Annual report pursuant to Section 13 and 15(d)

Warrants

v3.10.0.1
Warrants
 12 Months Ended
Dec. 31, 2018
Warrants [Abstract]  
Warrants Disclosure [Text Block]
8. Warrants
 
At December 31, 2018 and 2017, the following warrants were outstanding: 
 
 
 
Number of
Awards
 
 
Weighted
Average
Exercise
Price
 
 
Weighted
Average
Remaining
Term in Years
 
 
 
 
 
 
 
 
 
 
 
Outstanding at December 31, 2016
 
 
2,852,736
 
 
$
7.45
 
 
 
4.26
 
Issued
 
 
6,666,667
1
 
 
1.50
3
 
 
4.45
 
Forfeited
 
 
(63,442
)
 
 
6.00
 
 
 
7.13
 
Outstanding at December 31, 2017
 
 
9,455,961
 
 
$
3.26
 
 
 
4.23
 
Issued
 
 
35,156,250
2
 
 
0.32
3
 
 
4.30
 
Exercised
 
 
(3,768,125
)
 
 
0.32
 
 
 
4.30
 
Outstanding at December 31, 2018
 
 
40,844,086
 
 
$
1.00
 
 
 
4.05
 
 
1
Consists of 6,666,667 warrants to purchase 6,666,667 shares of Common Stock issued in connection with the Company’s public offering on June 14, 2017.
2
Consists of 35,156,250 warrants to purchase 35,156,250 shares of Common Stock issued in connection with the Company’s public offering on April 17, 2018.
3
Warrant exercise price for a full share of Common Stock.
 
All of the warrant agreements provide for a cashless exercise in the event a registration statement covering the issuance of the shares of common stock underlying the warrants is not effective, whereby the number of warrants to be issued will be reduced by the number of shares which could be purchased from the proceeds of the exercise of the respective warrant. The outstanding warrants expire from 2020 through 2025.