Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

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STOCKHOLDERS' EQUITY (Tables)
9 Months Ended
Sep. 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     (5,863,332 )     0.26  
Warrants cancelled                
Outstanding as of September 30, 2017           $    
Schedule of valuation of the warrants

All remaining warrants were exercised during the quarter and no warrants issued in the April 2017 financing remain outstanding at September 30, 2017.

  

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 September 30, 2017, warrants to purchase 380,561 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
                     
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
                     
      380,561