Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.7.0.1
Warrants (Tables)
6 Months Ended
Jun. 30, 2017
Warrants  
Summary of Warrant Activity

The following is a summary of activity in the number of warrants outstanding to purchase the Company’s common stock for the six months ended June 30, 2016 (in thousands):

 

    Warrants accounted for as: Equity     Warrants accounted for as:
Liabilities
 
    April 2013
warrants
    October 2013
Series A
warrants
    January 2014
warrants
    Total  
                         
Outstanding, December 31, 2016     1,500       775       4,000       6,275  
                                 
Warrants Expired     -       -       -       -  
Warrants exercised     -       -       -       -  
Outstanding, June 30, 2017     1,500       775       4,000       6,275  
Expiration date     April 25, 2018       October 24, 2023       January 16, 2024          

Schedule of Fair Value of the Warrants Classified as Liabilities

The fair value of the warrants classified as liabilities is estimated using the Black-Scholes option-pricing model with the following inputs as of June 30, 2017:

 

    October 2013
warrants
    January 2014
warrants
 
             
Strike price   $ 0.50     $ 0.50  
                 
Expected term (years)     6.3       6.6  
Cumulative volatility %     90 %     91 %
Risk-free rate %     2.10 %     2.11 %