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Note 13 - Subsequent Events
6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  
Subsequent Events [Text Block]
13.
     Subsequent Events
 
Stock
Transactions
 
On
July 16, 2019,
we entered into Exchange Agreements with holders of our Series F and Series G Preferred Stock, pursuant to which the holders exchanged all shares of Series F and Series G Preferred Stock held by them for an aggregate of
3,257
shares of Series H Convertible Preferred Stock (“Series H Preferred Stock”). Each share of Series H Preferred Stock is entitled to a liquidation preference equal to its
$1,000
stated value, has
no
voting rights, and is
not
entitled to a dividend. The Series H Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, at a conversion price equal to the lesser of (i)
$7.50
per share and (ii)
80%
of the lowest volume weighted average price of the common stock during the
ten
trading days immediately preceding the delivery of a notice of conversion. The Series H Preferred Stock contains price adjustment provisions, which
may,
under certain circumstances reduce the conversion price to match if we sell or grant options to purchase, including rights to reprice, our common stock or common stock equivalents at a price lower than the then conversion price of the Series F Preferred Stock.
 
On
July 24, 2019,
we entered into a Securities Purchase Agreement with the purchasers identified therein (the “Purchasers”) providing for sale to the Purchasers of an aggregate of
700
shares of our Series I Convertible Preferred Stock (“Series I Preferred Stock”) for gross proceeds of
$700,000.
Each share of Series I Preferred Stock is entitled to a liquidation preference equal to its
$1,000
stated value, has
no
voting rights, and is
not
entitled to a dividend. The Series I Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, at a conversion price equal to the lesser of (i)
$7.50
per share and (ii)
80%
of the lowest volume weighted average price of the common stock during the
ten
trading days immediately preceding the delivery of a notice of conversion. The Series I Preferred Stock contains price adjustment provisions, which
may,
under certain circumstances reduce the conversion price to match if we sell or grant options to purchase, including rights to reprice, our common stock or common stock equivalents at a price lower than the then conversion price of the Series I Preferred Stock.
 
During
July
and
August 2019,
holders of our preferred stock converted
46
shares of our Series F Preferred Stock into
88,400
shares of our common stock and
171
shares of our Series H Preferred Stock into
1,737,441
shares of our common stock. During
August 2019,
we issued
37,827
shares of our common stock in exchange for consulting services.