Predictive Oncology (POAI) 10-Q 23 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 19, 2016
Entity Registrant Name	Skyline Medical Inc.
Entity Central Index Key	1,446,159
Trading Symbol	skln
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		66,159,607
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Balance Sheets (Unaud

Condensed Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Series B Convertible Preferred Stock [Member]
Stockholders’ Equity:
Series B Convertible Preferred Stock, $.01 par value, 10,000,000 authorized, 690,527 and 1,895,010 outstanding	$ 6,905	$ 18,950
Cash and Cash Equivalents	1,535,792	$ 4,856,232
Certificates of Deposit	1,000,000
Marketable Securities (Note 12)	802,850
Accounts Receivable	52,778	$ 38,283
Inventories	256,531	231,740
Prepaid Expense and other assets	170,889	271,579
Total Current Assets	3,818,840	5,397,834
Fixed Assets, net	137,633	139,598
Intangibles, net	94,578	94,987
Total Assets	4,051,051	5,632,419
Accounts Payable	791,684	650,413
Accrued Expenses	722,988	864,295
Deferred Revenue	5,000	5,000
Total Current Liabilities	1,519,672	1,519,708
Total Liabilities	$ 1,519,672	$ 1,519,708
Commitments and Contingencies
Common Stock, $.01 par value, 100,000,000 authorized, 53,259,529 and 5,206,428 outstanding	$ 532,594	$ 52,063
Additional paid-in capital	44,657,835	44,534,135
Accumulated Deficit	(42,668,806)	(40,492,437)
Total Stockholders' Equity	2,531,379	4,112,711
Total Liabilities and Stockholders' Equity	$ 4,051,051	$ 5,632,419

Condensed Balance Sheets (Unau3

Condensed Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2016	Dec. 31, 2015	Jul. 24, 2015	Nov. 30, 2014
Series B Convertible Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorize (in shares)	10,000,000	10,000,000
Preferred stock, shares outstanding (in shares)	690,527	1,895,010
Preferred stock, shares authorize (in shares)			20,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01		$ 0.01
Common stock, shares authorized (in shares)	100,000,000	100,000,000	100,000,000
Common stock, shares outstanding (in shares)	53,259,529	5,206,428

Condensed Statements of Operati

Condensed Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue	$ 96,905	$ 151,274
Cost of goods sold	85,883	95,968
Gross margin	11,022	55,306
General and administrative expense	1,688,577	(127,795)
Operations expense	390,366	21,317
Sales and marketing expense	$ 108,448	233,957
Interest expense		153,622
Total Expense	$ 2,187,391	281,101
Net loss available to common shareholders	(2,176,369)	$ (225,795)
Unrealized gain from marketable securities	2,850
Comprehensive loss	$ (2,173,519)	$ (225,795)
Loss per common share - basic and diluted (in dollars per share)	$ (0.12)	$ (0.07)
Weighted average shares used in computation - basic and diluted (in shares)	18,096,204	3,100,244

Statement of Stockholders' Equi

Statement of Stockholders' Equity (Deficit) (Unaudited) - USD ($)	Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 [Member]Common Stock [Member]	Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 [Member]Additional Paid-in Capital [Member]	Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 Per Share 2 [Member]Common Stock [Member]	Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 Per Share 2 [Member]Additional Paid-in Capital [Member]	Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 Per Share 2 [Member]Retained Earnings [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]Common Stock [Member]	Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 Per Share 3 [Member]Additional Paid-in Capital [Member]	Series A Convertible Preferred Stock [Member]Shares Issued at $9.75 Per Share 3 [Member]Retained Earnings [Member]	Series A Convertible Preferred Stock [Member]Common Stock [Member]	Two Options Exercisable at $2.63 Per Share [Member]Common Stock [Member]	Two Options Exercisable at $2.63 Per Share [Member]Additional Paid-in Capital [Member]	Two Options Exercisable at $2.63 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 $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]	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance at Dec. 31, 2014																																												$ 30,927	$ 206	$ 30,093,745	$ (35,641,105)		$ (5,516,227)
Balance (in shares) at Dec. 31, 2014																																												3,092,766
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Adjustment as converted to common shares at $9.75 per share (in shares)	3,122		3,121				3,121
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Adjustment as converted to common shares at $9.75 per share	$ 31	$ (31)	$ 31	$ 30,369	$ (30,401)	$ (1)	$ 31	$ 30,371	$ (30,401)	$ 1
Reduction in escrow account per settlement agreement (in shares)																																												(8,889)
Reduction in escrow account per settlement agreement																																												$ (89)		(6,578)			(6,667)
Shares issued for a note conversion (in shares)														3,447			6,762			10,313			12,098			15,552			35,000			87,997			14,867			12,993			16,148
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	$ 350	$ 69,650	$ 70,000	$ 880	$ 199,120	$ 200,000	$ 149	$ 29,851	$ 30,000	$ 130	$ 24,870	$ 25,000	$ 162	$ 29,838	$ 30,000
Vesting Expense																																														871,877			871,877
Shares issued in public offering; net																																												$ 16,667	16,667	13,027,546			13,060,880
Shares issued in public offering; net (in shares)																																												1,666,667
Preferred stock conversion																																												$ 2,283	2,077	(4,360)			0
Preferred stock conversion (in shares)																																												228,343
Series A warrant exercise (in shares)																																												3,000
Series A warrant exercise																																												$ 30		9,870			9,900
Net loss																																															(4,790,530)		(4,790,530)
Balance at Dec. 31, 2015																																												$ 52,063	18,950	44,534,135	(40,492,437)		4,112,711
Balance (in shares) at Dec. 31, 2015																																												5,206,428
Vesting Expense																																														37,775			37,775
Preferred stock conversion																																												$ 12,045	(12,045)
Preferred stock conversion (in shares)																																												1,204,483
Series A warrant exercise (in shares)																																												46,815,822
Series A warrant exercise																																												$ 468,158					468,158
Net loss																																															(2,176,369)		(2,176,369)
Balance at Mar. 31, 2016																																												$ 532,594	$ 6,905	$ 44,657,835	$ (42,668,806)	$ 2,850	2,531,379
Balance (in shares) at Mar. 31, 2016																																												53,259,529
Shares issued for two options exercised at $2.63 per share (in shares)											32,796
Shares issued for two options exercised at $2.63 per share											$ 328	$ 85,925	$ 86,253
Unrealized gain from marketable securities																																																$ 2,850	$ 2,850

Statement of Stockholders' Equ6

Statement of Stockholders' Equity (Deficit) (Unaudited) (Parentheticals)	3 Months Ended	12 Months Ended
	Mar. 31, 2016$ / shares	Dec. 31, 2015$ / shares
Shares Issued at $9.75 [Member] | Common Stock [Member]
Series A convertible preferred stock dividends (in dollars per share)		$ 9.75
Shares Issued at $9.75 [Member]
Number of shareholders		16
Two Options Exercisable at $2.63 Per Share [Member] | Common Stock [Member]
Options exercise price (in dollars per share)	$ 2.63
Common Stock [Member] | Note Conversion at $2.90 Per Share [Member]
Note conversion price (in dollars per share)		$ 2.90
Common Stock [Member] | Note Conversion at $2.96 Per Share [Member]
Note conversion price (in dollars per share)		2.96
Common Stock [Member] | Note Conversion at $2.91 Per Share [Member]
Note conversion price (in dollars per share)		2.91
Common Stock [Member] | Note Conversion at $2.77 Per Share [Member]
Note conversion price (in dollars per share)		2.77
Common Stock [Member] | Note Conversion at $2.00 Per Share [Member]
Note conversion price (in dollars per share)		2
Common Stock [Member] | Note Conversion at $2.27283 Per Share [Member]
Note conversion price (in dollars per share)		2.27283
Common Stock [Member] | Note Conversion at $2.0179 Per Share [Member]
Note conversion price (in dollars per share)		2.0179
Common Stock [Member] | Note Conversion at $1.92417 Per Share [Member]
Note conversion price (in dollars per share)		1.92417
Common Stock [Member] | Note Conversion at $1.8578 Per Share [Member]
Note conversion price (in dollars per share)		1.8578
Common Stock [Member] | Series A Convertible Preferred Stock [Member]
Series A convertible preferred stock dividends (in dollars per share)		9.75
Note Conversion at $2.25 Per Share [Member]
Note conversion price (in dollars per share)		$ 2.25
Series A Convertible Preferred Stock [Member]
Number of shareholders		16

