Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2016 | Aug. 11, 2016 | |
Document Information [Line Items] | ||
Entity Registrant Name | OMNICOMM SYSTEMS INC | |
Entity Central Index Key | 1,034,592 | |
Trading Symbol | omcm | |
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) | 147,686,917 | |
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 |
Conversion Feature Liability Related Parties [Member] | ||
CURRENT LIABILITIES | ||
Derivative liabilities, current | $ 1,763,485 | $ 535,835 |
Conversion Feature Liability [Member] | ||
CURRENT LIABILITIES | ||
Derivative liabilities, current | 549,843 | 365,408 |
Warrant Liability Related Parties [Member] | ||
CURRENT LIABILITIES | ||
Derivative liabilities, current | 2,601,315 | 1,353,786 |
Warrant Liability [Member] | ||
CURRENT LIABILITIES | ||
Derivative liabilities, current | 1,211,375 | 561,137 |
Series B Preferred Stock [Member] | ||
SHAREHOLDERS' (DEFICIT) | ||
Preferred stock | 0 | 0 |
Series C Preferred Stock [Member] | ||
SHAREHOLDERS' (DEFICIT) | ||
Preferred stock | 0 | 0 |
Series A Preferred Stock [Member] | ||
SHAREHOLDERS' (DEFICIT) | ||
Preferred stock | 0 | 3,637 |
TOTAL SHAREHOLDERS' (DEFICIT) | 0 | 3,637 |
Series D Preferred Stock [Member] | ||
SHAREHOLDERS' (DEFICIT) | ||
Preferred stock | 250 | 250 |
TOTAL SHAREHOLDERS' (DEFICIT) | 250 | 250 |
Cash | 857,101 | 835,219 |
Accounts receivable, net of allowance for doubtful accounts of $125,593 and $116,834, respectively | 4,327,935 | 4,092,472 |
Prepaid expenses | 181,687 | 170,173 |
Prepaid stock compensation, current portion | 179,950 | 175,858 |
Other current assets | 9,648 | 14,351 |
Total current assets | 5,556,321 | 5,288,073 |
Property and equipment, net | 703,799 | 683,712 |
Net Book Value | 130,884 | 148,877 |
Prepaid stock compensation | 117,526 | 150,085 |
Other assets | 53,354 | 46,565 |
TOTAL ASSETS | 6,561,884 | 6,317,312 |
Accounts payable and accrued expenses | 1,657,931 | 1,957,270 |
Deferred revenue, current portion | 6,498,382 | 7,054,614 |
Convertible notes payable, current portion, net of discount of $-0- and $-0-, respectively | 75,000 | 75,000 |
Patent settlement liability, current portion | 862,500 | 962,500 |
Total current liabilities | 15,219,831 | 12,865,550 |
Line of credit, long term | 5,000,000 | 4,200,000 |
Notes payable, related parties, long term, net of current portion, net of discount of $290,478 and $-0-, respectively | 179,522 | 20,000 |
Notes payable, long term, net of current portion, net of discount of $525,329 and $-0-, respectively | 267,171 | 792,500 |
Deferred revenue, long term, net of current portion | 2,504,740 | 2,193,163 |
Convertible notes payable, related parties, long term, net of current portion | 5,850,000 | 5,850,000 |
Convertible notes payable, long term, net of current portion | 1,350,000 | 1,350,000 |
Patent settlement liability, long term, net of current portion | 291,895 | 464,573 |
TOTAL LIABILITIES | 30,663,159 | 27,735,786 |
COMMITMENTS AND CONTINGENCIES (See Note 10) | ||
Preferred stock | 0 | 0 |
Common stock, 500,000,000 shares authorized, 147,683,879 and 131,703,577 issued and outstanding, respectively, at $0.001 par value | 147,685 | 131,704 |
Additional paid in capital - preferred | 131,703,577 | 131,703,577 |
Additional paid in capital - common | 53,400,305 | 49,974,415 |
Accumulated other comprehensive (loss) | (384,142) | (366,355) |
Accumulated (deficit) | (78,265,123) | (75,392,917) |
TOTAL SHAREHOLDERS' (DEFICIT) | (24,101,275) | (21,418,474) |
TOTAL LIABILITIES AND SHAREHOLDERS' (DEFICIT) | $ 6,561,884 | $ 6,317,312 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Convertible Notes Payable [Member] | ||
Notes payable discount | $ 0 | $ 0 |
Related Party Long Term [Member] | ||
Notes payable discount | 290,478 | 0 |
Notes Payable, Other Payables [Member] | ||
Notes payable discount | $ 525,329 | $ 0 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 230,000 | 230,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Preferred stock, liquidation preference | $ 0 | $ 0 |
Series C Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 747,500 | 747,500 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Preferred stock, liquidation preference | $ 0 | $ 0 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 3,637,724 |
Preferred stock, shares outstanding (in shares) | 0 | 3,637,724 |
Preferred stock, liquidation preference | $ 0 | $ 3,637,724 |
Series D Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 250,000 | 250,000 |
Preferred stock, shares issued (in shares) | 250,000 | 250,000 |
Preferred stock, shares outstanding (in shares) | 250,000 | 250,000 |
Allowance for doubtful accounts | $ 125,593 | $ 116,834 |
Notes payable discount | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 |
Preferred stock, shares undesignated | $ 3,772,500 | $ 3,772,500 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 147,683,879 | 131,703,577 |
Common stock, shares outstanding (in shares) | 147,683,879 | 131,703,577 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
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 | |
Revenues | $ 4,930,261 | $ 4,788,160 | $ 9,822,270 | $ 9,175,614 |
Reimbursable revenues | 373,227 | 46,739 | 638,729 | 497,412 |
Total revenues | 5,303,488 | 4,834,899 | 10,460,999 | 9,673,026 |
Cost of goods sold | 940,859 | 1,009,580 | 1,911,030 | 1,969,075 |
Reimbursable expenses-cost of goods sold | 435,437 | 40,368 | 639,293 | 432,470 |
Total cost of sales | 1,376,296 | 1,049,948 | 2,550,323 | 2,401,545 |
Gross margin | 3,927,192 | 3,784,951 | 7,910,676 | 7,271,481 |
Operating expenses | ||||
Salaries, benefits and related taxes | 2,710,513 | 2,764,113 | 5,443,425 | 5,542,217 |
Rent and occupancy expenses | 244,458 | 227,480 | 501,058 | 482,711 |
Consulting services | 24,000 | 81,311 | 48,000 | 176,740 |
Legal and professional fees | 80,459 | 98,592 | 203,296 | 218,128 |
Travel | 231,264 | 184,723 | 400,062 | 471,670 |
Telephone and internet | 43,183 | 52,576 | 83,667 | 83,955 |
Selling, general and administrative | 441,721 | 467,786 | 824,775 | 827,607 |
Bad debt expense | 33,455 | 14,972 | 33,307 | (5,402) |
Depreciation expense | 76,111 | 56,343 | 146,577 | 108,505 |
Amortization expense | 10,164 | 10,057 | 20,253 | 20,237 |
Total operating expenses | 3,895,328 | 3,957,953 | 7,704,420 | 7,926,368 |
Operating income/(loss) | 31,864 | (173,002) | 206,256 | (654,887) |
Other income/(expense) | ||||
Interest expense, related parties | (235,084) | (672,649) | (443,686) | (1,299,785) |
Interest expense | (87,470) | (73,161) | (175,373) | (145,897) |
Interest income | 1 | 0 | 2 | 0 |
Change in derivative liabilities | (1,696,825) | 5,590,517 | (2,458,836) | 4,072,798 |
Transaction gain/(loss) | (7,732) | 7,248 | (510) | (48,076) |
Income/(loss) before income taxes | (1,995,246) | 4,678,953 | (2,872,147) | 1,924,153 |
Income tax (expense) | 0 | 0 | (59) | (385) |
Net income/(loss) | (1,995,246) | 4,678,953 | (2,872,206) | 1,923,768 |
Preferred stock dividends | ||||
Total preferred stock dividends | 0 | (51,424) | (1,870) | (102,283) |
Net income/(loss) attributable to common stockholders | $ (1,995,246) | $ 4,627,529 | $ (2,874,076) | $ 1,821,485 |
Net income/(loss) per share | ||||
Basic (in dollars per share) | $ (0.01) | $ 0.05 | $ (0.02) | $ 0.02 |
Diluted (in dollars per share) | $ (0.01) | $ 0.03 | $ (0.02) | $ 0.01 |
Weighted average number of shares outstanding | ||||
Basic (in shares) | 146,978,378 | 92,350,506 | 144,029,335 | 91,999,079 |
Diluted (in shares) | 146,978,378 | 120,664,362 | 144,029,335 | 103,712,786 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive Income/(Loss) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Net income/(loss) attributable to common stockholders | $ (1,995,246) | $ 4,627,529 | $ (2,874,076) | $ 1,821,485 |
Other comprehensive income/(loss) | ||||
Foreign currency translation adjustment | (14,631) | 21,926 | (17,787) | (83,531) |
Other comprehensive income/(loss) | (14,631) | 21,926 | (17,787) | (83,531) |
Comprehensive income/(loss) | $ (2,009,877) | $ 4,649,455 | $ (2,891,863) | $ 1,737,954 |
Condensed Consolidated Stateme6
Condensed Consolidated Statement of Shareholders' (Deficit) (Unaudited) - USD ($) | Series A Preferred Stock [Member] | Series D Preferred Stock [Member] | Additional Paid In Capital Preferred [Member] | Common Stock [Member] | Additional Paid In Capital Common [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2014 | 4,125,224 | 250,000 | 91,561,802 | |||||
Balance at Dec. 31, 2014 | $ 4,125 | $ 250 | $ 4,717,804 | $ 91,562 | $ 37,634,555 | $ (77,979,301) | $ (243,827) | $ (35,774,832) |
Employee stock option expense | 43,090 | 43,090 | ||||||
Foreign currency translation adjustment | (122,528) | (122,528) | ||||||
Restricted stock issuance/forfeiture (in shares) | 908,330 | |||||||
Restricted stock issuance/forfeiture | $ 908 | 226,875 | $ 227,783 | |||||
Issuance of common stock, stock option exercise (in shares) | 252,500 | 292,500 | ||||||
Issuance of common stock, stock option exercise | $ 253 | 26,997 | $ 27,250 | |||||
Cashless issuance of common stock, stock option exercise (in shares) | 7,428 | |||||||
Cashless issuance of common stock, stock option exercise | $ 7 | (7) | 0 | |||||
Issuance of common stock, in exchange for Series A Preferred Stock (in shares) | (487,500) | 1,950,000 | ||||||
Issuance of common stock, in exchange for Series A Preferred Stock | $ (488) | (487,012) | $ 1,950 | 485,550 | 0 | |||
Issuance of common stock in exchange for converted and cancelled debt and cancelled warrants (in shares) | 37,023,517 | |||||||
Issuance of common stock in exchange for converted and cancelled debt and cancelled warrants | $ 37,024 | 11,557,355 | 11,594,379 | |||||
Net income/(loss) for the year ended December 31, 2015 | $ 0 | $ 0 | 0 | $ 0 | 0 | 2,586,384 | 0 | 2,586,384 |
Balance (in shares) at Dec. 31, 2015 | 3,637,724 | 250,000 | 131,703,577 | |||||
Balance at Dec. 31, 2015 | $ 3,637 | $ 250 | 4,230,792 | $ 131,704 | 49,974,415 | (75,392,917) | (366,355) | (21,418,474) |
Employee stock option expense | 13,792 | 13,792 | ||||||
Foreign currency translation adjustment | (17,787) | (17,787) | ||||||
Restricted stock issuance/forfeiture (in shares) | 360,000 | |||||||
Restricted stock issuance/forfeiture | $ 360 | 68,040 | $ 68,400 | |||||
Issuance of common stock, stock option exercise (in shares) | 1,000,000 | 1,012,500 | ||||||
Issuance of common stock, stock option exercise | $ 1,000 | 124,000 | $ 125,000 | |||||
Cashless issuance of common stock, stock option exercise (in shares) | 4,606 | |||||||
Cashless issuance of common stock, stock option exercise | $ 5 | (5) | $ 0 | |||||
Issuance of common stock, in exchange for Series A Preferred Stock (in shares) | (3,637,724) | 14,615,696 | 16,500,896 | |||||
Issuance of common stock, in exchange for Series A Preferred Stock | $ (3,637) | (3,231,042) | $ 14,616 | 3,220,063 | $ 0 | |||
Net income/(loss) for the year ended December 31, 2015 | $ 0 | $ 0 | 0 | $ 0 | 0 | (2,872,206) | 0 | (2,872,206) |
Balance (in shares) at Jun. 30, 2016 | 0 | 250,000 | 147,683,879 | |||||
Balance at Jun. 30, 2016 | $ 0 | $ 250 | $ 999,750 | $ 147,685 | $ 53,400,305 | $ (78,265,123) | $ (384,142) | $ (24,101,275) |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 18 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Jun. 30, 2016 | |
Notes Payable Issued For Existing Notes Payable [Member] | ||||||
Non-cash transactions: | ||||||
Notes payable issued in exchange for existing notes payable | $ 7,652,500 | $ 14,874,000 | ||||
Promasys B.V. [Member] | ||||||
Non-cash transactions: | ||||||
Promissory notes issued for accrued interest | 450,000 | 670,000 | ||||
Restricted Stock [Member] | ||||||
Non-cash transactions: | ||||||
Restricted stock issuance/forfeiture | 68,400 | 247,950 | ||||
Net income/(loss) | $ (1,995,246) | $ 4,678,953 | (2,872,206) | 1,923,768 | $ 2,586,384 | |
Change in derivative liabilities | 1,696,825 | (5,590,517) | 2,458,836 | (4,072,798) | ||
Interest expense from derivative instruments | 35,209 | 330,266 | ||||
Employee stock compensation | 110,659 | 116,920 | ||||
Provision for doubtful accounts | 33,455 | 14,972 | 33,307 | (5,402) | 14,939 | |
Depreciation and amortization | 166,830 | 128,742 | ||||
Accounts receivable | (268,770) | 418,215 | ||||
Prepaid expenses | (11,514) | 63,497 | ||||
Other current assets | 4,703 | 5,658 | ||||
Other assets | (6,789) | 1,222 | ||||
Accounts payable and accrued expenses | 150,661 | 900,005 | ||||
Patent settlement liability | (272,678) | (160,177) | ||||
Deferred revenue | (244,655) | 329,986 | ||||
Net cash provided by/(used in) operating activities | (716,407) | (20,098) | ||||
Purchase of property and equipment | (164,449) | (298,489) | ||||
Net cash (used in) investing activities | (164,449) | (298,489) | ||||
Repayments of notes payable | 0 | (25,000) | ||||
Proceeds from revolving line of credit | 800,000 | 1,000,000 | ||||
Proceeds from Stock Options Exercised | 125,000 | 27,250 | $ 27,250 | |||
Net cash provided by/(used in) financing activities | 925,000 | 1,002,250 | ||||
Effect of exchange rate changes on fixed and intangible assets | (4,475) | 63,042 | ||||
Effect of exchange rate changes on cash and cash equivalents | (17,787) | (83,531) | ||||
Net increase/(decrease) in cash and cash equivalents | 21,882 | 663,174 | ||||
Cash and cash equivalents at beginning of period | 835,219 | 522,914 | 522,914 | 522,914 | ||
Cash and cash equivalents at end of period | $ 857,101 | $ 1,186,088 | 857,101 | 1,186,088 | $ 835,219 | $ 857,101 |
Income taxes | 59 | 385 | ||||
Interest | 774,746 | 528,823 | ||||
Common stock issued in exchange for 5% Series A Preferred Stock | $ 3,637,724 | $ 0 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Operations | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 1: ORGANIZATION AND NATURE OF OPERATIONS OmniComm Systems, Inc. (“OmniComm” or the “Company”) is a healthcare technology company that provides web-based electronic data capture (“EDC”) solutions and related value-added services to pharmaceutical and biotech companies, contract research organizations (“CROs”), and other clinical trial sponsors principally located in the United States and Europe as well as in East Asia. Our proprietary EDC software applications; TrialMaster ® , TrialOne ® , eClinical Suite, and Promasys ® Our ability to compete within the EDC industry is predicated on our ability to continue enhancing and broadening the scope of solutions offered through our EDC Software and services. Our research and product development efforts are focused on developing new and complementary software solutions, as well as enhancing our existing software solutions through the addition of increased functionality. During the six month periods ended June 30, 2016 and June 30, 2015 we spent approximately $1,315,525 and $1,355,783, respectively, on research and product development activities, which are primarily comprised of salaries to our developers and other research and product development personnel and related costs associated with the development of our software products. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BASIS OF PRESENTATION AND PRINCIPLES OF CONSOLIDATION The Company’s accounts include those of all its wholly-owned subsidiaries, which are more fully described in the Company’s 2015 Annual Report filed on Form 10-K with the Securities and Exchange Commission, and have been prepared in conformity with (i) accounting principles generally accepted in the United States of America; and (ii) the rules and regulations of the United States Securities and Exchange Commission. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated in consolidation. UNAUDITED FINANCIAL STATEMENTS The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission. Pursuant to such rules and regulations, certain financial information and footnote disclosures normally included in the consolidated financial statements have been condensed or omitted. The results for the periods indicated are unaudited, but reflect all adjustments (consisting only of normally recurring adjustments) which management considers necessary for a fair presentation of operating results. The operating results for the six month period ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year-ended December 31, 2016. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year-ended December 31, 2015. ESTIMATES IN FINANCIAL STATEMENTS The preparation of the unaudited condensed consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Significant estimates incorporated in our financial statements include the recorded allowance for doubtful accounts, the estimate of the appropriate amortization period of our intangible assets, the evaluation of whether our intangible assets have suffered any impairment, the allocation of revenues under multiple-element customer contracts, royalty-based patent liabilities, the value of derivatives associated with debt issued by the Company and the valuation of any corresponding discount to the issuance of our debt. Actual results may differ from those estimates. Reclassifications Certain reclassifications have been made in the 2015 financial statements to conform to the 2016 presentation. These reclassifications did not have any effect on our net income/(loss) or shareholders’ deficit. foreign currency translation The financial statements of the Company’s foreign subsidiaries are translated in accordance with Accounting Standards Codification (“ASC”) 830-30, Foreign Currency Matters—Translation of Financial Statements REVENUE RECOGNITION POLICY The Company derives revenues from software licenses and services of its EDC products and services which can be purchased on a stand-alone basis. License revenues are derived principally from the sale of term licenses for the following software products offered by the Company: TrialMaster, TrialOne , eClinical Suite Promasys. TrialMaster eClinical Suite The Company recognizes revenues when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the collection of fees is probable; and (4) the amount of fees to be paid by the customer is fixed or determinable. The Company operates in one reportable segment which is the delivery of EDC Software and services to clinical trial sponsors. The Company segregates its revenues based on the activity cycle used to generate its revenues. Accordingly, revenues are currently generated through four main activities , including hosted applications, licensing, professional services and maintenance-related services. Hosted Application Revenues The Company offers its TrialMaster eClinical Suite TrialOne Promasys TrialMaster eClinical Suite Revenues resulting from TrialMaster eClinical Suite Fees charged for the trial system design, set up and implementation are amortized and recognized ratably over the estimated hosting period. Work performed outside the original scope of work is contracted for separately as an additional fee and is generally recognized ratably over the remaining term of the hosting period. Fees for the first and third stages of the service are typically billed based upon milestones. Revenues earned upon completion of a contractual milestone are deferred and recognized over the estimated remaining hosting period. Fees for application hosting and related services in the second stage are generally billed monthly or quarterly in advance. Revenues resulting from hosting services for the eClinical Suite Licensing Revenues The Company's software license revenues are earned from the sale of off-the-shelf software. From time-to-time a client might require significant modification or customization subsequent to delivery to the customer. The Company generally enters into software term licenses for its EDC Software products with its customers for three to five year periods, although customers have entered into both longer and shorter term license agreements. These arrangements typically include multiple elements: software license, consulting services and customer support. The Company bills its customers in accordance with the terms of the underlying contract. Generally, the Company bills license fees in advance for each billing cycle of the license term, which typically is either on a quarterly or annual basis. Payment terms are generally net 30 days. The Company has sold perpetual licenses for EDC Software products in certain situations to existing customers with the option to purchase customer support, and may, in the future, do so for new customers based on customer requirements or market conditions. The Company has established vendor specific objective evidence of fair value for the customer support. Accordingly, license revenues are recognized upon delivery of the software and when all other revenue recognition criteria are met. Customer support revenues are recognized ratably over the term of the underlying support arrangement. The Company generates customer support and maintenance revenues from its perpetual license customer base. Professional Services The Company may also enter into arrangements to provide consulting services separate from a license arrangement. In these situations, revenue is recognized on a time-and-materials basis. Professional services can be deemed to be as essential to the functionality of the software at inception and typically are for initial trial configuration, implementation planning, loading of software, building simple interfaces, running test data and documentation of procedures. Subsequent additions or extensions to license terms do not generally include additional professional services. Pass-through Revenue and Expense The Company accounts for pass-through revenue and expense in accordance with ASC 605-45, Principal Agent Considerations Maintenance Revenues Maintenance includes telephone-based help desk support and software maintenance. The Company generally bundles customer support with the software license for the entire term of the arrangement. As a result, the Company generally recognizes revenues for both maintenance and software licenses ratably over the term of the software license and support arrangement. The Company allocates the revenues recognized for these arrangements to the different elements based on management's estimate of the relative fair value of each element. The Company generally invoices each of the elements based on separately quoted amounts and thus has a fairly accurate estimate of the relative fair values of each of the invoiced revenue elements. The fees associated with each business activity for the periods ended June 30, 2016 and June 30, 2015, respectively are: For the six months ended Revenue activity June 30, 2016 June 30, 2015 Set-up fees $ 3,312,733 $ 2,882,153 Change orders 669,899 354,808 Maintenance 2,337,965 2,501,407 Software licenses 2,202,288 1,527,374 Professional services 1,398,136 1,924,967 Hosting 539,978 482,317 Total $ 10,460,999 $ 9,673,026 For the three months ended Revenue activity June 30, 2016 June 30, 2015 Set-up fees $ 1,793,399 $ 1,617,609 Change orders 392,146 212,767 Maintenance 1,136,745 1,269,530 Software licenses 1,001,374 786,437 Professional services 745,816 707,970 Hosting 234,008 240,586 Total $ 5,303,488 $ 4,834,899 COST OF REVENUES Cost of revenues primarily consists of costs related to hosting, maintaining and supporting the Company’s application suite and delivering professional services and support. These costs include salaries, benefits, and bonuses for the Company’s professional services staff. Cost of revenues also includes outside service provider costs . CASH AND CASH EQUIVALENTS Cash equivalents consist of highly liquid, short-term investments with maturities of 90 days or less. The carrying amount reported in the accompanying consolidated balance sheets approximates fair value. ACCOUNTS RECEIVABLE Accounts receivable are judged as to collectability by management and an allowance for bad debts is established as necessary. The allowance is based on an evaluation of the collectability of accounts receivable and prior bad debt experience. The Company had recorded an allowance for uncollectible accounts receivable of $125,593 as of June 30, 2016 and $116,834 as of December 31, 2015, respectively. June 30, 2016 December 31, 2015 Beginning of period $ 116,834 $ 186,085 Bad debt expense 33,307 14,939 Write-offs (24,548 ) (84,190 ) End of period $ 125,593 $ 116,834 Concentration of Credit Risk Cash and cash equivalents and restricted cash are deposited with major financial institutions and, at times, such balances with any one financial institution may be in excess of FDIC-insured limits. As of June 30, 2016, $560,865 was deposited in excess of FDIC-insured limits. Management believes the risk in these situations to be minimal. Except as follows, the Company has no significant off-balance-sheet risk or credit risk concentrations. Financial instruments that subject the Company to potential credit risks are principally cash equivalents and accounts receivable. Concentrated credit risk with respect to accounts receivable is limited to creditworthy customers. The Company's customers are principally located in the United States and Europe as well as in East Asia. The Company is directly affected by the overall financial condition of the pharmaceutical, biotechnology and medical device industries and management believes that credit risk exists and that any credit risk the Company faces has been adequately reserved for as of June 30, 2016. The Company maintains an allowance for doubtful accounts based on accounts past due according to contractual terms and historical collection experience. Actual losses , when incurred , are charged to the allowance. The Company's losses related to collection of accounts receivable have consistently been within management's expectations. As of June 30, 2016, the Company believes no additional credit risk exists beyond the amounts provided for in our allowance for uncollectible accounts. The Company evaluates its allowance for uncollectable accounts on a quarterly basis based on a specific review of receivable aging and the period that any receivables are beyond the standard payment terms. The Company does not require collateral from its customers in order to mitigate credit risk. One customer accounted for 20% of our revenues during the six month period ended June 30, 2016 or approximately $2,102,000. One customer accounted for 13% of our revenues during the six month period ended June 30, 2015 or approximately $1,249,000. The following table summarizes the number of customers who individually comprise greater than 10% of total revenue and/or total accounts receivable and their aggregate percentage of the Company's total revenue and gross accounts receivable for the periods presented. Revenues Accounts receivable For the period ended Number of customers Percentage of total revenues Number of customers Percentage of a ccounts receivable June 30, 2016 1 20% 1 13% December 31, 2015 1 16% 3 42% June 30, 2015 1 13% 2 31% The table below provides revenues from European customers for the six month periods ended June 30, 2016 and June 30, 2015, respectively. European revenues For the six months ended June 