`` our participation under this projected five-year grant is awarded incrementally on an annual basis with the first year commencing september 15 , 2017. cumulative funding for this sub-award in the amount of $ 2,403 has been appropriated by the u.s. congress through the fourth contractual year ending in september 2021. during 2021 , we anticipate that the final option year ending on september 14 , 2022 will be awarded to yield10 , resulting in aggregate total sub-award funding of $ 2,957 , provided the u.s. congress continues to appropriate funds for the program , we are able to make progress towards meeting grant objectives and we remain in compliance with other terms and conditions of the sub-award . as of december 31 , 2020 , proceeds of $ 531 remain to be earned from the msu sub-award amounts awarded to date . this includes amounts for reimbursement to our subcontractors , as well as reimbursement for our employees ' time , benefits and other expenses related to future performance . program title funding agency total government funds total revenue recognized through december 31 , 2020 remaining amount to be recognized as of december 31 , 2020 contract/grant expiration subcontract from michigan state university project funded by doe entitled `` a systems approach to increasing carbon flux to seed oil `` department of energy $ 2,403 $ 1,872 $ 531 september 15 , 2021 funding from national research council canada through its industrial research assistance program ( nrc-irap ) entitled `` innovation assistance program `` national research council canada 67 67 — june 24 , 2020 funding from national research council canada through its industrial research assistance program ( nrc-irap ) entitled `` innovation assistance program `` national research council canada 86 86 — december 19 , 2020 total $ 2,556 $ 2,025 $ 531 critical accounting estimates and judgments our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the united states of america . the preparation of these consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets , liabilities , revenue , costs and expenses , and related disclosures . we evaluate our estimates and assumptions on an ongoing basis . our actual results may differ from these estimates . we believe that our significant accounting policies , which are described in note 2 to our consolidated financial statements , involve a degree of judgment and complexity . accordingly , we believe that the specific accounting policies and significant judgments described below are the most critical to aid in fully understanding and evaluating our consolidated financial condition and results of operations . grant revenue government research grants currently represent our sole source of revenue . we recognize government grants as revenue because the grants are central to the company 's ongoing crop science program . revenue is earned as research expenses related to the grants are incurred . revenue earned on government grants , but not yet invoiced as of the balance sheet date , is recorded as unbilled receivables in the accompanying consolidated balance sheets for the years ended december 31 , 2020 and december 31 , 2019. funds received from government grants in advance of work being performed are recorded as deferred revenue until earned . 46 performance-based compensation accrual our employee compensation program includes a potential for bonus payments based on company and individual performance against annual goals that are established early in the fiscal year by management and the company 's board of directors . bonus payments are generally paid at the end of february following the most recently completed fiscal year . the compensation committee of our board of directors is responsible for reviewing annual performance against goals and approving bonus payments for the company 's executive officers . annual cash bonuses are accrued evenly throughout the fiscal year unless management and or the compensation committee determine that bonus compensation payments are unlikely to be paid at the existing rate . in that event , we make a cumulative year-to-date adjustment to our bonus accrual and adjust quarterly accruals for the remainder of the year in order to achieve a bonus compensation accrual at year-end that matches expected bonus payments . our quarterly performance-based compensation expense and accrual balances may vary significantly during the year as performance judgments change and we revise our estimates . stock-based compensation the accounting standards for stock-based compensation require that all stock-based awards be recognized as an expense in the consolidated financial statements and that such expense be measured based on the fair value of the award . determining the appropriate fair value model and calculating the fair value of stock-based payment awards requires the use of highly subjective assumptions , including the expected life of the stock-based payment awards and stock price volatility . we use the black-scholes option-pricing model to value our service-based option grants and to determine the related compensation expense . generally , we recognize the fair value of stock awards evenly over their vesting periods provided the individual receiving the award meets continuing service conditions . the assumptions used in calculating the fair value of stock-based awards represent management 's best estimates , but the estimates involve