17.

SUBSEQUENT EVENTS

We have adopted the disclosure provisions of Codification Topic 855-10-50-1, Subsequent Events, which provides guidance to establish general standards of accounting for and disclosures of events that occur after the balance sheet date but before financial statements are issued. Codification Topic 855-10-50-1 requires additional disclosures only, and therefore did not have an impact on our financial condition, results of operations, earnings per share or cash flows. Entities are required to disclose the date through which subsequent events were evaluated as well as the rationale for why that date was selected. Public entities must evaluate subsequent events through the date that financial statements are issued. Accordingly, we have evaluated subsequent events through the time of filing on November 12, 2015, the date we have issued this Quarterly Report on Form 10-Q. This disclosure should alert all users of financial statements that an entity has not evaluated subsequent events after that date in the set of financial statements being presented.

During the fourth quarter of 2015, we entered into a revised agreement with Plas-Pak Inc. of Norwich, Connecticut covering the supply of plastic syringes used to deliver Mast Out^®, effective through the year ending December 31, 2020. On October 28, 2015, we filed a registration statement on Form S-3 with the SEC for the potential issuance of up to $10,000,000 in equity (subject to certain limitations). We filed Pre-Effective Amendment No. 1 on November 5, 2015, and our registration statement became effective on November 10, 2015. During the fourth quarter of 2015, our Board of Directors voted to exercise an option to acquire land nearby to our existing Portland facility for a potential site for a Mast Out^® production facility for $238,000 (less the $23,800 option payment that was paid during the third quarter of 2015).