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flow from operating activities:
Net loss	$ (2,176,369)	$ (225,795)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	21,040	19,874
Vested stock options and warrants	$ 37,775	72,116
Equity instruments issued for management and consulting		$ (3,333)
Issuance of common stock in cashless warrant exchange	$ 468,158
Amortization of debt discount		$ 98,296
Loss on Sales of Equipment	$ 145	6,736
Changes in assets and liabilities:
Accounts receivable	(14,495)	(32,484)
Inventories	(24,791)	65,978
Prepaid expense and other assets	100,690	110,725
Accounts payable	141,271	269,645
Accrued expenses	$ (141,307)	(453,327)
Deferred Revenue		66,338
Net cash used in operating activities:	$ (1,587,882)	$ (5,231)
Cash flow from investing activities:
Purchase of marketable securities	(800,000)
Purchase of certificates of deposit	(1,000,000)
Purchase of fixed assets	(17,388)
Purchase of intangibles	(1,424)	$ (7,700)
Net cash used in investing activities:	(1,818,811)	$ (7,700)
Cash flow from financing activities:
Issuance of common stock	86,253
Net cash provided by (used in) financing activities	86,253
Net increase (decrease) in cash	(3,320,440)	$ (12,931)
Cash at beginning of period	4,856,232	16,384
Cash at end of period	$ 1,535,792	3,453
Non cash transactions:
Common stock issued to satisfy debt		$ 128,478

Note 1 - Summary of Significant

Note 1 - Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
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 March 31, 2016, the registrant had 53,259,529 shares of common stock, par value $.01 per share, outstanding, (adjusted for a 1-for-75 reverse stock split effective October 24, 2014.) In this Report, all numbers of shares and per share amounts, as appropriate, have been stated to reflect the reverse stock split. 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 March 31, 2016, the Company raised approximately $22,793,250 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" In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern 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 In November 2015, the FASB issued ASU 2015-17, “Income Taxes (Topic 740)” In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, “ Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accountin In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities 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. 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 $3,996 in the three months ended March 31, 2016 and were $917 in the three months ended March 31, 2015. Research and Development Research and development costs are charged to operations as incurred. Research and development expenses were $122,161 in the three months ended March 31, 2016 and $62,662 for March 31, 2015. 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 filters and fluids. 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 or filters may be returned. Additionally, since the Company buys the STREAMWAY FMS units, cleaning solution and filters from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. Cash Equivalents The Company considers all highly liquid debt instruments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value. Certificates of Deposit Short-term interest bearing investments are those with maturities of less than one year but greater than three months when purchased. Certificates with maturity dates beyond one year are classified as noncurrent assets. These investments are readily convertible to cash and are stated at cost plus accrued interest, which approximates fair value. Investment Securities Readily marketable investments in debt and equity securities are classified as available-for-sale and are reported at fair value with unrealized gains and losses recorded in other comprehensive income. Unrealized gains are charged to earnings when an incline in fair value above the cost basis is determined to be other-than-temporary. Realized gains and losses on dispositions are based on the net proceeds and the adjusted book value of the securities sold, using the specific identification method. Fair Value Measurements Under generally accepted accounting principles as outlined in the Financial Accounting Standards Board’s Accounting Standards Codification Level 1 – Observable inputs such as quoted prices in active markets; Level 2 – Inputs other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3 – Unobservable inputs where there is little or no market data, which requires the reporting entity to develop its own assumptions. The Company uses observable market data, when available, in making fair value measurements. Fair value measurements are classified according to the lowest level input that is significant to the valuation. The fair value of the Company’s investment securities were determined based on Level 1 inputs. 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: March 31, 2016 December 31, 2015 Finished goods $ 74,129 $ 30,237 Raw materials 144,045 162,623 Work-In-Process 38,357 38,880 Total $ 256,531 $ 231,740 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: March 31, December 31, Computers and office equipment $ 165,957 $ 153,553 Leasehold improvements 25,635 23,874 Manufacturing tooling 99,763 97,288 Demo Equipment 8,962 8,962 Total 300,317 283,677 Less: Accumulated depreciation 162,684 144,079 Total Fixed Assets, Net $ 137,633 $ 139,598 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 $1,832 in the three months ended March 31, 2016, and was $1,444 in the three months ended March 31, 2015. 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 2012 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. Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high credit quality financial institutions and, by policy, generally limits the amount of credit exposure to any one financial institution. The Company has a credit risk concentration as a result of depositing $914,391 of funds in excess of insurance limits in a single bank. Product Warranty Costs In the three months ending March 31, 2016, the Company incurred approximately $29,889 in current warranty costs and incurred $10,509 in warranty costs for the three months ending March 31, 2015. Segments The Company operates in one segment for the sale of its medical device and consumable products. Substantially all of the Company’s assets, revenues, and expenses for the three months ending March 31, 2016 and for 2015 in entirety were located at or derived from operations in the United States. There were no revenues from sales outside of the United States. Risks and Uncertainties The Company is subject to risks common to companies in the medical device industry, including, but not limited to, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with regulations of the FDA and other governmental agencies. 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 March 16, 2016. 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	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Development Stage Enterprise Disclosures [Text Block]	NOTE 2 – DEVELOPMENT STAGE OPERATIONS The Company was formed April 23, 2002. Since inception to May 5, 2016 65,316,385 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	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
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. Public Offering of Units On August 31, 2015 (the “Issuance Date”), the Company completed a public offering (the “Offering”) of 1,666,667 Units (the “Units”) as described below. The public offering price in the Offering was $9.00 per Unit, and the purchase price for the underwriter of the Offering (the “Underwriter”) 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. The Company paid to the Underwriter a non-accountable expense allowance equal to 1% of the gross proceeds of the Offering and agreed to reimburse expenses incurred by the Underwriter up to $70,000. On August 31, 2015, as a result of the consummation of the Offering and the issuance of the 228,343 Exchange Units in the Unit Exchange described below, the Company issued a total of 1,895,010 Units, 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. Each Unit consisted of one share of common stock, par value $0.01 per share (the “Common Stock”), one share of Series B Convertible Preferred Stock (“Series B Preferred Stock”) and four Series A Warrants. The shares of Common Stock, the shares of Series B Preferred Stock and the Series A Warrants that comprise the Units automatically separated on February 29, 2016. For a description of the terms of the Series B Convertible Preferred Stock included within the Units, see “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. Series A Warrants 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). The Black-Scholes Value (as defined above) as of March 31, 2016 was $4.3217, and the closing bid price of Common Stock as of March 31, 2016, was $0.20. Therefore, an exercise on that date would have resulted in the issuance of 10.05 shares of Common Stock for each Series A Warrant. Approximately 4,746,405 Series A Warrants have been exercised in cashless exercises as of March 31, 2016, resulting in the issuance of 47,682,012 shares of Common Stock. If all of the remaining 2,833,635 Series A Warrants that were issued as part of the Units sold in the Offering and part of the Units issued on August 31, 2015 were exercised pursuant to a cashless exercise and the closing bid price of our 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 were $4.3217 (the Black-Scholes Value as of March 31, 2016), then a total of an additional approximately 28,478,031 shares of our common stock would be issued to the holders of such Series A Warrants. 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, the Series A Warrants provide for certain adjustments if the Company, at any time prior to the three year anniversary of the Issuance Date, (1) 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 at any time after the Issuance Date, or (2) 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. Further, 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 or 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. Series B Preferred Stock. Unit Exchange. Redemption of Convertible Notes. 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 Shares Average Exercise Price Number of Shares Average Exercise Price Outstanding at December 31, 2014 448,601 $ 7.51 500,722 $ 7.95 Issued 354,253 2.76 7,581,722 4.95 Expired (19,136 ) 11.73 (1,967 ) 11.34 Exercised - - (3,000 ) 4.95 Outstanding at December 31, 2015 783,718 $ 5.33 8,077,477 $ 5.14 Issued 117,648 0.17 - - Expired - - - - Exercised (32,796 ) 2.63 (4,746,405 ) 4.95 Outstanding at March 31, 2016 868,570 $ 4.73 3,331,072 $ 5.27 At March 31, 2016, 868,570 stock options are fully vested and currently exercisable with a weighted average exercise price of $4.73 and a weighted average remaining term of 8.28 years. All warrants are fully vested and exercisable. Stock-based compensation recognized for the three months ending March 2016 and March 2015 was $37,775 and $72,116, respectively. The Company has $0 of unrecognized compensation expense related to non-vested stock. The following summarizes the status of options and warrants outstanding at March 31, 2016: Range of Prices Shares Weighted Remaining Life Options $ 0.17 117,648 10.00 $ 0.75 7,333 5.27 $ 2.63 217,685 9.56 $ 2.94 30,614 9.76 $ 3.10 59,681 9.25 $ 3.21 6,232 9.51 $ 3.45 7,245 9.01 $ 4.875 134 6.95 $ 5.25 2,031 6.44 $ 5.625 192,000 6.96 $ 5.925 23,206 6.97 $ 6.00 123,998 6.38 $ 6.50 3,845 8.76 $ 8.25 3,636 8.51 $ 9.9375 3,019 7.29 $ 10.50 3,238 7.29 $ 11.25 13,666 6.85 $ 12.75 67 7.11 $ 13.875 2,160 8.01 $ 17.25 40,261 7.94 $ 18.75 3,334 7.90 $ 20.25 4,940 7.76 $ 21.75 1,336 7.52 $ 23.850 1,260 7.50 868,570 Warrants $ 3.75 56,381 1.95 $ 4.95 2,830,627 4.42 $ 6.00 102,857 1.95 $ 9.00 2,666 1.82 $ 9.75 63,232 3.35 $ 11.25 147,420 1.70 $ 12.375 71,257 3.36 $ 12.38 5,557 3.61 $ 13.50 4,444 2.22 $ 14.850 23,612 2.16 $ 20.25 1,481 2.88 $ 24.375 21,538 2.85 3,331,072 Stock options and warrants expire on various dates from June 2017 to March 2026. On July 24, 2015, an amendment to the Certificate of Incorporation became effective, pursuant to which the authorized common stock was increased to 100,000,000 shares of common stock and the authorized preferred stock was increased to 20,000,000 shares. Stock Options and Warrants Granted by the Company The following table is the listing of stock options and warrants as of March 31, 2016 by year of grant: Stock Options: Year Shares Price 2011 11,666 $0.75 - 11.20 2012 126,029 5.25 - 6.00 2013 232,756 4.875 - 23.85 2014 59,013 6.50 - 18.75 2015 321,458 2.63 - 3.45 2016 117,648 0.17 Total 868,570 $ 0.17 - 23.85 Warrants: Year Shares Price 2012 69,801 11.25 2013 267,579 3.75 - 14.85 2014 161,375 9.75 - 24.375 2015 2,832,317 $ 4.95 - 9.75 Total 3,331,072 $ 3.75 - 24.375

