Note 12 - 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 Company's financial statements.

Subsequent to December 31, 2019, a total of 71,981 stock options were exercised for cash proceeds of $42,226.

Subsequent to December 31, 2019, the Company granted stock options to purchase a total of 125,000 shares of the Company's common stock with an exercise price of $2.24 per share. The stock options have terms of ten years and are subject to vesting based over a four-year period.

Subsequent to December 31, 2019, the Company extended the maturity date of the Notes it issued during the year ended December 31, 2018 (see Note 7 - Notes Payable). The original maturity date of March 29, 2021 was extended to June 30, 2021. The expiration date of the warrants that were issued in connection with the Notes was extended from March 29, 2021 to March 29, 2022.

Subsequent to December 31, 2019, the Company extended the expiration date of warrants to purchase approximately 1.2 million shares of the Company's common stock that were issued in 2017 as part of a private offering. The original expiration date of the warrants, June 30, 2020, was extended to September 30, 2021.