XML 30 R14.htm IDEA: XBRL DOCUMENT v3.19.1
Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
For purpose of disclosure in the consolidated financial statements, the Company has evaluated subsequent events through March 27, 2019, the date the consolidated financial statements were available to be issued. Except as discussed below, management is not aware of any material events that have occurred subsequent to the balance sheet date that would require adjustment to, or disclosure in the accompanying financial statements.
On January 14, 2019, the Company filed an initial Form 10-12G (the “Form 10”) with the Securities and Exchange Commission (the “SEC”). On February 12, 2019, the SEC declared the Company’s Form 10 became effective. As such, the Company is subject to the periodic and current reporting requirements of Section 13(a) of the Securities and Exchange Act of 1934.
Stock Option Grant
On January 2, 2019, the Company granted to executives and key personnel an aggregate of 650,000 stock options with an exercise price of $1.87. The options vest upon grant, one-year anniversary or annually in equal installments over four years.
On January 2, 2019, the Company granted to Board of Directors an aggregate of 300,000 stock options with an exercise price of $1.87. The options vest 25% upon grant and the remaining 75% will vest annually in equal installments over four years.
On January 2, 2019, the Company granted to non-executive employees an aggregate of 24,000 stock options with an exercise price of $1.87. The options will vest annually in equal installments over four years.
On March 7, 2019, the Company granted to a consultant 15,000 stock options with an exercise price of $3.00. The options will vest upon one-year anniversary.