Capital Stock

9 Months Ended

Sep. 30, 2019

Equity [Abstract]

Capital Stock

6. Capital Stock

As of September 30, 2019, the Company is authorized to issue 120,000,000 shares of common stock, $0.001 par value per share, and 20,000,000 shares of preferred stock, $0.001 par value per share.

Capital Transactions

On January 21, 2019, the Company issued 599,222 shares of common stock upon conversion of a portion of the Company’s outstanding indebtedness with a principal amount of $1,000,000 and accrued and unpaid interest on the principal of $49,000 (See Note 7 for details on the conversion).  In accordance with the Series G Certificate of Designation, the issuance of Common Shares at the conversion price of $1.75 per share triggered further adjustment in the conversion price and conversion ratio of the Series G Preferred Stock from $9.92 per share and 0.1008 shares to $9.70 per share and 0.1031 shares, respectively. The deemed dividend as a result of the down-round adjustment was trivial.

Reserved Shares

At September 30, 2019, the Company had shares of common stock reserved for future issuance as follows:

Options outstanding	5,427,557
Shares available for future grant under the 2010 Equity Participation Plan	4,020,295
Convertible preferred stock	6,132,278
Warrants	3,951,052
Total	19,531,182