Nuo Therapeutics (AURX) 10-Q 13 Aug 18 2018 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Aug. 13, 2018
Document Information [Line Items]
Entity Registrant Name	Nuo Therapeutics, Inc.
Entity Central Index Key	1,091,596
Trading Symbol	aurx
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)		23,722,400
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 373,287	$ 693,515
Accounts and other receivable, net	108,764	114,331
Inventory, net	37,464	35,590
Prepaid expenses and other current assets	132,606	341,671
Total current assets	652,121	1,185,107
Property and equipment, net	155,889	223,616
Deferred costs and other assets	15,316	15,316
Total assets	823,326	1,424,039
Current liabilities
Accounts payable	523,503	380,280
Accrued expenses and liabilities	571,564	556,557
Total current liabilities	1,095,067	936,837
Other liabilities	1,444	4,331
Total liabilities	1,096,511	941,168
Commitments and contingencies (Note 8)
Stockholders' equity (deficit)
Preferred stock; $0.0001 par value, 1,000,000 authorized, 29,038 issued and outstanding; liquidation value of $29,038,000	3	3
Common stock; $0.0001 par value, 31,500,000 authorized, 23,722,400 and 22,722,400 issued and outstanding, respectively	2,372	2,272
Additional paid-in capital	21,659,658	21,155,404
Accumulated deficit	(21,935,218)	(20,674,808)
Total stockholders' equity (deficit)	(273,185)	482,871
Total liabilities and stockholders' equity (deficit)	$ 823,326	$ 1,424,039

Consolidated Balance Sheets (C3

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.001
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	29,038	29,038
Preferred stock, shares outstanding (in shares)	29,038	29,038
Preferred stock, liquidation value	$ 29,038,000	$ 29,038,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	31,500,000	31,500,000
Common stock, shares issued (in shares)	23,722,400	22,722,400
Common stock, shares outstanding (in shares)	23,722,400	22,722,400

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue:
Revenue	$ 138,309	$ 188,600	$ 298,252	$ 361,343
Costs of revenue
Costs of sales	38,223	277,371	87,227	547,458
Total costs of revenue	38,223	277,371	87,227	547,458
Gross profit (loss)	100,086	(88,771)	211,025	(186,115)
Operating expenses
Sales and marketing	20,928	160,681	82,051	374,381
Research and development	140,067	309,486	398,102	708,900
General and administrative	521,755	1,272,599	981,262	2,247,012
Impairment of goodwill		2,079,284		2,079,284
Total operating expenses	682,750	3,822,050	1,461,415	5,409,577
Loss from operations	(582,664)	(3,910,821)	(1,250,390)	(5,595,692)
Other income (expense)
Interest, net	(411)	(1,259)	(367)	(7,838)
Other	(7,088)	19	(9,653)	(1,131)
Total other income (expense)	(7,499)	(1,240)	(10,020)	(8,969)
Net loss	$ (590,163)	$ (3,912,061)	$ (1,260,410)	$ (5,604,661)
Basic (in dollars per share)	$ (0.03)	$ (0.39)	$ (0.06)	$ (0.56)
Diluted (in dollars per share)	(0.03)	(0.39)	(0.06)	(0.56)
Loss per common share
Basic (in dollars per share)	(0.03)	(0.39)	(0.06)	(0.56)
Diluted (in dollars per share)	$ (0.03)	$ (0.39)	$ (0.06)	$ (0.56)
Weighted average common shares outstanding
Basic (in shares)	22,931,191	9,927,112	22,827,372	9,927,112
Diluted (in shares)	22,931,191	9,927,112	22,827,372	9,927,112
Product [Member]
Revenue:
Revenue	$ 80,185	$ 147,715	$ 205,095	$ 260,797
Royalty [Member]
Revenue:
Revenue	$ 58,124	$ 40,885	$ 93,157	$ 100,546

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,260,410)	$ (5,604,661)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	51,789	604,347
Impairment of goodwill		2,079,284
Stock-based compensation	4,354	27,971
Bad debt recovery	(239,660)	(466)
Increase in allowance for inventory obsolescence	949	1,209
Loss (gain) on the disposal of fixed assets	13,938	(1,205)
Changes in operating assets and liabilities:
Accounts and other receivable	245,227	141,257
Inventory	(2,823)	(20,434)
Prepaid expenses and other current assets	209,065	58,172
Other assets		60,417
Accounts payable	143,223	252,353
Accrued expenses and liabilities	15,007	150,441
Other liabilities	(2,887)	(43,091)
Net cash used in operating activities	(822,228)	(2,294,406)
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of equipment	2,000	1,914
Net cash provided by investing activities	2,000	1,914
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	500,000
Net cash provided by financing activities	500,000
Net decrease in cash, cash equivalents, and restricted cash	(320,228)	(2,292,492)
Cash, cash equivalents, and restricted cash at beginning of period	693,515	2,673,526
Cash, cash equivalents, and restricted cash at end of period	373,287	381,034
Supplemental cash flow information
Interest expense paid in cash		8,140
Income taxes paid in cash

