Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

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Subsequent Events
6 Months Ended
Jun. 30, 2018
Subsequent Events [Abstract]  
Subsequent Events

NOTE 13 – SUBSEQUENT EVENTS

 

The Company evaluated all material events through the date the financials were ready for issuance. Management identified the below subsequent event for additional disclosure in the financial statements.

 

On May 2, 2018, the Company filed a Form S-4 Registration Statement to register 27,705,782 shares of common stock with a par value of $0.001. These shares of common stock would be issued to warrant holders in exchange for (i) their outstanding warrants to purchase shares of common stock at $0.625 per share, and (ii) cash payment of $0.15 per share. This offering closed on July 27, 2018 and resulted in an exchange of 9.6 million warrants for $1.44 million in gross proceeds. These amounts were held in escrow as of June 30, 2018, and are not reflected in the June 30, 2018, financial statements.