Quarterly report pursuant to Section 13 or 15(d)

Common Stock

Common Stock
3 Months Ended
Mar. 31, 2018
Notes to Financial Statements  
Note 7 - Common Stock

As of March 31, 2018, the Company was authorized to issue 100 million shares of common stock par value $0.001 per share , of which 30,030,793 and 26,519,394 shares were issued outstanding as of March 31, 2018 and December 31, 2017, respectively.


On March 13, 2018, the Company issued 3.5 million shares of common stock in a registered public offering at a price of $2.40 per share, for aggregate gross proceeds of $8.4 million. In connection with the transaction, $0.6 million was incurred for legal and underwriting fees resulting in net proceeds of $7.8 million. Pursuant to this offering, the underwriters had the option to purchase up to an additional 525,000 shares of common stock for 30 days following the pricing of the initial closing, which option was not exercised.


During the period ended March 31, 2018, 26,400 warrants were exercised to purchase shares of common stock at a price of $2.00 per share in a cashless exercise that resulted in the issuance of 11,399 shares of common stock.