Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 09, 2018 | |
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 | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 394,409 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 3,884,362 | $ 7,568,982 |
Accounts receivable, net of reserves for uncollectible accounts of $177,317 and $95,884, respectively | 537,899 | 912,333 |
Prepaid expenses and other current assets | 527,557 | 242,320 |
Total Current Assets | 4,949,818 | 8,723,635 |
Property and equipment, net | 11,246,216 | 13,430,980 |
Intangible assets, net | 1,283,025 | 2,242,471 |
Goodwill | 1,674,281 | 1,674,281 |
Other assets | 426,350 | 386,047 |
Total Assets | 19,579,690 | 26,457,414 |
Current Liabilities | ||
Accounts payable | 97,015 | 1,150,861 |
Accrued expenses | 936,950 | 1,622,036 |
Accrued interest | 722,629 | |
Deferred revenues | 965,012 | 934,450 |
Current maturities of capital lease obligations | 334,286 | 382,918 |
Current liabilities of discontinued operations | 1,010,906 | 1,029,022 |
Deferred rent | 116,415 | 78,048 |
Short-term debt (callable), net of debt discounts and deferred financing costs of $100,495 and $789,287, respectively | 36,875,052 | 33,868,700 |
Total Current Liabilities | 40,335,636 | 39,788,664 |
Long-Term Liabilities | ||
Capital lease obligations, net of current maturities | 384,196 | 305,947 |
Other | 751,207 | 754,203 |
Total Long-Term Liabilities | 1,135,403 | 1,060,150 |
Total Liabilities | 41,471,039 | 40,848,814 |
Commitments (Note 16) | ||
Stockholders' Deficit | ||
Common stock, par value $0.001; 200,000,000 shares authorized; 394,409 shares issued and outstanding as of September 30, 2018 and December 31, 2017, respectively | 394 | 394 |
Additional paid-in-capital | 174,869,594 | 174,733,113 |
Accumulated deficit | (196,761,339) | (189,124,909) |
Total Stockholders' Deficit | (21,891,349) | (14,391,400) |
Total Liabilities, Series I Preferred Stock and Stockholders' Deficit | 19,579,690 | 26,457,414 |
Series I Preferred Stock [Member] | ||
Long-Term Liabilities | ||
Series I Preferred – 100 and 0 shares issued and outstanding, respectively; (Liquidation value – Note 10) | ||
Stockholders' Deficit | ||
Series I Preferred – 100 and 0 shares issued and outstanding, respectively; (Liquidation value – Note 10) | ||
Series G Convertible Preferred Stock [Member] | ||
Long-Term Liabilities | ||
Series I Preferred – 100 and 0 shares issued and outstanding, respectively; (Liquidation value – Note 10) | 1 | 1 |
Stockholders' Deficit | ||
Series I Preferred – 100 and 0 shares issued and outstanding, respectively; (Liquidation value – Note 10) | 1 | 1 |
Series H Convertible Preferred Stock [Member] | ||
Long-Term Liabilities | ||
Series I Preferred – 100 and 0 shares issued and outstanding, respectively; (Liquidation value – Note 10) | 1 | 1 |
Stockholders' Deficit | ||
Series I Preferred – 100 and 0 shares issued and outstanding, respectively; (Liquidation value – Note 10) | $ 1 | $ 1 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Accounts receivable, reserves for uncollectable accounts | $ 177,317 | $ 95,884 |
Debt discount, current | $ 100,495 | $ 789,287 |
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) | 394,409 | 394,409 |
Common stock, outstanding (in shares) | 394,409 | 394,409 |
Series I Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 100 | 0 |
Preferred stock, shares outstanding (in shares) | 100 | 0 |
Series G Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 538 | 538 |
Preferred stock, shares outstanding (in shares) | 538 | 538 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, liquidation value | $ 538,000 | $ 538,000 |
Series H Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 501 | 501 |
Preferred stock, shares outstanding (in shares) | 501 | 501 |
Preferred stock, liquidation value | $ 501,000 | $ 501,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues | $ 6,105,451 | $ 6,555,009 | $ 18,768,011 | $ 19,645,143 |
Operating Expenses | ||||
Infrastructure and access | 2,765,997 | 2,637,055 | 8,211,662 | 7,968,089 |
Depreciation and amortization | 1,595,260 | 1,953,519 | 4,902,665 | 6,487,301 |
Network operations | 761,731 | 1,043,979 | 2,511,497 | 3,330,135 |
Customer support | 346,445 | 428,672 | 1,184,104 | 1,187,689 |
Sales and marketing | 431,229 | 1,130,855 | 1,564,891 | 2,972,621 |
General and administrative | 931,095 | 1,181,481 | 2,939,545 | 4,233,350 |
Total Operating Expenses | 6,831,757 | 8,375,561 | 21,314,364 | 26,179,185 |
Operating Loss | (726,306) | (1,820,552) | (2,546,353) | (6,534,042) |
Other Expense | ||||
Interest expense, net | (1,855,502) | (1,314,772) | (5,090,077) | (3,882,085) |
Total Other Expense | (1,855,502) | (1,314,772) | (5,090,077) | (3,882,085) |
Net Loss | (2,581,808) | (3,135,324) | (7,636,430) | (10,416,127) |
Deemed dividend to Series D and Series F preferred stockholders | (1,905,570) | |||
Net loss attributable to common stockholders | $ (2,581,808) | $ (3,135,324) | $ (7,636,430) | $ (12,321,697) |
Net loss per common share – basic and diluted (in dollars per share) | $ (6.55) | $ (8.30) | $ (19.36) | $ (39.25) |
Weighted average common shares outstanding – basic and diluted (in shares) | 394,409 | 377,727 | 394,409 | 313,958 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Stockholders' Deficit (Unaudited) - 9 months ended Sep. 30, 2018 - USD ($) | Preferred Stock [Member]Series G Convertible Preferred Stock [Member] | Preferred Stock [Member]Series H Convertible Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 538 | 501 | 394,409 | |||
