Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2019 | Jan. 27, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | Nuo Therapeutics, Inc. | |
Entity Central Index Key | 0001091596 | |
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 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Interactive Data Current | Yes |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
ASSETS | ||
Cash and cash equivalents | $ 17,328 | $ 636,927 |
Accounts receivable, net | 22,170 | |
Inventory, net | 3,083 | 25,348 |
Prepaid expenses and other current assets | 3,591 | 182,243 |
Total current assets | 24,002 | 866,688 |
Property and equipment, net | 14,493 | 105,479 |
Deferred costs and other assets | 3,330 | |
Total assets | 38,495 | 975,497 |
LIABILITIES AND STOCKHOLDERS' DEFICIT | ||
Accounts payable | 649,831 | 437,325 |
Accrued expenses and liabilities | 204,039 | 285,199 |
Accrued interest payable | 45,645 | 12,166 |
Convertible notes, net | 410,000 | 309,010 |
Derivative liabilities | 13,784 | 13,784 |
Total liabilities | 1,323,299 | 1,057,484 |
Commitments and contingencies (Note 8) | ||
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 | (23,469,452) | (22,216,635) |
Total stockholders' deficit | (1,284,804) | (81,987) |
Total liabilities and stockholders' deficit | $ 38,495 | $ 975,497 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
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 | 23,722,400 |
Common stock, shares outstanding (in shares) | 23,722,400 | 23,722,400 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Revenue: | ||||
Revenue | $ 57,883 | $ 260,280 | $ 141,277 | $ 558,532 |
Costs of revenue | ||||
Costs of sales | 34,709 | 44,856 | 97,038 | 132,083 |
Total costs of revenue | 34,709 | 44,856 | 97,038 | 132,083 |
Gross profit | 23,174 | 215,424 | 44,239 | 426,449 |
Operating expenses | ||||
Sales and marketing | 16,856 | 30,457 | 98,907 | |
Research and development | 2,700 | 95,486 | 181,185 | 493,588 |
General and administrative | 59,166 | 514,876 | 875,567 | 1,496,138 |
Total operating expenses | 61,866 | 627,218 | 1,087,209 | 2,088,633 |
Loss from operations | (38,692) | (411,794) | (1,042,970) | (1,662,184) |
Other income (expense) | ||||
Interest, net | (39,242) | (18,253) | (204,317) | (18,620) |
Fair value of derivatives in excess of convertible notes | (234,824) | (234,824) | ||
Change in fair value of derivative liabilities | 3,997 | 3,997 | ||
Other | (14,686) | 10,996 | (5,530) | 1,343 |
Total other income (expense) | (53,928) | (238,084) | (209,847) | (248,104) |
Net loss | $ (92,620) | $ (649,878) | $ (1,252,817) | $ (1,910,288) |
Loss per common share | ||||
Basic (in dollars per share) | $ 0 | $ (0.03) | $ (0.05) | $ (0.08) |
Diluted (in dollars per share) | $ 0 | $ (0.03) | $ (0.05) | $ (0.08) |
Weighted average common shares outstanding | ||||
Basic (in shares) | 23,722,400 | 23,722,400 | 23,722,400 | 23,128,993 |
Diluted (in shares) | 23,722,400 | 23,722,400 | 23,722,400 | 23,128,993 |
Product [Member] | ||||
Revenue: | ||||
Revenue | $ 57,883 | $ 65,280 | $ 141,277 | $ 270,375 |
Royalty [Member] | ||||
Revenue: | ||||
Revenue | $ 195,000 | $ 288,157 |
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, 2017 | 29,038 | 22,722,400 | |||
Balance at Dec. 31, 2017 | $ 3 | $ 2,272 | 21,155,404 | (20,674,808) | 482,871 |
Net loss | (1,910,288) | ||||
Balance (in shares) at Sep. 30, 2018 | 29,038 | 23,722,400 | |||
Balance at Sep. 30, 2018 | $ 3 | $ 2,372 | 22,000,902 | (22,585,096) | (581,819) |
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) |
Net loss | (590,163) | (590,163) | |||
Stock-based compensation | 1,371 | 1,371 | |||
Issuance of common stock (in shares) | 1,000,000 | ||||
Issuance of common stock | $ 100 | 499,900 | 500,000 | ||
Balance (in shares) at Jun. 30, 2018 | 29,038 | 23,722,400 | |||
