As of June 30, 2013, cash and investments totaled $58.9 million, which included approximately $27.7 million in net cash proceeds received from the Company’s May 2013 public offering of common stock.
The Company also announced, in accordance with NASDAQ Listing Rule 5635(c)(4), as a material inducement to the hiring of five new employees, it has granted or offered to grant stock options for a total of 136,000 shares of common stock. Inducement option grants have an exercise price equal to the closing price of the Company’s common stock on the NASDAQ market on the grant date, and vest over four years and expire in ten years, assuming continued service.
Financial Results Webcast / Conference Call
MoSys will host a conference call and webcast with investors today at 5:30 a.m. Pacific Time (8:30 a.m. Eastern Time) to discuss the second quarter 2013 financial results. Investors and other interested parties may access the call by dialing 1-866-515-2907 in the U.S. (1-617-399-5121 outside of the U.S.), and entering the pass code 11984387 at least 10 minutes prior to the start of the call. In addition, an audio webcast will be available through the MoSys Web site at http://www.mosys.com. A telephone replay will be available for two business days following the call at 1-888-286-8010 in the U.S. (1-617-801-6888 outside of the U.S.), pass code of 79466204.Use of Non-GAAP Financial Measures To supplement MoSys’ consolidated financial statements presented in accordance with GAAP, MoSys uses non-GAAP financial measures that exclude from the statement of operations the effects of stock-based compensation and amortization of recorded intangible assets. MoSys’ management believes that the presentation of these non-GAAP financial measures is useful to investors and other interested persons because they are one of the primary indicators that MoSys’ management uses for planning and forecasting future performance. MoSys’ management believes that the presentation of non-GAAP financial measures that exclude these items is useful to investors because MoSys’ management does not consider these charges part of the day-to-day business or reflective of the core operational activities of the Company that are within the control of management or that would be used to evaluate management’s operating performance.