Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
1 Months Ended
Mar. 31, 2014
Subsequent Events

10.  Subsequent Events


The compensation committee approved the right to grant 632,694 options to certain board members, executives and key personnel on March 19, 2014 from the 2014 Equity Incentive Plan.  The options were granted and issued on April 1, 2014 with a closing stock price of $16.62 per share.  In addition key executive officers and employees exercised stock options and were issued common stock of 50,983 shares with stock option prices ranging from $0.60 to $8.70 per share.


On April 22, 2014, the former redeemable convertible Series E preferred stock warrants, that were converted to common stock warrants as of February 14, 2014, were exercised via a cashless exercise and 8,650 shares of common stock was issued.


The Company had additional debt capacity on its Term Loan C facility that would have expired on April 11, 2014.  The Company drew the remaining $6,000 in available funds on April 4, 2014.  The additional debt was added to the original agreement, and principal will be payable monthly over the remaining period of thirty months of the term agreement which begins in May 2014.