Protagenic Therapeutics (PTIX) 8-K/A 12 Jul 16 2015 FY Entry into a Material Definitive Agreement Financial data

Document And Entity Information

Document And Entity Information - shares	12 Months Ended
	Dec. 31, 2015	Feb. 22, 2016
Document Information [Line Items]
Entity Registrant Name	Protagenic Therapeutics, Inc.\new
Entity Central Index Key	1,022,899
Trading Symbol	atrn
Current Fiscal Year End Date	--06-30
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		400,000,000
Document Type	8-K/A
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	true
Amendment Description	On February 12, 2016, Atrinsic, Inc. ("Atrinsic" or the "Company") filed with the Securities and Exchange Commission (the "SEC") its original Current Report on Form 8-K (the "Original Form 8-K") to report certain events, described in detail therein, including, among other things (1) the completion of a reverse merger transaction, (2) the Company's initial closing of a private placement of the Company's securities at $1.25 per share and (3) certain related items and transactions. The purpose of this Amendment No. 1 to Current Report on Form 8-K/A (the "Amended Form 8-K") is to include the audited financial statements for Protagenic Therapeutics, Inc. for the fiscal years ended December 31, 2015 and 2014. On February 12, 2016, Protagenic Acquisition Corp. ("Acquisition Corp."), a wholly-owned subsidiary of Atrinsic, Inc., a Delaware corporation ("Atrinsic"), merged (the "Merger") with and into Protagenic Therapeutics, Inc. a Delaware corporation ("Protagenic"). Protagenic was the surviving corporation of that Merger. As a result of the Merger, Atrinsic acquired the business of Protagenic and will continue the existing business operations of Protagenic as a wholly-owned subsidiary. As used in this Current Report, the terms the "Company", "we," "us," and "our" refer to Atrinsic and its wholly-owned subsidiary Protagenic, after giving effect to the Merger, unless otherwise stated or the context clearly indicates otherwise. The term "Predecessor" refers to Atrinsic, Inc., before giving effect to the Merger; and the term "Protagenic" refers to Protagenic Therapeutics, Inc., before giving effect to the Merger. This Current Report contains summaries of the material terms of various agreements executed in connection with the transactions described herein. The summaries of these agreements are subject to, and are qualified in their entirety by, reference to these agreements, all of which are incorporated herein by reference.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
CURRENT ASSETS
Cash and cash equivalents	$ 3,343	$ 22,733
TOTAL CURRENT ASSETS	3,343	22,733
Office		9,414
Computer	1,712	12,506
	1,712	21,920
Less: Accumulated depreciation	(143)	(21,920)
Total equipment	1,569
OTHER ASSETS	6,230	4,147
TOTAL ASSETS	11,142	26,880
CURRENT LIABILITIES
Bridge Loan Payable - Stockholder and accrued interest	399,103	0
Accounts payable and accrued expenses	276,532	145,733
Income taxes payable	2,723	2,500
TOTAL CURRENT LIABILITIES	678,358	148,233
STOCKHOLDERS' DEFICIT
Common stock at $.001 par value, 20,000,000 shares authorized; 7,613,338 shares issued and 6,613,338 outstanding for December 31, 2015 and 2014	7,613	7,613
Additional paid-in-capital	5,880,119	5,401,490
Accumulated deficit	(6,306,297)	(5,282,875)
Treasury stock, at cost $.001 par value, 1,000,000 shares, for December 31, 2015 and 2014	(100,000)	(100,000)
Accumulated other comprehensive loss	(148,651)	(147,581)
TOTAL STOCKHOLDERS' DEFICIT	(667,216)	(121,353)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 11,142	$ 26,880

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, shares issued (in shares)	7,613,338	7,613,338
Common stock, shares outstanding (in shares)	6,613,338	6,613,338
Treasury stock, par value	$ 0.001	$ 0.001
Treasury stock, shares (in shares)	1,000,000	1,000,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
REVENUE	$ 0	$ 0
OPERATING AND ADMINISTRATIVE EXPENSES
Sponsorship research and development	170,575	67,270
Legal fees	164,855	25,287
Salaries	73,815	88,791
Patent expense	22,435	60,434
Consulting	10,008	10,861
Payroll taxes and employee benefits	10,170	5,335
Rent - related party and officer	4,546	5,862
Travel	6,228	2,892
Telephone, internet and website	1,658	2,703
Miscellaneous	165
Rebates from research and development Canadian tax credits	(8,181)	(78,366)
Total research and development expenses	456,274	191,069
General and administrative expenses	568,764	101,031
TOTAL OPERATING AND ADMINISTRATIVE EXPENSES	1,025,038	292,100
LOSS FROM OPERATIONS	(1,025,038)	(292,100)
OTHER INCOME (EXPENSE)
Interest income		49
Interest expense - stockholder	(11,473)
Foreign currency exchange gain (loss)	13,089	(10,430)
TOTAL OTHER INCOME (EXPENSE)	1,616	(10,381)
NET LOSS	(1,023,422)	(302,481)
COMPREHENSIVE LOSS
Foreign exchange translation loss	(1,070)	(156,338)
TOTAL COMPREHENSIVE LOSS	$ (1,024,492)	$ (458,819)
Net loss per common share - basic and diluted (in dollars per share)	$ (0.15)	$ (0.05)
Weighted average common shares - basic and diluted (in shares)	6,613,338	6,613,338

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Deficit - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Preferred Stock [Member]Preferred Class A [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2013	7,613,338			(1,000,000)
Balance at Dec. 31, 2013	$ 7,613	$ 5,316,322	$ (4,980,394)	$ (100,000)	$ 8,757	$ 252,298
Stock compensation		85,168				85,168
Foreign currency translation loss					(156,338)	(156,338)
Net Income (Loss) Attributable to Parent			(302,481)			(302,481)
Balance (in shares) at Dec. 31, 2014	7,613,338			(1,000,000)
Balance at Dec. 31, 2014	$ 7,613	5,401,490	(5,282,875)	$ (100,000)	(147,581)	(121,353)
Stock compensation		478,629				478,629
Foreign currency translation loss					(1,070)	(1,070)
Net Income (Loss) Attributable to Parent			(1,023,422)			(1,023,422)
Balance (in shares) at Dec. 31, 2015	7,613,338			(1,000,000)
Balance at Dec. 31, 2015	$ 7,613	$ 5,880,119	$ (6,306,297)	$ (100,000)	$ (148,651)	$ (667,216)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net Loss	$ (1,023,422)	$ (302,481)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation expense	143	380
Stock based compensation	478,629	85,168
Interest added to bridge loan	11,473
Changes in operating assets and liabilities
Prepaid research and development expenses		47,224
Other assets	(2,916)	(1,084)
Accounts payable and accrued expenses	154,529	15,423
Income taxes payable	223	(600)
NET CASH USED IN OPERATING ACTIVITIES	(381,341)	(155,970)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of equipment	(1,791)
NET CASH USED IN INVESTING ACTIVITIES	(1,791)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bridge loan	387,630
NET CASH PROVIDED BY FINANCING ACTIVITIES	387,630
Effect of exchange rate on cash and cash quivalents	(23,888)	22,720
NET DECREASE IN CASH AND CASH EQUIVALENTS	(19,390)	(133,250)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	22,733	155,983
CASH AND CASH EQUIVALENTS, END OF YEAR	3,343	22,733
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest expense
Cash paid for income taxes

Note 1 - Organization and Natur

Note 1 - Organization and Nature of Business	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Nature of Operations [Text Block]	NOTE 1 ORGANIZATION AND NATURE OF BUSINESS Protagenic Therapeutics, Inc. (“PTI U.S.A.”) was organized on September 29, 2004 in the State of Delaware. On September 14, 2015, PTI U.S.A. obtained its renewal and revival of its Delaware charter which had become inoperative effective August 7, 2015. The Company is a privately held biotechnology company focused on the discovery, research and development of pre-clinical studies for developing novel, naturally occurring, human neuropeptide-based, brain- active therapeutics for treatment of depression, mood, anxiety and other neurodegenerative disorders. The Company is also interested in acquiring exclusive intellectual property rights for peptide-based therapeutics for the treatment of neurological and mood disorders. Once the Company’s planned principal operations commence, its focus will be licensing certain technologies and the continued research of the new technologies. Protagenic Therapeutics Canada (2006) Inc. (“PTI Canada”) was incorporated in 2006 in the Province of Ontario, Canada. PTI Canada is a wholly-owned subsidiary of PTI U.S.A. (collectively, the “Company”). It provides operational support and assistance for the implementation of corporate and operational activities conducted in Canada.

