|6 Months Ended|
Jun. 30, 2019
|Related Party Transactions [Abstract]|
Note 8 – Related Parties
Aegis Capital Corp. and Mr. Adam Stern
Mr. Adam Stern, a director of the Company, has been Head of Private Equity Banking at Aegis Capital Corp. (“Aegis”) and CEO of SternAegis Ventures since 2012. Aegis acted as a selected dealer for our public offering of Series B Preferred Stock in June 2018, which raised gross proceeds of $8 million. In connection with the offering the Company agreed to issue placement agent warrants to purchase that number of shares of common stock equal to 1.5% of the aggregate number of shares of common stock underlying the shares of Series B Preferred Stock sold in the offering (not including any shares payable pursuant to the contemplated dividend thereunder). A total of 240,000 warrants were issued, of which Adam Stern and Aegis were collectively issued 81,080.
No related party transactions were entered into during the three and six months ended June 30, 2019. Except as disclosed above regarding Aegis and Mr. Adam Stern, no other related party transactions were entered into during the three and six months ended June 30, 2018.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef