NOTE 10 – SUBSEQUENT EVENTS

On July 12, 2016, the Board approved the achievement of Milestone 2 in connection with the ophthalmology assets acquisition from SKS. Milestone 2 required the completion of a pharmacodynamic study in an animal model showing clinically relevant efficacy from a drug substance released from SKS Microparticles. Consequently, the Company issued 497,859 shares common stock to SKS.

On July 12, 2016, the Company approved the issuance of 27,573 shares of restricted common stock to a consultant of the Company for services rendered. 50% of these shares vested immediately, and 25% of these shares will vest on each of October 1, 2016 and January 2, 2017.

On July 18, 2016, 73,334 options to purchase common stock were exercised at a price per share of $1.62. Accordingly, the Company issued 73,334 shares of common stock and received gross proceeds of $118,801.