|6 Months Ended|
Jun. 30, 2019
|Subsequent Events [Abstract]|
In July 2019, we sold our BioPharma Business and our Clinical Business as described in Note 1.
Assignment of Leases
In connection with the BioPharma Disposal in July 2019, we assigned the lease to our North Carolina location to Buyer, and we are currently in the process of assigning the lease to our New Jersey location to Buyer. Such leases were assumed by Buyer as part of the BioPharma Disposal, effective July 15, 2019.
Issuance of Stock Options
On July 23, 2019, the Company issued 100,000 stock options to each of its five non-employee directors. The options will vest in equal monthly installments over the next twelve months and have an exercise price of $0.15 per share. The directors have waived their rights to any claim for past due director compensation as a condition of these option grants.
Exchanges of Debt into Common Stock
Between July 24, 2019 and July 31, 2019, the Company issued an aggregate of 2,571,429 shares of common stock to Iliad in exchange for the return of an aggregate of $375,000 of principal amount of the Convertible Note to the Company.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef