Quarterly report pursuant to Section 13 or 15(d)

Note 17 - Subsequent Events

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Note 17 - Subsequent Events
3 Months Ended
Mar. 31, 2021
Notes to Financial Statements  
Subsequent Events [Text Block]
17.
Subsequent Events
 
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.