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Equity (Tables)

9 Months Ended

Sep. 30, 2016

Information about warrants outstanding during the nine months ended September 30, 2016 follows:

Original Number of Warrants Issued		Exercise Price per Common Share		Exercisable at December 31, 2015		Became Exercisable		Exercised		Terminated / Cancelled / Expired		Exercisable at September 30, 2016		Expiration Date
	25,000	$	7.00		25,000		—		—		—		25,000	April 2020
					25,000		—		—		—		25,000

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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