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Note 15 - Subsequent Events
6 Months Ended
Jun. 30, 2017
Notes to Financial Statements  
Subsequent Events [Text Block]
Note
15.
Subsequent Events
 
On
July 6, 2017,
the Company entered into a securities purchase agreement with several investors, pursuant to which the Company agreed to issue and sell, in a registered direct offering, an aggregate of
2,050,000
shares of common stock of the Company at an offering price of
$2.07
per share for gross proceeds of
$4,243,500
before the deduction of the placement agent fee and offering expenses. In addition, the Company sold Pre-Funded Series CCC Warrants to purchase
385,000
shares of common stock (and the shares of common stock issuable upon exercise of the Pre-Funded Series CCC Warrants), in lieu of shares of common stock to the extent that the purchase of common stock would cause the beneficial ownership of the Purchaser, together with its affiliates and certain related parties, to exceed
9.99%
of our common stock. The Pre-Funded Series CCC Warrants were sold at an offering price of
$2.06
per share for gross proceeds of
$793,100,
are immediately exercisable for
$0.01
per share of common stock and do
not
have an expiration date. In a concurrent private placement, the Company agreed to issue to each investor, for each share of common stock and pre-funded warrant purchased in the offering, a Series AAA Warrant and Series BBB Warrant, each to purchase
one
share of common stock. The Series AAA Warrants are initially exercisable
six
months following issuance, and terminate
five
and
one
-half years following issuance. The Series AAA Warrants have an exercise price of
$2.07
per share and are exercisable to purchase an aggregate of
2,435,000
shares of common stock. The Series BBB Warrants are immediately exercisable following issuance, and terminate
twelve
months following issuance. The Series BBB Warrants have an exercise price of
$4.75
per share and are exercisable to purchase an aggregate of
2,435,000
shares of common stock. Subject to limited exceptions, a holder of a Series AAA and Series BBB Warrant will
not
have the right to exercise any portion of its warrants if the holder, together with its affiliates, would beneficially own in excess of
9.99%
of the number of shares of common stock outstanding immediately after giving effect to such exercise