Nuo Therapeutics (AURX) 10-Q 20 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 15, 2019
Document Information [Line Items]
Entity Registrant Name	Nuo Therapeutics, Inc.
Entity Central Index Key	0001091596
Trading Symbol	aurx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Common Stock, Shares Outstanding (in shares)		23,722,400
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets (Cu

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 185,314	$ 636,927
Accounts receivable, net	46,959	22,170
Inventory, net	17,310	25,348
Prepaid expenses and other current assets	128,213	182,243
Total current assets	377,796	866,688
Property and equipment, net	80,274	105,479
Deferred costs and other assets	3,330	3,330
Total assets	461,400	975,497
Current liabilities
Accounts payable	531,019	437,325
Accrued expenses and liabilities	274,930	285,199
Accrued interest payable	22,594	12,166
Convertible notes, net	330,969	309,010
Derivative liabilities	13,784	13,784
Total liabilities	1,173,296	1,057,484
Commitments and contingencies (Note 8)
Stockholders' 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, 100,000,000 shares authorized, 23,722,400 shares issued and outstanding	2,372	2,372
Additional paid-in capital	22,182,273	22,132,273
Accumulated deficit	(22,896,544)	(22,216,635)
Total stockholders' deficit	(711,896)	(81,987)
Total liabilities and stockholders' deficit	$ 461,400	$ 975,497

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
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)	100,000,000	100,000,000
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
	Mar. 31, 2019	Mar. 31, 2018
Revenue:
Revenue	$ 39,229	$ 159,943
Costs of revenue
Costs of sales	28,699	49,004
Total costs of revenue	28,699	49,004
Gross profit	10,530	110,939
Operating expenses
Sales and marketing	19,728	61,123
Research and development	94,348	258,035
General and administrative	508,287	459,507
Total operating expenses	622,363	778,665
Loss from operations	(611,833)	(667,726)
Other income (expense)
Interest, net	(68,076)	44
Other		(2,565)
Total other income (expense)	(68,076)	(2,521)
Net loss	$ (679,909)	$ (670,247)
Loss per common share
Basic (in dollars per share)	$ (0.03)	$ (0.03)
Diluted (in dollars per share)	$ (0.03)	$ (0.03)
Weighted average common shares outstanding
Basic (in shares)	23,722,400	22,722,400
Diluted (in shares)	23,722,400	22,722,400
Product [Member]
Revenue:
Revenue	$ 39,229	$ 124,910
Royalty [Member]
Revenue:
Revenue		$ 35,033

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Deficit) - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2017	29,038	22,722,400
Balance at Dec. 31, 2017	$ 3	$ 2,272	$ 21,155,404	$ (20,674,808)	$ 482,871
Net loss				(670,247)	(670,247)
Stock-based compensation			2,983		2,983
Balance (in shares) at Mar. 31, 2018	29,038	22,722,400
Balance at Mar. 31, 2018	$ 3	$ 2,272	21,158,387	(21,345,055)	(184,393)
Balance (in shares) at Dec. 31, 2018	29,038	23,722,400
Balance at Dec. 31, 2018	$ 3	$ 2,372	22,132,273	(22,216,635)	(81,987)
Issuance of options to settle related party compensation liabilities			50,000		50,000
Net loss				(679,909)	(679,909)
Balance (in shares) at Mar. 31, 2019	29,038	23,722,400
Balance at Mar. 31, 2019	$ 3	$ 2,372	$ 22,182,273	$ (22,896,544)	$ (711,896)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (679,909)	$ (670,247)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	25,205	26,084
Stock-based compensation		2,983
Bad debt recovery		(239,660)
Increase in allowance for inventory obsolescence		949
Loss on the disposal of fixed assets		3,928
Amortization of debt discount	21,959
Changes in operating assets and liabilities:
Accounts and other receivables	(24,789)	12,386
Inventory	8,038	(2,557)
Prepaid expenses and other current assets	54,030	103,580
Accounts payable	93,694	156,033
Accrued expenses and liabilities	39,731	61,384
Accrued interest	10,428
Other liabilities		(1,443)
Net cash used in operating activities	(451,613)	(546,580)
Net decrease in cash, cash equivalents and restricted cash	(451,613)	(546,580)
Cash, cash equivalents and restricted cash at beginning of period	636,927	693,515
Cash, cash equivalents and restricted cash at end of period	185,314	146,935
Supplemental cash flow information
Interest expense paid in cash
Income taxes paid in cash
Non-cash investing and financing activities
Issuance of options to settle accrued compensation liabilities	$ 50,000

