Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Apr. 14, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | AMARILLO BIOSCIENCES INC | |
Entity Central Index Key | 1,014,763 | |
Trading Symbol | amar | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 22,350,935 | |
Entity Public Float | $ 3,502,620 | |
Document Type | 10-K | |
Document Period End Date | Dec. 31, 2016 | |
Document Fiscal Year Focus | 2,016 | |
Document Fiscal Period Focus | FY | |
Amendment Flag | false |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Assets | ||
Cash and cash equivalents | $ 134,125 | $ 21,138 |
Inventory | 14,700 | 0 |
Advance to related party | 37,835 | |
Prepaid expense and other current assets | 75,739 | 18,154 |
Total current assets | 262,399 | 39,292 |
Patents, net | 156,063 | 72,105 |
Property and equipment, net | 44,214 | 5,798 |
Total assets | 462,676 | 117,195 |
Liabilities and Stockholders' Deficit | ||
Accounts payable and accrued expenses | 165,502 | 58,550 |
Accrued interest - related parties | 3,259 | 1,706 |
Accounts payable – related parties | 144,426 | |
Advance from related party | 187,500 | |
Customer deposits – related party | 124,833 | |
Notes payable – related parties | 384,555 | |
Convertible note payable – related party | 791,481 | |
Total current liabilities | 1,272,575 | 589,237 |
Total liabilities | 1,272,575 | 589,237 |
Commitments and contingencies | ||
Stockholders' deficit | ||
Preferred stock, $0.01 par value: Authorized shares - 10,000,000, Issued and outstanding shares – 0 at December 31, 2016 and December 31, 2015 | ||
Common stock, $0.01 par value: Authorized shares - 100,000,000, Issued and outstanding shares – 21,916,143 and 20,144,810 at December 31, 2016 and 2015, respectively | 219,161 | 201,448 |
Additional paid-in capital | 237,540 | (76,872) |
Accumulated deficit | (1,266,600) | (596,618) |
Total stockholders' deficit | (809,899) | (472,042) |
Total liabilities and stockholders’ deficit | $ 462,676 | $ 117,195 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 21,916,143 | 20,144,810 |
Common Stock, Shares, Outstanding | 21,916,143 | 20,144,810 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues | ||
Cost of revenues | ||
Gross margin (loss) | ||
Operating expenses: | ||
Research and development expenses | ||
Selling, general and administrative expenses | 667,111 | 519,821 |
Total operating expenses | 667,111 | 519,821 |
Operating loss | (667,111) | (519,821) |
Other income (expense): | ||
Interest expense | (2,871) | (2,053) |
Net loss | $ (669,982) | $ (521,874) |
Basic and diluted net loss per average share available to common shareholders (in dollars per share) | $ (0.03) | $ (0.03) |
Weighted average common shares outstanding – basic and diluted (in shares) | 21,055,886 | 20,144,810 |
Statements of Stockholders' Def
Statements of Stockholders' Deficit - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2014 | 20,144,810 | ||||
Balance at Dec. 31, 2014 | $ 201,448 | $ (157,446) | $ (74,744) | $ (30,742) | |
Cash received from stock subscription | 80,574 | 80,574 | |||
Net loss | (521,874) | (521,874) | |||
Balance (in shares) at Dec. 31, 2015 | 20,144,810 | ||||
Balance at Dec. 31, 2015 | $ 201,448 | (76,872) | (596,618) | (472,042) | |
Net loss | (669,982) | (669,982) | |||
Balance (in shares) at Dec. 31, 2016 | 21,916,143 | ||||
Balance at Dec. 31, 2016 | $ 219,161 | 237,540 | (1,266,600) | (809,899) | |
Issuance of stock for cash in private placements (in shares) | 1,771,333 | ||||
Issuance of stock for cash in private placements | $ 17,713 | $ 314,412 | $ 332,125 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from Operating Activities | ||
Net loss | $ (669,982) | $ (521,874) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 25,956 | 19,772 |
Changes in operating assets and liabilities: | ||
Inventory | (14,700) | |
Prepaid expense and other current assets | (95,420) | (1,272) |
Accounts payable and accrued expenses | 106,952 | (8,609) |
Accrued interest – related parties | 1,553 | 1,143 |
Accounts payable – related party | 144,426 | |
Customer deposits | 124,833 | |
Net cash used in operating activities | (520,808) | (366,414) |
Cash flows from Investing Activities | ||
Investment in patents | (100,644) | (4,497) |
Capital expenditures | (47,686) | (7,081) |
Net cash used in investing activities | (148,330) | (11,578) |
Cash flows from Financing Activities | ||
Cash received from stock subscription | 80,574 | |
Proceeds from private placement offering | 332,125 | |
Advance from related party | 187,500 | |
Proceeds from convertible note payable - related party | 262,500 | |
Net cash provided by financing activities | 782,125 | 80,574 |
Net change in cash | 112,987 | (297,418) |
Cash and cash equivalents at beginning of period | 21,138 | 318,556 |
Cash and cash equivalents at end of period | 134,125 | 21,138 |
Supplemental Cash Flow Information | ||
Cash paid for interest | 1,318 | 910 |
Cash paid for income taxes | ||
Non-Cash Transactions | ||
