Stockholders' Deficit

3 Months Ended

Mar. 31, 2019

Equity [Abstract]

Stockholders' Deficit

Note 10 - Stockholders’ Deficit

Capital Stock

The Company was organized under the laws of the state of Nevada on July 27, 2004 and was subsequently reincorporated under the laws of the state of Delaware on November 10, 2015. In connection with the reincorporation, as approved by the stockholders, the Company changed its authorized capital stock to consist of (i) 100 million shares of common stock, $.001 par value, and (ii) 2 million shares of preferred stock, $0.001 par value, designated as Series A convertible preferred stock. In December 2015, the Company amended its Certificate of Incorporation to change its authorized capital stock to provide for 15 million authorized shares of preferred stock of which 7,515,000 was designated as Series B convertible preferred stock, par value $.001 per share.

Prior to November 10, 2015, the Company’s authorized capital stock consisted of 100 million shares of common stock, $.001 par value, and 10 million shares of preferred stock, $.001 par value.

Common Stock

The Company had 23,560,864 and 23,471,999 shares of common stock issued and outstanding as of March 31, 2019 and December 31, 2018, respectively. 

During the three months ended March 31, 2019, the Company issued an aggregate of 88,865 shares of common stock as follows:

● an aggregate of 31,811 shares for the exercise of outstanding warrants,

● 18,474 shares for the cashless exercise of stock options and

● an aggregate of 38,580 shares to certain employees in net settlement of bonus compensation totaling $32.