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Common Stock and Warrants (Tables) | 3 Months Ended
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Mar. 31, 2018
Fair Value of Warrants Granted in Offering/Financing Estimated Using Black-Scholes Option Pricing Model with Weighted Average Assumptions | The fair value of warrants outstanding as of March 31, 2018 and 2017 were estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:
|  | March 31, 2018 |  |  | March 31, 2017 |
Stock price |  | $ | 10.11 |  |  | $ | 7.80 |
Exercise price |  | $ | 12.72 |  |  | $ | 8.10 |
Warrant term |  | 2.29 years |  |  | 1.65 years |
Expected volatility |  |  | 63.77 | % |  |  | 94.21 | %
Risk-free interest rate |  |  | 2.26 | % |  |  | 0.75 | %
Dividend rate |  |  | 0.00 | % |  |  | 0.00 | %
Fair Value of Compensation Options Granted During Offering Estimated Using Black-Scholes Option Pricing Model with Weighted Average Assumptions | The fair value of the compensation options granted during such offering was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:
Stock price |  | CAD $6.80 |
Exercise price |  | CAD $5.00 |
Option term |  | 2.0 years |
Expected volatility |  |  | 126.76 | %
Risk-free interest rate |  |  | 0.61 | %
Dividend rate |  |  | 0.00 | %
Summary of Warrants Accounts for Liabilities | The following table summarizes warrants that the Company accounts for as liabilities for the three months ended March 31, 2018 and 2017:
|  | Three Months Ended March 31, |
|  | 2018 |  |  | 2017 |
Fair value of warrants at beginning of period |  | $ | 6,941 |  |  | $ | 2,857 |
Exercise of warrants |  |  | (2,509 | ) |  |  | — |
Change in fair value of warrants during the period |  |  | (1,954 | ) |  |  | 354 |
Fair value of warrants at end of period |  | $ | 2,478 |  |  | $ | 3,211 |
Summary of Warrant Activity | The following is a summary of warrant activity during the three months ended March 31, 2018:
|  | Number of Warrants |  |  | Weighted Average Exercise Price |
|  | CAD |  |  | US |  |  | CAD$ |  |  | US$ |
Outstanding as of December 31, 2017 |  |  | 1,011,505 |  |  |  | 1,343,404 |  |  | $ | 7.38 |  |  | $ | 10.25 |
Granted |  |  | 206 |  |  |  | — |  |  |  | 7.50 |  |  |  | — |
Exercised |  |  | (618 | ) |  |  | (555,556 | ) |  |  | 5.83 |  |  |  | 6.75 |
Outstanding as of March 31, 2018 |  |  | 1,011,093 |  |  |  | 787,848 |  |  | $ | 7.38 |  |  | $ | 12.72 |
Warrants Outstanding and Exercisable | The warrants outstanding and exercisable as of March 31, 2018 were as follows:
Number of Warrants Outstanding |  |  | Exercise Price |  | Expiration Date
| 90,406 |  |  | US$15.00 |  | April 30, 2018
| 33,546 |  |  | US$15.00 |  | June 26, 2018
| 3,795 |  |  | US$10.75 |  | June 26, 2020
| 12,576 |  |  | US$15.00 |  | July 17, 2018
| 1,509 |  |  | US$10.75 |  | July 17, 2020
| 961,489 |  |  | CAD$7.50 |  | April 18, 2019
| 49,604 |  |  | CAD$5.00 |  | April 18, 2018
| 270,915 |  |  | US$12.25 |  | December 22, 2020
| 171,020 |  |  | US$12.25 |  | December 28, 2020
| 204,081 |  |  | US$12.25 |  | December 29, 2020
| 1,798,941 |  |  |  |  |
December 2017 Financing |
Fair Value of Warrants Granted in Offering/Financing Estimated Using Black-Scholes Option Pricing Model with Weighted Average Assumptions | The fair value of the warrants granted in the December 2017 financing were estimated using the Black-Scholes option pricing model with the following weighted average assumptions
|  | December 22, 2017 |  |  | December 28, 2017 |  |  | December 29, 2017 |
Stock price |  | $ | 10.60 |  |  | $ | 12.45 |  |  | $ | 12.32 |
Exercise price |  | $ | 12.25 |  |  | $ | 12.25 |  |  | $ | 12.25 |
Warrant term |  | 3.0 years |  |  | 3.0 years |  |  | 3.0 years |
Expected volatility |  |  | 60.24 | % |  |  | 60.24 | % |  |  | 60.24 | %
Risk-free interest rate |  |  | 2.01 | % |  |  | 2.00 | % |  |  | 1.98 | %
Dividend rate |  |  | 0.00 | % |  |  | 0.00 | % |  |  | 0.00 | %
Warrants Granted |
Fair Value of Warrants Granted in Offering/Financing Estimated Using Black-Scholes Option Pricing Model with Weighted Average Assumptions | The fair value of the warrants granted in such offering was estimated using the Black-Scholes option pricing model with the following weighted average assumptions:
Stock price |  | CAD $5.45 |
Exercise price |  | CAD $7.50 |
Warrant term |  | 3.0 years |
Expected volatility |  |  | 83.83 | %
Risk-free interest rate |  |  | 0.60 | %
Dividend rate |  |  | 0.00 | %

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=96867065&loc=d3e5047-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=68057994&loc=d3e25284-112666 + Details
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