Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 10, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001038277 | |
Entity Registrant Name | INTERNATIONAL ISOTOPES INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 0-22923 | |
Entity Incorporation, State or Country Code | TX | |
Entity Tax Identification Number | 74-2763837 | |
Entity Address, Address Line One | 4137 Commerce Circle | |
Entity Address, City or Town | Idaho Falls | |
Entity Address, State or Province | ID | |
Entity Address, Postal Zip Code | 83401 | |
City Area Code | 208 | |
Local Phone Number | 524-5300 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 519,787,870 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets | ||
Cash and cash equivalents | $ 2,897,208 | $ 2,375,817 |
Accounts receivable | 1,382,701 | 1,596,886 |
Inventories | 740,803 | 744,793 |
Prepaids and other current assets | 437,354 | 1,023,129 |
Total current assets | 5,458,066 | 5,740,625 |
Long-term assets | ||
Restricted cash | 869,339 | 840,049 |
Property, plant and equipment, net | 2,455,232 | 2,024,486 |
Capitalized lease disposal costs, net | 214,158 | 228,125 |
Financing lease right-of-use asset | 8,114 | 12,621 |
Operating lease right-of-use asset | 2,216,596 | 2,311,082 |
Goodwill | 1,384,255 | 1,384,255 |
Patents and other intangibles, net | 3,579,682 | 3,703,353 |
Total long-term assets | 10,727,376 | 10,503,971 |
Total assets | 16,185,442 | 16,244,596 |
Current liabilities | ||
Accounts payable | 281,715 | 382,392 |
Accrued liabilities | 1,341,833 | 1,472,504 |
Unearned revenue | 1,004,867 | 879,365 |
Current portion of operating lease right-of-use liability | 138,384 | 131,572 |
Current portion of financing lease liability | 3,047 | 5,513 |
Total current liabilities | 3,545,422 | 3,514,694 |
Long-term liabilities | ||
Accrued long-term liabilities | 84,375 | 112,500 |
Asset retirement obligation | 981,948 | 942,378 |
Financing lease liability, net of current portion | 528 | 2,832 |
Operating lease right-of-use liability, net of current portion | 2,127,587 | 2,232,244 |
Mandatorily redeemable convertible preferred stock | 4,063,000 | 4,063,000 |
Total long-term liabilities | 8,560,925 | 8,387,360 |
Total liabilities | 12,106,347 | 11,902,054 |
Stockholders' equity | ||
Common stock, $0.01 par value; 750,000,000 shares authorized; 519,750,538 and 514,889,916 shares issued and outstanding respectively | 5,197,505 | 5,148,899 |
Additional paid in capital | 126,102,394 | 125,654,486 |
Accumulated deficit | (127,220,804) | (126,460,843) |
Total equity | 4,079,095 | 4,342,542 |
Total liabilities and stockholders' equity | 16,185,442 | 16,244,596 |
Related Party [Member] | ||
Current liabilities | ||
Current installments of notes payable | 620,000 | 620,000 |
Long-term liabilities | ||
Notes payable, net of current portion | 1,000,000 | 1,000,000 |
Nonrelated Party [Member] | ||
Current liabilities | ||
Current installments of notes payable | 155,576 | 23,348 |
Long-term liabilities | ||
Notes payable, net of current portion | $ 303,487 | $ 34,406 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 750,000,000 | 750,000,000 |
Common stock, issued (in shares) | 519,750,538 | 514,889,916 |
Common stock, outstanding (in shares) | 519,750,538 | 514,889,916 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Sale of product | $ 2,918,556 | $ 2,789,273 | $ 9,120,256 | $ 8,031,522 |
Cost of product | 1,125,888 | 1,305,730 | 3,704,939 | 3,470,706 |
Gross profit | 1,792,668 | 1,483,543 | 5,415,317 | 4,560,816 |
Operating costs and expenses: | ||||
Salaries and contract labor | 1,152,987 | 800,550 | 3,072,348 | 2,535,771 |
General, administrative and consulting | 848,597 | 1,008,219 | 2,620,449 | 2,784,367 |
Research and development | 100,544 | 148,327 | 408,012 | 442,383 |
Total operating expenses | 2,102,128 | 1,957,096 | 6,100,809 | 5,762,521 |
Net operating loss | (309,460) | (473,553) | (685,492) | (1,201,705) |
Other income (expense): | ||||
Other income | 22,873 | 49,151 | 123,803 | 2,077,719 |
Interest income | 20,328 | 2,849 | 49,270 | 3,574 |
Interest expense | (82,346) | (147,116) | (247,542) | (465,260) |
Total other income (expense) | (39,145) | (95,116) | (74,469) | 1,616,033 |
Net income (loss) | $ (348,605) | $ (568,669) | $ (759,961) | $ 414,328 |
Net loss per common share - basic: (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Net loss per common share - diluted: (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average common shares outstanding - basic (in shares) | 518,301,657 | 514,789,680 | 517,265,031 | 509,587,202 |
Weighted average common shares outstanding - diluted (in shares) | 518,301,657 | 514,789,680 | 517,265,031 | 511,057,330 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash flows from operating activities | ||
Net (loss) income | $ (759,961) | $ 414,328 |
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities | ||
Depreciation and amortization | 262,029 | 288,047 |
Accretion of obligation for lease disposal costs | 39,570 | 37,459 |
Accretion of beneficial conversion feature and discount | 0 | 210,377 |
Equity based compensation | 398,727 | 297,243 |
Gain on sale of property, plant and equipment | 0 | (1,797,978) |
Right-of-use asset amortization | (3,359) | (1,409) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (214,185) | 689,036 |
Inventories | (3,990) | (45,565) |
Prepaids and other current assets | (585,775) | (112,742) |
Accounts payable and accrued liabilities | (168,813) | 124,609 |
Unearned revenues | 125,502 | 890 |
Net cash provided by (used in) operating activities | 697,645 | (957,163) |
Cash flows from investing activities: | ||
Proceeds from sale of property, plant and equipment | 0 | 4,000,000 |
Purchase of property, plant and equipment | (550,629) | (68,275) |
Net cash (used in) provided by investing activities | (550,629) | 3,931,725 |
Cash flows from financing activities: | ||
Proceeds from sale of stock and exercise of options and warrants | 7,127 | 74,105 |
Payments on financing lease | (4,770) | (6,332) |
Proceeds from the issuance of notes payable | 452,100 | 0 |
