CAPITAL RAISE AND LIQUIDITY

3 Months Ended

Mar. 31, 2021

CAPITAL RAISE AND LIQUIDITY

CAPITAL RAISE AND LIQUIDITY

NOTE 3 — CAPITAL RAISE AND LIQUIDITY

On February 11, 2021, we entered into an At Market Issuance Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (“Agent”) under which the Company may offer and sell, from time to time at its sole discretion, shares of its common stock to or through the Agent as its sales agent, having an aggregate offering price of up to $30,000,000. In the three months ended March 31, 2021, we sold a total of 471,970 shares of common stock under this Sales Agreement for total proceeds of approximately $16.5 million, net of estimated transaction costs. As of March 31, 2021, $87,000 in transaction costs was included in accounts payable.