| Convertible Preferred Stock, Common Stock and Warrants | At December 31, 2017 and 2016, there were no
financial instruments requiring fair value measurement. Dividends on Preferred Stock Since the Company’s
inception, no dividends were ever declared or paid by the Company’s Board of Directors. Conversion of Preferred Stock into Common
Stock During 2017 holders of Series
D Preferred Stock converted 88,384 shares into 398,131 shares of common stock, holders of Series I Preferred Stock converted 1,170,204
shares into 390,068 shares of common stock, holders of Series J Preferred Stock converted 1,614 shares into 537,874 shares of common
stock and holders of Series K Preferred Stock converted 1,850 shares into 61,667 shares of common stock. Exchange of Series F Preferred Stock,
Series G Preferred Stock and Series H Preferred Stock into Series L Preferred Stock On October 18,
2017, we entered into exchange agreements (each, an “Exchange Agreement” and collectively, the “Exchange Agreements”)
with the holders of all of the Company’s outstanding shares of Series F Preferred Stock, Series G Preferred Stock and Series
H Preferred Stock, pursuant to which 665,281 shares of Series F Preferred Stock, 1,000,000 shares of Series G Preferred Stock and
850 shares of Series H Preferred Stock were exchanged for 58,000 newly authorized shares of Series L Preferred Stock convertible
into 3,222,223 shares of common stock (the “Conversion Shares”). In connection with the Exchange Agreement the Company
became obligated to schedule and hold a special meeting of the stockholders of the Company within 60 days of the date of signing
the Exchange Agreement, at which time the Company shall present to its stockholders a proposal for approval of the potential issuance
of up to an aggregate of 3,222,223 shares of common stock, in excess of 19.99% of the number of shares of common stock that were
issued and outstanding on October 17, 2017, upon the conversion of 58,000 shares of the Series L Preferred Stock issued to the
holders pursuant to the Exchange Agreements. On December 1, 2017, the stockholders approved the number of shares underlying the
Series L Preferred Stock upon conversion. On December 21, 2017, following
the completion of the exchange of Series L Preferred Stock for all outstanding Series F Preferred Stock, Series G Preferred Stock
and Series H Preferred Stock and related documentation, The Company filed with the Secretary of State of the State of Delaware
a Certificates of Elimination eliminating from its Amended and Restated Certificate of Incorporation the designation of shares
of its preferred stock as Series F Preferred Stock, Series G Preferred Stock and Series H Preferred Stock. As a result, all shares
of preferred stock previously designated as Series F, Series G and Series H Preferred Stock were eliminated and returned to the
status of authorized but unissued shares of preferred stock, without designation. Series D Preferred Stock As of December 31, 2017
and 2016, there were 44,104 and 132,489 shares of Series D Preferred Stock issued and outstanding, respectively. Shares outstanding
as of December 31, 2017 and 2016 were convertible into 198,667 and 596,798 shares of common stock, respectively. As contemplated by the exchange
agreements and as approved by the Company’s Board of Directors, the Company filed with the Secretary of State of the State
of Delaware a Certificate of Designation of Preferences, Rights and Limitations of Series D Convertible Preferred Stock (the “Series
D Certificate of Designations”), on March 25, 2015. Pursuant to the Series D Certificate of Designations, the Company
designated 1,000,000 shares of its blank check preferred stock as Series D Preferred Stock. Each share of Series D Preferred Stock
has a stated value of $0.01 per share. In the event of a liquidation, dissolution or winding up of the Company, each share
of Series D Preferred Stock will be entitled to a per share preferential payment equal to the par value. Each share of Series D
Preferred Stock is convertible into 4.5045 shares of common stock. The conversion ratio is subject to adjustment in the event
of stock splits, stock dividends, combination of shares and similar recapitalization transactions. The Company is prohibited
from effecting the conversion of the Series D Preferred Stock to the extent that, as a result of such conversion, the holder beneficially
would own more than 4.99% (provided that certain investors elected to block their beneficial ownership initially at 2.49% in the
exchange agreements), in the aggregate, of the issued and outstanding shares of the Company’s common stock calculated immediately
after giving effect to the issuance of shares of common stock upon the conversion of the Series D Preferred Stock. Each share
of Series D Preferred Stock entitles the holder to vote on all matters voted on by holders of common stock. With respect to any
such vote, each share of Series D Preferred Stock entitles the holder to cast such number of votes equal to the number of shares
of common stock such shares of Series D Preferred Stock are convertible into at such time, but not in excess of the beneficial
ownership limitations. Series E Preferred Stock As of December 31, 2017,
and 2016, there were 33,333 shares of Series E Preferred Stock issued and outstanding, convertible into 173,251 shares of common
stock. On March 30, 2015, the Company
filed with the Secretary of State of the State of Delaware a Certificate of Designation of Preferences, Rights and Limitations
of Series E Convertible Preferred Stock (the “Series E Certificate of Designations”) to designate 100,000 shares of
its blank check preferred stock as Series E Preferred Stock. The shares of Series E Preferred
Stock are convertible into shares of common stock based on a conversion calculation equal to the stated value of such preferred
share, plus all accrued and unpaid dividends, if any, on such share of Series E Preferred Stock, as of such date of determination,
divided by the conversion price. The stated value of each share of Series E Preferred Stock is $75 and the initial conversion price
