The Coretec Group Inc. (CRTG) 10-Q 14 Aug 17 2017 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2017	Aug. 14, 2017
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Entity Registrant Name	CORETEC GROUP INC.
Entity Central Index Key	1,375,195
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Trading Symbol	CRTG
Entity Common Stock, Shares Outstanding		46,781,423

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Current assets:
Cash	$ 5,323	$ 594
Prepaid expenses	15,464	44,854
Other intangible assets	6,111	12,778
Total current assets	26,898	58,226
Property and equipment, net	2,142	6,131
Other assets:
Patents, net	1,339,829	1,379,943
Goodwill	166,000	166,000
Deposits-other	2,315	2,315
Total other assets	1,508,144	1,548,258
Total Assets	1,537,184	1,612,615
Current liabilities:
Notes payable - related party	1,191,075	0
Notes and debentures payable	89,465	114,259
Accounts payable and accrued expenses	597,009	351,143
Accounts payable - related party	25,000	0
Accrued interest payable - related party	19,146	71,309
Accrued interest payable	158,615	17,615
Total current liabilities	2,080,310	554,326
Long term debt:
Notes payable - related party, net	34,200	1,054,325
Total Liabilities	2,114,510	1,608,651
Stockholders' equity (deficiency):
Common stock $0.0002 par value, 1,500,000,000 shares authorized; 4,939,182 shares issued and outstanding	988	988
Additional paid-in capital	1,281,699	881,699
Accumulated deficit	(1,861,394)	(880,104)
Total Stockholders' Equity (Deficiency)	(577,326)	3,964
Total Liabilities and Stockholders' Equity (Deficiency)	1,537,184	1,612,615
Series A Preferred Stock [Member]
Stockholders' equity (deficiency):
Preferred Stock Value	69	69
Total Stockholders' Equity (Deficiency)	69	69
Series B Preferred Stock [Member]
Stockholders' equity (deficiency):
Preferred Stock Value	1,312	1,312
Total Stockholders' Equity (Deficiency)	$ 1,312	$ 1,312

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
Common stock, par value (in dollars per share)	$ 0.0002	$ 0.0002
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued	4,939,182	4,939,182
Common stock, shares outstanding	4,939,182	4,939,182
Series A Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share	$ 0.0002	$ 0.0002
Preferred Stock, Shares Authorized	500,000	500,000
Preferred Stock, Shares Issued	345,000	345,000
Preferred Stock, Shares Outstanding	345,000	345,000
Series B Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share	$ 0.0002	$ 0.0002
Preferred Stock, Shares Authorized	6,600,000	6,600,000
Preferred Stock, Shares Issued	6,558,345	6,558,345
Preferred Stock, Shares Outstanding	6,558,345	6,558,345

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Income:
Revenue	$ 0	$ 0	$ 0	$ 0
Expenses:
Research and development	155,437	69,451	260,807	82,199
General and administrative	315,489	32,665	596,820	64,381
Interest	81,497	6,736	123,663	11,307
Total expenses	552,423	108,852	981,290	157,887
Other Expense
Net loss	$ (552,423)	$ (108,852)	$ (981,290)	$ (157,887)
Loss per share:
Basic and diluted (in dollars per share)	$ (0.112)		$ (0.199)
Weighted average shares outstanding, basic and diluted (in shares)	4,939,182		4,939,182

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) - 6 months ended Jun. 30, 2017 - USD ($)	Total	Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Common Stock	Additional Paid-In Capital	Accumulated Deficit
Balance at Dec. 31, 2016	$ 3,964	$ 69	$ 1,312	$ 988	$ 881,699	$ (880,104)
Balance (in shares) at Dec. 31, 2016		345,000	6,558,345	4,939,182
Recognition of beneficial conversion feature	350,000	$ 0	$ 0	$ 0	350,000	0
Options issued to purchase common stock	50,000				50,000
Net loss for the period	(981,290)	0	0	0	0	(981,290)
Balance at Jun. 30, 2017	$ (577,326)	$ 69	$ 1,312	$ 988	$ 1,281,699	$ (1,861,394)
Balance (in shares) at Jun. 30, 2017		345,000	6,558,345	4,939,182

