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Common Stock Purchase Warrants

9 Months Ended

Sep. 30, 2019

NOTE 13. COMMON STOCK PURCHASE WARRANTS

The Company has issued common stock purchase warrants in conjunction with various debt and equity issuances. The warrants are either immediately exercisable, or have a delayed initial exercise date, no more than nine months from issue date, and allow the holders to purchase up to 4,717,573 shares of common stock at $2.60 to $16.50 per share as of September 30, 2019. The warrants expire from July 15, 2020 through July 31, 2023 and allow for cashless exercise.

	Warrants			Weighted average exercise price
Vested Balance, January 1, 2019		4,693,145		$	5.40
Granted		571,428			1.81
Exercised		(529,000	)		(2.96	)
Cancelled		(18,000	)		(3.50	)
Vested Balance, September 30, 2019		4,717,573		$	5.23

The total intrinsic value of all outstanding warrants aggregated $-0- as of September 30, 2019 and the weighted average remaining term is 40.3 months.

The following table summarizes the range of exercise prices and weighted average remaining contractual life for outstanding and exercisable warrants to purchase common shares as of September 30, 2019:

		Outstanding and exercisable warrants
Exercise price		Number of warrants		Weighted average remaining contractual life
$	1.81		571,428	4.9 years
$	2.60		465,712	3.8 years
$	3.00		701,667	3.5 years
$	3.25		120,000	3.2 years
$	3.36		880,000	3.2 years
$	3.65		200,000	2.8 years
$	3.75		94,000	2.9 years
$	5.00		800,000	2.3 years
$	13.43		879,766	1.3 years
$	16.50		5,000	0.8 years

			4,717,573	3.0 years