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Subsequent Events
6 Months Ended
Jun. 30, 2015
Notes to Financial Statements  
Note 8. Subsequent Events

On July 1, 2015, the Company appointed Dr. Richard Simman to its Scientific Advisory Board and issued Dr. Simman an option to purchase 7,500 shares of the Company’s common stock at a price of $1.34 per share, the closing price of the Company’s common stock as quoted on the OTCQB on June 30, 2015. The option may be exercised on a “cashless basis” using the formula contained therein and, subject to Dr. Simman’s continued service with the Company. The shares underlying the option vest on December 31, 2015.

 

Subsequent to the period ended June 30, 2015, the Company issued to Dr. Jorg Gerlach 196,812 shares of its common stock upon the cashless exercise of 240,000 vested shares included in the Series A Warrant issued to Dr. Gerlach pursuant to the asset purchase agreement entered into between the Company and Dr. Gerlach on July 12, 2013.