Note 1 - Description of Busines

Note 1 - Description of Business	3 Months Ended
	Mar. 31, 2019
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. Currently, our commercial offering consists solely of the Aurix point of care technology for the safe and efficient separation of autologous blood to produce a platelet-based therapy for the chronic wound care market. Prior to May 5, 2016 ( 6 two May 5, 2016,

Note 2 - Liquidity and Summary

Note 2 - Liquidity and Summary of Significant Accounting Principles	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2 Liquidity 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 March 31, 2019, March 31, 2019, $0.2 $0.35 During the year ended December 31, 2018, 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 Even assuming we succeed in raising sufficient additional funds in the near future to avoid a cessation of business operations, we require additional capital and will 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, 2018, not may not 10 December 31, 2018. 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 product. Customer receivable balances in excess of 10% March 31, 2019 December 31, 2018 March 3 1 , 201 9 December 31, 201 8 Customer A 72 % 58 % Customer B 14 % 29 % Revenue from significant customers exceeding 10% Three Months ended March 3 1 , 201 9 Three Months ended March 31 , 201 8 Customer A 54 % 9 % Customer C - % 22 % Customer D 18 % - % Customer E 15 % - % Customer F 14 % - % Customer G - % 14 % Historically, we have used single suppliers for several components of the Aurix product line. We outsource the manufacturing of various product components 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 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 March 31, 2019 December 31, 2018, $2,000. March 29, 2018, $240,000 three March 31, 2018. Inventory, net Our inventory is produced by third first first 18 two As of March 31, 2019, $9,000 $15,000 December 31, 2018, $15,000 $17,000 We provide for an allowance against inventory for estimated losses that may March 31, 2019 December 31, 2018, $7,000. Property and Equipment, net Property and equipment is stated at cost less accumulated depreciation and amortization. Assets are 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 Leases At the inception of a contract, the Company determines if the arrangement is, or contains, a lease. Right-of-use (“ROU”) 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 arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Rent expense is recognized on a straight-line basis over the lease term. The Company has made certain accounting policy elections whereby the Company (i) does not 12 Revenue Recognition The Company analyzes contracts to determine the appropriate revenue recognition using the following steps: (i) identification of contracts with customers; (ii) identification of distinct performance obligations in the contract; (iii) determination of contract transaction price; (iv) allocation of contract transaction price to the performance obligations; and (v) determination of revenue recognition based on timing of satisfaction of the performance obligation. The Company recognizes revenues upon the satisfaction of its performance obligations (upon transfer of control of promised goods or services to customers) in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. 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 Segments and Geographic Information Approximately 0% 30% three March 31, 2019 2018, 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. Excess tax benefits and tax deficiencies related to stock-based compensation awards are recognized as income tax expenses or benefits in the income statement, and excess tax benefits are classified along with other income tax cash flows in the operating activities section of the condensed consolidated statement of cash flows. Additionally, the Company elected to account for forfeitures of stock-based awards as they occur, as opposed to estimating those prior to their occurrence. 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 2019 2018. 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 March 31, 2019 2018. Three months ended March 31 , 201 9 Three months ended March 31 , 201 8 Shares underlying: Common stock options 1,741,876 742,084 Stock purchase warrants 6,646,666 6,180,000 Recently Adopted Accounting Standards In February 2016, December 15, 2018. January 1, 2019 ● the Company did not ● the Company did not Additionally, the Company made ongoing accounting policy elections whereby the Company (i) does not 12 Upon adoption of the new guidance on January 1, 2019, no We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not Subsequent Events The Company’s management reviewed all material events through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

Note 3 - Distribution, Licensin

Note 3 - Distribution, Licensing and Collaboration Arrangements	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Distributors and License Agreement [Text Block]	Note 3 Collaboration Agreement with Restorix Health On March 22, 2016, 30 125 three March 2018 not 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	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Loans, Notes, Trade and Other Receivables Disclosure [Text Block]	Note 4 Accounts receivable, net consisted of the following: March 31 , 201 9 December 31, 201 8 Trade receivables $ 48,934 $ 24,145 Less allowance for doubtful accounts (1,975 ) (1,975 ) Accounts receivable, net $ 46,959 $ 22,170 The allowance for doubtful accounts at March 31, 2019 December 31, 2018 $2,000

