Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2017 | Nov. 14, 2017 | |
Document Information [Line Items] | ||
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) | 6,282,761 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Balance Sheets (Curre
Condensed Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Current Assets: | ||
Cash and Cash Equivalents | $ 765,704 | $ 1,764,090 |
Certificates of Deposit | 1,224,728 | 100,000 |
Marketable Securities | 284,329 | |
Accounts Receivable | 91,708 | 38,919 |
Notes Receivable (Note 3) | 785,000 | |
Inventories | 238,889 | 272,208 |
Prepaid Expense and other assets | 196,825 | 148,637 |
Total Current Assets | 3,302,854 | 2,608,183 |
Fixed Assets, net | 99,982 | 101,496 |
Intangibles, net | 96,501 | 97,867 |
Total Assets | 3,499,337 | 2,807,546 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts Payable | 74,642 | 220,112 |
Accrued Expenses | 1,132,613 | 1,346,105 |
Deferred Revenue | 10,185 | 7,998 |
Total Current Liabilities | 1,217,440 | 1,574,215 |
Accrued Expenses | 309,649 | |
Total Liabilities | 1,217,440 | 1,883,864 |
Commitments and Contingencies | ||
Common Stock, $.01 par value, 24,000,000 authorized, 6,232,761 and 4,564,428 outstanding | 62,327 | 45,644 |
Additional paid-in capital | (54,114,771) | (47,894,196) |
Accumulated Deficit | 51,895,993 | 47,018,451 |
Accumulated Other Comprehensive Income | 1,501 | |
Total Stockholders' Equity | 2,281,897 | 923,682 |
Total Liabilities and Stockholders' Equity | 3,499,337 | 2,807,546 |
Series B Convertible Preferred Stock [Member] | ||
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Series B Convertible Preferred Stock, $.01 par value, 20,000,000 authorized, 79,246 and 79,246 outstanding | $ 792 | $ 792 |
Condensed Balance Sheets (Curr3
Condensed Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2017 | Dec. 31, 2016 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 24,000,000 | 24,000,000 |
Common stock, shares outstanding (in shares) | 6,232,761 | 4,564,428 |
Series B Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred stock, shares outstanding (in shares) | 79,246 | 79,246 |
Condensed Statements of Operati
Condensed Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Revenue | $ 152,535 | $ 134,605 | $ 434,523 | $ 316,931 |
Cost of goods sold | 28,706 | 26,481 | 87,709 | 149,130 |
Gross margin | 123,829 | 108,124 | 346,814 | 167,801 |
General and administrative expense | 621,716 | 733,074 | 3,968,493 | 4,684,130 |
Operations expense | 192,536 | 292,856 | 575,467 | 928,062 |
Sales and marketing expense | 301,672 | 137,784 | 680,396 | 348,848 |
Interest expense | 3 | 3 | ||
Total Expense | 1,115,924 | 1,163,717 | 5,224,356 | 5,961,043 |
Net loss available to common shareholders | (992,095) | (1,055,593) | (4,877,542) | (5,793,242) |
Unrealized gain from marketable securities | (1,299) | 4,579 | ||
Comprehensive (loss) | $ (992,095) | $ (1,056,892) | $ (4,877,542) | $ (5,788,663) |
Loss per common share - basic and diluted (in dollars per share) | $ (0.16) | $ (0.32) | $ (0.78) | $ (2.57) |
Weighted average shares used in computation - basic and diluted (in shares) | 6,232,761 | 3,320,139 | 6,283,567 | 2,250,315 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Unaudited) - USD ($) | Series A Warrants [Member]Common Stock [Member] | Series A Warrants [Member]Additional Paid-in Capital [Member] | Series A Warrants [Member] | Series B Warrants [Member]Common Stock [Member] | Series B Warrants [Member]Additional Paid-in Capital [Member] | Series B Warrants [Member] | Investment Banker [Member]Common Stock [Member] | Investment Banker [Member]Additional Paid-in Capital [Member] | Investment Banker [Member] | Investor Relations Consultant [Member]Common Stock [Member] | Investor Relations Consultant [Member]Additional Paid-in Capital [Member] | Investor Relations Consultant [Member] | GLG Pharma, LLC. [Member]Common Stock [Member] | GLG Pharma, LLC. [Member] | Former CEO [Member]Common Stock [Member] | Former CEO [Member]Additional Paid-in Capital [Member] | Former CEO [Member] | The 2016 Registered Direct Offering [Member]Common Stock [Member] | The 2016 Registered Direct Offering [Member]Additional Paid-in Capital [Member] | The 2016 Registered Direct Offering [Member] | Over-Allotment Option [Member]Common Stock [Member] | Over-Allotment Option [Member]Additional Paid-in Capital [Member] | Over-Allotment Option [Member] | Consulting Agreement One [Member]Preferred Stock [Member] | Consulting Agreement One [Member]Common Stock [Member] | Consulting Agreement One [Member]Additional Paid-in Capital [Member] | Consulting Agreement One [Member]Retained Earnings [Member] | Consulting Agreement One [Member]AOCI Attributable to Parent [Member] | Consulting Agreement One [Member] | Consulting Agreement Two [Member]Preferred Stock [Member] | Consulting Agreement Two [Member]Common Stock [Member] | Consulting Agreement Two [Member]Additional Paid-in Capital [Member] | Consulting Agreement Two [Member]Retained Earnings [Member] | Consulting Agreement Two [Member]AOCI Attributable to Parent [Member] | Consulting Agreement Two [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2015 | $ 18,950 | $ 2,080 | $ 44,584,118 | $ (40,492,437) | $ 4,112,711 | ||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2015 | 208,259 | ||||||||||||||||||||||||||||||||||||||||
Shares issued for two options exercised at $65.75 per share (in shares) | 1,312 | ||||||||||||||||||||||||||||||||||||||||
Shares issued for two options exercised at $65.75 per share | $ 13 | 86,240 | 86,253 | ||||||||||||||||||||||||||||||||||||||
Shares issued for preferred stock conversion into common stock per the break-up of the Unit from the 2015 public offering | (18,158) | $ 664 | 17,494 | 0 | |||||||||||||||||||||||||||||||||||||
Shares issued for preferred stock conversion into common stock per the break-up of the Unit from the 2015 public offering (in shares) | 66,396 | ||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercises (in shares) | 2,318,663 | 628,237 | |||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercises | $ 23,187 | $ 556,479 | $ 579,666 | $ 6,282 | $ 150,777 | $ 157,059 | |||||||||||||||||||||||||||||||||||
Shares issued for services (in shares) | 135,995 | ||||||||||||||||||||||||||||||||||||||||
Shares issued for services | $ 1,360 | $ 508,620 | $ 509,980 | ||||||||||||||||||||||||||||||||||||||
Shares Issued (in shares) | 26,000 | 400,000 | 20,000 | 756,999 | |||||||||||||||||||||||||||||||||||||
Shares Issued | $ 260 | $ 116,740 | $ 117,000 | $ 4,000 | $ 4,000 | $ 200 | $ 90,151 | $ 90,351 | $ 7,570 | $ 1,618,335 | $ 1,625,905 | ||||||||||||||||||||||||||||||
Vesting Expense | 165,271 | 165,271 | |||||||||||||||||||||||||||||||||||||||
Unrealized gain from marketable securities | $ 1,501 | 1,501 | |||||||||||||||||||||||||||||||||||||||
Corrections due to rounding for reverse split and DTCC increase (in shares) | 2,567 | ||||||||||||||||||||||||||||||||||||||||
Corrections due to rounding for reverse split and DTCC increase | $ 28 | (29) | (1) | ||||||||||||||||||||||||||||||||||||||
Net loss | (6,526,014) | (6,526,014) | |||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2016 | 792 | $ 45,644 | 47,894,196 | (47,018,451) | 1,501 | 923,682 | |||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2016 | 4,564,428 | ||||||||||||||||||||||||||||||||||||||||
Shares issued for services (in shares) | 100,000 | 43,333 | |||||||||||||||||||||||||||||||||||||||
Shares issued for services | $ 1,000 | $ 219,000 | $ 220,000 | $ 433 | $ 63,699 | $ 64,132 | |||||||||||||||||||||||||||||||||||
Shares Issued (in shares) | 175,000 | 1,750,000 | |||||||||||||||||||||||||||||||||||||||
Shares Issued | $ 1,750 | $ 392,000 | $ 393,750 | $ 17,500 | 3,403,688 | 3,421,188 | |||||||||||||||||||||||||||||||||||
Vesting Expense | 2,142,189 | 2,142,189 | |||||||||||||||||||||||||||||||||||||||
Unrealized gain from marketable securities | (1,501) | ||||||||||||||||||||||||||||||||||||||||
Net loss | (4,877,542) | (4,877,542) | |||||||||||||||||||||||||||||||||||||||
Reverse shares issued for escrow with GLG Pharma pursuant to termination agreement | $ (4,000) | (4,000) | |||||||||||||||||||||||||||||||||||||||
Reverse shares issued for escrow with GLG Pharma pursuant to termination agreement (in shares) | (400,000) | ||||||||||||||||||||||||||||||||||||||||
Balance at Sep. 30, 2017 | $ 792 | $ 62,327 | $ 54,114,771 | $ (51,895,993) | $ 2,281,897 | ||||||||||||||||||||||||||||||||||||
Balance (in shares) at Sep. 30, 2017 | 6,232,761 |
Statement of Stockholders' Equ6
Statement of Stockholders' Equity (Unaudited) (Parentheticals) - $ / shares | 12 Months Ended | |
Dec. 31, 2016 | Aug. 31, 2015 | |
Investment Banker [Member] | ||
