Warrants (Tables)
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9 Months Ended |
Sep. 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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September 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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June 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, September 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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September 30, 2019
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December 31, 2018
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November 2015 Investors
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$
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1,205
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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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6,140
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160,099
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September 2016 Investors
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15,370
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333,834
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June 2017 Investors
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35,714
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623,324
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June 2017 Placement Agent
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2,881
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65,149
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October 2017 Investors
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57,196
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801,551
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October 2017 Placement Agent
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5,366
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88,276
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Total:
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$
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123,872
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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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September 30, 2019
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December 31, 2018
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Trading market prices
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$
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2.05
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$
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11.16
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Estimated future volatility
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104
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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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1.42-1.57
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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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98-117
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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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1.70-1.80
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%
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2.51-2.55
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%
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Fundamental transaction likelihood
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50
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%
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5
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%
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Fundamental transaction timing
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March 2020
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End of warrant term
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| Schedule Of Unrealized Gain/(Loss) On Fair Value Of Warrants |
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For the Three Months Ended September 30,
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For the Nine Months Ended
September 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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-
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$
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-
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$
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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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9,560
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5,971
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233,713
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860,772
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November 2015 Placement Agent
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-
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211
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|
435
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2,345
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March 2016 Investors
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6,286
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(38,943)
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153,959
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401,092
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September 2016 Investors
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28,382
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(109,915)
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318,464
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461,570
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June 2017 Investors
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69,660
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(178,869)
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587,610
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922,342
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June 2017 Placement Agent
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5,804
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(22,518)
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62,268
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105,822
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October 2017 Investors
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112,729
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(331,671)
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744,355
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828,906
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October 2017 Placement Agent
|
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10,439
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(34,331)
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82,910
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104,975
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Total:
|
$
|
242,860
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$
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(710,065)
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$
|
2,183,714
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$
|
3,752,131
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