Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item
3. Quantitative and Qualitative Disclosures About Market Risk.
As
of June 30, 2022, our exposure to market risk was primarily from our At The Market Facility. During the quarter the price at which we
sold our common stock per share fluctuated from $5.34 to $28.92 with an average price per share of $13.38. We would have risk on our
commercial credit facility had we drawn down upon it as the interest rate changes at the greater of 6% or the prime rate plus 2.75%.
We have no other floating debt obligations. Our interest rate exposure will be primarily
due to differences between our floating rate debt obligations compared to our floating rate short-term investments. Our ability to borrow under our Revolving Line of Credit is based upon a floating formula regarding the value of
collateral which is our owned bitcoin, thus decreases in the market price for bitcoin limit our ability to borrow under the facility.
There
have been no other material changes in our primary risk exposures or management of market risks as of this quarter.
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