Annual report pursuant to Section 13 and 15(d)

WARRANTS (Tables)

v3.20.1
WARRANTS (Tables)
12 Months Ended
Dec. 31, 2019
Warrants and Rights Note Disclosure [Abstract]  
Schedule of Warrant Activity
A roll-forward of warrant activity from January 1, 2018 to December 31, 2018 is shown in the following table:
 
 
Issued and
Outstanding
Warrants as of
January 1, 2018
 
Warrants
Exercised/
Expired
 
Issued and
Outstanding
Warrants as of
December 31, 2018
Bridge Warrants
 
249,999

 
(249,999
)
(1) 

Consulting Warrant
 
12,223

 
(5,556
)
(2) 
6,667

Financing Warrant
 
62,530

 

 
62,530

Underwriting Warrant
 
310,500

 

 
310,500

IR Consulting Warrant
 
6,000

 
(6,000
)
(3) 

Private Placement Warrants - 2016
 
891,063

 
(73,000
)
(4) 
818,063

Underwriting Warrants - Public Offering 2016
 
122,175

 

 
122,175

Private Placement Warrants - September 2017
 
1,976,919

 
(10,600
)
(5) 
1,966,319

Placement Agent Warrants - 2017
 
98,846

 

 
98,846

 
 
3,730,255

 
(345,155
)
 
3,385,100

(1)
During the year ended December 31, 2018, there were 249,999 warrants that were exchanged for 242,913 shares of common stock in an exchange transaction where the warrant holders exchanged the warrants for the same number of shares they would have been entitled to in a cashless exercise.
(2)
During the year ended December 31, 2018, there were 5,556 warrants that were exercised through a cashless exercise, which netted 5,542 shares being issued.
(3)
During the year ended December 31, 2018, 6,000 warrants expired.
(4)
During the year ended December 31, 2018, there were 73,000 warrants exercised for cash.
(5)
During the year ended December 31, 2018, there were 10,600 warrants exercised for cash.

A roll-forward of warrant activity from January 1, 2019 to December 31, 2019 is shown in the following table:
 
 
Exercise Price
 
Expiration Date
 
Issued and
Outstanding
Warrants as of
January 1, 2019
 
Warrants
Exercised/
Expired
 
Issued and
Outstanding
Warrants as of
December 31, 2019
Consulting Warrant
 
$0.01
 
6/17/2020
 
6,667

 

 
6,667

Financing Warrant
 
$3.35
 
6/17/2020
 
62,530

 

 
62,530

Underwriting Warrant
 
$7.50
 
5/28/2019
 
310,500

 
(310,500
)
(1) 

Private Placement Warrants - 2016
 
$2.86
 
4/25/2019
 
818,063

 
(818,063
)
(2) 

Underwriting Warrants - Public Offering 2016
 
$4.25
 
9/9/2019
 
122,175

 
(122,175
)
(3) 

Private Placement Warrants - September 2017
 
$4.85
 
9/28/2020
 
1,966,319

 

 
1,966,319

Placement Agent Warrants - 2017
 
$4.85
 
9/28/2020
 
98,846

 

 
98,846

 
 
 
 
 
 
3,385,100

 
(1,250,738
)
 
2,134,362

(1)
During the year ended December 31, 2019, 310,500 warrants expired.
(2)
During the year ended December 31, 2019, there were 485,000 warrants exercised for cash, including 335,000 warrants exercised by our significant shareholder, Park City Capital. Additionally, there were 44,928 warrants that were exercised through a cashless exercise which netted 1,809 shares being issued and 288,135 warrants that expired.
(3)
During the year ended December 31, 2019, 122,175 warrants expired.