(5) Stockholders’ Equity
The following table summarizes the Company’s share activity for the nine months ended September 30, 2013:
|
|
|
Convertible Preferred Shares |
|
Common Shares |
|
|
Shares outstanding January 1, 2013 |
|
8,804 |
|
20,023,949 |
|
|
|
|
|
|
|
|
|
Conversion of Series A Preferred Stock into common stock |
|
(8,804 |
) |
8,804,000 |
(1) |
|
Common stock issued as dividends on Series A Preferred Stock |
|
— |
|
87,821 |
(1) |
|
Restricted stock awards issued, net of forfeitures |
|
— |
|
132,598 |
(2) |
|
Common stock issued pursuant to warrant exercises |
|
— |
|
2,210,397 |
(1) |
|
Common stock issued pursuant to option exercises |
|
— |
|
112,847 |
|
|
Treasury shares |
|
— |
|
(42,433 |
)(1) |
|
Shares outstanding September 30, 2013 |
|
— |
|
31,329,179 |
|
(1) Refer to footnote 4(b) for details
(2) Refer to footnote 6(c) for details
(a) Warrants
As of September 30, 2013, the following warrants to purchase common stock were outstanding:
|
|
|
Number of
Shares |
|
Exercise Price |
|
Expiration |
|
|
Common stock |
|
10,700,926 |
|
$ |
2.00 |
|
2017 |
|
|
Common stock |
|
106,631 |
|
$ |
2.79 |
|
2017 |
|
|
Common stock |
|
108,659 |
|
$ |
7.45 |
|
2016 |
|
|
|
|
10,916,216 |
|
|
|
|
|
|