Stockholders' Equity and Redeemable Convertible Preferred Stock

3 Months Ended

Mar. 31, 2017

Stockholders' Equity Note [Abstract]

Stockholders' Equity and Redeemable Convertible Preferred Stock

Note 7. Stockholders’ Equity and Redeemable Convertible Preferred Stock

Preferred Stock

The Company had designated separate series of its capital stock as of March 31, 2017 and December 31, 2016 as summarized below:

	Number of Shares Issued
	and Outstanding as of
	March 31, 2017		December 31, 2016		Par Value		Conversion Ratio
Series "A"		-		-	$	0.0001	N/A
Series "C"		-		-		0.0001	0.05:1
Series “D"		4,725		4,725		0.0001	0.53:1
Series “D-1"		834		834		0.0001	0.53:1
Series “F-1"		-		-		0.0001	0.05:1
Series “H"		-		-		0.0001	0.53:1
Series “I”		-		-		0.0001	1.05:1
Series “J”		-		-		0.0001	0.05:1
Series “K”		-		-		0.0001	263.16:1

Warrants

A summary of warrant activity for the three months ended March 31, 2017 is presented below:

	Warrants		Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2016		1,250,311	$	9.21	$	-		3.91
Outstanding as of March 31, 2017		1,250,311	$	9.21				3.67
Exercisable as of March 31, 2017		1,250,311	$	9.21	$	-		3.67

Stock Options

Also approved by the Company’s Stockholders on February 26, 2016 was an amendment to the Company’s 2014 Equity Incentive Plan, which increased the number of shares of common stock authorized to be issued pursuant to the 2014 Plan from 4,161,892 to 8,250,000 prior to effectuation of the 1:19 reverse stock split. As a result of the split, the total share authorization under the plan was reduced to 434,210 shares.

A summary of option activity under the Company’s employee stock option plan for the three months ended March 31, 2017 is presented below:

	Number of Shares		Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2016		310,091	$	82.25	$	-		4.1
Employee options granted		-		-		-		-
Outstanding as of March 31, 2017		310,091	$	82.25	$	-		3.9
Options vested and expected to vest		310,091	$	82.25	$	-		3.9
Options vested and exercisable		302,199	$	84.35	$	-		3.8

A summary of option activity under the Company’s non-employee stock option plan for the three months ended March 31, 2017 is presented below:

	Number of Shares		Weighted Average Exercise Price		Total Intrinsic Value		Weighted Average Remaining Contractual Life (in years)
Outstanding as of December 31, 2016		2,893	$	98.07	$	-		4.4
Non-employee options granted		-		-		-		-
Outstanding as of March 31, 2017		2,893	$	98.07	$	-		4.2
Options vested and expected to vest		2,893	$	98.07	$	-		4.2
Options vested and exercisable		2,893	$	98.07	$	-		4.2

Stock-based compensation to employees and non-employees was approximately $4,000 and $131,000 for the three months ended March 31, 2017 and 2016, respectively. Unamortized stock-based compensation expense amounted to approximately $0 at March 31, 2017.

Stock-based Compensation

Stock-based compensation for the three months ended March 31, 2017 and 2016 was comprised of the following ($ in thousands):

	For the Three Months Ended March 31,
	2017		2016
Employee stock option awards	$	4	$	1
Non-employee restricted stock awards		-		130
Total compensation expense	$	4	$	131