Price of shares issued (in dollars per share) | $ 3.75 | |
Investor Relations Consultant [Member] | ||
Price of shares issued (in dollars per share) | 4.50 | |
Former CEO [Member] | ||
Price of shares issued (in dollars per share) | 4.50 | |
Options exercise price (in dollars per share) | $ 65.75 | |
Price of shares issued (in dollars per share) | $ 9 |
Condensed Statements of Cash Fl
Condensed Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Cash flow from operating activities: | ||
Net loss | $ (4,877,542) | $ (5,793,242) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 53,831 | 62,427 |
Vested stock options and warrants | 2,142,189 | 147,158 |
Equity instruments issued for management and consulting | 280,133 | 717,331 |
Issuance of common stock in cashless warrant exercise | 736,724 | |
Loss on Sales of Equipment | (2,387) | |
Gain from sale of marketable securities | (1,837) | (2,309) |
Changes in assets and liabilities: | ||
Accounts receivable | (52,789) | (6,734) |
Inventories | 33,319 | (57,509) |
Prepaid expense and other assets | (48,188) | 108,391 |
Accounts payable | (145,470) | (2,352) |
Accrued expenses | (523,142) | 388,195 |
Deferred Revenue | 2,187 | |
Net cash provided in operating activities: | (3,137,309) | (3,704,307) |
Cash flow from investing activities: | ||
Purchase of marketable securities | (850,000) | |
Proceeds from sale of marketable securities | 284,665 | 280,000 |
Purchase of certificates of deposit | (2,594,728) | (1,000,000) |
Redemption of certificates of deposit | 1,470,000 | 1,000,000 |
Advances of notes receivable | (785,000) | |
Purchase of fixed assets | (43,251) | (25,127) |
Purchase of intangibles | (7,701) | (8,573) |
Net cash used in investing activities: | (1,676,015) | (603,700) |
Cash flow from financing activities: | ||
Issuance of common stock | 3,814,938 | 86,253 |
Net cash provided by financing activities | 3,814,938 | 86,253 |
Net increase (decrease) in cash | (998,386) | (4,221,754) |
Cash at beginning of period | 1,764,090 | 4,856,232 |
Cash at end of period | $ 765,704 | $ 634,478 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Nature of Operations and Continuance of Operations Skyline Medical Inc. (the "Company") was incorporated under the laws of the State of Minnesota in 2002. August 6, 2013, September 30, 2017, 6,232,761 $.01 1 25 October 27, 2016. December 16, 2013, April 2009, 510 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 not Since inception to September 30, 2017, $27,765,934 $2,055,000 $13,555,003 2015, $1,739,770 2016, $3,421,188 first 2017, $358,312 175,000 35,000 $5,685,000 On August 9, 2017, November 2017, Recent Accounting Developments In May 2014, 2014 09, Revenue from Contracts with Customers 606, 2015 14, “Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” 2016 10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing,” 2016 12, “Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients.” December 15, 2017, not two 606. January 1, 2018, not In June 2014, 2014 12, "Compensation - Stock Compensation" In August 2014, 2014 15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern December 15, 2016, first 2017. In April 2015, 2015 03, Simplifying the Presentation of Debt Issuance Costs 2015 03 In July 2015, No. 2015 11 , Inventory (Topic 330 December 15, 2016, In November 2015, 2015 17, “Income Taxes (Topic 740 December 15, 2016 In January 2016, No. 2016 01, “Financial Instruments-Overall (Subtopic 825 10 2016 01” not not December 15, 2017, not In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. In March 2016, No. 2016 09, Compensation - Stock Compensation (Topic 718 2016 09” 2016 09 December 15, 2016. During August 2016, No. 2016 15, “Statement of Cash Flows (Topic 230 December 15, 2017, not 2016 15 We reviewed all other significant newly issued accounting pronouncements and determined they are either not no Valuation of Intangible Assets We review identifiable intangible assets for impairment in accordance with ASC 350 may not may not not 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 $7,230 $28,910 three nine September 30, 2017 $10,343 $57,004 three nine September 30, 2016, Research and Development Research and development costs are charged to operations as incurred. Research and development expenses were $69,499 $223,958 three nine September 30, 2017 $79,936 $302,330 three nine September 30, 2016, Revenue Recognition The Company recognizes revenue in accordance with the SEC’s Staff Accounting Bulletin Topic 13 605 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 SYSTEM 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 one may Cash Equivalents The Company considers all highly liquid debt instruments with a maturity of three Certificates of Deposit Short-term interest-bearing investments are those with maturities of less than one three one 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 820, 820 three Level 1 Level 2 Level 3 no 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 was determined based on Level 1 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 Inventories Inventories are stated at the lower of cost or market, with cost determined on a first first September 30, December 31, Finished goods $ 28,441 $ 38,201 Raw materials 163,295 165,812 Work-In-Process 47,153 68,195 Total $ 238,889 $ 272,208 Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing tooling 3 - 7 Demo Equipment 3 The Company’s investment in Fixed Assets consists of the following: September 30, December 31, Computers and office equipment $ 182,686 $ 164,318 Leasehold improvements 25,635 25,635 Manufacturing tooling 107,955 103,204 Demo equipment 43,367 23,236 Total 359,643 316,393 Less: Accumulated depreciation 259,661 214,897 Total Fixed Assets, Net $ 99,982 $ 101,496 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. Depreciation expense was $14,561 $44,764 three nine September 30, 2017, $17,782 $56,202 three nine September 30, 2016, Intangible Assets Intangible assets consist of trademarks and patent costs. Amortization expense was $3,276 $9,067 three nine September 30, 2017, $2,515 $6,225 three nine September 30, 2016, Income Taxes The Company accounts for income taxes in accordance with ASC 740 740” 740, There is no 100% 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 no Tax years subsequent to 2013 Summary of Significant Accounting Policies In March 2016, 2016 09, 2016 09 December 15, 2016, not 2016 09, first 2017. The adoption of ASU 2016 09 no no Income Tax Balance Sheet Classification In November 2015, 2015 17, 740 December 15, 2016 2015 17 first 2017 not Patents and Intellectual Property On January 25th, 2014, No. PCT/US2014/013081 61756763 one January 25th, 2013. 148 Our PCT patent application is for the enhanced 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 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 No. US20090216205 August 8, 2023. In July 2015, 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 $0.6 Product Warranty Costs In the three nine September 30, 2017, $204 $5,216 $2,102 $33,083 three nine September 30, 2016, Segments The Company operates in two three nine September 30, 2017 2016 first March 2017. Risks and Uncertainties The Company is subject to risks common to companies in the medical device industry, including, but not 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 March 15, 2017. may not |
Note 2 - Stockholders' Equity,
Note 2 - Stockholders' Equity, Stock Options and Warrants | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 2 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. 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 three ten 2015 On August 31, 2015 ( 1,666,667 $9.00 $8.28 $0.72 8.00% $13.8 45 250,000 not 1% $70,000. On August 31, 2015, 228,343 1,895,010 75,801 1,895,010 7,580,040 Each Unit consisted of one $0.01 one four 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 August 31, 2020. one $123.75 Holders may Total Shares = (A x 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 no may $0.43 The Black-Scholes Value (as defined above) as of September 30, 2016, $4.319, September 30, 2016, $4.125. 40 6,141,115 September 30, 2016, 2,318,663 35,084 August 31, 2015 two $0.43 $4.319 September 30, 2016), 564 no The Series A Warrants will not 4.99% 13 1934, In addition to (but not three 1 2 Unit Purchase Option. August 31, 2015 ( 5% 83,333 125% $11.25 May 2016 135,995 Series B Preferred Stock. one six not 4.99% no No Unit Exchange. February 4, 2014, $2,055,000 20,550 $0.01, $100 February 4, 2014. August 31, 2015, 228,343 3,991 3 9 August 31, 2015, no Redemption of Convertible Notes. $933,074 40% $1,548,792. 4. $167,031 Registered Exchange Offer for Warrants. March 25, 2016, $0.01 3,157,186 March 31, 2016, 10.05 may one 10.2 one April 21, 2016. 