Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2015 | Aug. 07, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | SANUWAVE Health, Inc. | |
Trading Symbol | snwv | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 63,056,519 | |
Amendment Flag | false | |
Entity Central Index Key | 1,417,663 | |
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 | Jun. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q2 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 1,615,727 | $ 3,547,071 |
Accounts receivable, net of allowance for doubtful accounts of $11,919 in 2015 and $15,018 in 2014 | 48,508 | 86,404 |
Inventory | 268,140 | 271,871 |
Prepaid expenses | 145,454 | 128,550 |
TOTAL CURRENT ASSETS | 2,077,829 | 4,033,896 |
PROPERTY AND EQUIPMENT, at cost, less accumulated depreciation (Note 4) | 5,990 | 7,840 |
OTHER ASSETS | 11,286 | 11,106 |
INTANGIBLE ASSETS, at cost, less accumulated amortization (Note 5) | 460,135 | 613,513 |
TOTAL ASSETS | 2,555,240 | 4,666,355 |
CURRENT LIABILITIES | ||
Accounts payable | 285,528 | 231,840 |
Accrued expenses (Note 6) | 349,802 | 369,456 |
Accrued employee compensation | 127,809 | 2,226 |
Interest payable, related parties (Note 7) | 80,968 | 81,864 |
Notes payable, related parties (Note 7) | 5,372,743 | |
Warrant liability (Note 11) | 569,900 | 159,626 |
TOTAL CURRENT LIABILITIES | 1,414,007 | 6,217,755 |
NON-CURRENT LIABILITIES | ||
Notes payable, related parties (Note 7) | 5,336,705 | |
TOTAL LIABILITIES | $ 6,750,712 | $ 6,217,755 |
COMMITMENTS AND CONTINGENCIES (Note 12) | ||
STOCKHOLDERS' DEFICIT | ||
COMMON STOCK, par value $0.001, 150,000,000 shares authorized; 63,056,519 and 60,726,519 issued and outstanding in 2015 and 2014, respectively (Note 9) | $ 63,057 | $ 60,727 |
ADDITIONAL PAID-IN CAPITAL | 86,632,205 | 86,584,472 |
ACCUMULATED DEFICIT | (90,864,771) | (88,184,123) |
ACCUMULATED OTHER COMPREHENSIVE LOSS | (25,963) | (12,477) |
TOTAL STOCKHOLDERS' DEFICIT | (4,195,472) | (1,551,400) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | 2,555,240 | 4,666,355 |
Convertible Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred Stock | 0 | 1 |
Undesignated Preferred Stock [Member] | ||
STOCKHOLDERS' DEFICIT | ||
Preferred Stock | $ 0 | $ 0 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Accounts Receivable, Allowance for Doubtful Accounts (in Dollars) | $ 11,919 | $ 15,018 |
Preferred stock, shares authorized | 5,000,000 | |
Common stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 150,000,000 | 150,000,000 |
Common Stock, shares issued | 63,056,519 | 60,726,519 |
Common Stock, shares outstanding | 63,056,519 | 60,726,519 |
Convertible Preferred Stock [Member] | ||
Preferred stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 6,175 | 6,175 |
Preferred stock, shares issued | 6,175 | 6,175 |
Preferred stock, shares outstanding | 0 | 1,165 |
Undesignated Preferred Stock [Member] | ||
Preferred stock par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 4,993,825 | 4,993,825 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
REVENUES | $ 239,983 | $ 238,115 | $ 450,435 | $ 383,213 |
COST OF REVENUES | 75,779 | 63,399 | 134,597 | 81,736 |
GROSS PROFIT | 164,204 | 174,716 | 315,838 | 301,477 |
OPERATING EXPENSES | ||||
Research and development | 456,789 | 1,013,652 | 1,091,412 | 1,778,497 |
General and administrative | 636,570 | 694,402 | 1,202,862 | 1,994,713 |
Depreciation | 925 | 4,770 | 1,850 | 9,485 |
Amortization | 76,689 | 76,689 | 153,378 | 153,378 |
TOTAL OPERATING EXPENSES | 1,170,973 | 1,789,513 | 2,449,502 | 3,936,073 |
OPERATING LOSS | (1,006,769) | (1,614,797) | (2,133,664) | (3,634,596) |
OTHER EXPENSE | ||||
Loss on warrant valuation adjustment (Note 11) | (429,311) | (373,285) | ||
Interest expense, net | (81,636) | (77,838) | (160,980) | (620,130) |
Loss on foreign currency exchange | (3,817) | (1,015) | (12,719) | (2,878) |
TOTAL OTHER EXPENSE | (514,764) | (78,853) | (546,984) | (623,008) |
LOSS BEFORE INCOME TAXES | (1,521,533) | (1,693,650) | (2,680,648) | (4,257,604) |
INCOME TAX EXPENSE | 0 | 0 | ||
NET LOSS | (1,521,533) | (1,693,650) | (2,680,648) | (4,257,604) |
OTHER COMPREHENSIVE LOSS | ||||
Foreign currency translation adjustments | (768) | (3,549) | (13,486) | (4,981) |
TOTAL COMPREHENSIVE LOSS | $ (1,522,301) | $ (1,697,199) | $ (2,694,134) | $ (4,262,585) |
LOSS PER SHARE: | ||||
Net loss - basic and diluted (in Dollars per share) | $ (0.02) | $ (0.03) | $ (0.04) | $ (0.10) |
Weighted average shares outstanding - basic and diluted (in Shares) | 63,056,519 | 48,423,293 | 62,993,885 | 44,035,108 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (2,680,648) | $ (4,257,604) |
Adjustments to reconcile loss from continuing operations to net cash used by operating activities | ||
Amortization | 153,378 | 153,378 |
Depreciation | 1,850 | 9,485 |
Change in allowance for doubtful accounts | (3,099) | 151 |
Stock-based compensation - employees, directors and advisors | 50,062 | 57,755 |
Loss on warrant valuation adjustment | 373,285 | |
Amortization of debt discount | 951 | |
Stock issued for consulting services | 743,150 | |
Accretion of interest on warrants issued concurrent with a convertible promissory note | 339,864 | |
Accrued interest on 18% Convertible Promissory Notes | 7,168 | |
Changes in assets - (increase)/decrease | ||
Accounts receivable - trade | 40,995 | 79,864 |
Inventory | 3,731 | (4,599) |
Prepaid expenses | (16,904) | (51,344) |
Other | (180) | 4 |
Changes in liabilities - increase/(decrease) | ||
Accounts payable | 53,688 | (535,902) |
Accrued expenses | (19,654) | (515,409) |
Accrued employee compensation | 125,583 | (14,722) |
Interest payable, related parties | (896) | (82,761) |
Promissory notes - accrued interest | (21,813) | |
NET CASH USED BY OPERATING ACTIVITIES | (1,917,858) | (4,093,335) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of property and equipment | (3,436) | |
NET CASH USED BY INVESTING ACTIVITIES | (3,436) | |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from 2014 Private Placement, net | 8,562,500 | |
Proceeds from sale of capital stock - subscription agreement | 900,000 | |
Proceeds from convertible promissory notes | 815,000 | |
Proceeds from employee stock option exercise | 12,600 | |
Payments of principal on convertible promissory notes | (450,000) | |
Payments of principal on promissory notes | (90,000) | |
Payments of principal on capital lease | (2,608) | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 10,072,492 | |
EFFECT OF EXCHANGE RATES ON CASH | (13,486) | (4,981) |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (1,931,344) | 5,970,740 |
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 3,547,071 | 182,315 |
SUPPLEMENTAL INFORMATION | ||
Cash paid for interest | 161,936 | 244,836 |
CASH AND CASH EQUIVALENTS, END OF PERIOD | $ 1,615,727 | 6,153,055 |
8% Convertible Promissory Notes [Member] | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from convertible promissory notes | $ 325,000 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) | Jun. 30, 2014 |
18% Convertible Promissory Notes | 18.00% |
18% Convertible Promissory Notes [Member] | |
18% Convertible Promissory Notes | 18.00% |
Note 1 - Nature of the Business
