Palisade Bio (PALI) 10-Q 14 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2019	Apr. 30, 2019
Document Information [Line Items]
Entity Registrant Name	Neuralstem, Inc.
Entity Central Index Key	0001357459
Trading Symbol	cur
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)		20,013,437
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false

Unaudited Condensed Consolidate

Unaudited Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
CURRENT ASSETS
Cash and cash equivalents	$ 4,005,089	$ 5,787,110
Trade and other receivables	237,782	294,057
Current portion of related party receivable, net of discount		63,938
Prepaid expenses	295,406	363,288
Total current assets	4,538,277	6,508,393
Property and equipment, net	75,668	90,311
Patents, net	738,404	763,543
Related party receivable, net of discount and current portion		298,238
Other assets	53,354	23,965
Total assets	5,405,703	7,684,450
CURRENT LIABILITIES
Accounts payable and accrued expenses	1,083,143	832,564
Other current liabilities	126,930	218,602
Total current liabilities	1,210,073	1,051,166
Warrant liabilities, at fair value	923,849	583,734
Total liabilities	2,133,922	1,634,900
Commitments and contingencies (Note 5)
STOCKHOLDERS' EQUITY
Preferred stock, 7,000,000 shares authorized, $0.01 par value; 1,000,000 shares issued and outstanding at both March 31, 2019 and December 31, 2018	10,000	10,000
Common stock, $0.01 par value; 300,000,000 shares authorized, 18,205,060 shares issued and outstanding at both March 31, 2019 and December 31, 2018.	182,051	182,051
Additional paid-in capital	219,819,771	219,481,805
Accumulated other comprehensive income	(2,156)	(413)
Accumulated deficit	(216,737,885)	(213,623,893)
Total stockholders' equity	3,271,781	6,049,550
Total liabilities and stockholders' equity	$ 5,405,703	$ 7,684,450

Unaudited Condensed Consolida_2

Unaudited Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	7,000,000	7,000,000
Preferred stock, shares issued (in shares)	1,000,000	1,000,000
Preferred stock, shares outstanding (in shares)	1,000,000	1,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	300,000,000	300,000,000
Common stock, shares issued (in shares)	18,205,060	18,205,060
Common stock, shares outstanding (in shares)	18,205,060	18,205,060

Unaudited Condensed Consolida_3

Unaudited Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues	$ 2,500	$ 2,500
Operating expenses:
Research and development expenses	1,514,463	1,169,441
General and administrative expenses	944,602	1,182,054
Total operating expenses	2,459,065	2,351,495
Operating loss	(2,456,565)	(2,348,995)
Other income (expense):
Interest income	29,000	17,749
Interest expense	(2,017)	(1,920)
Change in fair value of derivative instruments	(340,115)	190,219
Other income (expense)	(344,295)	(4,021)
Total other income (expense)	(657,427)	202,027
Net loss	$ (3,113,992)	$ (2,146,968)
Net loss per share - basic and diluted (in dollars per share)	$ (0.17)	$ (0.14)
Weighted average common shares outstanding - basic (in shares)	18,216,421	15,116,937
Comprehensive loss:
Net loss	$ (3,113,992)	$ (2,146,968)
Foreign currency translation adjustment	(1,743)	115
Comprehensive loss	$ (3,115,735)	$ (2,146,853)

Unaudited Consolidated Statemen

Unaudited Consolidated Statements of Changes In Stockholders' Equity - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2017	1,000,000	15,160,014
Balance at Dec. 31, 2017	$ 10,000	$ 151,600	$ 217,050,174	$ 2,631	$ (208,699,276)	$ 8,515,129
Share based payments			238,835			238,835
Foreign currency translation adjustments				115		115
Net loss					(2,146,968)	(2,146,968)
Balance (in shares) at Mar. 31, 2018	1,000,000	15,160,014
Balance at Mar. 31, 2018	$ 10,000	$ 151,600	217,289,009	2,746	(210,846,244)	6,607,111
Balance (in shares) at Dec. 31, 2018	1,000,000	18,205,060
Balance at Dec. 31, 2018	$ 10,000	$ 182,051	219,481,805	(413)	(213,623,893)	6,049,550
Share based payments			337,966			337,966
Foreign currency translation adjustments				(1,743)		(1,743)
Net loss					(3,113,992)	(3,113,992)
Balance (in shares) at Mar. 31, 2019	1,000,000	18,205,060
Balance at Mar. 31, 2019	$ 10,000	$ 182,051	$ 219,819,771	$ (2,156)	$ (216,737,885)	$ 3,271,781