Note 4 - Short-term Notes Payab

Note 4 - Short-term Notes Payable	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
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 March 31, 2016 none of the Convertible Notes were outstanding.

Note 5 - Loss Per Share

Note 5 - Loss Per Share	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
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 March 31, 2016 2015 Numerator: Net loss available in basic and diluted calculation $ (2,176,369 ) $ (225,795 ) Other comprehensive income: Unrealized gain from marketable securities 2,850 - Comprehensive (loss) (2,173,519 ) (225,795 ) Denominator: Weighted average common shares outstanding-basic 18,096,204 3,100,244 Effect of diluted stock options, warrants and preferred stock (1) - - Weighted average common shares outstanding-basic 18,096,204 3,100,244 Loss per common share-basic and diluted $ (0.12 ) $ (0.07 ) (1) The number of shares underlying options and warrants outstanding as of March 31, 2016 and March 31, 2015 are 4,199,642 and 949,955 respectively. The number of shares underlying the preferred stock as of March 31, 2016 is 690,527. The effect of the shares that would be issued upon exercise of such options, warrants and preferred stock 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	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 6 – INCOME TAXES Availability and Utilization of Net Operating Losses 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. During the first quarter of 2016, the Company likely had another ownership change that could further limit the Company’s ability to fully utilize its NOLs; however, the determination of the annual limitation has not yet been made. Income Taxes At December 31, 2015, the Company had approximately $24.7 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 $13.4 million of gross NOLs to reduce future state taxable income at December 31, 2015, which will expire in years 2022 through 2036 if unused. The Company's net deferred tax assets, which include the NOLs, are subject to a full valuation allowance. At December 31, 2015, the federal and state valuation allowances were $9.6 million and $1.1million, respectively. At March 31, 2016, the Company had approximately $26.5 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 limitations described above. The federal NOLs will expire beginning in 2022 if unused. The Company also had approximately $14.1 million of gross NOLs to reduce future state taxable income at March 31, 2016, which will expire in years 2022 through 2036 if unused. The Company's net deferred tax assets, which include the NOLs, are subject to a full valuation allowance. At March 31, 2016, the federal and state valuation allowances were $10.2 million and $1.1million, respectively. The components of deferred income taxes at March 31, 2016 and December 31, 2015 are as follows: March 31, 2016 December 31, 2015 Deferred Tax Asset: Net Operating Loss $ 11,089,000 $ 10,338,000 Other 236,000 359,000 Total Deferred Tax Asset 11,325,000 10,697,000 Less Valuation Allowance 11,325,000 10,697,000 Net Deferred Income Taxes $ — $ —

Note 7 - Rent Obligation

Note 7 - Rent Obligation	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
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 $16,750 and $18,433 for the three months ended March 31, 2016 and March 31, 2015 respectively. The Company’s rent obligation for the next three years is as follows: 2016 $ 28,500 2017 $ 39,000 2018 $ 3,600

Note 8 - Related Party Transact

Note 8 - Related Party Transactions	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 8 – 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. In connection with the sale of the Series A Preferred Shares on February 4, 2014, Josh Kornberg, our President, CEO and Interim Chairman of the Board, 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. SOK Partners, LLC (“SOK”), a 10% stockholder with Mr. Kornberg and Dr. Samuel Herschkowitz as managing partners, invested in the July 2014 offering of convertible notes and warrants. In November 2014, the convertible noteholders agreed to convert certain balances of the convertible notes in connection with the public offering of the Existing Units, in consideration of the agreement to issue certain additional shares. See “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Liquidity and Capital Resources – History Financing – 2014 Sales of Convertible Notes and Warrants.” In connection with the Unit Offering in August 2015, all such convertible notes were redeemed at a redemption price of 140% of the principal amount thereof, plus accrued and unpaid interest. The Company paid approximately $163,000 to SOK in redemption of its convertible note. In addition, Ricardo Koenigsberger, a former director who resigned on June 5, 2015, is a holder of membership units of SOK Partners. In connection with the Unit Exchange that was consummated on August 31, 2015, 250 shares of Series A Convertible Stock held by Mr. Kornberg were exchanged for 2,778 Exchange Units.

Note 9 - Retirement Savings Pla

Note 9 - Retirement Savings Plan	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	NOTE 9 – 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 2016 and 2015, we matched 100%, of the employee’s contribution up to 4% of their earnings. The employer contribution was $11,117 and $8,062 for the three months ending March 31, 2016 and March 31, 2015, respectively.

Note 10 - Supplemental Cash Flo

Note 10 - Supplemental Cash Flow Data	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Cash Flow, Supplemental Disclosures [Text Block]	NOTE 10 – SUPPLEMENTAL CASH FLOW DATA Cash payments for interest were $0 for the three months ended March 31, 2016 and $9,661 for the three months ended March 31, 2015.

