Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 12, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Precision Therapeutics Inc. | |
Entity Central Index Key | 1,446,159 | |
Trading Symbol | aipt | |
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) | 11,804,073 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Current Assets: | ||
Cash and Cash Equivalents | $ 2,232,803 | $ 766,189 |
Certificates of Deposit | 244,971 | |
Accounts Receivable | 241,764 | 137,499 |
Notes Receivable | 167,512 | 667,512 |
Inventories | 272,556 | 265,045 |
Prepaid Expense and other assets | 208,305 | 289,966 |
Total Current Assets | 3,122,940 | 2,371,182 |
Notes Receivable | 1,112,524 | 1,070,000 |
Investment in Subsidiary | 1,542,250 | |
Fixed Assets, net | 106,009 | 87,716 |
Intangibles, net | 115,714 | 95,356 |
Total Assets | 5,999,437 | 3,624,254 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts Payable | 186,309 | 140,462 |
Accrued Expenses | 558,439 | 785,215 |
Deferred Revenue | 38,856 | 6,663 |
Total Liabilities | 783,604 | 932,340 |
Commitments and Contingencies | ||
Stockholders’ Equity: | ||
Common Stock, $.01 par value, 50,000,000 authorized, 11,804,073 and 6,943,283 outstanding | 118,040 | 69,432 |
Additional paid-in capital | (61,622,067) | (57,380,256) |
Accumulated Deficit | 56,525,066 | 54,765,045 |
Total Stockholders' Equity | 5,215,833 | 2,691,914 |
Total Liabilities and Stockholders' Equity | 5,999,437 | 3,624,254 |
Series B Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Convertible Preferred Stock | 792 | 792 |
Series C Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Convertible Preferred Stock | $ 6,479 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2018 | Dec. 31, 2017 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares outstanding (in shares) | 11,804,073 | 6,943,283 |
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 |
Series C 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) | 0 | 647,819 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Other Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenue | $ 411,593 | $ 175,166 |
Cost of goods sold | 117,343 | 36,992 |
Gross margin | 294,250 | 138,174 |
General and administrative expense | 1,216,144 | 1,132,073 |
Operations expense | 287,590 | 200,494 |
Sales and marketing expense | 550,538 | 147,454 |
Total Expense | 2,054,272 | 1,480,021 |
Net loss attributable to common shareholders | (1,760,022) | (1,341,847) |
Comprehensive loss | $ (1,760,022) | $ (1,341,847) |
Loss per common share - basic and diluted (in dollars per share) | $ (0.15) | $ (0.21) |
Weighted average shares used in computation - basic and diluted (in shares) | 11,383,217 | 6,450,967 |
Statement of Stockholders' Equi
Statement of Stockholders' Equity (Unaudited) - USD ($) | Over-Allotment Option [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Over-Allotment Option [Member]Preferred Stock [Member] | Over-Allotment Option [Member]Common Stock [Member] | Over-Allotment Option [Member]Additional Paid-in Capital [Member] | Over-Allotment Option [Member]Retained Earnings [Member] | Over-Allotment Option [Member]AOCI Attributable to Parent [Member] | Over-Allotment Option [Member] | Consulting Agreement One [Member]Preferred Stock [Member]Series C Preferred Stock [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]Series C Preferred Stock [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] | Private Placement [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Private Placement [Member]Preferred Stock [Member] | Private Placement [Member]Common Stock [Member] | Private Placement [Member]Additional Paid-in Capital [Member] | Private Placement [Member]Retained Earnings [Member] | Private Placement [Member]AOCI Attributable to Parent [Member] | Private Placement [Member] | Helomics Holding Corp. [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Helomics Holding Corp. [Member]Preferred Stock [Member] | Helomics Holding Corp. [Member]Common Stock [Member] | Helomics Holding Corp. [Member]Additional Paid-in Capital [Member] | Helomics Holding Corp. [Member]Retained Earnings [Member] | Helomics Holding Corp. [Member]AOCI Attributable to Parent [Member] | Helomics Holding Corp. [Member] | Investor Relations Consultant [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Investor Relations Consultant [Member]Preferred Stock [Member] | Investor Relations Consultant [Member]Common Stock [Member] | Investor Relations Consultant [Member]Additional Paid-in Capital [Member] | Investor Relations Consultant [Member]Retained Earnings [Member] | Investor Relations Consultant [Member]AOCI Attributable to Parent [Member] | Investor Relations Consultant [Member] | Series E Warrants [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Series E Warrants [Member]Preferred Stock [Member] | Series E Warrants [Member]Common Stock [Member] | Series E Warrants [Member]Additional Paid-in Capital [Member] | Series E Warrants [Member]Retained Earnings [Member] | Series E Warrants [Member]AOCI Attributable to Parent [Member] | Series E Warrants [Member] | Preferred Stock [Member]Series C Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 4,564,428 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2016 | $ 792 | $ 45,644 | $ 47,894,196 | $ (47,018,451) | $ 1,501 | $ 923,682 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to the public offering, net (in shares) | 175,000 | 1,213,819 | 1,750,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to the public offering, net | $ 1,750 | $ 392,000 | $ 393,750 | $ 12,138 | $ 1,201,681 | $ 1,213,819 | $ 17,500 | 3,403,688 | 3,421,188 | |||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 4,042,256 | 4,042,256 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse shares issued for escrow with GLG Pharma pursuant to the termination agreement (in shares) | (400,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse shares issued for escrow with GLG Pharma pursuant to the termination agreement | $ (4,000) | (4,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for services (in shares) | 100,000 | 43,333 | 50,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for services | $ 1,000 | $ 219,000 | $ 220,000 | $ 433 | $ 63,699 | $ 64,132 | $ 500 | $ 78,500 | $ 79,000 | |||||||||||||||||||||||||||||||||||||||||||||||
Unrealized (loss) from marketable securities | (1) | (1,501) | (1,501) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement (in shares) | (566,000) | 660,522 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement | (5,659) | $ 6,604 | 85,236 | 86,182 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (7,746,593) | (7,746,593) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2017 | (647,819) | (6,943,283) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | 7,271 | $ 69,432 | 57,380,256 | (54,765,045) | 2,691,914 | |||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to the public offering, net (in shares) | 215,247 | 2,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to the public offering, net | $ 2,153 | $ 202,268 | $ 1 | $ 204,422 | $ 29,000 | 2,726,087 | 2,755,087 | |||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 226,387 | 226,387 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized (loss) from marketable securities | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement (in shares) | (647,819) | 589,747 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement | (6,479) | $ 5,897 | 582 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (1,760,022) | (1,760,022) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiary pursuant to Helomics 20% acquisition (in shares) | 1,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in subsidiary pursuant to Helomics 20% acquisition | $ 11,000 | $ 1,031,250 | $ 1,042,250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
E warrant exercises pursuant to S-3 public offering at $1.00 exercise price per share (in shares) | 55,796 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
E warrant exercises pursuant to S-3 public offering at $1.00 exercise price per share | $ 558 | $ 55,238 | $ 55,796 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2018 | (11,804,073) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Mar. 31, 2018 | $ 792 | $ 118,040 | $ 61,622,067 | $ (56,525,066) | $ 5,215,833 |