1,770,556 18,059,671 March 31, 2016 July 6, 2016 1,251,510 20,122 2016 On November 29, 2016, $1,983,337. 756,999 $2.62 five 756,999 six $4.46 $1,739,770. 2017 On January 13, 2017, 1,750,000 $2.25 one 0.2 one $2.25 $3,937,500 45 175,000 35,000 $0.01 January 19, 2017. February 22, 2017, $358,312. Accounting for share-based payment The Company has adopted ASC 718 718" 718 January 1, 2006 January 1, 2006. January 1, 2006, not ASC 718 Since the Company's common stock has no no 2 7 15 10 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 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 2015, $487.50 $243.75 125 16 On March 31, 2015, 6% $243.75 125 16 On June 30, 2015, 6% $243.75 125 16 For grants of stock options and warrants in 2015 1.63% 2.35% 0% 59% 66% 5 10 $6.875 $139.2375 On March 25, 2016, April 20, 2016, On July 1, 2016, 40,000 $0.01 $3.75 six fifth sixth On October 4, 2016, 400,000 $0.01, For grants of stock options and warrants in 2016 1.46% 2.45% 0% 59% 66% 5 10 $1.6329 $3.7195 On April 19,2017, 400,000 $.01, For grants of stock option and warrants in 2017 1.92% 2.40% 0% 59% 66% 5 10 $1.0293 $1.5489 The following summarizes transactions for stock options and warrants for the periods indicated: Stock Options Warrants Number of Average Number of Average Outstanding at December 31, 2015 31,350 $ 133.23 323,099 $ 128.40 Issued 157,982 3.14 1,487,881 0.71 Expired (22,377 ) 122.13 - - Exercised (1,312 ) 65.75 (939,879 ) - Outstanding at December 31, 2016 165,643 $ 11.22 871,101 $ 52.22 Issued 2,459,368 1.47 385,000 2.25 Expired (12,730 ) 10.39 (1,533 ) 281.60 Exercised - - - - Outstanding at September 30, 2017 2,612,281 $ 2.05 1,254,568 $ 36.60 At September 30, 2017, 46,537 $30.00 6.59 1,254,568 nine September 2017 September 2016 7,908 $147,158, $2,901,348 24 The following summarizes the status of options and warrants outstanding at September 30, 2017: Range of Prices Shares Weighted Remaining Life Options $ 1.454 17,200 10.00 $ 1.47 2,427,882 9.73 $ 2.10 14,286 9.50 $ 2.25 293 8.90 $ 2.42 24,768 8.76 $ 2.80 57,145 9.26 $ 3.75 44,000 8.76 $ 4.125 3,636 9.01 $ 4.1975 7,147 8.97 $ 4.25 3,529 8.50 $ 5.125 3,902 8.94 $ 65.75 190 7.86 $ 73.50 1,157 8.26 $ 77.50 2,323 7.75 $ 80.25 187 8.01 $ 86.25 232 7.50 $ 131.25 81 4.94 $ 148.125 928 5.47 $ 150.00 1,760 4.88 $ 162.50 123 7.26 $ 206.25 121 7.01 $ 248.4375 121 5.79 $ 262.50 130 5.79 $ 281.25 529 5.30 $ 318.75 3 5.60 $ 346.875 72 6.50 $ 431.25 306 6.44 $ 506.25 188 6.25 $ 596.25 42 6.00 2,612,281 Warrants $ 2.25 385,000 4.32 $ 4.46 756,999 4.17 $ 93.75 2,255 0.45 $ 123.75 94,084 2.92 $ 150.00 4,114 0.45 $ 225.00 107 0.32 $ 243.75 2,529 1.84 $ 281.25 4,364 0.32 $ 309.375 2,850 1.86 $ 309.50 222 2.10 $ 337.50 178 0.72 $ 371.25 944 0.66 $ 506.25 59 1.38 $ 609.375 862 1.34 1,254,568 Stock options and warrants expire on various dates from November 2017 September 2027. At a special meeting of stockholders held on September 15, 2016, 100,000,000 200,000,000 September 16, 2016, October 26, 2016, one twenty-five 1:25 200,000,000 8,000,000 5:00 October 27, 2016, October 28, 2016. The Company’s board of directors had determined the Company may January 29, 2017. 8,000,000 24,000,000 Stock Options and Warrants Granted by the Company The following table is the listing of stock options and warrants as of September 30, 2017, Stock Options: Year Shares Price 2011 173 $281.25 2012 1,841 131.25 – 150.00 2013 1,553 148.13 – 596.25 2014 835 162.50 – 431.25 2015 4,088 65.75 – 86.25 2016 144,423 2.25 – 5.13 2017 2,459,368 1.45 – 2.10 Total 2,612,281 $1.45 – 596.25 Warrants: Year Shares Price 2012 1,259 $281.25 2013 10,703 93.75 - 371.25 2014 6,455 243.75 – 609.38 2015 94,152 0.00 – 243.75 2016 756,999 4.46 2017 385,000 2.25 Total 1,254,568 $0.00 – 609.38 |
Note 3 - Notes Receivable
Note 3 - Notes Receivable | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 3 In July 2017, 8% December 31, 2017. $785,000 September 30, 2017. $285,000, $1,070,000. |
Note 4 - Short-term Notes Payab
Note 4 - Short-term Notes Payable | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | NOTE 4 From July September 2014, $1.8 $1.6 “2014 $1,475,000. $122,196 2014 5,431 $100,000. April May 2015, $275,000 $250,000, 2014 “2015 2014 No 2015 Under a provision in the existing agreements, upon effectiveness of a resale registration statement covering certain shares, on September 9, 2014, 11%, $1,603,260 11%, 2,851 In connection with the Offering, the holders of the Convertible Notes agreed to not 140% August 31, 2015, $933,074 40% $1,548,792. $167,031 September 30, 2017, none |
Note 5 - Loss Per Share
Note 5 - Loss Per Share | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 5 The following table presents the shares used in the basic and diluted loss per common share computations: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Numerator Net loss available in basic and diluted calculation $ (992,095 ) $ (1,055,593 ) $ (4,877,542 ) $ (5,793,242 ) Other comprehensive income: Unrealized gain from marketable securities - (1,299 ) - 4,579 Comprehensive (loss) (992,095 ) (1,056,892 ) (4,877,542 ) (5,788,663 ) Denominator: Weighted average common shares outstanding-basic 6,232,761 3,320,139 6,283,567 2,250,315 Effect of diluted stock options, warrants and preferred stock (1) - - - - Weighted average common shares outstanding-basic 6,232,761 3,320,139 6,283,567 2,250,315 Loss per common share-basic and diluted $ (0.16 ) $ (0.32 ) $ (0.78 ) $ (2.57 ) ( 1 September 30, 2017, September 30, 2016 3,866,849 222,600 September 30, 2017, 79,246. |
Note 6 - Income Taxes
Note 6 - Income Taxes | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 6 The provision for income taxes consists of an amount for taxes currently payable and a provision for tax consequences deferred to future periods. Deferred income taxes are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which whose temporary differences are expected to be recovered or settled. There is no 100% During September 2013, 382 may September 2013, not At December 31, 2016, $30.9 2017, 382 2022 $13.0 December 31, 2016. 2017 December 31, 2016, $10.7 $0.2 At September 30, 2017, $33.2 2017, 382 2022 $12.2 September 30, 2017. 2017 September 30, 2017, $11.7 $0.3 The valuation allowance has been recorded due to the uncertainty of realization of the benefits associated with the net operating losses. Future events and changes in circumstances could cause this valuation allowance to change. The components of deferred income taxes at September 30, 2017 December 31, 2016 September 30, December 31, Deferred Tax Asset: Net Operating Loss $ 11,488,000 $ 10,755,000 Other 515,000 189,000 Total Deferred Tax Asset 12,003,000 10,944,000 Less Valuation Allowance 12,003,000 10,944,000 Net Deferred Income Taxes $ — $ — |
Note 7 - Rent Obligation
Note 7 - Rent Obligation | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | NOTE 7 The Company leases its principal office under a lease that can be cancelled after three five January 2018. $16,676 $49,685 three nine September 30, 2017 $16,356 $50,106 three nine September 30, 2016, The Company’s rent obligation for the next two 2017 $ 9,750 2018 $ 3,000 |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 8 The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company may One of the Company’s directors, Richard L. Gabriel, is the Chief Operating Officer and serves as a director of GLG Pharma (“GLG”). Another Company director, Tim Krochuk, is on the supervisory board for GLG. In September 20, 2016, 400,000 four 100,000 November 1, 2016, November 2, 2016, April 2017, |
Note 9 - Retirement Savings Pla
Note 9 - Retirement Savings Plan | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 9 We have a pre-tax salary reduction/profit-sharing plan under the provisions of Section 401 2017 2016, 100% 4% $7,724 $25,100 three nine September 30, 2017 $7,401 $28,196 three nine September 30, 2016, |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 9 Months Ended |
Sep. 30, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 10 In November 2017, two August 9, 2017 In November 2017, two 51% 49%. November 2017, $175,000 8% April 30, 2018. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2017 | |
