Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.7.0.1
Warrants
 3 Months Ended
Mar. 31, 2017
Warrants [Abstract]  
Warrants Disclosure [Text Block]
7. Warrants
 
At March 31, 2017, the following warrants were outstanding: 
 
 
 
 
 
Weighted
Weighted
 
 
 
 
 
Average
Average
 
 
 
Number of
 
Exercise
Remaining
 
 
 
Awards
 
Price
Term in Years
 
Outstanding at December 31, 2016
 
 
2,852,736
 
$
7.45
 
 
4.34
 
Outstanding at March 31, 2017
 
 
2,852,736
 
$
7.45
 
 
4.10
 
  
All of the warrant agreements provide for a cashless exercise, 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.