Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 06, 2013 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'AtheroNova Inc. | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 41,584,020 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001377053 | ' |
Entity Current Reporting Status | 'Yes | ' |
Entity Voluntary Filers | 'No | ' |
Entity Filer Category | 'Smaller Reporting Company | ' |
Entity Well-known Seasoned Issuer | 'No | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current Assets | ' | ' |
Cash | $860,160 | $2,744,046 |
Other Current Assets | 23,885 | 17,622 |
Total Current Assets | 884,045 | 2,761,668 |
Equipment, net | 7,240 | 8,514 |
Deposits and other assets | 16,540 | 23,777 |
Total Assets | 907,825 | 2,793,959 |
Liabilities and Stockholders’ Equity (Deficiency) | ' | ' |
Accounts payable and accrued expenses | 372,761 | 603,629 |
Current portion of 2.5% Senior convertible notes, net of discount of $64,095 | 363,405 | ' |
Interest payable | 66,254 | 37,016 |
Total Current Liabilities | 802,420 | 640,645 |
2.5% Senior secured convertible notes, net of current portion | 1,170,333 | 1,762,833 |
Discount on convertible notes | -880,347 | -1,402,030 |
2.5% Senior secured convertible notes, net of discount | 289,986 | 360,803 |
Stockholders’ Equity (Deficiency): | ' | ' |
Preferred stock $0.0001 par value, 10,000,000 shares authorized, none outstanding at September 30, 2013 and December 31, 2012 | 0 | 0 |
Common stock $0.0001 par value, 100,000,000 shares authorized, 41,584,020 and 37,223,640 outstanding at September 30, 2013 and December 31, 2012, respectively | 4,147 | 3,711 |
Additional paid in capital | 19,369,906 | 16,003,872 |
Deficit accumulated during the development stage | -19,558,634 | -14,215,072 |
Total stockholders’ equity (deficiency) | -184,581 | 1,792,511 |
Total Liabilities and Stockholders’ Equity (Deficiency) | $907,825 | $2,793,959 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Current portion of 2.5% Senior convertible notes, discount (in Dollars) | $64,095 | ' |
Interest rate on senior secured convertible notes | 2.50% | 2.50% |
Preferred stock par value (in Dollars per share) | $0.00 | $0.00 |
Preferred stock shares authorized (in Shares) | 10,000,000 | 10,000,000 |
Preferred stock outstanding (in Shares) | 0 | 0 |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common stock shares authorized (in Shares) | 100,000,000 | 100,000,000 |
Common stock shares outstanding (in Shares) | 41,584,020 | 37,223,640 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Operations (Unaudited) (USD $) | 3 Months Ended | 9 Months Ended | 82 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Revenue, net | $0 | $0 | $0 | ' | ' |
Operating expenses: | ' | ' | ' | ' | ' |
Research and development | 255,028 | 184,868 | 876,033 | 560,439 | 2,735,369 |
Research and development-related party | ' | ' | 1,198,297 | ' | 1,198,297 |
General and administrative expenses | 788,864 | 474,131 | 2,778,599 | 1,750,155 | 9,511,686 |
Impairment charge-intellectual property | ' | ' | ' | ' | 572,868 |
Total operating expenses | 1,043,892 | 658,999 | 4,852,929 | 2,310,594 | 14,018,220 |
Loss from operations | -1,043,892 | -658,999 | -4,852,929 | -2,310,594 | -14,018,220 |
Other income (expenses): | ' | ' | ' | ' | ' |
Other income (expense) | 230 | 134 | 2,323 | 509 | 8,705 |
Merger-related expenses | ' | ' | ' | ' | -323,294 |
Cancellation of related-party debt | ' | ' | ' | ' | 100,000 |
Interest expense | -110,073 | -200,380 | -491,591 | -395,154 | -2,371,105 |
Private placement costs | ' | ' | ' | ' | -2,148,307 |
Cost to induce conversion of 12% notes | ' | ' | ' | ' | -866,083 |
Gain on conversion of debt | ' | ' | ' | 97,975 | 909,368 |
Gain (loss) on change in fair value of derivative liabilities | ' | ' | ' | 2,640,497 | -839,569 |
Net income (loss) before income taxes | -1,153,735 | -859,245 | -5,342,197 | 33,233 | -19,548,505 |
Provision for income taxes | ' | ' | 1,365 | 1,365 | 10,129 |
Net income (loss) | ($1,153,735) | ($859,245) | ($5,343,562) | $31,868 | ($19,558,634) |
Basic income (loss) per share (in Dollars per share) | ($0.03) | ($0.03) | ($0.13) | $0 | ' |
Diluted income (loss) per share (in Dollars per share) | ($0.03) | ($0.03) | ($0.13) | $0 | ' |
Basic weighted average shares outstanding (in Shares) | 41,317,353 | 28,935,233 | 39,778,101 | 28,663,035 | ' |
Diluted weighted average shares outstanding (in Shares) | 41,317,353 | 28,935,233 | 39,778,101 | 31,331,702 | ' |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) (USD $) | First Issuance [Member] | First Issuance [Member] | First Issuance [Member] | Second Issuance [Member] | Second Issuance [Member] | Second Issuance [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Common Stock [Member] | Additional Paid-in Capital [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | |||||||
Balance – December 31, 2012 at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | $3,711 | $16,003,872 | ($14,215,072) | $1,792,511 |
Balance – December 31, 2012 (in Shares) at Dec. 31, 2012 | ' | ' | ' | ' | ' | ' | 37,223,640 | ' | ' | ' |
Common stock issued upon exercise of warrants at $0.223 per share | ' | ' | ' | ' | ' | ' | 86 | 149,961 | ' | 150,047 |
Common stock issued upon exercise of warrants at $0.223 per share (in Shares) | ' | ' | ' | ' | ' | ' | 859,235 | ' | ' | ' |
Issuance of common stock for cash, amount | 80 | 519,921 | 520,001 | 12 | 116,988 | 117,000 | ' | ' | ' | ' |
Issuance of common stock for cash, shares (in Shares) | 800,002 | ' | ' | 120,619 | ' | ' | ' | ' | ' | ' |
Fair value of vested options and warrants | ' | ' | ' | ' | ' | ' | ' | 725,442 | ' | 725,442 |
Fair value of shares transferred or sold to employees and directors by controlling stockholder | ' | ' | ' | ' | ' | ' | ' | 481,400 | ' | 481,400 |
Fair value of common stock issued upon conversion of notes payable | ' | ' | ' | ' | ' | ' | 58 | 169,707 | ' | 169,765 |
Fair value of common stock issued upon conversion of notes payable (in Shares) | ' | ' | ' | ' | ' | ' | 576,907 | ' | ' | ' |
Fair value of common stock issued for services | ' | ' | ' | ' | ' | ' | 200 | 1,198,097 | ' | 1,198,297 |
Fair value of common stock issued for services (in Shares) | ' | ' | ' | ' | ' | ' | 1,997,161 | ' | ' | ' |
Fair value of stock issued to settle accounts payable | ' | ' | ' | ' | ' | ' | ' | 4,518 | ' | 4,518 |
Fair value of stock issued to settle accounts payable (in Shares) | ' | ' | ' | ' | ' | ' | 6,456 | ' | ' | ' |
Net loss | ' | ' | ' | ' | ' | ' | ' | ' | -5,343,562 | -5,343,562 |
Balance – September 30, 2013 at Sep. 30, 2013 | ' | ' | ' | ' | ' | ' | $4,147 | $19,369,906 | ($19,558,634) | ($184,581) |
Balance – September 30, 2013 (in Shares) at Sep. 30, 2013 | ' | ' | ' | ' | ' | ' | 41,584,020 | ' | ' | ' |
Condensed_Consolidated_Stateme2
Condensed Consolidated Statements of Stockholders’ Equity (Unaudited) (Parentheticals) (USD $) | 9 Months Ended |
Sep. 30, 2013 | |
Exercise price (in Dollars per Item) | 0.75 |
Share price (in Dollars per share) | $0.57 |
First Issuance [Member] | Common Stock [Member] | ' |
Share price (in Dollars per share) | $0.65 |
Second Issuance [Member] | Common Stock [Member] | ' |
Share price (in Dollars per share) | $0.97 |
Common Stock [Member] | ' |
Exercise price (in Dollars per Item) | 0.223 |
Condensed_Consolidated_Stateme3
Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $) | 9 Months Ended | 82 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | |
Operating Activities: | ' | ' | ' |
Net income (loss) | ($5,343,562) | $31,868 | ($19,558,634) |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ' | ' | ' |
Loss on settlement of payables and accrued interest | 6,980 | 19,439 | 105,713 |
Amortization of debt discount | 457,588 | 384,605 | 2,167,077 |
Depreciation | 3,194 | 2,145 | 10,699 |
Fair value of vested options and warrants | 725,442 | 696,795 | 3,297,198 |
Fair value of common stock issued for services | 1,198,297 | ' | 1,717,397 |
Fair value of shares transferred or sold to employees, directors and vendors by controlling stockholder | 481,400 | 123,050 | 604,450 |
Impairment charge-intellectual property | ' | ' | 572,867 |
Cost of private placement | ' | ' | 2,148,307 |
Cost to induce conversion of 12% notes | ' | ' | 866,083 |
Gain on conversion of debt | ' | -97,975 | -909,368 |
Change in fair value of derivative liabilities | ' | -2,640,497 | 839,569 |
Cancellation of debt | ' | ' | -100,000 |
Changes in operating assets and liabilities: | ' | ' | ' |
Other assets | 974 | -33,514 | -40,425 |
Accounts payable and accrued expenses | -199,327 | 143,904 | 638,710 |
Net cash used in operating activities | -2,669,014 | -1,370,180 | -7,640,357 |
Investing Activities | ' | ' | ' |
Purchase of equipment | -1,920 | -4,300 | -17,939 |
Investment in intellectual property | ' | ' | -372,867 |
Cash received from reverse merger | ' | ' | 1,281 |
Net cash used in investing activities | -1,920 | -4,300 | -389,525 |
Financing Activities | ' | ' | ' |
Proceeds from issuance of common stock | 787,048 | ' | 5,366,503 |
Proceeds from convertible notes-short term | ' | 645,200 | 645,200 |
Repayment of convertible notes-short term | ' | ' | -15,000 |
Proceeds from sale of 2.5% senior secured convertible notes, net | ' | 500,000 | 2,893,339 |
Net cash provided by financing activities | 787,048 | 1,145,200 | 8,890,042 |
Net change in cash | -1,883,886 | -229,280 | 860,160 |
Cash - beginning balance | 2,744,046 | 616,067 | ' |
Cash - ending balance | 860,160 | 386,787 | 860,160 |
Supplemental disclosure of cash flow information: | ' | ' | ' |
Cash paid for income taxes | 1,365 | 1,365 | 10,129 |
Cash paid for interest expense | ' | ' | 32,666 |
Supplemental disclosure of non-cash investing and financing transactions: | ' | ' | ' |
Stockholder notes issued in exchange for intellectual property | ' | ' | 200,000 |
Conversion of convertible notes and interest payable to common stock | 169,765 | 75,805 | 2,190,616 |
Derivative liability created on issuance of convertible notes and warrants created | ' | ' | 1,500,000 |
Reclass of accounts payable to related party notes | ' | ' | 100,000 |
Common stock issued to settle accounts payable | 4,518 | 23,748 | 101,265 |
Derivative liability extinguished upon modification of 2.5% convertible notes | ' | 3,472,549 | 3,472,549 |
Fair value of warrants and beneficial conversion feature associated with issued convertible notes | ' | 1,556,720 | 1,556,720 |
Discount on short term notes payable | 944,442 | ' | 944,442 |
Convertible Debt Securities, Short-term [Member] | ' | ' | ' |
Supplemental disclosure of non-cash investing and financing transactions: | ' | ' | ' |
Discount on short term notes payable | $58,387 | $58,387 | $58,387 |
