Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 12, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | BIO KEY INTERNATIONAL INC | |
Entity Central Index Key | 0001019034 | |
Trading Symbol | bkyi | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 14,397,015 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and cash equivalents | $ 687,023 | $ 323,943 |
Accounts receivable, net | 689,900 | 1,574,032 |
Due from factor | 138,568 | 56,682 |
Inventory | 1,011,703 | 998,829 |
Resalable software license rights | 1,125,000 | 1,125,000 |
Prepaid expenses and other | 161,997 | 150,811 |
Total current assets | 3,814,191 | 4,229,297 |
Resalable software license rights, net of current portion | 6,193,417 | 6,790,610 |
Equipment and leasehold improvements, net | 137,458 | 148,608 |
Capitalized contract costs, net | 278,286 | 319,199 |
Deposits and other assets | 8,712 | 8,712 |
Operating lease right-of-use assets | 532,757 | 0 |
Intangible assets, net | 191,014 | 195,906 |
Total non-current assets | 7,341,644 | 7,463,035 |
TOTAL ASSETS | 11,155,835 | 11,692,332 |
LIABILITIES | ||
Accounts payable | 864,879 | 481,269 |
Accounts payable – related party | 142,623 | 0 |
Accrued liabilities | 714,250 | 548,232 |
Convertible notes payable, net of debt discount and debt issuance costs | 541,667 | |
Deferred revenue | 294,261 | 196,609 |
Operating lease liabilities, current portion | 141,068 | 0 |
Total current liabilities | 2,698,748 | 1,226,110 |
Operating lease liabilities, net of current portion | 383,028 | 0 |
Total non-current liabilities | 383,028 | 0 |
TOTAL LIABILITIES | 3,081,776 | 1,226,110 |
Commitments | ||
STOCKHOLDERS’ EQUITY | ||
Common stock — authorized, 170,000,000 shares; issued and outstanding; 14,295,923 and 13,977,868 of $.0001 par value at June 30, 2019 and December 31, 2018, respectively | 1,429 | 1,398 |
Additional paid-in capital | 86,436,197 | 85,599,140 |
Accumulated deficit | (78,363,567) | (75,134,316) |
TOTAL STOCKHOLDERS’ EQUITY | 8,074,059 | 10,466,222 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 11,155,835 | $ 11,692,332 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2019 | Dec. 31, 2018 |
Common stock, shares authorized (in shares) | 170,000,000 | 170,000,000 |
Common stock, shares issued (in shares) | 14,295,923 | 13,977,868 |
Common stock, shares outstanding (in shares) | 14,295,923 | 13,977,868 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenues | ||||
Revenue | $ 728,383 | $ 748,141 | $ 1,280,006 | $ 1,589,596 |
Costs and other expenses | ||||
Costs and other expenses | 679,426 | 1,029,803 | 1,283,476 | 2,209,248 |
Gross profit (loss) | 48,957 | (281,662) | (3,470) | (619,652) |
Operating Expenses | ||||
Selling, general and administrative | 1,058,671 | 1,076,184 | 2,435,704 | 2,538,038 |
Research, development and engineering | 301,217 | 297,633 | 675,335 | 689,787 |
Total Operating Expenses | 1,359,888 | 1,373,817 | 3,111,039 | 3,227,825 |
Operating loss | (1,310,931) | (1,655,479) | (3,114,509) | (3,847,477) |
Other income (expense) | ||||
Interest income | 54 | 14 | 124 | 21 |
Interest expense | (114,866) | (114,866) | ||
Total other income (expense), net | (114,812) | 14 | (114,742) | 21 |
Net loss | (1,425,743) | (1,655,465) | (3,229,251) | (3,847,456) |
Convertible preferred stock dividends | (41,870) | (198,033) | ||
Net loss available to common stockholders | $ (1,425,743) | $ (1,697,335) | $ (3,229,251) | $ (4,045,489) |
Basic and diluted loss per common share attributable to common stockholders (in dollars per share) | $ (0.10) | $ (0.15) | $ (0.23) | $ (0.42) |
Weighted Average Common Shares Outstanding: | ||||
Basic and diluted (in shares) | 14,117,062 | 11,375,320 | 14,048,570 | 9,623,151 |
Service [Member] | ||||
Revenues | ||||
Revenue | $ 231,993 | $ 249,121 | $ 473,603 | $ 551,570 |
Costs and other expenses | ||||
Costs and other expenses | 58,421 | 120,841 | 149,250 | 275,573 |
License [Member] | ||||
Revenues | ||||
Revenue | 60,300 | 154,251 | 143,508 | 256,970 |
Costs and other expenses | ||||
Costs and other expenses | 372,327 | 766,637 | 749,543 | 1,540,102 |
Hardware [Member] | ||||
Revenues | ||||
Revenue | 436,090 | 344,769 | 662,895 | 781,056 |
Costs and other expenses | ||||
Costs and other expenses | $ 248,678 | $ 142,325 | $ 384,683 | $ 393,573 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Preferred Stock [Member]Series A-1 Convertible Preferred Stock [Member] | Preferred Stock [Member]Series B-1 Convertible Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Series A-1 Convertible Preferred Stock [Member] | Series B-1 Convertible Preferred Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 62,596 | 105,000 | 7,691,324 | 62,596 | 105,000 | |||
Balance at Dec. 31, 2017 | $ 6 | $ 11 | $ 769 | $ 80,829,001 | $ (67,076,492) | $ 13,753,295 | ||
Issuance of common stock for directors’ fees (in shares) | 8,421 | |||||||
Issuance of common stock for directors’ fees | $ 1 | 16,512 | 16,513 | |||||
Share-based compensation | 533,421 | 533,421 | ||||||
Net loss | (2,191,992) | (2,191,992) | ||||||
Adoption of ASC 606 | 240,017 | 240,017 | ||||||
Dividends declared on preferred stock | (156,162) | (156,162) | ||||||
Conversion of B-1 preferred stock to common stock (in shares) | (60,420) | 1,678,334 | ||||||
Conversion of B-1 preferred stock to common stock | $ (6) | $ 168 | (162) | |||||
Conversion of dividends payable on B-1 preferred stock (in shares) | 115,857 | |||||||
Conversion of dividends payable on B-1 preferred stock | $ 11 | 417,072 | 417,083 | |||||
Balance (in shares) at Mar. 31, 2018 | 62,596 | 44,580 | 9,493,936 | |||||
Balance at Mar. 31, 2018 | $ 6 | $ 5 | $ 949 | 81,639,682 | (69,028,467) | 12,612,175 | ||
Balance (in shares) at Dec. 31, 2017 | 62,596 | 105,000 | 7,691,324 | 62,596 | 105,000 | |||
Balance at Dec. 31, 2017 | $ 6 | $ 11 | $ 769 | 80,829,001 | (67,076,492) | 13,753,295 | ||
Net loss | (3,847,456) | |||||||
Balance (in shares) at Jun. 30, 2018 | 12,587,997 | |||||||
Balance at Jun. 30, 2018 | $ 1,259 | 82,143,199 | (70,683,931) | 11,460,527 | ||||
Balance (in shares) at Mar. 31, 2018 | 62,596 | 44,580 | 9,493,936 | |||||
Balance at Mar. 31, 2018 | $ 6 | $ 5 | $ 949 | 81,639,682 | (69,028,467) | 12,612,175 | ||
Issuance of common stock for directors’ fees (in shares) | 2,683 | |||||||
Issuance of common stock for directors’ fees | $ 1 | 6,508 | 6,509 | |||||
Share-based compensation | 143,034 | 143,034 | ||||||
Net loss | (1,655,465) | (1,655,465) | ||||||
Dividends declared on preferred stock | (41,871) | (41,871) | ||||||
Conversion of B-1 preferred stock to common stock (in shares) | (44,580) | 1,238,334 | ||||||
Conversion of B-1 preferred stock to common stock | $ (5) | $ 123 | (118) | |||||
Conversion of dividends payable on B-1 preferred stock (in shares) | 15,373 | |||||||
Conversion of dividends payable on B-1 preferred stock | $ 2 | 55,339 | 55,341 | |||||
Conversion of A-1 preferred stock to common stock (in shares) | (62,596) | 1,738,778 | ||||||
Conversion of A-1 preferred stock to common stock | $ (6) | $ 174 | (168) | |||||
Conversion of dividends payable on A-1 preferred stock (in shares) | 98,893 | |||||||
Conversion of dividends payable on A-1 preferred stock | $ 10 | 356,005 | 356,015 | |||||
Legal fees | (15,212) | (15,212) | ||||||
Rounding | 1 | 1 | ||||||
Balance (in shares) at Jun. 30, 2018 | 12,587,997 | |||||||
Balance at Jun. 30, 2018 | $ 1,259 | 82,143,199 | (70,683,931) | 11,460,527 | ||||
Balance (in shares) at Dec. 31, 2018 | 13,977,868 | |||||||
Balance at Dec. 31, 2018 | $ 1,398 | 85,599,140 | (75,134,316) | 10,466,222 | ||||
Issuance of common stock for directors’ fees (in shares) | 13,820 | |||||||
Issuance of common stock for directors’ fees | $ 1 | 16,505 | 16,506 | |||||
Share-based compensation | 509,528 | 509,528 | ||||||
Net loss | (1,803,508) | (1,803,508) | ||||||
Balance (in shares) at Mar. 31, 2019 | 13,991,688 | |||||||
Balance at Mar. 31, 2019 | $ 1,399 | 86,125,173 | (76,937,824) | 9,188,748 | ||||
Balance (in shares) at Dec. 31, 2018 | 13,977,868 | |||||||
Balance at Dec. 31, 2018 | $ 1,398 | 85,599,140 | (75,134,316) | 10,466,222 | ||||
Net loss | (3,229,251) | |||||||
Balance (in shares) at Jun. 30, 2019 | 14,295,923 | |||||||
Balance at Jun. 30, 2019 | $ 1,429 | 86,436,197 | (78,363,567) | 8,074,059 | ||||
Balance (in shares) at Mar. 31, 2019 | 13,991,688 | |||||||
Balance at Mar. 31, 2019 | $ 1,399 | 86,125,173 | (76,937,824) | 9,188,748 | ||||
Issuance of common stock for directors’ fees (in shares) | 4,235 | |||||||
Issuance of common stock for directors’ fees | 5,505 | 5,505 | ||||||
Share-based compensation | 125,549 | 125,549 | ||||||
Net loss | (1,425,743) | $ (1,425,743) | ||||||
Issuance of common stock for commitment fees (in shares) | 300,000 | 300,000 | ||||||
Issuance of common stock for commitment fees | $ 30 | 449,970 | $ 450,000 | |||||
Commitment fee adjustment | (270,000) | (270,000) | ||||||
Balance (in shares) at Jun. 30, 2019 | 14,295,923 | |||||||
Balance at Jun. 30, 2019 | $ 1,429 | $ 86,436,197 | $ (78,363,567) | $ 8,074,059 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||
Net loss | $ (3,229,251) | $ (3,847,456) |
Adjustments to reconcile net loss to net cash provided by (used for) operating activities: | ||
Depreciation | 39,903 | 44,596 |
Amortization of intangible assets | 6,628 | 8,966 |
Amortization of resalable software license rights | 562,150 | 1,318,559 |
Amortization of debt discount | 15,467 | |
Amortization of capitalized contract costs | 67,774 | 59,044 |
Amortization of debt issuance costs | 56,200 | |
Share and warrant-based compensation for employees and consultants | 635,077 | 676,454 |
Stock based directors’ fees | 22,011 | 23,021 |
Change in assets and liabilities: | ||
Accounts receivable | 884,132 | 2,424,295 |
Due from factor | (81,886) | 82,202 |
Operating leases right-of-use assets | 70,180 | |
Capitalized contract costs | (26,861) | (160,649) |
Inventory | (12,874) | 16,369 |
Resalable software license rights | 35,043 | 9,543 |
Prepaid expenses and other | (23,781) | (4,041) |