Principal payments on notes payable | (50,792) | (524,532) |
Net cash provided by (used in) financing activities | 403,665 | (456,759) |
Net increase in cash, cash equivalents, and restricted cash | 550,681 | 2,517,803 |
Cash, cash equivalents, and restricted cash at beginning of period | 3,215,866 | 1,305,603 |
Cash, cash equivalents, and restricted cash at end of period | 3,766,547 | 3,823,406 |
Supplemental disclosure of cash flow activities: | ||
Cash paid for interest | 159,926 | 49,699 |
Supplemental disclosure of noncash financing and investing transactions | ||
Decrease in accrued interest and increase in equity for conversion of dividends to stock | 90,660 | 204,480 |
Increase in equity and decrease in liability for the conversion of preferred stock | 0 | 675,000 |
Cash and cash equivalents | 2,897,208 | 2,989,236 |
Restricted cash included in long-term assets | 869,339 | 834,170 |
Total cash, cash equivalents, and restricted cash shown in statement of cash flows | $ 3,766,547 | $ 3,823,406 |
Condensed Consolidated Statemen
Condensed Consolidated Statement of Stockholders' (Deficit) Equity (Unaudited) - USD ($) | Restricted Stock Units (RSUs) [Member] Common Stock [Member] | Restricted Stock Units (RSUs) [Member] Additional Paid-in Capital [Member] | Restricted Stock Units (RSUs) [Member] Retained Earnings [Member] | Restricted Stock Units (RSUs) [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2021 | 502,584,176 | |||||||
Balance at Dec. 31, 2021 | $ 5,025,842 | $ 124,469,034 | $ (126,764,081) | $ 2,730,795 | ||||
Shares issued under employee stock purchase plan (in shares) | 172,534 | |||||||
Shares issued under employee stock purchase plan | $ 1,726 | 10,579 | 0 | 12,305 | ||||
Stock grant (in shares) | 187,231 | |||||||
Stock grant | $ 1,872 | (1,872) | 0 | 0 | ||||
Stock in lieu of dividends on convertible preferred C (in shares) | 2,271,980 | |||||||
Decrease in accrued interest and increase in equity for conversion of dividends to stock | $ 22,720 | 181,760 | 0 | 204,480 | ||||
Stock based compensation | 0 | 297,243 | 0 | 297,243 | ||||
Net (loss) income | $ 0 | 0 | 414,328 | 414,328 | ||||
Shares issued for exercise of employee stock options (in shares) | 648,948 | |||||||
Shares issued for exercise of employee stock options | $ 6,489 | (6,489) | 0 | 0 | ||||
Warrant exercise (in shares) | 515,000 | |||||||
Warrant exercise | $ 5,150 | 56,650 | 0 | 61,800 | ||||
Conversion of preferred B stock (in shares) | 8,437,500 | |||||||
Conversion of preferred B stock | $ 84,375 | 590,625 | 675,000 | |||||
Balance (in shares) at Sep. 30, 2022 | 514,817,369 | |||||||
Balance at Sep. 30, 2022 | $ 5,148,174 | 125,597,530 | (126,349,753) | 4,395,951 | ||||
Balance (in shares) at Jun. 30, 2022 | 514,726,908 | |||||||
Balance at Jun. 30, 2022 | $ 5,147,269 | 125,535,534 | (125,781,084) | 4,901,719 | ||||
Shares issued under employee stock purchase plan (in shares) | 52,624 | |||||||
Shares issued under employee stock purchase plan | $ 527 | 2,605 | 0 | 3,132 | ||||
Stock based compensation | 0 | 59,769 | 0 | 59,769 | ||||
Net (loss) income | $ 0 | 0 | (568,669) | (568,669) | ||||
Shares issued for exercise of employee stock options (in shares) | 37,837 | |||||||
Shares issued for exercise of employee stock options | $ 378 | (378) | 0 | 0 | ||||
Balance (in shares) at Sep. 30, 2022 | 514,817,369 | |||||||
Balance at Sep. 30, 2022 | $ 5,148,174 | 125,597,530 | (126,349,753) | 4,395,951 | ||||
Balance (in shares) at Dec. 31, 2022 | 514,889,916 | |||||||
Balance at Dec. 31, 2022 | $ 5,148,899 | 125,654,486 | (126,460,843) | 4,342,542 | ||||
Shares issued under employee stock purchase plan (in shares) | 279,534 | |||||||
Shares issued under employee stock purchase plan | $ 2,795 | 4,332 | 0 | 7,127 | ||||
Stock grant (in shares) | 1,971,028 | 343,560 | ||||||
Stock grant | $ 3,436 | (3,436) | 0 | 0 | ||||
Stock in lieu of dividends on convertible preferred C (in shares) | 2,266,500 | |||||||
Decrease in accrued interest and increase in equity for conversion of dividends to stock | $ 22,665 | 67,995 | 0 | 90,660 | ||||
Shares issued for issuance of RSUs | $ 19,710 | $ (19,710) | $ 0 | $ 0 | ||||
Stock based compensation | 0 | 398,727 | 0 | 398,727 | ||||
Net (loss) income | $ 0 | 0 | (759,961) | $ (759,961) | ||||
Shares issued for exercise of employee stock options (in shares) | 0 | |||||||
Balance (in shares) at Sep. 30, 2023 | 519,750,538 | |||||||
Balance at Sep. 30, 2023 | $ 5,197,505 | 126,102,394 | (127,220,804) | $ 4,079,095 | ||||
Balance (in shares) at Jun. 30, 2023 | 517,941,366 | |||||||
Balance at Jun. 30, 2023 | $ 5,179,414 | 125,944,357 | (126,872,199) | 4,251,572 | ||||
Shares issued under employee stock purchase plan (in shares) | 88,144 | |||||||
Shares issued under employee stock purchase plan | $ 881 | 1,366 | 0 | 2,247 | ||||
Stock grant (in shares) | 1,721,028 | |||||||
Shares issued for issuance of RSUs | $ 17,210 | $ (17,210) | $ 0 | $ 0 | ||||
Stock based compensation | 0 | 173,881 | 0 | 173,881 | ||||
Net (loss) income | $ 0 | 0 | (348,605) | (348,605) | ||||
Balance (in shares) at Sep. 30, 2023 | 519,750,538 | |||||||
Balance at Sep. 30, 2023 | $ 5,197,505 | $ 126,102,394 | $ (127,220,804) | $ 4,079,095 |
Note 1 - The Company and Basis
Note 1 - The Company and Basis of Presentation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | ( 1 International Isotopes Inc. (INIS) was incorporated in Texas in November 1995. Nature of Operations 131 2023, four With the exception of certain unique products, the Company’s normal operating cycle is considered to be one two three not one Principles of Consolidation 4 Interim Financial Information not not three nine September 30, 2023 not may December 31, 2023 10 December 31, 2022 April 6, 2023, May 3, 2023. Recent Accounting Pronouncements August 2020, 2020 06 470 20 815 40 December 15, 2023 |
Note 2 - Current Developments a
