Quarterly report pursuant to Section 13 or 15(d)

Warrants

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Warrants
3 Months Ended
Mar. 31, 2016
Text Block [Abstract]  
Warrants

5. Warrants

A summary of warrant activity for the year ended December 31, 2015 and the three months ended March 31, 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 – March 31, 2016

     175,584       $ 1.50   
  

 

 

    

 

 

 

 

The warrants outstanding as of March 31, 2016 are as follows:

 

Exercise Price    Warrants Outstanding    Expiration Dates

$1.50

   175,584    7/31/17
  

 

  
   175,584