Annual report pursuant to Section 13 and 15(d)

STOCKHOLDER???S EQUITY (Tables)

v3.22.1
STOCKHOLDER’S EQUITY (Tables)
12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
SCHEDULE OF MERGER CONSIDERATION

The following is in thousands:

         
Contributed cash portion of Merger Consideration   $ 6,000  
Contribution of Sonnet warrant portion of Merger Consideration     1,629  
Transaction cost incurred     (588 )
 Total   $ 7,041  
SUMMARY OF WARRANTS ACTIVITY

A summary of the warrant activity during the year ended December 31, 2021 is presented below:

 

    Number of Warrants     Weighted Average Exercise Price     Weighted Average Remaining Life  
Outstanding at December 31, 2020     3,409,200     $ 0.34       8.6  
Granted                      
Exercised                      
Forfeited/Other Adjustments                      
Outstanding at December 31, 2021     3,409,200     $ 0.34       7.6  
                         
Exercisable December 31, 2021     3,409,200     $ 0.34       7.6  
SCHEDULE OF OUTSTANDING WARRANTS

At December 31, 2021, the outstanding warrants consisted of the following:

 

Date issued   Number of warrants     Exercise Price     Expiration Date
April 1, 2020     2,462,600     $ 0.125     April 1, 2030
April 1, 2020     462,600     $ 0.500     April 1, 2030
March 30, 2020     350,000     $ 1.250     March 30, 2025
August 17, 2020     134,000     $ 1.250     August 17, 2025
      3,409,200