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Subsequent  Event&lt;/font&gt;&lt;/strong&gt;&lt;/div&gt;    &lt;div style="clear:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; FONT-SIZE: 10pt"   align="justify"&gt;&lt;strong&gt;&lt;font style="COLOR: black"&gt;  &amp;#160;&lt;/font&gt;&lt;/strong&gt;&lt;/div&gt;    &lt;div style="clear:both;MARGIN: 0in 0in 0pt; FONT-FAMILY: Times New Roman,serif; TEXT-AUTOSPACE: ideograph-numeric; FONT-SIZE: 10pt"&gt;  &lt;div style="clear:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;LINE-HEIGHT: normal; MARGIN: 0in 0in 0pt"   align="justify"&gt;&lt;font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"&gt;On July  16, 2013, the Company&amp;#8217;s shelf registration statement on Form  S-3 that was filed on July 3, 2013, was declared effective by the  SEC. The registration statement contains two prospectuses (i) a  base prospectus which covers the offer, issuance and sale of up to  a maximum aggregate offering price of $&lt;font style=" FONT-SIZE: 10pt"&gt;50&lt;/font&gt; million of the Company&amp;#8217;s common  stock, warrants or units and (ii) a sales agreement prospectus  covering the offer, issuance and sale by the Company of up to a  maximum aggregate offering price of $15 million of the  Company&amp;#8217;s common stock that may be issued and sold under a  sales agreement with Cantor Fitzgerald &amp;amp; Co. 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