|
STOCKHOLDERS' EQUITY
|
9 Months Ended |
|---|---|
|
Sep. 30, 2014
|
|
| STOCKHOLDERS' EQUITY | |
| STOCKHOLDERS' EQUITY |
NOTE 6 STOCKHOLDERS EQUITY
Common Stock Issued in Option Exercise In January 2014, the Company issued 5,000 shares of common stock as the result of an option exercise. The Company received the exercise price of $4.50 per share for an aggregate amount of $22,500.
Also, in January 2014, the Company issued 20,361 shares of common stock as the result of the cashless exercise of 20,000 stock options with an exercise price of $2.00 and 5,000 stock options with an exercise price of $5.50. The Company withheld 4,639 shares, valued at $67,500 or $14.55 per share.
In April 2014, the Company issued 43,632 shares of common stock as the result of the cashless exercise of 42,500 stock options with an exercise price of $2.00 and 10,000 stock options with an exercise price of $4.50. The Company withheld 8,868 shares, valued at $130,000 or $14.66 per share.
In June 2014, the Company issued 307 shares of common stock as the result of the cashless exercise of 500 stock options with an exercise price of $7.50. The Company withheld 193 shares, valued at $3,750 or $19.39 per share.
In July 2014, the Company issued 65,000 shares of common stock as the result of option exercise. The options exercised included 25,000 at $4.50 per share and 40,000 at $2.00 per share. The company received the aggregate exercise price of $192,500.
Also in July 2014, the Company issued 604 shares of common stock as the result of the cashless exercise of 1,000 stock options with an exercise price of $7.50 per share. The Company withheld 396 shares, valued at $7,500 or $18.96 per share.
Common Stock Issued in Private Placement Offering In June 2014, the Company closed on an offering of 2,000,001 shares of common stock at $15.00 per share for gross proceeds of $30,000,015. The shares were sold without registration under the Securities Act by reason of the exemption from the registration afforded by the provisions of Section 4(a)(2) and/or Section 4(a)(5) of the Securities Act of 1933, as amended, and Rule 506 promulgated thereunder for sales of unregistered securities. Offering costs totaled $1,473,739. The Company has filed a registration statement with the SEC to register such shares. Such registration statement was declared effective September 3, 2014.
Common Stock Issued for services In July 2014, the Company issued 5,000 shares of restricted common stock for services. The stock was valued at $17.41, or $87,050, and is included in our general and administrative expense in the accompanying financial statements.
Common Stock Issued as consideration In September 2014, the Company issued 8,783 shares of restricted common stock as consideration in a property acquisition. The stock was valued at $14.85, or $130,428, and is included in our properties subject to amortization. |