Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 31, 2017 | Sep. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | OCULUS VISIONTECH INC. | ||
Entity Central Index Key | 1,107,280 | ||
Trading Symbol | ovtz | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 45,572,568 | ||
Entity Public Float | $ 4,623,487 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
ASSETS | ||
Cash and cash equivalents | $ 6,425 | $ 187,097 |
Prepaid expenses and other current assets | 62,151 | 6,338 |
Total current assets | 68,576 | 193,435 |
Deferred Tax Assets, net of valuation allowance of $10,466,000 and $10,312,000, respectively | ||
Total Assets | 68,576 | 193,435 |
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY) | ||
Accounts payable and accrued expenses | 120,467 | 19,846 |
Accounts payable and accrued expenses - related parties | 269,665 | 41,905 |
Total current liabilities | 390,132 | 61,751 |
Commitments and Contingencies | ||
Stockholders' Equity (Deficiency): | ||
Preferred stock - no par value; authorized 250,000,000 shares, none issued | 0 | 0 |
Common stock - no par value; authorized 500,000,000 shares, issued and outstanding 45,572,568 | 40,458,297 | 40,458,297 |
Accumulated deficit | (40,779,853) | (40,326,613) |
Stockholders' equity (deficiency) | (321,556) | 131,684 |
Total Liabilities and Stockholders' Equity (Deficiency) | $ 68,576 | $ 193,435 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets, valuation allowance | $ 10,466,000 | $ 10,312,000 |
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 250,000,000 | 250,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 45,572,568 | 45,572,568 |
Common stock, shares outstanding (in shares) | 45,572,568 | 45,572,568 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 0 | $ 5,500 |
Expenses: | ||
Cost of sales | 425 | |
Research and development | 240,370 | 138,431 |
Selling, general and administrative | 212,870 | 236,662 |
Total expenses | 453,240 | 375,518 |
Loss from operations | (453,240) | (370,018) |
Other income (expense), net: | ||
Interest expense | (21,455) | |
Gain on settlement of accounts payable | 4,889 | |
Total other income (expense) | (16,566) | |
Net loss | $ (453,240) | $ (386,584) |
Net loss per share - basic and diluted (in dollars per share) | $ (0.01) | $ (0.02) |
Weighted-average number of common shares outstanding - basic and diluted (in shares) | 45,572,568 | 20,304,808 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficiency) - USD ($) | Common Stock Including Additional Paid in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2014 | 13,572,568 | ||
Balance at Dec. 31, 2014 | $ 38,755,638 | $ (39,940,029) | $ (1,184,391) |
Sale of common stock, net of $25,341 of issuance cost (in shares) | 32,000,000 | 5,800,000 | |
Sale of common stock, net of $25,341 of issuance cost | $ 1,702,659 | $ 1,702,659 | |
Net loss | (386,584) | (386,584) | |
Balance (in shares) at Dec. 31, 2015 | 45,572,568 | ||
Balance at Dec. 31, 2015 | $ 40,458,297 | (40,326,613) | 131,684 |
Net loss | (453,240) | (453,240) | |
Balance (in shares) at Dec. 31, 2016 | 45,572,568 | ||
Balance at Dec. 31, 2016 | $ 40,458,297 | $ (40,779,853) | $ (321,556) |
Consolidated Statements of Sto6
Consolidated Statements of Stockholders' Equity (Deficiency) (Parentheticals) | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Common Stock Including Additional Paid in Capital [Member] | |
Sale of common stock, issuance cost | $ 25,341 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows | 12 Months Ended | |
Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Cash flows from operating activities: | ||
Net loss | $ (453,240) | $ (386,584) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Gain on settlement of accounts payable | (4,889) | |
Changes in operating assets and liabilities: | ||
Decrease (increase) in accounts receivable | 11,000 | |
Decrease (increase) in prepaid expenses and other current assets | (17,813) | (461) |
Increase (decrease) in accounts payable and accrued expenses | 62,621 | (41,849) |
Increase (decrease) in accounts payable and accrued expenses due to related parties | 227,760 | (515,321) |
Net cash used in operating activities | (180,672) | (938,104) |
Cash flows from financing activities | ||
Proceeds from the sale of common stock and warrants | 1,728,000 | |
Commission on sale of common stock | (25,341) | |
Notes payable, net payments | (58,399) | |
Notes payable - related parties, net payments | (520,947) | |
