Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.19.3
Warrants
9 Months Ended
Sep. 30, 2019
Warrants [Abstract]  
WARRANTS

NOTE 7 – WARRANTS

 

At September 30, 2019, warrant shares outstanding were as follows:

 

    Number of Warrants     Weighted Average Exercise Price  
Outstanding September 30, 2018     115,000     $ 8.75  
Issued            
Exercised            
Outstanding, September 30, 2019 (unaudited)     115,000     $ 8.75  
Exercisable, September 30, 2019 (unaudited)     115,000     $ 8.75  

 

In connection with the Company's underwritten initial public offering in December 2016, the Company issued warrants to the underwriters to purchase up to 115,000 shares of its common stock with an exercise price of $8.75 per share, which warrants expire five years from the date of issuance.

 

There was no intrinsic value of the outstanding and exercisable warrants at September 30, 2019.