|12 Months Ended|
Dec. 31, 2019
|Subsequent Events [Abstract]|
Note 12 - Subsequent Events
Management has evaluated subsequent events to determine if events or transactions occurring through the date on which the financial statements were issued require adjustment or disclosure in the Company's financial statements.
Subsequent to December 31, 2019, a total of 71,981 stock options were exercised for cash proceeds of $42,226.
Subsequent to December 31, 2019, the Company granted stock options to purchase a total of 125,000 shares of the Company's common stock with an exercise price of $2.24 per share. The stock options have terms of ten years and are subject to vesting based over a four-year period.
Subsequent to December 31, 2019, the Company extended the maturity date of the Notes it issued during the year ended December 31, 2018 (see Note 7 - Notes Payable). The original maturity date of March 29, 2021 was extended to June 30, 2021. The expiration date of the warrants that were issued in connection with the Notes was extended from March 29, 2021 to March 29, 2022.
Subsequent to December 31, 2019, the Company extended the expiration date of warrants to purchase approximately 1.2 million shares of the Company's common stock that were issued in 2017 as part of a private offering. The original expiration date of the warrants, June 30, 2020, was extended to September 30, 2021.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef