Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2015 | Oct. 13, 2015 | |
Document and Entity Information [Abstract] | ||
Entity Registrant Name | Skyline Medical Inc. | |
Trading Symbol | skln | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 5,203,428 | |
Amendment Flag | false | |
Entity Central Index Key | 1,446,159 | |
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 | Sep. 30, 2015 | |
Document Fiscal Year Focus | 2,015 | |
Document Fiscal Period Focus | Q3 |
Condensed Balance Sheets (Curre
Condensed Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Current Assets: | ||
Cash | $ 7,733,097 | $ 16,384 |
Accounts Receivable | 14,196 | 57,549 |
Inventories | 236,890 | 367,367 |
Prepaid Expense and other assets | 213,223 | 190,015 |
Total Current Assets | 8,197,406 | 631,315 |
Fixed Assets, net | 126,570 | 196,479 |
Intangibles, net | 92,402 | 73,183 |
Total Assets | 8,416,378 | 900,977 |
Current Liabilities: | ||
Accounts Payable | 1,138,512 | 2,194,518 |
Accrued Expenses | 1,434,412 | 3,066,379 |
Short-term notes payable net of discounts of $0 and $194,097 (See Note 4) | 937,424 | |
Deferred Revenue | 29,180 | 5,000 |
Total Current Liabilities | 2,602,104 | 6,203,321 |
Accrued Expenses | 213,883 | |
Total Liabilities | $ 2,602,104 | $ 6,417,204 |
Commitments and Contingencies | ||
Stockholders’ Equity/(Deficit): | ||
Total Stockholders’ Equity/(Deficit) | $ 5,814,274 | $ (5,516,227) |
Series A Convertible Preferred Stock [Member] | ||
Stockholders’ Equity/(Deficit): | ||
Convertible Preferred Stock | 206 | |
Common Stock, $.01 par value, 100,000,000 authorized, 5,203,428 and 3,092,766 outstanding | 52,033 | 30,927 |
Additional paid-in capital | 43,972,722 | 30,093,745 |
Accumulated Deficit | (38,229,431) | (35,641,105) |
Total Stockholders’ Equity/(Deficit) | 5,814,274 | (5,516,227) |
Total Liabilities and Stockholders’ Equity/(Deficit) | 8,416,378 | $ 900,977 |
Series B Convertible Preferred Stock [Member] | ||
Stockholders’ Equity/(Deficit): | ||
Convertible Preferred Stock | $ 18,950 |
Condensed Balance Sheets (Curr3
Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Discount on short-term notes payable (in Dollars) | $ 0 | $ 194,097 |
Common stock, par value (in Dollars per share) | $ 0.01 | |
Common stock, shares outstanding | 5,203,428 | |
Series A Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, stated value (in Dollars per share) | $ 100 | $ 100 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares outstanding | 0 | 20,550 |
Common stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares outstanding | 5,203,428 | 3,092,766 |
Series B Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in Dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding | 1,895,010 | 0 |
Condensed Statements of Operati
Condensed Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Revenue | $ 85,792 | $ 397,254 | $ 471,078 | $ 785,767 |
Cost of goods sold | 19,773 | 134,726 | 199,307 | 264,174 |
Gross Margin | 66,019 | 262,528 | 271,771 | 521,593 |
General and administrative expense | 861,098 | 737,519 | 1,589,522 | 3,247,024 |
Operations expense | 202,799 | 183,154 | 375,429 | 740,012 |
Sales and marketing expense | 66,720 | 325,141 | 439,703 | 849,364 |
Interest expense | 51,804 | 131,935 | 394,641 | 164,962 |
Gain on valuation of equity-linked financial instruments | (11,599) | |||
Total expense | 1,182,421 | 1,377,749 | 2,799,295 | 4,989,763 |
Net loss available to common shareholders | $ (1,116,402) | $ (1,115,221) | $ (2,527,524) | $ (4,468,170) |
Loss per common share basic and diluted (in Dollars per share) | $ (0.28) | $ (0.37) | $ (0.74) | $ (1.51) |
Weighted average shares used in computation, basic and diluted (in Shares) | 3,936,126 | 2,984,335 | 3,435,700 | 2,967,483 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Note Conversion at $6.68 Per Share [Member]Common Stock [Member] | Note Conversion at $6.68 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $6.68 Per Share [Member] | Note Conversion at $6.68 Per Share 2 [Member]Common Stock [Member] | Note Conversion at $6.68 Per Share 2 [Member]Additional Paid-in Capital [Member] | Note Conversion at $6.68 Per Share 2 [Member] | Note Conversion at $5.85 Per Share [Member]Common Stock [Member] | Note Conversion at $5.85 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $5.85 Per Share [Member] | Note Conversion at $5.03 Per Share [Member]Common Stock [Member] | Note Conversion at $5.03 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $5.03 Per Share [Member] | Note Conversion at $5.14 Per Share [Member]Common Stock [Member] | Note Conversion at $5.14 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $5.14 Per Share [Member] | Note Conversion at $5.00 Per Share [Member]Common Stock [Member] | Note Conversion at $5.00 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $5.00 Per Share [Member] | Note Conversion at $5.26 Per Share [Member]Common Stock [Member] | Note Conversion at $5.26 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $5.26 Per Share [Member] | Note Conversion at $5.26 Per Share 2 [Member]Common Stock [Member] | Note Conversion at $5.26 Per Share 2 [Member]Additional Paid-in Capital [Member] | Note Conversion at $5.26 Per Share 2 [Member] | Note Conversion at $5.95 Per Share [Member]Common Stock [Member] | Note Conversion at $5.95 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $5.95 Per Share [Member] | Note Conversion at $5.05 Per Share [Member]Common Stock [Member] | Note Conversion at $5.05 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $5.05 Per Share [Member] | Note Conversion at $2.90 Per Share [Member]Common Stock [Member] | Note Conversion at $2.90 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.90 Per Share [Member] | Note Conversion at $2.96 Per Share [Member]Common Stock [Member] | Note Conversion at $2.96 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.96 Per Share [Member] | Note Conversion at $2.91 Per Share [Member]Common Stock [Member] | Note Conversion at $2.91 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.91 Per Share [Member] | Note Conversion at $2.77 Per Share [Member]Common Stock [Member] | Note Conversion at $2.77 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.77 Per Share [Member] | Note Conversion at $2.25 Per Share [Member]Common Stock [Member] | Note Conversion at $2.25 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.25 Per Share [Member] | Note Conversion at $2.00 Per Share [Member]Common Stock [Member] | Note Conversion at $2.00 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.00 Per Share [Member] | Note Conversion at $2.27283 Per Share [Member]Common Stock [Member] | Note Conversion at $2.27283 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.27283 Per Share [Member] | Note Conversion at $2.0179 Per Share [Member]Common Stock [Member] | Note Conversion at $2.0179 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.0179 Per Share [Member] | Note Conversion at $2.00 Per Share 2 [Member]Common Stock [Member] | Note Conversion at $2.00 Per Share 2 [Member]Additional Paid-in Capital [Member] | Note Conversion at $2.00 Per Share 2 [Member] | Note Conversion at $1.92417 Per Share [Member]Common Stock [Member] | Note Conversion at $1.92417 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $1.92417 Per Share [Member] | Note Conversion at $1.8578 Per Share [Member]Common Stock [Member] | Note Conversion at $1.8578 Per Share [Member]Additional Paid-in Capital [Member] | Note Conversion at $1.8578 Per Share [Member] | Series A Convertible Preferred Stock [Member]Common Stock [Member]Shares Issued at $19.50 Per Share [Member] | Series A Convertible Preferred Stock [Member]Common Stock [Member]Shares Issued at $19.50 Per Share 2 [Member] | Series A Convertible Preferred Stock [Member]Common Stock [Member]Shares Issued at $19.50 Per Share 3 [Member] | Series A Convertible Preferred Stock [Member]Common Stock [Member]Shares Issued at $19.50 Per Share 4 [Member] | Series A Convertible Preferred Stock [Member]Common Stock [Member]Shares Issued at $9.75 Per Share [Member] | Series A Convertible Preferred Stock [Member]Common Stock [Member]Shares Issued at $9.75 Per Share 2 [Member] | Series A Convertible Preferred Stock [Member]Common Stock [Member]Shares Issued at $9.75 Per Share 3 [Member] | Series A Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]Shares Issued at $19.50 Per Share [Member] | Series A Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]Shares Issued at $19.50 Per Share 2 [Member] | Series A Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]Shares Issued at $19.50 Per Share 3 [Member] | Series A Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]Shares Issued at $19.50 Per Share 4 [Member] | Series A Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]Shares Issued at $9.75 Per Share [Member] | Series A Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]Shares Issued at $9.75 Per Share 2 [Member] | Series A Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]Shares Issued at $9.75 Per Share 3 [Member] | Series A Convertible Preferred Stock [Member]Retained Earnings [Member]Shares Issued at $19.50 Per Share [Member] | Series A Convertible Preferred Stock [Member]Retained Earnings [Member]Shares Issued at $19.50 Per Share 2 [Member] | Series A Convertible Preferred Stock [Member]Retained Earnings [Member]Shares Issued at $19.50 Per Share 3 [Member] | Series A Convertible Preferred Stock [Member]Retained Earnings [Member]Shares Issued at $19.50 Per Share 4 [Member] | Series A Convertible Preferred Stock [Member]Retained Earnings [Member]Shares Issued at $9.75 Per Share 2 [Member] | Series A Convertible Preferred Stock [Member]Retained Earnings [Member]Shares Issued at $9.75 Per Share 3 [Member] | Series A Convertible Preferred Stock [Member]Shares Issued at $19.50 Per Share 4 [Member] | Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 Per Share 2 [Member] | Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 Per Share 3 [Member] | Series A Convertible Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member]Warrant Exercisable at $15.00 Per Share [Member] | Common Stock [Member]Option Exercisable at $1.25 Per Share [Member] | Common Stock [Member]Shares Issued at $20.63 Per Share [Member] | Common Stock [Member]Warrant Exercisable at $12.75 Per Share [Member] | Common Stock [Member]Option Exercisable at $5.25 Per Share [Member] | Common Stock [Member]Warrant Exercisable at $0.75 Per Share [Member] | Common Stock [Member]Warrant Exercisable at $13.50 Per Share [Member] | Common Stock [Member]Shares Issued at $18.75 Per Share [Member] | Common Stock [Member]Warrant Exercisable at $7.50 Per Share [Member] | Common Stock [Member]Warrant Exercisable at $5.63 Per Share [Member] | Common Stock [Member]Warrant Exercisable at $12.75 Per Share 2 [Member] | Common Stock [Member]Warrant Exercisable at $11.25 Per Share [Member] | Common Stock [Member]Shares Issued at $11.25 Per Share [Member] | Common Stock [Member]Shares Issued at $18.75 Per Share 2 [Member] | Common Stock [Member]Warrant Exercisable at $13.50 Per Share 2 [Member] | Common Stock [Member]Warrant Exercisable at $9.75 Per Share [Member] | Common Stock [Member]Warrant Exercisable at $5.63 Per Share 2 [Member] | Common Stock [Member]Option Exercisable at $5.25 Per Share 2 [Member] | Common Stock [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $15.00 Per Share [Member] | Additional Paid-in Capital [Member]Option Exercisable at $1.25 Per Share [Member] | Additional Paid-in Capital [Member]Shares Issued at $20.63 Per Share [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $12.75 Per Share [Member] | Additional Paid-in Capital [Member]Option Exercisable at $5.25 Per Share [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $0.75 Per Share [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $13.50 Per Share [Member] | Additional Paid-in Capital [Member]Shares Issued at $18.75 Per Share [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $7.50 Per Share [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $5.63 Per Share [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $12.75 Per Share 2 [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $11.25 Per Share [Member] | Additional Paid-in Capital [Member]Shares Issued at $11.25 Per Share [Member] | Additional Paid-in Capital [Member]Shares Issued at $18.75 Per Share 2 [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $13.50 Per Share 2 [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $9.75 Per Share [Member] | Additional Paid-in Capital [Member]Warrant Exercisable at $5.63 Per Share 2 [Member] | Additional Paid-in Capital [Member]Option Exercisable at $5.25 Per Share 2 [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Warrant Exercisable at $15.00 Per Share [Member] | Option Exercisable at $1.25 Per Share [Member] | Shares Issued at $20.63 Per Share [Member] | Warrant Exercisable at $12.75 Per Share [Member] | Option Exercisable at $5.25 Per Share [Member] | Warrant Exercisable at $0.75 Per Share [Member] | Warrant Exercisable at $13.50 Per Share [Member] | Shares Issued at $18.75 Per Share [Member] | Warrant Exercisable at $7.50 Per Share [Member] | Warrant Exercisable at $5.63 Per Share [Member] | Warrant Exercisable at $12.75 Per Share 2 [Member] | Warrant Exercisable at $11.25 Per Share [Member] | Shares Issued at $11.25 Per Share [Member] | Shares Issued at $18.75 Per Share 2 [Member] | Warrant Exercisable at $13.50 Per Share 2 [Member] | Warrant Exercisable at $9.75 Per Share [Member] | Warrant Exercisable at $5.63 Per Share 2 [Member] | Option Exercisable at $5.25 Per Share 2 [Member] | Total |
Balance at Dec. 31, 2013 | $ 0 | $ 29,325 | $ 25,449,636 | $ (28,697,415) | $ (3,218,454) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in Shares) at Dec. 31, 2013 | 2,932,501 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for warrant exercise | $ 17 | $ 33 | $ 22 | $ 27 | $ 48 | $ 31 | $ 3 | $ 78 | $ 37 | $ 14 | $ 111 | $ 1,279 | $ 2,460 | $ 1,608 | $ 35,973 | $ 3,557 | $ 2,302 | $ 221 | $ 52,422 | $ 2,757 | $ 1,044 | $ 62,389 | $ 1,296 | $ 2,493 | $ 1,630 | $ 36,000 | $ 3,605 | $ 2,333 | $ 224 | $ 52,500 | $ 2,794 | $ 1,058 | $ 62,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for warrant exercise (in Shares) | 1,728 | 3,323 | 2,174 | 2,667 | 4,807 | 3,112 | 299 | 7,778 | 3,725 | 1,410 | 11,111 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued | 206 | 2,054,795 | 2,055,001 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares | $ 10 | $ 16 | $ 16 | $ 16 | $ 18,909 | $ 30,384 | $ 30,385 | $ 30,385 | $ (18,919) | $ (30,400) | $ (30,401) | $ (30,402) | $ (1) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares (in Shares) | 972 | 1,561 | 1,561 | 1,561 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares adjusted for rounding per reverse stock split | $ 1 | 1 | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares adjusted for rounding per reverse stock split (in Shares) | 106 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (6,833,568) | (6,833,568) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of equity instruments issued with debt | 313,175 | 313,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 705,434 | 705,434 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options issued as part of employee bonus | 694,500 | 694,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for option exercise | $ 43 | $ 3 | $ 3 | $ 5,387 | $ 1,397 | $ 1,747 | $ 5,430 | $ 1,400 | $ 1,750 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for option exercise (in Shares) | 4,336 | 267 | 333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion | $ 30 | $ 19,970 | $ 20,000 | $ 30 | $ 19,970 | $ 20,000 | $ 34 | $ 19,966 | $ 20,000 | $ 38 | $ 19,962 | $ 20,000 | $ 39 | $ 19,961 | $ 20,000 | $ 40 | $ 19,960 | $ 20,000 | $ 38 | $ 19,962 | $ 20,000 | $ 57 | $ 29,943 | $ 30,000 | $ 50 | $ 29,950 | $ 30,000 | $ 556 | $ 280,060 | $ 280,616 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion (in Shares) | 3,018 | 3,019 | 3,435 | 3,894 | 3,894 | 3,997 | 3,804 | 5,706 | 5,044 | 55,568 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued into an escrow account per settlement agreement | $ 137 | 137 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued into an escrow account per settlement agreement (in Shares) | 13,700 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued as Investor Relations compensation | $ 20 | $ 13 | $ 21 | $ 13 | $ 41,230 | $ 24,987 | $ 23,979 | $ 24,987 | $ 41,250 | $ 25,000 | $ 24,000 | $ 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued as Investor Relations compensation (in Shares) | 2,000 | 1,333 | 2,133 | 1,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in escrow account per settlement agreement | $ (44) | (3,289) | (3,333) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in escrow account per settlement agreement (in Shares) | (4,444) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2014 | $ (5,516,227) | 206 | $ 30,927 | 30,093,745 | (35,641,105) | (5,516,227) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in Shares) at Dec. 31, 2014 | 3,092,766 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued | 16,667 | $ 16,667 | 13,027,546 | 13,060,880 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in Shares) | 1,666,667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock conversion | 2,077 | $ 2,283 | (4,360) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred stock conversion (in Shares) | 228,343 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares | $ 31 | $ 31 | $ 31 | $ (31) | $ 30,369 | $ 30,371 | $ (30,401) | $ (30,401) | $ (1) | $ 1 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares (in Shares) | 3,122 | 3,121 | 3,121 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (2,527,524) | (2,527,524) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 320,334 | 320,334 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion | $ 34 | $ 9,966 | $ 10,000 | $ 68 | $ 19,932 | $ 20,000 | $ 103 | $ 29,897 | $ 30,000 | $ 120 | $ 33,358 | $ 33,478 | $ 156 | $ 34,844 | $ 35,000 | $ 200 | $ 39,800 | $ 40,000 | $ 880 | $ 199,120 | $ 200,000 | $ 149 | $ 29,851 | $ 30,000 | $ 150 | $ 29,850 | $ 30,000 | $ 130 | $ 24,870 | $ 25,000 | $ 162 | $ 29,838 | $ 30,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion (in Shares) | 3,447 | 6,762 | 10,313 | 12,098 | 15,552 | 20,000 | 87,997 | 14,867 | 15,000 | 12,993 | 16,148 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in escrow account per settlement agreement | $ (89) | (6,578) | (6,667) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in escrow account per settlement agreement (in Shares) | (8,889) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Sep. 30, 2015 | $ 5,814,274 | $ 18,950 | $ 52,033 | $ 43,972,722 | $ (38,229,431) | $ 5,814,274 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in Shares) at Sep. 30, 2015 | 5,203,428 |
Statement of Stockholders' Equ6
Statement of Stockholders' Equity (Deficit) (Unaudited) (Parentheticals) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015$ / shares | Dec. 31, 2014$ / shares | |
Common Stock [Member] | Warrant Exercisable at $15.00 Per Share [Member] | ||
Warrant exercise price | $ 15 | |
Common Stock [Member] | Option Exercisable at $1.25 Per Share [Member] | ||
Option exercise price | 1.25 | |
Common Stock [Member] | Shares Issued at $20.63 Per Share [Member] | ||
Investor Relations compensation | 20.63 | |
Common Stock [Member] | Warrant Exercisable at $12.75 Per Share [Member] | ||
Warrant exercise price | 12.75 | |
Common Stock [Member] | Option Exercisable at $5.25 Per Share [Member] | ||
Option exercise price | 5.25 | |
Common Stock [Member] | Warrant Exercisable at $0.75 Per Share [Member] | ||
Warrant exercise price | 0.75 | |
Common Stock [Member] | Warrant Exercisable at $13.50 Per Share [Member] | ||
Warrant exercise price | 13.50 | |
Common Stock [Member] | Shares Issued at $18.75 Per Share [Member] | ||
Investor Relations compensation | 18.75 | |
Common Stock [Member] | Warrant Exercisable at $7.50 Per Share [Member] | ||
Warrant exercise price | 7.50 | |
Common Stock [Member] | Warrant Exercisable at $5.63 Per Share [Member] | ||
Warrant exercise price | 5.63 | |
Common Stock [Member] | Warrant Exercisable at $12.75 Per Share 2 [Member] | ||
Warrant exercise price | 12.75 | |
Common Stock [Member] | Warrant Exercisable at $11.25 Per Share [Member] | ||
Warrant exercise price | 11.25 | |
Common Stock [Member] | Shares Issued at $11.25 Per Share [Member] | ||
Investor Relations compensation | 11.25 | |
Common Stock [Member] | Shares Issued at $18.75 Per Share 2 [Member] | ||
Investor Relations compensation | 18.75 | |
Common Stock [Member] | Warrant Exercisable at $13.50 Per Share 2 [Member] | ||
Warrant exercise price | 13.50 | |
Common Stock [Member] | Warrant Exercisable at $9.75 Per Share [Member] | ||
Warrant exercise price | 9.75 | |
Common Stock [Member] | Warrant Exercisable at $5.63 Per Share 2 [Member] | ||
Warrant exercise price | 5.63 | |
Common Stock [Member] | Option Exercisable at $5.25 Per Share 2 [Member] | ||
Option exercise price | $ 5.25 | |
Series A Convertible Preferred Stock [Member] | Shares Issued at $19.50 Per Share [Member] | ||
Number of shareholders | 16 | |
Series A Convertible Preferred Stock [Member] | Shares Issued at $19.50 Per Share 2 [Member] | ||
Number of shareholders | 16 | |
Series A Convertible Preferred Stock [Member] | Shares Issued at $19.50 Per Share 3 [Member] | ||
Number of shareholders | 16 | |
Series A Convertible Preferred Stock [Member] | Shares Issued at $19.50 Per Share 4 [Member] | ||
Number of shareholders | 16 | |
Series A Convertible Preferred Stock [Member] | Shares Issued at $9.75 Per Share [Member] | ||
Number of shareholders | 16 | |
Series A Convertible Preferred Stock [Member] | Shares Issued at $9.75 Per Share 2 [Member] | ||
Number of shareholders | 16 | |
Series A Convertible Preferred Stock [Member] | Shares Issued at $9.75 Per Share 3 [Member] | ||
Number of shareholders | 16 | |
