Document_And_Entity_Informatio
Document And Entity Information | 3 Months Ended | |
Mar. 31, 2014 | 11-May-14 | |
Document and Entity Information [Abstract] | ' | ' |
Entity Registrant Name | 'SANUWAVE Health, Inc. | ' |
Document Type | '10-Q | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Common Stock, Shares Outstanding | ' | 46,966,519 |
Amendment Flag | 'false | ' |
Entity Central Index Key | '0001417663 | ' |
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 | 31-Mar-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q1 | ' |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
CURRENT ASSETS | ' | ' |
Cash and cash equivalents | $7,231,946 | $182,315 |
Accounts receivable - trade, net of allowance for doubtful accounts of $46,030 in 2014 and $43,282 in 2013 | 61,661 | 139,736 |
Inventory | 250,484 | 246,006 |
Prepaid expenses | 153,908 | 75,020 |
TOTAL CURRENT ASSETS | 7,697,999 | 643,077 |
PROPERTY AND EQUIPMENT, at cost, less accumulated depreciation (Note 3) | 10,497 | 13,267 |
OTHER ASSETS | 11,457 | 11,444 |
INTANGIBLE ASSETS, at cost, less accumulated amortization (Note 4) | 843,580 | 920,269 |
TOTAL ASSETS | 8,563,533 | 1,588,057 |
CURRENT LIABILITIES | ' | ' |
Accounts payable | 563,799 | 935,028 |
Accrued expenses (Note 5) | 635,163 | 863,572 |
Accrued employee compensation | 197,304 | 140,102 |
Convertible promissory note (Note 9) | ' | 147,775 |
Promissory notes | ' | 89,038 |
Interest payable, related parties (Note 7) | 80,072 | 163,729 |
Capital lease payable | 2,659 | 3,951 |
TOTAL CURRENT LIABILITIES | 1,478,997 | 2,343,195 |
NON-CURRENT LIABILITIES | ' | ' |
Notes payable, related parties (Note 7) | 5,372,743 | 5,372,743 |
TOTAL LIABILITIES | 6,851,740 | 7,715,938 |
STOCKHOLDERS' EQUITY (DEFICIT) | ' | ' |
PREFERRED STOCK, SERIES A CONVERTIBLE, par value $0.001, 6,175 shares issued and outstanding (Note 10) | 6 | ' |
COMMON STOCK, par value $0.001, 150,000,000 shares authorized; 46,846,519 and 37,984,182 issued and outstanding in 2014 and 2013, respectively | 46,847 | 37,984 |
ADDITIONAL PAID-IN CAPITAL | 86,433,681 | 76,037,490 |
ACCUMULATED OTHER COMPREHENSIVE INCOME | 5,256 | 6,688 |
ACCUMULATED DEFICIT | -84,773,997 | -82,210,043 |
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) | 1,711,793 | -6,127,881 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) | $8,563,533 | $1,588,057 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Accounts Receivable, Allowance for Doubtful Accounts (in Dollars) | $46,030 | $43,282 |
Preferred shares par value (in Dollars per share) | $0.00 | $0.00 |
Preferred shares issued | 0 | 0 |
Preferred shares outstanding | 0 | 0 |
Preferred stock, shares authorized | 4,993,825 | 5,000,000 |
Common stock par value (in Dollars per share) | $0.00 | $0.00 |
Common Stock, shares authorized | 150,000,000 | 150,000,000 |
Common Stock, shares issued | 46,846,519 | 37,984,182 |
Common Stock, shares outstanding | 46,846,519 | 37,984,182 |
Convertible Preferred Stock [Member] | ' | ' |
Preferred shares par value (in Dollars per share) | $0.00 | ' |
Preferred shares issued | 6,175 | ' |
Preferred shares outstanding | 6,175 | ' |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements Of Comprehensive Loss (Unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
REVENUE | $145,098 | $201,234 |
COST OF REVENUE | 18,337 | 55,811 |
GROSS PROFIT | 126,761 | 145,423 |
OPERATING EXPENSES | ' | ' |
Research and development | 764,845 | 344,685 |
General and administrative | 1,300,311 | 851,921 |
Depreciation | 4,715 | 4,991 |
Amortization | 76,689 | 76,689 |
TOTAL OPERATING EXPENSES | 2,146,560 | 1,278,286 |
OPERATING LOSS | -2,019,799 | -1,132,863 |
OTHER INCOME (EXPENSE) | ' | ' |
Loss on embedded conversion feature of Senior Secured Notes (Note 6) | ' | -3,737,000 |
Interest expense, net | -542,292 | -508,890 |
Gain on sale of fixed assets | ' | 7,500 |
Gain/(loss) on foreign currency exchange | -1,863 | 1,920 |
TOTAL OTHER INCOME (EXPENSE) | -544,155 | -4,236,470 |
LOSS BEFORE INCOME TAXES | -2,563,954 | -5,369,333 |
INCOME TAX EXPENSE | 0 | 0 |
NET LOSS | -2,563,954 | -5,369,333 |
OTHER COMPREHENSIVE INCOME (LOSS) | ' | ' |
Foreign currency translation adjustments | -1,432 | -6,925 |
TOTAL COMPREHENSIVE LOSS | ($2,565,386) | ($5,376,258) |
LOSS PER SHARE: | ' | ' |
Net loss - basic and diluted (in Dollars per share) | ($0.06) | ($0.25) |
Weighted average shares outstanding - basic and diluted (in Shares) | 39,646,922 | 21,278,128 |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (Unaudited) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' |
Net loss | ($2,563,954) | ($5,369,333) |
Adjustments to reconcile net loss to net cash used by operating activities | ' | ' |
Amortization | 76,689 | 76,689 |
Depreciation | 4,715 | 4,991 |
Change in allowance for doubtful accounts | 2,748 | 5,976 |
Stock-based compensation - employees, directors and advisors | 70,778 | 317,601 |
Stock issued for consulting services | 597,150 | 186,200 |
Gain on sale of property and equipment | ' | -7,500 |
Changes in assets - (increase)/decrease | ' | ' |
Accounts receivable - trade | 75,327 | -11,611 |
Inventory | -4,478 | 31,383 |
Prepaid expenses | -78,888 | 12,089 |
Other | -13 | 125 |
Changes in liabilities - increase/(decrease) | ' | ' |
Accounts payable | -371,229 | -196,869 |
Accrued employee compensation | 57,202 | -158,484 |
Accrued expenses | -228,409 | -98,605 |
Promissory notes - accrued interest | -21,813 | ' |
Interest payable | -83,657 | -1,793 |
NET CASH USED BY OPERATING ACTIVITIES | -2,120,800 | -1,043,674 |
Accrued interest on 18% Convertible Promissory Notes | 7,168 | ' |
Loss on embedded conversion feature of Senior Secured Notes | ' | 3,737,000 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' |
Sale of property and equipment | ' | 7,500 |
Purchase of property and equipment | -1,945 | ' |
NET CASH PROVIDED (USED) BY INVESTING ACTIVITIES | -1,945 | 7,500 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Proceeds from 2014 Private Placement, net | 8,562,500 | ' |
Proceeds from employee stock option exercise | 12,600 | ' |
Proceeds from subscriptions payable for Senior Secured Notes | ' | 1,570,000 |
Proceeds from sale of capital stock - subscription agreement | ' | 75,000 |
Payments of principal on convertible promissory notes | -450,000 | ' |
Payments of principal on promissory notes | -90,000 | ' |
Payments of principal on capital lease | -1,292 | -1,199 |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 9,173,808 | 1,643,801 |
EFFECT OF EXCHANGE RATES ON CASH | -1,432 | -6,925 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 7,049,631 | 600,702 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 182,315 | 70,325 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | 7,231,946 | 671,027 |
SUPPLEMENTAL INFORMATION | ' | ' |
Cash paid for interest, related parties | 164,765 | 81,864 |
8% Convertible Promissory Notes [Member] | ' | ' |
Adjustments to reconcile net loss to net cash used by operating activities | ' | ' |
Acretion of interest | 339,864 | ' |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Proceeds from promissory notes | 325,000 | ' |
Senior Secured Notes [Member] | ' | ' |
Adjustments to reconcile net loss to net cash used by operating activities | ' | ' |
Acretion of interest | ' | 428,467 |
18% Convertible Promissory Notes [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' |
Proceeds from promissory notes | $815,000 | ' |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) | Mar. 31, 2014 |
18% Convertible Promissory Notes | 18.00% |
18% promissory notes | 18.00% |
Note_1_Nature_of_the_Business
Note 1 - Nature of the Business | 3 Months Ended | |
Mar. 31, 2014 | ||
Disclosure Text Block [Abstract] | ' | |
Nature of Operations [Text Block] | ' | |
1 | Nature of the Business | |
SANUWAVE Health, Inc. and subsidiaries (the “Company”) is a shockwave technology company using a patented system of noninvasive, high-energy, acoustic shockwaves for regenerative medicine and other applications. The Company’s initial focus is regenerative medicine – utilizing noninvasive, acoustic shockwaves to produce a biological response resulting in the body healing itself through the repair and regeneration of tissue, musculoskeletal and vascular structures. The Company’s lead regenerative product in the United States is the dermaPACE® device, which is in a supplemental Phase III clinical study for treating diabetic foot ulcers with possible FDA approval in 2015, subject to submission of satisfactory clinical study results. | ||
The Company’s portfolio of healthcare products and product candidates activate biologic signaling and angiogenic responses, including new vascularization and microcirculatory improvement, helping to restore the body’s normal healing processes and regeneration. The Company intends to apply its Pulsed Acoustic Cellular Expression (PACE®) technology in wound healing, orthopedic, plastic/cosmetic and cardiac conditions. The Company is not currently marketing any commercial products in the United States. Revenue is from sales of the European Conformity Marking (“CE Mark”) devices and accessories in Europe, Canada, Asia and Asia/Pacific. | ||
In addition, there are license/partnership opportunities for the Company’s shockwave technology for non-medical uses, including energy, water, food and industrial markets. |
Note_2_Summary_of_Significant_
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended | |
Mar. 31, 2014 | ||
Accounting Policies [Abstract] | ' | |
Significant Accounting Policies [Text Block] | ' | |
2 | Summary of Significant Accounting Policies | |
Basis of Presentation | ||
The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X. Accordingly, these condensed consolidated financial statements do not include all the information and footnotes required by United States generally accepted accounting principles for complete financial statements. The financial information as of March 31, 2014 and for the three months ended March 31, 2014 and 2013 is unaudited; however, in the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the three month period ended March 31, 2014 are not necessarily indicative of the results that may be expected for any other interim period or for the year ending December 31, 2014. | ||
