Annual report pursuant to Section 13 and 15(d)

Warrants

v3.20.1
Warrants
12 Months Ended
Dec. 31, 2019
Warrants [Abstract]  
WARRANTS

NOTE 8 – WARRANTS

 

The following table summarizes warrant activity:

 

    Number of
Warrants
    Weighted Average
Exercise Price
 
Outstanding, December 31, 2017     115,000     $ 8.75  
Issued            
Exercised            
Outstanding, December 31, 2018     115,000     $ 8.75  
Issued            
Exercised            
Outstanding and exercisable, December 31, 2019     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 December 2021.

 

There was no intrinsic value of the outstanding and exercisable warrants at December 31, 2019.