Series A Convertible Preferred Stock [Member] | Common Stock [Member] | Shares Issued at $19.50 Per Share [Member] | ||
Series A Convertible Preferred Stock Dividends | $ 19.50 | |
Series A Convertible Preferred Stock [Member] | Common Stock [Member] | Shares Issued at $19.50 Per Share 2 [Member] | ||
Series A Convertible Preferred Stock Dividends | 19.50 | |
Series A Convertible Preferred Stock [Member] | Common Stock [Member] | Shares Issued at $19.50 Per Share 3 [Member] | ||
Series A Convertible Preferred Stock Dividends | 19.50 | |
Series A Convertible Preferred Stock [Member] | Common Stock [Member] | Shares Issued at $19.50 Per Share 4 [Member] | ||
Series A Convertible Preferred Stock Dividends | 19.50 | |
Series A Convertible Preferred Stock [Member] | Common Stock [Member] | Shares Issued at $9.75 Per Share [Member] | ||
Series A Convertible Preferred Stock Dividends | $ 9.75 | |
Series A Convertible Preferred Stock [Member] | Common Stock [Member] | Shares Issued at $9.75 Per Share 2 [Member] | ||
Series A Convertible Preferred Stock Dividends | 9.75 | |
Series A Convertible Preferred Stock [Member] | Common Stock [Member] | Shares Issued at $9.75 Per Share 3 [Member] | ||
Series A Convertible Preferred Stock Dividends | 9.75 | |
Note Conversion at $6.68 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 6.68 | |
Note Conversion at $6.68 Per Share 2 [Member] | Common Stock [Member] | ||
Note conversion price | 6.68 | |
Note Conversion at $5.85 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 5.85 | |
Note Conversion at $5.03 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 5.03 | |
Note Conversion at $5.14 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 5.14 | |
Note Conversion at $5.00 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 5 | |
Note Conversion at $5.26 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 5.26 | |
Note Conversion at $5.26 Per Share 2 [Member] | Common Stock [Member] | ||
Note conversion price | 5.26 | |
Note Conversion at $5.95 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 5.95 | |
Note Conversion at $5.05 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | $ 5.05 | |
Note Conversion at $2.90 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 2.90 | |
Note Conversion at $2.96 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 2.96 | |
Note Conversion at $2.91 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 2.91 | |
Note Conversion at $2.77 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 2.77 | |
Note Conversion at $2.25 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 2.25 | |
Note Conversion at $2.00 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 2 | |
Note Conversion at $2.27283 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 2.27283 | |
Note Conversion at $2.0179 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 2.0179 | |
Note Conversion at $2.00 Per Share 2 [Member] | Common Stock [Member] | ||
Note conversion price | 2 | |
Note Conversion at $1.92417 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | 1.92417 | |
Note Conversion at $1.8578 Per Share [Member] | Common Stock [Member] | ||
Note conversion price | $ 1.8578 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Cash flow from operating activities: | |||||
Net loss | $ (1,116,402) | $ (1,115,221) | $ (2,527,524) | $ (4,468,170) | $ (6,833,568) |
Adjustments to reconcile net loss to net cash used in operating activities: | |||||
Depreciation and amortization | 57,512 | 44,118 | |||
Vested stock options and warrants | 320,334 | 440,117 | |||
Equity instruments issued for management and consulting | (6,667) | 111,917 | |||
Amortization of debt discount | 219,097 | 87,853 | |||
Penalty on debt provision | 10,031 | ||||
Loss on Sales of Equipment | 16,917 | ||||
(Gain) loss on valuation of equity-linked instruments | (11,599) | ||||
Changes in assets and liabilities: | |||||
Accounts receivable | 43,353 | (141,359) | |||
Inventories | 130,477 | (193,445) | |||
Prepaid expense and other assets | (23,208) | (88,362) | |||
Accounts payable | (1,056,006) | 515,710 | |||
Accrued expenses | (1,845,850) | 624,530 | |||
Deferred Revenue | 24,180 | (64,000) | |||
Net cash used in operating activities: | (4,637,354) | (3,142,690) | |||
Cash flow from investing activities: | |||||
Purchase of fixed assets | (102,954) | ||||
Purchase of intangibles | (23,739) | (19,346) | |||
Net cash used in investing activities | (23,739) | (122,300) | |||
Cash flow from financing activities: | |||||
Proceeds from long-term and convertible debt | 250,000 | 1,500,000 | |||
Principal payments on debt | (933,074) | (305,000) | |||
Net proceeds from issuance of preferred stock | 18,950 | 2,055,000 | |||
Net proceeds from issuance of common stock | 13,041,930 | 157,081 | |||
Net cash provided by financing activities | 12,377,806 | 3,407,081 | |||
Net increase in cash | 7,716,713 | 142,091 | |||
Cash at beginning of period | 16,384 | 101,953 | 101,953 | ||
Cash at end of period | $ 7,733,097 | $ 244,044 | 7,733,097 | 244,044 | $ 16,384 |
Non cash transactions: | |||||
Common stock issued for accrued interest/bonus | 694,500 | ||||
Common stock issued to satisfy debt | $ 483,478 | $ 80,000 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Continuance of Operations Skyline Medical Inc. (the "Company") was incorporated under the laws of the State of Minnesota in 2002. Effective August 6, 2013, the Company changed its name to Skyline Medical Inc. As of September 30, 2015, the registrant had 5,203,428 shares of common stock, par value $.01 per share, outstanding. Pursuant to an Agreement and Plan of Merger dated effective December 16, 2013, the Company merged with and into a Delaware corporation with the same name that was its wholly-owned subsidiary, with such Delaware Corporation as the surviving corporation of the merger. The Company has developed an environmentally safe system for the collection and disposal of infectious fluids that result from surgical procedures and post-operative care. The Company also makes ongoing sales of our proprietary cleaning fluid and filters to users of our systems. In April 2009, the Company received 510(k) clearance from the FDA to authorize the Company to market and sell its STREAMWAY FMS products. The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has suffered recurring losses from operations and had a stockholders’ deficit until August 31, 2015 whereupon the Company closed its public offering of units of common stock, Series B Convertible Preferred Stock and Series A Warrants (the “Units”). There remains though, substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Since inception to September 30, 2015, the Company raised approximately $22,723,061 in equity, inclusive of $2,055,000 from a private placement of Series A Convertible Preferred Stock, $13,555,003 from the public offering of Units and $5,685,000 in debt financing. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources.” Recent Accounting Developments In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-12, "Compensation - Stock Compensation" We reviewed all other significant newly issued accounting pronouncements and determined they are either not applicable to our business or that no material effect is expected on our financial position and results of our operations. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs In July 2015, the FASB issued ASU No. 2015-11 , Inventory (Topic 330): Simplifying the Measurement of Inventory Valuation of Intangible Assets We review identifiable intangible assets for impairment in accordance with ASC 350 — Intangibles —Goodwill and Other, whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Our intangible assets are currently solely the costs of obtaining trademarks and patents. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which we operate. If such events or changes in circumstances are present, the undiscounted cash flows method is used to determine whether the intangible asset is impaired. Cash flows would include the estimated terminal value of the asset and exclude any interest charges. If the carrying value of the asset exceeds the undiscounted cash flows over the estimated remaining life of the asset, the asset is considered impaired, and the impairment is measured by reducing the carrying value of the asset to its fair value using the discounted cash flows method. The discount rate utilized is based on management’s best estimate of the related risks and return at the time the impairment assessment is made. Accounting Policies and Estimates The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Presentation of Taxes Collected from Customers Sales taxes are imposed on the Company’s sales to nonexempt customers. The Company collects the taxes from customers and remits the entire amounts to the governmental authorities. The Company’s accounting policy is to exclude the taxes collected and remitted from revenues and expenses. Shipping and Handling Shipping and handling charges billed to customers are recorded as revenue. Shipping and handling costs are recorded within cost of goods sold on the statement of operations. Advertising Advertising costs are expensed as incurred. Advertising expenses were $500 and $1,917 in the three and nine months ended September 30, 2015 and were $4,201 and $11,994 in the three and nine months ended September 30, 2014. Research and Development Research and development costs are charged to operations as incurred. Research and development expenses were $58,792 and $179,739 in the three and nine months ended September 30, 2015 and were $72,294 and $321,929 in the three and nine months ended September 30, 2014. Revenue Recognition The Company recognizes revenue in accordance with the SEC’s Staff Accounting Bulletin Topic 13 Revenue Recognition and ASC 605-Revenue Recognition. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable and collectability is probable. Delivery is considered to have occurred upon either shipment of the product or arrival at its destination based on the shipping terms of the transaction. The Company’s standard terms specify that shipment is FOB Skyline and the Company will, therefore, recognize revenue upon shipment in most cases. This revenue recognition policy applies to shipments of the STREAMWAY FMS units as well as shipments of cleaning solution kits. When these conditions are satisfied, the Company recognizes gross product revenue, which is the price it charges generally to its customers for a particular product. Under the Company’s standard terms and conditions, there is no provision for installation or acceptance of the product to take place prior to the obligation of the customer. The customer’s right of return is limited only to the Company’s standard one-year warranty whereby the Company replaces or repairs, at its option, and it would be rare that the STREAMWAY FMS unit or significant quantities of cleaning solution kits may be returned. Additionally, since the Company buys both the STREAMWAY FMS units and cleaning solution kits from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management’s assessment of the current status of individual accounts, changes to the valuation allowance have not been material to the financial statements. Inventories Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: September 30, December 31, Finished goods $ 46,208 $ 88,362 Raw materials 182,994 237,556 Work-In-Process 7,688 41,449 Total $ 236,890 $ 367,367 Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing tooling 3 - 7 Demo Equipment 3 The Company’s investment in Fixed Assets consists of the following: September 30, December 31, Computers and office equipment $ 121,901 $ 123,708 Leasehold improvements 23,874 23,874 Manufacturing tooling 97,288 97,288 Demo Equipment 8,962 30,576 Total 252,025 275,446 Less: Accumulated depreciation 125,455 78,967 Total Fixed Assets, Net $ 126,570 $ 196,479 Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations as incurred. Intangible Assets Intangible assets consist of trademarks and patent costs. Amortization expense was $1,632 and $4,520 in the three and nine months ended September 30, 2015, and was $0 in the three and nine months ended September 30, 2014. The assets are reviewed for impairment annually, and impairment losses, if any, are charged to operations when identified. Income Taxes The Company accounts for income taxes in accordance with ASC 740- Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to impact taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified no income tax uncertainties. Tax years subsequent to 2011 remain open to examination by federal and state tax authorities. Patents and Intellectual Property On January 25th, 2014 the Company filed a non-provisional PCT Application No. PCT/US2014/013081 claiming priority from the U.S. Provisional Patent Application, number 61756763 which was filed one year earlier on January 25th, 2013. The Patent Cooperation Treaty (“PCT”) allows an applicant to file a single patent application to seek patent protection for an invention simultaneously in each of the 148 countries of the PCT, including the United States. By filing this single “international” patent application through the PCT, it is easier and more cost effective than filing separate applications directly with each national or regional patent office in which patent protection is desired. Our PCT patent application is for the new model of the surgical fluid waste management system. We obtained a favorable International Search Report from the PCT searching authority indicating that the claims in our PCT application are patentable (i.e., novel and non-obvious) over the cited prior art. A feature claimed in the PCT application is the ability to maintain continuous suction to the surgical field while measuring, recording and evacuating fluid to the facilities sewer drainage system. This provides for continuous operation of the STREAMWAY System unit in suctioning waste fluids, which means that suction is not interrupted during a surgical operation, for example, to empty a fluid collection container or otherwise dispose of the collected fluid. The Company holds the following granted patents in the United States and a pending application in the United States on its earlier models: US7469727, US8123731 and U.S. Publication No. US20090216205 (collectively, the “Patents”). These Patents will begin to expire on August 8, 2023. In July 2015, Skyline Medical filed an international (PCT) patent application for its fluid waste collection system and received a favorable determination by the International Searching Authority finding that all of the claims satisfy the requirements for novelty, inventive step and industrial applicability. Skyline anticipates that the favorable International Search Report will result in allowance of its various national applications. Subsequent Events In preparing these financial statements the Company evaluated for recognition or disclosure the events or transactions that occurred through November 13, 2015, the date of this filing. Except as discussed in Note 11 there were no subsequent events that required recognition or disclosure in the financial statements. Interim Financial Statements The Company has prepared the unaudited interim financial statements and related unaudited financial information in the footnotes in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. These interim financial statements reflect all adjustments consisting of normal recurring accruals, which, in the opinion of management, are necessary to present fairly the Company’s financial position, the results of its operations and its cash flows for the interim periods. These interim financial statements should be read in conjunction with the annual financial statements and the notes thereto contained in the Form 10-K filed with the SEC on April 30, 2015. The nature of the Company’s business is such that the results of any interim period may not be indicative of the results to be expected for the entire year. |
Note 2 _ Development Stage Oper
Note 2 – Development Stage Operations | 9 Months Ended |
Sep. 30, 2015 | |
Development Stage Enterprise Disclosures [Abstract] | |
Development Stage Enterprise Disclosures [Text Block] | NOTE 2 – DEVELOPMENT STAGE OPERATIONS The Company was formed April 23, 2002. Since inception to September 30, 2015, 5,203,428 shares of common stock have been issued between par value and $125.25. Operations since incorporation have been devoted to raising capital, obtaining financing, development of the Company’s product, and administrative services, customer acceptance and sales and marketing strategies. |
Note 3 _ Stockholders_ Deficit,
Note 3 – Stockholders’ Deficit, Stock Options and Warrants | 9 Months Ended |
Sep. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 3 – STOCKHOLDERS’ DEFICIT, STOCK OPTIONS AND WARRANTS The Company has an equity incentive plan, which allows issuance of incentive and non-qualified stock options to employees, directors and consultants of the Company, where permitted under the plan. The exercise price for each stock option is determined by the Board of Directors. Vesting requirements are determined by the Board of Directors when granted and currently range from immediate to three years. Options under this plan have terms ranging from three to ten years. On August 25, 2015, the Company, in connection with a public offering (the “Offering”) of the Units, entered into an underwriting agreement (the “Underwriting Agreement”) with Dawson James Securities, Inc., as underwriter (the “Underwriter”). Pursuant to the Underwriting Agreement, the Company agreed to sell 1,666,667 Units. The public offering price for the Units was $9.00 per Unit and the purchase price for the Underwriter under the Underwriting Agreement was $8.28 per Unit, resulting in an underwriting discount and commission of $0.72 (or 8.00%) per Unit and total net proceeds to the Company before expenses of $13.8 million. The Company had granted the Underwriter an option for a period of 45 days to purchase up to an additional 250,000 Units solely to cover over-allotments. The Underwriter chose not to purchase any additional Units under the over-allotment option. Pursuant to the Underwriting Agreement, the Company agreed to issue to the Underwriter a unit purchase option (the “Unit Purchase Option”) more fully described below. The Company had also agreed to pay the Underwriter a non-accountable expense allowance equal to 1% of the gross proceeds of the Offering (excluding any proceeds from the over-allotment option, if any), as well as to reimburse expenses incurred by the Underwriter up to $70,000. Pursuant to the Underwriting Agreement, the Company agreed to indemnify the Underwriter against certain liabilities, including liabilities under the Securities Act, and liabilities arising from breaches of representations and warranties contained in the Underwriting Agreement, or to contribute to payments that the Underwriter may be required to make in respect of those liabilities. The Underwriting Agreement also contains representations, warranties, conditions precedent to closing and other provisions customary for transactions of this nature. Unit Agreement The Units were issued pursuant to a Unit Agreement, dated August 31, 2015, between the Company and Corporate Stock Transfer, Inc. (the “Unit Agreement”). Each Unit consists of one share of common stock, par value $0.01 per share (the “Common Stock”), one share of Series B Convertible Preferred Stock and four Series A Warrants. The shares of Common Stock, the shares of Series B Convertible Preferred Stock and the Series A Warrants that comprise the Units will automatically separate on February 29, 2016, which is the six month anniversary of August 31, 2015 (the “Issuance Date”). However, the shares of Common Stock, the shares of Series B Convertible Preferred Stock and the Series A Warrants will separate prior to the expiration of such six-month anniversary if at any time after September 30, 2015, either (i) the closing price of the Company’s common stock on the NASDAQ Capital Market is greater than 200% of the Series A Warrants exercise price for a period of 20 consecutive trading days (the “Trading Separation Trigger”), (ii) all Series A Warrants in a given Unit are exercised for cash (solely with respect to the Units that include the exercised Series A Warrants) (a “Warrant Cash Exercise Trigger”) or (iii) the Units are delisted (the “Delisting Trigger”) from the NASDAQ Capital Market for any reason (any such event, a “Separation Trigger Event”). Upon the occurrence of a Separation Trigger Event, the Units will separate: (i) 15 days after the date of the Trading Separation Trigger, (ii) on the date of any Warrant Cash Exercise Trigger (solely with respect to the Units that include the exercised Series A Warrants) or (iii) the date of the Delisting Trigger, as the case may be. This separation of the Units prior to February 29, 2016 is referred to herein as an “Early Separation.” For a description of the terms of the Series B Convertible Preferred Stock included within the Units, see “Certificate of Designation for Series B Preferred Stock” below. For a description of the terms of the Series A Warrants included within the Units, see “Series A Warrants” below. Warrant Agreement / Series A Warrants The Series A Warrants are issued pursuant to the Warrant Agency Agreement, dated as of August 31, 2015 between the Company and Corporate Stock Transfer, Inc. (the “Warrant Agreement”). The Series A Warrants are exercisable upon the separation of the Units, provided that all Series A Warrants in a given Unit may be exercised for cash at any time commencing 30 days after the Issuance Date. The Series A Warrants will terminate on the fifth anniversary of the Issuance Date. Each Series A Warrant is exercisable into one share of our common stock at an initial cash exercise price of $4.95 per share. The exercise price and number of shares of common