Warrants (Tables)
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12 Months Ended |
Dec. 31, 2015 |
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| Warrants [Abstract] |
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| Summary Of Changes In Warrants Outstanding During The Period |
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2015
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2014
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Number of warrants
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Weighted average exercise price
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Number of warrants
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Weighted average exercise price
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Balance, January 1
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13,205,871
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$
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1.07
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24,968,868
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$
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0.86
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Issued during the period
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13,333,333
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$
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0.53
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4,761,905
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$
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1.28
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Exercised during the period
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(47,300)
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$
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0.47
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(12,058,871)
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$
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0.52
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Expired during the period
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-
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$
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-
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(4,466,031)
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$
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1.59
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Balance, December 31
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26,491,904
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$
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0.80
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13,205,871
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$
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1.07
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| Schedule Of Fair Value Of Warrants Issued |
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Fair Value as of:
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Warrant Issuance:
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December 31, 2015
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December 31, 2014
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March 31, 2011 financing:
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Warrants to institutional investors
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$
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30
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$
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319,277
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December 4, 2012 financing:
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Warrants to institutional investors
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9,818
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90,052
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Warrants to placement agent
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1,206
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14,595
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July 26, 2013 financing:
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Warrants to institutional investors
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121,420
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788,314
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Warrants to placement agent
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384
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30,594
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October 16, 2013 financing:
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Warrants to institutional investors
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169,349
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949,756
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Warrants to placement agent
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970
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96,563
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January 21, 2014 financing:
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Warrants to institutional investors
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131,476
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1,479,200
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November 12, 2015 financing:
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Warrants to institutional investors
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2,169,375
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-
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Warrants to placement agent
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135,135
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-
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Total:
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$
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2,739,163
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$
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3,768,351
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| Summary Of Shares Indexed To The Warrants |
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Number of Shares indexed as of:
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Warrant Issuance
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December 31, 2015
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December 31, 2014
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March 31, 2011 financing:
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Warrants to institutional investors
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3,333,333
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3,333,333
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December 4, 2012 financing:
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Warrants to institutional investors
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174,300
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221,600
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Warrants to placement agent
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40,000
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40,000
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July 26, 2013 financing:
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Warrants to institutional investors
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2,000,000
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2,000,000
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Warrants to placement agent
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124,032
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124,032
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October 16, 2013 financing:
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Warrants to institutional investors
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2,317,309
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2,317,309
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Warrants to placement agent
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407,692
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407,692
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January 21, 2014 financing:
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Warrants to institutional investors
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4,761,905
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4,761,905
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November 12, 2015 financing:
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Warrants to institutional investors
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12,500,000
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-
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Warrants to placement agent
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833,333
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-
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Total:
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26,491,904
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13,205,871
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| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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December 31, 2015
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December 31, 2014
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Trading market prices
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$
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0.36
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$
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0.70
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Estimated future volatility
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105
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%
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108
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%
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Dividend
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-
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-
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Estimated future risk-free rate
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0.82-2.38
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%
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0.74-1.90
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%
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Equivalent volatility
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44-65
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%
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65-78
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%
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Equivalent risk-free rate
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0.22-1.11
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%
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0.18-0.63
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%
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| Schedule Of Unrealized Gain/(Loss) On Fair Value Of Warrants |
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Year Ended December 31,
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2015
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2014
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2013
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Exercised and Expired Warrants
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$
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-
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$
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(277,769)
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$
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104,887
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March 31, 2011 financing:
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Warrants to institutional investors
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319,247
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(7,917)
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(5,027)
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December 4, 2012 financing:
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Warrants to institutional investors
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70,856
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(4,120,103)
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(1,598,195)
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Warrants to placement agent
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13,389
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(514,881)
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(75,062)
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July 26, 2013 financing:
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Warrants to institutional investors
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666,894
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(1,272,731)
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147,562
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Warrants to placement agent
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30,210
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(234,877)
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26,681
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October 16, 2013 financing:
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Warrants to institutional investors
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780,407
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(940,100)
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18,739
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Warrants to placement agent
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95,593
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(23,956)
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14,761
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January 21, 2014 financing:
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Warrants to institutional investors
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1,347,724
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2,212,227
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-
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November 12, 2015 financing:
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Warrants to institutional investors
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623,125
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-
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-
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Warrants to placement agent
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39,282
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-
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-
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Total:
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$
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3,986,727
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$
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(5,180,107)
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$
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(1,365,654)
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