Post-effective amendment to a registration statement that is not immediately effective upon filing

Stockholders' Equity

v2.4.0.6
Stockholders' Equity
 12 Months Ended
Dec. 31, 2010
Stockholders' Equity [Abstract]  
Stockholders' Equity
 

11. Stockholders' Equity

Common Stock

In December 2009, we completed the sale of 300,000 shares of our common stock to an institutional investor for gross proceeds of approximately $510,000. Net proceeds were approximately $478,000.

In September and October 2009, members of our board of directors exercised options to purchase 659,862 shares of our common stock at prices ranging from $0.79 to $1.40 per share. Net proceeds were approximately $555,000.

In December 2007, we completed the sale of units consisting of 13,300,000 shares of our common stock and five-year warrants to purchase 6,650,000 shares of our common stock to certain institutional investors for gross proceeds of approximately $21.3 million. Net proceeds were approximately $19.9 million. The warrants have an exercise price of $2.00 per share. In January 2008, we filed a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock and shares of common stock underlying the warrants issued in the private placement.

As of December 31, 2010, warrants to purchase shares of common stock consisted of the following (in thousands, except per share price):

 

Date Issued

    Expiration Date      Exercise Price      Outstanding at
December 31, 2010		  

12/17/2007

      12/17/2012       $  2.00         6,650   

12/18/2009

      12/18/2014         2.13         42   

09/27/2010

      09/27/2015         0.87         288   
        

 

 

  
           6,980   
        

 

 

  

Shares Reserved for Future Issuance

As of December 31, 2010, shares of common stock reserved by us for future issuance consisted of the following (in thousands):

 

Stock options outstanding

      4,976   

Restricted stock awards

      139   

Future stock option grants or stock awards

      3,393   

Shares issuable upon the exercise of warrants

      6,980   
  

 

 

  
     15,488