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Subsequent Events
12 Months Ended
Dec. 31, 2019
Subsequent Events [Abstract]  
Subsequent Events

Note 9—Subsequent Events

 

The Company evaluates events that have occurred after the balance sheet date but before the consolidated financial statements are issued.

 

Pursuant to the Patent License Agreement between the Company and GWU, on February 1, 2020, the Company issued GWU warrants to purchase up to 22,988 shares of the Company's common stock at an exercise price of $4.35 per share. The warrants vest as follows: 20% upon the date of issuance and the balance, or 80% of the warrants shall vest in four equal annual installments of 20% on each anniversary of the initial issuance date.

 

On February 5, 2020, the Company issued 12,500 shares of common stock upon exercise of the warrants originally granted to an investor on January 19, 2018, which resulted in gross proceeds of $12,500.

 

From January 1, 2020 until February 29, 2020, the Company issued an aggregate of 1,388 shares of the Company's common stock to a member of the Company's Board for services rendered.

 

Effective as of February 28, 2020, Vadim Mats resigned as a member of the Company's Audit Committee. Effective as of February 28, 2020, the Board appointed Graig Springer as a member of the Company's Board. In addition, effective as of February 28, 2020, the Board appointed Graig Springer as a member of the Company's Audit Committee to fill the vacancy created by the resignation of Vadim Mats.