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Common Stock
6 Months Ended
Jun. 30, 2014
Equity [Abstract]  
Common Stock

Note 9. Common Stock

In the second quarter of 2014, an aggregate of 850,000 Series A Warrants were exercised. For the exercise of these warrants, we issued 850,000 shares of our common stock and received gross proceeds of $1,190,000 in July 2014. In addition, 175,750 warrants that were issued as part of a 2013 financing were exercised in the second quarter of 2014. For the exercise of these warrants, we issued 175,750 shares of our common stock and received gross proceeds of approximately $316,000.

Under a sales agreement entered into in 2009 and amended in 2012, we have the option to sell up to $30 million of our common stock from time to time, in at-the-market offerings. The sales agent is paid compensation of 2% of gross proceeds pursuant to the terms of the amended agreement. The sales agreement as amended, has been filed with the SEC. Under the amended sales agreement, in the second quarter of 2014, we sold a total of 193,271 shares of our common stock at an average price per share of $1.47 for gross proceeds of approximately $285,000. The shares were offered under our shelf registration statement previously filed with, and declared effective by, the SEC.