Note_0
Note 0 | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Basis of Accounting [Text Block] | ' |
The accompanying condensed consolidated financial statements of AtheroNova Inc. and subsidiary (“AtheroNova,” “we,” “us, “our” and “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and the rules and regulations of the Securities and Exchange Commission (“SEC”). Accordingly, the unaudited condensed consolidated financial statements do not include all information and footnotes required by accounting principles generally accepted in the United States of America for complete annual financial statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair presentation. Interim operating results are not necessarily indicative of results that may be expected for the year ending December 31, 2013 or for any other interim period. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements as of and for the year ended December 31, 2012, which are included in the Company’s Report on Form 10-K for such year filed on April 1, 2013. The condensed consolidated balance sheet as of December 31, 2012 has been derived from the audited financial statements included in the Form 10-K for that year. |
Note_1_Organization
Note 1 - Organization | 9 Months Ended |
Sep. 30, 2013 | |
Disclosure Text Block [Abstract] | ' |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | ' |
1. ORGANIZATION AND BUSINESS | |
Z&Z Medical Holdings, Inc. (“Z&Z Nevada”) was incorporated under the laws of the State of Nevada on December 13, 2006 (Inception). On November 30, 2009, a separate corporation named Z&Z Medical Holdings, Inc. (“Z&Z Delaware”) was incorporated under the laws of the State of Delaware and on March 3, 2010, Z&Z Nevada was merged into Z&Z Delaware. On May 13, 2010, pursuant to an Agreement and Plan of Merger dated March 26, 2010, our subsidiary, Z&Z Merger Corporation, merged with and into Z&Z Delaware and the surviving subsidiary corporation changed its name to AtheroNova Operations, Inc. (“AtheroNova Operations”). | |
As a result of the merger, AtheroNova is now engaged, through AtheroNova Operations, in development of pharmaceutical preparations and pharmaceutical intellectual property. The Company will continue to be a development stage company for the foreseeable future. | |
These condensed consolidated financial statements reflect the historical results of AtheroNova Operations prior to the merger and that of the combined company following the merger, and do not include the historical financial results of AtheroNova prior to the completion of the merger. Common stock and the corresponding capital amounts of the Company pre-merger have been retroactively restated as capital stock shares reflecting the exchange ratio in the merger and subsequent 1-for-200 reverse stock split effected on June 23, 2010. |
Note_2_Basis_of_Presentation_a
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Significant Accounting Policies [Text Block] | ' | ||||||||
2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |||||||||
The summary of significant accounting policies presented below is designed to assist in understanding the Company’s condensed consolidated financial statements. Such financial statements and accompanying notes are the representation of the Company’s management, who is responsible for their integrity and objectivity. | |||||||||
Use of Estimates | |||||||||
In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the condensed consolidated financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions included in the Company’s condensed consolidated financial statements relate to the valuation of long-lived assets, accrued other liabilities, and valuation assumptions related to share-based payments and derivative liability. | |||||||||
Going Concern | |||||||||
The accompanying condensed consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company is in the development stage and has not generated any revenues from operations to date, and does not expect to do so in the foreseeable future. The Company has experienced recurring operating losses and negative operating cash flows since inception, and has financed its working capital requirements through the recurring sale of its convertible notes and equity securities. As reflected in the accompanying condensed consolidated financial statements, the Company had a negative cash flow from operations of $2,669,014 for the period ended September 30, 2013 and accumulated deficit of $19,558,634 at September 30, 2013. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. As a result, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2012 financial statements, has raised substantial doubt about the Company’s ability to continue as a going concern. | |||||||||
Management is currently in the process of exploring private placements of securities by the Company to accredited investors, funds and institutional investors. Significant additional capital is needed to advance the Company’s research and development as well as providing general working capital. Management believes that current funds will be sufficient to fund operations through January 2014. There can be no assurances that sufficient subsequent funding, if any at all, will be raised by this or future offerings or that the cost of such funding will be reasonable. | |||||||||
In light of the foregoing, management will also seek funding through short-term and long-term loans, grants and other such funds available from private and public sources established to further research in health care and advancement of science. Management continues to meet with representatives of private and public sources of funding to continue the ongoing process of capital development sufficient enough to cover negative cash flows expected in future periods and will continue to do so in the coming months. | |||||||||
Principles of Consolidation | |||||||||
The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiary. Intercompany transactions and balances have been eliminated in consolidation. | |||||||||
Earnings and Loss per Share | |||||||||
The Company’s computation of earnings per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common stockholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., warrants and options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. | |||||||||
Income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted (loss) per common share is the same for periods in which the company reported an operating loss because all warrants and stock options outstanding are anti-dilutive. | |||||||||
A reconciliation of basic and diluted shares for the three months ended September 30, 2013 and 2012 follows: | |||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Average common shares outstanding-basic | 41,317,353 | 28,935,233 | |||||||
Effect of dilutive securities- | |||||||||
Warrants | - | - | |||||||
Employee and director stock options | - | - | |||||||
Average diluted shares | $ | 41,317,353 | $ | 28,935,233 | |||||
There were no adjustments to net income (loss) required for purposes of computing diluted earnings per share. | |||||||||
A reconciliation of basic and diluted shares for the nine months ended September 30, 2013 and 2012 follows: | |||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Average common shares outstanding-basic | 39,778,101 | 28,663,035 | |||||||
Effect of dilutive securities- | |||||||||
Warrants | - | 2,405,125 | |||||||
Employee and director stock options | - | 263,542 | |||||||
Average diluted shares | $ | 39,778,101 | $ | 31,331,702 | |||||
There were no adjustments to net income (loss) required for purposes of computing diluted earnings per share. | |||||||||
Warrants, options and other potentially dilutive securities are antidilutive and are excluded from the dilutive calculations when their exercise or conversion price exceeds the average stock market price during the period or the effect would be anti-dilutive when applied to a net loss during the period(s) presented. The following table sets forth the shares excluded from the diluted calculation for the three month periods presented as follows: | |||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Senior secured Convertible notes | 5,509,769 | 4,200,299 | |||||||
Convertible notes-short term | - | 1,400,000 | |||||||
Warrants | 8,539,367 | 3,984,595 | |||||||
Employee and director stock options | 5,539,498 | 4,294,456 | |||||||
Total potentially dilutive shares | $ | 19,588,634 | $ | 13,878,350 | |||||
Such securities could potentially dilute earnings per share in the future. | |||||||||
Derivative Financial Instruments | |||||||||
The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. For stock-based derivative financial instruments, the Company uses the weighted-average Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. | |||||||||
The Company had derivative liabilities in 2012 relating to purchase price adjustments on certain convertible notes and warrants issued in 2010. These agreements were modified in 2012 eliminating the reset provisions and the corresponding derivative liabilities. | |||||||||
Fair Value of Financial Instruments | |||||||||
Effective January 1, 2008, fair value measurements are determined by the Company’s adoption of authoritative guidance issued by the Financial Accounting Standards Board (“FASB”), with the exception of the application of the statement to non-recurring, non-financial assets and liabilities as permitted. The adoption of the authoritative guidance did not have a material impact on the Company’s fair value measurements. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows: | |||||||||
Level 1—Quoted prices in active markets for identical assets or liabilities. | |||||||||
Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly. | |||||||||
Level 3—Unobservable inputs based on the Company’s assumptions. | |||||||||
The Company is required to use observable market data if such data is available without undue cost and effort. | |||||||||
At September 30, 2013 and December 31, 2012, the fair values of cash and cash equivalents, and accounts payable approximate their carrying values. | |||||||||
Recently Issued Accounting Standards | |||||||||
In January 2013, the FASB issued Accounting Standard Update (“ASU”) 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. This ASU clarifies which instruments and transactions are subject to the offsetting disclosure requirements established by ASU 2011-11. This guidance is effective for annual and interim reporting periods beginning January 1, 2013. The Company does not believe the adoption of this update will have a material effect on its financial position and results of operations. | |||||||||