30, 2016 June 30, 2015 European revenues % of Total revenues European revenues % of Total revenues $ 899,293 9% $ 1,084,178 11% The Company serves all of its hosting customers from third-party web hosting facilities located in the United States. The Company does not control the operation of these facilities, and they are vulnerable to damage or interruption. The Company maintains redundant systems that can be used to provide service in the event the third-party web hosting facilities become unavailable, although in such circumstances, the Company's service may be interrupted during the transition. PROPERTY AND EQUIPMENT Property and equipment are recorded at cost. Additions and betterments are capitalized; maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the asset’s estimated useful life, which is 5 years for leasehold improvements, computers, equipment and furniture and 3 years for software. Gains or losses on disposal are charged to operations. ASSET IMPAIRMENT Acquisitions and Intangible Assets We account for acquisitions in accordance with ASC 805, Business Combinations ASC 350, Intangibles- Goodwill and Other The judgments that we make in determining the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact net income in periods following an asset acquisition. We generally use either the income, cost or market approach to aid in our conclusions of such fair values and asset lives. The income approach presumes that the value of an asset can be estimated by the net economic benefit to be received over the life of the asset, discounted to present value. The cost approach presumes that an investor would pay no more for an asset than its replacement or reproduction cost. The market approach estimates value based on what other participants in the market have paid for reasonably similar assets. Although each valuation approach is considered in valuing the assets acquired, the approach ultimately selected is based on the characteristics of the asset and the availability of information. Long-lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Determining whether an impairment has occurred typically requires various estimates and assumptions, including determining which cash flows are directly related to the potentially impaired asset, the useful life over which cash flows will occur, their amount and the asset’s residual value, if any. In turn, measurement of an impairment loss requires a determination of fair value, which is based on the best information available. We use quoted market prices when available and independent appraisals and management estimates of future operating cash flows, as appropriate, to determine fair value. FAIR VALUE MEASUREMENT OmniComm’s capital structure includes the use of warrants and convertible debt features that are classified as derivative financial instruments. Derivative financial instruments are recognized as either assets or liabilities and are measured at fair value under ASC 815 , Derivatives and Hedging . , Fair Value Measurements and Disclosures DEFERRED REVENUE Deferred revenue represents cash advances and amounts in accounts receivable as of the balance sheet date received in excess of revenue earned on on-going contracts. Payment terms vary with each contract but may include an initial payment at the time the contract is executed, with future payments dependent upon the completion of certain contract phases or targeted milestones. In the event of contract cancellation, the Company is generally entitled to payment for all work performed through the point of cancellation. As of June 30, 2016, the Company had $9,003,122 in deferred revenues relating to contracts for services to be performed over periods ranging from one month to 5 years. The Company had $6,498,382 in deferred revenues that are expected to be recognized in the next twelve fiscal months. ADVERTISING Advertising costs are expensed as incurred. Advertising costs were approximately $432,837 and $406,502 for the six month periods ended June 30, 2016 and June 30, 2015, respectively and are included under selling, general and administrative expenses in our unaudited condensed consolidated financial statements. RESEARCH AND DEVELOPMENT EXPENSES Software development costs are expensed as incurred. ASC 985-20, Software Industry Costs of Software to Be Sold, Leased or Marketed EMPLOYEE EQUITY INCENTIVE PLANS The OmniComm Systems, Inc. 2016 Equity Incentive Plan (the “2016 Plan”) was approved at our Annual Meeting of Shareholders on June 16, 2016. The 2016 Plan provides for the issuance of up to 10,000,000 shares of our common stock. In addition, the number of shares of common stock available for issuance under the 2016 Plan shall automatically increase on January 1st of each year for a period of nine (9) years commencing on January 1, 2017 and ending on (and including) January 1, 2025, in an amount equal to five percent (5%) of the total number of shares authorized under the 2016 Plan . The predecessor plan, the OmniComm Systems, Inc. 2009 Equity Incentive Plan (the “2009 Plan”) was approved at our Annual Meeting of Shareholders on July 10, 2009 and terminated on June 16, 2016 upon the approval of the 2016 Plan. The 2009 Plan provided for the issuance of up to 7,500,000 shares to employees, directors and key consultants. The 2016 and 2009 Plans are more fully described in “Note 13, Employee Equity Incentive Plans”. The Company accounts for its employee equity incentive plans under Compensation – Stock Compensation EARNINGS PER SHARE The Company accounts for Earnings per Share using ASC 260, Earnings per Share, . Unlike diluted earnings per share basic earnings per share excludes any dilutive effects of options, warrants, and convertible securities. INCOME TAXES The Company accounts for income taxes in accordance with ASC 740, Income Taxes . Valuation allowances are established , when necessary , to reduce deferred tax assets to the estimated amount to be realized. Income tax expense represents the tax payable for the current period and the change during the period in the deferred tax assets and liabilities. IMPACT OF NEW ACCOUNTING STANDARDS During the first six months of 2016, we adopted the following new accounting pronouncements: In February 2016, the FASB issued accounting standard update (“ASU”) No. 2016-02, “Leases (Topic 842)” In March 2016, the FASB issued ASU No. 2016-09 , “Compensation – Stock Compensation (Topic 718)”, guidance which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This guidance is effective for annual periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the full impact of the new standard. Accounting standards-setting organizations frequently issue new or revised accounting rules. We regularly review all new pronouncements to determine their impact, if any, on our financial statements. |
Note 3 - Earnings (Loss) Per Sh
Note 3 - Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3: EARNINGS/ (LOSS) PER SHARE Basic earnings/(loss) per share were calculated using the weighted average number of shares outstanding of 144,029,335 and 91,999,079 for the six month periods ended June 30, 2016 and June 30, 2015, respectively. The outstanding share balance as of June 30, 2016 and June 30, 2015, respectively, includes 1,943,343 and 2,866,681 restricted shares that have been issued but are still at risk of forfeiture as the restrictions have not lapsed. Antidilutive shares of 44,902,516 and 71,302,468 have been omitted from the calculation of dilutive earnings/(loss) per share for the six month periods ended June 30, 2016 and June 30, 2015, respectively, as the shares were antidilutive. Provided below is the reconciliation between numerators and denominators of the basic and diluted earnings per shares. The table below provides a reconciliation of anti-dilutive securities outstanding as of June 30, 2016 and June 30, 2015, respectively. Anti-dilutive security June 30, 2016 June 30, 2015 Preferred stock -0- 2,750,149 Employee stock options 982,500 1,563,793 Warrants 27,860,000 52,263,517 Convertible notes 15,910,000 13,850,000 Shares issuable for accrued interest 150,016 875,009 Total 44,902,516 71,302,468 The employee stock options are exercisable at prices ranging from $0.045 to $0.30 per share. The exercise prices on the warrants range from $0.25 to $0.60 per share. Shares issuable upon conversion of Convertible Debentures or accrued interest have conversion prices ranging from $0.25 to $1.25 per share. Some of the Company’s convertible debt and convertible preferred stock have an anti-dilutive effect on net income/(loss) per share and were not included in the computation of diluted earnings per share. For the six months ended June 30, 2016 June 30, 2015 Income/(loss) numerator Shares denominator Per-share amount Income/(loss) numerator Shares denominator Per-share amount Basic EPS $ (2,874,076 ) 144,029,335 $ (0.02 ) $ 1,821,485 91,999,079 $ 0.02 Effect of dilutive securities -0- -0- -0- (387,828 ) 11,713,707 (0.03 ) Diluted EPS $ (2,874,076 ) 144,029,335 $ (0.02 ) $ 1,433,657 103,712,786 $ 0.01 For the three months ended June 30, 2016 June 30, 2015 Income/(loss) numerator Shares denominator Per-share amount Income/(loss) numerator Shares denominator Per-share amount Basic EPS $ (1,995,246 ) 146,978,378 $ (0.01 ) $ 4,627,529 92,350,506 $ 0.05 Effect of dilutive securities -0- -0- -0- (1,460,161 ) 28,313,856 (0.05 ) Diluted EPS $ (1,995,246 ) 146,978,378 $ (0.01 ) $ 3,167,368 120,664,362 $ 0.03 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment, Net | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4 : PROPERTY AND EQUIPMENT, NET Property and equipment consists of the following: June 30, 2016 December 31, 2015 Cost Accumulated depreciation Net book value Cost Accumulated depreciation Net book value Estimated useful life (years) Computer & office equipment $ 2,105,691 $ 1,683,685 $ 422,006 $ 2,055,956 $ 1,605,473 $ 450,483 5 Leasehold improvements 105,929 87,105 18,824 91,452 85,895 5,557 5 Computer software 1,884,873 1,671,897 212,976 1,843,483 1,621,492 221,991 3 Office furniture 159,292 109,299 49,993 111,660 105,979 5,681 5 Total $ 4,255,785 $ 3,551,986 $ 703,799 $ 4,102,551 $ 3,418,839 $ 683,712 Depreciation expense for the six month periods ended June 30, 2016 and June 30, 2015 was $146,577 and $108,505, respectively. |
Note 5 - Intangible Assets, Net
Note 5 - Intangible Assets, Net | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 5 : INTANGIBLE ASSETS, NET Intangible assets consist of the following: June 30, 2016 December 31, 2015 Asset Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value Estimated useful life (years) eClinical Suite customer lists $ 1,392,701 $ 1,392,701 $ -0- $ 1,392,701 $ 1,392,701 $ -0- 3 Promasys B.V. customer lists 110,314 19,611 90,703 108,051 15,607 92,444 15 Promasys B.V. software code 72,837 38,846 33,991 72,837 31,563 41,274 5 Promasys B.V. URLs/Website 55,714 49,524 6,190 54,572 39,413 15,159 3 Total $ 1,631,566 $ 1,500,682 $ 130,884 $ 1,628,161 $ 1,479,284 $ 148,877 Amortization expense was $20,253 and $20,237 for the six month periods ended June 30, 2016 and June 30, 2015, respectively. Remaining amortization expense for the Company’s intangible assets is as follows: 2016 $ 17,151 2017 21,922 2018 19,494 2019 7,354 2020 7,354 Thereafter 57,609 Total $ 130,884 |
Note 6 - Accounts Payable and A
Note 6 - Accounts Payable and Accrued Expenses | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 6 : ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consist of the following: Account June 30, 2016 December 31, 2015 Accounts payable $ 712,580 $ 515,764 Accrued payroll and related costs 583,534 473,108 Other accrued expenses 141,306 105,562 Accrued interest 220,511 862,836 Total accounts payable and accrued expenses $ 1,657,931 $ 1,957,270 |
Note 7 - Line of Credit, Notes
Note 7 - Line of Credit, Notes Payable and Liquidity | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 7 : LINE OF CREDIT , NOTES PAYABLE AND LIQUIDITY On March 18, 2013, the Company entered into a $2,000,000 revolving Line of Credit (“Line of Credit”) with The Northern Trust Company guaranteed by our Chief Executive Officer and Director , Cornelis F. Wit. Mr. Wit receives 2.0% interest (approximately $9,500 per month) from the Company on the assets pledged for the Line of Credit. On December 18, 2013 the Company renewed the Line of Credit and increased the available balance to $4,000,000. On February 3, 2015 the Company renewed the Line of Credit and increased the available balance to $5,000,000. The Line of Credit matures on February 2, 2018 and carries a variable interest rate based on the prime rate. At June 30, 2016, $5,000,000 was outstanding on the Line of Credit at an interest rate of 2.5%. Our primary sources of working capital are funds from operations and borrowings under our revolving Line of Credit. In the event that the Line of Credit is called for any reason, Mr. Wit has pledged to replace the borrowing capacity under the Line of Credit with a promissory note that utilizes the same maturity date and interest rate as the Line of Credit. To satisfy our capital requirements, we may seek additional financing. There can be no assurance that any such funding will be available to us on favorable terms or at all. If adequate funds are not available when needed, we may be required to delay, scale back or eliminate some or all of our research and product development and marketing programs. If we are successful in obtaining additional financings, the terms of such financings may have the effect of diluting or adversely affecting the holdings or the rights of the holders of our securities or result in increased interest expense in future periods. At June 30, 2016, the Company owed $1,262,500 in notes payable all of which are unsecured. The table below provides details as to the terms and conditions of the notes payable. Ending Non related party Related party Origination date Maturity Interest rate principal June 30, 2016 Current Long term Current Long term 4/1/2015 4/1/2018 12% $ 20,000 $ -0- $ -0- $ -0- $ 20,000 2/29/2016 4/1/2019 12% 450,000 -0- -0- -0- 450,000 6/30/2016 4/1/2020 10% 420,000 -0- 420,000 -0- -0- 6/30/2016 4/1/2020 12% 372,500 -0- 372,500 -0- -0- Discount on notes payable -0- (525,329 ) -0- (290,478 ) Total $ 1,262,500 $ -0- $ 267,171 $ -0- $ 179,522 At December 31, 2015, the Company owed $812,500 in notes payable all of which were unsecured. The table below provides details as to the terms and conditions of the notes payable. Ending Non related party Related party Origination date Maturity date Interest rate principal December 31, 2015 Current Long term Current Long term 4/4/2014 4/1/2017 12% $ 45,000 $ -0- $ 45,000 $ -0- $ -0- 4/4/2014 4/1/2017 12% 137,500 -0- 137,500 -0- -0- 4/4/2014 4/1/2017 10% 120,000 -0- 120,000 -0- -0- 12/1/2014 4/1/2017 10% 300,000 -0- 300,000 -0- -0- 12/1/2014 4/1/2017 12% 90,000 -0- 90,000 -0- -0- 12/1/2014 4/1/2017 12% 100,000 -0- 100,000 -0- -0- 4/1/2015 4/1/2018 12% 20,000 -0- -0- -0- 20,000 Discount on notes payable -0- -0- -0- -0- Total $ 812,500 $ -0- $ 792,500 $ -0- $ 20,000 On June 30, 2016, the Company issued promissory notes in the principal amount of $372 ,500 and warrants to purchase 1,490,000 shares of common stock of the Company at an exercise price of $0.25 per share with an expiration date of April 1, 2020 to two investors, in exchange for existing promissory notes in the same amount. The notes carry an interest rate of 12% per annum and have a maturity date of April 1, 2020. This issuance caused us to calculate and record a derivative liability for the warrant liability. The warrants were valued using the Black Scholes option pricing model. A value of $246,921 was calculated and allocated to the warrants and recorded as a liability to the issuance of the note payable. As a result of the liability we recorded a discount to the note payable. The carrying amount of the note at the time of issuance was therefore $125,579. The warrant liability (discount) will be amortized over the 45 month duration of the note payables. The Company will continue to perform a fair value calculation quarterly on the warrant liability and accordingly the warrant liability is increased or decreased based on the fair value calculation. The resulting increase or decrease is reflected in operations as an unrealized gain or loss on changes in derivative liabilities. On June 30, 2016, the Company issued promissory notes in the principal amount of $420 ,000 and warrants to purchase 1,680,000 shares of common stock of the Company at an exercise price of $0.25 per share with an expiration date of April 1, 2020 to two investors, in exchange for existing promissory notes in the same amount. The notes carry an interest rate of 1 0% per annum and have a maturity date of April 1, 2020. This issuance caused us to calculate and record a derivative liability for the warrant liability. The warrants were valued using the Black Scholes option pricing model. A value of $278,408 was calculated and allocated to the warrants and recorded as a liability to the issuance of the note payable. As a result of the liability we recorded a discount to the note payable. The carrying amount of the note at the time of issuance was therefore $141,592. The warrant liability (discount) will be amortized over the 45 month duration of the note payables. The Company will continue to perform a fair value calculation quarterly on the warrant liability and accordingly the warrant liability is increased or decreased based on the fair value calculation. The resulting increase or decrease is reflected in operations as an unrealized gain or loss on changes in derivative liabilities. On February 29, 2016, the Company issued a promissory note in the principal amount of $450,000 and warrants to purchase 1,800,000 shares of common stock of the Company at an exercise price of $0.25 per share with an expiration date of April 1, 2019 to our Chief Executive Officer and Director, Cornelis F. Wit (“Mr. Wit”), in exchange for accrued interest in the amount of $450,000. The note carries an interest rate of 12% per annum and has a maturity date of April 1, 2019. This issuance caused us to calculate and record a derivative liability for the warrant liability. The warrants were valued using the Black Scholes option pricing model. A value of $325,689 was calculated and allocated to the warrants and recorded as a liability to the issuance of the note payable. As a result of the liability we recorded a discount to the note payable. The carrying amount of the note at the time of issuance was therefore $124,311. The warrant liability (discount) will be amortized over the 37 month duration of the note payable. The Company will continue to perform a fair value calculation quarterly on the warrant liability and accordingly the warrant liability is increased or decreased based on the fair value calculation. The resulting increase or decrease is reflected in operations as an unrealized gain or loss on changes in derivative liabilities. On October 15, 2015 the Company issued a promissory note in the amount of $980,000 to Mr. Wit in exchange for an existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the promissory note and the related warrants were cancelled in exchange for 3,920,000 shares of our common stock. On October 15, 2015 the Company issued a promissory note in the amount of $1,600,000 to Mr. Wit in exchange for an existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the promissory note, 400,000 related warrants and 6,000,000 unrelated warrants were cancelled in exchange for 6,400,000 shares of our common stock. On November 23, 2015 Mr. Wit sold 4,000,000 of the related warrants to three employees of the Company. On December 17, 2015 Mr. Wit sold 2,000,000 of the related warrants to a fourth employee of the Company. On April 1, 2015 the Company issued a promissory note in the amount of $20,000 to our Chairman and Chief Technology Officer, Randall G. Smith (“Mr. Smith”) in exchange for an existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of April 1, 2018. On January 31, 2015 the Company issued a promissory note in the amount of $529,000 to Mr. Wit in exchange for an existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of April 1, 2017. The expiration date of the warrants associated with the promissory note was also extended to April 1, 2017. On October 15, 2015 the Company issued a promissory note in the amount of $529,000 to Mr. Wit in exchange for the existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the promissory note and the related warrants were cancelled in exchange for 2,116,000 shares of our common stock. On January 31, 2015 the Company issued a promissory note in the amount of $2,860,000 and paid $6,879 in principal to Mr. Wit in exchange for an existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of April 1, 2017. The expiration date of the warrants associated with the promissory note was also extended to April 1, 2017. On October 15, 2015 the Company issued a promissory note in the amount of $2,860,000 to Mr. Wit in exchange for the existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the Company and Mr. Wit agreed to cancel the promissory note and 11,440,000 warrants related to the promissory note in exchange for 11,440,000 shares of our common stock. On January 31, 2015, the Company issued a promissory note in the principal amount of $950,000 and warrants to purchase 3,800,000 shares of common stock of the Company at an exercise price of $0.25 per share with an expiration date of April 1, 2017 to Mr. Wit in exchange for an existing promissory note in the amount of $280,000 and accrued interest in the amount of $670,000. The note carries an interest rate of 12% per annum and is due on April 1, 2017. On October 15, 2015 the Company issued a promissory note in the amount of $950,000 to Mr. Wit in exchange for the existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the Company and Mr. Wit agreed to cancel the promissory note and the warrants related to the promissory note in exchange for 3,800,000 shares of our common stock. |
Note 8 - Convertible Notes Paya
Note 8 - Convertible Notes Payable | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Convertible Debt Disclosure [Text Block] | NOTE 8 : CONVERTIBLE NOTES PAYABLE The following table summarizes the convertible debt outstanding as of June 30, 2016 . Carrying amount Date of Maturity Interest Original Principal at Short term Long term issuance date rate principal June 30, 2016 Related Non related Related Non related 8/1/1999 6/30/2004 10% $ 862,500 $ 75,000 $ -0- $ 75,000 $ -0- $ -0- 8/29/2008 4/1/2018 10% 150,000 150,000 -0- -0- -0- 150,000 8/29/2008 4/1/2020 10% 2,120,000 1,770,000 -0- -0- 1,770,000 -0- 12/16/2008 4/1/2018 12% 375,000 375,000 -0- -0- -0- 375,000 12/16/2008 4/1/2018 12% 25,000 25,000 -0- -0- 25,000 -0- 12/16/2008 4/1/2020 12% 100,000 100,000 -0- -0- -0- 100,000 12/16/2008 4/1/2020 12% 4,570,000 4,055,000 -0- -0- 4,055,000 -0- 9/30/2009 4/1/2018 12% 100,000 100,000 -0- -0- -0- 100,000 9/30/2009 4/1/2020 12% 1,300,000 625,000 -0- -0- -0- 625,000 Total $ 9,602,500 $ 7,275,000 $ -0- $ 75,000 $ 5,850,000 $ 1,350,000 The following table summarizes the convertible debt outstanding as of December 31, 2015 . Carrying amount Date of Maturity Interest Original Principal at Short term Long term issuance date rate principal December 31, 2015 Related Non related Related Non related 8/1/1999 6/30/2004 10% $ 862,500 $ 75,000 $ -0- $ 75,000 $ -0- $ -0- 8/29/2008 4/1/2017 10% 150,000 150,000 -0- -0- -0- 150,000 8/29/2008 4/1/2017 10% 2,120,000 1,770,000 -0- -0- 1,770,000 -0- 12/16/2008 4/1/2017 12% 260,000 260,000 -0- -0- -0- 260,000 12/16/2008 4/1/2017 12% 4,570,000 4,055,000 -0- -0- 4,055,000 -0- 12/16/2008 4/1/2018 12% 215,000 215,000 -0- -0- -0- 215,000 12/16/2008 4/1/2018 12% 25,000 25,000 -0- -0- 25,000 -0- 9/30/2009 4/1/2017 12% 1,300,000 625,000 -0- -0- -0- 625,000 9/30/2009 4/1/2018 12% 100,000 100,000 -0- -0- -0- 100,000 Total $ 9,602,500 $ 7,275,000 $ -0- $ 75,000 $ 5,850,000 $ 1,350,000 10% Convertible Notes During 1999, the Company issued 10% Convertible Notes payable in the amount of $862,500 pursuant to a Confidential Private Placement Memorandum. There were costs of $119,625 associated with this offering. The net proceeds to the Company were $742,875. The notes bear interest at 10% annually, payable semi-annually. The notes were convertible after maturity, which was June 30, 2004, into shares of common stock of the Company at $1.25 per share. We are in default in the payment of principal and interest. As of June 30, 2016, approximately $787,500 of the Convertible Notes had been repaid in cash or converted into 1,495,179 shares of common stock of the Company leaving an outstanding principal balance of $75,000. There was $128,488 of accrued interest at June 30, 2016. Secured Convertible Debentures On September 30, 2009, the Company sold an aggregate of $1,400,000 principal amount 12% Secured Convertible Debentures (the “Debentures”) and common stock purchase warrants (the “Warrants”) to purchase an aggregate of 5,600,000 shares of our common stock exercisable at a price of $0.25 per share for four years subsequent to the closing of the transaction to four accredited investors including our Chief Executive Officer and Director, Cornelis F. Wit (“Mr. Wit”). The Company received net proceeds of $1,400,000. The Debentures, which bear interest at 12% per annum, matured on March 30, 2011. The Debentures are convertible at any time at the option of the holder into shares of our common stock based upon a conversion rate of $0.25 per share. On March 30, 2011, the Company repaid $200,000 of the outstanding principal amounts owed and extended $1,200,000 of the convertible notes until April 1, 2013, including $1,100,000 in convertible notes held by Mr. Wit. The Company also extended the expiration date of the warrants associated with the September 2009 offering. On February 22, 2013, the Company and two holders extended $1,200,000 of the convertible notes until January 1, 2016, including $1,100,000 in convertible notes held by Mr. Wit. Mr. Wit also waived all his rights to the security interest under his $1,100,000 convertible notes. On January 31, 2015 the Company and Mr. Wit extended the maturity date of $1,100,000 of convertible debentures to Mr. Wit. The debentures carry an interest rate of 12% and have a maturity date of April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On November 19, 2015 Mr. Wit converted $475,000 of the convertible debentures into 1,900,000 shares of our common stock. On November 19, 2015 the Company and Mr. Wit agreed to cancel the 1,900,000 warrants related to the $475,000 in convertible debentures and $475,000 of unrelated promissory notes in exchange for 1,900,000 shares of our common stock. On November 23, 2015 Mr. Wit sold the remaining $625,000 of convertible debentures and the related warrants to two unrelated non-affiliate shareholders. On April 1, 2015 the Company and the holder extended the maturity date of $100,000 of convertible debentures to April 1, 2018. The expiration date of the warrants associated