Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 26, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | Precision Therapeutics Inc. | ||
Entity Central Index Key | 0001446159 | ||
Trading Symbol | aipt | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 15,792,586 | ||
Entity Public Float | $ 13,584,316 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Current Assets: | ||
Cash & cash equivalents | $ 162,152 | $ 766,189 |
Certificates of deposit | 244,971 | |
Accounts Receivable | 232,602 | 137,499 |
Notes Receivable (inclusive of $452,775 in advances to Helomics) | 497,276 | 667,512 |
Inventories | 241,066 | 265,045 |
Prepaid Expense and other assets | 318,431 | 289,966 |
Total Current Assets | 1,451,527 | 2,371,182 |
Notes Receivable | 1,112,524 | 1,070,000 |
Fixed Assets, net | 180,453 | 87,716 |
Intangibles, net | 964,495 | 95,356 |
Total Assets | 3,708,999 | 3,624,254 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts Payable | 445,689 | 140,462 |
Notes Payable – Bridge Loan Net of Discount | 1,327,942 | |
Notes Payable – Net of Discount | 306,972 | |
Accrued Expenses | 1,279,114 | 785,215 |
Derivative Liability | 272,745 | |
Deferred Revenue | 23,065 | 6,663 |
Total Current Liabilities | 3,655,527 | 932,340 |
Total Liabilities | 3,655,527 | 932,340 |
Stockholders’ Equity: | ||
Common Stock, $.01 par value, 50,000,000 authorized, 14,091,748 and 6,943,283 outstanding | 140,917 | 69,432 |
Additional paid-in capital | (63,019,708) | (55,636,680) |
Accumulated deficit | 63,107,945 | 53,021,469 |
Total Stockholders' Equity | 53,472 | 2,691,914 |
Total Liabilities and Stockholders' Equity | 3,708,999 | 3,624,254 |
Series B Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Preferred stock | 792 | 792 |
Series C Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Preferred stock | $ 6,479 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 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) | 14,091,748 | 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 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue | $ 1,411,655 | $ 654,836 |
Cost of goods sold | 415,764 | 148,045 |
Gross margin | 995,891 | 506,791 |
General and administrative expense | 4,626,997 | 4,050,307 |
Operations expense | 1,861,121 | 1,414,774 |
Sales and marketing expense | 2,369,152 | 1,095,232 |
Total operating loss | 7,861,379 | 6,053,523 |
Other income | 510,254 | 53,734 |
Other expense | 441,772 | 3,228 |
Loss on equity method investment | (2,293,580) | |
Net loss available to common shareholders | $ (10,086,477) | $ (6,003,017) |
Loss per common share - basic and diluted (in dollars per share) | $ (0.79) | $ (0.94) |
Weighted average shares used in computation - basic and diluted (in shares) | 12,816,289 | 6,362,989 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Over-Allotment Option [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Over-Allotment Option [Member]Preferred Stock [Member]Series B 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] | Private Placement [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Private Placement [Member]Preferred Stock [Member]Series B 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] | Consulting Agreement One [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Consulting Agreement One [Member]Preferred Stock [Member]Series B 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]Series B 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] | Investor Relations Consultant [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Investor Relations Consultant [Member]Preferred Stock [Member]Series B 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] | Consultant Contract One [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Consultant Contract One [Member]Preferred Stock [Member]Series B Preferred Stock [Member] | Consultant Contract One [Member]Preferred Stock [Member] | Consultant Contract One [Member]Common Stock [Member] | Consultant Contract One [Member]Additional Paid-in Capital [Member] | Consultant Contract One [Member]Retained Earnings [Member] | Consultant Contract One [Member]AOCI Attributable to Parent [Member] | Consultant Contract One [Member] | Consultant Contract Two [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Consultant Contract Two [Member]Preferred Stock [Member]Series B Preferred Stock [Member] | Consultant Contract Two [Member]Preferred Stock [Member] | Consultant Contract Two [Member]Common Stock [Member] | Consultant Contract Two [Member]Additional Paid-in Capital [Member] | Consultant Contract Two [Member]Retained Earnings [Member] | Consultant Contract Two [Member]AOCI Attributable to Parent [Member] | Consultant Contract Two [Member] | Contract with TumorGenesis [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Contract with TumorGenesis [Member]Preferred Stock [Member]Series B Preferred Stock [Member] | Contract with TumorGenesis [Member]Preferred Stock [Member] | Contract with TumorGenesis [Member]Common Stock [Member] | Contract with TumorGenesis [Member]Additional Paid-in Capital [Member] | Contract with TumorGenesis [Member]Retained Earnings [Member] | Contract with TumorGenesis [Member]AOCI Attributable to Parent [Member] | Contract with TumorGenesis [Member] | Helomics Holding Corp. [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Helomics Holding Corp. [Member]Preferred Stock [Member]Series B 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] | Series E Warrants [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Series E Warrants [Member]Preferred Stock [Member]Series B 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] | Re-priced Warrants [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Re-priced Warrants [Member]Preferred Stock [Member]Series B Preferred Stock [Member] | Re-priced Warrants [Member]Preferred Stock [Member] | Re-priced Warrants [Member]Common Stock [Member] | Re-priced Warrants [Member]Additional Paid-in Capital [Member] | Re-priced Warrants [Member]Retained Earnings [Member] | Re-priced Warrants [Member]AOCI Attributable to Parent [Member] | Re-priced Warrants [Member] | Bridge Loan Warrants [Member]Preferred Stock [Member] | Bridge Loan Warrants [Member]Common Stock [Member] | Bridge Loan Warrants [Member]Additional Paid-in Capital [Member] | Bridge Loan Warrants [Member]Retained Earnings [Member] | Bridge Loan Warrants [Member]AOCI Attributable to Parent [Member] | Bridge Loan Warrants [Member] | Note Payable Warrants [Member]Preferred Stock [Member] | Note Payable Warrants [Member]Common Stock [Member] | Note Payable Warrants [Member]Additional Paid-in Capital [Member] | Note Payable Warrants [Member]Retained Earnings [Member] | Note Payable Warrants [Member]AOCI Attributable to Parent [Member] | Note Payable Warrants [Member] | Preferred Stock [Member]Series C Preferred Stock [Member] | Preferred Stock [Member]Series B Preferred Stock [Member] | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balance at Dec. 31, 2016 | $ 792 | $ 45,644 | $ 47,894,196 | $ (47,018,451) | $ 1,501 | $ 923,682 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2016 | 79,246 | 4,564,428 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to the public offering | $ 1,750 | $ 392,000 | $ 393,750 | $ 12,138 | $ 1,201,681 | $ 1,213,819 | $ 500 | $ 78,500 | $ 79,000 | $ 17,500 | 3,403,688 | 3,421,188 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to the public