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. August 6, 2013, September 30, 2017, 6,232,761 $.01 1 25 October 27, 2016. December 16, 2013, April 2009, 510 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 not Since inception to September 30, 2017, $27,765,934 $2,055,000 $13,555,003 2015, $1,739,770 2016, $3,421,188 first 2017, $358,312 175,000 35,000 $5,685,000 On August 9, 2017, November 2017, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Developments In May 2014, 2014 09, Revenue from Contracts with Customers 606, 2015 14, “Revenue from Contracts with Customers: Principal versus Agent Considerations (Reporting Revenue Gross versus Net),” 2016 10, “Revenue from Contracts with Customers: Identifying Performance Obligations and Licensing,” 2016 12, “Revenue from Contracts with Customers: Narrow-Scope Improvements and Practical Expedients.” December 15, 2017, not two 606. January 1, 2018, not In June 2014, 2014 12, "Compensation - Stock Compensation" In August 2014, 2014 15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern December 15, 2016, first 2017. In April 2015, 2015 03, Simplifying the Presentation of Debt Issuance Costs 2015 03 In July 2015, No. 2015 11 , Inventory (Topic 330 December 15, 2016, In November 2015, 2015 17, “Income Taxes (Topic 740 December 15, 2016 In January 2016, No. 2016 01, “Financial Instruments-Overall (Subtopic 825 10 2016 01” not not December 15, 2017, not In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. In March 2016, No. 2016 09, Compensation - Stock Compensation (Topic 718 2016 09” 2016 09 December 15, 2016. During August 2016, No. 2016 15, “Statement of Cash Flows (Topic 230 December 15, 2017, not 2016 15 We reviewed all other significant newly issued accounting pronouncements and determined they are either not no |
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 may not may not not |
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 $7,230 $28,910 three nine September 30, 2017 $10,343 $57,004 three nine September 30, 2016, |
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 $69,499 $223,958 three nine September 30, 2017 $79,936 $302,330 three nine September 30, 2016, |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company recognizes revenue in accordance with the SEC’s Staff Accounting Bulletin Topic 13 605 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 SYSTEM 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 one may |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents The Company considers all highly liquid debt instruments with a maturity of three |
Certificates of Deposit Policy [Policy Text Block] | Certificates of Deposit Short-term interest-bearing investments are those with maturities of less than one three one |
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 820, 820 three Level 1 Level 2 Level 3 no 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 was determined based on Level 1 |
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 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or market, with cost determined on a first first September 30, December 31, Finished goods $ 28,441 $ 38,201 Raw materials 163,295 165,812 Work-In-Process 47,153 68,195 Total $ 238,889 $ 272,208 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing tooling 3 - 7 Demo Equipment 3 The Company’s investment in Fixed Assets consists of the following: September 30, December 31, Computers and office equipment $ 182,686 $ 164,318 Leasehold improvements 25,635 25,635 Manufacturing tooling 107,955 103,204 Demo equipment 43,367 23,236 Total 359,643 316,393 Less: Accumulated depreciation 259,661 214,897 Total Fixed Assets, Net $ 99,982 $ 101,496 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. Depreciation expense was $14,561 $44,764 three nine September 30, 2017, $17,782 $56,202 three nine September 30, 2016, |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of trademarks and patent costs. Amortization expense was $3,276 $9,067 three nine September 30, 2017, $2,515 $6,225 three nine September 30, 2016, |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with ASC 740 740” 740, There is no 100% 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 no Tax years subsequent to 2013 |
Newly Adopted Accounting Standards, Policy [Policy Text Block] | Summary of Significant Accounting Policies In March 2016, 2016 09, 2016 09 December 15, 2016, not 2016 09, first 2017. The adoption of ASU 2016 09 no no Income Tax Balance Sheet Classification In November 2015, 2015 17, 740 December 15, 2016 2015 17 first 2017 not |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Patents and Intellectual Property On January 25th, 2014, No. PCT/US2014/013081 61756763 one January 25th, 2013. 148 Our PCT patent application is for the enhanced 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 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 No. US20090216205 August 8, 2023. In July 2015, |
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 $0.6 |
Standard Product Warranty, Policy [Policy Text Block] | Product Warranty Costs In the three nine September 30, 2017, $204 $5,216 $2,102 $33,083 three nine September 30, 2016, |
Segment Reporting, Policy [Policy Text Block] | Segments The Company operates in two three nine September 30, 2017 2016 first March 2017. |
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 |
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 March 15, 2017. may not |
Note 1 - Summary of Significa19
Note 1 - Summary of Significant Accounting Policies (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, December 31, Finished goods $ 28,441 $ 38,201 Raw materials 163,295 165,812 Work-In-Process 47,153 68,195 Total $ 238,889 $ 272,208 |
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] | September 30, December 31, Computers and office equipment $ 182,686 $ 164,318 Leasehold improvements 25,635 25,635 Manufacturing tooling 107,955 103,204 Demo equipment 43,367 23,236 Total 359,643 316,393 Less: Accumulated depreciation 259,661 214,897 Total Fixed Assets, Net $ 99,982 $ 101,496 |
Note 2 - Stockholders' Equity20
Note 2 - Stockholders' Equity, Stock Options and Warrants (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Stock Options Warrants Number of Average Number of Average Outstanding at December 31, 2015 31,350 $ 133.23 323,099 $ 128.40 Issued 157,982 3.14 1,487,881 0.71 Expired (22,377 ) 122.13 - - Exercised (1,312 ) 65.75 (939,879 ) - Outstanding at December 31, 2016 165,643 $ 11.22 871,101 $ 52.22 Issued 2,459,368 1.47 385,000 2.25 Expired (12,730 ) 10.39 (1,533 ) 281.60 Exercised - - - - Outstanding at September 30, 2017 2,612,281 $ 2.05 1,254,568 $ 36.60 |
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 $ 1.454 17,200 10.00 $ 1.47 2,427,882 9.73 $ 2.10 14,286 9.50 $ 2.25 293 8.90 $ 2.42 24,768 8.76 $ 2.80 57,145 9.26 $ 3.75 44,000 8.76 $ 4.125 3,636 9.01 $ 4.1975 7,147 8.97 $ 4.25 3,529 8.50 $ 5.125 3,902 8.94 $ 65.75 190 7.86 $ 73.50 1,157 8.26 $ 77.50 2,323 7.75 $ 80.25 187 8.01 $ 86.25 232 7.50 $ 131.25 81 4.94 $ 148.125 928 5.47 $ 150.00 1,760 4.88 $ 162.50 123 7.26 $ 206.25 121 7.01 $ 248.4375 121 5.79 $ 262.50 130 5.79 $ 281.25 529 5.30 $ 318.75 3 5.60 $ 346.875 72 6.50 $ 431.25 306 6.44 $ 506.25 188 6.25 $ 596.25 42 6.00 2,612,281 Warrants $ 2.25 385,000 4.32 $ 4.46 756,999 4.17 $ 93.75 2,255 0.45 $ 123.75 94,084 2.92 $ 150.00 4,114 0.45 $ 225.00 107 0.32 $ 243.75 2,529 1.84 $ 281.25 4,364 0.32 $ 309.375 2,850 1.86 $ 309.50 222 2.10 $ 337.50 178 0.72 $ 371.25 944 0.66 $ 506.25 59 1.38 $ 609.375 862 1.34 1,254,568 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Stock Options: Year Shares Price 2011 173 $281.25 2012 1,841 131.25 – 150.00 2013 1,553 148.13 – 596.25 2014 835 162.50 – 431.25 2015 4,088 65.75 – 86.25 2016 144,423 2.25 – 5.13 2017 2,459,368 1.45 – 2.10 Total 2,612,281 $1.45 – 596.25 Warrants: Year Shares Price 2012 1,259 $281.25 2013 10,703 93.75 - 371.25 2014 6,455 243.75 – 609.38 2015 94,152 0.00 – 243.75 2016 756,999 4.46 2017 385,000 2.25 Total 1,254,568 $0.00 – 609.38 |
Note 5 - Loss Per Share (Tables
Note 5 - Loss Per Share (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Numerator Net loss available in basic and diluted calculation $ (992,095 ) $ (1,055,593 ) $ (4,877,542 ) $ (5,793,242 ) Other comprehensive income: Unrealized gain from marketable securities - (1,299 ) - 4,579 Comprehensive (loss) (992,095 ) (1,056,892 ) (4,877,542 ) (5,788,663 ) Denominator: Weighted average common shares outstanding-basic 6,232,761 3,320,139 6,283,567 2,250,315 Effect of diluted stock options, warrants and preferred stock (1) - - - - Weighted average common shares outstanding-basic 6,232,761 3,320,139 6,283,567 2,250,315 Loss per common share-basic and diluted $ (0.16 ) $ (0.32 ) $ (0.78 ) $ (2.57 ) |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | September 30, December 31, Deferred Tax Asset: Net Operating Loss $ 11,488,000 $ 10,755,000 Other 515,000 189,000 Total Deferred Tax Asset 12,003,000 10,944,000 Less Valuation Allowance 12,003,000 10,944,000 Net Deferred Income Taxes $ — $ — |
Note 7 - Rent Obligation (Table
Note 7 - Rent Obligation (Tables) | 9 Months Ended |
Sep. 30, 2017 | |
Notes Tables | |
Schedule of Rent Expense [Table Text Block] | 2017 $ 9,750 2018 $ 3,000 |
Note 1 - Summary of Significa24
