Warrants (Tables)
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6 Months Ended |
Jun. 30, 2019 |
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| Warrants [Abstract] |
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| Summary Of Warrants Outstanding |
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Number of Warrants:
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Warrant Issuance
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June 30, 2019
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December 31, 2018
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Exercise Price
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Expiration Date
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Liability-classified Warrants
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January 2014 Investors
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-
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39,683
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$
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153.60
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Jan. 2019
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November 2015 Investors
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104,168
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104,168
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$
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63.60
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May 2021
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November 2015 Placement Agent
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279
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279
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$
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63.60
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Nov. 2020
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March 2016 Investors
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50,651
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50,651
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$
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50.40
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Sept. 2021
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September 2016 Investors
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67,084
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67,084
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$
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36.00
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Mar. 2022
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June 2017 Investors
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126,264
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126,264
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$
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48.00
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Dec. 2022
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June 2017 Placement Agent
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15,153
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15,153
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$
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49.50
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Jun. 2022
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October 2017 Investors
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136,058
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136,058
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$
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34.20
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Apr. 2023
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October 2017 Placement Agent
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16,327
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16,327
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$
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36.72
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Oct. 2022
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Total liability classified warrants
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515,984
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555,667
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Equity-classified Warrants
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October 2018 Investors
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480,771
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480,771
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$
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20.04
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Apr. 2024
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October 2018 Placement Agent
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28,848
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28,848
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$
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19.50
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Oct. 2023
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January 2019 Investors
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895,886
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-
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$
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9.60
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Jan. 2024
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Total equity-classified warrants
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1,405,505
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509,619
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Total outstanding warrants
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1,921,489
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1,065,286
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| Summary Of Changes In Warrants Outstanding During The Period |
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Number of Warrants
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Liability-classified
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Equity- classified
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Total
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Weighted average exercise price
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Balance, January 1, 2019
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555,667
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509,619
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1,065,286
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$
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37.52
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Issued during the period
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-
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895,886
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895,886
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$
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9.60
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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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Expired during the period
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(39,683)
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-
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(39,683)
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$
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153.60
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Balance, June 30, 2019
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515,984
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1,405,505
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1,921,489
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$
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22.10
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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, 2019
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December 31, 2018
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November 2015 Investors
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$
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10,765
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$
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234,918
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November 2015 Placement Agent
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-
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435
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March 2016 Investor
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12,426
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160,099
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September 2016 Investors
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43,752
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333,834
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June 2017 Investors
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105,374
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623,324
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June 2017 Placement Agent
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8,685
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65,149
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October 2017 Investors
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169,925
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801,551
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October 2017 Placement Agent
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15,805
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88,276
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Total:
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$
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366,732
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$
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2,307,586
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| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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June 30, 2019
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December 31, 2018
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Trading market prices
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$
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5.16
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$
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11.16
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Estimated future volatility
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102
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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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1.59-1.76
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%
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2.35-2.53
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%
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Equivalent volatility
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84-87
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%
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99-104
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%
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Equivalent risk-free rate
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1.86-1.98
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%
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2.51-2.55
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%
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Fundamental transaction likelihood, at end of warrant term
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5
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%
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5
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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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2019
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2018
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2019
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2018
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Expired Warrants
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$
|
-
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$
|
26
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$
|
-
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$
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64,307
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November 2015 Investors
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27,069
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213,847
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224,153
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854,801
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November 2015 Placement Agent
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55
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556
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435
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2,134
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March 2016 Investors
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32,874
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112,581
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147,673
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440,035
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September 2016 Investors
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72,213
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137,110
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290,082
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571,485
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June 2017 Investors
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129,559
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278,040
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517,950
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1,101,211
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June 2017 Placement Agent
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14,553
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31,031
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56,464
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128,340
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October 2017 Investors
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135,125
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288,231
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631,626
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1,160,577
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October 2017 Placement Agent
|
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16,035
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34,278
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72,471
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139,306
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Total:
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$
|
427,483
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$
|
1,095,700
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$
|
1,940,854
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$
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4,462,196
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