offering (in shares) | 175,000 | 1,213,819 | 50,000 | 1,750,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 2,298,680 | 2,298,680 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse shares issued for escrow with GLG Pharma pursuant to the termination agreement | $ (4,000) | (4,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reverse shares issued for escrow with GLG Pharma pursuant to the termination agreement (in shares) | (400,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for services | $ 1,000 | $ 219,000 | $ 220,000 | $ 433 | $ 63,699 | $ 64,132 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for services (in shares) | 100,000 | 43,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Unrealized (loss) from marketable securities | (1) | (1,501) | (1,501) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement | (5,659) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement (in shares) | (566,000) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement (in shares) | 660,522 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement | $ 6,604 | 85,236 | 86,182 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (6,003,017) | (6,003,017) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | 7,271 | $ 69,432 | 55,636,680 | (53,021,469) | 2,691,914 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2017 | 647,819 | 79,246 | 6,943,283 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to the public offering | $ 2,153 | $ 202,268 | $ 1 | $ 204,422 | $ 29,000 | 2,726,087 | 2,755,087 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to the public offering (in shares) | 215,247 | 2,900,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 1,124,928 | 1,124,928 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for services | $ 1,500 | $ 175,500 | $ 177,000 | $ 1,000 | $ 117,000 | $ 118,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for services (in shares) | 150,000 | 100,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement | (6,479) | (6,479) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement (in shares) | (647,819) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement (in shares) | 589,747 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to a private placement agreement | $ 5,897 | 582 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (10,086,477) | (10,086,477) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | 792 | $ 140,917 | 63,019,708 | (63,107,945) | 53,472 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 79,246 | 14,091,748 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Subsidiary pursuant to Helomics 20% acquisition | $ 11,000 | $ 1,031,250 | $ 1,042,250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Subsidiary pursuant to Helomics 20% acquisition (in shares) | 1,100,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercises | $ 1,454 | $ 143,942 | $ 145,396 | $ 5,046 | $ 499,619 | $ 504,665 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercises (in shares) | 145,396 | 504,666 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in escrow pursuant to a contract with TumorGenesis @ $1.17 per share | $ 7,500 | $ 870,000 | $ 877,500 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in escrow pursuant to a contract with TumorGenesis @ $1.17 per share (in shares) | 750,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Discount on Warrants | $ 183,187 | $ 183,187 | $ 68,757 | $ 68,757 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued as inducement for Bridge Loan | $ 6,500 | 200,105 | 206,605 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued as inducement for Bridge Loan (in shares) | 650,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to employee in lieu of bonus | $ 435 | $ 39,803 | $ 40,238 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to employee in lieu of bonus (in shares) | 43,409 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Investor Relations Consultant [Member] | ||
Price of shares issued (in dollars per share) | $ 1.18 | |
Consultant Contract One [Member] | Common Stock [Member] | ||
Price of shares issued (in dollars per share) | $ 1.18 | |
Consultant Contract Two [Member] | Common Stock [Member] | ||
Price of shares issued (in dollars per share) | 1.18 | |
Contract with TumorGenesis [Member] | Common Stock [Member] | ||
Price of shares issued (in dollars per share) | 1.17 | |
Series E Warrants [Member] | Common Stock [Member] | ||
Warrant exercises, exercise price per share (in dollars per share) | 1 | |
Common Stock [Member] | Over-Allotment Option [Member] | ||
Price of shares issued (in dollars per share) | $ 0.9497 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flow from operating activities: | ||
Net loss | $ (10,086,477) | $ (6,003,017) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Loss on equity method investment | 2,293,580 | |
Depreciation and amortization | 147,628 | 71,562 |
Vesting expense for stock options and warrants | 1,124,928 | 2,298,680 |
Equity instruments issued for management and consulting | 335,238 | 359,133 |
Amortization of debt discount | 385,111 | |
Gain from sale of marketable securities | (1,837) | |
Gain on valuation of equity-linked instruments | (372,263) | |
Changes in assets and liabilities: | ||
Accounts receivable | (95,103) | (98,580) |
Inventories | 23,979 | 7,163 |
Prepaid expense and other assets | 139,895 | (141,329) |
Accounts payable | 305,227 | (79,650) |
Accrued expenses | 493,899 | (870,540) |
Deferred revenue | 16,402 | (1,335) |
Net cash used in operating activities | (5,287,956) | (4,459,750) |
Cash flow from investing activities: | ||
Proceeds from sale of marketable securities | 284,665 | |
Purchase of certificates of deposit | (3,084,971) | |
Redemption of certificates of deposit | 244,971 | 2,940,000 |
Advances on notes receivable | (1,123,619) | (1,737,512) |
Purchase of fixed assets | (177,732) | (45,093) |
Purchase of intangibles | (54,271) | (10,179) |
Net cash used in investing activities | (1,110,651) | (1,653,090) |
Cash flow from financing activities: | ||
Proceeds from exercise of warrants into common stock | 650,061 | |
Proceeds from debt issuance | 2,185,000 | |
Net proceeds from issuance of preferred stock | 1,300,001 | |
Proceeds from Issuance of Common Stock | 2,959,509 | 3,814,938 |
Net cash provided by financing activities | 5,794,570 | 5,114,939 |
Net decrease in cash | (604,037) | (997,901) |
Cash at beginning of period | 766,189 | 1,764,090 |
Cash at end of period | 162,152 | 766,189 |
Non-cash transactions in investing and financing activities | ||
Conversion of preferred stock to common stock | 6,479 | |
Equity method investment – Helomics | 1,542,250 | |
Licensing Fee for Tumorgenesis [Member] | ||
Non-cash transactions in investing and financing activities | ||
