Annual report pursuant to Section 13 and 15(d)

Stockholders' Equity

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

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