Note 5 - Stock Purchase Warrants

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Stock Purchase Warrants [Text Block]

Note 5 – Stock Purchase Warrants

The following schedule reflects outstanding stock purchase warrants as of December 31, 2023 and 2022:

Description	December 31, 2023		December 31, 2022
2022 Sales incentive warrants		450,000		450,000
Total		450,000		450,000

During the year ended December 31, 2022, the Company issued two warrants to purchase (i) 250,000 shares of common stock at an exercise price of $1.00 per share and expiring December 31, 2027 and (ii) 200,000 shares of common stock at an exercise price of $1.50 per share and expiring December 31, 2028 to a distribution partner under an agreement whereby the warrants are exercisable subject to the distributor attaining certain performance goals set forth in the warrants based upon exceeding sales quota revenues for calendar years 2023 through potentially 2025. The aggregate intrinsic value for 2022 sales incentive warrants as of December 31, 2023 was zero. Additionally, the Company agreed to issue certain additional warrants to acquire up to 500,000 shares of common stock to the same distribution partner where the issuance of the warrant is contingent upon future financing events and are not reflected in the above table. See Note 6 – Equity and Stock-Based Compensation for further information.