Balance at Dec. 31, 2017 | $ 1 | $ 1 | $ 394 | $ 174,733,113 | $ (189,124,909) | $ (14,391,400) |
Stock based compensation for options | 136,481 | 136,481 | ||||
Net loss | (7,636,430) | (7,636,430) | ||||
Balance (in shares) at Sep. 30, 2018 | 538 | 501 | 394,409 | |||
Balance at Sep. 30, 2018 | $ 1 | $ 1 | $ 394 | $ 174,869,594 | $ (196,761,339) | $ (21,891,349) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Cash Flows From Operating Activities | ||
Net loss | $ (7,636,430) | $ (10,416,127) |
Adjustments to reconcile loss from continuing operations to net cash used in continuing operating activities: | ||
Provision for doubtful accounts | 141,000 | 87,000 |
Depreciation for property and equipment | 3,943,219 | 5,397,098 |
Amortization for intangible assets | 959,446 | 1,090,203 |
Amortization for debt discount and deferred financing costs | 688,791 | 798,450 |
Interest added to principal | 2,317,561 | 1,016,295 |
Accrued interest | (722,629) | 709,233 |
Stock-based compensation - Options | 136,481 | 874,888 |
Stock-based compensation - Employee stock purchase plan | 53 | |
Loss on the sale of property, plant and equipment | 42,152 | |
Deferred rent | (14,759) | (83,053) |
Changes in operating assets and liabilities: | ||
Accounts receivable | 233,434 | (303,526) |
Prepaid expenses and other current assets | (285,237) | (158,122) |
Other assets | (40,303) | 1,034 |
Accounts payable | (1,053,846) | (104,259) |
Accrued expenses | (771,572) | 23,612 |
Deferred revenues | 30,562 | (186,431) |
Other long-term liabilities | 50,130 | |
Total Adjustments | 5,654,430 | 9,162,475 |
Net Cash Used In Continuing Operating Activities | (1,982,000) | (1,253,652) |
Net Cash (Used In) Provided By Discontinued Operating Activities | (18,116) | 22,513 |
Net Cash Used In Operating Activities | (2,000,116) | (1,231,139) |
Cash Flows From Investing Activities | ||
Acquisitions of property and equipment | (1,314,273) | (2,089,657) |
Proceeds from the sale of property, plant and equipment | 15,000 | |
Change in security deposits | (12,925) | |
Net Cash Used In Investing Activities | (1,299,273) | (2,102,582) |
Cash Flows From Financing Activities | ||
Repayments of capital lease obligations | (385,231) | (656,257) |
Issuance of common stock under employee stock purchase plan | 305 | |
Net Cash Used In Financing Activities | (385,231) | (655,952) |
Continuing Operations | (3,666,504) | (4,012,186) |
Discontinued Operations | (18,116) | 22,513 |
Net Decrease In Cash and Cash Equivalents | (3,684,620) | (3,989,673) |
Cash and Cash Equivalents - Beginning | 7,568,982 | 12,272,444 |
Cash and Cash Equivalents - Ending | 3,884,362 | 8,282,771 |
Interest | 2,812,050 | 1,323,353 |
Income taxes | 12,794 | 15,547 |
Acquisition of property and equipment: | ||
Included in accrued expenses | 233,557 | 286,657 |
Included in capital leases | 414,848 | 322,606 |
Interest added to principal | $ 2,317,561 | $ 1,016,295 |
Note 1 - Organization and Natur
Note 1 - Organization and Nature of Business | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | Note 1. Towerstream Corporation (referred to as “Towerstream” or the “Company”) was incorporated in Delaware in December 1999. first five |
Note 2 - Liquidity, Going Conce
Note 2 - Liquidity, Going Concern, and Management Plans | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Liquidity and Management Plans [Text Block] | Note 2. The accompanying condensed 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 September 30, 2018, $3.9 $35.4 September 30, 2018, $196.8 one not The Company has monitored and reduced certain of its operating costs over the course of 2017 first nine 2018. no no may no In March 2018, no not In May 2018, $2,000,000 8 , Short-Term Debt $1,000,000 $1,000,000 $45,000,000 $55,000,000. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 3. Basis of Presentation. 10 10 X not September 30, 2018 three nine September 30, 2018 not These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10 December 31, 2017. 10 December 31, 2017, 10 Retroactive Adjustment for Reverse Stock Split. September 29, 2017, one seventy-five 2017 Use of Estimates. Concentration of Credit Risk. may September 30, 2018, $3.6 $250,000. Intrinsic Value of Stock Options and Warrants Goodwill not fourth may not No 50 no three nine September 30, 2018. Recent Accounting Pronouncements May 2014 , No. 2014 09 2014 09 ” 2014 19 one 606, 606” 606 606 January 1, 2018 14, Revenues In February 2016, No. 2016 02 2016 02” 842 2016 02 2016 02 December 15, 2018 July 2018, No. 2018 10, 842, July 2018, No. 2018 11, 842 not first 2019. 2016 02 Reclassifications. no Subsequent Events |
Note 4 - Discontinued Operation
Note 4 - Discontinued Operations | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 4. During the fourth 2015, fourth 2015 first 2016 March 9, 2016, three two one sixty $2,660,041 $3,837,783. The components of the balance sheet accounts presented as discontinued operations were as follows: September 30, 2018 December 31, 2017 Liabilities: Accrued expenses - leases $ 1,010,906 $ 1,029,022 Total Current Liabilities $ 1,010,906 $ 1,029,022 Accrued expenses represent the estimated cost of terminating the leases associated with the Hetnets business. Accordingly, disbursements associated with such activity during the period ended September 30, 2018 September 30, 2018 $18,116 $1,010,906. |
Note 5 - Property and Equipment
