Note 13. Equity-classified Warrants

On August 4, 2020, the Company issued a warrant to an underwriter (the “Underwriter Warrant”) to purchase 240,100 shares of common stock. The Underwriter Warrant is exercisable at a per share exercise price of $11.00 and is exercisable at any time from and after January 31, 2022 through August 4, 2025. As of December 31, 2022, no portion of the Underwriter Warrant was issued, exercised, or expired.

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