Stockholders' Deficiency

6 Months Ended

Jun. 30, 2020

Stockholders' Equity Note [Abstract]

Stockholders' Deficiency

Note 8 — Stockholders' Deficiency

Treasury stock

As part of the Spin-off (as defined below), and in connection with the initial distribution of its common stock, the Company has 117,917 shares of common stock reserved for issuance in treasury (a) for the holders of certain Parent warrants who will be entitled to receive shares of the Company's common stock if the warrants are exercised, and (b) for the holders of Parent securities that were subject to beneficial ownership limitations in connection with the distribution and for future issuances.

Under the terms of a Trademark License Agreement, the Company issued 2,500 shares of common stock. The fair value of the shares on the date of issuance was $300.