Note 5 - Equity

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

NOTE

5—Equity

During the

three

months ended

March 31, 2019

,

no

 

10

year costless warrants associated with the Convertible Second Lien Notes were exercised. As of

March 31, 2019

,

150,000

of such warrants remain un-exercised. The Company also did

not

have a material vesting of its share-based compensation units during the

three

months ended

March 31, 2019.

During the

three

months ended

March 31, 2018, 

certain holders of the

10

year costless warrants associated with the Convertible Second Lien Notes exercised

589,375

warrants for the issuance of an equal amount of our

one

cent par value common stock. The Company received cash for the

one

cent par value for the issuance of

42,500

common shares. During the

three

months ended

March 31, 2018

, the Company issued

201,969

shares of its common stock to employees for payment of a portion of the bonus earned by such employees during

2017

and accrued as of

December 31, 2017.

The Company repurchased

75,053

of these shares into Treasury for payroll taxes withheld from employees related to the bonus payout, and these Treasury shares were retired in

December 2018.

The Company did

not

have a material vesting of its share-based compensation units during the

three

months ended

March 31, 2018

.