Note 14 - Subsequent Events

6 Months Ended

Jun. 30, 2021

Notes to Financial Statements

Subsequent Events [Text Block]

Series C Preferred Stock

On July 30, 2021, pursuant to the Series C Convertible Preferred Stock Agreement, dated as of July 30, 2021, by and between the Company and TEP Next Decade, LLC, an affiliate of Energy & Power Transition Partners, LLC (“TEP”), the Company issued to TEP (i) 5,000 shares of Series C Preferred Stock at $1,000 per share for a purchase price of $5 million, (ii) an additional 100 shares of Series C Preferred Stock as an origination fee and (iii) warrants representing the right to acquire in the aggregate a number of shares of the Company's common stock equal to approximately 7.1 basis points (.071%) of all outstanding shares of common stock, measured on a fully diluted basis, on the exercise date for an exercise price of $0.01 per share.

The Company has evaluated subsequent events through August 2, 2021, the date the financial statements were issued. Any material subsequent events that occurred during this time have been properly recognized and/or disclosed in these financial statements.