Note 11 - Subsequent Events

Note 11 - Subsequent Events	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 11 – SUBSEQUENT EVENTS On March 25, 2016, the Company commenced a registered exchange offer (the “Exchange Offer”) to exchange Series B Warrants (the “Series B Warrants”) to purchase shares of our common stock, par value $0.01 per share (the “Warrant Shares”), for up to an aggregate of 3,157,186 outstanding Series A Warrants (the “Series A Warrants”). On March 31, 2016, each Series A Warrant could be exercised on a cashless basis for 10.05 shares of common stock. Each Series B Warrant may be exercised on a cashless basis for one share of common stock. For each outstanding Series A Warrant tendered by holders, we offered to issue 10.2 Series B Warrants, which are subject to cashless exercise at a fixed rate of one share of common stock per Series B Warrant (subject to further adjustment for stock splits, etc.). The Exchange Offer expired at midnight, Eastern time, on April 21, 2016. 1,770,556 Series A Warrants were tendered by holders. The Company delivered an aggregate of 18,059,671 Series B Warrants pursuant to the terms of the Exchange Offer. In addition, between March 31, 2016 and April 21, 2016 1,040,373 Series A Warrants were exercised in cashless exercises, resulting in the issuance of 10,454,136 shares of common stock.

Note 12 - Investment Securities

Note 12 - Investment Securities and Other Comprehensive Income/ (Loss)	3 Months Ended
	Mar. 31, 2016
Notes to Financial Statements
Investment Securities and Other Comprehensive Income/(Loss) [Text Block]	NOTE 12 – INVESTMENT SECURITIES AND OTHER COMPREHENSIVE INCOME/(LOSS) The cost and fair values of investment securities available-for-sale at March 31, 2016 were as follows: March 31, 2016 Description Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mutual Funds 800,000 2,850 - 802,850 Mutual Funds $ 800,000 $ 2,850 $ - $ 802,850

Significant Accounting Policies

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	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 March 31, 2016, the registrant had 53,259,529 shares of common stock, par value $.01 per share, outstanding, (adjusted for a 1-for-75 reverse stock split effective October 24, 2014.) In this Report, all numbers of shares and per share amounts, as appropriate, have been stated to reflect the reverse stock split. 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 March 31, 2016, the Company raised approximately $22,793,250 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.”
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" In August 2014, the FASB issued ASU 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern 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 In November 2015, the FASB issued ASU 2015-17, “Income Taxes (Topic 740)” In February 2016, the FASB issued ASU No. 2016-02, “ Leases (Topic 842) In March 2016, the FASB issued ASU No. 2016-09, “ Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accountin In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments-Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities 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.
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 $3,996 in the three months ended March 31, 2016 and were $917 in the three months ended March 31, 2015.
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 $122,161 in the three months ended March 31, 2016 and $62,662 for March 31, 2015.
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 filters and fluids. 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 or filters may be returned. Additionally, since the Company buys the STREAMWAY FMS units, cleaning solution and filters from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash Equivalents The Company considers all highly liquid debt instruments with a maturity of three months or less when purchased to be cash equivalents. Cash equivalents are stated at cost, which approximates fair value.
Certificates of Deposit Policy [Policy Text Block]	Certificates of Deposit Short-term interest bearing investments are those with maturities of less than one year but greater than three months when purchased. Certificates with maturity dates beyond one year are classified as noncurrent assets. These investments are readily convertible to cash and are stated at cost plus accrued interest, which approximates fair value.
Marketable Securities, Policy [Policy Text Block]	Investment Securities Readily marketable investments in debt and equity securities are classified as available-for-sale and are reported at fair value with unrealized gains and losses recorded in other comprehensive income. Unrealized gains are charged to earnings when an incline in fair value above the cost basis is determined to be other-than-temporary. Realized gains and losses on dispositions are based on the net proceeds and the adjusted book value of the securities sold, using the specific identification method.
Fair Value Measurement, Policy [Policy Text Block]	Fair Value Measurements Under generally accepted accounting principles as outlined in the Financial Accounting Standards Board’s Accounting Standards Codification Level 1 – Observable inputs such as quoted prices in active markets; Level 2 – Inputs other than quoted prices in active markets, that are observable either directly or indirectly; and Level 3 – Unobservable inputs where there is little or no market data, which requires the reporting entity to develop its own assumptions. The Company uses observable market data, when available, in making fair value measurements. Fair value measurements are classified according to the lowest level input that is significant to the valuation. The fair value of the Company’s investment securities were determined based on Level 1 inputs.
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: March 31, 2016 December 31, 2015 Finished goods $ 74,129 $ 30,237 Raw materials 144,045 162,623 Work-In-Process 38,357 38,880 Total $ 256,531 $ 231,740
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: March 31, December 31, Computers and office equipment $ 165,957 $ 153,553 Leasehold improvements 25,635 23,874 Manufacturing tooling 99,763 97,288 Demo Equipment 8,962 8,962 Total 300,317 283,677 Less: Accumulated depreciation 162,684 144,079 Total Fixed Assets, Net $ 137,633 $ 139,598 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 $1,832 in the three months ended March 31, 2016, and was $1,444 in the three months ended March 31, 2015. 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 2012 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.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high credit quality financial institutions and, by policy, generally limits the amount of credit exposure to any one financial institution. The Company has a credit risk concentration as a result of depositing $914,391 of funds in excess of insurance limits in a single bank.
Standard Product Warranty, Policy [Policy Text Block]	Product Warranty Costs In the three months ending March 31, 2016, the Company incurred approximately $29,889 in current warranty costs and incurred $10,509 in warranty costs for the three months ending March 31, 2015.
Segment Reporting, Policy [Policy Text Block]	Segments The Company operates in one segment for the sale of its medical device and consumable products. Substantially all of the Company’s assets, revenues, and expenses for the three months ending March 31, 2016 and for 2015 in entirety were located at or derived from operations in the United States. There were no revenues from sales outside of the United States.
Risks and Uncertainties Policy [Policy Text Block]	Risks and Uncertainties The Company is subject to risks common to companies in the medical device industry, including, but not limited to, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with regulations of the FDA and other governmental agencies.
Interim Financial Statements, 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 March 16, 2016. 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)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, 2016 December 31, 2015 Finished goods $ 74,129 $ 30,237 Raw materials 144,045 162,623 Work-In-Process 38,357 38,880 Total $ 256,531 $ 231,740
Property Plant and Equipment UsefulLife [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]	March 31, December 31, Computers and office equipment $ 165,957 $ 153,553 Leasehold improvements 25,635 23,874 Manufacturing tooling 99,763 97,288 Demo Equipment 8,962 8,962 Total 300,317 283,677 Less: Accumulated depreciation 162,684 144,079 Total Fixed Assets, Net $ 137,633 $ 139,598

