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Consolidated Statements of Cash Flows (Parenthetical) (USD $)
9 Months Ended 1 Months Ended
Sep. 30, 2012
Jun. 30, 2013
Equity Financing Agreement [Member]
Dec. 31, 2013
Equity Financing Agreement [Member]
Dec. 31, 2013
Acquired Patent Portfolio [Member]
Number of shares issued as consideration     329,131 [1] 139,548 [2]
Right to sell of common stock   $ 30,000,000    
Restricted Common Stock issued to developer of biological material 24,753      
Fair value of common Stock $ 200,000      
[1] In June 2013, we entered into an agreement with an institutional investor, under which we have the right to sell up to $30.0 million of common stock to the institutional investor. In consideration for entering into the agreement, we issued 329,131 shares of our common stock to the institutional investor. We will not receive any cash proceeds from the issuance of these 329,131 shares. All shares sold or to be sold under this agreement are offered under our shelf registration statement previously filed with, and declared effective by, the SEC. In October 2013, we terminated the agreement without any cost or penalty.
[2] In October, 2013, we acquired from NeuroSpheres a patent portfolio we licensed on an exclusive worldwide basis, including the six patents that are the subject of our patent infringement litigation against Neuralstem. As consideration for the patents, we issued 139,548 shares of unregistered common stock with a fair value of $200,000 to NeuroSpheres. In connection with the patent acquisition, all preexisting agreements were terminated. The acquisition relieves us from further milestone and royalty payments to NeuroSpheres.