Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 30, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | TOWERSTREAM CORP | ||
Entity Central Index Key | 1,349,437 | ||
Trading Symbol | twer | ||
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) | 20,777,263 | ||
Entity Public Float | $ 13,520,394 | ||
Document Type | 10-K/A | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | true | ||
Amendment Description | This Annual Report on Form 10-K/A is being filed as Amendment No. 2 to our Annual Report on Form 10-K which was originally filed on March 31, 2017. On June 22, 2017, the Chairman of the Board of Directors, Chairman of the Audit Committee, Chief Executive Officer and Chief Financial Officer of Towerstream Corporation (the “Company”) determined that the Company’s financial statements which were included in its annual report for the year ended December 31, 2016 should no longer be relied upon as a result of a non-financial covenant and the timing of the written waiver received by the Company. On October 16, 2014, Melody Business Finance, LLC, as administrative agent for the certain lenders therein (collectively, the “Lender”), entered into a loan agreement with the Company (the “Loan Agreement”). On June 14, 2017, the Lender delivered to the Company a “Waiver to Loan Agreement” (the “Waiver”) waiving obligations of the Company to provide an audited report of its auditors covering the December 31, 2016 audited financial statements “without a ‘going concern’ or like qualification or exception and without any qualification or exception as to the scope of such audit” as provided in Section 6.1(a)(i) of the Loan Agreement. The effective date of the waiver is March 31, 2017. Accordingly, the Waiver is effective retroactive to the date on which the Company’s auditors’ report concerning the December 31, 2016 financial statements which included a “going concern” explanatory paragraph was issued. The Company has restated its previously reported balance sheet by reclassifying long term debt with a net carrying value of $31,487,253 as current liabilities as of December 31, 2016. The Lender has not provided the Company any notice of Default or any Event of Default, as such terms are defined in the Loan Agreement, and has waived for all purposes the December 31, 2016 going concern covenant requirement. There were no other changes to the Company’s previously reported assets, total liabilities, net loss or loss per share of common stock. This Amendment to the Form 10-K for the period ended December 31, 2016 contains currently dated certifications as Exhibits 31.1, 31.2, 32.1 and 32.2. No attempt has been made in this Amendment No. 2 to the Form 10-K for the year ended December 31, 2016 to modify or update the other disclosures presented in the Form 10-K as previously filed, except as required by the restatement. This Amendment No. 2 on Form 10-K/A does not reflect events occurring after the filing of the original Form 10-K or modify or update those disclosures that may be affected by subsequent events. Accordingly, this Amendment No. 2 should be read in conjunction with our other filings with the Securities and Exchange Commission. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Current Assets | ||
Cash and cash equivalents | $ 12,272,444 | $ 15,116,531 |
Accounts receivable, net of reserves for uncollectable accounts of $64,824 and $92,863, respectively | 505,074 | 308,551 |
Prepaid expenses and other current assets | 434,444 | 474,029 |
Current assets of discontinued operations | 231,978 | 1,248,569 |
Current assets held for sale | 5,315,107 | |
Total Current Assets | 13,443,940 | 22,462,787 |
Property and equipment, net | 15,252,357 | 21,235,384 |
Intangible assets, net | 3,652,490 | 1,273,030 |
Goodwill | 1,674,281 | 1,674,281 |
Other assets | 369,769 | 384,357 |
Total Assets | 34,392,837 | 47,029,839 |
Current Liabilities | ||
Accounts payable | 323,625 | 877,134 |
Accrued expenses | 911,210 | 1,629,218 |
Deferred revenues | 1,161,520 | 1,486,754 |
Current maturities of capital lease obligations | 791,009 | 992,690 |
Current liabilities of discontinued operations | 1,240,000 | 3,907,368 |
Deferred rent | 110,738 | 63,012 |
Long-term debt, net of debt discounts and deferred financing costs of $1,803,742 | 31,487,253 | |
Total Current Liabilities | 36,025,355 | 8,956,176 |
Long-Term Liabilities | ||
Long-term debt, net of debt discounts and deferred financing costs of $3,744,941 | 31,487,253 | 33,003,962 |
Long-Term | 158,703 | 932,826 |
Other | 1,062,237 | 1,591,188 |
Total Long-Term Liabilities | 1,220,940 | 35,527,976 |
Total Liabilities | 37,246,295 | 44,484,152 |
Commitments (Note 15) | ||
Stockholders' (Deficit)/Equity | ||
Common stock, par value $0.001; 200,000,000 shares authorized; 18,327,263 and 3,342,391 shares issued and outstanding as of December 31, 2016 and 2015, respectively | 18,327 | 3,343 |
Additional paid-in-capital | 173,782,939 | 158,761,075 |
Accumulated deficit | (176,655,227) | (156,218,731) |
Total Stockholders' (Deficit)/Equity | (2,853,458) | 2,545,687 |
Total Liabilities and Stockholders' (Deficit)/Equity | 34,392,837 | 47,029,839 |
Series A Preferred Stock [Member] | ||
Stockholders' (Deficit)/Equity | ||
Preferred stock | ||
Series B Convertible Preferred Stock [Member] | ||
Stockholders' (Deficit)/Equity | ||
Preferred stock | ||
Series C Convertible Preferred Stock [Member] | ||
Stockholders' (Deficit)/Equity | ||
Preferred stock | ||
Series D Convertible Preferred Stock [Member] | ||
Stockholders' (Deficit)/Equity | ||
Preferred stock | 2 | |
Series E Convertible Preferred Stock [Member] | ||
Stockholders' (Deficit)/Equity | ||
Preferred stock | 500 | |
Series F Convertible Preferred Stock [Member] | ||
Stockholders' (Deficit)/Equity | ||
Preferred stock | $ 1 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Accounts receivable, reserves for uncollectable accounts | $ 64,824 | $ 92,863 |
Debt discount, current | 1,803,742 | |
Debt discount, noncurrent | $ 3,744,941 | |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock, issued (in shares) | 18,327,263 | 3,342,391 |
Common stock, outstanding (in shares) | 18,327,263 | 3,342,391 |
Series B Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series C Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series D Convertible Preferred Stock [Member] | ||
Preferred stock, liquidation value | $ 1,233,000 | |
Preferred stock, shares issued (in shares) | 1,233 | 0 |
Preferred stock, shares outstanding (in shares) | 1,233 | 0 |
Series E Convertible Preferred Stock [Member] | ||
Preferred stock, liquidation value | $ 500 | |
Preferred stock, shares issued (in shares) | 500,000 | 0 |
Preferred stock, shares outstanding (in shares) | 500,000 | 0 |
Series F Convertible Preferred Stock [Member] | ||
Preferred stock, liquidation value | $ 1,233,000 | $ 0 |
Preferred stock, shares issued (in shares) | 1,233 | 0 |
Preferred stock, shares outstanding (in shares) | 1,233 | 0 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues | $ 26,895,613 | $ 27,905,023 |
Operating Expenses | ||
Infrastructure and access | 10,294,523 | 10,073,835 |
Depreciation and amortization | 10,875,935 | 9,643,583 |
Network operations | 5,185,105 | 5,192,117 |
Customer support | 1,858,314 | 2,500,553 |
Sales and marketing | 3,936,915 | 6,034,383 |
General and administrative | 7,777,657 | 7,050,526 |
Loss on extinguishment of debt | 500,000 | |
Total Operating Expenses | 40,428,449 | 40,494,997 |
Operating Loss | (13,532,836) | (12,589,974) |
Other Income/(Expense) | ||
Interest expense, net | (6,605,222) | (6,652,786) |
Loss before income taxes | (20,138,058) | (19,242,760) |
(Provision) benefit for income taxes | (56,663) | 37,562 |
Loss from continuing operations | (20,194,721) | (19,205,198) |
Net operating loss | (1,419,517) | (21,277,604) |
Gain on sale of assets | 1,177,742 | |
Total loss from discontinued operations | (241,775) | (21,277,604) |
Net Loss | (20,436,496) | (40,482,802) |
Deemed dividend to Series D preferred stockholders | (1,721,745) | |
Net loss attributable to common stockholders | $ (22,158,241) | $ (40,482,802) |
(Loss) gain per share – basic and diluted | ||
Continuing (in dollars per share) | $ (3.65) | $ (5.65) |
Discontinued | ||
Operating loss (in dollars per share) | (0.24) | (6.26) |
Gain on sale of assets (in dollars per share) | 0.20 | |
Total discontinued (in dollars per share) | (0.04) | (6.26) |
Net loss per common share – Basic and diluted (in dollars per share) | $ (3.69) | $ (11.91) |
Weighted average common shares outstanding – Basic and diluted (in shares) | 5,997,650 | 3,396,583 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity/(Deficit) - USD ($) | Preferred Stock [Member]Series B Preferred Stock [Member] | Preferred Stock [Member]Series C Preferred Stock [Member] | Preferred Stock [Member]Series D Preferred Stock [Member] | Preferred Stock [Member]Series E Preferred Stock [Member] | Preferred Stock [Member]Series F Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2014 | 3,332,838 | ||||||||
Balance at Dec. 31, 2014 | $ 3,333 | $ 157,694,623 | $ (115,735,929) | $ 41,962,027 | |||||
Issuance on shares of common stock in connection with the exercise of stock options utilizing a cashless exercise provision (in shares) | 4,830 | 21,327 | |||||||
Issuance on shares of common stock in connection with the exercise of stock options utilizing a cashless exercise provision | $ 5 | (5) | |||||||
Issuance at the end of each quarter of a total of 2,838 shares of common stock at an average price of $17.53 per share for proceeds of $49,757 in connection with the employee stock purchase plan (in shares) | 2,838 | ||||||||
Issuance at the end of each quarter of a total of 2,838 shares of common stock at an average price of $17.53 per share for proceeds of $49,757 in connection with the employee stock purchase plan | $ 3 | 49,754 | $ 49,757 | ||||||
Additional shares issued to participants in the employee stock purchase plan for activity since the plan's inception affected by the rounding provisions of the reverse stock split of July 7, 2016 (in shares) | 1,884 | ||||||||
Additional shares issued to participants in the employee stock purchase plan for activity since the plan's inception affected by the rounding provisions of the reverse stock split of July 7, 2016 | $ 2 | (2) | |||||||
Share-based compensation expense for options issued to directors, management, and employees during the current and previous years | 1,016,705 | 1,016,705 | |||||||
Net Loss | (40,482,802) | (40,482,802) | |||||||
Net loss | (40,482,802) | (40,482,802) | |||||||
Balance (in shares) at Dec. 31, 2015 | 3,342,390 | ||||||||
Balance at Dec. 31, 2015 | $ 3,343 | 158,761,075 | (156,218,731) | $ 2,545,687 | |||||
Issuance on shares of common stock in connection with the exercise of stock options utilizing a cashless exercise provision (in shares) | |||||||||
Issuance on various dates between February 1, and September 21, 2016, incusive, of 192,966 shares of common stock at an average of $2.53 per share for services valued at $488,656 (in shares) | 192,966 | ||||||||
Issuance on various dates between February 1, and September 21, 2016, incusive, of 192,966 shares of common stock at an average of $2.53 per share for services valued at $488,656 | $ 488,656 | ||||||||
Share-based compensation expense for options issued to directors, management, and employees during the current and previous years | 1,024,955 | 1,024,955 | |||||||
Net Loss | (20,436,496) | (20,436,496) | |||||||
Net loss | (20,436,496) | (20,436,496) | |||||||
Balance (in shares) at Dec. 31, 2016 | 1,233 | 500,000 | 1,233 | 18,327,263 | |||||
Balance at Dec. 31, 2016 | $ 2 | $ 500 | $ 1 | $ 18,327 | $ 173,782,939 | $ (176,655,227) | $ (2,853,458) |
Consolidated Statements of Sto6
Consolidated Statements of Stockholders' Equity/(Deficit) (Parentheticals) | Nov. 22, 2016USD ($)$ / shares | Nov. 01, 2016USD ($)$ / shares | Sep. 21, 2016USD ($)$ / shares | Sep. 12, 2016USD ($)$ / shares | Jul. 07, 2016USD ($)$ / shares | Jun. 20, 2016USD ($)$ / shares | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($)$ / shares |
Common Stock [Member] | |||||||||
Gross cash proceeds | $ 2,280,000 | ||||||||
Transactions costs | $ 71,850 | $ 621,720 | $ 43,750 | ||||||
Price per share/unit (in dollars per share) | $ / shares | $ 1.35 | $ 2.53 | $ 1.35 | $ 3.04 | $ 0.97 | $ 0.97 | $ 17.53 | ||
Proceeds from sale of common stock | $ 600,000 | $ 4,000,000 | $ 28,951 | $ 49,757 | |||||
Preferred Stock [Member] | Series B Preferred Stock [Member] | |||||||||
Gross cash proceeds | $ 1,250,000 | ||||||||
Transactions costs | $ 56,156 | ||||||||
Price per share/unit (in dollars per share) | $ / shares | $ 1.40 | ||||||||
Preferred Stock [Member] | Series D Preferred Stock [Member] | |||||||||
Transactions costs | $ 172,366 | ||||||||
Stock split, conversion ratio | 5.5 | ||||||||
Price per share/unit (in dollars per share) | $ / shares | $ 1,000 | ||||||||
Proceeds from sale of common stock | $ 1,000,000 | ||||||||
Gross cash proceeds | $ 6,142,680 | ||||||||
Transactions costs | $ 621,720 | ||||||||
Proceeds from sale of common stock | $ 4,000,000 | $ 24,429 | $ 42,216 |
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 | $ (20,436,496) | $ (40,482,802) |
Loss from discontinued operations | 241,775 | 21,277,604 |
Net loss from continuing operations | (20,194,721) | (19,205,198) |
Adjustments to reconcile loss from continuing operations to net cash used in operating activities: | ||
Provision (benefit) for income taxes | 56,663 | (37,562) |
Provision for doubtful accounts | 25,000 | 132,000 |
Depreciation for property, plant and equipment | 9,417,612 | 9,251,311 |
Amortization for intangible assets | 1,458,323 | 392,272 |
Amortization of Debt Issuance Costs | 1,609,588 | 2,080,125 |
Loss on extinguishment of debt | 500,000 | |
Write-off of debt discount and deferred financing costs in connection with extinguishment of debt | 331,609 | |
Accrued interest added to principal | 1,477,926 | 1,453,347 |
Stock-based compensation - Options | 1,024,955 | 1,016,705 |
Stock-based compensation – Stock issued for services | 488,656 | |
Stock-based compensation – Employee stock purchase plan | 4,523 | 7,541 |
Impairment of intangible assets | 534,555 | |
Deferred rent | (537,888) | (139,430) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (221,523) | 146,527 |
Prepaid expenses and other current assets | 39,585 | (159,901) |
Other assets | (24,584) | (70,841) |
Account payable | (553,509) | 119,925 |
Accrued expenses | (765,628) | 19,486 |
Deferred revenues | (325,234) | 101,908 |
Total Adjustments | 14,006,074 | 14,847,968 |
Net Cash Used In Continuing Operating Activities | (6,188,647) | (4,357,230) |
Net Cash Used In Discontinued Operating Activities | (1,546,688) | (10,896,524) |
Net Cash Used In Operating Activities | (7,735,335) | (15,253,754) |
