XML 54 R27.htm IDEA: XBRL DOCUMENT

Warrants (Tables)

12 Months Ended

Dec. 31, 2017


		Weighted
		average
	Warrants	exercise price
Outstanding at December 31, 2014	230,409	$	1.30
Issued	42,059		5.94
Outstanding at December 31, 2015	272,468		2.02
Issued	65,228		7.41
Outstanding at December 31, 2016	337,696		3.06
Issued	1,890,602		5.33
Exercised	(129,149)		1.30
Outstanding at December 31, 2017	2,099,149	$	5.21

Summary of equity instruments fair value inputs


Black-Scholes option valuation assumptions	2016
Risk-free interest rate	1.8	%
Dividend yield	—
Volatility	73	%
Weighted average contractual term	7 years

- 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.

+ References + Details