MANAGEMENT'S LIQUIDITY PLANS

9 Months Ended

Sep. 30, 2018

Substantial Doubt about Going Concern [Text Block]

NOTE 2 – MANAGEMENT’S LIQUIDITY PLANS

As of September 30, 2018, the Company had cash of $6,090,665 and a working capital of $3,669,749. In addition, the Company used actual net cash in operations of $1,251,559 during the nine months ended September 30, 2018.

In August 2018, the Company sold 1,000,000 shares of its common stock at $6.25 per share for net proceeds of $5,609,215, after costs and expenses of $640,785.

In connection with the October 9, 2015 Note and Warrant Purchase Agreement,

the Company has received proceeds from issuance of convertible notes payable of $100,000 in September 2018 and $124,975 in October 2018

(see Note 7).

It is anticipated that the Company has cash sufficient to fund operations for the next twelve months (See Note 10).