Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

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Subsequent Events
3 Months Ended
Jun. 30, 2021
Subsequent Events  
Note 12 - Subsequent Events

Note 12.  Subsequent Events

 

We have evaluated subsequent events through the date of this Report and have identified the following matters requiring disclosure:

 

Exercise of Warrants

 

From July 1, 2021 through the date of this Report, holders of outstanding warrants have exercised such warrants to purchase an aggregate of 1,330,931 shares of our common stock and we have received cash proceeds of approximately $923,000.

 

Grant of Options from 2019 Plan

 

From July 1, 2021 through the date of this Report, we have granted options to purchase 400,000 shares of our common stock under the terms of our 2019 Plan to newly-hired employees and to two newly-appointed independent directors on our Board. The options have an exercise price equal to the quoted closing market price of our common stock on the Nasdaq Capital Market on the date of grant, a term of ten years and the employee grants vest 25% on the first anniversary of the grant date and ratably on a monthly basis for three years thereafter and the director grants vest ratably monthly over a period of one year.