Note 6 - Shelf Registration and At-the-Market Offering

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

6.

Shelf Registration Statement and At-the-Market Offering

On

March 14, 2019,

the Company filed a shelf registration statement on Form S-

3

with the SEC, which permitted the Company to offer its common stock, preferred stock, debt securities, warrants, subscription rights and units having an aggregate offering price of up to

$50,000.

As part of this shelf registration, the Company entered into an equity distribution agreement with JMP Securities LLC, a sales agent ("JMP Securities"), pursuant to which the Company

may

offer and sell shares of its common stock having an aggregate offering price of up to

$13,000

through an at-the-market offering program administered by JMP Securities. The Company

may

instruct JMP Securities

not

to sell common stock if the sales cannot be effected at or above the price designated by the Company. JMP Securities will be entitled to compensation of up to

5.0%

of the gross proceeds from sales of the Company's common stock pursuant to the equity distribution agreement. As of

March 31 2019,

the Company had

not

yet sold shares of its common stock under this equity distribution agreement.