stock issuable upon exercise is subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events affecting the Common Stock and the exercise price. Holders may exercise Series A Warrants by paying the exercise price in cash or, in lieu of payment of the exercise price in cash, by electing to receive a number of shares of Common Stock equal to the Black Scholes Value (as defined below) based upon the number of shares the holder elects to exercise. The number of shares of Common Stock to be delivered will be determined according to the following formula, referred to as the “Cashless Exercise.” Total Shares = (A x B) / C Where: · Total Shares is the number of shares of Common Stock to be issued upon a Cashless Exercise. · A is the total number of shares with respect to which the Series A Warrant is then being exercised. · B is the Black Scholes Value (as defined below). · C is the closing bid price of the Common Stock as of two trading days prior to the time of such exercise, provided that in no event may “C” be less than $0.43 per share (subject to appropriate adjustment in the event of stock dividends, stock splits or similar events affecting the Common Stock). As defined in the Series A Warrants, “Black Scholes Value” means the Black Scholes value of an option for one share of Common Stock at the date of the applicable Cashless Exercise, as such Black Scholes Value is determined, calculated using the Black Scholes Option Pricing Model obtained from the “OV” function on Bloomberg utilizing (i) an underlying price per share equal to 55% of the Unit price, or $4.95 per share, (ii) a risk-free interest rate corresponding to the U.S. Treasury rate for a period equal to the remaining term of the Series A Warrant as of the applicable Cashless Exercise, (iii) a strike price equal to the exercise price in effect at the time of the applicable Cashless Exercise, (iv) an expected volatility equal to 135% and (v) a remaining term of such option equal to five years (regardless of the actual remaining term of the Series A Warrant). The Cashless Exercise feature of the Series A Warrants provides for the issuance of a number of shares of Common Stock that increases as the trading market price of the Common Stock decreases, subject to a floor price of $0.43. If all of the 7,580,040 Series A Warrants that were issued as part of the Units sold in the Offering and part of the Exchange Units issued on August 31, 2015, as described below, were exercised pursuant to a Cashless Exercise and the closing bid price of the Common Stock as of the two trading days prior to the time of such exercise was $0.43 per share or less and the Black Scholes Value was $4.326 (the Black Scholes Value as of August 28, 2015), then a total of approximately 76.3 million shares of Common Stock would be issued to the holders of such Series A Warrants. The potential for such dilutive exercise of the Series A Warrants may depress the price of Common Stock regardless of the Company’s business performance, and could encourage short selling by market participants, especially if the trading price of the Common Stock begins to decrease. The Series A Warrants will not be exercisable or exchangeable by the holder of such warrants to the extent (and only to the extent) that the holder or any of its affiliates would beneficially own in excess of 4.99% of the common stock of the Company, determined in accordance with Section 13(d) of the Securities Exchange Act of 1934, as amended, and the regulations promulgated thereunder. In addition to (but not duplicative of) the adjustments to the exercise price and the number of shares of Common Stock issuable upon exercise of the Series A Warrants in the event of stock dividends, stock splits, reorganizations or similar events, if the Company, at any time prior to the three year anniversary of the Issuance Date: (i) declares or makes any dividend or other distribution of its assets (or rights to acquire its assets) to all or substantially all of the holders of shares of Common Stock (a “Distribution”), at any time after the Issuance Date, then, in each such case, the holders of the Series A Warrants will be entitled to participate in such Distribution to the same extent that the holders would have participated therein if the holder had held the number of shares of Common Stock acquirable upon complete exercise of the Series A Warrants by either paying the exercise price for such shares of Common Stock in cash in full or by exercising the Series A Warrants in full pursuant to a Cashless Exercise, whichever results in the lesser number of shares of Common Stock issued, as of the date immediately preceding the date on which a record is taken for such Distribution, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the participation in such Distribution; or (ii) grants, issues or sells any options, convertible securities or rights to purchase stock, warrants, securities or other property pro rata to all or substantially all of the record holders of any class of shares of Common Stock (the “Purchase Rights”), then the holders of Series A Warrants will be entitled to acquire, upon the terms applicable to such Purchase Rights, the aggregate Purchase Rights which the holder could have acquired if the holder had held the number of shares of Common Stock acquirable upon complete exercise of the Series A Warrant by either paying the exercise price for such shares of Common Stock in cash in full or by exercising the Series A Warrant in full pursuant to a Cashless Exercise, whichever results in the lesser number of shares of Common Stock issued, as of the date immediately preceding the date on which a record is taken for the grant, issuance or sale of such Purchase Rights, or, if no such record is taken, the date as of which the record holders of shares of Common Stock are to be determined for the grant, issue or sale of such Purchase Rights. If, at any time a Series A Warrant is outstanding, the Company consummates any fundamental transaction, as described in the Series A Warrants and generally including any consolidation or merger into another corporation, or the sale of all or substantially all of our assets, or other transaction in which the Common Stock is converted into or exchanged for other securities or other consideration, the holder of any Series A Warrants will thereafter receive, the securities or other consideration to which a holder of the number of shares of Common Stock then deliverable upon the exercise or exchange of such Series A Warrants would have been entitled upon such consolidation or merger or other transaction. Unit Purchase Option Pursuant to the Underwriting Agreement, the Company, in connection with the Offering, entered into a Unit Purchase Option Agreement, dated as of August 31, 2015 (the “Unit Purchase Option”), pursuant to which the Company granted the Underwriter the right to purchase from the Company up to a number of Units equal to 5% of the Units sold in the Offering (or up to 83,333 Units) at an exercise price equal to 125% of the public offering price of the Units in the Offering, or $11.25 per Unit. The Unit Purchase Option shall expire on August 25, 2018. Unit Exchange On February 4, 2014, the Company raised $2,055,000 in gross proceeds from a private placement of 20,550 shares of Series A Convertible Preferred Stock, par value $0.01, with a stated value of $100 per share (the “Series A Preferred Shares”) and warrants to purchase shares of the Company’s common stock. The Series A Preferred Shares and warrants were sold to investors pursuant to a Securities Purchase Agreement, dated as of February 4, 2014. In connection with the Offering, the holders of the Series A Preferred Shares agreed to exchange all of the outstanding Series A Preferred Shares for units with the same terms as the Units (the “Exchange Units”) such that for every dollar of stated value of Series A Preferred Shares tendered the holders would receive an equivalent value of Exchange Units based on the public offering price of the Units in this offering (the “Unit Exchange”). The warrants that were issued in connection with the issuance of the Series A Preferred Shares would remain outstanding; however, the warrant amounts would be reduced so that the warrants will be exercisable into an aggregate of 84,770 shares of the Company’s common stock. The Exchange Units were exempt from registration under the Securities Act pursuant to Section m3(a)(9) thereof. On August 31, 2015, the Company consummated the Unit Exchange whereby the Company issued a total of 228,343 Units (the “Exchange Units”) in exchange for the outstanding Series A Convertible Preferred Stock which were then cancelled. The Exchange Units were exempt from registration under the Securities Act pursuant to Section 3(a)(9) thereof. Certificate of Designation for the Series B Convertible Preferred Stock On August 28, 2015, the Company filed the Certificate of Designation of Preferences, Rights and Limitations of Series B Convertible Preferred Stock (the “Certificate of Designation”) with the Delaware Secretary of State. The Certificate of Designation creates the Series B Convertible Preferred Stock and fixes the rights, preferences, powers, restrictions and limitations of the Series B Convertible Preferred Stock. The Series B Convertible Preferred Stock is a component of the Units being offered pursuant to the Offering, Units that could be issued upon exercise by the Underwriter of the Unit Purchase Option described in Item 1.01 above and also part of the Exchange Units described in Item 3.02 above. Each share of Series B Convertible Preferred Stock is convertible into one share of Common Stock (subject to appropriate adjustment in the event of stock dividends, stock splits, reorganizations or similar events) on the six month anniversary of the Issuance Date or on the date of an Early Separation. In addition, the Series B Convertible Preferred Stock will automatically convert into shares of common stock upon the occurrence of a Fundamental Transaction, subject to the beneficial ownership limitation discussed below. A “Fundamental Transaction” means that (i) the Company shall, directly or indirectly, in one or more related transactions, (1) consolidate or merge with or into (whether or not the Company is the surviving corporation) any other person unless the shareholders of the Company immediately prior to such consolidation or merger continue to hold more than 50% of the outstanding shares of voting stock after such consolidation or merger, or (2) sell, lease, license, assign, transfer, convey or otherwise dispose of all or substantially all of the properties and assets of the Company and its subsidiaries, taken as a whole, to any other person, or (3) allow any other person to make a purchase, tender or exchange offer that is accepted by the holders of more than 50% of the outstanding shares of voting stock of the Company (not including any shares of voting stock of the Company held by the person or persons making or party to, or associated or affiliated with the persons making or party to, such purchase, tender or exchange offer), or (4) consummate a stock or share purchase agreement or other business combination (including, without limitation, a reorganization, recapitalization, spin-off or scheme of arrangement) with any other person whereby such other person acquires more than 50% of the outstanding shares of voting stock of the Company (not including any shares of voting stock of the Company held by the other person or other persons making or party to, or associated or affiliated with the other persons making or party to, such stock or share purchase agreement or other business combination), or (ii) any “person” or “group” (as these terms are used for purposes of Sections 13(d) and 14(d) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and the rules and regulations promulgated thereunder), other than a Permitted Holder, is or shall become the “beneficial owner” (as defined in Rule 13d-3 under the Exchange Act), directly or indirectly, of 50% of the aggregate ordinary voting power represented by issued and outstanding voting stock of the Company. The term Permitted Holders means Josh Kornberg, Atlantic Partners Alliance and SOK Partners, LLC and each of their respective affiliates. The Series B Convertible Preferred Stock will not be convertible by the holder of such preferred stock to the extent (and only to the extent) that the holder or any of its affiliates would beneficially own in excess of 4.99% of the common stock of the Company. For purposes of the limitation described in this paragraph, beneficial ownership and all determinations and calculations are determined in accordance with Section 13(d) of the Exchange Act and the rules and regulations promulgated thereunder. The Series B Convertible Preferred Stock has no voting rights, except that the holders of shares of a majority of the Series B Convertible Preferred Stock will be required to effect or validate any amendment, alteration or repeal of any of the provisions of the Certificate of Designation that materially adversely affects the powers, preferences or special rights of the Series B Convertible Preferred Stock, whether by merger or consolidation or otherwise, subject to certain exceptions set forth in the Certificate of Designations. With respect to payment of dividends and distribution of assets upon liquidation or dissolution or winding up of the Company, the Series B Convertible Preferred Stock shall rank equal to the common stock of the Company. No sinking fund has been established for the retirement or redemption of the Series B Convertible Preferred Stock. Cancellation of the Company’s Series A Preferred Stock On August 31, 2015, the Company filed the Termination Certificate for Series A Convertible Preferred Stock (the “Termination Certificate”) with the Delaware Secretary of State. After the cancellation of the Series A Convertible Preferred Stock pursuant to the Unit Exchange described in Item 3.02 above, there were no shares of Series A Convertible Preferred Stock outstanding. The Termination Certificate removed the Series A Convertible Preferred Stock from the Company’s authorized share capital, rendered the Certificate of Designation of Preferences, Rights and Limitations of Series A Convertible Preferred Stock (the “Series A Certificate of Designation”) null and void and eliminated all matters set forth in the Series A Certificate of Designation with respect to the Series A Convertible Preferred Stock from the Certificate of Incorporation of the Company. Pursuant to the Termination Certificate, the authorized shares of Series A Convertible Preferred Stock in the Series A Certificate of Designation resumed the status of authorized but unissued and undesignated shares of preferred stock of the Company. Redemption of Convertible Notes In connection with the closing of the Offering, $933,074 aggregate principal amount of Convertible Notes plus interest and a 40% redeemable premium were redeemed for total payments of $1,548,792. See Note 4. Of this amount, approximately $167,031 was paid to its affiliates in redemption of their Convertible Notes. Other Events As a result of the consummation of the Offering and the Unit Exchange on August 31, 2015, the Company issued a total of 1,895,010 Units (1,666,667 Units sold in the Offering and 228,343 Exchange Units issued in the Unit Exchange), comprised of a total of aggregate of 1,895,010 shares of Common Stock, 1,895,010 shares of Series B Preferred Stock and 7,580,040 Series A Warrants. As of such date, the Underwriter had the right to purchase an additional 250,000 Units pursuant to its overallotment option under the Underwriting Agreement and 83,333 Units pursuant to the Unit Purchase Option. Accounting for share-based payment The Company has adopted ASC 718- Compensation-Stock Compensation ("ASC 718"). Under ASC 718 stock-based employee compensation cost is recognized using the fair value based method for all new awards granted after January 1, 2006 and unvested awards outstanding at January 1, 2006. Compensation costs for unvested stock options and non-vested awards that were outstanding at January 1, 2006, are being recognized over the requisite service period based on the grant-date fair value of those options and awards, using a straight-line method. We elected the modified-prospective method under which prior periods are not retroactively restated. ASC 718 requires companies to estimate the fair value of stock-based payment awards on the date of grant using an option-pricing model or other acceptable means. The Company uses the Black-Scholes option valuation model which requires the input of significant assumptions including an estimate of the average period of time employees will retain vested stock options before exercising them, the estimated volatility of the Company's common stock price over the expected term, the number of options that will ultimately be forfeited before completing vesting requirements, the expected dividend rate and the risk-free interest rate. Changes in the assumptions can materially affect the estimate of fair value of stock-based compensation and, consequently, the related expense recognized. The assumptions the Company uses in calculating the fair value of stock-based payment awards represent the Company's best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based compensation expense could be materially different in the future. Since the Company's common stock has no significant public trading history, and the Company has experienced no significant option exercises in its history, the Company is required to take an alternative approach to estimating future volatility and estimated life and the future results could vary significantly from the Company's estimates. The Company compiled historical volatilities over a period of 2 to 7 years of 15 small-cap medical companies traded on major exchanges and 10 mid-range medical companies on the OTC Bulletin Board and combined the results using a weighted average approach. In the case of ordinary options to employees the Company determined the expected life to be the midpoint between the vesting term and the legal term. In the case of options or warrants granted to non-employees, the Company estimated the life to be the legal term unless there was a compelling reason to make it shorter. When an option or warrant is granted in place of cash compensation for services, the Company deems the value of the service rendered to be the value of the option or warrant. In most cases, however, an option or warrant is granted in addition to other forms of compensation and its separate value is difficult to determine without utilizing an option pricing model. For that reason the Company also uses the Black-Scholes option-pricing model to value options and warrants granted to non-employees, which requires the input of significant assumptions including an estimate of the average period the investors or consultants will retain vested stock options and warrants before exercising them, the estimated volatility of the Company's common stock price over the expected term, the number of options and warrants that will ultimately be forfeited before completing vesting requirements, the expected dividend rate and the risk-free interest rate. Changes in the assumptions can materially affect the estimate of fair value of stock-based consulting and/or compensation and, consequently, the related expense recognized. Since the Company has limited trading history in its stock and no first-hand experience with how its investors and consultants have acted in similar circumstances, the assumptions the Company uses in calculating the fair value of stock-based payment awards represent its best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based consulting and interest expense could be materially different in the future. Valuation and accounting for options and warrants The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility and estimated term. In January 2014 the Company issued 4,336 shares of common stock to the former CEO at $1.25 per share upon his exercising options. In January through March 2014, 9 warrant holders exercised warrants through a cashless exercise for a total of 15,442 shares of common stock. In January and February 2014 the Company issued warrants to purchase 21,538 shares pursuant to a February 4, 2014 private placement whereby the Company issued 20,550 shares of Series A Convertible Preferred Stock raising gross proceeds of $2,055,000. The warrants are at an exercise price of $24.38. In February 2014 the Company issued a warrant to purchase 1,482 shares of common stock at an exercise price of $20.25 to a major shareholder Dr. Samuel Herschkowitz. The warrant is in consideration for a bridge loan extended in December 2013 that has been paid in February 2014. On March 31, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6% of the stated value of the Preferred Shares paid on a quarterly basis in the form of common stock per a stipulated $19.50 per share. As a result 970 shares of common stock were issued to 16 holders of Preferred Shares. In March 2014, the Company issued 4,444 shares of common stock to a warrant holder for a partial cash exercise at $11.25 per share; issued 3,333 shares to the holder via the cashless exercise of the remainder of the warrant. In June 2014, the Company issued 3,725 shares of common stock to a warrant holder exercising cashless warrants. On June 30, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6% of the stated value of the Preferred Shares paid on a quarterly basis in the form of common stock per a stipulated $19.50 per share. As a result 1,561 shares of common stock were issued to 16 holders of Preferred Shares. On June 30, 2014, the Company issued a warrant to purchase 5,431 shares of common stock at an exercise price of $12.38 to SOK Partners, LLC, in consideration for a bridge loan in the form of convertible notes. On September 9, 2014 