Cash Flows From Investing Activities | ||
Acquisitions of property and equipment | (2,361,601) | (6,487,040) |
Lease incentive payment from landlord | 10,626 | |
Payment (refund) of security deposits | 39,172 | (7,950) |
Deferred acquisition payments | (11,517) | |
Net Cash Used In Continuing Investing Activities | (2,322,429) | (6,495,881) |
Net Cash Used In Discontinued Investing Activities | (187,524) | |
Net Cash Used In Investing Activities | (2,322,429) | (6,683,405) |
Cash Flows From Financing Activities | ||
Payments on capital leases | (975,804) | (1,016,035) |
Gross cash proceeds | 6,142,680 | |
Net proceeds from the issuance of preferred stock | 2,022,372 | |
Proceeds from Issuance of Common Stock | 24,429 | 42,216 |
Net Cash Provided By (Used In) Continuing Financing Activities | 7,213,677 | (973,819) |
Net Cash Provided By (Used In) Discontinued Financing Activities | ||
Net Cash Provided By (Used In) Financing Activities | 7,213,677 | (973,819) |
Net Decrease In Cash and Cash Equivalents | (2,844,087) | (22,910,978) |
Cash and Cash Equivalents – Beginning of year | 15,116,531 | 38,027,509 |
Cash and Cash Equivalents – Ending of year | 12,272,444 | 15,116,531 |
Supplemental Disclosures of Cash Flow Information | ||
Interest | 3,113,805 | 3,163,976 |
Income taxes | 13,909 | 24,028 |
Under capital leases | 810,026 | |
Included in accrued expenses | 118,139 | 176,614 |
Conversion of debt into Series D Convertible Preferred Stock | 5,329,736 | |
Exchange of intangible assets – discontinued operations (Note 4) | $ 3,837,783 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Business | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1 Organization and Nature of Business Towerstream Corporation (referred to as “Towerstream” or the “Company”) was incorporated in Delaware in December 1999. first five In January 2013, fourth 2015, fourth 2015 first 2016 On March 9, 2016, three two one sixty first 2016, not December 31, 2015. |
Note 2 - Liquidity, Going Conce
Note 2 - Liquidity, Going Concern, and Management Plans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Liquidity and Management Plans [Text Block] | Note 2 Liquidity, Going Concern, and Management Plans The accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As of December 31, 2016, $12.3 $22.6 December 31, 2016, $176.7 one not During the year ended December 31, 2016, $9,130,000 10, Capital Stock $5,000,000 9, Long-Term Debt no no may no |
Note 3 - Basis of Presentation
Note 3 - Basis of Presentation and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3 Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. Retroactive Adjustment For Reverse Stock Split On July 7, 2016, one twenty Use of Estimates 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, the disclosure of contingent assets and liabilities, and the amounts of revenues and expenses. Actual results could differ from those estimates. Key estimates include fair value of certain financial instruments, carrying value of intangible assets, reserves for accounts receivable and accruals for liabilities. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and cash equivalents. At times, the Company’s cash and cash equivalents may December 31, 2016, $12 $250,000. Accounts Receivable Accounts receivable are stated at cost less an allowance for doubtful accounts which reflects the Company’s estimate of balances that will not Property and Equipment Property and equipment are stated at cost and include equipment, installation costs and materials. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized over the lesser of the useful lives or the term of the respective lease. Network, base station, shared wireless infrastructure and customer premise equipment are depreciated over estimated useful lives of five three five three five not FCC Licenses Federal Communications Commission (“FCC”) licenses are initially recorded at cost and are considered to be intangible assets with an indefinite life because the Company is able to maintain the license indefinitely as long as it complies with certain FCC requirements. The Company intends to and has demonstrated an ability to maintain compliance with such requirements. The Financial Accounting Standards Board’s (“FASB”) guidance on goodwill and other intangible assets states that an asset with an indefinite useful life is not Long-Lived Assets Long-lived assets with definitive lives consist primarily of property and equipment, and certain intangible assets. Long-lived assets are evaluated periodically for impairment, or whenever events or circumstances indicate their carrying value may not not The FASB’s guidance on asset retirement obligations addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated costs. This guidance requires the recognition of an asset retirement obligation and an associated asset retirement cost when there is a legal obligation associated with the retirement of tangible long-lived assets. The Company’s network equipment is installed on both buildings in which the Company has a lease agreement and at customer locations. In both instances, the installation and removal of the Company’s equipment is not not not not Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of identifiable net assets acquired in an acquisition. Goodwill is not may not No 50 no December 31, 2016 2015, Fair Value of Financial Instruments The Company has categorized its financial assets and liabilities measured at fair value into a three not Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not not not Revenue Recognition The Company normally enters into contractual agreements with its customers for periods ranging between one three no 104, 104” Deferred Revenues Customers are billed monthly in advance. Deferred revenues are recognized for that portion of monthly charges not Advertising Costs The Company charges advertising costs to expense as incurred. Advertising costs for the years ended December 31, 2016, 2015 $245,230, $1,058,000, Stock-Based Compensation The Company accounts for stock-based awards issued to employees in accordance with FASB guidance. Such awards primarily consist of options to purchase shares of common stock. The fair value of stock-based awards is determined on the grant date using a valuation model. The fair value is recognized as compensation expense, net of estimated forfeitures, on a straight line basis over the service period which is normally the vesting period. Basic and Diluted Net Loss Per Share Basic and diluted net loss per share has been calculated by dividing net loss by the weighted average number of common shares outstanding during the period. The following common stock equivalents were excluded from the computation of diluted net loss per common share because they were anti-dilutive. The exercise of these common stock equivalents would dilute earnings per shares if the Company becomes profitable in the future. Years Ended December 31, 2016 2015 Stock options 2,106,889 217,002 Warrants 180,000 202,500 Series D Convertible Preferred Stock 3,082,500 - Series E Convertible Preferred Stock 500,000 - Series F Convertible Preferred Stock 6,165,000 - Total 12,034,389 419,502 Convertible Instruments The Company accounts for hybrid contracts that feature conversion options in accordance with applicable GAAP which requires companies to bifurcate conversion options from their host instruments and account for them as freestanding derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not not Conversion options that contain variable settlement features such as provisions to adjust the conversion price to those more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument. Reclassifications Certain accounts in the prior year’s consolidated financial statements have been reclassified for comparative purposes to conform to the presentation in the current year’s consolidated financial statements. These reclassifications have no Segments The Company determined that the Shared Wireless Infrastructure and Fixed Wireless businesses represented separate business segments. In addition, the Company established a Corporate Group so that centralized operating and administrative activities which supported both businesses could be reported separately. During the fourth 2015, Recent Accounting Pronouncements In May 2014, No. 2014 09 2014 09” 2014 09 605, 605 35, 2014 09 2014 09 2014 09 2014 09 two first 2014 09 second 2014 09 2014 09 2019 2015 14, 606 August 2015 one 2014 09 2015 14 not may There have been four 2014 09, 2016 08, March,2016 2014 09. 2016 10, April 2016, 2014 09 2016 12, 2014 09 2014 09. 2016 20, 606, December 2016, 2014 09, four In June 2014, No. 2014 12 2014 12” 2014 12 not 2014 12 January 1, 2016 not In August 2014, No. 2014–15 2014 15” 2014 15 one January 1, 2017 not In April 2015, No. 2015 03 2015 03” 835 30 2015 03 2015 03 January 1, 2016. December 31, 2015 $34,695,383 $1,691,421 In February 2016, 2016 02 2016 02 842 2016 02 2016 02 January 1, 2019. 2016 02 In March 2016, No. 2016 09, 718 January 1, 2017. In August 2016, No. 2016 15, 230 2016 15” 2016 15 eight December 15, 2017, 2016 15 In January 2017, No. 2017 01 805 not December 15, 2017, not In January 2017, No. 2017 04 2017 04” 350 2 2017 04 December 15, 2019. January 1, 2017. not 2017 04 |
Note 4 - Discontinued Operation
Note 4 - Discontinued Operations | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 4 Discontinued Operations During the fourth 2015, fourth 2015 first 2016 March 9, 2016, three two one sixty $2,660,041 $3,837,783. first 2016, $1,177,742 The Company has determined that it will not $1,585,319 first 2016 $453,403 $528,364 not $110,500 not $493,052 $1,244,284 fourth 2015. first 2016 Operating Results The operating results and cash flows for Hetnets have been presented as discontinued operating results in these consolidated financial statements of which a more detailed presentation is set forth below. There has been no Year Ended December 31, 2016 2015 Revenues $ 553,302 $ 3,370,181 Operating expenses: Infrastructure and access 965,596 19,292,571 Depreciation 638,681 4,032,219 Network operations 192,947 793,886 Customer support 69,804 383,155 Sales and marketing 246 145,954 General and administrative 105,545 - Total operating expenses 1,972,819 24,647,785 Net operating loss (1,419,517 ) (21,277,604 ) Gain on sale of assets 1,177,742 - Net Loss $ (241,775 ) $ (21,277,604 ) Included in Infrastructure and Access expense during the year ended December 31, 2016 2015, $453,403 $3,284,467 December 31, 2016 2015 December 31, 2016 $1,557,626 $1,240,000 December 31, 2016 The components of the balance sheet accounts presented as discontinued operations were as follows: As of December 31, 2016 2015 Assets: Accounts receivable, net $ - $ 715,993 Prepaid expenses and other current assets 231,978 278,891 Deferred acquisitions costs - 253,685 Total Current Assets $ 231,978 $ 1,248,569 Liabilities: Accounts payable $ - $ 556,800 Accrued expenses - 66,101 Accrued expenses - network 1,240,000 3,284,467 Total Current Liabilities $ 1,240,000 $ 3,907,368 Assets Held for Sale Assets associated with the New York City network were presented as Assets Held for Sale as of December 31, 2015. Security deposits $ 356,108 Wi-Fi and back-end equipment, net - 4,958,999 Current assets held for sale $ 5,315,107 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5 Property and Equipment Property and equipment is comprised of: As of December 31, 2016 2015 Network and base station equipment $ 42,098,570 $ 38,351,119 Customer premise equipment 33,617,085 30,910,874 Information technology 4,859,875 4,810,865 Furniture, fixtures and other 1,713,430 1,713,722 Leasehold improvements 1,631,322 1,623,559 83,920,282 77,410,139 Less: accumulated depreciation 68,667,925 56,174,755 Property and equipment, net $ 15,252,357 $ 21,235,384 Depreciation expense for the years ended December 31, 2016 2015 $9,417,612 $9,251,311, Property acquired through capital leases included within the Company’s property and equipment consists of the following: As of December 31, 2016 2015 Network and base station equipment $ 2,620,898 $ 2,620,898 Customer premise equipment 669,792 669,792 Information technology 1,860,028 1,860,028 5,150,718 5,150,718 Less: accumulated depreciation 4,083,274 3,114,968 Property acquired through capital leases, net $ 1,067,444 $ 2,035,750 |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangible Assets | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 6 Goodwill and Intangible Assets Intangible assets consist of the following: As of December 31, 2016 2015 Goodwill $ 1,674,281 $ 1,674,281 Customer relationships $ 11,856,126 $ 11,856,126 Less: accumulated amortization 11,725,369 11,333,096 Customer relationships, net 130,757 523,030 Backhaul agreement 3,837,783 - Less: accumulated amortization 1,066,050 - Backhaul agreement, net 2,771,733 - FCC licenses 750,000 1,284,555 Impairment charge - (534,555 ) FCC licenses, net 750,000 750,000 Intangible assets, net $ 3,652,490 $ 1,273,030 Amortization expense for the year ended December 31, 2016 2015 $1,458,323 $392,272, 4, three 50 not Years Ending December 31, 2017 1,410,019 2018 1,279,261 2019 213,210 Total $ 2,902,490 |
Note 7 - Accrued Expenses
Note 7 - Accrued Expenses | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Accrued Liabilities Disclosure [Text Block] | Note 7 Accrued Expenses Accrued expenses consist of the following: As of December 31, 2016 2015 Payroll and related $ 294,006 $ 551,448 Professional services 263,928 427,932 Other 142,492 339,680 Property and equipment 118,139 176,614 Network 92,645 133,544 Total $ 911,210 $ 1,629,218 Network represents costs incurred to provide services to the Company’s customers including tower rentals, bandwidth, troubleshooting and gear removal. |
Note 8 - Other Long-term Liabil
Note 8 - Other Long-term Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | Note 8 Other Long-Term Liabilities Other long-term liabilities consist of the following: As of December 31, 2016 2015 Deferred rent $ 641,799 $ 1,227,414 Deferred taxes 420,438 363,774 Total $ 1,062,237 $ 1,591,188 |
Note 9 - Long-term Debt
