Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
3 Months Ended
Mar. 31, 2018
Equity [Abstract]  
Stockholders' Equity

NOTE 5 - STOCKHOLDERS’ EQUITY

 

Series B Convertible Preferred Stock

 

As of March 31, 2018, 1 share of Series B Convertible Preferred Stock was outstanding.

 

Series E Preferred Stock

 

During the three months ended March 31, 2018, 3,570 shares of the Series E Convertible Preferred Stock had been converted to the Company’s Common Stock and 1,942 shares of the Series E Convertible Preferred Stock was outstanding as of March 31, 2018.

 

Common Stock

 

During the three months ended March 31, 2018, the Company issued 2,619,485 shares of Common Stock to Note Holders in connection with debt conversions, 218,400 shares of Common Stock were issued to Board members for their services, 3,569,543 shares of Common Stock with respect to the conversion of Series E Convertible Preferred Stock, 17,731 shares of Common Stock in connection with the exercise of a warrant, 250,000 shares of Common Stock issued pursuant to a patent purchase and 175,000 shares of Common Stock issued to consultants.

 

Common Stock Warrants

 

As of March 31, 2018, the Company had warrants outstanding to purchase 728,764 shares of Common Stock with a weighted average remaining life of 3.8 years. A summary of the status of the Company’s outstanding stock warrants and changes during the period then ended is as follows:

 

    Number of Warrants     Weighted Average
Exercise Price
   

Weighted Average Remaining

Contractual Life
(in years)

 
Outstanding as of December 31, 2017     773,966     $ 5.99       4.1  
Expired     (1,202 )     15.60       -  
Exercised     (44,000 )     1.20       -  
Outstanding as of March 31, 2018     728,764     $ 6.26       3.8  
Warrants exercisable as of March 31, 2018     728,764     $ 6.26       3.8  

 

Common Stock Options

 

A summary of the stock options as of March 31, 2018 and changes during the period are presented below:

 

    Number of Shares     Weighted Average
Exercise Price
    Weighted Average
Remaining
Contractual Life
(in years)
 
Outstanding as of December 31, 2017     448,771     $ 15.50       6.23  
Outstanding as of March 31, 2018     448,771     $ 15.50       5.98  
Options vested and expected to vest as of March 31, 2018     448,771     $ 15.50       5.98  
Options vested and exercisable as of March 31, 2018     435,855     $ 15.59       5.92