Note 1 - Nature of the Business | 6 Months Ended |
Jun. 30, 2015 | |
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 ® 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 ® 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 - Going Concern
Note 2 - Going Concern | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 2. Going Concern The continuation of the Company’s business is dependent upon raising additional capital during the third or early fourth quarter of 2015. As of June 30, 2015, the Company had an accumulated deficit of $90,864,771 and cash and cash equivalents of $1,615,727 . For the six months ended June 30, 2015 and 2014, the net cash used by operating activities was $1,917,858 and $4,093,335, respectively. The Company incurred a net loss of $2,680,648 for the six months ended June 30, 2015 and a net loss of $5,974,080 for the year ended December 31, 2014. The operating losses create an uncertainty about the Company’s ability to continue as a going concern. The Company does not currently generate significant recurring revenue and will require additional capital during the third or early fourth quarter of 2015. Although no assurances can be given, management of the Company believes that existing capital resources should enable the Company to fund operations into the fourth quarter of 2015. The continuation of the Company’s business is dependent upon raising additional capital during the third or early fourth quarter of 2015 to fund operations. Management’s plans are to obtain additional capital through investments by strategic partners for market opportunities, which may include strategic partnerships or licensing arrangements, or raise capital through the issuance of common or preferred stock, securities convertible into common stock, or secured or unsecured debt. These possibilities, to the extent available, may be on terms that result in significant dilution to the Company’s existing shareholders. Although no assurances can be given, management of the Company believes that potential additional issuances of equity or other potential financing transactions as discussed above should provide the necessary funding for the Company to continue as a going concern. If these efforts are unsuccessful, the Company may be forced to seek relief through a filing under the U.S. Bankruptcy Code. The condensed consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | 3 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 June 30, 2015 and for the three and six months ended June 30, 2015 and 2014 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 and six month periods ended June 30, 2015 are not necessarily indicative of the results that may be expected for any other interim period or for the year ending December 31, 2015. The condensed consolidated balance sheet at December 31, 2014 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. 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, 2014, filed with the SEC on March 3, 2015. Recently Issued Accounting Standards New accounting pronouncements are issued by the Financial Standards Board (“FASB”) or other standards setting bodies that the Company adopts according to the various timetables the FASB specifies. The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 6 Months Ended |
Jun. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | 4 . Property and equipment Property and equipment consists of the following: June 30, December 31, 2015 2014 Machines and equipment $ 240,295 $ 240,295 Office and computer equipment 166,398 166,398 Software 34,528 34,528 Furniture and fixtures 20,380 20,380 Other assets 2,259 2,259 Total 463,860 463,860 Accumulated depreciation (457,870 ) (456,020 ) Net property and equipment $ 5,990 $ 7,840 The aggregate depreciation related to property and equipment charged to operations was $925 and $4,770 for the three months ended June 30, 2015 and 2014, respectively, and $1,850 and $9,485 for the six months ended June 30, 2015 and 2014, respectively. |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Intangible Assets Disclosure [Text Block] | 5 . Intangible assets Intangible assets consist of the following: June 30, December 31, 2015 2014 Patents, at cost $ 3,502,135 $ 3,502,135 Less accumulated amortization (3,042,000 ) (2,888,622 ) Net intangible assets $ 460,135 $ 613,513 The aggregate amortization charged to operations was $76,689 for the three months ended June 30, 2015 and 2014 and $153,378 for the six months ended June 30, 2015 and 2014. |
Note 6 - Accrued expenses
Note 6 - Accrued expenses | 6 Months Ended |
Jun. 30, 2015 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 6 . Accrued expenses Accrued expenses consist of the following: June 30, December 31, 2015 2014 Accrued former executive severance $ 100,000 $ 100,000 Accrued clinical study expenses 87,668 64,464 Accrued audit and tax preparation 58,000 55,500 Accrued legal professional fees 40,000 111,600 Accrued board of directors fees 12,000 12,000 Accrued other 52,134 25,892 $ 349,802 $ 369,456 |
Note 7 - Notes Payable, Related
Note 7 - Notes Payable, Related Parties | 6 Months Ended |
Jun. 30, 2015 | |
Debt Disclosure [Abstract] | |
Debt Disclosure [Text Block] | 7. Notes payable, related parties 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 was due August 1, 2015. The notes payable, related parties had an aggregate outstanding principal balance of $5,336,705, net of $36,038 debt discount at June 30, 2015 and $5,372,743 December 31, 2014, respectively. On June 15, 2015, the Company and HealthTronics, Inc. entered into an amendment (the “Note Amendment”) to amend certain provisions of the notes payable, related parties. The Note Amendment provides for the extension of the due date to January 31, 2017. I n connection with the Note Amendment, the Company entered into a security agreement with HealthTronics, Inc. to provide a first security interest in the assets of the Company. The notes payable, related parties will bear interest at 8% per annum effective August 1, 2015 and during any period when an Event of Default occurs, the applicable interest rate shall increase by 2% per annum. The Company will be required to make mandatory prepayments of principal on the notes payable, related parties equal to 20% of the proceeds received by the Company through the issuance or sale of any equity securities in cash or through the licensing of the Company’s patents or other intellectual property rights. In addition, the Company, in connection with the Note Amendment, issued to HealthTronics, Inc. on June 15, 2015, an aggregate total of 3,310,000 warrants (the “Class K Warrants”) to purchase shares of the Company’s common stock, $0.001 par value (the “Common Stock”), at an exercise price of $0.55 per share, subject to certain anti-dilution protection. Each Class K Warrant represents the right to purchase one share of Common Stock. The warrants vested upon issuance and expire after ten years. Accrued interest currently payable totaled $80,968 and $81,864 at June 30, 2015 and December 31, 2014, respectively. Interest expense on notes payable, related parties totaled $80,968 for the three months ended June 30, 2015 and 2014, and $161,039 and $162,076 for the six months ended June 30, 2015 and 2014, respectively. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 6 Months Ended |
