Quarterly report pursuant to Section 13 or 15(d)

Stockholders' equity

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Stockholders' equity
6 Months Ended
Jun. 30, 2019
Equity [Abstract]  
Stockholders' equity

Note 9.  Stockholders’ equity:

 

Preferred Stock:

 

During the six months ended June 30, 2019, 8,001 shares of the Company’s Series B preferred stock were converted into 8,001 shares of the Company’s common stock.

 

At-the-Market Equity Offering:

 

The Company entered into a Sales Agreement with H.C. Wainwright dated May 24, 2019, pursuant to which the Company may, from time to time, sell up to $100 million in shares of the Company’s common stock through H. C. Wainwright, as the Company’s sales agent and/or principal, in the ATM Offering. All sales of the shares have been made pursuant to an effective shelf registration statement on Form S-3 filed with the SEC. The Company paid H.C. Wainwright a commission of approximately 3.0% of the aggregate gross proceeds the Company received from all sales of the Company's common stock under the Sales Agreement. The Company received net proceeds on sales of 6,028,301 shares of common stock under the Sales Agreement of approximately $18.9 million at a weighted average price of $3.26 (excluding commissions) during the six months ended June 30, 2019.

 

Restricted Stock:

 

During the six months ended June 30, 2019, 106,251 shares of restricted common stock related to fully vested shares of restricted stock were issued under the Company’s 2017 Equity Incentive Plan. The fully vested shares were issued to two former officers who separated from the Company in February 2019 and a former director who resigned in October of 2018 totaling 93,751 shares. The remaining 12,500 fully vested shares were issued to a consultant.