Stock issued for fees | $ 877,500 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Nature of Operations and Continuance of Operations 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 December 31, 2018, 14,091,748 $.01 April 2009, 510 The Company acquired 25% first 2018, April 2018 June 2018, 4. 149,000 first The accompanying 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 $63,107,945. not 2018, $441,000 no may The Company had cash and cash equivalents of $162,152 December 31, 2018 one not 3, $2.1 2019. may $1.7 $6.4 Since inception to December 31, 2018, $36,490,000 $7,870,000 January 2017 $3,937,500; November 2017 $1,300,000; January 2018 $2,755,000. September 2018 $1,815,000, November 2018 $370,000. December 31, 2018, $1,300,000. The Company has no Recent Accounting Developments Accounting Policies and Estimates The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018 not December 31, 2017. January 1, 2018 606, not 605, Revenue Recognition not December 31, 2017, not January 1, 2018, no 3 In January 2016, No. 2016 01, Financial Instruments-Overall (Subtopic 825 10 2016 01” not not January 1, 2018. December 31, 2018, no In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. 2016 02 January 1, 2019, no In August 2016, No. 2016 15, Statement of Cash Flows (Topic 230 December 15, 2017, January 1, 2018. December 31, 2018, no Valuation of Intangible Assets The Company reviews identifiable intangible assets for impairment in accordance with ASC 360 may not may not not Advertising Advertising costs are expensed as incurred. Advertising expenses were $43,548 2018 $37,060 2017. Research and Development Research and development costs are charged to operations as incurred. Research and development costs were approximately $526,000 $289,000 2018 2017, Revenue Recognition 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 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 Certification 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, which in 2018 1 Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management’s assessment of the current status of individual accounts. Changes to the valuation allowance have not Inventories Inventories are stated at the net realizable value, with cost determined on a first first December 31, December 31, Finished goods $ 58,701 $ 62,932 Raw materials 127,003 141,028 Work-In-Process 55,362 61,085 Total $ 241,066 $ 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. Depreciation is shown in the financial statements under fixed assets, net on the balance sheet, and amortization is shown under intangibles, net on the balance sheet. 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: December 31, December 31, Computers and office equipment $ 204,903 $ 183,528 Leasehold Improvements 140,114 25,635 Manufacturing Tooling 108,955 108,955 Demo Equipment 85,246 43,368 Total 539,218 361,486 Less: Accumulated Depreciation 358,765 273,770 Total Fixed Assets, Net $ 180,453 $ 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 $84,995 2018 $58,872 2017. Intangible Assets The components of intangible assets all of which are finite-lived were as follows: 12/31/2018 12/31/2017 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Patents & Trademarks $ 318,304 $ (182,559 ) $ 135,745 $ 264,032 $ (168,676 ) $ 95,356 Licensing Fees 877,500 (48,750 ) 828,750 - - - Total $ 1,195,804 $ (231,309 ) $ 964,495 $ 264,032 $ (168,676 ) $ 95,356 The following table outlines the estimated future amortization expense related to intangible assets held as of December 31, 2018 Year ending Expense 2019 72,383 2020 72,383 2021 72,383 2022 72,383 2023 72,383 Thereafter 602,580 Total 964,495 Intangible assets consist of trademarks, patent costs and licensing fees. Amortization expense was $62,633 2018 $12,689 2017. Income Taxes On December 22, 2017, 2017 34% 21%. no 100% The Company accounts for income taxes in accordance with ASC 740 Income Taxes 740” 740, 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 Offering Costs Costs incurred which are direct and incremental to an offering of the Company’s securities are deferred and charged against the proceeds of the offering, unless such costs are deemed to be insignificant in which case they are expensed as incurred. 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 no no Product Warranty Costs In 2018 2017, $10,682 $6,209, Segments The Company operates in two December 31, 2018 2017 2018 2017, Risks and Uncertainties The Company is subject to risks common to companies in the medical device industry, including, but not |
Note 2 - Equity Method Investme
Note 2 - Equity Method Investment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 2 The Company has an equity method investment in Helomics. Summarized financial information for Helomics is presented below: Helomics Holdings Corporation December 31, 2018 Current assets $ 419,266 Non-current assets $ 2,046,347 Total assets $ 2,465,613 Current liabilities $ 12,247,174 Total liabilities $ 12,247,174 For the Year-ended Ended December 31, 2018 Revenue $ 523,546 Gross margin $ 214,426 Net loss on operations $ (5,056,725 ) Net loss $ (9,452,835 ) Net Loss to investee $ (7,159,255 ) 1 1 80% January 11, 2018 – February 27, 2018, 75% twelve Helomics’ first $31,000 The Helomics loss reduces the equity method investment asset on the balance sheet. The recorded investor losses have exceeded the equity method investment originally recorded total. As such, the equity method investment recorded to the balance sheet has been reduced to zero $413,683, not December 31, 2018 $1,165,013. $751,330. |
Note 3 - Revenue Recognition
Note 3 - Revenue Recognition | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 3 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 December 31, 2018, December 31, 2017, $232,602 $137,499, The Company deferred revenues related primarily to maintenance plans of $23,065 $6,663 December 31, 2018 December 31, 2017, Practical Expedients The Company has elected the practical expedient not |
Note 4 - Stockholders’ Eq
Note 4 - Stockholders’ Equity (Deficit), Stock Options and Warrants | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 4 2017 On January 19, 2017, 1,750,000 $2.25 one 0.2 one $2.25 $3,937,500. 175,000 35,000 $0.01 $358,312. 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 Merger Agreement with Helomics On June 28, 2018, October 26, 2018, not 7.5 1.1 20% 860,000 18 $7.6 18.7 $1.00 5.0 $1.00 75% $7.6 0.6 $1.00 23.7 14.2 $1.00 995,000 $0.01 597,000 $0.01 Under the Merger Agreement, completion of the Merger is subject to customary closing conditions including the approval of the Merger by the stockholders of both companies and other conditions. The Merger Agreement likewise contains customary representations, warranties and covenants, including covenants obligating each of the Company and Helomics to continue to conduct their respective businesses in the ordinary course, and to provide reasonable access to each other’s information. Finally, the Merger Agreement contains certain termination rights in favor of each of the Company and Helomics. At a special meeting of stockholders on March 22, 2019, On July 10 11, 2018, 250,000 $0.01, $1.18 750,000 $0.01, $1.17 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. At the special meeting of stockholders on March 22, 2019, 50,000,000 100,000,000 $0.01 March 22, 2019. 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 market price on the date of issuance. 