Note 9 - Long-term Debt | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 9 Long-Term Debt Long-term debt consists of the following as of December 31, 2016 2015: 2016 Callable 2015 Principal $ 33,290,995 $ 36,748,903 Unamortized debt discount (1,803,742 ) (3,744,941 ) Total $ 31,487,253 $ 33,003,962 In October 2014, $35,000,000 $33,950,000 3% This Note matures on October 16, 2019 360 a) A rate equal to the greater of: i) the sum of the one 7% 8% one 0.77% December 31, 2016. b) A rate of 4% This Note is secured by a first The Note contains representations and warranties by the Company and the Lender, certain indemnification provisions in favor of the Lender and customary covenants (including limitations on other debt, liens, acquisitions, investments and dividends), and events of default (including payment defaults, breaches of covenants, a material impairment in the Lender’s security interest or in the collateral, and events relating to bankruptcy or insolvency). The Note contains several restrictive covenants and the most significant of which requires the Company to maintain a minimum cash balance of $6,500,000 not one December 31, 2016, June 14, 2017 March 31, 2017. 5% may not The Company has the option to prepay the Note in the minimum principal amount of $5,000,000 $1,000,000 not A discount of $6,406,971 a) $2,463,231 120,000 60,000 $25.20 $0.20 April 2022. b) $2,893,739 c) $1,050,000 3% On November 8, 2016 10, Capital Stock $5,000,000 $4,935,834 $64,166, 1,000 4,000,000 a) Wrote-off the portion of the unamortized debt discount and deferred financing costs associated with the exchanged principal and recorded a charge to interest expense of $331,609. b) Recorded a non-cash loss on extinguishment of debt charge of $500,000. $5,500,000 10, Capital Stock $5,000,000 The Company recorded interest expense of $4,497,945 $4,360,042 December 31, 2016 2015, $2,955,853 $2,906,695 $1,477,926 $1,453,347 December 31, 2016 2015, The Company recorded amortization expense of $1,609,588 $2,080,125 December 31, 2016 2015, |
Note 10 - Capital Stock
Note 10 - Capital Stock | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 10 Capital Stock The Company is authorized to issue up to 200,000,000 $0.001 18,327,264 3,342,391 December 31, 2016 2015, one may no may may August 21, 2015, 95,000,000 200,000,000. The Company is authorized to issue up to 5,000,000 $0.001 may one one may The Company had created Series A Preferred Stock during the year ended December 31, 2010 December 31, 2016, December 31, 2016 2015: Designated Issued and Outstanding 2016 2015 Series A Preferred Stock 350,000 - - Series B Convertible Preferred Stock 892,857 - - Series C Convertible Preferred Stock 680,000 - - Series D Convertible Preferred Stock 4,421 1,233 - Series E Convertible Preferred Stock 2,000,000 500,000 - Series F Convertible Preferred Stock 1,233 1,233 - 3,928,511 502,466 - The preferences, rights, and limitations of each series of preferred stock are discussed to the extent appropriate in the following paragraphs. a) On November 8, 2010, one November 24, 2010. one one 350,000 $18.00. 15% 15% November 8, 2020. may $0.001 tenth 15% b) On June 20, 2016, $2,280,000 750,000 $3.04 750,000 750,000 $5.00 five $43,750 $2,236,250. $1,677,188 $559,062, 11, Stock Option Plans and Warrants c) On July 7, 2016 1 20 d) On July 7, 2016, $1,250,000 892,857 $1.40 892,857 446,429 223,214 $3.00 five $56,156 $1,193,844. $963,949 $229,895, 11, Stock Option Plans and Warrants e) On July 21 July 26, 2016, 892,857 July 7, 2016, 446,429 f) On September 12, 2016, June 20 July 7, 2016 750,000 223,214 680,000 one one $1,031,999 $680 $1,031,319. g) On September 12, 2016, $4,000,000 2,962,963 $1.35 7% $280,000, $621,720 $3,378,280. October 31, 2016 444,444 $1.35 h) On various dates from October 10 October 18, 2016, 680,000 September 12, 2016, i) On November 1, 2016, September 12, 2016 $600,000 444,444 $1.35 7% $42,000, $71,850 $528,150. j) On November 8, 2016, , $5,000,000 $5,500,000 9 Long-Term Debt The Company then exchanged such debt for 1,000 4,000,000 $1.34 five The key preferences, rights, and limitations of the Series D shares, including subsequent documented agreements with the holder of the Series D shares, are as follows: i) The Stated Value of each Series D share is $5,500; ii) Series D shares may $5,500 $0.644 iii) Series D shares may not 9.99% iv) Series D shares may v) The Company may $15,000,000 $0.50 November 8, 2017. $2,000,000; vi) The holder of Series D has a right to participate up to 100% November 8, 2017. The Series D shares and the warrants were immediately separable and were issued independently. Expenses associated with this transaction totaled $170,264 $5,329,736. $3,740,942 $1,588,794, 11, Stock Option Plans and Warrants Additionally, upon the issuance of the Series D shares, the Company recorded a beneficial conversion feature and a deemed dividend in the amount of $1,375,000. k) On various dates from November 10 November 16, 2016, 378 November 8, 2016, 3,228,264 l) On November 22, 2016, 5.5 1 622 3,421, 2,799 3,421 $5,500 $1,000 $1,000 75% no $0.40 On November 22, 2016, $1,000,000 1,000 $1,000 $172,366 $827,635. Additionally on November 22, 2016 $346,745. Finally, on November 22, 2016, November 8, 2016, 4,000,000 2,000,000 The key preferences, rights, and limitations of the Series E shares are as follows: i) The Stated Value of each Series E share is $0.001; ii) Series E shares are convertible into the Company's common shares on a one one iii) Series E shares may not 9.99% iv) Series E shares may m) On various dates from November 22 November 29, 2016, 1,955 November 8 22, 2016, 4,750,000 n) On December 19, 2016, 1,500,000 November 22, 2016, 1,500,000 o) On December 30, 2016, 1,233 November 8 22, 2016. 1,233 The key preferences, rights, and limitations of the Series F shares are substantially the same as Series D with the exception of the conversion price and are as follows: i) The Stated Value of each Series F share is $1,000; ii) Series F shares may 90% five may not $0.20 iii) Series F shares may not 9.99% iv) Series F shares may There was no p) On various dates during the year ended December 31, 2016, 192,966 third $2.53 $488,656. |
Note 11 - Stock Option Plans an
Note 11 - Stock Option Plans and Warrants | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 11 Stock Option Plans and Warrants Stock Options Plans The 2007 “2007 January 2007 2007 120,196. 88,715 2007 December 31, 2016. The 2007 May 2007 125,000 “2007 2007 125,000 250,000 November 2012. 242,487 2007 December 31, 2016. Options granted under both the 2007 2007 ten not December 31, 2016 2007 2007 38,995 The 2008 “2008 August 2008 50,000 November 2013, 2008 100,000. 76,125 2008 December 31, 2016. 2008 ten December 31, 2016 2008 23,875 The 2016 September 2016 682,000 “2016 2016 682,000 1,435,000 December 2016. 1,805,499 2016 December 31, 2016. February 2017, 2016 1,435,000 2,521,347. The 2016 December 2016 250,000 “2016 no 2016 December 31, 2016. Options granted under both the 2016 2016 ten not The Company uses the Black-Scholes model to value options granted to employees, directors and consultants. Compensation expense, including the estimated effect of forfeitures, is recognized over the period of service, generally the vesting period. Stock-based compensation for the amortization of stock options granted under the Company’s stock option plans totaled $1,024,955 $1,016,705 December 31, 2016 2015, The unamortized amount of stock options expense was $843,779 December 31, 2016 2.9 The fair values of stock option grants were calculated on the dates of grant using the Black-Scholes option pricing model and the following weighted average assumptions: Years Ended December 31, 2016 2015 Risk-free interest rate 0.9% to 1.8% 1.5% to 1.7% Expected volatility 78% to 110% 58% to 77% Expected life (in years) 4.2 4.1 to 4.2 Expected dividend yield 0% 0% Estimated forfeiture rates 1% to 20% 1% to 10% The risk-free interest rate was based on rates established by the Federal Reserve. The expected volatility was based upon the historical volatility for the Company’s common stock. The Company utilized historical data to determine the expected life of stock options. The dividend yield is based upon the fact that the Company has not not Option transactions under the stock option plans during the years ended December 31, 2016 2015 Number of Options Weighted Average Exercise Price Outstanding as of January 1, 2015 199,885 $ 54.60 Granted during 2015 43,938 29.20 Exercised (21,327 ) 31.60 Forfeited /expired (5,494 ) 38.80 Outstanding as of December 31, 2015 217,002 52.20 Granted during 2016 1,938,249 1.22 Exercised - - Forfeited /expired (48,362 ) 52.38 Outstanding as of December 31, 2016 2,106,889 $ 5.30 Exercisable as of December 31, 2016 927,520 $ 10.24 Grants under the stock option plans were as follows: For the Years Ended December 31, 2016 2015 Annual grants to outside directors 294,999 10,000 Executive grants 452,500 11,563 Employee grants 1,108,250 22,375 Non-employee grants 82,500 - Total 1,938,249 43,938 Options granted during the reporting period had terms ranging from five ten one one one two one three six one Forfeited or expired options under the stock option plans were as follows: For the Years Ended December 31, 2016 2015 Employee terminations 46,260 4,119 Expired 2,102 1,375 Total 48,362 5,494 The weighted-average fair values of the options granted during 2016 2015 $0.74 $0.68, 2,106,889 December 31, 2016 $0.24 $105.00 9.4 927,520 December 31, 2016 $0.24 $105.00 9.0 As of December 31, 2016, no December 31, 2016, $0.18 Stock Warrants Warrant transactions during the years ended December 31, 2016 2015 Number of Warrants Weighted Average Exercise Price Outstanding as of January 1, 2015 and December 31, 2015 202,500 $ 26.20 Granted during 2016 4,973,214 1.63 Exchanged during 2016 (4,973,214 ) 1.63 Expired during 2016 (22,500 ) 100.00 Outstanding and exercisable as of December 31, 2016 180,000 $ 16.87 As of December 31, 2016, 5.3 As of December 31, 2016, no December 31, 2016 $0.18 In connection with the June 17, 2016 750,000 five $5.00 six $791,290 1.17%, 5 81%, not not In connection with the July 7, 2016 223,214 five $3.00 $240,709 0.97%, 5 78%, not not On September 12, 2016, 973,214 680,000 10, Capital Stock |
Note 12 - Employee Benefit Prog
Note 12 - Employee Benefit Programs | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Employee Stock Purchase Plan Disclosure [Text Block] | Note 12 Employee Benefit Programs The Company has established a 401 “401 twenty-one 30 401 No December 31, 2016 2015. Under the Company’s 2010 15% 25,000 December 31, 2016. December 31, 2016 2015, 29,807 2,838 $28,952 $49,757, $4,523 $7,541 15% December 31, 2016 2015, |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 13 Income Taxes Provision The provision for income taxes consists of the following: Years Ended December 31, 2016 2015 Current Federal $ - $ - State - - Total current - - Deferred Federal 45,587,097 (6,521,134 ) State 8,228,412 (1,150,789 ) Change in valuation allowance (53,758,846 ) 7,634,360 Total deferred 56,663 (37,562 ) Provision for income taxes $ 56,663 $ (37,562 ) The provision for income taxes using the U.S. Federal statutory tax rate as compared to the Company’s effective tax rate is summarized as follows: Years Ended December 31, 2016 2015 U.S. Federal statutory rate (34.0 )% (34.0 )% State taxes (4.9 )% (6.0 )% Permanent differences 0.9 % 0.1 % Rate Change 7.6 % 0.0 % Prior year Net Operating Loss write-off (Section 382 restriction) 263.2 % 0.0 % Current year Net Operating Loss write-off 34.5 % 0.0 % Valuation allowance (267.0 )% 39.8 % Effective tax rate 0.3 % (0.1 )% The Company files income tax returns for Towerstream Corporation and its subsidiaries in the U.S. federal and various state principle jurisdictions. As of December 31, 2016, 2013 2016 The Company’s deferred tax assets (liabilities) consisted of the effects of temporary differences attributable to the following: Years Ended December 31, 2016 2015 Deferred tax assets Net operating loss carryforwards $ 2,948,281 $ 56,202,470 Stock-based compensation 2,931,251 2,426,886 Intangible assets 1,261,696 2,481,960 Debt discount 984,422 695,259 Allowance for doubtful accounts 25,281 37,145 Other 532,040 1,388,166 Total deferred tax assets 8,682,971 63,231,886 Valuation allowance (7,676,293 ) (61,340,847 ) Deferred tax assets, net of valuation allowance 1,006,678 1,891,039 Deferred tax liabilities Depreciation (1,006,678 ) (1,891,039 ) Intangible assets (420,437 ) (363,774 ) Total deferred tax liabilities (1,427,115 ) (2,254,813 ) Net deferred tax liabilities $ (420,437 ) $ (363,774 ) Accounting for Uncertainty in Income Taxes ASC Topic 740 740 As of December 31, 2016 2015, no No December 31, 2016 2015. not twelve NOL Limitations The Company’s utilization of net operating loss (“NOL”) carryforwards is subject to an annual limitation due to ownership changes that have occurred previously or that could occur in the future as provided in Section 382 382 50% 382, As of December 31, 2015, $140,517,000 November 9, 2016, 50% 382 382, $4,612,000. December 31, 2016, $2,948,000. $7,560,000 December 31, 2016 December 31, 2017. Valuation Allowance In assessing the realizability of deferred tax assets, the Company has considered whether it is more likely than not not December 31, 2016 2015. $53,644,554 $16,145,402, December 31, 2016 2015 $94,292 $8,511,042, |
Note 14 - Fair Value Measuremen
Note 14 - Fair Value Measurement | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 14 Fair Value Measurement The FASB’s accounting standard for fair value measurements establishes a valuation hierarchy for disclosure of the inputs to valuation used to measure fair value. This hierarchy prioritizes the inputs into three 1 2 3 Cash and cash equivalents are measured at fair value using quoted market prices and are classified within Level 1 no December 31, 2016. Total Carrying Value Quoted prices in active markets (Level 1) Significant other o bservable i nputs (Level 2) Significant unobservable inputs (Level 3) December 31, 2016 $ 12,272,444 $ 12,272,444 $ - $ - December 31, 2015 $ 15,116,531 $ 15,116,531 $ - $ - |
Note 15 - Commitments
Note 15 - Commitments | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 15 Commitments Operating Lease Obligations The Company has entered into operating leases related to roof rights, cellular towers, office space, and equipment leases under various non-cancelable agreements expiring on various dates through June 2024. one fifteen not not As of December 31, 2016, Years Ending December 31, 2017 $ 7,943,370 2018 6,318,665 2019 4,846,377 2020 2,627,912 2021 667,892 Thereafter 231,105 Total $ 22,635,322 Rent expenses were as follows: Year Ended December 31, 2016 2015 Points of Presence $ 8,491,235 $ 8,180,389 Corporate offices 335,713 382,234 Other 552,177 414,618 Total $ 9,379,125 $ 8,977,241 Rent expenses related to Points of Presence and other were included in infrastructure and access and Network operations in the Company’s consolidated statements of operations. Rent expense related to the Company’s corporate offices was included in general and administrative expenses in the Company’s consolidated statements of operations. In September 2013, January 1, 2014 December 31, 2019 five December 31, 2024. $359,750 2014 3% $416,970 2019. In December 2014, second February 2015 38 five $53,130 3% April 2016, $26,648 $25,000. Capital Lease Obligations The Company has entered into capital leases to acquire property and equipment expiring through June 2018. December 31, 2016, Years Ending December 31, 2017 $ 837,811 2018 143,796 Sub-Total 981,607 Less: Interest expense 31,895 Total capital lease obligations $ 949,712 Current $ 791,009 Long-Term $ 158,703 |
