Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2017 | May 12, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | CATASYS, INC. | |
Entity Central Index Key | 1,136,174 | |
Trading Symbol | cats | |
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) | 15,874,678 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash and cash equivalents | $ 291 | $ 851 |
Receivables, net of allowance for doubtful accounts of $149 and $0, respectively | 1,263 | 1,052 |
Prepaids and other current assets | 596 | 420 |
Total current assets | 2,150 | 2,323 |
Long-term assets | ||
Property and equipment, net of accumulated depreciation of $1,660 and $1,620, respectively | 419 | 410 |
Deposits and other assets | 371 | 371 |
Total Assets | 2,940 | 3,104 |
Current liabilities | ||
Accounts payable | 1,221 | 870 |
Accrued compensation and benefits | 2,020 | 2,089 |
Deferred revenue | 1,943 | 1,525 |
Other accrued liabilities | 582 | 575 |
Short term debt, related party, net of discount $0 and $216, respectively | 10,046 | 9,796 |
Derivative liability | 18,718 | 8,122 |
Total current liabilities | 34,530 | 22,977 |
Long-term liabilities | ||
Deferred rent and other long-term liabilities | 95 | 117 |
Capital leases | 22 | 31 |
Warrant Liabilities, Noncurrent | 12,893 | 5,307 |
Total Liabilities | 47,540 | 28,432 |
Stockholders' deficit | ||
Preferred stock, $0.0001 par value; 50,000,000 shares authorized; no shares issued and outstanding | 0 | 0 |
Common stock, $0.0001 par value; 500,000,000 shares authorized; 9,443,749 and 9,214,743 shares issued and outstanding at March 31, 2017 and December 31, 2016, respectively | 6 | 6 |
Additional paid-in-capital | 256,881 | 254,385 |
Accumulated deficit | (301,487) | (279,719) |
Total Stockholders' Deficit | (44,600) | (25,328) |
Total Liabilities and Stockholders' Deficit | $ 2,940 | $ 3,104 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Receivables, allowance for doubtful accounts | $ 149 | $ 0 |
Property and equipment, accumulated dereciation | 1,660 | 1,620 |
Short term debt, net of discount | $ 0 | $ 216 |
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 500,000,000 | 500,000,000 |
Common stock, shares issued (in shares) | 9,443,749 | 9,214,743 |
Common stock, shares outstanding (in shares) | 9,443,749 | 9,214,743 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Revenues: | ||
Healthcare services revenues | $ 1,822,000 | $ 728,000 |
Operating expenses | ||
Cost of healthcare services | 1,365,000 | 966,000 |
General and administrative | 2,629,000 | 2,187,000 |
Depreciation and amortization | 39,000 | 32,000 |
Total operating expenses | 4,033,000 | 3,185,000 |
Loss from operations | (2,211,000) | (2,457,000) |
Other income | (14,000) | (65,000) |
Interest expense | (2,867,000) | (333,000) |
Loss on conversion of note | (926,000) | |
Change in fair value of warrant liability | (5,181,000) | (228,000) |
Change in fair value of derivative liability | (10,596,000) | (1,337,000) |
Loss from operations before provision for income taxes | (21,767,000) | (4,290,000) |
Provision for income taxes | 0 | 2,000 |
Net Loss | $ (21,768,000) | $ (4,292,000) |
Basic and diluted net loss from operations per share: (in dollars per share) | $ (2.35) | $ (0.47) |
Basic and diluted weighted number of shares outstanding (in shares) | 9,246 | 9,168 |
Condensed Consolidated Stateme5
Condensed Consolidated Statement of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Operating activities: | ||
Net loss | $ (21,768) | $ (4,292) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 39 | 32 |
Issuance costs included in interest expense | 2,622 | 216 |
Provision for doubtful accounts | 149 | 7 |
Deferred rent | (20) | (23) |
Share-based compensation expense | 127 | 174 |
Fair value adjustment on derivative liability | 10,596 | 1,337 |
Fair value adjustment on warrant liability | 5,181 | 228 |
Shares issued for services | 117 | |
Loss on conversion of note | 926 | |
Changes in current assets and liabilities: | ||
Receivables | (360) | (27) |
Prepaids and other current assets | (176) | 141 |
Deferred revenue | 418 | 593 |
Accounts payable and other accrued liabilities | 534 | 96 |
Net cash used in operating activities | (1,615) | (1,518) |
Investing activities: | ||
Purchases of property and equipment | (49) | (10) |
Deposits and other assets | 16 | |
Net cash provided by/(used in) investing activities | (49) | 6 |
Financing activities: | ||
Proceeds from bridge loan | 1,115 | 900 |
Capital lease obligations | (11) | (42) |
Net cash provided by financing activities | 1,104 | 858 |
Net decrease in cash and cash equivalents | (560) | (654) |
Cash and cash equivalents at beginning of period | 851 | 916 |
Cash and cash equivalents at end of period | 291 | 262 |
Supplemental disclosure of cash paid | ||
Income taxes | 39 | 26 |
Supplemental disclosure of non-cash activity | ||