Jun. 30, 2015 | |
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 2006. At June 30, 2015, the Company had federal net operating loss (“NOL”) carryforwards of $66,038,028 for tax years through the year ended December 31, 2014, 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 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 | 6 Months Ended |
Jun. 30, 2015 | |
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 was convertible into 2,000 shares of common stock at the option of the holder. The 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 expired in March 2015. 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 covered 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 issued to the investors in the 2014 Private Placement. 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, 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 select 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 had a nine month term from the subscription date and the note holders could 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 would convert into Company common stock equal to the lower of (i) the price of the Company common stock issued in the qualified financing, and (ii) $0.55 per share. The note holders would also receive, if any were issued, warrants or any other security issued in a qualified financing on similar terms to the qualified financing. The 18% Convertible Promissory Notes were 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, 2,055,421 Series A Warrants, and 1,233,252 Series B Warrants. Subscription A greement On November 27, 2012, the Company and David N. Nemelka (the “Subscriber”), the brother of a member of the Company’s board of directors, entered into a subscription agreement (the “Subscription Agreement”) whereby the Subscriber agreed to purchase from the Company, and the Company 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 was 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 could 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 would, upon demand of the Company, pay to the Company $100,000 of the then outstanding balance of the Purchase Price, which payment would be due within 30 days of the demand. There was no limit on the number of demands that the Company could make pursuant to this provision of the Subscription Agreement, provided, however, that in no event could the Company provide more than one notice of demand for payment in any 30 day period. On May 27, 2014, the Subscriber paid the Company the remaining $900,000 and was issued 3,600,000 shares of unregistered common stock of the Company as full settlement of the Subscription Agreement. $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 was an unsecured obligation of the Company and, unless earlier redeemed, matured on August 11, 2014. The convertible note accrued interest at the rate of 8% per annum and included a 10%, or $25,000, original issuance discount. The Company had 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 was 120% of the outstanding amounts owed, and the amount of the prepayment increased every subsequent 30 days. The $278,500 Convertible Note was 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 included 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 were exercisable upon the six month anniversary of the closing date (August 10, 2014) and 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 “down-round” anti-dilution adjustment if the Company issues or is deemed to have issued securities at a price lower than the then applicable exercise price of the warrants. 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 was an unsecured obligation of the Company and, unless earlier redeemed, matured on September 26, 2014. The convertible note accrued interest at the rate of 8% per annum. The Company had 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 was 115% of the outstanding amounts owed, and the amount of the prepayment increased every subsequent 30 days. The $128,500 Convertible Note was 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 included 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 an 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 was an unsecured obligation of the Company and, unless earlier redeemed, matured on November 20, 2014. The convertible note accrued interest at the rate of 8% per annum. The Company had 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 was 115% of the outstanding amounts owed, and the amount of the prepayment increased every subsequent 30 days. The $78,500 Convertible Note was 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 included 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 and 1,035,000 shares of common stock under these agreements for the three months and six months ended June 30, 2014, respectively. 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 of $597,150 and $743,150 for the three and six months ended June 30, 2014, respectively. The Company did not have any consulting contracts in 2015 where a portion of the fee for services was to be paid with common stock. |
Note 10 - Preferred Stock
Note 10 - Preferred Stock | 6 Months Ended |
Jun. 30, 2015 | |
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 Convertible 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. In November and December 2014, the holders of Series A Convertible Preferred Stock converted 5,010 shares of Series A Convertible Preferred Stock into 10,020,000 shares of common stock. On January 6, 2015, the holders of Series A Convertible Preferred Stock converted the remaining 1,165 shares of Series A Convertible Preferred Stock into 2,330,000 shares of common stock. As of June 30, 2015, there were no outstanding shares of Series A Convertible Preferred Stock. |
Note 11 - Warrants
Note 11 - Warrants | 6 Months Ended |
Jun. 30, 2015 | |
Warrants [Abstract] | |
Warrants [Text Block] | 11. Warrants A summary of the warrant activity as of June 30, 2015 and December 31, 2014, and the changes during the six months ended June 30, 2015, is presented as follows: Outstanding Outstanding as of as of December 31, June 30, Warrant class 2014 Issued Exercised Expired 2015 Class E Warrants 3,576,737 - - - 3,576,737 Class F Warrants 300,000 - - - 300,000 Class G Warrants 1,503,409 - - - 1,503,409 Class H Warrants 1,988,095 - - - 1,988,095 Class I Warrants 1,043,646 - - - 1,043,646 Class J Warrants 629,378 - - - 629,378 Class K Warrants - 3,310,000 - - 3,310,000 Series A Warrants 25,951,421 - - - 25,951,421 Series B Warrants 15,570,852 - - (15,570,852 ) - 50,563,538 3,310,000 - (15,570,852 ) 38,302,686 A summary of the warrant exercise price per share and expiration date is presented as follows: Exercise Expiration price/share date Class E Warrants $ 4.00 April 2016 Class F Warrants $ 0.35 February 2018 Class G Warrants $ 0.80 July 2018 Class H Warrants $ 0.80 July 2018 Class I Warrants $ 0.85 September 2018 Class J Warrants $ 0.44 February 2019 Class K Warrants $ 0.55 June 2025 Series A Warrants $ 0.50 March 2019 Series B Warrants $ 1.50 March 2015 The