Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Warrants (Tables)

v3.20.2
Note 4 - Warrants (Tables)
9 Months Ended
Sep. 30, 2020
Notes Tables  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]
   

Number of Shares Under Outstanding Warrants at

   

Number of Shares Under Outstanding Warrants at

   

Weighted Average Exercise Price at

   

Remaining Contractual Life at September 30, 2020

 
   

September 30, 2020

   

December 31, 2019

   

September 30, 2020

   

(No. Years)

 

Liability Classified Warrants (1)

                               

Issued February 2017

    404,002       404,002     $ 1.50       1.4  

Issued February 2018

    2,273,700       2,273,700       2.80       2.9  

Issued June 2018 (2)

    742,991       742,991       2.03       3.2  

Issued March 2019

    1,581,000       1,585,500       1.10       3.5  

Issued April 2019

    5,250,000       5,250,000       1.75       3.6  

Issued February 2020

    6,150,000             1.05       4.8  
      16,401,693       10,256,193     $ 1.58          

Equity Classified Warrants

                               

Issued May 2016 - Bonwick

    107,802       107,802     $ 7.50       0.6  

Issued July 2017 - Consulting (3)

    150,000       150,000       2.61       1.8  

Issued April 2018 - Consulting

    100,000       100,000       3.00       0.5  

Issued August 2019 - Consulting

    150,000       150,000       1.64       1.9  

Issued April 2020 - Consulting

    100,000             1.14       4.6  
      607,802       507,802     $ 3.06          

Balance outstanding

    17,009,495       10,763,995     $ 1.63          
Schedule of Warrants or Rights, Assumptions Used [Table Text Block]
   

September 30, 2020

   

December 31, 2019

 

Risk-free interest rate

  0.1% to 0.3%     1.6% to 1.7%  

Volatility

  112.5% to 124.1%     97.5% to 107.5%  

Expected life (years)

  1.4 to 4.9     2.1 to 4.3  

Dividend yield

  —%     —%  
Schedule of Warrant Activity [Table Text Block]
   

Number of Shares

   

Range of Warrant Exercise

   

Weighted Average

   

Weighted Average Remaining Contractual

 
   

Under Warrant

   

Price per Share

   

Exercise Price

   

Life (Years)

 

Balance at January 1, 2020

    10,256,193     $ 1.10     $ 2.80     $ 1.89       4.0  

Granted

    6,150,000       1.05       1.05       1.05       4.8  

Exercised

    (4,500 )     1.10       1.10       1.10        

Expired

                             

Balance at September 30, 2020

    16,401,693     $ 1.05     $ 2.80     $ 1.58       3.9  
                                         

Vested and Exercisable at September 30, 2020

    16,401,693     $ 1.10     $ 2.80     $ 1.89       3.9