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Common Stock, Options and Warrants
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Common Stock, Options and Warrants

The Company has authorized 150,000,000 shares of its common stock for issuance, of which 78,696,461 were issued and outstanding at each of September 30, 2018 and December 31, 2017.

 

During the nine months ended September 30, 2018 and 2017, there were no warrants issued by the Company. As of September 30, 2018, the Company has one warrant issued and outstanding, which warrant was issued in December 2017 to Preprogen’s designee to purchase up to 15.0 million shares of the Company’s common stock, at an exercise price of $0.05 per share. The warrant was exercisable immediately upon issuance, and expires on December 14, 2022.

  

2007 Incentive and Non-Qualified Stock Option Plan.  The fair value of options granted under the Company’s 2007 Incentive and Non-Qualified Stock Option Plan is recorded as compensation expense over the vesting period, or, for performance based awards, the expected service term. The Company did not issue any options during the nine months ended September 30, 2018 or 2017.