Conversion of accounts payable - related party to convertible note payable – related party | 144,426 | |
Conversion of notes payable - related party to convertible note payable – related party | $ 384,555 |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. Organization and Business Amarillo Biosciences, Inc. (the "Company” or “ABI”), a Texas corporation formed in 1984, The Medical Division is preparing to deploy diabetic treatment centers in Taiwan beginning sometime in the third 2017. 1 2 Going Concern These financial statements have been prepared in accordance with United States generally accepted accounting principles, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has not yet achieved operating income, and its operations are funded primarily from debt and equity financings. However, losses are anticipated in the ongoing development of its business and there can be no assurance that the Company will be able to achieve or maintain profitability. The continuing operations of the Company and the recoverability of the carrying value of assets is dependent upon the ability of the Company to obtain necessary financing to fund its working capital requirements, and upon future profitable operations. The accompanying financial statements do not include any adjustments relative to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty. There can be no assurance that capital will be available as necessary to meet the Company's working capital requirements or, if the capital is available, that it will be on terms acceptable to the Company. The issuances of additional equity securities by the Company may may may Fair Value of Financial Instruments Under the Financial Account Standards Board Accounting Standards Codification (“FASB ASC”), we are permitted to elect to measure financial instruments and certain other items at fair value, with the change in fair value recorded in earnings. We elected not to measure any eligible items using the fair value option. Consistent with Fair Value Measurement Topic of the FASB ASC, we implemented guidelines relating to the disclosure of our methodology for periodic measurement of our assets and liabilities recorded at fair market value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three 1 3 ● Level 1, ● Level 2, ● Level 3, one Our Level 1 Stock-Based Compensation Stock-based compensation expense is recorded in accordance with FASB ASC Topic 718, Compensation – Stock Compensation Cash and Cash Equivalents The Company classifies investments as cash equivalents if the original maturity of an investment is three Allowance for Doubtful Accounts The Company establishes an allowance for doubtful accounts to ensure trade and notes receivable are not overstated due to uncollectability. The Company’s allowance is based on a variety of factors, including age of the receivable, significant one December 31, 2016 2015. 2016. Inventory Inventories are stated at the lower of cost or market. Cost is determined on a first first December 31, 2016 2015, $14,700 $0, Property and Equipment Property and equipment are stated on the basis of historical cost less accumulated depreciation. Depreciation is provided using the straight-line method over the two seven Patents and Patent Expenditures ABI holds patent license agreements and holds patents that are owned by the Company. All patent license agreements remain in effect over the life of the underlying patents. Accordingly, the patent license fee is being amortized over the estimated life of the patent using the straight-line method. Patent fees and legal fees associated with the issuance of new owned patents are capitalized and amortized over the estimated 15 20 may Long-lived Assets Impairment losses are recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amount. No impairment losses have been recorded since inception. Income Taxes The asset and liability approach is used to account for income taxes by recognizing deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. The Company records a valuation allowance to reduce the deferred tax assets to the amount that is more likely than not to be realized. Research and Development Research and development costs are expensed as incurred. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Basic and Diluted Net Income ( Loss ) Per Share Net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding. For the year ended December 31, 2016 2015, Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentration of credit risk consist principally of cash. The Company has cash balances in a single financial institution which, from time to time, could exceed the federally insured limit of $250,000. Recent Accounting Pronouncements Management does not anticipate that any recently issued but not yet effective accounting pronouncements will materially impact the Company’s financial condition. |
Note 2 - Property, Equipment an