Note 5 - Property and Equipment, Net | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 5. Property and equipment, net is comprised of: September 30, 2018 December 31, 2017 Network and base station equipment $ 44,542,412 $ 43,573,869 Customer premise equipment 36,189,175 34,996,202 Information technology 4,886,701 4,881,332 Furniture, fixtures and other 1,715,524 1,715,524 Leasehold improvements 1,517,559 1,651,300 Accrual – equipment received not invoiced 233,557 605,646 89,084,928 87,423,873 Less: accumulated depreciation 77,838,712 73,992,893 Property and equipment, net $ 11,246,216 $ 13,430,980 Depreciation expense for the three September 30, 2018 2017 $1,275,445 $1,633,704, nine September 30, 2018 2017 $3,943,219 $5,397,098, Property acquired through capital leases included within the Company’s property and equipment consists of the following: September 30, 2018 December 31, 2017 Network and base station equipment $ 2,680,000 $ 2,629,526 Customer premise equipment 1,633,747 1,269,373 Information technology 1,860,028 1,860,028 6,173,775 5,758,927 Less: accumulated depreciation 5,013,825 4,708,697 Property acquired through capital leases, net $ 1,159,950 $ 1,050,230 |
Note 6 - Goodwill and Intangibl
Note 6 - Goodwill and Intangible Assets, Net | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | Note 6. Goodwill and intangible assets, net consist of the following: September 30, 2018 December 31, 2017 Goodwill $ 1,674,281 $ 1,674,281 Backhaul agreement 3,837,783 3,837,783 Less: accumulated amortization 3,304,758 2,345,312 Backhaul agreement, net 533,025 1,492,471 FCC licenses 750,000 750,000 Intangible assets, net $ 1,283,025 $ 2,242,471 Amortization expense for the three September 30, 2018 2017 $319,815 nine September 30, 2018 2017 $959,446 $1,090,203, 4, three not Remainder of 2018 319,815 2019 213,210 Total $ 533,025 |
Note 7 - Accrued Expenses
Note 7 - Accrued Expenses | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Accrued Liabilities Disclosure [Text Block] | Note 7. Accrued expenses consist of the following: September 30, 2018 December 31, 2017 Property and equipment $ 233,557 $ 320,043 Payroll and related 223,828 515,448 Network 213,082 188,192 Professional services 147,106 318,979 Other 119,377 279,374 Total $ 936,950 $ 1,622,036 Network represents costs incurred to provide services to the Company’s customers including tower rentals, bandwidth, troubleshooting and gear removal. |
Note 8 - Short-term Debt
Note 8 - Short-term Debt | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 8 . Short -Term Debt Short-term debt (callable) consists of the following: September 30, 2018 December 31, 2017 Principal $ 36,975,547 $ 34,657,987 Unamortized debt discount (100,495 ) (789,287 ) Total $ 36,875,052 $ 33,868,700 In October 2014, $35,000,000 $33,950,000 3% This Note accrues interest on the basis of a 360 a) A rate equal to the greater of: i) the sum of the one 7% 8% one 2.26% September 28, 2018. 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 5% may Effective January 26, 2018, October 16, 2014 March 30, 2018 ( $6,500,000 “$6,500,000 $6,500,000 $4,000,000 February 28, 2018 6.1 December 31, 2017 March 30, 2018 April 15, 2018. Effective April 15, 2018, second 6.1 June 30, 2018. June 30, 2018 ( $6,500,000 $6,500,000 $3,000,000 October 16, 2019 December 31, 2018 ( On May 24, 2018, May 31, 2018 April 30, 2018 May 15, 2018. Effective August 20, 2018, third 6.1 September 30, 2018. June 30, 2018 September 30, 2018 ( The Company has the option to prepay the Note in the minimum principal amount of $5,000,000 $1,000,000 not The Company recorded interest expense of $1,638,414 $1,063,851 three September 30, 2018 2017, $4,353,464 $3,048,881 nine September 30, 2018 2017, $2,035,904 $2,032,586 $2,035,904 $1,016,295 nine September 30, 2018 2017, The interest rate for the third 2018 18.09% 9.09%, 5.0%, 4.0% October 24, 2018, $1,259,532 17, Subsequent Events October 2018. The Company recorded amortization expense related to the debt discount of $199,987 $241,428 three September 30, 2018 2017, $688,791 $798,450 nine September 30, 2018 2017, |
Note 9 - Other Long-term Liabil
Note 9 - Other Long-term Liabilities | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Other Liabilities Disclosure [Text Block] | Note 9 . Other Long-Term Liabilities Other long-term liabilities consist of the following: September 30, 2018 December 31, 2017 Deferred rent $ 364,479 $ 417,605 Deferred taxes 336,598 336,598 Deferred revenues 50,130 - Total $ 751,207 $ 754,203 |
Note 10 - Capital Stock
Note 10 - Capital Stock | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 10. On May 24, 2018, 2,400 1:20 1:75 July 2016 September 2017) 100 no Shares of Series I Preferred Stock are not In the event of a liquidation or fundamental transaction, a holder of Series I Preferred Stock shall be redeemed and shall be entitled to receive, per share of Series I Preferred Stock, in cash out of the assets of the Company, whether from capital or from earnings available for distribution to its shareholders (the “Liquidation Funds”), a one x $1,025,437 $2 2018 25% All shares of capital stock of the Company (when and if issued), except for shares of Series G Convertible Preferred Stock and shares of Series H Convertible Preferred Stock outstanding as of May 24, 2018, Holders of the Series I Preferred Stock shall have no one The Series I Preferred Stock was accounted for under Section 480 10 S99 480 No. 2009 04 2009 04” 2009 04, not |
Note 11 - Stock Options and War
