10. Common stock

The common stockholders are entitled to a distribution of all remaining assets (which may be more or less than the original investment), on a proportionate basis, in the event of the dissolution or winding up of the Company, after payment of all liabilities of the Company and the liquidation preference of all series of preferred stock then outstanding. The common stock has no conversion or redemption rights. The common stock is entitled to one vote per share at all general meetings of the Company. The common stockholders are entitled to share in all dividends and distributions, which may be declared by the Company, on a proportionate basis with all other classes and series of stock outstanding.

During the year ended December 31, 2013, the Company issued 1,378,631 shares of common stock as follows:


Restricted stock grants			860,739
Employee option exercises			304,769
Warrant exercises			213,123


Total common stock issued			1,378,631

On December 14, 2012 the Company filed an amended and restated certificate of incorporation increasing the number of shares the Company authorized to issue to 250,000,000 common shares and 10,000,000 preferred shares. During the year ended December 31, 2012, the Company issued 1,894,452 shares of common stock as follows:


Inter-Atlantic warrant exercise			917,602
Employee option exercises			488,513
Consideration shares upon acquisition of BPS			488,337


Total common stock issued			1,894,452

During the year ended December 31, 2011 the Company issued 5,695,909 shares of common stock as follows:


April 2011 debt conversion(1)			4,474,776
Restricted stock grant to Philip D. Beck(2)			915,000
Exercise of options and warrants			296,133
Other			10,000


Total common stock issued			5,695,909

(1): In April 2011, the convertible debt holders converted the outstanding principal amount of $9.0 million under convertible notes issued in 2007 and 2008 into an aggregate of 4,049,776 shares of common stock. In addition, the Company issued 127,318 shares of common stock valued at $0.3 million in lieu of cash payments for accrued interest and 297,682 shares of common stock valued at $0.6 million as a prepayment fee negotiated at the time of conversion. The shares issued for the accrued interest and the prepayment fee were valued at the average closing price of the Company's common stock on AIM under the symbol "PPTR" during the 10 trading day period ending two days prior to the conversion.
(2): Please Refer to Note 2, Stock-based compensation expense and assumptions, for further information regarding the restricted stock grant to Philip D. Beck.