Common stock issued for investor relations services | $ 117 |
Note 1 - Basis of Consolidation
Note 1 - Basis of Consolidation, Presentation and Going Concern | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1. The accompanying unaudited condensed consolidated financial statements for Catasys, Inc. and its subsidiaries have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) and instructions to Form 10 may 10 December 31, 2016, December 31, 2016, Our financial statements have been prepared on the basis that we will continue as a going concern. At March 31, 2017, $291,000 $32.4 three March 31, 2017, $1.6 twelve March 31, 2017, April 2017, $16.5 twelve |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 2. Revenue Recognition Our Catasys contracts are generally designed to provide cash fees to us on a monthly basis or an upfront case rate based on enrolled members. To the extent our contracts may may twelve Cost of Services Cost of healthcare services consists primarily of salaries related to our care coaches, outreach specialists and other staff directly involved in member care, healthcare provider claims payments, and fees charged by our third third Trak TM Cash Equivalents and Concentration of Credit Risk We consider all highly liquid investments with an original maturity of three may March 31, 2017, $115,038. For the three March 31, 2017, three 94% two 79% Basic and Diluted Income (Loss) per Share Basic income (loss) per share is computed by dividing the net income (loss) to common stockholders for the period by the weighted average number of common stock outstanding during the period. Diluted income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common stock and dilutive common equivalent shares outstanding during the period. Common equivalent shares, consisting of 1,928,431 620,119 three March 31, 2017 2016, Share-Based Compensation Our 2017 “2017 2,333,334 422A ten three five March 31, 2017, 243,853 50,774 Total share-based compensation expense on a consolidated basis was $127,000 $174,000 three March 31, 2017 2016, Stock Options – Employees and Directors We measure and recognize compensation expense for all share-based payment awards made to employees and directors based on estimated fair values on the date of grant. We estimate the fair value of share-based payment awards using the Black-Scholes option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the consolidated statements of operations. Share-based compensation expense recognized for employees and directors for the three March 31, 2017 2016 $127,000 $174,000, For share-based awards issued to employees and directors, share-based compensation is attributed to expense using the straight-line single option method. Share-based compensation expense recognized in our consolidated statements of operations for the three March 31, 2017 2016, There were no three March 31, 2017 2016, 2017 three March 31, 2017 Weighted Avg. Shares Exercise Price Balance December 31, 2016 244,000 $ 39.06 Granted - $ - Cancelled - $ - Balance March 31, 2017 244,000 $ 38.90 The expected volatility assumptions have been based on the historical and expected volatility of our stock, measured over a period generally commensurate with the expected term. The weighted average expected option term for the three March 31, 2017 2016, 107 110), As of March 31, 2017, $191,000 1.52 Stock Options and Warrants – Non-employees We account for the issuance of options and warrants for services from non-employees by estimating the fair value of warrants issued using the Black-Scholes pricing model. This model’s calculations include the option or warrant exercise price, the market price of shares on grant date, the weighted average risk-free interest rate, the expected life of the option or warrant, and the expected volatility of our stock and the expected dividends. For options and warrants issued as compensation to non-employees for services that are fully vested and non-forfeitable at the time of issuance, the estimated value is recorded in equity and expensed when the services are performed and benefit is received. For unvested shares, the change in fair value during the period is recognized in expense using the graded vesting method. There were no three March 31, 2017 2016, no three March 31, 2017 2016, Common Stock There were 14,492 0 three March 31, 2017 2016, There were 214,514 a Company owned by David E. Smith, a member of our board of directors for the conversion of their December 2016 Income Taxes We have recorded a full valuation allowance against our otherwise recognizable deferred tax assets as of March 31, 2017. not March 31, 2017. 