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 ASC 718 Compensation – Stock Compensation, (“ASC 718” 718 Since the Company's common stock has no no 2015 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. On April 19, 2017, 400,000 $0.01, For grants of stock options and warrants in 2017 1.92% 2.40% 0% 59% 66% 5 10 $0.6541 $1.5489 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% 3.07% 0% 59% 66% 5 10 $0.3816 $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 1,098,858 1.01 2,336,154 1.07 Expired (194,564 ) 2.00 (10,706 ) 199.55 Exercised - - (650,062 ) 1.00 Outstanding at December 31, 2018 3,669,277 $ 1.70 3,626,643 $ 4.17 At December 31, 2018, 2,946,488 $1.79 8.86 2,247,489 2018 2017 $1,124,928 $2,298,680, $741,922 20 The following summarizes the status of options and warrants outstanding at December 31, 2018: Range of Exercise Prices Shares Weighted Options: $0.619 201,908 10.00 $0.82 60,000 9.91 $0.91 10,000 9.30 $0.965 3,000 9.38 $0.97 191,753 9.02 $1.01 149,110 9.12 $1.06 23,585 9.76 $1.10 86,958 9.46 $1.13 195,931 9.55 $1.15 21,740 9.59 $1.16 66,451 9.59 $1.18 30,000 9.61 $1.20 41,668 9.59 $1.21 30,000 9.61 $1.35 111,112 9.20 $1.454 17,200 8.75 $1.47 2,305,790 8.48 $2.10 14,286 8.25 $2.25 293 7.65 $2.42 20,640 7.64 $2.80 57,145 8.01 $3.75 4,000 7.50 $4.125 3,636 7.75 $4.1975 7,147 7.72 $4.25 3,529 7.25 $5.125 3,902 7.69 $65.75 190 6.81 $73.50 1,157 7.01 $77.50 2,323 6.50 $80.25 187 6.75 $86.25 232 6.25 $131.25 81 3.69 $148.125 928 4.21 $150.00 1,760 3.63 $162.50 123 6.01 $206.25 121 5.75 $248.4375 121 4.54 $262.50 130 4.54 $281.25 529 4.04 $318.75 3 4.35 $346.875 72 5.25 $431.25 306 5.19 $506.25 188 5.00 $596.25 42 4.75 Total 3,669,277 Warrants: $0.836 221,292 4.92 $1.00 1,063,935 3.76 $1.07 697,946 3.85 $1.155 1,071,776 4.75 $1.3125 86,086 4.75 $2.25 385,000 3.06 $123.75 94,084 1.67 $243.75 2,529 0.59 $309.375 2,850 0.61 $309.50 222 0.85 $506.25 59 0.12 $609.375 862 0.09 Total 3,626,643 Stock options and warrants expire on various dates from January 2019 December 2028. The Company’s board of directors had determined that the Company would require additional authorized shares for anticipated equity financings, future equity offerings, strategic acquisition opportunities, and the continued issuance of equity awards under our stock incentive plan to recruit and retain key employees, and for other proper corporate purposes. As a result, the board of directors called a special meeting of the stockholders that took place on January 29, 2017. 8,000,000 24,000,000 December 28, 2017, January 2, 2018, 24,000,000 50,000,000 $0.01 2012 5,000,000, December 4, 2017, 2012 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 outstanding stock options and warrants as of December 31, 2018 Stock Options: Year Shares Price 2011 173 281.25 2012 1,841 131.25 – 150.00 2013 1,553 148.13 – 596.25 2014 836 162.50 – 431.25 2015 4,088 65.75 – 86.25 2016 100,294 2.25 – 5.13 2017 2,461,634 1.01 – 2.10 2018 1,098,858 0.62 – 1.35 Total 3,669,277 $0.62 – 596.25 Warrants: Year Shares Price 2014 6,455 243.75 – 609.38 2015 94,151 0.00 – 243.75 2016 252,333 1.00 2017 1,082,946 1.07 – 2.25 2018 2,190,758 0.84 – 1.3125 Total 3,626,643 $0.00 – 609.38 |
Note 5 - Notes Receivable
Note 5 - Notes Receivable | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 5– In July 2017, 8% December 31, 2017. $1,070,000 December 31, 2017. March 2018, $1,112,524, 8% two February 28, 2020. July 2018. not August September 27 28, 2018 October 2018, February March 2019 December 31, 2018, not In October 2017, $600,000 December 2017, $67,512 fifty 50% March 2018, $500,000 833,333 5% 25%. In September 2018, $60,000 $163,468, September 30, 2018. October 2018, $907,500 December 2018, $30,000 December 31, 2018, $1,165,013 $29,215. $751,330 2. January February 2019, $305,000. March 2019, $420,000 3 $1.1M. $1,890,013 |
Note 6 - Convertible Debt and D
Note 6 - Convertible Debt and Derivative Liability | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Convertible Debt and Derivative Liability [Text Block] | NOTE 6 Effective September 28, 2018 ( two $2,297,727 second $500,000 $2,865,909. 650,000 1,071,776 $1.155 second 1,336,805 sixth fifth The notes accrue interest at a rate of 8% twelve twelve $1.00 70% 20 may 2,678,328 Management has concluded the conversion feature is an embedded derivative that is required to be bifurcated and separately presented as a liability on the balance sheet. The embedded derivative’s value was determined using 70% 20 The Company accounted for the warrants by deriving the Black-Scholes value ascertained with a discount rate of 2.94% five 59% .5361 $574,631. December 2018, 70% 20 September 2018 $645,008. December 31, 2018 $272,745. 2018. The value of the embedded derivative was based upon level 3 1. |
Note 7 - Loss Per Share
Note 7 - Loss Per Share | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 7 The following table presents the shares used in the basic and diluted loss per common share computations: Year Ended 2018 2017 Numerator: Net loss available in basic and diluted $ (10,086,477 ) $ (6,003,017 ) Denominator: Weighted average common shares outstanding-basic 12,816,289 6,362,989 Effect of dilutive stock options warrants and preferred stock (1) - - Weighted average common shares outstanding-diluted 12,816,289 6,362,989 Loss per common share-basic and diluted $ (0.79 ) $ (0.94 ) ( 1 December 31, 2018 December 31, 2017 7,295,921 4,716,240, December 31, 2018 79,246 3,294,087. |
Note 8 - Income Taxes
Note 8 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 8– 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% Actual income tax benefit (expense) differs from statutory federal income tax benefit (expense) as follows for the years ended December 31: 2018 2017 Statutory federal income tax benefit $ 2,118,160 $ 2,633,841 State tax benefit, net of federal taxes 66,117 76,922 Foreign tax benefit 132,931 - Foreign operations tax rate differential (94,373 ) - State rate adjustment 15,355 (77,556 ) R&D tax credit 22,532 - Nondeductible/nontaxable items (118,905 ) (757,149 ) State NOL adjustment 746,479 - OID and derivatives (159,037 ) - NQSO adjustment - 537,884 New federal rate adjustment - (4,974,121 ) Other 47,868 (8,336 ) Valuation allowance decrease (increase) (2,777,127 ) 2,568,515 Total income tax benefit (expense) $ - $ - Deferred taxes consist of the following as of December 31: 2018 2017 Deferred tax assets: Noncurrent: Depreciation $ 4,488 $ 3,251 Inventory 6,991 6,950 Compensation accruals 60,905 50,436 Accruals and reserves 77,777 64,732 Charitable contribution carryover 3,972 4,068 Derivatives 57,276 - Related party investments 481,652 - Intangibles 2,020 - NQSO compensation 1,019,139 766,648 NOL and credits 9,655,388 7,479,505 Total deferred tax assets 11,369,608 8,375,590 Deferred tax liabilities: Noncurrent: Original issue discount (216,891 ) - Total deferred tax liabilities (216,891 ) - Net deferred tax assets 11,152,717 8,375,590 Less: valuation allowance (11,152,717 ) (8,375,590 ) Total $ - $ - The Company has determined, based upon its history, that it is probable that future taxable income may During December 2013, 382 may December 2013, not At December 31, 2017, $34,529,255 2018, 382 2022 $12,261,799 December 31, 2017. 2022 December 31, 2017, $8,129,778 $245,812, At December 31, 2018, $40,094,472 2019, 382 2022 $12,940,458 December 31, 2018. 2022 $421,782 December 31, 2018. December 31, 2018, $9,603,237, $1,416,758 $132,722, Tax years subsequent to 2014 not no The Company recognizes interest and penalties on unrecognized tax benefits as well as interest received from favorable tax settlements within income tax expense. At December 31, 2018 2017, no |
Note 9 - Rent Obligation
