Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity (Tables)

v3.3.1.900
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2015
Stockholders Equity Tables  
Schedule of Warrants Activity

A summary of the warrant activity during the years ended December 31, 2015 and 2014 is presented below:

 

      Number of
Warrants 		    Weighted
Average Exercise
Price 		    Weighted
Average
Remaining Life 		 
                     
Outstanding December 31, 2014       8,715,804     $ 5.49       3.0  
Granted       840,500       2.55          
Exercised       -       -          
Forfeited       (50,000 )     6.25          
Outstanding December 31, 2015       9,506,304     $ 4.93       2.0  
                           
Exercisable December 31, 2015       9,506,304     $ 4.93       2.0  

Schedule of Warrants Outstanding

The following table presents information related to stock warrants as of December 31, 2015:

 

Exercise Price     Outstanding
Number of
Warrants 		    Weighted
Average
Remaining Life
in Years 		    Exerciseable
Number of
Warrants 		 
                     
>$5.00       7,439,631       1.9       7,439,631  
$4.00-$4.99       -       -       -  
$3.00-$3.99       799,901       2.6       799,901  
$2.00-$2.99       954,272       3.6       954,272  
$1.00-$1.99       312,500       4.0       312,500  
        9,506,304               9,506,304  

Schedule of Warrant Amortization

Amortization of debt discounts arising from warrants and convertible debt are summarized as follows at December 31, 2015 and 2014 and for the years then ended:

 

    Years Ended  
    December 31, 2015     December 31, 2014  
             
Interest expense   $ 2,379,951     $ 336,798  
Consulting expense     22,375       771,095  
    $ 2,402,326     $ 1,107,893