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Re: None

Wednesday, 04/12/2017 6:06:48 PM

Wednesday, April 12, 2017 6:06:48 PM

Post# of 28488
Does anyone know how many diluted shares there are as a result of the recent S 1?

Including warrants and options, I calculate at least 80 million. Is that right?

NASDAQ listing requirements include, among other things, a stock price threshold. As a result, prior to effectiveness, we may need to take necessary steps to meet NASDAQ listing requirements, including but not limited to a reverse split of our common stock .


(1) The common stock to be outstanding before and after this offering is based on 31,809,839 shares outstanding as of April 7, 2017, and excludes the following as of such date:



? 7,814,250 shares issuable upon exercise of outstanding options with a weighted average exercise price of $0.37;

? 656,250 shares remaining for issuance pursuant to 2005 Equity Incentive Plan;

? 292,500 shares remaining for issuance pursuant to 2013 Equity Incentive Plan;

? 977,000 shares remaining for issuance pursuant to 2015 Nonqualified Stock Option Plan;

? 24,449,660 shares issuable upon exercise of outstanding warrants with a weighted average exercise price of $0.40;

? 26,192,288 shares issuable upon the conversion of outstanding convertible notes (including convertible debentures); and

? shares of common stock underlying the warrants to be issued to the underwriters in connection with this offeri

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