740, We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where there is greater than 50% may 50% March 31, 2017 Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value in the condensed consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure fair value. The fair value hierarchy distinguishes between (1) (2) three three Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs, other than quoted prices included in Level I, that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The following table summarizes fair value measurements by level at March 31, 2017 Balance at March 31, 2017 (Amounts in thousands) Level I Level II Level III Total Certificates of deposit 106 - - 106 Total assets 106 - - 106 Warrant liabilities - - 12,893 12,893 Derivative Liability 18,718 18,718 Total liabilities - - 31,611 31,611 Carrying amounts reported in the condensed consolidated balance sheets of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their relatively short maturity. The fair value of borrowings is not considered to be significantly different from its carrying amount because stated rates for such debt reflect current market rates and conditions. Financial instruments classified as Level III in the fair value hierarchy as of March 31, 2017, Warrant Liabilities The following table summarizes our fair value measurements using significant Level III inputs, and changes therein, for the three March 31, 2017: Level III Level III Warrant Derivative (Dollars in thousands) Liabilities (Dollars in thousands) Liabilities Balance as of December 31, 2016 $ 5,307 Balance as of December 31, 2016 $ 8,122 Issuance of warrants 2,405 Issuance of warrants - Change in fair value 5,181 Change in fair value 10,596 Balance as of March 31, 2017 $ 12,893 Balance as of March 31, 2017 $ 18,718 Issuance (exercise) of warrants, net - Issuance (exercise) of warrants, net - Change in fair value - Change in fair value - Balance as of June 30, 2016 $ 12,893 Balance as of June 30, 2016 $ 18,718 Issuance (exercise) of warrants, net - Issuance (exercise) of warrants, net - Expiration of warrants - Expiration of warrants - Change in fair value - Change in fair value - Balance as of September 30, 2016 $ 12,893 Balance as of September 30, 2016 $ 18,718 Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Additions and improvements to property and equipment are capitalized at cost. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, which range from two seven five seven Warrant Liabilities In January 2017, one (100%) $1,300,000 8% March 31, 2017 “January 2017 five one (100%) January 2017 $5.10 “January 2017 March 31, 2017, March 31, 2017 $1,115,000. December 2016 25% 137,883 January 2017 April 30, 2017 first. The January 2017 January 2017 January 2017 January 2017 January 2017 In connection with the Subscription Agreement described above, the number of Shamus warrants issued as part of the December 2016 75% 100% 58,824 The warrant liabilities were calculated using the Black-Scholes model based upon the following assumptions: March 31, 201 7 Expected volatility 93.56% Risk-free interest rate 1.27 - 1.93% Weighted average expected lives in years 2 - 5 Expected dividend 0% We have issued warrants to purchase common stock in February 2012, April 2015, July 2015, August 2016, December 2016, January 2017, February 2017 March 2017. For the three March 31, 2017 2016, $5.2 $228,000, Derivative Liability In July 2015, $3.55 12% January 18, 2016 “July 2015 July 2015 $11.40 may October 2015, July 2015 July 2015 January 18, 2016 January 18, 2017. July 2015 $1.80 July 2015 12% July 2015 April 30, 2017 first. July 2015 March 31, 201 7 Expected volatility 93.56 % Risk-free interest rate 0.74 % Weighted average expected lives in years 0.08 Expected dividend 0 % For the three March 31, 2017 2016, $10.6 $1.3 Recently Issued or Newly Adopted Accounting Standards In April 2016, 2016 10, Revenue from Contracts with Customers (Topic 606) 2014 09, 2014 09, December 15, 2017. In March 2016, 2016 09, Compensation — Stock Compensation (Topic 718): 2016 09”), December 15, 2016, 2016 09 In February 2015, Consolidation (Topic 810): 2015 02”). 2015 02 2015 02 December 15, 2015, 2015 02 In August 2014, 2014 15, Presentation of Financial Statements—Going Concern (Subtopic 205 40): 2014 15”) . 2014 15 may one one 2014 15 December 15, 2016. 2014 15 |
Note 3 - Related Party Disclosu
Note 3 - Related Party Disclosure | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 3. In January 2017, $1,300,000 January 2017 January 2017 March 31, 2017, March 31, 2017 $1,115,000. December 2016 25% 137,883 In addition, we have accounts payable outstanding with Mr. Peizer for travel and expenses of $204,000 March 31, 2017 $1.1 March 31, 2017. In January 2017, December 2016 75% 100% 14,706 In March 2017, $1.3 December 2016 214,514 |
Note 4 - Short-term Debt
Note 4 - Short-term Debt | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 4. In January 2017, $1,300,000 8% March 31, 2017 “January 2017 five one (100%) January 2017 $5.10 “January 2017 March 31, 2017, March 31, 2017 $1,115,000. December 2016 25% 137,883 January 2017 April 30, 2017 first. |
