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COMMON STOCK
3 Months Ended
Mar. 31, 2014
COMMON STOCK  
COMMON STOCK

9.                    COMMON STOCK

 

The Company has authorized 200,000,000 shares of Common Stock, $0.00001 par value per share, of which 79,021,039, shares were issued and outstanding as of March 31, 2014 and 78,773,736 shares were issued and outstanding as of December 31, 2013.

 

During the three months ended March 31, 2014, the Company issued an aggregate of 52,625 shares of Common Stock upon the exercise of stock options and received cash proceeds of approximately $104,000.

 

During the three months ended March 31, 2014, the Company issued an aggregate of 39,900 shares of Common Stock upon the exercise of warrants, including warrants to purchase 62,620 shares of Common Stock exercised through cashless exercise provisions resulting in the issuance of 27,610 shares of Common Stock and warrants to purchase 12,290 shares of Common Stock exercised for cash, providing net cash proceeds of approximately $12,000.

 

During the three months ended March 31, 2014, the Company issued an aggregate of 23,556 shares of Common Stock with a fair value of approximately $41,000 to the Company’s 401(k) plan as matching contributions.

 

During the three months ended March 31, 2014, the Company issued 108,848 and 22,374 shares of Common Stock to Michael J. Astrue, Interim Chief Executive Officer, and Gregory D. Perry, Interim Chief Financial Officer, respectively, in lieu of executive cash bonuses. Such shares had an aggregate fair value of approximately $282,000.