STOCKHOLDERS' EQUITY

6 Months Ended

Jun. 30, 2019

NOTE 6. STOCKHOLDERS' EQUITY

As of June 30, 2019, we are authorized to issue 40.0 million shares of common stock with a par value of $0.0001 per share.

The following table presents the changes in the number of shares outstanding:

	2019
Shares issued:
Balance as of January 1		3,211
Issue of shares on exercises of Series C warrants		51
Issue of shares on exercises of Series D warrants		24
Issue of shares on exercises of Series E warrants		662
Issue of shares on vesting of restricted stock units		278
Issue of shares as consideration for services		243
Issue of shares in private placement		30
Balance as of June 30		4,499

Shares held as treasury stock:
Balance as of January 1		111
Purchase of treasury stock		97
Balance as of June 30		208

Shares outstanding as of June 30		4,291

In the six months ended June 30, 2019, 1.0 million, 0.5 million and 13.2 million of our Series C warrants, Series D warrants and Series E warrants, respectively, were exercised. As of June 30, 2019, 6.9 million, 11.3 million and 54.6 million of our Series C warrants, Series D warrants and Series E warrants, respectively, are outstanding.

In February 2019, we issued 0.2 million shares of common stock as partial consideration for services provided to us related to our acquisition of certain assets from Geokinetics, Inc. (“GEOK”). The shares were valued at $0.5 million. These shares were sold and issued without registration under the Securities Act in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act.

In March 2019, we issued 0.03 million shares of common stock in a private placement. The shares were valued at $0.1 million based on the closing price of our common stock on the date of issuance. These shares were sold and issued without registration under the Securities Act in reliance on the exemptions provided by Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D of the Securities Act.