Note 5 - Restatement of Financi
Note 5 - Restatement of Financial Statements | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | Note 5. The financial statements have been retroactively restated to reflect the 1 6 April 25, 2017. |
Note 6 - Subsequent Event
Note 6 - Subsequent Event | 3 Months Ended |
Mar. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 6. Amendments to Outstanding Warrants and Extension of Existing Debentures In March 2017, April 17, 2015 July 30, 2015 $12.8 March 31, 2017. April 28, 2017. .2 11,049 Additionally, in March 2017, $10 April 28, 2017. Reverse Stock Split On April 21, 2017, 1 6 six one 1 6 5:00 April 24, 2017, April 25, 2017. 149049 504. All stock options and warrants to purchase common stock outstanding and our Common Stock reserved for issuance under the Company's equity incentive plans immediately prior to the reverse stock split were appropriately adjusted by dividing the number of affected shares of common stock by six six Public Offering On April 25, 2017, 3,125,000 $4.80 $4.464 April 28, 2017. $14.8 Pursuant to the underwriting agreement, we issued to the underwriter a warrant for the purchase of an aggregate of 156,250 $100. 125% $6.00 NASDAQ Uplisting In connection with the public offering, our Common Stock began trading on the NASDAQ Capital Market under the symbol “CATS” beginning on April 26, 2017. Exercise of Over-Allotment Option Pursuant to the underwriting with Joseph Gunnar & Co., LLC dated April 25, 2017, 45 468,750 May 2, 2017, 303,750 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2017 | |
Accounting Policies [Abstract] | |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Our Catasys contracts are generally designed to provide cash fees to us on a monthly basis or an upfront case rate based on enrolled members. To the extent our contracts may may twelve |
Cost of Sales, Policy [Policy Text Block] | Cost of Services Cost of healthcare services consists primarily of salaries related to our care coaches, outreach specialists and other staff directly involved in member care, healthcare provider claims payments, and fees charged by our third third Trak TM |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents and Concentration of Credit Risk We consider all highly liquid investments with an original maturity of three may March 31, 2017, $115,038. For the three March 31, 2017, three 94% two 79% |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Income (Loss) per Share Basic income (loss) per share is computed by dividing the net income (loss) to common stockholders for the period by the weighted average number of common stock outstanding during the period. Diluted income (loss) per share is computed by dividing the net income (loss) for the period by the weighted average number of common stock and dilutive common equivalent shares outstanding during the period. Common equivalent shares, consisting of 1,928,431 620,119 three March 31, 2017 2016, |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-Based Compensation Our 2017 “2017 2,333,334 422A ten three five March 31, 2017, 243,853 50,774 Total share-based compensation expense on a consolidated basis was $127,000 $174,000 three March 31, 2017 2016, Stock Options – Employees and Directors We measure and recognize compensation expense for all share-based payment awards made to employees and directors based on estimated fair values on the date of grant. We estimate the fair value of share-based payment awards using the Black-Scholes option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite service periods in the consolidated statements of operations. Share-based compensation expense recognized for employees and directors for the three March 31, 2017 2016 $127,000 $174,000, For share-based awards issued to employees and directors, share-based compensation is attributed to expense using the straight-line single option method. Share-based compensation expense recognized in our consolidated statements of operations for the three March 31, 2017 2016, There were no options granted to employees and directors during the three March 31, 2017 2016, 2017 three March 31, 2017 Weighted Avg. Shares Exercise Price Balance December 31, 2016 244,000 $ 39.06 Granted - $ - Cancelled - $ - Balance March 31, 2017 244,000 $ 38.90 The expected volatility assumptions have been based on the historical and expected volatility of our stock, measured over a period generally commensurate with the expected term. The weighted average expected option term for the three March 31, 2017 2016, 107 110), As of March 31, 2017, $191,000 1.52 Stock Options and Warrants – Non-employees We account for the issuance of options and warrants for services from non-employees by estimating the fair value of warrants issued using the Black-Scholes pricing model. This model’s calculations include the option or warrant exercise price, the market price of shares on grant date, the weighted average risk-free interest rate, the expected life of the option or warrant, and the expected volatility of our stock and the expected dividends. For options and warrants issued as compensation to non-employees for services that are fully vested and non-forfeitable at the time of issuance, the estimated value is recorded in equity and expensed when the services are performed and benefit is received. For unvested shares, the change in fair value during the period is recognized in expense using the graded vesting method. There were no options issued to non-employees for the three March 31, 2017 2016, three March 31, 2017 2016, |
