10K WTF ?
Note 11. Private Securities Offerings
On October 14, 2020, the Company entered into privately negotiated warrant exchange agreements with certain accredited investors, pursuant towhich
the investors purchased common stock at a range of $0.24 to $0.80 per share in exchange for warrants with an exercise price ranging from $0.30 to $1.00
per share of common stock. The Company issued approximately 7.0 million shares of common stock, $0.001 par value, in exchange for approximately
6.4 million warrants to purchase common stock, which resulted in net aggregate proceeds of approximately $2.7 million. In connection with this
transaction, the Company recognized approximately $2.2 million of non-cash inducement interest expense.On October 26, 2020, the Company entered into privately negotiated warrant exchange agreements with certain accredited investors, pursuant towhich
the investors purchased common stock at a range of $0.24 to $0.60 per share in exchange for warrants with an exercise price ranging from $0.30 to $0.75
per share of common stock. The Company issued approximately 5.0 million shares of common stock, $0.001 par value, in exchange for approximately
4.5 million warrants to purchase common stock, which resulted in net aggregate proceeds of approximately $1.6 million. In connection with this
transaction, the Company recognized approximately $1.4 million of non-cash inducement interest expense.
On November 17, 2020, the Company conducted a private equity offering, in which an accredited investor purchased unregistered common stock at 1$.50
per share. Pursuant to the offering, the Company sold approximately 0.67 million shares of common stock, $0.001 par value, for aggregate proceeds of
$1.0 million.
On November 30, 2020, the Company entered into a privately negotiated warrant exchange agreements with certain accredited investors, pursuant to which
the investors purchased common stock at $0.60 per share in exchange for warrants with an exercise price of$0.75 per share of common stock. The
Company issued approximately 0.5 million shares of common stock, $0.001 par value, in exchange for0.5 million warrants to purchase common stock,
which resulted in net aggregate proceeds of approximately $0.3 million.
AI
