Annual report pursuant to Section 13 and 15(d)

NOTE 13 - SUBSEQUENT EVENTS

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NOTE 13 - SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events [Text Block]

NOTE 13 – SUBSEQUENT EVENTS


Options granted:


On January 22, 2019, the Company granted an aggregate of 460,000 options to purchase the Company’s common stock to key employees and consultants with an exercise price of $4.33 per share, vesting over three years quarterly beginning April 1, 2019 and expiring ten years from issuance date.


On March 14, 2019, the Company granted an aggregate 345,000 options to purchase the Company’s common stock to key employees and consultants with an exercise price of $5.66 per share with 20,000 options vesting on the first anniversary of the Grant Date, 150,000 vesting over three years annually  and 175,000 vesting over three years quarterly beginning April 1, 2019 and expiring ten years from issuance date.


Restricted stock units granted:


On February 28, 2019, the Company granted 70,000 restricted stock units for services to two key employees with one third vesting immediately and remainder vesting over two years on anniversary.


Common stock


On January 22, 2019, the Company issued 465,000 shares of its common stock for services rendered to key employees and a consultant.


On February 1, 2019, the Company issued 40,000 shares of its common stock for services rendered to key consultants.


On February 28, 2019, the Company issued an aggregate of 23,332 shares of its common stock for previously issued restricted stock units to employees on February 28, 2019, 30,000 shares of its common stock for services rendered to a key consultant and 25,000 shares of its common stock as employee compensation.


In 2019, the Company issued an aggregate of 111,658 shares of its common stock in exchange for proceeds of $418,718 from the exercise of warrants.


In 2019, the Company entered into securities purchase agreements with investors pursuant to which the Company issued 2,155,127 shares of common stock for aggregate proceeds of $8,619,278, net of $1,172 in expenses.


In connection with the securities purchase agreements, the Company entered into registration rights agreements pursuant to which the Company agreed to provide registration rights with respect to the common stock issued to the investors. Specifically, the Company agreed to file a registration statement with the Securities and Exchange Commission covering the resale of the shares of common stock issued pursuant to the private placement within 90 days of the termination date of such private placement and to cause such registration statement to be declared effective by the Securities and Exchange Commission, in the event that the registration statement is not reviewed by the Securities and Exchange Commission, within 30 calendar days after the Company is notified that registration statement is not being reviewed by the Securities and Exchange Commission, and within 180 calendar days of the initial filing date of the registration statement in the event that the registration statement is reviewed by the Securities and Exchange Commission and the Securities and Exchange Commission issues comments.