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Note 7 - Notes Payable
 9 Months Ended
Sep. 30, 2019
Notes to Financial Statements  
Debt Disclosure [Text Block]
7.
Notes Payable
 
On
February 28, 2018,
we entered into a Senior Note Purchase Agreement with Georgia Research Alliance, Inc. (GRA) pursuant to which we issued a
five
-year Senior Promissory Note (the “GRA Note”) to GRA in exchange for
$50,000.
The GRA Note bears an annual interest rate of
5%,
payable monthly, with principal repayments beginning in the
second
year. Principal repayments are expected to be
$2,084
for the remainder of
2019,
$12,500
in
2020,
2021
and
2022,
and
$2,083
in
2023.
Interest expense related to the GRA Note for the
three
-month and
nine
-month periods ended
September 30, 2019
was
$547
and
$1,753,
respectively, as compared to
$625
and
$1,458,
respectively, for the same periods of
2018.
 
On
December 27, 2018,
we issued short-term non-interest-bearing Term Promissory Notes (the “Term Notes”) to
two
current investors in exchange for an aggregate of
$250,000.
In
February 2019,
the Term Notes were cancelled in exchange for shares of our convertible preferred stock (see Note
9
).