the Resale Registration Statement went into effect. The convertible note agreement provided an immediate approximately 11% reduction to the warrant agreement. Therefore, the warrant has been adjusted to purchase 4,831 shares of common stock at an exercise price of $12.38 to SOK Partners, LLC in consideration for a bridge loan. In July 2014, the Company issued warrants to purchase 28,986 shares of common stock at an exercise price of $12.38 to two lenders in consideration for a bridge loan in the form of convertible notes. The shares above reflect approximately an 11% reduction resulting from the Resale Registration Statement that went effective September 9, 2014. In August 2014, the Company issued warrants to purchase 61,539 of common stock at an exercise price of $24.38 to the Purchasers of the Preferred Shares. The Securities Purchase Agreement with the Preferred Shareholders stipulated that if the Company was not listed on either the NASDAQ Stock Market, the New York Stock Exchange or the NYSE MKT within 180 days of closing the agreement then warrants to purchase the above additional shares would be issued in aggregate to the Preferred Shareholders. In August and September 2014, the Company issued warrants to purchase 37,440 shares of common stock at an exercise price of $12.38 to four lenders in consideration for a bridge loan in the form of convertible notes. The shares above reflect the approximate 11% reduction resulting from the Resale Registration Statement that went effective September 9, 2014. On September 30, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6% of the stated value of the Preferred Shares paid on a quarterly basis in the form of common stock per a stipulated $19.50 per share. As a result 1,561 shares of common stock were issued to 16 holders of Preferred Shares. In November 2014, the Company issued 13,700 shares of common stock, par value $0.01, in escrow for debt settlement. On December 31, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6% of the stated value of the Preferred Shares paid on a quarterly basis in the form of common stock per a stipulated $19.50 per share. As a result 1,559 shares of common stock were issued to 16 holders of Preferred Shares. For grants of stock options and warrants in 2014 the Company used a 1.44% to 2.75% risk-free interest rate, 0% dividend rate, 59% to 66% volatility and estimated terms of 5 to 10 years. Value computed using these assumptions ranged from $3.2006 to $13.9195 per share. In January 2015, the Company issued a dividend adjustment to the Purchasers of the Preferred Shares as described above. Certain previous dividends paid were calculated with an exercise price of $19.50 per share, but should have been calculated at $9.75 per share. As a result 3,122 shares of common stock were issued to 16 holders of Preferred Shares. On March 31, 2015, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6% of the stated value of the Preferred Shares paid on a quarterly basis in the form of common stock per a stipulated $9.75 per share. As a result 3,121 shares of common stock were issued to 16 holders of Preferred Shares. On June 30, 2015, the Company issued dividends to Purchases of the Preferred Shares as described above. The dividends are at an annual rate of 6% of the stated value of the Preferred Shares paid on a quarterly basis in the form of common stock per a stipulated $9.75 per share. As a result 3,121 shares of common stock were issued to 16 holders of Preferred Shares. For grants of stock options and warrants in 2015 the Company used a 1.63% to 2.35% risk-free interest rate, 0% dividend rate, 59% to 66% volatility and estimated terms of 5 to 10 years. Value computed using these assumptions ranged from $0.2750 to $5.5695 per share. The following summarizes transactions for stock options and warrants for the periods indicated: Stock Options Warrants Number of Average Number of Average Outstanding at December 31, 2013 385,733 $ 6.75 461,920 $ 10.50 Issued 75,683 8.12 161,375 3.81 Expired (7,879 ) 23.58 (81,851 ) 13.54 Exercised (4,936 ) 1.76 (40,722 ) 8.38 Outstanding at December 31, 2014 448,601 $ 7.51 500,722 $ 7.95 Issued 73,158 3.14 7,581,722 4.95 Expired (13,804 ) 13.71 (1,567 ) 14.04 Exercised - - - - Outstanding at September 30, 2015 507,955 $ 6.82 8,080,877 $ 5.14 At September 30, 2015, 504,788 stock options are fully vested and currently exercisable with a weighted |
Note 4 - Short-term Notes Payab
Note 4 - Short-term Notes Payable | 9 Months Ended |
Sep. 30, 2015 | |
Disclosure Text Block [Abstract] | |
Short-term Debt [Text Block] | NOTE 4 – SHORT-TERM NOTES PAYABLE From July through September 2014, we entered into a series of securities purchase agreements pursuant to which we issued approximately $1.8 million original principal amount (subsequently reduced to approximately $1.6 million aggregate principal amount in accordance with their terms) of convertible promissory notes (the “2014 Convertible Notes”) and warrants exercisable for shares of our common stock for an aggregate purchase price of $1,475,000. Of this amount, we issued to SOK Partners, LLC, an affiliate of the Company, $122,196 original principal amount of the 2014 Convertible Notes and warrants exercisable for 5,431 shares of our common stock for an aggregate purchase price of $100,000. In April and May 2015, we issued and sold to a private investor additional Convertible Notes in an aggregate original principal amount of $275,000 for an aggregate purchase price of $250,000, containing terms substantially similar to the 2014 Convertible Notes (the “2015 Convertible Notes” and, together with the 2014 Convertible Notes, the “Convertible Notes”). No warrants were issued with the 2015 Convertible Notes. Under a provision in the existing agreements, upon effectiveness of a resale registration statement covering certain shares, on September 9, 2014, the principal amount of the notes was reduced by 11%, to $1,603,260 and the number of Warrants was reduced by 11%, to 71,257 shares. As of June 30, 2015, $927,663 aggregate principal amount of Convertible Notes, plus accrued and unpaid interest thereto, have been converted into shares of our common stock and $933,073 aggregate principal amount of Convertible Notes remained outstanding. In connection with the Offering, the holders of the Convertible Notes agreed to not exercise their right to convert the Convertible Notes into shares of the Company’s common stock, in exchange for the Company’s agreement to redeem all of the outstanding Convertible Notes promptly following the consummation of the Offering at a redemption price equal to 140% of the principal amount, plus accrued and unpaid interest to the redemption date. On August 31, 2015, the closing date of the offering, the Company redeemed the remaining $933,074 aggregate principal amount of Convertible Notes plus interest and a 40% redeemable premium, for a total payment of $1,548,792. Of this amount, approximately $167,031 was paid to its affiliates in redemption of their Convertible Notes. Each holder of the Convertible Notes agreed to the foregoing terms and entered into an Amendment to Senior Convertible Notes and Agreement with the Company. As of September 30, 2015 none of the Convertible Notes were outstanding. |
Note 5 - Loss Per Share
Note 5 - Loss Per Share | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE 5 - LOSS PER SHARE The following table presents the shares used in the basic and diluted loss per common share computations: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Numerator: Net loss available in basic and diluted calculation $ (1,116,402 ) $ (1,115,221 ) $ (2,527,524 ) $ (4,468,170 ) Denominator: Weighted average common shares outstanding-basic 3,936,126 2,984,335 3,435,700 2,967,483 Effect of diluted stock options and warrants (1) - - - - Weighted average common shares outstanding-basic 3,936,126 2,984,335 3,435,700 2,967,483 Loss per common share basic and diluted $ (0.28 ) $ (0.37 ) $ (0.74 ) $ (1.51 ) (1) The number of shares underlying options and warrants outstanding as of September 30, 2015 and September 30, 2014 are 8,588,832 and 945,220 respectively. The number of underlying Series B preferred shares outstanding is 1,895,010. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive. |
Note 6 - Income Taxes
Note 6 - Income Taxes | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 6 – INCOME TAXES The provision for income taxes consists of an amount for taxes currently payable and a provision for tax consequences deferred to future periods. Deferred income taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. There is no income tax provision in the accompanying statements of operations due to the cumulative operating losses that indicate a 100% valuation allowance for the deferred tax assets and state income taxes is appropriate. During September 2013, the Company experienced an "ownership change" as defined in Section 382 of the Internal Revenue Code which could potentially limit the ability to utilize the Company’s net operating losses (NOLs). The general limitation rules allow the Company to utilize its NOLs subject to an annual limitation that is determined by multiplying the federal long-term tax-exempt rate by the Company’s value immediately before the ownership change. At September 30, 2015, the Company had approximately $22.3 million of gross NOLs to reduce future federal taxable income, the majority of which are expected to be available for use in 2016, subject to the Section 382 limitation described above. The federal NOLs will expire beginning in 2022 if unused. The Company also had approximately $12.5 million of gross NOLs to reduce future state taxable income at September 30, 2015, which will expire in years 2022 through 2034 if unused. The Company's net deferred tax assets, which include the NOLs, are subject to a full valuation allowance. At September 30, 2015, the federal and state valuation allowances were $9.5 million and $0.4 million, respectively. The valuation allowance has been recorded due to the uncertainty of realization of the benefits associated with the net operating losses. Future events and changes in circumstances could cause this valuation allowance to change. The components of deferred income taxes at September 30, 2015 and December 31, 2014 are as follows: September 30, December 31, Deferred Tax Asset: Net Operating Loss $ 9,307,000 $ 7,919,000 Other 628,000 1,150,000 Total Deferred Tax Asset 9,935,000 9,069,000 Less Valuation Allowance 9,935,000 9,069,000 Net Deferred Income Taxes $ — $ — |
Note 7 _ Rent Obligation
Note 7 – Rent Obligation | 9 Months Ended |
Sep. 30, 2015 | |
Leases [Abstract] | |
Leases of Lessee Disclosure [Text Block] | NOTE 7 – RENT OBLIGATION The Company leases its principal office under a lease that can be cancelled after three years with proper notice per the lease and an amortized schedule of adjustments that will be due to the landlord. The lease extends five years and expires January 2018. In addition to rent, the Company pays real estate taxes and repairs and maintenance on the leased property. Rent expense was $15,900 and $50,156 for the three and nine months ended September 30, 2015 and was $15,719 and $46,321 for the three and nine months ended September 30, 2014 respectively. The Company’s rent obligation for the next five years is as follows: 2015 $ 9,250 2016 $ 38,000 2017 $ 39,000 2018 $ 3,600 2019 $ - |
Note 8 _ Liability for Equity-L
Note 8 – Liability for Equity-Linked Financial Instruments | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 8 – LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS The Company adopted ASC 815- Derivatives and Hedging (“ASC 815”) on January 1, 2009. ASC 815 mandates a two-step process for evaluating whether an equity-linked financial instrument or embedded feature is indexed to the entity's own stock. It was effective for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years, which was the Company's first quarter of 2009. Many of the warrants issued by the Company contain a strike price adjustment feature, which upon adoption of ASC 815, changed the classification (from equity to liability) and the related accounting for warrants with a $479,910 estimated fair value of as of January 1, 2009. An adjustment was made to remove $486,564 from paid-in capital (the cumulative values of the warrants on their grant dates), a positive adjustment of $6,654 was made to accumulated deficit, representing the gain on valuation from the grant date to January 1, 2009, and $479,910 was booked as a liability. The warrants issued in 2011 do not contain a strike price adjustment feature and, therefore, are not treated as a liability. The January 1, 2009 valuation was computed using the Black-Scholes valuation model based upon a 2.5-year expected term, an expected volatility of 63%, an exercise price of $34.50 per share, a stock price of $26.25, a zero dividend rate and a 1.37% risk free interest rate. Subsequent to January 1, 2009 these warrants were re-valued at the end of each quarter and a gain or loss was recorded based upon their increase or decrease in value during the quarter. Likewise, new warrants that were issued during 2009 and 2010 were valued, using the Black-Scholes valuation model on their date of grant and an entry was made to reduce paid-in capital and increase the liability for equity-linked financial instruments. These warrants were also re-valued at the end of each quarter based upon their expected life, the stock price, the exercise price, assumed dividend rate, expected volatility and risk free interest rate. A significant reduction in the liability was realized in 2010 primarily due to a reduction from $37.50 to $16.50 per share in the underlying stock price. The Company realized a slight increase in the liability for existing warrants during the first quarter of 2012. In 2013 there was a significant decrease in the liability primarily due to current expirations and the amount of warrants reaching expiration in the near term. In 2014, all warrants expired and the liability was reduced to zero. The inputs to the Black-Scholes model during 2009 through 2014 were as follows: Stock price $3.75 to $37.50 Exercise price $ .75 to $25.613 Expected life (years) 2.0 to 6.5 Expected volatility 59% Assumed dividend rate - % Risk-free interest rate .13% to 2.97% The original valuations, annual gain/(loss) and end of year valuations are shown below: Initial Value Annual Gain (Loss) Value at 12/31/09 2010 Gain (Loss) Value at 12/31/10 2011 Gain (Loss) Value at 12/31/2011 2012 Gain (Loss) Value at12/31/2012 2013 Gain (Loss) Value at12/31/2013 2014 Gain (Loss) Value at 12/31/2014 January 1, 2009 adoption $ 479,910 $ (390,368 ) $ 870,278 $ 868,772 $ 1,506 $ (88,290 ) $ 89,796 $ (21,856 ) $ 111,652 $ 100,053 $ 11,599 $ 11,599 $ - Warrants issued in quarter ended 6/30/2009 169,854 20,847 149,007 147,403 1,604 (4,689 ) 6,293 6,293 - - - - - Warrants issued in quarter ended 9/30/2009 39,743 (738 ) 40,481 40,419 62 (1,562 ) 1,624 910 714 714 - - - Warrants issued in quarter ended 12/31/2009 12,698 617 12,081 12,053 28 (724 ) 752 415 337 337 - - - Subtotal 702,205 1,071,847 Warrants issued in quarter ended 3/31/2010 25,553 25,014 539 (5,570 ) 6,109 3,701 2,408 2,408 - - - Warrants issued in quarter ended 6/30/2010 31,332 30,740 592 (6,122 ) 6,714 6,083 631 631 - - - Warrants issued in quarter ended 9/30/2010 31,506 20,891 10,615 (44,160 ) 54,775 1,338 53,437 53,437 - - - Total $ 790,596 $ (369,642 ) $ 1,071,847 $ 1,145,292 $ 14,946 $ (151,117 ) $ 166,063 $ (3,116 ) $ 169,179 $ 157,580 $ 11,599 $ 11,599 $ - |
Note 9 _ Related Party Transact
Note 9 – Related Party Transactions | 9 Months Ended |
Sep. 30, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 9 – RELATED PARTY TRANSACTIONS The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company may be a party prior to their implementation, to assess whether such transactions meet applicable legal requirements. Convertible Note Issuances to Dr. Samuel Herschkowitz and SOK Partners, LLC On September 11, 2013, both the Herschkowitz Note and the SOK Note (each as defined below in this Note 9) were converted in full by the holders thereof at $0.014 per share. The principal and interest balance of the Herschkowitz Note of $314,484 was converted into 299,509 shares of common stock. The principal and interest balance of the SOK Note of $680,444 was converted into 648,050 shares of common stock. The collateral that secured these notes was released back to the Company. The remaining disclosure of this Note 9 provides historical information regarding the Herschkowitz Note, the SOK Note and certain other convertible note issuances. On March 28, 2012, the Company, entered into a Convertible Note Purchase Agreement, dated as of March 28, 2012 (the “SOK Purchase Agreement”) with SOK Partners, LLC (“SOK Partners”), and an investment partnership. Josh Kornberg, who is the Company’s Chief Executive Officer and interim Chairman of the Board, and Dr. Samuel Herschkowitz are affiliates of the manager of SOK Partners and Ricardo Koenigsberger, a director, is a holder of membership units of SOK Partners. Pursuant to the SOK Purchase Agreement, the Company issued a 20.0% convertible note due August 2012 in the principal amount of up to $600,000. Principal and accrued interest on the note is due and payable on August 28, 2012. The Company’s obligations under the note are secured by the grant of a security interest in substantially all tangible and intangible assets of the Company. The SOK Purchase Agreement and the note included customary events of default that include, among other things, non-payment defaults, covenant defaults, inaccuracy of representations and warranties, cross-defaults to other indebtedness and bankruptcy and insolvency defaults. The occurrence of an event of default would have resulted in the acceleration of the Company’s obligations under the note, and interest rate of twenty-four (24%) percent per annum accrues if the note had not been paid when due. On March 28, 2012, the Company received an advance of $84,657 under the note, including a cash advance of $60,000 net of a prepayment of interest on the first $300,000 in advances under the note. The holder of the note was entitled to convert the note into shares of common stock of the Company at an initial conversion price per share of $4.88 per share, subject to adjustment in the event of (1) certain issuances of common stock or convertible securities at a price lower than the conversion price of the note, and (2) recapitalizations, stock splits, reorganizations and similar events. In addition, the Company is required to issue two installments of an equity bonus to SOK Partners in the form of common stock valued at the rate of $4.88 per share. In March 2012, the Company issued the first equity bonus to SOK Partners, consisting of 61,539 shares of common stock, with a second installment due within five business days after SOK Partners has made aggregate advances under the note of at least $300,000. In May 2012 the Company issued the second installment consisting of 61,539 shares of common stock subsequent to SOK Partners surpassing the aggregate advances of $300,000. Until the maturity date of the note, if the Company obtained financing from any other source without the consent of SOK Partners, then the Company is required to issue additional bonus equity in an amount equal to $600,000 less the aggregate advances on the note made prior to the breach. The principal balance of the SOK Note was $357,282 as of December 31, 2012. As long as any amount payable under the SOK Note remained outstanding, SOK Partners or its designee were entitled to appoint a new member to the Company’s Board of Directors, to be appointed upon request. Ricardo Koenigsberger was appointed to the Board by SOK Partners on June 25, 2012. On March 28, 2012, the Company signed an Amended and Restated Note Purchase Agreement, dated as of December 20, 2011, with Dr. Samuel Herschkowitz (as amended, the “Herschkowitz Purchase Agreement”). Pursuant to the Herschkowitz Purchase Agreement, the Company issued a 20.0% convertible note due June 20, 2012 in the principal amount of $240,000 for previous advances under the note. The Company’s obligations under the note were secured by the grant of a security interest in substantially all tangible and intangible assets of the Company. The Company has previously issued to Dr. Herschkowitz an equity bonus consisting of 20,623 shares of common stock. An additional 100,000 shares were transferred to Dr. Herschkowitz effective in April 2012, upon the occurrence of an event of default on the note. On August 13, 2012, the Company entered into a settlement and forbearance agreement described below, relating to the defaults under the Herschkowitz Note and other matters. As long as any amount payable under the Herschkowitz Note remained outstanding, Dr. Herschkowitz or his designee was entitled to appoint a special advisor to the Company’s Board of Directors, to be appointed as a member of the Board upon request. Pursuant to this authority, Josh Kornberg was appointed to the Board on March 9, 2012. In addition, pursuant to this authority, Mr. Koenigsberger was appointed to the Board on June 25, 2012. Pursuant to a letter dated April 20, 2012, Dr. Herschkowitz advised the Company of the occurrence of numerous events of default under the terms of the Herschkowitz Note and the Herschkowitz Note Purchase Agreement. As a result of such events of default, Dr. Herschkowitz asserted significant rights as a secured creditor of the Company, including his rights as a secured creditor with a security interest in substantially all assets of the Company. Without a settlement relating to the defaults and other matters, Dr. Herschkowitz could have taken action to levy upon the Company’s assets, including patents and other intellectual property. In addition, the Company and Atlantic Partners Alliance LLC (“APA”) were parties to a letter agreement dated March 