The condensed consolidated balance sheet at December 31, 2013 has been derived from the audited consolidated financial statements at that date, but does not include all of the information and footnotes required by United States generally accepted accounting principles for complete financial statements. | ||
Financial condition | ||
Since inception in 2005, the Company’s operations have primarily been funded from the sale of capital stock and convertible debt securities. At March 31, 2014, the Company had cash and cash equivalents totaling $7,231,946. The Company does not currently generate significant recurring revenue and will require additional capital in the second half of 2015 to commercialize the dermaPACE, assuming positive clinical study results and FDA approval. Although no assurances can be given, management of the Company believes that existing capital resources should enable the Company to fund operations for at least the next twelve months. Accordingly, the accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. | ||
Significant Accounting Policies | ||
For further information and a summary of significant accounting policies, refer to the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013, filed with the SEC on March 31, 2014. | ||
Recently Issued Accounting Standards | ||
There have been no recently issued accounting standards that are expected to have a material impact on our condensed consolidated financial statements. |
Note_3_Property_and_Equipment
Note 3 - Property and Equipment | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment Disclosure [Text Block] | ' | ||||||||
3 | Property and equipment | ||||||||
Property and equipment consists of the following: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Machines and equipment | $ | 235,738 | $ | 233,793 | |||||
Office and computer equipment | 171,404 | 171,404 | |||||||
Software | 41,872 | 41,872 | |||||||
Furniture and fixtures | 22,447 | 22,447 | |||||||
Other assets | 2,446 | 2,446 | |||||||
Total | 473,907 | 471,962 | |||||||
Accumulated depreciation | (463,410 | ) | (458,695 | ) | |||||
Net property and equipment | $ | 10,497 | $ | 13,267 | |||||
The aggregate depreciation related to property and equipment charged to operations was $4,715 and $4,991 for the three months ended March 31, 2014 and 2013, respectively. |
Note_4_Intangible_Assets
Note 4 - Intangible Assets | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Intangible Assets Disclosure [Text Block] | ' | ||||||||
4 | Intangible assets | ||||||||
Intangible assets consist of the following: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Patents, at cost | $ | 3,502,135 | $ | 3,502,135 | |||||
Less accumulated amortization | (2,658,555 | ) | (2,581,866 | ) | |||||
Net intangible assets | $ | 843,580 | $ | 920,269 | |||||
The aggregate amortization charged to operations was $76,689 for the three months ended March 31, 2014 and 2013. |
Note_5_Accrued_expenses
Note 5 - Accrued expenses | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | ' | ||||||||
5 | Accrued expenses | ||||||||
Accrued expenses consist of the following: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Accrued executive severance | $ | 400,000 | $ | 400,000 | |||||
Accrued consultants | 79,100 | 58,000 | |||||||
Accrued legal professional fees | 50,000 | 29,500 | |||||||
Accrued audit and tax preparation | 25,760 | 91,000 | |||||||
Accrued clinical study expenses | 23,285 | 188,927 | |||||||
Accrued board of directors fees | 12,000 | 37,333 | |||||||
Accrued other | 45,018 | 58,812 | |||||||
$ | 635,163 | $ | 863,572 | ||||||
Note_6_18_Senior_secured_conve
Note 6 - 18% Senior secured convertible promissory notes | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Secured Convertible Promissory Notes [Abstract] | ' | ||||||||||||||||
Secured Convertible Promissory Notes [Text Block] | ' | ||||||||||||||||
6 | 18% Senior secured convertible promissory notes | ||||||||||||||||
During the period from November 2012 through March 8, 2013, the Company entered subscriptions payable for 18% senior secured convertible promissory notes (the “Senior Secured Notes”) from select accredited investors. The Company completed the offering and issued an aggregate $2,000,000 in Senior Secured Notes on March 8, 2013. As of March 31, 2013, the Company had outstanding $2,000,000 in Senior Secured Notes and had $66,520 in accrued interest expense. As of December 31, 2012, the Company had received subscriptions payable for Senior Secured Notes in the aggregate principal amount of $430,000 and had accrued interest expense of $8,516. | |||||||||||||||||
The Senior Secured Notes have a six month term from the subscription date and the note holders can convert into Company common stock at anytime during the term at a conversion price of $0.20 per share. Upon the consummation of a qualified financing and/or technology license, as defined in the Senior Secured Note agreements, as amended, of $4,000,000 or more by the Company, the principal and interest on the Senior Secured Notes will automatically convert into Company common stock equal to the lower of (i) the Company common stock issued in the qualified financing and/or technology license, reduced by a discount of 20%, and (ii) $0.20 per share. The note holders will also receive, if any are issued, warrants or any other securities issued in a qualified financing and/or technology license on similar terms to the qualified financing and/or technology license. The Senior Secured Notes are secured by the tangible and intangible assets of the Company. | |||||||||||||||||
The conversion feature embedded in the Senior Secured Notes was accounted for as a derivative liability and resulted in the creation at issuance of a discount to the carrying amount of the debt in the amount of $2,000,000, which was amortized as additional interest expense using the straight-line method over the term of the Senior Secured Notes (the Company determined that using the straight-line method of amortization did not yield a materially different amortization schedule than the effective interest method). The amount of the fair value of the embedded conversion feature in the Senior Secured Notes of $4,908,000, at the date of issuance, less the debt discount, totaled $2,908,000 and was recorded in the “loss on embedded conversion feature of Senior Secured Notes” in the accompanying consolidated statements of comprehensive loss; subsequent fair value adjustments of the embedded conversion feature of $829,000 at March 31, 2013 is also included in this financial statement caption. | |||||||||||||||||
The following table sets forth a summary of changes in the fair value of the derivative liability for the three months ended March 31, 2013: | |||||||||||||||||
Description | Balance at December 31, 2012 | New Issuance | Change in Fair Value | Balance at March 31, 2013 | |||||||||||||
Derivative liability: | |||||||||||||||||
Embedded conversion feature of Senior Secured Notes | $ | - | $ | 4,908,000 | $ | 829,000 | $ | 5,737,000 | |||||||||
On July 31, 2013, all of the holders of the Senior Secured Notes voluntarily converted all of the outstanding principal and interest of the Senior Secured Notes into Company common stock. The aggregate outstanding amount of principal and interest on the Senior Secured Notes at July 31, 2013 of $2,186,906 was converted into 10,934,533 shares of Company common stock at the conversion price of $0.20 per share - the market price at the time the subscription agreement was written - pursuant to the Senior Secured Note agreements. In return for the holders’ voluntarily converting the outstanding Senior Secured Notes on or before July 31, 2013, the Company agreed to issue to the holders warrants to purchase an aggregate total of 1,988,095 shares of Company common stock (the “Class H Warrants”). The Class H Warrants have an exercise price of $0.80 per share and are exercisable during the five-year period beginning on the date of issuance. In July 2013, the Company recorded a loss from extinguishment of debt of $1,073,572, which was the estimated fair value of the warrants issued to the holders on the date of exchange calculated using the Black-Scholes pricing model using the following primary inputs of: (i) $0.60 closing stock price on the date of grant, (ii) the expected time the warrants will be outstanding of five-years, (iii) estimated discount rate of 1.38%, and (iv) expected volatility of 149% based on historical data from companies similar in size and value to the Company. | |||||||||||||||||
Kevin A. Richardson, II, chairman of the board of directors of the Company, converted an aggregate balance of $64,500 of the Senior Secured Notes and received 322,500 shares of Company common stock and 58,635 Class H Warrants in the foregoing transaction. | |||||||||||||||||
Accrued interest expense on the Senior Secured Notes, including amortization of the debt discount, totaled $428,467 for the three months ended March 31, 2013. |
Note_7_Notes_Payable_Related_P
Note 7 - Notes Payable, Related Parties | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Debt Disclosure [Text Block] | ' | ||||||||
7 | Notes payable, related parties | ||||||||
The notes payable, related parties consist of the following: | |||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Notes payable, unsecured, payable to | |||||||||
HealthTronics, Inc., a shareholder of the Company | $ | 5,372,743 | $ | 5,372,743 | |||||
Less current portion | - | - | |||||||
Non-current portion | $ | 5,372,743 | $ | 5,372,743 | |||||