Note 2 - Property, Equipment and Software, Net | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 2 . Property, Equipment and Software , net Property, equipment and software are stated at cost less accumulated depreciation and consist of the following at December 31, 2016 2015: 2016 2015 Furniture and equipment $ 92,988 $ 45,302 Software 8,012 8,012 101,000 53,314 Less: accumulated depreciation (56,786 ) (47,516 ) Property, equipment and software, net $ 44,214 $ 5,798 Depreciation expense amounted to $9,270 December 31, 2016 $1,283 December 31, 2015 |
Note 3 - Patents, Net
Note 3 - Patents, Net | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 3 . Patents, net Patents are stated at cost less accumulated amortization and consist of the following at December 31, 2016 2015: 2016 2015 Patents $ 289,228 $ 188,584 Less: accumulated amortization (133,165 ) (116,479 ) Patents, net $ 156,063 $ 72,105 Amortization expense amounted to $16,686 December 31, 2016 $18,489 December 31, 2015, Estimated future amortization expense is as follows: 2017 $ 16,807 2018 15,444 2019 9,793 2020 6,584 2021 4,379 Thereafter 103,056 Total expense $ 156,063 |
Note 4 - Notes Payable - Relate
Note 4 - Notes Payable - Related Party | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 4 . Notes Payable - Related Part y 2016 2015 Note payable – related party $ - $ 234,555 Note payable – related party - 150,000 - 384,555 Less: current portion - (384,555 ) Notes payable – related party, long term $ - $ - On November 20, 2014, $150,000, 13 0029795076). four (4) September 1, 2015, September 1, 2018, first September 1, 2015, $37,811 no Subsequent to consummation of the Plan, The Yang Group provided $234,555 June 30, 2016, two one .64% $.1875 $384,555 June 30, 2016. #13 0029795076) 3 |
Note 5 - Convertible Notes Paya
Note 5 - Convertible Notes Payable - Related Party | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Convertible Debt [Text Block] | 5. Notes Payable – Related Party 2016 2015 Convertible Note payable – related party $ 144,426 $ - Convertible Note payable – related party 262,500 - Convertible Note payable – related party 384,555 - Convertible Notes payable – related party $ 791,481 $ - During the fiscal year ended December 31, 2016, $144,426 January 11, 2016, .75%, may $.168 On March 18, 2016, $262,500 2016 1 March 10, 2016). .65% $.1875 On June 30, 2016, $384,555 two Related Party. The Convertible Note is due on demand, is unsecured, bears interest at the Short-Term Applicable Federal Rate of .64% $.1875 |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 6. Related Party Transactions On April 4, 2016, $75,000 January 18, 2016 March 18, 2016, On May 23, 2016, $3,000,681 ($91,968 may one (1%) December 31, 2016, $54,133 $37,835, $546 2016. During the year ended December 31, 2016, $17,929 Hidden Valley Herbs of Kentucky, which is owned and operated by ABI Director and Stockholder Paul Tibbits. On November 7, 2016, $124,833 January 13, 2017. In April 2016, $187,500 1,000,000 2016 2). December 31, 2016, On December 20, 2016, $25,000 $37,500. $12,500 $5,000. December 30, 2016 December 31, 2016. January 3, 2017. December 2016. |
Note 7 - Common Stock
Note 7 - Common Stock | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 7. The Company has 100,000,000 December 31, 2016, 26,226,782 (21,916,143) (4,310,639). On March 10, 2016, 5,000,000 2016 2) $.1875 $937,500). During the second 2016, $234,375 1,250,000 2016 2 5,000,000 $.1875 May 6, 2016. July 11, 2016, 1,250,000 On September 30, 2016, 2016 2 2016 2 10,000,000 $.1875 $1,875,000. one (1) fourth 2016, 521,333 $.1875 $97,750. |
Note 8 - Preferred Stock
Note 8 - Preferred Stock | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | 8 . Preferred Stock The shareholders have authorized 10,000,000 No December 31, 2016 2015 At December 31, 2016, $34,279 11 October 31, 2013, November 20, 2014 |
Note 9 - Stock Option and Stock
Note 9 - Stock Option and Stock Plans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 9 . Stock Option and Stock Plans Stock Plans * Issue Date Range Total Shares Authorized Share s Issued Shares Remaining 2008 Stock Incentive Plan 5/23/08 – 10/11/11 600,000 463,420 136,580 * The Board of Directors has approved all stock, stock option and stock warrant issuances. |
Note 10 - Stock Options and War
Note 10 - Stock Options and Warrants | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stock Option And Warrants [Text Block] | 10 . Stock Options and Warrants Stock Options: During 2016, no no Directors, officers and consultants did not 2016 2015, A summary of the Company's stock option activity and related information for the years ended December 31, 2016 2015 December 31, 2016 December 31, 2015 Options Price Options Price Outstanding Beg. of Year 8,568 $ 0.95 81,726 $0.76 - 1.235 Granted - - - - Cancelled/Expired (8,568 ) 0.95 (73,158 ) 0.76 - 1.235 Exercised - - - - Outstanding End of Year - $ - 8,568 $0.95 Exercisable End of Year - $ - 8,568 $0.95 Stock Warrant s: A summary of the Company's stock warrant activity and related information for the years ended December 31, 2016 2015 December 31, 2016 December 31, 2015 Warrants Price Warrants Price Outstanding Beg. of Year - $ - 52,632 $ 0.57 Granted - - - - Cancelled/Expired - - (52,632 ) 0.57 Exercised - - - - Outstanding End of Year - $ - - $ - Exercisable End of Year - $ - - $ - |