Accounts payable | 526,233 | (168,799) |
Accrued liabilities | 166,018 | (203,445) |
Deferred revenue | 97,652 | (179,683) |
Operating lease liabilities | (66,246) | |
Net cash provided by (used for) operating activities | (256,431) | 98,976 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of intangible assets | (1,736) | |
Capital expenditures | (28,753) | (68,479) |
Net cash used for investing activities | (30,489) | (68,479) |
CASH FLOW FROM FINANCING ACTIVITIES: | ||
Issuance of convertible notes | 667,000 | |
Costs to issue notes, preferred and common stock | (17,000) | (15,212) |
Net cash provided by (used for) financing activities | 650,000 | (15,212) |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 363,080 | 15,285 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 323,943 | 288,721 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 687,023 | 304,006 |
Cash paid for: | ||
Interest | ||
Income taxes | ||
Noncash investing and financing activities | ||
Accrual of unpaid dividends on preferred stock | 198,033 | |
Share based commitment fees | 180,000 | |
Debt discount issued with convertible note | 40,000 | |
Accounting Standards Update 2016-02 [Member] | ||
Noncash investing and financing activities | ||
Right-of-use asset addition under ASC 842 | 602,937 | |
Operating lease liabilities under ASC 842 | 590,342 | |
Conversion of Dividends Payable on Series A-1 Preferred Stock to Common Stock [Member] | ||
Noncash investing and financing activities | ||
Conversion of preferred dividends payable to common stock | 356,015 | |
Conversion of A1 Preferred Stock to Common Stock [Member] | ||
Noncash investing and financing activities | ||
Conversion of preferred stock to common stock | 6,259,600 | |
Conversion of Dividends Payable on Series B-1 Preferred Stock to Common Stock [Member] | ||
Noncash investing and financing activities | ||
Conversion of preferred dividends payable to common stock | 472,426 | |
Conversion of Series B-1 Shares into Common Stock [Member] | ||
Noncash investing and financing activities | ||
Conversion of preferred stock to common stock | $ 10,500,000 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Business Description and Accounting Policies [Text Block] | 1. NATURE OF BUSINESS AND BASIS OF PRESENTATION Nature of Business The Company, founded in 1993, Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the accounts of BIO-key International, Inc. and its wholly-owned subsidiary (collectively, the “Company” or “BIO-key”) and are stated in conformity with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The operating results for interim periods are not necessarily indicative of results that may be expected for any other interim period or for the full year. Pursuant to such rules and regulations, certain financial information and note disclosures normally included in the financial statements have been condensed or omitted. Significant intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all necessary adjustments, consisting only of those of a recurring nature, and disclosures to present fairly the Company’s financial position and the results of its operations and cash flows for the periods presented. The balance sheet at June 30, 2019 was derived from the audited financial statements, but does not include all of the disclosures required by accounting principles generally accepted in the United States of America. These unaudited interim condensed consolidated financial statements should be read in conjunction with the financial statements and the related notes thereto included in the Company’s Annual Report on Form 10 -K for the fiscal year ended December 31, 2018, filed with the SEC on April 1, 2019. Updated Significant Accounting Policies Leases In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2016 - 02, “Leases” (Topic 842 ), as amended (ASC 842 ). The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months and classify as either operating or finance leases. We adopted this standard effective January 1, 2019 using the modified retrospective approach for all leases entered into before the effective date. Adoption of the ASC 842 had a significant effect on our balance sheet resulting in increased non-current assets and increased current and non-current liabilities. There was no impact to retained earnings upon adoption of the new standard. We did not have any finance leases (formerly referred to as capital leases prior to the adoption of ASC 842 ), therefore there was no change in accounting treatment required. For comparability purposes, the Company will continue to comply with the previous disclosure requirements in accordance with the existing lease guidance and prior periods are not restated. The Company elected the package of practical expedients as permitted under the transition guidance, which allowed us: ( 1 ) to carry forward the historical lease classification; ( 2 ) not to reassess whether expired or existing contracts are or contain leases; and, ( 3 ) not to reassess the treatment of initial direct costs for existing leases. In accordance with ASC 842, at the inception of an arrangement, the Company determines whether the arrangement is or contains a lease based on the unique facts and circumstances present and the classification of the lease including whether the contract involves the use of a distinct identified asset, whether we obtain the right to substantially all the economic benefit from the use of the asset, and whether we have the right to direct the use of the asset. Leases with a term greater than one year are recognized on the balance sheet as right-of-use (ROU) assets, lease liabilities and, if applicable, long-term lease liabilities. The Company has elected not to recognize on the balance sheet leases with terms of one year or less under practical expedient in paragraph ASC 842 - 20 - 25 - 2. For contracts with lease and non-lease components, the Company has elected not to allocate the contract consideration and to account for the lease and non-lease components as a single lease component. Lease liabilities and their corresponding ROU assets are recorded based on the present value of lease payments over the expected lease term. The implicit rate within our operating leases are generally not determinable and, therefore, the Company uses the incremental borrowing rate at the lease commencement date to determine the present value of lease payments. The determination of the Company’s incremental borrowing rate requires judgment. The Company determines the incremental borrowing rate for each lease using our estimated borrowing rate, adjusted for various factors including level of collateralization, term and currency to align with the terms of the lease. The operating lease ROU asset also includes any lease prepayments, offset by lease incentives. An option to extend the lease is considered in connection with determining the ROU asset and lease liability when it is reasonably certain we will exercise that option. An option to terminate is considered unless it is reasonably certain we will not exercise the option. For periods prior to the adoption of ASC 842, the Company recorded rent expense based on the term of the related lease. The expense recognition for operating leases under ASC 842 is substantially consistent with prior guidance. As a result, there are no significant differences in our results of operations presented. The impact of the adoption of ASC 842 on the balance sheet was: As reported Adoption of ASC Balance December 31, 2018 842 - increase (decrease) January 1, 2019 Operating lease right-of-assets $ - $ 602,937 $ 602,937 Prepaid expenses and other $ 150,811 $ (12,595 ) $ 138,216 Total assets $ 11,692,332 $ 590,342 $ 12,282,674 Operating lease liabilities, current portion $ - $ 135,519 $ 135,519 Operating lease liabilities, net of current portion $ - $ 454,823 $ 454,823 Total liabilities $ 1,226,110 $ 590,342 $ 1,816,452 Total liabilities and stockholders’ equity $ 11,692,332 $ 590,342 $ 12,282,674 Recently Issued Accounting Pronouncements In August 2018, the FASB issued ASU No. 2018 - 15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018 - 15” ). ASU 2018 - 15 aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. The update to the standard is effective for interim and annual periods beginning after December 15, 2019, with early adoption permitted. Entities can choose to adopt the ASU 2018 - 15 prospectively or retrospectively. The Company is currently assessing the impact ASU 2018 - 15 will have on its consolidated financial statements. In June 2016, the FASB issued ASU 2016 - 13, Financial Instruments-Credit Losses (Topic 326 ), referred to herein as ASU 2016 - 13, which significantly changes how entities will account for credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. ASU 2016 - 13 replaces the existing incurred loss model with an expected credit loss model that requires entities to estimate an expected lifetime credit loss on most financial assets and certain other instruments. Under ASU 2016 - 13 credit impairment is recognized as an allowance for credit losses, rather than as a direct write-down of the amortized cost basis of a financial asset. The impairment allowance is a valuation account deducted from the amortized cost basis of financial assets to present the net amount expected to be collected on the financial asset. Once the new pronouncement is adopted by the Company, the allowance for credit losses must be adjusted for management’s current estimate at each reporting date. The new guidance provides no threshold for recognition of impairment allowance. Therefore, entities must also measure expected credit losses on assets that have a low risk of loss. For instance, trade receivables that are either current or not yet due may not require an allowance reserve under currently generally accepted accounting principles, but under the new standard, the Company will have to estimate an allowance for expected credit losses on trade receivables under ASU 2016 - 13. ASU 2016 - 13 is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2019. Early adoption is permitted. The Company is currently assessing the impact ASU 2016 - 13 will have on its condensed consolidated financial statements. Management does not believe that any other recently issued, but not yet effective, accounting standard if currently adopted would have a material effect on the accompanying consolidated financial statements. Reclassification Reclassifications occurred to certain prior year amounts in order to conform to the current year classifications including segregating the hardware revenues. The reclassifications have no effect on the reported net loss. |
