Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.20.2
Warrants
3 Months Ended
Mar. 31, 2020
Warrants [Abstract]  
WARRANTS

NOTE 7 – WARRANTS

 

At March 31, 2020, warrant shares outstanding were as follows:

 

   

Number of

Warrants

   

Weighted

Average

Exercise

Price

 
Outstanding December 31, 2019     115,000     $ 8.75  
Issued            
Exercised            
Outstanding, March 31, 2020 (unaudited)     115,000     $ 8.75  
Exercisable, March 31, 2020 (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 December 2021.

 

There was no intrinsic value of the outstanding and exercisable warrants at March 31, 2020.