Note 1 - Description of Busines

Note 1 - Description of Business and Bankruptcy Proceedings	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Nature of Operations [Text Block]	Note 1 Description of Business Nuo Therapeutics, Inc. (“Nuo Therapeutics,” the “Company,” “we,” “us,” or “our”) is a biomedical company marketing its products primarily within the U.S. We commercialize innovative cell-based technologies that harness the regenerative capacity of the human body to trigger natural healing. The use of autologous (from self) biological therapies for tissue repair and regeneration is part of a transformative clinical strategy designed to improve long term recovery in complex chronic conditions with significant unmet medical needs. Growth opportunities for the Aurix System in the United States in the near to intermediate term include the treatment of chronic wounds with Aurix in: (i) the Medicare population under a National Coverage Determination (“NCD”), when registry data is collected under the Coverage with Evidence Development (“CED”) program of the Centers for Medicare & Medicaid Services (“CMS”); and (ii) the Veterans Affairs (“VA”) healthcare system and other federal accounts settings. As of June 30, 2018, May 5, 2016 ( 6 two May 5, 2016,

Note 2 - Liquidity and Summary

Note 2 - Liquidity and Summary of Significant Accounting Principles	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 Liquidity Our operations are subject to certain risks and uncertainties including, among others, current and potential competitors with greater resources, dependence on significant customers, lack of operating history, uncertainty of future profitability and possible fluctuations in financial results. Since our inception, we have financed our operations by raising debt, issuing equity and equity-linked instruments, and executing licensing arrangements, and to a lesser extent by generating royalties and product revenues. We have incurred, and continue to incur, recurring losses and negative cash flows. As of June 30, 2018, September 30, 2017, 12,800,000 $3.0 June 2018, 1,000,000 $0.5 May 28, 2018 June 30, 2018, $0.4 no The accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations, and potential other funding sources, including cash on hand, to meet our obligations as they become due. We believe based on the operating cash requirements and capital expenditures expected for the next twelve 30 We require additional capital and seek to continue financing our operations with external capital for the foreseeable future. Any equity financings may may may not may not If we are unable to secure sufficient capital to fund our operating activities or we are unable to increase revenues significantly, we may 30 Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not December 31, 2017, not may not 10 December 31, 2017. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned and controlled subsidiary Aldagen, Inc. (“Aldagen”). All significant inter-company accounts and transactions are eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying consolidated financial statements, estimates are used for, but not Credit Concentration We generate accounts receivable from the sale of our products. In addition, other receivables consist primarily of receivable for royalties due for sales of Aldeflour as of June 30, 2018 December 31, 2017 December 31, 2017. 10% June 30, 2018 December 31, 2017 June 30 , 2018 December 31, 2017 Customer A -% 72% Customer B 52% 12% Customer C 14% -% Revenue from significant customers exceeding 10% Three Months ended June 30, 2018 Three Months ended June 30, 2017 Customer B 42% 22% Customer C 15% -% Customer D -% 15% Customer F -% 13% Six Months ended June 30, 2018 Six Months ended June 30, 2017 Customer B 31% 28% Customer C 12% -% Customer D -% 10% Customer E 11% -% Historically, we used single suppliers for several components of the Aurix product line. We outsource the manufacturing of various products to contract manufacturers. While we believe these manufacturers demonstrate competency, reliability and stability, there is no one not Cash Equivalents We consider all highly liquid instruments purchased with an original maturity of three $123,287 $250,000 June 30, 2018. Accounts Receivables, net We generate accounts receivables from the sale of our products. We provide for an allowance against receivables for estimated losses that may not June 30, 2018, $2,000. December 31, 2017, $306,000 March 29, 2018, $240,000 April 9, 2018. Inventory, net Our inventory is produced by third first first 18 two As of June 30, 2018, $32,000 $28,000 December 31, 2017, $40,000 $18,000 We provide for an allowance against inventory for estimated losses that may June 30, 2018 December 31, 2017, $23,000 Property and Equipment, net Property and equipment is stated at cost less accumulated depreciation and is depreciated, using the straight-line method, over its estimated useful life ranging from one six one three Centrifuges may no no Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Revenue Recognition Prior to January 1, 2018, four 1 2 3 4 January 1, 2018 not Beginning January 1, 2018, We provide for the sale of our products, including disposable processing sets and supplies to customers. Revenue from the sale of products is recognized upon shipment of products to the customers. We do not not not License Agreement with Rohto The Company’s license agreement with Rohto (See Note 3 – Distribution, Licensing and Collaboration Arrangements not $3.0 Segments and Geographic Information Approximately 42% 22% three June 30, 2018 2017, 36% 28% six June 30, 2018 2017, Stock-Based Compensation The fair value of employee stock options is measured at the date of grant. Expected volatilities for the 2016 five Stock-based compensation for awards granted to non-employees is periodically re-measured as the underlying awards vest. The Company recognizes an expense for such awards throughout the performance period as the services are provided by the non-employees, based on the fair value of these options and warrants at each reporting period. The fair value of stock options and compensatory warrants issued to service providers utilizes the same methodology with the exception of the expected term. For awards to non-employees, the Company estimates that the options or warrants will be held for the full term. The Company adopted new accounting guidance on January 1, 2017 not Income Taxes The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, current income tax expense or benefit is the amount of income taxes expected to be payable or refundable for the current year. A deferred income tax asset or liability is recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credits and loss carryforwards. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not The Company’s policy for recording interest and penalties associated with audits is to record such items as a component of income before taxes. There were no 2018 2017. Earnings (Loss) per Share Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding (including contingently issuable shares when the contingencies have been resolved) during the period. For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive. For periods of net income, and when the effects are not All of the Company’s outstanding stock options and warrants were considered anti-dilutive for the three six June 30, 2018 2017. Six months ended June 30 , 2018 Six months ended June 30 , 2017 Shares underlying: Common stock options 536,250 1,228,750 Stock purchase warrants 6,180,000 6,180,000 Reclassifications Certain reclassification have been made to the prior year financial statements to conform to the current year presentation, including the addition of restricted cash to cash and cash equivalents on the consolidated statements of cash flows as a result of the adoption of new accounting guidance. Recently Adopted Accounting Pronouncements The Company adopted new accounting guidance for revenue recognition effective January 1, 2018 not In November 2016, January 1, 2018 six June 30, 2017: Previously Reported Adjustment As Revised Net cash provided by investing activities $ 5,417 $ (3,503 ) $ 1,914 In January 2017, 2 2, not zero 2 December 15, 2021. January 1, 2017. January 1, 2017; not not 2017 04. one June 30, 2017, $2.8 $2.1 zero June 30, 2017. We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not

