Annual report pursuant to Section 13 and 15(d)

Common Stock

Common Stock
12 Months Ended
Dec. 31, 2016
Equity [Abstract]  
Common Stock

8. Common Stock


As of December 31, 2016, the Company had 800,000,000 shares of authorized common stock, $0.001 par value per share, and had 714,031,255 shares issued and outstanding.


The holders of common stock are entitled to one vote for each share of common stock held.


On March 15, 2016, the Company accepted subscription agreements representing investor commitments totaling $5,004,370 in a private placement offering to investors who participated in the March 2015 private placement on a pro-rata basis to their participation in the March 2015 private placement of  9,812,491 shares of the Company’s common stock at a purchase price of $0.51 per share. The purchasers included 7 members of the Company’s board of directors including Dr. Raymond F. Schinazi and Dr. Phil Frost.