Unaudited Condensed Consolida_4

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (3,113,992)	$ (2,146,968)
Adjustments to reconcile net loss to cash used in operating activities:
Depreciation and amortization	39,821	67,374
Share-based compensation expense	337,966	238,835
Change in fair value of liability classified warrants	340,115	(190,219)
Changes in operating assets and liabilities:
Trade and other receivables	56,275	175,430
Related party receivable	362,176	89,937
Prepaid expenses	75,938	56,241
Other assets	19,125	(4,000)
Accounts payable and accrued expenses	244,319	293,119
Accrued bonuses		(418,625)
Other current liabilities	(27,648)	(7,369)
Other long term liabilities		(704)
Net cash used in operating activities	(1,665,905)	(1,846,949)
Cash flows from investing activities:
Maturity of short-term investments		5,000,000
Net cash provided by investing activities		5,000,000
Cash flows from financing activities:
Payments of short-term notes payable	(117,019)	(104,244)
Net cash used in financing activities	(117,019)	(104,244)
Effects of exchange rates on cash	903	501
Net (decrease) increase in cash and cash equivalents	(1,782,021)	3,049,308
Cash and cash equivalents, beginning of period	5,787,110	6,674,940
Cash and cash equivalents, end of period	4,005,089	9,724,248
Supplemental disclosure of cash flows information:
Cash paid for interest	$ 2,017	$ 1,920

Note 1 - Organization, Business

Note 1 - Organization, Business and Financial Condition	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	Note 1. Organization, Business and Financial Condition Nature of business Neuralstem, Inc. and its subsidiary are referred to as “Neuralstem,” the “Company,” “us,” or “we” throughout this report. The operations of our wholly-owned and controlled subsidiary located in the People’s Republic of China are consolidated in our unaudited condensed consolidated financial statements and all intercompany activity has been eliminated. The Company operates in one Neuralstem is a clinical stage biopharmaceutical company that is utilizing its proprietary human neural stem cell technology to create a comprehensive platform of therapies for the treatment of central nervous system diseases. The Company has utilized this technology as a tool for small-molecule drug discovery and to create cell therapy biotherapeutics to treat central nervous system diseases. The Company was founded in 1997 Liquidity and Going Concern The Company has incurred losses since its inception and has not not no one not In making this assessment the Company performed a comprehensive analysis of its current circumstances including: its financial position at March 31, 2019, one We expect that our existing cash and cash equivalents will be sufficient to enable us to fund our anticipated level of operations based on our current operating plans into the third 2019. no not may third not We have spent and will continue to spend substantial funds in the research, development, pre-clinical and clinical testing of our small molecule and stem cell product candidates with the goal of ultimately obtaining approval from the United States Food and Drug Administration (the “FDA”) and its international equivalents regulatory agencies, to market and sell our products. We have also begun spending funds on the evaluation and new assets and technologies with the goal of acquisition and development. No

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies and Basis of Presentation	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Significant Accounting Policies [Text Block]	Note 2. Basis of Presentation In management’s opinion, the accompanying interim unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows. The unaudited condensed consolidated balance sheet at December 31, 2018, not may not 10 December 31, 2018, may Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The unaudited condensed consolidated financial statements include significant estimates for the expected economic life and value of our licensed technology and related patents, our net operating loss and related valuation allowance for tax purposes, the fair value of our liability classified warrants and our share-based compensation related to employees and directors, consultants and advisors, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates. Fair Value Measurements The carrying amounts of our short-term financial instruments, which primarily include cash and cash equivalents, short-term investments, accounts payable and accrued expenses, approximate their fair values due to their short maturities. The fair value of our long-term indebtedness was estimated based on the quoted prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities and approximates the carrying value. The fair values of our liability classified warrants were estimated using Level 3 3 Foreign Currency Translation The functional currency of our wholly owned foreign subsidiary is its local currency. Assets and liabilities of our foreign subsidiary are translated into United States dollars based on exchange rates at the end of the reporting period; income and expense items are translated at the weighted average exchange rates prevailing during the reporting period. Translation adjustments for subsidiary are accumulated in other comprehensive income or loss, a component of stockholders' equity. Transaction gains or losses are included in the determination of net loss. Cash, Cash Equivalents and Credit Risk Cash equivalents consist of investments in low risk, highly liquid money market accounts and certificates of deposit with original maturities of 90 may Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents. Our investment policy, approved by our Board of Directors, limits the amount we may one not Revenue The Company analyzes contracts to determine the appropriate revenue recognition using the following steps: (i) identification of contracts with customers; (ii) identification of distinct performance obligations in the contract; (iii) determination of contract transaction price; (iv) allocation of contract transaction price to the performance obligations; and (v) determination of revenue recognition based on timing of satisfaction of the performance obligation. The Company recognizes revenues upon the satisfaction of its performance obligation (upon transfer of control of promised goods or services to customers) in an amount that reflects the consideration to which it expects to be entitled to in exchange for those goods or services. Deferred revenue results from cash receipts from or amounts billed to customers in advance of the transfer of control of the promised services to the customer and is recognized as performance obligations are satisfied. When sales commissions or other costs to obtain contracts with customers are considered incremental and recoverable, those costs are deferred and then amortized as selling and marketing expenses on a straight-line basis over an estimated period of benefit. Research and Development Research and development costs are expensed as they are incurred. Research and development expenses consist primarily of costs associated with the pre-clinical development and clinical trials of our product candidates. For the three March 31, 2019 2018, $95,000 $84,000, Income (Loss) per Common Share Basic income (loss) per common share is computed by dividing total net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. For periods of net income when the effects are dilutive, diluted earnings per share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding and the dilutive impact of all dilutive potential common shares. Dilutive potential common shares consist primarily of convertible preferred stock, stock options, restricted stock units and common stock purchase warrants. The dilutive impact of potential common shares resulting from common stock equivalents is determined by applying the treasury stock method. Our unvested restricted shares contain non-forfeitable rights to dividends, and therefore are considered to be participating securities; the calculation of basic and diluted income per share excludes net income attributable to the unvested restricted shares from the numerator and excludes the impact of the shares from the denominator. For all periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses; accordingly, diluted loss per share is the same as basic loss per share for the three March 31, 2019 2018. 13.5 9.5 three March 31, 2019 2018, Share-Based Compensation We account for share-based compensation at fair value. Share-based compensation cost for stock options and stock purchase warrants is generally determined at the grant date using an option pricing model that uses Level 3 Intangible and Long-Lived Assets We assess impairment of our long-lived assets using a "primary asset" approach to determine the cash flow estimation period for a group of assets and liabilities that represents the unit of accounting for a long-lived asset to be held and used. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not No three March 31, 2019 2018. Income Taxes We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is “more likely than not” Leases We determine if an arrangement is or contains a lease at its inception. We have made accounting policy elections whereby we (i) do not 12 not ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Rent expense is recognized on a straight-line basis over the lease term. We currently have one 12 August 2019 $49,600 March 31, 2019. $29,800 three March 31, 2019. not 12.75% March 31, 2019, $33,900 $48,100, We also have two not $47,300 $47,100 March 31, 2019 2018, 2019 $16,900 In addition, in April 2018, $62,200 $24,200 March 31, 2019. Significant New Accounting Pronouncements Recently Adopted Guidance In February 2016, ASU, No. 2016 02, December 15, 2018 may January 1, 2019 not not $53,000 $75,700 In June 2018, ASU 2018 07, ASC 718, 1 2 3 December 15, 2018. January 1, 2019. not Unadopted Guidance In June 2016, ASU No. 2016 13, December 15, 2019, not In August 2018, ASU 2018 13, 820 December 15, 2019 In August 2018, ASU 2018 15, December 15, 2019 We have reviewed other recent accounting pronouncements and concluded that they are either not no