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (DEFICIENCY) (Parenthetical)	1 Months Ended
	Jun. 28, 2017
Stockholders' Equity, Reverse Stock Split	one for 300

CONDENSED CONSOLIDATED STATEME7

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash Flows from Operating Activities
Net loss	$ (981,290)	$ (157,887)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	498	558
Amortization - intangible assets	46,782	556
Amortization - debt discount	34,200	0
Options issued for common stock	50,000
Loss on sale of property and equipment	3,259	0
Change in:
Prepaid expenses	29,390	(22,133)
Accounts payable and accrued liabilities	359,702	30,075
Net cash used in operating activities	(457,459)	(148,831)
Cash Flows from Investing Activities
Purchase of property and equipment	(2,268)	0
Purchase of intangible assets	0	(20,000)
Net payments from related party	0	5,000
Proceeds from sale of property and equipment	2,500	0
Net cash provided by (used in) investing activities	232	(15,000)
Cash Flows from Financing Activities
Payments on insurance premium financing	(24,794)	0
Proceeds from note payable-related party	486,750	155,520
Net cash provided by financing activities	461,956	155,520
Net change in cash	4,729	(8,311)
Cash, beginning of period	594	8,811
Cash, end of period	5,323	500
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest	$ 626	$ 0

Business Organization, Nature o

Business Organization, Nature of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Organization, Nature of Business and Basis of Presentation	Note 1 – Business Organization, Nature of Business and Basis of Presentation Nature of Business On June 22, 2017, The Coretec Group Inc. (the “Group”) (formerly 3DIcon Corporation) filed an Amended Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Oklahoma, to (i) change its name from “3DIcon Corporation” to “The Coretec Group Inc.” (“Name Change”) and to (ii) effect a 1-for-300 The financial statements for all prior periods have been retroactively adjusted to reflect the Reverse Split which allowed the Company to have a sufficient number of common shares to convert our convertible notes, Series A and Series B Preferred shares into common shares. As a result of the reverse split, each three hundred (300) outstanding shares of pre-split common stock were automatically combined into one (1) share of post-split common stock. No fractional shares of the Company’s Common Stock were issued in connection with the Reverse Split. Shareholders who would otherwise be entitled to a fractional share will instead receive a new certificate rounding up their fractional share to the next nearest full share. The financial statements for all prior periods have been retroactively adjusted to reflect this stock split for both common stocks issued and options outstanding. The Coretec Group Inc. was incorporated on August 11, 1995, under the laws of the State of Oklahoma. The Company’s primary activity has been the raising of capital in order to pursue its goal of becoming a significant participant in the development, commercialization and marketing of next generation 3D display technologies. Coretec Industries, LLC (“Coretec”), a wholly owned subsidiary of The Coretec Group Inc. (collectively the “Company”), was organized on June 2, 2015 in the state of North Dakota. Coretec is currently developing, testing, and providing new and/or improved technologies, products, and service solutions for medical, electronic, photonic, display, and lighting markets among others. Reverse Acquisition On May 31, 2016, the Group entered into a Share Exchange Agreement (the “Share Exchange Agreement”) with Coretec and four Coretec members (the “Members”), which Members held all outstanding membership interests in Coretec. On September 30, 2016 (the “Closing Date”), the Group closed the transaction contemplated by the Share Exchange Agreement. Pursuant to the Share Exchange Agreement, the Members agreed to sell all their membership interests in Coretec to the Group in exchange for the Group’s issuance of an aggregate 4,760,872 65 Basis of Presentation The accompanying condensed consolidated financial statements of the Company have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. The Company believes that the disclosures made are adequate to make the information presented not misleading. These condensed consolidated financial statements should be read in conjunction with the Company’s year-end audited consolidated financial statements and related footnotes included in the previously filed Form 10-K, and in the opinion of management, reflects all adjustments necessary to present fairly the condensed consolidated financial position of the Company. The condensed consolidated results of operations for interim periods may not be indicative of the results which may be realized for the full year. Under accounting principles generally accepted in the United States of America (“U.S. GAAP”), the acquisition is treated as a “reverse acquisition” under the purchase method of accounting (see Note 4). The pre-merger financial statements reflect the operations of Coretec. The Group’s assets and liabilities were consolidated with the assets and liabilities of Coretec as of the September 30, 2016 consummation of the acquisition. The number of shares issued and outstanding and additional paid-in capital of the Company have been retroactively adjusted to reflect the equivalent number of shares issued by the Company in the Share Exchange, while Coretec’s historical members’ deficit is being carried forward as the Group’s accumulated deficit. All costs attributable to the reverse merger were expensed.