Balance at Jun. 30, 2018 | $ 3 | $ 2,372 | 21,659,658 | (21,935,218) | (273,185) |
Issuance of options to settle related party compensation liabilities | 321,250 | 321,250 | |||
Net loss | (649,878) | (649,878) | |||
Stock-based compensation | 1,370 | 1,370 | |||
Warrant issued in conjunction with convertible notes | 18,624 | 18,624 | |||
Balance (in shares) at Sep. 30, 2018 | 29,038 | 23,722,400 | |||
Balance at Sep. 30, 2018 | $ 3 | $ 2,372 | 22,000,902 | (22,585,096) | (581,819) |
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) |
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) |
Net loss | (1,252,817) | ||||
Balance (in shares) at Sep. 30, 2019 | 29,038 | 23,722,400 | |||
Balance at Sep. 30, 2019 | $ 3 | $ 2,372 | 22,182,273 | (23,469,452) | (1,284,804) |
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) |
Net loss | (480,288) | (480,288) | |||
Balance (in shares) at Jun. 30, 2019 | 29,038 | 23,722,400 | |||
Balance at Jun. 30, 2019 | $ 3 | $ 2,372 | 22,182,273 | (23,376,832) | (1,192,184) |
Net loss | (92,620) | (92,620) | |||
Balance (in shares) at Sep. 30, 2019 | 29,038 | 23,722,400 | |||
Balance at Sep. 30, 2019 | $ 3 | $ 2,372 | $ 22,182,273 | $ (23,469,452) | $ (1,284,804) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (1,252,817) | $ (1,910,288) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 75,366 | 76,994 |
Fair value of derivatives in excess of convertible notes | 234,824 | |
Change in fair value of derivative liabilities | (3,997) | |
Stock-based compensation | 5,724 | |
Bad debt provision (recovery) | 1,170 | (239,660) |
Inventory write-off | 13,822 | |
Increase (decrease) in allowance for inventory obsolescence | (8,225) | 6,464 |
Loss on the disposal of fixed assets | 15,620 | 13,938 |
Amortization of debt discount | 40,990 | 16,667 |
Non-cash increase in convertible note | 60,000 | |
Changes in operating assets and liabilities: | ||
Accounts and other receivables | 21,000 | 99,438 |
Inventory | 16,668 | (4,940) |
Prepaid expenses and other current assets | 178,652 | 266,622 |
Other assets | 3,330 | |
Accounts payable | 212,506 | 100,720 |
Accrued expenses and liabilities | (31,160) | 79,175 |
Accrued interest | 33,479 | 1,506 |
Other liabilities | (4,331) | |
Net cash used in operating activities | (619,599) | (1,261,144) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Proceeds from sale of equipment | 2,000 | |
Net cash provided by investing activities | 2,000 | |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of common stock | 500,000 | |
Proceeds from convertible notes, net | 315,800 | |
Net cash provided by financing activities | 815,800 | |
Net decrease in cash, cash equivalents and restricted cash | (619,599) | (443,344) |
Cash, cash equivalents and restricted cash at beginning of period | 636,927 | 693,515 |
Cash, cash equivalents and restricted cash at end of period | 17,328 | 250,171 |
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 | 321,250 | |
Debt discount related to issuance of warrants | $ 18,624 |
Note 1 - Description of Busines
Note 1 - Description of Business | 9 Months Ended |
Sep. 30, 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 | 9 Months Ended |
Sep. 30, 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 September 30, 2019, September 30, 2019, $17,000. 