Note 3 - Distribution, Licensin

Note 3 - Distribution, Licensing and Collaboration Arrangements	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Distributors and License Agreement [Text Block]	Note 3 Distribution and License Agreement with Rohto In January 2015, $3.0 one $1.5 $3.0 On May 28, 2018, ● The milestone payment that Rohto was obligated to make upon achievement of the pricing event was reduced from $1,000,000 $300,000, second ● The royalty payment structure was amended. Previously, the royalty was 9% 9% 5% not December 31, 2029 two 2019 2032. Collaboration Agreement with Restorix Health On March 22, 2016, 30 200 three March 2018 Pursuant to the Collaboration Agreement, the Company agreed to provide: (i) clinical support services by its clinical staff as reasonably agreed between the Company and Restorix as necessary and appropriate, (ii) reasonable and necessary support regarding certain reimbursement activities, (iii) coverage of Institutional Review Board (“IRB”) fees and payment to Restorix for certain training costs subject to certain limitations and (iv) community-focused public relations materials for participating RXH Partner Hospitals to promote the use of Aurix and participation in the Protocols. Pursuant to the Collaboration Agreement, Restorix agreed to: (i) provide access and support as reasonably necessary and appropriate at up to 30 Subject to the satisfaction of certain conditions, during the term of the Collaboration Agreement: (i) Restorix will have site specific geographic exclusivity for usage of Aurix in connection with treatment of patients in the Protocols within a 30 not 19 Under the Collaboration Agreement, the Company will pay Restorix or the RXH Partner Hospital, as the case may $700 2018 Boyalife Distribution Agreement Effective as of May 5, 2016, five not May 5, 2016 $500,000 90 no December 31, 2018, $40, not third first no $250,000

Note 4 - Receivables

Note 4 - Receivables	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 4 Accounts and other receivables, net consisted of the following: June 30 , 2018 December 31, 2017 Trade receivables $ 52,615 $ 64,387 Other receivables 58,124 355,839 110,739 420,226 Less allowance for doubtful accounts (1,975 ) (305,895 ) Accounts and other receivables, net $ 108,764 $ 114,331 Other receivables at December 31, 2017 April 9, 2018 June 30, 2018 June 30, 2018 $2,000 December 31, 2017 $240,000 six June 30, 2018.

Note 5 - Property and Equipment

Note 5 - Property and Equipment	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 5 Property and equipment, net consisted of the following: June 30 , 2018 December 31, 2017 Medical equipment $ 396,818 $ 401,719 Office equipment 38,104 48,888 Software 257,619 257,619 Manufacturing equipment 15,640 34,899 Leasehold improvements 19,215 19,215 727,396 762,340 Less accumulated depreciation and amortization (571,507 ) (538,724 ) Property and equipment, net $ 155,889 $ 223,616 Depreciation expense of property and equipment was approximately $52,000 $178,000 six June 30, 2018 2017, $26,000 $81,000 three June 30, 2018 2017,

