schedule of Warrant Liability Transactions

The details of warrant liability transactions were as follows:

 

             
    Three Months Ending  
    March 31, 2025     March 31, 2024  
    (Unaudited)     (Unaudited)  
Beginning balance   $ 252,000     $ 1,052,000  
Issuance of warrants at fair value     —       —  
Change in fair value     (126,000 )     (658,000 )
Extinguishment     —       —  
Ending balance   $ 126,000     $ 394,000  
2023 Warrants [Member]  
Short-Term Debt [Line Items]  
Schedule of Warrant Liability Assumptions

The 2023 Warrant liability is valued using a BlackScholes Option pricing model with the following assumptions:

 

    2023 Warrants  
    March 31, 2025     December 31, 2024  
    (Unaudited)        
Stock price   $ 2.15     $ 3.05  
Risk-free interest rate 1     3.89 %     4.27 %
Expected volatility 2     112 %     114 %
Expected life (in years) 3     2.75 – 3.25       3.00 – 3.50  
Expected dividend yield 4     —       —  
Fair value of warrants   $ 126,000     $ 252,000  

 

1 Based on rates established by the Federal Reserve Bank
2 Historical volatility of the Company’s common stock is used to estimate the future volatility of its common stock
3 Determined by the remaining contractual life of the derivative instrument
4 Based on no dividends paid or expected to be paid