| Significant Accounting Policies [Text Block] | Note 3 Liquidity and Summary of Significant Accounting Principles 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. During the year ended December 31, 2018, no The accompanying unaudited 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, 2021. 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 Basic and Diluted Earnings (Loss) per Share In periods of net loss, basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. In periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all potential dilutive common shares is anti-dilutive. For periods of net income, diluted earnings per share is computed using the more dilutive of the “treasury method” or “two class method.” Dilutive earnings per share under the “treasury method” is calculated by dividing net income available to common stockholders by the weighted- average number of shares outstanding plus the dilutive impact of all potential dilutive common shares, consisting primarily of common shares underlying common stock options and stock purchase warrants using the treasury stock method, and convertible notes using the if-converted method. Because none The following table provides a reconciliation of the numerator and denominators used in the calculation of basic and diluted earnings (loss) per share for the three six nine March 30, June 30, September 30, 2020, For the, Nine Months Ended September 30, 2020 Six Months Ended June 30, 2020 Three Months Ended March 31, 2020 Net Income $ 142,988 $ 158,467 $ 181,399 Weighted average shares outstanding - basic 24,152,874 24,105,092 23,962,785 Net Earnings per Share - basic $ 0.01 $ 0.01 $ 0.01 Net Income Available to Common Shareholders - basic $ 142,988 $ 158,467 $ 181,399 Interest and gain on extinguishment of convertible debt (241,138 ) (241,138 ) (241,138 ) Net Loss Available to Common Shareholders - diluted $ (98,150 ) $ (82,671 ) $ (59,739 ) Weighted average shares outstanding - diluted 26,310,807 27,353,849 30,460,299 The following table sets forth the potential dilutive securities excluded from the calculation of diluted earnings (loss) per share for the years ended December 31, 2021, 2020 2019: For the, For the, Nine Months Ended September 30, 2021 Six Months Ended June 30, 2021 Three Months Ended March 31, 2021 Nine Months Ended September 30, 2020 Six Months Ended June 30, 2020 Three Months Ended March 31, 2020 Options 1,355,001 1,355,001 1,355,001 1,355,001 1,355,001 1,355,001 Warrants 7,098,794 7,098,794 13,278,794 7,104,166 7,104,166 7,104,166 8,453,795 8,453,795 14,633,795 8,459,167 8,459,167 8,459,167
Recently Adopted Accounting Standards In February 2016, January 1, 2019, not We have evaluated all other issued and unadopted Accounting Standards Updates and believe the adoption of these standards will not | Note 3 Liquidity and Summary of Significant Accounting Principles 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. In mid- 2019, April 2021 2021, 2020 2019, We have incurred, and continue to incur, recurring losses and negative cash flows. As of December 31, 2021, 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 12 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 Basis of Presentation and Principles of Consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of the Company and its wholly-owned, controlled, and inactive 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 One 2019. 2019 December 31, 2021, 2020, 2019 April 2019 Historically, we 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 $250,000 December 31, 2021. Property and Equipment 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 December 31, 2019, 2019 $15,620. Revenue Recognition The Company analyzes its revenue arrangements 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 As a result of the circumstances more fully described above, we had no revenues in 2021 2020. 2019, $146,000 Stock-Based Compensation The fair value of employee stock options is measured at the date of grant. Expected volatilities for the 2016 five 2021 2020 Risk free rate 0.26 % 0.33 % Weighted average expected years until exercise 5 5 Expected stock volatility 100 % 100 % Dividend yield - - 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. Tax rate changes are reflected in income during the period such changes are enacted. We measure our deferred tax assets and liabilities using the enacted tax rates that we believe will apply in the years in which the temporary differences are expected to be recovered or paid. 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 material penalties and interest incurred in 2021, 2020 2019. Basic and Diluted Earnings (Loss) per Share In periods of net loss, basic loss per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. In periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all potential dilutive common shares is anti-dilutive. For periods of net income, diluted earnings per share is computed using the more dilutive of the “treasury method” or “two class method.” Dilutive earnings per share under the “treasury method” is calculated by dividing net income available to common stockholders by the weighted- average number of shares outstanding plus the dilutive impact of all potential dilutive common shares, consisting primarily of common shares underlying common stock options and stock purchase warrants using the treasury stock method, and convertible notes using the if-converted method. Because none The following table provides a reconciliation of the numerator and denominators used in the calculation of basic and diluted earnings (loss) per share for the years ended December 31, 2021, 2020 2019: For the year ended December 31, 2021 2020 2019 Net Loss $ (90,670 ) $ (90,870 ) $ (1,194,894 ) Deemed dividends (contributions): Gain on exchange of preferred stock - 7,958,075 - Warrant modification (795,592 ) - - Reset of pricing on cashless exercise of warrant - (158,381 ) - (795,592 ) 7,799,694 - Net Income (Loss) Available to Common Shareholders - Basic $ (886,262 ) $ 7,708,824 $ (1,194,894 ) Weighted average shares outstanding - basic 30,296,376 25,692,248 23,722,400 Net Earnings (Loss) per Share - basic $ (0.03 ) $ 0.30 $ (0.05 ) Net Income (Loss) per Share - Basic $ (886,262 ) $ 7,708,824 $ (1,194,894 ) Interest and gain on extinguishment of convertible debt - (241,138 ) - Net Income (Loss) Available to Common Shareholders - diluted $ (886,262 ) $ 7,467,686 $ (1,194,894 ) Weighted average shares outstanding - diluted 30,296,376 27,312,176 23,722,400 Net Earnings (Loss) per Share - diluted $ (0.03 ) $ 0.27 $ (0.05 ) The following table sets forth the potential dilutive securities excluded from the calculation of diluted earnings (loss) per share for the years ended December 31, 2021, 2020 2019: For the year ended December 31, 2021 2020 2019 Options 1,355,001 1,355,001 1,741,876 Warrants 233,333 13,278,794 7,104,166 Convertible Debt - - 23,012,568 1,588,334 14,633,795 31,858,610
Recent Accounting Developments In November 2019, ● exception to the incremental approach for intra-period tax allocation when there is a loss from continuing operations and income or a gain from other items, ● exception requirement to recognize a deferred tax liability for equity method investments when a foreign subsidiary becomes an equity method investment, ● exception to the ability not ● exception to the general methodology for calculating income taxes in an interim period when a year-to-date loss exceeds the anticipated loss the year. The guidance also simplify accounting for income taxes by doing the following: ● requiring that an entity recognize a franchise tax or similar tax that is partially based on income as an income-based tax and account for any incremental amount incurred as a non-income-based tax, ● requiring that an entity evaluate when a step up in the tax basis of goodwill should be considered part of the business combination in which the book goodwill was originally recognized and when it should be considered a separate transaction, ● specifying that an entity is not not ● requiring that an entity reflect the effect of an enacted change in tax laws or rates in the annual effective tax rate computation in the interim period that includes the enactment date, and ● making minor Codification improvements for income taxes related to employee stock ownership plans and investments in qualified affordable housing projects accounted for using the equity method. The Company adopted the new guidance on January 1, 2021, not In February 2016, January 1, 2019, not In August 2020, December 15, 2023, The Company does not not |
