NOTE 8 Warrants
The Company has the following outstanding warrants to purchase common stock at December 31, 2013:
Reason | Number of Shares | Price Per Share |
Issue Date | Expiration Date | ||||||||
Common stock financing | 57,776 | $ | 1.80 | May 2009 | May 2014 | |||||||
Senior convertible note financing (fully converted in 2011) (a) | 976,000 | $ | 1.25 | Nov 2010 | May 2016 | |||||||
1,033,776 |
The Company had the following outstanding warrants to purchase common stock at December 31, 2012:
Reason | Number of Shares | Price Per Share |
Issue Date | Expiration Date | ||||||||
Common stock financing | 57,776 | $ | 1.80 | May 2009 | May 2014 | |||||||
Senior convertible note financing (fully converted in 2011) (a) | 550,000 | $ | 2.44 | Nov 2010 | May 2016 | |||||||
607,776 |
(a) | In conjunction with a settlement agreement, the warrant was amended on December 31, 2013 to reset the conversion price under the anti-dilution terms of the warrant from the original $2.44 per share to $1.25 per share, and to increase the common shares issuable upon conversion from 550,000 shares to 976,000 shares (see Legal Matters within :NOTE 6 Commitments and Contingencies for more information). |