7. Warrants and stock options

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Warrants and stock options

Warrant and Option Exercises – During the nine months ended September 30, 2017, certain holders exercised warrants and options and received an aggregate of 201,000 shares of the Company’s common stock upon payment of an aggregate of $1,201,000 in cash. There were no warrants or options exercised during the three months ended September 30, 2017 and the three and nine months ended September 30, 2016. As of September 30, 2017, there were no warrants outstanding for which we account using fair value methodologies; accordingly, no fair value adjustments will be made in future periods relating to currently outstanding warrants.