Note 6 - Equity and Stock-based

Note 6 - Equity and Stock-based Compensation	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 6 Under the Second Amended and Restated Certificate of Incorporation of the Company, it has the authority to issue a total of 32,500,000 31,500,000 1,000,000 $0.0001 Series A Preferred Stock On May 5, 2016 ( 29,038 $0.0001 29,038 1145 not The Series A Preferred Stock has no not $29,038,000, not one five one 1% pari passu not $3.0 two Common Stock On May 28, 2018, 1,000,000 $500,000 Stock Purchase Warrants As part of the Plan of Reorganization, the Company also issued Warrants to purchase 6,180,000 May 5, 2021 $0.50 $0.75 Stock-Based Compensation In July 2016, August 4, 2016, 2016 “2016 first January 1, 2017) six 6% may not 1,000,000 November 21, 2016, 2016 1,685,400 2016 June 30, 2018. A summary of stock option activity under the 2016 six June 30, 2018 Stock Options – 2016 Omnibus Plan Shares Weighted Average Weighted Aggregate Outstanding at January 1, 2018 861,250 $ 1.04 8.57 $ - Granted - - - $ - Exercised - - Forfeited or expired (325,000 ) $ 1.12 - $ - Outstanding at June 30, 2018 536,250 $ 1.00 7.14 $ - Exercisable at June 30, 2018 504,584 $ 1.00 7.09 $ - There were no 2016 six June 30, 2018. six June 30, 2018 No six June 30, 2018. June 30, 2018, $3,000 0.50 The Company recorded stock-based compensation expense in the periods presented as follows: Three Months ended June 30, 2018 Three Months ended June 30, 2017 Sales and marketing $ - $ 1,392 Research and development 721 3,112 General and administrative 650 7,659 $ 1,371 $ 12,163 Six Months ended June 30 , 2018 Six Months ended June 30 , 2017 Sales and marketing $ - $ 2,514 Research and development 2,045 6,223 General and administrative 2,309 19,234 $ 4,354 $ 27,971

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 7 As of the Effective Date, the Company entered into a registration rights agreement (the “Registration Rights Agreement”) with certain accredited investors who acquired common shares in accordance with the Plan of Reorganization (the “Recapitalization Investors”). The Registration Rights Agreement provides certain resale registration rights to the Recapitalization Investors with respect to the common shares they received. Pursuant to the Registration Rights Agreement, the Company filed, and has to update periodically, a registration statement with the U.S. Securities and Exchange Commission that covers the resale of all shares of common stock issued to the Investors on the Effective Date until such time as such shares have been sold or may 144 not Our primary office and warehouse facilities are located in Gaithersburg, Maryland, and comprise approximately 12,000 two $18,000 September 2019. 2,100 $4,000 April 30, 2018. January 28, 2018, $4,000 16,300 $22,000 December 31, 2018. 401 July 31, 2014, August 1, 2014. $14,000 December 31, 2018. December 31, 2017, June 29, 2018, $32,000 one $26,000 July 3, 2018.

Note 8 - Subsequent Events

Note 8 - Subsequent Events	6 Months Ended
	Jun. 30, 2018
Notes to Financial Statements
Subsequent Events [Text Block]	Note 8 On August 9, 2018, 816,000 $321,000 June 30, 2018. seven $0.40

