Quarterly report pursuant to Section 13 or 15(d)

Stockholders' equity

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Stockholders' equity
9 Months Ended
Sep. 30, 2015
Stockholders' equity [Abstract]  
Stockholders' equity

Note 5. Stockholders' equity:

 

In April 2014, the Company completed a public offering of securities consisting of 8,335,000 shares of common stock at an offering price of $2.40 per share, generating approximately $20 million in total proceeds. Fees and other expenses totaled approximately $1,543,000, including a placement fee of 6.5%.

 

During the nine months ended September 30, 2014, warrants from a May 2013 public offering, were exercised to purchase 1,161,570 shares of common at $1.36 per share stock resulting in total proceeds of approximately $1,580,000.

 

During the nine months ended September 30, 2014, incentive stock options were exercised to purchase a total of 39,079 shares at an average of $2.09 per share of common stock resulting in total proceeds of approximately $82,000 and with a total intrinsic value when exercised of approximately $14,000.