Common Stock and Warrants

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Common Stock and Warrants

Note 2. Common Stock and Warrants

Common Stock

At September 30, 2019, the Company had 500,000,000 authorized shares of common stock with a par value of $0.00001 per share, 87,352,364 shares of common stock outstanding and 19,440,765 shares reserved for issuance under the Company’s 2013 Long-Term Incentive Plan (the “2013 Plan”) as adopted and approved by the Company’s Board of Directors (the “Board”) on June 20, 2013 that provides for the grant of stock options to employees, directors, officers and consultants. No stock awards were made during the nine months ended September 30, 2019. See “Note 4. Stock Options” for further discussion.

Warrants

The following table summarizes information about warrants outstanding at September 30, 2019 and December 31, 2018:

	Shares of Common Stock Issuable from Warrants Outstanding as of
	September 30,		December 31,		Weighted Average
Description	2019		2018		Exercise Price		Expiration
Series A		-		240,000	$	0.35		July 12, 2019
Series D		810,000		810,000	$	1.10		June 5, 2020
Series E		584,416		584,416	$	1.54		September 8, 2021
Series F		7,246		7,246	$	3.45		February 23, 2022 & March 9, 2022
Series G		460,250		460,250	$	2.68		July 21, 2022
Series H		910,000		910,000	$	2.75		October 16, 2022
Series I		10,335,000		10,335,000	$	2.00		November 26, 2025
Total		13,106,912		13,346,912

During the three months ended September 30, 2019, Jörg Gerlach exercised the remaining 240,000 Series A warrants on a cashless basis resulting in the issuance of 176,842 shares of common stock.