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Extinguishment of Accounts Payable
12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Extinguishment of Accounts Payable

Note 8 - Extinguishment of Accounts Payable

 

During year ended December 31, 2017, the Company issued 62,417 shares of common stock and 62,417 warrants to certain vendors in lieu of $110,000 of outstanding accounts payable. The warrants have a 5-year term and a weighted-average exercise price of $1.76. The fair value of common stock and warrant at the conversion date was approximately $110,000 and $82,000, respectively. The difference of $82,000 was recorded as a loss on extinguishment of accounts payable.