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% September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Customer A - % 58 % Customer B - % 29 % Revenue from significant customers exceeding 10% Three months ended September 30, 2019 Three months ended September 30, 2018 Customer A 78 % - % Customer C - % 75 % Nine months ended September 30, 2019 Nine months ended September 30, 2018 Customer A 52 % - % Customer C - % 52 % Customer D 13 % - % Customer E 12 % - % Customer F 11 % - % 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 September 30, 2019 December 31, 2018, zero $2,000, March 29, 2018, $240,000 nine September 30, 2018. Inventory, net Our inventory is produced by third first first 18 two As of September 30, 2019, $2,000 $2,000 December 31, 2018, $15,000 $17,000 We provide for an allowance against inventory for estimated losses that may September 30, 2019 December 31, 2018, $1,000 $7,000, nine September 30, 2019, $8,000 $14,000 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% 75% three September 30, 2019 2018, 11% 52% nine September 30, 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 nine September 30, 2019 2018. Nine months ended September 30, 2019 Nine months ended September 30, 2018 Shares underlying: Common stock options 1,741,876 1,291,876 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 | 9 Months Ended |
Sep. 30, 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 $40, not third first no $250,000 |
Note 4 - Receivables
Note 4 - Receivables | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | Note 4 Accounts receivable, net consisted of the following: September 30, 2019 December 31, 2018 Trade receivables $ - $ 24,145 Less allowance for doubtful accounts - (1,975 ) Accounts receivable, net $ - $ 22,170 The allowance for doubtful accounts at December 31, 2018 $2,000 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5 Property and equipment, net consisted of the following: September 30, 2019 December 31, 2018 Medical equipment $ 387,665 $ 393,156 Office equipment - 38,104 Software - 257,619 Manufacturing equipment - 15,640 Leasehold improvements - 19,215 387,665 723,734 Less accumulated depreciation and amortization (373,172 ) (618,255 ) Property and equipment, net $ 14,493 $ 105,479 Depreciation expense of property and equipment was approximately $24,000 $25,000 three September 30, 2019 2018, $75,000 $77,000 nine September 30, 2019 2018, September 30, 2019 $16,000. |
Note 6 - Convertible Notes and
Note 6 - Convertible Notes and Stock Purchase Warrants | 9 Months Ended |
Sep. 30, 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 had an original maturity date nine June 17, 2019) 12% may 130% 90 145% 91 180 not 181 may no may one June 17, 2020 third Under the original terms of the notes, 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. June 11, 2019 August 6, 2019, may September 17, 2019 $69,000 20% $30,000 $205,000. July 31, 2019. Interest expense, net was $204,317 nine September 30, 2019 $40,990 $69,000 $60,000 $39,242 three September 30, 2019 $7,000 $20,000 three nine September 30, 2018, $18,000 $19,000, See Note x Subsequent Events December 2018 |
Note 7 - Equity and Stock-based
Note 7 - Equity and Stock-based Compensation | 9 Months Ended |
Sep. 30, 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 September 30, 2019. A summary of stock option activity under the 2016 nine September 30, 2019 Stock Options – 2016 Omnibus Plan Shares Weighted Average Weighted Aggregate Outstanding at January 1, 2019 1,616,876 $ 0.50 6.96 $ - Granted 125,000 $ 0.40 7.00 Exercised - $ - - Forfeited or expired - $ - - Outstanding at September 30, 2109 1,741,876 $ 0.49 6.22 $ - Exercisable at September 30, 2019 1,741,876 $ 0.49 6.22 $ - There were 125,000 2016 nine September 30, 2019 nine September 30, 2019 $2,600. $50,000 No nine September 30, 2019. September 30, 2019, no The Company recorded stock-based compensation expense in the periods presented as follows: Three Months ended September 30, 2019 Three Months ended September 30, 2018 Research and development $ - $ 721 General and administrative - 649 $ - $ 1,370 Nine Months ended September 30, 2019 Nine Months ended September 30, 2018 Research and development $ - $ 2,766 General and administrative - 2,958 $ - $ 5,724 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 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 Effective September 30, 2019, 3,000 $4,800 August 1, 2018, first 9,000 three $100,000. July 2019, As of September 30, 2019, $159,000 |
