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Note 8 - Commitments and Contingencies
9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]
Note 
8
– Commitments and Contingencies
 
As of the Effective Date, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with certain accredited investors who acquired common shares in accordance with the Plan of Reorganization (the “Recapitalization Investors”).  The Registration Rights Agreement provides certain resale registration rights to the Recapitalization Investors with respect to the common shares they received.  Pursuant to the Registration Rights Agreement, the Company filed, and has to update periodically, a registration statement with the U.S. Securities and Exchange Commission that covers the resale of all shares of common stock issued to the Investors on the Effective Date until such time as such shares have been sold or
may
be sold without registration or restriction pursuant to Rule
144
under the Securities Act, subject to the Company's ability to suspend sales under the registration statement in certain circumstances. As the Company does
not
qualify for forward incorporation by reference, the Company has caused the suspension of sales under the registration statement pending the filing and effectiveness of a post-effective amendment containing updated financial information.
 
Effective
September 30, 2019,
the lease on our primary office and warehouse facility located in Gaithersburg, Maryland, comprising approximately
3,000
square feet expired and we vacated the facility. The facility lease with monthly rent, including our share of certain annual operating costs and taxes, totaled approximately
$4,800
per month. Effective
August 1, 2018,
we executed a
first
amendment to a lease agreement comprising approximately
9,000
square feet permitting the deferral of a portion of the monthly rent until the final
three
months of the lease period and totaling approximately
$100,000.
In
July 2019,
we voluntarily abandoned the space under the amended lease agreement which was subject to a posted eviction notice.
 
As of
September 30, 2019,
amounts due under both lease agreements total approximately
$159,000
net of the security deposit which was applied to the outstanding balance.