Note 9 - Subsequent Events

On July 22, 2016, the Company issued 500 shares of common stock to an employee for vested grant.

On July 22, 2016, the Company issued a five-year warrant to purchase 20,000 shares of the Company’s common stock at an exercise price of $1.77 per share to a consultant. The warrant vested on January 22, 2016.

On July 26, 2016, the Company issued a five-year warrant to purchase 5,000 shares of the Company’s common stock at an exercise price of $1.73 per share to a consultant. The warrant vests within six months.

Subsequent to June 30, 2016, the Company sold 423,422 shares of common stock for gross proceeds of $0.7 million as part of the Sales Agreement with MLV.