Note 3 - Fair Value Measurement

Note 3 - Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Fair Value Disclosures [Text Block]	Note 3. Fair value is the price that would be received from the sale of an asset or paid to transfer a liability assuming an orderly transaction in the most advantageous market at the measurement date. U.S. GAAP establishes a hierarchical disclosure framework which prioritizes and ranks the level of observability of inputs used in measuring fair value. These levels are: · Level 1 · Level 2 not · Level 3 Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis We have segregated our financial assets and liabilities that are measured at fair value on a recurring into the most appropriate level within the fair value hierarchy based on the inputs used to determine the fair value at the measurement date. At March 31, 2019 December 31, 2018, May 2016 August 2017 4 3 Level 1 Level 2 Level 3 Total Liabilities Liability classified stock purchase warrants $ - $ - $ 583,734 $ 583,734 Balance at December 31, 2018 $ - $ - $ 583,734 $ 583,734 Liability classified stock purchase warrants $ - $ - $ 923,849 $ 923,849 Balance at March 31, 2019 $ - $ - $ 923,849 $ 923,849 The following table presents the activity for those items measured at fair value on a recurring basis using Level 3 three March 31, 2019: Mark-to-market Balance at December 31, 2018 $ 583,734 Change in fair value - loss 340,115 Balance at March 31, 2019 $ 923,849 The following table presents the activity for those items measured at fair value on a recurring basis using Level 3 three March 31, 2018: Mark-to-market Balance at December 31, 2017 $ 3,852,882 Change in fair value - gain (190,219 ) Balance at March 31, 2018 $ 3,662,663 The (gains) losses resulting from the changes in the fair value of the liability classified warrants are classified as other income or expense in the accompanying unaudited condensed consolidated statements of operations. The fair value of the common stock purchase warrants is determined based on the Black-Scholes option pricing model or other option pricing models as appropriate and includes the use of unobservable inputs such as the expected term, anticipated volatility and expected dividends. Changes in any of the assumptions related to the unobservable inputs identified above may