The notes payable, related parties were issued in conjunction with the Company’s purchase of the orthopedic division of HealthTronics, Inc. on August 1, 2005. The notes payable, related parties bear interest at 6% per annum. Quarterly interest through June 30, 2010, was accrued and added to the principal balance. Interest is paid quarterly in arrears beginning September 30, 2010. All remaining unpaid accrued interest and principal is due August 1, 2015. Accrued interest currently payable totaled $80,072 and $163,729 at March 31, 2014 and December 31, 2013, respectively. | |||||||||
Interest expense on notes payable to related parties totaled $81,108 and $80,071 for the three months ended March 31, 2014 and 2013, respectively. |
Note_8_Income_Taxes
Note 8 - Income Taxes | 3 Months Ended | |
Mar. 31, 2014 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Tax Disclosure [Text Block] | ' | |
8 | Income taxes | |
The Company files income tax returns in the United States federal jurisdiction and various state and foreign jurisdictions. The Company is no longer subject to United States federal and state and non-United States income tax examinations by tax authorities for years before 2010. | ||
At March 31, 2014, the Company had federal net operating loss (“NOL”) carryforwards of $59,299,144 for tax years through the year ended December 31, 2013, that will begin to expire in 2025. The use of deferred tax assets, including federal net operating losses, is limited to future taxable earnings. Based on the required analysis of future taxable income under the provisions of ASC 740, Income Taxes (formerly SFAS No. 109), the Company’s management believes that there is not sufficient evidence at March 31, 2014 indicating that the results of operations will generate sufficient taxable income to realize the net deferred tax asset in years beyond 2014. As a result, a valuation allowance was provided for the entire net deferred tax asset related to future years, including NOL carryforwards. | ||
The Company’s ability to use its NOL carryforwards could be limited and subject to annual limitations. In connection with future offerings, the Company may realize a “more than 50% change in ownership” which could further limit its ability to use its NOL carryforwards accumulated to date to reduce future taxable income and tax liabilities. Additionally, because United States tax laws limit the time during which NOL carryforwards may be applied against future taxable income and tax liabilities, the Company may not be able to take advantage of all or portions of its NOL carryforwards for federal income tax purposes. |
Note_9_Equity_Transactions
Note 9 - Equity Transactions | 3 Months Ended | |
Mar. 31, 2014 | ||
Stockholders' Equity Note [Abstract] | ' | |
Stockholders' Equity Note Disclosure [Text Block] | ' | |
9 | Equity transactions | |
2014 Private Placement | ||
On March 17, 2014, in conjunction with a private placement of securities (the “2014 Private Placement”) with institutional and select accredited investors, the Company issued an aggregate total of 6,210,000 shares of common stock and 6,175 shares of preferred stock (the “Series A Convertible Preferred Stock”) for an aggregate total purchase price of $9,280,000. Each share of Series A Convertible Preferred Stock is convertible into 2,000 shares of common stock at the option of the holder. The net proceeds received by the Company were $8,562,500, net of offering costs of $717,500. | ||
The Company, in connection with the 2014 Private Placement, issued to the investors an aggregate total of 23,200,000 warrants (the “Series A Warrants”) to purchase shares of common stock at an exercise price of $0.50 per share. Each Series A Warrant represents the right to purchase one share of Common Stock. The warrants vested upon issuance and expire after five years. | ||
In addition, the Company, in connection with the 2014 Private Placement, issued to the investors an aggregate total of 13,920,000 warrants (the “Series B Warrants”) to purchase shares of common stock at an exercise price of $1.50 per share. Each Series B Warrant represents the right to purchase one share of Common Stock. The warrants vested upon issuance and expire after one year. | ||
Pursuant to the terms of a registration rights agreement that the Company entered with the investors in connection with the 2014 Private Placement, the Company filed a registration statement with the SEC in April 2014 that covers the shares of common stock and the shares of common stock issuable upon conversion of the Series A Convertible Preferred Stock and exercise of the Series A Warrants and Series B Warrants. The registration statement was declared effective by the SEC on May 6, 2014. | ||
Kevin A. Richardson, II, chairman of the board of directors of the Company and Co-Chief Executive Officer; Joseph Chiarelli, the former Chief Executive Officer of the Company and a member of the Company’s board of directors; and, Michael N. Nemelka, the brother of a member of the Company’s board of directors and an existing shareholder of the Company, were purchasers in the 2014 Private Placement of $50,000, $40,000 and $50,000, respectively. | ||
At the closing of the 2014 Private Placement, the Company paid Newport Coast Securities, Inc., the placement agent for the private placement, and Oppenheimer & Co. Inc., the former placement agent, cash compensation based on the gross proceeds of the private placement and 696,000 Series A Warrants and 417,600 Series B Warrants. | ||
18% Convertible Promissory Notes | ||
During the period January 24, 2014 through March 7, 2014, the Company entered into subscriptions payable for 18% convertible promissory notes, as amended, (the “18% Convertible Promissory Notes”) from selected accredited investors. Up to $1,000,000 aggregate principal amount of 18% Convertible Promissory Notes were offered by the Company. The Company completed the offering and issued an aggregate $815,000 in convertible notes in March 2014. Michael N. Nemelka, the brother of a member of the Company’s board of directors and an existing shareholder of the Company, purchased $110,000 of the convertible notes. | ||
The 18% Convertible Promissory Notes have a nine month term from the subscription date and the note holders can convert into Company common stock at anytime during the term at $0.55 per share. Upon the consummation of a qualified financing, as defined in the convertible note agreements, of $1,000,000 or more by the Company, the principal and interest on the 18% Convertible Promissory Notes convert into Company common stock equal to the lower of (i) the Company common stock issued in the qualified financing, and (ii) $0.55 per share. The note holders also receive, if any are issued, warrants or any other security issued in a qualified financing on similar terms to the qualified financing. The 18% Convertible Promissory Notes are unsecured. | ||
The 2014 Private Placement was a qualified financing as defined in the 18% Convertible Promissory Notes. As such, on March 17, 2014, in conjunction with the 2014 Private Placement discussed above, the 18% Convertible Promissory Notes, with an aggregate outstanding principal and accrued interest balance of $822,168, were automatically converted and the holders received in the aggregate 1,644,337 shares of common stock. In addition, the holders received an aggregate total of 2,055,421 Series A Warrants and 1,233,252 Series B Warrants. | ||
$278,500 Convertible Promissory Note and Warrants | ||
On February 10, 2014, the Company entered into a financing transaction with an accredited investor for the sale of an 8% convertible promissory note (the “$278,500 Convertible Note”) and warrants (the “Class J Warrants”) in the principal amount of $278,500, with gross proceeds of $250,000 to the Company after payment of a 10% original issue discount and related professional expenses. | ||
The $278,500 Convertible Note and Class J Warrants were issued pursuant to the terms of a purchase agreement among the Company and the holder. The convertible note is an unsecured obligation of the Company and, unless earlier redeemed, matures on August 11, 2014. The convertible note bears interest accruing at the rate of 8% per annum and includes a 10%, or $25,000, original issuance discount. The Company has the right to prepay the convertible note and accrued interest during the first 180 days following the date of issuance. During that time, the amount of any prepayment during the first 60 days is 120% of the outstanding amounts owed, and the amount of the prepayment increases every subsequent 30 days. The $278,500 Convertible Note is convertible, after the first 180 days, in whole or in part, at the option of the investor, into shares of Company common stock at a conversion price of the lower of 75% of the lowest reported sale price of the Company’s common stock for the 20 trading days immediately prior to (i) the closing date of the financing, or (ii) 75% of the lowest reported sale price for the 20 days prior the conversion date of the convertible note. The convertible note includes full ratchet anti-dilution protection for any lower priced issuances of common stock or securities convertible or exchangeable into Company common stock. | ||
The Class J Warrants entitle the holder to purchase, in the aggregate, 629,378 shares of the Company’s common stock. The Warrants will not be exercisable until the six month anniversary of the closing date (August 10, 2014) and will expire five years from the closing date. The Class J Warrants have an exercise price equal to $0.4425. The Class J Warrants may be exercised for cash or on a cashless basis. The exercise price of the warrants is subject to adjustment for stock splits, combinations or similar events, and, in this event, the number of shares issuable upon the exercise of the warrant will also be adjusted so that the aggregate exercise price shall be the same immediately before and immediately after the adjustment. In addition, the exercise price is also subject to a “full ratchet” anti-dilution adjustment where if the Company issues or is deemed to have issued securities at a price lower than the then applicable exercise price. | ||