Note 9 - Susbequent Events
Note 9 - Susbequent Events | 9 Months Ended |
Sep. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 9 On November 15, 2019 December 6, 2019, 12% $305,000. June 30, 2020 12% 457,500 first second December 6, 2019 On December 10, 2019, fifth $220,000 350,000 February 10, 2020. 10 September 30, 2019. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 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 September 30, 2019, September 30, 2019, $17,000. 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% September 30, 2019 December 31, 2018 September 30, 2019 December 31, 2018 Customer A - % 58 % Customer B - % 29 % Revenue from significant customers exceeding 10% Three months ended September 30, 2019 Three months ended September 30, 2018 Customer A 78 % - % Customer C - % 75 % Nine months ended September 30, 2019 Nine months ended September 30, 2018 Customer A 52 % - % Customer C - % 52 % Customer D 13 % - % Customer E 12 % - % Customer F 11 % - % 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 September 30, 2019 December 31, 2018, zero $2,000, March 29, 2018, $240,000 nine September 30, 2018. |
Inventory, Policy [Policy Text Block] | Inventory, net Our inventory is produced by third first first 18 two As of September 30, 2019, $2,000 $2,000 December 31, 2018, $15,000 $17,000 We provide for an allowance against inventory for estimated losses that may September 30, 2019 December 31, 2018, $1,000 $7,000, nine September 30, 2019, $8,000 $14,000 |
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% 75% three September 30, 2019 2018, 11% 52% nine September 30, 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 nine September 30, 2019 2018. Nine months ended September 30, 2019 Nine months ended September 30, 2018 Shares underlying: Common stock options 1,741,876 1,291,876 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) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | September 30, 2019 December 31, 2018 Customer A - % 58 % Customer B - % 29 % Three months ended September 30, 2019 Three months ended September 30, 2018 Customer A 78 % - % Customer C - % 75 % Nine months ended September 30, 2019 Nine months ended September 30, 2018 Customer A 52 % - % Customer C - % 52 % Customer D 13 % - % Customer E 12 % - % Customer F 11 % - % |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Nine months ended September 30, 2019 Nine months ended September 30, 2018 Shares underlying: Common stock options 1,741,876 1,291,876 Stock purchase warrants 6,646,666 6,180,000 |
Note 4 - Receivables (Tables)
Note 4 - Receivables (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2019 December 31, 2018 Trade receivables $ - $ 24,145 Less allowance for doubtful accounts - (1,975 ) Accounts receivable, net $ - $ 22,170 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2019 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 2019 December 31, 2018 Medical equipment $ 387,665 $ 393,156 Office equipment - 38,104 Software - 257,619 Manufacturing equipment - 15,640 Leasehold improvements - 19,215 387,665 723,734 Less accumulated depreciation and amortization (373,172 ) (618,255 ) Property and equipment, net $ 14,493 $ 105,479 |
Note 7 - Equity and Stock-bas_2
Note 7 - Equity and Stock-based Compensation (Tables) | 9 Months Ended |
Sep. 30, 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 6.96 $ - Granted 125,000 $ 0.40 7.00 Exercised - $ - - Forfeited or expired - $ - - Outstanding at September 30, 2109 1,741,876 $ 0.49 6.22 $ - Exercisable at September 30, 2019 1,741,876 $ 0.49 6.22 $ - |