Note 2 - Going Concern
Note 2 - Going Concern | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 2. GOING CONCERN The Company has incurred significant losses to date and at June 30, 2019 $78 June 30, 2019, $687,000, $324,000 December 31, 2018. The Company has financed operations in the past through access to the capital markets by issuing secured and convertible debt securities, convertible preferred stock, common stock, and through factoring receivables. The Company estimates that it currently requires approximately $537,000 If the Company is unable to generate sufficient revenue to meet its goals, it will need to obtain additional third No not The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP"), which contemplate continuation of the Company as a going concern, and assumes continuity of operations, realization of assets and the satisfaction of liabilities and commitments in the normal course of business. The matters described in the preceding paragraphs raise substantial doubt about the Company’s ability to continue as a going concern. Recoverability of a major portion of the recorded asset amounts shown in the accompanying balance sheet is dependent upon the Company’s ability to meet its financing requirements on a continuing basis, and become profitable in its future operations. The accompanying consolidated financial statements do not |
Note 3 - Revenue From Contracts
Note 3 - Revenue From Contracts With Customers | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. REVENUE FROM CONTRACTS WITH CUSTOMERS The Company adopted ASC 606 January 1, 2018 not 606, five ● Identify the contract with a customer ● Identify the performance obligations in the contract ● Determine the transaction price ● Allocate the transaction price to performance obligations in the contract ● Recognize revenue when or as the Company satisfies a performance obligation Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the three June 30, 2019 June 30, 2018: North America South America EMEA* Asia June 30, 201 9 Support and Maintenance $ 197,613 $ 5,291 $ 22,589 $ 3,500 $ 228,993 Professional services 3,000 - - - 3,000 License fees 32,800 - 27,500 - 60,300 Hardware 124,416 12,236 294,627 4,811 436,090 Total Revenues $ 357,829 $ 17,527 $ 344,716 $ 8,311 $ 728,383 North America South America EMEA* Asia June 30, 201 8 Support and Maintenance $ 225,602 $ 16 $ 12,503 $ 3,000 $ 241,121 Professional services 6,000 - 2,000 - 8,000 License fees 69,151 30,000 55,100 - 154,251 Hardware 120,496 53,040 10,298 160,935 344,769 Total Revenues $ 421,249 $ 83,056 $ 79,901 $ 163,935 $ 748,141 The following table summarizes revenue from contracts with customers for the six June 30, 2019 June 30, 2018: North America South America EMEA* Asia June 30, 201 9 Support and Maintenance $ 392,938 $ 7,407 $ 59,007 $ 8,501 $ 467,853 Professional services 3,750 - - 2,000 5,750 License fees 47,008 - 27,500 69,000 143,508 Hardware 170,398 12,636 327,545 152,316 662,895 Total Revenues $ 614,094 $ 20,043 $ 414,052 $ 231,817 $ 1,280,006 North America South America EMEA* Asia June 30, 201 8 Support and Maintenance $ 403,518 $ 16 $ 21,216 $ 16,970 $ 441,720 Professional services 107,850 - 2,000 - 109,850 License fees 130,120 30,000 96,850 - 256,970 Hardware 220,086 53,040 225,074 282,856 781,056 Total Revenues $ 861,574 $ 83,056 $ 345,140 $ 299,826 $ 1,589,596 *EMEA – Europe, Middle East, Africa All of the Company's performance obligations, and associated revenue, are generally transferred to customers at a point in time, with the exception of support and maintenance, and professional services, which are generally transferred to the customer over time. Software licenses Software license revenue consist of fees for perpetual software licenses for one Hardware Hardware revenue consists of fees for associated equipment sold with or without a software license arrangement, such as servers, locks and fingerprint readers. Customers are not third may Support and Maintenance Support and Maintenance revenue consists of fees for unspecified upgrades, telephone assistance and bug fixes. The Company satisfies its Support and Maintenance performance obligation by providing “stand-ready” assistance as required over the contract period. The Company records deferred revenue (contract liability) at time of invoice until the contracts term occurs. Revenue is recognized over time on a ratable basis over the contract term. Support and Maintenance contracts are up to one Professional Services Professional services revenues consist primarily of fees for deployment and optimization services, as well as training. The majority of the Company’s consulting contracts are billed on a time and materials basis, and revenue is recognized based on the amount billable to the customer in accordance with practical expedient ASC 606 10 55 18. Contracts with Multiple Performance Obligations Some contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The standalone selling prices are determined based on overall pricing objectives, taking into consideration market conditions and other factors, including the value of the contracts, the cloud applications sold, customer demographics, geographic locations, and the number and types of users within the contracts. The Company considered several factors in determining that control transfers to the customer upon shipment of hardware and availability of download of software. These factors include that legal title transfers to the customer, the Company has a present right to payment, and the customer has assumed the risks and rewards of ownership. Accounts receivable from customers are typically due within 30 not Costs to Obtain and Fulfill a Contract Costs to obtain and fulfill a contract are predominantly sales commissions earned by the sales force and are considered incremental and recoverable costs of obtaining a contract with a customer. These costs are deferred and then amortized over a period of benefit determined to be four Revenue recognized during the three six June 30, 2019 $34,000 $111,000 not $294,261 $196,609 June 30, 2019 December 31, 2018, Transaction Price Allocated to the Remaining Performance Obligations ASC 606 not June 30, 2019. ● The performance obligation is part of a contract that has an original expected duration of one 606 10 50 14. At June 30, 2019 one |
Note 4 - Accounts Receivable
Note 4 - Accounts Receivable | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. ACCOUNTS RECEIVABLE Accounts receivable are carried at original amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful receivables by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions. Accounts receivable are written off when deemed uncollectible. As a result of the payment delays for a large customer, the Company has reserved $1,720,000 June 30, 2019 December 31, 2018, 100% June 30, 2019 December 31, 2018 June 30, December 31, 201 9 201 8 Accounts receivable - current $ 703,685 $ 1,587,817 Accounts receivable - non current 1,720,000 1,720,000 Total accounts receivable 2,423,685 3,307,817 Allowance for doubtful accounts - current (13,785 ) (13,785 ) Allowance for doubtful accounts - non current (1,720,000 ) (1,720,000 ) Total allowance for doubtful accounts (1,733,785 ) (1,733,785 ) Accounts receivable, net of allowance for doubtful accounts $ 689,900 $ 1,574,032 |
Note 5 - Share Based Compensati
Note 5 - Share Based Compensation | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 5. SHARE BASED COMPENSATION The following table presents share-based compensation expenses included in the Company’s unaudited condensed interim consolidated statements of operations: Three Months Ended June 30, 201 9 201 8 Selling, general and administrative $ 115,526 $ 128,620 Research, development and engineering 15,528 20,922 $ 131,054 $ 149,542 Six Months Ended June 30, 201 9 201 8 Selling, general and administrative $ 568,613 $ 599,766 Research, development and engineering 88,475 99,709 $ 657,088 $ 699,475 |
Note 6 - Factoring
Note 6 - Factoring | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Factoring [Text Block] | 6. FACTORING Due from factor consisted of the following as of: June 30, December 31, 201 9 201 8 Original invoice value $ 555,075 $ 221,120 Factored amount (416,507 ) (164,438 ) Due from factor $ 138,568 $ 56,682 The Company entered into an accounts receivable factoring arrangement with a financial institution (the “Factor”) which has been extended to October 31, 2019. $150,000 35% 75% 2.75% 15% Three Months ended June 30, 201 9 201 8 Factoring fees $ 39,543 $ 12,691 Six Months ended June 30, 201 9 201 8 Factoring fees $ 92,340 $ 104,214 |
Note 7 - Inventory
Note 7 - Inventory | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 7. INVENTORY Inventory is stated at the lower of cost, determined on a first first June 30, December 31, 201 9 201 8 Finished goods $ 499,426 $ 496,358 Fabricated assemblies 512,277 502,471 Total inventory $ 1,011,703 $ 998,829 |
Note 8 - Resalable Software Lic