Note 1 - Summary of Significant Accounting Policies (Details Textual) | Feb. 22, 2017USD ($) | Jan. 19, 2017shares | Nov. 29, 2016USD ($) | Oct. 27, 2016 | Aug. 31, 2015USD ($) | Sep. 30, 2017USD ($)$ / sharesshares | Sep. 30, 2016USD ($) | Sep. 30, 2017USD ($)$ / sharesshares | Sep. 30, 2016USD ($) | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($)$ / sharesshares | Mar. 31, 2017USD ($) | Sep. 30, 2017USD ($)$ / sharesshares | Apr. 19, 2017$ / shares | Oct. 04, 2016$ / shares |
Common Stock, Shares, Outstanding | shares | 6,232,761 | 6,232,761 | 4,564,428 | 4,564,428 | 6,232,761 | |||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||
Stockholders' Equity, Period Increase (Decrease) | $ 27,765,934 | |||||||||||||||
Stock Issued During Period, Value, New Issues | 3,421,188 | |||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 13,800,000 | |||||||||||||||
Debt Instrument, Increase (Decrease), Net | $ 5,685,000 | |||||||||||||||
Advertising Expense | $ 7,230 | $ 10,343 | 28,910 | $ 57,004 | ||||||||||||
Research and Development Expense | 69,499 | 79,936 | 223,958 | 302,330 | ||||||||||||
Depreciation | 14,561 | 17,782 | 44,764 | 56,202 | ||||||||||||
Amortization of Intangible Assets | 3,276 | 2,515 | 9,067 | 6,225 | ||||||||||||
Income Tax Expense (Benefit) | $ 0 | |||||||||||||||
Valuation Allowance Percentage | 100.00% | |||||||||||||||
Unrecognized Tax Benefits | 0 | $ 0 | 0 | |||||||||||||
Cash, Uninsured Amount | 600,000 | 600,000 | 600,000 | |||||||||||||
Product Warranty Expense | $ 204 | $ 2,102 | $ 5,216 | $ 33,083 | ||||||||||||
Number of Operating Segments | 2 | |||||||||||||||
Earliest Tax Year [Member] | ||||||||||||||||
Open Tax Year | 2,013 | |||||||||||||||
IPO [Member] | ||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 13,555,003 | $ 3,421,188 | ||||||||||||||
The 2016 Registered Direct Offering [Member] | ||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 1,625,905 | |||||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ 1,739,770 | $ 1,739,770 | ||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 1,983,337 | |||||||||||||||
Over-Allotment Option [Member] | ||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 393,750 | |||||||||||||||
Proceeds from Issuance or Sale of Equity | $ 358,312 | |||||||||||||||
Sale of Stock, Underwriter Option, Maximum Additional Shares of Common Stock Available for Purchase | shares | 175,000 | |||||||||||||||
Sale of Stock, Underwriter Option, Number of Securities Called by Maximum Additional Warrants Available for Purchase | shares | 35,000 | |||||||||||||||
Series A Convertible Preferred Stock [Member] | Private Placement [Member] | ||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 2,055,000 | |||||||||||||||
Reverse Stock Split [Member] | ||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 25 |
Note 1 - Summary of Significa25
Note 1 - Summary of Significant Accounting Policies - Schedule of Inventory (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Finished goods | $ 28,441 | $ 38,201 |
Raw materials | 163,295 | 165,812 |
Work-In-Process | 47,153 | 68,195 |
Total | $ 238,889 | $ 272,208 |
Note 1 - Summary of Significa26
Note 1 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment, Useful Life (Details) | 9 Months Ended |
Sep. 30, 2017 | |
Leasehold Improvements [Member] | |
Property, plant, and equipment, useful life (Year) | 5 years |
Demo Equipment [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Minimum [Member] | Office Equipment [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Minimum [Member] | Manufacturing Tooling [Member] | |
Property, plant, and equipment, useful life (Year) | 3 years |
Maximum [Member] | Office Equipment [Member] | |
Property, plant, and equipment, useful life (Year) | 7 years |
Maximum [Member] | Manufacturing Tooling [Member] | |
Property, plant, and equipment, useful life (Year) | 7 years |
Note 1 - Summary of Significa27
Note 1 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment (Details) - USD ($) | Sep. 30, 2017 | Dec. 31, 2016 |
Property, Plant, and Equipment Gross | $ 359,643 | $ 316,393 |
Less: Accumulated depreciation | 259,661 | 214,897 |
Total Fixed Assets, Net | 99,982 | 101,496 |
Office Equipment [Member] | ||
Property, Plant, and Equipment Gross | 182,686 | 164,318 |
Leasehold Improvements [Member] | ||
Property, Plant, and Equipment Gross | 25,635 | 25,635 |
Manufacturing Tooling [Member] | ||
Property, Plant, and Equipment Gross | 107,955 | 103,204 |
Demo Equipment [Member] | ||
Property, Plant, and Equipment Gross | $ 43,367 | $ 23,236 |
Note 2 - Stockholders' Equity28
Note 2 - Stockholders' Equity, Stock Options and Warrants (Details Textual) | Apr. 19, 2017$ / sharesshares | Feb. 22, 2017USD ($) | Jan. 19, 2017USD ($)$ / sharesshares | Nov. 29, 2016USD ($)$ / sharesshares | Oct. 27, 2016shares | Oct. 04, 2016$ / sharesshares | Jul. 01, 2016$ / sharesshares | Mar. 31, 2016shares | Aug. 31, 2015USD ($)$ / sharesshares | Jun. 30, 2015$ / sharesshares | Mar. 31, 2015$ / sharesshares | Feb. 04, 2014USD ($)$ / sharesshares | May 31, 2016shares | Jan. 31, 2015$ / sharesshares | Jul. 06, 2016shares | Sep. 30, 2017USD ($)$ / sharesshares | Sep. 30, 2016USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2015$ / shares | Dec. 31, 2016USD ($)$ / sharesshares | Jan. 29, 2017shares | Sep. 15, 2016shares | Sep. 14, 2016shares | Apr. 21, 2016shares | Mar. 25, 2016$ / sharesshares |
Shares Issued, Price Per Share | $ / shares | $ 9 | ||||||||||||||||||||||||
Underwriter Price | $ / shares | 8.28 | ||||||||||||||||||||||||
Underwriting Discount | $ / shares | $ 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 | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||||
Share Price | $ / shares | $ 4.125 | ||||||||||||||||||||||||
Class of Warrant or Right, Outstanding | 1,254,568 | ||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 3,421,188 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 400,000 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | 0.00% | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 59.00% | 59.00% | 59.00% | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 66.00% | 66.00% | 66.00% | ||||||||||||||||||||||
Reverse Shares Issued for Escrow Pursuant to Termination of Agreement, Shares | 400,000 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 46,537 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares | $ 30 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 6 years 215 days | ||||||||||||||||||||||||
Class of Warrant or Right Number of Warrants Vested and Exercisable | 1,254,568 | ||||||||||||||||||||||||
Allocated Share-based Compensation Expense, Reversal or Recovery | $ | $ 7,908 | ||||||||||||||||||||||||
Allocated Share-based Compensation Expense | $ | $ 147,158 | ||||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | $ 2,901,348 | ||||||||||||||||||||||||
Common Stock, Shares Authorized | 8,000,000 | 24,000,000 | 24,000,000 | 24,000,000 | 24,000,000 | 200,000,000 | 100,000,000 | ||||||||||||||||||
Reverse Stock Split [Member] | |||||||||||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 25 | ||||||||||||||||||||||||
Purchasers [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 125 | 125 | 125 | ||||||||||||||||||||||
Preferred Stock Conversion Price Per Share | $ / shares | $ 487.50 | ||||||||||||||||||||||||
Conversion of Stock Price Per Share | $ / shares | $ 243.75 | $ 243.75 | $ 243.75 | ||||||||||||||||||||||
Number of Preferred Stock Share holders | 16 | 16 | 16 | ||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.00% | 6.00% | |||||||||||||||||||||||
Vice President of Sales [Member] | |||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | ||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 3.75 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 40,000 | ||||||||||||||||||||||||
Number of Equal Installments Options are Expected to Vest | 6 | ||||||||||||||||||||||||
The 2016 Registered Direct Offering [Member] | |||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 1,983,337 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 4.46 | ||||||||||||||||||||||||
Share Price | $ / shares | $ 2.62 | ||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 1,625,905 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 756,999 | ||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 756,999 | ||||||||||||||||||||||||
Class of Warrant or Right Term | 5 years | ||||||||||||||||||||||||
Class of Warrant or Right, Vesting Period | 180 days | ||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ | $ 1,739,770 | $ 1,739,770 | |||||||||||||||||||||||
The 2017 Public Offering [Member] | |||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 3,937,500 | ||||||||||||||||||||||||
