Warrants (Tables)
|
9 Months Ended |
Sep. 30, 2018 |
|---|
| Warrants [Abstract] |
|
| Summary Of Changes In Warrants Outstanding During The Period |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2018
|
2017
|
|
|
Number of warrants
|
Weighted average exercise price
|
Number of warrants
|
Weighted average exercise price
|
|
Balance, January 1
|
7,099,609
|
$
|
4.55
|
5,452,691
|
$
|
4.92
|
|
Issued during the period
|
-
|
$
|
-
|
1,696,970
|
$
|
4.01
|
|
Exercised during the period
|
-
|
$
|
-
|
(1,861,195)
|
$
|
3.51
|
|
Expired during the period
|
(200,000)
|
$
|
5.90
|
-
|
$
|
-
|
|
|
|
|
|
|
|
|
|
Balance, September 30
|
6,899,609
|
$
|
4.51
|
5,288,466
|
$
|
5.13
|
|
| Schedule Of Fair Value Of Warrants Issued |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fair Value as of:
|
|
Warrant Issuance:
|
|
September 30, 2018
|
December 31, 2017
|
|
July 2013 Investor Warrants
|
|
$
|
-
|
$
|
8,762
|
|
October 2013 Investor Warrants
|
|
|
-
|
|
26,288
|
|
January 2014 Investor Warrants
|
|
|
-
|
|
29,257
|
|
November 2015 Investor Warrants
|
|
|
399,278
|
|
1,260,050
|
|
November 2015 Placement Agent Warrants
|
|
|
591
|
|
2,936
|
|
March 2016 Investor Warrants
|
|
|
296,462
|
|
697,554
|
|
September 2016 Investor Warrants
|
|
|
592,513
|
|
1,054,083
|
|
June 2017 Investor Warrants
|
|
|
1,059,522
|
|
1,981,864
|
|
June 2017 Placement Agent Warrants
|
|
|
115,769
|
|
221,591
|
|
October 2017 Investor Warrants
|
|
|
1,476,646
|
|
2,305,552
|
|
October 2017 Placement Agent Warrants
|
|
|
160,723
|
|
265,698
|
|
Total:
|
|
$
|
4,101,504
|
$
|
7,853,635
|
|
| Summary Of Shares Indexed To The Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of Shares indexed as of:
|
|
Warrant Issuance
|
|
September 30, 2018
|
December 31, 2017
|
|
July 2013 Investor Warrants
|
|
-
|
200,000
|
|
October 2013 Investor Warrants
|
|
231,732
|
231,732
|
|
January 2014 Investor Warrants
|
|
476,193
|
476,193
|
|
November 2015 Investor Warrants
|
|
1,250,001
|
1,250,001
|
|
November 2015 Placement Agent Warrants
|
|
3,334
|
3,334
|
|
March 2016 Investor Warrants
|
|
607,806
|
607,806
|
|
September 2016 Investor Warrants
|
|
805,000
|
805,000
|
|
June 2017 Investor Warrants
|
|
1,515,152
|
1,515,152
|
|
June 2017 Placement Agent Warrants
|
|
181,818
|
181,818
|
|
October 2017 Investor Warrants
|
|
1,632,654
|
1,632,654
|
|
October 2017 Placement Agent Warrants
|
|
195,919
|
195,919
|
|
Total:
|
|
6,899,609
|
7,099,609
|
|
| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30, 2018
|
December 31, 2017
|
|
Trading market prices
|
|
$
|
1.78
|
|
$
|
2.02
|
|
|
Estimated future volatility
|
|
|
101
|
%
|
|
104
|
%
|
|
Dividend
|
|
|
-
|
|
|
-
|
|
|
Estimated future risk-free rate
|
|
|
3.02-3.04
|
%
|
|
2.14-2.45
|
%
|
|
Equivalent volatility
|
|
|
49-76
|
%
|
|
85-104
|
%
|
|
Equivalent risk-free rate
|
|
|
1.10-2.70
|
%
|
|
1.30-1.89
|
%
|
|
| Schedule Of Unrealized Gain/(Loss) On Fair Value Of Warrants |
|
|
|
|
|
|
|
|
|
|
|
|
|
For the Three Months Ended
September 30,
|
|
For the Nine Months Ended
September 30,
|
|
|
|
2018
|
|
2017
|
|
|
2018
|
|
2017
|
|
Expired and Fully Exercised Warrants
|
$
|
-
|
$
|
7,306
|
|
$
|
-
|
$
|
(855,010)
|
|
July 2013 Investor Warrants
|
|
-
|
|
125,686
|
|
|
8,762
|
|
(55,362)
|
|
October 2013 Investor Warrants
|
|
-
|
|
135,683
|
|
|
26,288
|
|
(102,608)
|
|
January 2014 Investor Warrants
|
|
-
|
|
177,900
|
|
|
29,257
|
|
(125,148)
|
|
November 2015 Investor Warrants
|
|
5,971
|
|
797,688
|
|
|
860,772
|
|
(1,304,350)
|
|
November 2015 Placement Agent Warrants
|
|
211
|
|
1,691
|
|
|
2,345
|
|
(366,694)
|
|
March 2016 Investor Warrants
|
|
(38,943)
|
|
356,472
|
|
|
401,092
|
|
(2,873,309)
|
|
September 2016 Investor Warrants
|
|
(109,915)
|
|
506,353
|
|
|
461,570
|
|
(4,807,246)
|
|
June 2017 Investor Warrants
|
|
(178,869)
|
|
894,076
|
|
|
922,342
|
|
1,277,485
|
|
June 2017 Placement Agent Warrants
|
|
(22,518)
|
|
117,645
|
|
|
105,822
|
|
164,411
|
|
October 2017 Investor Warrants
|
|
(331,671)
|
|
-
|
|
|
828,906
|
|
-
|
|
October 2017 Placement Agent Warrants
|
|
(34,331)
|
|
-
|
|
|
104,975
|
|
-
|
|
Total:
|
$
|
(710,065)
|
$
|
3,120,500
|
|
$
|
3,752,131
|
$
|
(9,047,831)
|
|