Note 16 - Subsequent Events
Note 16 - Subsequent Events | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 16 Subsequent Events 1 On January 24, 2017, eighteen one three 2,037,085 $0.17 ten 940,193 January 24, 2018; 626,795 eight twenty-four January 24, 2020; 548,446 three 548,446 $15,000,000. 2 The Company issued shares of common stock in connection with the following activity: a) On January 9, 2017, 500,000 500,000 b) On various dates from January 26, 2017 March 23, 2017, 390 1,950,000 3 Effective February 1, 2017, February 2016 January 2017 three $12,500 $1,000 4 On February 4, 2017, 1,189,987 $0.17 ten 500,653 439,008 250,326 100% eight |
Note 17 - Restatement
Note 17 - Restatement | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Reclassifications [Text Block] | Note 17 Restatement Subsequent to filing its annual report for the year ended December 31, 2016, June 22, 2017, December 31, 2016 no On October 16, 2014, June 14, 2017, December 31, 2016 6.1 March 31, 2017. December 31, 2016 The Company has restated its previously reported balance sheet by reclassify long term debt with a net carrying value of $31,487,253 December 31, 2016. not December 31, 2016 no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. |
Stockholders' Equity, Policy [Policy Text Block] | Retroactive Adjustment For Reverse Stock Split On July 7, 2016, one twenty |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates 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, the disclosure of contingent assets and liabilities, and the amounts of revenues and expenses. Actual results could differ from those estimates. Key estimates include fair value of certain financial instruments, carrying value of intangible assets, reserves for accounts receivable and accruals for liabilities. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and cash equivalents. At times, the Company’s cash and cash equivalents may December 31, 2016, $12 $250,000. |
Receivables, Policy [Policy Text Block] | Accounts Receivable Accounts receivable are stated at cost less an allowance for doubtful accounts which reflects the Company’s estimate of balances that will not |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost and include equipment, installation costs and materials. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. Leasehold improvements are amortized over the lesser of the useful lives or the term of the respective lease. Network, base station, shared wireless infrastructure and customer premise equipment are depreciated over estimated useful lives of five three five three five not |
Goodwill and Intangible Assets, Intangible Assets, Indefinite-Lived, Policy [Policy Text Block] | FCC Licenses Federal Communications Commission (“FCC”) licenses are initially recorded at cost and are considered to be intangible assets with an indefinite life because the Company is able to maintain the license indefinitely as long as it complies with certain FCC requirements. The Company intends to and has demonstrated an ability to maintain compliance with such requirements. The Financial Accounting Standards Board’s (“FASB”) guidance on goodwill and other intangible assets states that an asset with an indefinite useful life is not |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets Long-lived assets with definitive lives consist primarily of property and equipment, and certain intangible assets. Long-lived assets are evaluated periodically for impairment, or whenever events or circumstances indicate their carrying value may not not The FASB’s guidance on asset retirement obligations addresses financial accounting and reporting for obligations associated with the retirement of tangible long-lived assets and the associated costs. This guidance requires the recognition of an asset retirement obligation and an associated asset retirement cost when there is a legal obligation associated with the retirement of tangible long-lived assets. The Company’s network equipment is installed on both buildings in which the Company has a lease agreement and at customer locations. In both instances, the installation and removal of the Company’s equipment is not not not not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill Goodwill represents the excess of the purchase price over the estimated fair value of identifiable net assets acquired in an acquisition. Goodwill is not may not No 50 no December 31, 2016 2015, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company has categorized its financial assets and liabilities measured at fair value into a three not |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period enacted. A valuation allowance is provided when it is more likely than not not not |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company normally enters into contractual agreements with its customers for periods ranging between one three no 104, 104” |
Revenue Recognition, Deferred Revenue [Policy Text Block] | Deferred Revenues Customers are billed monthly in advance. Deferred revenues are recognized for that portion of monthly charges not |
Advertising Costs, Policy [Policy Text Block] | Advertising Costs The Company charges advertising costs to expense as incurred. Advertising costs for the years ended December 31, 2016, 2015 $245,230, $1,058,000, |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation The Company accounts for stock-based awards issued to employees in accordance with FASB guidance. Such awards primarily consist of options to purchase shares of common stock. The fair value of stock-based awards is determined on the grant date using a valuation model. The fair value is recognized as compensation expense, net of estimated forfeitures, on a straight line basis over the service period which is normally the vesting period. |
Earnings Per Share, Policy [Policy Text Block] | Basic and Diluted Net Loss Per Share Basic and diluted net loss per share has been calculated by dividing net loss by the weighted average number of common shares outstanding during the period. The following common stock equivalents were excluded from the computation of diluted net loss per common share because they were anti-dilutive. The exercise of these common stock equivalents would dilute earnings per shares if the Company becomes profitable in the future. Years Ended December 31, 2016 2015 Stock options 2,106,889 217,002 Warrants 180,000 202,500 Series D Convertible Preferred Stock 3,082,500 - Series E Convertible Preferred Stock 500,000 - Series F Convertible Preferred Stock 6,165,000 - Total 12,034,389 419,502 |
Derivatives, Policy [Policy Text Block] | Convertible Instruments The Company accounts for hybrid contracts that feature conversion options in accordance with applicable GAAP which requires companies to bifurcate conversion options from their host instruments and account for them as freestanding derivative financial instruments according to certain criteria. The criteria includes circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not not Conversion options that contain variable settlement features such as provisions to adjust the conversion price to those more favorable than that featured in the hybrid contract generally result in their bifurcation from the host instrument. |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain accounts in the prior year’s consolidated financial statements have been reclassified for comparative purposes to conform to the presentation in the current year’s consolidated financial statements. These reclassifications have no |
Segment Reporting, Policy [Policy Text Block] | Segments The Company determined that the Shared Wireless Infrastructure and Fixed Wireless businesses represented separate business segments. In addition, the Company established a Corporate Group so that centralized operating and administrative activities which supported both businesses could be reported separately. During the fourth 2015, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In May 2014, No. 2014 09 2014 09” 2014 09 605, 605 35, 2014 09 2014 09 2014 09 2014 09 two first 2014 09 second 2014 09 2014 09 2019 2015 14, 606 August 2015 one 2014 09 2015 14 not may There have been four 2014 09, 2016 08, March,2016 2014 09. 2016 10, April 2016, 2014 09 2016 12, 2014 09 2014 09. 2016 20, 606, December 2016, 2014 09, four In June 2014, No. 2014 12 2014 12” 2014 12 not 2014 12 January 1, 2016 not In August 2014, No. 2014–15 2014 15” 2014 15 one January 1, 2017 not In April 2015, No. 2015 03 2015 03” 835 30 2015 03 2015 03 January 1, 2016. December 31, 2015 $34,695,383 $1,691,421 In February 2016, 2016 02 2016 02 842 2016 02 2016 02 January 1, 2019. 2016 02 In March 2016, No. 2016 09, 718 January 1, 2017. In August 2016, No. 2016 15, 230 2016 15” 2016 15 eight December 15, 2017, 2016 15 In January 2017, No. 2017 01 805 not December 15, 2017, not In January 2017, No. 2017 04 2017 04” 350 2 2017 04 December 15, 2019. January 1, 2017. not 2017 04 |
Note 3 - Basis of Presentatio26
Note 3 - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Years Ended December 31, 2016 2015 Stock options 2,106,889 217,002 Warrants 180,000 202,500 Series D Convertible Preferred Stock 3,082,500 - Series E Convertible Preferred Stock 500,000 - Series F Convertible Preferred Stock 6,165,000 - Total 12,034,389 419,502 |
Note 4 - Discontinued Operati27
Note 4 - Discontinued Operations (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule Of Components Of Loss From Discontinued Operations [Table Text Block] | Year Ended December 31, 2016 2015 Revenues $ 553,302 $ 3,370,181 Operating expenses: Infrastructure and access 965,596 19,292,571 Depreciation 638,681 4,032,219 Network operations 192,947 793,886 Customer support 69,804 383,155 Sales and marketing 246 145,954 General and administrative 105,545 - Total operating expenses 1,972,819 24,647,785 Net operating loss (1,419,517 ) (21,277,604 ) Gain on sale of assets 1,177,742 - Net Loss $ (241,775 ) $ (21,277,604 ) |
Discontinued Operation, Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | As of December 31, 2016 2015 Assets: Accounts receivable, net $ - $ 715,993 Prepaid expenses and other current assets 231,978 278,891 Deferred acquisitions costs - 253,685 Total Current Assets $ 231,978 $ 1,248,569 Liabilities: Accounts payable $ - $ 556,800 Accrued expenses - 66,101 Accrued expenses - network 1,240,000 3,284,467 Total Current Liabilities $ 1,240,000 $ 3,907,368 |
Disclosure of Assets Held-for-sale [Table Text Block] | Security deposits $ 356,108 Wi-Fi and back-end equipment, net - 4,958,999 Current assets held for sale $ 5,315,107 |
Note 5 - Property and Equipme28
Note 5 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | As of December 31, 2016 2015 Network and base station equipment $ 42,098,570 $ 38,351,119 Customer premise equipment 33,617,085 30,910,874 Information technology 4,859,875 4,810,865 Furniture, fixtures and other 1,713,430 1,713,722 Leasehold improvements 1,631,322 1,623,559 83,920,282 77,410,139 Less: accumulated depreciation 68,667,925 56,174,755 Property and equipment, net $ 15,252,357 $ 21,235,384 |
Schedule of Capital Leased Assets [Table Text Block] | As of December 31, 2016 2015 Network and base station equipment $ 2,620,898 $ 2,620,898 Customer premise equipment 669,792 669,792 Information technology 1,860,028 1,860,028 5,150,718 5,150,718 Less: accumulated depreciation 4,083,274 3,114,968 Property acquired through capital leases, net $ 1,067,444 $ 2,035,750 |
Note 6 - Goodwill and Intangi29
Note 6 - Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | As of December 31, 2016 2015 Goodwill $ 1,674,281 $ 1,674,281 Customer relationships $ 11,856,126 $ 11,856,126 Less: accumulated amortization 11,725,369 11,333,096 Customer relationships, net 130,757 523,030 Backhaul agreement 3,837,783 - Less: accumulated amortization 1,066,050 - Backhaul agreement, net 2,771,733 - FCC licenses 750,000 1,284,555 Impairment charge - (534,555 ) FCC licenses, net 750,000 750,000 Intangible assets, net $ 3,652,490 $ 1,273,030 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Years Ending December 31, 2017 1,410,019 2018 1,279,261 2019 213,210 Total $ 2,902,490 |
Note 7 - Accrued Expenses (Tabl
Note 7 - Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | Accrued expenses consist of the following: As of December 31, 2016 2015 Payroll and related $ 294,006 $ 551,448 Professional services 263,928 427,932 Other 142,492 339,680 Property and equipment 118,139 176,614 Network 92,645 133,544 Total $ 911,210 $ 1,629,218 |
Note 8 - Other Long-term Liab31
Note 8 - Other Long-term Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Other Liabilities [Table Text Block] | Other long-term liabilities consist of the following: As of December 31, 2016 2015 Deferred rent $ 641,799 $ 1,227,414 Deferred taxes 420,438 363,774 Total $ 1,062,237 $ 1,591,188 |
Note 9 - Long-term Debt (Tables
Note 9 - Long-term Debt (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | 2016 Callable 2015 Principal $ 33,290,995 $ 36,748,903 Unamortized debt discount (1,803,742 ) (3,744,941 ) Total $ 31,487,253 $ 33,003,962 |
Note 10 - Capital Stock (Tables
Note 10 - Capital Stock (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Preferred Stock Designated, Issued, and Outstanding [Table Text Block] | Designated Issued and Outstanding 2016 2015 Series A Preferred Stock 350,000 - - Series B Convertible Preferred Stock 892,857 - - Series C Convertible Preferred Stock 680,000 - - Series D Convertible Preferred Stock 4,421 1,233 - Series E Convertible Preferred Stock 2,000,000 500,000 - Series F Convertible Preferred Stock 1,233 1,233 - 3,928,511 502,466 - |
Note 11 - Stock Option Plans 34
Note 11 - Stock Option Plans and Warrants (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Years Ended December 31, 2016 2015 Risk-free interest rate 0.9% to 1.8% 1.5% to 1.7% Expected volatility 78% to 110% 58% to 77% Expected life (in years) 4.2 4.1 to 4.2 Expected dividend yield 0% 0% Estimated forfeiture rates 1% to 20% 1% to 10% |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Options Weighted Average Exercise Price Outstanding as of January 1, 2015 199,885 $ 54.60 Granted during 2015 43,938 29.20 Exercised (21,327 ) 31.60 Forfeited /expired (5,494 ) 38.80 Outstanding as of December 31, 2015 217,002 52.20 Granted during 2016 1,938,249 1.22 Exercised - - Forfeited /expired (48,362 ) 52.38 Outstanding as of December 31, 2016 2,106,889 $ 5.30 Exercisable as of December 31, 2016 927,520 $ 10.24 |
Schedule Of Grants Under Stock Option Plan Details [Table Text Block] | For the Years Ended December 31, 2016 2015 Annual grants to outside directors 294,999 10,000 Executive grants 452,500 11,563 Employee grants 1,108,250 22,375 Non-employee grants 82,500 - Total 1,938,249 43,938 |