Share Price | $ / shares | $ 2.25 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,750,000 | ||||||||||||||||||||||||
Share Per Each Unit | 1 | ||||||||||||||||||||||||
Over-Allotment Option [Member] | |||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity | $ | $ 358,312 | ||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 393,750 | ||||||||||||||||||||||||
Sale of Stock, Underwriter Option Term | 45 days | ||||||||||||||||||||||||
Sale of Stock, Underwriter Option, Maximum Additional Shares of Common Stock Available for Purchase | 175,000 | ||||||||||||||||||||||||
Sale of Stock, Underwriter Option, Number of Securities Called by Maximum Additional Warrants Available for Purchase | 35,000 | ||||||||||||||||||||||||
Sale of Stock, Underwriter Option, Exercise Price of Additional Warrants Available for Purchase | $ / shares | $ 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 | ||||||||||||||||||||||||
Series B Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Beneficial Ownership Limitation Percentage | 4.99% | ||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,055,000 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 20,550 | ||||||||||||||||||||||||
Preferred Stock Par Value | $ / shares | $ 0.01 | ||||||||||||||||||||||||
Preferred Stock Stated Value | $ / shares | $ 100 | ||||||||||||||||||||||||
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 Warrants or Rights | 1,770,556 | ||||||||||||||||||||||||
Exchange from Series B Warrants to Warrant Shares [Member] | Exchange Offer [Member] | |||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | ||||||||||||||||||||||||
Series B Warrants [Member] | Exchange Offer [Member] | |||||||||||||||||||||||||
Class of Warrant or Right Exercised During Period | 1,251,510 | ||||||||||||||||||||||||
Stock Issued During Period Shares Warrants Exercised | 20,122 | ||||||||||||||||||||||||
Cashless Exercise of Common Stock Warrants, Total | 10.2 | ||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 18,059,671 | ||||||||||||||||||||||||
Series D Warrants [Member] | The 2017 Public Offering [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 2.25 | ||||||||||||||||||||||||
Class of Warrant or Right, Issued per Unit | 0.2 | ||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 17,500 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,750,000 | ||||||||||||||||||||||||
Reverse Shares Issued for Escrow Pursuant to Termination of Agreement, Shares | 400,000 | ||||||||||||||||||||||||
Common Stock [Member] | The 2016 Registered Direct Offering [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 7,570 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 756,999 | ||||||||||||||||||||||||
Common Stock [Member] | Over-Allotment Option [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 1,750 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 175,000 | ||||||||||||||||||||||||
Common Stock [Member] | Series A Warrants [Member] | |||||||||||||||||||||||||
Stock Issued During Period Shares Warrants Exercised | 2,318,663 | ||||||||||||||||||||||||
Common Stock [Member] | Series B Warrants [Member] | |||||||||||||||||||||||||
Stock Issued During Period Shares Warrants Exercised | 628,237 | ||||||||||||||||||||||||
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 | $ / shares | $ 0.01 | ||||||||||||||||||||||||
Corporate Stock Transfer Inc. [Member] | Series A Warrants [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 40 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 123.75 | ||||||||||||||||||||||||
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 | $ / shares | $ 0.43 | ||||||||||||||||||||||||
Warrants Option to Settle in Cash Fair Value Disclosure | $ / shares | $ 4.319 | ||||||||||||||||||||||||
Class of Warrant or Right Exercised During Period | 6,141,115 | ||||||||||||||||||||||||
Stock Issued During Period Shares Warrants Exercised | 2,318,663 | ||||||||||||||||||||||||
Class of Warrant or Right, Outstanding | 35,084 | ||||||||||||||||||||||||
Class of Warrant or Right Cash less Exercise Common Stock Price That Would Result in a Dilutive Exercise | $ / shares | $ 0.43 | ||||||||||||||||||||||||
Beneficial Ownership Limitation Percentage | 4.99% | ||||||||||||||||||||||||
Corporate Stock Transfer Inc. [Member] | Series A Warrants [Member] | Scenario, All Outstanding Warrants Exercised at Minimum Bid Price [Member] | |||||||||||||||||||||||||
Stock Issued During Period Shares Warrants Exercised | 564 | ||||||||||||||||||||||||
Corporate Stock Transfer Inc. [Member] | Series B Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Unit Agreement Number of Shares of Common Stock Included in Each Unit | 1 | ||||||||||||||||||||||||
Corporate Stock Transfer Inc. [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Unit Agreement Number of Shares of Common Stock Included in Each Unit | 4 | ||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | ||||||||||||||||||||||||
Exchange Units [Member] | |||||||||||||||||||||||||
Unit Purchase Option Units Sold | 1,666,667 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 1,895,010 | ||||||||||||||||||||||||
Exchange Units [Member] | Series A Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 3,991 | ||||||||||||||||||||||||
Exchange Units [Member] | Series A Warrants [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 7,580,040 | ||||||||||||||||||||||||
Exchange Units [Member] | Common Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 75,801 | ||||||||||||||||||||||||
Exchange Units [Member] | Series B Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 1,895,010 | ||||||||||||||||||||||||
Exchange Units [Member] | Corporate Stock Transfer Inc. [Member] | |||||||||||||||||||||||||
Unit Purchase Option Units Issued | 228,343 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 135,995 | ||||||||||||||||||||||||
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 | $ / shares | $ 11.25 | ||||||||||||||||||||||||
Employee Stock Option [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,459,368 | 157,982 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 1.47 | $ 3.14 | |||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Underwriting Agreement Expenses Agreed to Reimburse the Underwriter | $ | $ 70,000 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 609.38 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.40% | 2.45% | 2.35% | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years | ||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 596.25 | $ 139.2375 | |||||||||||||||||||||||
Share-based Goods and Nonemployee Services Transaction, Valuation Method, Expected Term | 10 years | 10 years | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 1.5489 | $ 3.7195 | |||||||||||||||||||||||
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 | $ / shares | $ 0 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.92% | 1.46% | 1.63% | ||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | 5 years | 5 years | ||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 1.45 | $ 6.875 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 1.0293 | $ 1.6329 |
Note 2 - Stockholders' Equity29
Note 2 - Stockholders' Equity, Stock Options and Warrants - Summary of Transactions for Stock Options and Warrants (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2016 | |
Options exercise price (in dollars per share) | $ 65.75 | |
Number of Shares Outstanding (in shares) | 2,612,281 | |
Warrant [Member] | ||
Number of Shares Outstanding (in shares) | 871,101 | 323,099 |
Average Exercise Price Outstanding (in dollars per share) | $ 52.22 | $ 128.40 |
Number of Shares Issued (in shares) | 385,000 | 1,487,881 |
Average Exercise Price Issued (in dollars per share) | $ 2.25 | $ 0.71 |
Number of Shares Expired (in shares) | (1,533) | |
Number of Shares Exercised (in shares) | (939,879) | |
Average Exercise Price Exercised (in dollars per share) | ||
Average Exercise Price Expired (in dollars per share) | $ 281.60 | |
Number of Shares Outstanding (in shares) | 1,254,568 | 871,101 |
Average Exercise Price Outstanding (in dollars per share) | $ 36.60 | $ 52.22 |
Employee Stock Option [Member] | ||
Number of Shares Outstanding (in shares) | 165,643 | 31,350 |
Average Exercise Price Outstanding (in dollars per share) | $ 11.22 | $ 133.23 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,459,368 | 157,982 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.47 | $ 3.14 |
Number of Shares Expired (in shares) | (12,730) | (22,377) |
Average Exercise Price Expired (in dollars per share) | $ 10.39 | $ 122.13 |
Number of Shares Exercised (in shares) | (1,312) | |
Options exercise price (in dollars per share) | $ 65.75 | |
Number of Shares Outstanding (in shares) | 2,612,281 | 165,643 |