Note 11 - Stock Options and Warrants | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 11. Stock Options The Company uses the Black-Scholes option pricing model to value options issued 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 compensation expense and the weighted average assumptions used to calculate the fair values of stock options granted during the periods indicated were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Risk-free interest rate - - 2.7% 1.6% - 1.7% Expected volatility - - 105% 110% - 113% Expected life (in years) - - 4.2% 4.2 Expected dividend yield - - - - Estimated forfeiture rates 20% 20% 20% 20% Weighted average per share grant date fair value - - $1.76 $9.65 Stock-based compensation $24,914 $207,064 $136,481 $874,888 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 reflected the fact that the Company has not not $88,186 September 30, 2018 1.2 Option transactions under the stock option plans during the nine September 30, 2018 Number Weighted Average Exercise Price Outstanding as of January 1, 2018 76,601 $ 117.42 Granted during 2018 102 2.40 Exercised - - Cancelled /expired (3,870 ) 132.12 Outstanding as of September 30, 2018 72,833 $ 116.51 Exercisable as of September 30, 2018 51,221 $ 159.16 Grants under the stock option plans during the nine September 30, 2018 102 Options granted during the reporting period had a term of ten one $180 nine September 30, 2018. Cancellations for the nine September 30, 2018 3,730 140 The weighted average remaining contractual life of the outstanding options as of September 30, 2018 8.2 The intrinsic value associated with the options outstanding was $63 September 30, 2018. $17 September 30, 2018. September 28, 2018 $3.02 Stock Warrants Warrant transactions during the nine September 30, 2018 Number Weighted Average Exercise Price Outstanding as of January 1, 2018 2,400 $ 1,265.25 Exchanged during 2018 (2,400 ) 1,265.25 Outstanding and exercisable as of September 30, 2018 - $ - On May 24, 2018, 2,400 100 10, Capital Stock |
Note 12 - Employee Stock Purcha
Note 12 - Employee Stock Purchase Plan | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Employee Stock Purchase Plan Disclosure [Text Block] | Note 12. Under the Company’s 2010 15% 334 September 30, 2018. no three March 31, 2017. nine September 30, 2017, 30 $358. $53 15% nine September 30, 2017. |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurement | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | Note 13. The FASB 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 The carrying amounts of cash and cash equivalents, accounts receivable, accounts payable and accrued liabilities approximate their fair value due to their short maturities. There were no three nine September 30, 2018. |
Note 14 - Revenues
Note 14 - Revenues | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | Note 14. In May 2014 , 606, 606 606 January 1, 2018 three nine September 30, 2018 $18,993 $132,820, 606. not 606 not 2017 Revenue Recognition Generally, the Company considers all revenues as arising from contracts with customers. Revenue is recognized based on the five 606: Step 1 Step 2 not Step 3 not Step 4 one Step 5 Disaggregation of Revenue We provide fixed wireless business internet service to companies ranging from small businesses to fortune 500 no one three Deferred Revenues Customers are billed monthly in advance. Deferred revenues are recognized for that portion of monthly charges not The Company also defers installation fees billed to the customer and commission costs associated with obtaining new contracts. The installation fees and commission costs are amortized over the average contract term of new contracts. As of September 30, 2018, $132,820 $82,690 $50,130 $183,091 $119,353 $63,738 |
Note 15 - Net Loss Per Common S
Note 15 - Net Loss Per Common Share | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | Note 15. 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 or issuance of these common stock equivalents would dilute earnings per share if the Company becomes profitable in the future As of September 30, 2018 2017 Stock options 72,833 77,608 Warrants - 2,400 Series G preferred stock 71,734 98,400 Series H preferred stock 53,440 53,440 Total 198,007 231,848 |
Note 16 - Commitments
Note 16 - Commitments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 16. 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 through June 2023. one fifteen not not September 30, 2018, Remainder of 2018 $ 1,861,712 2019 6,215,654 2020 4,420,229 2021 2,501,647 2022 1,231,349 Thereafter 484,105 Total $ 16,714,696 Rent expenses were as follows: Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Points of Presence $ 2,266,238 $ 2,161,038 $ 6,711,857 $ 6,472,499 Corporate offices 59,370 105,359 183,590 281,513 Other 244,333 233,779 722,433 695,943 Total $ 2,569,941 $ 2,500,176 $ 7,617,880 $ 7,449,955 Rent expenses related to Points of Presence were included in infrastructure and access in the Company’s condensed consolidated statements of operations. Rent expense related to our corporate offices was allocated between general and administrative, sales and marketing, customer support, and network operations expense in the Company’s condensed consolidated statements of operations. Other rent expenses were included in network operations within the Company’s condensed consolidated statements of operations. In October 2017, January 1, 2018 December 31, 2024 five December 31, 2024. $183,256 2018 2.5% $213,422 2024. Capital Lease Obligations The Company has entered into capital leases to acquire property and equipment expiring through August 2020. September 30, 2018, Total Capital lease obligation: Remainder of 2018 $ 97,125 2019 388,501 2020 300,374 2021 9,523 Subtotal 795,523 Less: Interest expense 77,041 Total $ 718,482 Total Capital lease obligation: Current $ 334,286 Long-term 384,196 Total $ 718,482 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 17. On October 24, 2018, October 16, 2014. November 15, 2018 April 15, 2018 September 30, 2018 may third 8, Short-Term Debt third |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation. 10 10 X not September 30, 2018 three nine September 30, 2018 not These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10 December 31, 2017. 10 December 31, 2017, 10 |
