Warrants (Tables)
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3 Months Ended |
Mar. 31, 2016 |
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| Warrants [Abstract] |
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| Summary Of Changes In Warrants Outstanding During The Period |
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2016
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2015
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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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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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Issued during the period
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12,500,000
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$
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0.42
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-
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$
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-
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Exercised during the period
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-
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$
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-
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-
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$
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-
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Expired during the period
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-
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$
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-
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-
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$
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-
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Balance, March 31
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38,991,904
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$
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0.68
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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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March 31, 2016
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December 31, 2015
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March 31, 2011 financing:
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Warrants to institutional investors
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$
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33
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$
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30
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December 4, 2012 financing:
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Warrants to institutional investors
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8,451
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9,818
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Warrants to placement agent
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529
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1,206
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July 26, 2013 financing:
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Warrants to institutional investors
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90,766
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121,420
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Warrants to placement agent
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64
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384
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October 16, 2013 financing:
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Warrants to institutional investors
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142,908
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169,349
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Warrants to placement agent
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145
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970
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January 21, 2014 financing:
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Warrants to institutional investors
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106,190
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131,476
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November 12, 2015 financing:
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Warrants to institutional investors
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1,840,663
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2,169,375
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Warrants to placement agent
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113,251
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135,135
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March 2, 2016 financing:
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Warrants to institutional investors
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2,027,777
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-
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Warrants to placement agent
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128,291
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-
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Total:
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$
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4,459,068
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$
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2,739,163
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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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March 31, 2016
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December 31, 2015
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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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174,300
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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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12,500,000
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Warrants to placement agent
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833,333
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833,333
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March 2, 2016 financing:
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Warrants to institutional investors
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11,718,750
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-
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Warrants to placement agent
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781,250
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-
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Total:
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38,991,904
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26,491,904
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| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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March 31, 2016
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December 31, 2015
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Trading market prices
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$
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0.33
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$
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0.36
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Estimated future volatility
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105
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%
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105
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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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0.23-1.70
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%
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0.82-2.38
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%
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Equivalent volatility
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51-66
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%
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44-65
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%
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Equivalent risk-free rate
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0.16-0.79
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%
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0.22-1.11
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%
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| Schedule Of Unrealized Gain/(Loss) On Fair Value Of Warrants |
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Three Months Ended March 31,
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2016
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2015
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March 31, 2011 financing:
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Warrants to institutional investors
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(3)
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102,077
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December 4, 2012 financing:
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Warrants to institutional investors
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1,368
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(2,897)
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Warrants to placement agent
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677
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143
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July 26, 2013 financing:
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Warrants to institutional investors
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30,654
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(24,786)
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Warrants to placement agent
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321
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4,345
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October 16, 2013 financing:
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Warrants to institutional investors
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26,440
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(17,760)
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Warrants to placement agent
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826
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15,179
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January 21, 2014 financing:
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Warrants to institutional investors
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25,286
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39,114
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November 12, 2015 financing:
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Warrants to institutional investors
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328,713
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-
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Warrants to placement agent
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21,882
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|
-
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March 2, 2016 financing:
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Warrants to institutional investors
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392,145
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-
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Warrants to placement agent
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27,646
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|
-
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Total:
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$
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855,955
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$
|
115,415
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