WARRANTS - Note 10

12 Months Ended

Dec. 31, 2018

Contract with Customer, Liability, Current, Change

Warrants - Note 10

10. WARRANTS

During the second quarter of 2017, we received $906,000 from the exercise of warrants to purchase 460,000 shares of common stock, which warrants were issued in connection with earlier financing transactions.

The outstanding warrants to purchase 2.0 million shares of our common stock that we sold in our March 2014 offering have an exercise price of $2.47 per share and expire in March 2019.

The following table summarizes activity with respect to our common stock warrants for the periods shown below (in thousands):

	Warrants to		Weighted-
	purchase		average
	common		exercise
	shares		price
Outstanding at December 31, 2016	3,761	$	2.23
Granted:
Exercise price less than intrinsic value	-		-
Exercise price greater than intrinsic value	-		-
Exercised	(460)		1.97
Canceled/expired	(1,328)		1.97
Outstanding at December 31, 2017	1,973		2.47
Granted:
Exercise price less than intrinsic value	-		-
Exercise price greater than intrinsic value	-		-
Exercised	-		-
Canceled/expired	-		-
Outstanding at December 31, 2018	1,973	$	2.47
Exercisable at December 31, 2018	1,973	$	2.47

There were no common stock warrants issued in 2018 and 2017.

The following table summarizes information about our common stock warrants outstanding and exercisable at December 31, 2018 (in thousands):

	Warrants outstanding				Warrants exercisable
		Weighted-
		average		Weighted-			Weighted-
	Outstanding at	remaining		average	Exercisable at		average
	December 31,	contractual term		exercise	December 31,		exercise
Exercise price	2018	(in years)		price	2018		price
$2.47	1,973	0.21	$	2.47	1,973	$	2.47
	1,973				1,973