Note 2 - Liquidity

Note 2 - Liquidity	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Liquidity and Going Concern [Text Block]	NOTE 2 LIQUIDITY As shown in the accompanying consolidated financial statements, the Company incurred a net loss of $1,023,422 and $302,481 for the years ended December 31, 2015 and 2014, respectively. The Company has incurred losses since inception resulting in an accumulated deficit of $6,306,297 as of December 31, 2015, and has had negative cash flows from operating activities. The Company anticipates further losses in the development of its business. Additionally, the Company had a net working capital deficiency of $675,015 at December 31, 2015. The Company intends to finance its activities through managing current cash and cash equivalents on hand and seeking additional funds raised in the future through the issuance of common stock, borrowing of funds or merging with another company (see Note 11). Subsequently in February 2016 through April 2016, the Company raised total gross proceeds $4,635,575 (net proceeds of $4,283,438) through a private offering of Series B Preferred Stock. As a result, the Company expects its cash to sustain its operations through the end of 2017. In the next 12 months, the Company expects to burn cash of approximately $2,691,000. In addition to the above capital raise, the Company will need to raise additional funds. However, there can be no assurance that financing will be available when required or if available, obtained on satisfactory terms to the company.

Note 3 - Summary of Significant

Note 3 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 3 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of PTI U.S.A, and its wholly owned subsidiary, PTI Canada. All significant intercompany transactions and balances have been eliminated from the consolidated financial statements. Foreign Currency Translation and Transactions The assets and liabilities of the Company’s foreign subsidiary PTI Canada are translated into U.S. dollars from its functional currency using the exchange rate in effect at the balance sheets date. Additionally, the accounts on the statements of operations are translated using exchange rates approximating average rates prevailing during the years. Equity accounts are translated at historical exchange rates. Translation adjustments that arise from translating its financial statements from the local currency to the U.S. dollar are accumulated and reflected as a separate component of stockholders’ deficit. The current year effect of the transaction adjustments are included on the statement of operations as a foreign currency exchange gain (loss). Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amount of revenues and expenses during the reporting period. Significant estimates include accruals, contingencies, valuation allowance for deferred tax assets and valuation of stock options and warrants. These estimates may be adjusted as more current information becomes available, and any adjustment could have a significant impact on recorded amounts. Actual results could differ from those estimates. Cash and Cash Equivalents Cash equivalents consist of money market instruments with an original maturity at the time of purchase of three months or less. The Company maintains its cash and cash equivalents with two high credit quality financial institutions with one located in each the United States and Canada, which at times, may be in excess of insured amounts with the U.S. Federal Deposit Insurance Company and Canada Deposit Insurance Corporation. The Company’s policy is to maintain its cash and cash equivalents with reputable financial institutions assessed on an annual basis. There are no cash equivalents at this time. There is little concentration of credit risk for foreign cash as minimal balances of cash are held by PTI Canada. Equipment Equipment was stated at cost less accumulated depreciation. Improvements and replacements of equipment are capitalized. Maintenance and repairs that do not improve or extend the lives of equipment are charged to expense as incurred. When assets are retired, their cost and related accumulated depreciation are removed from the accounts and any gain or loss will be reported in the consolidated statements of operations. Depreciation is computed using straight- line methods over their estimated useful lives ranging from 3 to 5 years. Rebates from Research and Development Credits The Company derives rebates from scientific research and experimental development tax credits issued by the Canada Revenue Agency for qualified expenditures. The credits are recognized when the rebate is issued. The amounts received are reinvested into the Company’s scientific research, experimental development and operational works conducted in Canada. Research and Development Expenses, net of Rebates The Company’s research and development expenditures for present and future products are expensed as incurred. Treasury Stock Management of the Company does not plan to retire the stock and applies the cost method to its treasury stock transactions. Differences between proceeds for reissuance of treasury stock and the cost are credited or charged to additional paid in capital to the extent of the prior credits and thereafter to accumulated deficit. Fair Value Measurements Accounting Standards Codification 820, “Fair Value Measurements and Disclosure,” (“ASC 820”) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, not adjusted for transaction costs. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels giving the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are described below: Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that is accessible by the Company; Level 2 Inputs – Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly; Level 3 Inputs – Unobservable inputs for the asset or liability including significant assumptions of the Company and other market participants. There were no transfers in or out of any level for the years ended December 31, 2015 and 2014. The Company determines fair values for its investment assets as follows: Cash and cash equivalents, accounts payable, and accrued expenses carry value equals approximately the fair value due to its short term nature. Based on the borrowing rates currently available to the Company for loans with similar terms and the expected short term maturity, the carrying value of the bridge note payable approximates fair value. Stock-Based Compensation The Company accounts for stock based compensation costs under the provisions of ASC No. 718, Compensation—Stock Compensation Income Taxes The Company accounts for income taxes utilizing the liability method. Deferred income tax assets and liabilities are computed annually for differences between the consolidated financial statement basis and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such asset will be realized. Management has determined that a valuation allowance is required for the deferred tax assets which is primarily attributable to net operating loss carry forwards for federal and state tax purposes. The net operating losses expire through 2035 and 2022 for federal and state taxes, respectively. Thus, the consolidated financial statements do not reflect a deferred tax provision. Basic and Diluted Net (Loss) per Common Share Basic (loss) per common share is computed by dividing the net (loss) by the weighted-average number of shares of common stock outstanding for each period. Diluted (loss) per share is computed by dividing the net (loss) by the weighted-average number of shares of common stock outstanding plus the dilutive effect of shares issuable through the common stock equivalents. Potentially dilutive securities consisting of options and warrants aggregating 5,111,111 and 4,371,111 for the years ended December 31, 2015 and 2014, respectively were not included in the calculation of weighted-average shares of common stock outstanding as they were determined to be anti-dilutive. Recent Accounting Pronouncements On March 30, 2016, the FASB issued ASU 2016-09, "Compensation - Stock Compensation" which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. For public business entities, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance. If early adoption is elected, all amendments in the ASU that apply must be adopted in the same period. In addition, if early adoption is elected in an interim period, any adjustments should be reflected as of the beginning of the annual period that includes that interim period. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases In November 2015, the FASB issued ASU No. 2015-17, Income taxes. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern. The provisions of ASU No. 2014-15 require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantialdoubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company is currently assessing the impact of this ASU on the Company’s consolidated financial statements. Recent Accounting Pronouncements (continued) Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the consolidated financial statements filed with this annual report.

Note 4 - Accounts Payable and A

Note 4 - Accounts Payable and Accrued Expenses	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	NOTE 4 ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consist of the following as of December 31: 201 5 201 4 Legal expenses $ 186,936 $ 51,120 Salaries 41,166 -- Patent cost 29,239 87,244 Research and development 8,128 6,089 Payroll taxes and employee benefits 6,222 -- Other 4,841 1,280 $ 276,532 $ 145,733

Note 5 - Bridge Loans Payable -

Note 5 - Bridge Loans Payable - Stockholder	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 5 BRIDGE LOAN PAYABLE - STOCKHOLDER The Company did not enter into any bridge loan arrangements during 2014. During January 1, 2015 through December 31, 2015, the Company had entered into a series of bridge loan arrangements for total borrowings received and interest accrued of $399,103 with a major Stockholder and Chairman. The proceeds were used to fund research, development and the general operating activity of the Company. The Company has guaranteed the payment of all principal and interest in the form of the Company’s common stock at a purchase price of $1.25 per share. The loan bears interest at a rate of 10% per annum. The Company recorded interest expense of $11,473 for the year ended December 31, 2015. Subsequent to December 31, 2015, the Company converted $350,000 in principal on the note into shares of Series B Preferred Stock in the Private Offering at a price of $1.25 per share. In addition, during June 2016, the Company has agreed to convert the remaining principal and interest at $1.25 per share.