inherent uncertainties and the application of management judgment . see note 10 to the consolidated financial statements for further discussion on the key assumptions used to determine the fair values of option grants pursuant to the black-scholes option pricing model . income taxes due to the company 's history of annual income tax losses , it has never incurred significant income tax expenses . the company has , however , recorded significant deferred income tax assets for net operating loss carry forwards and research tax credits that are available to offset future income taxes . deferred income taxes are measured by applying currently enacted tax rates to the differences between financial statement and income tax reporting . story_separator_special_tag our forecasts related to research and development expense are subject to change due to the potential impact of the covid-19 pandemic , or as new collaborative and other business opportunities arise that alter our plans . 48 general and administrative expenses general and administrative expenses were $ 5,047 and $ 4,554 for the fiscal years ended december 31 , 2020 and december 31 , 2019 , respectively . the increase of $ 493 , or 11 % , was primarily due to increased employee compensation and benefits , professional fees and higher insurance premiums . employee compensation and benefits increased by $ 198 , from $ 1,826 during the year ended december 31 , 2019 to $ 2,024 during the year ended december 31 , 2020 , and was primarily a result of recording employee bonuses for 2020. stock compensation expense increased by $ 58 during the year ended december 31 , 2020 , as a result of stock option awards issued to employees during the year . professional fees increased by $ 239 , due to work performed by our outside legal and accounting firms in connection with securities registrations and corporate governance activities . during the year ended december 31 , 2020 , insurance expense increased by $ 81 as a result of higher director and officer ( `` d & o `` ) liability insurance premiums . higher d & o premiums are being assessed nationwide by insurance underwriters due to consecutive years of increased class action lawsuits and settlement claims . based on our current planning and budgeting , we anticipate that general and administrative expense will increase over the next twelve months as we add regulatory support and senior operations and business development resources to our company in connection with the future launch of our camelina products . our forecasts related to general and administrative expense are subject to change due to the potential impact of the covid-19 pandemic , or as new collaborative and other business opportunities arise that alter our plans . other income ( expense ) , net replace_table_token_3_th loss on issuance of securities on november 19 , 2019 , we closed on concurrent securities offerings that included a total of 2,875,000 warrants that received liability classification and were determined to have a black-scholes fair value of $ 24,518 on their date of issuance . the gross proceeds of the 2019 offerings were first allocated to the warrants . in accordance with applicable accounting guidance , the warrants were recorded at their full fair value and the difference between the fair value and the proceeds of $ 13,018 was recorded to other income ( expense ) . see note 9 - capital stock and warrants , in our consolidated financial statements . offering costs the combined proceeds of the november 2019 offerings were allocated solely to the liability classified warrants . all of the offering costs of $ 1,254 were therefore assigned to the warrants and expensed immediately to other income ( expense ) . change in fair value of warrants the fair value of the liability classified warrants issued in the november 2019 concurrent offerings were subject to mark-to-market adjustment on subsequent balance sheet dates . we remeasured the fair value of the warrant liability at december 31 , 2019 , recording a gain from the change in fair value of $ 9,541. on january 15 , 2020 , we remeasured the fair value of the warrant liability again in connection with the company 's 1-for-40 reverse stock split , recording a loss from the change in fair value of $ 957. the reverse stock split increased the number of shares of common stock available for issuance resulting in reclassification of the warrants from a liability to equity . 49 loan forgiveness income during april 2020 , we received $ 333 in loan proceeds through the paycheck protection program flexibility act ( `` ppp `` ) , established pursuant to the cares act . under the cares act and the ppp , a borrower may apply for and be granted forgiveness for all or a part of its ppp loan . the amount of loan proceeds eligible for forgiveness is based on a formula that takes into account a number of factors , including the amount of loan proceeds used by the borrower during the twenty-four-week period after the loan origination for certain purposes including payroll costs , rent payments on certain leases , and certain qualified utility payments . we utilized the entire ppp loan amount for qualifying expenses and applied for loan forgiveness , receiving a favorable determination in november 2020 for the full amount of the loan . as a result , we recorded the $ 333 as loan forgiveness income within other income ( expense ) in our consolidated statement of operations