In connection with the $1,200,000 2019 Lincoln Park Note issued on May 20, 2019, the Company issued warrants to purchase up to 550,000 shares of common stock. On June 5, 2020, Lincoln Park exercised the warrants through a cashless exercise formula pursuant to the warrant agreement. The Company issued 377,016 shares of Common Stock related to this cashless exercise. On June 5, 2020, the market value of the Common Stock was $0.98 per share.