Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity

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Stockholders' Equity
9 Months Ended
Sep. 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 728,238,507 shares issued and outstanding as of September 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 September 30, 2017 (in thousands):

 

    As of 
September 30, 2017
 
Stock options issued and outstanding     21,344  
Authorized for future option grants     49,668  
Warrants outstanding     6,275  
Total     77,287  

 

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.