Note 17 - Preferred Stock
|12 Months Ended|
Dec. 31, 2017
|Notes to Financial Statements|
|Preferred Stock [Text Block]||
August 2015,we entered into a Securities Exchange Agreement with
twoinvestment funds managed by Platinum to exchange
4,519shares of Series B Preferred Stock held by Platinum for
twenty-year warrants to purchase
14,777,130shares of common stock of the Company at
$0.01per share (the “Series LL warrants”). The Series B Preferred Stock was convertible into common stock at a conversion rate of
3,270shares of common stock per share of Series B Preferred Stock resulting in an aggregate number of shares of common stock into which the Series B Preferred Stock was convertible of
14,777,130shares. There was
noother consideration paid or received for the exchange.
Nogain or loss was recognized in our consolidated financial statements as a result of the exchange. The exchange transaction was entered into in connection with the filing of an application to list the Company’s common stock on the Tel Aviv Stock Exchange (“TASE”) in order to comply with a listing requirement of the TASE that listed companies have only
oneclass of equity securities issued and outstanding. Following the exchange, the Company has
noshares of preferred stock outstanding.
The entire disclosure for terms, amounts, nature of changes, rights and privileges, dividends, and other matters related to preferred stock.
Reference 1: http://www.xbrl.org/2003/role/presentationRef