is $16.65 per share, each subject to adjustment for stock splits, stock dividends, recapitalizations, combinations, subdivisions
or other similar events. In addition, during the period proscribed for in the Series E Certificate of Designations, in the event
the Company issues or sells, or is deemed to issue or sell, shares of common stock at a per share price that is less than the conversion
price then in effect, the conversion price shall be reduced to such lower price, subject to certain exceptions. The Company is
prohibited from effecting a conversion of the share of Series E Preferred Stock to the extent that, as a result of such conversion,
such holder would beneficially own more than 4.99% of the number of shares of common stock outstanding immediately after giving
effect to the issuance of shares of common stock upon conversion of the Series E Preferred Stock, which beneficial ownership limitation
may be increased by the holder up to, but not exceeding, 9.99%. Each holder is entitled to vote on all matters submitted to stockholders
of the Company and shall have the number of votes equal to the number of shares of common stock issuable upon conversion of such
holder’s share of Series E Preferred Stock, but not in excess of beneficial ownership limitations. The shares of Series E
Preferred Stock bear no interest. On August 22, 2016, when
the Company closed on the August 2016 Public Offering, the current Series E Preferred Stock conversion price of $16.65 per share
was reduced to $14.43 per share under the terms of the Series E Certificate of Designations, resulting in an increase in the number
of shares of common stock to 173,251 that the Series E Preferred Stock may be converted into. In the event of a liquidation, dissolution
or winding up of the Company, each share of Series E preferred stock will be entitled to a per share preferential payment equal
to the stated value. There is no further adjustment required by the Series E Certificate of Designations in the event of an offering
of shares below $14.43 per share by the Company. Series F Preferred Stock As of December 31, 2017,
and 2016, there were no shares and 665,281 shares, respectively, of Series F Preferred Stock issued and outstanding. Shares outstanding
as of December 31, 2016 were convertible into 221,761 shares of common stock. These shares were exchanged for Series L Preferred
Stock in connection with the Exchange Agreement. On August 16, 2016, we filed
a Certificate of Designations, Preferences and Rights of the 0% Series F Convertible Preferred Stock with the Delaware Secretary
of State, designating 1,559,252 shares of preferred stock as 0% Series F Preferred Stock. The shares of Series F Preferred Stock
were convertible into shares of common stock based on a conversion calculation equal to the stated value of such Series F Preferred
Stock, plus all accrued and unpaid dividends, if any, on such Series F Preferred Stock, as of such date of determination, divided
by the conversion price. The stated value of each share of Series F Preferred Stock is $4.81 and the initial conversion price is
$14.43 per share, each subject to adjustment for stock splits, stock dividends, recapitalizations, combinations, subdivisions or
other similar events. In the event of a liquidation, dissolution or winding up of the Company, each share of Series F Preferred
Stock was entitled to a per share preferential payment equal to the par value. All shares of the Company’s capital stock
were junior in rank to Series F Preferred Stock with respect to the preferences as to dividends, distributions and payments upon
the liquidation, dissolution and winding-up of the Company, except for the Company’s Series D Preferred Stock and Series
E Preferred Stock. The holders of Series F
Preferred Stock were entitled to receive dividends if and when declared by our Board of Directors. The Series F Preferred Stock
had the ability to participate on an “as converted” basis, with all dividends declared on the Company’s common
stock. In addition, if we had granted, issued or sold any rights to purchase our securities pro rata to all our record holders
of our common stock, each holder was entitled to acquire such securities applicable to the granted purchase rights as if the holder
had held the number of shares of common stock acquirable upon complete conversion of all Series F Preferred Stock then held. We were prohibited from
effecting a conversion of the Series F Preferred Stock to the extent that, as a result of such conversion, the holder would beneficially
own more than 4.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of shares
of common stock upon conversion of the Series F Preferred Stock, which beneficial ownership limitation may be increased by the
holder up to, but not exceeding, 9.99%. Each holder was entitled to vote on all matters submitted to stockholders of the Company
and would have had the number of votes equal to the number of shares of common stock issuable upon conversion of such holder’s
Series F Preferred Stock, but not in excess of the beneficial ownership limitations. Series G Preferred Stock As of December 31, 2017,
and 2016, there were no shares of our Series G Preferred Stock issued and outstanding. On May 19, 2017, we closed a public offering
of 1,000,000 shares of newly designated 0% Series G Convertible Preferred stock; however, on October 17, 2017, these shares were
exchanged for our Series L Preferred Stock in connection with the Exchange Agreement. Pursuant to a Series G Preferred
Stock Certificate of Designations, on May 15, 2017, we designated 5,000,000 shares of our blank check preferred stock as Series
G Preferred Stock, par value of $0.01 per share. The shares of Series G Preferred Stock were convertible into shares of common
stock based on a conversion calculation equal to the stated value of the of such Series G Preferred Stock, plus all accrued and
unpaid dividends, if any, on such Series G Preferred Stock, as of such date of determination, divided by the conversion price.