with the debentures was also extended to April 1, 2018. On June 30, 2016 the Company and two holders extended the maturity date of $625,000 of convertible debentures to April 1, 2020. The expiration date of the warrants associated with the debentures was also extended to April 1, 2020. Convertible Debentures August 2008 On August 29, 2008, the Company sold $2,270,000 of convertible debentures and warrants to purchase an aggregate of 4,540,000 shares of our common stock to four accredited investors including our Chief Executive Officer and Director, Cornelis F. Wit (“Mr. Wit”), and one of our Directors. The convertible debentures, which bear interest at 10% per annum, were due on August 29, 2010. The convertible debentures are convertible at any time at the option of the holder into shares of our common stock based upon a conversion rate of $0.50 per share. On September 30, 2009, two Affiliates of the Company extended $1,920,000 of the convertible debentures until August 29, 2013 in accordance with the terms of a Secured Convertible Debenture issued on that date. On February 22, 2013 the Company and Mr. Wit extended the maturity date of $1,770,000 of the convertible debentures to January 1, 2016. The expiration date of the warrants associated with the debentures was also extended to January 1, 2016. On February 22, 2013 the Company and Mr. van Kesteren extended the maturity date of $150,000 of the convertible debentures due to our former Director, Guus van Kesteren (“Mr. van Kesteren”) to January 1, 2015. The expiration date of the warrants associated with the debentures was also extended to January 1, 2015. On April 21, 2014 the Company and Mr. van Kesteren, extended the maturity date of his $150,000 of convertible debentures to April 1, 2016. The expiration date of the warrants associated with the debentures was also extended to April 1, 2016. On July 31, 2014 Mr. van Kesteren’s term on the Board of Directors ended. Effective on the same date, his convertible note in the amount of $150,000 was reclassified from Related Party to Non-Related Party. On January 31, 2015 the Company and Mr. Wit extended the maturity date of the $1,770,000 of convertible debentures to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On June 30, 2015 the Company and Mr. van Kesteren extended the maturity date of $150,000 of convertible debentures to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On June 30, 2016 the Company and Mr. Wit extended the maturity date of the $1,770,000 of convertible debentures to April 1, 2020. The expiration date of the warrants associated with the debentures was also extended to April 1, 2020. On June 30, 2016 the Company and Mr. van Kesteren extended the maturity date of $150,000 of convertible debentures to April 1, 2018. The expiration date of the warrants associated with the debentures was also extended to April 1, 2018. December 2008 On December 16, 2008, the Company sold $5,075,000 of convertible debentures and warrants to purchase an aggregate of 10,150,000 shares of common stock to eleven accredited investors including our Chief Executive Officer and Director, Cornelis F. Wit (“Mr. Wit”), our Chief Operating Officer and President, Stephen E. Johnson (“Mr. Johnson”), our Chairman and Chief Technology Officer, Randall G. Smith (“Mr. Smith”), our Chief Financial Officer, Ronald T. Linares, and four of our Directors. The convertible debentures, which bear interest at 12% per annum, were due on December 16, 2010. The convertible debentures are convertible at any time at the option of the holder into shares of our common stock based upon a conversion rate of $0.50 per share. On September 30, 2009 Affiliates of the Company extended $4,980,000 of Convertible Notes until December 16, 2013 in accordance with the terms of a Secured Convertible Debenture issued on that date. On February 22, 2013 the Company and the holders agreed to extend the maturity date of $4,505,000 of the convertible debentures including $4,475,000 due to Mr. Wit, $25,000 due to Mr. Johnson, and $5,000 due to Mr. Smith, to January 1, 2016. The expiration date of the warrants associated with the debentures was also extended to January 1, 2016. On February 27, 2013 the Company and Mr. Veatch extended the maturity date of $15,000 of convertible debentures issued to our former Director, Matthew Veatch, to January 1, 2016. The expiration date of the warrants associated with the debentures was also extended to January 1, 2016. On March 6, 2013, the Company and one of the holders agreed to extend the maturity date of $200,000 of convertible debentures to January 1, 2014. The expiration date of the warrants associated with the debentures was also extended to January 1, 2014. On March 12, 2013, the Company and one of the holders agreed to extend the maturity date of $100,000 of convertible debentures to January 1, 2015. The expiration date of the warrants associated with the debentures was also extended to January 1, 2015. In December 2013, the Company and two holders agreed to extend the maturity date of $360,000, including $160,000 due to our former Director, Guus van Kesteren (“Mr. van Kesteren”), of convertible debentures to January 1, 2016. The expiration date of the warrants associated with the debentures was also extended to January 1, 2016. On July 31, 2014 Mr. van Kesteren’s term on the Board of Directors ended. Effective on the same date, his convertible note in the amount of $160,000 was reclassified from Related Party to Non-Related Party. On April 28, 2014 the Company and the holder extended the maturity date of $100,000 of convertible debentures to April 1, 2016. The expiration date of the warrants associated with the debentures was also extended to April 1, 2016. On January 31, 2015 the Company and Mr. Wit extended the maturity date of $4,475,000 of convertible debentures to Mr. Wit to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On November 19, 2015 the Company and Mr. Wit agreed to cancel $420,000 of the debentures and 1,680,000 of unrelated warrants in exchange for 1,680,000 shares of our common stock. On April 27, 2015, the Company and the holder extended the maturity date of $200,000 of convertible debentures to April 1, 2018. The expiration date of the warrants associated with the debentures was also extended to April 1, 2018. On April 30, 2015, the Company and Mr. Johnson extended the maturity date of $25,000 of convertible debentures to April 1, 2018. The expiration date of the warrants associated with the debentures was also extended to April 1, 2018. On May 1, 2015 we paid $5,000 to Mr. Smith in exchange for $5,000 of convertible debentures originally issued in December 2008. On May 1, 2015 the Company and Mr. van Kesteren extended the maturity date of $160,000 of convertible debentures to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On May 7, 2015 the Company and our former Director, Matthew Veatch, extended the maturity date of $15,000 of convertible debentures to April 1, 2018. The expiration date of the warrants associated with the debentures was also extended to April 1, 2018. On June 30, 2015 the Company and the holder extended the maturity date of $100,000 of convertible debentures to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On June 30, 2016 the Company and Mr. Wit extended the maturity date of $4,055,000 of convertible debentures to Mr. Wit to April 1, 2020. The expiration date of the warrants associated with the debentures was also extended to April 1, 2020. On June 30, 2016 the Company and Mr. van Kesteren extended the maturity date of $160,000 of convertible debentures to April 1, 2018. The expiration date of the warrants associated with the debentures was also extended to April 1, 2018. On June 30, 2016 the Company and the holder extended the maturity date of $100,000 of convertible debentures to April 1, 2020. The expiration date of the warrants associated with the debentures was also extended to April 1, 2020. December 2009 On December 31, 2009, the Company sold an aggregate of $1,490,000 principal amount 12% Convertible Debentures (the “Debentures”) and common stock purchase warrants (the “Warrants”) to purchase an aggregate of 5,960,000 shares of our common stock exercisable at a price of $0.25 per share for four years subsequent to the closing of the transaction to three accredited investors including our Chief Executive Officer and Director, Cornelis F. Wit (“Mr. Wit”). The Company received net proceeds of $1,490,000. The Debentures, which bear interest at 12% per annum, matured on June 30, 2011. The Debentures are convertible at any time at the option of the holder into shares of our common stock based upon a conversion rate of $0.25 per share. On September 30, 2011, the Company extended all $1,490,000 of the convertible notes until October 1, 2013, including $1,440,000 in convertible notes held by Mr. Wit. The Company also extended the expiration date of the warrants associated with the December 2009 offering until December 31, 2015. On February 22, 2013, the Company extended all $1,490,000 of the convertible notes until January 1, 2016, including $1,440,000 in convertible notes held by Mr. Wit. The Company also extended the expiration date of the warrants associated with the December 2009 offering until January 1, 2016. On January 31, 2015 the Company and Mr. Wit extended the maturity date of $1,440,000 of convertible debentures to Mr. Wit, originally issued in December 2009. The debentures carry an interest rate of 12% and have a maturity date of April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On November 19, 2015 Mr. Wit converted $1,440,000 of the convertible debentures into 5,760,000 shares of our common stock. On November 19, 2015 the Company and Mr. Wit agreed to cancel the 5,760,000 warrants related to the convertible debentures and $1,440,000 of unrelated promissory notes in exchange for 5,760,000 shares of our common stock. On April 1, 2015 the Company and the holders extended the maturity date of $50,000 of convertible debentures originally issued in December 2009. The debentures carry an interest rate of 12% and have a maturity date of April 1, 2018. On December 7, 2015 the convertible debentures were paid off. The principal payments required at maturity under the Company’s outstanding convertible debt at June 30, 2016 are as follows: 2016 $ 75,000 2017 -0- 2018 650,000 2019 -0- 2020 6,550,000 Total $ 7,275,000 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurement | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 9 : FAIR VALUE MEASUREMENT The Company measures the fair value of its assets and liabilities under the guidance of ASC 820, Fair Value Measurements and Disclosures ASC 820 clarifies that fair value is an exit price, representing the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants based on the highest and best use of the asset or liability. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. ASC 820 requires the Company to use valuation techniques to measure fair value that maximize the use of observable inputs and minimize the use of unobservable inputs. These inputs are prioritized as follows: · Level 1 · Level 2 · Level 3 The valuation techniques that may be used to measure fair value are as follows: A. Market approach B. Income approach C. Cost approach The Company also adopted the provisions of ASC 825, Financial Instruments The Company’s financial assets or liabilities subject to ASC 820 as of June 30, 2016 include the conversion feature and warrant liability associated with convertible debentures issued during 2008 and 2009 and the warrants issued during 2011 and 2016 that are associated with notes payable. The conversion feature and warrants were deemed to be derivatives (the “Derivative Instruments”) since a fixed conversion price cannot be determined for either of the Derivative Instruments due to anti-dilution provisions embedded in the offering documents for the convertible debentures. The derivative instruments were not issued for risk management purposes and as such are not designated as hedging instruments under the provisions of ASC 815 , Disclosures about Derivative Instruments and Hedging Activities Following is a description of the valuation methodologies used to determine the fair value of the Company’s financial liabilities including the general classification of such instruments pursuant to the valuation hierarchy. A summary as of June 30, 2016 of the fair value of liabilities measured at fair value on a recurring basis follows: Fair value at June 30, 2016 Quoted prices in active markets for identical assets/ liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Derivatives: (1) (2) Conversion feature liability $ 2,313,328 $ -0- $ -0- $ 2,313,328 Warrant liability 3,812,690 -0- -0- 3,812,690 Total of derivative liabilities $ 6,126,018 $ -0- $ -0- $ 6,126,018 (1) The fair value of the derivative instruments was estimated using the Income Approach and the Black Scholes option pricing model with the following assumptions for the period ended June 30, 2016 (2) The fair value at the measurement date is equal to the carrying value on the balance sheet Significant valuation assumptions for derivative instruments at June 30, 2016 Risk free interest rate 0.56% to 0.92% Dividend yield 0.00% Expected volatility 106.3% to 139.4% Expected life (range in years) Conversion feature liability 1.75 to 3.76 Warrant liability 0.75 to 3.76 A summary as of December 31, 2015 of the fair value of liabilities measured at fair value on a recurring ba s Fair value at Quoted prices in active markets for identical assets/ liabilities Significant other observable inputs Significant unobservable inputs December 31, 2015 (Level 1) (Level 2) (Level 3) Derivatives: (1) (2) Conversion feature liability $ 901,243 $ -0- $ -0- $ 901,243 Warrant liability 1,914,923 -0- -0- 1,914,923 Total of derivative liabilities $ 2,816,166 $ -0- $ -0- $ 2,816,166 (1) The fair value of the derivative instruments was estimated using the Income Approach and the Black Scholes option pricing model with the following assumptions for the year ended December 31, 2015 (2) The fair value at the measurement date is equal to the carrying value on the balance sheet Significant valuation assumptions for derivative instruments at December 31, 2015 Risk free interest rate 0.48% to 1.2% Dividend yield 0.00% Expected volatility 91.0% to 132.2% Expected life (range in years) Conversion feature liability 1.25 to 2.25 Warrant liability 0.00 to 3.01 A summary as of June 30, 2016 of the fair value of assets measured at fair value on a non-recurring basis follows: Carrying amount Carrying amount Quoted prices in active markets for identical assets/ liabilities Significant other observable inputs Significant unobservable inputs December 31, 2015 June 30, 2016 (Level 1) (Level 2) (Level 3) Acquired assets (3) Promasys B.V. customer list (4) $ 92,444 $ 90,703 $ -0- $ -0- $ 136,253 Promasys B.V. software code (4) 41,274 33,991 -0- -0- 72,943 Promasys B.V. URLs/website (4) 15,159 6,190 -0- -0- 68,814 Total $ 148,877 $ 130,884 $ -0- $ -0- $ 278,010 (3) The fair value of the acquired assets was estimated using the Income Approach with a discounted cash flow valuation methodology applied. (4) The acquired Promasys B.V. software code, customer list and URLs/website are not measured on a recurring basis since their initial fair value has been deemed to have a finite life and is being amortized periodically. Instead the Company performs an impairment analysis on a quarterly basis in order to determine whether the carrying value of the assets reflects the fair value of the assets in a market based transaction. Other identifiable intangible assets, which are subject to amortization, are being amortized using the straight-line method over their estimated useful lives ranging from 3 to 15 years. The Impairment or Disposal of Long-Lived Asset subsection of ASC 360, Property, Plant and Equipment The table below presents the unrealized gains/(losses) for the six month periods ended June 30, 2016 and June 30, 2015 . Other income/(expense) For the six months ended June 30, 2016 June 30, 2015 The net amount of gains/(losses) for the period included in earnings attributable to the unrealized gain/(losses) from changes in derivative liabilities at the reporting date $ (2,458,836 ) $ 4,072,798 Total unrealized gains/(losses) included in earnings $ (2,458,836 ) $ 4,072,798 The tables below set forth a summary of changes in fair value of the Company’s Level 3 financial liabilities at fair value for the periods ended June 30, 2016 and December 31, 2015. The tables reflect changes for all financial liabilities at fair value categorized as Level 3 as of June 30, 2016 and December 31, 2015. Level 3 financial liabilities at fair value For the six months ended Balance, beginning Net realized Net unrealized instruments held at the Net purchases, Net transfers Balance, end of June 30, 2016 of year gains/(losses) reporting date settlements in and/or out period Derivatives: Conversion feature liability $ (901,243 ) $ -0- $ (1,412,085 ) $ -0- $ -0- $ (2,313,328 ) Warrant liability (1,914,923 ) -0- (1,046,751 ) (851,016 ) -0- (3,812,690 ) Total of derivative liabilities $ (2,816,166 ) $ -0- $ (2,458,836 ) $ (851,016 ) $ -0- $ (6,126,018 ) Level 3 financial liabilities at fair value For the year ended Balance, beginning Net realized Net unrealized instruments held at the Net and Net transfers Balance, December 31, 2015 of year gains/(losses) reporting date settlements in and/or out year Derivatives: Conversion feature liability $ (2,944,402 ) $ 29,875 $ 2,013,284 $ -0- $ -0- $ (901,243 ) Warrant liability (6,695,060 ) -0- 2,482,639 (868,128 ) 3,165,626 (1,914,923 ) Total of derivative liabilities $ (9,639,462 ) $ 29,875 $ 4,495,923 $ (868,128 ) $ 3,165,626 $ (2,816,166 ) |
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 1 0 : COMMITMENTS AND CONTINGENCIES The Company currently leases office space under operating leases for its office locations and has operating leases related to server and network co-location and disaster recovery for its operations. The minimum future lease payments required under the Company’s operating leases at June 30, 2016 are as follows: 2016 $ 396,069 2017 662,992 2018 512,421 2019 421,230 2020 297,570 Thereafter 580,512 Total $ 2,870,794 In addition to annual base rental payments, the Company pays for the operating expenses associated with its leased office space and is responsible for any escalation in operating expenses as determined in the leases. Rent expense was $501,058 and $482,711 for the six month periods ended June 30, 2016 and June 30, 2015, respectively. The Company’s Fort Lauderdale, Florida corporate office lease expires in February 2023 . The Company’s lease on its New Jersey field office expires in March 2021. The Company currently operates its wholly-owned subsidiary, OmniComm Ltd., in the United Kingdom under the terms of a lease that expires in September 2017. The Company currently operates its wholly-owned subsidiary, OmniComm Europe, GmbH, in Germany under the terms of a lease that expires in July 2017 . The Company currently operates its wholly-owned subsidiary, OmniComm Promasys B.V, in the Netherlands under the terms of a lease that expires in October 2018. LEGAL PROCEEDINGS From time to time the Company may be involved in litigation relating to claims arising out of our operations in the normal course of business. As of June 30, 2016, there were no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations. PATENT LITIGATION SETTLEMENT Effective April 9, 2009, we entered into a Settlement and License Agreement with DataSci, LLC (“DataSci”). DataSci granted us a worldwide, non-exclusive non-transferable right and license under the Licensed Patent and the right to sublicense TrialMaster on a Technology Transfer and Technology Transition basis. Under the terms of the license, we are obligated to pay royalties quarterly for sales of Licensed Products, as defined therein, from January 1, 2009 until the expiration of the Licensed Patent equal to two percent (2%) of OmniComm’s annual Gross Revenues or, alternatively, the annual minimum royalty payment(s), whichever is greater. In addition to the payment of royalties, the Settlement and Licensing Agreement imposes certain obligations on us including commercialization, certain sublicensing, other payments, insurance, and confidentiality. In addition and as a license fee for past use of the Licensed Patent which may have occurred prior to the effective date of the Settlement and Licensing Agreement, we issued a warrant to DataSci to purchase 1,000,000 shares of our common stock at an exercise price of $.01 per share. The Settlement and Licensing Agreement provides that upon the expiration date of the warrant, at DataSci’s sole discretion, DataSci shall exercise its option under the warrant or licensee shall pay DataSci $300,000. The warrant is exercisable commencing on the second anniversary of the Settlement and Licensing Agreement, April 2, 2011, through the expiration date of the warrant, deemed to be on the termination date of the Settlement and Licensing Agreement on May 12, 2018. On June 23, 2009, we entered into an agreement to acquire the EDC assets of eResearch Technology. Concurrent with the consummation of that transaction we entered into the First Amendment to Settlement and Licensing Agreement with DataSci, (i) to include the eResearch Technology EDC assets acquired within the definition of Licensed Products, and as such subject to the royalty payment(s), under and in accordance with the Settlement and Licensing Agreement, and (ii) provide a release by DataSci of any and all claims of infringement of the Licensed Patent in connection with the eResearch Technology EDC assets acquired which may have occurred prior to the effective date of the First Amendment to Settlement and Licensing Agreement for an aggregate amount of $300,000. The remaining minimum royalty payments per year are as follows: 2016 $ 225,000 2017 450,000 2018 164,500 Total $ 839,500 During the six month periods ended June 30, 2016 and June 30, 2015 the Company recorded a charge to earnings of $52,322 and $64,822 respectively, which amounts represent (i) the amount of additional license expense incurred above the stipulated minimum in the DataSci License Agreement during the six month periods ended June 30, 2016 and June 30, 2015 and (ii) the accretion of the difference between the total stipulated annual minimum royalty payments and the recorded present value accrual of the annual minimum royalty payments. EMPLOYMENT AGREEMENTS We have employment agreements in place with the following members of our executive management team: Cornelis F. Wit, Chief Executive Officer Randall G. Smith, Chief Technology Officer Stephen E. Johnson, President and Chief Operating Officer The employment agreements provide, among other things, for participation in employee benefits available to employees and executives. Each of the agreements will renew for successive one-year terms unless the agreement is expressly cancelled by either the employee or the Company ninety days prior to the end of the term. Under the terms of the agreement, we may terminate the employee’s employment upon 30 days notice of a material breach and the employee may terminate the agreement under the same terms and conditions. The employment agreements contain non-disclosure provisions, as well as non-compete clauses. The agreements for Mr. Smith and Mr. Johnson contain severance provisions. |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 1 1 : RELATED P ARTY TRANSACTIONS On April 1, 2015 the Company issued a promissory note in the amount of $20,000 to our Chairman and Chief Technology Officer, Randall G. Smith (“Mr. Smith”), in exchange for an existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of April 1, 2018. On April 30, 2015, the Company and Stephen E. Johnson, our Chief Operating Officer and President (“Mr. Johnson”) extended the maturity date of $25,000 of convertible debentures to Mr. Johnson, originally issued in December 2008. The debentures carry an interest rate of 12% and have a maturity date of April 1, 2018. The expiration date of the warrants associated with the debentures was also extended to April 1, 2018. On May 1, 2015 the Company paid $5,000 to Mr. Smith in exchange for an outstanding convertible note in the same amount. The note carried an interest rate of 12% and had a maturity date of January 1, 2016. As of June 30, 2016, we have an aggregate of $5,825,000 of convertible debentures and $450,000 of promissory notes outstanding to our Chief Executive Officer and Director, Cornelis F. With (“Mr. Wit”), and have issued certain warrants to Mr. Wit, as follows: ● In June 2008, Mr. Wit invested $510,000 in convertible notes. On August 29, 2008, Mr. Wit converted the $510,000 and invested an additional $1,260,000 in a private placement of convertible debentures and warrants to purchase 3,540,000 shares of our common stock. The convertible debentures, which bear interest at 10% per annum, were due on August 29, 2010. The convertible debentures are convertible at any time at the option of the holder into shares of our common stock based upon a conversion rate of $0.50 per share. On September 30, 2009, the Company and Mr. Wit extended the $1,770,000 of convertible debentures until August 29, 2013 in accordance with the terms of a Secured Convertible Debenture issued on that date. On February 22, 2013, the Company and Mr. Wit extended the maturity date of the $1,770,000 of convertible debentures to January 1, 2016. The expiration date of the warrants associated with the debentures was also extended to January 1, 2016. On January 31, 2015 the Company and Mr. Wit extended the maturity date of the $1,770,000 of convertible debentures to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On June 3 0, 2016 the Company and Mr. Wit extended the maturity date of the $1,770,000 of convertible debentures to April 1, 2020. The expiration date of the warrants associated with the debentures was also extended to April 1, 2020 . ● In February 2008, Mr. Wit invested $150,000 in promissory notes and from September 2008 to December 2008, Mr. Wit invested $4,200,000 in convertible notes. On December 16, 2008, Mr. Wit converted the $4,350,000 into a private placement of convertible debentures and warrants to purchase 8,700,000 shares of our common stock. The convertible debentures, which bear interest at 12% per annum, were due on December 16, 2010. The convertible debentures are convertible at any time at the option of the holder into shares of our common stock based upon a conversion rate of $0.50 per share. On September 30, 2009, the Company and Mr. Wit extended the $4,350,000 of convertible debentures until December 16, 2013 in accordance with the terms of a Secured Convertible Debenture issued on that date. In a private transaction on October 16, 2012, Mr. Wit purchased $125,000 of the December 2008 convertible debentures and the related 250,000 warrants from Mr. Ronald Linares, the Company’s former Chief Financial Officer. On February 22, 2013, the