14, 2012, providing APA and its affiliates (including Dr. Herschkowitz and SOK) with rights to avoid dilution relating to additional issuances of equity securities by the Company through July 14, 2012, evidencing the parties’ intent that APA would be provided with significant protection against dilution. This protection was in recognition of APA’s investments in the Company involving a high degree of risk and the Company’s contemplated need for restructuring its indebtedness, which were anticipated to result, and have resulted, in significant dilution. The parties acknowledged that Dr. Herschkowitz and SOK would not have made their historical cash investments in the Company to the same degree had the dilution protection not been provided, and the investments by these parties have enabled the Company to avoid insolvency. Since the respective dates of the Herschkowitz Note Purchase Agreement and the SOK Note Purchase Agreement, the Company has issued in excess of 213,334 shares of common stock to parties other than APA and its affiliates, resulting in significant dilution. Effective August 15, 2012, the Company entered into a letter agreement with Dr. Herschkowitz, APA and SOK (the “Forbearance Agreement”). Under the Forbearance Agreement, among other things, (i) Dr. Herschkowitz agreed to forbear from asserting his rights as a secured creditor to substantially all of the Company’s assets, resulting from the Company’s defaults; (ii) the Company issued an aggregate 353,334 shares of common stock to Dr. Herschkowitz and SOK and adjusted the conversion price of their convertible notes to $1.05 per share from $4.88 per share, to satisfy the Company’s obligations to adjust for dilution under the March 14, 2012 letter agreement; (iii) Dr. Herschkowitz and SOK agreed to extend the maturity of their notes to December 31, 2012; (iv) the Company agreed to pay certain compensation to Dr. Herschkowitz upon the achievement of financial milestones; and (v) Dr. Herschkowitz clarified and waived certain of his rights, including the right to interest at a penalty rate upon default. In the Forbearance Agreement, Dr. Herschkowitz agreed to forbear from exercising any of his rights arising under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement with respect to the existing defaults against the Company, subject to the limitations set forth in the letter agreement and without releasing or waiving any future breach of the letter agreement. He further agreed to forbear from exercising any rights with respect to events of default, security interests in the collateral and other similar remedies against the Company or his interests under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement until the occurrence of an event of default under the Herschkowitz Note: (a) that does not constitute an existing default; and (b) occurs and accrues after the effective date of the letter agreement. Dr. Herschkowitz and the Company acknowledged that 100,000 shares of the Company’s common stock, constituting the “penalty shares” under the Herschkowitz Note Purchase Agreement, were delivered to Dr. Herschkowitz in April 2012 as provided in the Herschkowitz Note Purchase Agreement upon an event of default. Notwithstanding a provision that would have increased the rate of interest from 20% to 24% upon an event of default, Dr. Herschkowitz agreed that the Company would not pay the increased rate of interest but would accrue interest at 20% until a subsequent event of default. Under the Forbearance Agreement, the Herschkowitz Note and the SOK Note were amended as follows: (i) the due dates of the notes were extended to December 31, 2012 from the previous due dates of June 20, 2012 and August 28, 2012, respectively; (ii) Dr. Herschkowitz will release his security agreement after payment of all currently outstanding promissory notes to parties other than SOK; and (iii) the Herschkowitz Note was amended to add certain events of default relating to judgments against the Company or other creditors taking action with respect to the collateral. In consideration of the extension additional milestone fees were revised as described below. Pursuant to a Forbearance and Settlement Agreement with these parties dated August 15, 2012, as subsequently amended, the due date of these notes were extended to August 31, 2013. APA and its affiliates agreed to terminate the letter agreement regarding dilution dated March 14, 2012. In consideration of the various provisions of the letter agreement and in recognition of the understanding of the parties regarding dilution and the agreements of APA and its affiliates to forbear and to extend the due dates of the notes, the Company (i) issued 176,667 shares to Dr. Herschkowitz, (ii) issued 176,667 shares to SOK, and (iii) the conversion price of the Herschkowitz Note and the SOK Note, respectively was changed to $1.05 per share from $4.88 per share. In the event that the Company consummated the following series of transactions on or prior to June 30, 2013: (i) a merger or similar transaction with a public shell company, (ii) raising between $2 million and $4 million through an offering of the securities of the public shell company concurrent with or subsequent to the shell merger; and (iii) listing the Company’s shares on NASDAQ pursuant to an underwritten offering of the Company’s securities resulting in gross proceeds of between $5 million and $30 million, then the Company would have been required to deliver to Dr. Herschkowitz the following compensation: (A) $75,000 upon consummating the shell merger, (B) $150,000 upon consummating the qualifying financing round; and (C) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $1,000,000. The Company was also required to reimburse Dr. Herschkowitz at his actual out-of-pocket cost for reasonable expenses incurred in connection with the shell transactions, with a maximum limit of $10,000 for such expenses. In connection with the extension of the due date for the Herschkowitz Note and the SOK Note on March 6, 2013, the milestone fees were revised. The following fees were payable to Dr. Herschkowitz in the event that the Company consummates the following series of transactions on or prior to December 31, 2013: (i) financing raising not less than $1 million, compensation of $75,000; (ii) a going private transaction, compensation of $200,000; and (iii) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $3,000,000. In May 2013 Dr. Herschkowitz received $75,000 after the Company surpassed raising $1 million. On January 6, 2014 a side-letter to the forbearance agreement was signed between Dr. Herschkowitz and the Company. Skyline agreed that the private offering for its Series A Convertible Preferred Stock, plus any future offering of any class of its preferred stock, shall be considered a NASDAQ underwriting for purposes of Section 8(e) of the Forbearance Agreement. As such Dr. Herschkowitz received $200,000 or 3% of the gross proceeds of any such offering per the terms of Section 8(e) of the Forbearance Agreement. In addition, any listing of the Company’s shares on the New York Stock Exchange shall qualify as a NASDAQ underwriting under the Forbearance Agreement. For the avoidance of doubt, the payment in the aggregate for all offerings qualifying as a NASDAQ underwriting shall under no circumstances be less than $200,000 or greater than $1,000,000. Section 8(e) of the Forbearance Agreement will apply to any transactions consummated by Skyline on or before June 30, 2014. As a result of the transactions under the Forbearance Agreement and other investments, Dr. Herschkowitz, SOK and their affiliates currently own shares of common stock and securities representing beneficial ownership of approximately 49% of the Company’s outstanding common stock, giving such parties significant control over election of the Board of Directors and other matters. On November 6, 2012, the Company issued and sold convertible promissory notes in the total principal amount of $156,243 to Dr. Herschkowitz and certain of his assignees. The Company issued to these parties an aggregate 20,833 shares of common stock in consideration of placement of the notes. The notes bear interest at a rate of 20% per annum and are secured by a security interest in the Company’s accounts receivable, patents and certain patent rights and are convertible into common stock upon certain mergers or other fundamental transactions at a conversion price based on the trading price prior to the transaction. The proceeds from this transaction were used to pay off approximately $155,000 in principal amount of secured indebtedness. Such notes were converted in April 2013 into 13,889 shares of common stock at $7.50 per share. In December 2013 the Company received an additional $300,000 in debt financing from SOK Partners under a non-convertible grid note due February 28, 2014, with 10% interest based on a 365 day year. Dr. Herschkowitz received 10% of the gross proceeds in advance, and the Company received $250,000 in three tranches in December 2013. In January 2014, the Company received an additional $20,000 from SOK Partners completing the grid note maximum. Should the company default on the note the interest rate will increase to 20% interest based on a 365 day year. In February 2014, the Company wired $305,589.04 to SOK Partners in complete payment of the grid note, including interest. In connection with the sale of the Preferred Shares on February 4, 2014 as described in Note 3, Josh Kornberg, our CEO, was one of the Purchasers. Mr. Kornberg purchased 19,231 Preferred Shares for a purchase price of $25,000 and received warrants to purchase 52 shares of common stock. As described in Note 1 under “Recent Developments,” in connection with the Company’s proposed offering of Units, the holders of a majority of the Preferred Shares, including Mr. Kornberg, have, as of July 20, 2015, agreed to exchange all of the outstanding Preferred Shares for units with the same terms as the Units (the “Exchange Units”). On July 23, 2014, the Company entered into the a securities purchase agreement pursuant to which the Company agreed to issue and sell convertible notes and warrants to SOK, under the terms described in Note 4 of this Report. SOK’s note (the “SOK Note”) had an original principal amount of $122,196, and the warrant issued to SOK (the “SOK Warrant”) was to initially acquire up to 5,431 additional shares of Common Stock for an aggregate purchase price of $100,000 (with a reduced principal amount as described below representing an approximately 8.7% original issue discount). Under a provision in the existing agreements, upon effectiveness of a resale registration statement covering certain shares, on September 9, 2014, the principal amount of the SOK Note was reduced to $108,696 and the number of SOK Warrants was reduced to 4,831 shares. As described in Note 4 in connection with the Offering, the holders of the Convertible Notes agreed to not exercise their right to convert the Convertible Notes into shares of the Company’s common stock, in exchange for the Company’s agreement to redeem all of the outstanding Convertible Notes promptly following the consummation of the Offering at a redemption price equal to 140% of the principal amount, plus accrued and unpaid interest to the redemption date. During September 2015, the Company redeemed all of the convertible notes for approximately $1.5 million to which approximately $167,031 was paid to the affiliates. |
Note 10 - Retirement Savings Pl
Note 10 - Retirement Savings Plan | 9 Months Ended |
Sep. 30, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | Note 10 – Retirement Savings Plan We have a pre-tax salary reduction/profit-sharing plan under the provisions of Section 401(k) of the Internal Revenue Code, which covers employees meeting certain eligibility requirements. In fiscal 2015 and 2014, we matched 100%, of the employee’s contribution up to 4% of their earnings. The employer contribution was $7,021 and $21,735 for the three and nine months ending September 30, 2015 and was $14,102 and $29,596 for the three and nine months ending September 30, 2014, respectively. |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2015 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies Disclosure [Text Block] | Note 11 – Commitments and Contingencies Darryl C. Demaray, Brady P. Farrell, Christopher S. Howell and Ronald W. Walters v. Skyline Medical Inc. |
Note 12 - Supplemental Cash Flo
Note 12 - Supplemental Cash Flow Data | 9 Months Ended |
Sep. 30, 2015 | |
Supplemental Cash Flow Elements [Abstract] | |
Cash Flow, Supplemental Disclosures [Text Block] | Note 12 – Supplemental Cash Flow Data Cash payments for interest were $226,960 and $237,121 for the three and nine months ended September 30, 2015 and were $21,627 and $43,233 for the three and nine months ended September 30, 2014. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Developments In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-12, "Compensation - Stock Compensation" We reviewed all other significant newly issued accounting pronouncements and determined they are either not applicable to our business or that no material effect is expected on our financial position and results of our operations. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs In July 2015, the FASB issued ASU No. 2015-11 , Inventory (Topic 330): Simplifying the Measurement of Inventory |
Goodwill and Intangible Assets, Intangible Assets, Indefinite-Lived, Policy [Policy Text Block] | Valuation of Intangible Assets We review identifiable intangible assets for impairment in accordance with ASC 350 — Intangibles —Goodwill and Other, whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Our intangible assets are currently solely the costs of obtaining trademarks and patents. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which we operate. If such events or changes in circumstances are present, the undiscounted cash flows method is used to determine whether the intangible asset is impaired. Cash flows would include the estimated terminal value of the asset and exclude any interest charges. If the carrying value of the asset exceeds the undiscounted cash flows over the estimated remaining life of the asset, the asset is considered impaired, and the impairment is measured by reducing the carrying value of the asset to its fair value using the discounted cash flows method. The discount rate utilized is based on management’s best estimate of the related risks and return at the time the impairment assessment is made. |
Use of Estimates, Policy [Policy Text Block] | Accounting Policies and Estimates The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Presentation of Taxes Collected from Customers Policy [Policy Text Block] | Presentation of Taxes Collected from Customers Sales taxes are imposed on the Company’s sales to nonexempt customers. The Company collects the taxes from customers and remits the entire amounts to the governmental authorities. The Company’s accounting policy is to exclude the taxes collected and remitted from revenues and expenses. |
Shipping and Handling Cost, Policy [Policy Text Block] | Shipping and Handling Shipping and handling charges billed to customers are recorded as revenue. Shipping and handling costs are recorded within cost of goods sold on the statement of operations. |
Advertising Costs, Policy [Policy Text Block] | Advertising Advertising costs are expensed as incurred. Advertising expenses were $500 and $1,917 in the three and nine months ended September 30, 2015 and were $4,201 and $11,994 in the three and nine months ended September 30, 2014. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are charged to operations as incurred. Research and development expenses were $58,792 and $179,739 in the three and nine months ended September 30, 2015 and were $72,294 and $321,929 in the three and nine months ended September 30, 2014. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company recognizes revenue in accordance with the SEC’s Staff Accounting Bulletin Topic 13 Revenue Recognition and ASC 605-Revenue Recognition. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable and collectability is probable. Delivery is considered to have occurred upon either shipment of the product or arrival at its destination based on the shipping terms of the transaction. The Company’s standard terms specify that shipment is FOB Skyline and the Company will, therefore, recognize revenue upon shipment in most cases. This revenue recognition policy applies to shipments of the STREAMWAY FMS units as well as shipments of cleaning solution kits. When these conditions are satisfied, the Company recognizes gross product revenue, which is the price it charges generally to its customers for a particular product. Under the Company’s standard terms and conditions, there is no provision for installation or acceptance of the product to take place prior to the obligation of the customer. The customer’s right of return is limited only to the Company’s standard one-year warranty whereby the Company replaces or repairs, at its option, and it would be rare that the STREAMWAY FMS unit or significant quantities of cleaning solution kits may be returned. Additionally, since the Company buys both the STREAMWAY FMS units and cleaning solution kits from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. |
Receivables, Policy [Policy Text Block] | Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management’s assessment of the current status of individual accounts, changes to the valuation allowance have not been material to the financial statements. |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: September 30, December 31, Finished goods $ 46,208 $ 88,362 Raw materials 182,994 237,556 Work-In-Process 7,688 41,449 Total $ 236,890 $ 367,367 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing tooling 3 - 7 Demo Equipment 3 The Company’s investment in Fixed Assets consists of the following: September 30, December 31, Computers and office equipment $ 121,901 $ 123,708 Leasehold improvements 23,874 23,874 Manufacturing tooling 97,288 97,288 Demo Equipment 8,962 30,576 Total 252,025 275,446 Less: Accumulated depreciation 125,455 78,967 Total Fixed Assets, Net $ 126,570 $ 196,479 Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations as incurred. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of trademarks and patent costs. Amortization expense was $1,632 and $4,520 in the three and nine months ended September 30, 2015, and was $0 in the three and nine months ended September 30, 2014. The assets are reviewed for impairment annually, and impairment losses, if any, are charged to operations when identified. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with ASC 740- Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to impact taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified no income tax uncertainties. Tax years subsequent to 2011 remain open to examination by federal and state tax authorities. |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Patents and Intellectual Property On January 25th, 2014 the Company filed a non-provisional PCT Application No. PCT/US2014/013081 claiming priority from the U.S. Provisional Patent Application, number 61756763 which was filed one year earlier on January 25th, 2013. The Patent Cooperation Treaty (“PCT”) allows an applicant to file a single patent application to seek patent protection for an invention simultaneously in each of the 148 countries of the PCT, including the United States. By filing this single “international” patent application through the PCT, it is easier and more cost effective than filing separate applications directly with each national or regional patent office in which patent protection is desired. Our PCT patent application is for the new model of the surgical fluid waste management system. We obtained a favorable International Search Report from the PCT searching authority indicating that the claims in our PCT application are patentable (i.e., novel and non-obvious) over the cited prior art. A feature claimed in the PCT application is the ability to maintain continuous suction to the surgical field while measuring, recording and evacuating fluid to the facilities sewer drainage system. This provides for continuous operation of the STREAMWAY System unit in suctioning waste fluids, which means that suction is not interrupted during a surgical operation, for example, to empty a fluid collection container or otherwise dispose of the collected fluid. The Company holds the following granted patents in the United States and a pending application in the United States on its earlier models: US7469727, US8123731 and U.S. Publication No. US20090216205 (collectively, the “Patents”). These Patents will begin to expire on August 8, 2023. In July 2015, Skyline Medical filed an international (PCT) patent application for its fluid waste collection system and received a favorable determination by the International Searching Authority finding that all of the claims satisfy the requirements for novelty, inventive step and industrial applicability. Skyline anticipates that the favorable International Search Report will result in allowance of its various national applications. |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events In preparing these financial statements the Company evaluated for recognition or disclosure the events or transactions that occurred through November 13, 2015, the date of this filing. Except as discussed in Note 11 there were no subsequent events that required recognition or disclosure in the financial statements. |