Note 6 - Stockholders' Deficit

Note 6 - Stockholders' Deficit	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 6 STOCKHOLDERS’ DEFICIT Common Stock The Company adopted a certificate of amendment to the Company’s restated certificate of incorporation to increase the number of authorized shares of its $.001 par value common stock from 10,000,000 shares to 20,000,000 shares which was recorded by the state of Delaware on October 2, 2015. No common stock was issued during the years ended December 31, 2015 and 2014. Stock-Based Compensation On March 15, 2006, the Company adopted the “Protagenic Therapeutic, Inc. 2006 Employee, Director and Consultant Stock Plan” (the “Plan”) and authorized 140,000 shares for issuance pursuant to the Plan. On April 1, 2012, the Company increased the number of authorized shares to 2,000,000 shares. In accordance with the Plan, the Company can grant to certain employees, directors or consultants options to purchase shares of the Company’s common stock which vest automatically or ranging from a one-year period to a five-year period. The shares are exercisable over a period of ten years from the date of grant. The Plan provides that qualified options be granted at an exercise price equal to the fair market value at the date of grant, as determined by the Board of Directors. During the years ended December 31, 2015 and 2014, the Company granted a total of 490,000 and 240,000 respectively, options to purchase shares of the Company’s common stock at an exercise price of $1.25 and $1.00 per share. The 2015 and 2014 options vest monthly ranging from six months to over a five-year period for one individual. Management has determined that for each round of stock options granted, it was reasonable to estimate the fair value of the common stock options using the Black Scholes option pricing model. Accordingly, the Company has accounted for options using this calculated value method. Based on the fact that the Company is a privately held company with no revenue, management has estimated its expected future equity volatility factor in valuing the Company’s common stock equivalents by starting with its historical volatility adjusted for the volatility of equity interests from comparable publicly traded and privately held published companies to arrive at such industry benchmarks to evaluate. The fair value of each stock option granted and warrant issued during 2015 and 2014 was estimated using the Black Scholes assumptions and or factors as follows: 2015 2014 Expected dividend yield 0% 0 % Risk free interest rate 1.66% - 2.43% 2.30 % Expected life in years 10 10 Expected volatility 85% 85 % No stock options expired or were forfeited during the years ended December 31, 2015 and 2014. As of December 31, 2015, the stock options had no intrinsic value as there was no current market value for the shares. The Company recognized stock-based compensation expense pertaining to the options granted of $190,751 and $85,168 during the years ended December 31, 2015 and 2014, respectively. Stock-Based Compensation (continued) As of December 31, 2015 and 2014, the Plan had remaining option shares to be granted of 292,256 and 782,256, respectively. Unrecognized compensation expense related to unvested awards as of December 31, 2015 was approximately $290,985, and will be recognized over the remaining vesting periods of the underlying awards. The following is an analysis of the stock option grant activity under the Plan: Exercise Weighted Average Number Price Exercise Price Stock Options Outstanding January 1, 2014 977,744 $ 0.60 Granted 240,000 $ 1.00 Outstanding December, 31, 2014 1,217,744 $ 0.68 Granted 490,000 $ 1.25 Outstanding December, 31, 2015 1,707,744 $ 0.84 The following is an analysis of the vested and non-vested stock options under the Plan as of December 31, 2015: Number of Options Expiration Date Remaining Contractual Life (Years) Exercise Price 104,150 March 1, 2016 0.17 $ 0.26 312,449 March 15, 2016 0.21 $ 0.26 55,000 August 1, 2016 0.59 $ 0.26 60,000 November 1, 2016 0.84 $ 0.26 21,145 February 1, 2017 1.09 $ 1.00 290,000 March 1, 2021 5.25 $ 1.00 10,000 June 10, 2021 5.45 $ 1.00 50,000 April 1, 2022 6.25 $ 1.00 75,000 December 1, 2022 6.92 $ 1.00 90,000 March 1, 2024 8.17 $ 1.00 215,000 March 1, 2025 9.17 $ 1.25 75,000 March 9, 2025 9.19 $ 1.25 150,000 March 1, 2027 11.17 $ 1.00 200,000 January 22, 2030 14.07 $ 1.25 1,707,744 Warrants The Company has conducted private placement offerings to raise financing since its formation. In connection with the private placement offerings that occurred in 2013, 2011, and 2007, the Company offered its common stock at a fixed purchase price of $1.00 per share, $0.001 par value, and offered 3 warrants for each share purchased. The warrants have an exercise price of $1.00 per share and have an exercise term of ten years from the date of issuance. The Company has warrants outstanding as follows: December 31, 2015 December 31, 2014 Financing and stock subscriptions (includes 300,000 warrants to the Major Stockholder and Chairman) 2,100,000 2,100,000 Consultants 350,000 100,000 Major Stockholder and Chairman 953,367 953,367 Total Warrants Issued 3,403,367 3,153,367 A summary of warrant issuances are as follows: Exercise Weighted Average Number Price Exercise Price Warrants Outstanding January 1, 2014 3,153,367 $ 1.01 Granted - $ - Outstanding December, 31, 2014 3,153,367 $ 1.00 Granted 250,000 $ 1.25 Outstanding December, 31, 2015 3,403,367 $ 1.05 All outstanding warrants are currently exercisable. A summary of warrants issued and outstanding at December 31, 2015 is summarized as follows: Number of Common Stock Equivalents Expiration Date Remaining Contractual Life(Years) Exercise Price 100,000 01/01/2017 1.2 $ 1.25 675,000 07/07/2021 5.5 to 6.7 $ 1.00 2,628,367 12/20/2023 7.3 to 8.1 $ 1.05 3,403,367 Warrants (continued) The Company recognized stock-based compensation expense pertaining to the warrants issued of $287,878 and $0 during the years ended December 31, 2015 and 2014, respectively. As of December 31, 2015, the Major Stockholder and Chairman has been issued 1,253,367 warrants to purchase 417,789 shares of common stock at an exercise price of $1.00 exercisable over 10 year periods which ends either on May 19, 2021 (warrants to purchase 100,000 shares of common stock) or on February18, 2023 (warrants to purchase 317,789 shares of common stock).

Note 7 - Income Taxes

Note 7 - Income Taxes	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 7 INCOME TAXES The components of (loss) income before income taxes are as follows: 2015 2014 Domestic (747,693 ) 16,001 Foreign (275,729 ) (318,482 ) (Loss) income before income taxes (1,023,422 ) (302,481 ) The Company had no income tax expense due to operating losses incurred for the years ended December 31, 2015 and 2014. For the periods ended December 31, 2015 and 2014, the actual tax expense differs from the effective tax expense (benefit) based on the U.S. Federal tax rate of 34% as follows: 2015 2014 Income taxes at Federal statutory rate -34.0 % -34.0 % State income taxes, net of Federal income tax effect -13.0 % -6.0 % Foreign tax rate differential 2.4 % 0.0 % Change in valuation allowance 43.5 % 40.0 % Other 1.1 % 0.0 % Income tax provision 0.0 % 0.0 % The tax effects of temporary differences that give rise to the Company’s deferred tax assets and liabilities are as follows: 2015 2014 U.S. net operating loss carryforwards 563,000 401,000 Stock compensation 206,000 - Canadian Provincial income tax losses 402,000 333,000 Canadian Provincial scientific investment tax credits 201,000 193,000 1,372,000 927,000 Valuation allowance (1,372,000 ) (927,000 ) Net deferred tax assets - - As of December 31, 2015 and 2014, the Company had federal net operating loss carryforwards (“NOL”) of approximately $1,310,000 and $1,041,000, respectively. The losses expire in stages beginning in 2024. The Company has not performed a detailed analysis to determine whether an ownership change under IRC Section 382 has occurred. The effect of an ownership change would be the imposition of annual limitation on the use of NOL carryforwards attributable to periods before the change Any limitation may result in expiration of a portion of the NOL before utilization. As of December 31, 2015 and 2014, the Company had state and local net operating loss carryforwards of approximately $1,303,000 and $1,033,000, respectively, to reduce future state tax liabilities also through 2035. As of December 31, 2015 and 2014, the Company had Canadian NOL of approximately $1,256,000 and $980,000, respectively. The Canadian losses expire in stages beginning in 2026. As of December 31, 2015 and 2014, the Company also has unclaimed Canadian federal scientific research and development investment tax credits, which are available to reduce future federal taxes payable of approximately $201,000 and $193,000, respectively. As a result of losses and uncertainty of future profit, the net deferred tax asset has been fully reserved. The net change in the valuation allowance during the years ended December 31, 2015 and 2014 was an increase of $445,000 and $67,000, respectively. Foreign earnings are assumed to be permanently reinvested. U.S. Federal income taxes have not been provided on undistributed earnings of our foreign subsidiary. The Company recognizes interest and penalties related to uncertain tax positions in selling, general and administrative expenses. The Company has not identified any uncertain tax positions requiring a reserve as of December 31, 2015 and 2014.