exercise price and the number of shares covered by the warrants will be adjusted if the Company has a stock split, if there is a recapitalization of the Company’s common stock, or if the Company consolidates with or merges into another company. The exercise price of the Class J Warrants, Class K Warrants and the Series A Warrants are subject to a “down-round” anti-dilution adjustment if the Company issues or is deemed to have issued securities at a price lower than the then applicable exercise price of the warrants. The Class J Warrants and Class K Warrants may be exercised on a physical settlement or on a cashless basis. The Series A Warrants may be exercised on a physical settlement basis if a registration statement underlying the warrants is effective. If a registration statement is not effective (or the prospectus contained therein is not available for use) for the resale by the holder of the Series A Warrants, then the holder may exercise the warrants on a cashless basis. The Class J Warrants, the Class K Warrants, the Series A Warrants and the Series B Warrants are derivative financial instruments. The estimated fair value of the Class J Warrants at the date of grant was $12,776. The related debt discount was accreted to interest expense through the maturity date of the related note. The estimated fair value of the Class K Warrants at the date of grant was $36,989 and recorded as debt discount, which will be accreted to interest expense through the maturity date of the related notes payable, related parties. The estimated fair values of the Series A Warrants and the Series B Warrants at the date of grant were $557,733 for the warrants issued in conjunction with the 2014 Private Placement and $47,974 for the warrants issued in conjunction with the 18% Convertible Promissory Notes. The fair value of the Series A Warrants and Series B Warrants were recorded as equity issuance costs in 2014, a reduction of additional paid-in capital. The Series B Warrants expired unexercised in March 2015. The estimated fair values were determined using a binomial option pricing model based on various assumptions. The Company’s derivative liabilities are adjusted to reflect estimated fair value at each period end, with any decrease or increase in the estimated fair value being recorded in other income or expense accordingly, as adjustments to the fair value of derivative liabilities. Various factors are considered in the pricing models the Company uses to value the warrants, including the Company’s current common stock price, the remaining life of the warrants, the volatility of the Company’s common stock price, and the risk-free interest rate. In addition, as of the valuation dates, management assessed the probabilities of future financing and other re-pricing events in the binominal valuation models. A summary of the changes in the warrant liability as of June 30, 2015 and December 31, 2014, and the changes during the six months ended June 30, 2015, is presented as follows: Class J Class K Series A Series B Warrants Warrants Warrants Warrants Total Warrant liability as of December 31, 2014 $ 3,839 $ - $ 155,709 $ 78 $ 159,626 Issued - - - - - Change in fair value (1,315 ) - (54,633 ) (78 ) (56,026 ) Warrant liability as of March 31, 2015 $ 2,524 $ - $ 101,076 $ - $ 103,600 Issued - 36,989 - - 36,989 Change in fair value 9,154 52,878 367,279 - 429,311 Warrant liability as of June 30, 2015 $ 11,678 $ 89,867 $ 468,355 $ - $ 569,900 |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | 12. Commitments and contingencies Operating Leases Rent expense for the three months ended June 30, 2015 and 2014, was $38,505 and $29,907, respectively and for the six months ended June 30, 2015 and 2014, was $71,912 and $59,841, 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 - Stock-based Compensat
Note 13 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 1 3. Stock-based compensation On April 28, 2015, the Company granted two members of the Company’s Medical Advisory Board options to purchase 50,000 shares each of the Company’s common stock at an exercise price of $0.55 per share in place of an annual cash consulting fee for calendar year 2015. Using the Black-Scholes option pricing model, management has determined that the options had a fair value per share of $0.1681 resulting in compensation expense of $16,810. Compensation cost will be recognized over calendar year 2015. 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 six months ended June 30, 2015 and 2014: 2015 2014 Weighted average expected life in years 5.5 5.5 Weighted average risk free interest rate 2.41 % 1.81 % Weighted average volatility 136.1 % 138.0 % Forfeiture rate 0.0 % 0.0 % Expected dividend yield 0.0 % 0.0 % 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, $22,235 and $204,427 for the three months ended June 30, 2015 and 2014, respectively and $50,062 and $275,205 for the six months ended June 30, 2015 and 2014, respectively. A summary of option activity as of June 30, 2015 and December 31, 2014, and the changes during the three and six months ended June 30, 2015, is presented as follows: Weighted Average Exercise Price Options per share Outstanding as of December 31, 2014 7,206,830 $ 1.31 Granted - $ - Exercised - $ - Cancelled - $ - Forfeited or expired - $ - Outstanding as of March 31, 2015 7,206,830 $ 1.31 Granted 100,000 $ 0.55 Exercised - $ - Cancelled - $ - Forfeited or expired - $ - Outstanding as of June 30, 2015 7,306,830 $ 1.30 Exercisable 7,065,162 $ 1.33 The range of exercise prices for options was $0.21 to $2.92 for options outstanding at June 30, 2015 and December 31, 2014. The aggregate intrinsic value for all vested and exercisable options was $0 at June 30, 2015 and December 31, 2014. The weighted average remaining contractual term for outstanding exercisable stock options was 6.15 and 6.43 years as of June 30, 2015 and December 31, 2014, respectively. A summary of the Company’s nonvested options as of June 30, 2015 and December 31, 2014, and changes during the three and six months ended June 30, 2015, is presented as follows: Weighted Average Exercise Price Options per share Outstanding as of December 31, 2014 914,542 $ 0.37 Granted - $ - Vested (631,208 ) $ 0.35 Cancelled - $ - Forfeited or expired - $ - Outstanding as of March 31, 2015 283,334 $ 0.43 Granted 100,000 $ 0.55 Vested (141,666 ) $ 0.55 Cancelled - $ - Forfeited or expired - $ - Outstanding as of June 30, 2015 241,668 $ 0.41 |
Note 14 - Earnings (Loss) Per S
Note 14 - Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2015 | |
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 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 six months ended June 30, 2015 and 2014, 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 45,609,516 shares and 72,833,622 shares at June 30, 2015 and 2014, respectively. |
Note 15 - Subsequent events
Note 15 - Subsequent events | 6 Months Ended |
Jun. 30, 2015 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | 15. Subsequent events The Company has evaluated subsequent events through the date of issuance of the condensed consolidated financial statements. In July 2015, the shareholders of the Company approved increasing the number of authorized shares of common stock to 355,000,000. The Company filed its amended articles of incorporation with the state of Nevada in August 2015. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 6 Months Ended |
