Note 8 - Subsequent Events

Management has evaluated subsequent events to determine if events or transactions occurring through the date on which the financial statements were issued require adjustment or disclosure in the accompanying financial statements. Based upon the evaluation, the Company did not identify any subsequent events that would have required adjustment or disclosure in the condensed financial statements, except as disclosed.

During November 2015, the Company granted 95,000 stock options to employees with an exercise price of $1.17. These stock options are subject to vesting over four years and have a term of ten years.