Annual report pursuant to Section 13 and 15(d)

Warrants

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Warrants
12 Months Ended
Dec. 31, 2019
Warrants [Abstract]  
Warrants

Note 20 - Warrants

 

During the three months ended December 31, 2018, the Company issued 2,056 shares of common stock in connection with the exercise of 2,056 warrants at $12.15 a share.  

 

On January 15, 2019, the Company issued warrants for the purchase of 80,000 shares of common stock in connection with a rights offering more fully described in Note 15. The warrants are exercisable for 5 years at an exercise price of $149.85 per share. Following the rights offering, the exercise price of the warrants issued in the April 2018 public offering were reduced to the floor price of $223.20 and the number of shares issuable upon exercise of such warrants was increased by 33,366 shares of common stock.

 

On August 12, 2019, the Company issued Series A warrants to purchase up to an aggregate of 384,387 shares of common stock in connection with the August 2019 capital raise more fully described in Note 15. The warrants are exercisable for 5 years at an exercise price per share of $12.4875.

 

During the three months ended March 31, 2019, the Company issued 306 shares of common stock in connection with the exercise of 306 warrants at $149.85 per share.

 

During the three months ended March 31, 2019, the Company issued 27,741 shares of common stock in connection with the exercise of 46,235 warrants through cashless exercises.

 

During the three months ended June 30, 2019, the Company issued 18,572 shares of common stock in connection with the exercise of 30,952 warrants through cashless exercises.

 

During the three months ended September 30, 2019, the Company issued 310,154 shares of common stock in connection with the exercise of 310,154 warrants through cashless exercises.

 

During the three months ended December 31, 2019, the Company issued 69,485 shares of common stock in connection with the exercise of 69,485 warrants through cashless exercises.

 

The following table summarizes the changes in warrants outstanding during the years ended December 31, 2018 and 2019:

 

    Number
of
Options
    Weighted
Average
Exercise
Price
    Aggregate
Intrinsic
Value
(in thousands)
 
Outstanding at January 1, 2018     25     $ 17,424.00     $ --  
Granted     54,664       803.70       --  
Exercised     (2,056 )     12.15       --  
Expired     (1 )     810,000.00       --  
Cancelled     --       --       --  
Outstanding at December 31, 2018     52,632     $ 866.70     $ --  
                         
Granted     497,753     $ 48.66       --  
Exercised     (457,132 )     35.78       --  
Expired     (1 )     6,075,000.00       --  
Cancelled     --       --       --  
Outstanding at December 31, 2019     93,252     $ 503.09     $ --  
                         
Exercisable at December 31, 2018     52,632     $ 866.70       --  
                         
Exercisable at December 31, 2019     93,252     $ 503.09       --