On March 4, 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). ASU 2013-05 updates accounting guidance related to the application of consolidation guidance and foreign currency matters. This guidance resolves the diversity in practice about what guidance applies to the release of the cumulative translation adjustment into net income. This guidance is effective for interim and annual periods beginning after December 15, 2013. The Company does not believe the adoption of this update will have a material effect on its financial position and results of operations. | |||||||||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Loss, or a Tax Credit Carryforward Exists. Topic 740, Income Taxes, does not include explicit guidance on the financial statement presented of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. There is diversity in practice in the presentation of unrecognized tax benefits in those instances and the amendments in this update are intended to eliminate that diversity in practice. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Early adoption is permitted. The Company does not believe the adoption of this update will have a material effect on its financial position and results of operations. | |||||||||
Other accounting pronouncements did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements. |
Note_3_25_Senior_Secured_Conve
Note 3 - 2.5% Senior Secured Convertible Notes Payable | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
3. 2.5% SENIOR SECURED CONVERTIBLE NOTES PAYABLE | |||||||||
Convertible notes payable consist of the following as of September 30, 2013 and December 31, 2012: | |||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
2010 Convertible Notes | $ | 427,500 | $ | 427,500 | |||||
2012 Convertible Notes | 1,170,333 | 1,335,333 | |||||||
1,597,833 | 1,762,833 | ||||||||
Less Valuation Discount | (944,442 | ) | (1,402,030 | ) | |||||
Convertible Notes Payable, net | $ | 653,391 | $ | 360,803 | |||||
2010 Convertible Notes | |||||||||
On May 13, 2010, the Company entered into a Securities Purchase Agreement with W-Net Fund I, L.P. (“W-Net”), Europa International, Inc. (“Europa”) and MKM Opportunity Master Fund, Ltd. (“MKM” and together with W-Net and Europa, the “Purchasers”), pursuant to which the Purchasers, on May 13, 2010, purchased from the Company (i) 2.5% Senior Secured Convertible Notes (the “Original Notes”) for a cash purchase price of $1,500,000, and (ii) Common Stock Purchase Warrants pursuant to which the Purchasers may purchase up to 1,908,798 shares of the Company’s common stock at an exercise price equal to approximately $0.39 per share (the “Capital Raise Transaction”), as amended. | |||||||||
The Original Notes accrued 2.5% interest per annum with a maturity of 4 years after the closing of the Capital Raise Transaction. No cash interest payments were required, except that accrued and unconverted interest is due on the maturity date and on each conversion date with respect to the principal amount being converted, provided that such interest may be added to and included with the principal amount being converted. If there is an uncured event of default (as defined in the Original Notes), the holder of each Original Note may declare the entire principal and accrued interest amount immediately due and payable. Default interest will accrue after an event of default at an annual rate of 12%. If there is an acceleration, a mandatory default amount equal to 120% of the unpaid Original Note principal plus accrued interest may be payable. | |||||||||
The Original Notes greatly restrict the ability of the Company and AtheroNova Operations to issue indebtedness or grant liens on the Company’s or AtheroNova Operations’ respective assets without the Original Note holders’ consent. They also limit and impose financial costs on the Company’s acquisition by any third party. | |||||||||
On May 13, 2010, the Company also entered into a Security Agreement and an Intellectual Property Security Agreement with the Purchasers and AtheroNova Operations, pursuant to which all of the Company’s obligations under the Original Notes are secured by first priority security interests in all of its assets and the assets of AtheroNova Operations, including intellectual property. Upon an event of default under the Original Notes or such agreements, the Original Note holders may be entitled to foreclose on any of such assets or exercise other rights available to a secured creditor under California and Delaware law. In addition, under a Subsidiary Guarantee, AtheroNova Operations will guarantee all of the Company’s obligations under the Original Notes. As of December 31, 2012, the outstanding balance of the notes amounted to $427,500, unpaid interest of $28,752 and unamortized note discount of $144,251. | |||||||||
During the period ended September 30, 2013, the Company recognized interest expense of $8,075 and $80,156 to amortize the note discount. The aggregate outstanding balance, unpaid interest and unamortized note discount as of September 30, 2013 amounted to $427,500, $36,827 and $64,095, respectively. The notes are due on May 12, 2014 and have been reclassified as a current liability. | |||||||||
2012 Convertible Notes | |||||||||
On July 23, 2012 current note holders notified the Company of their intention of putting the additional $1,500,000 in notes substantially in the form of the Second Amended Notes (the “2012 Notes”) in 3 tranches. The first $500,000 was put to the Company and the Company issued 2012 Notes on September 4, 2012. These 2012 Notes mature on September 3, 2016. The second tranche of $498,333 was put to the Company and the Company issued 2012 Notes on October 1, 2012. The final tranche of $500,000 was put to the Company and the Company issued 2012 Notes on October 31, 2012 for an aggregate issuance of $1,498,333. The 2012 Notes are convertible into common stock at a per share price of $0.29 per share. As the market price on the date of the issuance of the 2012 Notes ranged between $0.58 and $0.80 per share, the Company calculated a beneficial conversion feature up to the face value of the 2012 Notes in the aggregate of $1,498,333 representing the difference between the market price and the exercise price on the date of issuance. The beneficial conversion feature was recorded as a valuation discount and is being amortized over the term of the 2012 Notes. As of December 31, 2012, the outstanding balance of the notes amounted to $1,335,334, unpaid interest of $8,264 and unamortized note discount of $1,257,779. | |||||||||
During the period ended September 30, 2013, principal on the amount of $165,000 was converted at a per share price of $0.29 into 568,965 shares of the Company’s common stock. The Company also issued 7,942 shares of its common stock with a market value of $4,765 to settle $2,303 of accrued interest relating to these notes. The issuance of these common shares resulted in an additional charge of $2,462 that has been reflected as part of interest expense in the accompanying statement of operations. Furthermore, the Company also recorded interest expense of $145,504 to expense the corresponding unamortized note discount of the converted note. | |||||||||
During the period ended September 30, 2013, the Company recognized interest expense of $23,466 and $231,928 to amortize the note discount. The aggregate balance of the 2012 Notes outstanding, unpaid interest and unamortized note discount as of September 30, 2013 amounted to $1,170,333, $29,427 and $880,347, respectively. |
Note_4_Stockholders_Equity
Note 4 - Stockholders' Equity | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | |||||||||||||||||
4. STOCKHOLDERS’ EQUITY (DEFICIENCY) | ||||||||||||||||||
Common Stock | ||||||||||||||||||
In January and February 2013, the Company issued a total of 859,235 shares of common stock for total proceeds of $150,047. The shares of common stock were issued pursuant to exercise of 859,235 warrants at $0.223/share. Included in the warrants exercised were 336,427 warrants exercised on a “cashless exercise” basis, resulting in issuance of 186,380 shares of the Company’s common stock and cancellation of the remaining 150,047 shares purchasable under the warrant. | ||||||||||||||||||
In March 2013, a controlling stockholder sold 1,624,999 shares of common stock and transferred 95,000 shares of common stock to certain officers and directors of the Company. These transactions involving the officers and directors were considered compensatory and the difference between the fair value and the sales price was recorded as a contribution to capital and compensation expense totaling $481,400. | ||||||||||||||||||
On May 22, 2013, the Company issued a total of 1,997,161 shares of its common stock valued at $0.73 per share, or $1,198,297, to OOO CardioNova in consideration for the achievement of milestones under the 2011 Licensing Agreement (see Note 5). The shares issued were valued at the trading price on the approval date of the Company’s Board of Directors and recorded as research and development expenses. | ||||||||||||||||||
On June 14, 2013 OOO CardioNova purchased 120,619 shares of common stock at $0.97/share or $117,000 pursuant to a 2011 Securities Purchase Agreement and 2011 Licensing Agreement (See Note 5). | ||||||||||||||||||
On June 24, 2013, the Company issued 6,456 shares of its common stock with a fair value of $0.70/share or $4,518 in settlement of consulting fees owed to a director of the Company. The issuance of these common shares resulted in an additional charge of $4,518 that has been reflected as part of operating expenses in the accompanying statement of operations. | ||||||||||||||||||
During August 2013, the Company sold 800,002 units for $0.65 per unit, each unit consisting of one share of common stock and a warrant to purchase 0.30 shares of common stock for up to 10 years at $0.75 per share, to accredited investors, resulting in proceeds to the Company of $520,001. In connection with such sales, warrants to purchase 240,001 shares of common stock were issued to these same purchasers. There were no commissions paid with respect to these sales. | ||||||||||||||||||
Stock Options | ||||||||||||||||||
