STOCKHOLDERS' EQUITY

12 Months Ended

Dec. 31, 2019

NOTE 16 - STOCKHOLDERS' EQUITY

Issuance of Common Stock

On March 5, 2019, pursuant to the 2019 Transaction Agreement, as (i) partial consideration for the satisfaction in full of the Second Lien Term Loan as discussed in Note 11 - Long-Term Debt and (ii) consideration for the amendment of the terms of the Series C Preferred Stock and the Series D Preferred Stock as discussed in Note 15 - Preferred Stock, the Company issued an aggregate of 17,641,638 shares of the Company’s common stock, par value 0.0001 per share.

Warrants

The following table provides a summary of warrant activity as of December 31, 2019 and 2018:



	Warrants		Weighted- Average Exercise Price
Outstanding at Outstanding at January 1, 2018	11,882,800		$	3.34
Exercised	(3,975,957	)	2.21
Forfeited or expired	(2,889,514	)	3.35
Outstanding at Outstanding at January 1, 2019	5,017,329		3.83
Forfeited or expired	(2,263,267	)	2.81
Outstanding at December 31, 2019	2,754,062		$	4.67

The outstanding warrants at December 31, 2019 will expire as follows:



Year	Warrants
2020	174,642
2021	—
2022	2,579,420
	2,754,062

Common Stock Repurchase

In March 2018, the Company entered into a share-repurchase agreement (the “SRA”) with an investment brokerage company (“Broker”) to repurchase $1.0 million of the Company’s common stock as part of the Share Repurchase Plan (the “Plan”). Under the terms of the SRA, the Company paid cash directly to the Broker and received delivery of shares of the Company’s common stock. All of the shares acquired by the Company under the SRA are recorded as treasury stock. For the nine months ended December 31, 2018 the Company purchased 253,598 shares of the Company’s common stock for approximately $1.0 million.