Warrants (Tables)
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6 Months Ended |
Jun. 30, 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, June 30
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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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June 30, 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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-
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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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2,540
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9,818
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Warrants to placement agent
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-
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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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27,520
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121,420
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Warrants to placement agent
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-
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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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39,742
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169,349
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Warrants to placement agent
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-
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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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13,762
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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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964,750
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2,169,375
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Warrants to placement agent
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54,975
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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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1,167,656
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-
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Warrants to placement agent
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70,033
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-
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Total:
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$
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2,340,978
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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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June 30, 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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June 30, 2016
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December 31, 2015
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Trading market prices
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$
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0.25
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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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0.20-1.36
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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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43-62
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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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0.01-0.63
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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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For the Three Months Ended June 30,
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For the Six Months Ended June 30,
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2016
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2015
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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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33
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202,963
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30
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305,040
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December 4, 2012 financing:
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Warrants to institutional investors
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5,911
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32,568
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7,278
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29,671
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Warrants to placement agent
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529
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5,434
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1,206
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5,577
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July 26, 2013 financing:
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Warrants to institutional investors
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63,246
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289,146
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93,900
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264,360
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Warrants to placement agent
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64
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15,209
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384
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19,554
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October 16, 2013 financing:
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Warrants to institutional investors
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103,166
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323,698
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129,607
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305,938
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Warrants to placement agent
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145
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48,918
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970
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64,097
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January 21, 2014 financing:
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Warrants to institutional investors
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92,428
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640,824
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117,714
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679,938
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November 12, 2015 financing:
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Warrants to institutional investors
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875,913
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|
-
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1,204,626
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|
-
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Warrants to placement agent
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58,276
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|
-
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80,160
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|
-
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March 2, 2016 financing:
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Warrants to institutional investors
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860,121
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|
-
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1,252,266
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-
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Warrants to placement agent
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58,258
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-
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85,904
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|
-
|
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Total:
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$
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2,118,090
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$
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1,558,760
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$
|
2,974,045
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$
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1,674,175
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