9. STOCKHOLDERS' EQUITY |
3 Months Ended |
|---|---|
Mar. 31, 2016 | |
| Stockholders' equity (Note 12) | |
| STOCKHOLDERS' EQUITY |
Common Stock The Company is authorized to issue up to 190,000,000 shares of common stock (par value $0.0001). As of March 31, 2016 and December 31, 2015, the Company had 51,513,924 and 45,451,389 shares of common stock issued and outstanding, respectively. During the three months ended March 31, 2016, the Company issued 5,562,535 shares of common stock in connection with conversion of convertible debt and also issued 500,000 shares of common stock in connection with investment banking services.
Preferred Stock The Company is authorized to issue up to 10,000,000 shares of $.0001 par value preferred stock with designations, rights and preferences to be determined from time to time by the Board of Directors of the Company. Each such series or class shall have voting powers, if any, and such preferences and/or other special rights, with such qualifications, limitations or restrictions of such preferences and/or rights as shall be stated in the resolution or resolutions providing for the issuance of such series or class of shares of preferred stock. As of March 31, 2016 and December 31, 2015 there was no preferred stock issued and outstanding.
Options/Warrants On July 23, 2014, Company stockholders approved the CV Sciences, Inc. Amended and Restated 2013 Equity Incentive Plan, which provides for the granting of stock options, restricted stock awards, restricted stock units, stock bonus awards and performance-based awards. On December 21, 2015, Company stockholders approved an amendment to the CV Sciences, Inc. Amended and Restated 2013 Equity Incentive Plan, increasing the number of shares that may be issued under such plan to 15,000,000 shares of common stock. This plan serves as the successor to the 2013 Equity Incentive Plan.
In January 2016 the Company issued a common stock purchase warrant with the right to purchase up to 2,000,000 shares of the Company common stock (Note 8). |