Common Stock and Warrants

3 Months Ended

Mar. 31, 2020

Equity [Abstract]

Common Stock and Warrants

Note 4. Common Stock and Warrants

Common Stock

At March 31, 2020, 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. During the three months ended March 31, 2020, the Company granted Alan L. Rubino, the Company’s President and Chief Executive Officer, an option to purchase up to 620,571 shares of the Company’s common stock at an exercise price of $3.23. See “Note 5. Stock Options” for further discussion.

Warrants

The following table summarizes information about warrants outstanding at March 31, 2020 and December 31, 2019:

	Shares of Common Stock Issuable from Warrants Outstanding as of				Weighted
	March 31,		December 31,		Average
Description	2020		2019		Exercise Price		Expiration
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		13,106,912