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

Stockholders' Deficit

v2.4.0.6
Stockholders' Deficit
 12 Months Ended
Dec. 31, 2011
Stockholders' Deficit [Abstract]  
Stockholders' Deficit

11. Stockholders' Deficit

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.

As of December 31, 2011, 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, 2011		  

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   

03/15/2011

    03/15/2017      1.57         6,000   
        

 

 

  
           12,980   
        

 

 

  

 

Shares Reserved for Future Issuance

As of December 31, 2011, shares of common stock reserved by us for future issuance consisted of the following (in thousands):

 

Stock options outstanding

      5,414   

Restricted stock awards

      181   

Future stock option grants or stock awards

      2,578   

Shares issuable upon the exercise of warrants

      12,980   
  

 

 

  
     21,153