Schedule Of Forfeited Or Expired Options Under Stock Option Plans [Table Text Block] | For the Years Ended December 31, 2016 2015 Employee terminations 46,260 4,119 Expired 2,102 1,375 Total 48,362 5,494 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Warrants Weighted Average Exercise Price Outstanding as of January 1, 2015 and December 31, 2015 202,500 $ 26.20 Granted during 2016 4,973,214 1.63 Exchanged during 2016 (4,973,214 ) 1.63 Expired during 2016 (22,500 ) 100.00 Outstanding and exercisable as of December 31, 2016 180,000 $ 16.87 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | Years Ended December 31, 2016 2015 Current Federal $ - $ - State - - Total current - - Deferred Federal 45,587,097 (6,521,134 ) State 8,228,412 (1,150,789 ) Change in valuation allowance (53,758,846 ) 7,634,360 Total deferred 56,663 (37,562 ) Provision for income taxes $ 56,663 $ (37,562 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Years Ended December 31, 2016 2015 U.S. Federal statutory rate (34.0 )% (34.0 )% State taxes (4.9 )% (6.0 )% Permanent differences 0.9 % 0.1 % Rate Change 7.6 % 0.0 % Prior year Net Operating Loss write-off (Section 382 restriction) 263.2 % 0.0 % Current year Net Operating Loss write-off 34.5 % 0.0 % Valuation allowance (267.0 )% 39.8 % Effective tax rate 0.3 % (0.1 )% |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Years Ended December 31, 2016 2015 Deferred tax assets Net operating loss carryforwards $ 2,948,281 $ 56,202,470 Stock-based compensation 2,931,251 2,426,886 Intangible assets 1,261,696 2,481,960 Debt discount 984,422 695,259 Allowance for doubtful accounts 25,281 37,145 Other 532,040 1,388,166 Total deferred tax assets 8,682,971 63,231,886 Valuation allowance (7,676,293 ) (61,340,847 ) Deferred tax assets, net of valuation allowance 1,006,678 1,891,039 Deferred tax liabilities Depreciation (1,006,678 ) (1,891,039 ) Intangible assets (420,437 ) (363,774 ) Total deferred tax liabilities (1,427,115 ) (2,254,813 ) Net deferred tax liabilities $ (420,437 ) $ (363,774 ) |
Note 14 - Fair Value Measurem36
Note 14 - Fair Value Measurement (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | Total Carrying Value Quoted prices in active markets (Level 1) Significant other o bservable i nputs (Level 2) Significant unobservable inputs (Level 3) December 31, 2016 $ 12,272,444 $ 12,272,444 $ - $ - December 31, 2015 $ 15,116,531 $ 15,116,531 $ - $ - |
Note 15 - Commitments (Tables)
Note 15 - Commitments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Ending December 31, 2017 $ 7,943,370 2018 6,318,665 2019 4,846,377 2020 2,627,912 2021 667,892 Thereafter 231,105 Total $ 22,635,322 |
Schedule of Rent Expense [Table Text Block] | Year Ended December 31, 2016 2015 Points of Presence $ 8,491,235 $ 8,180,389 Corporate offices 335,713 382,234 Other 552,177 414,618 Total $ 9,379,125 $ 8,977,241 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Years Ending December 31, 2017 $ 837,811 2018 143,796 Sub-Total 981,607 Less: Interest expense 31,895 Total capital lease obligations $ 949,712 Current $ 791,009 Long-Term $ 158,703 |
Note 1 - Organization and Nat38
Note 1 - Organization and Nature of Business (Details Textual) - Shared Wireless Business [Member] | Mar. 09, 2016 |
Asset Purchase Agreement, Term | 3 years |
Asset Purchase Agreement, Number of One Year Renewals | 2 |
Asset Purchase Agreement, Cancellation Notice | 60 days |
Asset Purchase Agreement, Renewal Term | 1 year |
Note 2 - Liquidity, Going Con39
Note 2 - Liquidity, Going Concern, and Management Plans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Cash and Cash Equivalents, at Carrying Value | $ 12,272,444 | $ 15,116,531 | $ 38,027,509 |
Working Capital | 22,600,000 | ||
Retained Earnings (Accumulated Deficit) | (176,655,227) | (156,218,731) | |
Proceeds from Issuance or Sale of Equity | 6,142,680 | ||
Debt Conversion, Original Debt, Amount | $ 5,329,736 |
Note 3 - Basis of Presentatio40
Note 3 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) | Jul. 07, 2016 | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) |
Cash, Uninsured Amount | $ 12,000,000 | ||
Cash, FDIC Insured Amount | $ 250,000 | ||
Carrying Value Of Goodwill Greater Than Fair Value Likelihood Maximum Percentage | 50.00% | ||
Goodwill, Impairment Loss | $ 0 | $ 0 | |
Advertising Expense | 245,230 | 1,058,000 | |
Long-term Debt, Excluding Current Maturities | $ 31,487,253 | 33,003,962 | |
Scenario, Previously Reported [Member] | |||
Long-term Debt, Excluding Current Maturities | 34,695,383 | ||
Scenario, Previously Reported [Member] | Other Noncurrent Assets [Member] | |||
Debt Issuance Costs, Net | $ 1,691,421 | ||
Minimum [Member] | |||
Contractual Agreements, Term | 1 year | ||
Maximum [Member] | |||
Contractual Agreements, Term | 3 years | ||
Leasehold Improvements [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Furniture and Fixtures [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Furniture and Fixtures [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Information Technology [Member] | Minimum [Member] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Information Technology [Member] | Maximum [Member] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Reverse Stock Split [Member] | |||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 20 |
Note 3 - Basis of Presentatio41
Note 3 - Basis of Presentation and Summary of Significant Accounting Policies - Antidilutive Shares Excluded from Computation of EPS (Details) - shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 12,034,389 | 419,502 |
Equity Option [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 2,106,889 | 217,002 |
Warrant [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 180,000 | 202,500 |
Series D Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 3,082,500 | |
Series E Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 500,000 | |
Series F Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 6,165,000 |
Note 4 - Discontinued Operati42
Note 4 - Discontinued Operations (Details Textual) | Mar. 09, 2016USD ($) | Mar. 31, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($) | Dec. 30, 2016USD ($) | Dec. 31, 2015USD ($) |
Disposal Group, Including Discontinued Operation, Consideration | $ 3,837,783 | |||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $ 1,177,742 | 1,177,742 | ||||
Shared Wireless Business [Member] | ||||||
Asset Purchase Agreement, Term | 3 years | |||||
Asset Purchase Agreement, Number of One Year Renewals | 2 | |||||
Asset Purchase Agreement, Cancellation Notice | 60 days | |||||
Disposal Group, Including Discontinued Operation, Assets | $ 2,660,041 | |||||
Disposal Group, Including Discontinued Operation, Consideration | $ 3,837,783 | |||||
Asset Impairment and Other Charges | 1,585,319 | |||||
Estimated Costs to Settle Lease Obligations | 453,403 | |||||
Impairment of Long-Lived Assets Held-for-use | 528,364 | |||||
Write off of Security Deposits | 110,500 | |||||
Accelerated Expensing of Deferred Acquistion Costs | $ 493,052 | |||||
Reduction in Accrual for Terminated Lease Obligations | $ 1,244,284 | |||||
Cost of Terminating Leases, Included in Infrastructure and Access | 453,403 | $ 3,284,467 | ||||
Estimated Liability Related to Lease Termination, Reduction | $ 1,557,626 | |||||
Estimated Liability Related to Lease Termination | $ 1,240,000 | |||||
Asset Purchase Agreement, Renewal Term | 1 year |
Note 4 - Discontinued Operati43
Note 4 - Discontinued Operations - Loss From Discontinued Operations (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Revenues | $ 553,302 | $ 3,370,181 |
Infrastructure and access | 965,596 | 19,292,571 |
Depreciation | 638,681 | 4,032,219 |
Network operations | 192,947 | 793,886 |
Customer support | 69,804 | 383,155 |
Sales and marketing | 246 | 145,954 |
General and administrative | 105,545 | |
Total operating expenses | 1,972,819 | 24,647,785 |
Net operating loss | (1,419,517) | (21,277,604) |
Gain on sale of assets | 1,177,742 | |
Net Loss | $ (241,775) | $ (21,277,604) |
Note 4 - Discontinued Operati44
Note 4 - Discontinued Operations - Components of Balance Sheet Accounts (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Assets: | ||
Accounts receivable, net | $ 715,993 | |
Prepaid expenses and other current assets | 231,978 | 278,891 |
Deferred acquisitions costs | 253,685 | |
Total Current Assets | 231,978 | 1,248,569 |
Liabilities: | ||
Accounts payable | 556,800 | |
Accrued expenses | 66,101 | |
Total Current Liabilities | 1,240,000 | 3,907,368 |
Network [Member] | ||
Liabilities: | ||
Accrued expenses | $ 1,240,000 | $ 3,284,467 |
Note 4 - Discontinued Operati45
Note 4 - Discontinued Operations - Assets Held for Sale (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Security deposits | $ 356,108 | |
Wi-Fi and back-end equipment, net | 4,958,999 | |
Current assets held for sale | $ 5,315,107 |
Note 5 - Property and Equipme46
Note 5 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Depreciation | $ 9,417,612 | $ 9,251,311 |
Note 5 - Property and Equipme47
Note 5 - Property and Equipment - Property and Equipment (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Property, Plant, and Equipment, Gross | $ 83,920,282 | $ 77,410,139 |
Less: accumulated depreciation | 68,667,925 | 56,174,755 |
Property and equipment, net | 15,252,357 | 21,235,384 |
Network and Base Station Equipment [Member] | ||
Property, Plant, and Equipment, Gross | 42,098,570 | 38,351,119 |
Customer Premise Equipment [Member] | ||
Property, Plant, and Equipment, Gross | 33,617,085 | 30,910,874 |
Information Technology [Member] | ||
Property, Plant, and Equipment, Gross | 4,859,875 | 4,810,865 |
Furniture and Fixtures [Member] | ||
Property, Plant, and Equipment, Gross | 1,713,430 | 1,713,722 |
Leasehold Improvements [Member] | ||
Property, Plant, and Equipment, Gross | $ 1,631,322 | $ 1,623,559 |
Note 5 - Property and Equipme48
Note 5 - Property and Equipment - Property Acquired Through Capital Leases (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Capital Leased Assets, Gross | $ 5,150,718 | $ 5,150,718 |
Less: accumulated depreciation | 4,083,274 | 3,114,968 |
Property acquired through capital leases, net | 1,067,444 | 2,035,750 |
Network and Base Station Equipment [Member] | ||
Capital Leased Assets, Gross | 2,620,898 | 2,620,898 |
Customer Premise Equipment [Member] | ||
Capital Leased Assets, Gross | 669,792 | 669,792 |
Information Technology [Member] | ||
Capital Leased Assets, Gross | $ 1,860,028 | $ 1,860,028 |
Note 6 - Goodwill and Intangi49
Note 6 - Goodwill and Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Amortization of Intangible Assets | $ 1,458,323 | $ 392,272 |
Time Warner Cable [Member] | Backhaul Agreement [Member] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years | |
Delos Internet [Member] | Customer Relationships [Member] | ||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 4 years 60 days |
Note 6 - Goodwill and Intangi50
Note 6 - Goodwill and Intangible Assets - Intangible Assets and Goodwill (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Goodwill | $ 1,674,281 | $ 1,674,281 |
Customer relationships, net | 2,902,490 | |
FCC licenses | 750,000 | 1,284,555 |
Impairment charge | (534,555) | |
FCC licenses, net | 750,000 | 750,000 |
Intangible assets, net | 3,652,490 | 1,273,030 |
Customer Relationships [Member] | ||
Customer relationships, net | 130,757 | 523,030 |
Customer relationships | 11,856,126 | 11,856,126 |
Less: accumulated amortization | 11,725,369 | 11,333,096 |
Backhaul Agreement [Member] | ||
Customer relationships, net | 2,771,733 | |
Customer relationships | 3,837,783 | |
Less: accumulated amortization | $ 1,066,050 |
Note 6 - Goodwill and Intangi51
Note 6 - Goodwill and Intangible Assets - Future Amortization Expense (Details) | Dec. 31, 2016USD ($) |
2,017 | $ 1,410,019 |
2,018 | 1,279,261 |
2,019 | 213,210 |
Total | $ 2,902,490 |
Note 7 - Accrued Expenses - Acc
Note 7 - Accrued Expenses - Accrued Expenses (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Accrued Liabilities, Current | $ 911,210 | $ 1,629,218 |
Payroll and Related [Member] | ||
Accrued Liabilities, Current | 294,006 | 551,448 |
Professional Services [Member] | ||
Accrued Liabilities, Current | 263,928 | 427,932 |
Other Accrued Liabilities [Member] | ||
Accrued Liabilities, Current | 142,492 | 339,680 |
Property and Equipment [Member] | ||
Accrued Liabilities, Current | 118,139 | 176,614 |
Network [Member] | ||
Accrued Liabilities, Current | $ 92,645 | $ 133,544 |
Note 8 - Other Long-term Liab53
Note 8 - Other Long-term Liabilities - Other Liabilities, Current and Noncurrent (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred rent | $ 641,799 | $ 1,227,414 |
Deferred taxes | 420,438 | 363,774 |
Total | $ 1,062,237 | $ 1,591,188 |
Note 9 - Long-term Debt (Detail
Note 9 - Long-term Debt (Details Textual) - USD ($) | Nov. 08, 2016 | Oct. 31, 2014 | Oct. 31, 2014 | Dec. 31, 2016 | Dec. 31, 2015 | Jul. 07, 2016 | Jun. 17, 2016 |
Debt Instrument, Unamortized Discount | $ 1,803,742 | $ 3,744,941 | |||||
Warrants and Rights Outstanding | $ 240,709 | $ 791,290 | |||||
Gain (Loss) on Extinguishment of Debt | (500,000) | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | $ 5 | |||||
Debt Conversion, Original Debt, Amount | 5,329,736 | ||||||
Increase (Decrease) in Interest Payable, Net | 1,477,926 | 1,453,347 | |||||
Amortization of Debt Issuance Costs | 1,609,588 | 2,080,125 | |||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | |||||||
Debt Conversion, Original Debt, Amount | $ 5,000,000 | ||||||
Melody Business Finance LLC [Member] | Series D Convertible Preferred Stock [Member] | |||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,000 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,000,000 | ||||||
Towerstream Investor [Member] | Melody Business Finance LLC [Member] | |||||||
Proceeds from Collection of Notes Receivable | $ 5,500,000 | ||||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | |||||||
Debt Conversion, Original Debt, Amount, Principal Portion | 4,935,834 | ||||||
Debt Conversion, Original Debt, Amount, Interest Portion | 64,166 | ||||||
Debt Instrument, Face Amount | $ 35,000,000 | $ 35,000,000 | |||||
Proceeds from Issuance of Long-term Debt | $ 33,950,000 | ||||||
Paid In Kind Interest Stated Rate | 4.00% | 4.00% | |||||
Debt Covenant, Cash and Cash Equivalents, Minimum Balance | $ 6,500,000 | ||||||
Debt Instrument Additional Interes Rate In The Event Of Default | 5.00% | 5.00% | |||||
Debt Instrument Prepayment Minimum Principal Amount | $ 5,000,000 | $ 5,000,000 | |||||
Debt Instrument, Prepayment, Integral Amounts Beyond the Minimum Principal Amount | 1,000,000 | 1,000,000 | |||||
Debt Instrument, Unamortized Discount | 6,406,971 | 6,406,971 | |||||
Warrants and Rights Outstanding | 2,463,231 | 2,463,231 | |||||
