Note 7 – Subsequent Events

On November 13, 2019, the Company closed its initial public offering of 2,125,000 shares of its common stock at a price to the public of $4.00 per share. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, were $8.5 million. In conjunction with the closing the underwriters were issued 148,750 common stock warrants with a term of five years and an exercise price of $4.00. The warrants become exercisable on May 5, 2020. In addition, the Company granted the underwriters a 45-day over-allotment option to purchase up to an additional 318,750 shares of common stock at the initial price to the public less underwriting discounts and commissions. On November 20, 2019, pursuant to the over-allotment option, the underwriters purchased 318,750 shares of common stock at the initial price to the public of $4.00 per share less underwriting discounts and commissions of $89,250.