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9. Outstanding Warrants
 12 Months Ended
Dec. 31, 2019
Stockholders' deficit:  
Outstanding Warrants

During the years ended December 31, 2019 and 2018, 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  
    2019     2018  
Dividend-yield     0 %     0 %
Risk-free interest rate     2.13 %     2.25 %
Expected volatility     103.0 %     92.2 %
Expected life (years)     2       2  
Market value per share on grant date   $ 0.73     $ 1.05  
Exercise price per share   $ 0.01     $ 0.01  
Fair value per share on grant date   $ 0.72     $ 1.04  

 

For the years ended December 31, 2019 and 2018, Note investors exercised 227 thousand warrant shares for each period respectively, at exercise prices of $0.01 per share, respectively.

 

A summary of historical warrant activity for the years ended December 31, 2019 and 2018 follows:

 

     Warrants Outstanding & Exercisable     Weighted - Average Exercise Price     Average Remaining Term in Years  
 Outstanding December 31, 2017     330     $ 3.47       3.02  
 Granted     227       0.01          
 Exercised     (227 )     0.01          
 Expired     (235 )     3.82          
 Outstanding December 31, 2018     95     $ 2.59       6.95  
 Granted     227       0.01          
 Exercised     (227 )     0.01          
 Outstanding December 31, 2019     95     $ 2.59       5.95  

 

All of the above outstanding warrants are vested and exercisable as of December 31, 2019. As of December 31, 2019 and 2018, the Company had none and $37 thousand of total compensation expense related to warrants recognized, respectively.