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Item 8.01 Other Events.
As described under Item 5.03 above, on December 27, 2016 the Company effected a one (1) for seventy (70) reverse split of its common stock. As previously disclosed on a Current Report on Form 8-K filed on December 13, 2016, the Company's stockholders approved the amendment of its Fifth Amended and Restated Certificate of Incorporation at a special meeting held on December 12, 2016 in order to (i) effect a reverse split of the common stock at the discretion of the Company's Board of Directors and (ii) increase the shares of common stock authorized for issuance to 300 million shares. Effective as of December 23, 2016, the Board of Directors selected the one (1) for seventy (70) reverse stock split ratio and authorized the implementation of the Reverse Stock Split.
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