The stated value of each share of Series G Preferred Stock is $1.75 and the initial conversion price is $5.25 per share, each subject
to adjustment for stock splits, stock dividends, recapitalizations, combinations, subdivisions or other similar events. The
holder of a majority of the Series G Preferred Stock had the right to nominate a candidate for the Board, such right to expire
on December 31, 2017. In the event of a liquidation,
dissolution or winding up of the Company, each share of Series G Preferred Stock was entitled to a per share preferential payment
equal to the par value. All shares of our capital stock were junior in rank to Series G Preferred Stock with respect to the
preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding-up of the Company, except
for the Company’s Series D Preferred Stock, Series E Preferred Stock and Series F Preferred Stock. The holders of Series
G Preferred Stock were entitled to receive dividends if and when declared by our Board of Directors. The Series G Preferred Stock
were entitled to participate on an “as converted” basis, with all dividends declared on our common stock. In
addition, if we had granted, issued or sold any rights to purchase our securities pro rata to all our record holders of our common
stock, each holder was entitled to acquire such securities applicable to the granted purchase rights as if the holder had held
the number of shares of common stock acquirable upon complete conversion of all Series G Preferred Stock then held. We were prohibited from
effecting a conversion of the Series G Preferred Stock to the extent that, as a result of such conversion, the holder would beneficially
own more than 4.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of shares
of common stock upon conversion of the Series G Preferred Stock, which beneficial ownership limitation may be increased by the
holder up to, but not exceeding, 9.99%. Each holder was entitled to vote on all matters submitted to stockholders of the Company
and would have had the number of votes equal to the number of shares of common stock issuable upon conversion of such holder’s
Series G Preferred Stock, but not in excess of the beneficial ownership limitations. Series H Preferred Stock As of December 31, 2017
and 2016, there were no shares of our Series H Preferred Stock issued and outstanding. On May 3, 2017 we closed a private placement
of 850 shares; however, these shares were exchanged for our Series L Preferred Stock in connection with the Exchange Agreement. Pursuant to a Series H Preferred
Stock Certificate of Designations, on May 3, 2017, we designated 2,000 shares of our blank check preferred stock as Series H Preferred
Stock, par value of $0.01 per share. The shares of Series H Preferred Stock were convertible into shares of common stock based
on a conversion calculation equal to the stated value of the Series H Preferred Stock, plus the base amount, if any, on such Series
H Preferred Stock, as of such date of determination, divided by the conversion price. The stated value of each share of Series
H Preferred Stock was $1,000 and the initial conversion price was $5.25 per share, each subject to adjustment for stock splits,
stock dividends, recapitalizations, combinations, subdivisions or other similar events. In the event of a liquidation,
dissolution or winding up of the Company, each share of Series H Preferred Stock was entitled to a per share preferential payment
equal to the base amount. All shares of our capital stock were junior in rank to Series H Preferred Stock with respect to
the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding-up of the Company other
than Series A through G Preferred Stock. The holders of Series H Preferred Stock were entitled to receive dividends if and
when declared by our Board of Directors. The Series H Preferred Stock holders were entitled to participate on an “as converted”
basis, with all dividends declared on our common stock. In addition, if we granted, issued or sold any rights to purchase
our securities pro rata to all our record holders of our common stock, each holder was entitled to acquire such securities applicable
to the granted purchase rights as if the holder had held the number of shares of common stock acquirable upon complete conversion
of all Series H Preferred Stock then held. We were prohibited from
effecting a conversion of the Series H Preferred Stock to the extent that, as a result of such conversion, the holder would beneficially
own more than 4.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of shares
of common stock upon conversion of the Series H Preferred Stock, which beneficial ownership limitation may be increased by the
holder up to, but not exceeding, 9.99%. Each holder was entitled to vote on all matters submitted to stockholders of the Company,
and would have had the number of votes equal to the number of shares of common stock issuable upon conversion of such holder’s
Series H Preferred Stock, but not in excess of the beneficial ownership limitations. Series I Preferred Stock As of December 31, 2017
