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WARRANTS AND NON-INCENTIVE PLAN OPTIONS

6 Months Ended

Jun. 30, 2017

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Disclosure of Compensation Related Costs, Share-based Payments [Text Block]

NOTE 14. WARRANTS AND NON-INCENTIVE PLAN OPTIONS

Warrants

In 2013, our predecessor entity (then known as Cazador Acquisition Corporation Ltd.) issued 8,940,000 warrants to purchase 894,000 shares (reverse split adjusted) of common stock in connection with its private placement and initial public offering. At June 30, 2017 and December 31, 2016, we had warrants outstanding to purchase 893,890 shares of common stock. At June 30, 2017, the warrants have a weighted average exercise price of $75.00 per share purchased and a weighted average remaining contractual term of 0.25 years (0.75 years at December 31, 2016). These warrants are “out-of-the-money” and have no intrinsic value at June 30, 2017 and December 31, 2016. The warrants are exercisable only if a registration statement relating to the common shares issuable upon exercise of the warrants is effective and current. These warrants expire on October 1, 2017.

Non-Incentive Plan Options

At June 30, 2017 and December 31, 2016, we had 1,602,142 non-incentive options outstanding with a weighted average exercise price of $2.18 and a remaining contract term of 3.42 and 3.92 years, respectively. These options were out of the money at June 30, 2017 and December 31, 2016 and had no intrinsic value.

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- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 718
-URI http://asc.fasb.org/topic&trid=2228938

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 50
-URI http://asc.fasb.org/subtopic&trid=2208855

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- References

No definition available.

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