Note 11 - Income Taxes
Note 11 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 1 . Income Taxes Income tax expense (benefit) attributable to income from continuing operations differed from the amounts computed by applying the U.S. Federal income tax of 34% December 31, 2016 December 31, 2015 Provision (benefit) at statutory rate $ 228,000 $ 177,000 Change in valuation allowance (228,000 ) (177,000 ) $ 0 $ 0 The tax effects of temporary differences that give rise to significant portions of the deferred tax assets and deferred tax liabilities at December 31, 2016 2015, December 31, 2016 December 31, 2015 Deferred tax assets: Net operating loss carryforward $ 7,601,000 $ 7,373,000 Deferred tax assets 7,601,000 7,373,000 Deferred tax liabilities: - - Net deferred tax assets 7,601,000 7,373,000 Valuation allowance (7,601,000 ) (7,373,000 ) $ 0 $ 0 At December 31, 2016, $22,357,000 2016 2035. may difficult and directly dependent upon many factors outside of the Company’s control, including, but not limited to, changes in the legal and regulatory framework and the operational and corporate structure of ABI and shareholders, or sales or transfers of stock by or among shareholders. For example, if ABI has experienced a change of control as defined in the relevant provisions of the IRC, 2 2 See 26 382 382 |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 1 2 . Commitments and Contingencies Lease commitment Our executive and administrative offices are located at 4134 1,800 June 30, 2017 $1,070 December 31, 2016 2015, $12,715 $13,585 The Company shares office space with ACTS Global Healthcare, Inc. in Taipei, Taiwan. The lease expires on October 31, 2018 $70,000 December 31, 2016 2015, $41,889 $0 Litigation The Company is not a party to any litigation and is not aware of any pending litigation or unasserted claims or assessments as of December 31, 2016. Officer Compensation On December 20, 2016, January 1, 2017, $90,000 $75,000 $65,000 $10,000 15 th 31 st first first April 3, 2017. |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 1 3 . Subsequent Events In January 2017, 270,000 $.1875 $50,625. In January 2017, 164,792 $.2579 2016 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Going Concern Policy [Policy Text Block] | Going Concern These financial statements have been prepared in accordance with United States generally accepted accounting principles, on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The Company has not yet achieved operating income, and its operations are funded primarily from debt and equity financings. However, losses are anticipated in the ongoing development of its business and there can be no assurance that the Company will be able to achieve or maintain profitability. The continuing operations of the Company and the recoverability of the carrying value of assets is dependent upon the ability of the Company to obtain necessary financing to fund its working capital requirements, and upon future profitable operations. The accompanying financial statements do not include any adjustments relative to the recoverability and classification of asset carrying amounts or the amount and classification of liabilities that might result from the outcome of this uncertainty. There can be no assurance that capital will be available as necessary to meet the Company's working capital requirements or, if the capital is available, that it will be on terms acceptable to the Company. The issuances of additional equity securities by the Company may may may |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Under the Financial Account Standards Board Accounting Standards Codification (“FASB ASC”), we are permitted to elect to measure financial instruments and certain other items at fair value, with the change in fair value recorded in earnings. We elected not to measure any eligible items using the fair value option. Consistent with Fair Value Measurement Topic of the FASB ASC, we implemented guidelines relating to the disclosure of our methodology for periodic measurement of our assets and liabilities recorded at fair market value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three 1 3 ● Level 1, ● Level 2, ● Level 3, one Our Level 1 |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation Stock-based compensation expense is recorded in accordance with FASB ASC Topic 718, Compensation – Stock Compensation |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company classifies investments as cash equivalents if the original maturity of an investment is three |
Receivables, Trade and Other Accounts Receivable, Allowance for Doubtful Accounts, Policy [Policy Text Block] | Allowance for Doubtful Accounts The Company establishes an allowance for doubtful accounts to ensure trade and notes receivable are not overstated due to uncollectability. The Company’s allowance is based on a variety of factors, including age of the receivable, significant one December 31, 2016 2015. 2016. |
