14. Capital Stock

As of December 31, 2015, the Company had authorized 70,000,000 shares of common stock, $0.001 par value per share, of which 24,377,573 shares were issued and outstanding. Additionally, as of December 31, 2015, the Company had authorized 5,000,000 shares of preferred stock, $0.001 par value per share, of which zero were issued and outstanding.

As of June 4, 2015, the Company amended its certificate of incorporation to decrease the authorized capital stock of the Company from 305,000,000 to 75,000,000 shares, which included 70,000,000 shares of common stock, $0.001 par value per share and 5,000,000 shares of preferred stock, $0.001 par value per share.

Reserved for Future Issuance

The Company has reserved for future issuances the following number of shares of common stock:


	Year Ended December 31,
	2015	2014

Stock-based compensation awards	4,132,271	4,403,266
Warrants to purchase common stock	92,892	93,040
Settlement of short-term debt (Note 11)	248,093	248,093
Total	4,473,256	4,744,399

In addition, Second Installment Shares issuable to former Bioceros shareholders with a value of $5,000 to be issued in March 2016 are reserved for future issuance as of December 31, 2015 (Note 5).

Convertible Preferred Stock

In April 2014, Epirus closed an initial Series B Preferred financing with an issuance of 24,409,444 shares for aggregate proceeds of approximately $31,000. Upon the closing of such financing, the $5,000 principal amount of convertible notes issued in March 2014, plus accrued and unpaid interest of $13, were converted into 3,947,363 shares of Series B Preferred (Note 11).

Upon the closing of the Merger, all outstanding shares of preferred stock were exchanged for shares of Public Epirus Common Stock as part of the Merger at the Exchange Ratio. See Note 4, “Merger,” for additional details. As of December 31, 2015, the Company did not have any convertible preferred stock issued or outstanding.