Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Equity Instruments

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Note 12 - Equity Instruments
9 Months Ended
Sep. 30, 2018
Notes to Financial Statements  
Stockholders' Equity Note Disclosure [Text Block]
12
.
Equity Instruments
 
During
September 2018,
the Company entered into a Stock Purchase Agreement with an investor, pursuant to which the Company issued to the investor in a private placement (the “Private Placement”)
18,320,610
shares (the “Securities”) of the Company’s common stock, par value
$0.001
per share (the “Common Stock”), at a purchase price of
$3.0
million (the “Purchase Price”). The Company plans to use the proceeds from the Private Placement for general working capital purposes, including, without limitation, research and development, and other operating expenses.
 
During the
nine
-month periods ended
September 30, 2018
and
2017,
we issued
1,118,760
and
710,353
shares of our common stock valued at
$317,000
and
$369,000,
respectively, to our employees as payments in lieu of cash for their
2017,
2016
and
2015
bonuses.
 
During the
nine
-month periods ended
September 30, 2018
and
2017,
we issued
94,684
and
105,308
shares of our common stock as matching contributions to our
401
(k) Plan which were valued at
$36,000
and
$54,000,
respectively.
 
During the
nine
-month period ended
September 30, 2017,
we issued
16,406
shares of our common stock valued at
$10,500
to certain members of our Board of Directors as payment in lieu of cash for their retainer fees. We did
not
make any such stock payments to our directors during the
nine
-month period ended
September 30, 2018.