Note 5 - Property and Equipment

Note 5 - Property and Equipment	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	Note 5 Property and equipment, net consisted of the following: March 31 , 201 9 December 31, 201 8 Medical equipment $ 393,156 $ 393,156 Office equipment 38,104 38,104 Software 257,619 257,619 Manufacturing equipment 15,640 15,640 Leasehold improvements 19,215 19,215 723,734 723,734 Less accumulated depreciation and amortization (643,460 ) (618,255 ) Property and equipment, net $ 80,274 $ 105,479 Depreciation expense of property and equipment was approximately $25,000 $26,000 three March 31, 2019 2018,

Note 6 - Convertible Notes and

Note 6 - Convertible Notes and Stock Purchase Warrants	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Convertible Debt Disclosure [Text Block]	Note 6 On September 17, 2018, 12% $175,000, $315,800 $34,200 September 17, 2018, 233,333 466,666 The purchase agreements contain certain representations, warranties and covenants by, among and for the benefit of the respective parties. The purchase agreements also provide for customary indemnification of the Investors by the Company. The notes mature nine June 17, 2019) 12% may 130% 90 145% 91 180 not 181 may no may one After six may 40% two 25 not seven 24% may 150% The warrants are exercisable at any time, at an exercise price per share equal to $0.15, five The transaction documents also include most favored nations provisions and limitations on the Company’s ability to offer additional securities (unless the use of proceeds is to repay the notes). The warrants are treated as equity and the fair market value at issuance of approximately $18,000 $13,784 2.46% 364% nine 0.75 0%, 40% 35% nine On March 19, 2019 May 3, 2019, may April 30, 3019 May 31, 2019. $52,000 15% Interest expense, net was $68,076 three March 31, 2019 $21,959 $35,000 March 31, 2018, three no no three March 31, 2018.

Note 7 - Equity and Stock-based

Note 7 - Equity and Stock-based Compensation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 7 Under the Second Amended and Restated Certificate of Incorporation, it has the authority to issue a total of 101,000,000 100,000,000 1,000,000 $0.0001 Series A Preferred Stock On May 5, 2016, 29,038 $0.0001 May 5, 2016, 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 6 Convertible Notes and Stock Purchase Warrants September 2018. 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 See Note 6 Convertible Notes and Stock Purchase Warrants 466,666 September 2018. Stock-Based Compensation In July 2016, 2016 “2016 August 4, 2016, first January 1, 2017) six 6% may not 1,000,000 November 21, 2016, 2016 1,786,524 2016 March 31, 2019. A summary of stock option activity under the 2016 three March 31, 2019 Stock Options – 2016 Omnibus Plan Shares Weighted Average Weighted Aggregate Outstanding at January 1, 2019 1,616,876 $ 0.50 5.55 $ - Granted 125,000 $ 0.40 7.00 $ - Exercised - $ - - $ - Forfeited or expired - $ - - $ - Outstanding at March 31, 2109 1,741,876 $ 0.49 5.46 $ - Exercisable at March 31, 2019 1,741,876 $ 0.49 5.46 $ - There were 125,000 2016 three March 31, 2019 three March 31, 2019 $2,600. $50,000 No three March 31, 2019. March 31, 2019, no The Company recorded stock-based compensation expense in the periods presented as follows: Three Months ended March 31 , 201 9 Three Months ended March 31 , 201 8 Research and development $ - $ 1,324 General and administrative - 1,659 $ - $ 2,983

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 8 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 $19,300 September 2019. August 1, 2018, first three $100,000. The landlord of our principal executive offices located in Gaithersburg, Maryland has filed, with the District Court of Maryland for Montgomery County, a complaint for repossession of rented property and for a judgment of payment of unpaid rent and other amounts due alleged to aggregate approximately $46,000 not