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Liquidity, Policy [Policy Text Block]	Liquidity Our operations are subject to certain risks and uncertainties including, among others, current and potential competitors with greater resources, dependence on significant customers, lack of operating history, uncertainty of future profitability and possible fluctuations in financial results. Since our inception, we have financed our operations by raising debt, issuing equity and equity-linked instruments, and executing licensing arrangements, and to a lesser extent by generating royalties and product revenues. We have incurred, and continue to incur, recurring losses and negative cash flows. As of June 30, 2018, September 30, 2017, 12,800,000 $3.0 June 2018, 1,000,000 $0.5 May 28, 2018 June 30, 2018, $0.4 no The accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates continuity of operations, realization of assets, and satisfaction of liabilities in the ordinary course of business. The propriety of using the going-concern basis is dependent upon, among other things, the achievement of future profitable operations, the ability to generate sufficient cash from operations, and potential other funding sources, including cash on hand, to meet our obligations as they become due. We believe based on the operating cash requirements and capital expenditures expected for the next twelve 30 We require additional capital and seek to continue financing our operations with external capital for the foreseeable future. Any equity financings may may may not may not If we are unable to secure sufficient capital to fund our operating activities or we are unable to increase revenues significantly, we may 30
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying unaudited interim consolidated financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not December 31, 2017, not may not 10 December 31, 2017.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned and controlled subsidiary Aldagen, Inc. (“Aldagen”). All significant inter-company accounts and transactions are eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with U.S. GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. In the accompanying consolidated financial statements, estimates are used for, but not
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Credit Concentration We generate accounts receivable from the sale of our products. In addition, other receivables consist primarily of receivable for royalties due for sales of Aldeflour as of June 30, 2018 December 31, 2017 December 31, 2017. 10% June 30, 2018 December 31, 2017 June 30 , 2018 December 31, 2017 Customer A -% 72% Customer B 52% 12% Customer C 14% -% Revenue from significant customers exceeding 10% Three Months ended June 30, 2018 Three Months ended June 30, 2017 Customer B 42% 22% Customer C 15% -% Customer D -% 15% Customer F -% 13% Six Months ended June 30, 2018 Six Months ended June 30, 2017 Customer B 31% 28% Customer C 12% -% Customer D -% 10% Customer E 11% -% Historically, we used single suppliers for several components of the Aurix product line. We outsource the manufacturing of various products to contract manufacturers. While we believe these manufacturers demonstrate competency, reliability and stability, there is no one not
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents We consider all highly liquid instruments purchased with an original maturity of three $123,287 $250,000 June 30, 2018.
Receivables, Policy [Policy Text Block]	Accounts Receivables, net We generate accounts receivables from the sale of our products. We provide for an allowance against receivables for estimated losses that may not June 30, 2018, $2,000. December 31, 2017, $306,000 March 29, 2018, $240,000 April 9, 2018.
Inventory, Policy [Policy Text Block]	Inventory, net Our inventory is produced by third first first 18 two As of June 30, 2018, $32,000 $28,000 December 31, 2017, $40,000 $18,000 We provide for an allowance against inventory for estimated losses that may June 30, 2018 December 31, 2017, $23,000
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment, net Property and equipment is stated at cost less accumulated depreciation and is depreciated, using the straight-line method, over its estimated useful life ranging from one six one three Centrifuges may no no Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Prior to January 1, 2018, four 1 2 3 4 January 1, 2018 not Beginning January 1, 2018, We provide for the sale of our products, including disposable processing sets and supplies to customers. Revenue from the sale of products is recognized upon shipment of products to the customers. We do not not not License Agreement with Rohto The Company’s license agreement with Rohto (See Note 3 – Distribution, Licensing and Collaboration Arrangements not $3.0
Segment Reporting, Policy [Policy Text Block]	Segments and Geographic Information Approximately 42% 22% three June 30, 2018 2017, 36% 28% six June 30, 2018 2017,
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The fair value of employee stock options is measured at the date of grant. Expected volatilities for the 2016 five Stock-based compensation for awards granted to non-employees is periodically re-measured as the underlying awards vest. The Company recognizes an expense for such awards throughout the performance period as the services are provided by the non-employees, based on the fair value of these options and warrants at each reporting period. The fair value of stock options and compensatory warrants issued to service providers utilizes the same methodology with the exception of the expected term. For awards to non-employees, the Company estimates that the options or warrants will be held for the full term. The Company adopted new accounting guidance on January 1, 2017 not
Income Tax, Policy [Policy Text Block]	Income Taxes The Company accounts for income taxes using the asset and liability method. Under the asset and liability method, current income tax expense or benefit is the amount of income taxes expected to be payable or refundable for the current year. A deferred income tax asset or liability is recognized for future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and tax credits and loss carryforwards. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not The Company’s policy for recording interest and penalties associated with audits is to record such items as a component of income before taxes. There were no 2018 2017.
Earnings Per Share, Policy [Policy Text Block]	Earnings (Loss) per Share Basic earnings (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted average number of shares of common stock outstanding (including contingently issuable shares when the contingencies have been resolved) during the period. For periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive. For periods of net income, and when the effects are not All of the Company’s outstanding stock options and warrants were considered anti-dilutive for the three six June 30, 2018 2017. Six months ended June 30 , 2018 Six months ended June 30 , 2017 Shares underlying: Common stock options 536,250 1,228,750 Stock purchase warrants 6,180,000 6,180,000
Reclassification, Policy [Policy Text Block]	Reclassifications Certain reclassification have been made to the prior year financial statements to conform to the current year presentation, including the addition of restricted cash to cash and cash equivalents on the consolidated statements of cash flows as a result of the adoption of new accounting guidance.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Pronouncements The Company adopted new accounting guidance for revenue recognition effective January 1, 2018 not In November 2016, January 1, 2018 six June 30, 2017: Previously Reported Adjustment As Revised Net cash provided by investing activities $ 5,417 $ (3,503 ) $ 1,914 In January 2017, 2 2, not zero 2 December 15, 2021. January 1, 2017. January 1, 2017; not not 2017 04. one June 30, 2017, $2.8 $2.1 zero June 30, 2017. We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not

Note 2 - Liquidity and Summar15

Note 2 - Liquidity and Summary of Significant Accounting Principles (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	June 30 , 2018 December 31, 2017 Customer A -% 72% Customer B 52% 12% Customer C 14% -% Three Months ended June 30, 2018 Three Months ended June 30, 2017 Customer B 42% 22% Customer C 15% -% Customer D -% 15% Customer F -% 13% Six Months ended June 30, 2018 Six Months ended June 30, 2017 Customer B 31% 28% Customer C 12% -% Customer D -% 10% Customer E 11% -%
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Six months ended June 30 , 2018 Six months ended June 30 , 2017 Shares underlying: Common stock options 536,250 1,228,750 Stock purchase warrants 6,180,000 6,180,000
Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]	Previously Reported Adjustment As Revised Net cash provided by investing activities $ 5,417 $ (3,503 ) $ 1,914

