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Plan of Liquidation and Dissolution
9 Months Ended
Sep. 30, 2020
Plan of Liquidation and Dissolution  
Plan of Liquidation and Dissolution

(11)        Plan of Liquidation and Dissolution

On February 4, 2016, the Company’s Board of Directors adopted the Plan of Liquidation and Dissolution (the “Plan”), pursuant to which the Company would, subject to obtaining requisite stockholder approval, be liquidated and dissolved in accordance with Sections 280 and 281 (a) of the General Corporation Law of the State of Delaware. Following each subsequent periodic assessment, the Company’s Board of Directors postponed seeking stockholder approval of the Plan. On November 9, 2020, the Company's Board of Directors withdrew and terminated the Plan as a result of the completion of the Rights Offering. See Note 15.