Note 8 - Resalable Software License Rights | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Research, Development, and Computer Software Disclosure [Text Block] | 8. RESALABLE SOFTWARE LICENSE RIGHTS On November 11, 2015, $12,000,000. 12 $1,125,000 The Company originally determined the software license rights to be a finite lived intangible asset, and estimated that the software license rights shall be economically used over a 10 fourth 2015, not January 2017. first 2017. Through 2018, 1 2 ten 3 first 4 5 10 January 1, 2019 A total of $281,250 $660,000 three June 30, 2019 2018, $174 $855, $562,500 $1,320,000 six June 30, 2019 2018, $350 $1,441 $4,761,096 $7,238,904 June 30, 2019. The Company's change in methodology was determined to be a change in accounting estimate that is effected by a change in accounting principle. Pursuant to ASC 250 10 45 17 not no The following compares line items on the statement of operations had the change in amortization methodology not As reported Prior methodology As reported Prior methodology 3 months ended 3 months ended 6 months ended 6 months ended June 30, 2019 June 30, 2019 June 30, 2019 June 30, 2019 Amortization of software license rights $ 281,076 $ 749,826 $ 562,150 $ 1,499,650 Total operating expenses $ 1,359,888 $ 1,828,638 $ 3,111,039 $ 4,048,539 Operating loss $ (1,310,931 ) $ (1,779,681 ) $ (3,114,509 ) $ (4,052,009 ) Net loss $ (1,425,743 ) $ (1,894,493 ) $ (3,229,251 ) $ (4,166,751 ) Basic & diluted loss per share $ (0.10 ) $ (0.13 ) $ (0.23 ) $ (0.29 ) On December 31, 2015, third $180,000 two $8,739 $20,642 three June 30, 2019 2018, $34,693 $8,102 $14,400 six June 30, 2019 2018, $100,487 $79,513 June 30, 2019. June 30, December 31, 201 9 201 8 Current resalable software license rights $ 1,125,000 $ 1,125,000 Non-current resalable software license rights 6,193,417 6,790,610 Total resalable software license rights $ 7,318,417 $ 7,915,610 |
Note 9 - Related Party
Note 9 - Related Party | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 9. Related Party During the six June 30, 2019, June 30, 2019 $142,623, |
Note 10 - Convertible Notes Pay
Note 10 - Convertible Notes Payable | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. Convertible NOTES PAYABLE On April 4, 2019, $550,000 November 15, 2019 $1.50 may 5% 25%. 7% $40,000 may two $550,000 45 $1,020,000. 80,000 $120,000 10,000 $15,000 November 1, 2019 On June 14, 2019, $157,000 10% November 14, 2019 $1.50 may first five 10% 30% 200,000 $30,000 180,000 Both notes were repaid on July 10, 2019. For the two second 2019, 300,000 $450,000 $180,000 $270,000 180,000 July 10, 2019. $17,000 Convertible notes payable, net of unamortized debt discount and debt issuance costs at June 30, 2019 Principal amount $ 707,000 Less unamortized debt discount (24,533 ) Less unamortized debt issuance costs (140,800 ) Notes payable, net of unamortized debt discount and debt issuance costs $ 541,667 |
Note 11 - Leases
Note 11 - Leases | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 11. LEASES The Company’s leases office space in New Jersey, Hong Kong and Minnesota with lease termination dates of 2023, 2020, 2019, 12 not 842. 3 Months ended June 30, 6 Months ended June 30, 2019 2019 Lease cost Operating lease cost $ 42,981 $ 85,962 Short-term lease cost 15,094 31,390 Sublease income - - Total lease cost $ 58,075 $ 117,352 Balance sheet information Operating ROU assets $ 532,757 Operating lease liabilities, current portion $ 141,068 Operating lease liabilities, non-current portion 383,028 Total operating lease liabilities $ 524,096 Weighted average remaining lease term (in years) – operating leases 3.90 Weighted average discount rate – operating leases 5.50 % Supplemental cash flow information related to leases were as follows, for the six June 30, 2019: Cash paid for amounts included in the measurement of operating lease liabilities $ 84,231 Maturities of operating lease liabilities were as follows: 2019 (remaining six months) $ 83,217 2020 155,682 2021 127,425 2022 131,249 2023 89,226 Total future lease payments $ 586,799 Less: imputed interest (62,703 ) Total $ 524,096 In June 2019, 5,544 1301 1160, 36 September 2019. $129,000. |
Note 12 - Earnings (Loss) Per S
Note 12 - Earnings (Loss) Per Share - Common Stock ("EPS") | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 12. EARNINGS (LOSS) PER SHARE - COMMON STOCK (“EPS”) The Company’s basic EPS is calculated using net loss available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted EPS includes the effect from potential issuance of common stock, such as stock issuable pursuant to the exercise of stock options and warrants and the assumed conversion of convertible preferred stock. The reconciliation of the numerator of the basic and diluted EPS calculations was as follows for both of the following three six June 30, 2019 2018: Three Months ended June 30, Six Months ended June 30, 201 9 201 8 201 9 201 8 Basic Numerator: Net loss $ (1,425,743 ) $ (1,655,465 ) $ (3,229,251 ) $ (3,847,456 ) Convertible preferred stock dividends - (41,870 ) - (198,033 ) Net loss available to common stockholders $ (1,425,743 ) $ (1,697,335 ) $ (3,229,251 ) $ (4,045,489 ) Items excluded from the diluted per share calculation because the exercise price was greater than the average market price of the common shares: Three Months ended June 30, Six Months ended June 30, 201 9 201 8 201 9 201 8 Stock options 1,551,349 1,366,467 1,784,183 1,445,891 Preferred stock - 1,200,767 - 2,853,513 Warrants 3,780,976 1,398,969 3,780,976 1,398,969 Convertible notes 368,952 - 278,243 - Total 5,701,277 3,966,203 5,843,402 5,698,373 The following table summarizes the weighted average securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the net losses for the three six June 30, 2019 2018: Three Months ended June 30, Six Months ended June 30, 201 9 201 8 201 9 201 8 Stock options 4,071 37,015 - 19,863 Total 4,071 37,015 - 19,863 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 13. STOCKHOLDERS’ EQUITY Preferred Stock Within the limits and restrictions provided in the Company’s Certificate of Incorporation, the Board of Directors has the authority, without further action by the shareholders, to issue up to 5,000,000 $.0001 one June 30, 2019, 100,000 1 90,000 2015 0 105,000 1 105,000 2015 0 Series A- 1 On October 22 29, 2015, 84,500 1 $100.00 $8,450,000. November 11, 2015, 5,500 1 $100.00 $550,000. Between September 22, 2017 May 31, 2018, 1 1 2,500,000 248,893 $896,015 1 As a result of the forgoing conversions, as of June 30, 2019 no 1 Overall balances and conversion of Series A- 1 Series A-1 Accrued Dividends Balance – January 1, 2017 90,000 $ 270,000 Accrual of dividends – Q1 2017 - 135,000 Accrual of dividends – Q2 2017 - 135,000 Accrual of dividends – Q3 2017 - 135,000 Conversion into common stock – September 2017 - (540,000 ) Conversion into common stock – October 2017 (27,404 ) - Accrual of dividends – Q4 2017 101,658 Balance – December 31, 2017 62,596 $ 236,658 Accrual of dividends – Q1 2018 - 93,894 Conversion into common stock – April 2018 (39,088 ) (330,552 ) Accrual of dividends – Q2 2018 (until final conversion) - 25,463 Conversion into common stock – May 2018 (23,508 ) (25,463 ) Balance – December 31, 2018 - $ - Series B- 1 On November 11, 2015, 105,000 1 $100.00 $10,500,000. Between March 23, 2018 May 23, 2018, 1 1 2,916,668 131,229 $472,426 1 As a result of the forgoing conversions, as of June 30, 2019 no 1 Overall balances and conversion of Series B- 1 Series B-1 Accrued Dividends Balance – January 1, 2017 105,000 $ 131,250 Accrual of dividends – Q1 2017 - 65,625 Accrual of dividends – Q2 2017 - 65,625 Accrual of dividends – Q3 2017 - 65,625 Accrual of dividends – Q4 2017 - 65,625 Balance – December 31, 2017 105,000 393,750 Conversion into common stock – March 2018 (60,420 ) (417,084 ) Accrual of dividends – Q1 2018 - 62,268 Accrual of dividends – Q2 2018 (until final conversion) - 16,408 Conversion into common stock – May 2018 (44,580 ) (55,342 ) Balance – December 31, 2018 - $ - Common Stock On March 21 28, 2019, 13,820 $16,506. On May 14, 2019, 4,235 $5,505. See Note 10 Securities Purchase Agreement dated November 13, 2014 Pursuant to a Securities Purchase Agreement, dated November 13, 2014, 664,584 996,877 $1,595,000. The warrants have a term of five $3.60 February 2015. $3.60 not On August 24, 2018 $1.50 996,877 2,392,502, $3.60 $1.50 $1,288,139 2018 Securities Purchase Agreement dated September 23, 2015 On September 23, 2015, 69,445 $3.60 five The warrants have customary anti-dilution protections including a "full ratchet" anti-dilution adjustment provision which are triggered in the event the Company sells or $3.60 not On August 24, 2018 $1.50 69,445 166,668, $3.60 $1.50 $140,827 2018 Issuances of Stock Options No June 30, 2019. six June 30, 2019, 235,334 three seven $1.18. $243,643 2.35%, 4.5, 0, 143%. |
Note 14 - Segment Information
Note 14 - Segment Information | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 14. SEGMENT INFORMATION The Company has determined that its continuing operations are one 49% 56% three June 30, 2019 2018, 48% 54% six June 30, 2019 2018, |
Note 15 - Fair Values of Financ
Note 15 - Fair Values of Financial Instruments | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 15. FAIR VALUES OF FINANCIAL INSTRUMENTS Cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and due from factor, are carried at, or approximate, fair value because of their short-term nature. |
Note 16 - Major Customers and A
Note 16 - Major Customers and Accounts Receivable | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 16. MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE For the three June 30, 2019 2018, two 59% 34% six June 30, 2019 2018, three 58% two 37% Two customers accounted for 90% June 30, 2019. December 31, 2018, one 70% 100% June 30, 2019 December 31, 2018, |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 17. SUBSEQUENT EVENTS On August 8, 2019, 4,425 On July 1, 2019, 10,000 April 4, 2019 Securities Purchase Agreement dated July 10, 2019 On July 10, 2019, $3,060,000 $2,550,000 $918,000 180 $1,071,000 270 12 18% 20% The Note is secured by a lien on substantially all of our assets and properties and is convertible at the option of the Investor into shares of our common stock at a fixed conversion price of $1.50 25% In connection with the closing, the Company issued a five 2,000,000 $1.50 $50,000 266,667 $400,000 Until the second 20% |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the accounts of BIO-key International, Inc. and its wholly-owned subsidiary (collectively, the “Company” or “BIO-key”) and are stated in conformity with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The operating results for interim periods are not may In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all necessary adjustments, consisting only of those of a recurring nature, and disclosures to present fairly the Company’s financial position and the results of its operations and cash flows for the periods presented. The balance sheet at June 30, 2019 not 10 December 31, 2018, April 1, 2019. |