Net cash from financing activities | 1,123,313 | |
Net increase in cash and cash equivalents | (180,672) | 185,209 |
Cash and cash equivalents at beginning of year | 187,097 | 1,888 |
Cash and cash equivalents at end of year | 6,425 | 187,097 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the year for interest | 127,768 | |
Cash paid during the year for income tax | ||
Non-cash investing and financing activities: | ||
Prepaid expenses and other current assets | 38,000 | |
Accounts payable and accrued expenses | $ (38,000) |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. BASIS OF PRESENTATION: The following consolidated financial statements present the financial results of Oculus VisionTech, Inc., and its wholly owned subsidiary USVO Inc. on a consolidated basis. |
Note 2 - Business
Note 2 - Business | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 2. BUSINESS: Oculus Vision Tech, Inc. (the " Company December 31, 2016 two |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 3. SUMMARY OF Significant Accounting Policies: The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern. As shown in the financial statements, the Company has incurred losses of $453,240 $386,584 December 31, 2016 2015, $321,556 $40,779,853 December 31, 2016. The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiar y. All intercompany accounts and transactions have been eliminated. The Company maintains cash in bank deposit accounts which, at times, may The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management 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 amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates. The Company considers all highly liquid investments with original maturities of three The Company sells its products to customers on an open credit basis. The Company ’s trade accounts receivable are due from such customers and are generally uncollateralized. Management closely monitors outstanding accounts receivable and charges off to expense any balances that are determined to be uncollectible or establishes an allowance for doubtful accounts. As of December 31, 2016 2015, Revenue from hardware product sales is recognized when the product has been shipped and the collection of payment is reasonably assured. Revenue recognized from these sales is net of applicable provisions for refunds, discounts and allowances. Engineering services sales are recognized upon the service having been provided. The Company had no hardware product sales in 2016 2015. Revenue from software sales is recognized when the product has been delivered. Revenue from multiple element contracts (hardware, software and engineering) is allocated to the various elements based on fair value. If objective evidence of fair value is not available, revenue from these contracts is deferred until the earlier of when objective evidence of fair value does exist or all elements of the contract have been delivered. Discounts will be applied to each element on a proportionate basis. No portion of the revenue will be recognized if the portion of the revenue allocable to delivered elements is subject to forfeiture, refund or other concession. The Company had no software sales in 2016 2015. Revenue is recognized for digital water marking based on a contracted usage schedule on a monthly billing cycle. Revenue for digital watermarking software usage totaled $- 0 $5,500 2016 2015, Income taxes are accounted for under the liability method. Under this method, deferred tax assets and liabilities are recorded based on the temporary differences between the financial statement and the tax bas is of assets and liabilities and for operating loss carry forwards measured using the enacted tax rates in effect for the year in which the differences are expected to reverse. The Company periodically evaluates the reliability of its net deferred tax assets and records a valuation allowance if, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The foreign assets and liabilities of the Company are translated into U.S. dollars at current exchange rates, and revenue and expenses are translated at average rates of exchange prevailing during the period. The aggregate effect of translation adjustments is immaterial at December 31, 2016 2015. Basic loss per common share (" EPS December 31, 2016 2015 Management does not believe that any other recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying financial statements. |