Share-based Payment Arrangement, Cost by Plan [Table Text Block] | Three Months ended September 30, 2019 Three Months ended September 30, 2018 Research and development $ - $ 721 General and administrative - 649 $ - $ 1,370 Nine Months ended September 30, 2019 Nine Months ended September 30, 2018 Research and development $ - $ 2,766 General and administrative - 2,958 $ - $ 5,724 |
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 | 9 Months Ended | |||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 17,328 | $ 17,328 | $ 636,927 | ||
Accounts Receivable, Allowance for Credit Loss, Ending Balance | 0 | 0 | 2,000 | ||
Accounts Receivable, Credit Loss Expense (Reversal) | 1,170 | $ (239,660) | |||
Inventory, Finished Goods, Gross, Total | 2,000 | 2,000 | 15,000 | ||
Inventory, Raw Materials, Gross, Total | 2,000 | 2,000 | 17,000 | ||
Inventory Valuation Reserves, Ending Balance | $ 1,000 | 1,000 | $ 7,000 | ||
Increase (Decrease) in Allowance for Inventory Obsolescence | (8,225) | 6,464 | |||
Inventory Write-down | $ 13,822 | ||||
Percentage of Revenues Generated Outside of United States | 0.00% | 75.00% | 11.00% | 52.00% | |
Income Tax Examination, Penalties and Interest Expense, Total | $ 0 | $ 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 |
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 | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Dec. 31, 2018 | |
Accounts Receivable [Member] | Customer A [Member] | |||||
Concentration percentage | 58.00% | ||||
Accounts Receivable [Member] | Customer B [Member] | |||||
Concentration percentage | 29.00% | ||||
Revenue Benchmark [Member] | Customer A [Member] | |||||
Concentration percentage | 78.00% | 52.00% | |||
Revenue Benchmark [Member] | Customer C [Member] | |||||
Concentration percentage | 75.00% | 52.00% | |||
Revenue Benchmark [Member] | Customer D [Member] | |||||
Concentration percentage | 13.00% | ||||
Revenue Benchmark [Member] | Customer E [Member] | |||||
Concentration percentage | 12.00% | ||||
Revenue Benchmark [Member] | Customer F [Member] | |||||
Concentration percentage | 11.00% |
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 | 9 Months Ended | |
Sep. 30, 2019 | Sep. 30, 2018 | |
Share-based Payment Arrangement, Option [Member] | ||
Anti-dilutive securities (in shares) | 1,741,876 | 1,291,876 |
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 ($) |
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 | $ 40 |
Note 4 - Receivables (Details T
Note 4 - Receivables (Details Textual) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Accounts Receivable, Allowance for Credit Loss, Current | $ 1,975 | |
Trade Accounts Receivable [Member] | ||
Accounts Receivable, Allowance for Credit Loss, Current | $ 2,000 |
Note 4 - Receivables - Accounts
Note 4 - Receivables - Accounts and Other Receivable, Net (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Less allowance for doubtful accounts | $ (1,975) | |
Accounts receivable, net | 22,170 | |
Trade Accounts Receivable [Member] | ||
Accounts receivable, gross | 24,145 | |
Less allowance for doubtful accounts | $ (2,000) |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Depreciation, Total | $ 24,000 | $ 25,000 | $ 75,000 | $ 77,000 |
All Property and Equipment Except Medical Equipment [Member] | ||||
Gain (Loss) on Disposition of Property Plant Equipment, Excluding Oil and Gas Property and Timber Property | $ (16,000) |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Property and Equipment, Net (Details) - USD ($) | Sep. 30, 2019 | Dec. 31, 2018 |
Property, plant, and equipment, gross | $ 387,665 | $ 723,734 |
Less accumulated depreciation and amortization | (373,172) | (618,255) |
Property and equipment, net | 14,493 | 105,479 |
Medical Equipment [Member] | ||
Property, plant, and equipment, gross | 387,665 | 393,156 |
Office Equipment [Member] | ||
Property, plant, and equipment, gross | 38,104 | |
Technology Equipment [Member] | ||
