Protagenic Therapeutics (PTIX) 10-Q 15 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Jul. 27, 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	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		10,433,396
Document Type	10-Q
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Series B Preferred Stock [Member]
STOCKHOLDERS' EQUITY (DEFICIT)
Series B convertible preferred stock, $0.000001 par value, 18,000,000 shares authorized, 11,018,766 and 0 shares issued and outstanding at June 30, 2016 and December 31, 2015, respectively	$ 11
Cash and cash equivalents	3,788,189	3,343
TOTAL CURRENT ASSETS	3,788,189	3,343
Computer	1,439	1,569
OTHER ASSETS		6,230
TOTAL ASSETS	3,789,628	11,142
Bridge loan payable - stockholder and accrued interest		399,103
Accounts payable and accrued expenses	87,278	279,255
Derivative liability	515,819
TOTAL CURRENT LIABILITIES	603,097	678,358
Common stock, $.0001 par value, 100,000,000 shares authorized, 86,078 shares issued and outstanding at June 30, 2016 , 7,612,838 shares issued and 6,612,838 shares outstanding at December 31, 2015	9	761
Additional paid-in-capital	10,928,024	6,612,838
Accumulated deficit	(7,570,570)	(6,306,297)
Treasury stock, at cost $.001 par value, 1,000,000 shares, for December 31, 2015		(100,000)
Accumulated other comprehensive loss	(170,943)	(148,651)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT)	3,186,531	(667,216)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	$ 3,789,628	$ 11,142

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Series B Preferred Stock [Member]
Preferred Stock, Par Value (in dollars per share)	$ 0.000001	$ 0.000001
Preferred Stock, Shares Authorized (in shares)	18,000,000	18,000,000
Preferred Stock, Shares Issued (in shares)	11,018,766	11,018,766
Preferred Stock, Shares Outstanding (in shares)	0	0
Common Stock, Par Value (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	100,000,000	100,000,000
Common Stock, Shares Issued (in shares)	86,078	7,612,838
Common Stock, Shares Outstanding (in shares)	86,078	6,612,838
Treasury Stock, Par Value	$ 0.001	$ 0.001
Treasury Stock, Shares (in shares)	1,000,000	1,000,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
REVENUE			$ 0	$ 0
OPERATING AND ADMINISTRATIVE EXPENSES
Research and development	374,206	39,975	422,721	61,424
General and administrative	122,450	60,988	395,508	89,460
Goodwill impairment			404,169
TOTAL OPERATING AND ADMINISTRATIVE EXPENSES	496,656	100,963	1,222,398	150,884
LOSS FROM OPERATIONS	(496,656)	(100,963)	(1,222,398)	(150,884)
OTHER (EXPENSE) INCOME
Interest income	279		279
Interest expense - stockholder	(1,767)		(7,161)
Realized (loss) gain on foreign exchange transactions	543	(8,156)	(6,599)	3,974
Change in fair value of derivative liability	(26,887)		(28,394)
TOTAL OTHER (EXPENSE) INCOME	(27,832)	(8,156)	(41,875)	3,974
NET LOSS	(524,488)	(109,119)	(1,264,273)	(146,910)
COMPREHENSIVE LOSS
Foreign exchange translation gain (loss)	21,868	12,815	22,292	(109)
TOTAL COMPREHENSIVE LOSS	$ (502,620)	$ (96,304)	$ (1,241,981)	$ (147,019)
Net loss per share - Basic and Diluted (in dollars per share)	$ (14.93)	$ (0.02)	$ (0.71)	$ (0.02)
Weighted average common shares - Basic and Diluted (in shares)	35,130	6,612,838	1,781,338	6,612,838

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Stockholders' Equity (Deficit) (Unaudited) - 6 months ended Jun. 30, 2016 - USD ($)	Preferred Stock [Member]Series B Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	AOCI Attributable to Parent [Member]	Total
BALANCE (in shares) at Dec. 31, 2015		7,612,838			(1,000,000)
BALANCE at Dec. 31, 2015		$ 761	$ 5,886,971	$ (6,306,297)	$ (100,000)	$ (148,651)	$ (667,216)
Atrinsic shares converted (in shares)	297,468	25,867
Atrinsic shares converted	$ 1	$ 3	63,381				63,385
Protagenic shares converted (in shares)	6,612,838	(7,612,838)			1,000,000
Protagenic shares converted	$ 6	$ (761)	(99,245)		$ 100,000
Warrants issued for exchange of debt			340,784				340,784
Stock Issued During Period, Shares, New Issues	4,108,460
Stock Issued During Period, Value, New Issues	$ 4		4,761,793				4,761,797
Warrants issued to placement agent			146,641				146,641
Reclassification of warrants to derivative liability			(487,425)				(487,425)
Foreign currency translation (loss)						(22,292)	(22,292)
Stock compensation - stock options			239,865				239,865
Conversion of Bridge loan (in shares)		60,211
Conversion of Bridge loan		$ 6	75,259				75,265
Net loss				(1,264,273)			(1,264,273)
BALANCE (in shares) at Jun. 30, 2016	11,018,766	86,078
BALANCE at Jun. 30, 2016	$ 11	$ 9	$ 10,928,024	$ (7,570,570)		$ (170,943)	$ 3,186,531

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Series B Preferred Stock [Member]
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of Series B Preferred Stock	$ 4,283,437
Goodwill Acquired through Stock Issuance to Predecessor Stockholders [Member]
NONCASH TRANSACTIONS
Goodwill recognized in connection with reverse business combination	404,169
Net loss	(1,264,273)	(146,910)
Depreciation expense	234
Goodwill impairment	404,169
Stock based compensation	239,865	81,077
Interest added on bridge loan	7,161
Legal fees satisfied through issuance of Series B preferred stock	150,000
Change in fair value of the derivative liability	28,394
Other receivables	6,428	(377)
Other assets		4,147
Accounts payable and accrued expenses	(74,422)	(5,423)
NET CASH USED IN OPERATING ACTIVITIES	(502,443)	(67,486)
Proceeds from sale of common stock		50,201
Proceeds from bridge loan	19,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	4,302,437	50,201
Effect of exchange rate on cash and cash quivalents	(15,148)	(109)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	3,784,846	(17,394)
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	3,343	22,733
CASH AND CASH EQUIVALENTS, END OF PERIOD	3,788,189	5,339
Cash paid for interest expense
Cash paid for income taxes
Warrants issued to placement agent	146,641
Warrants issued for Atrinsic debt settlement and conversion	340,784
Debt settled with issuance of Series B preferred stock	425,265
Reclassification of warrants to derivative liabilities from equity	487,425
Accrued liabilities paid through the issuances of Series B preferred stock	$ 125,000

