Warrants (Tables)
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9 Months Ended |
Sep. 30, 2016 |
Warrants [Abstract] |
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Summary Of Changes In Warrants Outstanding During The Period |
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2016
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2015
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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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26,491,904
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$
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0.80
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13,205,871
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$
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1.07
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Issued during the period
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31,940,000
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$
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0.35
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-
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$
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-
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Exercised during the period
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-
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$
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-
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(47,300)
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$
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0.47
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Expired during the period
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(3,905,057)
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$
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1.37
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-
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$
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-
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Balance, September 30
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54,526,847
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$
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0.49
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13,158,571
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$
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1.07
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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, 2016
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December 31, 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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December 2012 Investor Warrants
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328
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9,818
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July 2013 Investor Warrants
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5,480
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121,420
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October 2013 Investor Warrants
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9,478
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169,349
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January 2014 Investor Warrants
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1,571
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131,476
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November 2015 Investor Warrants
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555,625
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2,169,375
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November 2015 Placement Agent Warrants
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30,292
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135,135
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March 2016 Investor Warrants
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742,031
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-
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March 2016 Placement Agent Warrants
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43,750
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-
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September 2016 Investor Warrants
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1,658,340
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-
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September 2016 Placement Agent Warrants
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114,696
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-
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Total:
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$
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3,161,591
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$
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2,739,163
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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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September 30, 2016
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December 31, 2015
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Expired Warrants
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-
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3,905,057
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December 2012 Investor Warrants
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174,300
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174,300
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July 2013 Investor Warrants
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2,000,000
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2,000,000
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October 2013 Investor Warrants
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2,317,309
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2,317,309
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January 2014 Investor Warrants
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4,761,905
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4,761,905
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November 2015 Investor Warrants
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12,500,000
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12,500,000
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November 2015 Placement Agent Warrants
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833,333
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833,333
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March 2016 Investor Warrants
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11,718,750
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-
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March 2016 Placement Agent Warrants
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781,250
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-
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September 2016 Investor Warrants
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18,000,000
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-
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September 2016 Placement Agent Warrants
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1,440,000
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-
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Total:
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54,526,847
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26,491,904
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Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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September 30, 2016
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December 31, 2015
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Trading market prices
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$
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0.21
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$
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0.36
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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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0.77 -1.46
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%
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0.82-2.38
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%
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Equivalent volatility
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41-59
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%
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44-65
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%
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Equivalent risk-free rate
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0.42 -0.80
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%
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0.22-1.11
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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 September 30,
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For the Nine Months Ended September 30,
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2016
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2015
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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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(9,903)
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$
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2,590
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$
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384,365
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December 2012 Investor Warrants
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2,212
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16,350
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9,490
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46,021
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July 2013 Investor Warrants
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22,040
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147,848
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115,940
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412,208
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October 2013 Investor Warrants
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30,264
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166,744
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159,871
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472,682
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January 2014 Investor Warrants
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12,190
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287,262
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129,905
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967,200
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November 2015 Investor Warrants
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409,125
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-
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1,613,750
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-
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November 2015 Placement Agent Warrants
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24,683
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-
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104,842
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-
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March 2016 Investor Warrants
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425,625
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|
-
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1,677,891
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-
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March 2016 Placement Agent Warrants
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26,283
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|
-
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112,188
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-
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September 2016 Investor Warrants
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12,780
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-
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12,780
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-
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September 2016 Placement Agent Warrants
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2,435
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-
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2,435
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-
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Total:
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$
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967,637
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$
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608,301
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$
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3,941,682
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$
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2,282,476
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