Note 8 - Collaborative Agreemen

Note 8 - Collaborative Agreements	12 Months Ended
	Dec. 31, 2015
In Process Research and Development [Member]
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE 8 COLLABORATIVE AGREEMENTS The Company and the University of Toronto, a stockholder of the Company (the “University”) entered into an agreement effective December 14, 2004 (the “Research Agreement”) for the performance of a research project titled “Evidence for existence of TCAP receptors in neurons” (the “Project”). The Research Agreement expired on March 31, 2013. The Company and the University entered into an agreement effective April 1, 2014 (the “New Research Agreement”) for the performance of a research project titled “Teneurin C-terminal Associated Peptide (“TCAP”) mediated stress attenuation in vertebrates: Establishing the role of organismal and intracellular energy and glucose regulation and metabolism" (the “New Project”). The New Project is to perform research related to work done by a professor at the University and stockholder of the Company (the “Professor”) in regard to TCAP mediated stress attenuation in vertebrates: Establishing the role of organismal and intracellular energy and glucose regulation and metabolism. In addition to the New Research Agreement, the Professor entered into an agreement with the University in order to commercialize certain technologies. The New Research Agreement expired on March 31, 2015. In September 2015, the New Research Agreement was extended to March 31, 2016 which allows for further development of the technologies and use of their applications. Upon expiration of the agreement, payments to the University and research support from the University will suspend until an agreement can be made. As of December 31, 2015 the University has been granted 129,000 stock options which are fully vested at exercise prices of $.26 and $1.00 exercisable over 10 year periods which ends either on March 15, 2016 or on April 1, 2022. As of December 31, 2015 the Professor has been granted 483,299 stock options which are fully vested, except for 62,500 stock options, at exercise prices of $0.26 and $1.00 exercisable over 10 or 13 year periods which ends either on March 15, 2016 or on March 1, 2027. The sponsorship research and development expenses were $170,575 and $67,270 pertaining to the Research Agreements for the years ended December 31, 2015 and 2014, respectively.

Note 9 - Licensing Agreements

Note 9 - Licensing Agreements	12 Months Ended
	Dec. 31, 2015
Licensing Agreements [Member]
Notes to Financial Statements
Intangible Assets Disclosure [Text Block]	NOTE 9 LICENSING AGREEMENTS On July 31, 2005, the Company had entered into a Technology License Agreement (“License Agreement”) with the University pursuant to which the University agreed to license to the Company patent rights and other intellectual property, among other things (the “Technologies”). The Technology License Agreement was amended on February 18, 2015 and currently does not provide for an expiration date. Pursuant to the License Agreement and its amendment, the Company obtained an exclusive worldwide license to make, have made, use, sell and import products based upon the Technologies, or to sublicense the Technologies in accordance with the terms of the License Agreement and amendment. In consideration, the Company agreed to pay to the University a royalty payment of 2.5% of net sales of any product based on the Technologies. If the Company elects to sublicense any rights under the License Agreement and amendment, the Company agrees to pay to the University 10% of any up-front sub-license fees for any sub-licenses that occurred on or after September 9, 2006, and, on behalf of the sub-licensee, 2.5% of net sales by the sub-licensee of all products based on the Technologies. The Company had no revenue for the years ended December 31, 2015 and 2014 and therefore was not subject to paying any royalties. In the event the Company fails to provide the University with semi-annual reports on the progress or fails to continue to make reasonable commercial efforts towards obtaining regulatory approval for products based on the Technologies, the University may convert our exclusive license into a non-exclusive arrangement. Interest on any amounts owed under the License Agreement and amendment will be at 3% per annum. All intellectual property rights resulting from the Technologies or improvements thereon will remain the property of the other inventors and/or the Professor, and/or the University, as the case may be. The Company has agreed to pay all out-of- pocket filing, prosecution and maintenance expenses in connection with any patents relating to the Technologies. In the case of infringement upon any patents relating to the Technologies, the Company may elect, at its own expense, to bring a cause of action asserting such infringement. In such a case, after deducting any legal expenses the Company may incur, any settlement proceeds will be subject to the 2.5% royalty payment owed to the University under the License Agreement and amendment. The Company has incurred legal expense for research and development projects associated with the License Agreement and its amendment of $0 and $25,287 during the years ended December 31, 2015 and 2014, respectively. The Company also incurred patent costs for research and development projects associated with the License Agreement and its amendment of $22,435 and $ 60,434 during the years ended December 31, 2015 and 2014, respectively. The patent applications were made in the name of the Professor and other inventors, but the Company’s exclusive, worldwide rights to such patent applications are included in the License Agreement and its amendment with the University. The Company maintains exclusive licensing agreements and it currently controls the six intellectual patent properties.

Note 10 - Commitments and Conti

Note 10 - Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 10 COMMITTMENTS AND CONTINGENCIES Operating Lease with Related Party The Company paid its sole employee and officer, a related party, serving as the interim president and chief operating officer of PTI U.S.A. and a director and president and chief operating officer of PTI Canada (the “Officer/Related Party”), rent on the property which the Company is renting. The Company occupies roughly 1/3 of the total rented area and pays rent in an amount approximately to 1/3 of the monthly rent on the property. As of December 31, 2015, the monthly rent is $430 per month. As of January 1, 2016 under the new employment agreement, we are no longer contractually obligated to pay this rent. Employment Agreement The Company had an employment agreement with its sole employee the Officer/Related Party which expired on December 31, 2015. The employment agreement indicated a salary of $6,489 per month plus a bonus, other healthcare benefits and was granted stock options during the year ended December 31, 2015, the Officer/Related Party has been granted 75,000 stock options, valued at $64,223 using the Black Scholes calculation of which $53,519 was expensed in 2015. Consulting Agreement PTI Canada entered into a consulting agreement with a stockholder of the Company, (the “Consultant”) which expired on December 31, 2015 pursuant to which the Consultant is responsible for overseeing i) design and development of enzyme-linked immunosorbent assay “(ELISA”), assays for measuring TCAP, ii) evaluation of TCAP exposure biomarker assay, iii) development of pipeline peptides, and iv) development of clinically compatible formulations for TCAP, as well as all of the bench research and development of formulation and extraction methods. As of December 31, 2015, the Consultant has been granted 100,000 stock options which are fully vested, except for 4,167 stock options, at an exercise price of $1.00 exercisable over 10 year periods which ends either on March 30, 2021 or on March 1, 2024. The stock options were valued at $42,816 using the Black Scholes calculation of which $35,680 was expensed in 2015. The Consultant is paid approximately CA$1,000 per month. Either party may terminate the agreement (a) immediately at any time upon written notice to the other party in the event of a breach of the agreement by the other party which cannot be cured ( i.e. The Company paid the Consultant $10,861 and $11,650 for research and development projects during the years ended December 31, 2015 and 2014, respectively. Legal Proceedings From time to time we may be named in claims arising in the ordinary course of business. Currently, no legal proceedings, government actions, administrative actions, investigations or claims are pending against us or involve us that, in the opinion of our management, could reasonably be expected to have a material adverse effect on our business and financial condition.

