Quarterly report pursuant to Section 13 or 15(d)

Stockholder's Equity

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Stockholder's Equity
9 Months Ended
Sep. 30, 2018
Equity [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
10.
Stockholder’s Equity
 
On September 20, 2018, we entered into an underwriting agreement (the “Underwriting Agreement”) with A.G.P./Alliance Global Partners, as representative (the “Representative”) of the underwriters (the “Underwriters”) pursuant to which we sold to the Underwriters in the Offering an aggregate 
of (i) 5,100,000
Class A Units at a public offering price 
of $0.25
per unit, with each unit consisting of one share of common stock and a Warrant to purchase one share of common stock, 
and (ii) 8,225
 Class B Units at a public offering price 
of $1,000
per unit, with each unit consisting of one share of Series A Convertible Preferred Stock (the “Preferred Shares”) and Warrants to 
purchase 4,000
shares of common stock. The Warrants have an exercise price of $0.25 and will expire five years from the date of issuance. The Preferred Shares, which are convertible into an aggregate 
of 32,900,000
shares of common stock, include a beneficial ownership blocker but have no dividend rights (except to the extent that dividends are also paid on the common stock), liquidation preference or other preferences over common stock, and have no voting 
rights.
 
In addition, the Underwriters were granted an option for a period of 45 days to purchase up to an additional 5,700,000 shares of common stock and/or additional Warrants to purchase up to 5,700,000 shares of common stock.
 
We also agreed to issue to the Representative and its designees warrants to purchase an aggregate of 1,520,000 shares of Common Stock at an exercise price of $0.28 per share.
 
The Offering closed on September 25, 2018. At the closing, the Underwriters exercised their option to purchase 5,700,000 additional Warrants at a price of $0.01 per warrant.
 
Between the closing and September 30, 2018, we issued an aggregate of 13,064,000 shares of common stock upon the conversion of Preferred Shares.