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Liquidity, Policy [Policy Text Block]	Liquidity 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 March 31, 2019, March 31, 2019, $0.2 $0.35 During the year ended December 31, 2018, 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 Even assuming we succeed in raising sufficient additional funds in the near future to avoid a cessation of business operations, we require additional capital and will 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, 2018, not may not 10 December 31, 2018.
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 product. Customer receivable balances in excess of 10% March 31, 2019 December 31, 2018 March 3 1 , 201 9 December 31, 201 8 Customer A 72 % 58 % Customer B 14 % 29 % Revenue from significant customers exceeding 10% Three Months ended March 3 1 , 201 9 Three Months ended March 31 , 201 8 Customer A 54 % 9 % Customer C - % 22 % Customer D 18 % - % Customer E 15 % - % Customer F 14 % - % Customer G - % 14 % Historically, we have used single suppliers for several components of the Aurix product line. We outsource the manufacturing of various product components 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
Receivable [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 March 31, 2019 December 31, 2018, $2,000. March 29, 2018, $240,000 three March 31, 2018.
Inventory, Policy [Policy Text Block]	Inventory, net Our inventory is produced by third first first 18 two As of March 31, 2019, $9,000 $15,000 December 31, 2018, $15,000 $17,000 We provide for an allowance against inventory for estimated losses that may March 31, 2019 December 31, 2018, $7,000.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment, net Property and equipment is stated at cost less accumulated depreciation and amortization. Assets are 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
Lessee, Leases [Policy Text Block]	Leases At the inception of a contract, the Company determines if the arrangement is, or contains, a lease. Right-of-use (“ROU”) 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 arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Rent expense is recognized on a straight-line basis over the lease term. The Company has made certain accounting policy elections whereby the Company (i) does not 12
Revenue [Policy Text Block]	Revenue Recognition The Company analyzes contracts to determine the appropriate revenue recognition using the following steps: (i) identification of contracts with customers; (ii) identification of distinct performance obligations in the contract; (iii) determination of contract transaction price; (iv) allocation of contract transaction price to the performance obligations; and (v) determination of revenue recognition based on timing of satisfaction of the performance obligation. The Company recognizes revenues upon the satisfaction of its performance obligations (upon transfer of control of promised goods or services to customers) in an amount that reflects the consideration to which it expects to be entitled in exchange for those goods or services. 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
Segment Reporting, Policy [Policy Text Block]	Segments and Geographic Information Approximately 0% 30% three March 31, 2019 2018,
Share-based Payment Arrangement [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. Excess tax benefits and tax deficiencies related to stock-based compensation awards are recognized as income tax expenses or benefits in the income statement, and excess tax benefits are classified along with other income tax cash flows in the operating activities section of the condensed consolidated statement of cash flows. Additionally, the Company elected to account for forfeitures of stock-based awards as they occur, as opposed to estimating those prior to their occurrence.
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 2019 2018.
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 March 31, 2019 2018. Three months ended March 31 , 201 9 Three months ended March 31 , 201 8 Shares underlying: Common stock options 1,741,876 742,084 Stock purchase warrants 6,646,666 6,180,000
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Adopted Accounting Standards In February 2016, December 15, 2018. January 1, 2019 ● the Company did not ● the Company did not Additionally, the Company made ongoing accounting policy elections whereby the Company (i) does not 12 Upon adoption of the new guidance on January 1, 2019, no We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not
Subsequent Events, Policy [Policy Text Block]	Subsequent Events The Company’s management reviewed all material events through the date the consolidated financial statements were issued for subsequent event disclosure consideration.

Note 2 - Liquidity and Summar_2

Note 2 - Liquidity and Summary of Significant Accounting Principles (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedules of Concentration of Risk, by Risk Factor [Table Text Block]	March 3 1 , 201 9 December 31, 201 8 Customer A 72 % 58 % Customer B 14 % 29 % Three Months ended March 3 1 , 201 9 Three Months ended March 31 , 201 8 Customer A 54 % 9 % Customer C - % 22 % Customer D 18 % - % Customer E 15 % - % Customer F 14 % - % Customer G - % 14 %
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three months ended March 31 , 201 9 Three months ended March 31 , 201 8 Shares underlying: Common stock options 1,741,876 742,084 Stock purchase warrants 6,646,666 6,180,000

Note 4 - Receivables (Tables)