Note 3 - Stockholders' Defici22

Note 3 - Stockholders' Deficit, Stock Options and Warrants (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Share-based Compensation, Activity [Table Text Block]	Stock Options Warrants Number of Shares Average Exercise Price Number of Shares Average Exercise Price Outstanding at December 31, 2014 448,601 $ 7.51 500,722 $ 7.95 Issued 354,253 2.76 7,581,722 4.95 Expired (19,136 ) 11.73 (1,967 ) 11.34 Exercised - - (3,000 ) 4.95 Outstanding at December 31, 2015 783,718 $ 5.33 8,077,477 $ 5.14 Issued 117,648 0.17 - - Expired - - - - Exercised (32,796 ) 2.63 (4,746,405 ) 4.95 Outstanding at March 31, 2016 868,570 $ 4.73 3,331,072 $ 5.27
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 $ 0.17 117,648 10.00 $ 0.75 7,333 5.27 $ 2.63 217,685 9.56 $ 2.94 30,614 9.76 $ 3.10 59,681 9.25 $ 3.21 6,232 9.51 $ 3.45 7,245 9.01 $ 4.875 134 6.95 $ 5.25 2,031 6.44 $ 5.625 192,000 6.96 $ 5.925 23,206 6.97 $ 6.00 123,998 6.38 $ 6.50 3,845 8.76 $ 8.25 3,636 8.51 $ 9.9375 3,019 7.29 $ 10.50 3,238 7.29 $ 11.25 13,666 6.85 $ 12.75 67 7.11 $ 13.875 2,160 8.01 $ 17.25 40,261 7.94 $ 18.75 3,334 7.90 $ 20.25 4,940 7.76 $ 21.75 1,336 7.52 $ 23.850 1,260 7.50 868,570 Warrants $ 3.75 56,381 1.95 $ 4.95 2,830,627 4.42 $ 6.00 102,857 1.95 $ 9.00 2,666 1.82 $ 9.75 63,232 3.35 $ 11.25 147,420 1.70 $ 12.375 71,257 3.36 $ 12.38 5,557 3.61 $ 13.50 4,444 2.22 $ 14.850 23,612 2.16 $ 20.25 1,481 2.88 $ 24.375 21,538 2.85 3,331,072
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block]	Stock Options: Year Shares Price 2011 11,666 $0.75 - 11.20 2012 126,029 5.25 - 6.00 2013 232,756 4.875 - 23.85 2014 59,013 6.50 - 18.75 2015 321,458 2.63 - 3.45 2016 117,648 0.17 Total 868,570 $ 0.17 - 23.85 Warrants: Year Shares Price 2012 69,801 11.25 2013 267,579 3.75 - 14.85 2014 161,375 9.75 - 24.375 2015 2,832,317 $ 4.95 - 9.75 Total 3,331,072 $ 3.75 - 24.375

Note 5 - Loss Per Share (Tables

Note 5 - Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended March 31, 2016 2015 Numerator: Net loss available in basic and diluted calculation $ (2,176,369 ) $ (225,795 ) Other comprehensive income: Unrealized gain from marketable securities 2,850 - Comprehensive (loss) (2,173,519 ) (225,795 ) Denominator: Weighted average common shares outstanding-basic 18,096,204 3,100,244 Effect of diluted stock options, warrants and preferred stock (1) - - Weighted average common shares outstanding-basic 18,096,204 3,100,244 Loss per common share-basic and diluted $ (0.12 ) $ (0.07 )

Note 6 - Income Taxes (Tables)

Note 6 - Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	March 31, 2016 December 31, 2015 Deferred Tax Asset: Net Operating Loss $ 11,089,000 $ 10,338,000 Other 236,000 359,000 Total Deferred Tax Asset 11,325,000 10,697,000 Less Valuation Allowance 11,325,000 10,697,000 Net Deferred Income Taxes $ — $ —

Note 7 - Rent Obligation (Table

Note 7 - Rent Obligation (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Rent Expense [Table Text Block]	2016 $ 28,500 2017 $ 39,000 2018 $ 3,600

Note 12 - Investment Securiti26

Note 12 - Investment Securities and Other Comprehensive Income/ (Loss) (Tables)	3 Months Ended
	Mar. 31, 2016
Notes Tables
Schedule of Available-for-sale Securities Reconciliation [Table Text Block]	March 31, 2016 Description Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Mutual Funds 800,000 2,850 - 802,850 Mutual Funds $ 800,000 $ 2,850 $ - $ 802,850

Note 1 - Summary of Significa27

Note 1 - Summary of Significant Accounting Policies (Details Textual)	3 Months Ended		12 Months Ended	171 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)$ / sharesshares	Mar. 31, 2016USD ($)$ / sharesshares	Nov. 30, 2014$ / shares
Series A Convertible Preferred Stock [Member] | Private Placement [Member]
Stock Issued During Period, Value, New Issues				$ 2,055,000
IPO [Member]
Stock Issued During Period, Value, New Issues				$ 13,555,003
Earliest Tax Year [Member]
Open Tax Year	2,012
Common Stock, Shares, Outstanding | shares	53,259,529		5,206,428	53,259,529
Common Stock, Par or Stated Value Per Share | $ / shares	$ 0.01		$ 0.01	$ 0.01	$ 0.01
Stockholders' Equity, Period Increase (Decrease)				$ 22,793,250
Stock Issued During Period, Value, New Issues			$ 13,060,880
Debt Instrument, Increase (Decrease), Net				5,685,000
Advertising Expense	$ 3,996	$ 917
Research and Development Expense	122,161	62,662
Amortization of Intangible Assets	1,832	1,444
Cash, Uninsured Amount	914,391			$ 914,391
Product Warranty Expense	$ 29,889	$ 10,509
Number of Operating Segments	1

Note 1 - Schedule of Inventory

Note 1 - Schedule of Inventory (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Finished goods	$ 74,129	$ 30,237
Raw materials	144,045	162,623
Work-In-Process	38,357	38,880
Total	$ 256,531	$ 231,740

Note 1 - Schedule of Property,

Note 1 - Schedule of Property, Plant and Equipment, Useful Life (Details)	3 Months Ended
	Mar. 31, 2016
Office Equipment [Member] | Minimum [Member]
Property Plant and Equipment	3 years
Office Equipment [Member] | Maximum [Member]
Property Plant and Equipment	7 years
Leasehold Improvements [Member]
Property Plant and Equipment	5 years
Manufacturing Tooling [Member] | Minimum [Member]
Property Plant and Equipment	3 years
Manufacturing Tooling [Member] | Maximum [Member]
Property Plant and Equipment	7 years
Demo Equipment [Member]
Property Plant and Equipment	3 years

Note 1 - Schedule of Property30

Note 1 - Schedule of Property, Plant and Equipment (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Office Equipment [Member]
Property, Plant and Equipment Gross	$ 165,957	$ 153,553
Leasehold Improvements [Member]
Property, Plant and Equipment Gross	25,635	23,874
Manufacturing Tooling [Member]
Property, Plant and Equipment Gross	99,763	97,288
Demo Equipment [Member]
Property, Plant and Equipment Gross	8,962	8,962
Property, Plant and Equipment Gross	300,317	283,677
Less: Accumulated depreciation	162,684	144,079
Total Fixed Assets, Net	$ 137,633	$ 139,598

Note 2 - Development Stage Op31

Note 2 - Development Stage Operations (Details Textual) - $ / shares	Mar. 31, 2016	May. 05, 2015
Common Stock [Member]
Share Price		$ 125.25
Common Stock, Shares, Issued		65,316,385
Share Price	$ 0.20

