Annual report pursuant to Section 13 and 15(d)

Subsequent Events

v3.20.4
Subsequent Events
12 Months Ended
Dec. 31, 2020
Subsequent Events  
Subsequent Events

Note 19 — Subsequent Events

Since December 31, 2020, a total of 7,196,378 warrants were exercised on a cash basis resulting in the issuance of 7,196,378 shares of common stock in exchange for proceeds of $34,352,848. Additionally, as a result of stock option exercises, mostly on a cashless basis, we have issued an additional 48,747 shares of common stock.

On January 28, 2021, Intel converted all of its 49,626 shares of Series A Preferred Stock into 4,962,600 shares of common stock and the shares of Series A Preferred Stock have been retired and cannot be reissued. In connection with the foregoing, Intel and the Company entered into an agreement on the conversion date pursuant to which Intel agreed to accept $10,000,000 in full payment of all accrued Series A Preferred Stock dividends in the approximate amount of $10,800,000.