The Company has a stockholder-approved stock incentive plan for employees under which it has granted stock options. In May 2010, the Company established the 2010 Stock Incentive Plan (the “2010 Plan”), which provides for the granting of awards to officers, directors, employees and consultants to purchase or acquire up to 4,362,964 shares, subsequently amended to 7,362,964 shares, of the Company’s common stock. The awards have a maximum term of 10 years and vest over a period determined by the Company’s Board of Directors and are issued at an exercise price determined by the Board of Directors. Options issued under the 2010 Plan will have an exercise price equal to or greater than the fair market value of a share of the Company’s common stock at the date of grant. The 2010 Plan expires on May 20, 2020 as to any further granting of options. There were options outstanding to purchase a total of 5,539,498 shares granted under the 2010 Plan as well as outside the 2010 Plan as of September 30, 2013. There were 3,172,964 shares reserved for future grants under the 2010 Plan as of September 30, 2013. | ||||||||||||||||||
A summary of the status of the Company’s stock options as of September 30, 2013 and changes during the period then ended is presented below: | ||||||||||||||||||
Shares | Weighted | Weighted | Aggregate | |||||||||||||||
average | Average | Intrinsic | ||||||||||||||||
exercise | Remaining | Value | ||||||||||||||||
price | Contractual | |||||||||||||||||
Term (years) | ||||||||||||||||||
Outstanding at December 31, 2012 | 4,606,998 | $ | 0.987 | 5.189 | $ | 119,241 | ||||||||||||
Granted | 1,932,500 | 0.57 | 6.591 | - | ||||||||||||||
Exercised | - | - | - | - | ||||||||||||||
Cancelled | (1,000,000 | ) | 1.01 | - | ||||||||||||||
Outstanding at September 30, 2013 | 5,539,498 | $ | 0.838 | 5.046 | $ | 235,507 | ||||||||||||
Exercisable at September 30, 2013 | 2,862,873 | $ | 0.945 | 4.193 | $ | 166,168 | ||||||||||||
Weighted-average fair value of options granted during the nine month period ended September 30, 2013 | $ | 0.57 | ||||||||||||||||
During the period ended September 30, 2013, the Company issued options to purchase 352,500 shares of common stock to an employee and members of the Company’s Board of Directors valued at $181,497 using the Black-Scholes-Merton calculation. The options have an exercise price of $0.43 up to $0.69 per share, vest over a four year period and expire seven years from the date of grant. During the period ended September 30, 2013, the Company recognized compensation costs of $36,212 based on the vesting of these options. | ||||||||||||||||||
During the period ended September 30, 2013, the Company issued options to purchase 1,250,000 shares of common stock to consultants with an estimated fair value of approximately $675,000 using the Black-Scholes-Merton calculation. The options have an exercise price from $0.43 to $0.69 per share, vest over a four year period and expire seven years from the date of grant. During the period ended September 30, 2013, the Company recognized compensation costs of $84,738 based on the fair value of options that vested. | ||||||||||||||||||
In September 2013, the Company issued options to purchase 330,000 shares of common stock to consultants with an estimated fair value of approximately $206,688 using the Black-Scholes-Merton calculation. The options have an exercise price from $0.63 per share, vest over a three year period and expire seven years from the date of grant. The Company will begin amortization of these options starting October 2013 pursuant to the option’s vesting period. | ||||||||||||||||||
In May 2011, the Company granted a consultant a total of 1,500,000 options to purchase shares of the Company’s common stock. These options will only become fully vested upon the achievement of certain milestones and will expire in seven years from grant date. At the beginning of the period, a total of 1,350,000 options remain unvested. In March and May 2013, certain milestones were achieved resulting in a total of 350,000 options becoming fully vested and the Company recognized compensation costs $117,257 based on the fair value of these options using the Black-Scholes-Merton calculation. In June 2013, the Company and the consultant agreed to cancel the remaining unvested option to purchase 1,000,000 shares of common stock at $1.01/share. | ||||||||||||||||||
During the nine months ended September 30, 2013, the Company also recognized $473,735 of compensation costs related to the vesting of options granted in prior periods. As of September 30, 2013, the total compensation cost related to all nonvested option awards not yet recognized is approximately $1,514,948. The weighted average period over which it is expected to be recognized is approximately 3.25 years. | ||||||||||||||||||
To compute compensation expense, the Company estimated the fair value of each option award on the date of grant using the Black-Scholes-Merton option pricing model for employees, and calculated the fair value of each option award at the end of the period for non-employees. In prior periods, the Company based the expected volatility assumption on a volatility index of publicly traded peer companies. During the current period, the Company determined that its stock price has matured and there is a consistent level of trading activity, as such, the Company used the volatility percentage of its common stock. The expected term of options granted represents the period of time that options are expected to be outstanding. The Company estimated the expected term of stock options by using the simplified method. The expected forfeiture rates are based on the historical employee forfeiture experiences. To determine the risk-free interest rate, the Company utilized the U.S. Treasury yield curve in effect at the time of grant with a term consistent with the expected term of the Company’s awards. The Company has not declared a dividend on its common stock since its inception and has no intentions of declaring a dividend in the foreseeable future and therefore used a dividend yield of zero. | ||||||||||||||||||
The following table shows the weighted average assumptions the Company used to develop the fair value estimates for the determination of the compensation charges in the three and nine months ended September 30, 2013 and 2012: | ||||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||||
September 30, | September 30, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Expected volatility | 218 | % | 110% | - | 111% | 113% | - | 226% | 110% | - | 112% | |||||||
Dividend yield | - | - | - | - | ||||||||||||||
Expected term (in years) | 6.25 | 5 | - | 5.58 | 6.25 | 1.75 | - | 5.92 | ||||||||||
Risk-free interest rate | 2.05 | % | 1.43% | 1.38 | - | 2.05% | 0.42%- | 1.43% | ||||||||||
Warrants | ||||||||||||||||||
In January 2013, the Company issued warrants to purchase 50,000 shares of common stock at an exercise price of $0.50 per share to a consultant which were valued at $13,500 using the Black-Scholes-Merton calculation with the following assumptions: volatility rate of 114%, expected term of 2.5 years, risk free interest rate of 0.40% and expected dividend yield of 0%. The warrants have an exercise price of $0.50 per share, vest immediately and expire 2.5 years from date of grant. During the period ended September 30, 2013, the Company recognized compensation costs of $13,500 based upon the vesting of these warrants. | ||||||||||||||||||
During the nine months ended September 30, 2013, we issued a total of 240,001 fully-vested warrants to accredited investors who purchased common stock in the subscription offering. These warrants are exercisable for ten years from the date of issuance at an exercise price of $0.75 per share. | ||||||||||||||||||
During the nine months ended September 30, 2013, warrants to acquire 859,235 shares of common stock were exercised resulting in net proceeds to the Company of $150,047. | ||||||||||||||||||
A summary of the status of our warrants as of September 30, 2012 and changes during the period then ended is presented below: | ||||||||||||||||||
Shares | Weighted | Weighted | Aggregate | |||||||||||||||
average | Average | Intrinsic Value | ||||||||||||||||
exercise | Remaining | |||||||||||||||||
price | Contractual | |||||||||||||||||
Term (years) | ||||||||||||||||||
Outstanding at December 31, 2012 | 9,314,720 | $ | 0.377 | 2.665 | $ | 783,258 | ||||||||||||
Granted | 290,001 | 0.707 | 8.595 | - | ||||||||||||||
Exercised | (859,235 | ) | - | - | - | |||||||||||||
Cancelled | (206,118 | ) | - | - | - | |||||||||||||
Outstanding at September 30, 2013 | 8,539,368 | $ | 0.497 | 2.038 | $ | 967,088 | ||||||||||||
Exercisable at September 30, 2013 | 8,539,368 | $ | 0.497 | 2.038 | $ | 967,088 | ||||||||||||
Note_5_Committments
Note 5 - Committments | 9 Months Ended |
Sep. 30, 2013 | |
Commitments and Contingencies Disclosure [Abstract] | ' |
Commitments and Contingencies Disclosure [Text Block] | ' |
5. COMMITTMENTS | |
CardioNova Agreement | |
In October 2011, the Company entered into two definitive agreements with OOO CardioNova, a wholly-owned subsidiary of Maxwell Biotech Group, a Russian biotech fund, covering the Company’s AHRO-001 compound. The agreements cover a territory represented by the Russian Federation, the Ukraine and various countries in central Asia (the “Territory”). | |
Under the licensing agreement OOO CardioNova (“CardioNova”) will become an equity investor in the Company in exchange for the funding of Phase 1 and 2 clinical trials conducted by a Clinical Research Organization (“CRO”) located in Russia. A Joint Steering Committee was subsequently established between both entities to determine the final clinical protocols and approved a research budget of $3.8 million. | |
Pursuant to the agreement, common stock equal to 10%, 20%, 40%, and 30% of the approved research budget of $3.8 million will be issued upon completion of certain phases of the clinical trials. The shares to be issued will be determined based upon a 20 day average price prior to issuance up to $0.97/share. | |
During the period ended September 30, 2013, certain clinical trial milestones were achieved. As a result, the Company issued a total of 1,997,161 non-refundable shares of common stock representing the first 30% of the budget with a fair value of $1,198,297 or $0.60/share. The fair value of the shares issued was based upon the trading price of the Company’s common stock upon its approval by the Company’s Board of Directors, and has been included in research and development costs for the nine month period ending September 30, 2013. | |
If CardioNova successfully develops and commercializes AHRO-001 in the Territory, the Company will be entitled to receive a quarterly royalty, based on net sales during the period using an escalating scale. The royalty agreement shall remain in force for the period in which intellectual property rights for AHRO-001 are in full force and effect in the Territory. | |