Stockholders' Equity, Policy [Policy Text Block] | Retroactive Adjustment for Reverse Stock Split. September 29, 2017, one seventy-five 2017 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk. may September 30, 2018, $3.6 $250,000. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Intrinsic Value of Stock Options and Warrants |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill not fourth may not No 50 no three nine September 30, 2018. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements May 2014 , No. 2014 09 2014 09 ” 2014 19 one 606, 606” 606 606 January 1, 2018 14, Revenues In February 2016, No. 2016 02 2016 02” 842 2016 02 2016 02 December 15, 2018 July 2018, No. 2018 10, 842, July 2018, No. 2018 11, 842 not first 2019. 2016 02 |
Reclassification, Policy [Policy Text Block] | Reclassifications. no |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events |
Note 4 - Discontinued Operati_2
Note 4 - Discontinued Operations (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Discontinued Operation, Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | September 30, 2018 December 31, 2017 Liabilities: Accrued expenses - leases $ 1,010,906 $ 1,029,022 Total Current Liabilities $ 1,010,906 $ 1,029,022 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment, Net (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 2018 December 31, 2017 Network and base station equipment $ 44,542,412 $ 43,573,869 Customer premise equipment 36,189,175 34,996,202 Information technology 4,886,701 4,881,332 Furniture, fixtures and other 1,715,524 1,715,524 Leasehold improvements 1,517,559 1,651,300 Accrual – equipment received not invoiced 233,557 605,646 89,084,928 87,423,873 Less: accumulated depreciation 77,838,712 73,992,893 Property and equipment, net $ 11,246,216 $ 13,430,980 |
Schedule of Capital Leased Assets [Table Text Block] | September 30, 2018 December 31, 2017 Network and base station equipment $ 2,680,000 $ 2,629,526 Customer premise equipment 1,633,747 1,269,373 Information technology 1,860,028 1,860,028 6,173,775 5,758,927 Less: accumulated depreciation 5,013,825 4,708,697 Property acquired through capital leases, net $ 1,159,950 $ 1,050,230 |
Note 6 - Goodwill and Intangi_2
Note 6 - Goodwill and Intangible Assets, Net (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | September 30, 2018 December 31, 2017 Goodwill $ 1,674,281 $ 1,674,281 Backhaul agreement 3,837,783 3,837,783 Less: accumulated amortization 3,304,758 2,345,312 Backhaul agreement, net 533,025 1,492,471 FCC licenses 750,000 750,000 Intangible assets, net $ 1,283,025 $ 2,242,471 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Remainder of 2018 319,815 2019 213,210 Total $ 533,025 |
Note 7 - Accrued Expenses (Tabl
Note 7 - Accrued Expenses (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | September 30, 2018 December 31, 2017 Property and equipment $ 233,557 $ 320,043 Payroll and related 223,828 515,448 Network 213,082 188,192 Professional services 147,106 318,979 Other 119,377 279,374 Total $ 936,950 $ 1,622,036 |
Note 8 - Short-term Debt (Table
Note 8 - Short-term Debt (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30, 2018 December 31, 2017 Principal $ 36,975,547 $ 34,657,987 Unamortized debt discount (100,495 ) (789,287 ) Total $ 36,875,052 $ 33,868,700 |
Note 9 - Other Long-term Liab_2
Note 9 - Other Long-term Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Other Liabilities [Table Text Block] | September 30, 2018 December 31, 2017 Deferred rent $ 364,479 $ 417,605 Deferred taxes 336,598 336,598 Deferred revenues 50,130 - Total $ 751,207 $ 754,203 |
Note 11 - Stock Options and W_2
Note 11 - Stock Options and Warrants (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Risk-free interest rate - - 2.7% 1.6% - 1.7% Expected volatility - - 105% 110% - 113% Expected life (in years) - - 4.2% 4.2 Expected dividend yield - - - - Estimated forfeiture rates 20% 20% 20% 20% Weighted average per share grant date fair value - - $1.76 $9.65 Stock-based compensation $24,914 $207,064 $136,481 $874,888 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number Weighted Average Exercise Price Outstanding as of January 1, 2018 76,601 $ 117.42 Granted during 2018 102 2.40 Exercised - - Cancelled /expired (3,870 ) 132.12 Outstanding as of September 30, 2018 72,833 $ 116.51 Exercisable as of September 30, 2018 51,221 $ 159.16 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number Weighted Average Exercise Price Outstanding as of January 1, 2018 2,400 $ 1,265.25 Exchanged during 2018 (2,400 ) 1,265.25 Outstanding and exercisable as of September 30, 2018 - $ - |
Note 15 - Net Loss Per Common_2
Note 15 - Net Loss Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | As of September 30, 2018 2017 Stock options 72,833 77,608 Warrants - 2,400 Series G preferred stock 71,734 98,400 Series H preferred stock 53,440 53,440 Total 198,007 231,848 |
Note 16 - Commitments (Tables)