Note 1 - Organization and Natur

Note 1 - Organization and Nature of Business	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Nature of Operations [Text Block]	NOTE 1 – ORGANIZATION AND NATURE OF BUSINESS Company Background Protagenic Therapeutics, Inc. (“Protagenic”) was originally incorporated in Delaware on February 3, 1994 under the name Millbrook Acquisition Corp. The Company was the successor to The Millbrook Press Inc., which was a wholly-owned subsidiary of Antia Publishing Company, a Delaware corporation, which in turn was a wholly-owned subsidiary of Groupe de la Cite International, a Science Anonyme organized under French law. In February 1994, the founders of the Company effected a management buyout by forming the Company which purchased substantially all of the assets of The Millbrook Press Inc. For the next 10 years, the Company was involved in a variety of attempts at creating a profitable, sustainable business model in the publishing and retail sectors, none of which succeeded. On February 6, 2004, the Company filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code with the United States Bankruptcy Court for the District of Connecticut (the "Bankruptcy Court") and changed its name to MPLC, Inc. That same year, a biotechnology company called Protagenic Therapeutics, Inc. (referred to herein as “Protagenic”) was organized on September 29, 2004 in the State of Delaware. On September 14, 2015, Protagenic obtained its renewal and revival of its Delaware charter which had become inoperative effective August 7, 2015. The Company is a 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 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 Protagenic (collectively, the “Company”). It provides operational support and assistance for the implementation of corporate and operational activities conducted in Canada. On January 31, 2007, MPLC, Inc. entered into an exchange agreement ("Exchange Agreement") with New Motion, Inc., a Delaware corporation formed in March 2005 (“New Motion”), the stockholders of New Motion (the "Stockholders"), and Trinad Capital Master Fund. On May 2, 2007, the Company changed its corporate name to New Motion, Inc., As part of a corporate re-branding strategy, on June 25, 2009, New Motion, Inc. changed its name to Atrinsic, Inc. Its new corporate image was as a provider of “digital advertising and marketing services,” primarily digital music, casual games, interactive contests, and communities/lifestyles. The Reverse Business Combination (Merger) On February 12, 2016 (“Closing Date”), Protagenic Acquisition Corp. (“Acquisition Corp.”), a wholly-owned subsidiary of Atrinsic, Inc. (“Atrinsic”), merged (the “Merger”) with and into 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. On June 17, 2016, Atrinsic, Inc. changed its name to Protagenic Therapeutics, Inc. On the Closing Date, all of the issued and outstanding (6,612,838) shares of Protagenic common stock converted, on a 1 for 1 basis, into shares of the Company’s Series B Convertible Preferred Stock, par value $0.000001 per share (“Series B Preferred Stock”). Also on the Closing Date, all of the issued and outstanding options to purchase shares of Protagenic common stock, and all of the issued and outstanding warrants to purchase shares of Protagenic common stock, converted, on a 1 for 1 basis, into options (the “New Options”) and warrants (the “New Warrants”) respectively, to purchase shares of Series B Preferred Stock. New Options to purchase 1,807,744 shares of Series B Preferred, having an average exercise price of approximately $0.87 per share, were issued to Protagenic optionees. New Warrants to purchase 3,403,367 shares of Series B Preferred Stock at an average exercise price of approximately $1.03 per share were issued to holders of Protagenic warrants. The common stockholders of Atrinsic, Inc. before the Merger (“Predecessor”) retained 25,867 shares of common stock, par value $0.0001 per share (the “Common Stock”). Upon the effectiveness of the Merger, the holders of the Predecessor’s Series A Preferred Stock exchanged all of the issued and outstanding Series A Preferred Stock for an aggregate of 297,468 shares of Series B Preferred Stock. In addition, the holders of options to purchase Predecessor common stock were issued options (“Predecessor Options”) to purchase 17,784 shares of Series B Preferred Stock at $1.25 per share. Warrants (“Predecessor Warrants”) to purchase 295,945 shares of Series B Preferred Stock at $1.25 per share were issued to Strategic Bio Partners, LLC, the designee (the “Designee”) of the holders of the Predecessor’s debt in consideration of the cancellation of such debt amounting to $665,000 in principal and $35,000 in interest. The Merger is being accounted for as a “Reverse Business Combination,” and Protagenic is deemed to be the accounting acquirer in the merger. Consequently, the assets and liabilities and the historical operations that will be reflected in the financial statements prior to the Merger will be those of Protagenic, and the consolidated financial statements after completion of the Merger will include the assets and liabilities of Protagenic, historical operations of Protagenic and combined operations of Protagenic and Atrinsic from the Closing Date of the Merger.. Further, as a result of the issuance of the shares of Series B Preferred Stock pursuant to the Merger, a change in control of the Company occurred as of the date of consummation of the Merger. The Merger will be treated as a recapitalization of the Company for financial accounting purposes. The historical financial statements of Predecessor before the Merger will be replaced with the historical financial statements of Protagenic before the Merger in all future filings with the Securities and Exchange Commission (the “SEC”). At the closing of the Merger Atrinsic had a 51% interest in MomSpot LLC, and the remaining 49% was held by B.E. Global LLC. Barry Eisenberg is the sole owner of B.E. Global LLC and is the Chief Executive Officer of MomSpot LLC. Immediately after the closing of the Merger, the Company split off its 51% membership interests in MomSpot LLC. The split-off was accomplished through the transfer of all of its membership interests of MomSpot LLC, having nominal value, to B.E. Global LLC via a split off agreement for nominal consideration. Immediately after the closing of the Merger, the Company also split off all of its equity interest in 29 wholly-owned subsidiaries of Atrinsic. The split-off was accomplished through the sale of all equity interests in these wholly-owned subsidiaries to Quintel Holdings, Inc. for nominal considerations via a split off agreement. These entities had nominal value. The Private Offering Concurrently and a condition of 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 the conversion of outstanding stockholder debt held by Garo H. Armen, our chairmen and a member of our board of directors, and $150,000 of legal expenses incurred by Strategic Bio Partners, LLC, stockholders of the Predecessor, in conjunction with and as allowed by the Merger agreement. 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. We paid the Placement Agent and its selected dealers total cash commissions of $159,183 including allowable expense of $15,000 and $266,727 of additional legal and miscellaneous fees. We also issued Placement Agent Warrants to purchase 127,346 shares of Series B Preferred Stock valued at $146,641 using a Black-Scholes model at an exercise price of $1.25 per share to the Placement Agent and its selected dealers. The Company determined the fair value of the binomial lattice model and the Black-Scholes valuation model to be materially the same. For all three closings, we issued 4,108,460 shares of Series B Preferred Stock and 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 $350,000 in principal of stockholder debt, and $150,000 of legal expenses incurred by the Predecessor stockholders. Debt Exchange Simultaneous with the Merger and the Private Offering, holders of $665,000 of Atrinsic debt accompanied with $35,000 in accrued interest exchanged such debt for Predecessor Warrants to purchase 295,945 shares of Series B Preferred Stock at $1.25 per share. The Predecessor Warrants were valued at $340,784 (see Note 6). The Reverse Split On July 27, 2016 we effectuated a 1-for-15,463.7183 Reverse Split which will trigger the automatic conversion of our Series B Preferred Stock into our common stock. As a result of the Reverse Split, each share of our Series B Preferred Stock will convert into approximately one share of our common stock. Upon the effectiveness of the Reverse Split, the 11,018,766 outstanding shares of our Series B Preferred Stock will immediately and automatically convert into 11,018,766 shares of our common stock (accounting for the Reverse Split ratio). Our Series B Preferred Stock will cease to be designated as a separate series of our preferred stock when all of such shares have converted into shares of our common stock. Also at this time, the total number of stock which the Company is authorized to issue will be 120,000,000, consisting of 100,000,000 shares of common stock at a par value of $0.0001 per share and 20,000,000 shares of preferred stock at a par value of $0.000001 per share. All share and per share amounts for the common stock have been retroactively restated to give effect to the reverse split.

Note 2 - Liquidity

Note 2 - Liquidity	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Liquidity and Going Concern [Text Block]	NOTE 2 - LIQUIDITY As shown in the accompanying condensed consolidated financial statements, the Company incurred a net loss of $1,264,273 and $146,910 for the six months ended June 30, 2016 and 2015, respectively and $524,488 and $109,119 for the three months ended June 30, 2016 and 2015, respectively. The Company has incurred losses since inception resulting in an accumulated deficit of $7,570,570 as of June 30, 2016. The net loss presented for the three and six months is attributed to goodwill impairment, an increase in professional fees as related to the Merger, and an increase in stock compensation expense. The net loss present for the prior period was attributed to stock compensation expense and research and development expenses. The Company anticipates further losses in the development of its business. The Company had a net working capital of $3,185,092 at June 30, 2016 as a result of the Merger and simultaneous financings. Based on its current forecast and budget, Management believes that the Company’s cash resources will be sufficient to fund its operations for nearly two years from the date of this quarterly report. Absent generation of sufficient revenue from the execution of the Company’s business plan, it will need to obtain debt or equity financing in early 2018.