Note 4 - Receivables (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]	March 31 , 201 9 December 31, 201 8 Trade receivables $ 48,934 $ 24,145 Less allowance for doubtful accounts (1,975 ) (1,975 ) Accounts receivable, net $ 46,959 $ 22,170

Note 5 - Property and Equipme_2

Note 5 - Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Property, Plant and Equipment [Table Text Block]	March 31 , 201 9 December 31, 201 8 Medical equipment $ 393,156 $ 393,156 Office equipment 38,104 38,104 Software 257,619 257,619 Manufacturing equipment 15,640 15,640 Leasehold improvements 19,215 19,215 723,734 723,734 Less accumulated depreciation and amortization (643,460 ) (618,255 ) Property and equipment, net $ 80,274 $ 105,479

Note 7 - Equity and Stock-bas_2

Note 7 - Equity and Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Stock Options – 2016 Omnibus Plan Shares Weighted Average Weighted Aggregate Outstanding at January 1, 2019 1,616,876 $ 0.50 5.55 $ - Granted 125,000 $ 0.40 7.00 $ - Exercised - $ - - $ - Forfeited or expired - $ - - $ - Outstanding at March 31, 2109 1,741,876 $ 0.49 5.46 $ - Exercisable at March 31, 2019 1,741,876 $ 0.49 5.46 $ -
Share-based Payment Arrangement, Cost by Plan [Table Text Block]	Three Months ended March 31 , 201 9 Three Months ended March 31 , 201 8 Research and development $ - $ 1,324 General and administrative - 1,659 $ - $ 2,983

Note 1 - Description of Busin_2

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

Note 2 - Liquidity and Summar_3

Note 2 - Liquidity and Summary of Significant Accounting Principles (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Proceeds from Royalty Buyout Agreement		$ 200,000
Accounts Receivable, Allowance for Credit Loss, Ending Balance	$ 2,000	2,000
Accounts Receivable, Credit Loss Expense (Reversal)			$ (239,660)
Inventory, Finished Goods, Gross, Total	9,000	15,000
Inventory, Raw Materials, Gross, Total	$ 15,000	17,000
Inventory Valuation Reserves, Ending Balance		$ 7,000
Percentage of Revenues Generated Outside of United States	0.00%		30.00%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0.00%
Income Tax Examination, Penalties and Interest Expense, Total			$ 0
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
Convertible Promissory Notes 12% [Member]
Convertible Notes Payable, Total	$ 350,000

Note 2 - Liquidity and Summar_4

Note 2 - Liquidity and Summary of Significant Accounting Principles - Summary of Concentration Risk (Details) - Customer Concentration Risk [Member]	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accounts Receivable [Member] | Customer A [Member]
Concentration percentage	72.00%	58.00%
Accounts Receivable [Member] | Customer B [Member]
Concentration percentage	14.00%	29.00%
Revenue Benchmark [Member] | Customer A [Member]
Concentration percentage	54.00%	9.00%
Revenue Benchmark [Member] | Customer C [Member]
Concentration percentage		22.00%
Revenue Benchmark [Member] | Customer D [Member]
Concentration percentage	18.00%
Revenue Benchmark [Member] | Customer E [Member]
Concentration percentage	15.00%
Revenue Benchmark [Member] | Customer F [Member]
Concentration percentage	14.00%
Revenue Benchmark [Member] | Customer G [Member]
Concentration percentage		14.00%

Note 2 - Liquidity and Summar_5

Note 2 - Liquidity and Summary of Significant Accounting Principles - Anti-dilutive Securities Excluded From the Computation of Diluted Earnings (Loss) Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Payment Arrangement, Option [Member]
Anti-dilutive securities (in shares)	1,741,876	742,084
Warrant [Member]
Anti-dilutive securities (in shares)	6,646,666	6,180,000

Note 3 - Distribution, Licens_2

Note 3 - Distribution, Licensing and Collaboration Arrangements (Details Textual) - Distribution Agreement with Boyalife [Member] - Affiliated Entity [Member]	May 05, 2016USD ($)$ / item
License Agreement, Original Term	5 years
Due from Related Parties, Current, Total	$ 500,000
Maximum Payment on Right Excercisable	$ 250,000
Aurix System [Member]
Distribution Fee per Unit Sold | $ / item	40

