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Stockholders' Equity

12 Months Ended

Dec. 31, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Equity

8. Stockholders’ Equity

Common Stock

At the Annual Meeting of our Company held on September 29, 2020, stockholders approved a proposal to increase the number of authorized shares of our common stock to 25,000,000 shares. Accordingly, on November 5, 2020, we filed an amendment to the Neonode Inc. Restated Certificate of Incorporation, as amended (our “Certificate of Incorporation”), with the Secretary of State of the State of Delaware to increase the number of authorized shares of our common stock to 25,000,000 shares.

On December 29, 2020, we issued 37,288 shares of our common stock to key employees pursuant to our 2020 long-term incentive program (“2020 LTIP”) – see Note 9.

Warrants and Other Common Stock Activity

During the year ended December 31, 2020, 325,000 warrants expired and no warrants were exercised. During the year ended December 31, 2019, warrants to purchase 360,000 shares of common stock were exercised for proceeds of $36,000.

A summary of all warrant activity is set forth below:

Outstanding and exercisable		Warrants				Weighted Average Exercise Price				Weighted Average Remaining Contractual Life
January 1, 2019			1,116,368			$	10.18				2.68
Exercised			(360,000	)			0.10				-
December 31, 2019			756,368			$	14.98				1.47
Issued			-				-				-
Expired/forfeited			(325,000	)			20.00				-
Exercised			-				-				-
December 31, 2020			431,368			$	11.20				1.13

Outstanding Warrants to Purchase Common Stock as of December 31, 2020:

Description

Issue Date

Exercise Price

Shares

Expiration Date

August 2016 Purchase Warrants

08/17/16

$

11.20

431,368

02/17/22

Preferred Stock

During the year ended December 31, 2019, the only shares of our preferred stock issued and outstanding were Series B Preferred Stock. Effective July 1, 2019, all outstanding shares of our Series B Preferred Stock were converted into shares of our common stock.

On August 6, 2020, in connection with the closing of the Private Placement, the Company designated (i) 365 shares of its authorized and unissued preferred stock as Series C-1 Preferred Stock by filing a Series C-1 Certificate of Designation of Preferences, Rights and Limitations with the Secretary of State of the State of Delaware and (ii) 4,084 shares of its authorized and unissued preferred stock as Series C-2 Preferred Stock by filing a Series C-2 Certificate of Designation of Preferences, Rights and Limitations with the Secretary of State of the State of Delaware.

On September 24 and 29, 2020, respectively, the Series C-1 Preferred Stock and Series C-2 Preferred Stock (together, the “Series C Preferred Shares”) were converted into 684,378 shares of Neonode common stock.

The holders of the Series C-1 and C-2 Preferred Shares were entitled to receive dividends at the rate per share of 5% per annum, totaling $33,000. As of December 31, 2020, all of the preferred dividends had been paid.

On December 7, 2020, we filed Certificates of Elimination with the Secretary of State of the State of Delaware to eliminate the Series A Preferred Stock, Series B Preferred Stock, Series C-1 Preferred Stock and Series C-2 Preferred Stock.

No shares of preferred stock were issued and outstanding as of December 31, 2020.

Details of the preferred stock activities are set forth below:

		Series B Preferred Stock Shares Issued				Series B Preferred Stock Amount				Series C-1 Preferred Stock Shares Issued				Series C-1 Preferred Stock Amount				Series C-2 Preferred Stock Shares Issued				Series C-2 Preferred Stock Amount
Balances, December 31, 2018			82			$	-				-			$	-				-			$	-
Conversion of Series B Preferred Stock to common stock			(82	)			-				-				-				-				-
Balances, December 31, 2019			-				-				-				-				-				-
Issuance of Preferred Shares for cash			-				-				365				365				3,567				3,567
Series C-2 Preferred Stock issued for repayment of short-term borrowings and accrued interest			-				-				-				-				517				517
Conversion of Preferred Shares to common stock			-				-				(365	)			(365	)			(4,084	)			(4,084	)
Balances, December 31, 2020			-			$	-				-			$	-				-			$	-

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- References

No definition available.

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- Definition

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-URI http://asc.fasb.org/extlink&oid=120397183&loc=d3e187085-122770

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 505
-URI http://asc.fasb.org/topic&trid=2208762

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