and 2016, there were 798,460 and no shares of our Series I convertible preferred stock (the “Series I Preferred Stock”)
issued and outstanding and convertible into 266,154 and no shares of our common stock, respectively. I Preferred Stock Certificate
of Designations, on May 26, 2017, we designated 1,968,664 shares of our blank check preferred stock as Series I Preferred Stock,
par value of $0.01 per share. Each share of Series I Preferred
Stock has a stated value of $0.01 per share. In the event of a liquidation, dissolution or winding up of the Company, each
share of Series I Preferred Stock will be entitled to a per share preferential payment equal to the stated value. Each share of
Series I Preferred Stock is convertible into one-third share of common stock. The conversion ratio is subject to adjustment in the
event of stock splits, stock dividends, combination of shares and similar recapitalization transactions. The Company is prohibited
from effecting the conversion of the Series I Preferred Stock to the extent that, as a result of such conversion, the holder beneficially
owns more than 4.99%, in the aggregate, of the issued and outstanding shares of the Company’s Common Stock calculated immediately
after giving effect to the issuance of shares of Common Stock upon the conversion of the Series I Preferred Stock (the “Beneficial
Ownership Limitation”), which beneficial ownership limitation may be increased by the holder up to, but not exceeding, 9.99%. Each
share of Series I Preferred Stock entitles the holder to vote on all matters voted on by holders of Common Stock. With respect
to any such vote, each share of Series I Preferred Stock entitles the holder to cast such number of votes equal to the number of
shares of Common Stock such shares of Series I Preferred Stock are convertible into at such time, but not in excess of the Beneficial
Ownership Limitation. Series J Preferred Stock As of December 31, 2017,
and December 31, 2016, there were 773 and no shares of our Series J Preferred Stock issued and outstanding and convertible into
257,577 and no shares of our common stock, respectively. On August 14, 2017, the
Company filed a Certificate of Designations, Preferences and Rights of the 0% Series J Convertible Preferred Stock with the Delaware
Secretary of State, designating 3,400 shares of preferred stock as Series J Preferred Stock. The shares of Series J Preferred Stock
are convertible into shares of common stock based on a conversion calculation equal to the stated value of the Series J Preferred
Stock, plus all accrued and unpaid dividends, if any, on such Series J Preferred Stock, as of such date of determination, divided
by the conversion price. The stated value of each share of Series J Preferred Stock is $550 and the initial conversion price is
$1.65 per share, each subject to adjustment for stock splits, stock dividends, recapitalizations, combinations, subdivisions or
other similar events. For so long as the holder
has Series J Preferred Stock, if the Company sells, or is deemed to have sold, common stock, or common equivalent shares, for consideration
per share less than the conversion price in effect immediately prior to the issuance (the “Lower Issuance Price”),
then the conversion price in effect immediately prior to such issuance will be adjusted to the Lower Issuance Price, provided however
the Lower Issuance Price shall not be less than $0.03. The holders of Series J
Preferred Stock will be entitled to receive dividends if and when declared by our Board of Directors. The Series J Preferred Stock
shall participate on an “as converted” basis, with all dividends declared on our common stock. In addition,
if we grant, issue or sell any rights to purchase our securities pro rata to all our record holders of our common stock, each holder
will be entitled to acquire such securities applicable to the granted purchase rights as if the holder had held the number of shares
of common stock acquirable upon complete conversion of all Series J Preferred Stock then held. We are prohibited from effecting
a conversion of the Series J Preferred Stock to the extent that, as a result of such conversion, the holder would beneficially
own more than 4.99% of the number of shares of common stock outstanding immediately after giving effect to the issuance of shares
of common stock upon conversion of the Series J Preferred Stock, which beneficial ownership limitation may be increased by the
holder up to, but not exceeding, 9.99%. Each holder is entitled to vote on all matters submitted to stockholders of the Company,
and shall have the number of votes equal to the number of shares of common stock issuable upon conversion of such holder’s
Series J Preferred Stock, substituting the consolidated closing bid price of the common stock on August 10, 2017 for the then-applicable
conversion price, and not in excess of the beneficial ownership limitations. The Company shall not be
obligated to issue any shares of common stock upon conversion of the Series J Preferred Stock, and the holder of any shares of
