Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)
3 Months Ended
Mar. 31, 2016
Stockholders' Equity [Abstract]  
Schedule of warrant activities
                Weighted Average  
        Weighted     Remaining  
    Number of
Exercise Price
    Contractual Term  
Outstanding as of December 31, 2015     12,809,950     $ 1.14       4.52  
Issued in connection with various financings (1)     14,744,666       0.48          
Reset warrants (2)     25,284,713       0.24          
Outstanding as of March 31, 2016     52,839,329     $ 0.39       4.63  


(1) The warrants contain “down round protection” and the Company classifies these warrant instruments as liabilities at their fair value and adjusts the instruments to fair value at each reporting period.


(2) Certain warrants contain aggregate exercise provisions, and upon a reset the exercise price is decreased and the amount of common stock available under the warrant agreement increases.  During the 1st quarter a reset occurred decreasing the exercise price from $2.00 to $0.24, and increasing the amount of common stock available to be issued from 12,727,000 to 38,011,000