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Warrants
 12 Months Ended
Dec. 31, 2019
Equity [Abstract]  
Warrants

NOTE 13. WARRANTS

 

A summary of warrants to purchase common stock issued during the years ended December 31, 2019 and 2018 is as follows:

 

    Shares    

Weighted

Average

Exercise Price

  
Balance outstanding at January 1, 2018     -     $ -  
Granted     53,556       7.20  
Exercised     -       -  
Expired/Cancelled     -       -  
Balance outstanding at December 31, 2018     53,556       7.20  
Granted     -       -  
Exercised     -       -  
Expired/Cancelled     -       -  
Balance outstanding and exercisable at December 31, 2019     53,556     $ 7.20  

 

At December 31, 2019, the 53,556 outstanding stock warrants had no intrinsic value.

  

In conjunction with the sale of common stock in June 2018 (see Note 12), the Company granted to the placement agent warrants exercisable into 53,556 of the Company’s common stock. The warrants were exercisable immediately, have an exercise price of $7.20 per share, and expire in June 2023.