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MANAGEMENT'S PLANS | 12 Months Ended
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Dec. 31, 2019
MANAGEMENT'S PLANS [Abstract] |
MANAGEMENT'S PLANS | NOTE 2 – MANAGEMENT’S PLANS Our future expenditures and capital requirements will depend on numerous factors, including: the progress of our research and development efforts; the rate at which we can, directly or through arrangements with original equipment manufacturers, introduce and sell products incorporating our polymer materials technology; the costs of filing, prosecuting, defending and enforcing any patent claims and other intellectual property rights; market acceptance of our products and competing technological developments; and our ability to establish cooperative development, joint venture and licensing arrangements. We expect that we will incur approximately $587,000 of expenditures per month over the next 12 months. We expect our Lincoln Park financing (described in Note 9) to provide us with sufficient funds to maintain our operations over that period of time and until May 2022. Our current cash position enables us to finance our operations through May 2020 before we will be required to replenish our cash reserves pursuant to the Lincoln Park financing. Our cash requirements are expected to increase at a rate consistent with the Company’s path to revenue growth as we expand our activities and operations with the objective of commercializing our electro-optic polymer technology. We currently have no debt to service.

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