Note 2 - Current Developments and Liquidity | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | ( 2 Business Condition nine September 30, 2023 nine September 30, 2022 During the three nine September 30, 2023 The Company holds a Nuclear Regulatory Commission (NRC) construction and operating license for the depleted uranium facility in, as well as the property agreement with, Lea County, New Mexico, where the plant is intended to be constructed. The NRC license for the de-conversion facility is a forty 40 first no The Company expects that cash from operations, equity or debt financing, and its current cash balance will be sufficient to fund operations for the next twelve no |
Note 3 - Net Income (Loss) Per
Note 3 - Net Income (Loss) Per Common Share - Basic and Diluted | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 3 For the three nine September 30, 2023 not For the nine September 30, 2022 not For the three September 30, 2022 not The table below shows the calculation of diluted shares: 3 Months Ended 9 Months Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Weighted average common shares outstanding - basic 518,301,657 514,789,680 517,265,031 509,587,202 Effects of dilutive shares Stock Options — — — 1,470,128 Series C Preferred Stock — — — — Weighted average common shares outstanding - diluted 518,301,657 514,789,680 517,265,031 511,057,330 The table below summarizes common stock equivalents outstanding at September 30, 2023 2022 September 30, 2023 2022 Stock options 26,012,500 24,868,500 Restricted Stock Units 7,000,000 — Shares of Series C Preferred Stock 40,630,000 40,630,000 73,642,500 65,498,500 |
Note 4 - Investment and Busines
Note 4 - Investment and Business Consolidation | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | ( 4 In 2021, 50/50 In June 2023, 510K fifth 2024. |
Note 5 - Stockholders' Equity,
Note 5 - Stockholders' Equity, Options, and Warrants | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | ( 5 Employee Stock Purchase Plan The Company has an employee stock purchase plan pursuant to which employees of the Company may nine September 30, 2023 2022 September 30, 2023 Stock-Based Compensation Plans 2015 April 2015, 2015 2015 July 2015. 2015 July 2018 2015 2015 September 30, 2023 2015 Employee/Director Grants Non-Employee Grants Option awards outstanding as of September 30, 2023 nine September 30, 2023 Weighted Weighted Average Average Remaining Aggregate Fixed Options Shares Exercise Price Contractual Life Intrinsic Value Outstanding at December 31, 2022 24,993,500 $ 0.05 Granted 3,025,000 0.04 Exercised — — Expired (1,000,000 ) 0.09 Forfeited (1,006,000 ) 0.07 Outstanding at September 30, 2023 26,012,500 0.05 5.8 $ 17,000 Exercisable at September 30, 2023 19,582,500 $ 0.05 4.9 $ 15,750 The intrinsic value of outstanding and exercisable shares is based on the closing price of the Company’s common stock on the OTCQB of $0.04 per share on September 29, 2023, three September 30, 2023 As of September 30, 2023 Total stock-based compensation expense for the nine September 30, 2023 2022 Total stock-based compensation expense for the three September 30, 2023 2022 During the nine September 30, 2023 31 five first ten nine September 30, 2023 On February 28, 2023, February 2023 2015 20 not $0.05 February 28, 2023, February 28, 2023 On March 3, 2023, March 3, 2023. On March 3, 2023, three On May 8, 2023, April 17, 2024, April 17, 2025, April 17, 2026. one On September 5, 2023, 2015 September 5, 2023, September 5, 2023 Preferred Stock At September 30, 2023 February 2025 not February 17th 90 $0.25 may During the nine September 30, 2023 2022 nine September 30, 2023 2022 |
Note 6 - Debt
Note 6 - Debt | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 6 In December 2013, one 2013 2013 June 30, 2014. 2013 may December 2019, 2013 December 31, 2021, January 2022, 2013 December 31, 2023, September 30, 2023 2013 2013 nine September 30, 2023 In April 2018, 2018 2018 2018 2018 August 1, 2018. 2018 may 20 June 2018, 2018 March 31, 2019 February 2019, 2018 July 31, 2019 July 2019, 2018 January 31, 2020 December 2019, 2018 December 31, 2021, December 2021, 2018 December 31, 2023, September 30, 2023 2018 In December 2019 February 2020, four 2019 2019 December 31, 2022. 2019 may 20 2019 2019 2019 December 2022, 2019 December 31, 2024, September 30, 2023 2019 2019 In June 2023, not 25th |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 7 Dependence on Third Parties The production of High Specific Activity Cobalt is dependent upon the U.S. Department of Energy (DOE), and its prime operating contractor, which controls the Advanced Test Reactor (ATR) and laboratory operations at the ATR located outside of Idaho Falls, Idaho. In October 2014, ten 60. October 1, 2014 September 30, 2024, may may Sales of our most predominant radiochemical products are dependent upon a few key suppliers. An interruption in production by any of these individual suppliers could have an immediate negative impact upon radiochemical sales until material could be purchased from alternate suppliers including obtaining regulatory approval to use material from alternative suppliers if necessary. The Nuclear Medicine Reference and Calibration Standard products sold by the Company are dependent upon certain radioisotopes that are supplied to the Company through agreements with several suppliers. A loss of any of these suppliers could adversely affect operating results by causing a delay in production or a possible loss of sales. Contingencies Because all the Company’s business segments involve the handling or use of radioactive material, the Company is required to have an operating license from the NRC and specially trained staff to handle these materials. The Company has amended this operating license numerous times to increase the amount of material permitted within the Company’s facility. Although this license does not In August 2011, no no December 31, 2014, 75 no December 31, 2015, not 2015, December 31, 2015, December 31, 2016. not second not may, not not |
Note 8 - Revenue Recognition