Note 11 - Subsequent Events

Note 11 - Subsequent Events	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 11 SUBSEQUENT EVENTS On February 12, 2016, Protagenic Acquisition Corp. (“ Acquisition Corp. Atrinsic Merger Simultaneously with the Merger, on February 12, 2016, all of the issued and outstanding shares of the Company’s common stock converted, on a 1 for 1 basis, into shares of the Atrinsic’s Series B Preferred Stock, par value $0.000001 per share (“ Series B Preferred Stock Concurrently with the closing of the Merger, we conducted the first closing of an offering (the “Private Offering”) of our Series B Preferred Stock. At the first closing, we sold 2,775,000 shares of Series B Preferred Stock at a purchase price of $1.25 per share, for which we received total gross consideration of $3,468,750. Of this amount, $350,000 consisted of conversion of outstanding stockholder debt held by Garo H. Armen, our chairmen and a member of our board of directors, inclusive of accrued but unpaid interest and $150,000 consisted of the conversion of Predecessor debt (inclusive of accrued but unpaid interest) held by shareholders of the Predecessor which was incurred to pay expenses of the Transactions, as defined below, incurred by or on behalf of the Predecessor. On March 2, 2016 we completed the second closing of the Private Offering, at which we issued an additional 913,200 shares of Series B Preferred Stock to accredited investors, for total gross proceeds of $1,141,500. On April 15, 2016 we completed the final closing of the Private Offering, at which we issued an additional 420,260 shares of Series B Preferred Stock to accredited investors, for total gross proceeds of $525,325. For all three closings, we raised total gross proceeds of $4,635,575 and total net proceeds of $4,283,438 (or total gross proceeds of $5,135,575 and total net proceeds of $4,783,438, including the conversion of the $500,000 in principal and interest referred to above). We issued 4,108,460 shares of Series B Preferred Stock to investors in the Private Offering. The Placement Agent and its selected dealers were paid total cash commissions of $159,183 and the Placement Agent was paid an expense allowance of $15,000 and was issued (together with its selected dealers) Placement Agent Warrants to purchase 127,346 shares of Series B Preferred Stock at an exercise price of $1.25 per share.

Note 12 - Restatement of Previo

Note 12 - Restatement of Previously Issued Financial Statements	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Accounting Changes and Error Corrections [Text Block]	NOTE 12 RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS Subsequent to the original issuance of the Company’s consolidated financial statements for the years ended December 31, 2014 and 2013, Company’s management determined it had misclassified $179,098 of stock compensation expense that arose prior to 2013. Management has evaluated the effect of the error and determined it qualitatively was immaterial to the Company’s financial position and results of operations for the years ended December 31, 2014 and 2013. In accordance with guidelines issued in Staff Accounting Bulletin No. 108, we have revised the financial statements included herein and recorded the adjustment to opening equity. The impact of the revision on the Company’s balance sheet and statement of cash flows is illustrated on a condensed basis below. As a result of the aforementioned reclassification adjustment, there was no impact on the 2014 Statement of Operations. Balance Sheet Amounts Previously Reported Adjustment As Restated Additional paid in capital $ 5,580,548 $ (179,058 ) $ 5,401,490 Accumulated deficit $ (5,461,933 ) $ 179,058 $ (5,282,875 ) Statement of Cash Flows Amounts Previously Reported Adjustment As Restated Cash flows from operating activities: Stock based compensation $ 264,226 $ (179,058 ) $ 85,168 Effect of exchange rate on cash and cash equivalents $ (156,338 ) $ 179,058 $ 22,720

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The consolidated financial statements have been prepared in accordance with U.S. GAAP and include the accounts of PTI U.S.A, and its wholly owned subsidiary, PTI Canada. All significant intercompany transactions and balances have been eliminated from the consolidated financial statements.
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation and Transactions The assets and liabilities of the Company’s foreign subsidiary PTI Canada are translated into U.S. dollars from its functional currency using the exchange rate in effect at the balance sheets date. Additionally, the accounts on the statements of operations are translated using exchange rates approximating average rates prevailing during the years. Equity accounts are translated at historical exchange rates. Translation adjustments that arise from translating its financial statements from the local currency to the U.S. dollar are accumulated and reflected as a separate component of stockholders’ deficit. The current year effect of the transaction adjustments are included on the statement of operations as a foreign currency exchange gain (loss).
Use of Estimates, Policy [Policy Text Block]	Use of Estimates In preparing consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, management is required to make estimates and assumptions that affect the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amount of revenues and expenses during the reporting period. Significant estimates include accruals, contingencies, valuation allowance for deferred tax assets and valuation of stock options and warrants. These estimates may be adjusted as more current information becomes available, and any adjustment could have a significant impact on recorded amounts. Actual results could differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents Cash equivalents consist of money market instruments with an original maturity at the time of purchase of three months or less. The Company maintains its cash and cash equivalents with two high credit quality financial institutions with one located in each the United States and Canada, which at times, may be in excess of insured amounts with the U.S. Federal Deposit Insurance Company and Canada Deposit Insurance Corporation. The Company’s policy is to maintain its cash and cash equivalents with reputable financial institutions assessed on an annual basis. There are no cash equivalents at this time. There is little concentration of credit risk for foreign cash as minimal balances of cash are held by PTI Canada.
Property, Plant and Equipment, Policy [Policy Text Block]	Equipment Equipment was stated at cost less accumulated depreciation. Improvements and replacements of equipment are capitalized. Maintenance and repairs that do not improve or extend the lives of equipment are charged to expense as incurred. When assets are retired, their cost and related accumulated depreciation are removed from the accounts and any gain or loss will be reported in the consolidated statements of operations. Depreciation is computed using straight- line methods over their estimated useful lives ranging from 3 to 5 years.
Research and Development Expense, Policy [Policy Text Block]	Rebates from Research and Development Credits The Company derives rebates from scientific research and experimental development tax credits issued by the Canada Revenue Agency for qualified expenditures. The credits are recognized when the rebate is issued. The amounts received are reinvested into the Company’s scientific research, experimental development and operational works conducted in Canada. Research and Development Expenses, net of Rebates The Company’s research and development expenditures for present and future products are expensed as incurred.
Stockholders' Equity, Policy [Policy Text Block]	Treasury Stock Management of the Company does not plan to retire the stock and applies the cost method to its treasury stock transactions. Differences between proceeds for reissuance of treasury stock and the cost are credited or charged to additional paid in capital to the extent of the prior credits and thereafter to accumulated deficit.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Accounting Standards Codification 820, “Fair Value Measurements and Disclosure,” (“ASC 820”) defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, not adjusted for transaction costs. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels giving the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are described below: Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that is accessible by the Company; Level 2 Inputs – Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly; Level 3 Inputs – Unobservable inputs for the asset or liability including significant assumptions of the Company and other market participants. There were no transfers in or out of any level for the years ended December 31, 2015 and 2014. The Company determines fair values for its investment assets as follows: Cash and cash equivalents, accounts payable, and accrued expenses carry value equals approximately the fair value due to its short term nature. Based on the borrowing rates currently available to the Company for loans with similar terms and the expected short term maturity, the carrying value of the bridge note payable approximates fair value.
Compensation Related Costs, Policy [Policy Text Block]	Stock-Based Compensation The Company accounts for stock based compensation costs under the provisions of ASC No. 718, Compensation—Stock Compensation
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes utilizing the liability method. Deferred income tax assets and liabilities are computed annually for differences between the consolidated financial statement basis and tax basis of assets and liabilities that will result in taxable or deductible amounts in the future based on enacted tax laws and rates applicable to the periods in which the differences are expected to affect taxable income. Income tax expense is the tax payable or refundable for the period plus or minus the change during the period in deferred tax assets and liabilities. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the consolidated financial statement carrying amounts of existing assets and liabilities and their respective tax bases. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets unless it is more likely than not that such asset will be realized. Management has determined that a valuation allowance is required for the deferred tax assets which is primarily attributable to net operating loss carry forwards for federal and state tax purposes. The net operating losses expire through 2035 and 2022 for federal and state taxes, respectively. Thus, the consolidated financial statements do not reflect a deferred tax provision.
Earnings Per Share, Policy [Policy Text Block]	Basic and Diluted Net (Loss) per Common Share Basic (loss) per common share is computed by dividing the net (loss) by the weighted-average number of shares of common stock outstanding for each period. Diluted (loss) per share is computed by dividing the net (loss) by the weighted-average number of shares of common stock outstanding plus the dilutive effect of shares issuable through the common stock equivalents. Potentially dilutive securities consisting of options and warrants aggregating 5,111,111 and 4,371,111 for the years ended December 31, 2015 and 2014, respectively were not included in the calculation of weighted-average shares of common stock outstanding as they were determined to be anti-dilutive.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements On March 30, 2016, the FASB issued ASU 2016-09, "Compensation - Stock Compensation" which simplifies several aspects of the accounting for employee share-based payment transactions for both public and nonpublic entities, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. For public business entities, the ASU is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption will be permitted in any interim or annual period for which financial statements have not yet been issued or have not been made available for issuance. If early adoption is elected, all amendments in the ASU that apply must be adopted in the same period. In addition, if early adoption is elected in an interim period, any adjustments should be reflected as of the beginning of the annual period that includes that interim period. The Company is in the process of evaluating the impact of the standard on its consolidated financial statements. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases In November 2015, the FASB issued ASU No. 2015-17, Income taxes. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements—Going Concern. The provisions of ASU No. 2014-15 require management to assess an entity’s ability to continue as a going concern by incorporating and expanding upon certain principles that are currently in U.S. auditing standards. Specifically, the amendments (1) provide a definition of the term substantial doubt, (2) require an evaluation every reporting period including interim periods, (3) provide principles for considering the mitigating effect of management’s plans, (4) require certain disclosures when substantialdoubt is alleviated as a result of consideration of management’s plans, (5) require an express statement and other disclosures when substantial doubt is not alleviated, and (6) require an assessment for a period of one year after the date that the financial statements are issued (or available to be issued). The amendments in this ASU are effective for the annual period ending after December 15, 2016, and for annual periods and interim periods thereafter. The Company is currently assessing the impact of this ASU on the Company’s consolidated financial statements. Management does not believe that any other recently issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the consolidated financial statements filed with this annual report.