Basis of Accounting, Policy [Policy Text Block] | Interim Financial Statements The Company has prepared the unaudited interim financial statements and related unaudited financial information in the footnotes in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. These interim financial statements reflect all adjustments consisting of normal recurring accruals, which, in the opinion of management, are necessary to present fairly the Company’s financial position, the results of its operations and its cash flows for the interim periods. These interim financial statements should be read in conjunction with the annual financial statements and the notes thereto contained in the Form 10-K filed with the SEC on April 30, 2015. The nature of the Company’s business is such that the results of any interim period may not be indicative of the results to be expected for the entire year. |
Note 1 - Summary of Significa21
Note 1 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Accounting Policies [Abstract] | |
Schedule of Inventory, Current [Table Text Block] | September 30, December 31, Finished goods $ 46,208 $ 88,362 Raw materials 182,994 237,556 Work-In-Process 7,688 41,449 Total $ 236,890 $ 367,367 |
Property, Plant and Equipment, Useful Life [Table Text Block] | Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing tooling 3 - 7 Demo Equipment 3 |
Property, Plant and Equipment [Table Text Block] | September 30, December 31, Computers and office equipment $ 121,901 $ 123,708 Leasehold improvements 23,874 23,874 Manufacturing tooling 97,288 97,288 Demo Equipment 8,962 30,576 Total 252,025 275,446 Less: Accumulated depreciation 125,455 78,967 Total Fixed Assets, Net $ 126,570 $ 196,479 |
Note 3 _ Stockholders_ Defici22
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Stockholders' Equity Note [Abstract] | |
Schedule of Share-based Compensation, Activity [Table Text Block] | Stock Options Warrants Number of Average Number of Average Outstanding at December 31, 2013 385,733 $ 6.75 461,920 $ 10.50 Issued 75,683 8.12 161,375 3.81 Expired (7,879 ) 23.58 (81,851 ) 13.54 Exercised (4,936 ) 1.76 (40,722 ) 8.38 Outstanding at December 31, 2014 448,601 $ 7.51 500,722 $ 7.95 Issued 73,158 3.14 7,581,722 4.95 Expired (13,804 ) 13.71 (1,567 ) 14.04 Exercised - - - - Outstanding at September 30, 2015 507,955 $ 6.82 8,080,877 $ 5.14 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option and Warrant Plans, by Exercise Price Range [Table Text Block] | Range of Prices Shares Weighted Remaining Life Options $ 0.75 7,333 5.77 $ 3.10 59,681 9.76 $ 3.21 6,232 10.00 $ 3.45 7,245 9.51 $ 4.875 134 7.45 $ 5.25 2,031 6.94 $ 5.625 192,000 7.46 $ 5.925 23,206 7.47 $ 6.00 123,998 6.88 $ 6.50 3,845 9.26 $ 6.60 5,332 6.32 $ 8.25 3,636 9.01 $ 9.9375 3,019 7.79 $ 10.50 3,238 7.79 $ 11.25 13,666 7.35 $ 12.75 67 7.61 $ 13.875 2,160 8.51 $ 17.25 40,261 8.44 $ 18.75 3,334 8.40 $ 20.25 4,940 8.26 $ 21.75 1,336 8.02 $ 23.85 1,260 8.01 507,955 Warrants $ 0.75 400 0.19 $ 4.95 7,580,040 4.92 $ 6.00 102,857 2.45 $ 9.00 2,666 2.32 $ 9.75 63,227 3.85 $ 11.25 203,801 2.27 $ 12.375 71,257 3.86 $ 12.38 5,557 4.11 $ 13.50 4,444 2.72 $ 14.85 23,612 2.66 $ 20.25 1,481 3.38 $ 24.375 21,535 3.35 8,080,877 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Year Shares Price 2011 11,666 $0.75 2012 126,029 5.25 – 6.00 2013 238,088 4.875 – 25.613 2014 59,013 6.50 – 18.75 2015 73,158 3.10 – 3.45 Total 507,955 $ .75 – 25.613 Year Shares Price 2010 400 0.75 2011 - – 2012 69,801 11.25 2013 267,579 6.00 – 14.85 2014 161,375 12.375 – 24.375 2015 7,581,722 $4.95 – 9.75 Total 8,080,877 $ 0.75 – 24.375 |
Note 5 - Loss Per Share (Tables
Note 5 - Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Numerator: Net loss available in basic and diluted calculation $ (1,116,402 ) $ (1,115,221 ) $ (2,527,524 ) $ (4,468,170 ) Denominator: Weighted average common shares outstanding-basic 3,936,126 2,984,335 3,435,700 2,967,483 Effect of diluted stock options and warrants (1) - - - - Weighted average common shares outstanding-basic 3,936,126 2,984,335 3,435,700 2,967,483 Loss per common share basic and diluted $ (0.28 ) $ (0.37 ) $ (0.74 ) $ (1.51 ) |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, December 31, Deferred Tax Asset: Net Operating Loss $ 9,307,000 $ 7,919,000 Other 628,000 1,150,000 Total Deferred Tax Asset 9,935,000 9,069,000 Less Valuation Allowance 9,935,000 9,069,000 Net Deferred Income Taxes $ — $ — |
Note 7 _ Rent Obligation (Table
Note 7 – Rent Obligation (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Leases [Abstract] | |
Schedule of Rent Expense [Table Text Block] | 2015 $ 9,250 2016 $ 38,000 2017 $ 39,000 2018 $ 3,600 2019 $ - |
Note 8 _ Liability for Equity26
Note 8 – Liability for Equity-Linked Financial Instruments (Tables) | 9 Months Ended |
Sep. 30, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | Stock price $3.75 to $37.50 Exercise price $ .75 to $25.613 Expected life (years) 2.0 to 6.5 Expected volatility 59% Assumed dividend rate - % Risk-free interest rate .13% to 2.97% |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Initial Value Annual Gain (Loss) Value at 12/31/09 2010 Gain (Loss) Value at 12/31/10 2011 Gain (Loss) Value at 12/31/2011 2012 Gain (Loss) Value at12/31/2012 2013 Gain (Loss) Value at12/31/2013 2014 Gain (Loss) Value at 12/31/2014 January 1, 2009 adoption $ 479,910 $ (390,368 ) $ 870,278 $ 868,772 $ 1,506 $ (88,290 ) $ 89,796 $ (21,856 ) $ 111,652 $ 100,053 $ 11,599 $ 11,599 $ - Warrants issued in quarter ended 6/30/2009 169,854 20,847 149,007 147,403 1,604 (4,689 ) 6,293 6,293 - - - - - Warrants issued in quarter ended 9/30/2009 39,743 (738 ) 40,481 40,419 62 (1,562 ) 1,624 910 714 714 - - - Warrants issued in quarter ended 12/31/2009 12,698 617 12,081 12,053 28 (724 ) 752 415 337 337 - - - Subtotal 702,205 1,071,847 Warrants issued in quarter ended 3/31/2010 25,553 25,014 539 (5,570 ) 6,109 3,701 2,408 2,408 - - - Warrants issued in quarter ended 6/30/2010 31,332 30,740 592 (6,122 ) 6,714 6,083 631 631 - - - Warrants issued in quarter ended 9/30/2010 31,506 20,891 10,615 (44,160 ) 54,775 1,338 53,437 53,437 - - - Total $ 790,596 $ (369,642 ) $ 1,071,847 $ 1,145,292 $ 14,946 $ (151,117 ) $ 166,063 $ (3,116 ) $ 169,179 $ 157,580 $ 11,599 $ 11,599 $ - |
Note 1 - Summary of Significa27
Note 1 - Summary of Significant Accounting Policies (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 165 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | Sep. 30, 2015 | Nov. 30, 2014 | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||
Common Stock, Shares, Outstanding (in Shares) | 5,203,428 | 5,203,428 | 5,203,428 | ||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||
Stockholders' Equity, Period Increase (Decrease) | $ 22,723,061 | ||||||
Stock Issued During Period, Value, New Issues | $ 13,060,880 | $ 2,055,001 | |||||
Debt Instrument, Increase (Decrease), Net | 5,685,000 | ||||||
Advertising Expense | $ 500 | $ 4,201 | 1,917 | $ 11,994 | |||
Research and Development Expense | 58,792 | 72,294 | 179,739 | 321,929 | |||
Amortization of Intangible Assets | $ 1,632 | $ 0 | $ 4,520 | $ 0 | |||
IPO [Member] | |||||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||
Stock Issued During Period, Value, New Issues | 13,555,003 | ||||||
Series A Convertible Preferred Stock [Member] | Private Placement [Member] | |||||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||
Stock Issued During Period, Value, New Issues | $ 2,055,000 | ||||||
Earliest Tax Year [Member] | |||||||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||||||
Open Tax Year | 2,011 |
Note 1 - Summary of Significa28
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Inventory - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Schedule of Inventory [Abstract] | ||
Finished goods | $ 46,208 | $ 88,362 |
Raw materials | 182,994 | 237,556 |
Work-In-Process | 7,688 | 41,449 |
Total | $ 236,890 | $ 367,367 |
Note 1 - Summary of Significa29
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment, Useful Life | 9 Months Ended |
Sep. 30, 2015 | |
Leasehold Improvements [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment, Useful Life [Line Items] | |
Property, plant, and equipment, useful life | 5 years |
Demo Equipment [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment, Useful Life [Line Items] | |
Property, plant, and equipment, useful life | 3 years |
Minimum [Member] | Office Equipment [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment, Useful Life [Line Items] | |
Property, plant, and equipment, useful life | 3 years |
Minimum [Member] | Manufacturing Tooling [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment, Useful Life [Line Items] | |
Property, plant, and equipment, useful life | 3 years |
Maximum [Member] | Office Equipment [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment, Useful Life [Line Items] | |
Property, plant, and equipment, useful life | 7 years |
Maximum [Member] | Manufacturing Tooling [Member] | |
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment, Useful Life [Line Items] | |
Property, plant, and equipment, useful life | 7 years |
Note 1 - Summary of Significa30
Note 1 - Summary of Significant Accounting Policies (Details) - Schedule of Property, Plant and Equipment - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Property, Plant, and Equipment Gross | $ 252,025 | $ 275,446 |
Less: Accumulated depreciation | 125,455 | 78,967 |
Total Fixed Assets, Net | 126,570 | 196,479 |
Office Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant, and Equipment Gross | 121,901 | 123,708 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant, and Equipment Gross | 23,874 | 23,874 |
Manufacturing Tooling [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant, and Equipment Gross | 97,288 | 97,288 |
Demo Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, Plant, and Equipment Gross | $ 8,962 | $ 30,576 |
Note 2 _ Development Stage Op31
Note 2 – Development Stage Operations (Details) - $ / shares | Sep. 30, 2015 | Dec. 31, 2009 |
Note 2 – Development Stage Operations (Details) [Line Items] | ||
Common Stock, Shares, Issued | 5,203,428 | |
Share Price | $ 26.25 | |
Common Stock [Member] | ||
Note 2 – Development Stage Operations (Details) [Line Items] | ||
Share Price | $ 125.25 |
Note 3 _ Stockholders_ Defici32
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) | Aug. 31, 2015USD ($)$ / sharesshares | Aug. 25, 2015USD ($)$ / sharesshares | Sep. 14, 2014 | Jun. 30, 2014$ / sharesshares | Nov. 06, 2012shares | Jun. 30, 2015$ / sharesshares | Mar. 31, 2015$ / sharesshares | Jan. 31, 2015$ / sharesshares | Dec. 31, 2014$ / sharesshares | Nov. 30, 2014$ / sharesshares | Sep. 30, 2014$ / sharesshares | Aug. 31, 2014$ / sharesshares | Jun. 30, 2014$ / sharesshares | Mar. 31, 2014$ / sharesshares | Jan. 31, 2014USD ($)$ / shares | Mar. 31, 2014USD ($)$ / sharesshares | Aug. 31, 2015$ / sharesshares | Sep. 30, 2015USD ($)$ / sharesshares | Sep. 30, 2014USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / sharesshares | Dec. 31, 2009 | Dec. 31, 2014$ / sharesshares | Jul. 24, 2015shares | Sep. 09, 2014$ / sharesshares | Jul. 31, 2014$ / sharesshares | Feb. 28, 2014$ / sharesshares | Feb. 04, 2014$ / sharesshares | Sep. 10, 2013shares | Apr. 15, 2013shares | Jan. 15, 2013shares | Sep. 07, 2011shares | Jun. 22, 2010shares |
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,666,667 | 20,833 | 13,700 | |||||||||||||||||||||||||||||
Shares Issued, Price Per Share (in Dollars per share) | $ / shares | $ 9 | |||||||||||||||||||||||||||||||
Underwriter Price (in Dollars per share) | $ / shares | 8.28 | |||||||||||||||||||||||||||||||
Underwriting Discount (in Dollars per share) | $ / shares | $ 0.72 | |||||||||||||||||||||||||||||||
Underwriting Commission | 8.00% | |||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity (in Dollars) | $ | $ 13,800,000 | |||||||||||||||||||||||||||||||
Option Granted to Underwriter to Purchase Additional Units, Period | 45 days | |||||||||||||||||||||||||||||||
Option Granted to Underwriter to Purchase Additional Units, Number of Units Granted | 250,000 | |||||||||||||||||||||||||||||||
Option Granted to Underwriter to Purchase Additional Units, Additional Units Purchased | 0 | |||||||||||||||||||||||||||||||
Underwriting Agreement, Non-accountable Expense Allowance, Percentage | 1.00% | |||||||||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares | $ 0.01 | $ 0.01 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 11.25 | $ 11.25 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 21,538 | 21,538 | ||||||||||||||||||||||||||||||
Unit Purchase Option, Units Issued | 1,895,010 | |||||||||||||||||||||||||||||||
Cashless Exercise Of Common Stock Warrants Total | 3,333 | |||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues (in Dollars) | $ | $ 13,060,880 | $ 2,055,001 | ||||||||||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.00% | 6.00% | ||||||||||||||||||||||||||||||
Conversion Of Stock Price Per Share (in Dollars per share) | $ / shares | $ 19.50 | |||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Preferred Stock Conversion | 1,561 | 970 | ||||||||||||||||||||||||||||||
Number of Preferred Stock Shareholders | 16 | 16 | 16 | 16 | ||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 3,725 | 4,444 | ||||||||||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares | $ 19.50 | $ 19.50 | ||||||||||||||||||||||||||||||
Percentage Reduction to Number of Warrants | 11.00% | 11.00% | 11.00% | |||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.37% | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | |||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 59.00% | 59.00% | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 66.00% | 66.00% | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 6 months | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 504,788 | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 6.20 | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 6 years 58 days | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Warrants Vested and Exercisable | 500,837 | |||||||||||||||||||||||||||||||
Allocated Share-based Compensation Expense (in Dollars) | $ | $ 320,334 | $ 440,117 | ||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | $ | $ 38,065 | |||||||||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 5 months | |||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 100,000,000 | 4,000,000 | 2,666,667 | 1,066,067 | ||||||||||||||||||||||||||||
Shares Grants Increase For Threshold | 266,667 | |||||||||||||||||||||||||||||||
Preferred Stock, Shares Authorized | 20,000,000 | |||||||||||||||||||||||||||||||
Chief Executive Officer [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Stock Options Exercised (in Dollars) | $ | $ 4,336 | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 1.25 | |||||||||||||||||||||||||||||||
Dr. Samuel Herschkowitz [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 20.25 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,482 | |||||||||||||||||||||||||||||||
Two Lenders [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 12.38 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 28,986 | |||||||||||||||||||||||||||||||
Purchasers [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 24.38 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 61,539 | |||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 3,121 | 3,121 | 3,122 | 1,559 | 1,561 | |||||||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.00% | 6.00% | 6.00% | 6.00% | ||||||||||||||||||||||||||||
Conversion Of Stock Price Per Share (in Dollars per share) | $ / shares | $ 9.75 | $ 9.75 | $ 9.75 | |||||||||||||||||||||||||||||
Number of Preferred Stock Shareholders | 16 | 16 | 16 | 16 | 16 | 16 | 16 | 16 | ||||||||||||||||||||||||
Maximum Number of Days Not Listed on Stock Market | 180 days | |||||||||||||||||||||||||||||||
Preferred Stock Conversion Price, Per Share (in Dollars per share) | $ / shares | $ 19.50 | $ 19.50 | $ 19.50 | |||||||||||||||||||||||||||||
Four Lenders [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 12.38 | $ 12.38 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 37,440 | 37,440 | ||||||||||||||||||||||||||||||
Series B Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Beneficial Ownership Limitation, Percentage | 4.99% | |||||||||||||||||||||||||||||||
(in Dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | 1 | ||||||||||||||||||||||||||||||
Percentage of Outstanding Voting Stock Held After Consolidation or Merger | 50.00% | 50.00% | ||||||||||||||||||||||||||||||
Percentage of Outstanding Voting Stock Held, Accepted Offer | 50.00% | 50.00% | ||||||||||||||||||||||||||||||
Percentage of Outstanding Voting Stock Held, Consumate Stock Purchase Agreement | 50.00% | 50.00% | ||||||||||||||||||||||||||||||
Percentage of Issued and Outstanding Voting Stock Held | 50.00% | 50.00% | ||||||||||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 1,895,010 | 0 | 0 | ||||||||||||||||||||||||||||
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||||||||||||||||||||
Series A Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||||||||||||
(in Dollars per share) | $ / shares | 0.01 | 0.01 | 0.01 | 0.01 | $ 0.01 | |||||||||||||||||||||||||||
(in Dollars per share) | $ / shares | $ 100 | $ 100 | $ 100 | $ 100 | $ 100 | |||||||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 20,550 | 0 | 20,550 | 20,550 | ||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 | 100,000,000 | 100,000,000 | ||||||||||||||||||||||||||||
Preferred Stock, Shares Authorized | 20,000,000 | 20,000,000 | 20,000,000 | 20,000,000 | ||||||||||||||||||||||||||||
Series A Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 20,550 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 24.38 | $ 24.38 | ||||||||||||||||||||||||||||||
Preferred Stock, Shares Outstanding | 0 | 0 | ||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues (in Dollars) | $ | $ 2,055,000 | |||||||||||||||||||||||||||||||
Convertible Common Stock [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 1,895,010 | |||||||||||||||||||||||||||||||
The Convertible Notes [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Debt Instrument, Principal Redemption Amount (in Dollars) | $ | $ 933,074 | |||||||||||||||||||||||||||||||
Debt Instrument, Redemption Premium, Percentage | 40.00% | |||||||||||||||||||||||||||||||
Debt Instrument, Redemption Price (in Dollars) | $ | $ 1,548,792 | $ 1,500,000 | ||||||||||||||||||||||||||||||
Debt Instrument, Redemption Amount Paid To Affiliates (in Dollars) | $ | $ 167,031 | $ 167,031 | ||||||||||||||||||||||||||||||
Exchange Units [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Unit Purchase Option, Units Issued | 228,343 | |||||||||||||||||||||||||||||||
Unit Purchase Option, Units Sold | 1,666,667 | |||||||||||||||||||||||||||||||
Exchange Units [Member] | Series B Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 1,895,010 | |||||||||||||||||||||||||||||||
Corporate Stock Transfer, Inc. [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Unit Agreement, Number of Shares of Common Stock Included in Each Unit | 1 | 1 | ||||||||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ / shares | $ 0.01 | $ 0.01 | ||||||||||||||||||||||||||||||
Unit Agreement, Period after Which the Units Will Automatically Separate | 6 months | |||||||||||||||||||||||||||||||
Unit Agreement, Early Separation of Units, Trading Separation Trigger, Stock Price as Percentage of the Series a Warrants Exercise Price | 200.00% | |||||||||||||||||||||||||||||||
Unit Agreement, Early Separation of Units, Trading Separation Trigger, Number of Trading Days for Which the Company's Common Stock Price Exceeds a Specified Percentage of the Series A Warrants Exercise Price | 20 days | |||||||||||||||||||||||||||||||
Unit Agreement, Early Separation of Units, Period of Time Following the Trading Separation Trigger after Which the Units will Separate | 15 days | |||||||||||||||||||||||||||||||
Series B Convertible Preferred Stock Term | 6 months | |||||||||||||||||||||||||||||||
Corporate Stock Transfer, Inc. [Member] | Series B Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Unit Agreement, Number of Shares of Preferred Stock Included in Each Unit | 1 | 1 | ||||||||||||||||||||||||||||||
Corporate Stock Transfer, Inc. [Member] | Exchange Units [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Unit Purchase Option, Number of Units Available for Underwriter to Purchase, Percentage | 5.00% | 5.00% | ||||||||||||||||||||||||||||||
Unit Purchase Option, Number of Units Available for Underwriter to Purchase | 83,333 | 83,333 | ||||||||||||||||||||||||||||||
Unit Purchase Option, Exercise Price, Percentage | 125.00% | 125.00% | ||||||||||||||||||||||||||||||
Unit Purchase Option, Exercise Price (in Dollars per share) | $ / shares | $ 11.25 | $ 11.25 | ||||||||||||||||||||||||||||||
Unit Purchase Option, Units Issued | 228,343 | |||||||||||||||||||||||||||||||
Warrant [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Cashless Exercise Of Common Stock Warrants Total | 15,442 | |||||||||||||||||||||||||||||||
Underwriting Agreement [Member] | Exchange Units [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Option Granted to Underwriter to Purchase Additional Units, Number of Units Granted | 250,000 | |||||||||||||||||||||||||||||||
Unit Purchase Option [Member] | Exchange Units [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Option Granted to Underwriter to Purchase Additional Units, Number of Units Granted | 83,333 | |||||||||||||||||||||||||||||||
Stock Incentive Plan 2012 [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 1,333,334 | 666,667 | ||||||||||||||||||||||||||||||
SOK Partners LLC [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 12.38 | $ 12.38 | $ 12.38 | |||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 5,431 | 5,431 | 4,831 | |||||||||||||||||||||||||||||
Percentage of Reduction to Warrant Agreement | 11.00% | |||||||||||||||||||||||||||||||
Series A Warrants [Member] | Exchange Units [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 7,580,040 | |||||||||||||||||||||||||||||||
