Stock Purchase Warrants (Tables)

3 Months Ended

Mar. 31, 2018

Stock Purchase Warrants [Abstract]

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The assumptions used by the Company are summarized in the following table:

	Series A
	March 31, 2018			December 31, 2017			Issuance Date
Closing stock price	$	0.32		$	0.51		$	0.89
Expected dividends		0	%		0	%		0	%
Expected volatility		80	%		80	%		85	%
Risk free interest rate		2.35	%		1.97	%		1.58	%
Expected life of warrant (years)		2.6			2.9			4.0

The assumptions used by the Company are summarized in the following table:

 

	March 31, 2018			December 31, 2017			Issuance Date
Closing stock price	$	0.32		$	0.51		$	1.75
Expected dividends		0	%		0	%		0	%
Expected volatility		80	%		80	%		95	%
Risk free interest rate		2.19	%		1.86	%		1.39	%
Expected life of warrant (years)		1.55			1.79			5.00

The assumptions used by the Company are summarized in the following table:

	Issuance Date
Closing stock price	$	0.53
Expected dividends		0	%
Expected volatility		85	%
Risk free interest rate		2.42	%
Expected life of warrant (years)		4.92

Schedule Of Estimated Fair Value Of The Warrant Liability [Table Text Block]

The following table summarizes the estimated fair value of the warrant liability (in thousands):

Balance at December 31, 2017	$	4,083
Change in fair value of warrant liability		(2,655)
Balance at March 31, 2018	$	1,428

Schedule Of Warrant Activity [Table Text Block]

A summary of warrant activity for the Company for the three months ended March 31, 2018 is as follows:

	Number of Warrants		Weighted Average Exercise Price
Balance at December 31, 2017		32,029,809	$	1.50
Granted		25,000		0.52
Exercised		-		-
Forfeited		-		-
Balance at March 31, 2018		32,054,809	$	1.50

Schedule Of Warrant Outstanding and Exercisable [Table Text Block]

A summary of all outstanding and exercisable warrants as of March 31, 2018 is as follows:

Exercise Price		Warrants Outstanding		Warrants Exercisable		Weighted Average Remaining Contractual Life (years)
$	0.52		25,000		25,000		4.74
$	1.43		25,000,000		25,000,000		2.64
$	1.75		7,029,808		7,029,809		1.53
$	1.60		32,054,808		32,054,809		2.40