Statement of Stockholders' Equ6
Statement of Stockholders' Equity (Unaudited) (Parentheticals) | Dec. 31, 2017$ / shares |
Investor Relations Consultant [Member] | |
Price of shares issued (in dollars per share) | $ 1.58 |
Shares Issued, Price Per Share | $ 1.58 |
Condensed Consolidated Stateme7
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Cash flow from operating activities: | ||
Net loss | $ (1,760,022) | $ (1,341,847) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 18,167 | 18,574 |
Vested stock options and warrants | 226,387 | 587,444 |
Loss from sale of marketable securities | (1,837) | |
Changes in assets and liabilities: | ||
Accounts receivable | (104,265) | (29,587) |
Inventories | (7,511) | 23,022 |
Prepaid expense and other assets | 81,661 | (11,645) |
Accounts payable | 45,847 | (140,848) |
Accrued expenses | (226,775) | (265,893) |
Deferred Revenue | 32,193 | 6,409 |
Net cash used in operating activities: | (1,694,318) | (1,156,208) |
Cash flow from investing activities: | ||
Proceeds from sale of marketable securities | 284,665 | |
Purchase of certificates of deposit | (2,593,985) | |
Redemption of certificates of deposit | 244,971 | |
Advance on notes receivable | (42,524) | |
Purchase of fixed assets | (32,789) | (26,898) |
Purchase of intangibles | (24,029) | (194) |
Net cash provided by (used in) investing activities: | 145,629 | (2,336,412) |
Cash flow from financing activities: | ||
Proceeds from exercise of warrants into common stock | 55,794 | |
Issuance of common stock | 2,959,509 | 3,814,938 |
Net cash provided by (used in) financing activities | 3,015,303 | 3,814,938 |
Net increase in cash and cash equivalents | 1,466,614 | 322,318 |
Cash at beginning of period | 766,189 | 1,764,090 |
Cash at end of period | 2,232,803 | 2,086,408 |
Non-cash transactions: | ||
Conversion of Preferred Stock to Common Stock | 6,479 | |
Investment in Subsidiary | $ 1,542,250 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Nature of Operations and Continuance of Operations Precision Therapeutics Inc., (the “Company”) was originally incorporated on April 23, 2002 August 6, 2013, December 16, 2013, August 31, 2015, February 1, 2018, February 1, 2018. February 2, 2018. As of March 31, 2018, 11,804,073 $.01 In April 2009, 510 25% first The accompanying condensed consolidated financial statements (the “financial statements”) have been prepared assuming the Company will continue as a going concern. The Company has incurred recurring losses from operations and has an accumulated deficit of $56,525,066. $2,232,803 March 31, 2018 not Since inception to March 31, 2018, $35,840,380 1 $2,055,000 2 $13,555,003 3 $1,739,770 4 $3,937,500 $358,312 5 $1,300,000 6 $2,755,000 7 $5,685,000 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 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 April 2, 2018. may not Recent Accounting Developments In May 2014, No. 2014 09, 606 January 1, 2018 not December 31, 2017. January 1, 2018 606, not 605, Revenue Recognition not December 31, 2017, not January 1, 2018. 2 In January 2016, No. 2016 01, Financial Instruments-Overall (Subtopic 825 10 2016 01” not not December 15, 2017, March 31, 2018, no In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. On December 22, 2017, 2017 34% 21%. The Company reviewed all other significant newly issued accounting pronouncements and determined they are either not no Valuation of Intangible Assets The Company reviews identifiable intangible assets for impairment annually, or whenever events or changes in circumstances indicate the carrying amount may not may not not Accounting Policies and Estimates The presentation of financial statements is 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. Advertising Advertising costs are expensed as incurred. Advertising expenses were $4,394 three March 31, 2018 $4,271 three March 31, 2017. Research and Development Research and development costs are charged to operations as incurred. Research and development expenses were $94,011 three March 31, 2018 $84,472 three March 31, 2017. 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 Fair Value Measurements Under generally accepted accounting principles as outlined in the FASB’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 Inventories Inventories are stated at the lower of cost and net realizable value, with cost determined on a first first March 31, 2018 December 31, 2017 Finished goods $ 32,967 $ 62,932 Raw materials 183,216 141,028 Work-In-Process 56,373 61,085 Total $ 272,556 $ 265,045 Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing tooling 3 - 7 Demo equipment 3 The Company’s investment in fixed assets consists of the following: March 31, December 31, Computers and office equipment $ 190,484 $ 183,528 Leasehold improvements 41,397 25,635 Manufacturing tooling 108,955 108,955 Demo equipment 53,439 43,368 Total 394,275 361,486 Less: Accumulated depreciation 288,266 273,770 Total Fixed Assets, Net $ 106,009 $ 87,716 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 $14,496 three March 31, 2018, $15,685 three March 31, 2017. Intangible Assets Intangible assets consist of trademarks and patent costs. Amortization expense was $3,671 three March 31, 2018, $2,888 three March 31, 2017. Income Taxes The Company accounts for income taxes in accordance with ASC 740 Income Taxes 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 2014 Patents and Intellectual Property On January 25, 2014, No. PCT/US2014/013081 61756763 one January 25, 2013. 148 The Company’s PCT patent application is for the new model of the surgical fluid waste management system. The Company obtained a favorable International Search Report from the PCT searching authority indicating that the claims in its 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 facility’s 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, The United States Patent Office has assigned application #14/763,459 As of November 22, 2017, #14743665.3 1651, 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 $1,984,163 Segments The Company operates in two three March 31, 2018 2017 $26,662 2017 first March 2017. Risks and Uncertainties The Company is subject to risks common to companies in the medical device industry, including, but not |
Note 2 - Revenue Recognition
Note 2 - Revenue Recognition | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 2 Revenue from Product Sales The Company’s revenue consists primarily of sales of the STREAMWAY System, as well as sales of the proprietary cleaning fluid and filters for use with the STREAMWAY System. The Company sells its products directly to hospitals and other medical facilities using employed sales representatives and independent contractors. Purchase orders, which are governed by sales agreements in all cases, state the final terms for unit price, quantity, shipping and payment terms. The unit price is considered the observable stand-alone selling price for the arrangements. The Company sales agreement, Terms and Conditions, is a dually executed contract providing explicit criteria supporting the sale of the STREAMWAY System. The Company considers the combination of a purchase order and the Terms and Conditions to be a customer’s contract in all cases. The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised goods or services to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales taxes are imposed on the Company’s sales to nonexempt customers. The Company collects the taxes from the customers and remits the entire amounts to the governmental authorities. The Company has elected the accounting policy to exclude sales taxes from revenue and expenses. Product sales consist of a single performance obligation that the Company satisfies at a point in time. The Company recognizes product revenue when the following events have occurred: (a) the Company has transferred physical possession of the products, (b) the Company has a present right to payment, (c) the customer has legal title to the products, and (d) the customer bears significant risks and rewards of ownership of the products. Based on the shipping terms specified in the sales agreements and purchase orders, these