Interest Expense, Write-off of Unamortized Debt Discount | 331,609 | ||||||
Gain (Loss) on Extinguishment of Debt | (500,000) | ||||||
Debt Issuance Costs, Gross | 2,893,739 | 2,893,739 | |||||
Debt Instrument, Original Issue Discount | $ 1,050,000 | $ 1,050,000 | |||||
Debt Instrument, Original Issue Discount Rate | 3.00% | 3.00% | |||||
Debt Conversion, Original Debt, Amount | $ 5,000,000 | ||||||
Interest Expense | 4,497,945 | 4,360,042 | |||||
Interest Paid | 2,955,853 | 2,906,695 | |||||
Increase (Decrease) in Interest Payable, Net | 1,477,926 | 1,453,347 | |||||
Amortization of Debt Issuance Costs | $ 1,609,588 | $ 2,080,125 | |||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | Warrant One [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 120,000 | 120,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 25.20 | $ 25.20 | |||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | Warrant Two [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 60,000 | 60,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.20 | $ 0.20 | |||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | If Rate Is Greater Than LIBOR Rate [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 8.00% | |||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 7.00% | ||||||
Debt Instrument, Reference Rate | 0.77% |
Note 9 - Long-term Debt - Summa
Note 9 - Long-term Debt - Summary of Long-term Debt (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Principal | $ 33,290,995 | $ 36,748,903 |
Unamortized debt discount | (1,803,742) | (3,744,941) |
Total | $ 31,487,253 | $ 33,003,962 |
Note 10 - Capital Stock (Detail
Note 10 - Capital Stock (Details Textual) | Dec. 30, 2016$ / sharesshares | Dec. 19, 2016shares | Nov. 29, 2016shares | Nov. 22, 2016USD ($)$ / sharesshares | Nov. 16, 2016shares | Nov. 08, 2016USD ($)$ / sharesshares | Nov. 01, 2016USD ($)shares | Oct. 25, 2016USD ($)$ / sharesshares | Oct. 18, 2016shares | Sep. 21, 2016USD ($)$ / sharesshares | Sep. 12, 2016USD ($)$ / sharesshares | Jul. 26, 2016shares | Jul. 07, 2016USD ($)$ / sharesshares | Jun. 20, 2016USD ($)$ / sharesshares | Jun. 17, 2016$ / shares | Nov. 08, 2010$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Sep. 21, 2016USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($)$ / sharesshares | Nov. 21, 2016$ / sharesshares | Oct. 31, 2016$ / sharesshares | Aug. 21, 2015shares | Aug. 20, 2015shares |
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||||
Common Stock, Shares, Issued | 18,327,263 | 18,327,263 | 3,342,391 | |||||||||||||||||||||
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 | 200,000,000 | 200,000,000 | 95,000,000 | |||||||||||||||||||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | 5,000,000 | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | $ 5 | ||||||||||||||||||||||
Class of Warrant or Right, Warrant Term | 5 years | 5 years | ||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ | $ 5,329,736 | |||||||||||||||||||||||
Stock Issued During Period, Shares, Exchange of Warrants | 680,000 | |||||||||||||||||||||||
Adjustments to Additional Paid in Capital, Warrant Exchange | $ | $ 1,031,999 | |||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 4,000,000 | $ 24,429 | $ 42,216 | |||||||||||||||||||||
Proceeds from Issuance of Warrants | $ | 1,588,794 | |||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 2,022,372 | |||||||||||||||||||||||
Common Stock, Pre-Reverse Stock Split, Conversion, Shares | 20 | |||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 6,142,680 | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 2,962,963 | |||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 1.35 | $ 1.35 | ||||||||||||||||||||||
Maximum Value of Equity or Equity-linked Securities that May Be Sold | $ | 15,000,000 | |||||||||||||||||||||||
Share Price | $ / shares | $ 0.18 | $ 0.18 | ||||||||||||||||||||||
Underwriters' Commission, Percentage | 7.00% | 7.00% | ||||||||||||||||||||||
Payments of Stock Issuance Costs | $ | 170,264 | $ 621,720 | ||||||||||||||||||||||
Proceeds from Issuance of Common Stock, Net | $ | 3,378,280 | |||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ | $ 5,329,736 | |||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 192,966 | |||||||||||||||||||||||
Stock Issued During Period, Issued for Services, Average Price Per Share | $ / shares | $ 2.53 | |||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ | $ 488,656 | $ 488,656 | ||||||||||||||||||||||
Common Stock, Shares, Outstanding | 18,327,263 | 18,327,263 | 3,342,391 | |||||||||||||||||||||
Conversion of Series D Convertible Preferred Stock into Common Stock [Member] | ||||||||||||||||||||||||
Conversion of Stock, Shares Converted | 1,955 | 378 | ||||||||||||||||||||||
Conversion of Stock, Shares Issued | 4,750,000 | 3,228,264 | ||||||||||||||||||||||
Conversion of Series E Convertible Preferred Stock into Shares of Common Stock [Member] | ||||||||||||||||||||||||
Conversion of Stock, Shares Converted | 1,500,000 | |||||||||||||||||||||||
Conversion of Stock, Shares Issued | 1,500,000 | |||||||||||||||||||||||
Conversion of Series D Convertible Preferred Stock into Shares of Series F Convertible Preferred Stock [Member] | ||||||||||||||||||||||||
Conversion of Stock, Shares Converted | 1,233 | |||||||||||||||||||||||
Conversion of Stock, Shares Issued | 1,233 | |||||||||||||||||||||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | ||||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ | 5,000,000 | |||||||||||||||||||||||
Towerstream Investor [Member] | Melody Business Finance LLC [Member] | ||||||||||||||||||||||||
Proceeds from Collection of Notes Receivable | $ | $ 5,500,000 | |||||||||||||||||||||||
Underwriters' Commissions [Member] | ||||||||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 280,000 | |||||||||||||||||||||||
Additional Paid-in Capital [Member] | ||||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ | $ 488,463 | |||||||||||||||||||||||
Common Stock [Member] | ||||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 600,000 | $ 4,000,000 | $ 28,951 | $ 49,757 | ||||||||||||||||||||
Conversion of Stock, Shares Converted | 378 | |||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 2,280,000 | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 444,444 | 2,962,963 | ||||||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 71,850 | $ 621,720 | $ 43,750 | |||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 192,966 | |||||||||||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ | $ 193 | |||||||||||||||||||||||
Private Placement [Member] | ||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 223,214 | 750,000 | ||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | $ 5 | ||||||||||||||||||||||
Class of Warrant or Right, Warrant Term | 5 years | 5 years | ||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ | $ 1,193,844 | $ 2,236,250 | ||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | 1,677,188 | |||||||||||||||||||||||
Proceeds from Issuance of Warrants | $ | 229,895 | 559,062 | ||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 1,250,000 | $ 2,280,000 | ||||||||||||||||||||||
Equity Units Issued During the Period, Number | 892,857 | 750,000 | ||||||||||||||||||||||
Sale of Equity Units, Price Per Unit | $ / shares | $ 1.40 | $ 3.04 | ||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 750,000 | |||||||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 56,156 | $ 43,750 | ||||||||||||||||||||||
Over-Allotment Option [Member] | ||||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 600,000 | |||||||||||||||||||||||
Underwriters' Commission, Percentage | 7.00% | |||||||||||||||||||||||
Proceeds from Issuance of Common Stock, Net | $ | $ 528,150 | |||||||||||||||||||||||
Over-Allotment Option [Member] | Common Stock [Member] | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 444,444 | |||||||||||||||||||||||
Common Stock Shares Authorized, Underwriter Option | 444,444 | |||||||||||||||||||||||
Sale of Stock, Price Per Share | $ / shares | $ 1.35 | |||||||||||||||||||||||
Share Price | $ / shares | $ 1.35 | |||||||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 71,850 | |||||||||||||||||||||||
Over-Allotment Option [Member] | Common Stock [Member] | Underwriters' Commissions [Member] | ||||||||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 42,000 | |||||||||||||||||||||||
Minimum [Member] | Common Stock [Member] | ||||||||||||||||||||||||
Share Price | $ / shares | $ 0.50 | |||||||||||||||||||||||
Preferred Share Purchase Rights [Member] | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 18 | |||||||||||||||||||||||
Preferred Stock, Redemption Price Per Share | $ / shares | $ 0.001 | |||||||||||||||||||||||
Preferred Share Purchase Rights [Member] | Minimum [Member] | ||||||||||||||||||||||||
Common Stock, Stock Acquisition, Rate | 15.00% | |||||||||||||||||||||||
Preferred Share Purchase Rights [Member] | Maximum [Member] | ||||||||||||||||||||||||
Exchange Offer Of Common Stock | 15.00% | |||||||||||||||||||||||
Warrants Issued for Conversion of Senior Secured Debt [Member] | Melody Business Finance LLC [Member] | ||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,000,000 | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.34 | |||||||||||||||||||||||
Class of Warrant or Right, Warrant Term | 5 years | |||||||||||||||||||||||
Series A Preferred Stock [Member] | ||||||||||||||||||||||||
Preferred Stock, Shares Authorized | 350,000 | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | |||||||||||||||||||||
Series A Preferred Stock [Member] | Preferred Share Purchase Rights [Member] | ||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.01 | |||||||||||||||||||||||
Series B Convertible Preferred Stock [Member] | ||||||||||||||||||||||||
Conversion of Stock, Shares Converted | 446,429 | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | |||||||||||||||||||||
Series B Convertible Preferred Stock [Member] | Private Placement [Member] | ||||||||||||||||||||||||
Convertible Preferred Stock, Common Shares Issued upon Conversion of All Preferred Shares | 446,429 | |||||||||||||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 963,949 | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 892,857 | |||||||||||||||||||||||
Series C Convertible Preferred Stock [Member] | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Exchange of Warrants | 680,000 | 680,000 | ||||||||||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | |||||||||||||||||||||
Series C Convertible Preferred Stock [Member] | Preferred Stock [Member] | ||||||||||||||||||||||||
Stock Issued During Period, Value, Warrant Exchanges | $ / shares | $ 680 | |||||||||||||||||||||||
Series C Convertible Preferred Stock [Member] | Additional Paid-in Capital [Member] | ||||||||||||||||||||||||
Adjustments to Additional Paid in Capital, Warrant Exchange | $ | $ 1,031,319 | |||||||||||||||||||||||
Series D Convertible Preferred Stock [Member] | ||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net | $ | $ 827,635 | |||||||||||||||||||||||
Convertible Preferred Stock, Beneficial Conversion Feature | $ | $ 346,745 | $ 1,375,000 | ||||||||||||||||||||||
Convertible Preferred Stock, Conversion Price, Percentage of Volume-weighted Average Price of Common Stock | 5500.00% | |||||||||||||||||||||||
Convertible Preferred Stock, Conversion Price, Minimum Volume-weighted Average Price Used in Computation | $ / shares | $ 0.644 | |||||||||||||||||||||||
Convertible Preferred Stock, Maximum Beneficial Ownership Percentage of Common Stock Upon Conversion | 9.99% | |||||||||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 5.5 | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 3,421 | 1,233 | 1,233 | 0 | 622 | |||||||||||||||||||
Stock Issued During Period, Shares, Stock Splits | 2,799 | |||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 1,000 | $ 5,500 | $ 5,500 | |||||||||||||||||||||
Convertible Preferred Stock, Conversion Price Per Common Share, Percentage of Prior Day's Closing Bid | 75.00% | |||||||||||||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 1,000,000 | $ 3,740,942 | ||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,000 | |||||||||||||||||||||||
Share Price | $ / shares | $ 1,000 | |||||||||||||||||||||||
Equity Restrictions, Stated Value of Convertible Preferred Stock Outstanding, Threshold | $ | $ 2,000,000 | |||||||||||||||||||||||
Percentage of Equity Financings in Which the Holders of Convertible Preferred Stock Have the Right to Participate | 100.00% | |||||||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 172,366 | |||||||||||||||||||||||
Series D Convertible Preferred Stock [Member] | Melody Business Finance LLC [Member] | ||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,000 | |||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 4,000,000 | |||||||||||||||||||||||
Series D Convertible Preferred Stock [Member] | Minimum [Member] | ||||||||||||||||||||||||
Convertible Preferred Stock, Conversion Price | $ / shares | $ 0.40 | |||||||||||||||||||||||
Series E Convertible Preferred Stock [Member] | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Exchange of Warrants | 2,000,000 | |||||||||||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||||||||||||||||||||||
Convertible Preferred Stock, Maximum Beneficial Ownership Percentage of Common Stock Upon Conversion | 9.99% | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 500,000 | 500,000 | 0 | |||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | |||||||||||||||||||||||
Series F Convertible Preferred Stock [Member] | ||||||||||||||||||||||||
Convertible Preferred Stock, Conversion Price, Percentage of Five-day Volume-weighted Average Price of Common Stock | 90.00% | |||||||||||||||||||||||
Convertible Preferred Stock, Conversion Price, Conversion Floor | $ / shares | $ 0.20 | |||||||||||||||||||||||
Convertible Preferred Stock, Maximum Beneficial Ownership Percentage of Common Stock Upon Conversion | 9.99% | |||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 1,233 | 1,233 | 0 | |||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 1,000 |
Note 10 - Capital Stock - Prefe
Note 10 - Capital Stock - Preferred Stock Designated, Issued and Outstanding (Details) - shares | Dec. 31, 2016 | Dec. 31, 2015 |
Series A Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares designated (in shares) | 350,000 | |
Series B Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares designated (in shares) | 892,857 | |
Series C Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares designated (in shares) | 680,000 | |
Series D Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 1,233 | 0 |
Preferred stock, shares designated (in shares) | 4,421 | |
Series E Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 500,000 | 0 |
Preferred stock, shares designated (in shares) | 2,000,000 | |