Average Exercise Price Outstanding (in dollars per share) | $ 2.05 | $ 11.22 |
Note 2 - Stockholders' Equity30
Note 2 - Stockholders' Equity, Stock Options and Warrants - Summary of Status of Options and Warrants Outstanding (Details) | 9 Months Ended |
Sep. 30, 2017$ / sharesshares | |
Shares, options (in shares) | 2,612,281 |
Shares, warrants (in shares) | 1,254,568 |
Warrant One [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 2.25 |
Shares, warrants (in shares) | 385,000 |
Weighted average remaining life, warrants (Year) | 4 years 116 days |
Warrant Two [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 4.46 |
Shares, warrants (in shares) | 756,999 |
Weighted average remaining life, warrants (Year) | 4 years 62 days |
Warrant Three [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 93.75 |
Shares, warrants (in shares) | 2,255 |
Weighted average remaining life, warrants (Year) | 164 days |
Warrant Four [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 123.75 |
Shares, warrants (in shares) | 94,084 |
Weighted average remaining life, warrants (Year) | 2 years 335 days |
Warrant Five [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 150 |
Shares, warrants (in shares) | 4,114 |
Weighted average remaining life, warrants (Year) | 164 days |
Warrant Six [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 225 |
Shares, warrants (in shares) | 107 |
Weighted average remaining life, warrants (Year) | 116 days |
Warrant Seven [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 243.75 |
Shares, warrants (in shares) | 2,529 |
Weighted average remaining life, warrants (Year) | 1 year 306 days |
Warrant Eight [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 281.25 |
Shares, warrants (in shares) | 4,364 |
Weighted average remaining life, warrants (Year) | 116 days |
Warrant Nine [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 309.375 |
Shares, warrants (in shares) | 2,850 |
Weighted average remaining life, warrants (Year) | 1 year 313 days |
Warrant Ten [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 309.50 |
Shares, warrants (in shares) | 222 |
Weighted average remaining life, warrants (Year) | 2 years 36 days |
Warrant Eleven [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 337.50 |
Shares, warrants (in shares) | 178 |
Weighted average remaining life, warrants (Year) | 262 days |
Warrant Twelve [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 371.25 |
Shares, warrants (in shares) | 944 |
Weighted average remaining life, warrants (Year) | 240 days |
Warrant Thirteen [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 506.25 |
Shares, warrants (in shares) | 59 |
Weighted average remaining life, warrants (Year) | 1 year 138 days |
Warrant Fourteen [Member] | |
Price, warrants (in dollars per share) | $ / shares | $ 609.375 |
Shares, warrants (in shares) | 862 |
Weighted average remaining life, warrants (Year) | 1 year 124 days |
Stock Options One [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 1.454 |
Shares, options (in shares) | 17,200 |
Weighted average remaining life, options (Year) | 10 years |
Stock Options Two [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 1.47 |
Shares, options (in shares) | 2,427,882 |
Weighted average remaining life, options (Year) | 9 years 266 days |
Stock Options Three [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 2.10 |
Shares, options (in shares) | 14,286 |
Weighted average remaining life, options (Year) | 9 years 182 days |
Stock Options Four [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 2.25 |
Shares, options (in shares) | 293 |
Weighted average remaining life, options (Year) | 8 years 328 days |
Stock Options Five [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 2.42 |
Shares, options (in shares) | 24,768 |
Weighted average remaining life, options (Year) | 8 years 277 days |
Stock Options Six [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 2.80 |
Shares, options (in shares) | 57,145 |
Weighted average remaining life, options (Year) | 9 years 94 days |
Stock Options Seven [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 3.75 |
Shares, options (in shares) | 44,000 |
Weighted average remaining life, options (Year) | 8 years 277 days |
Stock Options Eight [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 4.125 |
Shares, options (in shares) | 3,636 |
Weighted average remaining life, options (Year) | 9 years 3 days |
Stock Options Nine [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 4.1975 |
Shares, options (in shares) | 7,147 |
Weighted average remaining life, options (Year) | 8 years 354 days |
Stock Options Ten [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 4.25 |
Shares, options (in shares) | 3,529 |
Weighted average remaining life, options (Year) | 8 years 182 days |
Stock Options Eleven [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 5.125 |
Shares, options (in shares) | 3,902 |
Weighted average remaining life, options (Year) | 8 years 343 days |
Stock Options Twelve [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 65.75 |
Shares, options (in shares) | 190 |
Weighted average remaining life, options (Year) | 7 years 313 days |
Stock Options Thirteen [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 73.50 |
Shares, options (in shares) | 1,157 |
Weighted average remaining life, options (Year) | 8 years 94 days |
Stock Options Fourteen [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 77.50 |
Shares, options (in shares) | 2,323 |
Weighted average remaining life, options (Year) | 7 years 273 days |
Stock Options Fifteen [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 80.25 |
Shares, options (in shares) | 187 |
Weighted average remaining life, options (Year) | 8 years 3 days |
Stock Options Sixteen [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 86.25 |
Shares, options (in shares) | 232 |
Weighted average remaining life, options (Year) | 7 years 182 days |
Stock Options Seventeen [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 131.25 |
Shares, options (in shares) | 81 |
Weighted average remaining life, options (Year) | 4 years 343 days |
Stock Options Eighteen [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 148.125 |
Shares, options (in shares) | 928 |
Weighted average remaining life, options (Year) | 5 years 171 days |
Stock Options Nineteen [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 150 |
Shares, options (in shares) | 1,760 |
Weighted average remaining life, options (Year) | 4 years 321 days |
Stock Options Twenty [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 162.50 |
Shares, options (in shares) | 123 |
Weighted average remaining life, options (Year) | 7 years 94 days |
Stock Options Twenty One [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 206.25 |
Shares, options (in shares) | 121 |
Weighted average remaining life, options (Year) | 7 years 3 days |
Stock Options Twenty Two [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 248.4375 |
Shares, options (in shares) | 121 |
Weighted average remaining life, options (Year) | 5 years 288 days |
Stock Options Twenty Three [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 262.50 |
Shares, options (in shares) | 130 |
Weighted average remaining life, options (Year) | 5 years 288 days |
Stock Options Twenty Four [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 281.25 |
Shares, options (in shares) | 529 |
Weighted average remaining life, options (Year) | 5 years 109 days |
Stock Options Twenty Five [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 318.75 |
Shares, options (in shares) | 3 |
Weighted average remaining life, options (Year) | 5 years 219 days |
Stock Options Twenty Six [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 346.875 |
Shares, options (in shares) | 72 |
Weighted average remaining life, options (Year) | 6 years 182 days |
Stock Options Twenty Seven [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 431.25 |
Shares, options (in shares) | 306 |
Weighted average remaining life, options (Year) | 6 years 160 days |
Stock Options Twenty Eight [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 506.25 |
Shares, options (in shares) | 188 |
Weighted average remaining life, options (Year) | 6 years 91 days |
Stock Options Twenty Nine [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 596.25 |
Shares, options (in shares) | 42 |
Weighted average remaining life, options (Year) | 6 years |
Note 2 - Stockholders' Equity31
Note 2 - Stockholders' Equity, Stock Options and Warrants - Schedule of Listing of Stock Options and Warrants (Details) - $ / shares | 9 Months Ended | 12 Months Ended |
Sep. 30, 2017 | Dec. 31, 2015 | |
Shares, options (in shares) | 2,612,281 | |
Shares, warrants (in shares) | 1,254,568 | |
Minimum [Member] | ||