criteria are generally met when the products are shipped from the Company’s facilities (“FOB origin”, which is the Company’s standard shipping terms). As a result, the Company determined that the customer is able to direct the use of, and obtain substantially all of the benefits from, the products at the time the products are shipped. The Company may, may 30 60 Customers may one one one All amounts billed to a customer in a sales transaction related to shipping and handling, if any, represent revenues earned for the goods provided, and these amounts have been included in revenue. Costs related to such shipping and handling billing are classified as cost of goods sold. Variable Consideration The Company records revenue from distributors and direct end customers in an amount that reflects the transaction price it expects to be entitled to after transferring control of those goods or services. The Company’s current contracts do not Warranty The Company generally provides one no not Contract Balances The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied. As of March 31, 2018, December 31, 2017, $241,764 $137,499, three March 31, 2018, not The Company deferred revenues related primarily to maintenance plans of $38,856 $6,663 March 31, 2018 December 31, 2017, Practical Expedients The Company has elected the practical expedient not |
Note 3 - Stockholders' Equity,
Note 3 - Stockholders' Equity, Stock Options and Warrants | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 3 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. · C is the closing bid price of the Common Stock as of two no may $0.43 The Black-Scholes Value 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 The Series A Warrants will not 4.99% 13 1934, In addition to (but not three 1 2 Unit Purchase Option. The Company, in connection with the Offering, entered into a Unit Purchase Option Agreement, dated as of August 31, 2015 ( 5% 83,333 125% $11.25 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. 3. $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 November 30, 2017, 1,213,819 $1.071 606,910 $1.26 five one six $1,300,000 1.167 1,250,269 142,466 $189,285. 2018 In January 2018, 2,900,000 $0.95 one 0.3 one $1.00 $2,755,000, 45 290,000 87,000 $0.001 February 21, 2018, 215,247 $0.01, $0.9497 $188,066 $16,354 8% Share Exchange Agreement With Helomics On January 11, 2018, 2,500,000 1,100,000 March 2018 $500,000 5% 25% $500,000 1,100,000 12 $8,000,000. 20% may Increases in Authorized Shares At a special meeting of the stockholders on January 29, 2017, 8,000,000 24,000,000 At the annual meeting on December 28, 2017, 24,000,000 50,000,000 $0.01 January 2, 2018. Equity Incentive Plan The Company has an equity incentive plan, which allows issuance of incentive and non-qualified stock options to employees, directors and consultants of the Company, where permitted under the plan. The exercise price for each stock option is determined by the Board of Directors. Vesting requirements are determined by the Board of Directors when granted and currently range from immediate to three three ten Accounting for share-based payment The Company uses the Black-Scholes option valuation model which requires the input of significant assumptions including an estimate of the average period of time employees will retain vested stock options before exercising them, the estimated volatility of the Company's common stock price over the expected term, the expected dividend rate, the risk-free interest rate, and forfeiture taken at occurrence. Changes in the assumptions can materially affect the estimate of fair value of stock-based compensation and, consequently, the related expense recognized. The assumptions the Company uses in calculating the fair value of stock-based payment awards represent the Company's best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based compensation expense could be materially different in the future. Since the Company's common stock has no 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. On January 15, 2018, 50,000 $0.01 $0.97 four third fourth On March 12, 2018, 111,112 $0.01 $1.35 four third fourth For grants of stock option and warrants in 2018 2.33% 2.87% 0% 59% 66% 5 10 $0.4816 $1.0044 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, 2016 165,643 $ 11.22 871,101 $ 52.22 Issued 2,612,070 1.45 1,082,946 1.49 Expired (12,730 ) 10.39 (2,790 ) 281.46 Exercised - - - - Outstanding at December 31, 2017 2,764,983 $ 2.00 1,951,257 $ 23.74 Issued 325,595 1.11 957,000 1.00 Expired - - (9,580 ) 180.12 Exercised - - (38,625 ) 1.00 Outstanding at March 31, 2018 3,090,578 $ 1.89 2,860,052 $ 5.61 At March 31, 2018, 1,957,291 $2.18 9.23 2,860,052 three March 2018 March 2017 $226,387 $99,307, $1,180,348 18 The following summarizes the status of options and warrants outstanding at March 31, 2018: Range of Prices Shares Weighted Remaining Life Options $ 0.97 191,753 9.77 $ 1.01 124,358 9.76 $ 1.10 22,730 10.00 $ 1.35 111,112 9.96 $ 1.454 17,200 9.51 $ 1.47 2,456,226 9.24 $ 2.10 14,286 9.01 $ 2.25 293 8.41 $ 2.42 24,768 8.39 $ 2.80 57,145 8.76 $ 3.75 44,000 8.26 $ 4.125 3,636 8.51 $ 4.1975 7,147 8.47 $ 4.25 3,529 8.01 $ 5.125 3,902 8.44 $ 65.75 190 7.56 $ 73.50 1,157 7.76 $ 77.50 2,323 7.25 $ 80.25 187 7.51 $ 86.25 232 7.01 $ 131.25 81 4.44 $ 148.125 928 4.97 $ 150.00 1,760 4.38 $ 162.50 123 6.76 $ 206.25 121 6.51 $ 248.4375 121 5.29 $ 262.50 130 5.29 $ 281.25 529 4.80 $ 318.75 3 5.11 $ 346.875 72 6.01 $ 431.25 306 5.94 $ 506.25 188 5.76 $ 596.25 42 5.50 3,090,578 Warrants $ 1.00 1,675,374 4.39 $ 1.07 697,946 4.60 $ 2.25 385,000 3.82 $ 123.75 94,084 2.42 $ 243.75 2,529 1.35 $ 309.375 2,850 1.36 $ 309.50 222 1.61 $ 337.50 178 0.22 $ 371.25 946 0.16 $ 506.25 59 0.88 $ 609.375 862 0.85 2,860,052 At the annual meeting on December 28, 2017, 2012 5,000,000, December 4, 2017, 2012 2016 July 28, 2016 not 2.5 2016 not 2012 2017 December 28, 2017. $1.9 fourth 2017. Stock Options and Warrants Granted by the Company The following table is the listing of stock options and warrants as of March 31, 2018 Stock Options: Year Shares Price 2011 173 $281.25 2012 1,841 131.25 – 150.00 2013 1,553 148.125 – 596.25 2014 836 162.50 – 431.25 2015 4,088 65.75 – 86.25 2016 144,422 2.25 – 5.13 2017 2,612,070 1.01 – 2.10 2018 325,595 0.97 – 1.35 Total 3,090,578 $0.97 – 596.25 Warrants: Year Shares Price 2013 1,126 337.50 – 371.25 2014 6,455 243.75 – 609.38 2015 94,151 0.00 – 243.75 2016 756,999 4.46 2017 1,082,946 1.07 – 2.25 2018 918,375 1.00 Total 2,860,052 $0.00 – 609.38 |
Note 4 - Notes Receivable
Note 4 - Notes Receivable | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 4 In July 2017, 8% December 31, 2017. $1,070,000 December 31, 2017. March 2018, $1,112,524, eight 8% two February 28, 2020. In October 2017, $600,000 8% April 30, 2018. December 2017, $67,512.10 fifty 50% March 2018, $500,000 833,333 5% 25%. $167,512.10 |
Note 5 - Loss Per Share
Note 5 - Loss Per Share | 3 Months Ended |
Mar. 31, 2018 | |
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 March 31, 2018 2017 Numerator: Net loss available in basic and diluted calculation $ (1,760,022 ) $ (1,341,847 ) Other comprehensive income: Unrealized gain from marketable securities - - Comprehensive (loss) (1,760,022 ) (1,341,847 ) Denominator: Weighted average common shares outstanding-basic 11,383,217 6,450,967 Effect of diluted stock options, warrants and preferred stock (1) - - Weighted average common shares outstanding-basic 11,383,217 6,450,967 Loss per common share-basic and diluted $ (0.15 ) $ (0.21 ) ( 1 March 31, 2018 March 31, 2017 5,950,630 1,427,558 March 31, 2018 79,246. |
Note 6 - Income Taxes
Note 6 - Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
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 those temporary differences are expected to be recovered or settled. The Tax Reform Act was enacted December 22, 2017. January 1, 2018, 34% 21%. no 100% There is no 100% During September 2013, 382 may September 2013, not At December 31, 2017, $34.5 2018, 382 2022 $12.2 December 31, 2017. 2017 December 31, 2017, $7.4 $0.2 At March 31, 2018, $36.1 2018, 382 2022 $12.4 March 31, 2018. 2017 March 31, 2018, $7.7 $1.0 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 March 31, 2018 December 31, 2017 March 31, 2018 December 31, Deferred Tax Asset: Net Operating Loss $ 8,554,404 $ 7,393,000 Other 192,522 215,843 Total Deferred Tax Asset 8,746,926 7,608,943 Less Valuation Allowance 8,746,926 7,608,943 Net Deferred Income Taxes $ — $ — |