Series F Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 1,233 | 0 |
Preferred stock, shares designated (in shares) | 1,233 | |
Series A, B, C, D, E, and F Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 502,466 | 0 |
Preferred stock, shares designated (in shares) | 3,928,511 |
Note 10 - Capital Stock - Pre58
Note 10 - Capital Stock - Preferred Stock Designated, Issued and Outstanding (Details) (Parentheticals) - shares | Dec. 31, 2016 | Nov. 22, 2016 | Nov. 21, 2016 | Dec. 31, 2015 |
Series A Preferred Stock [Member] | ||||
Preferred stock, shares outstanding (in shares) | 0 | 0 | ||
Series B Convertible Preferred Stock [Member] | ||||
Preferred stock, shares outstanding (in shares) | 0 | 0 | ||
Series C Convertible Preferred Stock [Member] | ||||
Preferred stock, shares outstanding (in shares) | 0 | 0 | ||
Series D Convertible Preferred Stock [Member] | ||||
Preferred stock, shares outstanding (in shares) | 1,233 | 3,421 | 622 | 0 |
Series E Convertible Preferred Stock [Member] | ||||
Preferred stock, shares outstanding (in shares) | 500,000 | 0 | ||
Series F Convertible Preferred Stock [Member] | ||||
Preferred stock, shares outstanding (in shares) | 1,233 | 0 | ||
Series A, B, C, D, E, and F Preferred Stock [Member] | ||||
Preferred stock, shares outstanding (in shares) | 502,466 | 0 |
Note 11 - Stock Option Plans 59
Note 11 - Stock Option Plans and Warrants (Details Textual) - USD ($) | Feb. 04, 2017 | Sep. 12, 2016 | Jul. 07, 2016 | Jun. 17, 2016 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Feb. 28, 2017 | Sep. 30, 2016 | Dec. 31, 2014 | Nov. 30, 2013 | Nov. 30, 2012 | Aug. 31, 2008 | May 31, 2007 |
Class of Warrant or Right, Weighted Warrants Exercisable, Average Remaining Contractual Life | 5 years 109 days | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | $ 0 | $ 0 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,938,249 | 43,938 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.74 | $ 0.68 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | 2,106,889 | 2,106,889 | 2,106,889 | 217,002 | 199,885 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | $ 5.30 | $ 5.30 | $ 5.30 | $ 52.20 | $ 54.60 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term | 9 years 146 days | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number | 927,520 | 927,520 | 927,520 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 10.24 | $ 10.24 | $ 10.24 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 0 | $ 0 | $ 0 | ||||||||||||
Share Price | $ 0.18 | $ 0.18 | $ 0.18 | ||||||||||||
Class of Warrant or Right, Issued During Period | 223,214 | 750,000 | |||||||||||||
Class of Warrant or Right, Warrant Term | 5 years | 5 years | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | $ 5 | |||||||||||||
Class of Warrant or Right, Exercisable Period, from Date of Issuance | 6 years | ||||||||||||||
Warrants and Rights Outstanding | $ 240,709 | $ 791,290 | |||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||
Class of Warrant or Right, Exchanged During Period | 973,214 | 4,973,214 | |||||||||||||
Stock Issued During Period, Shares, Exchange of Warrants | 680,000 | ||||||||||||||
Warrant [Member] | |||||||||||||||
Fair Value Assumptions, Risk Free Interest Rate | 0.97% | 1.17% | |||||||||||||
Fair Value Assumptions, Expected Term | 5 years | 5 years | |||||||||||||
Fair Value Assumptions, Expected Volatility Rate | 78.00% | 81.00% | |||||||||||||
Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||
Director [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 294,999 | 10,000 | |||||||||||||
Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 452,500 | 11,563 | |||||||||||||
Employee [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,108,250 | 22,375 | |||||||||||||
Non-employee [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 82,500 | ||||||||||||||
Maximum [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | 105 | 105 | $ 105 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | 105 | 105 | 105 | ||||||||||||
Minimum [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | 0.24 | 0.24 | 0.24 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price | $ 0.24 | $ 0.24 | $ 0.24 | ||||||||||||
Subsequent Event [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,189,987 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||
The 2008 Directors Plan [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 23,875 | 23,875 | 23,875 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 100,000 | 50,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 76,125 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||
The 2016 Equity Incentive Plan [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,805,499 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 1,435,000 | 1,435,000 | 1,435,000 | 682,000 | |||||||||||
The 2016 Equity Incentive Plan [Member] | Subsequent Event [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 2,521,347 | ||||||||||||||
The 2016 Non-employee Incentive Plan [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 250,000 | 250,000 | 250,000 | ||||||||||||
Employee Stock Option [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 38,995 | 38,995 | 38,995 | ||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ 843,779 | $ 843,779 | $ 843,779 | ||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years 328 days | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||
Employee Stock Option [Member] | Director [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||||||||
Employee Stock Option [Member] | General and Administrative Expense [Member] | |||||||||||||||
Allocated Share-based Compensation Expense | $ 1,024,955 | $ 1,016,705 | |||||||||||||
Employee Stock Option [Member] | Maximum [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||
Employee Stock Option [Member] | Maximum [Member] | Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | ||||||||||||||
Employee Stock Option [Member] | Maximum [Member] | Employee [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||||||||
Employee Stock Option [Member] | Maximum [Member] | Non-employee [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||||||||
Employee Stock Option [Member] | Minimum [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 5 years | ||||||||||||||
Employee Stock Option [Member] | Minimum [Member] | Executive Officer [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||||||||
Employee Stock Option [Member] | Minimum [Member] | Employee [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | ||||||||||||||
Employee Stock Option [Member] | Minimum [Member] | Non-employee [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 180 days | ||||||||||||||
Employee Stock Option [Member] | The 2007 Plan [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 120,196 | 120,196 | 120,196 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 88,715 | ||||||||||||||
Employee Stock Option [Member] | The 2007 Incentive Stock Plan [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 250,000 | 125,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 242,487 | ||||||||||||||
Stock Options [Member] | The 2016 Non-employee Incentive Plan [Member] | Maximum [Member] | |||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |
Note 11 - Stock Option Plans 60
Note 11 - Stock Option Plans and Warrants - Black-Scholes Option Pricing Model Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Expected life (in years) (Year) | 4 years 73 days | |
Expected dividend yield | 0.00% | 0.00% |
Minimum [Member] | ||
Risk-free interest rate | 0.90% | 1.50% |
Expected volatility | 78.00% | 58.00% |
Expected life (in years) (Year) | 4 years 36 days | |
Estimated forfeiture rates | 1.00% | 1.00% |
Maximum [Member] | ||
Risk-free interest rate | 1.80% | 1.70% |
Expected volatility | 110.00% | 77.00% |
Expected life (in years) (Year) | 4 years 73 days | |
Estimated forfeiture rates | 20.00% | 10.00% |
Note 11 - Stock Options Plans a
Note 11 - Stock Options Plans and Warrants - Option Transactions Under the Stock Option Plans (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Outstanding (in shares) | 217,002 | 199,885 |
Outstanding, weighted average exercise price (in dollars per share) | $ 52.20 | $ 54.60 |
Granted (in shares) | 1,938,249 | 43,938 |
Granted, weighted average exercise price (in dollars per share) | $ 1.22 | $ 29.20 |
Exercised (in shares) | (21,327) | |
Exercised, weighted average exercise price (in dollars per share) | $ 31.60 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 5.30 | $ 52.20 |
Exercisable (in shares) | 927,520 | |
Forfeited /expired (in shares) | (48,362) | (5,494) |
Forfeited /expired, weighted average exercise price (in dollars per share) | $ 52.38 | $ 38.80 |
Outstanding (in shares) | 2,106,889 | 217,002 |
Exercisable, weighted average exercise price (in dollars per share) | $ 10.24 |
Note 11 - Stock Option Plans 62
Note 11 - Stock Option Plans and Warrants - Grants Under Stock Option Plans (Details) - shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Granted (in shares) | 1,938,249 | 43,938 |
Director [Member] | ||
Granted (in shares) | 294,999 | 10,000 |
Executive Officer [Member] | ||
Granted (in shares) | 452,500 | 11,563 |
Employee [Member] | ||
Granted (in shares) | 1,108,250 | 22,375 |
Non-employee [Member] | ||
Granted (in shares) | 82,500 |
Note 11 - Stock Option Plans 63
Note 11 - Stock Option Plans and Warrants - Forfeited or Expired Options Under Stock Option Plans (Details) - shares | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Employee terminations (in shares) | 46,260 | 4,119 |
Expired (in shares) | 2,102 | 1,375 |
Total (in shares) | 48,362 | 5,494 |
Note 11 - Stock Option Plans 64
Note 11 - Stock Option Plans and Warrants - Summary of Warrant Activity (Details) - $ / shares | Sep. 12, 2016 | Dec. 31, 2016 |
Outstanding, number (in shares) | 202,500 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 26.20 | |
Granted, number (in shares) | 4,973,214 | |
Granted, weighted average exercise price (in dollars per share) | $ 1.63 | |
Exchanged, number (in shares) | (973,214) | (4,973,214) |
Exchanged, weighted average exercise price (in dollars per share) | $ 1.63 | |
Expired, number (in shares) | (22,500) | |
Expired, weighted average exercise price (in dollars per share) | $ 100 | |
Outstanding, number (in shares) | 180,000 | |
Outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 16.87 |
Note 12 - Employee Benefit Pr65
Note 12 - Employee Benefit Programs (Details Textual) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2016USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | |
Defined Contribution Plan, Eligibility Requirements, Minimum Age of Employees | 21 | 21 | |
Defined Contribution Plan, Eligibility Requirements, Minimum Length of Employment | 30 days | ||
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 28,952 | $ 49,757 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 | |
2010 Employee Stock Purchase Plan [Member] | |||
Percentage Of Discount Allowed For Shares Issued Under Employee Stock Purchase Plan | 15.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 25,000 | 25,000 | |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | shares | 29,807 | 2,838 | |
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 28,952 | $ 49,757 | |
Defined Contribution Plan, Cost | $ 4,523 | $ 7,541 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) | 2 Months Ended | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2016 | Dec. 31, 2015 | Nov. 09, 2016 | |
Operating Loss Carryforwards | $ 7,560,000 | $ 7,560,000 | $ 140,517,000 | $ 4,612,000 |
Taxable Income (Loss) | $ (2,948,000) | |||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (53,644,554) | 16,145,402 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense | 0 | 0 | ||
Discontinued Operations [Member] | ||||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 94,292 | $ 8,511,042 | ||
Earliest Tax Year [Member] | Domestic Tax Authority [Member] | ||||
Open Tax Year | 2,013 | |||
Latest Tax Year [Member] | Domestic Tax Authority [Member] | ||||
Open Tax Year | 2,016 |
Note 13 - Income Taxes - Provis
Note 13 - Income Taxes - Provision for Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Federal | $ 45,587,097 | $ (6,521,134) |
State | 8,228,412 | (1,150,789) |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (53,644,554) | 16,145,402 |
Total deferred | 56,663 | (37,562) |
Provision for income taxes | 56,663 | (37,562) |
Continuing Operations [Member] | ||
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ (53,758,846) | $ 7,634,360 |
Note 13 - Income Taxes - Effect
Note 13 - Income Taxes - Effective Tax Rate Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
U.S. Federal statutory rate | (34.00%) | (34.00%) |
State taxes | (4.90%) | (6.00%) |
Permanent differences | 0.90% | 0.10% |
Rate Change | 7.60% | 0.00% |
Prior year Net Operating Loss write-off (Section 382 restriction) | 263.20% | 0.00% |
Current year Net Operating Loss write-off | 34.50% | 0.00% |
Valuation allowance | (267.00%) | 39.80% |
Effective tax rate | 0.30% | (0.10%) |
Note 13 - Income Taxes - Deferr
Note 13 - Income Taxes - Deferred Tax Assets (Liabilities) (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets | ||
Net operating loss carryforwards | $ 2,948,281 | $ 56,202,470 |
Stock-based compensation | 2,931,251 | 2,426,886 |
Intangible assets | 1,261,696 | 2,481,960 |
Debt discount | 984,422 | 695,259 |
Allowance for doubtful accounts | 25,281 | 37,145 |
Other | 532,040 | 1,388,166 |
Total deferred tax assets | 8,682,971 | 63,231,886 |
Valuation allowance | (7,676,293) | (61,340,847) |
Deferred tax assets, net of valuation allowance | 1,006,678 | 1,891,039 |
Deferred tax liabilities | ||
Depreciation | (1,006,678) | (1,891,039) |
Intangible assets | (420,437) | (363,774) |
Total deferred tax liabilities | (1,427,115) | (2,254,813) |
Net deferred tax liabilities | $ (420,437) | $ (363,774) |
Note 14 - Fair Value Measurem70
Note 14 - Fair Value Measurement - Fair Value of Assets and Liabilities (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Reported Value Measurement [Member] | ||
Cash and Cash Equivalents | $ 12,272,444 | $ 15,116,531 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Cash and Cash Equivalents | $ 12,272,444 | $ 15,116,531 |
Note 15 - Commitments (Details
Note 15 - Commitments (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Apr. 30, 2016 | Dec. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2019 | Dec. 31, 2016 | Dec. 31, 2014 | |
Corporate Offices [Member] | ||||||
Annual Increase in Operating Lease Rent Expense | 3.00% | |||||
Operating Lease, Annual Rent | $ 359,750 | |||||
Lessee, Operating Lease, Renewal Term | 5 years | |||||
Corporate Offices [Member] | Scenario, Forecast [Member] | ||||||
Operating Lease, Annual Rent | $ 416,970 | |||||
Sales Center [Member] | ||||||