Note 4 - Receivables (Tables)

Note 4 - Receivables (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	June 30 , 2018 December 31, 2017 Trade receivables $ 52,615 $ 64,387 Other receivables 58,124 355,839 110,739 420,226 Less allowance for doubtful accounts (1,975 ) (305,895 ) Accounts and other receivables, net $ 108,764 $ 114,331

Note 5 - Property and Equipme17

Note 5 - Property and Equipment (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30 , 2018 December 31, 2017 Medical equipment $ 396,818 $ 401,719 Office equipment 38,104 48,888 Software 257,619 257,619 Manufacturing equipment 15,640 34,899 Leasehold improvements 19,215 19,215 727,396 762,340 Less accumulated depreciation and amortization (571,507 ) (538,724 ) Property and equipment, net $ 155,889 $ 223,616

Note 6 - Equity and Stock-bas18

Note 6 - Equity and Stock-based Compensation (Tables)	6 Months Ended
	Jun. 30, 2018
Notes Tables
Share-based Compensation, Stock Options, Activity [Table Text Block]	Stock Options – 2016 Omnibus Plan Shares Weighted Average Weighted Aggregate Outstanding at January 1, 2018 861,250 $ 1.04 8.57 $ - Granted - - - $ - Exercised - - Forfeited or expired (325,000 ) $ 1.12 - $ - Outstanding at June 30, 2018 536,250 $ 1.00 7.14 $ - Exercisable at June 30, 2018 504,584 $ 1.00 7.09 $ -
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	Three Months ended June 30, 2018 Three Months ended June 30, 2017 Sales and marketing $ - $ 1,392 Research and development 721 3,112 General and administrative 650 7,659 $ 1,371 $ 12,163 Six Months ended June 30 , 2018 Six Months ended June 30 , 2017 Sales and marketing $ - $ 2,514 Research and development 2,045 6,223 General and administrative 2,309 19,234 $ 4,354 $ 27,971

Note 1 - Description of Busin19

Note 1 - Description of Business and Bankruptcy Proceedings (Details Textual)	May 05, 2016
Platelet Rich Plasma (PRP) [Member]
Number of Products Produced	2

Note 2 - Liquidity and Summar20

Note 2 - Liquidity and Summary of Significant Accounting Principles (Details Textual) - USD ($)	May 28, 2018	Mar. 29, 2018	Jun. 30, 2018	Jun. 30, 2018	Sep. 30, 2017	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Stock Issued During Period, Shares, New Issues	1,000,000		1,000,000		12,800,000
Proceeds from Issuance of Common Stock	$ 500,000		$ 500,000		$ 3,000,000		$ 500,000
Cash and Cash Equivalents, at Carrying Value, Ending Balance			373,287	$ 373,287			373,287		$ 693,515
Debt, Long-term and Short-term, Combined Amount, Total			0	0			0
Cash, Uninsured Amount			123,287	123,287			123,287
Cash, FDIC Insured Amount			250,000	250,000			250,000
Allowance for Doubtful Accounts Receivable, Ending Balance			2,000	2,000			2,000		306,000
Allowance for Doubtful Accounts Receivable, Recoveries		$ 240,000					240,000
Inventory, Finished Goods, Gross, Total			32,000	32,000			32,000		40,000
Inventory, Raw Materials, Gross, Total			28,000	28,000			28,000		18,000
Inventory Valuation Reserves, Ending Balance			$ 23,000	$ 23,000			$ 23,000		23,000
Percentage of Revenues Generated Outside of United States				42.00%		22.00%	36.00%	28.00%
Income Tax Examination, Penalties and Interest Expense, Total							$ 0		$ 0
Number of Reporting Units							1
Goodwill, Carrying Amount Exceeding Fair Value						$ 2,800,000		$ 2,800,000
Goodwill, Impairment Loss								2,100,000
Goodwill, Ending Balance						$ 0		$ 0
License [Member]
Contract with Customer, Liability, Revenue Recognized							$ 3,000,000
Minimum [Member]
Inventory Shelf Life							1 year 180 days
Property, Plant and Equipment, Useful Life							1 year
Minimum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life							1 year
Maximum [Member]
Inventory Shelf Life							2 years
Property, Plant and Equipment, Useful Life							6 years
Maximum [Member] | Leasehold Improvements [Member]
Property, Plant and Equipment, Useful Life							3 years

Note 2 - Liquidity and Summar21

Note 2 - Liquidity and Summary of Significant Accounting Principles - Summary of Concentration Risk (Details) - Customer Concentration Risk [Member]	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Sales Revenue, Net [Member] | Customer B [Member]
Concentration percentage	42.00%	22.00%	31.00%	28.00%
Sales Revenue, Net [Member] | Customer C [Member]
Concentration percentage	15.00%		12.00%
Sales Revenue, Net [Member] | Customer D [Member]
Concentration percentage		15.00%		10.00%
Sales Revenue, Net [Member] | Customer E [Member]
Concentration percentage			11.00%
Sales Revenue, Net [Member] | Customer F [Member]
Concentration percentage		13.00%
Accounts Receivable [Member] | Customer B [Member]
Concentration percentage			52.00%		12.00%
Accounts Receivable [Member] | Customer A [Member]
Concentration percentage					72.00%
Accounts Receivable [Member] | Customer C [Member]
Concentration percentage			14.00%