Note 4 - Major Customers
Note 4 - Major Customers | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 4. major customers: During the year ended December 31, 2016 2015 one 100 January 2015 one |
Note 5 - Prepaid Expenses and O
Note 5 - Prepaid Expenses and Other Current Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Other Assets Disclosure [Text Block] | 5. PREPAID EXPENSES and other current assets: Prepaid expenses and other current assets consist of the following: December 31, 2016 2015 Taxes Receivable – Canadian GST 2,552 6,338 Prepaid Marketing -- Video 59,599 -0- $ 62,151 $ 6,338 |
Note 6 - Accounts Payable and A
Note 6 - Accounts Payable and Accrued Expenses | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 6. ACCOUNTS Accounts payable and accrued expenses consist of the following: December 31, 2016 2015 Accounts payable $ 51,943 $ 4,539 Accrued professional fees 65,217 12,000 Accrued payroll and related tax withholdings 3,307 3,307 $ 120,467 $ 19,846 Accounts payable and accrued expenses - related parties consist of accounts payable for research and development, advances and accrued interest on related party debt. During the year ended December 31, 2015 $4,889 $4,889. |
Note 7 - Notes Payable
Note 7 - Notes Payable | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 7. Notes PAYABLE: None . |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. STOCKHOLDERS' EQUITY: The Company has one 500,000,000 45,572,568 December 31, 2016. On October 15, 2015, 14,405,000 shares to investors at $0.054 On October 15, 2015, 464,000 at $0.07 October 15, 2017. On October 15, 2015, 17,595,000 shares to employees and related parties at $0.054 The Company paid $25,341 ($32,480 $0.07 5,800,000 |
Note 9 - Stock Options and Stoc
Note 9 - Stock Options and Stock Warrants | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 9. STOCK OPTIONS and STOCK WARRANTS: The Company has a stock option plan under which options to purchase shares of common stock may In April 2014, “2014 2014 1,250,000 The Company is listed on the TSX Venture Exchange (" TSX may 2014 Internal Revenue Code of 1986 Code During the years ended December 31, 2016 2015, The following table summarizes information about warrants outstanding at December 31, 2016. Year ended 2016 2015 December 31, Number of Range of Number of Range of Warrants xercise Price Warrants Exercise Price Outstanding at beginning of year 464,000 $0.07 (CND) - N/A Issued - N/A 464,000 $0.07 (CND) Exercised - N/A - N/A Expired - N/A - N/A Outstanding at end of year 464,000 $0.07(CND) 464,000 $0.07(CND) Warrants issued in October 2015 two |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 1 0 income taxes: As of December 31, 2016 $30,782,000, 2034. 100% The components of the net deferred tax assets are as follows: December 31, 201 6 201 5 Net operating loss carryforwards $ 10,466,000 $ 10,312,000 Valuation allowance (10,466,000 ) (10,312,000 ) Net deferred tax assets $ - 0 - $ - 0 - The reconciliation of the effective income tax rate to the federal statutory rate are as follows: Year ended December 31, 20 16 20 15 Federal statutory tax rate 34 % 34 % Valuation allowance on net operating carryforwards (34 ) (34 ) Effective income tax rate - 0 - % - 0 - % As of December 31, 2016, December 31, 2015 December 31, 2013. |
Note 11 - Related Parties
Note 11 - Related Parties | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 11. Related Parties: The Company for the years ended December 31, 2016 2015 $25,770 and $29,846, $240,370 $129,360 December 31, 2016 2015, $150,000 2016. |
Note 12 - Operating Leases
Note 12 - Operating Leases | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | 1 2 OPERATING : T he Company has two third The lease at the Vancouver, Canada location is on a month to month basis with monthly rental payments of $3,250 December 31, 2016 2015 $27,219 $26,070, The lease at the Connecticut, United States location is on a month to month basis with monthly rental payments of $500. December 31, 2016 2015 $ 6,000 each year. |
Note 13 - Quarterly Financial I