Note 7 - Rent Obligation
Note 7 - Rent Obligation | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | NOTE 7 On November 22, 2017, second January 28, 2013. three February 1, 2018 January 31, 2021. 5,773 2,945 2,828 January 31, 2021. $17,244 $16,895 three March 31, 2018 March 31, 2017, The Company’s rent obligation for the next four 2018 $ 29,250 2019 $ 40,000 2020 $ 42,000 2021 $ 3,000 |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2018 | |
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 In April 2018, one six $12,000 240,000 2012 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 | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 9 The Company has a pre-tax salary reduction/profit-sharing plan under the provisions of Section 401 2018 2017, 100% 4% $11,907 $9,770 three March 31, 2018 March 31, 2017, |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 10 In April 2018, one six $12,000 240,000 2012 On April 20, 2018, On the effective date of the proposed Merger, Precision would issue to Helomics’ stockholders 7.5 1.1 20% January 2018 The letter of intent is non-binding except for certain enumerated provisions. Completion of the Merger is subject to confirmatory due diligence and negotiation and execution of a definitive merger agreement. There will be certain conditions to closing, including approval of the Merger by the boards of directors and stockholders of Precision and Helomics, the receipt of all necessary approvals and consents of governmental bodies, lenders, lessors and third no no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Nature of Operations and Continuance of Operations Precision Therapeutics Inc., (the “Company”) was originally incorporated on April 23, 2002 August 6, 2013, December 16, 2013, August 31, 2015, February 1, 2018, February 1, 2018. February 2, 2018. As of March 31, 2018, 11,804,073 $.01 In April 2009, 510 25% first The accompanying condensed consolidated financial statements (the “financial statements”) have been prepared assuming the Company will continue as a going concern. The Company has incurred recurring losses from operations and has an accumulated deficit of $56,525,066. $2,232,803 March 31, 2018 not Since inception to March 31, 2018, $35,840,380 1 $2,055,000 2 $13,555,003 3 $1,739,770 4 $3,937,500 $358,312 5 $1,300,000 6 $2,755,000 7 $5,685,000 |
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 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 April 2, 2018. may not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Developments In May 2014, No. 2014 09, 606 January 1, 2018 not December 31, 2017. January 1, 2018 606, not 605, Revenue Recognition not December 31, 2017, not January 1, 2018. 2 In January 2016, No. 2016 01, Financial Instruments-Overall (Subtopic 825 10 2016 01” not not December 15, 2017, March 31, 2018, no In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. On December 22, 2017, 2017 34% 21%. The Company 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 The Company reviews identifiable intangible assets for impairment annually, or whenever events or changes in circumstances indicate the carrying amount may not may not not |
Use of Estimates, Policy [Policy Text Block] | Accounting Policies and Estimates The presentation of financial statements is 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. |
Advertising Costs, Policy [Policy Text Block] | Advertising Advertising costs are expensed as incurred. Advertising expenses were $4,394 three March 31, 2018 $4,271 three March 31, 2017. |
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 $94,011 three March 31, 2018 $84,472 three March 31, 2017. |
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 |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements Under generally accepted accounting principles as outlined in the FASB’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 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost and net realizable value, with cost determined on a first first March 31, 2018 December 31, 2017 Finished goods $ 32,967 $ 62,932 Raw materials 183,216 141,028 Work-In-Process 56,373 61,085 Total $ 272,556 $ 265,045 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing tooling 3 - 7 Demo equipment 3 The Company’s investment in fixed assets consists of the following: March 31, December 31, Computers and office equipment $ 190,484 $ 183,528 Leasehold improvements 41,397 25,635 Manufacturing tooling 108,955 108,955 Demo equipment 53,439 43,368 Total 394,275 361,486 Less: Accumulated depreciation 288,266 273,770 Total Fixed Assets, Net $ 106,009 $ 87,716 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 $14,496 three March 31, 2018, $15,685 three March 31, 2017. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets consist of trademarks and patent costs. Amortization expense was $3,671 three March 31, 2018, $2,888 three March 31, 2017. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with ASC 740 Income Taxes 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 2014 |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Patents and Intellectual Property On January 25, 2014, No. PCT/US2014/013081 61756763 one January 25, 2013. 148 The Company’s PCT patent application is for the new model of the surgical fluid waste management system. The Company obtained a favorable International Search Report from the PCT searching authority indicating that the claims in its 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 facility’s 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, The United States Patent Office has assigned application #14/763,459 As of November 22, 2017, #14743665.3 1651, |
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 $1,984,163 |
Segment Reporting, Policy [Policy Text Block] | Segments The Company operates in two three March 31, 2018 2017 $26,662 2017 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 |
Note 1 - Summary of Significa19
Note 1 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, 2018 December 31, 2017 Finished goods $ 32,967 $ 62,932 Raw materials 183,216 141,028 Work-In-Process 56,373 61,085 Total $ 272,556 $ 265,045 |
Property Plant and Equipment UsefulLife [Table Text Block] | Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing tooling 3 - 7 Demo equipment 3 |
Property, Plant and Equipment [Table Text Block] | March 31, December 31, Computers and office equipment $ 190,484 $ 183,528 Leasehold improvements 41,397 25,635 Manufacturing tooling 108,955 108,955 Demo equipment 53,439 43,368 Total 394,275 361,486 Less: Accumulated depreciation 288,266 273,770 Total Fixed Assets, Net $ 106,009 $ 87,716 |
Note 3 - Stockholders' Equity20
Note 3 - Stockholders' Equity, Stock Options and Warrants (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Stock Options Warrants Number of Average Number of Average Outstanding at December 31, 2016 165,643 $ 11.22 871,101 $ 52.22 Issued 2,612,070 1.45 1,082,946 1.49 Expired (12,730 ) 10.39 (2,790 ) 281.46 Exercised - - - - Outstanding at December 31, 2017 2,764,983 $ 2.00 1,951,257 $ 23.74 Issued 325,595 1.11 957,000 1.00 Expired - - (9,580 ) 180.12 Exercised - - (38,625 ) 1.00 Outstanding at March 31, 2018 3,090,578 $ 1.89 2,860,052 $ 5.61 |
Schedule of Share-based Compensation Shares Authorized Under Stock Option and Warrant Plans by Exercise Price Range [Table Text Block] | Range of Prices Shares Weighted Remaining Life Options $ 0.97 191,753 9.77 $ 1.01 124,358 9.76 $ 1.10 22,730 10.00 $ 1.35 111,112 9.96 $ 1.454 17,200 9.51 $ 1.47 2,456,226 9.24 $ 2.10 14,286 9.01 $ 2.25 293 8.41 $ 2.42 24,768 8.39 $ 2.80 57,145 8.76 $ 3.75 44,000 8.26 $ 4.125 3,636 8.51 $ 4.1975 7,147 8.47 $ 4.25 3,529 8.01 $ 5.125 3,902 8.44 $ 65.75 190 7.56 $ 73.50 1,157 7.76 $ 77.50 2,323 7.25 $ 80.25 187 7.51 $ 86.25 232 7.01 $ 131.25 81 4.44 $ 148.125 928 4.97 $ 150.00 1,760 4.38 $ 162.50 123 6.76 $ 206.25 121 6.51 $ 248.4375 121 5.29 $ 262.50 130 5.29 $ 281.25 529 4.80 $ 318.75 3 5.11 $ 346.875 72 6.01 $ 431.25 306 5.94 $ 506.25 188 5.76 $ 596.25 42 5.50 3,090,578 Warrants $ 1.00 1,675,374 4.39 $ 1.07 697,946 4.60 $ 2.25 385,000 3.82 $ 123.75 94,084 2.42 $ 243.75 2,529 1.35 $ 309.375 2,850 1.36 $ 309.50 222 1.61 $ 337.50 178 0.22 $ 371.25 946 0.16 $ 506.25 59 0.88 $ 609.375 862 0.85 2,860,052 |
