Subsequent Events

3 Months Ended

Mar. 31, 2018

Subsequent Events [Abstract]

Subsequent Events

Note 8 – Subsequent Events 

The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued.

On April 17, 2018, Robert J. Pallé and Carol Pallé exercised their conversion rights and converted $455 ($350 principal and $105 of accrued interest) of their loan (representing the entire amount of principal and interest outstanding and held by Mr. and Mrs. Pallé on that date) into 842 shares of the Company’s common stock (see Note 6 above).

In connection with the hiring of the Company’s new Executive Vice President and Chief Operating Officer (“COO”), the Company granted the COO 400 shares of restricted common stock, with 100 shares vesting on each of the first four one-year anniversaries of his first day of employment with the Company.

Based upon the evaluation, the Company did not identify any additional recognized or non-recognized subsequent events that would require adjustment to or disclosure in the condensed consolidated financial statements.