Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2015

The warrants outstanding as of March 31, 2015, all of which are exercisable, were as follows:

Number of Common Shares Underlying Warrants As of March 31, 2015			Issue Date	Exercise Price		Expiration Date
	100,778	(1)	March 2007	$	3.97	March 2017
	500,000	(2)	April 2010	$	1.89	October 2015
	903,996	(2)	July 2010	$	1.63	January 2017
	371,423	(2)	June 2011	$	3.50	June 2016
	46,584	(1)	March 2012	$	1.61	March 2022
	1,922,781

⁽¹⁾

These warrants to purchase common stock are classified as equity.

⁽²⁾

Because of the presence of net settlement provisions, these warrants to purchase common stock are classified as derivative liabilities. The fair value of these liabilities (See Note 3 – Fair Value Measurements ) is remeasured at the end of every reporting period and the change in fair value is reported in the accompanying unaudited condensed consolidated statements of operations as other income (expense).

- 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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