Note 3 - Summary of Significant

Note 3 - Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	NOTE 3 - SUMMARY OF SIGNFICANT ACCOUNTING POLICIES Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the SEC for interim financial information. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments, consisting of normal, recurring adjustments, considered necessary for a fair presentation of the results for the interim periods ended June 30, 2016 and 2015. As this is an interim period financial statement, certain adjustments are not necessary as with a financial period of a full year. Although management believes that the disclosures in these unaudited condensed consolidated financial statements are adequate to make the information presented not misleading, certain information and footnote disclosures normally included in financial statements that have been prepared in accordance U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The condensed consolidated financial statements include the accounts of Atrinsic, Inc., and its wholly owned subsidiary, Protagenic Acquisition Corp, and Protagenic Therapeutics, Inc., which was merged with and into Protagenic Acquisition Corp, on February 12, 2016, as well as Protagenic Therapeutics’ wholly-owned Canadian subsidiary, PTI Canada. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s financial statements for the year ended December 31, 2015, which contains the audited financial statements and notes thereto, for the years ended December 31, 2015 and 2014 included within the Company’s Form 8-K/A filed with the SEC on July 12, 2016. The interim results for the three months ended and six months ended June 30, 2016 are not necessarily indicative of the results to be expected for the year ended December 31, 2016 or for any future interim periods. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Significant estimates underlying the consolidated financial statements include the allocation of the fair value of acquired assets and liabilities associated with the Merger, assessment of intangible assets, including goodwill and income tax provisions and allowances. The Company also relies on estimates for the valuation of stock-based compensation expense and financial instruments. Goodwill and indefinite-lived assets G oodwill and indefinite-lived assets are not amortized, but are evaluated for impairment annually or when indicators of a potential impairment are present. Our impairment testing of goodwill is performed separately from our impairment testing of indefinite-lived intangibles. The annual evaluation for impairment of goodwill and indefinite-lived intangibles is based on valuation models that incorporate assumptions and internal projections of expected future cash flows and operating plans. On the date of the Merger, the Company recorded the fair value of shares given to Atrinsic stockholders as Goodwill, and subsequent to the merger the Company determined that goodwill was impaired and wrote it down to zero. Atrinsic’s assets and liabilities acquired in the Merger had nominal value. The allocation of the consideration transferred is as follows: Allocated to: Atrinsic 25,867 shares Common stock $ 32,334 Atrinsic Series A preferred stock as converted to Series B preferred stock, 297,468 shares 371,835 Total value of shares issued to Atrinsic on Merger date 404,169 Goodwill 404,169 Net value of consideration $ 0 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. Cash equivalents consisting of money market funds are carried at cost which approximate fair value due to its short-term nature. The assets or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The following table provides a summary of financial instruments that are measured at fair value as of June 30, 2016. Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Derivative warrant liabilities $ 515,819 $ — $ — $ 515,819 $ 515,819 The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2016: Fair Value Measurement Using Level 3 Inputs Total Balance, December 31, 2015 $ — Issuance of derivative warrants liabilities 487,425 Change in fair value of derivative warrant liabilities 28,394 Balance, June 30, 2016 $ 515,819 The fair value of the derivative feature of the 127,346 and 295,945 warrants to the placement agent of the private offering and to Strategic Bio Partners for debt cancellation, respectively on the issuance dates and at the balance sheet date were calculated using a Black-Scholes option model valued with the following weighted average assumptions: February 12 , 201 6 June 30 , 201 6 Risk free interest rate 1.20 % 1.01 % Dividend yield 0.00 % 0.00 % Expected volatility 156 % 129 % Contractual term (years) 5.0 4.5 Risk-free interest rate: The Company uses the risk-free interest rate of a U.S. Treasury Note with a similar term on the date of the grant. Dividend yield: The Company uses a 0% expected dividend yield as the Company has not paid dividends to date and does not anticipate declaring dividends in the near future. Volatility: The Company calculates the expected volatility of the stock price based on the corresponding volatility of the Company’s peer group stock price for a period consistent with the warrants’ expected term. Remaining term: The Company’s remaining term is based on the remaining contractual maturity of the warrants. During the six months ended June 30, 2016, the Company marked the derivative feature of the warrants to fair value and recorded a loss of $28,394 relating to the change in fair value. Impairment The Company estimates the expected undiscounted future cash flows and operating plans and compares such amounts to the carrying amount of the goodwill to determine if the carrying amount is recoverable. If the carrying amount exceeds the estimated undiscounted future cash flows, the Company will adjust the carrying amount of the goodwill to the fair value. The factors used to determine fair value are subject to management’s judgement and expertise and include, but are not limited to, recent sales prices of comparable companies, the present value of future cash flows, anticipated capital expenditures and various discount rates commensurate with the risk and current market conditions associated with realizing the expected cash flows projected. These assumptions represent Level 3 inputs. Goodwill impairment for the six months ended June 30, 2016 was $404,169. Derivative Liability The Company evaluates its options, warrants or other contracts, if any, to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with paragraph 815-10-05-4 and Section 815-40-25 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market each balance sheet date and recorded as either an asset or a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the consolidated statement of operations as other income or expense. Upon conversion, exercise or cancellation of a derivative instrument, the instrument is marked to fair value at the date of conversion, exercise or cancellation and then the related fair value is reclassified to equity. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Equity instruments that are initially classified as equity that become subject to reclassification are reclassified to liability at the fair value of the instrument on the reclassification date. Derivative instrument liabilities will be classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument is expected within 12 months of the balance sheet date. The Company utilizes a Black-Scholes option pricing model to compute the fair value of the derivative and to mark to market the fair value of the derivative at each balance sheet date. The Company determined the fair value of the binomial lattice model and the Black-Scholes valuation model to be materially the same. The Company records the change in the fair value of the derivative as other income or expense in the consolidated statements of operations. Revenue Recognition The Company has not begun planned principal operations and has not generated any revenue since inception. Stock-Based Compensation Expenses The Company accounts for stock based compensation costs under the provisions of ASC No. 718, Compensation—Stock Compensation, which requires the measurement and recognition of compensation expense related to the fair value of stock based compensation awards that are ultimately expected to vest. Stock based compensation expense recognized includes the compensation cost for all stock based payments granted to employees, officers, directors, and consultants based on the grant date fair value estimated in accordance with the provisions of ASC No. 718. ASC No. 718 is also applied to awards modified, repurchased, or canceled during the periods reported. Stock-Based Compensation for Non-Employees The Company accounts for warrants and options issued to non-employees under ASC 505-50, Equity – Equity Based Payments to Non-Employees, 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. For the six months ended June 30, 2016 and 2015, there were 6,418,887 and 4,801,112, respectively, potentially dilutive options and warrants not included in the calculation of weighted average shares of common stock outstanding since they would be anti-dilutive. For the six months ended June 30, 2016 and 2015, there were 11,018,766 and 0, respectively, potentially dilutive convertible preferred shares not included in the calculation of weighted average shares of common stock outstanding since they would be anti- dilutive. Potentially Outstanding Dilutive Common Shares For the Six Months Ended June 30, 2016 For the Six Months Ended June 30, 2015 Conversion Feature Shares Common shares issuable under the conversion feature of preferred shares 11,018,766 0 Stock Option Shares 2,592,229 1,647,745 Warrant Shares 3,826,658 3,153,367 Total potentially outstanding dilutive common shares 17,437,653 4,801,112 Recent accounting pronouncements In November 2015, the FASB issued ASU No 2015-17, Income Taxes (Topic 740). The amendments in ASU 2015-17 change the requirements for the classification of deferred taxes on the balance sheet. Currently, GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify the presentation of deferred income taxes, the amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The pronouncement is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2016. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. 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 FASB issued ASU No. 2016-02, Leases. The main provisions of ASU No. 2016-02 require management to recognize lease assets and lease liabilities for all leases. ASU 2016-02 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. 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 and A

Note 4 - Accounts Payable and Accrued Expenses	6 Months Ended
	Jun. 30, 2016
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 at: June 30, 2016 December 31, 2015 Legal $ 10,723 $ 186,936 Salaries 2,070 41,166 Patent expense 31,315 29,239 Research and development 14,600 8,128 Payroll taxes and employee benefits - 6,222 Other 7,970 7,564 Accounting and tax expenses 20,600 - $ 87,278 $ 279,255

Note 5 - Bridge Loan Payable -

Note 5 - Bridge Loan Payable - Stockholder	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 5 – BRIDGE LOAN PAYABLE – STOCKHOLDER During January 1, 2015 through February 12, 2016, the Company had entered into a series of bridge loan arrangements for total borrowings received and interest accrued of $422,752 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 $7,905 and $0 for the six months ended June 30, 2016 and 2015, respectively and $2,511 and $0 for the three months ended June 30, 2016 and 2015, respectively. On February 12, 2016, the Company converted $350,000 in principal and accrued interest on the note into shares of Series B Preferred Stock in the Private Offering at a price of $1.25 per share. On June 17, 2016, the Company converted the remaining $75,265 in principal and accrued interest on the note into shares of Common Stock at a price of $1.25 per share.