Property, plant, and equipment, gross | 257,619 | |
Manufacturing Equipment [Member] | ||
Property, plant, and equipment, gross | 15,640 | |
Leasehold Improvements [Member] | ||
Property, plant, and equipment, gross | $ 19,215 |
Note 6 - Convertible Notes an_2
Note 6 - Convertible Notes and Stock Purchase Warrants (Details Textual) - USD ($) | Aug. 06, 2019 | Sep. 17, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 |
Proceeds from Convertible Debt | $ 315,800 | |||||
Amortization of Debt Discount (Premium) | 40,990 | 16,667 | ||||
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% | |||||
Debt Instrument, Face Amount | $ 205,000 | |||||
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 | $ 69,000 | 69,000 | ||||
Debt Instrument, Amendment Fee, Percent of Face Value | 20.00% | |||||
Debt Instrument, Increase (Decrease) in Principal of Each Note | $ 30,000 | |||||
Interest Expense, Total | $ 39,242 | $ 18,000 | 204,317 | $ 19,000 | ||
Amortization of Debt Discount (Premium) | 7,000 | 40,990 | ||||
Debt Instrument, Increase (Decrease) in Principal | $ 20,000 | $ 60,000 | ||||
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 |
Note 7 - Equity and Stock-bas_3
Note 7 - Equity and Stock-based Compensation (Details Textual) | May 28, 2018USD ($)shares | May 05, 2016USD ($)$ / sharesshares | Jun. 30, 2018shares | Sep. 30, 2019USD ($)$ / sharesshares | Sep. 30, 2018USD ($) | Dec. 31, 2018USD ($)$ / sharesshares | Sep. 17, 2018$ / sharesshares | 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 | $ 0.0001 | ||||||
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 | $ 500,000 | ||||||
Issuance of Options to Settle Accrued Compensation Liabilities | $ | $ 321,250 | |||||||
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] | ||||||||
Stock Issued During Period, Shares, New Issues | 1,000,000 | |||||||
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 ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 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) | 6 years 80 days | 6 years 350 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) | 6 years 80 days |
Note 7 - Equity and Stock-bas_5
Note 7 - Equity and Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2019 | Sep. 30, 2018 | Sep. 30, 2019 | Sep. 30, 2018 | |
Share-based compensation | $ 1,370 | $ 5,724 | ||
Selling and Marketing Expense [Member] | ||||
Share-based compensation | 721 | 2,766 | ||
General and Administrative Expense [Member] | ||||
Share-based compensation | $ 649 | $ 2,958 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Details Textual) | Aug. 01, 2018USD ($)a | Sep. 30, 2019USD ($)a |
Operating Lease, Liability, Total | $ 159,000 | |
Office and Warehouse Facilities in Gaithersburg, Maryland Leases [Member] | ||
Operating Leases, Area | a | 9,000 | 3,000 |
Operating Leases, Monthly Rent Expense | $ 4,800 | |
Operating Leases, Deferred Monthly Rent Amount | $ 100,000 |
Note 9 - Susbequent Events (Det
Note 9 - Susbequent Events (Details Textual) - USD ($) | Dec. 10, 2019 | Dec. 06, 2019 | Aug. 06, 2019 | Sep. 17, 2018 |
Warrants Issued to Investors [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 466,666 | |||
Subsequent Event [Member] | Warrants Issued to Investors [Member] | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 457,500 | |||
Senior Secured promissory Notes 12% [Member] | Subsequent Event [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||
Debt Instrument, Face Amount | $ 305,000 | |||
Convertible Promissory Notes 12% [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||
Debt Instrument, Face Amount | $ 205,000 | |||
Convertible Promissory Notes 12% [Member] | Subsequent Event [Member] | ||||
Debt Instrument, Aggregate Amount for Settlement and Extinguishment | $ 220,000 | |||
Debt Instrument, Convertible, Number of Shares Issuable | 350,000 |