Going Concern and Management_s

Going Concern and Management’s Plans	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern and Management's Plans	Note 2 – Going Concern and Management’s Plans The Company has realized a cumulative net loss of $ 1,861,394 2,053,412 The ability of the Company to continue as a going concern depends on the successful completion of the Company's capital raising efforts to fund the development of its planned products. The Company intends to continue to raise additional capital through debt and equity financings. There is no assurance that these funds will be sufficient to enable the Company to fully complete its development activities or attain profitable operations. If the Company is unable to obtain such additional financing on a timely basis or, notwithstanding any request the Company may make, the Company’s debt holders do not agree to convert their notes into equity or extend the maturity dates of their notes, the Company may have to curtail its development, marketing and promotional activities, which would have a material adverse effect on the Company’s business, financial condition and results of operations, and ultimately the Company could be forced to discontinue its operations and liquidate. The accompanying condensed consolidated financial statements have been prepared in conformity with U.S. GAAP, which contemplates the continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the condensed consolidated financial statements do not necessarily purport to represent realizable or settlement values. The condensed consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 3 – Summary of Significant Accounting Policies The consolidated condensed balance sheets as of June 30, 2017 and December 31, 2016 include the accounts of the Group and its wholly owned subsidiary, Coretec. The consolidated condensed statements of operations for the three and six months ended June 30, 2017 and cash flows for the six months ended June 30, 2017 include the accounts of the Group and its wholly owned subsidiary, Coretec. The consolidated condensed statements of operations for the three and six months ended June 30, 2016 and cash flows for the six months ended June 30, 2016 include the historical results of Coretec prior to the completion of the reverse acquisition since it was determined to be the accounting acquirer, and do not include the historical results of operations or cash flows for the Group prior to the completion of the acquisition. Intercompany transactions and balances have been eliminated in consolidation. Certain amounts in prior periods have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported net loss. The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingent assets and liabilities. Actual results could differ from the estimates and assumptions used. Long-lived assets, such as property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third party independent appraisals, as considered necessary. The following methods and assumptions were used to estimate the fair value of each class of financial instrument held by the Company: Current assets and current liabilities Notes payable – The Company accounts for convertible notes payable in accordance with the guidelines established by the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 470-20, Debt with Conversion and Other Options, Emerging Issues Task Force ("EITF") 98-5, Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios, and EITF 00-27, Application of Issue No 98-5 To Certain Convertible Instruments. The beneficial conversion feature of a convertible note is normally characterized as the convertible portion or feature of certain notes payable that provide a rate of conversion that is below market value or in-the-money when issued. The Company records a beneficial conversion feature related to the issuance of a convertible note when issued. The beneficial conversion feature of a convertible note is credited to additional paid-in-capital. The intrinsic value is recorded in the consolidated financial statements as a debt discount and such discount is amortized over the expected term of the convertible note and is charged to interest expense. Basic loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or other instruments to issue common stock were exercised or converted into common stock. Since the Closing Date of the Share Exchange on September 30, 2016 and no common stock was issued to Coretec in the reverse acquisition, the Company did not compute weighted average common shares outstanding for the periods ended June 30, 2016. June 30, 2017 2016 Options 284,166 - Warrants 65,228 - Series A convertible preferred stock 115,000 - Series B convertible preferred stock 41,842,241 41,842,241 Convertible debentures 61,122,346 - Total potentially dilutive shares 103,428,981 41,842,241 The table above for all periods has been retroactively adjusted to reflect the Reverse Split. Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the condensed consolidated financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements, except as disclosed. The following is a summary of recent accounting pronouncements that are relevant to the Company: In February 2016, the FASB issued accounting standards update (ASU) No. 2016-02, Leases (Topic 842)