Note 6 - Derivative Liabilities

Note 6 - Derivative Liabilities	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Derivative Instruments and Hedging Activities Disclosure [Text Block]	NOTE 6 - DERIVATIVE LIABILITIES Upon closing of the private placement transactions on February 12, 2016, the Company issued 127,346 and 295,945 warrants, to the placement agent of the private offering and to Strategic Bio Partners for debt cancellation, respectively, to purchase the Company’s Series B Preferred Stock with an exercise price of $1.25 and a five-year term. The warrants have a cashless exercise feature that requires the Company to classify the warrants as a derivative liability.

Note 7 - Stockholders' Equity (

Note 7 - Stockholders' Equity (Deficit)	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	NOTE 7 - STOCKHOLDERS’ EQUITY (DEFICIT) On June 17, 2016, Atrinsic, Inc. (the “Company”) held a Special Meeting of Stockholders (the “Special Meeting”). At the Special Meeting, the Company’s stockholders approved a third amendment and restatement (the “Third Amendment and Restatement”) to the Company’s Amended and Restated Certificate of Incorporation, effective July 27, 2016 (the “Effective Time”), to effect a one-for-15,463.7183 reverse split of the Company’s common stock (the “Reverse Stock Split”). Pursuant to the Reverse Stock Split, at the Effective Time, each 15,463.7183 shares of common stock owned by a stockholder were combined into one new share of common stock, with any fractional shares that would otherwise be issuable as a result of the Reverse Stock Split being rounded up to the nearest whole share. The Third Amendment and Restatement also effected (i) a reduction in the Company’s authorized shares of common stock from 100 billion shares to 100 million shares, (ii) an increase in the par value of the Company’s common stock from $0.000001 per share to $0.0001 per share and (iii) a reduction in the Company’s authorized shares of preferred stock from 5 billion shares to 20 million shares. Stock-Based Compensation In connection with the Merger, all of the issued and outstanding options to purchase shares of Protagenic common stock converted, on a 1 for 1 basis, into options (the “ New Options 2006 Plan The Plan is authorized to issue up to 2,000,000 stock options. 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. There were 2,592,229 options outstanding as of June 30, 2016. The fair value of each stock option granted was estimated using the Black-Scholes assumptions and or factors as follows: Expected dividend yield 0% Risk free interest rate 1.01% - 2.43% Expected life in years 5 Expected volatility 85% - 129% The following is an analysis of the stock option grant activity under the Plan: Number Exercise Price Weighted Average Exercise Price Stock Options Outstanding January 1, 2016 1,707,744 $ 0.84 Granted 1,301,084 $ 1.25 Expired (416,599 ) Outstanding June 30, 2016 2,592,229 $ 1.04 On February 12, 2016, the Company issued 100,000 options (on a post-Reverse Split basis) under the 2006 Plan to its Chief Financial Officer as a sign-on bonus. These options have an exercise price of $1.25 per share, a ten-year term and vest over a three-year period in 35 monthly installments of 0.18 shares and a final installment of 2,778 shares. The terms of the option grant also include full vesting acceleration upon a change of control. The Company recognized compensation expense related to this issuance $10,220 and $5,192 for the six and three months ended June 30, 2016 and March 31, 2016, respectively. On April 15, 2016 the Board determined at the Compensation Committee meeting of the Board of Directors that each board member will be compensated an option grant of 40,000 options per year, plus 5,000 options for serving as the Chair of a committee. Options shall have 10-year expiration dates, 24-month vesting cycles, and a strike price of $1.25 per share, or more in future time periods to match the fair market value of the company’s common stock. The aggregate amount granted was 175,000 options. On April 15, 2016 the Board granted 1,008,299 options to employees and consultants. Options shall have 10-year expiration dates, 12 to 48 month vesting cycles, and a strike price of $1.25 per share, or more in future time periods to match the fair market value of the company’s common stock. During the quarter 17,785 options were granted to former Atrinsic executives, Options shall have 3-year expiration dates, and a strike price of $1.25 per share, or more in future time periods to match the fair market value of the company’s common stock. The total number of options granted and vested during the six month period ended June 30, 2016 was 1,301,084 and 133,229, respectively. The exercise price for theses 1,301,084 options was $1.25 per share. The Company recognized compensation expense related to options issued of $176,892 during the six month period ended June 30, 2016. On June 17, 2016, the company adopted a new option plan, the 2016 equity compensation plan. This plan replaces and supersedes the 2006 equity compensation plan. Details of this plan can be found with the Company’s Form 8-K filed June 20, 2016. Warrants: In connection with the Merger, all of the issued and outstanding warrants to purchase shares of Protagenic common stock, converted, on a 1 for 1 basis, into new warrants (the “ New Warrants Simultaneous with the Merger and the Private Offering, New Warrants to purchase 3,403,367 shares of Series B Preferred Stock at an average exercise price of approximately $1.05 per share were issued to holders of Protagenic warrants; additionally, holders of $665,000 of our debt and $35,000 of accrued interest exchanged such debt for five-year warrants to purchase 295,945 shares of Series B Preferred Stock at $1.25 per share. Placement Agent Warrants to purchase 127,346 shares of Series B Preferred Stock at an exercise price of $1.25 per share were issued in connection with the Private offering. These warrants to purchase 423,291 shares of Series B Preferred Stock have been recorded as derivative liabilities. See Note 6. A summary of warrant issuances are as follows: Number Exercise Price Weighted Average Exercise Price Warrants Outstanding January 1, 2016 3,403,367 $ 1.05 Granted 423,291 $ 1.25 Outstanding June 30, 2016 3,826,658 $ 1.07

Note 8 - Collaborative Agreemen

Note 8 - Collaborative Agreements	6 Months Ended
	Jun. 30, 2016
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 30, 2015. In September 2015, the New Research Agreement was extended to June 30, 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. Prior to January 1, 2016 the University has been granted 25,000 stock options which are fully vested at the exercise price of $1.00 exercisable over 10 year periods which ends on April 1, 2022. As of June 30, 2016 the Professor has been granted 275,000 stock options, of which 125,000 are fully vested, at the exercise prices of $1.00 exercisable over 10 or 13 year periods which ends either on March 30, 2021 or on March 1, 2027. The sponsorship research and development expenses were $3,000 and $7,056 pertaining to the Research Agreements for the three months ended June 30, 2016 and 2015, respectively.

Note 9 - Licensing Agreements

Note 9 - Licensing Agreements	6 Months Ended
	Jun. 30, 2016
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 six months ended June 30, 2016 and 2015 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 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	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 10 - COMMITMENTS AND CONTINGENCIES Consulting Agreement The Company had an employment agreement with its 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. As the agreement above expired, the Company issued a consulting agreement in its place that extended the majority of the terms of the employment agreement on a month-to-month basis. As a consultant, he is responsible for financial reporting, data compilation, and document retrieval services to the Chief Financial Officer, and to endeavor to secure non-dilutive grant funding for the Company. Prior to January 1, 2016, the Consultant had been granted 250,000 stock options, which are fully vested, at exercise prices of $0.26, $1.00, and $1.25 exercisable over 10 year periods which ends either August 1, 2016 or March 9, 2025. The consultant will be paid $2,000 per month for the remainder of the year ended 2016 and includes eligibility for bonus payments both contingent and not contingent on obtaining non-dilutive grant financing for the Company. 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. breach of the confidentiality obligations) and or (b) at any time without cause upon not less than fifteen (15) days’ prior written notice to the other party. Upon expiration or termination, neither the Company nor Consultant will have any further obligations under the consulting agreement. The Company has accrued $14,600 to pay the Consultant for research and development projects during the six months ended June 30, 2016 and paid $0 during the three and six months ended June 30, 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. The agreement has been extended through December 31, 2016 and updated accordingly. Prior to January 1, 2016, the Consultant had been granted 150,000 stock options which are fully vested at exercise prices of $1.00 and $1.25 exercisable over 10 year periods which ends either on March 30, 2021 or on March 1, 2025. The Consultant is paid approximately CA$3,000 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. breach of the confidentiality obligations) and or (b) at any time without cause upon not less than fifteen (15) days’ prior written notice to the other party. Upon expiration or termination, neither the Company nor Consultant will have any further obligations under the consulting agreement. The Company has accrued $11,283 to pay the Consultant for research and development projects during the three months ended June 30, 2016 and paid $1,619 during the three months ended June 30, 2015. 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	6 Months Ended
	Jun. 30, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 11 - SUBSEQUENT EVENTS

