Common Stock |
6 Months Ended |
|---|---|
Jun. 30, 2016 | |
| Notes to Financial Statements | |
| Note 7 - Common Stock |
a) Issuances Upon Warrant Exercises
On January 15, 2016, 100,000 warrants were exercised at a price of $0.50 per share for net cash proceeds to the Company of $50,000. As a result 100,000 shares of common stock were issued.
On March 22, 2016, 100,000 warrants were exercised at a price of $0.50 per share for net cash proceeds to the Company of $50,000. As a result 100,000 shares of common stock were issued to a related party.
On March 29, 2016, 100,000 warrants were exercised at a price of $0.50 per share for net cash proceeds to the Company of $50,000. As a result 100,000 shares of common stock were issued to a related party.
On April 20, 2016, 1,172 warrants were exercised at a price of $2.60 per share, for net cash proceeds to the Company of $3,047. As a result, a total of 1,172 shares of common stock were issued to a related party.
On April 20, 2016, 1,429 warrants were exercised at a price of $2.60 per share, for net cash proceeds to the Company of $3,715. As a result, a total of 1,429 shares of common stock were issued to a related party.
On June 10, 2016, 5,484 warrants were exercised at a price of $0.50 per share, for net cash proceeds to the Company of $2,742. As a result, a total of 5,484 shares of common stock were issued to a related party.
On June 14, 2016, 94,516 warrants were exercised at a price of $0.50 per share, for net cash proceeds to the Company of $47,258. As a result, a total of 94,516 shares of common stock were issued.
b) Issuances Upon Option Exercises
On May 20, 2016, stock options were exercised to purchase 88,000 shares of common stock at $3.00 per share in cashless exercises. As a result, a total of 13,419 shares of common stock were issued to related parties.
On May 24, 2016, stock options were exercised to purchase 8,000 shares of common stock at $3.00 per share in cashless exercises. As a result 1,122 shares of common stock were issued.
On May 25, 2016, stock options were exercised to purchase 5,000 shares of common stock at $3.00 per share in cashless exercises. As a result, a total of 562 shares of common stock were issued to a related party.
On May 25, 2016, stock options were exercised to purchase 4,000 shares of common stock at $3.00 per share in cashless exercises. As a result 449 shares of common stock were issued.
On June 16, 2016, stock options were exercised to purchase 29,000 shares of common stock at $2.50 to $3.00 per share in cashless exercises. As a result, a total of 5,179 shares of common stock were issued to a related party.
c) Issuances In Connection With Public Offering
On March 23, 2016, 4,334,615 shares of common stock were issued at a price of $3.25 per share, less underwriting discounts and commissions, for net cash proceeds to the Company of approximately $13.1 million. |