Jun. 30, 2015 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | 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 June 30, 2015 and for the three and six months ended June 30, 2015 and 2014 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 and six month periods ended June 30, 2015 are not necessarily indicative of the results that may be expected for any other interim period or for the year ending December 31, 2015. The condensed consolidated balance sheet at December 31, 2014 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. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Standards New accounting pronouncements are issued by the Financial Standards Board (“FASB”) or other standards setting bodies that the Company adopts according to the various timetables the FASB specifies. The Company does not expect the adoption of recently issued accounting pronouncements to have a significant impact on the Company’s results of operations, financial position or cash flow. In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers |
Note 4 - Property and Equipme23
Note 4 - Property and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | June 30, December 31, 2015 2014 Machines and equipment $ 240,295 $ 240,295 Office and computer equipment 166,398 166,398 Software 34,528 34,528 Furniture and fixtures 20,380 20,380 Other assets 2,259 2,259 Total 463,860 463,860 Accumulated depreciation (457,870 ) (456,020 ) Net property and equipment $ 5,990 $ 7,840 |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | June 30, December 31, 2015 2014 Patents, at cost $ 3,502,135 $ 3,502,135 Less accumulated amortization (3,042,000 ) (2,888,622 ) Net intangible assets $ 460,135 $ 613,513 |
Note 6 - Accrued expenses (Tabl
Note 6 - Accrued expenses (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Payables and Accruals [Abstract] | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, 2015 2014 Accrued former executive severance $ 100,000 $ 100,000 Accrued clinical study expenses 87,668 64,464 Accrued audit and tax preparation 58,000 55,500 Accrued legal professional fees 40,000 111,600 Accrued board of directors fees 12,000 12,000 Accrued other 52,134 25,892 $ 349,802 $ 369,456 |
Note 11 - Warrants (Tables)
Note 11 - Warrants (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Warrants [Abstract] | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Outstanding Outstanding as of as of December 31, June 30, Warrant class 2014 Issued Exercised Expired 2015 Class E Warrants 3,576,737 - - - 3,576,737 Class F Warrants 300,000 - - - 300,000 Class G Warrants 1,503,409 - - - 1,503,409 Class H Warrants 1,988,095 - - - 1,988,095 Class I Warrants 1,043,646 - - - 1,043,646 Class J Warrants 629,378 - - - 629,378 Class K Warrants - 3,310,000 - - 3,310,000 Series A Warrants 25,951,421 - - - 25,951,421 Series B Warrants 15,570,852 - - (15,570,852 ) - 50,563,538 3,310,000 - (15,570,852 ) 38,302,686 |
Schedule of Warrant Exercise Price and Expiration Date [Table Text Block] | Exercise Expiration price/share date Class E Warrants $ 4.00 April 2016 Class F Warrants $ 0.35 February 2018 Class G Warrants $ 0.80 July 2018 Class H Warrants $ 0.80 July 2018 Class I Warrants $ 0.85 September 2018 Class J Warrants $ 0.44 February 2019 Class K Warrants $ 0.55 June 2025 Series A Warrants $ 0.50 March 2019 Series B Warrants $ 1.50 March 2015 |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | Class J Class K Series A Series B Warrants Warrants Warrants Warrants Total Warrant liability as of December 31, 2014 $ 3,839 $ - $ 155,709 $ 78 $ 159,626 Issued - - - - - Change in fair value (1,315 ) - (54,633 ) (78 ) (56,026 ) Warrant liability as of March 31, 2015 $ 2,524 $ - $ 101,076 $ - $ 103,600 Issued - 36,989 - - 36,989 Change in fair value 9,154 52,878 367,279 - 429,311 Warrant liability as of June 30, 2015 $ 11,678 $ 89,867 $ 468,355 $ - $ 569,900 |
Note 13 - Stock-based Compens27
Note 13 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2015 2014 Weighted average expected life in years 5.5 5.5 Weighted average risk free interest rate 2.41 % 1.81 % Weighted average volatility 136.1 % 138.0 % Forfeiture rate 0.0 % 0.0 % Expected dividend yield 0.0 % 0.0 % |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Average Exercise Price Options per share Outstanding as of December 31, 2014 7,206,830 $ 1.31 Granted - $ - Exercised - $ - Cancelled - $ - Forfeited or expired - $ - Outstanding as of March 31, 2015 7,206,830 $ 1.31 Granted 100,000 $ 0.55 Exercised - $ - Cancelled - $ - Forfeited or expired - $ - Outstanding as of June 30, 2015 7,306,830 $ 1.30 Exercisable 7,065,162 $ 1.33 |
Schedule of Other Share-based Compensation, Activity [Table Text Block] | Weighted Average Exercise Price Options per share Outstanding as of December 31, 2014 914,542 $ 0.37 Granted - $ - Vested (631,208 ) $ 0.35 Cancelled - $ - Forfeited or expired - $ - Outstanding as of March 31, 2015 283,334 $ 0.43 Granted 100,000 $ 0.55 Vested (141,666 ) $ 0.55 Cancelled - $ - Forfeited or expired - $ - Outstanding as of June 30, 2015 241,668 $ 0.41 |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Disclosure Text Block [Abstract] | ||||||
Retained Earnings (Accumulated Deficit) | $ (90,864,771) | $ (90,864,771) | $ (88,184,123) | |||
Cash and Cash Equivalents, at Carrying Value | 1,615,727 | $ 6,153,055 | 1,615,727 | $ 6,153,055 | 3,547,071 | $ 182,315 |
Net Cash Provided by (Used in) Operating Activities | (1,917,858) | (4,093,335) | ||||
Net Income (Loss) Attributable to Parent | $ (1,521,533) | $ (1,693,650) | $ (2,680,648) | $ (4,257,604) | $ (5,974,080) |
Note 4 - Property and Equipme29
Note 4 - Property and Equipment (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Property, Plant and Equipment [Abstract] | ||||
Depreciation | $ 925 | $ 4,770 | $ 1,850 | $ 9,485 |
Note 4 - Property and Equipme30
Note 4 - Property and Equipment (Details) - Property and Equipment - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment | $ 463,860 | $ 463,860 |
Total | 463,860 | 463,860 |
Accumulated depreciation | (457,870) | (456,020) |
Net property and equipment | 5,990 | 7,840 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 240,295 | 240,295 |
Total | 240,295 | 240,295 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 166,398 | 166,398 |
Total | 166,398 | 166,398 |
Software Development [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 34,528 | 34,528 |
Total | 34,528 | 34,528 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 20,380 | 20,380 |
Total | 20,380 | 20,380 |
Property, Plant and Equipment, Other Types [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment | 2,259 | 2,259 |
Total | $ 2,259 | $ 2,259 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Disclosure Text Block [Abstract] | ||||
Amortization of Intangible Assets | $ 76,689 | $ 76,689 | $ 153,378 | $ 153,378 |
Note 5 - Intangible Assets (D32
Note 5 - Intangible Assets (Details) - Intangible Assets - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Intangible Assets [Abstract] | ||