Price, options (in dollars per share) | $ 1.45 | $ 6.875 |
Price, warrants (in dollars per share) | 0 | |
Maximum [Member] | ||
Price, options (in dollars per share) | 596.25 | $ 139.2375 |
Price, warrants (in dollars per share) | $ 609.38 | |
Warrants 2012 [Member] | ||
Shares, warrants (in shares) | 1,259 | |
Price, warrants (in dollars per share) | $ 281.25 | |
Warrants 2013 [Member] | ||
Shares, warrants (in shares) | 10,703 | |
Warrants 2013 [Member] | Minimum [Member] | ||
Price, warrants (in dollars per share) | $ 93.75 | |
Warrants 2013 [Member] | Maximum [Member] | ||
Price, warrants (in dollars per share) | $ 371.25 | |
Warrants 2014 [Member] | ||
Shares, warrants (in shares) | 6,455 | |
Warrants 2014 [Member] | Minimum [Member] | ||
Price, warrants (in dollars per share) | $ 243.75 | |
Warrants 2014 [Member] | Maximum [Member] | ||
Price, warrants (in dollars per share) | $ 609.38 | |
Warrants 2015 [Member] | ||
Shares, warrants (in shares) | 94,152 | |
Warrants 2015 [Member] | Minimum [Member] | ||
Price, warrants (in dollars per share) | $ 0 | |
Warrants 2015 [Member] | Maximum [Member] | ||
Price, warrants (in dollars per share) | $ 243.75 | |
Warrants 2016 [Member] | ||
Shares, warrants (in shares) | 756,999 | |
Price, warrants (in dollars per share) | $ 4.46 | |
Warrants 2017 [Member] | ||
Shares, warrants (in shares) | 385,000 | |
Price, warrants (in dollars per share) | $ 2.25 | |
Stock Options 2011 [Member] | ||
Shares, options (in shares) | 173 | |
Price, options (in dollars per share) | $ 281.25 | |
Stock Options 2012 [Member] | ||
Shares, options (in shares) | 1,841 | |
Stock Options 2012 [Member] | Minimum [Member] | ||
Price, options (in dollars per share) | $ 131.25 | |
Stock Options 2012 [Member] | Maximum [Member] | ||
Price, options (in dollars per share) | $ 150 | |
Stock Options 2013 [Member] | ||
Shares, options (in shares) | 1,553 | |
Stock Options 2013 [Member] | Minimum [Member] | ||
Price, options (in dollars per share) | $ 148.13 | |
Stock Options 2013 [Member] | Maximum [Member] | ||
Price, options (in dollars per share) | $ 596.25 | |
Stock Options 2014 [Member] | ||
Shares, options (in shares) | 835 | |
Stock Options 2014 [Member] | Minimum [Member] | ||
Price, options (in dollars per share) | $ 162.50 | |
Stock Options 2014 [Member] | Maximum [Member] | ||
Price, options (in dollars per share) | $ 431.25 | |
Stock Options 2015 [Member] | ||
Shares, options (in shares) | 4,088 | |
Stock Options 2015 [Member] | Minimum [Member] | ||
Price, options (in dollars per share) | $ 65.75 | |
Stock Options 2015 [Member] | Maximum [Member] | ||
Price, options (in dollars per share) | $ 86.25 | |
Stock Options 2016 [Member] | ||
Shares, options (in shares) | 144,423 | |
Stock Options 2016 [Member] | Minimum [Member] | ||
Price, options (in dollars per share) | $ 2.25 | |
Stock Options 2016 [Member] | Maximum [Member] | ||
Price, options (in dollars per share) | $ 5.13 | |
Stock Options 2017 [Member] | ||
Shares, options (in shares) | 2,459,368 | |
Stock Options 2017 [Member] | Minimum [Member] | ||
Price, options (in dollars per share) | $ 1.45 | |
Stock Options 2017 [Member] | Maximum [Member] | ||
Price, options (in dollars per share) | $ 2.10 |
Note 3 - Notes Receivable (Deta
Note 3 - Notes Receivable (Details Textual) - USD ($) | 1 Months Ended | |||
Nov. 13, 2017 | Oct. 26, 2017 | Sep. 30, 2017 | Dec. 31, 2016 | |
Notes, Loans and Financing Receivable, Net, Current | $ 785,000 | |||
CytoBioscience [Member] | Promissory Notes Receivable [Member] | ||||
Notes, Loans and Financing Receivable, Net, Current | $ 785,000 | |||
CytoBioscience [Member] | Promissory Notes Receivable [Member] | Subsequent Event [Member] | ||||
Notes Receivable, Interest Rate, Stated Percentage | 8.00% | |||
Notes, Loans and Financing Receivable, Net, Current | $ 1,070,000 | |||
Payments to Acquire Notes Receivable | $ 285,000 |
Note 4 - Short-term Notes Pay33
Note 4 - Short-term Notes Payable (Details Textual) - USD ($) | Aug. 31, 2015 | May 31, 2015 | Sep. 30, 2014 | Sep. 30, 2017 | Jun. 30, 2017 | Sep. 09, 2014 |
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 | 2,851 | |||||
Percentage Reduction to Debt Instrument Face Amount | 11.00% | |||||
Percentage Reduction to Number of Warrants | 11.00% | |||||
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 2015 Convertible Notes [Member] | ||||||
Debt Instrument, Face Amount | $ 275,000 | |||||
Proceeds from Convertible Debt | $ 250,000 | |||||
Class of Warrant or Right Issued During Period | 0 | |||||
The Convertible Notes [Member] | ||||||
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 | |||||
Short-term Debt | $ 0 |
Note 5 - Loss Per Share (Detail
Note 5 - Loss Per Share (Details Textual) - shares | 9 Months Ended | |
Sep. 30, 2017 | Sep. 30, 2016 | |
Options and Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 3,866,849 | 222,600 |
Preferred Stock 1 [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 79,246 |
Note 5 - Loss Per Share - Share
Note 5 - Loss Per Share - Shares Used in Basic and Diluted Loss Per Common Share Computations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | ||
Net loss available in basic and diluted calculation | $ (992,095) | $ (1,055,593) | $ (4,877,542) | $ (5,793,242) | $ (6,526,014) | |
Unrealized gain from marketable securities | (1,299) | 4,579 | $ 1,501 | |||
Comprehensive (loss) | $ (992,095) | $ (1,056,892) | $ (4,877,542) | $ (5,788,663) | ||
Weighted average common shares outstanding-basic (in shares) | 6,232,761 | 3,320,139 | 6,283,567 | 2,250,315 | ||
Effect of diluted stock options, warrants and preferred stock (1) (in shares) | [1] | |||||
Loss per common share - basic and diluted (in dollars per share) | $ (0.16) | $ (0.32) | $ (0.78) | $ (2.57) | ||
[1] | The number of shares underlying options and warrants outstanding as of September 30, 2017, and September 30, 2016 are 3,866,849 and 222,600 respectively. The number of shares underlying the preferred stock as of September 30, 2017, is 79,246. 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 ($) | 9 Months Ended | |
Sep. 30, 2017 | Dec. 31, 2016 | |
Income Tax Expense (Benefit) | $ 0 | |
Valuation Allowance Percentage | 100.00% | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards | $ 33,200,000 | $ 30,900,000 |
Operating Loss Carryforwards, Valuation Allowance | 11,700,000 | 10,700,000 |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards | 12,200,000 | 13,000,000 |
Operating Loss Carryforwards, Valuation Allowance | $ 300,000 | $ 200,000 |
Note 6 - Income Taxes - Compone
Note 6 - Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Net Operating Loss | $ 11,488,000 | $ 10,755,000 |
Other | 515,000 | 189,000 |
Total Deferred Tax Asset | 12,003,000 | 10,944,000 |
Less Valuation Allowance | 12,003,000 | 10,944,000 |
Net Deferred Income Taxes | $ 0 | $ 0 |
Note 7 - Rent Obligation (Detai
Note 7 - Rent Obligation (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | |
Lessee Leasing Arrangements Operating Leases Terms of Contract Cancellation | 3 years | |||
Lessee Leasing Arrangements Operating Leases Extension Term | 5 years | |||
Operating Leases, Rent Expense | $ 16,676 | $ 16,356 | $ 49,685 | $ 50,106 |
Note 7 - Rent Obligation - Rent
Note 7 - Rent Obligation - Rent Obligation (Details) | Sep. 30, 2017USD ($) |
2,017 | $ 9,750 |
2,018 | $ 3,000 |
Note 8 - Related Party Transa40
Note 8 - Related Party Transactions (Details Textual) - GLG Pharma, LLC. [Member] | Sep. 20, 2016shares |
Stock Expected to be Issued Upon Agreement, Shares | 400,000 |
Stock Expected to be Issued Upon Agreement, Shares, Tranche One | 100,000 |
Stock Expected to be Issued Upon Agreement, Shares, Tranche Four | 100,000 |
Stock Expected to be Issued Upon Agreement, Shares, Tranche Two | 100,000 |
Stock Expected to be Issued Upon Agreement, Shares, Tranche Three | 100,000 |
Note 9 - Retirement Savings P41
Note 9 - Retirement Savings Plan (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2017 | Sep. 30, 2016 | Sep. 30, 2017 | Sep. 30, 2016 | Dec. 31, 2016 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | 100.00% | |||
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% | 4.00% | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 7,724 | $ 7,401 | $ 25,100 | $ 28,196 |
Note 10 - Subsequent Events (De
Note 10 - Subsequent Events (Details Textual) - USD ($) | Nov. 13, 2017 | Dec. 31, 2017 |
Advance to Helomics [Member] | Subsequent Event [Member] | ||
Payments to Acquire Notes Receivable | $ 175,000 | |
Notes Receivable, Interest Rate | 8.00% | |
Joint Venture with Helomics [Member] | Scenario, Forecast [Member] | ||
Noncontrolling Interest, Ownership Percentage by Parent | 51.00% | |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.00% |