Note 17 - Subsequent Events |
3 Months Ended | ||
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Mar. 31, 2021 | |||
Notes to Financial Statements | |||
Subsequent Events [Text Block] |
The Company has evaluated events and transactions subsequent to March 31, 2021 and through the date these consolidated financial statements were included in this Quarterly Report on Form 10 -Q and filed with the SEC.As discussed previously, the Company entered into a Series D Preferred Stock Purchase Agreement with Keystone for a total commitment of
$15.0 million. Of this amount, approximately $5.0 million was received and the related 49,500 shares of Series D Preferred Stock were issued through March 31, 2021. An additional $500,000 was received and the related 5,000 shares of Series D Preferred Stock were issued during the period beginning on April 1, 2021 and ending on the date of filing of this Quarterly Report on Form 10 -Q. These 5,000 shares of Series D Preferred Stock were subsequently converted into 316,725 shares of Common Stock during the period beginning on April 1, 2021 and ending on the date of filing of this Quarterly Report on Form 10 -Q. In accordance with current accounting guidance, $500,000 of stock subscriptions receivable was included in stock subscriptions and other receivables, and approximately $9.6 million was included in preferred stock subscriptions receivable in the consolidated balance sheet as of March 31, 2021. See Notes 2 and 12.
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