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and the rules and regulations of the SEC for interim financial information. In the opinion of the Company’s management, the accompanying condensed consolidated financial statements reflect all adjustments, consisting of normal, recurring adjustments, considered necessary for a fair presentation of the results for the interim periods ended June 30, 2016 and 2015. As this is an interim period financial statement, certain adjustments are not necessary as with a financial period of a full year. Although management believes that the disclosures in these unaudited condensed consolidated financial statements are adequate to make the information presented not misleading, certain information and footnote disclosures normally included in financial statements that have been prepared in accordance U.S. GAAP have been condensed or omitted pursuant to the rules and regulations of the SEC. The condensed consolidated financial statements include the accounts of Atrinsic, Inc., and its wholly owned subsidiary, Protagenic Acquisition Corp, and Protagenic Therapeutics, Inc., which was merged with and into Protagenic Acquisition Corp, on February 12, 2016, as well as Protagenic Therapeutics’ wholly-owned Canadian subsidiary, PTI Canada. All significant intercompany balances and transactions have been eliminated in consolidation. The accompanying unaudited interim condensed consolidated financial statements should be read in conjunction with the Company’s financial statements for the year ended December 31, 2015, which contains the audited financial statements and notes thereto, for the years ended December 31, 2015 and 2014 included within the Company’s Form 8-K/A filed with the SEC on July 12, 2016. The interim results for the three months ended and six months ended June 30, 2016 are not necessarily indicative of the results to be expected for the year ended December 31, 2016 or for any future interim periods.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from those estimates. Significant estimates underlying the consolidated financial statements include the allocation of the fair value of acquired assets and liabilities associated with the Merger, assessment of intangible assets, including goodwill and income tax provisions and allowances. The Company also relies on estimates for the valuation of stock-based compensation expense and financial instruments.
Goodwill and Intangible Assets, Policy [Policy Text Block]	Goodwill and indefinite-lived assets G oodwill and indefinite-lived assets are not amortized, but are evaluated for impairment annually or when indicators of a potential impairment are present. Our impairment testing of goodwill is performed separately from our impairment testing of indefinite-lived intangibles. The annual evaluation for impairment of goodwill and indefinite-lived intangibles is based on valuation models that incorporate assumptions and internal projections of expected future cash flows and operating plans. On the date of the Merger, the Company recorded the fair value of shares given to Atrinsic stockholders as Goodwill, and subsequent to the merger the Company determined that goodwill was impaired and wrote it down to zero. Atrinsic’s assets and liabilities acquired in the Merger had nominal value. The allocation of the consideration transferred is as follows: Allocated to: Atrinsic 25,867 shares Common stock $ 32,334 Atrinsic Series A preferred stock as converted to Series B preferred stock, 297,468 shares 371,835 Total value of shares issued to Atrinsic on Merger date 404,169 Goodwill 404,169 Net value of consideration $ 0
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. Cash equivalents consisting of money market funds are carried at cost which approximate fair value due to its short-term nature. The assets or liability’s fair value measurement within the fair value hierarchy is based upon the lowest level of any input that is significant to the fair value measurement. The following table provides a summary of financial instruments that are measured at fair value as of June 30, 2016. Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Derivative warrant liabilities $ 515,819 $ — $ — $ 515,819 $ 515,819 The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended June 30, 2016: Fair Value Measurement Using Level 3 Inputs Total Balance, December 31, 2015 $ — Issuance of derivative warrants liabilities 487,425 Change in fair value of derivative warrant liabilities 28,394 Balance, June 30, 2016 $ 515,819 The fair value of the derivative feature of the 127,346 and 295,945 warrants to the placement agent of the private offering and to Strategic Bio Partners for debt cancellation, respectively on the issuance dates and at the balance sheet date were calculated using a Black-Scholes option model valued with the following weighted average assumptions: February 12 , 201 6 June 30 , 201 6 Risk free interest rate 1.20 % 1.01 % Dividend yield 0.00 % 0.00 % Expected volatility 156 % 129 % Contractual term (years) 5.0 4.5 Risk-free interest rate: The Company uses the risk-free interest rate of a U.S. Treasury Note with a similar term on the date of the grant. Dividend yield: The Company uses a 0% expected dividend yield as the Company has not paid dividends to date and does not anticipate declaring dividends in the near future. Volatility: The Company calculates the expected volatility of the stock price based on the corresponding volatility of the Company’s peer group stock price for a period consistent with the warrants’ expected term. Remaining term: The Company’s remaining term is based on the remaining contractual maturity of the warrants. During the six months ended June 30, 2016, the Company marked the derivative feature of the warrants to fair value and recorded a loss of $28,394 relating to the change in fair value.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Impairment The Company estimates the expected undiscounted future cash flows and operating plans and compares such amounts to the carrying amount of the goodwill to determine if the carrying amount is recoverable. If the carrying amount exceeds the estimated undiscounted future cash flows, the Company will adjust the carrying amount of the goodwill to the fair value. The factors used to determine fair value are subject to management’s judgement and expertise and include, but are not limited to, recent sales prices of comparable companies, the present value of future cash flows, anticipated capital expenditures and various discount rates commensurate with the risk and current market conditions associated with realizing the expected cash flows projected. These assumptions represent Level 3 inputs. Goodwill impairment for the six months ended June 30, 2016 was $404,169.
Derivatives, Policy [Policy Text Block]	Derivative Liability The Company evaluates its options, warrants or other contracts, if any, to determine if those contracts or embedded components of those contracts qualify as derivatives to be separately accounted for in accordance with paragraph 815-10-05-4 and Section 815-40-25 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification. The result of this accounting treatment is that the fair value of the embedded derivative is marked-to-market each balance sheet date and recorded as either an asset or a liability. In the event that the fair value is recorded as a liability, the change in fair value is recorded in the consolidated statement of operations as other income or expense. Upon conversion, exercise or cancellation of a derivative instrument, the instrument is marked to fair value at the date of conversion, exercise or cancellation and then the related fair value is reclassified to equity. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is re-assessed at the end of each reporting period. Equity instruments that are initially classified as equity that become subject to reclassification are reclassified to liability at the fair value of the instrument on the reclassification date. Derivative instrument liabilities will be classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument is expected within 12 months of the balance sheet date. The Company utilizes a Black-Scholes option pricing model to compute the fair value of the derivative and to mark to market the fair value of the derivative at each balance sheet date. The Company determined the fair value of the binomial lattice model and the Black-Scholes valuation model to be materially the same. The Company records the change in the fair value of the derivative as other income or expense in the consolidated statements of operations.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition The Company has not begun planned principal operations and has not generated any revenue since inception.
Compensation Related Costs, Policy [Policy Text Block]	Stock-Based Compensation Expenses The Company accounts for stock based compensation costs under the provisions of ASC No. 718, Compensation—Stock Compensation, which requires the measurement and recognition of compensation expense related to the fair value of stock based compensation awards that are ultimately expected to vest. Stock based compensation expense recognized includes the compensation cost for all stock based payments granted to employees, officers, directors, and consultants based on the grant date fair value estimated in accordance with the provisions of ASC No. 718. ASC No. 718 is also applied to awards modified, repurchased, or canceled during the periods reported. Stock-Based Compensation for Non-Employees The Company accounts for warrants and options issued to non-employees under ASC 505-50, Equity – Equity Based Payments to Non-Employees,
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. For the six months ended June 30, 2016 and 2015, there were 6,418,887 and 4,801,112, respectively, potentially dilutive options and warrants not included in the calculation of weighted average shares of common stock outstanding since they would be anti-dilutive. For the six months ended June 30, 2016 and 2015, there were 11,018,766 and 0, respectively, potentially dilutive convertible preferred shares not included in the calculation of weighted average shares of common stock outstanding since they would be anti- dilutive. Potentially Outstanding Dilutive Common Shares For the Six Months Ended June 30, 2016 For the Six Months Ended June 30, 2015 Conversion Feature Shares Common shares issuable under the conversion feature of preferred shares 11,018,766 0 Stock Option Shares 2,592.229 1,647,745 Warrant Shares 3,826,658 3,153,367 Total potentially outstanding dilutive common shares 17,437,653 4,801,112
New Accounting Pronouncements, Policy [Policy Text Block]	Recent accounting pronouncements In November 2015, the FASB issued ASU No 2015-17, Income Taxes (Topic 740). The amendments in ASU 2015-17 change the requirements for the classification of deferred taxes on the balance sheet. Currently, GAAP requires an entity to separate deferred income tax liabilities and assets into current and noncurrent amounts in a classified statement of financial position. To simplify the presentation of deferred income taxes, the amendments in this ASU require that deferred tax liabilities and assets be classified as noncurrent in a classified statement of financial position. The pronouncement is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2016. Earlier application is permitted for all entities as of the beginning of an interim or annual reporting period. The Company has not yet selected a transition method nor has it determined the effect of the standard on its ongoing financial reporting. 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 FASB issued ASU No. 2016-02, Leases. The main provisions of ASU No. 2016-02 require management to recognize lease assets and lease liabilities for all leases. ASU 2016-02 retains a distinction between finance leases and operating leases. The classification criteria for distinguishing between finance leases and operating leases are substantially similar to the classification criteria for distinguishing between capital leases and operating leases in the previous leases guidance. The result of retaining a distinction between finance leases and operating leases is that under the lessee accounting model, the effect of leases in the statement of comprehensive income and the statement of cash flows is largely unchanged from previous GAAP. The amendments in this ASU are effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. 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 3 - Summary of Significa19

