Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.4.0.3
Warrants
3 Months Ended
Mar. 31, 2016
Equity [Abstract]  
Warrants
Warrants

We have issued certain warrants which contain an exercise price adjustment feature in the event we issue additional equity instruments at a price lower than the exercise price of the warrant. The warrants are described herein as derivative warrants. As of March 31, 2016 all derivative warrants have either expired or have been exercised.

The following table summarizes the warrant activity for the three months ended March 31, 2016 (in thousands, except exercise price): 
Issued With / For
Exercise
Price
 
Warrants
Outstanding
January 1,
2016
 
2016 Warrants Expired
 
Warrants Outstanding March 31, 2016
Non-Derivative Warrants:
 
 
 
 
 
 
 
Financing
$
10.00

  
243

 

 
243

Financing
15.00

  
436

 

 
436

Debt guarantee
15.00

  
233

 

 
233

Consulting
10.00

 
10

 
(10
)
 

2015 Offering
5.00

  
3,450

 

 
3,450

Total non-derivative warrants
$
6.81

B
4,372

 
(10
)
 
4,362

Derivative Warrants:
 
 
 
 
 
 
 
Financing
4.00

A
60

 
(60
)
 

Total derivative warrants

B
60

 
(60
)
 

Total
$
6.81

B
4,432

 
(70
)
 
4,362


A
These warrants were subject to fair value accounting and contained an exercise price adjustment feature.
B
Weighted-average exercise prices are as of March 31, 2016.