Share Exchange Agreement

Share Exchange Agreement	6 Months Ended
	Jun. 30, 2017
Share Exchange Agreement [Abstract]
Share Exchange Agreement	Note 4 – Share Exchange Agreement On May 31, 2016, the Group entered into a Share Exchange Agreement with Coretec and its Members, which Members held all outstanding membership interests in Coretec. Pursuant to the Share Exchange Agreement, the Members agreed to sell all their membership interests in Coretec to the Group in exchange for the Group’s issuance of an aggregate 4,760,872 65 35 June 30, 2016 Three Months Ended Six Months Ended Net revenues $ - $ - Net loss $ (559,476) $ (851,158)

Debentures and Notes Payable

Debentures and Notes Payable	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debentures and Notes Payable	Note 5 – Debentures and Notes Payable June 30, December 31, 2017 2016 Notes and debentures payable: 5.25% Insurance premium finance agreement, due June 2017 $ - $ 24,794 9% Promissory note due June 2017 25,341 25,341 4.75% Convertible debenture due December 2017 64,124 64,124 Total notes and debentures payable $ 89,465 $ 114,259 Notes payable - related party: 14% Term loan due June 2018 $ 213,993 $ 213,993 14% Term loan due June 2018 576,500 440,500 14% Term loan due June 2018 400,582 399,832 7% Convertible promissory note due March 2019, net 32,967 - 7% Convertible promissory note due June 2019, net 1,233 - Total notes payable - related party 1,225,275 1,054,325 Less current portion (1,191,075) - Long term debt $ 34,200 $ 1,054,325 5.25% Insurance premium finance agreement, due June 2017 The Company made payments of $ 24,794 9 On February 21, 2017, the Group received a letter from Golden State Equity Investors, Inc. (“Golden State”), the holder of the note, extending the maturity date of the 9% promissory note to June 1, 2017 with the condition that if the Reverse Split occurred by June 1, 2017, the maturity date of the note would be further extended to April 1, 2018. The Reverse Split did not occur until June 28, 2017 and the Group is in default on the 9% note. During default, the unpaid principal balance and unpaid accrued interest will accrue interest at 14% and all unpaid principal and interest may become immediately due under the terms of the note. The Group is currently in discussions with Golden Gate to further extend the maturity date of the note and cure the default. 14% Term loan due June 2018, related party Mr. Victor Keen, Co-Chairman of the Board of Directors, advanced an additional $ 136,000 576,500 14 59,945 39,427 As of June 30, 2017, Carlton James North Dakota Limited (“CJNDL”), a company owned by Mr. Simon Calton, Co-Chairman of the Board of Directors, has advanced $ 614,575 93,896 43,105 7 On March 30, 2017, the Company issued to Mr. Victor Keen, Co-Chairman of the Board of Directors, a 7% convertible promissory note in a principal amount of $ 250,000 8 250,000 4,599 32,967 7 On June 21, 2017, the Company issued to Mr. Victor Keen, Co-Chairman of the Board of Directors, a 7% convertible promissory note in a principal amount of $ 100,000 4 100,000 175 1,233

