WARRANTS (Tables)

6 Months Ended

Jun. 30, 2016

Warrants and Rights Note Disclosure [Abstract]

A roll-forward of warrant share activity from January 1, 2015 to June 30, 2015 is shown in the following table:



	Issued and Outstanding Warrants as of January 1, 2015	Warrants Issued	Warrants Exercised/ Expired			Issued and Outstanding Warrants as of June 30, 2015
Bridge Warrants	249,999	—	—			249,999
Consulting Warrant	222,222	—	(104,444	)	(1)	117,778
Financing Warrant	208,763	—	(130,577	)	(1)	78,186
Underwriting Warrant	310,500	—	—			310,500
IR Consulting Warrant	48,000	—	—			48,000
	1,039,484	—	(235,021	)		804,463


(1)	During the six months ended June 30, 2015, there were 235,021 common stock warrants that were exercised through a cashless exercise which netted 208,184 shares being issued.

A roll-forward of warrant share activity from January 1, 2016 to June 30, 2016 is shown in the following table:



	Issued and Outstanding Warrants as of January 1, 2016	Warrants Issued	Warrants Exercised/ Expired			Issued and Outstanding Warrants as of June 30, 2016
Bridge Warrants	249,999	—	—			249,999
Consulting Warrant	117,778	—	(19,778	)	(1)	98,000
Financing Warrant	78,186	—	—			78,186
Underwriting Warrant	310,500	—	—			310,500
IR Consulting Warrants	48,000	—	—			48,000
Private Placement Warrants	—	2,096,724				2,096,724
	804,463	2,096,724	(19,778	)		2,881,409


(1)	During the six months ended June 30, 2016, there were 19,778 common stock warrants that were exercised through cashless exercises which netted 19,693 shares being issued.

- 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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