Warrants (Tables)
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3 Months Ended |
Mar. 31, 2017 |
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| Warrants [Abstract] |
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| Summary Of Changes In Warrants Outstanding During The Period |
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2017
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2016
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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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54,526,847
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$
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0.49
|
26,491,904
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$
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0.80
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Issued during the period
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-
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$
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-
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12,500,000
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$
|
0.42
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Exercised during the period
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(8,459,300)
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$
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0.34
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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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46,067,547
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$
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0.52
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38,991,904
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$
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0.68
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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, 2017
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December 31, 2016
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December 2012 Investor Warrants
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$
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42,770
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$
|
49
|
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July 2013 Investor Warrants
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551,440
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2,060
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October 2013 Investor Warrants
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680,918
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3,708
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January 2014 Investor Warrants
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1,082,524
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|
714
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November 2015 Investor Warrants
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4,380,250
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260,500
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November 2015 Placement Agent Warrants
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285,367
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13,542
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March 2016 Investor Warrants
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3,491,200
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358,945
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March 2016 Placement Agent Warrants
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290,352
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21,320
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September 2016 Investor Warrants
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5,429,010
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854,640
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September 2016 Placement Agent Warrants
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-
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57,888
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Total:
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$
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16,233,831
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$
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1,573,366
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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, 2017
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December 31, 2016
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December 2012 Investor Warrants
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174,300
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174,300
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July 2013 Investor Warrants
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2,000,000
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2,000,000
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October 2013 Investor Warrants
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2,317,309
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2,317,309
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January 2014 Investor Warrants
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4,761,905
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4,761,905
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November 2015 Investor Warrants
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12,500,000
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12,500,000
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November 2015 Placement Agent Warrants
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833,333
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833,333
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March 2016 Investor Warrants
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9,299,450
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11,718,750
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March 2016 Placement Agent Warrants
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781,250
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781,250
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September 2016 Investor Warrants
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13,400,000
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18,000,000
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September 2016 Placement Agent Warrants
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|
-
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1,440,000
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Total:
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46,067,547
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54,526,847
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| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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March 31, 2017
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December 31, 2016
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Trading market prices
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$
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0.51
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$
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0.14
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Estimated future volatility
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|
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105
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%
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|
104
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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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1.08-2.35
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%
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1.06-2.44
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%
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Equivalent volatility
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94-146
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%
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51-60
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%
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Equivalent risk-free rate
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0.78-1.33
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%
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0.59-1.25
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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 March 31,
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2017
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2016
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Expired Warrants
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$
|
-
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$
|
1,821
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December 2012 Investor Warrants
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(42,721)
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1,368
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July 2013 Investor Warrants
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(549,380)
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30,654
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October 2013 Investor Warrants
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(677,210)
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26,440
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January 2014 Investor Warrants
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(1,081,810)
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25,286
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November 2015 Investor Warrants
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(4,119,750)
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328,713
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November 2015 Placement Agent Warrants
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(271,825)
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21,882
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March 2016 Investor Warrants
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(3,932,511)
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392,145
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March 2016 Placement Agent Warrants
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(269,032)
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27,646
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September 2016 Investor Warrants
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(6,242,191)
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|
-
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September 2016 Placement Agent Warrants
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(503,150)
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|
-
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Total:
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$
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(17,689,580)
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$
|
855,955
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