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Subsequent Event
12 Months Ended
Dec. 31, 2014
Subsequent Events [Abstract]  
Subsequent Event

14. SUBSEQUENT EVENT

 

Securities Purchase Agreement

 

On March 6, 2015 the Company completed a registered direct offering for gross proceeds of $6,000. Net proceeds to the Company, after deducting agent’s fees and estimated offering expenses, were $5,400. Under the Securities Purchase Agreement, the Company agreed to sell 4,000,000 units at a price of $1.50 per unit. Each unit entitled the purchaser to receive one share of common stock of the Company and a warrant to purchase 0.55 shares of common stock at an exercise price of $2.00 per whole share. The warrants will be exercisable for a period of 5 years beginning on the six-month anniversary of original issuance and ending on a date that is five years after the first date of exercisability.