Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v3.6.0.2
Warrants (Tables)
 12 Months Ended
Dec. 31, 2016
Warrants [Abstract]  
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

At December 31, 2016 and 2015, the following warrants were outstanding:
 
 
Number of
Awards
 
Weighted
Average
Exercise
Price
 
Weighted
Average
Remaining
Term in Years
Outstanding at December 31, 2014*
 
 
21,964
 
 
$
4.52
 
 
 
1.21
 
Issued
 
 
1,983,673
 
 
$
9.18
 
 
 
5.32
 
Exercised
 
 
(10,929
) 
 
$
0.65
 
 
 
  
 
Forfeited
 
 
(11,035
) 
 
$
8.35
 
 
 
 
Outstanding at December 31, 2015
 
 
1,983,673
 
 
$
9.18
 
 
 
5.32
 
Issued
 
 
871,000
(1) 
 
$
3.50
(2) 
 
 
4.49
 
Forfeited
 
 
(1,937
) 
 
$
9.18
 
 
 
4.82
 
Outstanding December 31, 2016
 
 
2,852,736
 
 
$
7.45
 
 
 
4.34
 
 
 
(1)
Consists of 1,742,000 warrants to purchase 837,500 shares of Common Stock issued to the investor, and 33,500 warrant shares issued to the Sales Agent, in connection with the Company’s registered direct offering on June 30, 2016.
(2)
Warrant exercise price for a full share of Common Stock. Each warrant issued is for the purchase of one-half of a share of Common Stock.
*
Does not include warrants convertible into common or preferred stock issued to holders of the Amended and Restated Notes of 2014 Notes.