Inventory, Policy [Policy Text Block] | Inventory Inventories are stated at the lower of cost or market. Cost is determined on a first first December 31, 2016 2015, $14,700 $0, |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated on the basis of historical cost less accumulated depreciation. Depreciation is provided using the straight-line method over the two seven |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Patents and Patent Expenditures ABI holds patent license agreements and holds patents that are owned by the Company. All patent license agreements remain in effect over the life of the underlying patents. Accordingly, the patent license fee is being amortized over the estimated life of the patent using the straight-line method. Patent fees and legal fees associated with the issuance of new owned patents are capitalized and amortized over the estimated 15 20 may |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-lived Assets Impairment losses are recorded on long-lived assets used in operations when indicators of impairment are present and the undiscounted cash flows estimated to be generated by those assets are less than the assets' carrying amount. No impairment losses have been recorded since inception. |
Income Tax, Policy [Policy Text Block] | Income Taxes The asset and liability approach is used to account for income taxes by recognizing deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax bases of assets and liabilities. The Company records a valuation allowance to reduce the deferred tax assets to the amount that is more likely than not to be realized. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are expensed as incurred. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Net Income ( Loss ) Per Share Net income (loss) per share is computed by dividing the net income (loss) by the weighted average number of common shares outstanding. For the year ended December 31, 2016 2015, |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentration of credit risk consist principally of cash. The Company has cash balances in a single financial institution which, from time to time, could exceed the federally insured limit of $250,000. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Management does not anticipate that any recently issued but not yet effective accounting pronouncements will materially impact the Company’s financial condition. |
Note 2 - Property, Equipment 21
Note 2 - Property, Equipment and Software, Net (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2016 2015 Furniture and equipment $ 92,988 $ 45,302 Software 8,012 8,012 101,000 53,314 Less: accumulated depreciation (56,786 ) (47,516 ) Property, equipment and software, net $ 44,214 $ 5,798 |
Note 3 - Patents, Net (Tables)
Note 3 - Patents, Net (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 2016 2015 Patents $ 289,228 $ 188,584 Less: accumulated amortization (133,165 ) (116,479 ) Patents, net $ 156,063 $ 72,105 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2017 $ 16,807 2018 15,444 2019 9,793 2020 6,584 2021 4,379 Thereafter 103,056 Total expense $ 156,063 |
Note 4 - Notes Payable - Rela23
Note 4 - Notes Payable - Related Party (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | 2016 2015 Note payable – related party $ - $ 234,555 Note payable – related party - 150,000 - 384,555 Less: current portion - (384,555 ) Notes payable – related party, long term $ - $ - |
Note 5 - Convertible Notes Pa24
Note 5 - Convertible Notes Payable - Related Party (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Convertible Notes Payable, Related Parties [Table Text Block] | 2016 2015 Convertible Note payable – related party $ 144,426 $ - Convertible Note payable – related party 262,500 - Convertible Note payable – related party 384,555 - Convertible Notes payable – related party $ 791,481 $ - |
Note 9 - Stock Option and Sto25
Note 9 - Stock Option and Stock Plans (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock Plans * Issue Date Range Total Shares Authorized Share s Issued Shares Remaining 2008 Stock Incentive Plan 5/23/08 – 10/11/11 600,000 463,420 136,580 |
Note 10 - Stock Options and W26
Note 10 - Stock Options and Warrants (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Stock Plans * Issue Date Range Total Shares Authorized Share s Issued Shares Remaining 2008 Stock Incentive Plan 5/23/08 – 10/11/11 600,000 463,420 136,580 |
Stock Warrant [Member] | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | December 31, 2016 December 31, 2015 Warrants Price Warrants Price Outstanding Beg. of Year - $ - 52,632 $ 0.57 Granted - - - - Cancelled/Expired - - (52,632 ) 0.57 Exercised - - - - Outstanding End of Year - $ - - $ - Exercisable End of Year - $ - - $ - |