Series J Preferred Stock shall not have the right to receive upon conversion of any shares of the Series J Preferred Stock if the
issuance of such shares of common stock would exceed the aggregate number of shares of common stock which the Company may issue
upon conversion of the Series J Preferred Stock without breaching the Company's obligations under the rules or regulations of The
NASDAQ Capital Market, which aggregate number equals 19.99% of the number of shares outstanding on the closing date, except that
such limitation shall not apply in the event that the Company obtains the approval of its stockholders as required by the applicable
rules of The NASDAQ Capital Market for issuances of common stock in excess of such amount. Such approval was obtained in October
2017. Holders of Series J Preferred
Stock will be entitled to a preferential payment of cash per share equal to the greater of 125% of the base amount on the date
of payment or the amount per share had the holders converted such preferred shares immediately prior to the date of payment upon
the liquidation, dissolution or winding up of the affairs of the Company, or a consolidation or merger of the Company with or into
any other corporation or corporations, or a sale of all or substantially all of the assets of the Company, or the effectuation
by the Company of a transaction or series of transactions in which more than 50% of the voting shares of the Company is disposed
of or conveyed. Series K Preferred Stock As of December 31, 2017
and 2016, there were 63,150 and no shares, respectively, of our Series K convertible preferred stock (“Series K Preferred
Stock”) issued and outstanding and convertible into 2,105,000 and no shares of our common stock, respectively. On August 14, 2017, the
Company filed a Certificate of Designations, Preferences and Rights of the Series K Convertible Preferred Stock with the Delaware
Secretary of State, designating 65,000 shares of preferred stock as Series K Preferred Stock. The shares of Series K Preferred
Stock are convertible into shares of common stock based on a conversion calculation equal to the stated value of the Series K Preferred
Stock divided by the conversion price. The stated value of each share of Series K Preferred Stock is $0.01 and the initial conversion
price is $0.0003 per share, each subject to adjustment for stock splits, stock dividends, recapitalizations, combinations, subdivisions
or other similar events. The holders of Series K
Preferred Stock will be entitled to receive dividends if and when declared by our Board of Directors. The Series K Preferred Stock
shall participate on an “as converted” basis, with all dividends declared on our common stock. In addition,
if we grant, issue or sell any rights to purchase our securities pro rata to all our record holders of our common stock, each holder
will be entitled to acquire such securities applicable to the granted purchase rights as if the holder had held the number of shares
of common stock acquirable upon complete conversion of all Series K Preferred Stock then held. We are prohibited from effecting
any conversion of the Series K Preferred Stock if the Company has not obtained shareholder approval for the full conversion of
the Series J Preferred Stock and Series K Preferred Stock in accordance with the rules of The NASDAQ Capital Market or to the extent
that, as a result of such conversion, the holder would beneficially own more than 4.99% of the number of shares of common stock
outstanding immediately after giving effect to the issuance of shares of common stock upon conversion of the Series K Preferred
Stock, which beneficial ownership limitation may be increased by the holder up to, but not exceeding, 9.99%. Each holder is entitled
to vote on all matters submitted to stockholders of the Company, and shall have the number of votes equal to the number of shares
of common stock issuable upon conversion of such holder’s Series K Preferred Stock, substituting the consolidated closing
bid price of the common stock on August 10, 2017 for the then-applicable conversion price, and not in excess of the beneficial
ownership limitations. Such approval was obtained in October 2017. Series L Preferred Stock As of December 31, 2017
and 2016, there were 58,000 and no shares of our Series L Preferred Stock issued and outstanding and convertible into 3,222,223
and no shares of our common stock, respectively. On October 16, 2017, we
filed a Certificate of Designations, Preferences and Rights of the 0% Series L Convertible Preferred Stock (the "Series
L Certificate of Designation") with the Delaware Secretary of State, designating 58,000 shares of preferred stock as Series
L Preferred Stock. On October 18, 2017, we filed a Certificate of Correction to the Series L Certificate of Designation to
include a sentence that was inadvertently omitted. The shares of Series L Preferred
Stock are convertible into shares of common stock based on a conversion calculation equal to the stated value of the Series L Preferred