Note 9 - Rent Obligation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Leases of Lessee Disclosure [Text Block] | NOTE 9– Precision’s corporate offices are located at 2915 900, 55121. November 22, 2017, second January 28, 2013. three February 1, 2018 January 31, 2021. 5,773 2,945 2,828 Skyline Medical Europe’s offices are located at 9 1380 April 24, 2018 June 15, 2018. 2,000 300 1,250 June 14, 2027. 3,000 Rent expense was $69,013 $66,122 2018 2017, The Company’s rent obligation for the next five 2019 $ 80,320 2020 82,320 2021 43,320 2022 40,320 2023 40,320 Thereafter 161,280 |
Note 10 - Related Party Transac
Note 10 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 10 The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company may One of the Company’s directors, Richard L. Gabriel, is the Chief Operating Officer and serves as a director of GLG Pharma (“GLG”). Another Company director, Tim Krochuk, is on the supervisory board for GLG. The Company and GLG have a partnership agreement with Helomics for the purpose of bringing together their proprietary technologies to build out personalized medicine platform for the diagnosis and treatment of women’s cancer. There has been no Richard L. Gabriel is also contracted as the Chief Operating Officer for TumorGenesis the 100% $12,000 six March 31, 2019. On November 30, 2018, $370,000 221,292 $0.836 January 8, 2019, $950,000 $1,320,000 second 742,188 $0.704. sixth fifth January 8, 2019, 78,125 $50,000, $0.64 February 6, 2019, $300,000 $1,620,000 third 138,889 $1.188 February 1, 2019 first second third 1 one 1/2% 2 78,128 January 8, 2019, 1,108,596 February 6, 2019) may not 2,818,350 19.9% January 8, 2019). second third one 1/2% |
Note 11 - Retirement Savings Pl
Note 11 - Retirement Savings Plans | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 11 The Company has a pre-tax salary reduction/profit-sharing plan under the provisions of Section 401 2017, 2018, 100 4.0 $51,647 $29,952 2018 2017, no 2018 2017. |
Note 12 - Correction of Immater
Note 12 - Correction of Immaterial Misstatement to Prior Period Financial Statements | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | NOTE 12 During fiscal 2018, 2016 2017, 2017 $2,150,097 December 31, 2017. Also during fiscal 2018, 2017. $406,522 December 31, 2017. Lastly during fiscal 2018, 2017. $767,000 December 31, 2017. Based on an analysis of Accounting Standards Codification (“ASC”) 250 250” 99 99” 108 108” not may Accordingly, the Company restated its presentation of general and administrative, sales and marketing, and operating expenses as well as retained earnings and additional paid-in capital in the consolidated financial statements for the year ended December 31, 2018 December 31, 2017. 2017 December 31, 2017, $ 2,150,097 $ 406,522 December 31, 2017. 4 8 December 31, 2017. |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 13 Registered Offering of Common Stock and Warrants On February 27, 2019, 1,385,000 692,500 one 0.5 $1.00 fifth The Units were sold at a price of $0.90 $1.25 $1.08 The closing of the Offering occurred on March 1, 2019. Pursuant to the Placement Agency Agreement, the Company agreed to pay the Placement Agent a cash fee equal to 8% $30,000, $5,000. Also pursuant to the Placement Agency Agreement, the Company, in connection with the offering, entered into Unit Purchase Option agreements, dated as of March 1, 2019 ( 69,250 5% 125% $1.125 February 27, 2024. On March 12, 2019, one 71,046 $44,475. 20 70%. Dr. Carl Schwartz, the Company’s CEO made an additional loan to the Company and made a private investment in the Company’s common stock, which in total, generated an additional $1,300,000, 10 The Company entered into a forbearance agreement with L2 15% $503,000 December 31, 2018. On March 26, 2019, 1,478,750 739,375 one 0.5 $1.00 fifth The Units were sold at a price of $0.80 $1.18 $1.05 The closing of the Offering occurred on March 29, 2019. Pursuant to the Placement Agency Agreement, the Company agreed to pay the Placement Agent a cash fee equal to 8% $30,000, $5,000. Also pursuant to the Placement Agency Agreement, the Company, in connection with the offering, entered into Unit Purchase Option agreements, dated as of March 29, 2019 ( 73,938 5% 125% $1.00 March 29, 2024. The securities in the Offerings were offered and sold pursuant to the Company’s “shelf” registration statement (File No. 333 213766 October 4, 2016. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Nature of Operations and Continuance of Operations 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 December 31, 2018, 14,091,748 $.01 April 2009, 510 The Company acquired 25% first 2018, April 2018 June 2018, 4. 149,000 first The accompanying 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 $63,107,945. not 2018, $441,000 no may The Company had cash and cash equivalents of $162,152 December 31, 2018 one not 3, $2.1 2019. may $1.7 $6.4 Since inception to December 31, 2018, $36,490,000 $7,870,000 January 2017 $3,937,500; November 2017 $1,300,000; January 2018 $2,755,000. September 2018 $1,815,000, November 2018 $370,000. December 31, 2018, $1,300,000. The Company has no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Developments Accounting Policies and Estimates The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In May 2014, No. 2014 09, Revenue from Contracts with Customers (Topic 606 January 1, 2018 not December 31, 2017. January 1, 2018 606, not 605, Revenue Recognition not December 31, 2017, not January 1, 2018, no 3 In January 2016, No. 2016 01, Financial Instruments-Overall (Subtopic 825 10 2016 01” not not January 1, 2018. December 31, 2018, no In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. 2016 02 January 1, 2019, no In August 2016, No. 2016 15, Statement of Cash Flows (Topic 230 December 15, 2017, January 1, 2018. December 31, 2018, no |
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block] | Valuation of Intangible Assets The Company reviews identifiable intangible assets for impairment in accordance with ASC 360 may not may not not |
Advertising Costs, Policy [Policy Text Block] | Advertising Advertising costs are expensed as incurred. Advertising expenses were $43,548 2018 $37,060 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 costs were approximately $526,000 $289,000 2018 2017, |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition 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 |
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 Certification 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, which in 2018 1 |
Receivables, Policy [Policy Text Block] | Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management’s assessment of the current status of individual accounts. Changes to the valuation allowance have not |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the net realizable value, with cost determined on a first first December 31, December 31, Finished goods $ 58,701 $ 62,932 Raw materials 127,003 141,028 Work-In-Process 55,362 61,085 Total $ 241,066 $ 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. Depreciation is shown in the financial statements under fixed assets, net on the balance sheet, and amortization is shown under intangibles, net on the balance sheet. 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: December 31, December 31, Computers and office equipment $ 204,903 $ 183,528 Leasehold Improvements 140,114 25,635 Manufacturing Tooling 108,955 108,955 Demo Equipment 85,246 43,368 Total 539,218 361,486 Less: Accumulated Depreciation 358,765 273,770 Total Fixed Assets, Net $ 180,453 $ 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 $84,995 2018 $58,872 2017. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets The components of intangible assets all of which are finite-lived were as follows: 12/31/2018 12/31/2017 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Patents & Trademarks $ 318,304 $ (182,559 ) $ 135,745 $ 264,032 $ (168,676 ) $ 95,356 Licensing Fees 877,500 (48,750 ) 828,750 - - - Total $ 1,195,804 $ (231,309 ) $ 964,495 $ 264,032 $ (168,676 ) $ 95,356 The following table outlines the estimated future amortization expense related to intangible assets held as of December 31, 2018 Year ending Expense 2019 72,383 2020 72,383 2021 72,383 2022 72,383 2023 72,383 Thereafter 602,580 Total 964,495 Intangible assets consist of trademarks, patent costs and licensing fees. Amortization expense was $62,633 2018 $12,689 2017. |
