Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.19.3
Warrants
 9 Months Ended
Sep. 30, 2019
Warrants  
Warrants

8. Warrants

The following is a summary of warrant activity for the nine months ended September 30, 2019 and 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average

 

Weighted Average

 

 

Number of

 

Exercise

 

Remaining

 

    

Warrants

    

Price

    

Term in Years

Outstanding at December 31, 2018

 

2,722,967

 

$

15.00

 

4.05

Exercised

 

(6,667)

 

 
4.80

 
3.55

Outstanding at September 30, 2019

 

2,716,300

 

 
15.05

 
3.30

 

 

  

 

 

  

 

  

Outstanding at December 31, 2017

 

630,415

 

 

48.90

 

4.23

Issued

 

2,343,777

 

 

4.80

 

4.55

Exercised

 

(227,875)

 

 

4.80

 

4.55

Outstanding at September 30, 2018

 

2,746,317

 

$

15.00

 

4.30

 

 

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.