Company and Mr. Wit extended the maturity date of the $4,475,000 of convertible debentures to January 1, 2016. The expiration date of the warrants associated with the debentures was also extended to January 1, 2016. On January 31, 2015 the Company and Mr. Wit extended the maturity date of the $4,475,000 of convertible debentures to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On November 19, 2015 the Company and Mr. Wit agreed to cancel $420,000 of the debentures and 1,680,000 of unrelated warrants in exchange for 1,680,000 shares of our common stock. On June 3 0, 2016 the Company and Mr. Wit extended the maturity date of the $4,055,000 of convertible debentures to April 1, 2020. The expiration date of the warrants associated with the debentures was also extended to April 1, 2020 . ● From July 2009 to September 2009, Mr. Wit invested $1,100,000 which amount was aggregated under the terms of one convertible note dated September 30, 2009. On September 30, 2009, Mr. Wit agreed to convert this convertible note into a private placement of secured convertible debentures bearing interest at a rate of 12% per annum with a maturity date of March 30, 2011. The convertible debentures were convertible into 4,400,000 shares of common stock and Mr. Wit received 4,400,000 warrants to purchase common stock of the Company at a price of $0.25. On March 30, 2011, the Company and Mr. Wit extended the maturity date of his convertible note until April 1, 2013 in accordance with the terms of Amendment Number One To Securities Purchase Agreement. The Company also extended the expiration date of the 4,400,000 warrants issued with convertible note by two years to September 30, 2015. On February 22, 2013, the Company and Mr. Wit extended the maturity date of his convertible debentures to January 1, 2016 and waived all his rights to the granted security interest in accordance with the terms of Amendment Number Two To Securities Purchase Agreement. The expiration date of the warrants associated with the debentures was also extended to January 1, 2016. On January 31, 2015 the Company and Mr. Wit extended the maturity date of the $1,100,000 of convertible debentures to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On November 19, 2015 Mr. Wit converted $475,000 of the convertible debentures into 1,900,000 shares of our common stock. On November 19, 2015 the Company and Mr. Wit agreed to cancel the 1,900,000 warrants related to the $475,000 in convertible debentures and $475,000 of unrelated promissory notes in exchange for 1,900,000 shares of our common stock. On November 23, 2015 Mr. Wit sold the remaining $625,000 of convertible debentures and the related warrants to two unrelated non-affiliate shareholders. ● From October 2009 to December 2009, Mr. Wit invested $1,440,000, which amount was aggregated under the terms of one convertible note dated December 31, 2009. On December 31, 2009, Mr. Wit agreed to convert this Convertible Note into a private placement of unsecured convertible debentures bearing interest at a rate of 12% per annum, which Convertible Debentures were due on June 30, 2011. The Company and Mr. Wit extended the maturity date of his convertible note until October 1, 2013 in accordance with the terms of Amendment Number One To Securities Purchase Agreement. The Company also extended the expiration date of the 5,760,000 warrants issued with convertible note by two years to December 31, 2015. On February 22, 2013, the Company and Mr. Wit extended the maturity date of his convertible debentures to January 1, 2016 in accordance with the terms of Amendment Number Two To Securities Purchase Agreement. The expiration date of the warrants associated with the debentures was also extended to January 1, 2016. On January 31, 2015 the Company and Mr. Wit extended the maturity date of the $1,440,000 of convertible debentures to April 1, 2017. The expiration date of the warrants associated with the debentures was also extended to April 1, 2017. On November 19, 2015 Mr. Wit converted $1,440,000 of the convertible debentures into 5,760,000 shares of our common stock. On November 19, 2015 the Company and Mr. Wit agreed to cancel the 5,760,000 warrants related to the convertible debentures and $1,440,000 of unrelated promissory notes in exchange for 5,760,000 shares of our common stock. ● On January 1, 2014, the Company issued a promissory note in the principal amount of $980,000 and warrants to purchase 3,920,000 shares of common stock of the Company at an exercise price of $0.25 with an expiration date of April 1, 2017 to Mr. Wit in exchange for accrued interest in the amount of $980,000. The note carries an interest rate of 12% per annum and is due on April 1, 2017. On October 15, 2015 the Company issued a promissory note in the amount of $980,000 to Mr. Wit in exchange for the existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the promissory note and the related warrants were cancelled in exchange for 3,920,000 shares of our common stock . ● On January 31, 2015 the Company issued a promissory note in the amount of $2,860,000 and paid $6,879 in principal to Mr. Wit in exchange for an existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of April 1, 2017. The expiration date of the warrants associated with the promissory note was also extended to April 1, 2017. On October 15, 2015 the Company issued a promissory note in the amount of $2,860,000 to Mr. Wit in exchange for the existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the Company and Mr. Wit agreed to cancel the promissory note and 11,440,000 warrants related to the promissory note in exchange for 11,440,000 shares of our common stock. ● On January 31, 2015 the Company issued a promissory note in the amount of $529,000 to Mr. Wit in exchange for an existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of April 1, 2017. The expiration date of the warrants associated with the promissory note was also extended to April 1, 2017. On October 15, 2015 the Company issued a promissory note in the amount of $529,000 to Mr. Wit in exchange for the existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the promissory note and the related warrants were cancelled in exchange for 2,116,000 shares of our common stock. ● On January 31, 2015, the Company issued a promissory note in the principal amount of $950,000 and warrants to purchase 3,800,000 shares of common stock of the Company at an exercise price of $0.25 per share with an expiration date of April 1, 2017 to Mr. Wit in exchange for an existing promissory note in the amount of $280,000 and accrued interest in the amount of $670,000. The note carries an interest rate of 12% per annum and is due on April 1, 2017. On October 15, 2015 the Company issued a promissory note in the amount of $950,000 to Mr. Wit in exchange for the existing promissory note in the same amount. The promissory note carries an interest rate of 12% and has a maturity date of January 1, 2019. The expiration date of the warrants associated with the promissory note was also extended to January 1, 2019. On November 19, 2015 the Company and Mr. Wit agreed to cancel the promissory note and the warrants related to the promissory note in exchange for 3,800,000 shares of our common stock. ● On November 19, 2015 we issued 37,023,517 restricted shares of our common stock to Mr. Wit. The shares were issued in exchange (i) for the cancellation of $6,919,000 of outstanding 12% promissory notes, $420,000 of outstanding 12% convertible notes payable and 29,363,517 outstanding warrants to purchase shares of our common stock at $0.25 per share and (ii) the conversion of $1,915,000 of convertible notes payable with a conversion price of $0.25 per share. ● On February 29, 2016, the Company issued a promissory note in the principal amount of $450,000 and warrants to purchase 1,800,000 shares of common stock of the Company at an exercise price of $0.25 per share with an expiration date of April 1, 2019 to Mr. Wit in exchange for accrued interest in the amount of $450,000. The note carries an interest rate of 12% per annum and has a maturity date of April 1, 2019. On March 18, 2013, the Company entered into a $2,000,000 revolving Line of Credit (“Line of Credit”) with The Northern Trust Company guaranteed by our Chief Executive Officer and Director , Cornelis F. Wit. Mr. Wit receives 2.0% interest (approximately $9,500 per month) from the Company on the assets pledged for the Line of Credit. On December 18, 2013 the Company renewed the Line of Credit and increased the available balance to $4,000,000. On February 3, 2015 the Company renewed the Line of Credit and increased the available balance to $5,000,000. The Line of Credit matures on February 2, 2018 and carries a variable interest rate based on the prime rate. At June 30, 2016, $5,000,000 was outstanding on the Line of Credit at an interest rate of 2.5%. For the six month periods ended June 30, 2016 and June 30, 2015 we incurred $443,686 and $1,299,785, respectively, in interest expense payable to related parties. |
Note 12 - Stockholders' (Defici
Note 12 - Stockholders' (Deficit) | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 1 2 : STOCKHOLDERS’ (DEFICIT) Our authorized capital stock consists of 500,000,000 shares of common stock, $.001 par value per share, and 10,000,000 shares of preferred stock, par value $.001 per share, of which 5,000,000 shares have been designated as 5% Series A Preferred Stock, 230,000 shares have been designated as Series B Preferred Stock, 747,500 shares have been designated as Series C Preferred Stock and 250,000 shares have been designated as Series D Preferred Stock. At the 2016 Annual Meeting of Stockholders the proposed amendment to the Company’s Certificate of Incorporation to increase the authorized number of shares of common stock by 250,000,000 shares to an aggregate of 500,000,000 shares received an affirmative vote from the holders of a majority of the outstanding shares of Voting Securities and an affirmative vote from the holders of a majority of the outstanding shares of common stock. Based on the votes received, the proposed amendment was approved and the number of authorized shares of common stock of the Company was increased from 250,000,000 shares to 500,000,000 shares. As of June 30, 2016 we had the following outstanding securities: o 147,683,879 shares of common stock issued and outstanding; o 27,860,000 warrants issued and outstanding to purchase shares of our common stock; o -0- shares of our Series A Preferred Stock issued and outstanding; o -0- shares of our Series B Preferred Stock issued and outstanding; o -0- shares of our Series C Preferred Stock issued and outstanding; o 250,000 share of our Series D Preferred Stock issued and outstanding; and o $7,275,000 principal amount Convertible Debentures convertible into 15,910 ,000 shares of common stock. Common Stock Holders of common stock are entitled to one vote for each share on all matters submitted to a stockholder vote. Holders of our voting securities do not have cumulative voting rights. Holders of common stock are entitled to share in all dividends that the Board of Directors, in its discretion, declares from legally available funds. In the event of our liquidation, dissolution or winding up each outstanding share of common stock entitles its holder to participate in all assets that remain after payment of liabilities and after providing for each class of stock, if any, having preference over the common stock. Holders of common stock have no conversion, preemptive or other subscription rights, and there are no redemption provisions for the common stock. The rights of the holders of common stock are subject to any rights that may be fixed for holders of preferred stock, when and if any preferred stock is outstanding. All outstanding shares of common stock are duly authorized, validly issued, fully paid and non-assessable. Preferred S tock Our Board of Directors, without further stockholder approval, may issue preferred stock in one or more series from time to time and fix or alter the designations, relative rights, priorities, preferences, qualifications, limitations and restrictions of the shares of each series. In addition, the Board of Directors may fix and determine all privileges and rights of the authorized preferred stock series including: o dividend and liquidation preferences; o voting rights; o conversion privileges; and o redemption terms . Our Board of Directors may authorize the issuance of preferred stock which ranks senior to our common stock for the payment of dividends and the distribution of assets on liquidation. In addition, our Board of Directors can fix limitations and restrictions, if any, upon the payment of dividends on our common stock to be effective while any shares of preferred stock are outstanding. During the period from December 2015 through April 2016 all 5% Series A Preferred Stock Shareholders accepted the Exchange Offer and converted a total of 4,125,224 Series A preferred shares into 16,500,896 common shares. The following table presents the cumulative arrearage of undeclared dividends by class of preferred stock as of June 30, 2016 and June 30, 2015, respectively, and the per share amount by class of preferred stock. Cumulative arrearage as of Cumulative arrearage per share as of June 30, June 30, Series of preferred stock 2016 2015 2016 2015 Series A $ -0- $ 2,688,984 $ -0- $ 0.65 Series B 609,887 609,887 $ 3.05 $ 3.05 Series C 1,472,093 1,472,093 $ 4.37 $ 4.37 Total preferred stock arrearage $ 2,081,980 $ 4,770,964 The following table presents preferred dividends accreted for the six month periods ended June 30, 2016 and June 30, 2015, respectively, and the per share effect of the preferred dividends if their effect was not anti-dilutive. Dividends accreted Dividends per share For the six months ended For the six months ended June 30, June 30, 2016 2015 2016 2015 Preferred stock dividends in arrears Series A $ 1,870 $ 102,283 $ 0.012 $ 0.025 Preferred stock dividends in arrears Series B $ -0- $ -0- $ -0- $ -0- Preferred stock dividends in arrears Series C $ -0- $ -0- $ -0- $ -0- Warrants Issued for Services and in Capital Transactions The following tables summarize all outstanding warrants for the periods ended June 30, 2016 and December 31, 2015, and the related changes during these periods. June 30, 2016 June 30, 2016 Warrants outstanding Warrants exercisable Range of exercise price Number outstanding Weighted average contractual life Weighted average price Number exercisable Weighted average price $0.25 – $0.60 27,860,000 3.21 $ 0.42 27,860,000 $ 0.42 December 31, 2015 December 31, 2015 Warrants outstanding Warrants exercisable Range of exercise price Number outstanding Weighted average remaining contractual life Weighted average Number exercisable Weighted average $0.25 – $0.60 22,900,000 1.76 $ 0.46 22,900,000 $ 0.46 Warrants Balance at December 31, 2014 48,463,517 Issued 3,800,000 Exercised -0- Cancelled (29,363,517 ) Expired/forfeited -0- Balance at December 31, 2015 22,900,000 Issued 4,970,000 Exercised -0- Expired/forfeited (10,000 ) Balance at June 30, 2016 27,860,000 Warrants exercisable at June 30, 2016 27,860,000 Weighted average fair value of warrants granted during 2016 $ 0.15 Other Comprehensive (Loss) Due to the availability of net operating losses and related deferred tax valuations, there is no tax effect associated with any component of other comprehensive (loss). The following table lists the beginning balance, activity and ending balance of the components of accumulated other comprehensive (loss). Foreign currency translation Accumulated other comprehensive (loss) Balance at December 31, 2014 $ (243,827 ) $ (243,827 ) 2015 Activity (122,528 ) (122,528 ) Balance at December 31, 2015 (366,355 ) (366,355 ) 2016 Activity (17,787 ) (17,787 ) Balance at June 30, 2016 $ (384,142 ) $ (384,142 ) |
Note 13 - Employee Equity Incen
Note 13 - Employee Equity Incentive Plans | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 1 3 : EMPLOYEE EQUITY INCENTIVE PLANS Stock Option Plan s Description of 20 16 Equity Incentive Plan In 2016, the Company’s Board of Directors and shareholders approved the OmniComm Systems, Inc. 2016 Equity Incentive Plan (the “2016 Plan”). The 2016 Plan provides for granting Incentive Stock Options, Nonqualified Stock Options, Stock Appreciation Rights, Restricted Stock Awards, Phantom Stock Unit Awards and Performance Share Units. The 2016 Plan provides for the issuance of up to 10,000,000 shares of our common stock for issuance upon awards granted under the 2016 Plan. In addition, the number of shares of common stock available for issuance under the 2016 Plan shall automatically increase on January 1st of each year for a period of nine (9) years commencing on January 1, 2017 and ending on (and including) January 1, 2025, in an amount equal to five percent (5%) of the total number of shares authorized under the 2016 Plan . Unless earlier terminated by the Board, the 2016 Plan shall terminate on June 29, 2026. The maximum term for any option grant under the 2016 Plan is ten years from the date of the grant; however, options granted under the 2016 Plan will generally expire five years from the date of grant. Options granted to employees generally vest either upon grant or in two installments. The first vesting, which is equal to 50% of the granted stock options, usually occurs upon completion of one full year of employment from the date of grant and the second vesting usually occurs on the second anniversary of the date of grant. The vesting period typically begins on the date of hire for new employees and on the date of grant for existing employees. The restrictions on restricted shares granted to employees generally lapse in three equal annual installments on the anniversary of the date of grant. Any unvested stock options or restricted shares with restrictions that have not lapsed that are granted under the 2016 Plan are forfeited and expire upon termination of employment. As of June 30, 2016, there were -0- outstanding options and -0- restricted stock shares that have been granted under the 2016 Plan. At June 30, 2016, there were 10,000,000 shares available for grant as options or other forms of share-based compensation under the 2016 Plan. Description of 2009 Equity Incentive Plan In 2009, the Company’s Board of Directors and shareholders approved the OmniComm Systems, Inc. 2009 Equity Incentive Plan (the “2009 Plan”). On June 16, 2016 the 2009 Plan terminated upon the approval of the 2016 Plan. The 2009 Plan provided for granting Incentive Stock Options, Nonqualified Stock Options, Stock Appreciation Rights, Restricted Stock Awards, Phantom Stock Unit Awards and Performance Share Units. Pursuant to the 2009 Plan, 7,500,000 shares of the Company’s common stock were authorized for issuance. The maximum term for any option grant under the 2009 Plan was ten years from the date of the grant; however, options granted under the 2009 Plan generally expired five years from the date of grant. Options granted to employees generally vested either upon grant or in two installments. The first vesting, which was equal to 50% of the granted stock options, usually occurred upon completion of one full year of employment from the date of grant and the second vesting usually occurred on the second anniversary of the date of grant. The vesting period typically began on the date of hire for new employees and on the date of grant for existing employees. The restrictions on restricted shares granted to employees generally lapsed in three equal annual installments on the anniversary of the date of grant. Any unvested stock options or restricted shares with restrictions that had not lapsed that were granted under the 2009 Plan were forfeited and expired upon termination of employment. As of June 30, 2016, there were 982,500 outstanding options and 3 ,893,330 restricted stock shares that have been granted under the 2009 Plan. At June 30, 2016, there were -0- shares available for grant as options or other forms of share-based compensation under the 2009 Plan. The following table summarizes the stock option activity for the Company’s equity incentive plans: Number of options Weighted average exercise price (per share) Weighted average remaining contractual term (in years) Aggregate intrinsic value Outstanding at December 31, 2014 3,130,000 $ 0.20 1.59 $ 364,900 Granted 225,000 0.25 Exercised (292,500 ) 0.12 Forfeited/cancelled/expired (1,060,000 ) 0.35 Outstanding at December 31, 2015 2,002,500 0.14 1.40 $ 198,990 Granted -0- -0- Exercised (1,012,500 ) 0.13 Forfeited/cancelled/expired (7,500 ) 0.13 Outstanding at June 30, 2016 982,500 $ 0.16 1.99 $ 57,088 Vested and exercisable at June 30, 2016 845,000 $ 0.15 1.70 $ 54,938 The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the Company’s closing stock price at quarter-end and the exercise price, multiplied by the number of in-the-money options) that would have been received by the option holders had all option holders exercised their options on June 30, 2016. The total number of shares vesting and the fair value of shares vesting for the six month periods ended June 30, 2016 and June 30, 2015, respectively, was: Fair value of options vesting for the six months ended Number of options vested Fair value of options vested June 30, 2016 112,500 $ 25,153 June 30, 2015 125,000 $ 22,235 Cash received for stock option exercises for the six month periods ended June 30, 2016 and June 30, 2015 was $125,000 and $27,250, respectively. Due to the Company’s net loss position, no income tax benefit has been realized during the six month periods ended June 30, 2016 and June 30, 2015. The following table summarizes information concerning options outstanding at June 30, 2016: Awards breakdown by price range at June 30, 2016 Outstanding Vested Strike price range ($) Outstanding stock options Weighted average remaining contractual life Weighted average outstanding strike price Vested stock options Weighted average remaining vested contractual life Weighted average vested strike price 0.00 to 0.20 757,500 1.72 $ 0.13 682,500 1.48 $ 0.13 0.21 to 0.29 125,000 2.33 0.22 112,500 2.17 0.21 0.30 to 0.49 100,000 3.67 0.30 50,000 3.67 0.30 0.50 to 0.70 -0- 0.00 0.00 -0- 0.00 0.00 0.00 to 0.70 982,500 1.99 $ 0.16 845,000 1.70 $ 0.15 The following table summarizes information concerning options outstanding at December 31, 2015: Awards breakdown by price range at December 31, 2015 Outstanding Vested Strike price range ($) Outstanding stock options Weighted average remaining contractual life Weighted average outstanding strike price Vested stock options Weighted average remaining vested contractual life Weighted average vested strike price 0.00 to 0.20 1,777,500 1.14 $ 0.13 1,652,500 0.93 $ 0.13 0.21 to 0.29 125,000 2.83 0.22 100,000 2.46 0.21 0.30 to 0.49 100,000 4.17 0.30 -0- 0.00 0.00 0.50 to 0.70 -0- 0.00 0.00 -0- 0.00 0.00 0.00 to 0.70 2,002,500 1.40 $ 0.14 1,752,500 1.02 $ 0.13 The weighted average fair value (per share) of options granted during the six month period ended June 30, 2016 was $0.0 as no options were granted during the period and $0.26 during the six month period ended June 30, 2015. The Black Scholes option-pricing model was utilized to calculate these values. Basis for Fair Value Estimate of Share-Based Payments Based on analysis of its historical volatility, the Company expects that the future volatility of its share price is likely to be similar to the historical volatility the Company experienced since the Company’s commercialization activities were initiated during the second half of 2000. The Company used a volatility calculation utilizing the Company’s own historical volatility to estimate its future volatility for purposes of valuing the share-based payments that have been granted. Actual volatility, and future changes in estimated volatility, may differ substantially from the Company’s current estimates. The Company utilizes the historical data available regarding employee and director exercise activity to calculate an expected life of the options. The table below presents the weighted average expected life in years of options granted under the Plan as described above. The risk-free rate of the stock options is based on the U.S. Treasury yield curve in effect at the time of grant, which corresponds with the expected term of the option granted. Below are the assumptions for the fair value of share-based payments for the periods ended June 30, 2016 and December 31, 2015. Stock option assumptions for the period ended Stock option assumptions June 30, 2016 December 31, 2015 Risk-free interest rate 1.30% 1.20% Expected dividend yield 0.0% 0.0% Expected volatility 157.6% 183.8% Expected life of options (in years) 5 5 The following table summarizes weighted average grant date fair value activity for the Company’s incentive stock plans: Weighted average grant date fair value for the six months ended June 30, 2016 2015 Stock options granted during the period $ -0- $ 0.26 Stock options vested during the period $ 0.22 $ 0.18 Stock options forfeited during the period $ 0.11 $ 0.25 A summary of the status of the Company’s non-vested shares underlying stock options as of June 30, 2016, and changes during the six month period ended June 30, 2016 is as follows: Shares underlying stock options Weighted average grant date fair value Nonvested shares at 250,000 $ 0.22 Nonvested shares at 137,500 $ 0.22 As of June 30, 2016, approximately $17,927 of total unrecognized compensation cost related to unvested stock options is expected to be recognized over a weighted-average period of 0.9 years. |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 6 Months Ended |
Jun. 30, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 1 4 : SUBSEQUENT EVENTS Subsequent to June 30, 2016 the Company repaid $200,000 on its revolving Line of Credit. Subsequent to June 30, 2016, one employee exercised options that had been granted to the employee. As a result 3,038 common shares were issued to the employee. |
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 AND PRINCIPLES OF CONSOLIDATION The Company’s accounts include those of all its wholly-owned subsidiaries, which are more fully described in the Company’s 2015 Annual Report filed on Form 10-K with the Securities and Exchange Commission, and have been prepared in conformity with (i) accounting principles generally accepted in the United States of America; and (ii) the rules and regulations of the United States Securities and Exchange Commission. All significant intercompany accounts and transactions between the Company and its subsidiaries have been eliminated in consolidation. |
Consolidation, Policy [Policy Text Block] | UNAUDITED FINANCIAL STATEMENTS The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, pursuant to the rules and regulations of the Securities and Exchange Commission. Pursuant to such rules and regulations, certain financial information and footnote disclosures normally included in the consolidated financial statements have been condensed or omitted. The results for the periods indicated are unaudited, but reflect all adjustments (consisting only of normally recurring adjustments) which management considers necessary for a fair presentation of operating results. The operating results for the six month period ended June 30, 2016 are not necessarily indicative of the results that may be expected for the year-ended December 31, 2016. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year-ended December 31, 2015. |
