General form of registration statement for all companies including face-amount certificate companies

Capital Stock (Tables)

v2.4.0.8
Capital Stock (Tables)
 12 Months Ended
Dec. 31, 2013
Capital Stock [Abstract]  
Schedule of Issued and Outstanding Convertible Preferred Stock

Issued and outstanding convertible preferred stock (without regard to the conversion ratio used in the Merger discussed in Note 18, Subsequent Events, Merger with Ekso Bionics Holdings, Inc.) consisted of the following at December 31, 2013:

 

          Number of              
    Number of     Shares     Liquidation     Aggregate  
    Shares     Issued and     Preference     Liquidation  
Series   Authorized     Outstanding     Per Share     Preference  
                         
A     4,624,840       4,496,270 (1)     $ 1.75     $ 7,868,473  
                                 
A-2     4,527,010       4,335,414     $ 2.10     $ 9,104,369  
                                 
B     12,000,000       5,179,344     $ 2.10     $ 10,876,622  
                            $ 27,849,464  

 

  (1) Series A financing efforts commenced in December 2010 were completed in July 2011. The Company issued 4,496,270 of the 4,650,000 authorized shares of Series A convertible preferred stock in connection with this transaction. The total amount of equity raised amounted to $7.87 million. Of this amount $2.43 million was received in cash and $393,000 was completed through a conversion of debt during the year ended December 31, 2010 and the rest of the funds were raised during 2011. Lockheed, a key customer, participated in this round of financing by making an equity investment totaling $1.5 million.

 
Schedule of Outstanding Warrants

The Company issued warrants to lenders in connection with convertible debt and to a customer in connection with a service contract. The outstanding warrants (without regard to the conversion ratio used in the Merger discussed in Note 18, Subsequent Events, Merger with Ekso Bionics Holdings, Inc.) were as follows:

 

    Number                         Fair Value as of  
Warrants to   of     Date of   Exercise     Expiration         December 31  
purchase shares of:   shares     issue   Price     Date   At Inception     2013     2012  
                                       
Series A, to lender     128,570     4/29/2011   $ 1.75     10/31/2021   $ 167,256     $ 69,312     $ 151,738  
Series B, to lender     257,829     5/31/2012   $ 2.10     6/1/2022   $ 348,327       181,567       354,593  
Common stock, to lender     19,337     5/31/2012   $ 2.10     6/1/2022   $ 6,789       N/A       N/A  
Series B to customer     27,500     11/16/2012   $ 0.01     11/16/2019   $ 57,494       31,108       57,491  
Common stock, to investors in Series B     388,435     Various from 5/20/2013 to 8/29/2013   $ 2.10     10 years from issue   $ 136,380       N/A       N/A  
                                      281,987       563,822  
Obligation to issue warrant (see last paragraph)                                     95,760       -  
Total warrant liability                                   $ 377,747     $ 563,822  

 

(Note: The fair value as of period end is not applicable (N/A) for the warrants on common stock because such instruments are carried in equity without revaluation to periodic fair value.)