Note 13 - Quarterly Financial Information (Unaudited) | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | 1 3 Quarterly Financial InformatioN (Unaudited): The following table summarizes selected quarterly data for the years ended December 31, 2016 2015: First Quarter Second Quarter Third Quarter Fourth Quarter Full Year 20 16: Revenue $ -0- $ -0- $ -0- $ -0- $ -0- Expenses (91,763 ) (166,968 ) (124,803 ) (69,706 ) (453,240 ) Net Gain(Loss) (91,763 ) (166,968 ) (124,803 ) (69,706 ) (453,240 ) Net gain(loss) per common share Basic and $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.01 ) 201 5 : Revenue $ 5,500 $ -0- $ -0- $ -0- $ 5,500 Expenses (30,701 ) (32,249 ) (81,984 ) (247,150 ) (392,084 ) Net Gain(Loss) (25,201 ) (32,249 ) (81,984 ) (247,150 ) (386,584 ) Net gain(loss) per common share Basic and $ (0.00 ) $ (0.00 ) $ (0.01 ) $ (0.02 ) $ (0.02 ) |
Note 14 - Subsequent Event
Note 14 - Subsequent Event | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 1 4 SUBSEQUENT eVENT: None . |
Note 5 - Prepaid Expenses and22
Note 5 - Prepaid Expenses and Other Current Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | December 31, 2016 2015 Taxes Receivable – Canadian GST 2,552 6,338 Prepaid Marketing -- Video 59,599 -0- $ 62,151 $ 6,338 |
Note 6 - Accounts Payable and23
Note 6 - Accounts Payable and Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | December 31, 2016 2015 Accounts payable $ 51,943 $ 4,539 Accrued professional fees 65,217 12,000 Accrued payroll and related tax withholdings 3,307 3,307 $ 120,467 $ 19,846 |
Note 9 - Stock Options and St24
Note 9 - Stock Options and Stock Warrants (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Year ended 2016 2015 December 31, Number of Range of Number of Range of Warrants xercise Price Warrants Exercise Price Outstanding at beginning of year 464,000 $0.07 (CND) - N/A Issued - N/A 464,000 $0.07 (CND) Exercised - N/A - N/A Expired - N/A - N/A Outstanding at end of year 464,000 $0.07(CND) 464,000 $0.07(CND) |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 201 6 201 5 Net operating loss carryforwards $ 10,466,000 $ 10,312,000 Valuation allowance (10,466,000 ) (10,312,000 ) Net deferred tax assets $ - 0 - $ - 0 - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year ended December 31, 20 16 20 15 Federal statutory tax rate 34 % 34 % Valuation allowance on net operating carryforwards (34 ) (34 ) Effective income tax rate - 0 - % - 0 - % |
Note 13 - Quarterly Financial26
Note 13 - Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | First Quarter Second Quarter Third Quarter Fourth Quarter Full Year 20 16: Revenue $ -0- $ -0- $ -0- $ -0- $ -0- Expenses (91,763 ) (166,968 ) (124,803 ) (69,706 ) (453,240 ) Net Gain(Loss) (91,763 ) (166,968 ) (124,803 ) (69,706 ) (453,240 ) Net gain(loss) per common share Basic and $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.00 ) $ (0.01 ) 201 5 : Revenue $ 5,500 $ -0- $ -0- $ -0- $ 5,500 Expenses (30,701 ) (32,249 ) (81,984 ) (247,150 ) (392,084 ) Net Gain(Loss) (25,201 ) (32,249 ) (81,984 ) (247,150 ) (386,584 ) Net gain(loss) per common share Basic and $ (0.00 ) $ (0.00 ) $ (0.01 ) $ (0.02 ) $ (0.02 ) |
Note 3 - Summary of Significa27
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Net Income (Loss) Attributable to Parent | $ (69,706) | $ (124,803) | $ (166,968) | $ (91,763) | $ (247,150) | $ (81,984) | $ (32,249) | $ (25,201) | $ (453,240) | $ (386,584) |
Working Capital (Deficit) | (321,556) | (321,556) | ||||||||
Retained Earnings (Accumulated Deficit) | (40,779,853) | (40,326,613) | (40,779,853) | (40,326,613) | ||||||
Revenues | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 5,500 | $ 0 | $ 5,500 |
Note 4 - Major Customers (Detai
Note 4 - Major Customers (Details Textual) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member] | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Number of Customers | 1 | 1 |
Concentration Risk, Percentage | 100.00% | 100.00% |
Note 5 - Prepaid Expenses and29
Note 5 - Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Taxes Receivable – Canadian GST | $ 2,552 | $ 6,338 |
Prepaid Marketing -- Video | 59,599 | 0 |
$ 62,151 | $ 6,338 |
Note 6 - Accounts Payable and30
Note 6 - Accounts Payable and Accrued Expenses (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Write-off of Accounts Payable | $ 4,889 | |
Gain (Loss) on Settlement of Accounts Payable | $ 4,889 |
Note 6 - Accounts Payable and31
Note 6 - Accounts Payable and Accrued Expenses - Summary of Accounts Payable and Accrued Expenses (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts payable | $ 51,943 | $ 4,539 |
Accrued professional fees | 65,217 | 12,000 |
Accrued payroll and related tax withholdings | 3,307 | 3,307 |