Income Tax, Policy [Policy Text Block] | Income Taxes On December 22, 2017, 2017 34% 21%. no 100% The Company accounts for income taxes in accordance with ASC 740 Income Taxes 740” 740, 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 |
Offering Costs [Policy Text Block] | Offering Costs Costs incurred which are direct and incremental to an offering of the Company’s securities are deferred and charged against the proceeds of the offering, unless such costs are deemed to be insignificant in which case they are expensed as incurred. |
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 no no |
Standard Product Warranty, Policy [Policy Text Block] | Product Warranty Costs In 2018 2017, $10,682 $6,209, |
Segment Reporting, Policy [Policy Text Block] | Segments The Company operates in two December 31, 2018 2017 2018 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 Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, December 31, Finished goods $ 58,701 $ 62,932 Raw materials 127,003 141,028 Work-In-Process 55,362 61,085 Total $ 241,066 $ 265,045 |
Property Plant and Equipment Useful Life [Table Text Block] | Years Computers and office equipment 3 - 7 Leasehold improvements 5 Manufacturing Tooling 3 - 7 Demo Equipment 3 |
Property, Plant and Equipment [Table Text Block] | December 31, December 31, Computers and office equipment $ 204,903 $ 183,528 Leasehold Improvements 140,114 25,635 Manufacturing Tooling 108,955 108,955 Demo Equipment 85,246 43,368 Total 539,218 361,486 Less: Accumulated Depreciation 358,765 273,770 Total Fixed Assets, Net $ 180,453 $ 87,716 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | 12/31/2018 12/31/2017 Gross Carrying Accumulated Net Carrying Gross Carrying Accumulated Net Carrying Patents & Trademarks $ 318,304 $ (182,559 ) $ 135,745 $ 264,032 $ (168,676 ) $ 95,356 Licensing Fees 877,500 (48,750 ) 828,750 - - - Total $ 1,195,804 $ (231,309 ) $ 964,495 $ 264,032 $ (168,676 ) $ 95,356 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending Expense 2019 72,383 2020 72,383 2021 72,383 2022 72,383 2023 72,383 Thereafter 602,580 Total 964,495 |
Note 2 - Equity Method Invest_2
Note 2 - Equity Method Investment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | December 31, 2018 Current assets $ 419,266 Non-current assets $ 2,046,347 Total assets $ 2,465,613 Current liabilities $ 12,247,174 Total liabilities $ 12,247,174 For the Year-ended Ended December 31, 2018 Revenue $ 523,546 Gross margin $ 214,426 Net loss on operations $ (5,056,725 ) Net loss $ (9,452,835 ) Net Loss to investee $ (7,159,255 ) 1 |
Note 4 - Stockholders’ _2
Note 4 - Stockholders’ Equity (Deficit), Stock Options and Warrants (Tables) | 12 Months Ended |
Dec. 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 1,098,858 1.01 2,336,154 1.07 Expired (194,564 ) 2.00 (10,706 ) 199.55 Exercised - - (650,062 ) 1.00 Outstanding at December 31, 2018 3,669,277 $ 1.70 3,626,643 $ 4.17 |
Schedule of Share-based Compensation Shares Authorized Under Stock Option and Warrant Plans by Exercise Price Range [Table Text Block] | Range of Exercise Prices Shares Weighted Options: $0.619 201,908 10.00 $0.82 60,000 9.91 $0.91 10,000 9.30 $0.965 3,000 9.38 $0.97 191,753 9.02 $1.01 149,110 9.12 $1.06 23,585 9.76 $1.10 86,958 9.46 $1.13 195,931 9.55 $1.15 21,740 9.59 $1.16 66,451 9.59 $1.18 30,000 9.61 $1.20 41,668 9.59 $1.21 30,000 9.61 $1.35 111,112 9.20 $1.454 17,200 8.75 $1.47 2,305,790 8.48 $2.10 14,286 8.25 $2.25 293 7.65 $2.42 20,640 7.64 $2.80 57,145 8.01 $3.75 4,000 7.50 $4.125 3,636 7.75 $4.1975 7,147 7.72 $4.25 3,529 7.25 $5.125 3,902 7.69 $65.75 190 6.81 $73.50 1,157 7.01 $77.50 2,323 6.50 $80.25 187 6.75 $86.25 232 6.25 $131.25 81 3.69 $148.125 928 4.21 $150.00 1,760 3.63 $162.50 123 6.01 $206.25 121 5.75 $248.4375 121 4.54 $262.50 130 4.54 $281.25 529 4.04 $318.75 3 4.35 $346.875 72 5.25 $431.25 306 5.19 $506.25 188 5.00 $596.25 42 4.75 Total 3,669,277 Warrants: $0.836 221,292 4.92 $1.00 1,063,935 3.76 $1.07 697,946 3.85 $1.155 1,071,776 4.75 $1.3125 86,086 4.75 $2.25 385,000 3.06 $123.75 94,084 1.67 $243.75 2,529 0.59 $309.375 2,850 0.61 $309.50 222 0.85 $506.25 59 0.12 $609.375 862 0.09 Total 3,626,643 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Year Shares Price 2011 173 281.25 2012 1,841 131.25 – 150.00 2013 1,553 148.13 – 596.25 2014 836 162.50 – 431.25 2015 4,088 65.75 – 86.25 2016 100,294 2.25 – 5.13 2017 2,461,634 1.01 – 2.10 2018 1,098,858 0.62 – 1.35 Total 3,669,277 $0.62 – 596.25 Year Shares Price 2014 6,455 243.75 – 609.38 2015 94,151 0.00 – 243.75 2016 252,333 1.00 2017 1,082,946 1.07 – 2.25 2018 2,190,758 0.84 – 1.3125 Total 3,626,643 $0.00 – 609.38 |
Note 7 - Loss Per Share (Tables
Note 7 - Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended 2018 2017 Numerator: Net loss available in basic and diluted $ (10,086,477 ) $ (6,003,017 ) Denominator: Weighted average common shares outstanding-basic 12,816,289 6,362,989 Effect of dilutive stock options warrants and preferred stock (1) - - Weighted average common shares outstanding-diluted 12,816,289 6,362,989 Loss per common share-basic and diluted $ (0.79 ) $ (0.94 ) |
Note 8 - Income Taxes (Tables)
Note 8 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2018 2017 Statutory federal income tax benefit $ 2,118,160 $ 2,633,841 State tax benefit, net of federal taxes 66,117 76,922 Foreign tax benefit 132,931 - Foreign operations tax rate differential (94,373 ) - State rate adjustment 15,355 (77,556 ) R&D tax credit 22,532 - Nondeductible/nontaxable items (118,905 ) (757,149 ) State NOL adjustment 746,479 - OID and derivatives (159,037 ) - NQSO adjustment - 537,884 New federal rate adjustment - (4,974,121 ) Other 47,868 (8,336 ) Valuation allowance decrease (increase) (2,777,127 ) 2,568,515 Total income tax benefit (expense) $ - $ - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2018 2017 Deferred tax assets: Noncurrent: Depreciation $ 4,488 $ 3,251 Inventory 6,991 6,950 Compensation accruals 60,905 50,436 Accruals and reserves 77,777 64,732 Charitable contribution carryover 3,972 4,068 Derivatives 57,276 - Related party investments 481,652 - Intangibles 2,020 - NQSO compensation 1,019,139 766,648 NOL and credits 9,655,388 7,479,505 Total deferred tax assets 11,369,608 8,375,590 Deferred tax liabilities: Noncurrent: Original issue discount (216,891 ) - Total deferred tax liabilities (216,891 ) - Net deferred tax assets 11,152,717 8,375,590 Less: valuation allowance (11,152,717 ) (8,375,590 ) Total $ - $ - |
Note 9 - Rent Obligation (Table