Lessee, Leases [Policy Text Block] | Leases In February 2016, 2016 02, 842 842 12 January 1, 2019 842 no not 842 no not The Company elected the package of practical expedients as permitted under the transition guidance, which allowed us: ( 1 2 not 3 not In accordance with ASC 842, one not one 842 20 25 2. not Lease liabilities and their corresponding ROU assets are recorded based on the present value of lease payments over the expected lease term. The implicit rate within our operating leases are generally not An option to extend the lease is considered in connection with determining the ROU asset and lease liability when it is reasonably certain we will exercise that option. An option to terminate is considered unless it is reasonably certain we will not For periods prior to the adoption of ASC 842, 842 no The impact of the adoption of ASC 842 As reported Adoption of ASC Balance December 31, 2018 842 - increase (decrease) January 1, 2019 Operating lease right-of-assets $ - $ 602,937 $ 602,937 Prepaid expenses and other $ 150,811 $ (12,595 ) $ 138,216 Total assets $ 11,692,332 $ 590,342 $ 12,282,674 Operating lease liabilities, current portion $ - $ 135,519 $ 135,519 Operating lease liabilities, net of current portion $ - $ 454,823 $ 454,823 Total liabilities $ 1,226,110 $ 590,342 $ 1,816,452 Total liabilities and stockholders’ equity $ 11,692,332 $ 590,342 $ 12,282,674 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In August 2018, No. 2018 15, 2018 15” 2018 15 December 15, 2019, 2018 15 2018 15 In June 2016, 2016 13, 326 2016 13, not 2016 13 2016 13 no not may not 2016 13. 2016 13 December 15, 2019. 2016 13 Management does not not |
Reclassification, Policy [Policy Text Block] | Reclassification Reclassifications occurred to certain prior year amounts in order to conform to the current year classifications including segregating the hardware revenues. The reclassifications have no |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Basis of Presentation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block] | As reported Adoption of ASC Balance December 31, 2018 842 - increase (decrease) January 1, 2019 Operating lease right-of-assets $ - $ 602,937 $ 602,937 Prepaid expenses and other $ 150,811 $ (12,595 ) $ 138,216 Total assets $ 11,692,332 $ 590,342 $ 12,282,674 Operating lease liabilities, current portion $ - $ 135,519 $ 135,519 Operating lease liabilities, net of current portion $ - $ 454,823 $ 454,823 Total liabilities $ 1,226,110 $ 590,342 $ 1,816,452 Total liabilities and stockholders’ equity $ 11,692,332 $ 590,342 $ 12,282,674 |
Note 3 - Revenue From Contrac_2
Note 3 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | North America South America EMEA* Asia June 30, 201 9 Support and Maintenance $ 197,613 $ 5,291 $ 22,589 $ 3,500 $ 228,993 Professional services 3,000 - - - 3,000 License fees 32,800 - 27,500 - 60,300 Hardware 124,416 12,236 294,627 4,811 436,090 Total Revenues $ 357,829 $ 17,527 $ 344,716 $ 8,311 $ 728,383 North America South America EMEA* Asia June 30, 201 8 Support and Maintenance $ 225,602 $ 16 $ 12,503 $ 3,000 $ 241,121 Professional services 6,000 - 2,000 - 8,000 License fees 69,151 30,000 55,100 - 154,251 Hardware 120,496 53,040 10,298 160,935 344,769 Total Revenues $ 421,249 $ 83,056 $ 79,901 $ 163,935 $ 748,141 North America South America EMEA* Asia June 30, 201 9 Support and Maintenance $ 392,938 $ 7,407 $ 59,007 $ 8,501 $ 467,853 Professional services 3,750 - - 2,000 5,750 License fees 47,008 - 27,500 69,000 143,508 Hardware 170,398 12,636 327,545 152,316 662,895 Total Revenues $ 614,094 $ 20,043 $ 414,052 $ 231,817 $ 1,280,006 North America South America EMEA* Asia June 30, 201 8 Support and Maintenance $ 403,518 $ 16 $ 21,216 $ 16,970 $ 441,720 Professional services 107,850 - 2,000 - 109,850 License fees 130,120 30,000 96,850 - 256,970 Hardware 220,086 53,040 225,074 282,856 781,056 Total Revenues $ 861,574 $ 83,056 $ 345,140 $ 299,826 $ 1,589,596 |
Note 4 - Accounts Receivable (T
Note 4 - Accounts Receivable (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 201 9 201 8 Accounts receivable - current $ 703,685 $ 1,587,817 Accounts receivable - non current 1,720,000 1,720,000 Total accounts receivable 2,423,685 3,307,817 Allowance for doubtful accounts - current (13,785 ) (13,785 ) Allowance for doubtful accounts - non current (1,720,000 ) (1,720,000 ) Total allowance for doubtful accounts (1,733,785 ) (1,733,785 ) Accounts receivable, net of allowance for doubtful accounts $ 689,900 $ 1,574,032 |
Note 5 - Share Based Compensa_2
Note 5 - Share Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, 201 9 201 8 Selling, general and administrative $ 115,526 $ 128,620 Research, development and engineering 15,528 20,922 $ 131,054 $ 149,542 Six Months Ended June 30, 201 9 201 8 Selling, general and administrative $ 568,613 $ 599,766 Research, development and engineering 88,475 99,709 $ 657,088 $ 699,475 |
Note 6 - Factoring (Tables)
Note 6 - Factoring (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 201 9 201 8 Accounts receivable - current $ 703,685 $ 1,587,817 Accounts receivable - non current 1,720,000 1,720,000 Total accounts receivable 2,423,685 3,307,817 Allowance for doubtful accounts - current (13,785 ) (13,785 ) Allowance for doubtful accounts - non current (1,720,000 ) (1,720,000 ) Total allowance for doubtful accounts (1,733,785 ) (1,733,785 ) Accounts receivable, net of allowance for doubtful accounts $ 689,900 $ 1,574,032 |
Factoring Fees [Table Text Block] | <table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">June 30,</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">201</div><div style="display: inline; font-weight: bold;">9</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">201</div><div style="display: inline; font-weight: bold;">8</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td> </td> <td> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Factoring fees</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,543</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,691</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Six Months ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">June 30,</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">201</div><div style="display: inline; font-weight: bold;">9</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">201</div><div style="display: inline; font-weight: bold;">8</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td> </td> <td> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Factoring fees</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">92,340</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104,214</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div>" id="sjs-B5"><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Three Months ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">June 30,</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">201</div><div style="display: inline; font-weight: bold;">9</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">201</div><div style="display: inline; font-weight: bold;">8</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td> </td> <td> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Factoring fees</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">39,543</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">12,691</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div><div style="display: inline; font-family: times new roman; font-size: 10pt"><table border="0" cellpadding="0" cellspacing="0" style="; font-size: 10pt; font-family: "Times New Roman", Times, serif; text-indent: 0px; min-; min-width: 700px;"> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="6" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">Six Months ended</div></div></div> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">June 30,</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">201</div><div style="display: inline; font-weight: bold;">9</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td colspan="2" style="text-align: center; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 1px solid rgb(0, 0, 0);"> <div style=" font-family:'Times New Roman', Times, serif;font-size:10pt;margin:0pt;text-align:center;"><div style="display: inline; font-weight: bold;"><div style="display: inline; font-weight: bold;">201</div><div style="display: inline; font-weight: bold;">8</div></div></div> </td> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 1px;"> </td> </tr> <tr style="vertical-align: bottom;"> <td> </td> <td> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td> </td> <td> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td style="border-bottom: thin solid rgb(0, 0, 0);"> </td> <td> </td> </tr> <tr style="vertical-align: bottom; background-color: rgb(204, 238, 255);"> <td style="font-family: "Times New Roman", Times, serif; font-size: 10pt; width: 70%;"> <div style=" font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt;">Factoring fees</div> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">92,340</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt;"> </td> <td style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);">$</td> <td style="width: 12%; text-align: right; font-family: "Times New Roman", Times, serif; font-size: 10pt; margin-left: 0pt; border-bottom: 3px double rgb(0, 0, 0);"><div style="display: inline; font-style: italic; font-weight: inherit; font-style: normal;">104,214</div></td> <td nowrap="nowrap" style="width: 1%; font-family: "Times New Roman", Times, serif; font-size: 10pt; padding-bottom: 3px; margin-left: 0pt;"> </td> </tr> </table></div> |