Stock, plus all accrued and unpaid dividends, if any, on such Series L Preferred Stock, as of such date of determination, divided
by the conversion price. The stated value of each share of Series L Preferred Stock is $100 and the initial conversion price is
$1.80 per share, each subject to adjustment for stock splits, stock dividends, recapitalizations, combinations, subdivisions or
other similar events. The holders of Series L
Preferred Stock will be entitled to receive dividends if and when declared by our Board of Directors. The Series L Preferred Stock
shall participate on an “as converted” basis, with all dividends declared on our common stock. In addition,
if the Company grants, issues or sells any rights to purchase its securities pro rata to all record holders of common stock, each
holder will be entitled to acquire such securities applicable to the granted purchase rights as if the holder had held the number
of shares of common stock acquirable upon complete conversion of all Series L Preferred Stock then held. We are prohibited from effecting
a conversion of the Series L Preferred Stock if the Company has not obtained stockholder approval for the full conversion
of the Series L Preferred Stock in accordance with the rules of The NASDAQ Capital Market or to the extent that, as a result
of such conversion, the holder would beneficially own more than 4.99% of the number of shares of common stock outstanding immediately
after giving effect to the issuance of shares of common stock upon conversion of the Series L Preferred Stock, which beneficial
ownership limitation may be increased by the holder up to, but not exceeding, 9.99%. Each holder is entitled to vote on all matters
submitted to stockholders of the Company, and shall have the number of votes equal to the number of shares of common stock issuable
upon conversion of such holder’s Series L Preferred Stock, substituting the consolidated closing bid price of the common
stock on October 13, 2017, for the then-applicable conversion price, and not in excess of the beneficial ownership limitations
or limitations required by the rules and regulations of The NASDAQ Capital Market. Holders of Series L Preferred
Stock will be entitled to a preferential payment of cash per share equal to the greater of 100% of the base amount representing
the sum of the stated value and any unpaid dividends, or the Base Amount, on the date of payment or the amount per share had the
holders converted such preferred shares immediately prior to the date of payment upon the liquidation, dissolution or winding up
of the affairs of the Company, or a consolidation or merger of the Company with or into any other corporation or corporations,
or a sale of all or substantially all of the assets of the Company, or the effectuation by the Company of a transaction or series
of transactions in which more than 50% of the voting shares of the Company is disposed of or conveyed. Warrants Issued in Connection with April
2015 Private Placement As of December 31, 2017,
there were no warrants outstanding in connection with the April 2015 Private Placement as all of the warrants expired on October
10, 2017. As of December 31, 2016, there were warrants outstanding to purchase 268,454 shares of common stock at $33.30 per share. The warrants priced at $33.30
and $6.00 per share were remaining from our private offering in March and April 2015 (the “April 2015 Private Placement”)
in which we sold $8,546,348 worth of units (the “Units”), net of $668,150 in issuance costs, of which $2,500,000 of
the Units consisted of Series E Preferred Stock and the balance consisted of 553,424 shares of common stock, together with warrants
to all investors to purchase 351,787 shares of common stock at $33.30 per share. Each Unit was sold at a purchase price
of $16.65 per Unit. OPKO Health, Inc., the lead investor in the April 2015 Private Placement, purchased $2,500,000 worth of Units
consisting all the shares of the Series E Preferred Stock. In connection with
the May 2017 Public Offering, the Company had agreed to amend the terms of a portion of the outstanding warrants, or warrants to
purchase 108,108 shares of common stock that had an exercise price of $33.30 per share, such that the amended warrants shall have
an exercise price of $6.00 per share and no cashless exercise feature, for those investors who made a certain minimum required
investment to qualify for repricing. After the repricing, the stock price never reached above $6.00 in order for the warrants to
be exercised prior to the expiration date of October 10, 2017. Warrants Issued in Connection with October
2015 Public Offering As of December 31, 2017
and 2016, there were warrants outstanding to purchase 56,307 shares of common stock at $29.31 per share in connection with a public
offering on October 5, 2015. The warrants at $29.31 per
share were issued in connection with our public offering on October 5, 2015, which consisted of 112,613 shares of common stock
and warrants to purchase 56,307 shares of common stock, at an offering price of $2.71 per share. For every two |
