Annual report pursuant to Section 13 and 15(d)

Stockholders' equity (deficit)

v3.22.1
Stockholders' equity (deficit)
 12 Months Ended
Dec. 31, 2021
Stockholders' Equity Note [Abstract]  
Stockholders' equity (deficit) Stockholders’ equity (deficit)
On January 22, 2021, the Company consummated a private placement of common stock units (the “January 2021 Private Placement”) in which the Company raised approximately $4.1 million, including an investment by certain officers, directors, employees and associated related parties thereto of approximately $1.6 million. Each common stock unit was sold at a per unit price of $7.50 and consisted of (i) one share of the Company’s common stock, par value $0.001 per share; and (ii) a warrant to purchase one share of common stock. The proceeds were used to pay expenses related to the offering and for general corporate purposes. In connection with the January 2021 Private Placement, the Company entered into a registration rights agreement (the “January 2021 Registration Rights Agreement”) pursuant to which the Company filed a registration statement to register the shares of common stock issued, and issuable upon the exercise of the warrants issued, in the January 2021 Private Placement.
See "Note 1 - Nature of business and summary of significant accounting policies" for additional information regarding the impacts to the Company's Stockholders’ equity (deficit) related to the Company's IPO.
The Company has reserved common stock for future issuance as follows for the years ended December 31, 2021 and 2020:
  December 31, 2021 December 31, 2020
Conversion of Series F Preferred Stock —  7,251,189 
Exercise of options to purchase common stock 2,684,041  1,302,574 
Exercise of warrants to purchase common stock 9,433,584  9,916,997 
Conversion of notes payable —  1,255,039 
Total 12,117,625  19,725,799