In the first quarter of 2014, the Company recorded additional interest expense of $339,864, which was the estimated fair value of the Class J Warrants on the date of grant, February 10, 2014, calculated using the Black-Scholes pricing model using the following primary inputs of: (i) $0.60 closing stock price on the date of grant, (ii) the expected time the warrants will be outstanding of five-years, (iii) estimated discount rate of 1.48%, and (iv) expected volatility of 137% based on historical data from the Company and other companies similar in size and value to the Company. | ||
In March 2014, the Company repaid the $278,500 Convertible Note in full which totaled $337,171 with accrued interest and a prepayment penalty of $56,195. | ||
$128,500 Convertible Promissory Note | ||
On December 23, 2013, the Company entered into a financing transaction with an accredited investor for the sale of an 8% convertible promissory note (the “$128,500 Convertible Note”) in the principal amount of $128,500, with gross proceeds of $125,000 to the Company after payment of related professional expenses. | ||
The $128,500 Convertible Note was issued pursuant to the terms of a purchase agreement among the Company and the accredited investor. The convertible note is an unsecured obligation of the Company and, unless earlier redeemed, matures on September 26, 2014. The convertible note bears interest accruing at the rate of 8% per annum. The Company has the right to prepay the convertible note and accrued interest during the first 180 days following the date of issuance. During that time, the amount of any prepayment during the first 30 days is 115% of the outstanding amounts owed, and the amount of the prepayment increases every subsequent 30 days. | ||
The $128,500 Convertible Note is convertible, after the first 180 days, in whole or in part, at the option of the investor, into shares of Company common stock at a conversion price of 61% of the lowest three reported sale prices of the Company’s common stock for the 10 trading days immediately prior to the conversion date. The convertible note includes full ratchet anti-dilution protection for any lower priced issuances of common stock or securities convertible or exchangeable into Company common stock. | ||
In March 2014, the Company repaid the $128,500 Convertible Note in full which totaled $158,055, with accrued interest and prepayment penalty of $29,555. | ||
$78,500 Convertible Promissory Note | ||
On February 18, 2014, the Company entered into a second tranche of financing with the accredited investor for the $128,500 Convertible Note for the sale of 8% Convertible Promissory Note (the “$78,500 Convertible Note”) under the same terms as the first tranche in the principal amount of $78,500, with gross proceeds of $75,000 to the Company after payment of related professional expenses. | ||
The $78,500 Convertible Note was issued pursuant to the terms of a purchase agreement among the Company and the accredited investor. The convertible note is an unsecured obligation of the Company and, unless earlier redeemed, matures on November 20, 2014. The convertible note bears interest accruing at the rate of 8% per annum. The Company has the right to prepay the convertible note and accrued interest during the first 180 days following the date of issuance. During that time, the amount of any prepayment during the first 30 days is 115% of the outstanding amounts owed, and the amount of the prepayment increases every subsequent 30 days. | ||
The $78,500 Convertible Note is convertible, after the first 180 days, in whole or in part, at the option of the investor, into shares of Company common stock at a conversion price of 61% of the lowest three reported sale prices of the Company’s common stock for the 10 trading days immediately prior to the conversion date. The convertible note includes full ratchet anti-dilution protection for any lower priced issuances of common stock or securities convertible or exchangeable into Company common stock. | ||
In March 2014, the Company repaid the $78,500 Convertible Note in full which totaled $90,275 with accrued interest and prepayment penalty of $11,775. | ||
Consulting Agreements | ||
In February 2014, the Company renewed one consulting contract and entered into three additional consulting agreements for which a portion of the fee for the services performed was paid with Company common stock. The Company issued 835,000 shares of common stock under these new agreements in February and March, 2014. The fair value of the common stock issued to the consultants, based upon the closing market price of the Company’s common stock at the dates the common stock was issued, was recorded as a non-cash general and administrative expense for the three months ended March 31, 2014. |
Note_10_Preferred_Stock
Note 10 - Preferred Stock | 3 Months Ended | |
Mar. 31, 2014 | ||
Disclosure Text Block Supplement [Abstract] | ' | |
Preferred Stock [Text Block] | ' | |
10 | Preferred Stock | |
The Company’s articles of incorporation authorize the issuance of up to 5,000,000 shares of “blank check” preferred stock with designations, rights and preferences as may be determined from time to time by the board of directors. On March 14, 2014, the Company filed a Certificate of Designation of Preferences, Rights and Limitations for Series A Convertible Preferred Stock of the Company (the “Certificate of Designation”) with the Nevada Secretary of State. The Certificate of Designation amends the Company’s Articles of Incorporation to designate 6,175 shares of preferred stock, par value $0.001 per share, as Series A Convertible Preferred Stock. The Series A Convertible Preferred Stock has a stated value of $1,000 per share. On March 17, 2014, in connection with the 2014 Private Placement, the Company issued 6,175 shares of Series A Convertible Preferred Stock (for a more detailed discussion regarding the 2014 Private Placement, see Note 9). | ||
Under the Certificate of Designation, holders of Series A Convertible Preferred Stock are entitled to receive dividends equal (on an as-if-converted-to-common-stock basis) to and in the same form as dividends (other than dividends in the form of common stock) actually paid on shares of the common stock when, as and if such dividends are paid. Such holders will participate on an equal basis per-share with holders of common stock in any distribution upon winding up, dissolution, or liquidation of the Company. Holders of Series A Convertible Preferred Stock are entitled to convert each share of Series A Preferred Stock into 2,000 shares of common stock, provided that after giving effect to such conversion, such holder, together with its affiliates, shall not beneficially own in excess of 9.99% of the number of shares of common stock outstanding (the “Beneficial Ownership Limitation”). Holders of the Series A Convertible Preferred Stock are entitled to vote on all matters affecting the holders of the common stock on an “as converted” basis, provided that such holder shall only vote such shares of Series A Convertible Preferred Stock eligible for conversion without exceeding the Beneficial Ownership Limitation. |
Note_11_Warrants
Note 11 - Warrants | 3 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||||
Warrants [Abstract] | ' | |||||||||||||||||||||||||
Warrants [Text Block] | ' | |||||||||||||||||||||||||
11 | Warrants | |||||||||||||||||||||||||
A summary of the warrant activity as of March 31, 2014 and December 31, 2013, and the changes during the three months ended March 31, 2014, is presented as follows: | ||||||||||||||||||||||||||
Outstanding | Outstanding | |||||||||||||||||||||||||
as of | as of | |||||||||||||||||||||||||
December 31, | March 31, | Exercise | Expiration | |||||||||||||||||||||||
Warrant class | 2013 | Issued | Exercised | Expired | 2014 | price/share | date | |||||||||||||||||||
Class A Warrants | 1,106,627 | - | - | - | 1,106,627 | $ | 4 | Sept, 2014 | ||||||||||||||||||
Class B Warrants | 1,106,627 | - | - | - | 1,106,627 | $ | 8 | Sept, 2014 | ||||||||||||||||||
Class E Warrants | 3,576,737 | - | - | - | 3,576,737 | $ | 4 | Apr, 2016 | ||||||||||||||||||
Class F Warrants | 300,000 | - | - | - | 300,000 | $ | 0.35 | Feb, 2018 | ||||||||||||||||||
Class G Warrants | 1,503,409 | - | - | - | 1,503,409 | $ | 0.8 | Jul, 2018 | ||||||||||||||||||
Class H Warrants | 1,988,095 | - | - | - | 1,988,095 | $ | 0.8 | Jul, 2018 | ||||||||||||||||||
Class I Warrants | 1,043,646 | - | - | - | 1,043,646 | $ | 0.85 | Sept, 2018 | ||||||||||||||||||
Class J Warrants | - | 629,378 | - | - | 629,378 | $ | 0.44 | Feb, 2019 | ||||||||||||||||||
Series A Warrants | - | 25,951,421 | - | - | 25,951,421 | $ | 0.5 | Mar, 2019 | ||||||||||||||||||
Series B Warrants | - | 15,570,852 | - | - | 15,570,852 | $ | 1.5 | Mar, 2015 | ||||||||||||||||||
10,625,141 | 42,151,651 | - | - | 52,776,792 | ||||||||||||||||||||||
Note_12_Commitments_and_Contin
Note 12 - Commitments and Contingencies | 3 Months Ended | |
Mar. 31, 2014 | ||
Commitments and Contingencies Disclosure [Abstract] | ' | |
Commitments and Contingencies Disclosure [Text Block] | ' | |
12 | Commitments and contingencies | |
Subscription agreement | ||
On November 27, 2012, the Company and David N. Nemelka (the “Subscriber”), the brother of John F. Nemelka, a member of the Company’s board of directors, entered into a subscription agreement (the “Subscription Agreement”) whereby the Subscriber has agreed to purchase from the Company, and the Company has agreed to sell and issue, a total of 4,000,000 shares of the Company’s unregistered common stock at a purchase price equal to $0.25 per share, for an aggregate sales price of $1,000,000 (the “Purchase Price”). The shares are subject to piggy-back registration rights if the Company files a registration statement for an offering of securities. | ||
The Purchase Price shall be payable to the Company as follows: (i) $50,000 on or before January 31, 2013; (ii) $50,000 on or before February 15, 2013; and (iii) the balance of $900,000 on or before May 27, 2014 (the “Outside Due Date”). The Subscriber may make payments of the Purchase Price at his discretion in minimum installments of $100,000 each, until the Outside Due Date. | ||