Use of Estimates, Policy [Policy Text Block] | ESTIMATES IN FINANCIAL STATEMENTS The preparation of the unaudited condensed consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes thereto. Significant estimates incorporated in our financial statements include the recorded allowance for doubtful accounts, the estimate of the appropriate amortization period of our intangible assets, the evaluation of whether our intangible assets have suffered any impairment, the allocation of revenues under multiple-element customer contracts, royalty-based patent liabilities, the value of derivatives associated with debt issued by the Company and the valuation of any corresponding discount to the issuance of our debt. Actual results may differ from those estimates. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications have been made in the 2015 financial statements to conform to the 2016 presentation. These reclassifications did not have any effect on our net income/(loss) or shareholders’ deficit. |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | foreign currency translation The financial statements of the Company’s foreign subsidiaries are translated in accordance with Accounting Standards Codification (“ASC”) 830-30, Foreign Currency Matters—Translation of Financial Statements |
Revenue Recognition, Policy [Policy Text Block] | REVENUE RECOGNITION POLICY The Company derives revenues from software licenses and services of its EDC products and services which can be purchased on a stand-alone basis. License revenues are derived principally from the sale of term licenses for the following software products offered by the Company: TrialMaster, TrialOne , eClinical Suite Promasys. TrialMaster eClinical Suite The Company recognizes revenues when all of the following conditions are satisfied: (1) there is persuasive evidence of an arrangement; (2) the product or service has been provided to the customer; (3) the collection of fees is probable; and (4) the amount of fees to be paid by the customer is fixed or determinable. The Company operates in one reportable segment which is the delivery of EDC Software and services to clinical trial sponsors. The Company segregates its revenues based on the activity cycle used to generate its revenues. Accordingly, revenues are currently generated through four main activities , including hosted applications, licensing, professional services and maintenance-related services. Hosted Application Revenues The Company offers its TrialMaster eClinical Suite TrialOne Promasys TrialMaster eClinical Suite Revenues resulting from TrialMaster eClinical Suite Fees charged for the trial system design, set up and implementation are amortized and recognized ratably over the estimated hosting period. Work performed outside the original scope of work is contracted for separately as an additional fee and is generally recognized ratably over the remaining term of the hosting period. Fees for the first and third stages of the service are typically billed based upon milestones. Revenues earned upon completion of a contractual milestone are deferred and recognized over the estimated remaining hosting period. Fees for application hosting and related services in the second stage are generally billed monthly or quarterly in advance. Revenues resulting from hosting services for the eClinical Suite Licensing Revenues The Company's software license revenues are earned from the sale of off-the-shelf software. From time-to-time a client might require significant modification or customization subsequent to delivery to the customer. The Company generally enters into software term licenses for its EDC Software products with its customers for three to five year periods, although customers have entered into both longer and shorter term license agreements. These arrangements typically include multiple elements: software license, consulting services and customer support. The Company bills its customers in accordance with the terms of the underlying contract. Generally, the Company bills license fees in advance for each billing cycle of the license term, which typically is either on a quarterly or annual basis. Payment terms are generally net 30 days. The Company has sold perpetual licenses for EDC Software products in certain situations to existing customers with the option to purchase customer support, and may, in the future, do so for new customers based on customer requirements or market conditions. The Company has established vendor specific objective evidence of fair value for the customer support. Accordingly, license revenues are recognized upon delivery of the software and when all other revenue recognition criteria are met. Customer support revenues are recognized ratably over the term of the underlying support arrangement. The Company generates customer support and maintenance revenues from its perpetual license customer base. Professional Services The Company may also enter into arrangements to provide consulting services separate from a license arrangement. In these situations, revenue is recognized on a time-and-materials basis. Professional services can be deemed to be as essential to the functionality of the software at inception and typically are for initial trial configuration, implementation planning, loading of software, building simple interfaces, running test data and documentation of procedures. Subsequent additions or extensions to license terms do not generally include additional professional services. Pass-through Revenue and Expense The Company accounts for pass-through revenue and expense in accordance with ASC 605-45, Principal Agent Considerations Maintenance Revenues Maintenance includes telephone-based help desk support and software maintenance. The Company generally bundles customer support with the software license for the entire term of the arrangement. As a result, the Company generally recognizes revenues for both maintenance and software licenses ratably over the term of the software license and support arrangement. The Company allocates the revenues recognized for these arrangements to the different elements based on management's estimate of the relative fair value of each element. The Company generally invoices each of the elements based on separately quoted amounts and thus has a fairly accurate estimate of the relative fair values of each of the invoiced revenue elements. The fees associated with each business activity for the periods ended June 30, 2016 and June 30, 2015, respectively are: For the six months ended Revenue activity June 30, 2016 June 30, 2015 Set-up fees $ 3,312,733 $ 2,882,153 Change orders 669,899 354,808 Maintenance 2,337,965 2,501,407 Software licenses 2,202,288 1,527,374 Professional services 1,398,136 1,924,967 Hosting 539,978 482,317 Total $ 10,460,999 $ 9,673,026 For the three months ended Revenue activity June 30, 2016 June 30, 2015 Set-up fees $ 1,793,399 $ 1,617,609 Change orders 392,146 212,767 Maintenance 1,136,745 1,269,530 Software licenses 1,001,374 786,437 Professional services 745,816 707,970 Hosting 234,008 240,586 Total $ 5,303,488 $ 4,834,899 |
Cost of Sales, Policy [Policy Text Block] | COST OF REVENUES Cost of revenues primarily consists of costs related to hosting, maintaining and supporting the Company’s application suite and delivering professional services and support. These costs include salaries, benefits, and bonuses for the Company’s professional services staff. Cost of revenues also includes outside service provider costs . |
Cash and Cash Equivalents, Policy [Policy Text Block] | CASH AND CASH EQUIVALENTS Cash equivalents consist of highly liquid, short-term investments with maturities of 90 days or less. The carrying amount reported in the accompanying consolidated balance sheets approximates fair value. |
Receivables, Policy [Policy Text Block] | ACCOUNTS RECEIVABLE Accounts receivable are judged as to collectability by management and an allowance for bad debts is established as necessary. The allowance is based on an evaluation of the collectability of accounts receivable and prior bad debt experience. The Company had recorded an allowance for uncollectible accounts receivable of $125,593 as of June 30, 2016 and $116,834 as of December 31, 2015, respectively. June 30, 2016 December 31, 2015 Beginning of period $ 116,834 $ 186,085 Bad debt expense 33,307 14,939 Write-offs (24,548 ) (84,190 ) End of period $ 125,593 $ 116,834 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Cash and cash equivalents and restricted cash are deposited with major financial institutions and, at times, such balances with any one financial institution may be in excess of FDIC-insured limits. As of June 30, 2016, $560,865 was deposited in excess of FDIC-insured limits. Management believes the risk in these situations to be minimal. Except as follows, the Company has no significant off-balance-sheet risk or credit risk concentrations. Financial instruments that subject the Company to potential credit risks are principally cash equivalents and accounts receivable. Concentrated credit risk with respect to accounts receivable is limited to creditworthy customers. The Company's customers are principally located in the United States and Europe as well as in East Asia. The Company is directly affected by the overall financial condition of the pharmaceutical, biotechnology and medical device industries and management believes that credit risk exists and that any credit risk the Company faces has been adequately reserved for as of June 30, 2016. The Company maintains an allowance for doubtful accounts based on accounts past due according to contractual terms and historical collection experience. Actual losses , when incurred , are charged to the allowance. The Company's losses related to collection of accounts receivable have consistently been within management's expectations. As of June 30, 2016, the Company believes no additional credit risk exists beyond the amounts provided for in our allowance for uncollectible accounts. The Company evaluates its allowance for uncollectable accounts on a quarterly basis based on a specific review of receivable aging and the period that any receivables are beyond the standard payment terms. The Company does not require collateral from its customers in order to mitigate credit risk. One customer accounted for 20% of our revenues during the six month period ended June 30, 2016 or approximately $2,102,000. One customer accounted for 13% of our revenues during the six month period ended June 30, 2015 or approximately $1,249,000. The following table summarizes the number of customers who individually comprise greater than 10% of total revenue and/or total accounts receivable and their aggregate percentage of the Company's total revenue and gross accounts receivable for the periods presented. Revenues Accounts receivable For the period ended Number of customers Percentage of total revenues Number of customers Percentage of a ccounts receivable June 30, 2016 1 20% 1 13% December 31, 2015 1 16% 3 42% June 30, 2015 1 13% 2 31% The table below provides revenues from European customers for the six month periods ended June 30, 2016 and June 30, 2015, respectively. European revenues For the six months ended June 30, 2016 June 30, 2015 European revenues % of Total revenues European revenues % of Total revenues $ 899,293 9% $ 1,084,178 11% The Company serves all of its hosting customers from third-party web hosting facilities located in the United States. The Company does not control the operation of these facilities, and they are vulnerable to damage or interruption. The Company maintains redundant systems that can be used to provide service in the event the third-party web hosting facilities become unavailable, although in such circumstances, the Company's service may be interrupted during the transition. |
Property, Plant and Equipment, Policy [Policy Text Block] | PROPERTY AND EQUIPMENT Property and equipment are recorded at cost. Additions and betterments are capitalized; maintenance and repairs are expensed as incurred. Depreciation is calculated using the straight-line method over the asset’s estimated useful life, which is 5 years for leasehold improvements, computers, equipment and furniture and 3 years for software. Gains or losses on disposal are charged to operations. |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | ASSET IMPAIRMENT Acquisitions and Intangible Assets We account for acquisitions in accordance with ASC 805, Business Combinations ASC 350, Intangibles- Goodwill and Other The judgments that we make in determining the estimated fair value assigned to each class of assets acquired and liabilities assumed, as well as asset lives, can materially impact net income in periods following an asset acquisition. We generally use either the income, cost or market approach to aid in our conclusions of such fair values and asset lives. The income approach presumes that the value of an asset can be estimated by the net economic benefit to be received over the life of the asset, discounted to present value. The cost approach presumes that an investor would pay no more for an asset than its replacement or reproduction cost. The market approach estimates value based on what other participants in the market have paid for reasonably similar assets. Although each valuation approach is considered in valuing the assets acquired, the approach ultimately selected is based on the characteristics of the asset and the availability of information. Long-lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the related carrying amounts may not be recoverable. Determining whether an impairment has occurred typically requires various estimates and assumptions, including determining which cash flows are directly related to the potentially impaired asset, the useful life over which cash flows will occur, their amount and the asset’s residual value, if any. In turn, measurement of an impairment loss requires a determination of fair value, which is based on the best information available. We use quoted market prices when available and independent appraisals and management estimates of future operating cash flows, as appropriate, to determine fair value. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | FAIR VALUE MEASUREMENT OmniComm’s capital structure includes the use of warrants and convertible debt features that are classified as derivative financial instruments. Derivative financial instruments are recognized as either assets or liabilities and are measured at fair value under ASC 815 , Derivatives and Hedging . , Fair Value Measurements and Disclosures |
Revenue Recognition, Deferred Revenue [Policy Text Block] | DEFERRED REVENUE Deferred revenue represents cash advances and amounts in accounts receivable as of the balance sheet date received in excess of revenue earned on on-going contracts. Payment terms vary with each contract but may include an initial payment at the time the contract is executed, with future payments dependent upon the completion of certain contract phases or targeted milestones. In the event of contract cancellation, the Company is generally entitled to payment for all work performed through the point of cancellation. As of June 30, 2016, the Company had $9,003,122 in deferred revenues relating to contracts for services to be performed over periods ranging from one month to 5 years. The Company had $6,498,382 in deferred revenues that are expected to be recognized in the next twelve fiscal months. |
Advertising Costs, Policy [Policy Text Block] | ADVERTISING Advertising costs are expensed as incurred. Advertising costs were approximately $432,837 and $406,502 for the six month periods ended June 30, 2016 and June 30, 2015, respectively and are included under selling, general and administrative expenses in our unaudited condensed consolidated financial statements. |
Research, Development, and Computer Software, Policy [Policy Text Block] | RESEARCH AND DEVELOPMENT EXPENSES Software development costs are expensed as incurred. ASC 985-20, Software Industry Costs of Software to Be Sold, Leased or Marketed |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | EMPLOYEE EQUITY INCENTIVE PLANS The OmniComm Systems, Inc. 2016 Equity Incentive Plan (the “2016 Plan”) was approved at our Annual Meeting of Shareholders on June 16, 2016. The 2016 Plan provides for the issuance of up to 10,000,000 shares of our common stock. In addition, the number of shares of common stock available for issuance under the 2016 Plan shall automatically increase on January 1st of each year for a period of nine (9) years commencing on January 1, 2017 and ending on (and including) January 1, 2025, in an amount equal to five percent (5%) of the total number of shares authorized under the 2016 Plan . The predecessor plan, the OmniComm Systems, Inc. 2009 Equity Incentive Plan (the “2009 Plan”) was approved at our Annual Meeting of Shareholders on July 10, 2009 and terminated on June 16, 2016 upon the approval of the 2016 Plan. The 2009 Plan provided for the issuance of up to 7,500,000 shares to employees, directors and key consultants. The 2016 and 2009 Plans are more fully described in “Note 13, Employee Equity Incentive Plans”. The Company accounts for its employee equity incentive plans under Compensation – Stock Compensation |
Earnings Per Share, Policy [Policy Text Block] | EARNINGS PER SHARE The Company accounts for Earnings per Share using ASC 260, Earnings per Share, . Unlike diluted earnings per share basic earnings per share excludes any dilutive effects of options, warrants, and convertible securities. |
Income Tax, Policy [Policy Text Block] | INCOME TAXES The Company accounts for income taxes in accordance with ASC 740, Income Taxes . Valuation allowances are established , when necessary , to reduce deferred tax assets to the estimated amount to be realized. Income tax expense represents the tax payable for the current period and the change during the period in the deferred tax assets and liabilities. |
New Accounting Pronouncements, Policy [Policy Text Block] | IMPACT OF NEW ACCOUNTING STANDARDS During the first six months of 2016, we adopted the following new accounting pronouncements: In February 2016, the FASB issued accounting standard update (“ASU”) No. 2016-02, “Leases (Topic 842)” In March 2016, the FASB issued ASU No. 2016-09 , “Compensation – Stock Compensation (Topic 718)”, guidance which simplifies several aspects of the accounting for employee share-based payment transactions, including the accounting for income taxes, forfeitures, and statutory tax withholding requirements, as well as classification in the statement of cash flows. This guidance is effective for annual periods beginning after December 15, 2016, including interim periods within those annual reporting periods. Early adoption is permitted. We are currently evaluating the full impact of the new standard. Accounting standards-setting organizations frequently issue new or revised accounting rules. We regularly review all new pronouncements to determine their impact, if any, on our financial statements. |
Note 2 - Summary of Significa23
Note 2 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Revenue Recognition, Multiple-deliverable Arrangements [Table Text Block] | For the six months ended Revenue activity June 30, 2016 June 30, 2015 Set-up fees $ 3,312,733 $ 2,882,153 Change orders 669,899 354,808 Maintenance 2,337,965 2,501,407 Software licenses 2,202,288 1,527,374 Professional services 1,398,136 1,924,967 Hosting 539,978 482,317 Total $ 10,460,999 $ 9,673,026 For the three months ended Revenue activity June 30, 2016 June 30, 2015 Set-up fees $ 1,793,399 $ 1,617,609 Change orders 392,146 212,767 Maintenance 1,136,745 1,269,530 Software licenses 1,001,374 786,437 Professional services 745,816 707,970 Hosting 234,008 240,586 Total $ 5,303,488 $ 4,834,899 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | June 30, 2016 December 31, 2015 Beginning of period $ 116,834 $ 186,085 Bad debt expense 33,307 14,939 Write-offs (24,548 ) (84,190 ) End of period $ 125,593 $ 116,834 |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Revenues Accounts receivable For the period ended Number of customers Percentage of total revenues Number of customers Percentage of a ccounts receivable June 30, 2016 1 20% 1 13% December 31, 2015 1 16% 3 42% June 30, 2015 1 13% 2 31% |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | European revenues For the six months ended June 30, 2016 June 30, 2015 European revenues % of Total revenues European revenues % of Total revenues $ 899,293 9% $ 1,084,178 11% |
Note 3 - Earnings (Loss) Per 24
Note 3 - Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Anti-dilutive security June 30, 2016 June 30, 2015 Preferred stock -0- 2,750,149 Employee stock options 982,500 1,563,793 Warrants 27,860,000 52,263,517 Convertible notes 15,910,000 13,850,000 Shares issuable for accrued interest 150,016 875,009 Total 44,902,516 71,302,468 |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the six months ended June 30, 2016 June 30, 2015 Income/(loss) numerator Shares denominator Per-share amount Income/(loss) numerator Shares denominator Per-share amount Basic EPS $ (2,874,076 ) 144,029,335 $ (0.02 ) $ 1,821,485 91,999,079 $ 0.02 Effect of dilutive securities -0- -0- -0- (387,828 ) 11,713,707 (0.03 ) Diluted EPS $ (2,874,076 ) 144,029,335 $ (0.02 ) $ 1,433,657 103,712,786 $ 0.01 For the three months ended June 30, 2016 June 30, 2015 Income/(loss) numerator Shares denominator Per-share amount Income/(loss) numerator Shares denominator Per-share amount Basic EPS $ (1,995,246 ) 146,978,378 $ (0.01 ) $ 4,627,529 92,350,506 $ 0.05 Effect of dilutive securities -0- -0- -0- (1,460,161 ) 28,313,856 (0.05 ) Diluted EPS $ (1,995,246 ) 146,978,378 $ (0.01 ) $ 3,167,368 120,664,362 $ 0.03 |
Note 4 - Property and Equipme25
Note 4 - Property and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2016 December 31, 2015 Cost Accumulated depreciation Net book value Cost Accumulated depreciation Net book value Estimated useful life (years) Computer & office equipment $ 2,105,691 $ 1,683,685 $ 422,006 $ 2,055,956 $ 1,605,473 $ 450,483 5 Leasehold improvements 105,929 87,105 18,824 91,452 85,895 5,557 5 Computer software 1,884,873 1,671,897 212,976 1,843,483 1,621,492 221,991 3 Office furniture 159,292 109,299 49,993 111,660 105,979 5,681 5 Total $ 4,255,785 $ 3,551,986 $ 703,799 $ 4,102,551 $ 3,418,839 $ 683,712 |
Note 5 - Intangible Assets, N26
Note 5 - Intangible Assets, Net (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, 2016 December 31, 2015 Asset Cost Accumulated amortization Net book value Cost Accumulated amortization Net book value Estimated useful life (years) eClinical Suite customer lists $ 1,392,701 $ 1,392,701 $ -0- $ 1,392,701 $ 1,392,701 $ -0- 3 Promasys B.V. customer lists 110,314 19,611 90,703 108,051 15,607 92,444 15 Promasys B.V. software code 72,837 38,846 33,991 72,837 31,563 41,274 5 Promasys B.V. URLs/Website 55,714 49,524 6,190 54,572 39,413 15,159 3 Total $ 1,631,566 $ 1,500,682 $ 130,884 $ 1,628,161 $ 1,479,284 $ 148,877 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2016 $ 17,151 2017 21,922 2018 19,494 2019 7,354 2020 7,354 Thereafter 57,609 Total $ 130,884 |
Note 6 - Accounts Payable and27
Note 6 - Accounts Payable and Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | Account June 30, 2016 December 31, 2015 Accounts payable $ 712,580 $ 515,764 Accrued payroll and related costs 583,534 473,108 Other accrued expenses 141,306 105,562 Accrued interest 220,511 862,836 Total accounts payable and accrued expenses $ 1,657,931 $ 1,957,270 |
Note 7 - Line of Credit, Note28
Note 7 - Line of Credit, Notes Payable and Liquidity (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Ending Non related party Related party Origination date Maturity Interest rate principal June 30, 2016 Current Long term Current Long term 4/1/2015 4/1/2018 12% $ 20,000 $ -0- $ -0- $ -0- $ 20,000 2/29/2016 4/1/2019 12% 450,000 -0- -0- -0- 450,000 6/30/2016 4/1/2020 10% 420,000 -0- 420,000 -0- -0- 6/30/2016 4/1/2020 12% 372,500 -0- 372,500 -0- -0- Discount on notes payable -0- (525,329 ) -0- (290,478 ) Total $ 1,262,500 $ -0- $ 267,171 $ -0- $ 179,522 Ending Non related party Related party Origination date Maturity date Interest rate principal December 31, 2015 Current Long term Current Long term 4/4/2014 4/1/2017 12% $ 45,000 $ -0- $ 45,000 $ -0- $ -0- 4/4/2014 4/1/2017 12% 137,500 -0- 137,500 -0- -0- 4/4/2014 4/1/2017 10% 120,000 -0- 120,000 -0- -0- 12/1/2014 4/1/2017 10% 300,000 -0- 300,000 -0- -0- 12/1/2014 4/1/2017 12% 90,000 -0- 90,000 -0- -0- 12/1/2014 4/1/2017 12% 100,000 -0- 100,000 -0- -0- 4/1/2015 4/1/2018 12% 20,000 -0- -0- -0- 20,000 Discount on notes payable -0- -0- -0- -0- Total $ 812,500 $ -0- $ 792,500 $ -0- $ 20,000 |
Note 8 - Convertible Notes Pa29
Note 8 - Convertible Notes Payable (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Convertible Debt [Member] | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | Carrying amount Date of Maturity Interest Original Principal at Short term Long term issuance date rate principal June 30, 2016 Related Non related Related Non related 8/1/1999 6/30/2004 10% $ 862,500 $ 75,000 $ -0- $ 75,000 $ -0- $ -0- 8/29/2008 4/1/2018 10% 150,000 150,000 -0- -0- -0- 150,000 8/29/2008 4/1/2020 10% 2,120,000 1,770,000 -0- -0- 1,770,000 -0- 12/16/2008 4/1/2018 12% 375,000 375,000 -0- -0- -0- 375,000 12/16/2008 4/1/2018 12% 25,000 25,000 -0- -0- 25,000 -0- 12/16/2008 4/1/2020 12% 100,000 100,000 -0- -0- -0- 100,000 12/16/2008 4/1/2020 12% 4,570,000 4,055,000 -0- -0- 4,055,000 -0- 9/30/2009 4/1/2018 12% 100,000 100,000 -0- -0- -0- 100,000 9/30/2009 4/1/2020 12% 1,300,000 625,000 -0- -0- -0- 625,000 Total $ 9,602,500 $ 7,275,000 $ -0- $ 75,000 $ 5,850,000 $ 1,350,000 Carrying amount Date of Maturity Interest Original Principal at Short term Long term issuance date rate principal December 31, 2015 Related Non related Related Non related 8/1/1999 6/30/2004 10% $ 862,500 $ 75,000 $ -0- $ 75,000 $ -0- $ -0- 8/29/2008 4/1/2017 10% 150,000 150,000 -0- -0- -0- 150,000 8/29/2008 4/1/2017 10% 2,120,000 1,770,000 -0- -0- 1,770,000 -0- 12/16/2008 4/1/2017 12% 260,000 260,000 -0- -0- -0- 260,000 12/16/2008 4/1/2017 12% 4,570,000 4,055,000 -0- -0- 4,055,000 -0- 12/16/2008 4/1/2018 12% 215,000 215,000 -0- -0- -0- 215,000 12/16/2008 4/1/2018 12% 25,000 25,000 -0- -0- 25,000 -0- 9/30/2009 4/1/2017 12% 1,300,000 625,000 -0- -0- -0- 625,000 9/30/2009 4/1/2018 12% 100,000 100,000 -0- -0- -0- 100,000 Total $ 9,602,500 $ 7,275,000 $ -0- $ 75,000 $ 5,850,000 $ 1,350,000 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2016 $ 75,000 2017 -0- 2018 650,000 2019 -0- 2020 6,550,000 Total $ 7,275,000 |