Factored Accounts Receivable [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 201 9 201 8 Original invoice value $ 555,075 $ 221,120 Factored amount (416,507 ) (164,438 ) Due from factor $ 138,568 $ 56,682 |
Note 7 - Inventory (Tables)
Note 7 - Inventory (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, December 31, 201 9 201 8 Finished goods $ 499,426 $ 496,358 Fabricated assemblies 512,277 502,471 Total inventory $ 1,011,703 $ 998,829 |
Note 8 - Resalable Software L_2
Note 8 - Resalable Software License Rights (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Change in Accounting Estimate [Table Text Block] | As reported Prior methodology As reported Prior methodology 3 months ended 3 months ended 6 months ended 6 months ended June 30, 2019 June 30, 2019 June 30, 2019 June 30, 2019 Amortization of software license rights $ 281,076 $ 749,826 $ 562,150 $ 1,499,650 Total operating expenses $ 1,359,888 $ 1,828,638 $ 3,111,039 $ 4,048,539 Operating loss $ (1,310,931 ) $ (1,779,681 ) $ (3,114,509 ) $ (4,052,009 ) Net loss $ (1,425,743 ) $ (1,894,493 ) $ (3,229,251 ) $ (4,166,751 ) Basic & diluted loss per share $ (0.10 ) $ (0.13 ) $ (0.23 ) $ (0.29 ) |
Software License Rights [Table Text Block] | June 30, December 31, 201 9 201 8 Current resalable software license rights $ 1,125,000 $ 1,125,000 Non-current resalable software license rights 6,193,417 6,790,610 Total resalable software license rights $ 7,318,417 $ 7,915,610 |
Note 10 - Convertible Notes P_2
Note 10 - Convertible Notes Payable (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Convertible Debt [Table Text Block] | Principal amount $ 707,000 Less unamortized debt discount (24,533 ) Less unamortized debt issuance costs (140,800 ) Notes payable, net of unamortized debt discount and debt issuance costs $ 541,667 |
Note 11 - Leases (Tables)
Note 11 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Costs, Assets and Liabilities [Table Text Block] | 3 Months ended June 30, 6 Months ended June 30, 2019 2019 Lease cost Operating lease cost $ 42,981 $ 85,962 Short-term lease cost 15,094 31,390 Sublease income - - Total lease cost $ 58,075 $ 117,352 Balance sheet information Operating ROU assets $ 532,757 Operating lease liabilities, current portion $ 141,068 Operating lease liabilities, non-current portion 383,028 Total operating lease liabilities $ 524,096 Weighted average remaining lease term (in years) – operating leases 3.90 Weighted average discount rate – operating leases 5.50 % |
Lessee, Operating Lease, Supplemental Cash Flow Information [Table Text Block] | Cash paid for amounts included in the measurement of operating lease liabilities $ 84,231 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2019 (remaining six months) $ 83,217 2020 155,682 2021 127,425 2022 131,249 2023 89,226 Total future lease payments $ 586,799 Less: imputed interest (62,703 ) Total $ 524,096 |
Note 12 - Earnings (Loss) Per_2
Note 12 - Earnings (Loss) Per Share - Common Stock ("EPS") (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months ended June 30, Six Months ended June 30, 201 9 201 8 201 9 201 8 Basic Numerator: Net loss $ (1,425,743 ) $ (1,655,465 ) $ (3,229,251 ) $ (3,847,456 ) Convertible preferred stock dividends - (41,870 ) - (198,033 ) Net loss available to common stockholders $ (1,425,743 ) $ (1,697,335 ) $ (3,229,251 ) $ (4,045,489 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months ended June 30, Six Months ended June 30, 201 9 201 8 201 9 201 8 Stock options 1,551,349 1,366,467 1,784,183 1,445,891 Preferred stock - 1,200,767 - 2,853,513 Warrants 3,780,976 1,398,969 3,780,976 1,398,969 Convertible notes 368,952 - 278,243 - Total 5,701,277 3,966,203 5,843,402 5,698,373 Three Months ended June 30, Six Months ended June 30, 201 9 201 8 201 9 201 8 Stock options 4,071 37,015 - 19,863 Total 4,071 37,015 - 19,863 |
Note 13 - Stockholders' Equity
Note 13 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Preferred Stock and Accrued Dividends [Table Text Block] | Series A-1 Accrued Dividends Balance – January 1, 2017 90,000 $ 270,000 Accrual of dividends – Q1 2017 - 135,000 Accrual of dividends – Q2 2017 - 135,000 Accrual of dividends – Q3 2017 - 135,000 Conversion into common stock – September 2017 - (540,000 ) Conversion into common stock – October 2017 (27,404 ) - Accrual of dividends – Q4 2017 101,658 Balance – December 31, 2017 62,596 $ 236,658 Accrual of dividends – Q1 2018 - 93,894 Conversion into common stock – April 2018 (39,088 ) (330,552 ) Accrual of dividends – Q2 2018 (until final conversion) - 25,463 Conversion into common stock – May 2018 (23,508 ) (25,463 ) Balance – December 31, 2018 - $ - Series B-1 Accrued Dividends Balance – January 1, 2017 105,000 $ 131,250 Accrual of dividends – Q1 2017 - 65,625 Accrual of dividends – Q2 2017 - 65,625 Accrual of dividends – Q3 2017 - 65,625 Accrual of dividends – Q4 2017 - 65,625 Balance – December 31, 2017 105,000 393,750 Conversion into common stock – March 2018 (60,420 ) (417,084 ) Accrual of dividends – Q1 2018 - 62,268 Accrual of dividends – Q2 2018 (until final conversion) - 16,408 Conversion into common stock – May 2018 (44,580 ) (55,342 ) Balance – December 31, 2018 - $ - |
Note 1 - Nature of Business a_3
Note 1 - Nature of Business and Basis of Presentation - Adoption of ASC 842 Impact (Details) - USD ($) | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
Operating lease right-of-assets | $ 532,757 | $ 602,937 | $ 0 |
Prepaid expenses and other | 161,997 | 138,216 | 150,811 |
Total assets | 11,155,835 | 12,282,674 | 11,692,332 |
Operating lease liabilities, current portion | 141,068 | 135,519 | 0 |
Operating lease liabilities, net of current portion | 383,028 | 454,823 | 0 |
Total liabilities | 3,081,776 | 1,816,452 | 1,226,110 |
Total liabilities and stockholders’ equity | $ 11,155,835 | 12,282,674 | $ 11,692,332 |
Accounting Standards Update 2016-02 [Member] | |||
Operating lease right-of-assets | 602,937 | ||
Prepaid expenses and other | (12,595) | ||
Total assets | 590,342 | ||
Operating lease liabilities, current portion | 135,519 | ||
Operating lease liabilities, net of current portion | 454,823 | ||
Total liabilities | 590,342 | ||
Total liabilities and stockholders’ equity | $ 590,342 |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | 6 Months Ended | |||
Jun. 30, 2019 | Dec. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (78,363,567) | $ (75,134,316) | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 687,023 | $ 323,943 | $ 304,006 | $ 288,721 |
Monthly Cash Requirement to Conduct Operations and Pay Dividend Obligations | $ 537,000 |
Note 3 - Revenue From Contrac_3
Note 3 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Capitalized Contract Cost, Amortization Period | 4 years | 4 years | |
Contract with Customer, Liability, Revenue Recognized | $ 34,000 | $ 111,000 | $ 0 |
Contract with Customer, Liability, Total | $ 294,261 | $ 294,261 | $ 196,609 |
Note 3 - Revenue From Contrac_4
Note 3 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | ||
Revenue | $ 728,383 | $ 748,141 | $ 1,280,006 | $ 1,589,596 | |
Maintenance [Member] | |||||
Revenue | 228,993 | 241,121 | 467,853 | 441,720 | |
Professional Services [Member] | |||||
Revenue | 3,000 | 8,000 | 5,750 | 109,850 | |
License [Member] | |||||
Revenue | 60,300 | 154,251 | 143,508 | 256,970 | |
Hardware [Member] | |||||
Revenue | 436,090 | 344,769 | 662,895 | 781,056 | |
North America [Member] | |||||
Revenue | 357,829 | 421,249 | 614,094 | 861,574 | |
North America [Member] | Maintenance [Member] | |||||
Revenue | 197,613 | 225,602 | 392,938 | 403,518 | |
North America [Member] | Professional Services [Member] | |||||
Revenue | 3,000 | 6,000 | 3,750 | 107,850 | |
North America [Member] | License [Member] | |||||
Revenue | 32,800 | 69,151 | 47,008 | 130,120 | |
North America [Member] | Hardware [Member] | |||||
Revenue | 124,416 | 120,496 | 170,398 | 220,086 | |
South America [Member] | |||||
Revenue | 17,527 | 83,056 | 20,043 | 83,056 | |
South America [Member] | Maintenance [Member] | |||||
Revenue | 5,291 | 16 | 7,407 | 16 | |
South America [Member] | Professional Services [Member] | |||||
Revenue | |||||
South America [Member] | License [Member] | |||||
Revenue | 30,000 | 30,000 | |||
South America [Member] | Hardware [Member] | |||||
Revenue | 12,236 | 53,040 | 12,636 | 53,040 | |
EMEA [Member] | |||||
Revenue | [1] | 344,716 | 79,901 | 414,052 | 345,140 |
EMEA [Member] | Maintenance [Member] | |||||
Revenue | 22,589 | 12,503 | 59,007 | 21,216 | |
EMEA [Member] | Professional Services [Member] | |||||
Revenue | 2,000 | 2,000 | |||
EMEA [Member] | License [Member] | |||||
Revenue | [1] | 27,500 | 55,100 | 27,500 | 96,850 |
EMEA [Member] | Hardware [Member] | |||||
Revenue | [1] | 294,627 | 10,298 | 327,545 | 225,074 |
Asia [Member] | |||||
Revenue | 8,311 | 163,935 | 231,817 | 299,826 | |
Asia [Member] | Maintenance [Member] | |||||
Revenue | 3,500 | 3,000 | 8,501 | 16,970 | |
Asia [Member] | Professional Services [Member] | |||||
Revenue | 2,000 | ||||
Asia [Member] | License [Member] | |||||
Revenue | 69,000 | ||||
Asia [Member] | Hardware [Member] | |||||
Revenue | $ 4,811 | $ 160,935 | $ 152,316 | $ 282,856 | |
[1] | EMEA - Europe, Middle East, Africa |
Note 4 - Accounts Receivable (D
Note 4 - Accounts Receivable (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Accounts Receivable, Allowance for Credit Loss, Noncurrent | $ 1,720,000 | $ 1,720,000 |
Percentage of Remaining Balance Owned Reserved | 100.00% | 100.00% |
Note 4 - Accounts Receivable -
Note 4 - Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts receivable - current | $ 703,685 | $ 1,587,817 |
Accounts receivable - non current | 1,720,000 | 1,720,000 |
Total accounts receivable | 2,423,685 | 3,307,817 |
Allowance for doubtful accounts - current | (13,785) | (13,785) |