Note 3 - Stockholders' Defici32

Note 3 - Stockholders' Deficit, Stock Options and Warrants (Details Textual) - USD ($)	Mar. 31, 2016	Aug. 31, 2015	Sep. 09, 2014	Jun. 30, 2014	Feb. 04, 2014	Jun. 30, 2015	Mar. 31, 2015	Jan. 31, 2015	Dec. 31, 2014	Nov. 30, 2014	Sep. 30, 2014	Aug. 31, 2014	Jun. 30, 2014	Mar. 31, 2014	Jan. 31, 2014	Mar. 31, 2016	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Mar. 11, 2016	Jul. 24, 2015	May. 05, 2015	Jul. 31, 2014	Feb. 28, 2014
Maximum [Member]
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
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 24.375															$ 24.375
Underwriting Agreement Expenses Agreed to Reimburse the Underwriter		$ 70,000
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate																			2.35%	2.75%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term																			10 years	10 years
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price																$ 23.85			$ 5.5695	$ 13.9195
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period																3 years
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 3.75															$ 3.75
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate																			1.63%	1.44%
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term																			5 years	5 years
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price																$ 0.17			$ 0.275	$ 3.2006
Series A Convertible Preferred Stock [Member] | Exchange Units [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities		84,770
Series A Convertible Preferred Stock [Member]
Preferred Stock, Shares Outstanding		0
Class of Warrant or Right, Exercise Price of Warrants or Rights																									$ 24.38
Stock Issued During Period, Shares, New Issues					20,550
Preferred Stock Par Value					$ 0.01
Preferred Stock Stated Value					$ 100
Stock Issued During Period, Value, New Issues					$ 2,055,000
Series B Convertible Preferred Stock [Member] | Exchange Units [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities		1,895,010
Series B Convertible Preferred Stock [Member] | Corporate Stock Transfer Inc. [Member]
Unit Agreement Number of Shares of Preferred Stock Included in Each Unit		1
Series B Convertible Preferred Stock [Member]
Preferred Stock, Shares Outstanding	690,527															690,527			1,895,010
Convertible Preferred Stock, Shares Issued upon Conversion		1
Beneficial Ownership Limitation Percentage		4.99%
Preferred Stock Par Value	$ 0.01															$ 0.01			$ 0.01
Preferred Stock, Shares Authorized	10,000,000															10,000,000			10,000,000
Four Lenders [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights											37,440	37,440
Class of Warrant or Right, Exercise Price of Warrants or Rights											$ 12.38	$ 12.38
Chief Executive Officer [Member]
Stock Issued During Period, Value, Stock Options Exercised															$ 4,336
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price															$ 1.25
Dr.Samuel Herschkowitz [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																									1,482
Class of Warrant or Right, Exercise Price of Warrants or Rights																									$ 20.25
Two Lenders [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																								28,986
Class of Warrant or Right, Exercise Price of Warrants or Rights																								$ 12.38
Purchasers [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights												61,539
Class of Warrant or Right, Exercise Price of Warrants or Rights												$ 24.38
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						$ 9.75	$ 9.75	$ 9.75
Number of Preferred Stock Share holders						16	16	16	16		16						16			16
Maximum Number of Days Not Listed on Stock Market												180 days
Preferred Stock Conversion Price Per Share								$ 19.50	$ 19.50		$ 19.50
Exchange Units [Member] | Common Stock [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities		1,895,010
Exchange Units [Member] | Series A Warrants [Member]
Stock Issued During Period, Shares, Conversion of Convertible Securities		7,580,040
Exchange Units [Member] | Corporate Stock Transfer Inc. [Member]
Unit Purchase Option Units Issued		228,343
Unit Purchase Option Number of Units Available for Underwriter to Purchase, Percentage		5.00%
Unit Purchase Option Number of Units Available For Underwriter to Purchase		83,333
Unit Purchase Option Exercise Price, Percentage		125.00%
Unit Purchase Option Exercise Price		$ 11.25
Exchange Units [Member]
Unit Purchase Option Units Issued		228,343
Stock Issued During Period, Shares, Conversion of Convertible Securities		1,895,010
Common Stock [Member]
Stock Issued During Period, Shares, New Issues																			1,666,667
Share Price																							$ 125.25
Stock Issued During Period Shares Warrants Exercised																46,815,822			3,000
Stock Issued During Period, Value, New Issues																			$ 16,667
Stock Issued During Period Shares Preferred Stock Conversion																1,204,483			228,343
Warrant [Member]
Cashless Exercise of Common Stock Warrants, Total																		15,442
Series A Warrants [Member] | Corporate Stock Transfer Inc. [Member] | Scenario, All Outstanding Warrants Exercised at Minimum Bid Price [Member]
Stock Issued During Period Shares Warrants Exercised	28,478,031
Series A Warrants [Member] | Corporate Stock Transfer Inc. [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	47,682,012															47,682,012
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 4.95
Unit Agreement Number of Warrants Included in Each Unit		4
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right		1
Cash Less Exercise Formula Definition of Letter C in the Formula Closing Bid Price Number of Trading Days Prior to the Time of Exercise		2 days
Cash Less Exercise Formula Closing Bid Price Per Share Minimum to Be Used in the Formula																					$ 0.43
Warrants Option to Settle in Cash Fair Value Disclosure	$ 4.3217															$ 4.3217
Class of Warrant or Right Exercised During Period	4,746,405
Class of Warrant or Right, Outstanding	2,833,635															2,833,635
Class of Warrant or Right Cash less Exercise Common Stock Price That Would Result in a Dilutive Exercise	$ 0.43															$ 0.43
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
Corporate Stock Transfer Inc. [Member]
Unit Agreement Number of Shares of Common Stock Included in Each Unit		1
Common Stock, Par or Stated Value Per Share		$ 0.01
The Convertible Notes [Member]
Debt Instrument Redemption Principal Amount		$ 933,074
Debt Instrument Redemption Premium Percentage		40.00%
Debt Instrument Redemption Price		$ 1,548,792
Debt Instrument Redemption Amount Paid to Affiliates		$ 167,031
SOK Partners LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights			4,831	5,431									5,431
Class of Warrant or Right, Exercise Price of Warrants or Rights			$ 12.38	$ 12.38									$ 12.38
Percentage of Reduction to Warrant Agreement			11.00%
Option Granted to Underwriter to Purchase Additional Units Additional Units Purchased		0
Percentage Reduction to Number of Warrants											11.00%	11.00%												11.00%
Class of Warrant or Right, Number of Securities Called by Warrants or Rights															21,538										21,538
Class of Warrant or Right, Exercise Price of Warrants or Rights														$ 11.25				$ 11.25
Stock Issued During Period, Shares, New Issues		1,666,667								13,700
Shares Issued, Price Per Share		$ 9
Underwriter Price		8.28
Underwriting Discount		$ 0.72
Underwriting Commission		8.00%
Proceeds from Issuance or Sale of Equity		$ 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
Underwriting Agreement Non-accountable Expense Allowance Percentage		1.00%
Common Stock, Par or Stated Value Per Share	$ 0.01									$ 0.01						$ 0.01			$ 0.01
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right	10.05															10.05
Share Price	$ 0.20															$ 0.20
Class of Warrant or Right, Outstanding	3,331,072															3,331,072
Cashless Exercise of Common Stock Warrants, Total														3,333
Stock Issued During Period, Value, New Issues																			$ 13,060,880
Preferred Stock, Dividend Rate, Percentage				6.00%										6.00%
Conversion of Stock Price Per Share														$ 19.50
Stock Issued During Period Shares Preferred Stock Conversion				1,561										970
Number of Preferred Stock Share holders				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				$ 19.50									$ 19.50
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate																			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, Options, Vested and Expected to Vest, Exercisable, Number	868,570															868,570
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price	$ 4.73															$ 4.73
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term																8 years 102 days
Allocated Share-based Compensation Expense																$ 37,775	$ 72,116
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options	$ 0															$ 0
Common Stock, Shares Authorized	100,000,000															100,000,000			100,000,000			100,000,000
Preferred Stock, Shares Authorized																						20,000,000

Note 3 - Summary of Transaction

Note 3 - Summary of Transactions for Stock Options and Warrants (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Employee Stock Option [Member]
Number of Shares Outstanding (in shares)	783,718	448,601
Average Exercise Price Outstanding (in dollars per share)	$ 5.33	$ 7.51
Number of Shares Issued (in shares)	117,648	354,253
Average Exercise Price Issued (in dollars per share)	$ 0.17	$ 2.76
Number of Shares Expired (in shares)		(19,136)
Average Exercise Price Expired (in dollars per share)		$ 11.73
Number of Shares Exercised (in shares)	(32,796)
Average Exercise Price Exercised (in dollars per share)	$ 2.63
Number of Shares Outstanding (in shares)	868,570	783,718
Average Exercise Price Outstanding (in dollars per share)	$ 4.73	$ 5.33
Warrant [Member]
Number of Shares Outstanding (in shares)	8,077,477	500,722
Average Exercise Price Outstanding (in dollars per share)	$ 5.14	$ 7.95
Number of Shares Issued (in shares)		7,581,722
Average Exercise Price Issued (in dollars per share)		$ 4.95
Number of Shares Expired (in shares)		(1,967)
Average Exercise Price Expired (in dollars per share)		$ 11.34
Number of Shares Exercised (in shares)	(4,746,405)	(3,000)
Average Exercise Price Exercised (in dollars per share)	$ 4.95	$ 4.95
Number of Shares Outstanding (in shares)	3,331,072	8,077,477
Average Exercise Price Outstanding (in dollars per share)	$ 5.27	$ 5.14
Number of Shares Outstanding (in shares)	868,570

