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Note 11 - Subsequent Events
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Subsequent Events [Text Block]
1
1
.
Subsequent Events
 
On
October 25, 2018,
the Company completed its reincorporation from a Utah corporation to a Delaware corporation (the “Reincorporation”). The Reincorporation was approved by shareholders of the Company at the Company’s annual meeting of Shareholders on
October 25, 2018.
 
On
November 5, 2018,
the Company commenced a rights offering pursuant to which each shareholder of record as of
November 5, 2018
shall be entitled to purchase
one
(
1
) share of the Company’s common stock at a subscription price of
$1.20
per whole share (the "Basic Subscription Right"), or a maximum of
8,306,535
shares. If a shareholder exercises its Basic Subscription Right in full and other shareholders do
not
fully exercise their Basic Subscription Rights, a shareholder will have an over-subscription right to purchase the same number of shares of the Company’s common stock that it
may
acquire pursuant to the exercise of its Basic Subscription Right, at the same subscription price of
$1.20
per whole share, additional shares of common stock that remain unsubscribed at the expiration of the rights offering. Over-subscription rights will be available only to shareholders who exercise their basic subscription rights in full. The over-subscription rights will be subject to availability and pro rata allocation of shares among shareholders exercising their over-subscription right. The rights offering will expire on Monday,
November 19, 2018
at
5:00
p.m. Eastern Standard Time.  The rights offering is being conducted pursuant to a registration statement on Form S-
1
that was declared effective by the Securities and Exchange Commission on
November 5, 2018
and the prospectus dated
November 5, 2018
included therein.