Note 8 - Revenue Recognition | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 8 Revenue from Product Sales The following tables present the Company’s revenue disaggregated by business segment and geography, based on management’s assessment of available data: Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Outside Total % of Total Outside Total % of Total U.S. U.S. Revenues Revenues U.S. U.S. Revenues Revenues Radiochemical Products $ 1,413,722 $ 121,176 $ 1,534,898 53 % $ 1,140,535 $ 158,132 $ 1,298,667 47 % Cobalt Products 289,333 39,645 328,978 11 % 412,811 11,920 424,731 15 % Nuclear Medicine Products 832,279 222,401 1,054,680 36 % 859,933 205,942 1,065,875 38 % Fluorine Products — — — 0 % — — — 0 % $ 2,535,334 $ 383,222 $ 2,918,556 100 % $ 2,413,279 $ 375,994 $ 2,789,273 100 % Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Outside Total % of Total Outside Total % of Total U.S. U.S. Revenues Revenues U.S. U.S. Revenues Revenues Radiochemical Products $ 4,644,151 $ 389,186 $ 5,033,337 55 % $ 3,917,106 $ 387,523 $ 4,304,629 53 % Cobalt Products 826,886 108,658 935,544 10 % 668,563 27,220 695,783 9 % Nuclear Medicine Products 2,436,391 714,984 3,151,375 35 % 2,444,469 586,641 3,031,110 38 % Fluorine Products — — — 0 % — — — 0 % $ 7,907,428 $ 1,212,828 $ 9,120,256 100 % $ 7,030,138 $ 1,001,384 $ 8,031,522 100 % The Company’s revenue consists primarily of distribution of radiochemicals including sodium iodide I- 131 one two three not nine September 30, 2023 December 31, 2022 Contract Balances The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied. As of September 30, 2023 December 31, 2022 nine September 30, 2023 not |
Note 9 - Leases
Note 9 - Leases | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases and Finance Leases [Text Block] | ( 9 The Company leases office and warehouse space under operating leases. Right-of-use assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments under the lease. Operating lease, right-of-use assets, and liabilities are recognized at the lease commencement date based on the present value of lease payments over the reasonably certain lease term. The implicit rates with the Company’s operating leases are generally not may Nine Months Ended September 30, 2023 2022 Operating lease costs $ 215,331 $ 213,382 Short-term operating lease costs 5,400 7,996 Financing lease expense: Amortization of right-of-use assets 5,281 6,331 Interest on lease liabilities 339 899 Total financing lease expense 5,620 7,230 Total lease expense $ 226,351 $ 228,608 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ — Right-of-use assets obtained in exchange for new financing lease liabilities $ — $ — Weighted-average remaining lease term (years) - operating leases 11.3 12.3 Weighted-average remaining lease term (years) - financing leases 1.2 1.6 Weighted-average discount rate - operating leases 6.75 % 6.75 % Weighted-average discount rate - financing leases 6.75 % 8.22 % The future minimum payments under these operating lease agreements are as follows: Operating Leases Financing Leases 2023 (excluding the nine-months ended September 30, 2023) $ 71,777 $ 799 2024 287,108 2,929 2025 287,108 — 2026 287,108 — 2027 287,108 — Thereafter 2,025,192 — Total minimum lease obligations 3,245,401 3,728 Less-amounts representing interest (979,430 ) (153 ) Present value of minimum lease obligations 2,265,971 3,575 Current maturities (138,384 ) (3,047 ) Lease obligations, net of current maturities $ 2,127,587 $ 528 |
Note 10 - Segment Information
Note 10 - Segment Information | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 10 The Company has four Information regarding the operations and assets of these reportable business segments is contained in the following table: Three months ended September 30, Nine months ended September 30, Sale of Product 2023 2022 2023 2022 Radiochemical Products $ 1,534,898 $ 1,298,667 $ 5,033,337 $ 4,304,629 Cobalt Products 328,978 424,731 935,544 695,783 Nuclear Medicine Standards 1,054,680 1,065,875 3,151,375 3,031,110 Fluorine Products — — — — Total Segments 2,918,556 2,789,273 9,120,256 8,031,522 Corporate revenue — — — — Total Consolidated $ 2,918,556 $ 2,789,273 $ 9,120,256 $ 8,031,522 Three months ended September 30, Nine months ended September 30, Depreciation and Amortization 2023 2022 2023 2022 Radiochemical Products $ 5,674 $ 7,102 $ 19,498 $ 56,447 Cobalt Products 13,142 12,087 39,118 36,368 Nuclear Medicine Standards 28,353 28,710 86,462 85,943 Fluorine Products 28,969 26,095 86,909 78,285 Total Segments 76,138 73,994 231,987 257,043 Corporate depreciation and amortization 10,493 10,502 30,042 31,004 Total Consolidated $ 86,631 $ 84,496 $ 262,029 $ 288,047 Three months ended September 30, Nine months ended September 30, Segment Income (Loss) 2023 2022 2023 2022 Radiochemical Products $ 687,413 $ 454,223 $ 2,171,980 $ 3,430,516 Cobalt Products 90,713 (134,044 ) 118,108 (189,451 ) Nuclear Medicine Standards 74,716 65,171 213,229 76,743 Fluorine Products (27,870 ) (37,204 ) (79,004 ) (111,377 ) Total Segments 824,972 348,146 2,424,313 3,206,431 Corporate loss (1,173,577 ) (916,815 ) (3,184,274 ) (2,792,103 ) Net Income $ (348,605 ) $ (568,669 ) $ (759,961 ) $ 414,328 Three months ended September 30, Nine months ended September 30, Expenditures for Segment Assets 2023 2022 2023 2022 Radiochemical Products $ — $ — $ — $ — Cobalt Products — — 6,165 — Nuclear Medicine Standards 484,107 4,150 487,237 55,250 Fluorine Products — — — 4,100 Total Segments 484,107 4,150 493,402 59,350 Corporate purchases — 8,925 57,227 8,925 Total Consolidated $ 484,107 $ 13,075 $ 550,629 $ 68,275 September 30, December 31, Segment Assets 2023 2022 Radiochemical Products $ 812,792 $ 1,075,252 Cobalt Products 390,857 406,629 Nuclear Medicine Standards 3,195,310 2,744,394 Fluorine Products 5,006,213 5,147,325 Total Segments 9,405,172 9,373,600 Corporate assets 6,780,270 6,870,996 Total Consolidated $ 16,185,442 $ 16,244,596 |
Note 3 - Net Income (Loss) Pe_2
Note 3 - Net Income (Loss) Per Common Share - Basic and Diluted (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Weighted Average Number of Shares [Table Text Block] | 3 Months Ended 9 Months Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 Weighted average common shares outstanding - basic 518,301,657 514,789,680 517,265,031 509,587,202 Effects of dilutive shares Stock Options — — — 1,470,128 Series C Preferred Stock — — — — Weighted average common shares outstanding - diluted 518,301,657 514,789,680 517,265,031 511,057,330 |
