| Summarizes the effect of the stock split and conversion of capital stock previously outstanding |
The table below summarizes the effect of the stock split and conversion on our capital stock that was previously outstanding as of December 31, 2013:
|
Series A Preferred Stock outstanding — Pre recapitalization
|
|
800,000
|
|
|
Stock split ratio
|
|
1.75:1
|
|
|
Series A Preferred Stock outstanding — Post recapitalization
|
|
1,400,000
|
|
|
|
|
|
|
|
Common stock outstanding — Pre recapitalization
|
|
|
|
|
Class A Common Stock
|
|
400,000
|
|
|
Class B Common Stock
|
|
3,600,000
|
|
|
|
|
|
|
|
Total
|
|
4,000,000
|
|
|
Stock split ratio
|
|
1.75:1
|
|
|
Common stock outstanding — Post recapitalization
|
|
7,000,000
|
|
|
|
|
|
|
|
| Summary of common stock activity |
|
Balance, December 31, 2013
|
|
7,000,000
|
|
|
Issued pursuant to initial public offering
|
|
2,318,400
|
|
|
Conversion of preferred stock
|
|
1,400,000
|
|
|
Option exercises
|
|
96,250
|
|
|
|
|
|
|
|
Balance, December 31, 2014
|
|
10,814,650
|
|
|
Option exercises
|
|
345,475
|
|
|
Warrant exercises
|
|
15,000
|
|
|
|
|
|
|
|
Balance, December 31, 2015
|
|
11,175,125
|
|
|
|
|
|
|
|