Note 6

SALES OF COMMON STOCK

In November 2012, the Company filed the required documents and became eligible to use an at-the-market common equity sales program, or ATM, for the sale of shares of common stock up to an aggregate offering price of $20,000,000. These shares may be offered, from time to time at market prices under the Company’s 2012 shelf registration statement. During the quarter ended September 30, 2013, the Company sold 952,306 shares under the ATM at an average sales price of approximately $3.07 per share resulting in proceeds, net of expenses, of approximately $2.8 million. In addition, subsequent to September 30, 2013, the Company sold additional shares under the ATM (see Note 9).

On February 8, 2012, the Company amended its shelf registration statement, originally filed on January 26, 2012, with the SEC, under which the Company may offer shares of its common stock and preferred stock, various series of debt securities and/or warrants to purchase any of such securities, either individually or in units, in one or more offerings, up to a total dollar amount of $100,000,000. Such registration statement, as amended, became effective as of February 9, 2012.

On January 11, 2012, the Company raised gross proceeds of approximately $23.7 million through the sale of 4,989,275 shares of its common stock in a publicly-marketed offering. These shares were offered pursuant to the Company’s 2011 shelf registration statement, as amended effective January 5, 2012 pursuant to Rule 462(b) to increase the dollar amount of securities available for sale, filed with the SEC under which the Company could offer shares of its common stock and preferred stock, various series of debt securities and/or warrants to purchase any of such securities, either individually or in units, in one or more offerings, up to a total dollar amount of $63,950,000. Such registration statement became effective as of January 19, 2011. In connection with this offering, the Company paid commissions and other offering-related costs of approximately $1.6 million.

There are no more securities available under the Company’s 2011 shelf registration statement.