Note 4 - Stockholders' Equity

Note 4 - Stockholders' Equity	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	Note 4. We have granted share-based compensation awards to employees, board members and service providers. Awards may ten March 31, 2019, 10.9 We typically record share-based compensation expense on a straight-line basis over the requisite service period. Share-based compensation expenses included in the statements of operations are as follows: Three Months Ended March 31 2019 2018 Research and development expenses $ 200,337 $ 64,583 General and administrative expenses 137,629 174,252 Total $ 337,966 $ 238,835 Stock Options A summary of stock option activity and related information for the three March 31, 2019 Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2019 1,632,662 $ 10.78 5.1 $ - Granted 800,000 $ 0.43 Exercised - $ - $ - Forfeited - $ - Outstanding at March 31 2019 2,432,662 $ 7.37 6.4 $ 19,040 Exercisable at March 31, 2019 1,795,786 $ 9.78 5.3 $ 5,712 Range of Exercise Prices Number of Options Outstanding Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value $0.40 - $0.50 800,000 $ 0.43 9.7 $ 19,040 $1.00 - $3.50 588,640 $ 1.15 7.1 - $3.51 - $13.00 532,236 $ 9.76 4.1 - $13.01 - $26.00 343,782 $ 14.79 2.8 - $26.01 - $39.00 65,504 $ 30.85 2.2 - $39.01 - $56.00 102,500 $ 45.03 4.3 - 2,432,662 $ 7.37 6.4 $ 19,040 The Company uses the Black-Scholes option pricing model for “plain vanilla” options and other pricing models as appropriate to calculate the fair value of options. The Company generally uses the “simplified method” to estimate expected life. Significant assumptions used in these models include: Three Months Ended March 31, 2019 Annual dividend - Expected life (in years) 5.4 - 5.5 Risk free interest rate 2.4% - 2.5% Expected volatility 97% Options granted in the three March 31, 2019, $0.34 no three March 31, 2018. Unrecognized compensation cost for unvested stock option awards outstanding at March 31, 2019 $250,000 0.8 In the three March 31, 2019, $102,000 three March 31, 2019. RSUs We have granted restricted stock units (RSUs) to certain employees and board members that entitle the holders to receive shares of our common stock upon vesting and subject to certain restrictions regarding the exercise of the RSUs. The grant date fair value of RSUs is based upon the market price of the underlying common stock on the date of grant. No three March 31, 2019 2018. No three March 31, 2019. At March 31, 2019, 33,758 $4.66 $15,200. No three March 31, 2019. March 31, 2019. Restricted Stock We have granted restricted stock to certain board members that vest quarterly over the grant year. The grant date fair value of the restricted stock is based upon the market price of the common stock on the date of grant. No three March 31, 2019 2018. Restricted stock vesting in the three March 31, 2019, $1.11 $5,100. At March 31, 2019, 11,262 $1.11. March 31, 2019 $12,500 0.25 Stock Purchase Warrants. We have issued warrants to purchase common stock to certain officers, directors, stockholders and service providers as well as in conjunction with debt and equity offerings and at various times replacement warrants were issued as an inducement for warrant exercises. In May 2016 August 2017, 1,746,173 2,250,000 contained in the warrants. At March 31, 2019, 2,982,709 3 In the three March 31, 2019, 500,000 third $0.30, January 2024 $0.19 25% 75% March 31, 2019. no 2.5 2.5% 110%. A summary of outstanding warrants at March 31, 2019 Range of Exercise Prices Number of Warrants Outstanding Range of Expiration Dates $0.30 - $0.875 6,662,709 May 2021 - August 2024 $1.11 - $5.79 34,617 May 2021 - May 2023 $12.80 - $12.90 39,296 January 2022 $16.20 - $16.30 174,544 March 2020 $22.10 - $27.90 44,233 December 2019 - January 2021 $34.50 - $39.20 236,556 October 2019 - October 2021 $52.31 11,539 July 2019 7,203,494 Preferred and Common Stock We have outstanding 1,000,000 4.5% December 2016. 4.5% 3,887,387 April 2019, 465,191 4.5% 1,808,377

Note 5 - Commitments and Contin

Note 5 - Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	Note 5. We currently operate one one 1,500 $5,700 December 31, 2018. In 2015, 3,100 $13,000 August 31, 2019. April 2018, $62,200 March 31, 2019. We also lease a research facility in People’s Republic of China. This lease expires on September 30, 2019 $3,800 From time to time, we are parties to legal proceedings that we believe to be ordinary, routine litigation incidental to the business. We are currently not

Note 6 - Related Party Receivab

Note 6 - Related Party Receivable	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	Note 6. On August 10, 2016, six $658,000 The $658,000 $199,000 In March 2019, 50% March 31, 2019, $229,000 July 2025. not

Note 7 - Subsequent Events

Note 7 - Subsequent Events	3 Months Ended
	Mar. 31, 2019
Notes to Financial Statements
Subsequent Events [Text Block]	Note 7. None.

