Warrants (Tables)
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12 Months Ended |
Dec. 31, 2017 |
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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5,452,691
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$
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4.92
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2,649,199
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$
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7.97
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Issued during the period
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3,525,543
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$
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3.42
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3,194,000
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$
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3.47
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Exercised during the period
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(1,861,195)
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$
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3.51
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-
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$
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-
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Expired during the period
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(17,430)
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$
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4.72
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(390,508)
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$
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13.72
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Balance, December 31
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7,099,609
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$
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4.55
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5,452,691
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$
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4.92
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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, 2017
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December 31, 2016
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December 2012 Investor Warrants
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$
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-
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$
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49
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July 2013 Investor Warrants
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8,762
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2,060
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October 2013 Investor Warrants
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26,288
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3,708
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January 2014 Investor Warrants
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29,257
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714
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November 2015 Investor Warrants
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1,260,050
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260,500
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November 2015 Placement Agent Warrants
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2,936
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13,542
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March 2016 Investor Warrants
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697,554
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358,945
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March 2016 Placement Agent Warrants
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-
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21,320
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September 2016 Investor Warrants
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1,054,083
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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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June 2017 Investor Warrants
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1,981,864
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-
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June 2017 Placement Agent Warrants
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221,591
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-
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October 2017 Investor Warrants
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2,305,552
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-
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October 2017 Placement Agent Warrants
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265,698
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-
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Total:
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$
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7,853,635
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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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December 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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17,430
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July 2013 Investor Warrants
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200,000
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200,000
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October 2013 Investor Warrants
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231,732
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231,732
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January 2014 Investor Warrants
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476,193
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476,193
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November 2015 Investor Warrants
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1,250,001
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1,250,001
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November 2015 Placement Agent Warrants
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3,334
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83,335
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March 2016 Investor Warrants
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607,806
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1,171,875
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March 2016 Placement Agent Warrants
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-
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78,125
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September 2016 Investor Warrants
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805,000
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1,800,000
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September 2016 Placement Agent Warrants
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-
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144,000
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June 2017 Investor Warrants
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1,515,152
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-
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June 2017 Placement Agent Warrants
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181,818
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-
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October 2017 Investor Warrants
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1,632,654
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-
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October 2017 Placement Agent Warrants
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195,919
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-
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Total:
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7,099,609
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5,452,691
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Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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December 31, 2017
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December 31, 2016
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Trading market prices
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$
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2.02
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$
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1.40
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Estimated future volatility
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104
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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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2.14-2.45
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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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85-104
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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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1.30-1.89
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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 Year Ended December 31,
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2017
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2016
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2015
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Expired Warrants
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$
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-
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$
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2,590
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$
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458,439
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December 2012 Investor Warrants
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49
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9,769
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70,856
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July 2013 Investor Warrants
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(6,702)
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119,360
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666,894
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October 2013 Investor Warrants
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(22,580)
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165,641
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780,407
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January 2014 Investor Warrants
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(28,543)
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130,762
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1,347,724
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November 2015 Investor Warrants
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(999,550)
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1,908,875
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623,125
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November 2015 Placement Agent Warrants
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(365,748)
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121,593
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39,282
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March 2016 Investor Warrants
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(2,708,163)
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2,060,977
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-
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March 2016 Placement Agent Warrants
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(351,899)
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134,617
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-
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September 2016 Investor Warrants
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(4,571,872)
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816,480
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-
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September 2016 Placement Agent Warrants
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(503,150)
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59,243
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|
-
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June 2017 Investor Warrants
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1,691,304
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-
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-
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June 2017 Placement Agent Warrants
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212,729
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-
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-
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October 2017 Investor Warrants
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54,907
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-
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-
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October 2017 Placement Agent Warrants
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5,056
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-
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-
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Total:
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$
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(7,594,162)
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$
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5,529,907
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$
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3,986,727
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