And for good reason. From today's 8-k
With respect to the second closing, the Company paid a placement fee of $37,500, including expenses and issued one five-year warrant exercisable in an aggregate amount of 107,143 shares of Common Stock at an exercise price of $0.35 per share and one five-year warrant exercisable in the aggregate amount of 146,739 shares of Common Stock at an exercise price of $0.23 per share.