Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
6 Months Ended
Jun. 30, 2017
Subsequent Events [Abstract]  



On July 11, 2017, pursuant to the June 2017 Offering, see note 7, the Company completed the closing of the sale of 300,000 shares of the Company’s common stock, sold pursuant to the exercise by the Underwriters (defined below) of their remaining over-allotment option, pursuant to the Underwriting Agreement. On June 28, 2017, the Company entered into an underwriting agreement (the “Underwriting Agreement”) with Roth Capital Partners, LLC and Joseph Gunnar & Co., LLC (the “Underwriters”), with respect to the issuance and sale in an underwritten public offering (the “June 2017 Offering”) by the Company of an aggregate of 2,000,000 shares (the “Shares”) of the Company’s common stock, $0.025 par value per share and five year warrants to purchase up to 500,000 shares of Common Stock with an exercise price of $1.90 per Share (the “June 2017 Warrants”), at a combined public offering price of $1.75 per share of Common Stock and quarter-Warrant. Pursuant to the Underwriting Agreement, the Company granted the Underwriters a 45-day option to purchase up to an additional 300,000 shares of Common Stock and/or 75,000 Warrants to purchase shares of Common Stock with an exercise price of $1.90 per share.