Stockholders' Equity, Policy [Policy Text Block] | Common Stock There were 14,492 0 three March 31, 2017 2016, There were 214,514 a Company owned by David E. Smith, a member of our board of directors for the conversion of their December 2016 |
Income Tax, Policy [Policy Text Block] | Income Taxes We have recorded a full valuation allowance against our otherwise recognizable deferred tax assets as of March 31, 2017. March 31, 2017. 740, We assess our income tax positions and record tax benefits for all years subject to examination based upon our evaluation of the facts, circumstances and information available at the reporting date. For those tax positions where there is greater than 50% may 50% March 31, 2017 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Assets and liabilities recorded at fair value in the condensed consolidated balance sheets are categorized based upon the level of judgment associated with the inputs used to measure fair value. The fair value hierarchy distinguishes between (1) (2) three three Level Input: Input Definition: Level I Inputs are unadjusted, quoted prices for identical assets or liabilities in active markets at the measurement date. Level II Inputs, other than quoted prices included in Level I, that are observable for the asset or liability through corroboration with market data at the measurement date. Level III Unobservable inputs that reflect management’s best estimate of what market participants would use in pricing the asset or liability at the measurement date. The following table summarizes fair value measurements by level at March 31, 2017 Balance at March 31, 2017 (Amounts in thousands) Level I Level II Level III Total Certificates of deposit 106 - - 106 Total assets 106 - - 106 Warrant liabilities - - 12,893 12,893 Derivative Liability 18,718 18,718 Total liabilities - - 31,611 31,611 Carrying amounts reported in the condensed consolidated balance sheets of cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value due to their relatively short maturity. The fair value of borrowings is not considered to be significantly different from its carrying amount because stated rates for such debt reflect current market rates and conditions. Financial instruments classified as Level III in the fair value hierarchy as of March 31, 2017, Warrant Liabilities The following table summarizes our fair value measurements using significant Level III inputs, and changes therein, for the three March 31, 2017: Level III Level III Warrant Derivative (Dollars in thousands) Liabilities (Dollars in thousands) Liabilities Balance as of December 31, 2016 $ 5,307 Balance as of December 31, 2016 $ 8,122 Issuance of warrants 2,405 Issuance of warrants - Change in fair value 5,181 Change in fair value 10,596 Balance as of March 31, 2017 $ 12,893 Balance as of March 31, 2017 $ 18,718 Issuance (exercise) of warrants, net - Issuance (exercise) of warrants, net - Change in fair value - Change in fair value - Balance as of June 30, 2016 $ 12,893 Balance as of June 30, 2016 $ 18,718 Issuance (exercise) of warrants, net - Issuance (exercise) of warrants, net - Expiration of warrants - Expiration of warrants - Change in fair value - Change in fair value - Balance as of September 30, 2016 $ 12,893 Balance as of September 30, 2016 $ 18,718 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost, less accumulated depreciation. Additions and improvements to property and equipment are capitalized at cost. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets, which range from two seven five seven |
Warrant Liabilities, Policy [Policy Text Block] | Warrant Liabilities In January 2017, one (100%) $1,300,000 8% March 31, 2017 “January 2017 five one (100%) January 2017 $5.10 “January 2017 March 31, 2017, March 31, 2017 $1,115,000. December 2016 25% 137,883 January 2017 April 30, 2017 first. The January 2017 January 2017 January 2017 January 2017 January 2017 In connection with the Subscription Agreement described above, the number of Shamus warrants issued as part of the December 2016 75% 100% 58,824 The warrant liabilities were calculated using the Black-Scholes model based upon the following assumptions: March 31, 201 7 Expected volatility 93.56% Risk-free interest rate 1.27 - 1.93% Weighted average expected lives in years 2 - 5 Expected dividend 0% We have issued warrants to purchase common stock in February 2012, April 2015, July 2015, August 2016, December 2016, January 2017, February 2017 March 2017. For the three March 31, 2017 2016, $5.2 $228,000, |