Note 9 - Fair Value Measureme30
Note 9 - Fair Value Measurement (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Fair value at June 30, 2016 Quoted prices in active markets for identical assets/ liabilities (Level 1) Significant other observable inputs (Level 2) Significant unobservable inputs (Level 3) Derivatives: (1) (2) Conversion feature liability $ 2,313,328 $ -0- $ -0- $ 2,313,328 Warrant liability 3,812,690 -0- -0- 3,812,690 Total of derivative liabilities $ 6,126,018 $ -0- $ -0- $ 6,126,018 Fair value at Quoted prices in active markets for identical assets/ liabilities Significant other observable inputs Significant unobservable inputs December 31, 2015 (Level 1) (Level 2) (Level 3) Derivatives: (1) (2) Conversion feature liability $ 901,243 $ -0- $ -0- $ 901,243 Warrant liability 1,914,923 -0- -0- 1,914,923 Total of derivative liabilities $ 2,816,166 $ -0- $ -0- $ 2,816,166 |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | Significant valuation assumptions for derivative instruments at June 30, 2016 Risk free interest rate 0.56% to 0.92% Dividend yield 0.00% Expected volatility 106.3% to 139.4% Expected life (range in years) Conversion feature liability 1.75 to 3.76 Warrant liability 0.75 to 3.76 Significant valuation assumptions for derivative instruments at December 31, 2015 Risk free interest rate 0.48% to 1.2% Dividend yield 0.00% Expected volatility 91.0% to 132.2% Expected life (range in years) Conversion feature liability 1.25 to 2.25 Warrant liability 0.00 to 3.01 |
Fair Value Measurements, Nonrecurring [Table Text Block] | Carrying amount Carrying amount Quoted prices in active markets for identical assets/ liabilities Significant other observable inputs Significant unobservable inputs December 31, 2015 June 30, 2016 (Level 1) (Level 2) (Level 3) Acquired assets (3) Promasys B.V. customer list (4) $ 92,444 $ 90,703 $ -0- $ -0- $ 136,253 Promasys B.V. software code (4) 41,274 33,991 -0- -0- 72,943 Promasys B.V. URLs/website (4) 15,159 6,190 -0- -0- 68,814 Total $ 148,877 $ 130,884 $ -0- $ -0- $ 278,010 |
Fair Value, Measured on Recurring Basis, Gain (Loss) Included in Earnings [Table Text Block] | Other income/(expense) For the six months ended June 30, 2016 June 30, 2015 The net amount of gains/(losses) for the period included in earnings attributable to the unrealized gain/(losses) from changes in derivative liabilities at the reporting date $ (2,458,836 ) $ 4,072,798 Total unrealized gains/(losses) included in earnings $ (2,458,836 ) $ 4,072,798 |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | Level 3 financial liabilities at fair value For the six months ended Balance, beginning Net realized Net unrealized instruments held at the Net purchases, Net transfers Balance, end of June 30, 2016 of year gains/(losses) reporting date settlements in and/or out period Derivatives: Conversion feature liability $ (901,243 ) $ -0- $ (1,412,085 ) $ -0- $ -0- $ (2,313,328 ) Warrant liability (1,914,923 ) -0- (1,046,751 ) (851,016 ) -0- (3,812,690 ) Total of derivative liabilities $ (2,816,166 ) $ -0- $ (2,458,836 ) $ (851,016 ) $ -0- $ (6,126,018 ) Level 3 financial liabilities at fair value For the year ended Balance, beginning Net realized Net unrealized instruments held at the Net and Net transfers Balance, December 31, 2015 of year gains/(losses) reporting date settlements in and/or out year Derivatives: Conversion feature liability $ (2,944,402 ) $ 29,875 $ 2,013,284 $ -0- $ -0- $ (901,243 ) Warrant liability (6,695,060 ) -0- 2,482,639 (868,128 ) 3,165,626 (1,914,923 ) Total of derivative liabilities $ (9,639,462 ) $ 29,875 $ 4,495,923 $ (868,128 ) $ 3,165,626 $ (2,816,166 ) |
Note 10 - Commitments and Con31
Note 10 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule Of Minimum Royalty Payments [Table Text Block] | 2016 $ 396,069 2017 662,992 2018 512,421 2019 421,230 2020 297,570 Thereafter 580,512 Total $ 2,870,794 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | 2016 $ 225,000 2017 450,000 2018 164,500 Total $ 839,500 |
Note 12 - Stockholders' (Defi32
Note 12 - Stockholders' (Deficit) (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Warrant [Member] | |
Notes Tables | |
Schedule of Share-based Compensation, Activity [Table Text Block] | Warrants Balance at December 31, 2014 48,463,517 Issued 3,800,000 Exercised -0- Cancelled (29,363,517 ) Expired/forfeited -0- Balance at December 31, 2015 22,900,000 Issued 4,970,000 Exercised -0- Expired/forfeited (10,000 ) Balance at June 30, 2016 27,860,000 Warrants exercisable at June 30, 2016 27,860,000 Weighted average fair value of warrants granted during 2016 $ 0.15 |
Schedule Of Dividends In Arrears [Table Text Block] | Cumulative arrearage as of Cumulative arrearage per share as of June 30, June 30, Series of preferred stock 2016 2015 2016 2015 Series A $ -0- $ 2,688,984 $ -0- $ 0.65 Series B 609,887 609,887 $ 3.05 $ 3.05 Series C 1,472,093 1,472,093 $ 4.37 $ 4.37 Total preferred stock arrearage $ 2,081,980 $ 4,770,964 |
Schedule of Dividends Payable [Table Text Block] | Dividends accreted Dividends per share For the six months ended For the six months ended June 30, June 30, 2016 2015 2016 2015 Preferred stock dividends in arrears Series A $ 1,870 $ 102,283 $ 0.012 $ 0.025 Preferred stock dividends in arrears Series B $ -0- $ -0- $ -0- $ -0- Preferred stock dividends in arrears Series C $ -0- $ -0- $ -0- $ -0- |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | June 30, 2016 June 30, 2016 Warrants outstanding Warrants exercisable Range of exercise price Number outstanding Weighted average contractual life Weighted average price Number exercisable Weighted average price $0.25 – $0.60 27,860,000 3.21 $ 0.42 27,860,000 $ 0.42 December 31, 2015 December 31, 2015 Warrants outstanding Warrants exercisable Range of exercise price Number outstanding Weighted average remaining contractual life Weighted average Number exercisable Weighted average $0.25 – $0.60 22,900,000 1.76 $ 0.46 22,900,000 $ 0.46 |
Schedule of Share-based Compensation, Activity [Table Text Block] | Weighted average grant date fair value for the six months ended June 30, 2016 2015 Stock options granted during the period $ -0- $ 0.26 Stock options vested during the period $ 0.22 $ 0.18 Stock options forfeited during the period $ 0.11 $ 0.25 |
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | Foreign currency translation Accumulated other comprehensive (loss) Balance at December 31, 2014 $ (243,827 ) $ (243,827 ) 2015 Activity (122,528 ) (122,528 ) Balance at December 31, 2015 (366,355 ) (366,355 ) 2016 Activity (17,787 ) (17,787 ) Balance at June 30, 2016 $ (384,142 ) $ (384,142 ) |
Note 13 - Employee Equity Inc33
Note 13 - Employee Equity Incentive Plans (Tables) | 6 Months Ended |
Jun. 30, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of options Weighted average exercise price (per share) Weighted average remaining contractual term (in years) Aggregate intrinsic value Outstanding at December 31, 2014 3,130,000 $ 0.20 1.59 $ 364,900 Granted 225,000 0.25 Exercised (292,500 ) 0.12 Forfeited/cancelled/expired (1,060,000 ) 0.35 Outstanding at December 31, 2015 2,002,500 0.14 1.40 $ 198,990 Granted -0- -0- Exercised (1,012,500 ) 0.13 Forfeited/cancelled/expired (7,500 ) 0.13 Outstanding at June 30, 2016 982,500 $ 0.16 1.99 $ 57,088 Vested and exercisable at June 30, 2016 845,000 $ 0.15 1.70 $ 54,938 |
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding [Table Text Block] | Fair value of options vesting for the six months ended Number of options vested Fair value of options vested June 30, 2016 112,500 $ 25,153 June 30, 2015 125,000 $ 22,235 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Awards breakdown by price range at June 30, 2016 Outstanding Vested Strike price range ($) Outstanding stock options Weighted average remaining contractual life Weighted average outstanding strike price Vested stock options Weighted average remaining vested contractual life Weighted average vested strike price 0.00 to 0.20 757,500 1.72 $ 0.13 682,500 1.48 $ 0.13 0.21 to 0.29 125,000 2.33 0.22 112,500 2.17 0.21 0.30 to 0.49 100,000 3.67 0.30 50,000 3.67 0.30 0.50 to 0.70 -0- 0.00 0.00 -0- 0.00 0.00 0.00 to 0.70 982,500 1.99 $ 0.16 845,000 1.70 $ 0.15 Awards breakdown by price range at December 31, 2015 Outstanding Vested Strike price range ($) Outstanding stock options Weighted average remaining contractual life Weighted average outstanding strike price Vested stock options Weighted average remaining vested contractual life Weighted average vested strike price 0.00 to 0.20 1,777,500 1.14 $ 0.13 1,652,500 0.93 $ 0.13 0.21 to 0.29 125,000 2.83 0.22 100,000 2.46 0.21 0.30 to 0.49 100,000 4.17 0.30 -0- 0.00 0.00 0.50 to 0.70 -0- 0.00 0.00 -0- 0.00 0.00 0.00 to 0.70 2,002,500 1.40 $ 0.14 1,752,500 1.02 $ 0.13 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Stock option assumptions for the period ended Stock option assumptions June 30, 2016 December 31, 2015 Risk-free interest rate 1.30% 1.20% Expected dividend yield 0.0% 0.0% Expected volatility 157.6% 183.8% Expected life of options (in years) 5 5 |
Schedule of Share-based Compensation, Activity [Table Text Block] | Weighted average grant date fair value for the six months ended June 30, 2016 2015 Stock options granted during the period $ -0- $ 0.26 Stock options vested during the period $ 0.22 $ 0.18 Stock options forfeited during the period $ 0.11 $ 0.25 |
Schedule of Nonvested Share Activity [Table Text Block] | Shares underlying stock options Weighted average grant date fair value Nonvested shares at 250,000 $ 0.22 Nonvested shares at 137,500 $ 0.22 |
Note 1 - Organization and Nat34
Note 1 - Organization and Nature of Operations (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Research and Development Expense | $ 1,315,525 | $ 1,355,783 |
Note 2 - Summary of Significa35
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Jun. 16, 2016 | Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Jul. 10, 2009 |
Minimum [Member] | |||||||
Term Of Software License | 3 years | ||||||
Derivative, Term of Contract | 30 days | ||||||
Maximum [Member] | |||||||
Term Of Software License | 5 years | ||||||
Derivative, Term of Contract | 5 years | ||||||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Customer 1 [Member] | |||||||
Concentration Risk, Percentage | 20.00% | 13.00% | |||||
Revenues | $ 2,102,000 | $ 1,249,000 | |||||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | |||||||
Concentration Risk, Percentage | 20.00% | 13.00% | 16.00% | ||||
Leasehold Improvements Computers Equipment And Furniture [Member] | |||||||
Property, Plant and Equipment, Useful Life | 5 years | ||||||
Software Development [Member] | |||||||
Property, Plant and Equipment, Useful Life | 3 years | ||||||
The 2016 Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | ||||
Common Stock Available for Issuance Increasing Period | 9 years | ||||||
Common Stock Available for Issuance, Annual Increase Percent | 5.00% | ||||||
Plan 2009 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 7,500,000 | ||||||
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax | $ (14,631) | $ 21,926 | $ (17,787) | $ (83,531) | $ (122,528) | ||
Number of Reportable Segments | 1 | ||||||
Allowance for Doubtful Accounts Receivable, Current | 125,593 | $ 125,593 | 116,834 | ||||
Cash, Uninsured Amount | 560,865 | 560,865 | |||||
Revenues | 5,303,488 | $ 4,834,899 | $ 10,460,999 | 9,673,026 | |||
Property, Plant and Equipment, Useful Life | |||||||
Deferred Revenue | 9,003,122 | $ 9,003,122 | |||||
Deferred Revenue, Current | $ 6,498,382 | 6,498,382 | $ 7,054,614 | ||||
Advertising Expense | 432,837 | 406,502 | |||||
Research and Development Expense | $ 1,315,525 | $ 1,355,783 |
Note 2 - Summary of Significa36
Note 2 - Summary of Significant Accounting Policies - Revenue By Business Activity (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Set Up Fees [Member] | ||||
Revenue | $ 1,793,399 | $ 1,617,609 | $ 3,312,733 | $ 2,882,153 |
Change Orders [Member] | ||||
Revenue | 392,146 | 212,767 | 669,899 | 354,808 |
Maintenance [Member] | ||||
Revenue | 1,136,745 | 1,269,530 | 2,337,965 | 2,501,407 |
Software Licenses [Member] | ||||
Revenue | 1,001,374 | 786,437 | 2,202,288 | 1,527,374 |
Professional Services [Member] | ||||
Revenue | 745,816 | 707,970 | 1,398,136 | 1,924,967 |
Hosting [Member] | ||||
Revenue | 234,008 | 240,586 | 539,978 | 482,317 |
Revenue | $ 5,303,488 | $ 4,834,899 | $ 10,460,999 | $ 9,673,026 |
Note 2 - Summary of Significa37
Note 2 - Summary of Significant Accounting Policies - Allowance for Doubtful Account Summary (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Beginning of period | $ 116,834 | $ 186,085 | $ 186,085 | ||
Bad debt expense | $ 33,455 | $ 14,972 | 33,307 | $ (5,402) | 14,939 |
Write-offs | (24,548) | (84,190) | |||
End of period | $ 125,593 | $ 125,593 | $ 116,834 |
Note 2 - Summary of Significa38
Note 2 - Summary of Significant Accounting Policies - Customer Concentration (Details) - Customer Concentration Risk [Member] | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Sales Revenue, Net [Member] | |||
Number of customers | 1 | 1 | 1 |
Concentration risk, percentage | 20.00% | 13.00% | 16.00% |
Accounts Receivable [Member] | |||
Number of customers | 1 | 2 | 3 |
Concentration risk, percentage | 13.00% | 31.00% | 42.00% |
Note 2 - Summary of Significa39
Note 2 - Summary of Significant Accounting Policies - Revenue From European Operations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Reportable Geographical Components [Member] | Europe [Member] | ||||
Revenue | $ 9 | $ 11 | ||
Europe [Member] | Sales Revenue, Net [Member] | ||||
Concentration risk, percentage | 1084178.00% | |||
Revenue | $ 5,303,488 | $ 4,834,899 | $ 10,460,999 | $ 9,673,026 |
Note 3 - Earnings (Loss) Per 40
Note 3 - Earnings (Loss) Per Share (Details Textual) - $ / shares | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Restricted Stock [Member] | |||||
Common Stock, Shares, Outstanding | 1,943,343 | 2,866,681 | 1,943,343 | 2,866,681 | |
Lower Range Limit [Member] | |||||
Investment Warrants, Exercise Price | $ 0.25 | ||||
Upper Range Limit [Member] | |||||
Investment Warrants, Exercise Price | 0.60 | ||||
Lower Range Limit [Member] | |||||
Debt Instrument, Convertible, Conversion Price | $ 0.25 | 0.25 | |||
Upper Range Limit [Member] | |||||
Debt Instrument, Convertible, Conversion Price | $ 1.25 | $ 1.25 | |||
Weighted Average Number of Shares Outstanding, Basic | 146,978,378 | 92,350,506 | 144,029,335 | 91,999,079 | |
Common Stock, Shares, Outstanding | 147,683,879 | 147,683,879 | 131,703,577 | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 44,902,516 | 71,302,468 | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ 0.045 | ||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ 0.30 |
Note 3 - Earnings (Loss) Per 41
Note 3 - Earnings (Loss) Per Share - Reconciliation of Anti-dilutive Securities (Details) - shares | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Shares Of Preferred Stock [Member] | ||
Anti-dilutive Security (in shares) | 0 | 2,750,149 |
Employee Stock Option [Member] | ||
Anti-dilutive Security (in shares) | 982,500 | 1,563,793 |
Warrant [Member] | ||
Anti-dilutive Security (in shares) | 27,860,000 | 52,263,517 |
Convertible Debt Securities [Member] | ||
Anti-dilutive Security (in shares) | 15,910,000 | 13,850,000 |
Shares Issuable For Accrued Interest [Member] | ||
Anti-dilutive Security (in shares) | 150,016 | 875,009 |
Anti-dilutive Security (in shares) | 44,902,516 | 71,302,468 |
Note 3 - Earnings (Loss) Per 42
Note 3 - Earnings (Loss) Per Share - Computation of Diluted Earnings Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Basic EPS | $ (1,995,246) | $ 4,627,529 | $ (2,874,076) | $ 1,821,485 |
Weighted Average Number of Shares Outstanding, Basic | 146,978,378 | 92,350,506 | 144,029,335 | 91,999,079 |
Basic EPS (in dollars per share) | $ (0.01) | $ 0.05 | $ (0.02) | $ 0.02 |
Effect of dilutive securities | $ 0 | $ (1,460,161) | $ 0 | $ (387,828) |
Effect of dilutive securities (in shares) | 0 | 28,313,856 | 0 | 11,713,707 |
Effect of dilutive securities (in dollars per share) | $ 0 | $ (0.05) | $ 0 | $ (0.03) |
Diluted EPS | $ (1,995,246) | $ 3,167,368 | $ (2,874,076) | $ 1,433,657 |
Diluted EPS (in shares) | 146,978,378 | 120,664,362 | 144,029,335 | 103,712,786 |
Diluted EPS (in dollars per share) | $ (0.01) | $ 0.03 | $ (0.02) | $ 0.01 |
Note 4 - Property and Equipme43
Note 4 - Property and Equipment, Net (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Depreciation | $ 146,577 | $ 108,505 |
Note 4 - Property and Equipme44
Note 4 - Property and Equipment, Net - Property and Equipment (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
Computer And Office Equipment [Member] | ||
Cost | $ 2,105,691 | $ 2,055,956 |
Accumulated Depreciation | 1,683,685 | 1,605,473 |
Net Book Value | $ 422,006 | 450,483 |
Estimated Useful Lives | 5 years | |
Leasehold Improvements [Member] | ||
Cost | $ 105,929 | 91,452 |
Accumulated Depreciation | 87,105 | 85,895 |
Net Book Value | $ 18,824 | 5,557 |
Estimated Useful Lives | 5 years | |
Computer Equipment [Member] | ||
Cost | $ 1,884,873 | 1,843,483 |
Accumulated Depreciation | 1,671,897 | 1,621,492 |
Net Book Value | $ 212,976 | 221,991 |
Estimated Useful Lives | 3 years | |
Furniture and Fixtures [Member] | ||
Cost | $ 159,292 | 111,660 |
Accumulated Depreciation | 109,299 | 105,979 |
Net Book Value | $ 49,993 | 5,681 |
Estimated Useful Lives | 5 years | |
Cost | $ 4,255,785 | 4,102,551 |
Accumulated Depreciation | 3,551,986 | 3,418,839 |
Net Book Value | $ 703,799 | $ 683,712 |
Estimated Useful Lives |
Note 5 - Intangible Assets, N45
Note 5 - Intangible Assets, Net (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | |
Amortization of Intangible Assets | $ 10,164 | $ 10,057 | $ 20,253 | $ 20,237 |
Note 5 - Intangible Assets, N46
Note 5 - Intangible Assets, Net - Intangible Assets (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | |
eClinical Customer List [Member] | ||
Cost | $ 1,392,701 | $ 1,392,701 |
Accumulated Amortization | 1,392,701 | 1,392,701 |
Net Book Value | $ 0 | 0 |
Finite-Lived Intangible Asset, Useful Life | 3 years | |
Promasys B.V. Customer List [Member] | ||
Cost | $ 110,314 | 108,051 |
Accumulated Amortization | 19,611 | 15,607 |
Net Book Value | $ 90,703 | 92,444 |
Finite-Lived Intangible Asset, Useful Life | 15 years | |
Promasys B.V. Software Code [Member] | ||
Cost | $ 72,837 | 72,837 |
Accumulated Amortization | 38,846 | 31,563 |
Net Book Value | $ 33,991 | 41,274 |
Finite-Lived Intangible Asset, Useful Life | 5 years | |
Promasys B.V. URLs/Website [Member] | ||
Cost | $ 55,714 | 54,572 |
Accumulated Amortization | 49,524 | 39,413 |
Net Book Value | $ 6,190 | 15,159 |
Finite-Lived Intangible Asset, Useful Life | 3 years | |
Cost | $ 1,631,566 | 1,628,161 |
Accumulated Amortization | 1,500,682 | 1,479,284 |
Net Book Value | $ 130,884 | $ 148,877 |
Finite-Lived Intangible Asset, Useful Life |
Note 5 - Intangible Assets, N47
Note 5 - Intangible Assets, Net - Intangible Assets, Future Amortization Expense (Details) | Jun. 30, 2016USD ($) |
2,016 | $ 17,151 |
2,017 | 21,922 |
2,018 | 19,494 |
2,019 | 7,354 |
2,020 | 7,354 |
Thereafter | 57,609 |
Total | $ 130,884 |
Note 6 - Accounts Payable and48
Note 6 - Accounts Payable and Accrued Expenses - Accounts Payable and Accrued Expenses (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Accounts payable | $ 712,580 | $ 515,764 |
Accrued payroll and related costs | 583,534 | 473,108 |
Other accrued expenses | 141,306 | 105,562 |
Accrued interest | 220,511 | 862,836 |
Total accounts payable and accrued expenses | $ 1,657,931 | $ 1,957,270 |
Note 7 - Line of Credit, Note49
Note 7 - Line of Credit, Notes Payable and Liquidity (Details Textual) - USD ($) | Jun. 30, 2016 | Feb. 29, 2016 | Dec. 17, 2015 | Nov. 23, 2015 | Nov. 19, 2015 | Oct. 15, 2015 | Jan. 31, 2015 | Mar. 18, 2013 | Dec. 31, 2015 | Apr. 02, 2015 | Feb. 03, 2015 | Dec. 18, 2013 |
Matures April 1, 2020 I [Member] | Investor [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||
Debt Instrument, Face Amount | $ 372,500 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,490,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | |||||||||||
Warrants and Rights Outstanding | $ 246,921 | |||||||||||
Debt Instrument, Fair Value Disclosure | $ 125,579 | |||||||||||
Amortization Period of Warrant Liabilities | 3 years 270 days | |||||||||||
Matures April 1, 2020 II [Member] | Investor [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||
Debt Instrument, Face Amount | $ 420,000 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,680,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | |||||||||||
Warrants and Rights Outstanding | $ 278,408 | |||||||||||
Debt Instrument, Fair Value Disclosure | $ 141,592 | |||||||||||
Amortization Period of Warrant Liabilities | 3 years 270 days | |||||||||||
Matures on April 1, 2019 [Member] | Chief Executive Officer and Director Mr. Wit [Member] | Accrued Interest [Member] | ||||||||||||
Extinguishment of Debt, Amount | $ 450,000 | |||||||||||
Matures on April 1, 2019 [Member] | Chief Executive Officer and Director Mr. Wit [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||
Debt Instrument, Face Amount | $ 450,000 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,800,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | |||||||||||
Warrants and Rights Outstanding | $ 325,689 | |||||||||||
Debt Instrument, Fair Value Disclosure | $ 124,311 | |||||||||||
Amortization Period of Warrant Liabilities | 3 years 30 days | |||||||||||
Note Payable 17 [Member] | Chief Executive Officer and Director Mr. Wit [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||
Debt Instrument, Face Amount | $ 20,000 | |||||||||||
Note Payable 14 [Member] | Chief Executive Officer and Director Mr. Wit [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||
Debt Instrument, Face Amount | $ 529,000 | |||||||||||
Debt Conversion, Converted Instrument, Rate | 12.00% | |||||||||||
Note Payable 15 [Member] | Chief Executive Officer and Director Mr. Wit [Member] | ||||||||||||
Debt Instrument, Face Amount | $ 2,860,000 | |||||||||||
Note Payable 16 [Member] | Chief Executive Officer and Director Mr. Wit [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||
Debt Instrument, Face Amount | $ 950,000 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 3,800,000 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | |||||||||||
Debt Instrument, Repurchase Amount | $ 280,000 | |||||||||||
Interest Payable | 670,000 | |||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | Matures on January 1, 2019 [Member] | ||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 980,000 | |||||||||||
Debt Conversion, Converted Instrument, Rate | 12.00% | |||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | 3,920,000 | |||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | Matures On January 1, 2019 II [Member] | ||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,600,000 | |||||||||||
Debt Conversion, Converted Instrument, Rate | 12.00% | |||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | 6,400,000 | |||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | Matures On January 1, 2019 III [Member] | ||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 529,000 | |||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | 2,116,000 | |||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | Matures On January 1, 2019 IV [Member] | ||||||||||||
Debt Conversion, Converted Instrument, Amount | 2,860,000 | |||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | 11,440,000 | |||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | Matures On January 1, 2019 V [Member] | ||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 950,000 | |||||||||||
Debt Conversion, Converted Instrument, Rate | 12.00% | |||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | 3,800,000 | |||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | Related Warrants [Member] | ||||||||||||
Class of Warrant or Right Cancelled During the Period | 400,000 | |||||||||||
Warrants Sold During the Period | 2,000,000 | 4,000,000 | ||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | Unrelated Warrants [Member] | ||||||||||||
Class of Warrant or Right Cancelled During the Period | 6,000,000 | |||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | ||||||||||||
Class of Warrant or Right Cancelled During the Period | 11,440,000 | |||||||||||
Repayments of Long-term Debt | $ 6,879 | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000 | $ 5,000,000 | $ 4,000,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |||||||||||
Debt Instrument, Periodic Payment, Interest | $ 9,500 | |||||||||||
Long-term Line of Credit | $ 5,000,000 | |||||||||||
Line of Credit Facility, Interest Rate at Period End | 2.50% | |||||||||||
Unsecured Debt | $ 1,262,500 | $ 812,500 | ||||||||||
Debt Instrument, Face Amount | $ 9,602,500 | $ 9,602,500 | ||||||||||
Class of Warrant or Right Cancelled During the Period | 29,363,517 |
Note 7 - Lines of Credit Notes
Note 7 - Lines of Credit Notes Payable, and Liquidity - Notes Payable (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | Mar. 18, 2013 | |
Notes Payable, Matures April 1, 2018 [Member] | Short-term Debt [Member] | Non-Related Party Current [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2018 [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2018 [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | 0 | |
Notes Payable, Matures April 1, 2018 [Member] | Long-term Debt [Member] | Non-Related Party Current [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2018 [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2018 [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 20,000 | $ 20,000 | |
Notes Payable, Matures April 1, 2018 [Member] | |||
Maturity date | Apr. 1, 2018 | Apr. 1, 2018 | |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |
Ending principal | $ 20,000 | $ 20,000 | |
Notes Payable, Matures April 1, 2017 [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 45,000 | ||
Notes Payable, Matures April 1, 2017 [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2017 [Member] | |||
Maturity date | Apr. 1, 2017 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Ending principal | $ 45,000 | ||
Notes Payable, Matures April 1, 2019 [Member] | Short-term Debt [Member] | Non-Related Party Current [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2019 [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2019 [Member] | Long-term Debt [Member] | Non-Related Party Current [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2019 [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 450,000 | ||
Notes Payable, Matures April 1, 2019 [Member] | |||
Maturity date | Apr. 1, 2019 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Ending principal | $ 450,000 | ||
Notes Payable, Matures April 1, 2017 II [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 II [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 II [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 137,500 | ||
Notes Payable, Matures April 1, 2017 II [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2017 II [Member] | |||
