NOTE 8 – WARRANTS

During the six months ended June 30, 2018 and 2017, the Company issued warrants to purchase 4,239,000 and 100,000 shares of common stock, respectively, expiring in February 2021 and March 2020, respectively, at exercise prices ranging from $0.30 to $2.25 per share. The Company recorded non-cash equity compensation of approximately $6,370,000 in 2018 and $19,000 in 2017 representing the estimated fair value of these instruments on the issuance dates.

During the six months ended June 30, 2018, warrants to purchase 1,425,379 shares of common stock were exercised, at exercise prices ranging from $0.10 and $0.50 per share. No warrants were exercised during the same period in 2017.

At June 30, 2018 and 2017, warrants to purchase 7,058,932 and 1,225,000 shares of common stock were outstanding, respectively, at exercise prices ranging between $0.10 and $2.25 per share.