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 1,553 148.125 – 596.25 2014 836 162.50 – 431.25 2015 4,088 65.75 – 86.25 2016 144,422 2.25 – 5.13 2017 2,612,070 1.01 – 2.10 2018 325,595 0.97 – 1.35 Total 3,090,578 $0.97 – 596.25 Warrants: Year Shares Price 2013 1,126 337.50 – 371.25 2014 6,455 243.75 – 609.38 2015 94,151 0.00 – 243.75 2016 756,999 4.46 2017 1,082,946 1.07 – 2.25 2018 918,375 1.00 Total 2,860,052 $0.00 – 609.38 |
Note 5 - Loss Per Share (Tables
Note 5 - Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended March 31, 2018 2017 Numerator: Net loss available in basic and diluted calculation $ (1,760,022 ) $ (1,341,847 ) Other comprehensive income: Unrealized gain from marketable securities - - Comprehensive (loss) (1,760,022 ) (1,341,847 ) Denominator: Weighted average common shares outstanding-basic 11,383,217 6,450,967 Effect of diluted stock options, warrants and preferred stock (1) - - Weighted average common shares outstanding-basic 11,383,217 6,450,967 Loss per common share-basic and diluted $ (0.15 ) $ (0.21 ) |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | March 31, 2018 December 31, Deferred Tax Asset: Net Operating Loss $ 8,554,404 $ 7,393,000 Other 192,522 215,843 Total Deferred Tax Asset 8,746,926 7,608,943 Less Valuation Allowance 8,746,926 7,608,943 Net Deferred Income Taxes $ — $ — |
Note 7 - Rent Obligation (Table
Note 7 - Rent Obligation (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Schedule of Rent Expense [Table Text Block] | 2018 $ 29,250 2019 $ 40,000 2020 $ 42,000 2021 $ 3,000 |
Note 1 - Summary of Significa24
Note 1 - Summary of Significant Accounting Policies (Details Textual) | Nov. 29, 2016USD ($) | Aug. 31, 2015USD ($) | Jan. 31, 2018USD ($) | Mar. 31, 2018USD ($)$ / sharesshares | Mar. 31, 2017USD ($) | Dec. 31, 2018 | Dec. 31, 2017USD ($)$ / sharesshares | Mar. 31, 2018USD ($)$ / sharesshares | Feb. 21, 2018$ / shares | Dec. 28, 2017$ / shares | Dec. 31, 2016USD ($) |
Common Stock, Shares, Outstanding, Ending Balance | shares | 11,804,073 | 6,943,283 | 11,804,073 | ||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (56,525,066) | $ (54,765,045) | $ (56,525,066) | ||||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 2,232,803 | $ 2,086,408 | 766,189 | 2,232,803 | $ 1,764,090 | ||||||
Stockholders' Equity, Period Increase (Decrease), Total | 35,840,380 | ||||||||||
Stock Issued During Period, Value, New Issues | 2,755,087 | $ 3,421,188 | |||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 13,800,000 | ||||||||||
Debt Instrument, Increase (Decrease), Net, Total | $ 5,685,000 | ||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | ||||||||||
Advertising Expense | 4,394 | 4,271 | |||||||||
Research and Development Expense, Total | 94,011 | 84,472 | |||||||||
Depreciation, Total | 14,496 | 15,685 | |||||||||
Amortization of Intangible Assets, Total | $ 3,671 | $ 2,888 | |||||||||
Valuation Allowance Percentage | 100.00% | 100.00% | |||||||||
Cash, Uninsured Amount | $ 1,984,163 | $ 1,984,163 | |||||||||
Number of Operating Segments | 2 | ||||||||||
Non-US [Member] | |||||||||||
Revenues, Total | $ 26,662 | ||||||||||
Earliest Tax Year [Member] | |||||||||||
Open Tax Year | 2,014 | ||||||||||
Scenario, Forecast [Member] | |||||||||||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||||||||||
Private Placement [Member] | |||||||||||
Stock Issued During Period, Value, New Issues | 1,213,819 | ||||||||||
IPO [Member] | |||||||||||
Stock Issued During Period, Value, New Issues | 13,555,003 | ||||||||||
Proceeds from Issuance or Sale of Equity, Total | 3,937,500 | ||||||||||
The 2016 Registered Direct Offering [Member] | |||||||||||
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, Total | $ 1,983,337 | ||||||||||
Over-Allotment Option [Member] | |||||||||||
Stock Issued During Period, Value, New Issues | $ 204,422 | $ 393,750 | |||||||||
Proceeds from Issuance or Sale of Equity, Total | 358,312 | ||||||||||
The 2018 Public Offering [Member] | |||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2,755,000 | 2,755,000 | |||||||||
Series A Convertible Preferred Stock [Member] | Private Placement [Member] | |||||||||||
Stock Issued During Period, Value, New Issues | 2,055,000 | ||||||||||
Series C Convertible Preferred Stock [Member] | Private Placement [Member] | |||||||||||
Stock Issued During Period, Value, New Issues | $ 1,300,000 | ||||||||||
Helomics Holding Corp. [Member] | |||||||||||
Share Exchange Agreement, Potential Interest | 25.00% | 25.00% |
Note 1 - Summary of Significa25
Note 1 - Summary of Significant Accounting Policies - Schedule of Inventory (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Finished goods | $ 32,967 | $ 62,932 |
Raw materials | 183,216 | 141,028 |
Work-In-Process | 56,373 | 61,085 |
Total | $ 272,556 | $ 265,045 |
Note 1 - Summary of Significa26
Note 1 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment, Useful Life (Details) | 3 Months Ended |
Mar. 31, 2018 | |
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 ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Property, Plant, and Equipment Gross | $ 394,275 | $ 361,486 |
Less: Accumulated depreciation | 288,266 | 273,770 |
Total Fixed Assets, Net | 106,009 | 87,716 |
Office Equipment [Member] | ||
Property, Plant, and Equipment Gross | 190,484 | 183,528 |
Leasehold Improvements [Member] | ||
Property, Plant, and Equipment Gross | 41,397 | 25,635 |
Manufacturing Tooling [Member] | ||
Property, Plant, and Equipment Gross | 108,955 | 108,955 |
Demo Equipment [Member] | ||
Property, Plant, and Equipment Gross | $ 53,439 | $ 43,368 |
Note 2 - Revenue Recognition (D
Note 2 - Revenue Recognition (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2017 | |
Maintenance Plan, Service Requirement, Period Subsequent to One Year Anniversary of Invoice | 1 year | |
Standard Product Warranty, Term | 1 year | |
Accounts Receivable, Net, Current, Total | $ 241,764 | $ 137,499 |
Contract with Customer, Liability, Current | $ 38,856 | $ 6,663 |
Minimum [Member] | ||
Standard Payment Term for Customers | 30 days | |
Maximum [Member] | ||
Standard Payment Term for Customers | 60 days |
Note 3 - Stockholders' Equity29
Note 3 - Stockholders' Equity, Stock Options and Warrants (Details Textual) | Apr. 01, 2018USD ($)shares | Mar. 12, 2018$ / sharesshares | Feb. 21, 2018USD ($)$ / sharesshares | Jan. 15, 2018$ / sharesshares | Jan. 11, 2018USD ($)shares | Nov. 30, 2017USD ($)$ / sharesshares | Nov. 29, 2016USD ($)$ / sharesshares | Mar. 31, 2016shares | Aug. 31, 2015USD ($)$ / sharesshares | Feb. 04, 2014USD ($)$ / sharesshares | Jan. 31, 2018USD ($)$ / sharesshares | Mar. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Mar. 31, 2017USD ($) | Jul. 06, 2016shares | Sep. 30, 2016$ / sharesshares | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Mar. 31, 2018USD ($)$ / sharesshares | Jan. 02, 2018shares | Dec. 28, 2017$ / sharesshares | Jan. 29, 2017shares | Oct. 27, 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, Total | $ | $ 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 | $ 0.01 | |||||||||||||||||||
Share Price | $ / shares | $ 4.125 | ||||||||||||||||||||||||
Class of Warrant or Right, Outstanding | 2,860,052 | 2,860,052 | |||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,755,087 | $ 3,421,188 | |||||||||||||||||||||||
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 | 24,000,000 | 8,000,000 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 1,957,291 | 1,957,291 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares | $ 2.18 | $ 2.18 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 9 years 83 days | ||||||||||||||||||||||||
Class of Warrant or Right Number of Warrants Vested and Exercisable | 2,860,052 | 2,860,052 | |||||||||||||||||||||||
Allocated Share-based Compensation Expense, Total | $ | $ 226,387 | $ 99,307 | |||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | $ 1,180,348 | $ 1,180,348 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost | $ | $ 1,900,000 | ||||||||||||||||||||||||