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 6 – Commitments and Contingencies Litigation, Claims, and Assessments The Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. In the opinion of management, such matters are currently not expected to have a material impact on the Company’s consolidated financial statements. The Company records legal costs associated with loss contingencies as incurred and accrues for all probable and estimable settlements. Supply Agreement On December 13, 2016, the Company entered into a Supply Agreement (the “Supply Agreement”) with Gelest Inc., a Pennsylvania corporation (“Gelest”). This Supply Agreement is for the purchase and sale of Cyclohexasilane (“CHS“) or the “Products”) as set forth in the Supply Agreement, pursuant to which the Company agrees to use Gelest as a primary source to manufacture the Products for the duration of three years from the effective date. An initial estimate of pricing for the Products is set forth in the Supply Agreement, which varies from $ 28 35 Under the terms of the Supply Agreement, Gelest will scale-up production of CHS, within their available capacity of 12-18 Kg per year, and further optimize the manufacturing process licensed by the purchaser from NDSU Research Foundation (“NDSU/RF”). The term of this project is 90 days from the receipt of the first installment of YSi6Cl14 salt from the purchaser. The cost for scale-up and manufacturing optimization is $ 180,000 18,000 162,000 200 400 Office Lease The Company entered into a lease agreement in June 2015 for office space in North Dakota that was canceled on April 30, 2017 with no cancellation costs paid or due. 19,500 14,936

Research Grant North Dakota

Research Grant North Dakota	6 Months Ended
	Jun. 30, 2017
Research and Development [Abstract]
Research Grant North Dakota	Note 7 – Research Grant North Dakota The North Dakota Center of Excellence Commission awarded a funding request for Research North Dakota (“RND”) grant to NDSU Chemistry and Biochemistry in partnership with the Company. RND promotes the development and commercialization of products and processes through industry/university research partnerships. RND provides matching funds to help companies pay for the university research. 150,000 grant for the three months and six months periods ended June 30, 2017.

Options Issued to Purchase Comm

Options Issued to Purchase Common Stock	6 Months Ended
	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Options Issued to Purchase Common Stock	Note 8 – Options Issued to Purchase Common Stock On March 21, 2017, the Company and Mr. Michael Kraft entered into a Consulting Agreement, pursuant to which the Company granted Mr. Kraft an option to purchase from the Company $50,000 of stock at the market price on the date of the execution of the Reverse Split, which became effective on June 28, 2017. Accordingly, the $50,000 value of options calculates to 208,160 shares based upon the $0.24 closing price on June 28, 2017. The $50,000 estimated fair value of options to purchase common stock issued in 2017 was determined using the Black-Scholes option pricing model. The expected dividend yield of $0 is based on the average annual dividend yield at the date issued. Expected volatility of 260.52% is based on the historical volatility of the stock. The risk-free interest rate of 1.84% is based on the U.S. Treasury Constant Maturity rates as of the issue date. The expected life of the warrants of ten years is based on historical exercise behavior and expected future experience.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Note 9 – Subsequent Events On July 27, 2017, the Company converted the total outstanding Series B Preferred shares of 6,558,345 41,842,241