Note 3 - Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	Allocated to: Atrinsic 25,867 shares Common stock $ 32,334 Atrinsic Series A preferred stock as converted to Series B preferred stock, 297,468 shares 371,835 Total value of shares issued to Atrinsic on Merger date 404,169 Goodwill 404,169 Net value of consideration $ 0
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Carrying Fair Value Measurement Using Value Level 1 Level 2 Level 3 Total Derivative warrant liabilities $ 515,819 $ — $ — $ 515,819 $ 515,819
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Fair Value Measurement Using Level 3 Inputs Total Balance, December 31, 2015 $ — Issuance of derivative warrants liabilities 487,425 Change in fair value of derivative warrant liabilities 28,394 Balance, June 30, 2016 $ 515,819
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]	February 12 , 201 6 June 30 , 201 6 Risk free interest rate 1.20 % 1.01 % Dividend yield 0.00 % 0.00 % Expected volatility 156 % 129 % Contractual term (years) 5.0 4.5
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Potentially Outstanding Dilutive Common Shares For the Six Months Ended June 30, 2016 For the Six Months Ended June 30, 2015 Conversion Feature Shares Common shares issuable under the conversion feature of preferred shares 11,018,766 0 Stock Option Shares 2,592,229 1,647,745 Warrant Shares 3,826,658 3,153,367 Total potentially outstanding dilutive common shares 17,437,653 4,801,112

Note 4 - Accounts Payable and20

Note 4 - Accounts Payable and Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	June 30, 2016 December 31, 2015 Legal $ 10,723 $ 186,936 Salaries 2,070 41,166 Patent expense 31,315 29,239 Research and development 14,600 8,128 Payroll taxes and employee benefits - 6,222 Other 7,970 7,564 Accounting and tax expenses 20,600 - $ 87,278 $ 279,255

Note 7 - Stockholders' Equity21

Note 7 - Stockholders' Equity (Deficit) (Tables)	6 Months Ended
	Jun. 30, 2016
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Expected dividend yield 0% Risk free interest rate 1.01% - 2.43% Expected life in years 5 Expected volatility 85% - 129%
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	Number Exercise Price Weighted Average Exercise Price Stock Options Outstanding January 1, 2016 1,707,744 $ 0.84 Granted 1,301,084 $ 1.25 Expired (416,599 ) Outstanding June 30, 2016 2,592,229 $ 1.04
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number Exercise Price Weighted Average Exercise Price Warrants Outstanding January 1, 2016 3,403,367 $ 1.05 Granted 423,291 $ 1.25 Outstanding June 30, 2016 3,826,658 $ 1.07

Note 1 - Organization and Nat22

Note 1 - Organization and Nature of Business (Details Textual)	Jul. 27, 2016$ / sharesshares	Jun. 27, 2016$ / sharesshares	Apr. 15, 2016USD ($)$ / sharesshares	Mar. 02, 2016USD ($)shares	Feb. 13, 2016	Feb. 12, 2016USD ($)$ / sharesshares	Apr. 15, 2016USD ($)$ / sharesshares	Jun. 30, 2016$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares	Jun. 30, 2015USD ($)	Jun. 26, 2016$ / sharesshares	Dec. 31, 2015$ / sharesshares
Protagenic Therapeutics Inc [Member] | Series B Preferred Stock [Member] | New Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						1,807,744
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares						$ 0.87
Protagenic Therapeutics Inc [Member] | Series B Preferred Stock [Member] | Predecessor Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						17,784
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares						$ 1.25
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						295,945
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 1.25
Protagenic Therapeutics Inc [Member] | Series B Preferred Stock [Member] | New Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						3,403,367
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 1.03
Protagenic Therapeutics Inc [Member] | Series B Preferred Stock [Member]
Common Shares Exchanged for Preferred Shares						(6,612,838)
Preferred Stock, Par or Stated Value Per Share | $ / shares						$ 0.000001
Protagenic Therapeutics Inc [Member] | Placement Agent Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						127,346
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 1.25
Protagenic Therapeutics Inc [Member] | Predecessor Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						295,945
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 1.25
Protagenic Therapeutics Inc [Member] | Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						3,403,367
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 1.05
Protagenic Therapeutics Inc [Member]
Business Acquisition, Conversion of Stock, Ratio						1
Business Combination, Stock Warrant Conversion Ratio						1
Stock Issued During Period, Shares, Conversion of Series A Preferred Stock to Series B Preferred Stock						297,468
Series B Preferred Stock [Member] | Placement Agent Warrants [Member] | Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			127,346				127,346
Class of Warrant or Right, Value of Securities Called by Warrants or Rights | $			$ 146,641				$ 146,641
Series B Preferred Stock [Member] | Predecessor Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						295,945
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 1.25
Warrants Issued for Settlement and Conversion of Debt | $						$ 340,784
Series B Preferred Stock [Member] | Private Placement [Member] | Including Conversion of Principal and Interest [Member]
Proceeds from Issuance of Private Placement | $							5,135,575
Proceeds From Issuance of Private Placement, Net of Issuance Costs | $							$ 4,783,438
Series B Preferred Stock [Member] | Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						423,291
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 1.25
Shares Issued, Price Per Share | $ / shares						$ 1.25
Stock Issued During Period, Value, New Issues | $						$ 3,468,750
Stock Issued During Period, Shares, New Issues			420,260	913,200			4,108,460
Proceeds from Issuance of Convertible Preferred Stock | $			$ 525,325	$ 1,141,500
Proceeds from Issuance of Private Placement | $							$ 4,635,575
Proceeds From Issuance of Private Placement, Net of Issuance Costs | $							$ 4,283,438
Series B Preferred Stock [Member] | Reverse Stock Split [Member] | Subsequent Event [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	15,463.7183
Series B Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share | $ / shares								$ 0.000001	$ 0.000001			$ 0.000001
Proceeds from Issuance of Convertible Preferred Stock | $									$ 4,283,437
Preferred Stock, Shares Authorized								18,000,000	18,000,000			18,000,000
Placement Agent Warrants [Member] | Private Placement [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares			$ 1.25				$ 1.25
Common Stock [Member]
Stock Issued During Period, Shares, Reverse Stock Split, Post-split						25,867
Stock Issued During Period, Value, New Issues | $
Stock Issued During Period, Value, Conversion of Convertible Securities | $									$ 6
Stock Issued During Period, Shares, New Issues
Debt Principal Conversion to Predecessor Warrants [Member]
Debt Conversion, Original Debt, Amount | $						$ 665,000
Debt Interest Conversion to Predecessor Warrants [Member]
Debt Conversion, Original Debt, Amount | $						35,000
Conversion of Outstanding Stockholder Debt [Member] | Predecessor's Stockholder [Member]
Stock Issued During Period, Value, Conversion of Convertible Securities | $						150,000
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
Momspot LLC [Member]
Noncontrolling Interest, Ownership Percentage by Parent						51.00%
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners						49.00%
Interest Ownership Split Off					51.00%
Investors in the Private Offering [Member]
Number of Common Stock Held As Converted Basis						2,775,000
Private Placement [Member] | Commissions [Member]
Payments of Stock Issuance Costs | $			$ 159,183
Private Placement [Member] | Expense Allowance [Member]
Payments of Stock Issuance Costs | $			15,000
Private Placement [Member] | Legal and Miscellaneous Fees [Member]
Payments of Stock Issuance Costs | $			$ 266,727
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio		15,463.7183
Subsequent Event [Member] | Stock Conversion from Series B Preferred Stock to Common Stock [Member]
Convertible Preferred Stock, Shares Issued upon Conversion	1
Conversion of Stock, Shares Converted	11,018,766
Conversion of Stock, Shares Issued	11,018,766
Subsequent Event [Member]
Preferred Stock, Par or Stated Value Per Share | $ / shares	$ 0.000001
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.0001
Stock Shares Authorized	120,000,000
Common Stock, Shares Authorized	100,000,000
Preferred Stock, Shares Authorized	20,000,000
Stock Conversion from Series B Preferred Stock to Common Stock [Member]
Convertible Preferred Stock, Shares Issued upon Conversion		1
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross									1,301,084
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares								$ 1.25	$ 1.25
Common Stock, Par or Stated Value Per Share | $ / shares		$ 0.0001				$ 0.0001		$ 0.0001	$ 0.0001		$ 0.000001	$ 0.0001
Number of Wholly-Owned Subsidiaries Split Off					29
Stock Issued During Period, Value, New Issues | $									$ 4,761,797
Stock Issued During Period, Value, Conversion of Convertible Securities | $									75,265
Warrants Issued for Settlement and Conversion of Debt | $									$ 340,784
Common Stock, Shares Authorized		100,000,000						100,000,000	100,000,000		100,000,000,000	100,000,000
Preferred Stock, Shares Authorized		20,000,000									5,000,000,000

