On March 23, 2016, Dr. Kharitonov invested an aggregate of $675,000 in the Company’s public offering and acquired 900,000 Common Shares and warrants exercisable for 675,000 Common Shares. The 900,000 Common Shares and warrants to purchase up to 675,000 Common Shares were purchased at a combined public offering price of $0.75 per share and related warrant.