Common Stock and Warrants

9 Months Ended

Sep. 30, 2020

Equity [Abstract]

Common Stock and Warrants

Note 4. Common Stock and Warrants

Common Stock

At September 30, 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 20,000,000 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 nine months ended September 30, 2020, the Company granted options to purchase an aggregate 3,565,570 shares of the Company’s common stock to employees and consultants. See “Note 5. Stock Options” for further discussion.

Warrants

The following table summarizes information about warrants outstanding at September 30, 2020 and December 31, 2019:

		Shares of Common Stock Issuable from Warrants Outstanding as of				Weighted
		September 30,		December 31,		Average
Description		2020		2019		Exercise Price		Expiration
	Series D		-		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		12,296,912		13,106,912