In the event that at any time after February 15, 2013, the Company’s total available cash should be less than $100,000, the Subscriber shall, upon demand of the Company, pay to the Company $100,000 of the then outstanding balance of the Purchase Price, which payment shall be due within thirty (30) days of the demand. There is no limit on the number of demands that the Company may make pursuant to this provision of the Subscription Agreement, provided, however, that in no event shall the Company provide more than one notice of demand for payment in any 30 day period. | ||
As of March 31, 2014, the Subscriber had paid the Company $100,000 and was issued 400,000 shares of unregistered common stock of the Company. The Company will record the additional $900,000 and issue the corresponding 3,600,000 shares of common stock in the periods in which the Purchase Price is received. | ||
Operating Leases | ||
Rent expense for the three months ended March 31, 2014 and 2013, was $29,934 and $27,474, respectively. | ||
Litigation | ||
The Company is involved in various legal matters that have arisen in the ordinary course of business. While the ultimate outcome of these matters is not presently determinable, it is the opinion of management that the resolution will not have a material adverse effect on the financial position or results of operations of the Company. |
Note_13_Stockbased_Compensatio
Note 13 - Stock-based Compensation | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | ' | ||||||||
13 | Stock-based compensation | ||||||||
On November 1, 2010, the Company approved the Amended and Restated 2006 Stock Incentive Plan of SANUWAVE Health, Inc. effective as of January 1, 2010 (the “Stock Incentive Plan”). The Stock Incentive Plan permits grants of awards to selected employees, directors and advisors of the Company in the form of restricted stock or options to purchase shares of common stock. Options granted may include non-statutory options as well as qualified incentive stock options. The Stock Incentive Plan is currently administered by the board of directors of the Company. The Stock Incentive Plan gives broad powers to the board of directors of the Company to administer and interpret the particular form and conditions of each option. The stock options granted under the Stock Incentive Plan are non-statutory options which generally vest over a period of up to four years and have a ten year term. The options are granted at an exercise price determined by the board of directors of the Company to be the fair market value of the common stock on the date of the grant. At March 31, 2014 and December 31, 2013, the Stock Incentive Plan reserved 8,500,000 shares of common stock for grant. | |||||||||
There were no stock options grants during the three months ended March 31, 2014. For the three months ended March 31, 2013, the Company made the following stock option grants: | |||||||||
On February 21, 2013, the Company, by mutual agreement with all the active employees and directors of the Company, cancelled options granted to the active employees in the year ended December 31, 2011 and prior which totaled 1,113,644 shares of common stock at an average exercise price of $2.92. In exchange for these options, the active employees and directors received new options to purchase 2,243,644 shares of common stock at an exercise price of $0.35 per share. Using the Black-Scholes option pricing model, management has determined that the options at the grant date, net of the value of the cancelled options as of the date of cancellation, had an average fair value per share of $0.223 resulting in total compensation of $499,621. Compensation cost will be recognized over the requisite service period. | |||||||||
On February 21, 2013, the Company granted two members of the Company’s Medical Advisory Board each options to purchase 50,000 shares of the Company’s common stock at an exercise price of $0.35 per share in place of an annual cash consulting fee for calendar year 2013. Using the Black-Scholes option pricing model, management has determined that the options had a fair value per share of $0.64 resulting in compensation expense of $64,000. Compensation cost will be recognized over the calendar year 2013. | |||||||||
On February 25, 2013, Joseph Chiarelli joined the Company to serve as the Chief Executive Officer and a director of the Company. Mr. Chiarelli was granted options to purchase 2,250,000 shares of the Company’s common stock at an exercise price of $0.35 per share. The options vest and become exercisable in five installments as follows: (i) 375,000 vested at grant; (ii) 375,000 vest upon the Company completing a financing resulting in gross proceeds to the Company of no less than $5,000,000 at a price per share of not less than $0.35; (iii) 375,000 upon the execution by the Company of a license or distribution agreement from which the Company is entitled to receive gross proceeds of no less than $1,000,000 and the Company has received payments of at least $250,000; (iv) 375,000 vest upon receipt by the Company of FDA approval for the use of dermaPACE; and (v) 750,000 vest in the event the Company achieves the milestones (i), (ii), (iii) and (iv) above during the initial two year term and the term is not extended by the Company. Using the Black-Scholes option pricing model, management has determined that the options had an average fair value per share of $0.207 resulting in total compensation of $465,000. Compensation cost will be recognized over the requisite service period. | |||||||||
The fair value of each option award is estimated on the date of grant using the Black-Scholes option pricing model using the following weighted average assumptions for the three months ended March 31, 2013: | |||||||||
2013 | |||||||||
Weighted average expected life in years | 4.3 | ||||||||
Weighted average risk free interest rate | 0.72 | % | |||||||
Weighted average volatility | 150 | % | |||||||
Forfeiture rate | 0 | % | |||||||
Expected dividend yield | 0 | % | |||||||
The expected life of options granted represent the period of time that options granted are expected to be outstanding and are derived from the contractual terms of the options granted. The risk-free rate for periods within the contractual life of the option is based on the U.S. Treasury yield curve in effect at the time of the grant. Since there is a limited trading history for the Company’s common stock, the expected volatility is based on a combination of historical data from companies similar in size, value and trading history for the Company’s common stock. The amount of stock-based compensation expense recognized during a period is based on the portion of the awards that are ultimately expected to vest. Management estimates pre-vesting forfeitures at the time of grant and revises those estimates in subsequent periods if actual forfeitures differ from those estimates. Ultimately, the total expense recognized over the vesting period will equal the fair value of the awards that actually vest. The expected dividend yield is based on historical dividend experience, however, since inception the Company has not declared dividends. | |||||||||
The Company recognized as compensation cost for all outstanding stock options granted to employees, directors and advisors, $70,778 and $317,601 for the three months ended March 31, 2014 and 2013, respectively. | |||||||||
A summary of option activity as of March 31, 2014 and December 31, 2013, and the changes during the three months ended March 31, 2014, is presented as follows: | |||||||||
Weighted | |||||||||
Average | |||||||||
Exercise Price | |||||||||
Options | per share | ||||||||
Outstanding as of December 31, 2013 | 8,366,830 | $ | 1.17 | ||||||
Granted | - | $ | - | ||||||
Exercised | (60,000 | ) | $ | 0.21 | |||||
Cancelled | - | $ | - | ||||||
Forfeited or expired | - | $ | - | ||||||
Outstanding as of March 31, 2014 | 8,306,830 | $ | 1.17 | ||||||
Exercisable | 6,067,290 | $ | 1.48 | ||||||
The range of exercise prices for options was $0.21 to $2.92 for options outstanding at March 31, 2014 and December 31, 2013. The aggregate intrinsic value for the exercised options was $28,900 for the three months ended March 31, 2014. The aggregate intrinsic value for outstanding options was $1,895,078 and $1,271,540 at March 31, 2014 and December 31, 2013, respectively. The aggregate intrinsic value for all vested and exercisable options was $1,142,029 and $574,181 at March 31, 2014 and December 31, 2013, respectively. | |||||||||
The weighted average remaining contractual term for outstanding exercisable stock options is 7.06 years as of March 31, 2014 and 6.96 years as of December 31, 2013. | |||||||||
A summary of the Company’s nonvested options as of March 31, 2014 and December 31, 2013, and changes during the three months ended March 31, 2014, is presented as follows: | |||||||||
Weighted | |||||||||
Average | |||||||||
Exercise Price | |||||||||
Options | per share | ||||||||
Outstanding as of December 31, 2013 | 3,254,092 | $ | 0.35 | ||||||
Granted | - | $ | - | ||||||
Vested | (1,014,552 | ) | $ | 0.35 | |||||
Cancelled | - | $ | - | ||||||
Forfeited or expired | - | $ | - | ||||||
Outstanding as of March 31, 2014 | 2,239,540 | $ | 0.34 | ||||||
Note_14_Earnings_Loss_Per_Shar
Note 14 - Earnings (Loss) Per Share | 3 Months Ended | |
Mar. 31, 2014 | ||
Earnings Per Share [Abstract] | ' | |
Earnings Per Share [Text Block] | ' | |
14 | Earnings (loss) per share | |
The Company calculates net income (loss) per share in accordance with ASC 260, Earnings Per Share (formerly SFAS No. 128, Earnings Per Share). Under the provisions of ASC 260, basic net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders for the period by the weighted average number of shares of common stock outstanding for the period. Diluted net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted average number of shares of common stock and dilutive common stock equivalents then outstanding. To the extent that securities are “anti-dilutive,” they are excluded from the calculation of diluted net income (loss) per share. | ||