Vice President of Sales [Member] | |||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 50,000 | ||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.97 | ||||||||||||||||||||||||
Number of Equal Installments Options are Expected to Vest | 4 | ||||||||||||||||||||||||
Vice President of Sales and Marketing [Member] | |||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 111,112 | ||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 1.35 | ||||||||||||||||||||||||
Number of Equal Installments Options are Expected to Vest | 4 | ||||||||||||||||||||||||
Stock Incentive Plan 2012 [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,500,000 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 5,000,000 | ||||||||||||||||||||||||
The 2016 Registered Direct Offering [Member] | |||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 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, 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 | |||||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.26 | ||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 1,213,819 | ||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 606,910 | ||||||||||||||||||||||||
Class of Warrant or Right Term | 5 years 182 days | ||||||||||||||||||||||||
Class of Warrant or Right, Vesting Period | 180 days | ||||||||||||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock | $ | $ 1,300,000 | ||||||||||||||||||||||||
The 2018 Public Offering [Member] | |||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 2,755,000 | $ 2,755,000 | |||||||||||||||||||||||
Share Price | $ / shares | $ 0.95 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 2,900,000 | ||||||||||||||||||||||||
Over-Allotment Option [Member] | |||||||||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 0.9497 | $ 0.9497 | $ 0.9497 | ||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 358,312 | ||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 204,422 | $ 393,750 | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 215,247 | ||||||||||||||||||||||||
Sale of Stock, Underwriter Option Term | 45 days | ||||||||||||||||||||||||
Sale of Stock, Underwriter Option, Maximum Additional Shares of Common Stock Available for Purchase | 290,000 | ||||||||||||||||||||||||
Sale of Stock, Underwriter Option, Number of Securities Called by Maximum Additional Warrants Available for Purchase | 87,000 | ||||||||||||||||||||||||
Sale of Stock, Underwriter Option, Exercise Price of Additional Warrants Available for Purchase | $ / shares | $ 0.001 | ||||||||||||||||||||||||
Proceeds from Underwriter Shares Exercised, Net | $ | $ 188,066 | ||||||||||||||||||||||||
Stock Issued During Period, Underwriter Discount | $ | $ 16,354 | ||||||||||||||||||||||||
Underwriter Discount Percentage | 8.00% | ||||||||||||||||||||||||
Conversion from Series C Convertible Preferred Stock to Common Stock [Member] | |||||||||||||||||||||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 1.167 | 1.167 | |||||||||||||||||||||||
Conversion of Stock, Shares Issued | 1,250,269 | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance | 79,246 | 79,246 | 79,246 | 79,246 | |||||||||||||||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | ||||||||||||||||||||||||
Series C Convertible Preferred Stock [Member] | |||||||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 647,819 | 647,819 | 0 | |||||||||||||||||||||
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, Number of Securities Called by Each Warrant or Right | 1 | ||||||||||||||||||||||||
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 E Warrants [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1 | $ 1 | |||||||||||||||||||||||
Series E Warrants [Member] | The 2018 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 | $ 1 | ||||||||||||||||||||||||
Class of Warrant or Right, Issued per Unit | 0.3 | ||||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 589,747 | 660,522 | |||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 29,000 | $ 17,500 | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 2,900,000 | 1,750,000 | |||||||||||||||||||||||
Common Stock [Member] | Private Placement [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | |||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | |||||||||||||||||||||||||
Common Stock [Member] | Over-Allotment Option [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 2,153 | $ 1,750 | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 215,247 | 175,000 | |||||||||||||||||||||||
Common Stock [Member] | Series E Warrants [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, Warrants Exercised | 55,796 | ||||||||||||||||||||||||
Preferred Stock [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | |||||||||||||||||||||||||
Preferred Stock [Member] | Private Placement [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | 12,138 | ||||||||||||||||||||||||
Preferred Stock [Member] | Over-Allotment Option [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | |||||||||||||||||||||||||
Preferred Stock [Member] | Series C Convertible Preferred Stock [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||
Stock Redeemed or Called During Period, Shares | 142,466 | ||||||||||||||||||||||||
Payments for Repurchase of Convertible Preferred Stock | $ | $ 189,285 | ||||||||||||||||||||||||
Preferred Stock [Member] | Series C Convertible Preferred Stock [Member] | Private Placement [Member] | |||||||||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 1.071 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,213,819 | ||||||||||||||||||||||||
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 | 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 | $ 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 | 35,084 | |||||||||||||||||||||||
Class of Warrant or Right Cash less Exercise Common Stock Price That Would Result in a Dilutive Exercise | $ / shares | $ 0.43 | $ 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 | ||||||||||||||||||||||||
Helomics Holding Corp. [Member] | |||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,100,000 | ||||||||||||||||||||||||
Share Exchange Agreement, Shares Received | 2,500,000 | ||||||||||||||||||||||||
Share Exchange Agreement, Convertible Notes Receivable | $ | $ 500,000 | $ 500,000 | |||||||||||||||||||||||
Share Exchange Agreement, Convertible Notes, Percent of Stock | 5.00% | 5.00% | |||||||||||||||||||||||
Share Exchange Agreement, Potential Interest | 25.00% | 25.00% | |||||||||||||||||||||||
Share Exchange Agreement, Number of Shares Held in Escrow | 1,100,000 | 1,100,000 | |||||||||||||||||||||||
Share Exchange Agreement, Contingent Revenue, Minimum | $ | $ 8,000,000 | ||||||||||||||||||||||||
Convertible Preferred Stock Held, Conversion Feature, Percent | 20.00% | ||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||
Underwriting Agreement Expenses Agreed to Reimburse the Underwriter | $ | $ 70,000 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 609.38 | $ 609.38 | |||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 596.25 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.87% | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 66.00% | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 1.0044 | ||||||||||||||||||||||||
Maximum [Member] | Equity Incentive Plan [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 | ||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0 | $ 0 | |||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.97 | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.33% | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 59.00% | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 0.4816 | ||||||||||||||||||||||||
Minimum [Member] | Equity Incentive Plan [Member] | |||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 3 years | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
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 | 325,595 | 2,612,070 | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 1.11 | $ 1.45 | |||||||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 180 days |
Note 3 - Stockholders' Equity30
