| Schedule of warrants outstanding at various exercise prices |
The warrants had various exercise prices and terms as follows: | | | Warrants | | Exercise | | Expiration | | | Summary of Warrants | | Outstanding | | Price | | Date | | | 2015 Financing 7/31/15 (a) | | | 20,000 | | $ | 6.05 | | | 07/31/20 | | | 2015 Financing 5/11/15 agent warrants (b) | | | 50,000 | | | 11.00 | | | 5/11/20 | | | 2014 Financing 12/24/14 (c) | | | 2,395,949 | | | 5.00 | | | 12/24/19 | | | 2014 Financing 12/24/14 agent warrants (c) | | | 68,735 | | | 5.00 | | | 12/18/19 | | | 2012 Series B private placement (d) | | | 400,001 | | | 25.00 | | | 10/24/18 | | | Total | | | 2,934,685 | | | | | | | | | a) | In connection with the offering on July 31, 2015, the placement agent received warrants to purchase 20,000 share of common stock at $6.05 per share. The warrants are exercisable and expire on July 31, 2020. | | b) | In connection with the offering on May 11, 2015, the placement agent received warrants to purchase 50,000 share of common stock at $11.00 per share. The warrants are exercisable and expire on May 11, 2020. | | c) | In connection with an offering on December 24, 2014, warrants to purchase 3,500,000 shares of common stock at $5.00 per share were purchased and issued for $0.01 per warrant. All of the warrants are exercisable and expire on December 24, 2019. At December 31, 2017, 2,395,949 warrants are outstanding. | Also in connection with the offering on December 24, 2014, the underwriter received warrants to purchase 68,735 shares of common stock at $5.00 per share. The warrants are exercisable and expire on December 18, 2019. | d) | In connection with a private placement offering on October 25, 2012, warrants to purchase 400,001 shares of common stock at $25.00 per share were issued. All of the warrants are exercisable and expire on October 24, 2018. |
|