Note 7 – Stockholders' Equity

Common Stock

Common stock consists of $0.001 par value, 75,000,000 shares authorized, of which 1,322,500 shares were issued and outstanding as of December 31, 2018.

Reverse Stock Split

On January 10, 2019, the Company effected a 1-for-4 reverse stock split (the "Reverse Stock Split"). No fractional shares were issued, and no cash or other consideration was paid in connection with the Reverse Stock Split. Instead, the Company issued one whole share of the post-Reverse Stock Split common stock to any stockholder who otherwise would have received a fractional share as a result of the Reverse Stock Split. The Company was authorized to issue 75,000,000 shares of common stock prior to the Reverse Stock Split, which remains unaffected. The Reverse Stock Split did not have any effect on the stated par value of the common stock. Unless otherwise stated, all share and per share information in this Annual Report on Form 10-K has been retroactively adjusted to reflect the Reverse Stock Split.