Note 3 - Summary of Status of O

Note 3 - Summary of Status of Options and Warrants Outstanding (Details) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2014
Stock Options One [Member]
Range of exercise prices, options (in dollars per share)	$ 0.17
Shares, options (in shares)	117,648
Weighted average remaining life, options	10 years
Stock Options Two [Member]
Range of exercise prices, options (in dollars per share)	$ 0.75
Shares, options (in shares)	7,333
Weighted average remaining life, options	5 years 98 days
Stock Options Three [Member]
Range of exercise prices, options (in dollars per share)	$ 2.63
Shares, options (in shares)	217,685
Weighted average remaining life, options	9 years 204 days
Stock Options Four [Member]
Range of exercise prices, options (in dollars per share)	$ 2.94
Shares, options (in shares)	30,614
Weighted average remaining life, options	9 years 277 days
Stock Options Five [Member]
Range of exercise prices, options (in dollars per share)	$ 3.10
Shares, options (in shares)	59,681
Weighted average remaining life, options	9 years 91 days
Stock Options Six [Member]
Range of exercise prices, options (in dollars per share)	$ 3.21
Shares, options (in shares)	6,232
Weighted average remaining life, options	9 years 186 days
Stock Options Seven [Member]
Range of exercise prices, options (in dollars per share)	$ 3.45
Shares, options (in shares)	7,245
Weighted average remaining life, options	9 years 3 days
Stock Options Eight [Member]
Range of exercise prices, options (in dollars per share)	$ 4.875
Shares, options (in shares)	134
Weighted average remaining life, options	6 years 346 days
Stock Options Nine [Member]
Range of exercise prices, options (in dollars per share)	$ 5.25
Shares, options (in shares)	2,031
Weighted average remaining life, options	6 years 160 days
Stock Options Ten [Member]
Range of exercise prices, options (in dollars per share)	$ 5.625
Shares, options (in shares)	192,000
Weighted average remaining life, options	6 years 350 days
Stock Options Eleven [Member]
Range of exercise prices, options (in dollars per share)	$ 5.925
Shares, options (in shares)	23,206
Weighted average remaining life, options	6 years 354 days
Stock Options Twelve [Member]
Range of exercise prices, options (in dollars per share)	$ 6
Shares, options (in shares)	123,998
Weighted average remaining life, options	6 years 138 days
Stock Options Thirteen [Member]
Range of exercise prices, options (in dollars per share)	$ 6.50
Shares, options (in shares)	3,845
Weighted average remaining life, options	8 years 277 days
Stock Options Fourteen [Member]
Range of exercise prices, options (in dollars per share)	$ 8.25
Shares, options (in shares)	3,636
Weighted average remaining life, options	8 years 186 days
Stock Options Fifteen [Member]
Range of exercise prices, options (in dollars per share)	$ 9.9375
Shares, options (in shares)	3,019
Weighted average remaining life, options	7 years 105 days
Stock Options Sixteen [Member]
Range of exercise prices, options (in dollars per share)	$ 10.50
Shares, options (in shares)	3,238
Weighted average remaining life, options	7 years 105 days
Stock Options Seventeen [Member]
Range of exercise prices, options (in dollars per share)	$ 11.25
Shares, options (in shares)	13,666
Weighted average remaining life, options	6 years 310 days
Stock Options Eighteen [Member]
Range of exercise prices, options (in dollars per share)	$ 12.75
Shares, options (in shares)	67
Weighted average remaining life, options	7 years 40 days
Stock Options Nineteen [Member]
Range of exercise prices, options (in dollars per share)	$ 13.875
Shares, options (in shares)	2,160
Weighted average remaining life, options	8 years 3 days
Stock Options Twenty [Member]
Range of exercise prices, options (in dollars per share)	$ 17.25
Shares, options (in shares)	40,261
Weighted average remaining life, options	7 years 343 days
Stock Options Twenty One [Member]
Range of exercise prices, options (in dollars per share)	$ 18.75
Shares, options (in shares)	3,334
Weighted average remaining life, options	7 years 328 days
Stock Options Twenty Two [Member]
Range of exercise prices, options (in dollars per share)	$ 20.25
Shares, options (in shares)	4,940
Weighted average remaining life, options	7 years 277 days
Stock Options Twenty Three [Member]
Range of exercise prices, options (in dollars per share)	$ 21.75
Shares, options (in shares)	1,336
Weighted average remaining life, options	7 years 189 days
Stock Options Twenty Four [Member]
Range of exercise prices, options (in dollars per share)	$ 23.85
Shares, options (in shares)	1,260
Weighted average remaining life, options	7 years 182 days
Warrant One [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 3.75
Class of Warrant or Right, Outstanding	56,381
Weighted average remaining life, warrants	1 year 346 days
Warrant Two [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 4.95
Class of Warrant or Right, Outstanding	2,830,627
Weighted average remaining life, warrants	4 years 153 days
Warrant Three [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 6
Class of Warrant or Right, Outstanding	102,857
Weighted average remaining life, warrants	1 year 346 days
Warrant Four [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 9
Class of Warrant or Right, Outstanding	2,666
Weighted average remaining life, warrants	1 year 299 days
Warrant Five [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 9.75
Class of Warrant or Right, Outstanding	63,232
Weighted average remaining life, warrants	3 years 127 days
Warrant Six [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.25
Class of Warrant or Right, Outstanding	147,420
Weighted average remaining life, warrants	1 year 255 days
Warrant Seven [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 12.375
Class of Warrant or Right, Outstanding	71,257
Weighted average remaining life, warrants	3 years 131 days
Warrant Eight [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 12.38
Class of Warrant or Right, Outstanding	5,557
Weighted average remaining life, warrants	3 years 222 days
Warrant Nine [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 13.50
Class of Warrant or Right, Outstanding	4,444
Weighted average remaining life, warrants	2 years 80 days
Warrant Ten [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 14.85
Class of Warrant or Right, Outstanding	23,612
Weighted average remaining life, warrants	2 years 58 days
Warrant Eleven [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 20.25
Class of Warrant or Right, Outstanding	1,481
Weighted average remaining life, warrants	2 years 321 days
Warrant Twelve [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 24.375
Class of Warrant or Right, Outstanding	21,538
Weighted average remaining life, warrants	2 years 310 days
Shares, options (in shares)	868,570
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 11.25
Class of Warrant or Right, Outstanding	3,331,072

Note 3 - Schedule of Listing of

Note 3 - Schedule of Listing of Stock Options and Warrants (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2014
Stock Options 2011 [Member] | Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0.75
Stock Options 2011 [Member] | Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 11.20
Stock Options 2011 [Member]
Shares, options (in shares)	11,666
Stock Options 2012 [Member] | Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 5.25
Stock Options 2012 [Member] | Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 6
Stock Options 2012 [Member]
Shares, options (in shares)	126,029
Stock Options 2013 [Member] | Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 4.875
Stock Options 2013 [Member] | Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 23.85
Stock Options 2013 [Member]
Shares, options (in shares)	232,756
Stock Options 2014 [Member] | Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 6.50
Stock Options 2014 [Member] | Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 18.75
Stock Options 2014 [Member]
Shares, options (in shares)	59,013
Stock Options 2015 [Member] | Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 2.63
Stock Options 2015 [Member] | Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 3.45
Stock Options 2015 [Member]
Shares, options (in shares)	321,458
Stock Options 2016 [Member]
Shares, options (in shares)	117,648
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0.17
Warrants 2012 [Member] | Minimum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights
Warrants 2012 [Member]
Class of Warrant or Right, Outstanding	69,801
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 11.25
Warrants 2013 [Member] | Minimum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	3.75
Warrants 2013 [Member] | Maximum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 14.85
Warrants 2013 [Member]
Class of Warrant or Right, Outstanding	267,579
Warrants 2014 [Member] | Minimum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 9.75
Warrants 2014 [Member] | Maximum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 24.375
Warrants 2014 [Member]
Class of Warrant or Right, Outstanding	161,375
Warrants 2015 [Member] | Minimum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 4.95
Warrants 2015 [Member] | Maximum [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 9.75
Warrants 2015 [Member]
Class of Warrant or Right, Outstanding	2,832,317
Minimum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$ 0.17	$ 0.275	$ 3.2006
Class of Warrant or Right, Exercise Price of Warrants or Rights	3.75
Maximum [Member]
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	23.85	$ 5.5695	$ 13.9195
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 24.375
Shares, options (in shares)	868,570
Class of Warrant or Right, Outstanding	3,331,072
Class of Warrant or Right, Exercise Price of Warrants or Rights				$ 11.25

