Warrants (Tables)
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9 Months Ended |
Sep. 30, 2020 |
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, 2020
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December 31, 2019
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Exercise Price
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Expiration Date
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Liability-classified Warrants
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November 2015 Investors
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-
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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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4,584
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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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82,072
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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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108,846
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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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277,912
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515,984
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Equity-classified Warrants
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October 2018 Investors
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160,257
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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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458,715
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895,886
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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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647,820
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1,405,505
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Total outstanding warrants
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925,732
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1,921,489
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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, 2020
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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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Exchanged during the period
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(238,072)
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(757,685)
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(995,757)
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$
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(22.64)
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Balances, September 30, 2020
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277,912
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647,820
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925,732
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$
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21.52
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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, 2020
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December 31, 2019
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November 2015 Investors
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$
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-
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$
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55
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November 2015 Placement Agent
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-
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-
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March 2016 Investor
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3,026
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439
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September 2016 Investors
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1,093
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3,196
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June 2017 Investors
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32,218
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11,736
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June 2017 Placement Agent
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3,573
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845
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October 2017 Investors
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64,196
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23,772
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October 2017 Placement Agent
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6,675
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1,674
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Total:
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$
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110,781
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$
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41,717
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Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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September 30, 2020
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December 31, 2019
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Trading market prices
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$
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2.08
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$
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1.91
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Fundamental transaction volatility
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134
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%
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102
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%
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Dividend
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-
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-
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Fundamental transaction risk-free rate
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0.17-0.21
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%
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1.57-1.72
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%
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Equivalent volatility
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77-89
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%
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85-94
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%
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Equivalent risk-free rate
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0.10-0.12
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%
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1.57-1.59
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%
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Fundamental transaction likelihood
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90
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%
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50
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%
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Fundamental transaction timing
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November 2020
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April 2020
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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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2020
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2019
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2020
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2019
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November 2015 Investors
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$
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2,262
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$
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9,560
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$
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(969)
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$
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233,713
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November 2015 Placement Agent
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-
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-
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-
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435
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March 2016 Investors
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3,336
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6,286
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(2,587)
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153,959
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September 2016 Investors
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8,246
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28,382
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(17,323)
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318,464
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June 2017 Investors
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29,330
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69,660
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(42,397)
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587,610
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June 2017 Placement Agent
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2,775
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5,804
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(2,728)
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62,268
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October 2017 Investors
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50,075
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112,729
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(55,452)
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744,355
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October 2017 Placement Agent
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4,613
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10,439
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(5,001)
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82,910
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Total:
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$
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100,637
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$
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242,860
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$
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(126,457)
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$
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2,183,714
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