Quarterly report pursuant to Section 13 or 15(d)

WARRANTS

v3.19.3
WARRANTS
 9 Months Ended
Sep. 30, 2019
WARRANTS  
NOTE 12. WARRANTS

The Company has the following shares of common stock reserved for exercise of the warrants outstanding as of September 30, 2019:

 

 

Shares

 

Weighted-Average

Exercise Price

 

Warrants outstanding as of January 1, 2019

 

1,115,038

 

$

4.16

 

Warrants exercised

 

-

 

-

 

Warrants granted

 

311,318

 

Warrants expired

 

(194,029

)

 

0.87

 

Warrants outstanding as of September 30, 2019

 

1,232,327

 

$

2.91

 

The following weighted-average assumptions were used to calculate the fair value of warrants issued during the period ended September 30, 2019 and 2018 using the Black-Scholes option pricing model:

 

 

September 30,

 

September 30,

 

2019

 

2018

 

Expected term (years)

 

5.9 Years

 

6.5 Years

 

Volatility

 

115.9

%

 

124.4

%

Risk-free interest rate

 

2.1

%

 

2.5

%

Dividend rate

 

0

%

 

0

%