Note 2 - Liquidity and Summar22

Note 2 - Liquidity and Summary of Significant Accounting Policies - Anti-dilutive Securities Excluded From the Computation of Diluted Earnings (Loss) Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Employee Stock Option [Member]
Anti-dilutive securities (in shares)	536,250	1,228,750
Warrant [Member]
Anti-dilutive securities (in shares)	6,180,000	6,180,000

Note 2 - Liquidity and Summar23

Note 2 - Liquidity and Summary of Significant Accounting Principles - Adoption of ASU 2016-18 (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Net cash provided by investing activities	$ 2,000	$ 1,914
Previously Reported [Member]
Net cash provided by investing activities		5,417
Restatement Adjustment [Member] | Accounting Standards Update 2014-09 [Member]
Net cash provided by investing activities		$ (3,503)

Note 3 - Distribution, Licens24

Note 3 - Distribution, Licensing and Collaboration Arrangements (Details Textual)	May 28, 2018USD ($)	May 27, 2018USD ($)	May 05, 2016USD ($)$ / item	Jan. 31, 2015USD ($)	Jun. 30, 2018USD ($)
Distribution Agreement with Boyalife [Member] | Affiliated Entity [Member]
License Agreement, Original Term			5 years
Due from Related Parties, Current, Total			$ 500,000
Maximum Payment on Right Excercisable			$ 250,000
Distribution Agreement with Boyalife [Member] | Affiliated Entity [Member] | Aurix System [Member]
Distribution Fee per Unit Sold | $ / item			40
Restorix Distribution Agreement [Member]
Current Product Price					$ 700
Rohto Pharmaceutical Co., Ltd [Member]
Distribution and License Agreement, Milestone Payment	$ 300,000	$ 1,000,000
Royalty Payment, Percent of Net Sales		9.00%
Royalty Payment, Percent of Net Sales When Using a Nuo Patent	9.00%
Royalty Payment, Percent of Net Sales Not Using a Nuo Patent	5.00%
Rohto Pharmaceutical Co., Ltd [Member]
Proceeds from License Fees Received				$ 3,000,000
Millennia Holdings, Inc [Member]
Payments for Terminated Licenses				$ 1,500,000

Note 4 - Receivables (Details T

Note 4 - Receivables (Details Textual) - USD ($)	Mar. 29, 2018	Jun. 30, 2018	Dec. 31, 2017
Allowance for Doubtful Accounts Receivable, Current, Ending Balance		$ 1,975	$ 305,895
Allowance for Doubtful Accounts Receivable, Recoveries	$ 240,000	240,000
Trade Accounts Receivable [Member]
Allowance for Doubtful Accounts Receivable, Current, Ending Balance		$ 2,000

Note 4 - Receivables - Accounts

Note 4 - Receivables - Accounts and Other Receivable, Net (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Accounts receivable, gross	$ 110,739	$ 420,226
Less allowance for doubtful accounts	(1,975)	(305,895)
Accounts and other receivables, net	108,764	114,331
Trade Accounts Receivable [Member]
Accounts receivable, gross	52,615	64,387
Less allowance for doubtful accounts	(2,000)
Other Receivables [Member]
Accounts receivable, gross	$ 58,124	$ 355,839

Note 5 - Property and Equipme27

Note 5 - Property and Equipment (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Depreciation, Depletion and Amortization, Total	$ 26,000	$ 81,000	$ 51,789	$ 604,347

Note 5 - Property and Equipme28

Note 5 - Property and Equipment - Property and Equipment, Net (Details) - USD ($)	Jun. 30, 2018	Dec. 31, 2017
Property, plant, and equipment, gross	$ 727,396	$ 762,340
Less accumulated depreciation and amortization	(571,507)	(538,724)
Property and equipment, net	155,889	223,616
Medical Equipment [Member]
Property, plant, and equipment, gross	396,818	401,719
Office Equipment [Member]
Property, plant, and equipment, gross	38,104	48,888
Technology Equipment [Member]
Property, plant, and equipment, gross	257,619	257,619
Manufacturing Equipment [Member]
Property, plant, and equipment, gross	15,640	34,899
Leasehold Improvements [Member]
Property, plant, and equipment, gross	$ 19,215	$ 19,215