Note 3 - Stockholders' Equity, Stock Options and Warrants - Summary of Transactions for Stock Options and Warrants (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Number of Shares Outstanding (in shares) | 3,090,578 | ||
Warrant [Member] | |||
Number of Shares Outstanding (in shares) | 1,951,257 | 1,951,257 | 871,101 |
Average Exercise Price Outstanding (in dollars per share) | $ 23.74 | $ 23.74 | $ 52.22 |
Number of Shares Issued (in shares) | 957,000 | 1,082,946 | |
Average Exercise Price Issued (in dollars per share) | $ 1 | $ 1.49 | |
Number of Shares Expired (in shares) | (9,580) | (2,790) | |
Average Exercise Price Expired (in dollars per share) | $ 180.12 | $ 281.46 | |
Number of Shares Exercised (in shares) | (38,625) | ||
Average Exercise Price Exercised (in dollars per share) | $ 1 | ||
Number of Shares Outstanding (in shares) | 2,860,052 | 1,951,257 | |
Average Exercise Price Outstanding (in dollars per share) | $ 5.61 | $ 23.74 | |
Employee Stock Option [Member] | |||
Number of Shares Outstanding (in shares) | 2,764,983 | 2,764,983 | 165,643 |
Average Exercise Price Outstanding (in dollars per share) | $ 2 | $ 2 | $ 11.22 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 325,595 | 2,612,070 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.11 | $ 1.45 | |
Number of Shares Expired (in shares) | (12,730) | ||
Average Exercise Price Expired (in dollars per share) | $ 10.39 | ||
Number of Shares Exercised (in shares) | |||
Average Exercise Price Exercised (in dollars per share) | |||
Number of Shares Outstanding (in shares) | 3,090,578 | 2,764,983 | |
Average Exercise Price Outstanding (in dollars per share) | $ 1.89 | $ 2 |
Note 3 - Stockholders' Equity31
Note 3 - Stockholders' Equity, Stock Options and Warrants - Summary of Status of Options and Warrants Outstanding (Details) | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Shares, options (in shares) | 3,090,578 |
Shares, warrants (in shares) | 2,860,052 |
Weighted average remaining life, warrants (Year) | |
Warrant One [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 1 |
Shares, warrants (in shares) | 1,675,374 |
Weighted average remaining life, warrants (Year) | 4 years 142 days |
Warrant Two [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 1.07 |
Shares, warrants (in shares) | 697,946 |
Weighted average remaining life, warrants (Year) | 4 years 219 days |
Warrant Three [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 2.25 |
Shares, warrants (in shares) | 385,000 |
Weighted average remaining life, warrants (Year) | 3 years 299 days |
Warrant Four [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 123.75 |
Shares, warrants (in shares) | 94,084 |
Weighted average remaining life, warrants (Year) | 2 years 153 days |
Warrant Five [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 243.75 |
Shares, warrants (in shares) | 2,529 |
Weighted average remaining life, warrants (Year) | 1 year 127 days |
Warrant Six [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 309.375 |
Shares, warrants (in shares) | 2,850 |
Weighted average remaining life, warrants (Year) | 1 year 131 days |
Warrant Seven [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 309.50 |
Shares, warrants (in shares) | 222 |
Weighted average remaining life, warrants (Year) | 1 year 222 days |
Warrant Eight [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 337.50 |
Shares, warrants (in shares) | 178 |
Weighted average remaining life, warrants (Year) | 80 days |
Warrant Nine [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 371.25 |
Shares, warrants (in shares) | 946 |
Weighted average remaining life, warrants (Year) | 58 days |
Warrant Ten [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 506.25 |
Shares, warrants (in shares) | 59 |
Weighted average remaining life, warrants (Year) | 321 days |
Warrant Eleven [Member] | |
Exercise price per share (in dollars per share) | $ / shares | $ 609.375 |
Shares, warrants (in shares) | 862 |
Weighted average remaining life, warrants (Year) | 310 days |
Stock Options One [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 0.97 |
Shares, options (in shares) | 191,753 |
Weighted average remaining life, options (Year) | 9 years 281 days |
Stock Options Two [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 1.01 |
Shares, options (in shares) | 124,358 |
Weighted average remaining life, options (Year) | 9 years 277 days |
Stock Options Three [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 1.10 |
Shares, options (in shares) | 22,730 |
Weighted average remaining life, options (Year) | 10 years |
Stock Options Four [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 1.35 |
Shares, options (in shares) | 111,112 |
Weighted average remaining life, options (Year) | 9 years 350 days |
Stock Options Five [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) | 9 years 186 days |
Stock Options Six [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 1.47 |
Shares, options (in shares) | 2,456,226 |
Weighted average remaining life, options (Year) | 9 years 87 days |
Stock Options Seven [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 3 days |
Stock Options Eight [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 149 days |
Stock Options Nine [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 142 days |
Stock Options Ten [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) | 8 years 277 days |
Stock Options Eleven [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 94 days |
Stock Options Twelve [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) | 8 years 186 days |
Stock Options Thirteen [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 171 days |
Stock Options Fourteen [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 3 days |
Stock Options Fifteen [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 160 days |
Stock Options Sixteen [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 204 days |
Stock Options Seventeen [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) | 7 years 277 days |
Stock Options Eighteen [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 91 days |
Stock Options Nineteen [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 80.25 |
Shares, options (in shares) | 187 |
Weighted average remaining life, options (Year) | 7 years 186 days |
Stock Options Twenty [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 3 days |
Stock Options Twenty One [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 160 days |
Stock Options Twenty Two [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 148.125 |
Shares, options (in shares) | 928 |
Weighted average remaining life, options (Year) | 4 years 354 days |
Stock Options Twenty Three [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 138 days |
Stock Options Twenty Four [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 162.50 |
Shares, options (in shares) | 123 |
Weighted average remaining life, options (Year) | 6 years 277 days |
Stock Options Twenty Five [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 206.25 |
Shares, options (in shares) | 121 |
Weighted average remaining life, options (Year) | 6 years 186 days |
Stock Options Twenty Six [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 105 days |
Stock Options Twenty Seven [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 105 days |
Stock Options Twenty Eight [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 281.25 |
Shares, options (in shares) | 529 |
Weighted average remaining life, options (Year) | 4 years 292 days |
Stock Options Twenty Nine [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 40 days |
Stock Options Thirty [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 3 days |
Stock Options Thirty-One [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 431.25 |
Shares, options (in shares) | 306 |
Weighted average remaining life, options (Year) | 5 years 343 days |
Stock Options Thirty-Two [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 506.25 |
Shares, options (in shares) | 188 |
Weighted average remaining life, options (Year) | 5 years 277 days |
Stock Options Thirty-Three [Member] | |
Range of exercise prices, options (in dollars per share) | $ / shares | $ 596.25 |
Shares, options (in shares) | 42 |
Weighted average remaining life, options (Year) | 5 years 182 days |
Note 3 - Stockholders' Equity32
