SUBSEQUENT EVENTS |
9 Months Ended |
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Sep. 30, 2023 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS |
NOTE 10 – SUBSEQUENT EVENTS
On November 3, 2023, the Company entered into a Warrant Exchange Agreement (the “Agreement”) with entities affiliated with Empery Asset Management, LP (the “Empery Entities”), who are holders of the Company’s outstanding warrants (the “Warrants”) to purchase an aggregate of 24,122 shares of the Company’s common stock, par value $ per share (the “Common Stock”), which Warrants were originally issued on July 8, 2020. Pursuant to the Agreement, the Company issued an aggregate of shares of Common Stock to the Empery Entities in exchange for the surrender and cancellation of the Warrants held by the Empery Entities (which Warrants represent all outstanding Warrants of the Company) on November 9, 2023. Upon issuance of such shares and cancellation of the Warrants, the Company no longer has any Warrants outstanding.
On November 1, 2023, the Company issued another note payable to its Chief Executive Officer in the amount of $28, bearing interest at 1% per annum, due October 31, 2024. The note was made to support operations during periods when funding from other sources reached low levels.
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