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8. Outstanding Warrants | 12 Months Ended
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Dec. 31, 2017
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Outstanding Warrants | During the years ended December 31, 2017 and 2016, the Company granted 227 thousand common stock warrants, for the extension of certain Notes for each period, respectively. The accredited investors received 2-year warrants exercisable at $0.01 per share as part of note agreements. The weighted average fair value calculations for warrants granted are based on the following weighted average assumptions:
Description |  | For the year ended December 31 |
|  | 2017 |  |  | 2016 |
Dividend-yield |  |  | 0 | % |  |  | 0 | %
Risk-free interest rate |  |  | 1.32 | % |  |  | 0.81 | %
Expected volatility |  |  | 68.5 | % |  |  | 71.8 | %
Expected life (years) |  |  | 2 |  |  |  | 2 |
Market value per share on grant date |  | $ | 1.43 |  |  | $ | 2.56 |
Exercise price per share |  | $ | 0.01 |  |  | $ | 0.01 |
Fair value per share on grant date |  | $ | 1.42 |  |  | $ | 2.55 |
For the years ended December 31, 2017 and 2016, Note investors exercised 241 thousand and 233 thousand warrant shares at exercise prices of $0.01 per share, respectively. A summary of historical warrant activity for the years ended December 31, 2017 and 2016 follows:
|  | Warrants Outstanding & Exercisable |  |  | Weighted - Average Exercise Price |  |  | Average Remaining Term in Years |
Outstanding December 31, 2015 |  |  | 368 |  |  | $ | 3.36 |  |  |  | 4.61 |
Granted |  |  | 227 |  |  |  | 0.01 |  |  |  |  |
Exercised |  |  | (233 | ) |  |  | 0.01 |  |  |  |  |
Expired |  |  | (18 | ) |  |  | 0.01 |  |  |  |  |
Outstanding December 31, 2016 |  |  | 344 |  |  | $ | 3.33 |  |  |  | 3.88 |
Granted |  |  | 227 |  |  |  | 0.01 |  |  |  |  |
Exercised |  |  | (241 | ) |  |  | 0.01 |  |  |  |  |
Expired |  |  | - |  |  |  | 0.01 |  |  |  |  |
Outstanding December 31, 2017 |  |  | 330 |  |  | $ | 3.47 |  |  |  | 3.02 |
25 thousand of the above outstanding warrants are not vested and exercisable as of December 31, 2017. As of December 31, 2017, the Company had $37 thousand of total unrecognized compensation expense related to warrants which the Company will amortize over the 0.94 years of weighted remaining term.

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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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