Patents, at cost | $ 3,502,135 | $ 3,502,135 |
Less accumulated amortization | (3,042,000) | (2,888,622) |
Net intangible assets | $ 460,135 | $ 613,513 |
Note 6 - Accrued expenses (Deta
Note 6 - Accrued expenses (Details) - Accrued Expenses - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
Accrued Expenses [Abstract] | ||
Accrued former executive severance | $ 100,000 | $ 100,000 |
Accrued clinical study expenses | 87,668 | 64,464 |
Accrued audit and tax preparation | 58,000 | 55,500 |
Accrued legal professional fees | 40,000 | 111,600 |
Accrued board of directors fees | 12,000 | 12,000 |
Accrued other | 52,134 | 25,892 |
$ 349,802 | $ 369,456 |
Note 7 - Notes Payable, Relat34
Note 7 - Notes Payable, Related Parties (Details) - USD ($) | Jun. 15, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 |
Note 7 - Notes Payable, Related Parties (Details) [Line Items] | ||||||
Class of Warrant or Right, Issued During Period (in Shares) | 3,310,000 | |||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||
Class K Warrants [Member] | ||||||
Note 7 - Notes Payable, Related Parties (Details) [Line Items] | ||||||
Class of Warrant or Right, Issued During Period (in Shares) | 3,310,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 0.55 | $ 0.55 | ||||
HealthTronics, Inc. [Member] | ||||||
Note 7 - Notes Payable, Related Parties (Details) [Line Items] | ||||||
Related Party Transaction, Rate | 6.00% | |||||
Notes Payable, Related Parties | $ 5,336,705 | $ 5,372,743 | $ 5,336,705 | $ 5,372,743 | ||
Debt Instrument, Unamortized Discount | 36,038 | 36,038 | ||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | |||||
Interest Payable, Current | 80,968 | 80,968 | $ 81,864 | |||
Interest Expense, Related Party | $ 80,968 | $ 80,968 | $ 161,039 | $ 162,076 | ||
HealthTronics, Inc. [Member] | Class K Warrants [Member] | ||||||
Note 7 - Notes Payable, Related Parties (Details) [Line Items] | ||||||
Class of Warrant or Right, Issued During Period (in Shares) | 3,310,000 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 0.55 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 1 | |||||
Class of Warrant or Right, Expiration Period | 10 years | |||||
HealthTronics, Inc. [Member] | Note Amendment [Member] | ||||||
Note 7 - Notes Payable, Related Parties (Details) [Line Items] | ||||||
Related Party Transaction, Rate | 8.00% | |||||
Interest Rate Increase per Annum | 2.00% | |||||
Related Party, Notes Payable, Manditory Prepayment Rate | 20.00% |
Note 8 - Income Taxes (Details)
Note 8 - Income Taxes (Details) | Jun. 30, 2015USD ($) |
Income Tax Disclosure [Abstract] | |
Operating Loss Carryforwards | $ 66,038,028 |
Note 9 - Equity Transactions (D
Note 9 - Equity Transactions (Details) - USD ($) | Mar. 17, 2014 | Feb. 18, 2014 | Feb. 10, 2014 | May. 27, 2014 | Mar. 31, 2014 | Mar. 07, 2014 | Dec. 23, 2013 | Nov. 27, 2012 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | May. 27, 2013 | Feb. 15, 2013 | Jan. 31, 2013 |
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Proceeds from Issuance of Private Placement | $ 8,562,500 | ||||||||||||||
Class of Warrant or Right, Issued During Period (in Shares) | 3,310,000 | ||||||||||||||
Class of Warrant or Right, Outstanding (in Shares) | 38,302,686 | 50,563,538 | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 18.00% | 18.00% | |||||||||||||
Proceeds from Convertible Debt | $ 815,000 | ||||||||||||||
Repayments of Convertible Debt | $ 450,000 | ||||||||||||||
Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 6,210,000 | ||||||||||||||
Proceeds From Issuance of Private Placement, Gross | $ 9,280,000 | ||||||||||||||
Proceeds from Issuance of Private Placement | 8,562,500 | ||||||||||||||
Payments of Stock Issuance Costs | $ 717,500 | ||||||||||||||
Series A Preferred Stock [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 6,175 | ||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in Shares) | 2,000 | ||||||||||||||
Series A Preferred Stock [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 6,175 | ||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion (in Shares) | 2,000 | ||||||||||||||
Consulting Agreements [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in Shares) | 835,000 | 1,035,000 | |||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 597,150 | $ 743,150 | |||||||||||||
Board of Directors Chairman [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Proceeds from Issuance of Private Placement | $ 50,000 | ||||||||||||||
Joseph Chiarelli [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Proceeds from Issuance of Private Placement | 40,000 | ||||||||||||||
Michael N. Nemelka [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Proceeds from Issuance of Private Placement | 50,000 | ||||||||||||||
Subscription Agreement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 3,600,000 | ||||||||||||||
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | 4,000,000 | ||||||||||||||
Share Price (in Dollars per share) | $ 0.25 | ||||||||||||||
Aggregate Sales Price for Common Stock | $ 1,000,000 | ||||||||||||||
Receivable from Shareholders or Affiliates for Issuance of Capital Stock | 100,000 | 100,000 | |||||||||||||
Available Cash, Threshold | $ 100,000 | $ 100,000 | |||||||||||||
Proceeds from Issuance of Common Stock | $ 900,000 | ||||||||||||||
Subscription Agreement [Member] | On or Before January 31, 2013 [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Receivable from Shareholders or Affiliates for Issuance of Capital Stock | $ 50,000 | ||||||||||||||
Subscription Agreement [Member] | On or Before February 15, 2013 [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Receivable from Shareholders or Affiliates for Issuance of Capital Stock | $ 50,000 | ||||||||||||||
Subscription Agreement [Member] | On or Before May 27, 2014 [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Receivable from Shareholders or Affiliates for Issuance of Capital Stock | $ 900,000 | ||||||||||||||
Minimum Installment Amount of Purchase Price | $ 100,000 | ||||||||||||||
18% Convertible Promissory Notes [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 18.00% | 18.00% | |||||||||||||
Debt Instrument, Face Amount | $ 1,000,000 | ||||||||||||||
Proceeds from Convertible Debt | $ 815,000 | ||||||||||||||
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 | ||||||||||||||
18% Convertible Promissory Notes [Member] | Michael N. Nemelka [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Due to Related Parties | $ 110,000 | ||||||||||||||
8% Convertible Promissory Notes [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||
Debt Instrument, Face Amount | $ 278,500 | ||||||||||||||
Proceeds from Convertible Debt | $ 250,000 | ||||||||||||||
Debt Instrument, Original Issuance Discount, Percent | 10.00% | ||||||||||||||
Debt Instrument Original Issuance Discount | $ 25,000 | ||||||||||||||
Debt Instrument, Prepayment Term | 180 days | ||||||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 75.00% | ||||||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 20 | ||||||||||||||
Repayments of Convertible Debt | $ 337,171 | ||||||||||||||
Payment of Prepayment Penalty | 56,195 | ||||||||||||||