Note 2 - Liquidity (Details Tex

Note 2 - Liquidity (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Net Income (Loss) Attributable to Parent	$ (524,488)	$ (109,119)	$ (1,264,273)	$ (146,910)
Retained Earnings (Accumulated Deficit)	(7,570,570)		(7,570,570)		$ (6,306,297)
Net Working Capital	$ 3,185,092		$ 3,185,092

Note 3 - Summary of Significa24

Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($)	Feb. 12, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Private Placement [Member] | Series B Preferred Stock [Member] | Placement Agent Warrants [Member]
Class of Warrant or Right, Issued	127,346
Private Placement [Member] | Series B Preferred Stock [Member] | Strategic Bio Partners [Member] | Debt Settlement [Member]
Class of Warrant or Right, Issued	295,945
Options and Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				6,418,887	4,801,112
Convertible Preferred Shares [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				11,018,766	0
Goodwill, Fair Value Disclosure	$ 0
Fair Value Assumptions, Expected Dividend Rate		0.00%
Derivative, Gain (Loss) on Derivative, Net		$ (26,887)		$ (28,394)
Goodwill, Impairment Loss				$ 404,169
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount				17,437,653	4,801,112

Note 3 - Allocation of Consider

Note 3 - Allocation of Consideration Transferred (Details) - Protagenic Therapeutics Inc [Member]	Feb. 12, 2016USD ($)
Common Stock [Member]
Atrinsic 25,867 shares Common stock	$ 32,334
Preferred Stock [Member] | Series B Preferred Stock [Member]
Atrinsic 25,867 shares Common stock	371,835
Total value of shares issued to Atrinsic on Merger date	404,169
Goodwill	404,169
Net value of consideration	$ 0

Note 3 - Allocation of Consid26

Note 3 - Allocation of Consideration Transferred (Details) (Parentheticals) - Protagenic Therapeutics Inc [Member]	Feb. 12, 2016shares
Common Stock [Member]
Stock Issued During Period, Shares, Reverse Stock Split, Post-split	25,867
Preferred Stock [Member] | Series B Preferred Stock [Member]
Stock Issued During Period, Shares, Conversion of Series A Preferred Stock to Series B Preferred Stock	297,468
Stock Issued During Period, Shares, Conversion of Series A Preferred Stock to Series B Preferred Stock	297,468

Note 3 - Assets Measured at Fai

Note 3 - Assets Measured at Fair Value (Details) - Fair Value, Measurements, Recurring [Member]	Jun. 30, 2016USD ($)
Reported Value Measurement [Member]
Derivative warrant liabilities	$ 515,819
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member]
Derivative warrant liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member]
Derivative warrant liabilities
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member]
Derivative warrant liabilities	515,819
Estimate of Fair Value Measurement [Member]
Derivative warrant liabilities	$ 515,819

Note 3 - Changes in Fair Value

Note 3 - Changes in Fair Value for Assets and Liabilities Measured on a Recurring Basis (Details) - Derivative Financial Instruments, Liabilities [Member]	6 Months Ended
	Jun. 30, 2016USD ($)
Balance, December 31, 2015
Issuance of derivative warrants liabilities	487,425
Change in fair value of derivative warrant liabilities	28,394
Balance, June 30, 2016	$ 515,819

Note 3 - Weighted Average Assum

Note 3 - Weighted Average Assumptions (Details)	Feb. 12, 2016	Jun. 30, 2016
Derivative Financial Instruments, Liabilities [Member]
Risk free interest rate	1.20%	1.01%
Fair Value Assumptions, Expected Dividend Rate	0.00%	0.00%
Expected volatility	156.00%	129.00%
Contractual term (years)	5 years	4 years 182 days
Fair Value Assumptions, Expected Dividend Rate		0.00%

Note 3 - Antidilutive Securitie

Note 3 - Antidilutive Securities Excluded From Computation of Earnings Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Convertible Preferred Shares [Member]
Common shares issuable under the conversion feature of preferred shares (in shares)	11,018,766	0
Employee Stock Option [Member]
Common shares issuable under the conversion feature of preferred shares (in shares)	2,592,229	1,647,745
Warrant [Member]
Common shares issuable under the conversion feature of preferred shares (in shares)	3,826,658	3,153,367
Common shares issuable under the conversion feature of preferred shares (in shares)	17,437,653	4,801,112

Note 4 - Summary of Accounts Pa

Note 4 - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Legal	$ 10,723	$ 186,936
Salaries	2,070	41,166
Patent expense	31,315	29,239
Research and development	14,600	8,128
Payroll taxes and employee benefits		6,222
Other	7,970	7,564
Accounting and tax expenses	20,600
	$ 87,278	$ 279,255

Note 5 - Bridge Loan Payable 32

Note 5 - Bridge Loan Payable - Stockholder (Details Textual) - USD ($)	Jun. 17, 2016	Feb. 12, 2016	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Chairman and Stockholder [Member] | Bridge Loan [Member]
Debt Instrument, Convertible, Conversion Price	$ 1.25	$ 1.25
Debt Instrument, Interest Rate, Stated Percentage		10.00%
Interest Expense			$ 2,511	$ 0	$ 7,905	$ 0
Stock Issued During Period, Value, Conversion of Convertible Securities, Net of Adjustments	$ 75,265	$ 350,000
Chairman and Stockholder [Member]
Bridge Loan		$ 422,752
Bridge Loan [Member]
Debt Instrument, Convertible, Conversion Price		$ 1.25
Bridge Loan							$ 399,103
Interest Expense			$ 1,767		$ 7,161

Note 6 - Derivative Liabiliti33

Note 6 - Derivative Liabilities (Details Textual) - Private Placement [Member] - $ / shares	Feb. 12, 2016	Apr. 15, 2016
Series B Preferred Stock [Member] | Placement Agent Warrants [Member]
Class of Warrant or Right, Issued During Period	127,346
Series B Preferred Stock [Member] | Strategic Bio Partners [Member] | Debt Settlement [Member]
Class of Warrant or Right, Issued During Period	295,945
Series B Preferred Stock [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 1.25
Class of Warrant or Right, Expiration Period	5 years
Placement Agent Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 1.25

