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Subsequent Events
6 Months Ended
Jun. 30, 2020
Subsequent Events [Abstract]  
Subsequent Events

NOTE 8 – SUBSEQUENT EVENTS

 

On July 1, 2020, the Company granted 500,000 options to purchase its common stock under the 2018 Equity Incentive Plan. These options shall vest quarterly over two years commencing June 1, 2020, whereby 12.50% of the shares covered by the options will vest on the three month anniversary of June 1, 2020, and 12.50% of the shares covered by the options at the end of each subsequent three month period thereafter over the course of the subsequent twenty-one months.

 

On July 2, 2020, the Company issued 485,318 shares of common stock in respect of the conversion of convertible loans as detailed in note 3 above. In addition, on the same date, the Company issued 91,743 shares of common stock in respect of Security Purchase Agreement detailed in note 4 above. 

 

During July 2020, the Company entered into Securities Purchase Agreements with existing shareholders (the “Investors”), pursuant to which the Company sold to the Investors for an aggregate amount of $75,000, 68,808 units at a price per unit of $1.09 (the "Units"), each Unit consists of (i) one share of common stock of the Company and (ii) one warrant to purchase one share of Company's common stock with an exercise price of $1.20 for a period of 36 months following the issuance date.