$ 120,467 | $ 19,846 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Details Textual) | Oct. 15, 2015CAD / shares$ / sharesshares | Dec. 31, 2016CAD / sharesshares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Dec. 31, 2015CADCAD / sharesshares | Dec. 31, 2014CAD / shares |
Common Stock, Shares Authorized | 500,000,000 | 500,000,000 | ||||
Common Stock, Shares, Outstanding | 45,572,568 | 45,572,568 | ||||
Stock Issued During Period, Shares, New Issues | 5,800,000 | 5,800,000 | ||||
Class of Warrant or Right, Issued During Period | 464,000 | 464,000 | ||||
Class of Warrant or Right, Issued During Period, Exercise Price | CAD / shares | CAD 0.07 | |||||
Payments of Stock Issuance Costs | $ 25,341 | CAD 32,480 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | CAD / shares | CAD 0.07 | CAD 0.07 | ||||
Brokerage Firm [Member] | ||||||
Class of Warrant or Right, Issued During Period | 464,000 | |||||
Class of Warrant or Right, Issued During Period, Exercise Price | CAD / shares | CAD 0.07 | |||||
Investor [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 14,405,000 | |||||
Shares Issued, Price Per Share | $ / shares | CAD 0.054 | |||||
Employees and Related Parties [Member] | ||||||
Stock Issued During Period, Shares, New Issues | 17,595,000 | |||||
Shares Issued, Price Per Share | $ / shares | CAD 0.054 |
Note 9 - Stock Options and St33
Note 9 - Stock Options and Stock Warrants (Details Textual) - shares | Oct. 15, 2015 | Apr. 30, 2014 |
Class of Warrant or Right, Issued During Period, Term | 2 years | |
The 2014 Plan [Member] | Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,250,000 |
Note 9 - Stock Options and St34
Note 9 - Stock Options and Stock Warrants - Summary of Warrants Outstanding (Details) - CAD / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding at beginning of year (in shares) | 464,000 | |
Outstanding at beginning of year, exercise price (in CAD per share) | CAD 0.07 | |
Issued (in shares) | 464,000 | |
Issued, exercise price (in CAD per share) | CAD 0.07 | |
Exercised (in shares) | ||
Expired (in shares) | ||
Outstanding at end of year (in shares) | 464,000 | 464,000 |
Outstanding at end of year, exercise price (in CAD per share) | CAD 0.07 | CAD 0.07 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) | Dec. 31, 2016USD ($) |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | $ 30,782,000 |
Note 10 - Income Taxes - Net De
Note 10 - Income Taxes - Net Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Net operating loss carryforwards | $ 10,466,000 | $ 10,312,000 |
Valuation allowance | (10,466,000) | (10,312,000) |
Net deferred tax assets | $ 0 | $ 0 |
Note 10 - Income Taxes - Effect
Note 10 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Federal statutory tax rate | 34.00% | 34.00% |
Valuation allowance on net operating carryforwards | (34.00%) | (34.00%) |
Effective income tax rate | 0.00% | 0.00% |
Note 11 - Related Parties (Deta
Note 11 - Related Parties (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Research and Development Expense [Member] | ||
Related Party Transaction, Expenses from Transactions with Related Party | $ 240,370 | $ 129,360 |
Reimbursement [Member] | ||
Related Party Transaction, Amounts of Transaction | 25,770 | $ 29,846 |
Advance from Related Parties [Member] | ||
Related Party Transaction, Amounts of Transaction | $ 150,000 |
Note 12 - Operating Leases (Det
Note 12 - Operating Leases (Details Textual) | 12 Months Ended | ||
Dec. 31, 2016USD ($) | Dec. 31, 2016CAD | Dec. 31, 2015USD ($) | |
Vancouver, CA Operating Lease [Member] | |||
Operating Leases, Monthly Rent Expense | CAD | CAD 3,250 | ||
Operating Leases, Rent Expense, Net | $ 27,219 | $ 26,070 | |
Connecticut, US Operating Lease [Member] | |||
Operating Leases, Monthly Rent Expense | 500 | ||
Operating Leases, Rent Expense, Net | $ 6,000 | $ 6,000 |
Note 13 - Quarterly Financial40
Note 13 - Quarterly Financial Information (Unaudited) - Summary of Quarterly Financial Information (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||||||||
Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | |
Revenue | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 5,500 | $ 0 | $ 5,500 |
Expenses | (69,706) | (124,803) | (166,968) | (91,763) | (247,150) | (81,984) | (32,249) | (30,701) | (453,240) | (375,518) |
Net Gain(Loss) | $ (69,706) | $ (124,803) | $ (166,968) | $ (91,763) | $ (247,150) | $ (81,984) | $ (32,249) | $ (25,201) | $ (453,240) | $ (386,584) |
Basic and Diluted (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0 | $ (0.02) | $ (0.01) | $ 0 | $ 0 | $ (0.01) | $ (0.02) |