Schedule of Stock by Class [Table Text Block] | September 30, 2023 2022 Stock options 26,012,500 24,868,500 Restricted Stock Units 7,000,000 — Shares of Series C Preferred Stock 40,630,000 40,630,000 73,642,500 65,498,500 |
Note 5 - Stockholders' Equity_2
Note 5 - Stockholders' Equity, Options, and Warrants (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Fixed Options Shares Exercise Price Contractual Life Intrinsic Value Outstanding at December 31, 2022 24,993,500 $ 0.05 Granted 3,025,000 0.04 Exercised — — Expired (1,000,000 ) 0.09 Forfeited (1,006,000 ) 0.07 Outstanding at September 30, 2023 26,012,500 0.05 5.8 $ 17,000 Exercisable at September 30, 2023 19,582,500 $ 0.05 4.9 $ 15,750 |
Note 8 - Revenue Recognition (T
Note 8 - Revenue Recognition (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, 2023 Three Months Ended September 30, 2022 Outside Total % of Total Outside Total % of Total U.S. U.S. Revenues Revenues U.S. U.S. Revenues Revenues Radiochemical Products $ 1,413,722 $ 121,176 $ 1,534,898 53 % $ 1,140,535 $ 158,132 $ 1,298,667 47 % Cobalt Products 289,333 39,645 328,978 11 % 412,811 11,920 424,731 15 % Nuclear Medicine Products 832,279 222,401 1,054,680 36 % 859,933 205,942 1,065,875 38 % Fluorine Products — — — 0 % — — — 0 % $ 2,535,334 $ 383,222 $ 2,918,556 100 % $ 2,413,279 $ 375,994 $ 2,789,273 100 % Nine Months Ended September 30, 2023 Nine Months Ended September 30, 2022 Outside Total % of Total Outside Total % of Total U.S. U.S. Revenues Revenues U.S. U.S. Revenues Revenues Radiochemical Products $ 4,644,151 $ 389,186 $ 5,033,337 55 % $ 3,917,106 $ 387,523 $ 4,304,629 53 % Cobalt Products 826,886 108,658 935,544 10 % 668,563 27,220 695,783 9 % Nuclear Medicine Products 2,436,391 714,984 3,151,375 35 % 2,444,469 586,641 3,031,110 38 % Fluorine Products — — — 0 % — — — 0 % $ 7,907,428 $ 1,212,828 $ 9,120,256 100 % $ 7,030,138 $ 1,001,384 $ 8,031,522 100 % |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Nine Months Ended September 30, 2023 2022 Operating lease costs $ 215,331 $ 213,382 Short-term operating lease costs 5,400 7,996 Financing lease expense: Amortization of right-of-use assets 5,281 6,331 Interest on lease liabilities 339 899 Total financing lease expense 5,620 7,230 Total lease expense $ 226,351 $ 228,608 Right-of-use assets obtained in exchange for new operating lease liabilities $ — $ — Right-of-use assets obtained in exchange for new financing lease liabilities $ — $ — Weighted-average remaining lease term (years) - operating leases 11.3 12.3 Weighted-average remaining lease term (years) - financing leases 1.2 1.6 Weighted-average discount rate - operating leases 6.75 % 6.75 % Weighted-average discount rate - financing leases 6.75 % 8.22 % |
Lessee, Liability, to be Paid, Maturity [ Table Text Block] | Operating Leases Financing Leases 2023 (excluding the nine-months ended September 30, 2023) $ 71,777 $ 799 2024 287,108 2,929 2025 287,108 — 2026 287,108 — 2027 287,108 — Thereafter 2,025,192 — Total minimum lease obligations 3,245,401 3,728 Less-amounts representing interest (979,430 ) (153 ) Present value of minimum lease obligations 2,265,971 3,575 Current maturities (138,384 ) (3,047 ) Lease obligations, net of current maturities $ 2,127,587 $ 528 |
Note 10 - Segment Information (
Note 10 - Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended September 30, Nine months ended September 30, Sale of Product 2023 2022 2023 2022 Radiochemical Products $ 1,534,898 $ 1,298,667 $ 5,033,337 $ 4,304,629 Cobalt Products 328,978 424,731 935,544 695,783 Nuclear Medicine Standards 1,054,680 1,065,875 3,151,375 3,031,110 Fluorine Products — — — — Total Segments 2,918,556 2,789,273 9,120,256 8,031,522 Corporate revenue — — — — Total Consolidated $ 2,918,556 $ 2,789,273 $ 9,120,256 $ 8,031,522 Three months ended September 30, Nine months ended September 30, Depreciation and Amortization 2023 2022 2023 2022 Radiochemical Products $ 5,674 $ 7,102 $ 19,498 $ 56,447 Cobalt Products 13,142 12,087 39,118 36,368 Nuclear Medicine Standards 28,353 28,710 86,462 85,943 Fluorine Products 28,969 26,095 86,909 78,285 Total Segments 76,138 73,994 231,987 257,043 Corporate depreciation and amortization 10,493 10,502 30,042 31,004 Total Consolidated $ 86,631 $ 84,496 $ 262,029 $ 288,047 Three months ended September 30, Nine months ended September 30, Segment Income (Loss) 2023 2022 2023 2022 Radiochemical Products $ 687,413 $ 454,223 $ 2,171,980 $ 3,430,516 Cobalt Products 90,713 (134,044 ) 118,108 (189,451 ) Nuclear Medicine Standards 74,716 65,171 213,229 76,743 Fluorine Products (27,870 ) (37,204 ) (79,004 ) (111,377 ) Total Segments 824,972 348,146 2,424,313 3,206,431 Corporate loss (1,173,577 ) (916,815 ) (3,184,274 ) (2,792,103 ) Net Income $ (348,605 ) $ (568,669 ) $ (759,961 ) $ 414,328 Three months ended September 30, Nine months ended September 30, Expenditures for Segment Assets 2023 2022 2023 2022 Radiochemical Products $ — $ — $ — $ — Cobalt Products — — 6,165 — Nuclear Medicine Standards 484,107 4,150 487,237 55,250 Fluorine Products — — — 4,100 Total Segments 484,107 4,150 493,402 59,350 Corporate purchases — 8,925 57,227 8,925 Total Consolidated $ 484,107 $ 13,075 $ 550,629 $ 68,275 September 30, December 31, Segment Assets 2023 2022 Radiochemical Products $ 812,792 $ 1,075,252 Cobalt Products 390,857 406,629 Nuclear Medicine Standards 3,195,310 2,744,394 Fluorine Products 5,006,213 5,147,325 Total Segments 9,405,172 9,373,600 Corporate assets 6,780,270 6,870,996 Total Consolidated $ 16,185,442 $ 16,244,596 |
Note 1 - The Company and Basi_2
Note 1 - The Company and Basis of Presentation (Details Textual) | 9 Months Ended |
Sep. 30, 2023 | |
Number of Operating Segments | 4 |
Note 2 - Current Developments_2
Note 2 - Current Developments and Liquidity (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net Income (Loss) Attributable to Parent | $ (348,605) | $ (568,669) | $ (759,961) | $ 414,328 |