for the year ended december 31 , 2020. interest income ( expense ) , net other income ( expense ) for the years ended december 31 , 2020 and december 31 , 2019 was derived primarily from investment income earned from the company 's cash equivalents and short-term investments . story_separator_special_tag the result of the company 's net loss of $ 12,956 , lease payments and modifications to reduce lease liabilities of $ 2,244 , partially offset by non-cash expenses , including the company 's loss on issuance of securities of $ 13,018 representing the difference between the fair value of the liability classified warrants issued in the company 's november 2019 securities offering and the proceeds received from the offering . net cash used for operating activities during the year ended december 31 , 2019 also included an offsetting non-cash gain of $ 9,541 as a result of remeasuring the fair value of the warrants on december 31 , 2019 and other non-cash expenses recorded during 2019 , including stock-based compensation , depreciation , 401 ( k ) stock matching contributions and non-cash lease expense resulting from our amortization of our leased right-of-use assets

liquidity and capital resources we require cash to fund our working capital needs , to purchase capital assets , to pay our lease obligations and other operating costs . the primary sources of our liquidity have historically included equity financings , government research grants and income earned on cash equivalents and short-term investments . since our inception , we have incurred significant expenses related to our research , development and commercialization efforts . with the exception of 2012 , we have recorded annual losses since the company 's initial founding , including our fiscal year ended december 31 , 2020. as of december 31 , 2020 , we had an accumulated deficit of $ 375,100. our total unrestricted cash , cash equivalents and short-term investments as of december 31 , 2020 , totaled $ 9,702 as compared to $ 11,117 at december 31 , 2019. as of december 31 , 2020 , we had no outstanding debt . our cash , cash equivalents and short-term investments at december 31 , 2020 , were held for working capital purposes . as of december 31 , 2020 , we had restricted cash of $ 264 , which consisted of $ 229 held in connection with the lease agreement for our woburn , massachusetts facility and $ 35 held in connection with our corporate credit card program . investments are made in accordance with our corporate investment policy , as approved by our board of directors . the primary objective of this policy is to preserve principal , and consequently , investments are limited to high quality corporate debt , u.s. treasury bills and notes , money market funds , bank debt obligations , municipal debt obligations and asset-backed securities . the policy establishes maturity limits , concentration limits , and liquidity requirements . as of december 31 , 2020 , we were in compliance with this policy . subsequent to year-end , on february 3 , 2021 , we raised $ 11,996 , net of estimated offering costs of $ 744 , through the public sale of 1,040,000 shares of common stock at an issuance price of $ 12.25. these shares were offered by us pursuant to a registration statement on form s-3 ( file no .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources we require cash to fund our working capital needs , to purchase capital assets , to pay our lease obligations and other operating costs . the primary sources of our liquidity have historically included equity financings , government research grants and income earned on cash equivalents and short-term investments . since our inception , we have incurred significant expenses related to our research , development and commercialization efforts . with the exception of 2012 , we have recorded annual losses since the company 's initial founding , including our fiscal year ended december 31 , 2020. as of december 31 , 2020 , we had an accumulated deficit of $ 375,100. our total unrestricted cash , cash equivalents and short-term investments as of december 31 , 2020 , totaled $ 9,702 as compared to $ 11,117 at december 31 , 2019. as of december 31 , 2020 , we had no outstanding debt . our cash , cash equivalents and short-term investments at december 31 , 2020 , were held for working capital purposes . as of december 31 , 2020 , we had restricted cash of $ 264 , which consisted of $ 229 held in connection with the lease agreement for our woburn , massachusetts facility and $ 35 held in connection with our corporate credit card program . investments are made in accordance with our corporate investment policy , as approved by our board of directors . the primary objective of this policy is to preserve principal , and consequently , investments are limited to high quality corporate debt , u.s. treasury bills and notes , money market funds , bank debt obligations , municipal debt obligations and asset-backed securities . the policy establishes maturity limits , concentration limits , and liquidity requirements . as of december 31 , 2020 , we were in compliance with this policy . subsequent to year-end , on february 3 , 2021 , we raised $ 11,996 , net of estimated offering costs of $ 744 , through the public sale of 1,040,000 shares of common stock at an issuance price of $ 12.25. these shares were offered by us pursuant to a registration statement on form s-3 ( file no .
