At June 30, 2017, there were warrants outstanding to purchase 1,288,500 shares of common stock with a weighted average exercise price of $1.00 and a weighted average remaining life of 1.92 years. No warrants were exercised during the six months ended June 30, 2017. During the six months ended June 30, 2016, warrants to purchase 3,750 shares of common stock were exercised on a cashless basis resulting in the issuance of 1,849 shares and 1,250 shares of common stock were exercised on a cash basis. There were no warrants issued or cancelled during the six months ended June 30, 2017 and 2016.