Under the Securities Purchase Agreement, CardioNova purchased a total of 275,258 shares of the Company’s common stock for a cash purchase price of $0.97 per share. This transaction took take place in two installments. The first installment, which took place in December 2011, was for the issuance of 154,639 shares upon receipt of $150,000 as specified in the License Agreement. The 2nd installment of 120,619 shares was issued in June 2013 upon the receipt of the final $117,000 due upon shipment of the final clinical product to be used in the Phase 1 clinical trials, which occurred in early June 2013 (see Note 4). | |
Research Agreements | |
The Company has a research agreement signed in September 2012, amended in April 2013 and again in September 2013, with a major university in Southern California to conduct contract research in additional compounds covered under the Company’s pending patents. This agreement calls for payment of all research costs relating to the study of dosage and efficacy of bile salts on the atherosclerotic plaque in a non-human model. The total potential cost of the amended project is $236,323, to be paid in four installments over the estimated one year length of the study. The process is ongoing and to date, $236,323 has been expensed, of which $81,662 and $120,327 has been recorded as part of Research and Development costs on the accompanying statement of operations for the three-and nine month periods ended September 30, 2013, respectively. The agreement is scheduled to end in December 2013. | |
The Company has multiple testing agreements signed in September 2012 and August 2013 for testing of the oral toxicity of AHRO-001 in non-human models. Each agreement can be terminated anytime and there are no commitments or guarantees other than to reimburse costs incurred prior to termination. | |
The study initiated in September 2012, with a cost of approximately $510,000, has completed the active phase of testing and is in the data write-up stage of the project. The process is ongoing and to date, $450,430 has been expensed, of which $0 and $333,885 has been recorded as part of Research and Development costs on the accompanying statement of operations for the three-and nine month periods ended September 30, 2013, respectively. | |
The studies authorized in August 2013, with a cost of approximately $224,600, are both in the process of protocol preparation, with the active phase of the studies commencing in November. The process is ongoing and to date, $22,460 has been expensed, of which $22,460 has been recorded as part of Research and Development costs on the accompanying statement of operations for both the three-and nine month periods ended September 30, 2013, respectively. |
Note_6_Related_Party_Transacti
Note 6 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2013 | |
Related Party Transactions [Abstract] | ' |
Related Party Transactions Disclosure [Text Block] | ' |
6. RELATED PARTY TRANSACTIONS | |
Accounts payable includes $31,266 and $17,533 as of September 30, 2013 and December 31, 2012, respectively, that are payable to officers and directors of the Company. | |
2.5% Senior secured convertible notes includes $1,094,167 convertible notes purchased and held by Europa at both September 30, 2013 and December 31, 2012. Europa is an entity controlled by Knoll Capital Management of which Mr. Knoll, one of the Company’s directors, is the managing director. | |
During the period ended September 30, 2013, the Company issued a total of 1,997,161 non-refundable shares of common stock with a fair value of $1,198,297 to CardioNova, pursuant to an October 2011 research and development agreement (see Note 5 for further discussion). At September 30, 2013, CardioNova owns approximately 5% of the Company’s outstanding shares of common stock. |
Note_7_Subsequent_Events
Note 7 - Subsequent Events | 9 Months Ended |
Sep. 30, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events [Text Block] | ' |
7. SUBSEQUENT EVENTS | |
In October 2013, the Company issued options to purchase 150,000 shares of common stock to an employee. The option has an exercise price of $0.63/share, vest over four years, will expire in seven years and with a fair value of approximately $77,000 using the Black-Scholes-Merton calculation with the following assumptions: volatility rate of 219%, expected term of 5.5 years, risk free interest rate of 2.09% and expected dividend yield of 0%. |
Accounting_Policies_by_Policy_
Accounting Policies, by Policy (Policies) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Use of Estimates, Policy [Policy Text Block] | ' | ||||||||
Use of Estimates | |||||||||
In preparing these condensed consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the condensed consolidated financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions included in the Company’s condensed consolidated financial statements relate to the valuation of long-lived assets, accrued other liabilities, and valuation assumptions related to share-based payments and derivative liability. | |||||||||
Liquidity Disclosure [Policy Text Block] | ' | ||||||||
Going Concern | |||||||||
The accompanying condensed consolidated financial statements have been prepared under the assumption that the Company will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. The Company is in the development stage and has not generated any revenues from operations to date, and does not expect to do so in the foreseeable future. The Company has experienced recurring operating losses and negative operating cash flows since inception, and has financed its working capital requirements through the recurring sale of its convertible notes and equity securities. As reflected in the accompanying condensed consolidated financial statements, the Company had a negative cash flow from operations of $2,669,014 for the period ended September 30, 2013 and accumulated deficit of $19,558,634 at September 30, 2013. These factors, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern. As a result, the Company’s independent registered public accounting firm, in its report on the Company’s December 31, 2012 financial statements, has raised substantial doubt about the Company’s ability to continue as a going concern. | |||||||||
Management is currently in the process of exploring private placements of securities by the Company to accredited investors, funds and institutional investors. Significant additional capital is needed to advance the Company’s research and development as well as providing general working capital. Management believes that current funds will be sufficient to fund operations through January 2014. There can be no assurances that sufficient subsequent funding, if any at all, will be raised by this or future offerings or that the cost of such funding will be reasonable. | |||||||||
In light of the foregoing, management will also seek funding through short-term and long-term loans, grants and other such funds available from private and public sources established to further research in health care and advancement of science. Management continues to meet with representatives of private and public sources of funding to continue the ongoing process of capital development sufficient enough to cover negative cash flows expected in future periods and will continue to do so in the coming months. | |||||||||
Consolidation, Policy [Policy Text Block] | ' | ||||||||
Principles of Consolidation | |||||||||
The condensed consolidated financial statements include the accounts of the Company and its majority-owned subsidiary. Intercompany transactions and balances have been eliminated in consolidation. | |||||||||
Earnings Per Share, Policy [Policy Text Block] | ' | ||||||||
Earnings and Loss per Share | |||||||||
The Company’s computation of earnings per share (“EPS”) includes basic and diluted EPS. Basic EPS is measured as the income (loss) available to common stockholders divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., warrants and options) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. | |||||||||
Income (loss) per common share is computed by dividing net income (loss) by the weighted average number of shares of common stock outstanding during the respective periods. Basic and diluted (loss) per common share is the same for periods in which the company reported an operating loss because all warrants and stock options outstanding are anti-dilutive. | |||||||||
A reconciliation of basic and diluted shares for the three months ended September 30, 2013 and 2012 follows: | |||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Average common shares outstanding-basic | 41,317,353 | 28,935,233 | |||||||
Effect of dilutive securities- | |||||||||
Warrants | - | - | |||||||
Employee and director stock options | - | - | |||||||
Average diluted shares | $ | 41,317,353 | $ | 28,935,233 | |||||
There were no adjustments to net income (loss) required for purposes of computing diluted earnings per share. | |||||||||
A reconciliation of basic and diluted shares for the nine months ended September 30, 2013 and 2012 follows: | |||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Average common shares outstanding-basic | 39,778,101 | 28,663,035 | |||||||
Effect of dilutive securities- | |||||||||
Warrants | - | 2,405,125 | |||||||
Employee and director stock options | - | 263,542 | |||||||
Average diluted shares | $ | 39,778,101 | $ | 31,331,702 | |||||
There were no adjustments to net income (loss) required for purposes of computing diluted earnings per share. | |||||||||
Warrants, options and other potentially dilutive securities are antidilutive and are excluded from the dilutive calculations when their exercise or conversion price exceeds the average stock market price during the period or the effect would be anti-dilutive when applied to a net loss during the period(s) presented. The following table sets forth the shares excluded from the diluted calculation for the three month periods presented as follows: | |||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Senior secured Convertible notes | 5,509,769 | 4,200,299 | |||||||
Convertible notes-short term | - | 1,400,000 | |||||||
Warrants | 8,539,367 | 3,984,595 | |||||||
Employee and director stock options | 5,539,498 | 4,294,456 | |||||||
Total potentially dilutive shares | $ | 19,588,634 | $ | 13,878,350 | |||||
Such securities could potentially dilute earnings per share in the future. | |||||||||
Derivatives, Policy [Policy Text Block] | ' | ||||||||
Derivative Financial Instruments | |||||||||
The Company evaluates all of its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the consolidated statements of operations. For stock-based derivative financial instruments, the Company uses the weighted-average Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. | |||||||||