Annual Increase in Operating Lease Rent Expense | 3.00% | |||||
Operating Lease, Annual Rent | $ 53,130 | |||||
Lessee, Operating Lease, Term of Contract | 3 years 60 days | |||||
Lessee, Operating Lease, Renewal Term | 5 years | |||||
Security Deposit Forfeited | $ 26,648 | |||||
Termination Payment of Lease | $ 25,000 | |||||
Minimum [Member] | ||||||
Lessee, Operating Lease, Renewal Term | 1 year | |||||
Maximum [Member] | ||||||
Lessee, Operating Lease, Renewal Term | 15 years |
Note 15 - Commitments - Total F
Note 15 - Commitments - Total Future Operating Lease Obligations (Details) | Dec. 31, 2016USD ($) |
2,017 | $ 7,943,370 |
2,018 | 6,318,665 |
2,019 | 4,846,377 |
2,020 | 2,627,912 |
2,021 | 667,892 |
Thereafter | 231,105 |
Total | $ 22,635,322 |
Note 15 - Commitments - Rent Ex
Note 15 - Commitments - Rent Expenses (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Lease and Rental Expense | $ 9,379,125 | $ 8,977,241 |
Points of Presence [Member] | ||
Lease and Rental Expense | 8,491,235 | 8,180,389 |
Corporate Offices [Member] | ||
Lease and Rental Expense | 335,713 | 382,234 |
Other Leased Property [Member] | ||
Lease and Rental Expense | $ 552,177 | $ 414,618 |
Note 15 - Commitments - Total74
Note 15 - Commitments - Total Future Capital Lease Obligations (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
2,017 | $ 837,811 | |
2,018 | 143,796 | |
Sub-Total | 981,607 | |
Less: Interest expense | 31,895 | |
Total capital lease obligations | 949,712 | |
Current | 791,009 | $ 992,690 |
Long-Term | $ 158,703 | $ 932,826 |
Note 16 - Subsequent Events (De
Note 16 - Subsequent Events (Details Textual) - USD ($) | Feb. 04, 2017 | Feb. 01, 2017 | Jan. 24, 2017 | Jan. 09, 2017 | Mar. 03, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.22 | $ 29.20 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,938,249 | 43,938 | |||||
Subsequent Event [Member] | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.17 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,189,987 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 100.00% | ||||||
Subsequent Event [Member] | Series E Convertible Preferred Stock Convert to Common Stock [Member] | |||||||
Conversion of Stock, Shares Issued | 500,000 | ||||||
Conversion of Stock, Shares Converted | 500,000 | ||||||
Subsequent Event [Member] | Series F Convertible Preferred Stock Convert to Common Stock [Member] | |||||||
Conversion of Stock, Shares Issued | 1,950,000 | ||||||
Conversion of Stock, Shares Converted | 390 | ||||||
Subsequent Event [Member] | Chief Executive Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 500,653 | ||||||
Subsequent Event [Member] | Board of Directors Chairman [Member] | |||||||
Employment Agreement, Term | 90 days | ||||||
Employment Agreement, Monthly Salary | $ 12,500 | ||||||
Employment Agreement, Monthly Car Allowance | $ 1,000 | ||||||
Subsequent Event [Member] | Chief Operating Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 439,008 | ||||||
Subsequent Event [Member] | Chief Financial Officer [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 250,326 | ||||||
Stock Options, Employment Agreement [Member] | Subsequent Event [Member] | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.17 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,037,085 | ||||||
Stock Options, Employment Agreement [Member] | Subsequent Event [Member] | Vest on January 24, 2018 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 940,193 | ||||||
Stock Options, Employment Agreement [Member] | Subsequent Event [Member] | Vest in Eight Quarterly Installments During the Twenty-four Months Ending January 24, 2020 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 626,795 | ||||||
Stock Options, Employment Agreement [Member] | Subsequent Event [Member] | Vest Upon the Achievement of Three Consecutive Quarters of Positive Cash Flow [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 548,446 | ||||||
Stock Options, Employment Agreement [Member] | Subsequent Event [Member] | Vest Upon Sale of Earth Station Assets in Miami, Florida for Gross Proceeds Equal to or Greater than $15,000,000 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 548,446 | ||||||
Stock Options, Employment Agreement [Member] | Subsequent Event [Member] | Chief Executive Officer [Member] | |||||||
Employment Agreement, Term | 1 year 180 days | ||||||
Employment Agreement, Automatic Renewal Term | 1 year |
Note 17 - Restatement (Details
Note 17 - Restatement (Details Textual) | Jun. 25, 2017USD ($) |
Subsequent Event [Member] | Reclassification from Long-term Debt to Current Liabilities [Member] | Twelve Months Ended December 31, 2016 [Member] | |
Prior Period Reclassification Adjustment | $ 31,487,253 |
Uncategorized Items - twer-2016
Label | Element | Value |
twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForReductionOfDebt | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForReductionOfDebt | $ 5,329,736 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | |
Issuance of Convertible Preferred Stock in exchange for certain outstanding warrants | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForOutstandingWarrants | |
Issuance of Convertible Preferred Stock in exchange for certain outstanding warrants | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForOutstandingWarrants | |
Recognition on November 8, 2016 of beneficial conversion feature of $1,375,000 related to the modification of the conversion terms of Series D Convertible Preferred Stock and recorded as a deemed dividend | us-gaap_AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature | |
Recognition on November 8, 2016 of beneficial conversion feature of $1,375,000 related to the modification of the conversion terms of Series D Convertible Preferred Stock and recorded as a deemed dividend | us-gaap_AdjustmentsToAdditionalPaidInCapitalConvertibleDebtWithConversionFeature | |
Issuance on December 30, 2016 of 1,233 shares of Series F Convertible Preferred Stock in exchange for 1,233 shares of Series D Convertible Preferred Stock | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForSharesOfADifferentSeries | |
Issuance of units consisting of shares of common stock and warrantst for gross cash proceeds, net of transaction costs | twer_StockIssuedDuringPeriodValueNewIssuesStockAndWarrants | 2,236,250 |
Issuance of units consisting of shares of common stock and warrantst for gross cash proceeds, net of transaction costs | twer_StockIssuedDuringPeriodValueNewIssuesStockAndWarrants | 1,194,737 |
Issuance on November 22, 2016 of 2,799 shares of Series D Convertible Preferred Stock in connection with a 5.5 for 1 forward split of that series of stock | twer_StockIssuedDuringPeriodValueStockSplits | |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | 3,378,280 |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | 528,150 |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | 827,635 |
Common Stock [Member] | ||
Issuance at the end of each quarter of a total of 2,838 shares of common stock at an average price of $17.53 per share for proceeds of $49,757 in connection with the employee stock purchase plan | us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan | 30 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | 446 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | 680 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | 3,228 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | 4,750 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | $ 1,500 |
Issuance of units consisting of shares of common stock and warrantst for gross cash proceeds, net of transaction costs (in shares) | twer_StockIssuedDuringPeriodSharesNewIssuesStockAndWarrants | 750,000 |
Issuance of units consisting of shares of common stock and warrantst for gross cash proceeds, net of transaction costs | twer_StockIssuedDuringPeriodValueNewIssuesStockAndWarrants | $ 750 |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | 2,963 |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | $ 444 |
Issuance at the end of each quarter of a total of 2,838 shares of common stock at an average price of $17.53 per share for proceeds of $49,757 in connection with the employee stock purchase plan (in shares) | us-gaap_StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan | 29,807 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | 446,429 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | 680,000 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | 3,228,264 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | 4,750,000 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | 1,500,000 |
Additional Paid-in Capital [Member] | ||
twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForReductionOfDebt | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForReductionOfDebt | $ 5,329,735 |
Issuance at the end of each quarter of a total of 2,838 shares of common stock at an average price of $17.53 per share for proceeds of $49,757 in connection with the employee stock purchase plan | us-gaap_StockIssuedDuringPeriodValueEmployeeStockPurchasePlan | 28,922 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | 447 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | (3,228) |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | (4,748) |
Issuance of Convertible Preferred Stock in exchange for certain outstanding warrants | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForOutstandingWarrants | (680) |
Issuance of Convertible Preferred Stock in exchange for certain outstanding warrants | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForOutstandingWarrants | (2,000) |
Issuance of units consisting of shares of common stock and warrantst for gross cash proceeds, net of transaction costs | twer_StockIssuedDuringPeriodValueNewIssuesStockAndWarrants | 2,235,500 |
Issuance of units consisting of shares of common stock and warrantst for gross cash proceeds, net of transaction costs | twer_StockIssuedDuringPeriodValueNewIssuesStockAndWarrants | 1,193,844 |
Issuance on November 22, 2016 of 2,799 shares of Series D Convertible Preferred Stock in connection with a 5.5 for 1 forward split of that series of stock | twer_StockIssuedDuringPeriodValueStockSplits | (3) |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | 3,375,317 |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | 527,706 |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | 827,634 |
Retained Earnings [Member] | ||
twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForReductionOfDebt | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForReductionOfDebt | |
Series E Preferred Stock [Member] | Preferred Stock [Member] | ||
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | (1,500) |
Issuance of Convertible Preferred Stock in exchange for certain outstanding warrants | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForOutstandingWarrants | $ 2,000 |
Issuance of Convertible Preferred Stock in exchange for certain outstanding warrants (in shares) | twer_StockIssuedDuringPeriodSharesSharesIssuedInExchangeForOutstandingWarrants | 2,000,000 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | (1,500,000) |
Series C Preferred Stock [Member] | Preferred Stock [Member] | ||
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | $ (680) |
Issuance of Convertible Preferred Stock in exchange for certain outstanding warrants | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForOutstandingWarrants | $ 680 |
Issuance of Convertible Preferred Stock in exchange for certain outstanding warrants (in shares) | twer_StockIssuedDuringPeriodSharesSharesIssuedInExchangeForOutstandingWarrants | 680,000 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | (680,000) |
Series B Preferred Stock [Member] | Preferred Stock [Member] | ||
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | $ (893) |
Issuance of units consisting of shares of common stock and warrantst for gross cash proceeds, net of transaction costs (in shares) | twer_StockIssuedDuringPeriodSharesNewIssuesStockAndWarrants | 892,857 |
Issuance of units consisting of shares of common stock and warrantst for gross cash proceeds, net of transaction costs | twer_StockIssuedDuringPeriodValueNewIssuesStockAndWarrants | $ 893 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | (892,857) |
Series F Preferred Stock [Member] | Preferred Stock [Member] | ||
Issuance on December 30, 2016 of 1,233 shares of Series F Convertible Preferred Stock in exchange for 1,233 shares of Series D Convertible Preferred Stock | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForSharesOfADifferentSeries | $ 1 |
Issuance on December 30, 2016 of 1,233 shares of Series F Convertible Preferred Stock in exchange for 1,233 shares of Series D Convertible Preferred Stock (in shares) | twer_StockIssuedDuringPeriodSharesSharesIssuedInExchangeForSharesOfADifferentSeries | 1,233 |
Series D Preferred Stock [Member] | Preferred Stock [Member] | ||
twer_StockIssuedDuringPeriodSharesSharesIssuedInExchangeForReductionOfDebt | twer_StockIssuedDuringPeriodSharesSharesIssuedInExchangeForReductionOfDebt | 1,000 |
Issuance on November 22, 2016 of 2,799 shares of Series D Convertible Preferred Stock in connection with a 5.5 for 1 forward split of that series of stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesStockSplits | 2,799 |
twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForReductionOfDebt | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForReductionOfDebt | $ 1 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock | us-gaap_StockIssuedDuringPeriodValueConversionOfConvertibleSecurities | (2) |
Issuance on December 30, 2016 of 1,233 shares of Series F Convertible Preferred Stock in exchange for 1,233 shares of Series D Convertible Preferred Stock | twer_StockIssuedDuringPeriodValueSharesIssuedInExchangeForSharesOfADifferentSeries | (1) |
Issuance on November 22, 2016 of 2,799 shares of Series D Convertible Preferred Stock in connection with a 5.5 for 1 forward split of that series of stock | twer_StockIssuedDuringPeriodValueStockSplits | $ 3 |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs (in shares) | us-gaap_StockIssuedDuringPeriodSharesNewIssues | 1,000 |
Issuance on December 30, 2016 of 1,233 shares of Series F Convertible Preferred Stock in exchange for 1,233 shares of Series D Convertible Preferred Stock (in shares) | twer_StockIssuedDuringPeriodSharesSharesIssuedInExchangeForSharesOfADifferentSeries | (1,233) |
Issuance of shares of common stock for gross cash proceeds, net of transaction costs | us-gaap_StockIssuedDuringPeriodValueNewIssues | $ 1 |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | (378) |
Issuance of shares of common stock in connection with the conversion of shares of Convertible Preferred Stock (in shares) | us-gaap_StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities | (1,955) |