5. Warrants
A summary of warrant activity for the year ended December 31,
2015 and the six months ended June 30, 2016 is as follows:
|
|
|
|
|
|
|
|
|
| |
|
Warrants |
|
|
Weighted
Average
Price |
|
|
Balance - December 31, 2014
|
|
|
2,532,094 |
|
|
$ |
1.93 |
|
|
Granted
|
|
|
— |
|
|
|
— |
|
|
Exercised
|
|
|
(185,585 |
) |
|
|
1.50 |
|
|
Expired
|
|
|
(2,170,925 |
) |
|
|
(2.00 |
) |
|
|
|
|
|
|
|
|
|
|
Balance - December 31, 2015
|
|
|
175,584 |
|
|
|
1.50 |
|
|
Granted
|
|
|
— |
|
|
|
— |
|
|
Exercised
|
|
|
— |
|
|
|
— |
|
|
Expired
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
Balance – June 30, 2016
|
|
|
175,584 |
|
|
$ |
1.50 |
|
|
|
|
|
|
|
|
|
|
The warrants outstanding as of June 30, 2016 are as
follows:
|
|
|
|
|
|
|
|
|
| Exercise Price |
|
Warrants Outstanding
|
|
|
Expiration Dates
|
|
|
$1.50
|
|
|
175,584 |
|
|
|
7/31/17 |
|
|
|
|
|
|
|
|
|
|
|
|
|
175,584 |
|
|
|
|
|
|
|
|
|
|
|
|