NOTE 9 - SUBSEQUENT EVENTS

On January 7, 2016, the Company issued options to purchase 240,000 shares of common stock to directors of the Company. One third of the options vested immediately, and one third of the options will vest on each of January 7, 2017 and January 7, 2018. The options have an exercise price of $5.14 and term of 5 years.

On January 14, 2016, the Company issued options to purchase 149,275 shares of common stock to employees of the Company. One third of the options vested immediately, and one third of the options will vest on each of January 14, 2017 and January 14, 2018. The options have an exercise price of $3.85 and term of 5 years.

On January 22, 2016, the Company issued 480,358 shares of restricted stock to employees of the Company. One half of the shares will vest on each of January 7, 2017, and January 7, 2018, subject to accelerated vesting under certain conditions.

On January 22, 2016, the Company issued options to purchase 80,000 shares of common stock to a director. One third of the options vested immediately, and one third of the options will vest on each of January 22, 2017 and January 22, 2018. The options have an exercise price of $3.62 and term of 5 years.

On January 26, 2016, the Company issued 25,399 shares of restricted stock to a consultant of the Company, all of which vested immediately.