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Equity (Tables)

9 Months Ended

Sep. 30, 2015

Information about warrants outstanding during the nine months ended September 30, 2015 follows:

Original Number of Warrants Issued	Exercise Price per Common Share		Exercisable at December 31, 2014		Became Exercisable		Exercised		Terminated / Cancelled / Expired		Exercisable at September 30, 2015		Expiration Date
2,619,036 (1)	$	3.59		157,467		—		120,161		37,306		—	March 2015
25,000 (2)	$	7.00		—		25,000		—		—		25,000	April 2020
				157,467		25,000		120,161		37,306		25,000

(1)

Referred to as our Series I Warrants.

(2)

Referred to as Advisor Warrants

- 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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