Quarterly report pursuant to Section 13 or 15(d)


6 Months Ended
Jun. 30, 2019
Notes to Financial Statements  

[1] On July 14, 2019, 125,000 restricted stock units owned by the Company's Chairman and Chief Executive Officer vested in accordance with his employment agreement dated July, 14, 2016 (see Note H[1] hereof). With respect to the vesting of such restricted stock units, the Company's Chairman and Chief Executive Officer delivered 56,813 shares of common stock to satisfy withholding taxes and received 68,187 net shares of common stock.


[2] On July 25, 2019, the Board of Directors of the Company declared a cash dividend of $.05 per common share with a payment date of September 20, 2019 to all common stockholders as of September 4, 2019.


[3] On August 9, 2019, ILiAD notified the Company that the FDA has allowed Phase 2b to proceed to full enrollment based on satisfactory safety data from the first phase of the clinical study.  As a result, the Company is obligated to invest an additional $1,500,000 in ILiAD for 566,038 Class C units at $2.65 per unit and receive five-year warrants to purchase 186,792 Class C units at an exercise price of $3.50 per unit (see Note J hereof).