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Warrants

9 Months Ended

Sep. 30, 2018

Note 14. Warrants

Common Stock Warrants

Following is a summary of all warrant activity for the nine months ended September 30, 2018:

Warrants	Number of Warrants Issued		Weighted Average Exercise Price

Warrants outstanding at December 31, 2017		3,058,402	$	5.29
Warrants issued during the nine months ended September 30, 2018 (see Note 10)		190,114	$	2.63

Warrants outstanding at September 30, 2018		3,248,516	$	5.14

Aggregate intrinsic value of outstanding warrants at September 30, 2018	$	69,229

Weighted average remaining contractual terms at September 30, 2018 (in years)		3.24

On October 29, 2018, the Company and certain investors holding warrants to collectively purchase 1.6 million shares of the Company’s common stock, which were received in the February 2017 Public Offering and the October 2017 Underwritten Offering, entered into warrant exchange agreements whereby the Company issued 820,714 shares of its common stock in exchange for the warrants. After the warrant exchange, warrants outstanding totaled 1.6 million with a weighted average exercise price of $5.75 per share. Approximately 1.2 million of these outstanding warrants with a strike price of $6.20 per share will expire on April 4, 2019.