Note 10 - Subsequent Events

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Subsequent Events [Text Block]

NOTE

10

– SUBSEQUENT EVENTS

Financing

On

July 8, 2019,

the Company and Golisano LLC, as successor by assignment to JL entered into the Amendment

No.

1

to Amended and Restated Note (“Amendment

No.

1

to Amended and Restated Golisano JL Note”), relating to an original principal amount of

$5,000

to amend that certain Amended and Restated Note, dated

August 30, 2017.

Amendment

No.

1

to Amended and Restated Golisano JL Note extends the maturity date of the note to

October 22, 2021.

On

July 8, 2019,

the Company and Golisano LLC, as successor by assignment to Penta Mezzanine SBIC Fund I, L.P. entered into Amendment

No.

1

to Amended and Restated Note (“Amendment

No.

1

to Amended and Restated First Golisano Penta Note”), relating to an original principal amount of

$8,000

to amend that certain Amended and Restated Note, dated

August 30, 2017.

Amendment

No.

1

to Amended and Restated Golisano Penta Note extends the maturity date of the note to

October 22, 2021.

On

July 8, 2019,

the Company and Golisano LLC, as successor by assignment to Penta Mezzanine SBIC Fund I, L.P. entered into the Amendment

No.

1

to Amended and Restated Second Golisano Penta Note (“Amendment

No.

1

to Amended and Restated Second Golisano Penta Note”), relating to an original principal amount of

$2,000

to amend that certain Amended and Restated Deferred Draw Note, dated

August 30, 2017.

Amendment

No.

1

to Amended and Restated Second Golisano Penta Note extends the maturity date of the note to

October 22, 2021.

On

July 8, 2019,

the Company and Golisano LLC, as successor by assignment to JL-Mezz Utah, LLC f/k/a JL-BBNC Mezz Utah, LLC, entered into the Fifteenth Amendment to the Note and Warrant Purchase Agreement, dated as of

January 22, 2015,

as amended from time to time (the "Fifteenth Amendment"). The Fifteenth Amendment extends the maturity date of the note to

October 22, 2021.

On

July 8, 2019,

the Company and Golisano LLC, as successor by assignment to Penta, entered into the Sixteenth Amendment to Note and Warrant Purchase Agreement, dated as of

November 13, 2014,

as amended from time to time (the "Sixteenth Amendment"). The Sixteenth Amendment extends the maturity date of the note to

October 22, 2021.

Elimination of Named Executive Position

On

August 6, 2019,

the Company eliminated the position of chief science officer, a position held by Gregory Grochoski, who was a named executive of the Company. 

Resignation of Chief Executive Officer; Naming of Interim Chief Executive Officer.

On

August 12, 2019

Anthony Zolezzi resigned from his position as Chief Executive Officer effective immediately and Carla Goffstein was named as Interim Chief Executive Officer effective immediately. Mr. Zolezzi shall continue to serve as a member of the Board of Directors.