Warrants (Tables)
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3 Months Ended |
Mar. 31, 2018 |
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| Warrants [Abstract] |
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| Summary Of Changes In Warrants Outstanding During The Period |
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2018
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2017
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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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7,099,609
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$
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4.55
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5,452,691
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$
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4.92
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Issued 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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Exercised during the period
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-
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$
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-
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(845,930)
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$
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3.36
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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, March 31
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7,099,609
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$
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4.55
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4,606,761
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$
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5.21
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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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March 31, 2018
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December 31, 2017
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July 2013 Investor Warrants
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$
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-
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$
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8,762
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October 2013 Investor Warrants
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6
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26,288
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January 2014 Investor Warrants
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20
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29,257
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November 2015 Investor Warrants
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619,096
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1,260,050
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November 2015 Placement Agent Warrants
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1,358
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2,936
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March 2016 Investor Warrants
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370,100
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697,554
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September 2016 Investor Warrants
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619,708
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1,054,083
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June 2017 Investor Warrants
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1,158,693
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1,981,864
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June 2017 Placement Agent Warrants
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124,282
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221,591
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October 2017 Investor Warrants
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1,433,206
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2,305,552
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October 2017 Placement Agent Warrants
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160,670
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265,698
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Total:
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$
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4,487,139
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$
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7,853,635
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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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March 31, 2018
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December 31, 2017
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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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3,334
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March 2016 Investor Warrants
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607,806
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607,806
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September 2016 Investor Warrants
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805,000
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805,000
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June 2017 Investor Warrants
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1,515,152
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1,515,152
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June 2017 Placement Agent Warrants
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181,818
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181,818
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October 2017 Investor Warrants
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1,632,654
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1,632,654
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October 2017 Placement Agent Warrants
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195,919
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195,919
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Total:
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7,099,609
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7,099,609
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| Schedule Of Assumptions Used In Calculating Fair Value Of Warrants |
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March 31, 2018
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December 31, 2017
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Trading market prices
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$
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1.51
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$
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2.02
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Estimated future volatility
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103
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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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2.56-2.73
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%
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2.14-2.45
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%
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Equivalent volatility
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37-91
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%
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85-104
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%
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Equivalent risk-free rate
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1.44-2.25
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%
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1.30-1.89
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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 March 31,
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2018
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2017
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Expired and Fully Exercised Warrants
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$
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-
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$
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(814,903)
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July 2013 Investor Warrants
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8,762
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(549,380)
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October 2013 Investor Warrants
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26,282
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(677,210)
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January 2014 Investor Warrants
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29,237
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(1,081,810)
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November 2015 Investor Warrants
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640,954
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(4,119,750)
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November 2015 Placement Agent Warrants
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1,578
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(271,825)
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March 2016 Investor Warrants
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327,454
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(3,932,511)
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September 2016 Investor Warrants
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434,375
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(6,242,191)
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June 2017 Investor Warrants
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823,171
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|
-
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June 2017 Placement Agent Warrants
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97,309
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|
-
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October 2017 Investor Warrants
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872,346
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|
-
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October 2017 Placement Agent Warrants
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105,028
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|
-
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Total:
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$
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3,366,496
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$
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(17,689,580)
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