Derivatives, Policy [Policy Text Block] | Derivative Liability In July 2015, $3.55 12% January 18, 2016 “July 2015 July 2015 $11.40 may October 2015, July 2015 July 2015 January 18, 2016 January 18, 2017. July 2015 $1.80 July 2015 12% July 2015 April 30, 2017 first. July 2015 March 31, 201 7 Expected volatility 93.56 % Risk-free interest rate 0.74 % Weighted average expected lives in years 0.08 Expected dividend 0 % For the three March 31, 2017 2016, $10.6 $1.3 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued or Newly Adopted Accounting Standards In April 2016, 2016 10, Revenue from Contracts with Customers (Topic 606) 2014 09, 2014 09, December 15, 2017. In March 2016, 2016 09, Compensation — Stock Compensation (Topic 718): 2016 09”), December 15, 2016, 2016 09 In February 2015, Consolidation (Topic 810): 2015 02”). 2015 02 2015 02 December 15, 2015, 2015 02 In August 2014, 2014 15, Presentation of Financial Statements—Going Concern (Subtopic 205 40): 2014 15”) . 2014 15 may one one 2014 15 December 15, 2016. 2014 15 |
Note 2 - Summary of Significa13
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2017 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Avg. Shares Exercise Price Balance December 31, 2016 244,000 $ 39.06 Granted - $ - Cancelled - $ - Balance March 31, 2017 244,000 $ 38.90 |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Balance at March 31, 2017 (Amounts in thousands) Level I Level II Level III Total Certificates of deposit 106 - - 106 Total assets 106 - - 106 Warrant liabilities - - 12,893 12,893 Derivative Liability 18,718 18,718 Total liabilities - - 31,611 31,611 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Level III Level III Warrant Derivative (Dollars in thousands) Liabilities (Dollars in thousands) Liabilities Balance as of December 31, 2016 $ 5,307 Balance as of December 31, 2016 $ 8,122 Issuance of warrants 2,405 Issuance of warrants - Change in fair value 5,181 Change in fair value 10,596 Balance as of March 31, 2017 $ 12,893 Balance as of March 31, 2017 $ 18,718 Issuance (exercise) of warrants, net - Issuance (exercise) of warrants, net - Change in fair value - Change in fair value - Balance as of June 30, 2016 $ 12,893 Balance as of June 30, 2016 $ 18,718 Issuance (exercise) of warrants, net - Issuance (exercise) of warrants, net - Expiration of warrants - Expiration of warrants - Change in fair value - Change in fair value - Balance as of September 30, 2016 $ 12,893 Balance as of September 30, 2016 $ 18,718 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | March 31, 201 7 Expected volatility 93.56% Risk-free interest rate 1.27 - 1.93% Weighted average expected lives in years 2 - 5 Expected dividend 0% March 31, 201 7 Expected volatility 93.56 % Risk-free interest rate 0.74 % Weighted average expected lives in years 0.08 Expected dividend 0 % |
Note 1 - Basis of Consolidati14
Note 1 - Basis of Consolidation, Presentation and Going Concern (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | |
Apr. 30, 2017 | Mar. 31, 2017 | Mar. 31, 2016 | |
Cash Equivalents, at Carrying Value | $ 291,000 | ||
Working Capital Deficit | 32,400,000 | ||
Net Cash Provided by (Used in) Operating Activities, Continuing Operations | $ (1,615,000) | $ (1,518,000) | |
Subsequent Event [Member] | |||
Proceeds from Issuance of Common Stock | $ 16,500,000 |
Note 2 - Summary of Significa15
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 1 Months Ended | 3 Months Ended | ||||
Jan. 31, 2017USD ($)$ / sharesshares | Mar. 31, 2017USD ($)shares | Mar. 31, 2016USD ($)shares | Dec. 31, 2016 | Oct. 31, 2015$ / shares | Jul. 31, 2015USD ($)$ / shares | |
Cash, Uninsured Amount | $ 115,038 | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | shares | 1,928,431 | 620,119 | ||||
Share-based Compensation | $ 127,000 | $ 174,000 | ||||
Derivative, Gain (Loss) on Derivative, Net | (5,200,000) | (228,000) | ||||
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Inputs Reconciliation, Gain (Loss) Included in Earnings | $ 10,600,000 | $ 1,300,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 0 | 0 | ||||
Income Tax Expense (Benefit) | $ 0 | $ 2,000 | ||||
Acuitas [Member] | July 2015 Convertible Debenture [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||
Debt Instrument, Face Amount | $ 3,550,000 | |||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 1.80 | $ 11.40 | ||||
Acuitas [Member] | January 2017 Warrants [Member] | ||||||
Warrant Term | 5 years | |||||
