v3.25.2
TEMPORARY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY (Tables)
6 Months Ended
Jun. 30, 2025
TEMPORARY REDEEMABLE PREFERRED STOCK AND STOCKHOLDERS' EQUITY  
Schedule of common stock reserved for issuance

The Company has shares reserved and available for future issuance of common stock as follows as of June 30, 2025:

June 30, 

    

2025

Warrants

107,813

Awards outstanding under the 2017 and 2007 Equity Incentive Plans

5,898,018

Awards outstanding under the 2024 Equity Plan

1,301,633

Shares available for future issuance under the 2024 Equity Incentive Plan

1,406,542

Shares authorized and available for future issuance

68,065,853

Total shares reserved and available for future issuance of common stock

76,779,859

Schedule of temporary redeemable preferred stock

As of June 30, 2025 and December 31, 2024, the Company was authorized to issue 5,000,000 shares of preferred stock with no shares of preferred stock designated or outstanding.  As of January 1 and June 30, 2024, the Company was authorized to issue 4,014,946 shares of preferred stock with a par value of $0.00001 per share, of which 3,874,946 shares were designated as Series A preferred stock and 140,000 shares were designated as NCNV preferred stock. Shares outstanding for both the Series A and NCNV preferred stock for the period ended June 30, 2024 was as follows (in thousands, except share data):

Series A Preferred Stock

NCNV Preferred Stock

    

Shares

    

Amount

    

Shares

    

Amount  

Balance at January 1, 2024:

 

3,874,946

$

3,000

 

$

Balance at June 30, 2024:

 

3,874,946

$

3,000

 

$

As discussed below, shares of NCNV 1 and NCNV 3 preferred stock were issued in December 2023. No amounts of NCNV 1, NCNV 2, or NCNV 3 preferred stock were previously outstanding.

NCNV Preferred

NCNV Preferred

NCNV Preferred

Stock 1

Stock 2

Stock 3

    

Shares

    

Amount

    

Shares

    

Amount

    

Shares

    

Amount

Balance at January 1, 2024

 

55,312

$

55,312

 

$

48,640

$

48,640

Cancellation of NCNV 1 Preferred Stock

(562)

(562)

Issuance of NCNV 2 Preferred Stock in exchange for Debt Forgiveness

5,752

5,752

Balance at June 30, 2024:

 

54,750

$

54,750

 

5,752

$

5,752

48,640

$

48,640