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 Suspicious Activity Report : `` our participation under this projected five-year grant is awarded incrementally on an annual basis with the first year commencing september 15 , 2017. cumulative funding for this sub-award in the amount of $ 2,403 has been appropriated by the u.s. congress through the fourth contractual year ending in september 2021. during 2021 , we anticipate that the final option year ending on september 14 , 2022 will be awarded to yield10 , resulting in aggregate total sub-award funding of $ 2,957 , provided the u.s. congress continues to appropriate funds for the program , we are able to make progress towards meeting grant objectives and we remain in compliance with other terms and conditions of the sub-award . as of december 31 , 2020 , proceeds of $ 531 remain to be earned from the msu sub-award amounts awarded to date . this includes amounts for reimbursement to our subcontractors , as well as reimbursement for our employees ' time , benefits and other expenses related to future performance . program title funding agency total government funds total revenue recognized through december 31 , 2020 remaining amount to be recognized as of december 31 , 2020 contract/grant expiration subcontract from michigan state university project funded by doe entitled `` a systems approach to increasing carbon flux to seed oil `` department of energy $ 2,403 $ 1,872 $ 531 september 15 , 2021 funding from national research council canada through its industrial research assistance program ( nrc-irap ) entitled `` innovation assistance program `` national research council canada 67 67 — june 24 , 2020 funding from national research council canada through its industrial research assistance program ( nrc-irap ) entitled `` innovation assistance program `` national research council canada 86 86 — december 19 , 2020 total $ 2,556 $ 2,025 $ 531 critical accounting estimates and judgments our consolidated financial statements are prepared in accordance with accounting principles generally accepted in the united states of america . the preparation of these consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets , liabilities , revenue , costs and expenses , and related disclosures . we evaluate our estimates and assumptions on an ongoing basis . our actual results may differ from these estimates . we believe that our significant accounting policies , which are described in note 2 to our consolidated financial statements , involve a degree of judgment and complexity . accordingly , we believe that the specific accounting policies and significant judgments described below are the most critical to aid in fully understanding and evaluating our consolidated financial condition and results of operations . grant revenue government research grants currently represent our sole source of revenue . we recognize government grants as revenue because the grants are central to the company 's ongoing crop science program . revenue is earned as research expenses related to the grants are incurred . revenue earned on government grants , but not yet invoiced as of the balance sheet date , is recorded as unbilled receivables in the accompanying consolidated balance sheets for the years ended december 31 , 2020 and december 31 , 2019. funds received from government grants in advance of work being performed are recorded as deferred revenue until earned . 46 performance-based compensation accrual our employee compensation program includes a potential for bonus payments based on company and individual performance against annual goals that are established early in the fiscal year by management and the company 's board of directors . bonus payments are generally paid at the end of february following the most recently completed fiscal year . the compensation committee of our board of directors is responsible for reviewing annual performance against goals and approving bonus payments for the company 's executive officers . annual cash bonuses are accrued evenly throughout the fiscal year unless management and or the compensation committee determine that bonus compensation payments are unlikely to be paid at the existing rate . in that event , we make a cumulative year-to-date adjustment to our bonus accrual and adjust quarterly accruals for the remainder of the year in order to achieve a bonus compensation accrual at year-end that matches expected bonus payments . our quarterly performance-based compensation expense and accrual balances may vary significantly during the year as performance judgments change and we revise our estimates . stock-based compensation the accounting standards for stock-based compensation require that all stock-based awards be recognized as an expense in the consolidated financial statements and that such expense be measured based on the fair value of the award . determining the appropriate fair value model and calculating the fair value of stock-based payment awards requires the use of highly subjective assumptions , including the expected life of the stock-based payment awards and stock price volatility . we use the black-scholes option-pricing model to value our service-based option grants and to determine the related compensation expense . generally , we recognize the fair value of stock awards evenly over their vesting periods provided the individual receiving the award meets continuing service conditions . the assumptions used in calculating the fair value of stock-based awards represent management 's best estimates , but the estimates involve inherent uncertainties and the application of management judgment . see note 10 to the consolidated financial statements for further discussion on the key assumptions used to determine the fair values of option grants pursuant to the black-scholes option pricing model . income taxes due to the company 's history of annual income tax losses , it has never incurred significant income tax expenses . the company has , however , recorded significant deferred income tax assets for net operating loss carry forwards and research tax credits that are available to offset future income taxes . deferred income taxes are measured by applying currently enacted tax rates to the differences between financial statement and income tax reporting . story_separator_special_tag our forecasts related to research and development expense are subject to change due to the potential impact of the covid-19 pandemic , or as new collaborative and other business opportunities arise that alter our plans . 