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STOCKHOLDERS' EQUITY
 3 Months Ended
Mar. 31, 2017
Equity [Abstract]  
STOCKHOLDERS' EQUITY
  11. STOCKHOLDERS’ EQUITY

 

Issuance of common stock pursuant to services performed

 

In January 2017, the Company issued 47,126 shares of “restricted” stock to each William H. Milmoe and Thomas E. Lynch in consideration for services previously rendered to Celsius at a fair value of $164,000, or $3.48 per share representing the closing stock price on that date.

 

Issuance of common stock pursuant to private placement

 

Between January 1, 2017 and March 2017, the Company issued a total of 3,333,329 shares of common stock at $3.00 per share for net proceeds of approximately $10 million to 12 accredited investors.

 

In January 2017, the Company issued 333,333 unregistered common shares upon the conversion of $1,000,000 of debt from CD Financial valued at $3.00 per share.

 

Issuance of common stock pursuant to exercise of stock options

 

During the three months ended March 31, 2017, the Company issued an aggregate of 144,543 shares of its common stock pursuant to the exercise of stock options granted under the Company’s 2006 Stock Incentive Plan. The Company received aggregate proceeds of $25,000 for options exercised for cash, with the balance of the options having been exercised on a “cashless” basis.