Series A Warrants [Member] | Corporate Stock Transfer, Inc. [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Unit Agreement, Number of Warrants Included in Each Unit | 4 | 4 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Condition under Which the Warrants Are Exercisable upon the Separation of Units, Period Following the Issuance Date after Which the Unit May Be Exercised for Cash | 30 days | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | 1 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ / shares | $ 4.95 | $ 4.95 | ||||||||||||||||||||||||||||||
Cashless Exercise Formula, Definition of Letter "C" in the Formula, Closing Bid Price, Number of Trading Days Prior to the Time of Exercise | 2 | |||||||||||||||||||||||||||||||
Cashless Exercise Formula, Closing Bid Price Per Share, Minimum to Be Used in the Formula (in Dollars per share) | $ / shares | $ 0.43 | $ 0.43 | ||||||||||||||||||||||||||||||
Black Scholes Value, Value of an Option, Number of Shares of Common Stock for Each Option | 1 | 1 | ||||||||||||||||||||||||||||||
Black Scholes Value, Underlying Price Per Share, Percentage of Unit Price | 55.00% | 55.00% | ||||||||||||||||||||||||||||||
Fair Value Assumptions, Exercise Price (in Dollars per share) | $ / shares | $ 4.95 | $ 4.95 | ||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Volatility Rate | 135.00% | |||||||||||||||||||||||||||||||
Fair Value Assumptions, Expected Term | 5 years | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Cashless Exercise Feature, Floor Price (in Dollars per share) | $ / shares | $ 0.43 | 0.43 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Issued During Period | 7,580,040 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Cashless Exercise, Common Stock Price that Would Result in a Dilutive Exercise (in Dollars per share) | $ / shares | $ 0.43 | $ 0.43 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Black Scholes Value of Common Stock That Would Be Issued in a Dilutive Exercise (in Dollars per share) | $ / shares | $ 4.326 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Cashless Exercise, Number of Common Stock that Would Be Issued in a Dilutive Exercise | 76,300,000 | |||||||||||||||||||||||||||||||
Beneficial Ownership Limitation, Percentage | 4.99% | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Period Over Which Additional Adjustments to Price and Number of Shares May Be Made | 3 years | |||||||||||||||||||||||||||||||
Exchange Units [Member] | Series A Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 84,770 | |||||||||||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||||||||||||||||||||||||
Underwriting Agreement, Expenses Agreed to Reimburse the Underwriter (in Dollars) | $ | $ 70,000 | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.35% | 2.75% | 2.97% | |||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years | 6 years 6 months | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 5.5695 | $ 13.9195 | ||||||||||||||||||||||||||||||
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term | 10 years | |||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 10,666,667 | |||||||||||||||||||||||||||||||
Maximum [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 24.375 | |||||||||||||||||||||||||||||||
Minimum [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 3 years | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.63% | 1.44% | 0.13% | |||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | 5 years | 2 years | |||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 0.2750 | $ 3.2006 | ||||||||||||||||||||||||||||||
Common Stock, Shares Authorized | 4,000,000 | |||||||||||||||||||||||||||||||
Minimum [Member] | Warrant [Member] | ||||||||||||||||||||||||||||||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) [Line Items] | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 0.75 |
Note 3 _ Stockholders_ Defici33
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Transactions for Stock Options and Warrants - $ / shares | 1 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2014 | Mar. 31, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | |
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Transactions for Stock Options and Warrants [Line Items] | ||||
Number of Shares Exercised | 3,725 | 4,444 | ||
Number of Shares Outstanding | 8,080,877 | |||
Warrant [Member] | ||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Transactions for Stock Options and Warrants [Line Items] | ||||
Number of Shares Outstanding | 500,722 | 461,920 | ||
Average Exercise Price Outstanding | $ 7.95 | $ 10.50 | ||
Number of Shares Issued | 7,581,722 | 161,375 | ||
Average Exercise Price Issued | $ 4.95 | $ 3.81 | ||
Number of Shares Expired | (1,567) | (81,851) | ||
Average Exercise Price Expired | $ 14.04 | $ 13.54 | ||
Number of Shares Exercised | (40,722) | |||
Average Exercise Price Exercised | $ 8.38 | |||
Number of Shares Outstanding | 8,080,877 | |||
Number of Shares Outstanding | 8,080,877 | 500,722 | ||
Average Exercise Price Outstanding | $ 5.14 | $ 7.95 | ||
Employee Stock Option [Member] | ||||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Transactions for Stock Options and Warrants [Line Items] | ||||
Number of Shares Outstanding | 448,601 | 385,733 | ||
Average Exercise Price Outstanding | $ 7.51 | $ 6.75 | ||
Number of Shares Issued | 73,158 | 75,683 | ||
Average Exercise Price Issued | $ 3.14 | $ 8.12 | ||
Number of Shares Expired | (13,804) | (7,879) | ||
Average Exercise Price Expired | $ 13.71 | $ 23.58 | ||
Number of Shares Exercised | (4,936) | |||
Average Exercise Price Exercised | $ 1.76 | |||
Number of Shares Outstanding | 507,955 | 448,601 | ||
Average Exercise Price Outstanding | $ 6.82 | $ 7.51 |
Note 3 _ Stockholders_ Defici34
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2009 | |
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Shares | 8,080,877 | |
Weighted Remaining Life | 2 years 6 months | |
Stock Options One [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 0.75 | |
Shares | 7,333 | |
Weighted Remaining Life | 5 years 281 days | |
Stock Options Two [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 3.10 | |
Shares | 59,681 | |
Weighted Remaining Life | 9 years 277 days | |
Stock Options Three [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 3.21 | |
Shares | 6,232 | |
Weighted Remaining Life | 10 years | |
Stock Options Four [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 3.45 | |
Shares | 7,245 | |
Weighted Remaining Life | 9 years 186 days | |
Stock Options Five [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 4.875 | |
Shares | 134 | |
Weighted Remaining Life | 7 years 164 days | |
Stock Options Six [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 5.25 | |
Shares | 2,031 | |
Weighted Remaining Life | 6 years 343 days | |
Stock Options Seven [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 5.625 | |
Shares | 192,000 | |
Weighted Remaining Life | 7 years 167 days | |
Stock Options Eight [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 5.925 | |
Shares | 23,206 | |
Weighted Remaining Life | 7 years 171 days | |
Stock Options Nine [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 6 | |
Shares | 123,998 | |
Weighted Remaining Life | 6 years 321 days | |
Stock Option Ten [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 6.50 | |
Shares | 3,845 | |
Weighted Remaining Life | 9 years 94 days | |
Stock Option Eleven [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 6.60 | |
Shares | 5,332 | |
Weighted Remaining Life | 6 years 116 days | |
Stock Option Twelve [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 8.25 | |
Shares | 3,636 | |
Weighted Remaining Life | 9 years 3 days | |
Stock Options Thirteen [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 9.9375 | |
Shares | 3,019 | |
Weighted Remaining Life | 7 years 288 days | |
Stock Options Fourteen [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 10.50 | |
Shares | 3,238 | |
Weighted Remaining Life | 7 years 288 days | |
Stock Options Fifteen [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 11.25 | |
Shares | 13,666 | |
Weighted Remaining Life | 7 years 127 days | |
Stock Options Sixteen [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 12.75 | |
Shares | 67 | |
Weighted Remaining Life | 7 years 222 days | |
Stock Options Seventeen [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 13.875 | |
Shares | 2,160 | |
Weighted Remaining Life | 8 years 186 days | |
Stock Options Eighteen [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 17.25 | |
Shares | 40,261 | |
Weighted Remaining Life | 8 years 160 days | |
Stock Options Nineteen [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 18.75 | |
Shares | 3,334 | |
Weighted Remaining Life | 8 years 146 days | |
Stock Options Twenty [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 20.25 | |
Shares | 4,940 | |
Weighted Remaining Life | 8 years 94 days | |
Stock Options Twenty One [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 21.75 | |
Shares | 1,336 | |
Weighted Remaining Life | 8 years 7 days | |
Stock Options Twenty Two [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 23.85 | |
Shares | 1,260 | |
Weighted Remaining Life | 8 years 3 days | |
Stock Options [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Shares | 507,955 | |
Warrant One [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 0.75 | |
Shares | 400 | |
Weighted Remaining Life | 69 days | |
Warrant Two [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 4.95 | |
Shares | 7,580,040 | |
Weighted Remaining Life | 4 years 335 days | |
Warrant Three [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 6 | |
Shares | 102,857 | |
Weighted Remaining Life | 2 years 164 days | |
Warrant Four [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 9 | |
Shares | 2,666 | |
Weighted Remaining Life | 2 years 116 days | |
Warrant Five [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 9.75 | |
Shares | 63,227 | |
Weighted Remaining Life | 3 years 310 days | |
Warrant Six [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 11.25 | |
Shares | 203,801 | |
Weighted Remaining Life | 2 years 98 days | |
Warrant Seven [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 12.375 | |
Shares | 71,257 | |
Weighted Remaining Life | 3 years 313 days | |
Warrant Eight [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 12.38 | |
Shares | 5,557 | |
Weighted Remaining Life | 4 years 40 days | |
Warrant Nine [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 13.50 | |
Shares | 4,444 | |
Weighted Remaining Life | 2 years 262 days | |
Warrant Ten [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 14.85 | |
Shares | 23,612 | |
Weighted Remaining Life | 2 years 240 days | |
Warrant Eleven [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 20.25 | |
Shares | 1,481 | |
Weighted Remaining Life | 3 years 138 days | |
Warrant Twelve [Member] | ||
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Summary of Status of Options and Warrants Outstanding [Line Items] | ||
Range of Price (in Dollars per share) | $ 24.375 | |
Shares | 21,535 | |
Weighted Remaining Life | 3 years 127 days |
Note 3 _ Stockholders_ Defici35
Note 3 – Stockholders’ Deficit, Stock Options and Warrants (Details) - Schedule of Listing of Stock Options and Warrants - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2015 | Dec. 31, 2014 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 8,080,877 | |
Warrants 2010 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 400 | |
Price | $ 0.75 | |
Warrants 2012 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 69,801 | |
Price | $ 11.25 | |
Warrants 2013 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 267,579 | |
Warrants 2014 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 161,375 | |
Warrants 2015 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 7,581,722 | |
Warrant [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 8,080,877 | |
Stock Options 2011 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 11,666 | |
Price | $ 0.75 | |
Stock Options 2012 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 126,029 | |
Stock Options 2013 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 238,088 | |
Stock Options 2014 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 59,013 | |
Stock Options 2015 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 73,158 | |
Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Shares (in Shares) | 507,955 | |
Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | $ 0.2750 | $ 3.2006 |
Minimum [Member] | Warrants 2013 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 6 | |
Minimum [Member] | Warrants 2014 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 12.375 | |
Minimum [Member] | Warrants 2015 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 4.95 | |
Minimum [Member] | Warrant [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 0.75 | |
Minimum [Member] | Stock Options 2012 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 5.25 | |
Minimum [Member] | Stock Options 2013 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 4.875 | |
Minimum [Member] | Stock Options 2014 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 6.50 | |
Minimum [Member] | Stock Options 2015 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 3.10 | |
Minimum [Member] | Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 0.75 | |
Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 5.5695 | $ 13.9195 |
Maximum [Member] | Warrants 2013 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 14.85 | |
Maximum [Member] | Warrants 2014 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 24.375 | |
Maximum [Member] | Warrants 2015 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 9.75 | |
Maximum [Member] | Warrant [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 24.375 | |
Maximum [Member] | Stock Options 2012 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 6 | |
Maximum [Member] | Stock Options 2013 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 25.613 | |
Maximum [Member] | Stock Options 2014 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 18.75 | |
Maximum [Member] | Stock Options 2015 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | 3.45 | |
Maximum [Member] | Stock Options [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||
Price | $ 25.613 |
Note 4 - Short-term Notes Pay36
Note 4 - Short-term Notes Payable (Details) - USD ($) | Aug. 31, 2015 | May. 31, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Jun. 30, 2015 | Sep. 09, 2014 | Jul. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 |
Note 4 - Short-term Notes Payable (Details) [Line Items] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 21,538 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 11.25 | ||||||||
Percentage Reduction to Number of Warrants | 11.00% | 11.00% | |||||||
The 2014 Convertible Notes [Member] | |||||||||
Note 4 - Short-term Notes Payable (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 1,800,000 | ||||||||
DebtInstrumentReducedFaceAmount | 1,600,000 | $ 1,603,260 | |||||||
Proceeds from Convertible Debt | 1,475,000 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 71,257 | ||||||||
Percentage Reduction to Debt Instrument, Face Amount | 11.00% | ||||||||
Percentage Reduction to Number of Warrants | 11.00% | ||||||||
The 2015 Convertible Notes [Member] | |||||||||
Note 4 - Short-term Notes Payable (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 275,000 | ||||||||
Proceeds from Convertible Debt | $ 250,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 0 | ||||||||
The Convertible Notes [Member] | |||||||||
Note 4 - Short-term Notes Payable (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | $ 933,073 | ||||||||
Debt Conversion, Converted Instrument, Amount | $ 927,663 | ||||||||
Debt Instrument, Redemption Price, Percentage | 140.00% | ||||||||
Debt Instrument, Principal Redemption Amount | $ 933,074 | ||||||||
Debt Instrument, Redemption Premium, Percentage | 40.00% | ||||||||
Debt Instrument, Redemption Price | $ 1,548,792 | $ 1,500,000 | |||||||
Debt Instrument, Redemption Amount Paid To Affiliates | $ 167,031 | 167,031 | |||||||
Short-term Debt | $ 0 | ||||||||
SOK Partners LLC [Member] | |||||||||
Note 4 - Short-term Notes Payable (Details) [Line Items] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 4,831 | 5,431 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 12.38 | $ 12.38 | |||||||
SOK Partners LLC [Member] | The 2014 Convertible Notes [Member] | |||||||||
Note 4 - Short-term Notes Payable (Details) [Line Items] | |||||||||
Debt Instrument, Face Amount | 122,196 | ||||||||
Proceeds from Convertible Debt | $ 100,000 | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 5,431 |
Note 5 - Loss Per Share (Detail
Note 5 - Loss Per Share (Details) - shares | 9 Months Ended | |
Sep. 30, 2015 | Sep. 30, 2014 | |
Options and Warrants [Member] | ||
Note 5 - Loss Per Share (Details) [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 8,588,832 | 945,220 |
Series B Convertible Preferred Stock [Member] | ||
Note 5 - Loss Per Share (Details) [Line Items] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,895,010 |
Note 5 - Loss Per Share (Deta38
Note 5 - Loss Per Share (Details) - Shares Used in Basic and Diluted Loss Per Common Share Computations - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | ||
Numerator: | ||||||
Net loss available in basic and diluted calculation (in Dollars) | $ (1,116,402) | $ (1,115,221) | $ (2,527,524) | $ (4,468,170) | $ (6,833,568) | |
Denominator: | ||||||
Weighted average common shares outstanding-basic | 3,936,126 | 2,984,335 | 3,435,700 | 2,967,483 | ||
Loss per common share basic and diluted (in Dollars per share) | $ (0.28) | $ (0.37) | $ (0.74) | $ (1.51) | ||
Effect of diluted stock options and warrants (1) | [1] | |||||
[1] | The number of shares underlying options and warrants outstanding as of September 30, 2015 and September 30, 2014 are 8,588,832 and 945,220 respectively. The number of underlying Series B preferred shares outstanding is 1,895,010. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss pershare because those shares are anti-dilutive. |
Note 6 - Income Taxes (Details)
Note 6 - Income Taxes (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2015USD ($) | |
Note 6 - Income Taxes (Details) [Line Items] | |
Valuation Allowance Percentage | 100.00% |
Domestic Tax Authority [Member] | |
Note 6 - Income Taxes (Details) [Line Items] | |
Operating Loss Carryforwards | $ 22.3 |
Operating Loss Carryforwards, Valuation Allowance | 9.5 |
State and Local Jurisdiction [Member] | |
Note 6 - Income Taxes (Details) [Line Items] | |
Operating Loss Carryforwards | 12.5 |
Operating Loss Carryforwards, Valuation Allowance | $ 0.4 |
Note 6 - Income Taxes (Detail40
Note 6 - Income Taxes (Details) - Components of Deferred Income Taxes - USD ($) | Sep. 30, 2015 | Dec. 31, 2014 |
Deferred Tax Asset: | ||
Net Operating Loss | $ 9,307,000 | $ 7,919,000 |
Other | 628,000 | 1,150,000 |
Total Deferred Tax Asset | 9,935,000 | 9,069,000 |
Less Valuation Allowance | 9,935,000 | 9,069,000 |
Net Deferred Income Taxes | $ 0 | $ 0 |
Note 7 _ Rent Obligation (Detai
Note 7 – Rent Obligation (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Leases [Abstract] | ||||
Lessee Leasing Arrangements, Operating Leases, Terms of Contract Cancellation | 3 years | |||
Lessee Leasing Arrangements, Operating Leases, Extension Term | 5 years | |||
Operating Leases, Rent Expense | $ 15,900 | $ 15,719 | $ 50,156 | $ 46,321 |
Lessor Leasing Arrangements, Operating Leases, Term of Contract | 5 years |
Note 7 _ Rent Obligation (Det42
Note 7 – Rent Obligation (Details) - Rent Obligation | Sep. 30, 2015USD ($) |
Rent Obligation [Abstract] | |
2,015 | $ 9,250 |
2,016 | 38,000 |
2,017 | 39,000 |
2,018 | $ 3,600 |
Note 8 _ Liability for Equity43
Note 8 – Liability for Equity-Linked Financial Instruments (Details) - USD ($) | 9 Months Ended | 12 Months Ended | 72 Months Ended | ||
Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2009 | Dec. 31, 2014 | Dec. 31, 2010 | |
Note 8 – Liability for Equity-Linked Financial Instruments (Details) [Line Items] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 2 years 6 months | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 63.00% | 59.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Exercise Price (in Dollars per share) | $ 34.50 | ||||
Share Price (in Dollars per share) | $ 26.25 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.37% | ||||
Share Price Reduction | $ 37.50 | $ 16.50 | |||
Decrease In Equity Caused By Adoption of ASC 815 [Member] | |||||
Note 8 – Liability for Equity-Linked Financial Instruments (Details) [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 479,910 | ||||
Decrease In Additional Paid In Capital Caused By Adoption Of ASC 815 [Member] | |||||
Note 8 – Liability for Equity-Linked Financial Instruments (Details) [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 486,564 | ||||
Increase In Retained Earnings Caused By Adoption Of ASC 815 [Member] | |||||
Note 8 – Liability for Equity-Linked Financial Instruments (Details) [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | 6,654 | ||||
Increase In Liabilities Caused By Adoption Of ASC 815 [Member] | |||||
Note 8 – Liability for Equity-Linked Financial Instruments (Details) [Line Items] | |||||
New Accounting Pronouncement or Change in Accounting Principle, Effect of Adoption, Quantification | $ 479,910 | ||||
Derivative Liability | $ 0 | $ 0 |
Note 8 _ Liability for Equity44
Note 8 – Liability for Equity-Linked Financial Instruments (Details) - Inputs to Black-Scholes Model - $ / shares | 9 Months Ended | 12 Months Ended | 72 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2009 | Dec. 31, 2014 | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Stock price | $ 26.25 | |||
Exercise price | $ 34.50 | |||
Expected life (years) | 2 years 6 months | |||
Expected volatility | 63.00% | 59.00% | ||
Risk-free interest rate | 1.37% | |||
Minimum [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Stock price | $ 3.75 | $ 3.75 | ||
Exercise price | $ 0.75 | $ 0.75 | ||
