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Warrants | 12 Months Ended
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Dec. 31, 2017
Warrants [Abstract] |
WARRANTS | NOTE 11: WARRANTS On November 13, 2017, the Company issued a warrant to purchase 5,882,352 shares of common stock at the per share price of $0.28 (subject to adjustment) to Slipstream Communications, LLC in connection with extension of the term loan facility. On August 10, 2017, the Company issued a warrant to purchase 5,882,352 shares of common stock at the per share price of $0.28 (subject to adjustment) to Slipstream Communications, LLC in connection with extension of the term loan facility. On August 17, 2016, the Company issued a warrant to purchase 5,882,352 shares of common stock at the per share price of $0.28 (subject to adjustment) to Slipstream Communications, LLC in connection with extension of the term loan facility. On June 29, 2016, the Company issued a warrant to purchase 89,286 shares of common stock at the per share price of $0.28 (subject to adjustment) pursuant to a securities purchase agreement as more fully described in Note 7, Loans Payable. On June 13, 2016, the Company issued a warrant to purchase 803,572 shares of common stock at the per share price of $0.28 (subject to adjustment) pursuant to a securities purchase agreement as more fully described in Note 7, Loans Payable. On May 3, 2016, the Company issued a warrant to purchase 892,857 shares common stock at the per share price of $0.28 (subject to adjustment) pursuant to a securities purchase agreement as more fully described in Note 7, Loans Payable. On January 15, 2016, the Company issued a warrant to purchase 250,000 shares of the Company’s common stock at the per share price of $0.28 (subject to adjustment) in exchange for services rendered related to the issuance of debt on December 28, 2015. The fair value of the warrants on the issuance date was $20. The warrants were initially recorded as a liability with a discount to the debt issued to amortized over the life of the debt but were reclassified to equity as a result of retrospective application of the adoption of ASU 2017-11. Listed below are the range of inputs used for the probability weighted Black Scholes option pricing model valuations when the warrants were issued and at December 31, 2017.
Issuance Date |  | Expected Term at Issuance Date |  | Risk Free Interest Rate at Date of Issuance |  | Volatility at Date of Issuance |  | Stock Price at Date of Issuance
8/20/2014 |  | 5.00 |  | 1.50% |  | 96.00% |  | $0.63
2/13/2015 |  | 5.00 |  | 1.28% |  | 100.00% |  | $0.34
5/22/2015 |  | 5.00 |  | 1.28% |  | 107.58% |  | $0.29
10/15/2015 |  | 5.00 |  | 1.71% |  | 58.48% |  | $0.22
10/26/2015 |  | 5.00 |  | 1.71% |  | 60.47% |  | $0.21
12/21/2015 |  | 5.00 |  | 1.75% |  | 58.48% |  | $0.21
12/28/2015 |  | 5.00 |  | 1.75% |  | 58.48% |  | $0.16
1/15/2016 |  | 5.00 |  | 1.76% |  | 58.48% |  | $0.17
5/3/2016 |  | 5.00 |  | 1.25% |  | 51.15% |  | $0.21
6/13/2016 |  | 5.00 |  | 1.14% |  | 51.12% |  | $0.17
6/29/2016 |  | 5.00 |  | 1.01% |  | 48.84% |  | $0.17
8/17/2016 |  | 5.00 |  | 1.15% |  | 51.55% |  | $0.15
11/4/2016 |  | 5.00 |  | 1.66% |  | 47.48% |  | $0.16
12/12/2016 |  | 5.00 |  | 1.90% |  | 48.54% |  | $0.19
8/19/2017 |  | 5.00 |  | 1.81% |  | 64.71% |  | $0.35
11/13/2017 |  | 5.00 |  | 2.08% |  | 66.24% |  | $0.29
Remaining Expected Term at December 31, 2017 |  | Risk Free Interest Rate at December 31, 2017 |  | Volatility at December 31, 2017 |  | Stock Price at December 31, 2017
1.64 - 4.87 |  | 1.83% |  | 72.34% |  | $0.32
A summary of outstanding debt and equity warrants is included below:
|  | Warrants (Equity) |  |  |  |  |  | Warrants (Liability) |  |  |  |
|  | Amount |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life |  |  | Amount |  |  | Weighted Average Exercise Price |  |  | Weighted Average Remaining Contractual Life |
Balance, January 1, 2016 |  |  | 12,937,902 |  |  |  | 1.88 |  |  |  | 3.90 |  |  |  | 6,487,500 |  |  |  | 0.35 |  |  |  | 3.64 |
Warrants issued to financial advisors |  |  | 500,000 |  |  |  | 0.28 |  |  |  | 4.46 |  |  |  | - |  |  |  | - |  |  |  | - |
Warrants issued with promissory notes |  |  | 1,785,715 |  |  |  | 0.28 |  |  |  | 4.37 |  |  |  | - |  |  |  | - |  |  |  | - |
Warrants issued with term loan |  |  | 7,424,804 |  |  |  | 0.28 |  |  |  | 4.70 |  |  |  | - |  |  |  | - |  |  |  | - |
Warrants expired |  |  | (1,116,359 | ) |  |  | 11.52 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balance, December 31, 2016 |  |  | 21,532,062 |  |  |  | 0.65 |  |  |  | 3.79 |  |  |  | 6,487,500 |  |  |  | 0.35 |  |  |  | 2.64 |
Warrants issued with term loan |  |  | 11,764,704 |  |  |  | 0.28 |  |  |  | 4.75 |  |  |  | - |  |  |  | - |  |  |  | - |
Warrants expired |  |  | (292,755 | ) |  |  | 46.68 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Balance December 31, 2017 |  |  | 33,004,011 |  |  |  | 0.47 |  |  |  | 3.55 |  |  |  | 6,487,500 |  |  |  | 0.35 |  |  |  | 1.64

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- Definition The entire disclosure of warrants issued or to be issued under warrant agreements. Warrants 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. May disclose information about the aggregate amount of securities called for by warrants outstanding, the date from which the warrants are exercisable, and the price at which the warrant is exercisable. + References No definition available. + Details
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