Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

v3.7.0.1
STOCKHOLDERS' EQUITY (Tables)
6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Schedule of warrant activity

 

The following table summarizes the 2017 liability warrant activity: 

 

    Shares     Weighted Average Exercise Price  
Outstanding as of December 31, 2016                
Warrants granted     5,863,332     $ 0.9375  
Warrants exercised     (2,991,666 )     0.26  
Warrants cancelled                
Outstanding as of June 30, 2017     2,871,666     $ 0.26

Schedule of inputs used in valuation of warrants

Inputs used in the valuation of the warrants at the issuance date of April 3, 2017 and June 30, 2017 were as follows:

 

Initial valuation      
Common stock price   $ 0.75  
Exercise price   $ 0.9375  
Expected Volatility     50 %
Dividend Yield     0 %
Risk-Free Interest Rate     0.79% - 1.88 %
Expected Term (years)     0.24 - 5  
         
June 30, 2017 valuation        
Common stock price   $ 0.50  
Exercise price   $ 0.26  
Expected Volatility     50 %
Dividend Yield     0 %
Risk-Free Interest Rate     0.79% - 1.88 %
Expected Term (years)     0.08-4.76  
Schedule of warrants

As of June 30, 2017, warrants to purchase 3,273,894 shares of common stock were outstanding including: 

 

    Outstanding
Warrants to
Purchase
Shares
    Exercise Price     Expiration Date
                 
2011 private placement     283,470     $ 18.75 - 24.00     May 8, 2018
Acueity warrants     21,667       75.00     September 30, 2017
2014 public offering     77,790       45.00     January 29, 2019
Placement agent fees for Company’s offerings     16,135       31.80 - 186.45     March - November, 2018
Outside consulting     3,166       63.60     January 14, 2018
2017 public offering     2,871,666       0.26     April 3, 2022
      3,273,894