As a result of the net loss for the three months ended March 31, 2014 and 2013, respectively, all potentially dilutive shares were anti-dilutive and therefore excluded from the computation of diluted net loss per share. The anti-dilutive equity securities totaled 73,433,622 shares and 26,726,924 shares at March 31, 2014 and 2013, respectively. |
Note_3_Property_and_Equipment_
Note 3 - Property and Equipment (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Property, Plant and Equipment [Abstract] | ' | ||||||||
Property, Plant and Equipment [Table Text Block] | ' | ||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Machines and equipment | $ | 235,738 | $ | 233,793 | |||||
Office and computer equipment | 171,404 | 171,404 | |||||||
Software | 41,872 | 41,872 | |||||||
Furniture and fixtures | 22,447 | 22,447 | |||||||
Other assets | 2,446 | 2,446 | |||||||
Total | 473,907 | 471,962 | |||||||
Accumulated depreciation | (463,410 | ) | (458,695 | ) | |||||
Net property and equipment | $ | 10,497 | $ | 13,267 |
Note_4_Intangible_Assets_Table
Note 4 - Intangible Assets (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure Text Block [Abstract] | ' | ||||||||
Schedule of Finite-Lived Intangible Assets [Table Text Block] | ' | ||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Patents, at cost | $ | 3,502,135 | $ | 3,502,135 | |||||
Less accumulated amortization | (2,658,555 | ) | (2,581,866 | ) | |||||
Net intangible assets | $ | 843,580 | $ | 920,269 |
Note_5_Accrued_expenses_Tables
Note 5 - Accrued expenses (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Payables and Accruals [Abstract] | ' | ||||||||
Schedule of Accrued Liabilities [Table Text Block] | ' | ||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Accrued executive severance | $ | 400,000 | $ | 400,000 | |||||
Accrued consultants | 79,100 | 58,000 | |||||||
Accrued legal professional fees | 50,000 | 29,500 | |||||||
Accrued audit and tax preparation | 25,760 | 91,000 | |||||||
Accrued clinical study expenses | 23,285 | 188,927 | |||||||
Accrued board of directors fees | 12,000 | 37,333 | |||||||
Accrued other | 45,018 | 58,812 | |||||||
$ | 635,163 | $ | 863,572 |
Note_6_18_Senior_secured_conve1
Note 6 - 18% Senior secured convertible promissory notes (Tables) | 3 Months Ended | ||||||||||||||||
Mar. 31, 2014 | |||||||||||||||||
Secured Convertible Promissory Notes [Abstract] | ' | ||||||||||||||||
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | ' | ||||||||||||||||
Description | Balance at December 31, 2012 | New Issuance | Change in Fair Value | Balance at March 31, 2013 | |||||||||||||
Derivative liability: | |||||||||||||||||
Embedded conversion feature of Senior Secured Notes | $ | - | $ | 4,908,000 | $ | 829,000 | $ | 5,737,000 |
Note_7_Notes_Payable_Related_P1
Note 7 - Notes Payable, Related Parties (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Debt Disclosure [Abstract] | ' | ||||||||
Schedule of Debt [Table Text Block] | ' | ||||||||
March 31, | December 31, | ||||||||
2014 | 2013 | ||||||||
Notes payable, unsecured, payable to | |||||||||
HealthTronics, Inc., a shareholder of the Company | $ | 5,372,743 | $ | 5,372,743 | |||||
Less current portion | - | - | |||||||
Non-current portion | $ | 5,372,743 | $ | 5,372,743 |
Note_11_Warrants_Tables
Note 11 - Warrants (Tables) | 3 Months Ended | |||||||||||||||||||||||||
Mar. 31, 2014 | ||||||||||||||||||||||||||
Warrants [Abstract] | ' | |||||||||||||||||||||||||
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | ' | |||||||||||||||||||||||||
Outstanding | Outstanding | |||||||||||||||||||||||||
as of | as of | |||||||||||||||||||||||||
December 31, | March 31, | Exercise | Expiration | |||||||||||||||||||||||
Warrant class | 2013 | Issued | Exercised | Expired | 2014 | price/share | date | |||||||||||||||||||
Class A Warrants | 1,106,627 | - | - | - | 1,106,627 | $ | 4 | Sept, 2014 | ||||||||||||||||||
Class B Warrants | 1,106,627 | - | - | - | 1,106,627 | $ | 8 | Sept, 2014 | ||||||||||||||||||
Class E Warrants | 3,576,737 | - | - | - | 3,576,737 | $ | 4 | Apr, 2016 | ||||||||||||||||||
Class F Warrants | 300,000 | - | - | - | 300,000 | $ | 0.35 | Feb, 2018 | ||||||||||||||||||
Class G Warrants | 1,503,409 | - | - | - | 1,503,409 | $ | 0.8 | Jul, 2018 | ||||||||||||||||||
Class H Warrants | 1,988,095 | - | - | - | 1,988,095 | $ | 0.8 | Jul, 2018 | ||||||||||||||||||
Class I Warrants | 1,043,646 | - | - | - | 1,043,646 | $ | 0.85 | Sept, 2018 | ||||||||||||||||||
Class J Warrants | - | 629,378 | - | - | 629,378 | $ | 0.44 | Feb, 2019 | ||||||||||||||||||
Series A Warrants | - | 25,951,421 | - | - | 25,951,421 | $ | 0.5 | Mar, 2019 | ||||||||||||||||||
Series B Warrants | - | 15,570,852 | - | - | 15,570,852 | $ | 1.5 | Mar, 2015 | ||||||||||||||||||
10,625,141 | 42,151,651 | - | - | 52,776,792 |
Note_13_Stockbased_Compensatio1
Note 13 - Stock-based Compensation (Tables) | 3 Months Ended | ||||||||
Mar. 31, 2014 | |||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ' | ||||||||
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | ' | ||||||||
2013 | |||||||||
Weighted average expected life in years | 4.3 | ||||||||
Weighted average risk free interest rate | 0.72 | % | |||||||
Weighted average volatility | 150 | % | |||||||
Forfeiture rate | 0 | % | |||||||
Expected dividend yield | 0 | % | |||||||
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | ' | ||||||||
Weighted | |||||||||
Average | |||||||||
Exercise Price | |||||||||
Options | per share | ||||||||
Outstanding as of December 31, 2013 | 8,366,830 | $ | 1.17 | ||||||
Granted | - | $ | - | ||||||
Exercised | (60,000 | ) | $ | 0.21 | |||||
Cancelled | - | $ | - | ||||||
Forfeited or expired | - | $ | - | ||||||
Outstanding as of March 31, 2014 | 8,306,830 | $ | 1.17 | ||||||
Exercisable | 6,067,290 | $ | 1.48 | ||||||
Schedule of Other Share-based Compensation, Activity [Table Text Block] | ' | ||||||||
Weighted | |||||||||
Average | |||||||||
Exercise Price | |||||||||
Options | per share | ||||||||
Outstanding as of December 31, 2013 | 3,254,092 | $ | 0.35 | ||||||
Granted | - | $ | - | ||||||
Vested | (1,014,552 | ) | $ | 0.35 | |||||
Cancelled | - | $ | - | ||||||
Forfeited or expired | - | $ | - | ||||||
Outstanding as of March 31, 2014 | 2,239,540 | $ | 0.34 |
Note_2_Summary_of_Significant_1
Note 2 - Summary of Significant Accounting Policies (Details) (USD $) | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2013 | Dec. 31, 2012 |
Accounting Policies [Abstract] | ' | ' | ' | ' |
Cash and Cash Equivalents, at Carrying Value | $7,231,946 | $182,315 | $671,027 | $70,325 |
Note_3_Property_and_Equipment_1
Note 3 - Property and Equipment (Details) (USD $) | 3 Months Ended | 15 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Mar. 31, 2014 | |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation | $4,715 | $4,991 | $4,991 |
Note_3_Property_and_Equipment_2
Note 3 - Property and Equipment (Details) - Property and Equipment (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | $473,907 | $471,962 |
Accumulated depreciation | -463,410 | -458,695 |
Net property and equipment | 10,497 | 13,267 |
Machinery and Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 235,738 | 233,793 |
Office Equipment [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 171,404 | 171,404 |
Software Development [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 41,872 | 41,872 |
Furniture and Fixtures [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | 22,447 | 22,447 |
Property, Plant and Equipment, Other Types [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment | $2,446 | $2,446 |
Note_4_Intangible_Assets_Detai
Note 4 - Intangible Assets (Details) (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Disclosure Text Block [Abstract] | ' | ' |
Amortization of Intangible Assets | $76,689 | $76,689 |
Note_4_Intangible_Assets_Detai1
Note 4 - Intangible Assets (Details) - Intangible Assets (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Intangible Assets [Abstract] | ' | ' |
Patents, at cost | $3,502,135 | $3,502,135 |
Less accumulated amortization | -2,658,555 | -2,581,866 |
Net intangible assets | $843,580 | $920,269 |
Note_5_Accrued_expenses_Detail
Note 5 - Accrued expenses (Details) - Accrued Expenses (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Note 5 - Accrued expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued executive severance | $400,000 | $400,000 |
Accrued consultants | 79,100 | 58,000 |
Accrued clinical study expenses | 23,285 | 188,927 |
Accrued board of directors fees | 12,000 | 37,333 |
Accrued other | 45,018 | 58,812 |
635,163 | 863,572 | |
Legal and Professional Fees [Member] | ' | ' |
Note 5 - Accrued expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued professional fees | 50,000 | 29,500 |
Audit and Tax Preparation [Member] | ' | ' |
Note 5 - Accrued expenses (Details) - Accrued Expenses [Line Items] | ' | ' |
Accrued professional fees | $25,760 | $91,000 |
Note_6_18_Senior_secured_conve2
Note 6 - 18% Senior secured convertible promissory notes (Details) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | 0 Months Ended | 1 Months Ended | 3 Months Ended | ||||||
Jul. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Jul. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Mar. 08, 2013 | Jul. 31, 2013 | Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2012 | |
Class H Warrants [Member] | Class H Warrants [Member] | Board of Directors Chairman [Member] | Board of Directors Chairman [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | Senior Secured Notes [Member] | |||||
Senior Secured Notes [Member] | |||||||||||||
Note 6 - 18% Senior secured convertible promissory notes (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 18.00% | ' | ' | ' | ' | ' | ' | 18.00% | ' | ' | ' | ' |
Notes Issued | ' | ' | ' | ' | ' | ' | ' | ' | $2,000,000 | ' | ' | ' | ' |
