XYBRW - Another interpretation from the XYBR thread.
The Warrants During the year ended December 31, 1996, the Company issued
100,000 warrants of Common Stock
in exchange for services provided by an independent contractor, for
which compensation expense of
$125,489 was recorded for the year ended December 31, 1997. On June 30,
1997 and November 12,
1997, the Company granted to the underwriters of the Series A Preferred
Stock and Series B
Preferred Stock warrants to purchase a total of 97,860 shares of Common
Stock at prices that range
from $3.44 to $4.50 per share. For the year ended December 31, 1997, the
Company recorded
approximately $96,000 as a reduction of proceeds from these preferred
stock offerings. |
