Quarterly report pursuant to Section 13 or 15(d)

Warrants

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Warrants
6 Months Ended
Jun. 30, 2015
Text Block [Abstract]  
Warrants

5. Warrants

A summary of warrant activity for the year ended December 31, 2014 and the six months ended June 30, 2015 is as follows:

 

     Warrants      Weighted
Average
Price
 

Balance - December 31, 2013

     2,747,094       $ 1.91   

Granted

     —          —    

Exercised

     (210,000      1.50   

Expired

     (5,000      (10.00
  

 

 

    

 

 

 

Balance - December 31, 2014

     2,532,094         1.93   

Granted

     —          —    

Exercised

     —          —    

Expired

     (2,170,925      (2.00
  

 

 

    

 

 

 

Balance – June 30, 2015

     361,169       $ 1.50   
  

 

 

    

 

 

 

On March 23, 2015, warrants to acquire 2,170,925 shares of the Company’s common stock at a price of $2.00 per share expired.

The warrants outstanding as of June 30, 2015 are as follows:

 

Exercise Price    Warrants Outstanding      Expiration Dates  

$1.50

     361,169         7/31/17   
  

 

 

    
     361,169