Quarterly report pursuant to Section 13 or 15(d)

Warrants (Tables)

v3.8.0.1
Warrants (Tables)
3 Months Ended
Mar. 31, 2018
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 three months ended March 31, 2018 and 2017 (in thousands):

 

    Warrants accounted for as:     Warrants accounted for as:  
    Equity     Liabilities  
          April 2013 warrants                 October 2013 Series A warrants     January 2014 warrants     Total  
                                           
Outstanding, December 31, 2017             50                       26       133       209  
                                                         
Warrants expired             -                       -       -       -  
Warrants exercised             -                       -       -       -  
Outstanding, March 31, 2018             50                       26       133       209  
Expiration date             April 25, 2018                       October 24, 2023      

January 16,

2024

       

Schedule of Fair Value of 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 March 31, 2018:

 

    October 2013
warrants
    January 2014
warrants
 
             
Strike price   $ 15.00     $ 15.00  
Expected term (years)     5.57       5.80  
Cumulative volatility %     86.73 %     87.08 %
Risk-free rate %     2.59 %     2.61 %