Employee Stock Option [Member] | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | December 31, 2016 December 31, 2015 Options Price Options Price Outstanding Beg. of Year 8,568 $ 0.95 81,726 $0.76 - 1.235 Granted - - - - Cancelled/Expired (8,568 ) 0.95 (73,158 ) 0.76 - 1.235 Exercised - - - - Outstanding End of Year - $ - 8,568 $0.95 Exercisable End of Year - $ - 8,568 $0.95 |
Note 11 - Income Taxes (Tables)
Note 11 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | December 31, 2016 December 31, 2015 Provision (benefit) at statutory rate $ 228,000 $ 177,000 Change in valuation allowance (228,000 ) (177,000 ) $ 0 $ 0 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2016 December 31, 2015 Deferred tax assets: Net operating loss carryforward $ 7,601,000 $ 7,373,000 Deferred tax assets 7,601,000 7,373,000 Deferred tax liabilities: - - Net deferred tax assets 7,601,000 7,373,000 Valuation allowance (7,601,000 ) (7,373,000 ) $ 0 $ 0 |
Note 1 - Organization and Sum28
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Inventory, Net | $ 14,700 | $ 0 |
Cash, FDIC Insured Amount | 250,000 | |
Accounts Receivable, Net | 0 | 0 |
Allowance for Doubtful Accounts Receivable | 0 | $ 0 |
Provision for Doubtful Accounts | 0 | |
Patents [Member] | ||
Impairment of Intangible Assets (Excluding Goodwill) | 0 | |
Impairment of Long-Lived Assets Held-for-use | $ 0 | |
Minimum [Member] | ||
Property, Plant and Equipment, Estimated Useful Lives | two | |
Minimum [Member] | Patents [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 15 years | |
Maximum [Member] | ||
Property, Plant and Equipment, Estimated Useful Lives | seven | |
Maximum [Member] | Patents [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 20 years |
Note 2 - Property, Equipment 29
Note 2 - Property, Equipment and Software, Net (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation | $ 9,270 | $ 1,283 |
Note 2 - Property, Equipment 30
Note 2 - Property, Equipment and Software, Net - Property, Plant and Equipment (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Property, plant and equipment, gross | $ 101,000 | $ 53,314 |
Less: accumulated depreciation | (56,786) | (47,516) |
Property, equipment and software, net | 44,214 | 5,798 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 92,988 | 45,302 |
Software and Software Development Costs [Member] | ||
Property, plant and equipment, gross | $ 8,012 | $ 8,012 |
Note 3 - Patents, Net (Details
Note 3 - Patents, Net (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Amortization of Intangible Assets | $ 16,686 | $ 18,489 |
Note 3 - Patents, Net - Patents
Note 3 - Patents, Net - Patents (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Patents | $ 156,063 | $ 72,105 |
Patents, net | 156,063 | |
Patents [Member] | ||
Patents | 289,228 | 188,584 |
Less: accumulated amortization | (133,165) | (116,479) |
Patents, net | $ 156,063 | $ 72,105 |
Note 3 - Patents, Net - Estimat
Note 3 - Patents, Net - Estimated Future Amortization Expense (Details) | Dec. 31, 2016USD ($) |
2,017 | $ 16,807 |
2,018 | 15,444 |
2,019 | 9,793 |
2,020 | 6,584 |
2,021 | 4,379 |
Thereafter | 103,056 |
Total expense | $ 156,063 |
Note 4 - Notes Payable - Rela34
Note 4 - Notes Payable - Related Party (Details Textual) | Apr. 04, 2016USD ($) | Sep. 01, 2015USD ($) | Nov. 21, 2014USD ($) | Nov. 20, 2014USD ($) | Mar. 18, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Jun. 30, 2016USD ($)$ / shares |
Notes Payable, Related Parties | $ 384,555 | ||||||||
Proceeds from Related Party Debt | 187,500 | ||||||||
Notes Payable, Convertible, Related Parties, Classified Current | 791,481 | 791,481 | |||||||
Chief Executive Officer [Member] | |||||||||
Number of Installments | 4 | ||||||||
Debt Instrument, Periodic Payment | $ 37,811 | ||||||||
Repayments of Related Party Debt | $ 75,000 | 0 | |||||||
Proceeds from Related Party Debt | $ 234,555 | $ 75,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.64% | ||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.1875 | ||||||||
Notes Payable, Convertible, Related Parties, Classified Current | $ 384,555 | ||||||||
Chief Executive Officer [Member] | Secured Debt [Member] | |||||||||
Notes Payable, Related Parties | $ 150,000 | $ 150,000 |
Note 4 - Notes Payable - Rela35
Note 4 - Notes Payable - Related Party - Related Party Transactions (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Nov. 20, 2014 |
Note payable – related party | $ 384,555 | ||
Less: current portion | (384,555) | ||
Notes payable – related party, long term | 0 | 0 | |
Chief Executive Officer [Member] | Unsecured Debt [Member] | |||
Note payable – related party | 234,555 | ||
Chief Executive Officer [Member] | Secured Debt [Member] | |||
Note payable – related party | $ 150,000 | $ 150,000 |
Note 5 - Convertible Notes Pa36
Note 5 - Convertible Notes Payable - Related Party (Details Textual) - USD ($) | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 18, 2016 | Dec. 31, 2015 |
Notes Payable, Convertible, Related Parties, Classified Current | $ 791,481 | |||
Chief Executive Officer [Member] | ||||
Notes Payable, Convertible, Related Parties, Classified Current | $ 384,555 | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.64% | |||