Note 3 - Stockholders' Equity, Stock Options and Warrants - Schedule of Listing of Stock Options and Warrants (Details) | 3 Months Ended |
Mar. 31, 2018$ / sharesshares | |
Shares, options (in shares) | shares | 3,090,578 |
Shares, warrants (in shares) | shares | 2,860,052 |
Minimum [Member] | |
Price, options (in dollars per share) | $ 0.97 |
Exercise price per share (in dollars per share) | 0 |
Maximum [Member] | |
Price, options (in dollars per share) | 596.25 |
Exercise price per share (in dollars per share) | $ 609.38 |
Warrants 2013 [Member] | |
Shares, warrants (in shares) | shares | 1,126 |
Warrants 2013 [Member] | Minimum [Member] | |
Exercise price per share (in dollars per share) | $ 337.50 |
Warrants 2013 [Member] | Maximum [Member] | |
Exercise price per share (in dollars per share) | $ 371.25 |
Warrants 2014 [Member] | |
Shares, warrants (in shares) | shares | 6,455 |
Warrants 2014 [Member] | Minimum [Member] | |
Exercise price per share (in dollars per share) | $ 243.75 |
Warrants 2014 [Member] | Maximum [Member] | |
Exercise price per share (in dollars per share) | $ 609.38 |
Warrants 2015 [Member] | |
Shares, warrants (in shares) | shares | 94,151 |
Warrants 2015 [Member] | Minimum [Member] | |
Exercise price per share (in dollars per share) | $ 0 |
Warrants 2015 [Member] | Maximum [Member] | |
Exercise price per share (in dollars per share) | $ 243.75 |
Warrants 2016 [Member] | |
Shares, warrants (in shares) | shares | 756,999 |
Exercise price per share (in dollars per share) | $ 4.46 |
Warrants 2017 [Member] | |
Shares, warrants (in shares) | shares | 1,082,946 |
Warrants 2017 [Member] | Minimum [Member] | |
Exercise price per share (in dollars per share) | $ 1.07 |
Warrants 2017 [Member] | Maximum [Member] | |
Exercise price per share (in dollars per share) | $ 2.25 |
Warrants 2018 [Member] | |
Shares, warrants (in shares) | shares | 918,375 |
Exercise price per share (in dollars per share) | $ 1 |
Stock Options 2011 [Member] | |
Shares, options (in shares) | shares | 173 |
Price, options (in dollars per share) | $ 281.25 |
Stock Options 2012 [Member] | |
Shares, options (in shares) | 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) | shares | 1,553 |
Stock Options 2013 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 148.125 |
Stock Options 2013 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 596.25 |
Stock Options 2014 [Member] | |
Shares, options (in shares) | shares | 836 |
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) | 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) | shares | 144,422 |
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) | shares | 2,612,070 |
Stock Options 2017 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.01 |
Stock Options 2017 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 2.10 |
Stock Options 2018 [Member] | |
Shares, options (in shares) | shares | 325,595 |
Stock Options 2018 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 0.97 |
Stock Options 2018 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 1.35 |
Note 4 - Notes Receivable (Deta
Note 4 - Notes Receivable (Details Textual) - USD ($) | 1 Months Ended | |||
Mar. 31, 2018 | Dec. 31, 2017 | Nov. 30, 2017 | Jul. 31, 2017 | |
Advance to Helomics [Member] | ||||
Notes Receivable, Interest Rate, Stated Percentage | 8.00% | |||
Payments to Acquire Notes Receivable | $ 600,000 | |||
Advances to De Lage Landen [Member] | ||||
Payments to Acquire Notes Receivable | $ 67,512.10 | |||
CytoBioscience [Member] | Promissory Notes Receivable [Member] | ||||
Notes Receivable, Interest Rate, Stated Percentage | 8.00% | 8.00% | ||
Financing Receivable, Net, Total | $ 1,112,524 | $ 1,070,000 | ||
Notes Receivable, Term | 2 years | |||
Helomics Holding Corp. [Member] | ||||
Financing Receivable, Net, Total | $ 167,512.10 | |||
Share Exchange Agreement, Outstanding Receivables, Amount Converted | $ 500,000 | |||
Share Exchange Agreement, Shares Received Upon Conversion of Receivables | 833,333 | |||
Share Exchange Agreement, Convertible Notes, Percent of Stock | 5.00% | |||
Investment, Ownership Percent | 25.00% |
Note 5 - Loss Per Share (Detail
Note 5 - Loss Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Options and Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 5,950,630 | 1,427,558 |
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 | 12 Months Ended | ||
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | ||
Net loss available in basic and diluted calculation | $ (1,760,022) | $ (1,341,847) | $ (7,746,593) | |
Unrealized gain from marketable securities | $ (1,501) | |||
Comprehensive (loss) | $ (1,760,022) | $ (1,341,847) | ||
Weighted average common shares outstanding-basic (in shares) | 11,383,217 | 6,450,967 | ||
Effect of diluted stock options, warrants and preferred stock (1) (in shares) | [1] | |||
Loss per common share - basic and diluted (in dollars per share) | $ (0.15) | $ (0.21) | ||
[1] | The number of shares underlying options and warrants outstanding as of March 31, 2018 and March 31, 2017 are 5,950,631 and 1,427,558 respectively. The number of shares underlying the preferred stock as of March 31, 2018 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 ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 34.00% | ||
Income Tax Expense (Benefit), Total | $ 0 | ||
Valuation Allowance Percentage | 100.00% | ||
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | $ 36,100 | $ 34,500 | |
Operating Loss Carryforwards, Valuation Allowance, Total | 7,700 | 7,400 | |
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | 12,400 | 12,200 | |
Operating Loss Carryforwards, Valuation Allowance, Total | $ 1,000 | $ 200 | |
Scenario, Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% |
Note 6 - Income Taxes - Compone
Note 6 - Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Net Operating Loss | $ 8,554,404 | $ 7,393,000 |
Other | 192,522 | 215,843 |
Total Deferred Tax Asset | 8,746,926 | 7,608,943 |
Less Valuation Allowance | 8,746,926 | 7,608,943 |
Net Deferred Income Taxes | $ 0 | $ 0 |
Note 7 - Rent Obligation (Detai
Note 7 - Rent Obligation (Details Textual) | 3 Months Ended | |
Mar. 31, 2018USD ($)ft² | Mar. 31, 2017USD ($) | |
Operating Leases, Rent Expense, Total | $ | $ 17,244 | $ 16,895 |
Corporate Office, Minnesota [Member] | ||
Lessee Leasing Arrangements Operating Leases Terms of Contract Cancellation | 3 years | |
Area of Real Estate Property | 5,773 | |
Corporate Office, Minnesota [Member] | Office Space [Member] | ||
Area of Real Estate Property | 2,945 | |
Corporate Office, Minnesota [Member] | Manufacturing Facility [Member] | ||
Area of Real Estate Property | 2,828 |
Note 7 - Rent Obligation - Rent
Note 7 - Rent Obligation - Rent Obligation (Details) | Mar. 31, 2018USD ($) |
2,018 | $ 29,250 |
2,019 | 40,000 |
2,020 | 42,000 |
2,021 | $ 3,000 |
Note 8 - Related Party Transa40
Note 8 - Related Party Transactions (Details Textual) - USD ($) | Sep. 20, 2016 | Apr. 30, 2018 |
Director [Member] | Subsequent Event [Member] | ||
Related Party Transaction, Monthly Cash Payment | $ 12,000 | |
Director [Member] | Subsequent Event [Member] | Restricted Stock Units (RSUs) [Member] | Stock Incentive Plan 2012 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 240,000 | |
GLG Pharma, LLC. [Member] | ||
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 | 12 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | |
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 Contribution Amount | $ 11,907 | $ 9,770 |
Note 10 - Subsequent Events (De
Note 10 - Subsequent Events (Details Textual) - USD ($) | Apr. 20, 2018 | Jan. 11, 2018 | Apr. 30, 2018 |
Helomics Holding Corp. [Member] | |||
Stock Issued During Period, Shares, New Issues | 1,100,000 | ||
Convertible Preferred Stock Held, Conversion Feature, Percent | 20.00% | ||
Subsequent Event [Member] | Helomics Holding Corp. [Member] | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 7,500,000 | ||
Director [Member] | Subsequent Event [Member] | |||
Related Party Transaction, Monthly Cash Payment | $ 12,000 | ||
Director [Member] | Subsequent Event [Member] | Stock Incentive Plan 2012 [Member] | Restricted Stock Units (RSUs) [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 240,000 |