Maturity date | Apr. 1, 2017 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Ending principal | $ 137,500 | ||
Notes Payable, Matures April 1, 2020 I [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2020 I [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2020 I [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 420,000 | ||
Notes Payable, Matures April 1, 2020 I [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2020 I [Member] | |||
Maturity date | Apr. 1, 2020 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||
Ending principal | $ 420,000 | ||
Notes Payable, Matures April 1, 2017 III [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 III [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 III [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 120,000 | ||
Notes Payable, Matures April 1, 2017 III [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2017 III [Member] | |||
Maturity date | Apr. 1, 2017 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||
Ending principal | $ 120,000 | ||
Notes Payable, Matures April 1, 2020 II [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2020 II [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2020 II [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 372,500 | ||
Notes Payable, Matures April 1, 2020 II [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2020 II [Member] | |||
Maturity date | Apr. 1, 2020 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Ending principal | $ 372,500 | ||
Notes Payable, Matures April 1, 2017 IV [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 IV [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 IV [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 300,000 | ||
Notes Payable, Matures April 1, 2017 IV [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2017 IV [Member] | |||
Maturity date | Apr. 1, 2017 | ||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||
Ending principal | $ 300,000 | ||
Notes Payable, Matures April 1, 2017 V [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 V [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 V [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 90,000 | ||
Notes Payable, Matures April 1, 2017 V [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2017 V [Member] | |||
Maturity date | Apr. 1, 2017 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Ending principal | $ 90,000 | ||
Notes Payable, Matures April 1, 2017 VI [Member] | Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 VI [Member] | Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | ||
Notes Payable, Matures April 1, 2017 VI [Member] | Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 100,000 | ||
Notes Payable, Matures April 1, 2017 VI [Member] | Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | $ 0 | ||
Notes Payable, Matures April 1, 2017 VI [Member] | |||
Maturity date | Apr. 1, 2017 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Ending principal | $ 100,000 | ||
Short-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 0 | 0 | |
Discount on notes payable | 0 | 0 | |
Short-term Debt [Member] | Related Party [Member] | |||
Ending principal | 0 | 0 | |
Discount on notes payable | 0 | 0 | |
Long-term Debt [Member] | Non-Related Party [Member] | |||
Ending principal | 267,171 | 792,500 | |
Discount on notes payable | (525,329) | 0 | |
Long-term Debt [Member] | Related Party [Member] | |||
Ending principal | 179,522 | 20,000 | |
Discount on notes payable | (290,478) | 0 | |
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ||
Ending principal | 1,262,500 | 812,500 | |
Discount on notes payable |
Note 8 - Convertible Notes Pa51
Note 8 - Convertible Notes Payable (Details Textual) - USD ($) | Nov. 23, 2015 | Nov. 19, 2015 | May 01, 2015 | Mar. 30, 2011 | Dec. 31, 2009 | Sep. 30, 2009 | Dec. 31, 1999 | Dec. 31, 2009 | Aug. 29, 2008 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | Feb. 29, 2016 | May 07, 2015 | Apr. 30, 2015 | Apr. 27, 2015 | Apr. 02, 2015 | Jan. 31, 2015 | Jul. 31, 2014 | Apr. 28, 2014 | Apr. 21, 2014 | Dec. 31, 2013 | Mar. 18, 2013 | Mar. 12, 2013 | Mar. 06, 2013 | Feb. 27, 2013 | Feb. 22, 2013 | Sep. 30, 2011 | Dec. 16, 2008 | Jun. 30, 2008 | Jun. 30, 2004 |
Convertible Notes 10% [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 862,500 | ||||||||||||||||||||||||||||||
Payments of Debt Issuance Costs | 119,625 | ||||||||||||||||||||||||||||||
Proceeds from Issuance of Debt | $ 742,875 | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.25 | ||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 787,500 | ||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,495,179 | ||||||||||||||||||||||||||||||
Long-term Debt, Gross | $ 75,000 | ||||||||||||||||||||||||||||||
Interest Payable | 128,488 | ||||||||||||||||||||||||||||||
Secured Convertible Debenture [Member] | Chief Executive Officer and Director Mr. Wit [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 1,100,000 | ||||||||||||||||||||||||||||||
Secured Convertible Debenture [Member] | Chief Executive Officer and Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 1,100,000 | $ 1,100,000 | |||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.25 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 5,600,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | ||||||||||||||||||||||||||||||
Secured Convertible Debenture [Member] | Lenders [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 625,000 | $ 100,000 | 1,200,000 | ||||||||||||||||||||||||||||
Secured Convertible Debenture [Member] | Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 475,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,900,000 | ||||||||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 475,000 | ||||||||||||||||||||||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | 1,900,000 | ||||||||||||||||||||||||||||||
Increase (Decrease) in Notes Payable, Related Parties | $ 625,000 | ||||||||||||||||||||||||||||||
Secured Convertible Debenture [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 1,200,000 | ||||||||||||||||||||||||||||||
Secured Convertible Debenture [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 1,400,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||||||||||
Proceeds from Issuance of Secured Debt | $ 1,400,000 | ||||||||||||||||||||||||||||||
Repayments of Notes Payable | $ 200,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued August 2008 [Member] | Director Mr. Wit [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 1,770,000 | 1,770,000 | |||||||||||||||||||||||||||||
Convertible Debentures Issued August 2008 [Member] | Chief Officer, Mr. Wit and Mr. Van Kesteren [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.50 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,540,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued August 2008 [Member] | Mr. van Kesteren and Mr. Wit [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 1,920,000 | 150,000 | |||||||||||||||||||||||||||||
Convertible Debentures Issued August 2008 [Member] | Director Mr. van Kesteren [Member] | Extended Maturity Debentures 2 [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 150,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued August 2008 [Member] | Director Mr. van Kesteren [Member] | Non-Related Party [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 150,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued August 2008 [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 2,270,000 | ||||||||||||||||||||||||||||||
Convertible Debentures [Member] | Lenders [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 1,440,000 | ||||||||||||||||||||||||||||||
Convertible Debentures [Member] | Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 510,000 | ||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 510,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 5,760,000 | ||||||||||||||||||||||||||||||
Convertible Debentures [Member] | Chief Officer, Mr. Wit and Mr. Van Kesteren [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 150,000 | ||||||||||||||||||||||||||||||
Convertible Debentures [Member] | Chief Operating Officer [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 25,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||||||||||
Matures April 1, 2020 I [Member] | Director Mr. Wit [Member] | Extended Maturity Debentures 2 [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 1,770,000 | ||||||||||||||||||||||||||||||
Matures April 1, 2020 I [Member] | Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 4,055,000 | ||||||||||||||||||||||||||||||
Matures April 1, 2020 I [Member] | Investor [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,490,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | ||||||||||||||||||||||||||||||
Notes Payable, Matures April 1, 2018 [Member] | Chief Officer, Mr. Wit and Mr. Van Kesteren [Member] | Extended Maturity Debentures 2 [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 150,000 | ||||||||||||||||||||||||||||||
Notes Payable, Matures April 1, 2018 [Member] | Chief Officer, Mr. Wit and Mr. Van Kesteren [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 160,000 | ||||||||||||||||||||||||||||||
Notes Payable, Matures April 1, 2018 [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Lenders [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 100,000 | $ 100,000 | $ 200,000 | 4,505,000 | |||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Lenders [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 100,000 | $ 200,000 | |||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Director Mr. Wit [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 4,475,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,680,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | 1,680,000 | ||||||||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 420,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Director Mr. van Kesteren [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 160,000 | $ 160,000 | |||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Chief Executive Officer, Director, Chief Operating Officer, Chairman, Chief Technology Officer, Chief Financial Officer and Directors [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.50 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 10,150,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Officers, Directors and Affiliate [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 4,980,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 4,475,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Chief Operating Officer [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 25,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Chairman and Chief Technology Officer [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | 5,000 | 5,000 | |||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 5,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Former Director [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 15,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Former Director [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 15,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | President [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 25,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 360,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | Non-Related Party [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 160,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2008 [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 5,075,000 | ||||||||||||||||||||||||||||||
Matures April 1, 2020 II [Member] | Lenders [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 100,000 | ||||||||||||||||||||||||||||||
Matures April 1, 2020 II [Member] | Investor [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,680,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2009 [Member] | Chief Executive Officer and Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 5,960,000 | 5,960,000 | |||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | $ 0.25 | |||||||||||||||||||||||||||||
Convertible Debentures Issued December 2009 [Member] | Lenders [Member] | Extended Maturity Debentures [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 50,000 | $ 1,490,000 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2009 [Member] | Lenders [Member] | Extended Maturity Debentures 2 [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 1,490,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2009 [Member] | Director Mr. Wit [Member] | Extended Maturity Debentures 2 [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 1,440,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2009 [Member] | Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,440,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 5,760,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | 5,760,000 | ||||||||||||||||||||||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | 5,760,000 | ||||||||||||||||||||||||||||||
Convertible Debentures Issued December 2009 [Member] | |||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 1,490,000 | $ 1,490,000 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.25 | $ 0.25 | |||||||||||||||||||||||||||||
Proceeds from Issuance of Secured Debt | $ 1,490,000 | ||||||||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 1,440,000 | ||||||||||||||||||||||||||||||
Chief Executive Officer and Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | 11,440,000 | ||||||||||||||||||||||||||||||
Director Mr. Wit [Member] | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | ||||||||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | 1,900,000 | ||||||||||||||||||||||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | 37,023,517 | ||||||||||||||||||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||||||||||
Interest Payable | $ 450,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,800,000 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | ||||||||||||||||||||||||||||||
Investor [Member] | |||||||||||||||||||||||||||||||
Warrant Term | 4 years | ||||||||||||||||||||||||||||||
Convertible Notes Payable | $ 7,275,000 | $ 7,275,000 | |||||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ||||||||||||||||||||||||||||||
Repayments of Notes Payable | $ 0 | $ 25,000 | |||||||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | 29,363,517 |
Note 8 - Convertible Notes Pa52
Note 8 - Convertible Notes Payable - Convertible Debt (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | Mar. 18, 2013 | |
Convertible Note Payable 10% $862,500 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | $ 0 | $ 0 | |
Convertible notes payable, related parties, long term, net of current portion | 0 | 0 | |
Convertible Note Payable 10% $862,500 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 75,000 | 75,000 | |
Convertible notes payable, long term, net of current portion | $ 0 | $ 0 | |
Convertible Note Payable 10% $862,500 [Member] | |||
Maturity date | Jun. 30, 2004 | Jun. 30, 2004 | |
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | |
Debt Instrument, Face Amount | $ 862,500 | $ 862,500 | |
Convertible Notes Payable | 75,000 | 75,000 | |
Convertible Notes Payable 10% $150,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, related parties, long term, net of current portion | 0 | 0 | |
Convertible Notes Payable 10% $150,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, long term, net of current portion | $ 150,000 | $ 150,000 | |
Convertible Notes Payable 10% $150,000 [Member] | |||
Maturity date | Apr. 1, 2018 | Apr. 1, 2017 | |
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | |
Debt Instrument, Face Amount | $ 150,000 | $ 150,000 | |
Convertible Notes Payable | 150,000 | 150,000 | |
Convertible Notes Payable 10% $2,120,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, related parties, long term, net of current portion | 1,770,000 | 1,770,000 | |
Convertible Notes Payable 10% $2,120,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, long term, net of current portion | $ 0 | $ 0 | |
Convertible Notes Payable 10% $2,120,000 [Member] | |||
Maturity date | Apr. 1, 2020 | Apr. 1, 2017 | |
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | |
Debt Instrument, Face Amount | $ 2,120,000 | $ 2,120,000 | |
Convertible Notes Payable | 1,770,000 | 1,770,000 | |
Convertible Notes Payable 12 Percent 375,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | ||
Convertible notes payable, related parties, long term, net of current portion | 0 | ||
Convertible Notes Payable 12 Percent 375,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | ||
Convertible notes payable, long term, net of current portion | $ 375,000 | ||
Convertible Notes Payable 12 Percent 375,000 [Member] | |||
Maturity date | Apr. 1, 2018 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Debt Instrument, Face Amount | $ 375,000 | ||
Convertible Notes Payable | 375,000 | ||
Convertible Notes Payable 12 Percent 260,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | ||
Convertible notes payable, related parties, long term, net of current portion | 0 | ||
Convertible Notes Payable 12 Percent 260,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | ||
Convertible notes payable, long term, net of current portion | $ 260,000 | ||
Convertible Notes Payable 12 Percent 260,000 [Member] | |||
Maturity date | Apr. 1, 2017 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Debt Instrument, Face Amount | $ 260,000 | ||
Convertible Notes Payable | 260,000 | ||
Convertible Notes Payable, 12%, $25,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, related parties, long term, net of current portion | 25,000 | 25,000 | |
Convertible Notes Payable, 12%, $25,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, long term, net of current portion | $ 0 | $ 0 | |
Convertible Notes Payable, 12%, $25,000 [Member] | |||
Maturity date | Apr. 1, 2018 | Apr. 1, 2018 | |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |
Debt Instrument, Face Amount | $ 25,000 | $ 25,000 | |
Convertible Notes Payable | 25,000 | 25,000 | |
Convertible Notes Payable, 12%, $4,570,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, related parties, long term, net of current portion | 4,055,000 | 4,055,000 | |
Convertible Notes Payable, 12%, $4,570,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, long term, net of current portion | $ 0 | $ 0 | |
Convertible Notes Payable, 12%, $4,570,000 [Member] | |||
Maturity date | Apr. 1, 2020 | Apr. 1, 2017 | |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |
Debt Instrument, Face Amount | $ 4,570,000 | $ 4,570,000 | |
Convertible Notes Payable | 4,055,000 | 4,055,000 | |
Convertible Notes Payable12 Percent,100,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | ||
Convertible notes payable, related parties, long term, net of current portion | 0 | ||
Convertible Notes Payable12 Percent,100,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | ||
Convertible notes payable, long term, net of current portion | $ 100,000 | ||
Convertible Notes Payable12 Percent,100,000 [Member] | |||
Maturity date | Apr. 1, 2020 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Debt Instrument, Face Amount | $ 100,000 | ||
Convertible Notes Payable | 100,000 | ||
Convertible Notes Payable, 12%, $215,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | ||
Convertible notes payable, related parties, long term, net of current portion | 0 | ||
Convertible Notes Payable, 12%, $215,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | ||
Convertible notes payable, long term, net of current portion | $ 215,000 | ||
Convertible Notes Payable, 12%, $215,000 [Member] | |||
Maturity date | Apr. 1, 2018 | ||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||
Debt Instrument, Face Amount | $ 215,000 | ||
Convertible Notes Payable | 215,000 | ||
Convertible Notes Payable, 12%, $100,000 issued 9/30/2009, Second Issuance [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, related parties, long term, net of current portion | 0 | 0 | |
Convertible Notes Payable, 12%, $100,000 issued 9/30/2009, Second Issuance [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, long term, net of current portion | $ 100,000 | $ 100,000 | |
Convertible Notes Payable, 12%, $100,000 issued 9/30/2009, Second Issuance [Member] | |||
Maturity date | Apr. 1, 2018 | Apr. 1, 2018 | |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |
Debt Instrument, Face Amount | $ 100,000 | $ 100,000 | |
Convertible Notes Payable | 100,000 | 100,000 | |
Convertible Notes Payable 12% 1,300,000 [Member] | Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, related parties, long term, net of current portion | 0 | 0 | |
Convertible Notes Payable 12% 1,300,000 [Member] | Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, long term, net of current portion | $ 625,000 | $ 625,000 | |
Convertible Notes Payable 12% 1,300,000 [Member] | |||
Maturity date | Apr. 1, 2020 | Apr. 1, 2017 | |
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | |
Debt Instrument, Face Amount | $ 1,300,000 | $ 1,300,000 | |
Convertible Notes Payable | 625,000 | 625,000 | |
Non-Related Party [Member] | |||
Convertible notes payable, current portion | 0 | 0 | |
Convertible notes payable, related parties, long term, net of current portion | 5,850,000 | 5,850,000 | |
Related Party [Member] | |||
Convertible notes payable, current portion | 75,000 | 75,000 | |
Convertible notes payable, long term, net of current portion | 1,350,000 | 1,350,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | ||
Debt Instrument, Face Amount | 9,602,500 | 9,602,500 | |
Convertible Notes Payable | 7,275,000 | 7,275,000 | |
Convertible notes payable, current portion | 75,000 | 75,000 | |
Convertible notes payable, related parties, long term, net of current portion | 5,850,000 | 5,850,000 | |
Convertible notes payable, long term, net of current portion | $ 1,350,000 | $ 1,350,000 |
Note 8 - Convertible Notes Pa53
Note 8 - Convertible Notes Payable - Convertible Debt Maturity Payments (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 |
Convertible Debt [Member] | ||
2,016 | $ 75,000 | |
2,017 | 0 | |
2,018 | 650,000 | |
2,019 | 0 | |
2,020 | 6,550,000 | |
Total | 7,275,000 | |
Total | $ 7,275,000 | $ 7,275,000 |
Note 9 - Fair Value Measureme54
Note 9 - Fair Value Measurement (Details Textual) | 6 Months Ended |
Jun. 30, 2016 | |
Minimum [Member] | |
Finite-Lived Intangible Asset, Useful Life | 3 years |
Maximum [Member] | |
Finite-Lived Intangible Asset, Useful Life | 15 years |
Finite-Lived Intangible Asset, Useful Life |
Note 9 - Fair Value Measureme55
Note 9 - Fair Value Measurement - Fair Value of Liabilities Measured on a Recurring Basis (Details) - USD ($) | Jun. 30, 2016 | [2] | Dec. 31, 2015 | [3] | |
Conversion Feature Liability [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Derivative Liability fair value | [1] | $ 0 | $ 0 | ||
Conversion Feature Liability [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Derivative Liability fair value | [1] | 0 | 0 | ||
Conversion Feature Liability [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Derivative Liability fair value | [1] | 2,313,328 | 901,243 | ||
Conversion Feature Liability [Member] | |||||
Derivative Liability fair value | [1] | 2,313,328 | 901,243 | ||
Warrant Liability [Member] | Fair Value, Inputs, Level 1 [Member] | |||||
Derivative Liability fair value | [1] | 0 | 0 | ||
Warrant Liability [Member] | Fair Value, Inputs, Level 2 [Member] | |||||
Derivative Liability fair value | [1] | 0 | 0 | ||
Warrant Liability [Member] | Fair Value, Inputs, Level 3 [Member] | |||||
Derivative Liability fair value | [1] | 3,812,690 | 1,914,923 | ||
Warrant Liability [Member] | |||||
Derivative Liability fair value | [1] | 3,812,690 | 1,914,923 | ||
Fair Value, Inputs, Level 1 [Member] | |||||
Derivative Liability fair value | [1] | 0 | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||||
Derivative Liability fair value | [1] | 0 | 0 | ||
Fair Value, Inputs, Level 3 [Member] | |||||
Derivative Liability fair value | [1] | 6,126,018 | 2,816,166 | ||
Derivative Liability fair value | [1] | $ 6,126,018 | $ 2,816,166 | ||
[1] | The fair value at the measurement date is equal to their carrying value on the balance sheet | ||||
[2] | The fair value of the derivative instruments was estimated using the Income Approach and the Black Scholes option pricing model with the following assumptions for the period ended June 30, 2016 | ||||
[3] | The fair value of the derivative instruments was estimated using the Income Approach and the Black Scholes option pricing model with the following assumptions for the year ended December 31, 2015 |
Note 9 - Fair Value Measureme56
Note 9 - Fair Value Measurement - Fair Value Assumptions (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Minimum [Member] | Conversion Feature Liability [Member] | ||
Conversion feature liability | 1 year 273 days | 1 year 91 days |
Minimum [Member] | Warrant Liability [Member] | ||
Conversion feature liability | 273 days | 0 years |
Minimum [Member] | ||
Risk free interest rate | 0.56% | 0.48% |
Expected volatility | 106.30% | 91.00% |
Maximum [Member] | Conversion Feature Liability [Member] | ||
Conversion feature liability | 3 years 277 days | 2 years 91 days |
Maximum [Member] | Warrant Liability [Member] | ||
Conversion feature liability | 3 years 277 days | 3 years 3 days |
Maximum [Member] | ||
Risk free interest rate | 0.92% | 1.20% |
Expected volatility | 139.40% | 132.20% |
Dividend yield | 0.00% | 0.00% |
Note 9 - Fair Value Measureme57
Note 9 - Fair Value Measurement - Fair Value of Assets Acquired on Non-recurring Basis (Details) - USD ($) | Jun. 30, 2016 | Dec. 31, 2015 | |
Fair Value, Inputs, Level 1 [Member] | |||
Promasys B.V. customer list (4) | [1],[2] | $ 0 | |
Promasys B.V. software code (4) | [1],[2] | 0 | |
Promasys B.V. URLs/website (4) | [1],[2] | 0 | |
Total | [2] | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Promasys B.V. customer list (4) | [1],[2] | 0 | |
Promasys B.V. software code (4) | [1],[2] | 0 | |
Promasys B.V. URLs/website (4) | [1],[2] | 0 | |
Total | [2] | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Promasys B.V. customer list (4) | [1],[2] | 136,253 | |
Promasys B.V. software code (4) | [1],[2] | 72,943 | |
Promasys B.V. URLs/website (4) | [1],[2] | 68,814 | |
Total | [2] | 278,010 | |
Promasys B.V. customer list (4) | [1],[2] | 90,703 | $ 92,444 |
Promasys B.V. software code (4) | [1],[2] | 33,991 | 41,274 |
Promasys B.V. URLs/website (4) | [1],[2] | 6,190 | 15,159 |
Total | [2] | $ 130,884 | $ 148,877 |
[1] | The acquired Promasys B.V. software code, customer list and URLs/website are not measured on a recurring basis since their initial fair value has been deemed to have a finite life and is being amortized periodically. Instead the Company performs an impairment analysis on a quarterly basis in order to determine whether the carrying value of the assets reflects the fair value of the assets in a market based transaction. | ||
