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Convertible Preferred Stock and Stock Warrants
12 Months Ended
Dec. 31, 2015
Warrants and Rights Note Disclosure [Abstract]  
Convertible Preferred Stock and Stock Warrants
Convertible Preferred Stock and Stock Warrants
In August 2009, the Company sold convertible preferred stock with detachable warrants to purchase shares of the Company’s common stock. In February 2011, the Company exercised its contractual right to mandatorily convert all outstanding shares of convertible preferred stock into shares of common stock. Currently, the Company has no issued or outstanding shares of preferred stock.
During the years ended December 31, 2014 and 2013, warrants were exercised to purchase 1,277,250 and 267,000 shares, respectively, of the Company’s common stock at $1.21 per share generating cash proceeds of $1.5 million and $0.3 million, respectively. The Company no longer has any outstanding warrants.