Allowance for doubtful accounts - non current | (1,720,000) | (1,720,000) |
Total allowance for doubtful accounts | (1,733,785) | (1,733,785) |
Accounts receivable, net of allowance for doubtful accounts | $ 689,900 | $ 1,574,032 |
Note 5 - Share Based Compensa_3
Note 5 - Share Based Compensation - Expenses for Continuing Operations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based compensation expense | $ 131,054 | $ 149,542 | $ 657,088 | $ 699,475 |
Selling, General and Administrative Expenses [Member] | ||||
Share-based compensation expense | 115,526 | 128,620 | 568,613 | 599,766 |
Research and Development Expense [Member] | ||||
Share-based compensation expense | $ 15,528 | $ 20,922 | $ 88,475 | $ 99,709 |
Note 6 - Factoring (Details Tex
Note 6 - Factoring (Details Textual) | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Factoring Arrangement, Minimum Amount of Accounts Receivable Per Quarter | $ 150,000 |
Minimum [Member] | |
Factoring Fees Percent | 2.75% |
Maximum [Member] | |
Factoring Fees Percent | 15.00% |
Geographic Distribution, Foreign [Member] | |
Percentage Of Accounts Receivable Remitted By Factor | 35.00% |
Geographic Distribution, Domestic [Member] | |
Percentage Of Accounts Receivable Remitted By Factor | 75.00% |
Note 6 - Factoring - Due From F
Note 6 - Factoring - Due From Factor (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Original invoice value | $ 555,075 | $ 221,120 |
Factored amount | (416,507) | (164,438) |
Due from factor | $ 138,568 | $ 56,682 |
Note 6 - Factoring - Fees (Deta
Note 6 - Factoring - Fees (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Factoring fees | $ 39,543 | $ 12,691 | $ 92,340 | $ 104,214 |
Note 7 - Inventory - Components
Note 7 - Inventory - Components of Inventory (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Finished goods | $ 499,426 | $ 496,358 |
Fabricated assemblies | 512,277 | 502,471 |
Total inventory | $ 1,011,703 | $ 998,829 |
Note 8 - Resalable Software L_3
Note 8 - Resalable Software License Rights (Details Textual) - USD ($) | Dec. 31, 2015 | Nov. 11, 2015 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Dec. 31, 2018 |
Payments to Acquire Intangible Assets | $ 1,736 | ||||||||
Software License Rights, Current | $ 1,125,000 | 1,125,000 | $ 1,125,000 | $ 1,125,000 | |||||
Amortization of Intangible Assets, Total | 6,628 | 8,966 | |||||||
Software License Rights | 7,318,417 | 7,318,417 | 7,318,417 | $ 7,915,610 | |||||
Software License Rights [Member] | |||||||||
Payments to Acquire Intangible Assets | $ 12,000,000 | ||||||||
Software License Rights, Current | $ 1,125,000 | ||||||||
Finite-Lived Intangible Asset, Useful Life | 10 years | ||||||||
Amortization of Intangible Assets, Total | 281,250 | $ 660,000 | 562,500 | 1,320,000 | 4,761,096 | ||||
Software License Rights | 7,238,904 | 7,238,904 | 7,238,904 | ||||||
Software License Rights [Member] | Valuation, Cost Approach [Member] | |||||||||
Amortization of Intangible Assets, Total | 174 | 855 | 350 | 1,441 | |||||
The 2015 Software License [Member] | |||||||||
Amortization of Intangible Assets, Total | 8,739 | $ 20,642 | 34,693 | 8,102 | |||||
Software License Rights | $ 79,513 | 79,513 | $ 79,513 | ||||||
Payments to Acquire Software | $ 180,000 | ||||||||
Amortization of Intangible Assets, Credits | 14,400 | $ 14,400 | |||||||
Cumulative Amount of Amortization Expense, Net of Credits | $ 100,487 |
Note 8 - Resalable Software L_4
Note 8 - Resalable Software License Rights - Amortization Expense Change in Methodology (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Amortization of software license rights | $ 281,076 | $ 562,150 | $ 1,318,559 | |||
Total operating expenses | 1,359,888 | $ 1,373,817 | 3,111,039 | 3,227,825 | ||
Operating loss | (1,310,931) | (1,655,479) | (3,114,509) | (3,847,477) | ||
Net loss | $ (1,425,743) | $ (1,803,508) | $ (1,655,465) | $ (2,191,992) | $ (3,229,251) | $ (3,847,456) |
Basic & diluted loss per share (in dollars per share) | $ (0.10) | $ (0.15) | $ (0.23) | $ (0.42) | ||
Intangible Assets, Amortization Period [Member] | ||||||
Amortization of software license rights | $ 749,826 | $ 1,499,650 | ||||
Total operating expenses | 1,828,638 | 4,048,539 | ||||
Operating loss | (1,779,681) | (4,052,009) | ||||
Net loss | $ (1,894,493) | $ (4,166,751) | ||||
Basic & diluted loss per share (in dollars per share) | $ (0.13) | $ (0.29) |
Note 8 - Resalable Software L_5
Note 8 - Resalable Software License Rights - Summary of Software License Rights (Details) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Resalable software license rights | $ 1,125,000 | $ 1,125,000 |
Resalable software license rights, net of current portion | 6,193,417 | 6,790,610 |
Total resalable software license rights | $ 7,318,417 | $ 7,915,610 |
Note 9 - Related Party (Details
Note 9 - Related Party (Details Textual) | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Executive Officer [Member] | |
Proceeds from Related Party Debt | $ 142,623 |
Note 10 - Convertible Notes P_3
Note 10 - Convertible Notes Payable (Details Textual) - USD ($) | Jun. 14, 2019 | Apr. 04, 2019 | Jun. 30, 2019 |
Stock Issued During Period, Shares, Commitment Fees | 200,000 | 80,000 | 300,000 |
Stock to be Issued Monthly, Shares, Payment of Commitment Fees | 10,000 | ||
Stock Returned to Company, Prepayment of Debt Covenant | 180,000 | ||
Adjustments to Additional Paid in Capital, Commitment Fee Adjustment | $ 270,000 | ||
Convertible Debentures [Member] | |||
Proceeds from Issuance of Debt | $ 550,000 | ||
Debt Instrument, Convertible, Conversion Price | $ 1.50 | ||
Debt Instrument, Discount Percentage | 7.00% | ||
Debt Instrument, Unamortized Discount, Total | $ 40,000 | ||
Debt Instrument, Number of Additional Borrowings Allowed | 2 | ||
Debt Instrument, Additional Borrowings Allowed Amount | $ 550,000 | ||
Debt Agreement, Maximum Borrowing Capacity | 1,020,000 | ||
Debt Instrument, Fee Amount | 120,000 | ||
Monthly Commitment Fee | $ 15,000 | ||
Convertible Debentures [Member] | Minimum [Member] | |||
Debt Instrument, Convertible, Premium Payment Percentage | 5.00% | ||
Convertible Debentures [Member] | Maximum [Member] | |||
Debt Instrument, Convertible, Premium Payment Percentage | 25.00% | ||
Convertible Redeemable Note [Member] | |||
Proceeds from Issuance of Debt | $ 157,000 | ||
Debt Instrument, Convertible, Conversion Price | $ 1.50 | ||
Debt Instrument, Fee Amount | $ 30,000 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||
Stock Returned to Company, Prepayment of Debt Covenant | 180,000 | ||
Convertible Redeemable Note [Member] | Minimum [Member] | |||
Debt Instrument, Convertible, Premium Payment Percentage | 10.00% | ||
Convertible Redeemable Note [Member] | Maximum [Member] | |||
Debt Instrument, Convertible, Premium Payment Percentage | 30.00% | ||
Convertible Debt [Member] | |||
Debt Instrument, Unamortized Discount, Total | 24,533 | ||
Debt Instrument, Fee Amount | 450,000 | ||
Debt Issuance Costs, Net, Total | 180,000 | ||
Legal Fees | $ 17,000 |
Note 10 - Convertible Notes P_4
Note 10 - Convertible Notes Payable - Notes Payable (Details) - Convertible Debt [Member] | Jun. 30, 2019USD ($) |
Principal amount | $ 707,000 |
Less unamortized debt discount | (24,533) |
Less unamortized debt issuance costs | (140,800) |
Notes payable, net of unamortized debt discount and debt issuance costs | $ 541,667 |
Note 11 - Leases (Details Textu
Note 11 - Leases (Details Textual) | Jun. 30, 2019USD ($)ft² |
Operating Lease, Liability, Total | $ 524,096 |
Eagan, Minnesota Property [Member] | |
Area of Real Estate Property | ft² | 5,544 |
Lessee, Operating Lease, Term of Contract | 3 years |
Operating Lease, Liability, Total | $ 129,000 |
Note 11 - Leases - Operating Le
Note 11 - Leases - Operating Lease Balance Sheet Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 | |
Operating lease cost | $ 42,981 | $ 85,962 | ||
Short-term lease cost | 15,094 | 31,390 | ||
Sublease income | ||||
Total lease cost | 58,075 | 117,352 | ||
Operating lease right-of-assets | 532,757 | 532,757 | $ 602,937 | $ 0 |
Operating lease liabilities, current portion | 141,068 | 141,068 | 135,519 | 0 |
Operating lease liabilities, net of current portion | 383,028 | 383,028 | $ 454,823 | $ 0 |
Operating Lease, Liability, Total | $ 524,096 | $ 524,096 | ||
Weighted average remaining lease term (in years) – operating leases (Year) | 3 years 328 days | 3 years 328 days | ||
Weighted average discount rate – operating leases | 5.50% | 5.50% |
Note 11 - Leases - Supplemental
Note 11 - Leases - Supplemental Cash Flow Information Related to Leases (Details) | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Cash paid for amounts included in the measurement of operating lease liabilities | $ 84,231 |
Note 11 - Leases - Operating _2
Note 11 - Leases - Operating Lease Liability Maturity (Details) | Jun. 30, 2019USD ($) |
2019 (remaining six months) | $ 83,217 |
2020 | 155,682 |
2021 | 127,425 |
2022 | 131,249 |
2023 | 89,226 |
Total future lease payments | 586,799 |
Less: imputed interest | (62,703) |
Operating Lease, Liability, Total | $ 524,096 |
Note 12 - Earnings (Loss) Per_3
Note 12 - Earnings (Loss) Per Share - Common Stock ("EPS") - Reconciliation of Numerator of Basic and Diluted EPS Calculations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Basic Numerator: | ||||||
Net loss | $ (1,425,743) | $ (1,803,508) | $ (1,655,465) | $ (2,191,992) | $ (3,229,251) | $ (3,847,456) |
Convertible preferred stock dividends | (41,870) | (198,033) | ||||
Net loss available to common stockholders | $ (1,425,743) | $ (1,697,335) | $ (3,229,251) | $ (4,045,489) |
Note 12 - Earnings (Loss) Per_4
Note 12 - Earnings (Loss) Per Share - Common Stock ("EPS") - Securities Excluded From the Diluted Per Share Calculation (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Exercise Price Greater Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 5,701,277 | 3,966,203 | 5,843,402 | 5,698,373 |
Exercise Price Greater Than Average Market Price Of Common Shares [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive securities (in shares) | 1,551,349 | 1,366,467 | 1,784,183 | 1,445,891 |
