Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

Stockholders' Equity
6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Stockholders' Equity

Note 3 – Stockholders’ equity


Common Stock — The Company has authorized up to 800,000,000 shares of common stock, $0.001 par value per share, and had 726,531,530 shares issued and outstanding as of June 30, 2017.


On April 20, 2017, the Company closed on proceeds of $3,000,000 in a private placement offering of 12,500,000 shares of the Company’s common stock at a purchase price of $0.24 per share to three accredited investors, which included Chairman Dr. Raymond F. Schinazi and OPKO Health, Inc., of which the Company’s director Dr. Phillip Frost is Chairman and Chief Executive Officer.


Shares of common stock authorized for future issuance as follows as of June 30, 2017 (in thousands):


    As of
June 30, 2017
Stock options issued and outstanding     23,051  
Authorized for future option grants     49,668  
Warrants outstanding     6,275  
Total     78,994  


The common stock authorized for future option grants was not reserved by the Company. The Company currently does not have enough common stock authorized to issue all the options authorized by the Company for future grants.