XML 65 R17.htm IDEA: XBRL DOCUMENT v3.20.1
Note 10 - Warrants
 12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Warrants [Text Block]
10
.
Warrants
 
In
March 2014,
pursuant to a to a registered public offering and note conversion agreement with certain note holders, the Company issued warrants to purchase
6,910,283
shares of common stock at
$4.75
per share. The warrants expire in
March 2021.
 
In
May 2016,
in connection with our WAVI credit facility, the Company issued a warrant to purchase
550,000
shares of common stock at
$1.75
per share. The warrant was immediately exercisable and expires in
May 2021.
 
The following table summarizes warrant activity for the years ended
December 
31,
2019
and
2018:
 
   
Year Ended
    
Year Ended
  
   
December 31, 2019
    
December 31, 2018
  
   
 
 
 
  
Wtd. Avg.
    
 
 
 
  
Wtd. Avg.
  
   
 
 
 
  
Exercise
    
 
 
 
  
Exercise
  
   
Shares
    
Price
    
Shares
    
Price
  
Outstanding at beginning of year
    
4,080,005
     $
4.35
      
6,688,849
     $
4.50
  
Exercised
    
(121,000
)
    
4.75
      
(2,608,844
)
    
4.75
  
Outstanding and exercisable at end of year
    
3,959,005
     $
4.33
      
4,080,005
     $
4.35