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation In management’s opinion, the accompanying interim unaudited condensed consolidated financial statements include all adjustments, consisting of normal recurring adjustments, which are necessary to present fairly our financial position, results of operations and cash flows. The unaudited condensed consolidated balance sheet at December 31, 2018, not may not 10 December 31, 2018, may
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The unaudited condensed consolidated financial statements include significant estimates for the expected economic life and value of our licensed technology and related patents, our net operating loss and related valuation allowance for tax purposes, the fair value of our liability classified warrants and our share-based compensation related to employees and directors, consultants and advisors, among other things. Because of the use of estimates inherent in the financial reporting process, actual results could differ significantly from those estimates.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements The carrying amounts of our short-term financial instruments, which primarily include cash and cash equivalents, short-term investments, accounts payable and accrued expenses, approximate their fair values due to their short maturities. The fair value of our long-term indebtedness was estimated based on the quoted prices for the same or similar issues or on the current rates offered to the Company for debt of the same remaining maturities and approximates the carrying value. The fair values of our liability classified warrants were estimated using Level 3 3
Foreign Currency Transactions and Translations Policy [Policy Text Block]	Foreign Currency Translation The functional currency of our wholly owned foreign subsidiary is its local currency. Assets and liabilities of our foreign subsidiary are translated into United States dollars based on exchange rates at the end of the reporting period; income and expense items are translated at the weighted average exchange rates prevailing during the reporting period. Translation adjustments for subsidiary are accumulated in other comprehensive income or loss, a component of stockholders' equity. Transaction gains or losses are included in the determination of net loss.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash, Cash Equivalents and Credit Risk Cash equivalents consist of investments in low risk, highly liquid money market accounts and certificates of deposit with original maturities of 90 may Financial instruments that potentially subject us to concentrations of credit risk consist primarily of cash equivalents. Our investment policy, approved by our Board of Directors, limits the amount we may one not
Revenue from Contract with Customer [Policy Text Block]	Revenue The Company analyzes contracts to determine the appropriate revenue recognition using the following steps: (i) identification of contracts with customers; (ii) identification of distinct performance obligations in the contract; (iii) determination of contract transaction price; (iv) allocation of contract transaction price to the performance obligations; and (v) determination of revenue recognition based on timing of satisfaction of the performance obligation. The Company recognizes revenues upon the satisfaction of its performance obligation (upon transfer of control of promised goods or services to customers) in an amount that reflects the consideration to which it expects to be entitled to in exchange for those goods or services. Deferred revenue results from cash receipts from or amounts billed to customers in advance of the transfer of control of the promised services to the customer and is recognized as performance obligations are satisfied. When sales commissions or other costs to obtain contracts with customers are considered incremental and recoverable, those costs are deferred and then amortized as selling and marketing expenses on a straight-line basis over an estimated period of benefit.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Research and development costs are expensed as they are incurred. Research and development expenses consist primarily of costs associated with the pre-clinical development and clinical trials of our product candidates. For the three March 31, 2019 2018, $95,000 $84,000,
Earnings Per Share, Policy [Policy Text Block]	Income (Loss) per Common Share Basic income (loss) per common share is computed by dividing total net income (loss) available to common stockholders by the weighted average number of common shares outstanding during the period. For periods of net income when the effects are dilutive, diluted earnings per share is computed by dividing net income available to common stockholders by the weighted average number of shares outstanding and the dilutive impact of all dilutive potential common shares. Dilutive potential common shares consist primarily of convertible preferred stock, stock options, restricted stock units and common stock purchase warrants. The dilutive impact of potential common shares resulting from common stock equivalents is determined by applying the treasury stock method. Our unvested restricted shares contain non-forfeitable rights to dividends, and therefore are considered to be participating securities; the calculation of basic and diluted income per share excludes net income attributable to the unvested restricted shares from the numerator and excludes the impact of the shares from the denominator. For all periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all dilutive potential common shares is anti-dilutive due to the net losses; accordingly, diluted loss per share is the same as basic loss per share for the three March 31, 2019 2018. 13.5 9.5 three March 31, 2019 2018,
Share-based Payment Arrangement [Policy Text Block]	Share-Based Compensation We account for share-based compensation at fair value. Share-based compensation cost for stock options and stock purchase warrants is generally determined at the grant date using an option pricing model that uses Level 3
Goodwill and Intangible Assets, Policy [Policy Text Block]	Intangible and Long-Lived Assets We assess impairment of our long-lived assets using a "primary asset" approach to determine the cash flow estimation period for a group of assets and liabilities that represents the unit of accounting for a long-lived asset to be held and used. Long-lived assets to be held and used are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not not No three March 31, 2019 2018.
Income Tax, Policy [Policy Text Block]	Income Taxes We account for income taxes using the asset and liability approach, which requires the recognition of future tax benefits or liabilities on the temporary differences between the financial reporting and tax bases of our assets and liabilities. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized. We also recognize a tax benefit from uncertain tax positions only if it is “more likely than not”
Lessee, Leases [Policy Text Block]	Leases We determine if an arrangement is or contains a lease at its inception. We have made accounting policy elections whereby we (i) do not 12 not ROU assets represent our right to use an underlying asset for the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Rent expense is recognized on a straight-line basis over the lease term. We currently have one 12 August 2019 $49,600 March 31, 2019. $29,800 three March 31, 2019. not 12.75% March 31, 2019, $33,900 $48,100, We also have two not $47,300 $47,100 March 31, 2019 2018, 2019 $16,900 In addition, in April 2018, $62,200 $24,200 March 31, 2019.
New Accounting Pronouncements, Policy [Policy Text Block]	Significant New Accounting Pronouncements Recently Adopted Guidance In February 2016, ASU, No. 2016 02, December 15, 2018 may January 1, 2019 not not $53,000 $75,700 In June 2018, ASU 2018 07, ASC 718, 1 2 3 December 15, 2018. January 1, 2019. not Unadopted Guidance In June 2016, ASU No. 2016 13, December 15, 2019, not In August 2018, ASU 2018 13, 820 December 15, 2019 In August 2018, ASU 2018 15, December 15, 2019 We have reviewed other recent accounting pronouncements and concluded that they are either not no

