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Subsequent Event
12 Months Ended
Dec. 31, 2016
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events

Reverse Stock Split

On March 1, 2017, an amendment to the Company's Restated Certificate of Incorporation, as amended, to effect a reverse stock split of the Company's outstanding shares of common stock at a ratio within a range from 1:3 to 1:10, with the final ratio to be determined by the Board, in its sole discretion, was approved by stockholders at a Special Meeting of Stockholders.

The reverse stock split will be realized simultaneously for all outstanding common stock and the ratio determined by the Board will be the same for all outstanding shares of common stock. The reverse stock split will affect all holders of shares of the Company's common stock uniformly and each stockholder will hold the same percentage of the Company's common stock outstanding immediately following the reverse stock split as that stockholder held immediately prior to the reverse stock split, except for adjustments that may result from the treatment of fractional shares.

The amendment will not reduce the number of authorized shares of common stock (which will remain at 150,000,000) or preferred stock (which will remain at 5,000,000) or change the par values of our common stock (which will remain at $0.001 per share) or preferred stock (which will remain at $0.001 per share). As a result, on the effective date of the reverse stock split, the stated capital on the Company's balance sheet attributable to the common stock will be reduced to between and including one-third to one-tenth of its present amount, as the case may be based on the ratio for the reverse stock split as determined by the Board, and the additional paid-in capital account shall be credited with the amount by which the stated capital is reduced. The per share net loss and net book value of the Company's common stock will be retroactively increased for each period because there will be fewer shares of our common stock outstanding.

2017 Series A Convertible Preferred Stock Offering

On March 7, 2017, the Company entered into a Securities Purchase Agreement (the Purchase Agreement) with certain of its existing investors pursuant to which the Company agreed to sell a total of 8,000 units (the Units) for a purchase price of $1,000 per Unit, with each Unit consisting of (i) one share of the Company's Series A Convertible Preferred Stock (the Series A Preferred Stock), with an initial stated value of $1,000 and is convertible into shares of the Company's common stock, with a conversion price of $0.7757 (the Conversion Shares), and (ii) a warrant (the Series A Warrants) to purchase 1,289 shares of our common stock. The Offering closed on March 8, 2017. Each Series A Warrant has an exercise price of $0.84591 per share and is exercisable commencing six months after the date of issuance through expiry, or five years from the date of issuance. The exercise price of the Series A Warrants is subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or similar events.

The Company expects the net proceeds from the 2017 Series A Convertible Preferred Stock offering, after deducting estimated offering expenses, to be approximately $7.65 million.