Note 7 - Stockholders' Equity34

Note 7 - Stockholders' Equity (Deficit) (Details Textual)	Jun. 27, 2016$ / sharesshares	Apr. 15, 2016$ / sharesshares	Feb. 12, 2016USD ($)$ / sharesshares	Jun. 30, 2016USD ($)$ / sharesshares	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)$ / sharesshares	Jun. 26, 2016$ / sharesshares	Dec. 31, 2015$ / sharesshares
Reverse Stock Split [Member]
Stockholders' Equity Note, Stock Split, Conversion Ratio	15,463.7183
The 2006 Plan [Member] | Employee Stock Option [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				1 year
The 2006 Plan [Member] | Employee Stock Option [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period				5 years
The 2006 Plan [Member] | Employee Stock Option [Member] | Chief Financial Officer [Member]
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			10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting, Number of Monthly Installments			35
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting, Monthly Installment, Shares			0.18
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting, Final Monthly Installment, Shares			2,778
Allocated Share-based Compensation Expense | $					$ 5,192	$ 10,220
The 2006 Plan [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized				2,000,000		2,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period				10 years
The 2006 Plan [Member] | Chief Financial Officer [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			100,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares			$ 1.25
The 2006 Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number				2,592,229		2,592,229
Employee Stock Option [Member] | Minimum [Member] | Employees and Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Employee Stock Option [Member] | Maximum [Member] | Employees and Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		1 year
Employee Stock Option [Member] | Each Member of Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		2 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period		10 years
Employee Stock Option [Member] | Employees and Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period		4 years
Employee Stock Option [Member] | Former Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period				3 years
Employee Stock Option [Member]
Allocated Share-based Compensation Expense | $				$ 176,892
Each Member of Board of Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		40,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares		$ 1.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Additional		5,000
Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		175,000
Employees and Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		1,008,299
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares		$ 1.25
Former Executives [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross				17,785
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares				$ 1.25
Protagenic Therapeutics Inc [Member] | Private Placement [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			3,403,367
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares			$ 1.05
Protagenic Therapeutics Inc [Member] | Predecessor Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			295,945
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares			$ 1.25
Protagenic Therapeutics Inc [Member] | Placement Agent Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			127,346
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares			$ 1.25
Protagenic Therapeutics Inc [Member]
Business Combination, Stock Warrant Conversion Ratio			1
Debt Instrument, Face Amount | $			$ 665,000
Debt Instrument, Increase, Accrued Interest | $			$ 35,000
Class of Warrant or Right, Expiration Period			5 years
Private Placement [Member] | Placement Agent Warrants [Member] | Series B Preferred Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		127,346
Private Placement [Member] | Placement Agent Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 1.25
Private Placement [Member] | Series B Preferred Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			423,291
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares			$ 1.25
Class of Warrant or Right, Expiration Period			5 years
Predecessor Warrants [Member] | Series B Preferred Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			295,945
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares			$ 1.25
Series B Preferred Stock [Member]
Preferred Stock, Shares Authorized				18,000,000		18,000,000		18,000,000
Stock Conversion from Series B Preferred Stock to Common Stock [Member]
Convertible Preferred Stock, Shares Issued upon Conversion	1
Common Stock, Shares Authorized	100,000,000			100,000,000		100,000,000	100,000,000,000	100,000,000
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.0001		$ 0.0001	$ 0.0001		$ 0.0001	$ 0.000001	$ 0.0001
Preferred Stock, Shares Authorized	20,000,000						5,000,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number				2,592,229		2,592,229		1,707,744
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross						1,301,084
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares				$ 1.25		$ 1.25
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares						133,229

Note 7 - Fair Value Assumption

Note 7 - Fair Value Assumption (Details)	3 Months Ended
	Jun. 30, 2016
Minimum [Member]
Risk free interest rate	1.01%
Expected volatility	85.00%
Maximum [Member]
Risk free interest rate	2.43%
Expected volatility	129.00%
Expected dividend yield	0.00%
Expected life in years	5 years

Note 7 - Stock Option Grant Act

Note 7 - Stock Option Grant Activity (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Outstanding January 1, 2016 (in shares)		1,707,744
Outstanding January 1, 2016 (in dollars per share)		$ 0.84
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		1,301,084
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 1.25	$ 1.25
Expired (in shares)		(416,599)
Outstanding June 30, 2016 (in shares)	2,592,229	2,592,229
Outstanding June 30, 2016 (in dollars per share)	$ 1.04	$ 1.04

Note 7 - Summary of Warrants (D

Note 7 - Summary of Warrants (Details)	6 Months Ended
	Jun. 30, 2016$ / sharesshares
Outstanding January 1, 2016 (in shares) | shares	3,403,367
Outstanding January 1, 2016 (in dollars per share) | $ / shares	$ 1.05
Granted (in shares) | shares	423,291
Granted (in dollars per share) | $ / shares	$ 1.25
Outstanding June 30, 2016 (in shares) | shares	3,826,658
Outstanding June 30, 2016 (in dollars per share) | $ / shares	$ 1.07

Note 8 - Collaborative Agreem38

Note 8 - Collaborative Agreements (Details Textual) - USD ($)	3 Months Ended		6 Months Ended		133 Months Ended	139 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Jun. 30, 2016
University of Toronto [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price					$ 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					25,000
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			$ 1
Professor [Member] | Minimum [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period						10 years
Professor [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures						275,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares	125,000		125,000			125,000
In Process Research and Development [Member]
Research and Development Expense	$ 3,000	$ 7,056
Research and Development Expense	$ 374,206	$ 39,975	$ 422,721	$ 61,424

Note 9 - Licensing Agreements (

Note 9 - Licensing Agreements (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Licensing Agreements [Member]
Royalty Payment, Percentage	2.50%		2.50%
Up-front Sub-license Fees, Percentage	10.00%		10.00%
Interest on Amounts Owed Under License Agreement, Rate	3.00%		3.00%
Revenues			$ 0	$ 0

Note 10 - Commitments and Con40

Note 10 - Commitments and Contingencies (Details Textual)	3 Months Ended		12 Months Ended
	Jun. 30, 2016CAD	Jun. 30, 2016USD ($)	Dec. 31, 2015USD ($)$ / sharesshares	Jun. 30, 2015USD ($)
Officer [Member] | Employment Agreement [Member] | Range One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares			$ 0.26
Officer [Member] | Employment Agreement [Member] | Range Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares			1
Officer [Member] | Employment Agreement [Member] | Range Three [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares			$ 1.25
Officer [Member] | Employment Agreement [Member] | Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Officer [Member] | Employment Agreement [Member]
Monthly Salary Agreement Amount			$ 6,489
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | shares			75,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Value			$ 64,223
Allocated Share-based Compensation Expense			$ 53,519
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | shares			250,000
Compensation of Rendered Service		$ 2,000
Accrued Salaries		14,600		$ 0
Stockholder [Member] | Consulting Agreement [Member] | Range One [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares			$ 1
Stockholder [Member] | Consulting Agreement [Member] | Range Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ / shares			$ 1.25
Stockholder [Member] | Consulting Agreement [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | shares			150,000
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period			10 years
Compensation of Rendered Service | CAD	CAD 3,000
Accrued Salaries		11,283		$ 1,619
Employee Stock Option [Member]
Allocated Share-based Compensation Expense		$ 176,892

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual) - shares	Jul. 27, 2016	Jun. 30, 2016	Jun. 27, 2016	Dec. 31, 2015
Stock Conversion from Series B Preferred Stock to Common Stock [Member] | Subsequent Event [Member]
Convertible Preferred Stock, Shares Issued upon Conversion	1
Conversion of Stock, Shares Converted	11,018,766
Stock Issued During Period, Shares, Conversion of Convertible Securities	10,437,318
Stock Conversion from Series B Preferred Stock to Common Stock [Member]
Convertible Preferred Stock, Shares Issued upon Conversion			1
Stock Not Converted from Series B Preferred Stock [Member] | Subsequent Event [Member]
Preferred Stock, Shares Outstanding	671,649
Subsequent Event [Member]
Common Stock, Shares, Outstanding	10,433,396
Common Stock, Shares, Outstanding		86,078		6,612,838