[2] | The fair value of the acquired assets was estimated using the Income Approach with a discounted cash flow valuation methodology applied. |
Note 9 - Fair Value Measureme58
Note 9 - Fair Value Measurement - Unrealized Gain or Loss Included in Earnings (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
The net amount of gains/(losses) for the period included in earnings attributable to the unrealized gain/(losses) from changes in derivative liabilities at the reporting date | $ (2,458,836) | $ 4,072,798 |
Total unrealized gains/(losses) included in earnings | $ (2,458,836) | $ 4,072,798 |
Note 9 - Fair Value Measureme59
Note 9 - Fair Value Measurement - Change in Level 3 Financial Liabilities Fair Value (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Conversion Feature Liability [Member] | ||
Derivatives: | ||
Balance beginning of year | $ (901,243) | $ (2,944,402) |
Net realized gains/(losses) | 0 | 29,875 |
Net unrealized gains/(losses) relating to instruments still held at the reporting date | (1,412,085) | 2,013,284 |
Net purchases, issuances and settlements | 0 | 0 |
Net transfers in and/or out of Level 3 | 0 | 0 |
Balance, end of period | (2,313,328) | (901,243) |
Net realized gains/(losses) | 0 | 29,875 |
Net unrealized gains/(losses) relating to instruments still held at the reporting date | (1,412,085) | 2,013,284 |
Net purchases, issuances and settlements | 0 | 0 |
Net transfers in and/or out of Level 3 | 0 | 0 |
Warrant Liability [Member] | ||
Derivatives: | ||
Balance beginning of year | (1,914,923) | (6,695,060) |
Net realized gains/(losses) | 0 | 0 |
Net unrealized gains/(losses) relating to instruments still held at the reporting date | (1,046,751) | 2,482,639 |
Net purchases, issuances and settlements | (851,016) | (868,128) |
Net transfers in and/or out of Level 3 | 0 | 3,165,626 |
Balance, end of period | (3,812,690) | (1,914,923) |
Net realized gains/(losses) | 0 | 0 |
Net unrealized gains/(losses) relating to instruments still held at the reporting date | (1,046,751) | 2,482,639 |
Net purchases, issuances and settlements | (851,016) | (868,128) |
Net transfers in and/or out of Level 3 | 0 | 3,165,626 |
Balance beginning of year | (2,816,166) | (9,639,462) |
Net realized gains/(losses) | 0 | 29,875 |
Net unrealized gains/(losses) relating to instruments still held at the reporting date | (2,458,836) | 4,495,923 |
Net purchases, issuances and settlements | (851,016) | (868,128) |
Net transfers in and/or out of Level 3 | 0 | 3,165,626 |
Balance, end of period | (6,126,018) | (2,816,166) |
Net realized gains/(losses) | 0 | 29,875 |
Net unrealized gains/(losses) relating to instruments still held at the reporting date | (2,458,836) | 4,495,923 |
Net purchases, issuances and settlements | (851,016) | (868,128) |
Net transfers in and/or out of Level 3 | $ 0 | $ 3,165,626 |
Note 10 - Commitments and Con60
Note 10 - Commitments and Contingencies (Details Textual) | 1 Months Ended | 6 Months Ended | |
Jun. 30, 2009USD ($) | Jun. 30, 2016USD ($)$ / sharesshares | Jun. 30, 2015USD ($) | |
Settlement and Licensing Agreement [Member] | |||
Patent Royalty Percentage Obligation | 2.00% | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,000,000 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.01 | ||
Loss Contingency, Estimate of Possible Loss | $ 300,000 | ||
Loss Contingency, Pending Claims, Number | 0 | ||
Operating Leases, Rent Expense | $ 501,058 | $ 482,711 | |
License Payments | $ 300,000 | ||
Other Expenses | $ 52,322 | $ 64,822 |
Note 10 - Commitments and Con61
Note 10 - Commitments and Contingencies - Minimum Royalty Payments Per Year (Details) | Jun. 30, 2016USD ($) |
2,016 | $ 396,069 |
2,017 | 662,992 |
2,018 | 512,421 |
2,019 | 421,230 |
2,020 | 297,570 |
Thereafter | 580,512 |
Total | $ 2,870,794 |
Note 10 - Commitments and Con62
Note 10 - Commitments and Contingencies - Future Minimum Lease Payments (Details) | Jun. 30, 2016USD ($) |
2,016 | $ 225,000 |
2,017 | 450,000 |
2,018 | 164,500 |
Total | $ 839,500 |
Note 11 - Related Party Trans63
Note 11 - Related Party Transactions (Details Textual) | Nov. 19, 2015USD ($)$ / sharesshares | May 02, 2015USD ($) | Jan. 31, 2015USD ($)$ / sharesshares | Mar. 18, 2013USD ($) | Dec. 31, 2009USD ($)shares | Sep. 30, 2009USD ($)$ / sharesshares | Dec. 16, 2008USD ($)$ / sharesshares | Aug. 29, 2008USD ($)$ / sharesshares | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2015USD ($)shares | Mar. 31, 2015USD ($) | Mar. 31, 2016USD ($) | Feb. 29, 2016USD ($)$ / sharesshares | Nov. 23, 2015USD ($) | Oct. 15, 2015USD ($) | Apr. 30, 2015USD ($) | Apr. 02, 2015USD ($)$ / sharesshares | Feb. 03, 2015USD ($) | Dec. 18, 2013USD ($) | Feb. 22, 2013USD ($) | Oct. 16, 2012USD ($)shares | Jun. 30, 2008USD ($) | Feb. 29, 2008USD ($) |
12% Promissory Notes [Member] | Chairman and Chief Technology Officer [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 20,000 | |||||||||||||||||||||||||
12% Promissory Notes [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 6,919,000 | |||||||||||||||||||||||||
Convertible Debentures [Member] | Chairman and Chief Technology Officer [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 5,000 | |||||||||||||||||||||||||
Convertible Debentures [Member] | Chief Operating Officer [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Convertible Notes Payable | $ 25,000 | |||||||||||||||||||||||||
Convertible Debentures [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Convertible Notes Payable | $ 510,000 | |||||||||||||||||||||||||
Due to Related Parties | $ 5,825,000 | |||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 510,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 5,760,000 | |||||||||||||||||||||||||
Promissory Notes [Member] | CEO And Director [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | 450,000 | |||||||||||||||||||||||||
Convertible Debenture Initiated In June 2008 [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||||||||||||
Convertible Notes Payable | $ 1,770,000 | $ 1,770,000 | $ 1,260,000 | $ 1,770,000 | ||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 3,540,000 | |||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.50 | |||||||||||||||||||||||||
Convertible Debenture Initiated In February 2008 [Member] | Director Mr. Wit [Member] | Extended Maturity Debentures [Member] | ||||||||||||||||||||||||||
Convertible Notes Payable | $ 4,055,000 | $ 4,055,000 | ||||||||||||||||||||||||
Convertible Debenture Initiated In February 2008 [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 150,000 | |||||||||||||||||||||||||
Convertible Notes Payable | 4,475,000 | $ 4,350,000 | $ 4,475,000 | $ 125,000 | $ 4,200,000 | |||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 4,350,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,680,000 | 8,700,000 | 250,000 | |||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.50 | |||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Rate | 12.00% | |||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 420,000 | |||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | shares | 1,680,000 | |||||||||||||||||||||||||
Aggregated Convertible Debt July - September 30, 2009 [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Convertible Notes Payable | 1,100,000 | $ 1,100,000 | ||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 475,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,900,000 | 4,400,000 | ||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 475,000 | |||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | shares | 1,900,000 | |||||||||||||||||||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 4,400,000 | |||||||||||||||||||||||||
Warrants and Rights Outstanding | $ 4,400,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 | |||||||||||||||||||||||||
Warrants Extension of Maturity | 2 years | |||||||||||||||||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | shares | 5,760,000 | |||||||||||||||||||||||||
Notes Payable Related Parties Amount Transfered | $ 625,000 | |||||||||||||||||||||||||
Aggregated Convertible Debt July - September 30, 2009 [Member] | ||||||||||||||||||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | shares | 1,900,000 | |||||||||||||||||||||||||
Aggregated Convertible Debt October - December 31, 2009 [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Convertible Notes Payable | 1,440,000 | $ 1,440,000 | ||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,440,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 5,760,000 | |||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 1,440,000 | |||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | shares | 5,760,000 | |||||||||||||||||||||||||
Warrants Extension of Maturity | 2 years | |||||||||||||||||||||||||
Matures On April 1, 2017 [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | 2,860,000 | $ 980,000 | $ 980,000 | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | 12.00% | ||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 6,879 | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 3,920,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 | |||||||||||||||||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | shares | 11,440,000 | |||||||||||||||||||||||||
Matures On April 1, 2017 [Member] | Accrued Interest [Member] | ||||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 980,000 | |||||||||||||||||||||||||
Matures on January 1, 2019 [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 3,920,000 | |||||||||||||||||||||||||
Matures on April 1, 2019 [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 2,860,000 | |||||||||||||||||||||||||
Matures On April 1, 2017 II [Member] | Director Mr. Wit [Member] | Notes Payable, Other Payables [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Matures On April 1, 2017 II [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 529,000 | |||||||||||||||||||||||||
Matures On January 1, 2019 II [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 529,000 | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 2,116,000 | |||||||||||||||||||||||||
Matures On April 1, 2017 III [Member] | Director Mr. Wit [Member] | Accrued Interest [Member] | ||||||||||||||||||||||||||
Extinguishment of Debt, Amount | 670,000 | |||||||||||||||||||||||||
Matures On April 1, 2017 III [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 950,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 3,800,000 | |||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 280,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 | |||||||||||||||||||||||||
Matures On January 1, 2019 IV [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 950,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 3,800,000 | |||||||||||||||||||||||||
Matures On January 1, 2019 III [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
12% Percent Convertible Notes Payable [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 1,915,000 | |||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.25 | |||||||||||||||||||||||||
Extinguishment of Debt, Amount | $ 420,000 | |||||||||||||||||||||||||
12% Promissory Notes [Member] | Chairman and Chief Technology Officer [Member] | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Matures On April 1, 2017 [Member] | Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | shares | 11,440,000 | |||||||||||||||||||||||||
Director Mr. Wit [Member] | ||||||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | shares | 1,900,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 | |||||||||||||||||||||||||
Stock Issued During Period Converted Cancelled Debt and Cancelled Warrants Shares | shares | 37,023,517 | |||||||||||||||||||||||||
Warrants Cancelled | shares | 29,363,517 | |||||||||||||||||||||||||
Interest Expense, Related Party Approximately Monthly Amount | $ 9,500 | |||||||||||||||||||||||||
Chief Executive Officer [Member] | ||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 450,000 | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,800,000 | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 | |||||||||||||||||||||||||
Interest Payable | $ 450,000 | |||||||||||||||||||||||||
The Northern Trust Company [Member] | ||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000 | $ 5,000,000 | $ 4,000,000 | |||||||||||||||||||||||
Line of Credit Facility, Interest Rate During Period | 2.00% | |||||||||||||||||||||||||
Long-term Line of Credit | $ 5,000,000 | |||||||||||||||||||||||||
Line of Credit Facility, Interest Rate at Period End | 2.50% | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.00% | |||||||||||||||||||||||||
Convertible Notes Payable | 7,275,000 | $ 7,275,000 | $ 7,275,000 | |||||||||||||||||||||||
Class of Warrant or Right Cancelled During the Period | shares | 29,363,517 | |||||||||||||||||||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 15,910,000 | |||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000 | $ 5,000,000 | $ 4,000,000 | |||||||||||||||||||||||
Long-term Line of Credit | $ 5,000,000 | $ 5,000,000 | ||||||||||||||||||||||||
Line of Credit Facility, Interest Rate at Period End | 2.50% | 2.50% | ||||||||||||||||||||||||
Interest Expense, Related Party | $ 235,084 | $ 672,649 | $ 443,686 | $ 1,299,785 |
Note 12 - Stockholders' (Defi64
Note 12 - Stockholders' (Deficit) (Details Textual) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016USD ($)shares | Dec. 31, 2015shares | Dec. 31, 2014shares | |
Series A Preferred Stock [Member] | |||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | |
Preferred Stock, Dividend Rate, Percentage | 5.00% | ||
Preferred Stock, Shares Issued | 0 | 3,637,724 | |
Preferred Stock, Shares Outstanding | 0 | 3,637,724 | |
Conversion of Stock, Shares Converted | 4,125,224 | ||
Stock Issued During Period, Shares, Conversion of Convertible Securities | (3,637,724) | (487,500) | |
Series B Preferred Stock [Member] | |||
Preferred Stock, Shares Authorized | 230,000 | 230,000 | |
Preferred Stock, Shares Issued | 0 | 0 | |
Preferred Stock, Shares Outstanding | 0 | 0 | |
Series C Preferred Stock [Member] | |||
Preferred Stock, Shares Authorized | 747,500 | 747,500 | |
Preferred Stock, Shares Issued | 0 | 0 | |
Preferred Stock, Shares Outstanding | 0 | 0 | |
Series D Preferred Stock [Member] | |||
Preferred Stock, Shares Authorized | 250,000 | 250,000 | |
Preferred Stock, Shares Issued | 250,000 | 250,000 | |
Preferred Stock, Shares Outstanding | 250,000 | 250,000 | |
Stock Issued During Period, Shares, Conversion of Convertible Securities | |||
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 | |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | |
Preferred Stock, Dividend Rate, Percentage | 5.00% | ||
Common Stock, Shares Authorized, Increase in Amount | 250,000,000 | ||
Common Stock, Shares, Issued | 147,683,879 | 131,703,577 | |
Class of Warrant or Right, Outstanding | 27,860,000 | 22,900,000 | 48,463,517 |
Convertible Debt | $ | $ 7,275,000 | ||
Debt Instrument, Convertible, Number of Equity Instruments | 15,910,000 | ||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 16,500,896 |
Note 12 - Stockholders' (Defi65
Note 12 - Stockholders' (Deficit) - Cumulative Arrearage of Undeclared Dividends (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Series A Preferred Stock [Member] | ||
Preferred Stock, Dividend, Cumulative Arrearage | $ 0 | $ 2,688,984 |
Preferred Stock, Dividend, Cumulative Arrearage Per Share (in dollars per share) | $ 0 | $ 0.65 |
Series B Preferred Stock [Member] | ||
Preferred Stock, Dividend, Cumulative Arrearage | $ 609,887 | $ 609,887 |
Preferred Stock, Dividend, Cumulative Arrearage Per Share (in dollars per share) | $ 3.05 | $ 3.05 |
Series C Preferred Stock [Member] | ||
Preferred Stock, Dividend, Cumulative Arrearage | $ 1,472,093 | $ 1,472,093 |
Preferred Stock, Dividend, Cumulative Arrearage Per Share (in dollars per share) | $ 4.37 | $ 4.37 |
Preferred Stock, Dividend, Cumulative Arrearage | $ 2,081,980 | $ 4,770,964 |
Note 12 - Stockholders' (Defi66
Note 12 - Stockholders' (Deficit) - Dividends Payable (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Series A Preferred Stock [Member] | ||
Dividends accreted | $ 1,870 | $ 102,283 |
Divideds accreted per share (in dollars per share) | $ 0.012 | $ 0.025 |
Series B Preferred Stock [Member] | ||
Dividends accreted | $ 0 | $ 0 |
Divideds accreted per share (in dollars per share) | $ 0 | $ 0 |
Series C Preferred Stock [Member] | ||
Dividends accreted | $ 0 | $ 0 |
Divideds accreted per share (in dollars per share) | $ 0 | $ 0 |
Note 12 - Stockholders' (Defi67
Note 12 - Stockholders' (Deficit) - Warrants (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Maximum [Member] | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.60 | $ 0.60 | |
Class of Warrant or Right, Outstanding | 27,860,000 | 22,900,000 | 48,463,517 |
Weighted average remaining contractual life | 3 years 76 days | 1 year 277 days | |
Weighted average exercise price (in dollars per share) | $ 0.42 | $ 0.46 | |
Warrants exercisable at June 30, 2016 (in shares) | 27,860,000 | 22,900,000 | |
Warrants exercisable Weighted average exercise price (in dollars per share) | $ 0.42 | $ 0.46 |
Note 12 - Stockholders' (Defi68
Note 12 - Stockholders' (Deficit) - Warrants Activity (Details) - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Balance (in shares) | 22,900,000 | 48,463,517 |
Issued (in shares) | 4,970,000 | 3,800,000 |
Exercised (in shares) | 0 | 0 |
Cancelled (in shares) | (29,363,517) | |
Expired/forfeited (in shares) | (10,000) | 0 |
Balance (in shares) | 27,860,000 | 22,900,000 |
Warrants exercisable at June 30, 2016 (in shares) | 27,860,000 | 22,900,000 |
Weighted average fair value of warrants granted during 2016 | $ 0.15 |
Note 12 - Stockholders' (Defi69
Note 12 - Stockholders' (Deficit) - Accumulated Other Comprehensive Gain (Loss) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2016 | Jun. 30, 2015 | Jun. 30, 2016 | Jun. 30, 2015 | Dec. 31, 2015 | |
Foreign currency translation | $ (366,355) | $ (243,827) | $ (243,827) | ||
Foreign currency translation adjustment | (366,355) | (243,827) | (243,827) | ||
Foreign currency translation adjustment | $ (14,631) | $ 21,926 | (17,787) | (83,531) | (122,528) |
Accumulated other comprehensive income (loss) | (14,631) | $ 21,926 | (17,787) | $ (83,531) | (122,528) |
Foreign currency translation | (384,142) | (384,142) | (366,355) | ||
Foreign currency translation adjustment | $ (384,142) | $ (384,142) | $ (366,355) |
Note 13 - Employee Equity Inc70
Note 13 - Employee Equity Incentive Plans (Details Textual) | Jun. 16, 2016shares | Jun. 30, 2016USD ($)$ / sharesshares | Jun. 30, 2015USD ($)$ / shares | Jun. 30, 2016USD ($)shares | Dec. 31, 2015shares | Dec. 31, 2014shares |
The 2016 Plan [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 2 years | |||||
The 2016 Plan [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year | |||||
The 2016 Plan [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
The 2016 Plan [Member] | Employee Stock Option [Member] | ||||||
Share-based Compensation Arrangement, Installments for Vesting | 2 | |||||
The 2016 Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | |||
Common Stock Available for Issuance Increasing Period | 9 years | |||||
Common Stock Available for Issuance, Annual Increase Percent | 5.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 0 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 0 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 10,000,000 | 10,000,000 | ||||
Equity Incentive Plan 2009 [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 2 years | |||||
Equity Incentive Plan 2009 [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period | 1 year | |||||
Equity Incentive Plan 2009 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Equity Incentive Plan 2009 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 7,500,000 | 7,500,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | |||||
Share-based Compensation Arrangement, Installments for Vesting | 2 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | ||||
Equity Incentive Plan 2009 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 982,500 | 982,500 | ||||
Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number | 3,893,330 | 3,893,330 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 982,500 | 982,500 | 2,002,500 | 3,130,000 | ||
Proceeds from Stock Options Exercised | $ | $ 125,000 | $ 27,250 | $ 27,250 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 0 | $ 0.26 | ||||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ | $ 0 | $ 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures | 0 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | $ 17,927 | $ 17,927 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 328 days |
Note 13 - Employee Equity Inc71
Note 13 - Employee Equity Incentive Plans - Stock Option Activity (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Number of shares (in shares) | 2,002,500 | 3,130,000 | |
Weighted average exercise price (per share) (in dollars per share) | $ 0.14 | $ 0.20 | |
Weighted average remaining contractual term (in years) | 1 year 361 days | 1 year 146 days | 1 year 215 days |
Aggregate intrinsic value | $ 57,088 | $ 198,990 | $ 364,900 |
Number of shares, granted (in shares) | 0 | 225,000 | |
Weighted average exercise price (per share), granted (in dollars per share) | $ 0 | $ 0.25 | |
Number of shares, exercised (in shares) | (1,012,500) | (292,500) | |
Weighted average exercise price (per share), exercised (in dollars per share) | $ 0.13 | $ 0.12 | |
Number of shares, forfeited/cancelled/expired (in shares) | (7,500) | (1,060,000) | |
Weighted average exercise price (per share), forfeited/cancelled/expired (in dollars per share) | $ 0.13 | $ 0.35 | |
Number of shares (in shares) | 982,500 | 2,002,500 | 3,130,000 |
Weighted average exercise price (per share) (in dollars per share) | $ 0.16 | $ 0.14 | $ 0.20 |
Vested and exercisable at June 30, 2016 (in shares) | 845,000 | ||
Vested and exercisable at June 30, 2016 (in dollars per share) | $ 0.15 | ||
Vested and exercisable at June 30, 2016 | 1 year 255 days | ||
Vested and exercisable at June 30, 2016 | $ 54,938 |
Note 13 - Employee Equity Inc72
Note 13 - Employee Equity Incentive Plans - Vested Shares (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Number of options vested (in shares) | 112,500 | 125,000 |
Fair value of options vested | $ 25,153 | $ 22,235 |
Note 13 - Employee Equity Inc73
Note 13 - Employee Equity Incentive Plans - Stock Options Oustanding (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Range One [Member] | ||
Low Price range (in dollars per share) | $ 0 | $ 0 |
High Price range (in dollars per share) | $ 0.20 | $ 0.20 |
Outstanding stock options (in shares) | 757,500 | 1,777,500 |
Weighted average remaining contractual life-outstanding | 1 year 262 days | 1 year 51 days |
Weighted average outstanding strike price-outstanding (in dollars per share) | $ 0.13 | $ 0.13 |
Vested stock options (in shares) | 682,500 | 1,652,500 |
Weighted average remaining contractual life-vested | 1 year 175 days | 339 days |
Weighted average outstanding strike price-vested (in dollars per share) | $ 0.13 | $ 0.13 |
Range Two [Member] | ||
Low Price range (in dollars per share) | 0.21 | 0.21 |
High Price range (in dollars per share) | $ 0.29 | $ 0.29 |
Outstanding stock options (in shares) | 125,000 | 125,000 |
Weighted average remaining contractual life-outstanding | 2 years 120 days | 2 years 302 days |
Weighted average outstanding strike price-outstanding (in dollars per share) | $ 0.22 | $ 0.22 |
Vested stock options (in shares) | 112,500 | 100,000 |
Weighted average remaining contractual life-vested | 2 years 62 days | 2 years 167 days |
Weighted average outstanding strike price-vested (in dollars per share) | $ 0.21 | $ 0.21 |
Range Three [Member] | ||
Low Price range (in dollars per share) | 0.30 | 0.30 |
High Price range (in dollars per share) | $ 0.49 | $ 0.49 |
Outstanding stock options (in shares) | 100,000 | 100,000 |
Weighted average remaining contractual life-outstanding | 3 years 244 days | 4 years 62 days |
Weighted average outstanding strike price-outstanding (in dollars per share) | $ 0.30 | $ 0.30 |
Vested stock options (in shares) | 50,000 | 0 |
Weighted average remaining contractual life-vested | 3 years 244 days | 0 years |
Weighted average outstanding strike price-vested (in dollars per share) | $ 0.30 | $ 0 |
Range Four [Member] | ||
Low Price range (in dollars per share) | 0.50 | 0.50 |
High Price range (in dollars per share) | $ 0.70 | $ 0.70 |
Outstanding stock options (in shares) | 0 | 0 |
Weighted average remaining contractual life-outstanding | 0 years | 0 years |
Weighted average outstanding strike price-outstanding (in dollars per share) | $ 0 | $ 0 |
Vested stock options (in shares) | 0 | 0 |
Weighted average remaining contractual life-vested | 0 years | 0 years |
Weighted average outstanding strike price-vested (in dollars per share) | $ 0 | $ 0 |
Range Five [Member] | ||
Low Price range (in dollars per share) | 0 | 0 |
High Price range (in dollars per share) | $ 0.70 | $ 0.70 |
Outstanding stock options (in shares) | 982,500 | 2,002,500 |
Weighted average remaining contractual life-outstanding | 1 year 361 days | 1 year 146 days |
Weighted average outstanding strike price-outstanding (in dollars per share) | $ 0.16 | $ 0.14 |
Vested stock options (in shares) | 845,000 | 1,752,500 |
Weighted average remaining contractual life-vested | 1 year 255 days | 1 year 7 days |
Weighted average outstanding strike price-vested (in dollars per share) | $ 0.15 | $ 0.13 |
Low Price range (in dollars per share) | 0.045 | |
High Price range (in dollars per share) | $ 0.30 |
Note 13 - Employee Equity Inc74
Note 13 - Employee Equity Incentive Plans - Fair Value Assumptions of Share-based Payments (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2016 | Dec. 31, 2015 | |
Risk-free interest rate | 1.30% | 1.20% |
Expected dividend yield | 0.00% | 0.00% |
Expected volatility | 157.60% | 183.80% |
Expected life of options (in years) | 5 years | 5 years |
Note 13 - Employee Equity Inc75
Note 13 - Employee Equity Incentive Plans - Weighted Average Grant Date Fair Value Activity (Details) - $ / shares | 6 Months Ended | |
Jun. 30, 2016 | Jun. 30, 2015 | |
Stock options granted during the period (in dollars per share) | $ 0 | $ 0.26 |
Stock options vested during the period (in dollars per share) | 0.22 | 0.18 |
Stock options forfeited during the period (in dollars per share) | $ 0.11 | $ 0.25 |
Note 13 - Employee Equity Inc76
Note 13 - Employee Equity Incentive Plans - Status of Non-vested Shares (Details) - $ / shares | Jun. 30, 2016 | Dec. 31, 2015 |
Shares underlying stock options (in shares) | 137,500 | 250,000 |
Weighted average grant date fair value (in dollars per share) | $ 0.22 | $ 0.22 |
Note 14 - Subsequent Events (De
Note 14 - Subsequent Events (Details Textual) - USD ($) | 1 Months Ended | 6 Months Ended | 12 Months Ended |
Aug. 04, 2016 | Jun. 30, 2016 | Dec. 31, 2015 | |
Subsequent Event [Member] | |||
Repayments of Lines of Credit | $ 200,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 3,038 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 1,012,500 | 292,500 |