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Warrants (Tables)

12 Months Ended

Dec. 31, 2017

Warrants [Abstract]

Schedule of range of inputs used for probability weighted Black Scholes option pricing model valuations

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

Summary of outstanding debt and equity warrants

		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

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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