Convertible Notes Payable, Current | ' | ' | ' | 147,775 | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' |
Interest Payable, Current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 66,520 | 8,516 |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 430,000 |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | '6 months | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | $0.20 | $0.20 | ' | ' | ' |
Debt Conversion, Original Debt, Amount | ' | ' | ' | ' | ' | ' | 64,500 | ' | 4,000,000 | ' | ' | ' | ' |
Debt Instrument, Convertible, Terms of Conversion Feature, Common Stock Discount | ' | ' | ' | ' | ' | ' | ' | ' | 20.00% | ' | ' | ' | ' |
Debt Instrument, Unamortized Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000 | ' | ' |
Embedded Derivative, Fair Value of Embedded Derivative Liability | ' | ' | 5,737,000 | ' | ' | ' | ' | ' | ' | ' | 4,908,000 | ' | ' |
Embedded Derivative, Loss on Embedded Derivative | ' | ' | 3,737,000 | ' | ' | ' | ' | ' | ' | ' | 2,908,000 | ' | ' |
Embedded Derivative, Fair Value Adjustment Of Embedded Derivative Liability | ' | ' | 829,000 | ' | ' | ' | ' | ' | ' | ' | ' | 829,000 | ' |
Secured Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,186,906 | ' | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | ' | ' | ' | ' | ' | ' | 322,500 | ' | ' | 10,934,533 | ' | ' | ' |
Warrants Issued (in Shares) | ' | 42,151,651 | ' | ' | 1,988,095 | ' | ' | 58,635 | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | ' | ' | ' | 0.8 | 0.8 | ' | ' | ' | ' | ' | ' | ' |
Warrants Term | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' |
Gains (Losses) on Extinguishment of Debt | -1,073,572 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | $0.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Term | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | 1.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Volatility Rate | 149.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Increase, Accrued Interest | ' | $7,168 | ' | ' | ' | ' | ' | ' | ' | ' | ' | $428,467 | ' |
Note_6_18_Senior_secured_conve3
Note 6 - 18% Senior secured convertible promissory notes (Details) - Summary of Changes in the Fair Value of the Derivative Liability (USD $) | 3 Months Ended |
Mar. 31, 2013 | |
Summary of Changes in the Fair Value of the Derivative Liability [Abstract] | ' |
Embedded conversion feature of Senior Secured Notes | $4,908,000 |
Embedded conversion feature of Senior Secured Notes | 829,000 |
Embedded conversion feature of Senior Secured Notes | $5,737,000 |
Note_7_Notes_Payable_Related_P2
Note 7 - Notes Payable, Related Parties (Details) (Note Payable To HealthTronics [Member], USD $) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | |
Note Payable To HealthTronics [Member] | ' | ' | ' |
Note 7 - Notes Payable, Related Parties (Details) [Line Items] | ' | ' | ' |
Related Party Transaction, Rate | ' | ' | 6.00% |
Interest Payable, Current | $80,072 | ' | $163,729 |
Interest Expense, Related Party | $81,108 | $80,071 | ' |
Note_7_Notes_Payable_Related_P3
Note 7 - Notes Payable, Related Parties (Details) - Notes Payable (USD $) | Mar. 31, 2014 | Dec. 31, 2013 |
Notes payable, unsecured, payable to | ' | ' |
HealthTronics, Inc., a shareholder of the Company | $5,372,743 | $5,372,743 |
Non-current portion | $5,372,743 | $5,372,743 |
Note_8_Income_Taxes_Details
Note 8 - Income Taxes (Details) (USD $) | Mar. 31, 2014 |
Income Tax Disclosure [Abstract] | ' |
Operating Loss Carryforwards | $59,299,144 |
Note_9_Equity_Transactions_Det
Note 9 - Equity Transactions (Details) (USD $) | 1 Months Ended | 3 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 2 Months Ended | 3 Months Ended | 3 Months Ended | 0 Months Ended | 3 Months Ended | 1 Months Ended | 1 Months Ended | 0 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||||||
Jul. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Mar. 17, 2014 | Feb. 10, 2014 | Dec. 23, 2013 | Feb. 18, 2014 | Mar. 31, 2014 | Mar. 17, 2014 | Mar. 31, 2014 | Mar. 17, 2014 | Mar. 31, 2014 | Feb. 10, 2014 | Feb. 10, 2014 | Mar. 31, 2014 | Mar. 07, 2014 | Mar. 17, 2014 | Mar. 31, 2014 | Mar. 17, 2014 | Mar. 07, 2014 | Feb. 10, 2014 | Mar. 31, 2014 | Mar. 31, 2014 | Dec. 23, 2013 | Feb. 18, 2014 | Mar. 31, 2014 | Feb. 18, 2014 | |
Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | Private Placements [Member] | During First 60 Days [Member] | During First 60 Days [Member] | During First 60 Days [Member] | Consulting Agreements [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Class J Warrants [Member] | Class J Warrants [Member] | Class J Warrants [Member] | Michael N. Nemelka [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | 18% Convertible Promissory Notes [Member] | 18% Convertible Promissory Notes [Member] | 8% Convertible Promissory Notes [Member] | 8% Convertible Promissory Notes [Member] | $128,500 Convertible Note [Member] | $128,500 Convertible Note [Member] | $128,500 Convertible Note [Member] | $78,500 Convertible Note [Member] | $78,500 Convertible Note [Member] | ||||
Series A Warrants [Member] | Series A Warrants [Member] | Series A Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Series B Warrants [Member] | Board of Directors Chairman [Member] | Joseph Chiarelli [Member] | Michael N. Nemelka [Member] | Series A Preferred Stock [Member] | 8% Convertible Promissory Notes [Member] | $128,500 Convertible Note [Member] | $78,500 Convertible Note [Member] | 18% Convertible Promissory Notes [Member] | 18% Convertible Promissory Notes [Member] | Interest Expense [Member] | 8% Convertible Promissory Notes [Member] | 18% Convertible Promissory Notes [Member] | ||||||||||||||||||||
Common Stock [Member] | Newport Coast Securities, Inc and Oppenheimer & Co. Inc [Member] | Common Stock [Member] | Newport Coast Securities, Inc and Oppenheimer & Co. Inc [Member] | ||||||||||||||||||||||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock Issued During Period, Shares, New Issues (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,175 | 6,210,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,175 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Private Placement, Gross | ' | ' | ' | ' | ' | ' | ' | ' | ' | $50,000 | $40,000 | $50,000 | $9,280,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible Preferred Stock, Shares Issued upon Conversion (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Issuance of Private Placement | ' | 8,562,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,562,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments of Stock Issuance Costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 717,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants Issued (in Shares) | ' | 42,151,651 | ' | ' | ' | 23,200,000 | ' | ' | 13,920,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,951,421 | ' | 15,570,852 | ' | 629,378 | 629,378 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per Item) | ' | ' | ' | ' | ' | 0.5 | ' | ' | 1.5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.5 | ' | 1.5 | ' | 0.4425 | 0.44 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares) | ' | ' | ' | 1 | ' | ' | 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrants or Right, Exercisable Term | ' | ' | ' | ' | ' | '5 years | ' | ' | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Class of Warrant or Right, Outstanding (in Shares) | ' | 52,776,792 | 10,625,141 | ' | 696,000 | ' | ' | 417,600 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,055,421 | 25,951,421 | 1,233,252 | 15,570,852 | ' | ' | 629,378 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Interest Rate, Stated Percentage | ' | 18.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18.00% | 8.00% | ' | ' | 8.00% | ' | ' | 8.00% |
Debt Instrument, Face Amount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | 278,500 | ' | ' | 128,500 | 128,500 | ' | 78,500 |
Proceeds from Convertible Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 815,000 | 250,000 | ' | ' | 125,000 | ' | ' | 75,000 |
Due to Related Parties | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 110,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '9 months | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.55 | ' | ' | ' | ' | ' | ' | ' |
Convertible Debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 822,168 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,644,337 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Original Issuance Discount, Percent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | ' | ' | ' | ' | ' |
Debt Instrument Original Issuance Discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' | ' | ' | ' | ' | ' |
Debt Instrument, Prepayment Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '180 days | ' | ' | '180 days | ' | ' | '180 days |
Debt Instrument, Prepayment Amount as a Percentage of Outstanding Balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 120.00% | 115.00% | 115.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Convertible, Threshold Trading Days | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 20 | ' | ' | 10 | ' | ' | 10 |
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75.00% | ' | ' | 61.00% | ' | ' | 61.00% |
Warrants Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants and Rights Outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 339,864 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Price (in Dollars per share) | $0.60 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.60 | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Term | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' |
Fair Value Inputs, Discount Rate | 1.38% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.48% | ' | ' | ' | ' | ' | ' |
Fair Value Assumptions, Expected Volatility Rate | 149.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 137.00% | ' | ' | ' | ' | ' | ' |
Repayments of Convertible Debt | ' | 450,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 337,171 | 158,055 | ' | ' | 90,275 | ' |