Note 4 - Accounts Payable and20

Note 4 - Accounts Payable and Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	201 5 201 4 Legal expenses $ 186,936 $ 51,120 Salaries 41,166 -- Patent cost 29,239 87,244 Research and development 8,128 6,089 Payroll taxes and employee benefits 6,222 -- Other 4,841 1,280 $ 276,532 $ 145,733

Note 6 - Stockholders' Deficit

Note 6 - Stockholders' Deficit (Tables)	12 Months Ended
	Dec. 31, 2015
By Expiration Date [Member]
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number of Common Stock Equivalents Expiration Date Remaining Contractual Life(Years) Exercise Price 100,000 01/01/2017 1.2 $ 1.25 675,000 07/07/2021 5.5 to 6.7 $ 1.00 2,628,367 12/20/2023 7.3 to 8.1 $ 1.05 3,403,367
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2015 2014 Expected dividend yield 0% 0 % Risk free interest rate 1.66% - 2.43% 2.30 % Expected life in years 10 10 Expected volatility 85% 85 %
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Exercise Weighted Average Number Price Exercise Price Stock Options Outstanding January 1, 2014 977,744 $ 0.60 Granted 240,000 $ 1.00 Outstanding December, 31, 2014 1,217,744 $ 0.68 Granted 490,000 $ 1.25 Outstanding December, 31, 2015 1,707,744 $ 0.84
Schedule of Nonvested Share Activity [Table Text Block]	Number of Options Expiration Date Remaining Contractual Life (Years) Exercise Price 104,150 March 1, 2016 0.17 $ 0.26 312,449 March 15, 2016 0.21 $ 0.26 55,000 August 1, 2016 0.59 $ 0.26 60,000 November 1, 2016 0.84 $ 0.26 21,145 February 1, 2017 1.09 $ 1.00 290,000 March 1, 2021 5.25 $ 1.00 10,000 June 10, 2021 5.45 $ 1.00 50,000 April 1, 2022 6.25 $ 1.00 75,000 December 1, 2022 6.92 $ 1.00 90,000 March 1, 2024 8.17 $ 1.00 215,000 March 1, 2025 9.17 $ 1.25 75,000 March 9, 2025 9.19 $ 1.25 150,000 March 1, 2027 11.17 $ 1.00 200,000 January 22, 2030 14.07 $ 1.25 1,707,744
Schedule of Warrants Outstanding [Table Text Block]	December 31, 2015 December 31, 2014 Financing and stock subscriptions (includes 300,000 warrants to the Major Stockholder and Chairman) 2,100,000 2,100,000 Consultants 350,000 100,000 Major Stockholder and Chairman 953,367 953,367 Total Warrants Issued 3,403,367 3,153,367
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Exercise Weighted Average Number Price Exercise Price Warrants Outstanding January 1, 2014 3,153,367 $ 1.01 Granted - $ - Outstanding December, 31, 2014 3,153,367 $ 1.00 Granted 250,000 $ 1.25 Outstanding December, 31, 2015 3,403,367 $ 1.05

Note 7 - Income Taxes (Tables)

Note 7 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block]	2015 2014 Domestic (747,693 ) 16,001 Foreign (275,729 ) (318,482 ) (Loss) income before income taxes (1,023,422 ) (302,481 )
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2015 2014 Income taxes at Federal statutory rate -34.0 % -34.0 % State income taxes, net of Federal income tax effect -13.0 % -6.0 % Foreign tax rate differential 2.4 % 0.0 % Change in valuation allowance 43.5 % 40.0 % Other 1.1 % 0.0 % Income tax provision 0.0 % 0.0 %
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2015 2014 U.S. net operating loss carryforwards 563,000 401,000 Stock compensation 206,000 - Canadian Provincial income tax losses 402,000 333,000 Canadian Provincial scientific investment tax credits 201,000 193,000 1,372,000 927,000 Valuation allowance (1,372,000 ) (927,000 ) Net deferred tax assets - -

Note 12 - Restatement of Prev23

Note 12 - Restatement of Previously Issued Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block]	Balance Sheet Amounts Previously Reported Adjustment As Restated Additional paid in capital $ 5,580,548 $ (179,058 ) $ 5,401,490 Accumulated deficit $ (5,461,933 ) $ 179,058 $ (5,282,875 ) Statement of Cash Flows Amounts Previously Reported Adjustment As Restated Cash flows from operating activities: Stock based compensation $ 264,226 $ (179,058 ) $ 85,168 Effect of exchange rate on cash and cash equivalents $ (156,338 ) $ 179,058 $ 22,720

Note 2 - Liquidity (Details Tex

Note 2 - Liquidity (Details Textual) - USD ($)	Apr. 16, 2016	Apr. 15, 2016	Apr. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Subsequent Event [Member] | Private Placement [Member] | Including Conversion of Principal and Interest [Member] | Series B Preferred Stock [Member]
Proceeds from Issuance of Private Placement			$ 4,635,575
Proceeds From Issuance of Private Placement, Net of Issuance Costs			$ 4,283,438
Subsequent Event [Member] | Private Placement [Member]
Proceeds from Issuance of Private Placement	$ 4,635,575
Proceeds From Issuance of Private Placement, Net of Issuance Costs	$ 4,283,438
Subsequent Event [Member] | Series B Preferred Stock [Member]
Proceeds from Issuance of Private Placement		$ 525,325
Scenario, Forecast [Member]
Effect on Future Cash Flows, Amount				$ 2,691,000
Net Income (Loss) Attributable to Parent					$ (1,023,422)	$ (302,481)
Retained Earnings (Accumulated Deficit)					(6,306,297)	$ (5,282,875)
Net Working Capital					$ (675,015)

Note 3 - Summary of Significa25

Note 3 - Summary of Significant Accounting Policies (Details Textual) - shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	5 years
Options and Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	5,111,111	4,371,111

