NOTE 12 - WARRANTS

At March 31, 2017, the following warrants to purchase the Company’s common stock were outstanding and exercisable:

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45,000 warrants are exercisable at $0.37 per share and expire in February 2019 issued as partial payment for services. In October 2016, 45,000 warrants were exercised via a cashless exercise resulting in the issuance of 29,162 shares of common stock of the Company.

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306,902 warrants exercisable at $2.375 per share and which expire in June 2017 issued in connection with the Underwriting Agreement entered into with MDB Capital Group, LLC as part of underwriting compensation which provided for the sale of $12 million of common stock on June 19, 2012. In March 2014, 272,159 warrants were exercised via a cashless exercise resulting in the issuance of 53,048 shares of common stock of the Company.

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511,604 warrants exercisable at $2.65 per share and which expire in May 2017 issued in connection with Securities Purchase Agreements entered into with certain investors providing for the sale of a total of $2,465,000 of Zero Coupon Convertible Subordinated Notes on May 1, 2012.

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81,579 warrants were exercisable at $0.95 per share and expired in September 2016 issued as placement agent’s compensation in connection with the sale of $3.0 million of preferred stock on September 27, 2013 as described in Note 14.

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1,710,525 warrants were exercisable at $0.95 per share and expired in September 2016 issued in connection with Securities Purchase Agreements entered into with certain investors providing for the sale of a total of $3.0 million of preferred stock on September 27, 2013 described in Note 14. In March 2014, 1,447,369 warrants were exercised via a cashless exercise resulting in the issuance of 850,169 shares of common stock of the Company.

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224,375 warrants were exercisable at $5.20 per share and expired in September 2015 issued to certain purchasers of Company shares in March 2010.

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71,667 warrants were exercisable at $6.65 per share and expired in August 2015 issued to certain purchasers of Company shares in August 2009.

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15,000 warrants were exercisable at $2.10 per share and expired in July 2015 issued as partial payment for services.

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6,300 warrants were exercisable at $5.00 per share and expired in July 2015 issued as partial payment for services.

The table below summarizes warrant balances and activity for the nine months ended March 31, 2017 and the year ended June 30, 2016:

	Number of Warrants		Weighted Average Exercise Price Per Share
Balance at June 30, 2015		2,927,952	$	1.88
Warrants granted		45,000		0.37
Warrants expired		(317,342)		5.38
Balance at June 30, 2016		2,655,610		1.43
Warrants granted		-		-
Warrants exercised		(45,000)		0.37
Warrants expired		(1,792,104)		0.95
Balance at March 31, 2017		818,506	$	2.55