Note 9 - Warrants to Purchase Common Stock

12 Months Ended

Dec. 31, 2015

Note 9 - Warrants To Purchase Common Stock

Note 9 - Warrants to Purchase Common Stock

Note 9 – Warrants to Purchase Common Stock

Subsequent to the restructuring of the Company and the spin-out, the Company had warrants to purchase common stock outstanding that were not terminated and have continued as part of the operations as detailed below. The warrants were adjusted for a 1 for 101 stock split due to the spin-out and restructuring plan as authorized.

During the twelve months ended December 31, 2015, the Company issued, in connection with the restructuring of debentures and private placement offerings for the sale of common stock, warrants to purchase 5,233 shares of the Company’s common stock at exercise prices ranging of $15.15 to $90.90 per share. All warrants outstanding as of December 31, 2015 are scheduled to expire at various dates through 2019. A summary of warrants issued, exercised and expired are as follows:

	Shares			Weighted- Average Exercise Price ($)		Weighted-Average Remaining Contractual Term
Outstanding at December 31, 2013		103,823		$	101		1.36
Granted		70,753			29.29		4.41
Expired		(3,207	)		303		—
Outstanding at December 31, 2014		171,369		$	70.70		2.04
Granted		5,233			16.36		2.67
Expired		(98,140	)		100.81		—
Outstanding at December 31, 2015		78,462		$	29.55		3.43
Exercisable at December 31, 2015		78,462		$	29.55		3.43