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Subsequent Events
6 Months Ended
Jun. 30, 2019
Subsequent Events [Abstract]  
Subsequent Events

Note 11 - Subsequent Events

 

Except for the events discussed below, there were no subsequent events that required recognition or disclosure. The Company evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission.

 

On July 2, 2019, the Company announced the termination of the exchange offer contemplated by that certain Tender Offer Statement on Schedule TO that was originally filed on May 28, 2019. As a result of the termination of the Offer, no Warrants were accepted for exchange or exchanged pursuant to the Offer.

 

On July 3, 2019, July 17, 2019, and August 5, 2019, the Company completed a second, third, and fourth closing of term loan subscription agreements with certain accredited investors, pursuant to which the Company issued secured promissory notes in the aggregate principal amount of approximately $4.2 million. The terms of such additional closings of the loan are as described in Note 4 of this filing.