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Warrants

6 Months Ended

Jun. 30, 2019

NOTE 7 – WARRANTS

At June 30, 2019, warrant shares outstanding were as follows:

	Number of Warrants		Weighted Average Exercise Price
Outstanding June 30, 2018		115,000	$	8.75
Issued		—		—
Exercised		—		—
Outstanding, June 30, 2019 (unaudited)		115,000	$	8.75
Exercisable, June 30, 2019 (unaudited)		115,000	$	8.75

In connection with the Company’s underwritten initial public offering in December 2016, the Company issued warrants to the underwriters to purchase up to 115,000 shares of its common stock with an exercise price of $8.75 per share, which warrants expire five years from the date of issuance.

There was no intrinsic value of the outstanding and exercisable warrants at June 30, 2019.