Note 4 - Receivables (Details T

Note 4 - Receivables (Details Textual) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Accounts Receivable, Allowance for Credit Loss, Current	$ 1,975	$ 1,975
Trade Accounts Receivable [Member]
Accounts Receivable, Allowance for Credit Loss, Current	$ 2,000	$ 2,000

Note 4 - Receivables - Accounts

Note 4 - Receivables - Accounts and Other Receivable, Net (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Less allowance for doubtful accounts	$ (1,975)	$ (1,975)
Accounts receivable, net	46,959	22,170
Trade Accounts Receivable [Member]
Accounts receivable, gross	48,934	24,145
Less allowance for doubtful accounts	$ (2,000)	$ (2,000)

Note 5 - Property and Equipme_3

Note 5 - Property and Equipment (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Depreciation, Total	$ 25,000	$ 26,000

Note 5 - Property and Equipme_4

Note 5 - Property and Equipment - Property and Equipment, Net (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Property, plant, and equipment, gross	$ 723,734	$ 723,734
Less accumulated depreciation and amortization	(643,460)	(618,255)
Property and equipment, net	80,274	105,479
Medical Equipment [Member]
Property, plant, and equipment, gross	393,156	393,156
Office Equipment [Member]
Property, plant, and equipment, gross	38,104	38,104
Technology Equipment [Member]
Property, plant, and equipment, gross	257,619	257,619
Manufacturing Equipment [Member]
Property, plant, and equipment, gross	15,640	15,640
Leasehold Improvements [Member]
Property, plant, and equipment, gross	$ 19,215	$ 19,215

Note 6 - Convertible Notes an_2

Note 6 - Convertible Notes and Stock Purchase Warrants (Details Textual) - USD ($)	Sep. 17, 2018	May 03, 2019	Mar. 31, 2019	Mar. 31, 2018	Sep. 30, 2018
Amortization of Debt Discount (Premium)			$ 21,959
Warrants Issued to Investors [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	466,666
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 0.15
Warrants and Rights Outstanding, Term					5 years
Adjustments to Additional Paid in Capital, Warrant Issued	$ 18,000
Embedded Derivative, Fair Value of Embedded Derivative Liability	$ 13,784
Warrants Issued to Investors [Member] | Measurement Input, Risk Free Interest Rate [Member]
Embedded Derivative Liability, Measurement Input	0.0246
Warrants Issued to Investors [Member] | Measurement Input, Price Volatility [Member]
Embedded Derivative Liability, Measurement Input	3.64
Warrants Issued to Investors [Member] | Measurement Input, Expected Term [Member]
Embedded Derivative Liability, Measurement Input	0.75
Warrants Issued to Investors [Member] | Measurement Input, Expected Dividend Rate [Member]
Embedded Derivative Liability, Measurement Input	0
Warrants Issued to Investors [Member] | Measurement Input, Discount Rate [Member]
Embedded Derivative Liability, Measurement Input	0.4
Warrants Issued to Investors [Member] | Measurement Input, Discount for Lack of Marketability [Member]
Embedded Derivative Liability, Measurement Input	0.35
Warrants Issued to Investors [Member] | Auctus Fund, LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	233,333
Convertible Promissory Notes 12% [Member]
Debt Instrument, Interest Rate, Stated Percentage	12.00%
Proceeds from Convertible Debt	$ 315,800
Payments of Debt Issuance Costs	$ 34,200
Debt Instrument, Term	270 days
Debt Instrument, Covenant, Prepayment of Outstanding Principal and Interest, Percentage, After 90 Days from Date of Issuance	130.00%
Debt Instrument, Covenant, Prepayment of Outstanding Principal and Interest, Percentage, Starting After 91 Days and Ending at 180 Days from Date of Issuance	145.00%
Debt Instrument, Covenant, Threshold Period After Date of Issuance for Convertible Notes to No Longer Qualify for Prepayment	181 days
Debt Instrument, Convertible, Period After Date of Issuance	180 days
Debt Instrument, Convertible, Conversion Price, Percentage Discount of Common Stock Trading Price	40.00%
Debt Instrument, Covenant, Number of Times that Authorized and Unissued Common Stock Shares Must Be Greater Than the Number of Shares Issuable Upon Note Conversion	7
Debt Instrument, Debt Default, Interest Rate, Stated Percentage	24.00%
Debt Instrument, Debt Default, Repayment Amount of Outstanding Principal Plus Accrued and Unpaid Interest, Percentage	150.00%
Debt Instrument, Amendment Fee			35,000
Interest Expense, Total			68,076
Amortization of Debt Discount (Premium)			$ 21,959
Debt, Long-term and Short-term, Combined Amount, Total				0
Interest Expense, Debt, Total				$ 0
Convertible Promissory Notes 12% [Member] | Subsequent Event [Member]
Debt Instrument, Amendment Fee		$ 52,000
Debt Instrument, Amendment Fee, Percent of Face Value		15.00%
Convertible Promissory Notes 12% [Member] | EMA Financial, LLC [Member] | Maximum [Member]
Debt Instrument, Extension Term	1 year
Convertible Promissory Notes 12% [Member] | Auctus Fund, LLC [Member]
Debt Instrument, Face Amount	$ 175,000
Convertible Promissory Notes 12% [Member] | EMA Financial, LLC [Member]
Debt Instrument, Face Amount	$ 175,000
Warrants Issued to Investors [Member] | EMA Financial, LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	233,333