The Company had derivative liabilities in 2012 relating to purchase price adjustments on certain convertible notes and warrants issued in 2010. These agreements were modified in 2012 eliminating the reset provisions and the corresponding derivative liabilities. | |||||||||
Fair Value of Financial Instruments, Policy [Policy Text Block] | ' | ||||||||
Fair Value of Financial Instruments | |||||||||
Effective January 1, 2008, fair value measurements are determined by the Company’s adoption of authoritative guidance issued by the Financial Accounting Standards Board (“FASB”), with the exception of the application of the statement to non-recurring, non-financial assets and liabilities as permitted. The adoption of the authoritative guidance did not have a material impact on the Company’s fair value measurements. Fair value is defined in the authoritative guidance as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. A fair value hierarchy was established, which prioritizes the inputs used in measuring fair value into three broad levels as follows: | |||||||||
Level 1—Quoted prices in active markets for identical assets or liabilities. | |||||||||
Level 2—Inputs, other than the quoted prices in active markets, are observable either directly or indirectly. | |||||||||
Level 3—Unobservable inputs based on the Company’s assumptions. | |||||||||
The Company is required to use observable market data if such data is available without undue cost and effort. | |||||||||
At September 30, 2013 and December 31, 2012, the fair values of cash and cash equivalents, and accounts payable approximate their carrying values. | |||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | ' | ||||||||
Recently Issued Accounting Standards | |||||||||
In January 2013, the FASB issued Accounting Standard Update (“ASU”) 2013-01, Balance Sheet (Topic 210): Clarifying the Scope of Disclosures about Offsetting Assets and Liabilities. This ASU clarifies which instruments and transactions are subject to the offsetting disclosure requirements established by ASU 2011-11. This guidance is effective for annual and interim reporting periods beginning January 1, 2013. The Company does not believe the adoption of this update will have a material effect on its financial position and results of operations. | |||||||||
On March 4, 2013, the FASB issued ASU 2013-05, “Foreign Currency Matters (Topic 830): Parent’s Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity” (“ASU 2013-05”). ASU 2013-05 updates accounting guidance related to the application of consolidation guidance and foreign currency matters. This guidance resolves the diversity in practice about what guidance applies to the release of the cumulative translation adjustment into net income. This guidance is effective for interim and annual periods beginning after December 15, 2013. The Company does not believe the adoption of this update will have a material effect on its financial position and results of operations. | |||||||||
In July 2013, the FASB issued ASU No. 2013-11, Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Loss, or a Tax Credit Carryforward Exists. Topic 740, Income Taxes, does not include explicit guidance on the financial statement presented of an unrecognized tax benefit when a net operating loss carryforward, a similar tax loss, or a tax credit carryforward exists. There is diversity in practice in the presentation of unrecognized tax benefits in those instances and the amendments in this update are intended to eliminate that diversity in practice. The amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2013. The amendments should be applied prospectively to all unrecognized tax benefits that exist at the effective date. Early adoption is permitted. The Company does not believe the adoption of this update will have a material effect on its financial position and results of operations. | |||||||||
Other accounting pronouncements did not or are not believed by management to have a material impact on the Company’s present or future consolidated financial statements. |
Note_2_Basis_of_Presentation_a1
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Accounting Policies [Abstract] | ' | ||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | ' | ||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Average common shares outstanding-basic | 41,317,353 | 28,935,233 | |||||||
Effect of dilutive securities- | |||||||||
Warrants | - | - | |||||||
Employee and director stock options | - | - | |||||||
Average diluted shares | $ | 41,317,353 | $ | 28,935,233 | |||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Average common shares outstanding-basic | 39,778,101 | 28,663,035 | |||||||
Effect of dilutive securities- | |||||||||
Warrants | - | 2,405,125 | |||||||
Employee and director stock options | - | 263,542 | |||||||
Average diluted shares | $ | 39,778,101 | $ | 31,331,702 | |||||
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | ' | ||||||||
September 30, | September 30, | ||||||||
2013 | 2012 | ||||||||
Senior secured Convertible notes | 5,509,769 | 4,200,299 | |||||||
Convertible notes-short term | - | 1,400,000 | |||||||
Warrants | 8,539,367 | 3,984,595 | |||||||
Employee and director stock options | 5,539,498 | 4,294,456 | |||||||
Total potentially dilutive shares | $ | 19,588,634 | $ | 13,878,350 |
Note_3_25_Senior_Secured_Conve1
Note 3 - 2.5% Senior Secured Convertible Notes Payable (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||
September 30, | December 31, | ||||||||
2013 | 2012 | ||||||||
2010 Convertible Notes | $ | 427,500 | $ | 427,500 | |||||
2012 Convertible Notes | 1,170,333 | 1,335,333 | |||||||
1,597,833 | 1,762,833 | ||||||||
Less Valuation Discount | (944,442 | ) | (1,402,030 | ) | |||||
Convertible Notes Payable, net | $ | 653,391 | $ | 360,803 |
Note_4_Stockholders_Equity_Tab
Note 4 - Stockholders' Equity (Tables) | 9 Months Ended | |||||||||||||||||
Sep. 30, 2013 | ||||||||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | |||||||||||||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | |||||||||||||||||
Shares | Weighted | Weighted | Aggregate | |||||||||||||||
average | Average | Intrinsic | ||||||||||||||||
exercise | Remaining | Value | ||||||||||||||||
price | Contractual | |||||||||||||||||
Term (years) | ||||||||||||||||||
Outstanding at December 31, 2012 | 4,606,998 | $ | 0.987 | 5.189 | $ | 119,241 | ||||||||||||
Granted | 1,932,500 | 0.57 | 6.591 | - | ||||||||||||||
Exercised | - | - | - | - | ||||||||||||||
Cancelled | (1,000,000 | ) | 1.01 | - | ||||||||||||||
Outstanding at September 30, 2013 | 5,539,498 | $ | 0.838 | 5.046 | $ | 235,507 | ||||||||||||
Exercisable at September 30, 2013 | 2,862,873 | $ | 0.945 | 4.193 | $ | 166,168 | ||||||||||||
Weighted-average fair value of options granted during the nine month period ended September 30, 2013 | $ | 0.57 | ||||||||||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | |||||||||||||||||
Three months ended | Nine months ended | |||||||||||||||||
September 30, | September 30, | |||||||||||||||||
2013 | 2012 | 2013 | 2012 | |||||||||||||||
Expected volatility | 218 | % | 110% | - | 111% | 113% | - | 226% | 110% | - | 112% | |||||||
Dividend yield | - | - | - | - | ||||||||||||||
Expected term (in years) | 6.25 | 5 | - | 5.58 | 6.25 | 1.75 | - | 5.92 | ||||||||||
Risk-free interest rate | 2.05 | % | 1.43% | 1.38 | - | 2.05% | 0.42%- | 1.43% | ||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | |||||||||||||||||
Shares | Weighted | Weighted | Aggregate | |||||||||||||||
average | Average | Intrinsic Value | ||||||||||||||||
exercise | Remaining | |||||||||||||||||
price | Contractual | |||||||||||||||||
Term (years) | ||||||||||||||||||
Outstanding at December 31, 2012 | 9,314,720 | $ | 0.377 | 2.665 | $ | 783,258 | ||||||||||||
Granted | 290,001 | 0.707 | 8.595 | - | ||||||||||||||
Exercised | (859,235 | ) | - | - | - | |||||||||||||
Cancelled | (206,118 | ) | - | - | - | |||||||||||||
Outstanding at September 30, 2013 | 8,539,368 | $ | 0.497 | 2.038 | $ | 967,088 | ||||||||||||
Exercisable at September 30, 2013 | 8,539,368 | $ | 0.497 | 2.038 | $ | 967,088 |
Note_1_Organization_Details
Note 1 - Organization (Details) | 1 Months Ended |
Jun. 23, 2010 | |
Disclosure Text Block [Abstract] | ' |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 200 |
Note_2_Basis_of_Presentation_a2
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details) (USD $) | 9 Months Ended | 82 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Accounting Policies [Abstract] | ' | ' | ' | ' |
Net Cash Provided by (Used in) Operating Activities (in Dollars) | ($2,669,014) | ($1,370,180) | ($7,640,357) | ' |
Development Stage Enterprise, Deficit Accumulated During Development Stage (in Dollars) | $19,558,634 | ' | $19,558,634 | $14,215,072 |
Note_2_Basis_of_Presentation_a3
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details) - Reconciliation of basic and diluted shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Reconciliation of basic and diluted shares [Abstract] | ' | ' | ' | ' |
Average common shares outstanding-basic | 41,317,353 | 28,935,233 | 39,778,101 | 28,663,035 |
Effect of dilutive securities- | ' | ' | ' | ' |
Warrants | ' | ' | ' | 2,405,125 |
Employee and director stock options | ' | ' | ' | 263,542 |
Average diluted shares | 41,317,353 | 28,935,233 | 39,778,101 | 31,331,702 |
Note_2_Basis_of_Presentation_a4
Note 2 - Basis of Presentation and Summary of Significant Accounting Policies (Details) - Antidilutive securities excluded from the dilutive calculations | 3 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 19,588,634 | 13,878,350 |
Convertible Debt Securities [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 5,509,769 | 4,200,299 |
Convertible Debt Securities, Short-term [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share | ' | 1,400,000 |
Warrant [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 8,539,367 | 3,984,595 |
Equity Option [Member] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ' | ' |
Antidilutive securities excluded from computation of earnings per share | 5,539,498 | 4,294,456 |
Note_3_25_Senior_Secured_Conve2
Note 3 - 2.5% Senior Secured Convertible Notes Payable (Details) (USD $) | 3 Months Ended | 9 Months Ended | 82 Months Ended | 1 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Aug. 31, 2013 | Feb. 28, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Oct. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | 13-May-10 | Sep. 30, 2013 | Dec. 31, 2012 | Jul. 23, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | |
