Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

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Subsequent Events
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
Note 14 - Subsequent Events

On July 6, 2018, the Company granted nonqualified stock options to acquire an aggregate of 22,562 shares of the Company’s common stock under the Company’s 2017 Equity Plan to the Company’s CEO and other Board members. The options granted are exercisable at $0.29 per share, which is greater than the fair market value of the common stock on the date of grant as determined under the 2017 Equity Plan and represents the fair market value on May 31, 2018. The options are fully vested and exercisable as of the date of grant and will expire five years thereafter. Based on a Black-Scholes valuation model, these options were valued at $2,997 in accordance with FASB ASC Topic 718.

 

Also on July 6, 2018, the Company granted nonqualified stock options to acquire an aggregate of 30,791 shares of the Company’s common stock under the Company’s 2017 Equity Plan to the Company’s CEO and other Board members. The options granted are exercisable at $0.21 per share, which is greater than the fair market value of the common stock on the date of grant as determined under the 2017 Equity Plan and represents the fair market value on June 30, 2018. The options are fully vested and exercisable as of the date of grant and will expire five years thereafter. Based on a Black-Scholes valuation model, these options were valued at $4,347 in accordance with FASB ASC Topic 718.

 

On July 31, 2018, the Company granted nonqualified stock options to acquire an aggregate of 92,681 shares of the Company’s common stock under the Company’s 2017 Equity Plan to the Company’s executive officers, Board members, certain employees and others. The options granted are exercisable at $0.17 per share, representing the fair market value of the common stock on the date of grant as determined under the 2017 Equity Plan. The options are fully vested and exercisable as of the date of grant and will expire five years thereafter. Based on a Black-Scholes valuation model, these options were valued at $11,093 in accordance with FASB ASC Topic 718.