Note 8 - Warrants for Common Stock

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Warrants for Common Stock, Disclosure [Text Block]

(

8

)   Warrants for Common Stock

On

December 24, 2018,

the Company issued

2,666,666

warrants to purchase the Company’s common stock in connection with the sale of an aggregate of

5,333,332

shares of the Company’s common stock at a purchase price of

$0.75

per share for aggregate proceeds of

$3.8

million, net of

$200,000

expenses. The warrants are exercisable immediately for cash and after

six

months will also be exercisable on a cashless basis if there is

no

effective registration statement registering the resale of the warrants. Warrants can be settled in unregistered shares. The warrants have an exercise price of

$0.75

per share and will expire on

December 24, 2023.

The issued warrants are standalone financial instruments and were equity classified in accordance with US GAAP.