Summary of Significant Accoun17

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated condensed balance sheets as of June 30, 2017 and December 31, 2016 include the accounts of the Group and its wholly owned subsidiary, Coretec. The consolidated condensed statements of operations for the three and six months ended June 30, 2017 and cash flows for the six months ended June 30, 2017 include the accounts of the Group and its wholly owned subsidiary, Coretec. The consolidated condensed statements of operations for the three and six months ended June 30, 2016 and cash flows for the six months ended June 30, 2016 include the historical results of Coretec prior to the completion of the reverse acquisition since it was determined to be the accounting acquirer, and do not include the historical results of operations or cash flows for the Group prior to the completion of the acquisition. Intercompany transactions and balances have been eliminated in consolidation.
Reclassification	Reclassification Certain amounts in prior periods have been reclassified to conform to the current period presentation. These reclassifications had no effect on previously reported net loss.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, expenses and the disclosure of contingent assets and liabilities. Actual results could differ from the estimates and assumptions used.
Long-Lived Assets	Long-Lived Assets Long-lived assets, such as property and equipment and intangible assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If circumstances require a long-lived asset or asset group be tested for possible impairment, the Company first compares undiscounted cash flows expected to be generated by that asset or asset group to its carrying value. If the carrying value of the long-lived asset or asset group is not recoverable on an undiscounted cash flow basis, impairment is recognized to the extent that the carrying value exceeds its fair value. Fair value is determined through various valuation techniques including discounted cash flow models, quoted market values and third party independent appraisals, as considered necessary.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The following methods and assumptions were used to estimate the fair value of each class of financial instrument held by the Company: Current assets and current liabilities Notes payable –
Beneficial Conversion Feature of Convertible Notes Payable	Beneficial Conversion Feature of Convertible Notes Payable The Company accounts for convertible notes payable in accordance with the guidelines established by the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 470-20, Debt with Conversion and Other Options, Emerging Issues Task Force ("EITF") 98-5, Accounting for Convertible Securities with Beneficial Conversion Features or Contingently Adjustable Conversion Ratios, and EITF 00-27, Application of Issue No 98-5 To Certain Convertible Instruments. The beneficial conversion feature of a convertible note is normally characterized as the convertible portion or feature of certain notes payable that provide a rate of conversion that is below market value or in-the-money when issued. The Company records a beneficial conversion feature related to the issuance of a convertible note when issued. The beneficial conversion feature of a convertible note is credited to additional paid-in-capital. The intrinsic value is recorded in the consolidated financial statements as a debt discount and such discount is amortized over the expected term of the convertible note and is charged to interest expense.
Basic and Diluted Loss Per Common Share	Basic loss per common share is computed by dividing net loss by the weighted average number of vested common shares outstanding during the period. Diluted loss per share reflects the potential dilution that could occur if securities or other instruments to issue common stock were exercised or converted into common stock. Since the Closing Date of the Share Exchange on September 30, 2016 and no common stock was issued to Coretec in the reverse acquisition, the Company did not compute weighted average common shares outstanding for the periods ended June 30, 2016. June 30, 2017 2016 Options 284,166 - Warrants 65,228 - Series A convertible preferred stock 115,000 - Series B convertible preferred stock 41,842,241 41,842,241 Convertible debentures 61,122,346 - Total potentially dilutive shares 103,428,981 41,842,241 “The financial statements for all periods have been retroactively adjusted to reflect the reverse split”
Subsequent Events	Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the condensed consolidated financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements, except as disclosed.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The following is a summary of recent accounting pronouncements that are relevant to the Company: In February 2016, the FASB issued accounting standards update (ASU) No. 2016-02, Leases (Topic 842)

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following securities are excluded from the calculation of weighted average dilutive common shares because their inclusion would have been anti-dilutive: June 30, 2017 2016 Options 284,166 - Warrants 65,228 - Series A convertible preferred stock 115,000 - Series B convertible preferred stock 41,842,241 41,842,241 Convertible debentures 61,122,346 - Total potentially dilutive shares 103,428,981 41,842,241

Share Exchange Agreement (Table

Share Exchange Agreement (Tables)	6 Months Ended
	Jun. 30, 2017
Share Exchange Agreement [Abstract]
Pro Forma Information	The following unaudited pro forma results for the three and six months ended June 30, 2016 summarizes the consolidated results of operations of the Company, assuming the reverse acquisition had occurred on January 1, 2016 and after giving effect to the reverse acquisition adjustments, including amortization of tangible and intangible assets acquired in the transaction: June 30, 2016 Three Months Ended Six Months Ended Net revenues $ - $ - Net loss $ (559,476) $ (851,158)