Note 9 - Rent Obligation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Rent Expense [Table Text Block] | 2019 $ 80,320 2020 82,320 2021 43,320 2022 40,320 2023 40,320 Thereafter 161,280 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) | Mar. 12, 2019USD ($) | Feb. 06, 2019USD ($) | Jan. 08, 2019USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($)$ / sharesshares | Nov. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Jan. 31, 2018USD ($) | Nov. 30, 2017USD ($) | Jan. 31, 2017USD ($) | Mar. 31, 2019USD ($) | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Mar. 22, 2019$ / shares | Jul. 11, 2018$ / shares | Jul. 10, 2018$ / shares | Mar. 31, 2018 | Feb. 21, 2018$ / shares | Dec. 28, 2017$ / shares | Apr. 19, 2017$ / shares |
Common Stock, Shares, Outstanding, Ending Balance | shares | 14,091,748 | 14,091,748 | 6,943,283 | 14,091,748 | |||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (63,107,945) | $ (63,107,945) | $ (53,021,469) | $ (63,107,945) | |||||||||||||||||
Net Cash Provided by (Used in) Operating Activities, Per Month | 441,000 | ||||||||||||||||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 162,152 | 162,152 | 766,189 | 162,152 | |||||||||||||||||
Stockholders' Equity, Period Increase (Decrease), Total | 36,490,000 | ||||||||||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | 7,870,000 | ||||||||||||||||||||
Advertising Expense | 43,548 | 37,060 | |||||||||||||||||||
Research and Development Expense, Total | $ 526,000 | 289,000 | |||||||||||||||||||
Maintenance Plan, Service Requirement, Period Subsequent to One Year Anniversary of Invoice | 1 year | ||||||||||||||||||||
Depreciation, Total | $ 84,995 | 58,872 | |||||||||||||||||||
Amortization of Intangible Assets, Total | 62,633 | 12,689 | |||||||||||||||||||
Unrecognized Tax Benefits, Ending Balance | 0 | 0 | 0 | ||||||||||||||||||
Cash, Uninsured Amount | 0 | 0 | $ 0 | ||||||||||||||||||
Product Warranty Expense | $ 10,682 | $ 6,209 | |||||||||||||||||||
Number of Operating Segments | 2 | ||||||||||||||||||||
Maintenance [Member] | |||||||||||||||||||||
Revenue, Performance Obligation, Timing | 1 year | ||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||
Standard Payment Term for Customers | 30 days | ||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||
Standard Payment Term for Customers | 60 days | ||||||||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||
Proceeds from Related Party Debt | $ 370,000 | $ 370,000 | |||||||||||||||||||
Convertible Promissory Note [Member] | |||||||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | $ 1,815,000 | ||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | ||||||||||||||||||||
Subsequent Event [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||
Proceeds from Related Party Debt | $ 1,300,000 | $ 300,000 | $ 950,000 | $ 1,300,000 | |||||||||||||||||
Shelf Registration [Member] | Subsequent Event [Member] | |||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 1,100,000 | 2,100,000 | |||||||||||||||||||
Additional Gross Proceeds From Sale of Equity, Available to Raise | $ 1,700,000 | 1,700,000 | |||||||||||||||||||
Stock Issuance Plan, Additional Available Amount | $ 6,400,000 | ||||||||||||||||||||
IPO [Member] | |||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 3,937,500 | ||||||||||||||||||||
Private Placement [Member] | Series C Convertible Preferred Stock [Member] | |||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 1,300,000 | ||||||||||||||||||||
The 2018 Public Offering [Member] | |||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2,755,000 | ||||||||||||||||||||
Helomics Holding Corp. [Member] | |||||||||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 25.00% |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Schedule of Inventory (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Finished goods | $ 58,701 | $ 62,932 |
Raw materials | 127,003 | 141,028 |
Work-In-Process | 55,362 | 61,085 |
Total | $ 241,066 | $ 265,045 |
Note 1 - Summary of Significa_5
Note 1 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment, Useful Life (Details) | 12 Months Ended |
Dec. 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 Significa_6
Note 1 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Property, Plant, and Equipment Gross | $ 539,218 | $ 361,486 |
Less: Accumulated Depreciation | 358,765 | 273,770 |
Total Fixed Assets, Net | 180,453 | 87,716 |
Office Equipment [Member] | ||
Property, Plant, and Equipment Gross | 204,903 | 183,528 |
Leasehold Improvements [Member] | ||
Property, Plant, and Equipment Gross | 140,114 | 25,635 |
Manufacturing Tooling [Member] | ||
Property, Plant, and Equipment Gross | 108,955 | 108,955 |
Demo Equipment [Member] | ||
Property, Plant, and Equipment Gross | $ 85,246 | $ 43,368 |
Note 1 - Summary of Significa_7
Note 1 - Summary of Significant Accounting Policies - Components of Intangible Assets (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Gross Carrying Costs | $ 1,195,804 | $ 264,032 |
Accumulated Amortization | (231,309) | (168,676) |
Net Carrying Amount | 964,495 | 95,356 |
Patents and Trademarks [Member] | ||
Gross Carrying Costs | 318,304 | 264,032 |
Accumulated Amortization | (182,559) | (168,676) |
Net Carrying Amount | 135,745 | 95,356 |
Licensing Agreements [Member] | ||
Gross Carrying Costs | 877,500 | |
Accumulated Amortization | (48,750) | |
Net Carrying Amount | $ 828,750 |
Note 1 - Summary of Significa_8
Note 1 - Summary of Significant Accounting Policies - Estimated Future Amortization Expense (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
2019 | $ 72,383 | |
2020 | 72,383 | |
2021 | 72,383 | |
2022 | 72,383 | |
2023 | 72,383 | |
Thereafter | 602,580 | |
Total | $ 964,495 | $ 95,356 |
Note 2 - Equity Method Invest_3
Note 2 - Equity Method Investment (Details Textual) - Helomics Holding Corp. [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Feb. 27, 2018 | |
Equity Method Investment, Ownership Percentage | 75.00% | 80.00% |
Equity Method Investment, Summarized Financial Information, Revenue | $ 523,546 | |
Financing Receivable, Net, Total | 413,683 | |
Financing Receivable, Gross | 1,165,013 | |
Fair Value Adjustment of Notes Receivable | (751,330) | |
Equity Method Investments | 0 | |
Contract Research Organization and D-CHIP Artificial Intelligence Products [Member] | ||
Equity Method Investment, Summarized Financial Information, Revenue | $ 31,000 |
Note 2 - Equity Method Invest_4
Note 2 - Equity Method Investment - Summary of Equity Method Investments (Details) | 12 Months Ended | |
Dec. 31, 2018USD ($) | ||
Gross margin | $ (5,056,725) | |
Net loss | (9,452,835) | |
Helomics Holding Corp. [Member] | ||
Current assets | 419,266 | |
Non-current assets | 2,046,347 | |
Total assets | 2,465,613 | |
Current liabilities | 12,247,174 | |
Total liabilities | 12,247,174 | |
Revenue | 523,546 | |
Gross margin | 214,426 | |
Net Loss to investee | $ (7,159,255) | [1] |
[1] | The loss to investee was calculated at 80% for the initial period of ownership, January 11, 2018 - February 27, 2018, and then at 75% for the remainder of the twelve-month period at the current equity investment percentage owned by the Company. |
Note 3 - Revenue Recognition (D
Note 3 - Revenue Recognition (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Jan. 07, 2019 | 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 | $ 232,602 | $ 232,602 | $ 137,499 |
Contract with Customer, Liability, Current | $ 23,065 | $ 6,663 | |
Maintenance [Member] | |||
Revenue, Performance Obligation, Timing | 1 year | ||
