Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

v3.7.0.1
Stockholders' Equity (Tables)
6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Schedule of warrants exercised

During the six months ended June 30, 2017, 1,175,796 shares were issued pursuant to cash and cashless warrant exercises as detailed below. Generally, the warrants specify using the preceding five-day average of closing prices for the Company’s common stock in the calculation of common stock to be issued pursuant to a cashless exercise.

 

      Average Closing           Warrant     Common  
      Market Price     Exercise Price     Shares     Shares  
Date     Per Share     Per Share     Exercised     Issued  
                           
  2/10/2017     $ 11.016     $ 0.0034375       392,728       392,605  
  2/13/2017     $ 13.062     $ 3.00       25,119       19,349  
  2/13/2017     $ 13.062     $ 6.00       72,420       39,154  
  2/15/2017     $ 16.768     $ 6.00       65,177       41,856  
  2/16/2017     $ 16.768     $ 6.00       35,000       22,470  
  3/17/2017     $ 20.262     $ 6.00       2,500       2,500  
  3/20/2017     $ 20.304     $ 3.00       226,068       192,666  
  3/20/2017     $ 20.304     $ 6.00       586,596       413,253  
  4/3/2017     $ 19.148     $ 0.0034375       43,636       43,628  
  4/11/2017     $ 17.920     $ 6.00       12,500       8,315  
                                     
                          1,461,744       1,175,796  
Schedule of warrants outstanding

Warrants to purchase shares of the Company’s common stock at a weighted average exercise price of $8.45 are as follows.

 

Exercise Price     Expiration     Shares Subject to purchase  
per Share     Date     at June 30, 2017  
               
$ 7.12       5/18/2018       702,247  
$ 9.00       5/18/2019       1,605,131  
$ 10.00       11/21/2019       33,450  
                     
                  2,340,828  
Schedule of the allocation of stock-based compensation

The stock-based compensation expense attributable to option grants granted was allocated as follows: 

 

    Three months ended June 30,     Six months ended June 30,  
    2017     2016     2017     2016  
Sales cost   $ 24     $     $ 24     $  
Research and development cost     73       55       160       106  
General and administrative expense     209       475       283       632  
Total   $ 306     $ 530     $ 467     $ 738  
Schedule of assumptions used in the black-scholes-Merton option-pricing model

The following assumptions were used in the Black-Scholes-Merton pricing model to estimate the fair value of the options.

 

    Three months ended June 30,     Six months ended June 30,  
    2017     2016     2017     2016  
                         
Expected stock volatility     71.04% - 72.65 %     72.36% - 80 %     70.92% - 72.65 %     72%-80 %
Risk free interest rate     1.38% - 1.66 %     0.94% - 1.20 %     1.38% - 1.79 %     0.94%-1.77 %
Expected years until exercise     2.50-3.50       2.50-3.50       2.50-3.50       2.50-3.50  
Dividend yield     0 %     0 %     0 %     0 %