Note 16 - Commitments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Remainder of 2018 $ 1,861,712 2019 6,215,654 2020 4,420,229 2021 2,501,647 2022 1,231,349 Thereafter 484,105 Total $ 16,714,696 |
Schedule of Rent Expense [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2018 2017 2018 2017 Points of Presence $ 2,266,238 $ 2,161,038 $ 6,711,857 $ 6,472,499 Corporate offices 59,370 105,359 183,590 281,513 Other 244,333 233,779 722,433 695,943 Total $ 2,569,941 $ 2,500,176 $ 7,617,880 $ 7,449,955 |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Total Capital lease obligation: Remainder of 2018 $ 97,125 2019 388,501 2020 300,374 2021 9,523 Subtotal 795,523 Less: Interest expense 77,041 Total $ 718,482 Total Capital lease obligation: Current $ 334,286 Long-term 384,196 Total $ 718,482 |
Note 2 - Liquidity, Going Con_2
Note 2 - Liquidity, Going Concern, and Management Plans (Details Textual) - USD ($) | 1 Months Ended | |||||
May 31, 2018 | Sep. 30, 2018 | May 24, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 3,884,362 | $ 7,568,982 | $ 8,282,771 | $ 12,272,444 | ||
Working Capital | (35,400,000) | |||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (196,761,339) | $ (189,124,909) | ||||
Management Incentive Plan, Cash Bonuses, Potential Payout Amount | $ 2,000,000 | $ 2,000,000 | ||||
Management Incentive Plan, Cash Bonuses, Payout Upon Triggering Sale | 1,000,000 | |||||
Management Incentive Plan, Cash Bonuses, Additional Payout Earned Proportionately for Triggering Sale | 1,000,000 | |||||
Minimum [Member] | ||||||
Management Incentive Plan, Cash Bonuses, Triggering Sales Amount | 45,000,000 | |||||
Maximum [Member] | ||||||
Management Incentive Plan, Cash Bonuses, Triggering Sales Amount | $ 55,000,000 |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Details Textual) | Sep. 29, 2017 | Sep. 30, 2017 | Jul. 31, 2016 | Sep. 30, 2018USD ($) |
Cash, Uninsured Amount | $ 3,600,000 | |||
Cash, FDIC Insured Amount | $ 250,000 | |||
Reverse Stock Split [Member] | ||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 75 | 75 | 20 |
Note 4 - Discontinued Operati_3
Note 4 - Discontinued Operations (Details Textual) | Mar. 09, 2016USD ($) | Sep. 30, 2018USD ($) |
Disposal Group, Including Discontinued Operation, Change to Accrued Liabilities, Current | $ 18,116 | |
Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current | $ 1,010,906 | |
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, Total | $ 2,660,041 | |
Disposal Group, Including Discontinued Operation, Consideration | $ 3,837,783 |
Note 4 - Discontinued Operati_4
Note 4 - Discontinued Operations - Components of Balance Sheet Accounts (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current | $ 1,010,906 | |
Total Current Liabilities | 1,010,906 | $ 1,029,022 |
Network [Member] | ||
Disposal Group, Including Discontinued Operation, Accrued Liabilities, Current | $ 1,010,906 | $ 1,029,022 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment, Net (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Depreciation, Total | $ 1,275,445 | $ 1,633,704 | $ 3,943,219 | $ 5,397,098 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment, Net - Property and Equipment (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Property, Plant, and Equipment, Gross | $ 89,084,928 | $ 87,423,873 |
Less: accumulated depreciation | 77,838,712 | 73,992,893 |
Property and equipment, net | 11,246,216 | 13,430,980 |
Network and Base Station Equipment [Member] | ||
Property, Plant, and Equipment, Gross | 44,542,412 | 43,573,869 |
Customer Premise Equipment [Member] | ||
Property, Plant, and Equipment, Gross | 36,189,175 | 34,996,202 |
Information Technology [Member] | ||
Property, Plant, and Equipment, Gross | 4,886,701 | 4,881,332 |
Furniture and Fixtures [Member] | ||
Property, Plant, and Equipment, Gross | 1,715,524 | 1,715,524 |
Leasehold Improvements [Member] | ||
Property, Plant, and Equipment, Gross | 1,517,559 | 1,651,300 |
Equipment Received but Not Invoiced [Member] | ||
Property, Plant, and Equipment, Gross | $ 233,557 | $ 605,646 |
Note 5 - Property and Equipme_5
Note 5 - Property and Equipment, Net - Property Acquired Through Capital Leases (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Capital Leased Assets, Gross | $ 6,173,775 | $ 5,758,927 |
Less: accumulated depreciation | 5,013,825 | 4,708,697 |
Property acquired through capital leases, net | 1,159,950 | 1,050,230 |
Network and Base Station Equipment [Member] | ||
Capital Leased Assets, Gross | 2,680,000 | 2,629,526 |
Customer Premise Equipment [Member] | ||
Capital Leased Assets, Gross | 1,633,747 | 1,269,373 |
Information Technology [Member] | ||
Capital Leased Assets, Gross | $ 1,860,028 | $ 1,860,028 |
Note 6 - Goodwill and Intangi_3
Note 6 - Goodwill and Intangible Assets, Net (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Jun. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | |
Amortization of Intangible Assets, Total | $ 319,815 | $ 319,815 | $ 959,446 | $ 1,090,203 | |
Time Warner Cable [Member] | Backhaul Agreement [Member] | |||||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 3 years |
Note 6 - Goodwill and Intangi_4
Note 6 - Goodwill and Intangible Assets, Net - Intangible Assets and Goodwill (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Goodwill | $ 1,674,281 | $ 1,674,281 |
Backhaul agreement, net | 533,025 | |
FCC licenses | 750,000 | 750,000 |
Intangible assets, net | 1,283,025 | 2,242,471 |
Backhaul Agreement [Member] | ||
Backhaul agreement | 3,837,783 | 3,837,783 |
Backhaul agreement, net | 533,025 | 1,492,471 |
Customer Relationships [Member] | ||