Note 3 - Fair Value Measureme_2

Note 3 - Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]	Level 1 Level 2 Level 3 Total Liabilities Liability classified stock purchase warrants $ - $ - $ 583,734 $ 583,734 Balance at December 31, 2018 $ - $ - $ 583,734 $ 583,734 Liability classified stock purchase warrants $ - $ - $ 923,849 $ 923,849 Balance at March 31, 2019 $ - $ - $ 923,849 $ 923,849
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Mark-to-market Balance at December 31, 2018 $ 583,734 Change in fair value - loss 340,115 Balance at March 31, 2019 $ 923,849 Mark-to-market Balance at December 31, 2017 $ 3,852,882 Change in fair value - gain (190,219 ) Balance at March 31, 2018 $ 3,662,663

Note 4 - Stockholders' Equity (

Note 4 - Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Notes Tables
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]	Three Months Ended March 31 2019 2018 Research and development expenses $ 200,337 $ 64,583 General and administrative expenses 137,629 174,252 Total $ 337,966 $ 238,835
Share-based Payment Arrangement, Option, Activity [Table Text Block]	Number of Options Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value Outstanding at January 1, 2019 1,632,662 $ 10.78 5.1 $ - Granted 800,000 $ 0.43 Exercised - $ - $ - Forfeited - $ - Outstanding at March 31 2019 2,432,662 $ 7.37 6.4 $ 19,040 Exercisable at March 31, 2019 1,795,786 $ 9.78 5.3 $ 5,712
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block]	Range of Exercise Prices Number of Options Outstanding Weighted-Average Exercise Price Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value $0.40 - $0.50 800,000 $ 0.43 9.7 $ 19,040 $1.00 - $3.50 588,640 $ 1.15 7.1 - $3.51 - $13.00 532,236 $ 9.76 4.1 - $13.01 - $26.00 343,782 $ 14.79 2.8 - $26.01 - $39.00 65,504 $ 30.85 2.2 - $39.01 - $56.00 102,500 $ 45.03 4.3 - 2,432,662 $ 7.37 6.4 $ 19,040
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	Three Months Ended March 31, 2019 Annual dividend - Expected life (in years) 5.4 - 5.5 Risk free interest rate 2.4% - 2.5% Expected volatility 97%
Schedule of Share-based Compensation, Warrant Activity [Table Text Block]	Range of Exercise Prices Number of Warrants Outstanding Range of Expiration Dates $0.30 - $0.875 6,662,709 May 2021 - August 2024 $1.11 - $5.79 34,617 May 2021 - May 2023 $12.80 - $12.90 39,296 January 2022 $16.20 - $16.30 174,544 March 2020 $22.10 - $27.90 44,233 December 2019 - January 2021 $34.50 - $39.20 236,556 October 2019 - October 2021 $52.31 11,539 July 2019 7,203,494

Note 1 - Organization, Busine_2

Note 1 - Organization, Business and Financial Condition (Details Textual)	3 Months Ended
	Mar. 31, 2019
Number of Operating Segments	1

Note 2 - Significant Accounti_2

Note 2 - Significant Accounting Policies and Basis of Presentation (Details Textual) - USD ($)	Jan. 01, 2018	Mar. 31, 2019	Mar. 31, 2018	Jan. 01, 2019
Cost Reimbursements from SBIR Grant as Offset to Research and Development Expenses		$ 95,000	$ 84,000
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		13.5	9.5
Lessee, Operating Lease, Liability, Payments, Due, Total		$ 49,600
Operating Lease, Payments	$ 29,800
Lessee, Operating Lease, Discount Rate		12.75%
Operating Leases, Rent Expense, Net, Total		$ 47,300	$ 47,100
Operating Leases, Rent Expense, Sublease Rentals		62,200
Sublease Income		24,200
Accounting Standards Update 2016-02 [Member]
Operating Lease, Right-of-Use Asset				$ 53,000
Operating Lease, Liability, Total				$ 75,700
Short-term Leases [Member]
Operating Leases, Rent Expense, Net, Total		16,900
Other Noncurrent Assets [Member]
Operating Lease, Right-of-Use Asset		33,900
Other Current Liabilities [Member]
Operating Lease, Liability, Total		$ 48,100
Minimum [Member]
Lessee, Operating Lease, Term of Contract		1 year

Note 3 - Fair Value Measureme_3

Note 3 - Fair Value Measurements - Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair value of liabilities	$ 923,849	$ 583,734
Stock Purchase Warrants [Member]
Liability classified stock purchase warrants	923,849	583,734
Fair Value, Inputs, Level 1 [Member]
Fair value of liabilities
Fair Value, Inputs, Level 1 [Member] | Stock Purchase Warrants [Member]
Liability classified stock purchase warrants
Fair Value, Inputs, Level 2 [Member]
Fair value of liabilities
Fair Value, Inputs, Level 2 [Member] | Stock Purchase Warrants [Member]
Liability classified stock purchase warrants
Fair Value, Inputs, Level 3 [Member]
Fair value of liabilities	923,849	583,734
Fair Value, Inputs, Level 3 [Member] | Stock Purchase Warrants [Member]
Liability classified stock purchase warrants	$ 923,849	$ 583,734

