Annual report pursuant to Section 13 and 15(d)

Capitalization and Equity Structure (Tables)

v3.8.0.1
Capitalization and Equity Structure (Tables)
 12 Months Ended
Dec. 31, 2017
Schedule of Warrant share activity
Warrant share activity for the year ended December 31, 2017 was as follows:
 
Source
 
Exercise
Price
 
Term
(Years)
 
December
31, 2016
 
Issued
 
Repurchased(1)
 
Expired
 
Exercised
 
December
31, 2017
 
Information Agent Warrants
 
$
1.50
 
3
 
 
-
 
 
200
 
 
-
 
 
-
 
 
-
 
 
200
 
April 2017 Warrants
 
$
4.10
 
5
 
 
-
 
 
1,866
 
 
(1,866)
 
 
-
 
 
-
 
 
-
 
2015 Warrants
 
$
3.74
 
5
 
 
1,634
 
 
-
 
 
-
 
 
-
 
 
(30)
 
 
1,604
 
2014 PPO and Merger warrants
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Placement agent warrants
 
$
7.00
 
5
 
 
426
 
 
-
 
 
-
 
 
-
 
 
-
 
 
426
 
Bridge warrants
 
$
7.00
 
3
 
 
371
 
 
-
 
 
-
 
 
(371)
 
 
-
 
 
-
 
PPO warrants
 
$
14.00
 
5
 
 
1,078
 
 
-
 
 
-
 
 
-
 
 
-
 
 
1,078
 
Pre 2014 warrants
 
$
9.66
 
9-10
 
 
88
 
 
-
 
 
-
 
 
-
 
 
-
 
 
88
 
 
 
 
 
 
 
 
 
3,597
 
 
2,066
 
 
(1,866)
 
 
(371)
 
 
(30)
 
 
3,396
 
 
(1)
The April 2017 Warrants were repurchased at a price of $1.23 per underlying share, as a result of the August 2017 Rights Offering.
Warrant [Member]  
Schedule of assumption used in valuation
The following assumptions were used in the Black-Scholes Option Pricing Model to measure the fair value of the 2015 Warrants as of December 31, 2017:
 
 
 
December 31, 2017
 
Current share price
 
$
2.13
 
Conversion price
 
$
3.74
 
Risk-free interest rate
 
 
1.98
%
Expected term (years)
 
 
2.99
 
Volatility of stock
 
 
95
%
 
The following assumptions were used in the Black-Scholes Option Pricing Model to measure the fair value of the 2015 Warrants as of December 31, 2016:
 
 
 
December 31, 2016
 
Current share price
 
$
3.98
 
Conversion price
 
$
3.74
 
Risk-free interest rate
 
 
1.70
%
Expected term (years)
 
 
3.98
 
Volatility of stock
 
 
70
%