Tranche 1 [Member] | Tranche 2 [Member] | Tranche 3 [Member] | Market Price On Date of Issuance [Member] | Market Price On Date of Issuance [Member] | Warrants Issued In Conjunction With Issuance Of 2010 Convertible Notes [Member] | Issued to Settle Accured Interest [Member] | 2.5% Senior Secured Convertible Notes ("Original Notes") [Member] | 2.5% Senior Secured Convertible Notes ("Original Notes") [Member] | 2.5% Senior Secured Convertible Notes ("Original Notes") [Member] | 2.5% Senior Secured Convertible Notes ("Original Notes") [Member] | Second Amended Notes Without Warrants [Member] | Second Amended Notes Without Warrants [Member] | |||||||||
Second Amended Notes Without Warrants [Member] | Second Amended Notes Without Warrants [Member] | Second Amended Notes Without Warrants [Member] | Minimum [Member] | Maximum [Member] | Second Amended Notes Without Warrants [Member] | ||||||||||||||||
Second Amended Notes Without Warrants [Member] | Second Amended Notes Without Warrants [Member] | ||||||||||||||||||||
Note 3 - 2.5% Senior Secured Convertible Notes Payable (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | 2.50% | ' | 2.50% | ' | 2.50% | ' | ' | 2.50% | ' | ' | ' | ' | ' | ' | ' | ' | 2.50% | ' | ' | ' | ' |
Proceeds from Issuance of Senior Long-term Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,500,000 | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | ' | ' | ' | ' | ' | 240,001 | 859,235 | ' | ' | ' | ' | ' | ' | 1,908,798 | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | 0.75 | ' | 0.75 | ' | 0.75 | ' | 0.223 | ' | ' | ' | ' | ' | ' | 0.39 | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' |
Debt Instrument, Interest Rate in Event of Default, Stated Percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12.00% | ' | ' | ' | ' |
Debt Instrument Percentage Of Unpaid Note Principal Plus Accrued Interest Owed Upon Default | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120.00% | ' | ' | ' | ' |
1,597,833 | ' | 1,597,833 | ' | 1,597,833 | ' | ' | 1,762,833 | ' | ' | ' | ' | ' | ' | ' | ' | 427,500 | 427,500 | ' | 1,170,333 | 1,335,334 | |
Debt Instrument, Unpaid Interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36,827 | 28,752 | ' | 29,427 | 8,264 |
Debt Instrument, Unamortized Discount | 944,442 | ' | 944,442 | ' | 944,442 | ' | ' | 1,402,030 | ' | ' | ' | ' | ' | ' | ' | ' | 64,095 | 144,251 | ' | 880,347 | 1,257,779 |
Interest Expense, Debt | 110,073 | 200,380 | 491,591 | 395,154 | 2,371,105 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,462 | ' | 8,075 | ' | ' | 23,466 | ' |
Amortization of Debt Discount (Premium) | ' | ' | 457,588 | 384,605 | 2,167,077 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 145,504 | ' | 80,156 | ' | ' | 231,928 | ' |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' |
Proceeds from Issuance of Debt | ' | ' | ' | ' | ' | ' | ' | ' | 500,000 | 498,333 | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,498,333 |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.29 | ' |
Share Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.58 | $0.80 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Beneficial Conversion Feature | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,498,333 | ' |
Debt Conversion, Converted Instrument, Amount | ' | ' | 169,765 | 75,805 | 2,190,616 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 165,000 | ' |
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 568,965 | ' |
Stock Issued During Period, Shares, Other (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,942 | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Other | ' | ' | 4,518 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,765 | ' | ' | ' | ' | ' | ' |
Increase (Decrease) in Interest Payable, Net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ($2,303) | ' | ' | ' | ' | ' | ' |
Note_3_25_Senior_Secured_Conve3
Note 3 - 2.5% Senior Secured Convertible Notes Payable (Details) - Senior secured convertible notes payable (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
Note 3 - 2.5% Senior Secured Convertible Notes Payable (Details) - Senior secured convertible notes payable [Line Items] | ' | ' |
Convertible Notes, gross | $1,597,833 | $1,762,833 |
Less Valuation Discount | -944,442 | -1,402,030 |
Convertible Notes Payable, net | 653,391 | 360,803 |
2010 Convertible Notes [Member] | ' | ' |
Note 3 - 2.5% Senior Secured Convertible Notes Payable (Details) - Senior secured convertible notes payable [Line Items] | ' | ' |
Convertible Notes, gross | 427,500 | 427,500 |
2012 Convertible Notes [Member] | ' | ' |
Note 3 - 2.5% Senior Secured Convertible Notes Payable (Details) - Senior secured convertible notes payable [Line Items] | ' | ' |
Convertible Notes, gross | $1,170,333 | $1,335,333 |
Note_4_Stockholders_Equity_Det
Note 4 - Stockholders' Equity (Details) (USD $) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 82 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||||||||||||||
Aug. 31, 2013 | Feb. 28, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Dec. 31, 2011 | Mar. 31, 2013 | Mar. 31, 2013 | Sep. 30, 2013 | 31-May-10 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 28, 2013 | Aug. 31, 2013 | Aug. 31, 2013 | Jan. 31, 2013 | Sep. 30, 2013 | Jan. 31, 2013 | Aug. 31, 2013 | Sep. 30, 2013 | Jun. 14, 2013 | 31-May-13 | Jun. 24, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | 31-May-13 | 31-May-11 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Shares Sold By Controlling Stockholder To Directors Of The Company At A Below-Market Price [Member] | Shares Transferred By Controlling Stockholder To Officers, Employees and Directors of the Company [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Employee Stock Option [Member] | Warrant "Cashless Exercise" [Member] | Common Stock Unit [Member] | Common Stock Unit [Member] | Issued In Conjunction With a Consulting Service Agreement [Member] | Issued In Conjunction With a Consulting Service Agreement [Member] | Issued In Conjunction With a Consulting Service Agreement [Member] | Common Stock Unit [Member] | "2010 Plan" [Member] | CardioNova [Member] | CardioNova [Member] | Director [Member] | Members Of The Company's Board Of Directors [Member] | Consultant [Member] | Consultant [Member] | Consultant [Member] | Consultant [Member] | Consultant [Member] | Consultant [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | |||||||||
"2010 Plan" [Member] | "2010 Plan" [Member] | "2010 Plan" [Member] | Members Of The Company's Board Of Directors [Member] | Consultant [Member] | Consultant [Member] | Maximum [Member] | Warrant [Member] | Warrant [Member] | Members Of The Company's Board Of Directors [Member] | Consultant [Member] | Members Of The Company's Board Of Directors [Member] | Consultant [Member] | |||||||||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||||
Note 4 - Stockholders' Equity (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, Issued | ' | 859,235 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Warrant Exercises (in Dollars) | ' | $150,047 | ' | ' | $150,047 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 240,001 | 859,235 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 336,427 | 0.3 | ' | ' | ' | 50,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | 0.223 | 0.75 | ' | 0.75 | ' | 0.75 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75 | ' | ' | ' | 0.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Development Stage Entities, Stock Issued, Shares, Issued for Noncash Consideration | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 186,380 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cancellation of Shares Purchasable Under the Warrant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,047 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | ' | ' | 1,932,500 | ' | ' | ' | 1,624,999 | 95,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 352,500 | 330,000 | ' | ' | 1,500,000 | 1,250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | 481,400 | ' | ' | ' | ' | 36,212 | ' | 84,738 | 473,735 | ' | ' | ' | ' | 13,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117,257 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,997,161 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.73 | $0.70 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,198,297 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Number of Shares Issued in Transaction | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120,619 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of Stock, Price Per Share (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.97 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Common Stock (in Dollars) | ' | ' | ' | ' | 787,048 | ' | 5,366,503 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 117,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, Issued for Services | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,456 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, Issued for Services (in Dollars) | ' | ' | ' | ' | 1,198,297 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,518 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Other Noncash Expense (in Dollars) | ' | ' | ' | ' | ' | ' | 2,148,307 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,518 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Units | 800,002 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Unit, Price Per Unit (in Dollars per share) | $0.65 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock Units, Number of Shares Per Unit (in Dollars per share) | $1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants, Term | ' | ' | '10 years | ' | '10 years | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance or Sale of Equity (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 520,001 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,362,964 | 4,362,964 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Option Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | '7 years | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | ' | ' | 5,539,498 | ' | 5,539,498 | ' | 5,539,498 | 4,606,998 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,172,964 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Granted, Value, Share-based Compensation, Gross (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 181,497 | 206,688 | 675,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | ' | ' | ' | ' | $0.57 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.69 | $0.69 | ' | ' | ' | $0.43 | $0.43 | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | '3 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.63 | $0.63 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 350,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options Cancelled in Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options Cancelled in Period, Price Per Share (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1.01 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | ' | ' | 1,514,948 | ' | 1,514,948 | ' | 1,514,948 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '3 years 3 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock and Warrants Issued During Period, Value, Preferred Stock and Warrants (in Dollars) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $13,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | ' | ' | 218.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 114.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 111.00% | 226.00% | 112.00% | ' | ' | 110.00% | 113.00% | 110.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | ' | ' | '6 years 3 months | ' | '6 years 3 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '2 years 6 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 211 days | ' | '5 years 335 days | ' | ' | '5 years | ' | '1 year 9 months |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | ' | ' | 2.05% | 1.43% | ' | 0.42% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.05% | 1.43% | ' | ' | ' | 1.38% | ' |