Note 3 - Fair Value Measureme_4

Note 3 - Fair Value Measurements - Activity for Items Measured at Fair Value on a Recurring Basis (Details) - Stock Purchase Warrants [Member] - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance	$ 583,734	$ 3,852,882
Change in fair value - loss	340,115	(190,219)
Balance	$ 923,849	$ 3,662,663

Note 4 - Stockholders' Equity_2

Note 4 - Stockholders' Equity (Details Textual) - USD ($)	1 Months Ended				3 Months Ended			9 Months Ended
	Apr. 30, 2019	Aug. 31, 2017	Dec. 31, 2016	May 31, 2016	Mar. 31, 2019	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2018
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					10 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant					10,900,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value						$ 0.34
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross					800,000		0
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount					$ 250,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					292 days
Additional Research and Development Expense Due to Modifications					$ 102,000
Series A 4.5% Convertible Preferred Stock [Member] | Subsequent Event [Member]
Conversion of Stock, Shares Converted	465,191
Stock Issued During Period, Shares, Conversion of Convertible Securities	1,808,377
Series A 4.5% Convertible Preferred Stock [Member] | Private Placement [Member]
Stock Issued During Period, Shares, New Issues			1,000,000
Preferred Stock, Dividend Rate, Percentage			4.50%
Convertible Preferred Stock, Issuable Upon Conversion of All Shares			3,887,387
Stock Purchase Warrants [Member]
Class of Warrant or Right, Issued During Period		2,250,000		1,746,173	500,000
Class of Warrant or Right, Outstanding					2,982,709
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 0.30
Class of Warrant or Right, Granted During Period, Weighted Average Grant Date Fair Value					$ 0.19
Class of Warrant or Right, Vesting Percentage on Grant					25.00%
Class of Warrant or Right, Vesting Percentage on Completion of Initial Services					75.00%
Warrants and Rights Outstanding, Term					2 years 182 days
Stock Purchase Warrants [Member] | Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input					0
Stock Purchase Warrants [Member] | Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input					0.025
Stock Purchase Warrants [Member] | Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input					1.1
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted					0		0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period					0
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding, Number, Ending Balance					33,758
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Weighted Average Grant Date Fair Value					$ 4.66
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Outstanding					$ 15,200
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Exercised								0
Restricted Stock [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition					91 days
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Granted					0
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value					$ 1.11
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Vested					$ 5,100
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance					11,262
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value, Ending Balance					$ 1.11
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount					$ 12,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period							0

Note 4 - Stockholders' Equity -

Note 4 - Stockholders' Equity - Share-based Compensation Expense (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based compensation expense	$ 337,966	$ 238,835
Research and Development Expense [Member]
Share-based compensation expense	200,337	64,583
General and Administrative Expense [Member]
Share-based compensation expense	$ 137,629	$ 174,252

Note 4 - Stockholders' Equity_3

Note 4 - Stockholders' Equity - Summary of Stock Option Activity (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Options Outstanding (in shares)	1,632,662
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 10.78
Weighted- average remaining contractual life (Year)	6 years 146 days		5 years 36 days
Options Granted (in shares)	800,000	0
Options Granted, Weighted Average Exercise Price (in dollars per share)	$ 0.43
Options Outstanding (in shares)	2,432,662		1,632,662
Options Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 7.37		$ 10.78
Aggregate intrinsic value	$ 19,040
Options Exercisable (in shares)	1,795,786
Options Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 9.78
Options Exercisable, Weighted Average Remaining Contractual Life (Year)	5 years 109 days
Options Exercisable, Aggregate Intrinsic Value	$ 5,712

Note 4 - Stockholders' Equity_4

Note 4 - Stockholders' Equity - Stock Options by Exercise Price Range (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Number of options outstanding (in shares)	2,432,662
Weighted- average exercise price (in dollars per share)	$ 7.37
Weighted- average remaining contractual life (Year)	6 years 146 days	5 years 36 days
Aggregate intrinsic value	$ 19,040
Range One [Member]
Range of exercise prices, lower limit (in dollars per share)
Range of exercise prices, upper limit (in dollars per share)	$ 0.50
Number of options outstanding (in shares)	800,000
Weighted- average exercise price (in dollars per share)	$ 0.43
Weighted- average remaining contractual life (Year)	9 years 255 days
Aggregate intrinsic value	$ 19,040
Range Two [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 1
Range of exercise prices, upper limit (in dollars per share)	$ 3.50
Number of options outstanding (in shares)	588,640
Weighted- average exercise price (in dollars per share)	$ 1.15
Weighted- average remaining contractual life (Year)	7 years 36 days
Aggregate intrinsic value
Range Three [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 3.51
Range of exercise prices, upper limit (in dollars per share)	$ 13
Number of options outstanding (in shares)	532,236
Weighted- average exercise price (in dollars per share)	$ 9.76
Weighted- average remaining contractual life (Year)	4 years 36 days
Aggregate intrinsic value
Range Four [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 13.01
Range of exercise prices, upper limit (in dollars per share)	$ 26
Number of options outstanding (in shares)	343,782
Weighted- average exercise price (in dollars per share)	$ 14.79
Weighted- average remaining contractual life (Year)	2 years 292 days
Aggregate intrinsic value
Range Five [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 26.01
Range of exercise prices, upper limit (in dollars per share)	$ 39
Number of options outstanding (in shares)	65,504
Weighted- average exercise price (in dollars per share)	$ 30.85
Weighted- average remaining contractual life (Year)	2 years 73 days
Aggregate intrinsic value
Range Six [Member]
Range of exercise prices, lower limit (in dollars per share)	$ 39.01
Range of exercise prices, upper limit (in dollars per share)	$ 56
Number of options outstanding (in shares)	102,500
Weighted- average exercise price (in dollars per share)	$ 45.03
Weighted- average remaining contractual life (Year)	4 years 109 days
Aggregate intrinsic value