Expected life (years) | 5 years | 5 years | 2 years | |
Risk-free interest rate | 1.63% | 1.44% | 0.13% | |
Maximum [Member] | ||||
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Line Items] | ||||
Stock price | $ 37.50 | $ 37.50 | ||
Exercise price | $ 25.613 | $ 25.613 | ||
Expected life (years) | 10 years | 6 years 6 months | ||
Risk-free interest rate | 2.35% | 2.75% | 2.97% |
Note 8 _ Liability for Equity45
Note 8 – Liability for Equity-Linked Financial Instruments (Details) - Original Valuations, Annual Gain (Loss) and End of Year Valuations - USD ($) | 12 Months Ended | ||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | |
Class of Warrant or Right [Line Items] | |||||||
Total | $ 790,596 | ||||||
Gain Loss 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | $ (369,642) | ||||||
Total | (369,642) | ||||||
Value At 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Total | 1,071,847 | ||||||
Gain Loss 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | $ 1,145,292 | ||||||
Total | 1,145,292 | ||||||
Value At 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Total | 14,946 | ||||||
Gain Loss 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | $ (151,117) | ||||||
Total | (151,117) | ||||||
Value At 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Total | 166,063 | ||||||
Gain Loss 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | $ (3,116) | ||||||
Total | (3,116) | ||||||
Value At 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Total | 169,179 | ||||||
Gain Loss 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | $ 157,580 | ||||||
Total | 157,580 | ||||||
Value At 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Total | 11,599 | ||||||
Gain Loss 2014 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | $ 11,599 | ||||||
Total | 11,599 | ||||||
January 1, 2009 Adoption [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 479,910 | ||||||
January 1, 2009 Adoption [Member] | Gain Loss 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (390,368) | ||||||
Total | (390,368) | ||||||
January 1, 2009 Adoption [Member] | Value At 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 870,278 | ||||||
January 1, 2009 Adoption [Member] | Gain Loss 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 868,772 | ||||||
Total | 868,772 | ||||||
January 1, 2009 Adoption [Member] | Value At 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 1,506 | ||||||
January 1, 2009 Adoption [Member] | Gain Loss 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (88,290) | ||||||
Total | (88,290) | ||||||
January 1, 2009 Adoption [Member] | Value At 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 89,796 | ||||||
January 1, 2009 Adoption [Member] | Gain Loss 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (21,856) | ||||||
Total | (21,856) | ||||||
January 1, 2009 Adoption [Member] | Value At 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 111,652 | ||||||
January 1, 2009 Adoption [Member] | Gain Loss 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 100,053 | ||||||
Total | 100,053 | ||||||
January 1, 2009 Adoption [Member] | Value At 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 11,599 | ||||||
January 1, 2009 Adoption [Member] | Gain Loss 2014 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 11,599 | ||||||
Total | $ 11,599 | ||||||
Issued in Quarter Ended 6/30/2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 169,854 | ||||||
Issued in Quarter Ended 6/30/2009 [Member] | Gain Loss 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 20,847 | ||||||
Total | 20,847 | ||||||
Issued in Quarter Ended 6/30/2009 [Member] | Value At 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 149,007 | ||||||
Issued in Quarter Ended 6/30/2009 [Member] | Gain Loss 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 147,403 | ||||||
Total | 147,403 | ||||||
Issued in Quarter Ended 6/30/2009 [Member] | Value At 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 1,604 | ||||||
Issued in Quarter Ended 6/30/2009 [Member] | Gain Loss 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (4,689) | ||||||
Total | (4,689) | ||||||
Issued in Quarter Ended 6/30/2009 [Member] | Value At 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 6,293 | ||||||
Issued in Quarter Ended 6/30/2009 [Member] | Gain Loss 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 6,293 | ||||||
Total | 6,293 | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 39,743 | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Gain Loss 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (738) | ||||||
Total | (738) | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Value At 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 40,481 | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Gain Loss 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 40,419 | ||||||
Total | 40,419 | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Value At 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 62 | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Gain Loss 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (1,562) | ||||||
Total | (1,562) | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Value At 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 1,624 | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Gain Loss 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 910 | ||||||
Total | 910 | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Value At 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 714 | ||||||
Warrants Issued in Quarter Ended 9/30/2009 [Member] | Gain Loss 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 714 | ||||||
Total | 714 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 12,698 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Gain Loss 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 617 | ||||||
Total | 617 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Value At 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 12,081 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Gain Loss 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 12,053 | ||||||
Total | 12,053 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Value At 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 28 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Gain Loss 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (724) | ||||||
Total | (724) | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Value At 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 752 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Gain Loss 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 415 | ||||||
Total | 415 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Value At 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 337 | ||||||
Issued in Quarter Ended 12/31/2009 [Member] | Gain Loss 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 337 | ||||||
Total | 337 | ||||||
Issued in 2009 and January 1, 2009 Adoption [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 702,205 | ||||||
Issued in 2009 and January 1, 2009 Adoption [Member] | Value At 2009 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | $ 1,071,847 | ||||||
Issued in Quarter Ended 3/31/2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 25,553 | ||||||
Issued in Quarter Ended 3/31/2010 [Member] | Gain Loss 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 25,014 | ||||||
Total | 25,014 | ||||||
Issued in Quarter Ended 3/31/2010 [Member] | Value At 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 539 | ||||||
Issued in Quarter Ended 3/31/2010 [Member] | Gain Loss 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (5,570) | ||||||
Total | (5,570) | ||||||
Issued in Quarter Ended 3/31/2010 [Member] | Value At 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 6,109 | ||||||
Issued in Quarter Ended 3/31/2010 [Member] | Gain Loss 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 3,701 | ||||||
Total | 3,701 | ||||||
Issued in Quarter Ended 3/31/2010 [Member] | Value At 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 2,408 | ||||||
Issued in Quarter Ended 3/31/2010 [Member] | Gain Loss 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 2,408 | ||||||
Total | 2,408 | ||||||
Issued in Quarter Ended 6/30/2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 31,332 | ||||||
Issued in Quarter Ended 6/30/2010 [Member] | Gain Loss 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 30,740 | ||||||
Total | 30,740 | ||||||
Issued in Quarter Ended 6/30/2010 [Member] | Value At 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 592 | ||||||
Issued in Quarter Ended 6/30/2010 [Member] | Gain Loss 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (6,122) | ||||||
Total | (6,122) | ||||||
Issued in Quarter Ended 6/30/2010 [Member] | Value At 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 6,714 | ||||||
Issued in Quarter Ended 6/30/2010 [Member] | Gain Loss 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 6,083 | ||||||
Total | 6,083 | ||||||
Issued in Quarter Ended 6/30/2010 [Member] | Value At 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | 631 | ||||||
Issued in Quarter Ended 6/30/2010 [Member] | Gain Loss 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 631 | ||||||
Total | 631 | ||||||
Issued in Quarter Ended 9/30/2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | $ 31,506 | ||||||
Issued in Quarter Ended 9/30/2010 [Member] | Gain Loss 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 20,891 | ||||||
Total | 20,891 | ||||||
Issued in Quarter Ended 9/30/2010 [Member] | Value At 2010 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | $ 10,615 | ||||||
Issued in Quarter Ended 9/30/2010 [Member] | Gain Loss 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | (44,160) | ||||||
Total | (44,160) | ||||||
Issued in Quarter Ended 9/30/2010 [Member] | Value At 2011 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | $ 54,775 | ||||||
Issued in Quarter Ended 9/30/2010 [Member] | Gain Loss 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 1,338 | ||||||
Total | 1,338 | ||||||
Issued in Quarter Ended 9/30/2010 [Member] | Value At 2012 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Value | $ 53,437 | ||||||
Issued in Quarter Ended 9/30/2010 [Member] | Gain Loss 2013 [Member] | |||||||
Class of Warrant or Right [Line Items] | |||||||
Gain (Loss) | 53,437 | ||||||
Total | $ 53,437 |
Note 9 _ Related Party Transa46
Note 9 – Related Party Transactions (Details) - USD ($) | Aug. 31, 2015 | Aug. 25, 2015 | Jul. 23, 2014 | Feb. 04, 2014 | Jan. 06, 2014 | Sep. 11, 2013 | Jun. 30, 2013 | Nov. 06, 2012 | Aug. 15, 2012 | Mar. 28, 2012 | Nov. 30, 2014 | Feb. 28, 2014 | Jan. 31, 2014 | Dec. 31, 2013 | May. 31, 2013 | Apr. 30, 2013 | Aug. 31, 2012 | May. 31, 2012 | Apr. 30, 2012 | Mar. 31, 2012 | Feb. 28, 2014 | Jun. 30, 2014 | Sep. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2015 | Sep. 09, 2014 | Mar. 31, 2014 | Dec. 31, 2012 | Aug. 14, 2012 | Jul. 14, 2012 |
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 600,000 | |||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 1,666,667 | 20,833 | 13,700 | |||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 13,060,880 | $ 2,055,001 | ||||||||||||||||||||||||||||
Additional Issue Of Common Stock Shares (in Shares) | 213,334 | |||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 13,800,000 | |||||||||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% | |||||||||||||||||||||||||||||
Repayments of Secured Debt | $ 155,000 | |||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 21,538 | |||||||||||||||||||||||||||||
The Convertible Notes [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 933,073 | |||||||||||||||||||||||||||||
Debt Instrument, Redemption Price, Percentage | 140.00% | |||||||||||||||||||||||||||||
Debt Instrument, Redemption Price | $ 1,548,792 | $ 1,500,000 | ||||||||||||||||||||||||||||
Debt Instrument, Redemption Amount Paid To Affiliates | $ 167,031 | 167,031 | ||||||||||||||||||||||||||||
In the Event of a Series of Transactions [Member] | Triggering Transaction [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Capital Raised | $ 1,000,000 | |||||||||||||||||||||||||||||
Captial Raised, Compensation | 75,000 | |||||||||||||||||||||||||||||
Going Private Transaction, Compensation | $ 200,000 | |||||||||||||||||||||||||||||
Non-convertible Gride Note [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Rate | 10.00% | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 100,000 | |||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Other (in Shares) | 20,623 | |||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 200,000 | $ 75,000 | ||||||||||||||||||||||||||||
Due to Related Parties, Proceeds from Offering, Percentage | 3.00% | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | In the Event of a Series of Transactions [Member] | Triggering Transaction [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Due to Related Parties, Proceeds from Offering, Percentage | 3.00% | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | In the Event of a Series of Transactions [Member] | Upon Consummating the Shell Merger [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 75,000 | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | In the Event of a Series of Transactions [Member] | Upon Consummating the Qualifying Financing Round [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 150,000 | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | In the Event of a Series of Transactions [Member] | Upon Consummating Underwritten Offering [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Due to Related Parties, Proceeds from Offering, Percentage | 3.00% | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | Herschkowitz Purchase Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Rate | 20.00% | |||||||||||||||||||||||||||||
Convertible Notes Payable | $ 240,000 | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | Forbearance Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 176,667 | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | Penalty Shares [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 100,000 | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | Convertible Promissory Notes [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 7.50 | |||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 13,889 | |||||||||||||||||||||||||||||
Related Party Transaction, Rate | 20.00% | |||||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 156,243 | |||||||||||||||||||||||||||||
Dr. Samual Herschkowitz [Member[ | Non-convertible Gride Note [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Notes Payable, Related Parties, Advance, Percentage | 10.00% | |||||||||||||||||||||||||||||
SOK Partners LLC [Member] | Convertible Note Purchase Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 4.88 | |||||||||||||||||||||||||||||
Related Party Transaction, Rate | 20.00% | |||||||||||||||||||||||||||||
Advance Under Note | $ 300,000 | |||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 61,539 | 61,539 | ||||||||||||||||||||||||||||
Convertible Notes Payable | $ 357,282 | |||||||||||||||||||||||||||||
SOK Partners LLC [Member] | Convertible Note Purchase Agreement [Member] | In Event of Default [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Rate | 24.00% | |||||||||||||||||||||||||||||
SOK Partners LLC [Member] | Convertible Note Purchase Agreement [Member] | In Event of Obtaining Financing From Another Source Without SOK Partners Consent [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 600,000 | |||||||||||||||||||||||||||||
SOK Partners LLC [Member] | Forbearance Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 176,667 | |||||||||||||||||||||||||||||
SOK Partners LLC [Member] | Non-convertible Gride Note [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Notes Payable, Related Parties | $ 300,000 | |||||||||||||||||||||||||||||
Proceeds from Related Party Debt | $ 250,000 | |||||||||||||||||||||||||||||
Repayments of Related Party Debt | $ 305,589.04 | |||||||||||||||||||||||||||||
SOK Partners LLC [Member] | Non-convertible Gride Note [Member] | In Event of Default [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Rate | 20.00% | |||||||||||||||||||||||||||||
SOK Partners LLC [Member] | SOK Note [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 5,431 | 4,831 | ||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 122,196 | $ 108,696 | ||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Debt and Warrants | $ 100,000 | |||||||||||||||||||||||||||||
Debt Instrument Original Issue Discount Percentage | 8.70% | |||||||||||||||||||||||||||||
Dr. Herschkowitz, APA and SOK [Member] | Forbearance Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 353,334 | |||||||||||||||||||||||||||||
Dr Herschkowitz and Sok Partners Llc [Member] | Forbearance Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 1.05 | $ 4.88 | ||||||||||||||||||||||||||||
Chief Executive Officer [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in Shares) | 52 | |||||||||||||||||||||||||||||
Preferred Stock [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 16,667 | $ 206 | ||||||||||||||||||||||||||||
Preferred Stock [Member] | Chief Executive Officer [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in Shares) | 19,231 | |||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 25,000 | |||||||||||||||||||||||||||||
Conversion of Herschkowitz Note [Member] | Dr. Samual Herschkowitz [Member[ | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 0.014 | |||||||||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 314,484 | |||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 299,509 | |||||||||||||||||||||||||||||
Conversion of SOK Note [Member] | SOK Partners LLC [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in Dollars per share) | $ 0.014 | |||||||||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 680,444 | |||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in Shares) | 648,050 | |||||||||||||||||||||||||||||
Second Advance [Member] | SOK Partners LLC [Member] | Convertible Note Purchase Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Advance Under Note | 84,657 | |||||||||||||||||||||||||||||
Cash Advance Net Of Interest | 60,000 | |||||||||||||||||||||||||||||
First Advance [Member] | SOK Partners LLC [Member] | Convertible Note Purchase Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Advance Under Note | $ 300,000 | |||||||||||||||||||||||||||||
Tranche One [Member] | SOK Partners LLC [Member] | Non-convertible Gride Note [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Proceeds from Related Party Debt | $ 20,000 | |||||||||||||||||||||||||||||
Minimum [Member] | In the Event of a Series of Transactions [Member] | Triggering Transaction [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 2,000,000 | |||||||||||||||||||||||||||||
Proceeds from Issuance Initial Public Offering | 5,000,000 | |||||||||||||||||||||||||||||
Minimum [Member] | Dr. Samual Herschkowitz [Member[ | In the Event of a Series of Transactions [Member] | Triggering Transaction [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | 200,000 | |||||||||||||||||||||||||||||
Minimum [Member] | Dr. Samual Herschkowitz [Member[ | In the Event of a Series of Transactions [Member] | Upon Consummating Underwritten Offering [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | 200,000 | |||||||||||||||||||||||||||||
Minimum [Member] | Dr. Samual Herschkowitz [Member[ | Forbearance Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 200,000 | |||||||||||||||||||||||||||||
Maximum [Member] | In the Event of a Series of Transactions [Member] | Triggering Transaction [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | 4,000,000 | |||||||||||||||||||||||||||||
Proceeds from Issuance Initial Public Offering | 30,000,000 | |||||||||||||||||||||||||||||
Maximum [Member] | Dr. Samual Herschkowitz [Member[ | In the Event of a Series of Transactions [Member] | Triggering Transaction [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | 3,000,000 | |||||||||||||||||||||||||||||
Maximum [Member] | Dr. Samual Herschkowitz [Member[ | In the Event of a Series of Transactions [Member] | Upon Consummating Underwritten Offering [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | 1,000,000 | |||||||||||||||||||||||||||||
Maximum [Member] | Dr. Samual Herschkowitz [Member[ | Forbearance Agreement [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 1,000,000 | |||||||||||||||||||||||||||||
Maximum [Member] | Dr. Samual Herschkowitz [Member[ | Reimbursement for Out of Pocket Cost in Connection with Shell Transactions [Member] | In the Event of a Series of Transactions [Member] | ||||||||||||||||||||||||||||||
Note 9 – Related Party Transactions (Details) [Line Items] | ||||||||||||||||||||||||||||||
Related Party Transaction, Amounts of Transaction | $ 10,000 |
Note 10 - Retirement Savings 47
Note 10 - Retirement Savings Plan (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014 | |
Compensation and Retirement Disclosure [Abstract] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | 100.00% | |||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% | 4.00% | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 7,021 | $ 14,102 | $ 21,735 | $ 29,596 |
Note 11 - Commitments and Con48
Note 11 - Commitments and Contingencies (Details) - Daryl C. Demaray, Brady P. Farrell, Christopher S. Howell and Ronald W. Walters v. Skyline Medical Inc. [Member] | Apr. 29, 2015 | Sep. 30, 2015USD ($) |
Note 11 - Commitments and Contingencies (Details) [Line Items] | ||
Loss Contingency, Number of Plaintiffs | 4 | |
Litigation Settlement, Amount | $ 271,236 |
Note 12 - Supplemental Cash F49
Note 12 - Supplemental Cash Flow Data (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | |
Supplemental Cash Flow Elements [Abstract] | ||||
Interest Paid | $ 226,960 | $ 21,627 | $ 237,121 | $ 43,233 |