Note 7 - Equity and Stock-bas_3

Note 7 - Equity and Stock-based Compensation (Details Textual)	May 28, 2018USD ($)shares	May 05, 2016USD ($)$ / sharesshares	Mar. 31, 2019USD ($)$ / sharesshares	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)$ / sharesshares	Sep. 30, 2018$ / shares	Sep. 17, 2018shares	Aug. 04, 2016shares
Authorized Shares, Common and Preferred			101,000,000
Common Stock, Shares Authorized			100,000,000		100,000,000
Preferred Stock, Shares Authorized			1,000,000		1,000,000
Preferred Stock, Par or Stated Value Per Share | $ / shares			$ 0.0001		$ 0.001
Stock Issued During Period, Shares, New Issues	1,000,000
Preferred Stock, Liquidation Preference, Value | $			$ 29,038,000		$ 29,038,000
Proceeds from Issuance of Common Stock | $	$ 500,000
Issuance of Options to Settle Accrued Compensation Liabilities | $			$ 50,000
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			1,786,524
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			125,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $			$ 2,600
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period			0
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $			$ 0
Warrants Issued to Investors [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							466,666
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares						$ 0.15
Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		6,180,000
Additional Paid-in Capital [Member] | The 2016 Omnibus Plan [Member]
Issuance of Options to Settle Accrued Compensation Liabilities | $			$ 50,000
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
Preferred 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 7 - Equity and Stock-bas_4

Note 7 - Equity and Stock-based Compensation - Stock Option Activity (Details) - The 2016 Omnibus Plan [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Shares outstanding (in shares)	1,616,876
Shares outstanding, weighted-average exercise price (in dollars per share)	$ 0.50
Shares outstanding, weighted-average remaining contractual term (Year)	5 years 167 days	5 years 200 days
Shares outstanding, aggregate intrinsic value
Shares granted (in shares)	125,000
Shares granted, weighted-average exercise price (in dollars per share)	$ 0.40
Shares granted, weighted-average remaining contractual term (Year)	7 years
Shares exercised (in shares)	0
Shares exercised, weighted-average exercise price (in dollars per share)
Shares forfeited or expired (in shares)
Shares forfeited or expired, weighted-average exercise price (in dollars per share)
Shares outstanding (in shares)	1,741,876	1,616,876
Shares outstanding, weighted-average exercise price (in dollars per share)	$ 0.49	$ 0.50
Shares exercisable (in shares)	1,741,876
Shares exercisable, weighted-average exercise price (in dollars per share)	$ 0.49
Shares exercisable, weighted-average remaining contractual term (Year)	5 years 167 days

Note 7 - Equity and Stock-bas_5

Note 7 - Equity and Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based compensation		$ 2,983
Selling and Marketing Expense [Member]
Share-based compensation		1,324
General and Administrative Expense [Member]
Share-based compensation		$ 1,659

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Details Textual)	3 Months Ended
	Mar. 31, 2019USD ($)ft²
Pending Litigation [Member]
Loss Contingency, Estimate of Possible Loss	$ 46,000
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	$ 19,300
Operating Leases, Deferred Monthly Rent Amount	$ 100,000