Net Cash Provided by (Used in) Operating Activities | $ 697,645 | $ (957,163) |
Note 3 - Net Income (Loss) Pe_3
Note 3 - Net Income (Loss) Per Common Share - Basic and Diluted (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Series C Preferred Stock [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 4,063 | 4,063 | 4,063 | 4,063 |
Share-Based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 26,012,500 | 24,868,500 | 26,012,500 | 21,718,500 |
Restricted Stock Units (RSUs) [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 7,000,000 | 7,000,000 |
Note 3 - Net Income (Loss) Pe_4
Note 3 - Net Income (Loss) Per Common Share - Basic and Diluted - Calculation of Diluted Shares (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Weighted average common shares outstanding - basic (in shares) | 518,301,657 | 514,789,680 | 517,265,031 | 509,587,202 |
Weighted average common shares outstanding - diluted (in shares) | 518,301,657 | 514,789,680 | 517,265,031 | 511,057,330 |
Series C Preferred Stock [Member] | ||||
Effects if dilutive shares (in shares) | 0 | 0 | 0 | 0 |
Share-Based Payment Arrangement, Option [Member] | ||||
Effects if dilutive shares (in shares) | 0 | 0 | 0 | 1,470,128 |
Note 3 - Net Income (Loss) Pe_5
Note 3 - Net Income (Loss) Per Common Share - Basic and Diluted - Schedule of Common Stock Equivalents Outstanding (Details) - shares | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 |
Stock options (in shares) | 26,012,500 | 24,993,500 | 24,868,500 |
Common Stock, Other Shares, Outstanding | 73,642,500 | 65,498,500 | |
Series C Preferred Stock [Member] | |||
Shares of Series C Preferred Stock (in shares) | 40,630,000 | 40,630,000 | |
Restricted Stock Units (RSUs) [Member] | |||
Restricted Stock Units (in shares) | 7,000,000 | 0 |
Note 5 - Stockholders' Equity_3
Note 5 - Stockholders' Equity, Options, and Warrants (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||
Sep. 05, 2023 | May 08, 2023 | Mar. 03, 2023 | Feb. 28, 2023 | Jul. 31, 2018 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Mar. 02, 2023 | Dec. 31, 2022 | |
Share Price (in dollars per share) | $ 0.06 | $ 0.04 | $ 0.04 | $ 0.04 | |||||||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 129,446 | $ 129,446 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 3,025,000 | ||||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.04 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 26,012,500 | 24,868,500 | 26,012,500 | 24,868,500 | 24,993,500 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 0.05 | $ 0.05 | $ 0.05 | ||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures in Period (in shares) | 1,000,000 | 1,006,000 | |||||||||
Series C Preferred Stock [Member] | |||||||||||
Preferred Stock, Shares Outstanding (in shares) | 4,063 | 4,063 | |||||||||
Preferred Stock, Redemption Price Per Share (in dollars per share) | $ 1,000 | $ 1,000 | |||||||||
Preferred Stock, Dividend Rate, Percentage | 6% | ||||||||||
Preferred Stock, Convertible, Conversion Price (in dollars per share) | $ 0.1 | $ 0.1 | |||||||||
Dividends | $ 243,780 | $ 243,780 | |||||||||
Common Stock Dividends, Shares (in shares) | 2,266,500 | 2,271,980 | |||||||||
Dividends, Preferred Stock | $ 90,660 | $ 204,480 | |||||||||
Dividends, Preferred Stock, Cash | $ 153,120 | 39,300 | |||||||||
Stock Option Repricing [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number (in shares) | 12,450,000 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 0.04 | ||||||||||
Stock Option Repricing [Member] | Exercise Price One [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 0.06 | ||||||||||
Stock Option Repricing [Member] | Exercise Price Two [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | 0.09 | ||||||||||
Stock Option Repricing [Member] | Exercise Price Three [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 0.11 | ||||||||||
The 2015 Incentive Plan [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 19,067,546 | 19,067,546 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 20,000,000 | ||||||||||
The 2015 Incentive Plan [Member] | Chief Executive Officer [Member] | |||||||||||
Share-Based Payment Arrangement, Expense | $ 22,400 | ||||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, before Forfeiture (in shares) | 560,000 | ||||||||||
Shares Issued, Value, Share-Based Payment Arrangement, before Forfeiture | $ 28,000 | ||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.05 | ||||||||||
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 216,440 | ||||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture (in shares) | 343,560 | ||||||||||
Employee Stock Purchase Plan [Member] | |||||||||||
Proceeds from Stock Plans | $ 7,127 | 12,304 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 2,261,876 | 2,261,876 | |||||||||
Share-Based Payment Arrangement, Option [Member] | |||||||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 9 months 3 days | ||||||||||
Share-Based Payment Arrangement, Expense | $ 173,881 | $ 59,769 | $ 398,727 | $ 297,243 | |||||||
Qualified Options [Member] | Share-Based Payment Arrangement, Employee [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares) | 3,025,000 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 5 years | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Expiration Period (Year) | 10 years | ||||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.04 | $ 0.06 | |||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested in Period, Fair Value | $ 79,532 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0% | ||||||||||
Qualified Options [Member] | Share-Based Payment Arrangement, Employee [Member] | Minimum [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 3.94% | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 68.65% | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term (Year) | 5 years | ||||||||||
