ClearPoint Neuro, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2017

Stock option activity under all of the Company’s Plans during the nine months ended September 30, 2017 is summarized below:

	Shares			Weighted - Average Exercise Price
Outstanding at December 31, 2016		337,441		$	42.07
Granted		13,625			2.90
Forfeited		(40,117	)		36.06
Outstanding at September 30, 2017		310,949		$	41.95

Schedule of assumptions used in calculating the fair value under the Black-Scholes option-pricing model

The estimated grant date fair values of options granted during the three months ended September 30, 2017 were calculated using the Black-Scholes valuation model, based on the following assumptions:

Dividend yield			0%
Expected volatility			43.38% - 48.62%
Risk free interest rates			1.91% - 2.05%
Expected lives (in years)			6

Schedule of share-based compensation expense

The Company records share-based compensation expense on a straight-line basis over the related vesting period. For the three and nine months ended September 30, 2017 and 2016, share-based compensation expense related to options was:

Three Months Ended September 30,
2017		2016
$	186,982	$	238,101

Nine Months Ended September 30,
2017		2016
$	616,007	$	736,982

Schedule of common stock warrant activity

Warrants have generally been issued for terms of up to five years. Common stock warrant activity for the nine months ended September 30, 2017 was as follows:

	Shares			Weighted - Average Exercise Price
Outstanding at December 31, 2016		1,991,293		$	13.00
Issued		7,134,200			2.20
Exercised		(3,845	)		2.00
Terminated		(172,070	)		32.77
Outstanding at September 30, 2017		8,949,578		$	4.12

- 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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