Note 4 - Short-term Notes Pay36

Note 4 - Short-term Notes Payable (Details Textual) - USD ($)	Aug. 31, 2015	May. 30, 2015	Mar. 31, 2016	Sep. 30, 2014	Jun. 30, 2015	Sep. 09, 2014	Aug. 31, 2014	Jul. 31, 2014	Jun. 30, 2014	Feb. 28, 2014	Jan. 31, 2014
The 2015 Convertible Notes [Member]
Class of Warrant or Right Issued During Period		0
Debt Instrument, Face Amount		$ 275,000
Proceeds from Convertible Debt		$ 250,000
The Convertible Notes [Member]
Short-term Debt			$ 0
Debt Instrument, Face Amount					$ 933,073
Debt Conversion, Converted Instrument, Amount					$ 927,663
Debt Instrument, Redemption Price, Percentage			140.00%
Debt Instrument Redemption Principal Amount	$ 933,074
Debt Instrument Redemption Premium Percentage	40.00%
Debt Instrument Redemption Price	$ 1,548,792
Debt Instrument Redemption Amount Paid to Affiliates	$ 167,031
The 2014 Convertible Notes [Member] | SOK Partners LLC [Member]
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				5,431
The 2014 Convertible Notes [Member]
Debt Instrument, Face Amount				$ 1,800,000
Debt Instrument Reduced Face Amount				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						71,257
Percentage Reduction to Debt Instrument Face Amount						11.00%
Percentage Reduction to Number of Warrants						11.00%
SOK Partners LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights						4,831			5,431
Class of Warrant or Right, Number of Securities Called by Warrants or Rights										21,538	21,538
Percentage Reduction to Number of Warrants				11.00%			11.00%	11.00%

Note 5 - Loss Per Share (Detail

Note 5 - Loss Per Share (Details Textual) - shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Options and Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,199,642	949,955
Preferred Stock 1 [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	690,527

Note 5 - Shares Used in Basic a

Note 5 - Shares Used in Basic and Diluted Loss Per Common Share Computations (Details) - USD ($)		3 Months Ended		12 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Net loss available in basic and diluted calculation		$ (2,176,369)	$ (225,795)	$ (4,790,530)
Unrealized gain from marketable securities		2,850
Comprehensive (loss)		$ (2,173,519)	$ (225,795)
Weighted average common shares outstanding-basic (in shares)		18,096,204	3,100,244
Effect of diluted stock options, warrants and preferred stock (1) (in shares)	[1]
Loss per common share-basic and diluted (in dollars per share)		$ (0.12)	$ (0.07)
[1]	The number of shares underlying options and warrants outstanding as of March 31, 2016 and March 31, 2015 are 4,199,642 and 949,955 respectively. The number of shares underlying the preferred stock as of March 31, 2016 is 690,527. The effect of the shares that would be issued upon exercise of such options, warrants and preferred stock has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive.

Note 6 - Income Taxes (Details

Note 6 - Income Taxes (Details Textual) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Domestic Tax Authority [Member]
Operating Loss Carryforwards	$ 26.5	$ 24.7
Operating Loss Carryforwards, Valuation Allowance	10.2	9.6
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	14.1	13.4
Operating Loss Carryforwards, Valuation Allowance	$ 1.1	$ 1.1

Note 6 - Components of Deferred

Note 6 - Components of Deferred Income Taxes (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Net Operating Loss	$ 11,089,000	$ 10,338,000
Other	236,000	359,000
Total Deferred Tax Asset	11,325,000	10,697,000
Less Valuation Allowance	$ 11,325,000	$ 10,697,000
Net Deferred Income Taxes

Note 7 - Rent Obligation (Detai

Note 7 - Rent Obligation (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Lessee Leasing Arrangements Operating Leases Terms of Contract Cancellation	3 years
Lessee Leasing Arrangements Operating Leases Extension Term	5 years
Operating Leases, Rent Expense	$ 16,750	$ 18,433

Note 7 - Rent Obligation (Det42

Note 7 - Rent Obligation (Details)	Mar. 31, 2016USD ($)
2,016	$ 28,500
2,017	39,000
2,018	$ 3,600

Note 8 - Related Party Transa43

Note 8 - Related Party Transactions (Details Textual) - USD ($)	Aug. 31, 2015	Feb. 04, 2014	Aug. 31, 2015	Nov. 30, 2014	Dec. 31, 2015	Jul. 31, 2014	Feb. 28, 2014	Jan. 31, 2014
Chief Executive Officer [Member] | Series A Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues		19,231
Stock Issued During Period, Value, New Issues		$ 25,000
Chief Executive Officer [Member] | Common Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		52
Chief Executive Officer [Member] | Stock Conversion from Series A Convertible Stock to Exchange Units [Member]
Conversion of Stock, Shares Converted	250
Conversion of Stock, Shares Issued	2,778
SOK Partners LLC [Member] | The Convertible Notes [Member]
Debt Instrument, Redemption Price, Percentage			140.00%
Repayments of Related Party Debt			$ 163,000
SOK Partners LLC [Member]
Equity Method Investment, Ownership Percentage						10.00%
Stock Issued During Period, Shares, New Issues	1,666,667			13,700
Stock Issued During Period, Value, New Issues					$ 13,060,880
Class of Warrant or Right, Number of Securities Called by Warrants or Rights							21,538	21,538

Note 9 - Retirement Savings P44

Note 9 - Retirement Savings Plan (Details Textual) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
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	$ 11,117	$ 8,062

Note 10 - Supplemental Cash F45

Note 10 - Supplemental Cash Flow Data (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Interest Paid	$ 0	$ 9,661

Note 11 - Subsequent Events (De

Note 11 - Subsequent Events (Details Textual) - $ / shares	Apr. 21, 2016	Apr. 06, 2016	Mar. 25, 2016	Apr. 21, 2016	Mar. 31, 2014	Mar. 31, 2016	Dec. 31, 2015	Nov. 30, 2014	Feb. 28, 2014	Jan. 31, 2014
Exchange from Series B Warrants to Warrant Shares [Member] | Exchange Offer [Member]
Common Stock, Par or Stated Value Per Share			$ 0.01
Series A Warrants [Member] | Exchange Offer [Member] | Subsequent Event [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,770,556			1,770,556
Class of Warrant or Right Exercised During Period				1,040,373
Stock Issued During Period Shares Warrants Exercised				10,454,136
Series A Warrants [Member] | Exchange Offer [Member]
Stock to be Issued for Exchange Offer, Shares, Maximum			3,157,186
Cashless Exercise of Common Stock Warrants, Total			10.05
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right			1
Series B Warrants [Member] | Exchange Offer [Member] | Subsequent Event [Member]
Cashless Exercise of Common Stock Warrants, Total		10.2
Cashless Exercised Class of Warrant Called by Each Warrant or Right		1
Stock Issued During Period, Shares, Conversion of Convertible Securities	18,059,671
Common Stock, Par or Stated Value Per Share						$ 0.01	$ 0.01	$ 0.01
Cashless Exercise of Common Stock Warrants, Total					3,333
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right						10.05
Class of Warrant or Right, Number of Securities Called by Warrants or Rights									21,538	21,538

Note 12 - Cost and Fair Values

Note 12 - Cost and Fair Values of Investment Securities Available-for-sale (Details) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Mutual Fund [Member]
Mutual Funds	$ 800,000
Mutual Funds	2,850
Mutual Funds	802,850
Mutual Funds	800,000
Mutual Funds	2,850
Mutual Funds	$ 802,850