Subsequent Events

6 Months Ended

Jun. 30, 2018

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Glowpoint, Inc. Stock Repurchase Program

On July 21, 2018, the Company’s Board of Directors authorized a stock repurchase program (the “Stock Repurchase Program”) granting the Company authority to repurchase up to $750,000 of the Company’s common stock. Under the Company’s Stock Repurchase Program, repurchases of common stock may be funded using the Company’s existing cash balance and/or future cash flows through repurchases made in the open market, in privately negotiated transactions, or pursuant to other means determined by the Company, in each case as permitted by securities laws and other legal requirements. The number of shares purchased under the Stock Repurchase Program and the timing of any purchases may be based on many factors, including the level of the Company’s available cash, general business conditions, and the pricing of the common stock. The Stock Repurchase Program does not obligate the Company to acquire a specific number of shares and may be suspended, modified, or terminated at any time.

Conversions of Series C Preferred Stock

In July 2018, 500 shares of Series C Preferred Stock were converted to 1,666,666 shares of the Company’s common stock, leaving 775 shares of Series C Preferred Stock issued and outstanding as of the filing of this Report.

NYSE American Deficiency Letter

As previously disclosed, on July 5, 2018, we received a letter (the “Deficiency Letter”) from the NYSE American stating that the Company was not in compliance with the continued listing standards as set forth in Section 1003(f)(v) of the NYSE American Company Guide. See “Part II. Item 1A. Risk Factors” below for further information regarding the Deficiency Letter.