The company completed a best-efforts public offering of 2,272,728 shares of common stock (or equivalents) and accompanying warrants. The combined public offering price was $1.32 per share and accompanying warrant. Net proceeds from the offering are approximately $2.5 million after placement agent fees and expenses. The company may receive an additional $3 million in gross proceeds if all warrants are exercised for cash. Warrants are exercisable at $1.32 per share, subject to stockholder approval. The company plans to use the net proceeds for working capital and general corporate purposes.