Warrants Issued | ' | ' | ' | ' | 240,001 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Exercised | ' | ' | ' | ' | 859,235 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_4_Stockholders_Equity_Det1
Note 4 - Stockholders' Equity (Details) - Status of the company’s stock options (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Status of the company’s stock options [Abstract] | ' | ' |
Outstanding at December 31, 2012 (in Shares) | ' | 4,606,998 |
Outstanding at December 31, 2012 | ' | $0.99 |
Outstanding at December 31, 2012 | '5 years 16 days | '5 years 68 days |
Outstanding at December 31, 2012 (in Dollars) | ' | $119,241 |
Granted (in Shares) | 1,932,500 | ' |
Granted | $0.57 | ' |
Granted | '6 years 215 days | ' |
Cancelled (in Shares) | -1,000,000 | ' |
Cancelled | $1.01 | ' |
Outstanding at September 30, 2013 (in Shares) | 5,539,498 | ' |
Outstanding at September 30, 2013 | $0.84 | ' |
Outstanding at September 30, 2013 | '5 years 16 days | '5 years 68 days |
Outstanding at September 30, 2013 (in Dollars) | 235,507 | ' |
Exercisable at September 30, 2013 (in Shares) | 2,862,873 | ' |
Exercisable at September 30, 2013 | $0.95 | ' |
Exercisable at September 30, 2013 | '4 years 70 days | ' |
Exercisable at September 30, 2013 (in Dollars) | $166,168 | ' |
Weighted-average fair value of options granted during the nine month period ended September 30, 2013 | $0.57 | ' |
Note_4_Stockholders_Equity_Det2
Note 4 - Stockholders' Equity (Details) - Weighted average assumptions used to develop the fair value of stock options | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Note 4 - Stockholders' Equity (Details) - Weighted average assumptions used to develop the fair value of stock options [Line Items] | ' | ' | ' | ' |
Expected volatility | 218.00% | ' | ' | ' |
Expected term (in years) | '6 years 3 months | ' | '6 years 3 months | ' |
Risk-free interest rate | 2.05% | 1.43% | ' | 0.42% |
Minimum [Member] | ' | ' | ' | ' |
Note 4 - Stockholders' Equity (Details) - Weighted average assumptions used to develop the fair value of stock options [Line Items] | ' | ' | ' | ' |
Expected volatility | ' | 110.00% | 113.00% | 110.00% |
Expected term (in years) | ' | '5 years | ' | '1 year 9 months |
Risk-free interest rate | ' | ' | 1.38% | ' |
Maximum [Member] | ' | ' | ' | ' |
Note 4 - Stockholders' Equity (Details) - Weighted average assumptions used to develop the fair value of stock options [Line Items] | ' | ' | ' | ' |
Expected volatility | ' | 111.00% | 226.00% | 112.00% |
Expected term (in years) | ' | '5 years 211 days | ' | '5 years 335 days |
Risk-free interest rate | ' | ' | 2.05% | 1.43% |
Note_4_Stockholders_Equity_Det3
Note 4 - Stockholders' Equity (Details) - Warrants outstanding (USD $) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Class of Warrant or Right [Line Items] | ' | ' |
Granted | '6 years 215 days | ' |
Warrant [Member] | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' |
Outstanding at December 31, 2012 | ' | 9,314,720 |
Outstanding at December 31, 2012 (in Dollars per share) | ' | $0.38 |
Outstanding at December 31, 2012 | '2 years 13 days | '2 years 242 days |
Outstanding at December 31, 2012 (in Dollars) | ' | $783,258 |
Granted | 290,001 | ' |
Granted (in Dollars per share) | $0.71 | ' |
Granted | '8 years 217 days | ' |
Exercised | -859,235 | ' |
Cancelled | -206,118 | ' |
Outstanding at September 30, 2013 | 8,539,368 | ' |
Outstanding at September 30, 2013 (in Dollars per share) | $0.50 | ' |
Outstanding at September 30, 2013 | '2 years 13 days | '2 years 242 days |
Outstanding at September 30, 2013 (in Dollars) | $967,088 | ' |
Exercisable at September 30, 2013 | 8,539,368 | ' |
Exercisable at September 30, 2013 (in Dollars per share) | $0.50 | ' |
Exercisable at September 30, 2013 | '2 years 13 days | ' |
Exercisable at September 30, 2013 (in Dollars per share) | $967,088 | ' |
Note_5_Committments_Details
Note 5 - Committments (Details) (USD $) | 3 Months Ended | 9 Months Ended | 82 Months Ended | 9 Months Ended | 13 Months Ended | 2 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 13 Months Ended | 2 Months Ended | 3 Months Ended | 9 Months Ended | 22 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | 9 Months Ended | 13 Months Ended | ||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2011 | Jun. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Oct. 31, 2011 | Sep. 30, 2013 | Jun. 14, 2013 | 31-May-13 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Phase 1 [Member] | Phase 2 [Member] | Phase 3 [Member] | Phase 4 [Member] | Funding of Clinical Trials [Member] | Funding of Clinical Trials [Member] | Contract Research In Additional Compounds Covered Under Pending Patents [Member] | Testing Of The Oral Toxicity Of AHRO-001 [Member] | Testing Of The Oral Toxicity Of AHRO-001 [Member] | First Installment [Member] | Second Installment [Member] | Study Initiated in September 2012 [Member] | Study Initiated in September 2012 [Member] | Study Initiated in September 2012 [Member] | Study Initiated in August 2013 [Member] | Study Initiated in August 2013 [Member] | Study Initiated in August 2013 [Member] | Joint Steering Committee, Atheronova And CardioNova [Member] | CardioNova [Member] | CardioNova [Member] | CardioNova [Member] | Major University in Southern California [Member] | Major University in Southern California [Member] | Major University in Southern California [Member] | ||||||
Maximum [Member] | Major University in Southern California [Member] | Study Initiated in September 2012 [Member] | Study Initiated in August 2013 [Member] | CardioNova [Member] | CardioNova [Member] | Testing Of The Oral Toxicity Of AHRO-001 [Member] | Testing Of The Oral Toxicity Of AHRO-001 [Member] | Testing Of The Oral Toxicity Of AHRO-001 [Member] | Testing Of The Oral Toxicity Of AHRO-001 [Member] | Testing Of The Oral Toxicity Of AHRO-001 [Member] | Testing Of The Oral Toxicity Of AHRO-001 [Member] | Funding of Clinical Trials [Member] | Securities Purchase Agreement [Member] | Contract Research In Additional Compounds Covered Under Pending Patents [Member] | Contract Research In Additional Compounds Covered Under Pending Patents [Member] | Contract Research In Additional Compounds Covered Under Pending Patents [Member] | |||||||||||||
Securities Purchase Agreement [Member] | Securities Purchase Agreement [Member] | ||||||||||||||||||||||||||||
Note 5 - Committments (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Contractual Obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,800,000 | ' | ' | ' | ' | ' | ' |
Percentage of Research Costs Issued in Stock | ' | ' | ' | ' | ' | 10.00% | 20.00% | 40.00% | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.60 | $0.97 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.97 | ' | $0.73 | ' | ' | ' |
Stock Issued During Period, Shares, New Issues (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,997,161 | ' | ' | ' | ' | 154,639 | 120,619 | ' | ' | ' | ' | ' | ' | ' | 275,258 | ' | 1,997,161 | ' | ' | ' |
Percentage of Contractual Obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Value, New Issues | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,198,297 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,198,297 | ' | ' | ' |
Proceeds from Issuance of Common Stock | ' | ' | 787,048 | ' | 5,366,503 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 150,000 | 117,000 | ' | ' | ' | ' | ' | ' | ' | ' | 117,000 | ' | ' | ' | ' |
Long-term Purchase Commitment, Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 236,323 | 510,000 | 224,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Research and Development Expense | $255,028 | $184,868 | $876,033 | $560,439 | $2,735,369 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0 | $333,885 | $450,430 | $22,460 | $22,460 | $22,460 | ' | ' | ' | ' | $81,662 | $120,327 | $236,323 |
Note_6_Related_Party_Transacti1
Note 6 - Related Party Transactions (Details) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 |
Convertible Debt Securities [Member] | Convertible Debt Securities [Member] | CardioNova [Member] | Officers and Directors [Member] | Officers and Directors [Member] | |
Europa [Member] | Europa [Member] | ||||
Note 6 - Related Party Transactions (Details) [Line Items] | ' | ' | ' | ' | ' |
Accounts Payable, Related Parties | ' | ' | ' | $31,266 | $17,533 |
Due to Related Parties | 1,094,167 | 1,094,167 | ' | ' | ' |
Stock Issued During Period, Shares, New Issues (in Shares) | ' | ' | 1,997,161 | ' | ' |
Stock Issued During Period, Value, New Issues | ' | ' | $1,198,297 | ' | ' |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | ' | ' | 5.00% | ' | ' |
Note_7_Subsequent_Events_Detai
Note 7 - Subsequent Events (Details) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Oct. 31, 2013 | |
Subsequent Event [Member] | |||||
Employee Stock Option [Member] | |||||
Note 7 - Subsequent Events (Details) [Line Items] | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | ' | ' | 1,932,500 | ' | 150,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share) | ' | ' | ' | ' | $0.63 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | '4 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Expiration Period | ' | ' | ' | ' | '7 years |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | ' | ' | ' | ' | $77,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 218.00% | ' | ' | ' | 219.00% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | '6 years 3 months | ' | '6 years 3 months | ' | '5 years 6 months |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.05% | 1.43% | ' | 0.42% | 2.09% |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | ' | ' | 0.00% | ' | 0.00% |