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Common Stock
12 Months Ended
Dec. 31, 2015
Equity [Abstract]  
Common Stock

NOTE 8.  COMMON STOCK

 

The Company’s common stock is duly authorized, full paid, and non-assessable.

 

On March 11, 2015, an executive officer exercised a warrant to purchase 227,894 shares at the price of $1.52 per share (see Note 12).

 

The Company concluded a subscription rights offering on June 6, 2014.  Each subscription right entitled its holder to purchase one share of common stock of the Company for $1.60 per share. Subscription rights to purchase 1,787,204 shares of common stock were exercised for $2,860, of which $2,000 was paid by the conversion of a loan owed by the Company to RES (see Note 5).  The Company incurred issuance costs of $218.