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Note 3 - Sale of Stock for Cash
9 Months Ended
Sep. 30, 2022
Notes to Financial Statements  
Stock Purchase Agreement [Text Block]

Note 3.   Sale of Stock for Cash

 

Lincoln Park Financing

 

During the three and nine months ended  September 30, 2022, we sold 2,440,958 and 4,353,919 shares to Lincoln Park, and in exchange received $485,000 and $903,000 in gross and net proceeds.

 

During the three and nine months ended September 30, 2021, we sold 2,917,819 and 21,444,128 shares to Lincoln Park, and in exchange received $530,000 and $3,545,000 in gross and net proceeds.

 

Unit Offerings

 

During the three and nine months ended  September 30, 2022, pursuant to our unit offerings, we sold 3,766,126 and 13,568,524 shares of our common stock and received $632,000 and $2,364,000 in gross and net proceeds from thirty accredited investors.

 

During the three and nine months ended  September 30, 2021, pursuant to our unit offerings, we sold 388,889 and 3,820,436 shares of our common stock and received $70,000 and $575,000 in gross and net proceeds from four accredited investors.

 

In addition to the shares, we issued each investor a six-month and a five-year warrant to purchase additional shares (see Note 6, “Warrants Issued in Unit Offerings”).