Note 9 - Stockholders' Equity (Deficit)

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

9 . Stockholder s’ Equity ( Deficit )

2018

Private placement

On 

February 20, 2018,

we entered into a Securities Purchase Agreement (the

“2018

Purchase Agreement”) with certain accredited investors and completed an initial closing on the same date. Pursuant to the initial closing and

two

subsequent closings in

March

and

May

of

2018,

we sold a total of

468,200

shares of common stock and warrants to purchase an aggregate of up to the same number of additional shares of common stock. The warrants issued under the

2018

Purchase Agreement will be exercisable for a period of

three

years from the date of issuance at an exercise price of

$5.00

per share. We received aggregate gross proceeds totaling approximately

$2.3

million pursuant to private placements under the

2018

Purchase Agreement, of which

$125,000

was received from directors and officers of the Company or its subsidiary. As of

December 31, 2018,

468,200

warrants remained outstanding.

Shares

r

eserved

Shares of common stock reserved for future issuance are as follows:

Shares of common stock reserved for future issuance were as follows as of

December 31, 2018:

Stock options outstanding	1,032,211
Shares available for grant under equity incentive plan	732,149
Estimated common shares issuable upon conversion of notes payable and accrued interest	383,947
Common shares issuable under outstanding commons stock purchase warrants	2,035,197
	4,183,504