Less: accumulated amortization | $ 3,304,758 | $ 2,345,312 |
Note 6 - Goodwill and Intangi_5
Note 6 - Goodwill and Intangible Assets, Net - Future Amortization Expense (Details) | Sep. 30, 2018USD ($) |
Remainder of 2018 | $ 319,815 |
2,019 | 213,210 |
Total | $ 533,025 |
Note 7 - Accrued Expenses - Acc
Note 7 - Accrued Expenses - Accrued Expenses (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Accrued Liabilities, Current | $ 936,950 | $ 1,622,036 |
Property and Equipment [Member] | ||
Accrued Liabilities, Current | 233,557 | 320,043 |
Payroll and Related [Member] | ||
Accrued Liabilities, Current | 223,828 | 515,448 |
Network [Member] | ||
Accrued Liabilities, Current | 213,082 | 188,192 |
Professional Services [Member] | ||
Accrued Liabilities, Current | 147,106 | 318,979 |
Other Accrued Liabilities [Member] | ||
Accrued Liabilities, Current | $ 119,377 | $ 279,374 |
Note 8 - Short-term Debt (Detai
Note 8 - Short-term Debt (Details Textual) - USD ($) | Oct. 24, 2018 | Apr. 15, 2018 | Jan. 26, 2018 | Oct. 31, 2014 | Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 |
Amortization of Debt Issuance Costs and Discounts, Total | $ 688,791 | $ 798,450 | ||||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | ||||||||
Debt Instrument, Face Amount | $ 35,000,000 | |||||||
Proceeds from Issuance of Long-term Debt, Total | $ 33,950,000 | |||||||
Debt Instrument, Original Issue Discount Rate | 3.00% | |||||||
Paid In Kind Interest Stated Rate | 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% | |||||||
Debt Covenant, Deposit and Securities Accounts, Minimum Balance, Waived | $ 6,500,000 | $ 6,500,000 | ||||||
Debt Covenant, Deposit and Securities Accounts, Minimum Balance, Termination of Forbearance Period | $ 3,000,000 | $ 4,000,000 | ||||||
Debt Instrument Prepayment Minimum Principal Amount | $ 5,000,000 | |||||||
Debt Instrument, Prepayment, Integral Amounts Beyond the Minimum Principal Amount | $ 1,000,000 | |||||||
Interest Expense, Total | $ 1,638,414 | $ 1,063,851 | 4,353,464 | 3,048,881 | ||||
Interest Paid, Including Capitalized Interest, Operating and Investing Activities, Total | 2,035,904 | 2,032,586 | ||||||
Notes Assumed | 2,035,904 | 1,016,295 | ||||||
Debt Instrument, Interest Rate During Period | 18.09% | |||||||
Debt Instrument, Cash Interest Rate | 9.09% | |||||||
Debt Instrument, Default Interest Rate Premium | 5.00% | |||||||
Debt Instrument, Paid-in-Kind Interest Rate | 4.00% | |||||||
Amortization of Debt Issuance Costs and Discounts, Total | $ 199,987 | $ 241,428 | $ 688,791 | $ 798,450 | ||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | Subsequent Event [Member] | ||||||||
Debt Instrument, Increase, Accrued Interest | $ 1,259,532 | |||||||
Melody Business Finance LLC [Member] | Secured Debt [Member] | If Rate Is Greater Than LIBOR Rate [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 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 | 2.26% |
Note 8 - Short-term Debt - Summ
Note 8 - Short-term Debt - Summary of Debt (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Principal | $ 36,975,547 | $ 34,657,987 |
Unamortized debt discount | (100,495) | (789,287) |
Total | $ 36,875,052 | $ 33,868,700 |
Note 8 - Other Long-term Liabil
Note 8 - Other Long-term Liabilities - Other Liabilities, Current and Noncurrent (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Deferred rent | $ 364,479 | $ 417,605 |
Deferred taxes | 336,598 | 336,598 |
Deferred revenues | 50,130 | |
Total | $ 751,207 | $ 754,203 |
Note 10 - Capital Stock (Detail
Note 10 - Capital Stock (Details Textual) | May 24, 2018USD ($)shares | Sep. 29, 2017 | Sep. 30, 2017 | Jul. 31, 2016 | May 31, 2018USD ($) |
Management Incentive Plan, Cash Bonuses, Potential Payout Amount | $ | $ 2,000,000 | $ 2,000,000 | |||
Series I Preferred Stock [Member] | |||||
Stock Issued During Period, Shares, Warrants Exchanged | shares | 100 | ||||
Junior Stock Holder, Amount | $ | $ 1,025,437 | ||||
Preferred Stock, Liquidation Value, Multiplier | 0.00% | ||||
Preferred Stock, Voting Rights, Number of Votes Per Share for Certain Holders | 1 | ||||
Reverse Stock Split [Member] | |||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 75 | 75 | 20 | ||
Melody Business Finance LLC [Member] | |||||
Number of Shares Held By Lender | shares | 2,400 |
Note 11 - Stock Options and W_3
Note 11 - Stock Options and Warrants (Details Textual) - USD ($) | May 24, 2018 | Sep. 30, 2018 | Sep. 28, 2018 | Dec. 31, 2017 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 102 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 3,730 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expirations in Period | 140 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 8 years 73 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 63 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 17 | |||
Share Price | $ 3.02 | |||
Class of Warrant or Right, Outstanding | 2,400 | 2,400 | ||
Series I Preferred Stock [Member] | ||||
Stock Issued During Period, Shares, Warrants Exchanged | 100 | |||
Director [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 102 | |||
Employee Stock Option [Member] | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 88,186 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 73 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Granted in Period, Fair Value | $ 180 |
Note 11 - Stock Options and W_4
Note 11 - Stock Options and Warrants - Black-Scholes Option Pricing Model Assumptions (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Risk-free interest rate | 2.70% | |||