Debt Instrument, Convertible, Conversion Price | $ 0.1875 | |||
Chief Executive Officer [Member] | First Issuance [Member] | ||||
Notes Payable, Convertible, Related Parties, Classified Current | $ 144,426 | |||
Debt Instrument, Interest Rate, Stated Percentage | 0.75% | |||
Debt Instrument, Convertible, Conversion Price | $ 0.168 | |||
Chief Executive Officer [Member] | Second Issuance [Member] | Private Placement Convertible Promissory Notes [Member] | ||||
Notes Payable, Convertible, Related Parties, Classified Current | $ 262,500 | $ 262,500 | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.65% | |||
Debt Instrument, Convertible, Conversion Price | $ 0.1875 | |||
Chief Executive Officer [Member] | Third Issuance [Member] | ||||
Notes Payable, Convertible, Related Parties, Classified Current | $ 384,555 | $ 384,555 | ||
Debt Instrument, Interest Rate, Stated Percentage | 0.64% | |||
Debt Instrument, Convertible, Conversion Price | $ 0.1875 |
Note 5 - Convertible Notes Pa37
Note 5 - Convertible Notes Payable - Related Party - Convertible Notes Payable (Details) - USD ($) | Dec. 31, 2016 | Jun. 30, 2016 | Mar. 18, 2016 | Dec. 31, 2015 |
Convertible note payable – related party | $ 791,481 | |||
Chief Executive Officer [Member] | ||||
Convertible note payable – related party | $ 384,555 | |||
Chief Executive Officer [Member] | First Issuance [Member] | ||||
Convertible note payable – related party | 144,426 | |||
Chief Executive Officer [Member] | Second Issuance [Member] | Private Placement Convertible Promissory Notes [Member] | ||||
Convertible note payable – related party | 262,500 | $ 262,500 | ||
Chief Executive Officer [Member] | Third Issuance [Member] | ||||
Convertible note payable – related party | $ 384,555 | $ 384,555 |
Note 6 - Related Party Transa38
Note 6 - Related Party Transactions (Details Textual) | Dec. 20, 2016USD ($) | Nov. 07, 2016USD ($) | May 23, 2016USD ($) | May 23, 2016TWD | Apr. 04, 2016USD ($) | Nov. 21, 2014USD ($) | Apr. 30, 2016USD ($)shares | Mar. 18, 2016USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) |
Proceeds from Related Party Debt | $ 187,500 | ||||||||||
Allocated Share-based Compensation Expense | 0 | ||||||||||
Chief Executive Officer [Member] | |||||||||||
Proceeds from Related Party Debt | $ 234,555 | $ 75,000 | |||||||||
Repayments of Related Party Debt | $ 75,000 | $ 0 | |||||||||
Allocated Share-based Compensation Expense | $ 37,500 | ||||||||||
Chief Executive Officer [Member] | Cash Bonus [Member] | |||||||||||
Officers' Compensation | 25,000 | ||||||||||
ACTS Global Healthcare, Inc. [Member] | |||||||||||
Payments for Advance to Affiliate | $ 91,968 | TWD 3,000,681 | |||||||||
Percentage to be Paid to Affiliate for Services Rendered | 1.00% | 1.00% | |||||||||
Prepaid Expense, Current | 37,835 | $ 37,835 | |||||||||
Agency Fee | 546 | ||||||||||
ACTS Global Healthcare, Inc. [Member] | Expenditures by ACTS Global [Member] | |||||||||||
Related Party Transaction, Amounts of Transaction | 54,133 | ||||||||||
Hidden Valley Herbs of Kentucky [Member] | Ginseng [Member] | |||||||||||
Related Party Transaction, Purchases from Related Party | $ 17,929 | ||||||||||
Investor Related to Amarillo Biosciences (Hong Kong) Ltd. [Member] | Medical Equipment [Member] | |||||||||||
Proceeds from Deposits from Customers | $ 124,833 | ||||||||||
Investor Related to Amarillo Biosciences (Hong Kong) Ltd. [Member] | Proceeds Received In Exchange for Potential Issuance of Common Stock [Member] | |||||||||||
Related Party Transaction, Amounts of Transaction | $ 187,500 | ||||||||||
Investor Related to Amarillo Biosciences (Hong Kong) Ltd. [Member] | Potentially Issuable Common Stock For Cash [Member] | |||||||||||
Stock Issuable Upon Receipt of Private Placement Memorandum | shares | 1,000,000 | ||||||||||
Chief Financial Officer [Member] | |||||||||||
Allocated Share-based Compensation Expense | 5,000 | ||||||||||
Chief Financial Officer [Member] | Cash Bonus [Member] | |||||||||||
Officers' Compensation | $ 12,500 |
Note 7 - Common Stock (Details
Note 7 - Common Stock (Details Textual) - USD ($) | Jul. 11, 2016 | Mar. 10, 2016 | Dec. 31, 2016 | Jun. 30, 2016 | Sep. 30, 2016 | Dec. 31, 2016 | Dec. 31, 2015 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | 100,000,000 | ||||
Common Stock, Shares Outstanding and Reserved | 26,226,782 | 26,226,782 | |||||
Common Stock, Shares, Outstanding | 21,916,143 | 21,916,143 | 20,144,810 | ||||
Shares Authorized During Period, Private Placement | 1,250,000 | ||||||
Amount of Private Placement | $ 937,500 | $ 1,875,000 | |||||
Proceeds from Issuance of Private Placement | $ 234,375 | $ 332,125 | |||||
Private Placement [Member] | |||||||
Sale of Stock, Price Per Share | $ 0.1875 | $ 0.1875 | |||||
Proceeds from Issuance of Private Placement | $ 97,750 | ||||||
Stock Issued During Period, Shares, New Issues | 1,250,000 | 521,333 | |||||
Share Price | $ 0.1875 | ||||||
Shares Issued, Price Per Share | $ 0.1875 | $ 0.1875 | |||||
Maximum [Member] | |||||||