Note 6 - Equity and Stock-bas29

Note 6 - Equity and Stock-based Compensation (Details Textual)	May 28, 2018USD ($)shares	May 05, 2016USD ($)$ / sharesshares	Jun. 30, 2018USD ($)$ / sharesshares	Sep. 30, 2017USD ($)shares	Jun. 30, 2018USD ($)$ / sharesshares	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)$ / sharesshares	Aug. 04, 2016shares
Authorized Shares, Common and Preferred			32,500,000		32,500,000
Common Stock, Shares Authorized			31,500,000		31,500,000		31,500,000
Preferred Stock, Shares Authorized			1,000,000		1,000,000		1,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares			$ 0.0001		$ 0.0001		$ 0.001
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.0001		$ 0.0001		$ 0.0001
Stock Issued During Period, Shares, New Issues	1,000,000		1,000,000	12,800,000
Preferred Stock, Liquidation Preference, Value | $			$ 29,038,000		$ 29,038,000		$ 29,038,000
Proceeds from Issuance of Common Stock | $	$ 500,000		$ 500,000	$ 3,000,000	$ 500,000
The 2016 Omnibus Plan [Member]
Evergreen Provision, Increase in Number of Shares Authorized Calculation, Percentage Amount of Prior Year's Reserved Shares								6.00%
Evergreen Provision, Maximum Limit of Increase to Authorized Shares								1,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized			1,685,400		1,685,400
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					0
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period					0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $			$ 3,000		$ 3,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition					182 days
Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		6,180,000
Maximum [Member] | Common Stock [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 0.75
Minimum [Member] | Common Stock [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 0.50
Series A Preferred Stock [Member]
Preferred Stock, Shares Authorized		29,038
Common Stock, Par or Stated Value Per Share | $ / shares		$ 0.0001
Stock Issued During Period, Shares, New Issues		29,038
Preferred Stock, Liquidation Preference, Value | $		$ 29,038,000
Preferred Stock, Voting Rights, Number of Votes Per Share		5
Preferred Stock, Restrictions, Debt Ceiling Other Than for Working Capital Purposes | $		$ 3,000,000
Series A Preferred Stock [Member] | Maximum [Member]
Preferred Stock, Voting Rights, Percentage of Voting Rights of Capital Stock		1.00%

Note 6 - Equity and Stock-bas30

Note 6 - Equity and Stock-based Compensation - Stock Option Activity (Details) - The 2016 Omnibus Plan [Member] - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Shares outstanding (in shares)	861,250
Shares outstanding, weighted-average exercise price (in dollars per share)	$ 1.04
Shares outstanding, weighted-average remaining contractual term (Year)	7 years 51 days	8 years 208 days
Shares outstanding, aggregate intrinsic value	$ 0	$ 0
Shares granted (in shares)	0
Shares granted, weighted-average exercise price (in dollars per share)
Shares exercised (in shares)	0
Shares exercised, weighted-average exercise price (in dollars per share)
Shares forfeited or expired (in shares)	(325,000)
Shares forfeited or expired, weighted-average exercise price (in dollars per share)	$ 1.12
Shares outstanding (in shares)	536,250	861,250
Shares outstanding, weighted-average exercise price (in dollars per share)	$ 1	$ 1.04
Shares exercisable (in shares)	504,584
Shares exercisable, weighted-average exercise price (in dollars per share)	$ 1
Shares exercisable, weighted-average remaining contractual term (Year)	7 years 32 days

Note 6 - Equity and Stock-bas31

Note 6 - Equity and Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Share-based compensation	$ 1,371	$ 12,163	$ 4,354	$ 27,971
Selling and Marketing Expense [Member]
Share-based compensation		1,392		2,514
Research and Development Expense [Member]
Share-based compensation	721	3,112	2,045	6,223
General and Administrative Expense [Member]
Share-based compensation	$ 650	$ 7,659	$ 2,309	$ 19,234

Note 7 - Commitments and Cont32

Note 7 - Commitments and Contingencies (Details Textual)	Jul. 03, 2018USD ($)	Jun. 30, 2018USD ($)ft²	Jan. 28, 2018USD ($)
Office and Warehouse Facilities in Gaithersburg, Maryland Leases [Member]
Operating Leases, Area | ft²		12,000
Operating Leases of Lessee, Number of Operating Leases		2
Operating Leases, Monthly Rent Expense		$ 18,000
Commercial Operation Facility in Nashville, Tennessee [Member]
Operating Leases, Area | ft²		2,100
Operating Leases, Monthly Rent Expense		$ 4,000
Security Deposit Forfeited on Sublease			$ 4,000
Facility in Durham, North Carolina [Member]
Operating Leases, Area | ft²		16,300
Operating Leases, Monthly Rent Expense		$ 22,000
Facility in Durham, North Carolina [Member] | Subsequent Event [Member]
Proceeds from Release of Security Deposit	$ 32,000
Payment of Lease Termination Agreement	$ 26,000
Sublease of Facility in Durham, North Carolina [Member]
Operating Leases, Sublease Rental Monthly Payments		$ 14,000

Note 8 - Subsequent Events (Det

Note 8 - Subsequent Events (Details Textual) - Subsequent Event [Member] - Senior Management and Directors [Member]	Aug. 09, 2018USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares	816,000
Deferred Salary and Compensation, Paidd by Options | $	$ 321,000
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares	$ 0.40
Employee Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	7 years