8. Warrants

 

At March 31, 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			1.81
Issued			630,733		$	6.08			6.55
Exercised			(10,929)		$	0.65
Forfeited			(3,788)		$	14.45
Outstanding at March 31, 2015			637,980		$	6.07			5.03

 

 

Warrants		Remaining Term			Exercise Price
7,247		.50		$	5.16
630,733		6.55		$	6.08

 

All of the warrant agreements contain a provision providing for a cashless exercise whereby, the number of warrants to be issued will be reduced by the number shares which could be purchased from the proceeds of the exercise of the respective warrant. The remaining warrants expire from 2015 through 2025.