Debentures and Notes Payable (T

Debentures and Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Debentures Payable	June 30, December 31, 2017 2016 Notes and debentures payable: 5.25% Insurance premium finance agreement, due June 2017 $ - $ 24,794 9% Promissory note due June 2017 25,341 25,341 4.75% Convertible debenture due December 2017 64,124 64,124 Total notes and debentures payable $ 89,465 $ 114,259 Notes payable - related party: 14% Term loan due June 2018 $ 213,993 $ 213,993 14% Term loan due June 2018 576,500 440,500 14% Term loan due June 2018 400,582 399,832 7% Convertible promissory note due March 2019, net 32,967 - 7% Convertible promissory note due June 2019, net 1,233 - Total notes payable - related party 1,225,275 1,054,325 Less current portion (1,191,075) - Long term debt $ 34,200 $ 1,054,325

Business Organization, Nature21

Business Organization, Nature of Business and Basis of Presentation - Additional Information (Detail) - shares	1 Months Ended
	Jun. 28, 2017	May 31, 2016
Stockholders' Equity, Reverse Stock Split	one for 300
Series B Convertible Preferred Stock [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities		4,760,872
Sale of Stock, Percentage of Ownership after Transaction		65.00%

Going Concern and Management_22

Going Concern and Management’s Plans - Additional Information (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Retained Earnings (Accumulated Deficit), Total	$ 1,861,394	$ 880,104
Working Capital Deficit	$ 2,053,412

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Schedule of antidilutive securities excluded from computation of earnings per share) (Details) - shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	103,428,981	41,842,241
Convertible debentures [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	61,122,346	0
Series A Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	115,000	0
Series B Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	41,842,241	41,842,241
Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	65,228	0
Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total potentially dilutive shares	284,166	0

Share Exchange Agreement ( incl

Share Exchange Agreement ( including amortization of tangible and intangible assets acquired in the transaction) (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Net revenues	$ 0	$ 0
Net loss	$ (559,476)	$ (851,158)

Share Exchange Agreement - Addi

Share Exchange Agreement - Additional Information (Detail)	1 Months Ended
	May 31, 2016shares
Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of Stock, Percentage of Ownership after Transaction	35.00%
Coretec Industries LLC [Member] | Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Sale of Stock, Percentage of Ownership after Transaction	65.00%
Series B Convertible Preferred Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock Issued During Period, Shares, Conversion of Convertible Securities	4,760,872
Sale of Stock, Percentage of Ownership after Transaction	65.00%

Debentures and Notes Payable (D

Debentures and Notes Payable (Detail) - USD ($)	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Total notes and debentures payable	$ 89,465	$ 114,259
Total notes payable - related party	1,225,275	1,054,325
Less current portion	(1,191,075)	0
Long term debt	34,200	1,054,325
9% Promissory note due June 2017 [Member]
Debt Instrument [Line Items]
Total notes and debentures payable	25,341	25,341
5.25% Insurance premium finance agreement, due June 2017 [Member]
Debt Instrument [Line Items]
Total notes and debentures payable	0	24,794
4.75% Convertible debenture due December 2017 [Member]
Debt Instrument [Line Items]
Total notes and debentures payable	64,124	64,124
14% Term loan due June 2018 [Member]
Debt Instrument [Line Items]
Total notes payable - related party	213,993	213,993
14% Term loan due June 2018 [Member]
Debt Instrument [Line Items]
Total notes payable - related party	576,500	440,500
14% Term loan due June 2018 [Member]
Debt Instrument [Line Items]
Total notes payable - related party	400,582	399,832
7% Convertible promissory note due March 2019, net [Member]
Debt Instrument [Line Items]
Total notes payable - related party	32,967	0
7% Convertible promissory note due June 2019, net [Member]
Debt Instrument [Line Items]
Total notes payable - related party	$ 1,233	$ 0