Note 4 - Stockholders' Equity_5

Note 4 - Stockholders' Equity - Fair Value Assumptions for Stock Options (Details)	3 Months Ended
	Mar. 31, 2019
Annual dividend
Expected volatility	97.00%
Minimum [Member]
Expected life (Year)	5 years 146 days
Risk free interest rate	2.40%
Expected volatility
Maximum [Member]
Expected life (Year)	5 years 182 days
Risk free interest rate	2.50%
Expected volatility

Note 4 - Stockholders' Equity_6

Note 4 - Stockholders' Equity - Summary of Warrant Activity (Details) - Stock Purchase Warrants [Member]	3 Months Ended
	Mar. 31, 2019$ / sharesshares
Number of warrants outstanding (in shares) | shares	7,203,494
Range One [Member]
Lower exercise price range (in dollars per share)	$ 0.30
Upper range of exercise prices (in dollars per share)	$ 0.875
Number of warrants outstanding (in shares) | shares	6,662,709
Range One [Member] | Minimum [Member]
Expiration dates	May 31, 2021
Range One [Member] | Maximum [Member]
Expiration dates	Aug. 31, 2024
Range Two [Member]
Lower exercise price range (in dollars per share)	$ 1.11
Upper range of exercise prices (in dollars per share)	$ 5.79
Number of warrants outstanding (in shares) | shares	34,617
Range Two [Member] | Minimum [Member]
Expiration dates	May 31, 2021
Range Two [Member] | Maximum [Member]
Expiration dates	May 31, 2023
Range Three [Member]
Expiration dates	Jan. 31, 2022
Lower exercise price range (in dollars per share)	$ 12.80
Upper range of exercise prices (in dollars per share)	$ 12.90
Number of warrants outstanding (in shares) | shares	39,296
Range Four [Member]
Expiration dates	Mar. 31, 2020
Lower exercise price range (in dollars per share)	$ 16.20
Upper range of exercise prices (in dollars per share)	$ 16.30
Number of warrants outstanding (in shares) | shares	174,544
Range Five [Member]
Expiration dates	Dec. 31, 2019
Lower exercise price range (in dollars per share)	$ 22.10
Upper range of exercise prices (in dollars per share)	$ 27.90
Number of warrants outstanding (in shares) | shares	44,233
Range Five [Member] | Maximum [Member]
Expiration dates	Jan. 31, 2021
Range Six [Member]
Lower exercise price range (in dollars per share)	$ 34.50
Upper range of exercise prices (in dollars per share)	$ 39.20
Number of warrants outstanding (in shares) | shares	236,556
Range Six [Member] | Minimum [Member]
Expiration dates	Oct. 31, 2019
Range Six [Member] | Maximum [Member]
Expiration dates	Oct. 31, 2021
Range Seven [Member]
Expiration dates	Jul. 31, 2019
Lower exercise price range (in dollars per share)	$ 52.31
Upper range of exercise prices (in dollars per share)	$ 52.31
Number of warrants outstanding (in shares) | shares	11,539

Note 5 - Commitments and Cont_2

Note 5 - Commitments and Contingencies (Details Textual)	3 Months Ended	12 Months Ended
	Mar. 31, 2019USD ($)ft²	Dec. 31, 2015USD ($)ft²
UNITED STATES
Number of Facilities	1
CHINA
Number of Facilities	1
Lease Monthly Payment	$ 3,800
Germantown, MD [Member]
Area of Real Estate Property | ft²	1,500
Lease Monthly Payment	$ 5,700
San Diego, CA [Member]
Area of Real Estate Property | ft²		3,100
Lease Monthly Payment		$ 13,000
Operating Leases, Future Minimum Payments Due, Future Minimum Sublease Rentals	$ 62,200

Note 6 - Related Party Receiv_2

Note 6 - Related Party Receivable (Details Textual) - Chief Scientific Officer [Member] - Repayment Agreement of Improperly Expense Reimbursement [Member] - USD ($)	Aug. 10, 2016	Mar. 31, 2019
Due from Related Parties, Term	6 years
Due from Related Parties, Total	$ 658,000	$ 229,000
Due from Related Party, Discount	$ 199,000