Qualified Options [Member] | Share-Based Payment Arrangement, Employee [Member] | Maximum [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 4.26% | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 74.16% | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term (Year) | 7 years | ||||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Year) | 3 years | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Granted (in shares) | 750,000 | ||||||||||
Restricted Stock Units (RSUs) [Member] | President [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 2,500,000 | ||||||||||
Share-Based Payment Arrangement, Expense | $ 150,000 | ||||||||||
Share-Based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | 778,972 | ||||||||||
Shares Issued, Shares, Share-Based Payment Arrangement, after Forfeiture (in shares) | 1,721,028 | ||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 6,500,000 | ||||||||||
Restricted Stock Units (RSUs) [Member] | President [Member] | Share-Based Payment Arrangement, Tranche One [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 1,500,000 | ||||||||||
Restricted Stock Units (RSUs) [Member] | President [Member] | Share-Based Payment Arrangement, Tranche Two [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 2,000,000 | ||||||||||
Restricted Stock Units (RSUs) [Member] | President [Member] | Share-Based Payment Arrangement, Tranche Three [Member] | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 3,000,000 | ||||||||||
Employee Stock Purchase Plan [Member] | |||||||||||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in shares) | 279,534 | 172,534 |
Note 5 - Stockholders' Equity_4
Note 5 - Stockholders' Equity, Options, and Warrants - Option Activity (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |
Mar. 03, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | |
Outstanding (in shares) | 24,993,500 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 0.05 | ||
Granted (in shares) | 3,025,000 | ||
Granted, weighted average exercise price (in dollars per share) | $ 0.04 | ||
Shares issued for exercise of employee stock options (in shares) | 0 | ||
Exercised, weighted average exercise price (in dollars per share) | $ 0 | ||
Expired (in shares) | (1,000,000) | ||
Expired, weighted average exercise price (in dollars per share) | $ 0.09 | ||
Forfeited (in shares) | (1,000,000) | (1,006,000) | |
Forfeited, weighted average exercise price (in dollars per share) | $ 0.07 | ||
Outstanding (in shares) | 24,868,500 | 26,012,500 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 0.05 | ||
Outstanding, weighted average remaining contractual life (Year) | 5 years 9 months 18 days | ||
Outstanding, aggregate intrinsic value | $ 17,000 | ||
Exercisable at September 30, 2023 (in shares) | 19,582,500 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 0.05 | ||
Exercisable, weighted average remaining contractual life (Year) | 4 years 10 months 24 days | ||
Exercisable, aggregate intrinsic value | $ 15,750 |
Note 6 - Debt (Details Textual)
Note 6 - Debt (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | |||
Feb. 28, 2020 | Jun. 30, 2023 | Sep. 30, 2023 | Apr. 30, 2018 | Dec. 31, 2013 | |
The 2013 Promissory Note [Member] | Former Chairman of the Board [Member] | |||||
Notes Payable | $ 500,000 | $ 500,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||||
Interest Payable | 294,234 | ||||
Interest Expense, Debt | 22,500 | ||||
The 2018 Promissory Note [Member] | Chief Executive Officer and Chairman of the Board [Member] | |||||
Notes Payable | $ 120,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 6% | ||||
Interest Payable | 39,170 | ||||
The 2019 Promissory Note [Member] | Four Major Shareholders [Member] | |||||
Notes Payable | $ 1,000,000 | 1,000,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 4% | ||||
Interest Payable | $ 149,131 | ||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 315,643 | ||||
The 2019 Promissory Note [Member] | Four Major Shareholders [Member] | Class O Warrants [Member] | |||||
Class of Warrant or Right, Outstanding (in shares) | 30,000,000 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.045 | ||||
Warrants and Rights Outstanding | $ 446,079 | ||||
Promissory Agreement With AMICI [Member] | |||||
Debt Instrument, Face Amount | $ 427,100 | ||||
Debt Instrument, Periodic Payment | $ 10,000 | ||||
Debt Instrument, Term (Month) | 45 months |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Details Textual) - USD ($) | Sep. 30, 2023 | Oct. 31, 2014 | Aug. 31, 2011 |
Other Commitments, Annual Fixed Price, Escalation Percent | 5% | ||
Restricted Cash and Investments | $ 869,339 | ||
Land in Lea County, New Mexico [Member] | |||
Property, Plant, and Equipment, Fair Value Disclosure | $ 776,078 | ||
Investment Interest Rate | 5.25% |
Note 8 - Revenue Recognition (D
Note 8 - Revenue Recognition (Details Textual) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Deferred Revenue, Current | $ 1,004,867 | $ 879,365 |
Accounts Receivable, after Allowance for Credit Loss, Current | $ 1,382,701 | $ 1,596,886 |
Note 8 - Revenue Recognition -
Note 8 - Revenue Recognition - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Revenues | $ 2,918,556 | $ 2,789,273 | $ 9,120,256 | $ 8,031,522 |
Percent of total revenues | 100% | 100% | 100% | 100% |
Radiochemical Products [Member] | ||||
Revenues | $ 1,534,898 | $ 1,298,667 | $ 5,033,337 | $ 4,304,629 |
Percent of total revenues | 53% | 47% | 55% | 53% |
Cobalt Products [Member] | ||||
Revenues | $ 328,978 | $ 424,731 | $ 935,544 | $ 695,783 |
Percent of total revenues | 11% | 15% | 10% | 9% |
Nuclear Medicine Products [Member] | ||||
Revenues | $ 1,054,680 | $ 1,065,875 | $ 3,151,375 | $ 3,031,110 |
Percent of total revenues | 36% | 38% | 35% | 38% |
Fluorine Products [Member] | ||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Percent of total revenues | 0% | 0% | 0% | 0% |
UNITED STATES | ||||
Revenues | $ 2,535,334 | $ 2,413,279 | $ 7,907,428 | $ 7,030,138 |
UNITED STATES | Radiochemical Products [Member] | ||||
Revenues | 1,413,722 | 1,140,535 | 4,644,151 | 3,917,106 |
UNITED STATES | Cobalt Products [Member] | ||||
Revenues | 289,333 | 412,811 | 826,886 | 668,563 |