Payment of Prepayment Penalty | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $56,195 | $29,555 | ' | ' | $11,775 | ' |
Stock Issued During Period, Shares, Issued for Services (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 835,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Note_10_Preferred_Stock_Detail
Note 10 - Preferred Stock (Details) (USD $) | Mar. 31, 2014 | Mar. 13, 2014 | Dec. 31, 2013 | Mar. 17, 2014 | Mar. 31, 2014 | Mar. 13, 2014 | Mar. 31, 2014 |
Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | Series A Preferred Stock [Member] | ||||
Maximum [Member] | |||||||
Note 10 - Preferred Stock (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Preferred Stock, Shares Authorized | 4,993,825 | 5,000,000 | 5,000,000 | ' | ' | 6,175 | ' |
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $0.00 | ' | $0.00 | ' | ' | $0.00 | ' |
Preferred Stock, Stated Value Per Share (in Dollars per share) | ' | ' | ' | ' | ' | $1,000 | ' |
Stock Issued During Period, Shares, New Issues | ' | ' | ' | 6,175 | ' | ' | ' |
Convertible Preferred Stock, Shares Issued upon Conversion | ' | ' | ' | ' | 2,000 | ' | ' |
Convertible Preferred Stock, Beneficial Ownership Limitation Conversion Percentage | ' | ' | ' | ' | ' | ' | 9.99% |
Note_11_Warrants_Details_Warra
Note 11 - Warrants (Details) - Warrant Activity | 1 Months Ended | 3 Months Ended | |
Jul. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 52,776,792 | 10,625,141 |
Issued | ' | 42,151,651 | ' |
Class A Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 1,106,627 | 1,106,627 |
Exercise Price (in Dollars per Item) | ' | 4 | ' |
Expiration Date | ' | 'Sept, 2014 | ' |
Class B Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 1,106,627 | 1,106,627 |
Exercise Price (in Dollars per Item) | ' | 8 | ' |
Expiration Date | ' | 'Sept, 2014 | ' |
Class E Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 3,576,737 | 3,576,737 |
Exercise Price (in Dollars per Item) | ' | 4 | ' |
Expiration Date | ' | 'Apr, 2016 | ' |
Class F Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 300,000 | 300,000 |
Exercise Price (in Dollars per Item) | ' | 0.35 | ' |
Expiration Date | ' | 'Feb, 2018 | ' |
Class G Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 1,503,409 | 1,503,409 |
Exercise Price (in Dollars per Item) | ' | 0.8 | ' |
Expiration Date | ' | 'Jul, 2018 | ' |
Class H Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 1,988,095 | 1,988,095 |
Issued | 1,988,095 | ' | ' |
Exercise Price (in Dollars per Item) | 0.8 | 0.8 | ' |
Expiration Date | ' | 'Jul, 2018 | ' |
Class I Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 1,043,646 | 1,043,646 |
Exercise Price (in Dollars per Item) | ' | 0.85 | ' |
Expiration Date | ' | 'Sept, 2018 | ' |
Class J Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 629,378 | ' |
Issued | ' | 629,378 | ' |
Exercise Price (in Dollars per Item) | ' | 0.44 | ' |
Expiration Date | ' | 'Feb, 2019 | ' |
Series A Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 25,951,421 | ' |
Issued | ' | 25,951,421 | ' |
Exercise Price (in Dollars per Item) | ' | 0.5 | ' |
Expiration Date | ' | 'Mar, 2019 | ' |
Series B Warrants [Member] | ' | ' | ' |
Class of Warrant or Right [Line Items] | ' | ' | ' |
Oustanding | ' | 15,570,852 | ' |
Issued | ' | 15,570,852 | ' |
Exercise Price (in Dollars per Item) | ' | 1.5 | ' |
Expiration Date | ' | 'Mar, 2015 | ' |
Note_12_Commitments_and_Contin1
Note 12 - Commitments and Contingencies (Details) (USD $) | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||||||
Mar. 31, 2014 | Mar. 31, 2013 | Jul. 31, 2013 | Nov. 27, 2012 | Nov. 27, 2012 | Nov. 27, 2012 | Nov. 27, 2012 | Nov. 27, 2012 | Mar. 31, 2014 | |
Should Total Available Cash be Less than $100,000 [Member] | Subscription Agreement [Member] | Subscription Agreement [Member] | Subscription Agreement [Member] | Subscription Agreement [Member] | Subscription Agreement [Member] | ||||
Subscription Agreement [Member] | On Or Before January 31, 2013 [Member] | On Or Before February 15, 2013 [Member] | On Or Before May 27, 2014 [Member] | ||||||
Note 12 - Commitments and Contingencies (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | ' | ' | ' | ' | ' | ' | ' | 4,000,000 | 3,600,000 |
Share Price (in Dollars per share) | ' | ' | $0.60 | ' | ' | ' | ' | $0.25 | ' |
Aggregate Sales Price for Common Stock | ' | ' | ' | ' | ' | ' | ' | $1,000,000 | ' |
Receivable from Shareholders or Affiliates for Issuance of Capital Stock | ' | ' | ' | 100,000 | 50,000 | 50,000 | 900,000 | ' | 900,000 |
Minimum Installment Amount of Purchase Price | ' | ' | ' | ' | ' | ' | 100,000 | ' | ' |
Available Cash, Threshold | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' |
Proceeds from Issuance of Common Stock | ' | ' | ' | ' | ' | ' | ' | ' | 100,000 |
Stock Issued During Period, Shares, New Issues (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 |
Operating Leases, Rent Expense, Net | $29,934 | $27,474 | ' | ' | ' | ' | ' | ' | ' |
Note_13_Stockbased_Compensatio2
Note 13 - Stock-based Compensation (Details) (USD $) | 3 Months Ended | 1 Months Ended | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | |||||||||||||||
Mar. 31, 2014 | Mar. 31, 2013 | Dec. 31, 2013 | Feb. 25, 2013 | Feb. 25, 2013 | Feb. 25, 2013 | Feb. 25, 2013 | Feb. 25, 2013 | Feb. 25, 2013 | Nov. 30, 2010 | Feb. 21, 2013 | Feb. 21, 2013 | Feb. 21, 2013 | Feb. 25, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Feb. 25, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | |
Vested at Grant [Member] | Options Vesting Upon Company Completing $5.0 Million Gross Proceeds [Member] | Options Vesting Upon Company Completing $1.0 Million Gross Proceeds [Member] | Options Vesting Upon Company Completing $1.0 Million Gross Proceeds [Member] | Upon Events Tied To Clinical Trial Plan for DermaPACE Device [Member] | Upon Achieveing All Milestones During Initial Two Year Term and the Term is Not Extended by Company [Member] | Employee Stock Option [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | ||||
Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Stock Incentive Plan [Member] | Active Employees and Directors [Member] | Each Member of Medical Advisory Board [Member] | Members of Medical Advisory Board [Member] | Chief Executive Officer [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | ||||||
Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Minimum [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | Chief Executive Officer [Member] | |||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||
Note 13 - Stock-based Compensation (Details) [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | ' | ' | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8,500,000 | 8,500,000 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,243,644 | 50,000 | ' | 2,250,000 | ' | ' | ' | ' | ' | ' | ' |
Share-Based Compensation Arrangement, By Share-Based Payment Award, Options, Cancel In Period (in Shares) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,113,644 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share Based Compensation Arrangement By Share Based Payment Award Options Cancelled In Period Weighted Average Exercise Price Per Share (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2.92 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.35 | $0.35 | ' | $0.35 | ' | ' | $0.35 | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in Dollars per share) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.22 | $0.64 | ' | $0.21 | ' | ' | ' | ' | ' | ' | ' |
Allocated Share-based Compensation Expense | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $499,621 | ' | $64,000 | $465,000 | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Options Vesting (in Shares) | ' | ' | ' | 375,000 | 375,000 | 375,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Receipt For Option Vesting Threshold | ' | ' | ' | ' | 5,000,000 | 1,000,000 | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedInPeriod (in Shares) | ' | ' | ' | ' | ' | ' | ' | 375,000 | 750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation | 70,778 | 317,601 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $1.17 | ' | $1.17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $0.21 | $0.21 | $2.92 | $2.92 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 28,900 | ' | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,895,078 | 1,271,540 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Aggregate Intrinsic Value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,142,029 | $574,181 | ' | ' | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years 21 days | '6 years 350 days | ' | ' | ' | ' | ' |
Note_13_Stockbased_Compensatio3
Note 13 - Stock-based Compensation (Details) - Fair Value Assumptions | 3 Months Ended |
Mar. 31, 2014 | |
Fair Value Assumptions [Abstract] | ' |
Weighted average expected life in years | '4 years 109 days |
Weighted average risk free interest rate | 0.72% |
Weighted average volatility | 150.00% |
Forfeiture rate | 0.00% |
Expected dividend yield | 0.00% |
Note_13_Stockbased_Compensatio4
Note 13 - Stock-based Compensation (Details) - Option Activity (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Dec. 31, 2013 | |
Option Activity [Abstract] | ' | ' |
Outstanding number | 8,306,830 | 8,366,830 |
Outstanding weighted average exercise price per share | $1.17 | $1.17 |
Exercised | -60,000 | ' |
Exercised | $0.21 | ' |
Exercisable | 6,067,290 | ' |
Exercisable | $1.48 | ' |
Note_13_Stockbased_Compensatio5
Note 13 - Stock-based Compensation (Details) - Nonvested Options Activity (USD $) | 3 Months Ended | |
Mar. 31, 2014 | Dec. 31, 2013 | |
Nonvested Options Activity [Abstract] | ' | ' |
Outstanding number | 2,239,540 | 3,254,092 |
Outstanding weighted average exercise price per share | $0.34 | $0.35 |
Vested | -1,014,552 | ' |
Vested | $0.35 | ' |
Note_14_Earnings_Loss_Per_Shar1
Note 14 - Earnings (Loss) Per Share (Details) | 3 Months Ended | |
Mar. 31, 2014 | Mar. 31, 2013 | |
Earnings Per Share [Abstract] | ' | ' |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 73,433,622 | 26,726,924 |