Class of Warrant or Right, Percent of Securities Called by Warrants or Rights Upon Conversion | 100.00% | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 5.10 | |||||
Acuitas [Member] | December 2016 Warrants [Member] | ||||||
Class of Warrant or Right, Percent of Securities Called by Warrants or Rights Upon Conversion | 25.00% | |||||
Class of Warrant or Right, Additional Percent of Securities Called by Warrants or Rights Upon Conversion | 25.00% | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 137,883 | |||||
Acuitas [Member] | January 2017 Convertible Debenture [Member] | ||||||
Proceeds from Issuance of Debt | $ 1,300,000 | $ 1,115,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||
Conversion Of December 2016 Convertible Debentures Into Common Stock [Member] | Shamus [Member] | ||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 214,514 | |||||
Common Stock Issued for Investor Relation Services [Member] | ||||||
Stock Issued During Period, Shares, Issued for Services | shares | 14,492 | 0 | ||||
Shamus Warrants [Member] | Shamus [Member] | ||||||
Class of Warrant or Right, Percent of Securities Called by Warrants or Rights Upon Conversion | 75.00% | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 58,824 | |||||
Employees and Directors [Member] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 191,000 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 189 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 0 | 0 | ||||
Minimum [Member] | Furniture and Equipment [Member] | ||||||
Property, Plant and Equipment, Useful Life | 2 years | |||||
Minimum [Member] | Leasehold Improvements [Member] | ||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||
Maximum [Member] | Furniture and Equipment [Member] | ||||||
Property, Plant and Equipment, Useful Life | 7 years | |||||
Maximum [Member] | Leasehold Improvements [Member] | ||||||
Property, Plant and Equipment, Useful Life | 7 years | |||||
Twenty Seventeen Stock Incentive Plan [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized | shares | 2,333,334 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | shares | 243,853 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | shares | 50,774 | |||||
Share-based Compensation | $ 127,000 | $ 174,000 | ||||
Twenty Seventeen Stock Incentive Plan [Member] | Employees and Directors [Member] | ||||||
Share-based Compensation | 127,000 | 174,000 | ||||
Twenty Seventeen Stock Incentive Plan [Member] | Nonemployees [Member] | ||||||
Share-based Compensation | $ 0 | $ 0 | ||||
Twenty Seventeen Stock Incentive Plan [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Twenty Seventeen Stock Incentive Plan [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 5 years | |||||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Three Customers [Member] | ||||||
Concentration Risk, Number of Customers | 3 | |||||
Concentration Risk, Percentage | 94.00% | |||||
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customers [Member] | ||||||
Concentration Risk, Number of Customers | 2 | |||||
Concentration Risk, Percentage | 79.00% |
Note 2 - Summary of Significa16
Note 2 - Summary of Significant Accounting Policies - Employee and Director Stock Option Activity (Details) - $ / shares | 3 Months Ended | |
Mar. 31, 2017 | Mar. 31, 2016 | |
Granted (in shares) | 0 | 0 |
Employees and Directors [Member] | ||
Balance (in shares) | 244,000 | |
Balance (in dollars per share) | $ 39.06 | |
Granted (in shares) | 0 | 0 |
Granted (in dollars per share) | ||
Cancelled (in shares) | ||
Cancelled (in dollars per share) | ||
Balance (in shares) | 244,000 | |
Balance (in dollars per share) | $ 38.90 |
Note 2 - Summary of Significa17
Note 2 - Summary of Significant Accounting Policies - Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - USD ($) $ in Thousands | Mar. 31, 2017 | Dec. 31, 2016 |
Certificates of deposit | $ 106 | |
Total assets | 106 | |
Warrant liabilities | 12,893 | $ 5,307 |
Derivative Liability | 18,718 | |
Total liabilities | 31,611 | |
Fair Value, Inputs, Level 1 [Member] | ||
Certificates of deposit | 106 | |
Total assets | 106 | |
Warrant liabilities | ||
Derivative Liability | ||
Total liabilities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Certificates of deposit | ||
Total assets | ||
Warrant liabilities | ||
Derivative Liability | ||
Total liabilities | ||
Fair Value, Inputs, Level 3 [Member] | ||
Certificates of deposit | ||
Total assets | ||
Warrant liabilities | 12,893 | |
Derivative Liability | 18,718 | |
Total liabilities | $ 31,611 |
Note 2 - Summary of Significa18
Note 2 - Summary of Significant Accounting Policies - Fair Value Measurements Using Significant Level III Inputs (Details) - Fair Value, Inputs, Level 3 [Member] - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2017 | Sep. 30, 2016 | |
Warrants [Member] | ||
Balance | $ 5,307 | $ 12,893 |
Issuance (exercise) of warrants, net | 2,405 | |
