Common Stock and Warrants

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Common Stock and Warrants

Note 4. Common Stock and Warrants

Common Stock

At March 31, 2021, 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 16,593,266 shares reserved for future issuances 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”) and stockholders on June 20, 2013 and ratified by the Company’s stockholders on November 15, 2013, that provides for the grant of stock options to employees, directors, officers, and consultants. See “Note 7. Stock Options” for further discussion.

During the three months ended March 31, 2021 and 2020, the Company did not have any common stock transactions.

Warrants

The Company has issued warrants to purchase common stock at various exercise prices in connection with loan agreements and private placements. The following table summarizes information about warrants outstanding at March 31, 2021 and December 31, 2020:

	Shares of Common Stock Issuable from Warrants Outstanding as of				Weighted
	March 31,		December 31,		Average
Description	2021		2020		Exercise Price		Expiration
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		12,296,912