Quarterly report pursuant to Section 13 or 15(d)

WARRANTS

v3.19.1
WARRANTS
 3 Months Ended
Mar. 31, 2019
Notes to Financial Statements  
NOTE 15. WARRANTS

The Company has the following shares of common stock reserved for exercise of the warrants outstanding as of March 31, 2019:

 

    Shares     Weighted-Average Exercise Price  
             
Warrants Outstanding as of January 1, 2019     1,053,252     $ 4.28  
Warrants Exercised     -       -  
Warrants Granted     131,460       1.14  
Warrants Expired     (132,097 )     1.35  
Warrants Outstanding as of March 31, 2019     1,052,615     $ 3.28  

   

The following weighted-average assumptions were used to calculate the fair value of warrants issued during the period ended March 31, 2019 and 2018 using the Black-Scholes option pricing model:

 

    March 31,         March 31,  
    2019         2018  
Stock Price on Date of Grant   $ 1.32         $ 3.75  
Exercise Price   $ 1.41         $ 4.05  
Volatility     111.80 %         120.71 %
Term     5.00 Yrs         5.00 Yrs
Risk-Free Interest Rate     2.40 %         2.49 %
Expected Dividend Rate     0 %         0 %

 

There were no warrants recognized as an expense for the three month periods ended March 31, 2019 and 2018, respectively.