Note 4 - Summary of Accounts Pa

Note 4 - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Legal expenses	$ 186,936	$ 51,120
Salaries	41,166
Patent cost	29,239	87,244
Research and development	8,128	6,089
Payroll taxes and employee benefits	6,222
Other	4,841	1,280
	$ 276,532	$ 145,733

Note 5 - Bridge Loans Payable27

Note 5 - Bridge Loans Payable - Stockholder (Details Textual) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015	Dec. 31, 2014
Chairman and Stockholder [Member] | Bridge Loan [Member] | Common Stock [Member] | Subsequent Event [Member]
Debt Instrument, Convertible, Conversion Price	$ 1.25
Chairman and Stockholder [Member] | Bridge Loan [Member] | Common Stock [Member]
Debt Instrument, Convertible, Conversion Price		$ 1.25
Chairman and Stockholder [Member] | Bridge Loan [Member]
Debt Instrument, Interest Rate, Stated Percentage		10.00%
Interest Expense		$ 11,473
Chairman and Stockholder [Member] | Bridge Loan, Principal [Member] | Common Stock [Member] | Subsequent Event [Member]
Debt Instrument, Convertible, Conversion Price	$ 1.25
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments	$ 350,000
Chairman and Stockholder [Member]
Bridge Loan		399,103
Bridge Loan		399,103	$ 0
Interest Expense		$ 11,473

Note 6 - Stockholders' Defici28

Note 6 - Stockholders' Deficit (Details Textual) - USD ($)	Apr. 01, 2012	Dec. 31, 2015	Dec. 31, 2014	Feb. 18, 2023	May 19, 2021	Oct. 02, 2015	Oct. 01, 2015	Dec. 31, 2013	Mar. 15, 2006
Common Stock [Member]
Stock Issued During Period, Shares, New Issues		0	0
The 2006 Plan [Member] | Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	1 year	180 days
The 2006 Plan [Member] | Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	5 years	5 years
The 2006 Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	2,000,000								140,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
The 2006 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		490,000	240,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 1.25	$ 1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period		0	0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		292,256	782,256
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options		$ 290,985
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value		0
Employee Stock Option [Member]
Allocated Share-based Compensation Expense		$ 190,751	$ 85,168
Warrant [Member]
Common Stock, Par or Stated Value Per Share		$ 0.001
Allocated Share-based Compensation Expense		$ 287,878	$ 0
Shares Issued, Price Per Share		$ 1
Major Stockholder and Chairman [Member] | Scenario, Forecast [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				317,789	100,000
Major Stockholder and Chairman [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 1
Class of Warrant or Right, Exercise Period		10 years
Class of Warrant or Right, Issued		1,253,367
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		417,789
Common Stock, Par or Stated Value Per Share		$ 0.001	$ 0.001			$ 0.001
Common Stock, Shares Authorized		20,000,000	20,000,000			20,000,000	10,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		490,000	240,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price		$ 1.25	$ 1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number		1,707,744	1,217,744					977,744
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		3
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 1
Class of Warrant or Right, Exercise Period		10 years

Note 6 - Fair Value Assumption

Note 6 - Fair Value Assumption (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Minimum [Member]
Risk free interest rate	1.66%
Maximum [Member]
Risk free interest rate	2.43%
Expected dividend yield	0.00%	0.00%
Risk free interest rate		2.30%
Expected life in years	10 years	10 years
Expected volatility	85.00%	85.00%

Note 6 - Stock Option Grant Act

Note 6 - Stock Option Grant Activity (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Outstanding (in shares)	1,217,744	977,744
Outstanding (in dollars per share)	$ 0.68	$ 0.60
Granted (in shares)	490,000	240,000
Granted (in dollars per share)	$ 1.25	$ 1
Outstanding (in shares)	1,707,744	1,217,744
Outstanding (in dollars per share)	$ 0.84	$ 0.68

Note 6 - Analysis of Non-vested

Note 6 - Analysis of Non-vested Stock Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Non-Vested Stock Options 1 [Member]
Number of Options (in shares)	104,450
Remaining Contractual Life	62 days
Exercise Price (in dollars per share)	$ 0.26
Non-Vested Stock Options 2 [Member]
Number of Options (in shares)	312,449
Remaining Contractual Life	76 days
Exercise Price (in dollars per share)	$ 0.26
Non-Vested Stock Options 3 [Member]
Number of Options (in shares)	55,000
Remaining Contractual Life	215 days
Exercise Price (in dollars per share)	$ 0.26
Non-Vested Stock Options 4 [Member]
Number of Options (in shares)	60,000
Remaining Contractual Life	306 days
Exercise Price (in dollars per share)	$ 0.26
Non-Vested Stock Options 5 [Member]
Number of Options (in shares)	21,146
Remaining Contractual Life	1 year 32 days
Exercise Price (in dollars per share)	$ 1
Non-Vested Stock Options 6 [Member]
Number of Options (in shares)	290,000
Remaining Contractual Life	5 years 91 days
Exercise Price (in dollars per share)	$ 1
Non-Vested Stock Options 7 [Member]
Number of Options (in shares)	10,000
Remaining Contractual Life	5 years 164 days
Exercise Price (in dollars per share)	$ 1
Non-Vested Stock Options 8 [Member]
Number of Options (in shares)	50,000
Remaining Contractual Life	6 years 91 days
Exercise Price (in dollars per share)	$ 1
Non-Vested Stock Options 9 [Member]
Number of Options (in shares)	75,000
Remaining Contractual Life	6 years 335 days
Exercise Price (in dollars per share)	$ 1
Non-Vested Stock Options 10 [Member]
Number of Options (in shares)	90,000
Remaining Contractual Life	8 years 62 days
Exercise Price (in dollars per share)	$ 1
Non-Vested Stock Options 11 [Member]
Number of Options (in shares)	215,000
Remaining Contractual Life	9 years 62 days
Exercise Price (in dollars per share)	$ 1.25
Non-Vested Stock Options 12 [Member]
Number of Options (in shares)	75,000
Remaining Contractual Life	9 years 69 days
Exercise Price (in dollars per share)	$ 1.25
Non-Vested Stock Options 13 [Member]
Number of Options (in shares)	150,000
Remaining Contractual Life	11 years 62 days
Exercise Price (in dollars per share)	$ 1
Non-Vested Stock Options 14 [Member]
Number of Options (in shares)	200,000
Remaining Contractual Life	14 years 25 days
Exercise Price (in dollars per share)	$ 1.25
Number of Options (in shares)	1,707,744
Exercise Price (in dollars per share)	$ 0.84	$ 0.68	$ 0.60

Note 6 - Warrants Outstanding (

Note 6 - Warrants Outstanding (Details) - shares	Dec. 31, 2015	Dec. 31, 2014
Warrant Issued for Financing and Stock Subscriptions [Member]
Warrants Outstanding (in shares)	2,100,000	2,100,000
Warrants Issued to Consultants [Member]
Warrants Outstanding (in shares)	350,000	100,000
Warrants Issued to a Major Stockholder and Chairman [Member]
Warrants Outstanding (in shares)	953,367	953,367
Warrants Outstanding (in shares)	3,403,367	3,153,367

Note 6 - Warrants Outstanding33

Note 6 - Warrants Outstanding (Details) (Parentheticals) - shares	Dec. 31, 2015	Dec. 31, 2014
Warrant Issued for Financing and Stock Subscriptions [Member] | Major Stockholder and Chairman [Member]
Warrants Outstanding (in shares)	300,000	300,000
Warrant Issued for Financing and Stock Subscriptions [Member]
Warrants Outstanding (in shares)	2,100,000	2,100,000
Warrants Outstanding (in shares)	3,403,367	3,153,367

Note 6 - Summary of Warrants (D

Note 6 - Summary of Warrants (Details) - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Outstanding (in shares)	3,153,367	3,153,367
Outstanding (in dollars per share)	$ 1	$ 1.01
Granted (in shares)	250,000
Granted (in dollars per share)	$ 1.25
Outstanding (in shares)	3,403,367	3,153,367
Outstanding (in dollars per share)	$ 1.05	$ 1

