Schedule of Warrants Outstanding |
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March
31, |
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December
31, |
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2017 |
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2016 |
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Issued
to Investors on July 28, 2010, entitling the holders to purchase 207,000 common shares in the Company at an exercise price
of $45.00 per common share up to and including July 27, 2017. At March 31, 2017 and December 31, 2016, the fair market value
of these warrants was not significant. |
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207,000 |
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207,000 |
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Issued
to Investors on October 25, 2013, entitling the holders to purchase 250,000 common shares in the Company at an exercise price
of $11.50 per common share up to and including April 24, 2021. In 2016, 59,450 of these warrants were exchanged for common
stock, and all remaining warrant holders agreed to new warrant terms in exchange for a reduced exercise price of $6.25 per
share. |
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163,986 |
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163,986 |
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Issued
to Investors on November 17, 2014, entitling the holders to purchase 546,919 common shares in the Company at an exercise price
of $11.55 per common share up to and including May 16, 2022. On June 30, 2016, the warrant holders agreed to new warrant terms
in exchange for a reduced exercise price of $6.25 per share. |
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546,919 |
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546,919 |
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Issued
to an Investor on June 28, 2016, entitling the holders to purchase 295,267 common shares in the Company at an exercise price
of $0.05 per common share (pre-funded) up to and including June 27, 2021. |
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295,267 |
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295,267 |
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Issued
to an investor on August 10, 2016, entitling the holders to purchase 500,000 common shares in the Company at an exercise price
of price of $0.01 per share, up to and including December 31, 2019. |
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500,000 |
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500,000 |
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1,713,172 |
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1,713,172 |
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Schedule of Share-based Compensation, Stock Options, Activity |
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Weighted |
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Weighted |
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Average |
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Average |
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Options |
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Exercise |
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Grant
Date |
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Outstanding |
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Price |
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Fair
Value |
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Beginning
of the period |
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2,172,581 |
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$ |
6.70 |
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$ |
4.83 |
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Granted
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---- |
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---- |
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---- |
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Exercised
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---- |
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---- |
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---- |
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Forfeited
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|
---- |
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|
---- |
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---- |
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Expired
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(334 |
) |
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49.50 |
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34.80 |
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End
of the period |
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2,172,247 |
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$ |
6.69 |
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$ |
4.83 |
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Options
exercisable |
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1,721,771 |
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$ |
7.03 |
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$ |
5.15 |
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Schedule of Non-Vested Shares, Activity |
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Weighted- |
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Average
Fair |
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Weighted |
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Value |
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Average |
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Shares |
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Grant
Date |
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Exercise
Price |
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Non-vested
Shares |
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Non-vested
- December 31, 2015 |
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359,001 |
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$ |
4.55 |
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$ |
6.70 |
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Granted
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1,210,467 |
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$ |
1.71 |
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$ |
3.02 |
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Vested
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(1,118,992 |
) |
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1.81 |
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3.19 |
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Forfeited
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- |
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- |
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- |
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Non-vested
December 31, 2016 |
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450,476 |
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$ |
3.60 |
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$ |
5.40 |
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Granted
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- |
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- |
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- |
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Vested
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- |
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- |
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- |
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Forfeited
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- |
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- |
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- |
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Non-vested
March 31, 2017 |
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450,476 |
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$ |
3.60 |
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$ |
5.40 |
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