Debentures and Notes Payable -

Debentures and Notes Payable - Additional Information (Detail) - USD ($)	1 Months Ended		6 Months Ended
	Jun. 21, 2017	Mar. 30, 2017	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Debt Conversion [Line Items]
Proceeds from Related Party Debt			$ 486,750	$ 155,520
Payments to Acquire Life Insurance Policies			24,794	0
Notes Payable, Related Parties, Noncurrent			34,200		$ 1,054,325
Interest Payable Current			158,615		$ 17,615
Amortization Of Debt Discount Premium			$ 34,200	$ 0
9% Promissory note due June 2017 [Member]
Debt Conversion [Line Items]
Debt Instrument Converted, Conversion Percentage			9.00%
Term Loan Fourteen Percentage One [Member] | Director [Member]
Debt Conversion [Line Items]
Proceeds from Related Party Debt			$ 614,575
Interest Payable Current			93,896
Interest Expense, Debt			$ 43,105
Term Loan Fourteen Percentage Two [Member] | Chief Executive Officer [Member]
Debt Conversion [Line Items]
Convertible Debenture, interest rate			14.00%
Proceeds from Related Party Debt			$ 136,000
Notes Payable, Related Parties, Noncurrent			576,500
Interest Payable Current			59,945
Interest Expense, Debt			39,427
Amortization Of Debt Discount Premium			32,967
Seven Percent Convertible Promissory Note One [Member]
Debt Conversion [Line Items]
Debt Instrument Face Amount		$ 250,000
Convertible Debenture, interest rate		7.00%
Interest Expense, Debt			4,599
Debt Instrument Converted, Conversion Percentage		8.00%
Debt Instrument, Unamortized Discount		$ 250,000
Seven Percent Convertible Promissory Note Two [Member]
Debt Conversion [Line Items]
Debt Instrument Face Amount	$ 100,000
Convertible Debenture, interest rate	7.00%
Interest Expense, Debt			175
Debt Instrument Converted, Conversion Percentage	4.00%
Amortization Of Debt Discount Premium			$ 1,233
Debt Instrument, Unamortized Discount	$ 100,000

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Dec. 13, 2016	Jun. 30, 2017	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Product Scale-Up And Manufacturing Optimization Cost	$ 180,000
Product Scale-Up And Manufacturing Optimization Cost, First Installment	18,000
Product Scale-Up And Manufacturing Optimization Cost, Second Installment	$ 162,000
Operating Leases, Rent Expense		$ 19,500	$ 14,936
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Product Price Per Gram	$ 28
Shipment Product Price Per Gram	200
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Product Price Per Gram	35
Shipment Product Price Per Gram	$ 400

Research Grant North Dakota - A

Research Grant North Dakota - Additional Information (Detail)	1 Months Ended
	Apr. 30, 2017USD ($)
Research and Development Arrangement, Contract to Perform for Others, Costs Incurred, Gross	$ 150,000

Options Issued to Purchase Co30

Options Issued to Purchase Common Stock - Additional Information (Detail) - USD ($)	1 Months Ended	6 Months Ended
	Mar. 21, 2017	Jun. 30, 2017	Jun. 28, 2017
Class of Stock [Line Items]
Stock Issued During Period, Value, Share-based Compensation, Gross		$ 50,000
Fair Value Assumptions, Expected Dividend Rate		0.00%
Fair Value Assumptions, Expected Volatility Rate		260.52%
Fair Value Assumptions, Risk Free Interest Rate		1.84%
Michael Kraft [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, Share-based Compensation, Gross	208,160
Stock Issued During Period, Value, Share-based Compensation, Gross	$ 50,000
Share Price			$ 0.24

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member]	1 Months Ended
	Jul. 27, 2017shares
Series B Preferred Stock [Member]
Subsequent Event [Line Items]
Conversion of Stock, Shares Converted	6,558,345
Common Stock [Member]
Subsequent Event [Line Items]
Conversion of Stock, Shares Issued	41,842,241