Note 6 - Summary of Warrants Is

Note 6 - Summary of Warrants Issued and Outstanding (Details)	12 Months Ended
	Dec. 31, 2015$ / shares
Expires on January 1, 2017 [Member]
Remaining Contractual Life	1 year 73 days
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.25
Expires on July 7, 2021 [Member] | Minimum [Member]
Remaining Contractual Life	5 years 182 days
Expires on July 7, 2021 [Member] | Maximum [Member]
Remaining Contractual Life	6 years 255 days
Expires on July 7, 2021 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1
Expires on December 20, 2023 [Member] | Minimum [Member]
Remaining Contractual Life	7 years 109 days
Expires on December 20, 2023 [Member] | Maximum [Member]
Remaining Contractual Life	8 years 36 days
Expires on December 20, 2023 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.05
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1

Note 7 - Income Taxes (Details

Note 7 - Income Taxes (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Domestic Tax Authority [Member]
Operating Loss Carryforwards	$ 1,310,000	$ 1,041,000
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	1,303,000	1,033,000
Foreign Tax Authority [Member]
Operating Loss Carryforwards	1,256,000	980,000
Effective Income Tax Rate Reconciliation, Tax Credit, Research, Amount	$ 201,000	$ 193,000
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	34.00%	34.00%
Unrecognized Tax Benefits	$ 0	$ 0
Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount	$ 445,000	$ 67,000

Note 7 - Components of (Loss) I

Note 7 - Components of (Loss) Income before Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Domestic	$ (747,693)	$ 16,001
Foreign	(275,729)	(318,482)
(Loss) income before income taxes	$ (1,023,422)	$ (302,481)

Note 7 - Effective Tax Expense

Note 7 - Effective Tax Expense (Benefit) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Income taxes at Federal statutory rate	(34.00%)	(34.00%)
State income taxes, net of Federal income tax effect	(13.00%)	(6.00%)
Foreign tax rate differential	2.40%	0.00%
Change in valuation allowance	43.50%	40.00%
Other	1.10%	0.00%
Income tax provision	0.00%	0.00%

Note 7 - Deferred Tax Assets an

Note 7 - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Foreign Tax Authority [Member]
Canadian Provincial income tax losses	$ 402,000	$ 333,000
Canadian Provincial scientific investment tax credits	201,000	193,000
U.S. net operating loss carryforwards	563,000	401,000
Stock compensation	206,000
	1,372,000	927,000
Valuation allowance	(1,372,000)	(927,000)
Net deferred tax assets

Note 8 - Collaborative Agreem40

Note 8 - Collaborative Agreements (Details Textual) - USD ($)	12 Months Ended		133 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015
University of Toronto [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 0.26		$ 0.26
University of Toronto [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	1		$ 1
University of Toronto [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
University of Toronto [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures			129,000
Professor [Member] | Minimum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Professor [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	0.26		$ 0.26
Professor [Member] | Maximum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			13 years
Professor [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	$ 1		$ 1
Professor [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures			483,299
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares	62,500		62,500
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares	1,707,744		1,707,744
Research and Development Expense, Sponsored Research	$ 170,575	$ 67,270

Note 9 - Licensing Agreements (

Note 9 - Licensing Agreements (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Licensing Agreements [Member]
Royalty Payment, Percentage	2.50%
Up-front Sub-license Fees, Percentage	10.00%
Interest on Amounts Owed Under License Agreement, Rate	3.00%
Research and Development Expense, Legal Fees	$ 0	$ 25,287
Research and Development Expense, Patents	22,435	60,434
Revenues	0	0
Research and Development Expense, Legal Fees	164,855	25,287
Research and Development Expense, Patents	$ 22,435	$ 60,434

Note 10 - Commitments and Con42

Note 10 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2015CADshares	Dec. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2014USD ($)
Employment [Member]
Compensation	CAD 19	$ 6,489
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares	75,000	75,000
Stock Issued During Period, Value, Stock Options Exercised		$ 64,223
Stock Issued, Value, Stock Options Exercised, Net of Tax Benefit (Expense)		$ 53,519
Consultant [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	10 years	10 years
Consultant [Member]
Compensation | CAD	CAD 1,000
Stock Issued During Period, Value, Stock Options Exercised		$ 42,816
Stock Issued, Value, Stock Options Exercised, Net of Tax Benefit (Expense)		$ 35,680
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | shares	100,000	100,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares | shares		4,167
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares		$ 1
Research and Development Expense		$ 10,861	$ 11,650
Operating Leases, Rent Expense		$ 430
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares | shares		1,707,744
Research and Development Expense		$ 456,274	$ 191,069

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual)	Apr. 16, 2016USD ($)$ / sharesshares	Apr. 15, 2016USD ($)shares	Mar. 02, 2016USD ($)shares	Feb. 12, 2016USD ($)$ / sharesshares
Protagenic Therapeutics Inc [Member] | Series B Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share | $ / shares				$ 0.000001
Protagenic Therapeutics Inc [Member]
Business Acquisition, Conversion of Stock, Ratio				1
Business Combination, Stock Warrant Conversion Ratio				1
Series B Preferred Stock [Member] | Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio				15,463.7183
Series B Preferred Stock [Member] | Private Placement [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues | shares		420,260
Series B Preferred Stock [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues | shares			913,200	2,775,000
Shares Issued, Price Per Share | $ / shares				$ 1.25
Stock Issued During Period, Value, New Issues				$ 3,468,750
Proceeds from Issuance of Convertible Preferred Stock			$ 1,141,500
Series B Preferred Stock [Member] | Private Placement Offering [Member] | Subsequent Event [Member]
Stock Issued During Period, Shares, New Issues | shares	4,108,460
Series B Preferred Stock [Member] | Placement Agent Warrants [Member] | Subsequent Event [Member]
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 1.25
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares	127,346
Series B Preferred Stock [Member] | Subsequent Event [Member]
Proceeds from Issuance of Private Placement		$ 525,325
Private Placement [Member] | Subsequent Event [Member]
Proceeds from Issuance of Private Placement	$ 4,635,575
Proceeds From Issuance of Private Placement, Net of Issuance Costs	4,283,438
Private Placement Offering [Member] | Subsequent Event [Member]
Stock Issued During Period, Value, Conversion of Convertible Securities	500,000
Proceeds from Issuance of Private Placement	5,135,575
Proceeds From Issuance of Private Placement, Net of Issuance Costs	4,783,438
Placement Agent Warrants [Member] | Subsequent Event [Member]
Payments for Commissions	159,183
Cost and Expense Allowance	$ 15,000
Conversion of Outstanding Stockholder Debt [Member] | Chairman and Board Member Garo H. Armen [Member]
Stock Issued During Period, Value, Conversion of Convertible Securities				350,000
Conversion of Outstanding Stockholder Debt [Member] | Predecessor's Stockholder [Member]
Stock Issued During Period, Value, Conversion of Convertible Securities				$ 150,000

Note 12 - Restatement of Prev44

Note 12 - Restatement of Previously Issued Financial Statements (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Restatement Adjustment [Member]
Share-based Compensation		$ (179,058)
Share-based Compensation	$ 478,629	$ 85,168

Note 12 - Restated Financial St

Note 12 - Restated Financial Statements (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Scenario, Previously Reported [Member]
Additional paid in capital		$ 5,580,548
Retained Earnings (Accumulated Deficit)		(5,461,933)
Cash flows from operating activities:
Share-based Compensation		264,226
Effect of exchange rate on cash and cash equivalents		(156,338)
Restatement Adjustment [Member]
Additional paid in capital		(179,058)
Retained Earnings (Accumulated Deficit)		179,058
Cash flows from operating activities:
Share-based Compensation		(179,058)
Effect of exchange rate on cash and cash equivalents		179,058
Additional paid in capital	$ 5,880,119	5,401,490
Retained Earnings (Accumulated Deficit)	(6,306,297)	(5,282,875)
Share-based Compensation	478,629	85,168
Effect of exchange rate on cash and cash equivalents	$ (23,888)	$ 22,720