8% Convertible Promissory Notes [Member] | During First 60 Days [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Debt Instrument, Prepayment Amount as a Percentage of Outstanding Balance | 120.00% | ||||||||||||||
One Hundred Twenty Eight Thousand Five Hundred Dollars Convertible Note [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 8.00% | |||||||||||||
Debt Instrument, Face Amount | $ 128,500 | $ 128,500 | |||||||||||||
Proceeds from Convertible Debt | $ 125,000 | ||||||||||||||
Debt Instrument, Prepayment Term | 180 days | ||||||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 61.00% | ||||||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 10 | ||||||||||||||
Repayments of Convertible Debt | 158,055 | ||||||||||||||
Payment of Prepayment Penalty | 29,555 | ||||||||||||||
One Hundred Twenty Eight Thousand Five Hundred Dollars Convertible Note [Member] | During First 60 Days [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Debt Instrument, Prepayment Amount as a Percentage of Outstanding Balance | 115.00% | ||||||||||||||
$78,500 Convertible Note [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Debt Instrument, Face Amount | 78,500 | ||||||||||||||
Proceeds from Convertible Debt | $ 75,000 | ||||||||||||||
Debt Instrument, Prepayment Term | 180 days | ||||||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 61.00% | ||||||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 10 | ||||||||||||||
Repayments of Convertible Debt | 90,275 | ||||||||||||||
Payment of Prepayment Penalty | $ 11,775 | ||||||||||||||
$78,500 Convertible Note [Member] | During First 60 Days [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Debt Instrument, Prepayment Amount as a Percentage of Outstanding Balance | 115.00% | ||||||||||||||
Series A Warrants [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 0.50 | ||||||||||||||
Class of Warrant or Right, Outstanding (in Shares) | 25,951,421 | 25,951,421 | |||||||||||||
Series A Warrants [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Issued During Period (in Shares) | 23,200,000 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 0.50 | ||||||||||||||
Class of Warrant or Right, Expiration Period | 5 years | ||||||||||||||
Series A Warrants [Member] | Newport Coast Securities Inc and Oppenheimer CoInc [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Outstanding (in Shares) | 696,000 | ||||||||||||||
Series A Warrants [Member] | Common Stock [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares) | 1 | ||||||||||||||
Series A Warrants [Member] | 18% Convertible Promissory Notes [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Outstanding (in Shares) | 2,055,421 | ||||||||||||||
Series B Warrants [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 1.50 | ||||||||||||||
Class of Warrant or Right, Outstanding (in Shares) | 15,570,852 | ||||||||||||||
Series B Warrants [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Issued During Period (in Shares) | 13,920,000 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 1.50 | ||||||||||||||
Series B Warrants [Member] | Newport Coast Securities Inc and Oppenheimer CoInc [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Outstanding (in Shares) | 417,600 | ||||||||||||||
Series B Warrants [Member] | Common Stock [Member] | Private Placement [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in Shares) | 1 | ||||||||||||||
Series B Warrants [Member] | 18% Convertible Promissory Notes [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Outstanding (in Shares) | 1,233,252 | ||||||||||||||
Class J Warrants [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 0.44 | ||||||||||||||
Class of Warrant or Right, Outstanding (in Shares) | 629,378 | 629,378 | |||||||||||||
Class J Warrants [Member] | 8% Convertible Promissory Notes [Member] | |||||||||||||||
Note 9 - Equity Transactions (Details) [Line Items] | |||||||||||||||
Class of Warrant or Right, Issued During Period (in Shares) | 629,378 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 0.4425 | ||||||||||||||
Class of Warrant or Right, Expiration Period | 5 years |
Note 10 - Preferred Stock (Deta
Note 10 - Preferred Stock (Details) - $ / shares | Jan. 06, 2015 | Mar. 17, 2014 | Dec. 31, 2014 | Jun. 30, 2015 |
Note 10 - Preferred Stock (Details) [Line Items] | ||||
Preferred Stock, Shares Authorized | 5,000,000 | |||
Common Stock [Member] | ||||
Note 10 - Preferred Stock (Details) [Line Items] | ||||
Conversion of Stock, Shares Issued | 2,330,000 | 10,020,000 | ||
Series A Preferred Stock [Member] | ||||
Note 10 - Preferred Stock (Details) [Line Items] | ||||
Preferred Stock, Shares Authorized | 6,175 | |||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | |||
Preferred Stock Stated Value 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% | |||
Conversion of Stock, Shares Converted | 1,165 | 5,010 | ||
Preferred Stock, Shares Outstanding | 0 |
Note 11 - Warrants (Details)
Note 11 - Warrants (Details) - USD ($) | Jun. 30, 2015 | Jun. 15, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Mar. 17, 2014 | Mar. 07, 2014 | Feb. 10, 2014 |
Note 11 - Warrants (Details) [Line Items] | ||||||||
Warrants and Rights Outstanding | $ 569,900 | $ 103,600 | $ 159,626 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 18.00% | |||||||
18% Convertible Promissory Notes [Member] | ||||||||
Note 11 - Warrants (Details) [Line Items] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 18.00% | 18.00% | ||||||
Class J Warrants [Member] | ||||||||
Note 11 - Warrants (Details) [Line Items] | ||||||||
Warrants and Rights Outstanding | 11,678 | $ 2,524 | $ 3,839 | $ 12,776 | ||||
Class K Warrants [Member] | ||||||||
Note 11 - Warrants (Details) [Line Items] | ||||||||
Warrants and Rights Outstanding | $ 89,867 | $ 36,989 | ||||||
Series A and B Warrants [Member] | Private Placement [Member] | ||||||||
Note 11 - Warrants (Details) [Line Items] | ||||||||
Warrants and Rights Outstanding | $ (557,733) | |||||||
Series A and B Warrants [Member] | 18% Convertible Promissory Notes [Member] | ||||||||
Note 11 - Warrants (Details) [Line Items] | ||||||||
Warrants and Rights Outstanding | $ (47,974) |
Note 11 - Warrants (Details) -
Note 11 - Warrants (Details) - Warrant Activity | 6 Months Ended |
Jun. 30, 2015shares | |
Class of Warrant or Right [Line Items] | |
Outstanding | 50,563,538 |
Issued | 3,310,000 |
Expired | (15,570,852) |
Outstanding | 38,302,686 |
Class E Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Outstanding | 3,576,737 |
Outstanding | 3,576,737 |
Class F Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Outstanding | 300,000 |
Outstanding | 300,000 |
Class G Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Outstanding | 1,503,409 |
Outstanding | 1,503,409 |
Class H Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Outstanding | 1,988,095 |
Outstanding | 1,988,095 |
Class I Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Outstanding | 1,043,646 |
Outstanding | 1,043,646 |
Class J Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Outstanding | 629,378 |
Outstanding | 629,378 |
Class K Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Issued | 3,310,000 |
Outstanding | 3,310,000 |