Exercise Price Greater Than Average Market Price Of Common Shares [Member] | Preferred Stock [Member] | ||||
Antidilutive securities (in shares) | 1,200,767 | 2,853,513 | ||
Exercise Price Greater Than Average Market Price Of Common Shares [Member] | Warrant [Member] | ||||
Antidilutive securities (in shares) | 3,780,976 | 1,398,969 | 3,780,976 | 1,398,969 |
Exercise Price Greater Than Average Market Price Of Common Shares [Member] | Convertible Debt Securities [Member] | ||||
Antidilutive securities (in shares) | 368,952 | 278,243 | ||
Exercise Price Less Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 4,071 | 37,015 | 19,863 | |
Exercise Price Less Than Average Market Price Of Common Shares [Member] | Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive securities (in shares) | 4,071 | 37,015 | 19,863 |
Note 13 - Stockholders' Equit_2
Note 13 - Stockholders' Equity (Details Textual) - USD ($) | May 14, 2019 | Mar. 28, 2019 | Aug. 24, 2018 | Nov. 11, 2015 | Oct. 29, 2015 | Sep. 23, 2015 | Nov. 13, 2014 | May 31, 2018 | Apr. 30, 2018 | Mar. 31, 2018 | Oct. 31, 2017 | Sep. 30, 2017 | May 23, 2018 | Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | May 31, 2018 | Dec. 31, 2015 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | |||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.0001 | $ 0.0001 | |||||||||||||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ 5,505 | $ 16,506 | $ 6,509 | $ 16,513 | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3.60 | ||||||||||||||||||||
Promissory Note [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 69,445 | ||||||||||||||||||||
Securities Purchase Agreement Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,392,502 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.50 | ||||||||||||||||||||
Fair Value Adjustment of Warrants | $ 1,288,139 | ||||||||||||||||||||
September 2015 Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 166,668 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.50 | ||||||||||||||||||||
Fair Value Adjustment of Warrants | $ 140,827 | ||||||||||||||||||||
Private Investor SPA [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 664,584 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 996,877 | ||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ 1,595,000 | ||||||||||||||||||||
Term Of Warrant | 5 years | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3.60 | ||||||||||||||||||||
Director [Member] | |||||||||||||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total | 4,235 | 13,820 | |||||||||||||||||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ 5,505 | $ 16,506 | |||||||||||||||||||
Certain Officers, Employees, and Contractors [Member] | Share-based Payment Arrangement, Option [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | 235,334 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | ||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.18 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value Amount | $ 243,643 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.35% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 4 years 182 days | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 143.00% | ||||||||||||||||||||
Conversion of Series A-1 Shares into Common Stock [Member] | |||||||||||||||||||||
Conversion of Stock, Shares Issued | 2,500,000 | ||||||||||||||||||||
Conversion of Dividends Payable on Series A-1 Preferred Stock to Common Stock [Member] | |||||||||||||||||||||
Conversion of Dividends Payable, Shares Issued | 248,893 | ||||||||||||||||||||
Conversion of Dividends Payable, Amount Converted | $ 356,015 | $ 896,015 | |||||||||||||||||||
Conversion of Series B-1 Shares into Common Stock [Member] | |||||||||||||||||||||
Conversion of Stock, Shares Issued | 2,916,668 | ||||||||||||||||||||
Conversion of Dividends Payable on Series B-1 Preferred Stock to Common Stock [Member] | |||||||||||||||||||||
Conversion of Dividends Payable, Shares Issued | 131,229 | ||||||||||||||||||||
Conversion of Dividends Payable, Amount Converted | $ 472,426 | $ 472,426 | |||||||||||||||||||
Series A-1 Convertible Preferred Stock [Member] | |||||||||||||||||||||
Preferred Stock, Shares Authorized | 100,000 | 100,000 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 5,500 | 84,500 | 90,000 | ||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 0 | |||||||||||||||||||
Share Price | $ 100 | $ 100 | |||||||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock | $ 550,000 | $ 8,450,000 | |||||||||||||||||||
Conversion of Dividends Payable, Amount Converted | $ 25,463 | $ 330,552 | $ 540,000 | ||||||||||||||||||
Preferred Stock, Shares Issued, Total | 0 | 0 | |||||||||||||||||||
Series B-1 Convertible Preferred Stock [Member] | |||||||||||||||||||||
Preferred Stock, Shares Authorized | 105,000 | 105,000 | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 105,000 | 105,000 | |||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 0 | |||||||||||||||||||
Share Price | $ 100 | ||||||||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock | $ 10,500,000 | ||||||||||||||||||||
Conversion of Dividends Payable, Amount Converted | $ 55,342 | $ 417,084 | |||||||||||||||||||
Preferred Stock, Shares Issued, Total | 0 | 0 | |||||||||||||||||||
September 2015 Warrants [Member] | |||||||||||||||||||||
Term Of Warrant | 5 years | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3.60 |
Note 13 - Stockholders' Equit_3
Note 13 - Stockholders' Equity - Balances and Conversion of Preferred Shares and Accrued Dividends (Details) - USD ($) | 1 Months Ended | 3 Months Ended | |||||||||||
May 31, 2018 | Apr. 30, 2018 | Mar. 31, 2018 | Oct. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2016 | |
Series A-1 Convertible Preferred Stock [Member] | |||||||||||||
Balance (in shares) | 62,596 | 90,000 | |||||||||||
Balance | $ 236,658 | $ 270,000 | |||||||||||
Accrual of dividends | $ 25,463 | $ 93,894 | $ 101,658 | $ 135,000 | $ 135,000 | $ 135,000 | |||||||
Conversion of A-1 preferred stock to common stock (in shares) | (23,508) | (39,088) | (27,404) | ||||||||||
Conversion into common stock | $ (25,463) | $ (330,552) | $ (540,000) | ||||||||||
Series B-1 Convertible Preferred Stock [Member] | |||||||||||||
Balance (in shares) | 105,000 | 105,000 | |||||||||||
Balance | $ 393,750 | $ 131,250 | |||||||||||
Accrual of dividends | $ 16,408 | $ 62,268 | $ 65,625 | $ 65,625 | $ 65,625 | $ 65,625 | |||||||
Conversion of A-1 preferred stock to common stock (in shares) | (44,580) | (60,420) | |||||||||||
Conversion into common stock | $ (55,342) | $ (417,084) |
Note 14 - Segment Information (
Note 14 - Segment Information (Details Textual) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Number of Reportable Segments | 1 | |||
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | UNITED STATES | ||||
Concentration Risk, Percentage | 49.00% | 56.00% | 48.00% | 54.00% |
Note 16 - Major Customers and_2
Note 16 - Major Customers and Accounts Receivable (Details Textual) - Customer Concentration Risk [Member] | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | |
Revenue Benchmark [Member] | |||||
Concentration Risk, Number of Major Customers | 2 | 3 | 2 | ||
Revenue Benchmark [Member] | Two Customers [Member] | |||||
Concentration Risk, Percentage | 59.00% | 34.00% | 37.00% | ||
Revenue Benchmark [Member] | Three Customers [Member] | |||||
Concentration Risk, Percentage | 58.00% | ||||
Current Accounts Receivable [Member] | |||||
Concentration Risk, Number of Major Customers | 2 | 1 | |||
Concentration Risk, Percentage | 90.00% | 70.00% | |||
Non-current Accounts Receivable [Member] | One Customer [Member] | |||||
Concentration Risk, Number of Major Customers | 1 | 1 | |||
Concentration Risk, Percentage | 100.00% | 100.00% | |||
Percentage Of Accounts Receivable Reserved | 100.00% |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - USD ($) | Aug. 08, 2019 | Jul. 10, 2019 | Jul. 01, 2019 | Jun. 14, 2019 | May 14, 2019 | Apr. 04, 2019 | Mar. 28, 2019 | Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Nov. 11, 2015 |
Stock Issued During Period, Shares, Commitment Fees | 200,000 | 80,000 | 300,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3.60 | ||||||||||
Payments of Stock Issuance Costs | $ 17,000 | $ 15,212 | |||||||||
Convertible Debentures [Member] | |||||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.50 | ||||||||||
Subsequent Event [Member] | |||||||||||
Payments of Stock Issuance Costs | $ 50,000 | ||||||||||
Stock Issued During Period, Shares, Issued for Due Diligence Fee | 266,667 | ||||||||||
Stock Issued During Period, Value, Issued for Due Diligence Fee | $ 400,000 | ||||||||||
Subsequent Event [Member] | Investor Warrant [Member] | |||||||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,000,000 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.50 | ||||||||||
Class of Warrant or Rights, Maximum Percentage of Securities Called by Warrants or Rights | 20.00% | ||||||||||
Subsequent Event [Member] | The Note [Member] | Senior Secured Convertible Note [Member] | |||||||||||
Debt Instrument, Face Amount | $ 3,060,000 | ||||||||||
Proceeds from Debt, Net of Issuance Costs | 2,550,000 | ||||||||||
Debt Instrument, Periodic Payment, Principal due in 180 Days | 918,000 | ||||||||||
Debt Instrument, Periodic Payment, Principal due in 270 Days | $ 1,071,000 | ||||||||||
Debt Instrument, Interest Default Rate Percentage | 18.00% | ||||||||||
Debt Instrument, Periodic Payment, Principal, Maximum Percent | 20.00% | ||||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.50 | ||||||||||
Debt Instrument, Convertible, Percent | 25.00% | ||||||||||
Subsequent Event [Member] | Convertible Debentures [Member] | |||||||||||
Stock Issued During Period, Shares, Commitment Fees | 10,000 | ||||||||||
Director [Member] | |||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total | 4,235 | 13,820 | |||||||||
Director [Member] | Subsequent Event [Member] | |||||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total | 4,425 |