Change in fair value | 5,181 | |
Balance | 12,893 | 12,893 |
Derivative Financial Instruments, Liabilities [Member] | ||
Balance | 8,122 | 18,718 |
Issuance (exercise) of warrants, net | ||
Change in fair value | 10,596 | |
Balance | $ 18,718 | $ 18,718 |
Note 2 - Summary of Significa19
Note 2 - Summary of Significant Accounting Policies - Fair Value Assumptions (Details) | 3 Months Ended |
Mar. 31, 2017 | |
Derivative Liability [Member] | |
Expected volatility | 93.56% |
Risk-free interest rate | 0.74% |
Weighted average expected lives in years (Year) | 29 days |
Expected dividend | 0.00% |
Warrant Liability [Member] | |
Expected volatility | 93.56% |
Expected dividend | 0.00% |
Warrant Liability [Member] | Minimum [Member] | |
Risk-free interest rate | 1.27% |
Weighted average expected lives in years (Year) | 2 years |
Warrant Liability [Member] | Maximum [Member] | |
Risk-free interest rate | 1.93% |
Weighted average expected lives in years (Year) | 5 years |
Note 3 - Related Party Disclo20
Note 3 - Related Party Disclosure (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | |
Jan. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
Due to Related Parties, Current | $ 10,046,000 | $ 9,796,000 | |
Chairman and Chief Executive Officer [Member] | |||
Due to Related Parties, Current | 204,000 | ||
Chairman and Chief Executive Officer [Member] | Deferred Salaries [Member] | |||
Due to Related Parties, Current | 1,100,000 | ||
Shamus [Member] | Conversion Of December 2016 Convertible Debentures Into Common Stock [Member] | |||
Debt Conversion, Original Debt, Amount | $ 1,300,000 | ||
Debt Conversion, Converted Instrument, Shares Issued | 214,514 | ||
Shamus Warrants [Member] | Shamus [Member] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 14,706 | ||
Class of Warrant or Right, Percent of Securities Called by Warrants or Rights Upon Conversion | 100.00% | 75.00% | |
Acuitas [Member] | December 2016 Warrants [Member] | |||
Class of Warrant or Right, Additional Percent of Securities Called by Warrants or Rights Upon Conversion | 25.00% | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 137,883 | ||
Acuitas [Member] | January 2017 Convertible Debenture [Member] | |||
Proceeds from Issuance of Debt | $ 1,300,000 | $ 1,115,000 |
Note 4 - Short-term Debt (Detai
Note 4 - Short-term Debt (Details Textual) - Acuitas [Member] - USD ($) | 1 Months Ended | 3 Months Ended | |
Jan. 31, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | |
January 2017 Warrants [Member] | |||
Warrant Term | 5 years | ||
Class of Warrant or Right, Percent of Securities Called by Warrants or Rights Upon Conversion | 100.00% | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 5.10 | ||
December 2016 Warrants [Member] | |||
Class of Warrant or Right, Percent of Securities Called by Warrants or Rights Upon Conversion | 25.00% | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 137,883 | ||
January 2017 Convertible Debenture [Member] | |||
Proceeds from Issuance of Debt | $ 1,300,000 | $ 1,115,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 8.00% |
Note 5 - Restatement of Finan22
Note 5 - Restatement of Financial Statements (Details Textual) | Apr. 25, 2017 |
Subsequent Event [Member] | Reverse Stock Split [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 6 |
Note 6 - Subsequent Event (Deta
Note 6 - Subsequent Event (Details Textual) | Apr. 25, 2017USD ($)$ / sharesshares | Mar. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($) |
Warrant Liabilities, Noncurrent | $ | $ 12,893,000 | $ 5,307,000 | |
Subsequent Event [Member] | Public Offering [Member] | Joseph Gunner & Co. LLC [Member] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 156,250 | ||
Stock Issued During Period, Shares, New Issues | 3,125,000 | ||
Shares Issued, Price Per Share | $ / shares | $ 4.80 | ||
Shares Issued, Price Per Share, Net | $ / shares | $ 4.464 | ||
Net Proceeds from Issuance or Sale of Equity | $ | $ 14,800,000 | ||
Class of Warrant or Right, Value of Securities Called | $ | $ 100 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights, Percent of Share Price | 125.00% | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 6 | ||
Subsequent Event [Member] | Over-Allotment Option [Member] | Joseph Gunner & Co. LLC [Member] | |||
Stock Issued During Period, Shares, New Issues | 303,750 | ||
Additional Shares Available for Purchase | 468,750 | ||
Subsequent Event [Member] | Reverse Stock Split [Member] | |||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 6 | ||
Convertible Debentures [Member] | |||
Debt Instrument, Extended Maturity | $ | $ 10,000,000 | ||
Amended Warrants [Member] | |||
Class of Warrant or Right, Number of Additional Securities Called by Each Warrant or Right | $ / shares | $ 0.20 | ||
Warrants not Subject to Amendment [Member] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 11,049 |