Shares Authorized During Period, Private Placement | 5,000,000 | 10,000,000 | |||||
Debt Convertible to Common Stock [Member] | |||||||
Common Stock, Capital Shares Reserved for Future Issuance | 4,310,639 | 4,310,639 |
Note 8 - Preferred Stock (Detai
Note 8 - Preferred Stock (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Amount of Preferred Dividends in Arrears | $ 34,279 | |
Preferred Stock, Shares Outstanding | 0 | 0 |
Note 9 - Stock Option and Sto41
Note 9 - Stock Option and Stock Plans - Stock Option Plan Summary (Details) - 2008 Stock Incentive Plan [Member] | 12 Months Ended | |
Dec. 31, 2016shares | [1] | |
Total Shares Authorized (in shares) | 600,000 | |
Shares Issued (in shares) | 463,420 | |
Shares Remaining (in shares) | 136,580 | |
[1] | The Board of Directors has approved all stock, stock option and stock warrant issuances. |
Note 10 - Stock Options and W42
Note 10 - Stock Options and Warrants (Details Textual) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | |
Allocated Share-based Compensation Expense | $ 0 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 |
Note 10 - Stock Options and W43
Note 10 - Stock Options and Warrants - Stock Option Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding Beg. of Year, Shares (in shares) | 8,568 | 81,726 |
Outstanding Beg. of Year, Price (in dollars per share) | $ 0.95 | |
Cancelled/Expired, Shares (in shares) | (8,568) | (73,158) |
Cancelled/Expired, Price (in dollars per share) | $ 0.95 | |
Outstanding End of Year, Shares (in shares) | 8,568 | |
Outstanding End of Year, Price (in dollars per share) | $ 0.95 | |
Exercisable End of Year, Shares (in shares) | 8,568 | |
Exercisable End of Year, Price (in dollars per share) | $ 0.95 | |
Minimum [Member] | ||
Outstanding Beg. of Year, Price (in dollars per share) | 0.76 | |
Cancelled/Expired, Price (in dollars per share) | 0.76 | |
Maximum [Member] | ||
Outstanding Beg. of Year, Price (in dollars per share) | 1.235 | |
Cancelled/Expired, Price (in dollars per share) | $ 1.235 |
Note 10 - Stock Options and W44
Note 10 - Stock Options and Warrants - Stock Warrant Activity (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding Beg. of Year, Warrants (in shares) | 52,632 | |
Outstanding Beg. of Year, Warrants Price (in dollars per share) | $ 0.57 | |
Granted, Warrants (in shares) | ||
Granted, Warrants Price (in dollars per share) | ||
Cancelled/Expired, Warrants (in shares) | (52,632) | |
Cancelled/Expired, Warrants Price (in dollars per share) | $ 0.57 | |
Exercised, Warrants Price (in dollars per share) | ||
Outstanding End of Year, Warrants (in shares) | ||
Outstanding End of Year, Warrants Price (in dollars per share) | ||
Exercisable End of Year, Warrants (in shares) | ||
Exercisable End of Year, Warrants Price (in dollars per share) |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) | 12 Months Ended |
Dec. 31, 2016USD ($) | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% |
Operating Loss Carryforwards | $ 22,357,000 |
Note 11 - Income Taxes - Income
Note 11 - Income Taxes - Income Tax Expense (Benefit) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Provision (benefit) at statutory rate | $ 228,000 | $ 177,000 |
Change in valuation allowance | (228,000) | (177,000) |
$ 0 | $ 0 |
Note 11 - Income Taxes - Deferr
Note 11 - Income Taxes - Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Net operating loss carryforward | $ 7,601,000 | $ 7,373,000 |
Deferred tax assets | 7,601,000 | 7,373,000 |
Deferred tax liabilities: | ||
Net deferred tax assets | 7,601,000 | 7,373,000 |
Valuation allowance | (7,601,000) | (7,373,000) |
$ 0 | $ 0 |
Note 12 - Commitments and Con48
Note 12 - Commitments and Contingencies (Details Textual) | Dec. 20, 2016USD ($) | Dec. 31, 2016USD ($)ft² | Dec. 31, 2015USD ($) |
Chief Executive Officer [Member] | |||
Officer Compensation, Annual Compensation, Cash | $ 90,000 | ||
Officer Compensation, Annual Compensation, Share Value | 75,000 | ||
Chief Financial Officer [Member] | |||
Officer Compensation, Annual Compensation, Cash | 65,000 | ||
Officer Compensation, Annual Compensation, Share Value | $ 10,000 | ||
Executive and Administrative Offices [Member] | |||
Area of Real Estate Property | ft² | 1,800 | ||
Operating Leases Rent Expense Monthly Amount | $ 1,070 | ||
Operating Leases, Rent Expense | 12,715 | $ 13,585 | |
Shared Office Space with ACTS Global Healthcare, Inc. in Taipei, Taiwan [Member] | |||
Operating Leases Rent Expense Monthly Amount | 70,000 | ||
Operating Leases, Rent Expense | $ 41,889 | $ 0 |
Note 13 - Subsequent Events (De
Note 13 - Subsequent Events (Details Textual) - Subsequent Event [Member] | 1 Months Ended |
Jan. 31, 2017USD ($)$ / sharesshares | |
Stock Issued During Period, Shares, New Issues | shares | 270,000 |
Shares Issued, Price Per Share | $ / shares | $ 0.1875 |
Proceeds from Issuance of Common Stock | $ | $ 50,625 |
CEO and CFO [Member] | |
Shares Issued, Price Per Share | $ / shares | $ 0.2579 |
Stock Issued During Period, Shares, Share-based Compensation, Gross | shares | 164,792 |