Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.8.0.1
Related Party Transactions
12 Months Ended
Dec. 31, 2017
Related Party Transactions [Abstract]  
Related Party Transactions

Note 16—Related Party Transactions

 

Between September and December 2017, we sold and issued to 17 accredited investors the 2017 Senior Notes in an aggregate principal amount of approximately $1.6 million and five-year warrants to purchase an aggregate of 622,222 shares of our common stock at an exercise price of $1.50 per share, with aggregate net proceeds to us of approximately $1.4 million (the “2017 Bridge Financing”). The following officers and directors participated in the 2017 Bridge Financing, in which they purchased the number of securities listed adjacent to their name.

 

Name   Position with Company  

Principal Amount of Notes

($)

   

Number of

Shares

Underlying Warrants

(#)

   

Aggregate

Purchase Price

($)

 
Domonic J. Carney   Chief Financial Officer     36,111 (1)     14,444       32,500  
Mark Owen   Vice President, Business Development     8,333       3,333       7,500  
Michael Hammons   Director     5,556       2,222       5,000  

 

(1) Consists of 2017 Senior Notes in the principal amounts of $27,778 and $8,333 purchased in the name of Charles Schwab & Co Inc. FBO Domonic Carney IRA in September and December 2017, respectively, over which Mr. Carney has investment control and which securities he may be deemed to beneficially own.

 

In December 2016, we sold and issued to 21 accredited investors the 2016 Senior Notes in an aggregate principal amount of approximately $3.7 million and five-year warrants to purchase an aggregate of 1,498,622 shares of our common stock at an exercise price of $3.00 per share, with aggregate net proceeds to us after a ten percent original issue discount and placement agent fee of approximately $3.0 million (the “December 2016 Financing”). The following officers and directors participated in the December 2016 Financing, in which they purchased the number of securities listed adjacent to their name.

 

Name   Position with Company  

Principal Amount of Notes

($)

   

Number of

Shares

Underlying Warrants

(#)

   

Aggregate

Purchase Price

($)

 
Alain J. Castro   Director and Chief Executive Officer     28,000       11,200       25,200  
Stephen Markscheid   Director     20,000       8,000       18,000