2.4.0.8126 - Disclosure - Restricted Cashtruefalsefalse1falsefalsefalseeol_PE10315---13S-1-0008_STD_90_20130331_0http://www.sec.gov/CIK0001069308duration2013-01-01T00:00:002013-03-31T00:00:001false4opxa_DisclosureOfRestrictedCashAndCashEquivalentsTextBlockopxa_falsenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div>
<p style="MARGIN-TOP: 18px; MARGIN-BOTTOM: 0px"><font style="FONT-FAMILY: Times New Roman" size="2"><b>Note 4. Restricted
Cash</b></font></p>
<p style="MARGIN-TOP: 6px; TEXT-INDENT: 4%; MARGIN-BOTTOM: 0px">
<font style="FONT-FAMILY: Times New Roman" size="2">Pursuant to the
July 2012 Note financing, $1.0 million of the gross proceeds were
initially required to be maintained in a segregated account and
subject to a deposit control agreement while the July 2012 Notes
are outstanding. Pursuant to a waiver executed by the holders of in
excess of two-thirds (66-2/3%) of the principal amount of the
outstanding July 2012 Notes and accepted by Opexa, the amount of
the cash subject to the deposit control agreement was reduced to
$500,000 on January 29, 2013. In exchange for such waiver, the
Company issued warrants to the holders of the July 2012 Notes to
purchase an aggregate of 187,500 shares of the Company’s
common stock (see Note 11). As of March 31, 2013, the $500,000
balance in the controlled account is reported as restricted cash in
the consolidated balance sheets.</font></p>
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