48 general and administrative expenses general and administrative expenses were $ 5,047 and $ 4,554 for the fiscal years ended december 31 , 2020 and december 31 , 2019 , respectively . the increase of $ 493 , or 11 % , was primarily due to increased employee compensation and benefits , professional fees and higher insurance premiums . employee compensation and benefits increased by $ 198 , from $ 1,826 during the year ended december 31 , 2019 to $ 2,024 during the year ended december 31 , 2020 , and was primarily a result of recording employee bonuses for 2020. stock compensation expense increased by $ 58 during the year ended december 31 , 2020 , as a result of stock option awards issued to employees during the year . professional fees increased by $ 239 , due to work performed by our outside legal and accounting firms in connection with securities registrations and corporate governance activities . during the year ended december 31 , 2020 , insurance expense increased by $ 81 as a result of higher director and officer ( `` d & o `` ) liability insurance premiums . higher d & o premiums are being assessed nationwide by insurance underwriters due to consecutive years of increased class action lawsuits and settlement claims . based on our current planning and budgeting , we anticipate that general and administrative expense will increase over the next twelve months as we add regulatory support and senior operations and business development resources to our company in connection with the future launch of our camelina products . our forecasts related to general and administrative expense are subject to change due to the potential impact of the covid-19 pandemic , or as new collaborative and other business opportunities arise that alter our plans . other income ( expense ) , net replace_table_token_3_th loss on issuance of securities on november 19 , 2019 , we closed on concurrent securities offerings that included a total of 2,875,000 warrants that received liability classification and were determined to have a black-scholes fair value of $ 24,518 on their date of issuance . the gross proceeds of the 2019 offerings were first allocated to the warrants . in accordance with applicable accounting guidance , the warrants were recorded at their full fair value and the difference between the fair value and the proceeds of $ 13,018 was recorded to other income ( expense ) . see note 9 - capital stock and warrants , in our consolidated financial statements . offering costs the combined proceeds of the november 2019 offerings were allocated solely to the liability classified warrants . all of the offering costs of $ 1,254 were therefore assigned to the warrants and expensed immediately to other income ( expense ) . change in fair value of warrants the fair value of the liability classified warrants issued in the november 2019 concurrent offerings were subject to mark-to-market adjustment on subsequent balance sheet dates . we remeasured the fair value of the warrant liability at december 31 , 2019 , recording a gain from the change in fair value of $ 9,541. on january 15 , 2020 , we remeasured the fair value of the warrant liability again in connection with the company 's 1-for-40 reverse stock split , recording a loss from the change in fair value of $ 957. the reverse stock split increased the number of shares of common stock available for issuance resulting in reclassification of the warrants from a liability to equity . 49 loan forgiveness income during april 2020 , we received $ 333 in loan proceeds through the paycheck protection program flexibility act ( `` ppp `` ) , established pursuant to the cares act . under the cares act and the ppp , a borrower may apply for and be granted forgiveness for all or a part of its ppp loan . the amount of loan proceeds eligible for forgiveness is based on a formula that takes into account a number of factors , including the amount of loan proceeds used by the borrower during the twenty-four-week period after the loan origination for certain purposes including payroll costs , rent payments on certain leases , and certain qualified utility payments . we utilized the entire ppp loan amount for qualifying expenses and applied for loan forgiveness , receiving a favorable determination in november 2020 for the full amount of the loan . as a result , we recorded the $ 333 as loan forgiveness income within other income ( expense ) in our consolidated statement of operations for the year ended december 31 , 2020. interest income ( expense ) , net other income ( expense ) for the years ended december 31 , 2020 and december 31 , 2019 was derived primarily from investment income earned from the company 's cash equivalents and short-term investments . story_separator_special_tag the result of the company 's net loss of $ 12,956 , lease payments and modifications to reduce lease liabilities of $ 2,244 , partially offset by non-cash expenses , including the company 's loss on issuance of securities of $ 13,018 representing the difference between the fair value of the liability classified warrants issued in the company 's november 2019 securities offering and the proceeds received from the offering . net cash used for operating activities during the year ended december 31 , 2019 also included an offsetting non-cash gain of $ 9,541 as a result of remeasuring the fair value of the warrants on december 31 , 2019 and other non-cash expenses recorded during 2019 , including stock-based compensation , depreciation , 401 ( k ) stock matching contributions and non-cash lease expense resulting from our amortization of our leased right-of-use assets