UNITED STATES | Nuclear Medicine Products [Member] | ||||
Revenues | 832,279 | 859,933 | 2,436,391 | 2,444,469 |
UNITED STATES | Fluorine Products [Member] | ||||
Revenues | 0 | 0 | 0 | 0 |
Non-US [Member] | ||||
Revenues | 383,222 | 375,994 | 1,212,828 | 1,001,384 |
Non-US [Member] | Radiochemical Products [Member] | ||||
Revenues | 121,176 | 158,132 | 389,186 | 387,523 |
Non-US [Member] | Cobalt Products [Member] | ||||
Revenues | 39,645 | 11,920 | 108,658 | 27,220 |
Non-US [Member] | Nuclear Medicine Products [Member] | ||||
Revenues | 222,401 | 205,942 | 714,984 | 586,641 |
Non-US [Member] | Fluorine Products [Member] | ||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 |
Note 9 - Leases - Lease Cost (D
Note 9 - Leases - Lease Cost (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Operating lease costs | $ 215,331 | $ 213,382 |
Short-term operating lease costs | 5,400 | 7,996 |
Amortization of right-of-use assets | 5,281 | 6,331 |
Interest on lease liabilities | 339 | 899 |
Total financing lease expense | 5,620 | 7,230 |
Total lease expense | 226,351 | 228,608 |
Right-of-use assets obtained in exchange for new operating lease liabilities | 0 | 0 |
Right-of-use assets obtained in exchange for new financing lease liabilities | $ 0 | $ 0 |
Weighted-average remaining lease term (years) - operating leases (Year) | 11 years 3 months 18 days | 12 years 3 months 18 days |
Weighted-average remaining lease term (years) - financing leases (Year) | 1 year 2 months 12 days | 1 year 7 months 6 days |
Weighted-average discount rate - operating leases | 6.75% | 6.75% |
Weighted-average discount rate - financing leases | 6.75% | 8.22% |
Note 9 - Leases - Schedule of F
Note 9 - Leases - Schedule of Future Minimum Lease Payments (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Operating lease, 2023 | $ 71,777 | |
Finance lease, 2023 | 799 | |
Operating lease, 2024 | 287,108 | |
Finance lease, 2024 | 2,929 | |
Operating lease, 2025 | 287,108 | |
Finance lease, 2025 | 0 | |
Operating lease, 2026 | 287,108 | |
Finance lease, 2026 | 0 | |
Operating lease, 2027 | 287,108 | |
Finance lease, 2027 | 0 | |
Operating lease, Thereafter | 2,025,192 | |
Finance lease, Thereafter | 0 | |
Total minimum operating lease obligations | 3,245,401 | |
Total minimum finance lease obligations | 3,728 | |
Operating lease, Less-amounts representing interest | (979,430) | |
Finance lease, Less-amounts representing interest | (153) | |
Present value of minimum operating lease obligations | 2,265,971 | |
Present value of minimum finance lease obligations | 3,575 | |
Current operating leasematurities | (138,384) | $ (131,572) |
Current finance lease maturities | (3,047) | (5,513) |
Operating lease obligations, net of current maturities | 2,127,587 | 2,232,244 |
Finance lease obligations, net of current maturities | $ 528 | $ 2,832 |
Note 10 - Segment Information_2
Note 10 - Segment Information (Details Textual) | 9 Months Ended |
Sep. 30, 2023 | |
Number of Reportable Segments | 4 |
Note 10 - Segment Information -
Note 10 - Segment Information - Schedule of Segment Information by Segment (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Sale of product | $ 2,918,556 | $ 2,789,273 | $ 9,120,256 | $ 8,031,522 | |
Depreciation and amortization | 86,631 | 84,496 | 262,029 | 288,047 | |
Net (loss) income | (348,605) | (568,669) | (759,961) | 414,328 | |
Expenditures for segment assets | 484,107 | 13,075 | 550,629 | 68,275 | |
Segment assets | 16,185,442 | 16,185,442 | $ 16,244,596 | ||
Radiochemical Products [Member] | |||||
Sale of product | 1,534,898 | 1,298,667 | 5,033,337 | 4,304,629 | |
Cobalt Products [Member] | |||||
Sale of product | 328,978 | 424,731 | 935,544 | 695,783 | |
Nuclear Medicine Products [Member] | |||||
Sale of product | 1,054,680 | 1,065,875 | 3,151,375 | 3,031,110 | |
Fluorine Products [Member] | |||||
Sale of product | 0 | 0 | 0 | 0 | |
Operating Segments [Member] | |||||
Sale of product | 2,918,556 | 2,789,273 | 9,120,256 | 8,031,522 | |
Depreciation and amortization | 76,138 | 73,994 | 231,987 | 257,043 | |
Net (loss) income | 824,972 | 348,146 | 2,424,313 | 3,206,431 | |
Expenditures for segment assets | 484,107 | 4,150 | 493,402 | 59,350 | |
Segment assets | 9,405,172 | 9,405,172 | 9,373,600 | ||
Operating Segments [Member] | Radiochemical Products [Member] | |||||
Sale of product | 1,534,898 | 1,298,667 | 5,033,337 | 4,304,629 | |
Depreciation and amortization | 5,674 | 7,102 | 19,498 | 56,447 | |
Net (loss) income | 687,413 | 454,223 | 2,171,980 | 3,430,516 | |
Expenditures for segment assets | 0 | 0 | 0 | 0 | |
Segment assets | 812,792 | 812,792 | 1,075,252 | ||
Operating Segments [Member] | Cobalt Products [Member] | |||||
Sale of product | 328,978 | 424,731 | 935,544 | 695,783 | |
Depreciation and amortization | 13,142 | 12,087 | 39,118 | 36,368 | |
Net (loss) income | 90,713 | (134,044) | 118,108 | (189,451) | |
Expenditures for segment assets | 0 | 0 | 6,165 | 0 | |
Segment assets | 390,857 | 390,857 | 406,629 | ||
Operating Segments [Member] | Nuclear Medicine Products [Member] | |||||
Sale of product | 1,054,680 | 1,065,875 | 3,151,375 | 3,031,110 | |
Depreciation and amortization | 28,353 | 28,710 | 86,462 | 85,943 | |
Net (loss) income | 74,716 | 65,171 | 213,229 | 76,743 | |
Expenditures for segment assets | 484,107 | 4,150 | 487,237 | 55,250 | |
Segment assets | 3,195,310 | 3,195,310 | 2,744,394 | ||
Operating Segments [Member] | Fluorine Products [Member] | |||||
Sale of product | 0 | 0 | 0 | 0 | |
Depreciation and amortization | 28,969 | 26,095 | 86,909 | 78,285 | |
Net (loss) income | (27,870) | (37,204) | (79,004) | (111,377) | |
Expenditures for segment assets | 0 | 0 | 0 | 4,100 | |
Segment assets | 5,006,213 | 5,006,213 | 5,147,325 | ||
Segment Reconciling Items [Member] | |||||
Sale of product | 0 | 0 | 0 | 0 | |
Depreciation and amortization | 10,493 | 10,502 | 30,042 | 31,004 | |
Net (loss) income | (1,173,577) | (916,815) | (3,184,274) | (2,792,103) | |
Expenditures for segment assets | 0 | $ 8,925 | 57,227 | $ 8,925 | |
Segment assets | $ 6,780,270 | $ 6,780,270 | $ 6,870,996 |