Note 6 - Warrants

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Warrants [Text Block]

6.

Warrants

 

At

March 31, 2018

and

December 31, 2017,

we had

6,676,849

and

6,688,849

warrants outstanding, respectively and exercisable with a weighted average exercise price of

$4.50

at the end of each period. During the

three

month period ended

March 31, 2018,

12,000

warrants were exercised with a weighted average exercise price of

$4.75,

yielding

$57,000

in proceeds to the Company in which the stock was issued

April 3, 2018.

Subsequent to quarter end through

May 8, 2018,

an additional

920,116

warrants were exercised with a weighted average exercise price of

$4.75,

yielding

$4.4

million in proceeds to the Company.