Series A Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Outstanding | 25,951,421 |
Outstanding | 25,951,421 |
Series B Warrants [Member] | |
Class of Warrant or Right [Line Items] | |
Outstanding | 15,570,852 |
Expired | (15,570,852) |
Note 11 - Warrants (Details) 40
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date - Jun. 30, 2015 - $ / shares | Total |
Class E Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 4 |
Expiration date | April 2,016 |
Class F Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 0.35 |
Expiration date | February 2,018 |
Class G Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 0.80 |
Expiration date | July 2,018 |
Class H Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 0.80 |
Expiration date | July 2,018 |
Class I Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 0.85 |
Expiration date | September 2,018 |
Class J Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 0.44 |
Expiration date | February 2,019 |
Class K Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 0.55 |
Expiration date | June 2,025 |
Series A Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 0.50 |
Expiration date | March 2,019 |
Series B Warrants [Member] | |
Note 11 - Warrants (Details) - Warrant Exercise Price Per Share and Expiration Date [Line Items] | |
Exercise price/share | $ 1.50 |
Expiration date | March 2,015 |
Note 11 - Warrants (Details) 41
Note 11 - Warrants (Details) - Changes in the Warrant Liability - USD ($) | 3 Months Ended | |
Jun. 30, 2015 | Mar. 31, 2015 | |
Note 11 - Warrants (Details) - Changes in the Warrant Liability [Line Items] | ||
Warrant liability | $ 103,600 | $ 159,626 |
Issued | 36,989 | |
Change in fair value | 429,311 | (56,026) |
Warrant liability | 569,900 | 103,600 |
Class J Warrants [Member] | ||
Note 11 - Warrants (Details) - Changes in the Warrant Liability [Line Items] | ||
Warrant liability | 2,524 | 3,839 |
Change in fair value | 9,154 | (1,315) |
Warrant liability | 11,678 | 2,524 |
Class K Warrants [Member] | ||
Note 11 - Warrants (Details) - Changes in the Warrant Liability [Line Items] | ||
Issued | 36,989 | |
Change in fair value | 52,878 | |
Warrant liability | 89,867 | |
Series A Warrants [Member] | ||
Note 11 - Warrants (Details) - Changes in the Warrant Liability [Line Items] | ||
Warrant liability | 101,076 | 155,709 |
Change in fair value | 367,279 | (54,633) |
Warrant liability | $ 468,355 | 101,076 |
Series B Warrants [Member] | ||
Note 11 - Warrants (Details) - Changes in the Warrant Liability [Line Items] | ||
Warrant liability | 78 | |
Change in fair value | $ (78) |
Note 12 - Commitments and Con42
Note 12 - Commitments and Contingencies (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | |
Commitments and Contingencies Disclosure [Abstract] | ||||
Operating Leases, Rent Expense, Net | $ 38,505 | $ 29,907 | $ 71,912 | $ 59,841 |
Note 13 - Stock-based Compens43
Note 13 - Stock-based Compensation (Details) - USD ($) | Apr. 28, 2015 | Nov. 30, 2010 | Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 |
Note 13 - Stock-based Compensation (Details) [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 100,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.55 | ||||||
Stock Incentive Plan [Member] | |||||||
Note 13 - Stock-based Compensation (Details) [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 8,500,000 | 8,500,000 | 8,500,000 | ||||
Allocated Share-based Compensation Expense | $ 22,235 | $ 204,427 | $ 50,062 | $ 275,205 | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ 0.21 | $ 0.21 | |||||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ 2.92 | $ 2.92 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | $ 0 | $ 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Weighted Average Remaining Contractual Term | 6 years 54 days | 6 years 156 days | |||||
Stock Incentive Plan [Member] | Medical Advisory Board Member 1 [Member] | |||||||
Note 13 - Stock-based Compensation (Details) [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 50,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.55 | ||||||
Stock Incentive Plan [Member] | Medical Advisory Board Member 2 [Member] | |||||||
Note 13 - Stock-based Compensation (Details) [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 50,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.55 | ||||||
Stock Incentive Plan [Member] | Two Medical Advisory Board Members [Member] | |||||||
Note 13 - Stock-based Compensation (Details) [Line Items] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.1681 | ||||||
Allocated Share-based Compensation Expense | $ 16,810 | ||||||
Employee Stock Option [Member] | Stock Incentive Plan [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 |
Note 13 - Stock-based Compens44
Note 13 - Stock-based Compensation (Details) - Fair Value Assumptions | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Fair Value Assumptions [Abstract] | ||
Weighted average expected life in years | 5 years 6 months | 5 years 6 months |
Weighted average risk free interest rate | 2.41% | 1.81% |
Weighted average volatility | 136.10% | 138.00% |
Forfeiture rate | 0.00% | 0.00% |
Expected dividend yield | 0.00% | 0.00% |
Note 13 - Stock-based Compens45
Note 13 - Stock-based Compensation (Details) - Option Activity - Jun. 30, 2015 - $ / shares | Total |
Option Activity [Abstract] | |
Outstanding number | 7,206,830 |
Outstanding weighted average exercise price per share | $ 1.31 |
Granted number | 100,000 |
Granted weighted average exercise price per share | $ 0.55 |
Exercisable | 7,065,162 |
Exercisable | $ 1.33 |
Outstanding number | 7,306,830 |
Outstanding weighted average exercise price per share | $ 1.30 |
Note 13 - Stock-based Compens46
Note 13 - Stock-based Compensation (Details) - Nonvested Options Activity - $ / shares | 3 Months Ended | |
Jun. 30, 2015 | Mar. 31, 2015 | |
Nonvested Options Activity [Abstract] | ||
Outstanding number | 283,334 | 914,542 |
Outstanding weighted average exercise price per share | $ 0.43 | $ 0.37 |
Granted number | 100,000 | |
Granted weighted average exercise price per share | $ 0.55 | |
Vested number | (141,666) | (631,208) |
Vested weighted average exercise price per share | $ 0.55 | $ 0.35 |
Outstanding number | 241,668 | 283,334 |
Outstanding weighted average exercise price per share | $ 0.41 | $ 0.43 |
Note 14 - Earnings (Loss) Per47
Note 14 - Earnings (Loss) Per Share (Details) - shares | 6 Months Ended | |
Jun. 30, 2015 | Jun. 30, 2014 | |
Earnings Per Share [Abstract] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 45,609,516 | 72,833,622 |
Note 15 - Subsequent events (De
Note 15 - Subsequent events (Details) - shares | Jul. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 |
Note 15 - Subsequent events (Details) [Line Items] | |||
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 | |
Subsequent Event [Member] | |||
Note 15 - Subsequent events (Details) [Line Items] | |||
Common Stock, Shares Authorized | 355,000,000 |
Uncategorized Items - snwv-2015
Label | Element | Value |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice | $ 1.31 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number | us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber | 7,206,830 |