Expected volatility | 105.00% | |||
Expected life (in years) (Year) | 4 years 73 days | 4 years 73 days | ||
Expected dividend yield | ||||
Estimated forfeiture rates | 20.00% | 20.00% | 20.00% | |
Weighted average per share grant date fair value (in dollars per share) | $ 1.76 | $ 9.65 | ||
Stock-based compensation | $ 24,914 | $ 136,481 | $ 874,888 | |
Minimum [Member] | ||||
Risk-free interest rate | 1.70% | |||
Expected volatility | 113.00% | |||
Estimated forfeiture rates | 20.00% | |||
Stock-based compensation | $ 207,064 | |||
Maximum [Member] | ||||
Risk-free interest rate | 1.60% | |||
Expected volatility | 110.00% | |||
Estimated forfeiture rates |
Note 11 - Stock Options and W_5
Note 11 - Stock Options and Warrants - Option Transactions Under the Stock Option Plans (Details) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Outstanding (in shares) | shares | 76,601 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 117.42 |
Granted (in shares) | shares | 102 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 2.40 |
Cancelled /expired (in shares) | shares | (3,870) |
Cancelled /expired (in dollars per share) | $ / shares | $ 132.12 |
Outstanding (in shares) | shares | 72,833 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 116.51 |
Exercisable (in shares) | shares | 51,221 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 159.16 |
Note 11 - Stock Option Plans an
Note 11 - Stock Option Plans and Warrants - Summary of Warrant Activity (Details) | 9 Months Ended |
Sep. 30, 2018$ / sharesshares | |
Outstanding, number (in shares) | shares | 2,400 |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares | $ 1,265.25 |
Exchanged, number (in shares) | shares | (2,400) |
Exchanged, weighted average exercise price (in dollars per share) | $ / shares | $ 1,265.25 |
Outstanding, number (in shares) | shares | |
Outstanding, weighted average exercise price (in dollars per share) | $ / shares |
Note 12 - Employee Stock Purc_2
Note 12 - Employee Stock Purchase Plan (Details Textual) - 2010 Employee Stock Purchase Plan [Member] - USD ($) | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
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 | 334 | |
Stock Issued During Period, Shares, Employee Stock Purchase Plans | 30 | |
Stock Issued During Period, Value, Employee Stock Purchase Plan | $ 358 | |
Defined Contribution Plan, Cost | $ 53 |
Note 14 - Revenues (Details Tex
Note 14 - Revenues (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 6,105,451 | $ 6,555,009 | $ 18,768,011 | $ 19,645,143 |
Deferred Installation Fees | 132,820 | 132,820 | ||
Deferred Commission Costs | 183,091 | 183,091 | ||
Deferred Revenue [Member] | ||||
Deferred Installation Fees | 82,690 | 82,690 | ||
Other Noncurrent Liabilities [Member] | ||||
Deferred Installation Fees | 50,130 | 50,130 | ||
Other Current Assets [Member] | ||||
Deferred Commission Costs | 119,353 | 119,353 | ||
Other Assets [Member] | ||||
Deferred Commission Costs | 63,738 | 63,738 | ||
Accounting Standards Update 2014-09 [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ (18,993) | $ (132,820) |
Note 15 - Net Loss Per Common_3
Note 15 - Net Loss Per Common Share - Antidilutive Shares Excluded From Computation of EPS (Details) - shares | 9 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2017 | |
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 198,007 | 231,848 |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 72,833 | 77,608 |
Warrant [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 2,400 | |
Series G Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 71,734 | 98,400 |
Series H Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded From Computation of Earnings Per Share, Amount (in shares) | 53,440 | 53,440 |
Note 16 - Commitments (Details
Note 16 - Commitments (Details Textual) - USD ($) | 1 Months Ended | |
Oct. 31, 2017 | Sep. 30, 2018 | |
Corporate Offices [Member] | ||
Lessee, Operating Lease, Renewal Term | 5 years | |
Operating Lease, Annual Rent | $ 183,256 | |
Annual Increase in Operating Lease Rent Expense | 2.50% | |
Minimum [Member] | ||
Lessee, Operating Lease, Renewal Term | 1 year | |
Maximum [Member] | ||
Lessee, Operating Lease, Renewal Term | 15 years | |
Maximum [Member] | Corporate Offices [Member] | ||
Operating Lease, Annual Rent | $ 213,422 |
Note 16 - Commitments - Total F
Note 16 - Commitments - Total Future Operating Lease Obligations (Details) | Sep. 30, 2018USD ($) |
Remainder of 2018 | $ 1,861,712 |
2,019 | 6,215,654 |
2,020 | 4,420,229 |
2,021 | 2,501,647 |
2,022 | 1,231,349 |
Thereafter | 484,105 |
Total | $ 16,714,696 |
Note 16 - Commitments - Rent Ex
Note 16 - Commitments - Rent Expenses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Lease and Rental Expense | $ 2,569,941 | $ 2,500,176 | $ 7,617,880 | $ 7,449,955 |
Points of Presence [Member] | ||||
Lease and Rental Expense | 2,266,238 | 2,161,038 | 6,711,857 | 6,472,499 |
Corporate Offices [Member] | ||||
Lease and Rental Expense | 59,370 | 105,359 | 183,590 | 281,513 |
Other Leased Property [Member] | ||||
Lease and Rental Expense | $ 244,333 | $ 233,779 | $ 722,433 | $ 695,943 |
Note 16 - Commitments - Total_2
Note 16 - Commitments - Total Future Capital Lease Obligations (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Remainder of 2018 | $ 97,125 | |
2,019 | 388,501 | |
2,020 | 300,374 | |
2,021 | 9,523 | |
Subtotal | 795,523 | |
Less: Interest expense | 77,041 | |
Total | 718,482 | |
Current | 334,286 | $ 382,918 |
Long-term | 384,196 | $ 305,947 |
Total | $ 718,482 |