Warrants (Tables)
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6 Months Ended |
Jun. 30, 2017 |
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| Warrants [Abstract] |
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| Summary Of Changes In Warrants Outstanding During The Period |
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2017
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2016
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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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5,452,691
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$
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4.92
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2,649,199
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$
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7.97
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Issued during the period
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1,696,970
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$
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4.01
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1,250,000
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$
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4.20
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Exercised during the period
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(1,861,195)
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$
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3.51
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-
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$
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-
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Expired 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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-
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Balance, June 30
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5,288,466
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$
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5.13
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3,899,199
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$
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6.76
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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, 2017
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December 31, 2016
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December 2012 Investor Warrants
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$
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7,316
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$
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49
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July 2013 Investor Warrants
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183,108
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2,060
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October 2013 Investor Warrants
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241,999
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3,708
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January 2014 Investor Warrants
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303,762
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714
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November 2015 Investor Warrants
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2,362,538
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260,500
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November 2015 Placement Agent Warrants
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5,573
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13,542
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March 2016 Investor Warrants
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1,219,172
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358,945
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March 2016 Placement Agent Warrants
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-
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21,320
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September 2016 Investor Warrants
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1,795,810
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854,640
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September 2016 Placement Agent Warrants
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-
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57,888
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June 2017 Investor Warrants
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3,289,759
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-
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June 2017 Placement Agent Warrants
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387,554
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-
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Total:
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$
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9,796,591
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$
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1,573,366
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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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June 30, 2017
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December 31, 2016
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December 2012 Investor Warrants
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17,430
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17,430
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July 2013 Investor Warrants
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200,000
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200,000
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October 2013 Investor Warrants
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231,732
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231,732
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January 2014 Investor Warrants
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476,193
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476,193
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November 2015 Investor Warrants
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1,250,001
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1,250,001
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November 2015 Placement Agent Warrants
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3,334
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83,335
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March 2016 Investor Warrants
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607,806
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1,171,875
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March 2016 Placement Agent Warrants
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-
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78,125
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September 2016 Investor Warrants
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805,000
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1,800,000
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September 2016 Placement Agent Warrants
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-
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144,000
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June 2017 Investor Warrants
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1,515,152
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-
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June 2017 Placement Agent Warrants
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181,818
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-
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Total:
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5,288,466
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5,452,691
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| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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June 30, 2017
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December 31, 2016
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Trading market prices
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$
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2.86
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$
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1.40
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Estimated future volatility
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104
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%
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104
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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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1.23-2.31
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%
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1.06-2.44
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%
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Equivalent volatility
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106-129
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%
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51-60
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%
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Equivalent risk-free rate
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0.87-1.48
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%
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0.59-1.25
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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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2017
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2016
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2017
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2016
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Expired Warrants
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$
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-
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$
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771
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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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35,454
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5,911
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(7,267)
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7,278
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July 2013 Investor Warrants
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368,332
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63,246
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(181,048)
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93,900
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October 2013 Investor Warrants
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438,919
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103,166
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(238,291)
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129,607
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January 2014 Investor Warrants
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778,762
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92,428
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(303,048)
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117,714
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November 2015 Investor Warrants
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2,017,712
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875,913
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(2,102,038)
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1,204,626
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November 2015 Placement Agent Warrants
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(96,560)
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58,276
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(368,385)
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80,160
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March 2016 Investor Warrants
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702,730
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860,121
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(3,229,781)
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1,252,266
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March 2016 Placement Agent Warrants
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(82,867)
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58,258
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(351,899)
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85,904
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September 2016 Investor Warrants
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928,592
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-
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(5,313,599)
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-
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September 2016 Placement Agent Warrants
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-
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-
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(503,150)
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-
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June 2017 Investor Warrants
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383,409
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-
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383,409
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-
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June 2017 Placement Agent Warrants
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46,766
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-
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46,766
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-
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Total:
|
$
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5,521,249
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$
|
2,118,090
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$
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(12,168,331)
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$
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2,974,045
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