Annual report pursuant to Section 13 and 15(d)

Equity Instruments (Tables)

Equity Instruments (Tables)

12 Months Ended

Dec. 31, 2015

The following table summarizes information about our outstanding warrants at December 31, 2015:

	Exercise Price			Number of Warrants		Expiration Date
Series BB	$	2.00			300,000	July 2018
Series GG		2.10			333,333	December 2016
Series HH		2.49			301,205	June 2023
Series II		3.04			275,000	June 2018
Series KK		1.918			391,032	March 2021
Series LL		0.01			9,777,130	August 2035
Series MM		2.50			150,000	September 2019
Series MM		2.50			150,000	October 2019
	$	0.38	*		11,677,700

Weighted average exercise price.

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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