Minimum [Member] | |||
Standard Payment Term for Customers | 30 days | ||
Maximum [Member] | |||
Standard Payment Term for Customers | 60 days |
Note 4 - Stockholders’ _3
Note 4 - Stockholders’ Equity (Deficit), Stock Options and Warrants (Details Textual) | Oct. 26, 2018USD ($)$ / sharesshares | Jul. 11, 2018$ / sharesshares | Jul. 10, 2018$ / sharesshares | Mar. 12, 2018$ / sharesshares | Feb. 21, 2018USD ($)$ / sharesshares | Jan. 15, 2018$ / sharesshares | Jan. 11, 2018USD ($)shares | Nov. 30, 2017USD ($)$ / sharesshares | Apr. 19, 2017$ / sharesshares | Jan. 19, 2017USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Jan. 31, 2018USD ($)$ / sharesshares | Mar. 31, 2018USD ($)shares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Mar. 22, 2019$ / sharesshares | Jan. 02, 2018shares | Dec. 28, 2017$ / sharesshares | Jan. 29, 2017shares | Oct. 27, 2016shares |
Shares Issued, Price Per Share | $ / shares | $ 1.17 | $ 1.18 | |||||||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock | $ | $ 1,300,001 | ||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||
Stock Issued During Period, Shares, Issued for Services | 250,000 | ||||||||||||||||||||
Stock Issued During Period, Share, Issued in Escrow | 750,000 | ||||||||||||||||||||
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 | ||||||||||||||
Reverse Shares Issued for Escrow Pursuant to Termination of Agreement, Shares | 400,000 | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 2,946,488 | 2,946,488 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares | $ 1.79 | $ 1.79 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 8 years 313 days | ||||||||||||||||||||
Class of Warrant or Right Number of Warrants Vested and Exercisable | 2,247,489 | 2,247,489 | |||||||||||||||||||
Allocated Share-based Compensation Expense, Total | $ | $ 1,124,928 | $ 2,298,680 | |||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | $ 741,922 | $ 741,922 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Plan Modification, Incremental Compensation Cost | $ | $ 1,900,000 | ||||||||||||||||||||
Employee Stock Option [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 1.01 | $ 1.45 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,098,858 | 2,612,070 | |||||||||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 240 days | ||||||||||||||||||||
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 | ||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 609.38 | $ 609.38 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 3.07% | 2.40% | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 66.00% | 66.00% | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 10 years | 10 years | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 1.0044 | $ 1.5489 | |||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0 | $ 0 | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.33% | 1.92% | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 59.00% | 59.00% | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | 5 years | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares | $ 0.3816 | $ 0.6541 | |||||||||||||||||||
Equity Incentive Plan [Member] | Maximum [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||||||||
Equity Incentive Plan [Member] | Minimum [Member] | |||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 3 years | ||||||||||||||||||||
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 | ||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | ||||||||||||||||||||
Common Stock, Shares Authorized | 100,000,000 | ||||||||||||||||||||
Helomics Holding Corp. [Member] | |||||||||||||||||||||
Notes Payable, Total | $ | $ 7,600,000 | ||||||||||||||||||||
Helomics Holding Corp. [Member] | |||||||||||||||||||||
Convertible Preferred Stock Held, Conversion Feature, Percent | 20.00% | ||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares Held in Escrow | 860,000 | ||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares Held in Escrow, Period | 1 year 180 days | ||||||||||||||||||||
Percentage of Holders of Acquiree's Promissory Note Agreeing to Merger | 75.00% | ||||||||||||||||||||
Business Acquisition, Warrant Exchange Ratio | 0.6 | ||||||||||||||||||||
Helomics Holding Corp. [Member] | Common Stock [Member] | |||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 7,500,000 | 1,100,000 | |||||||||||||||||||
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 | ||||||||||||||||||||
Share Exchange Agreement, Convertible Notes, Percent of Stock | 5.00% | ||||||||||||||||||||
Share Exchange Agreement, Potential Interest | 25.00% | ||||||||||||||||||||
Share Exchange Agreement, Number of Shares Held in Escrow | 1,100,000 | ||||||||||||||||||||
Share Exchange Agreement, Contingent Revenue, Minimum | $ | $ 8,000,000 | ||||||||||||||||||||
Convertible Preferred Stock Held, Conversion Feature, Percent | 20.00% | ||||||||||||||||||||
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 | ||||||||||||||||||||
Series C Convertible Preferred Stock [Member] | |||||||||||||||||||||
Stock Redeemed or Called During Period, Shares | 142,466 | ||||||||||||||||||||
Payments for Repurchase of Convertible Preferred Stock | $ | $ 189,285 | ||||||||||||||||||||
Helomics Warrants Held by Investors [Member] | Helomics Holding Corp. [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 18,700,000 | ||||||||||||||||||||
Helomics Warrants Held by Investors [Member] | Helomics Holding Corp. [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 5,000,000 | ||||||||||||||||||||
Precision Warrants [Member] | Helomics Holding Corp. [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1 | ||||||||||||||||||||
Business Acquisition, Warrant Issued or Issuable, Exercise Price | $ / shares | $ 1 | ||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable from Exchange of Warrants | 23,700,000 | ||||||||||||||||||||
Class of Warrant or Right, Additional Number of Securities Called by Warrants or Rights | 14,200,000 | ||||||||||||||||||||
Helomics Warrants Held by Other Parties [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.01 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 597,000 | ||||||||||||||||||||
Helomics Warrants Held by Other Parties [Member] | Helomics Holding Corp. [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.01 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 995,000 | ||||||||||||||||||||
The 2017 Public Offering [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,750,000 | ||||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 2.25 | ||||||||||||||||||||
Share Per Each Unit | 1 | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 3,937,500 | ||||||||||||||||||||
The 2017 Public Offering [Member] | Series D Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Issued per Unit | 0.2 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 2.25 | ||||||||||||||||||||
Over-Allotment Option [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 215,247 | 175,000 | |||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 0.9497 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.01 | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 358,312 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 35,000 | ||||||||||||||||||||
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% | ||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock | $ | $ 1,300,000 | ||||||||||||||||||||
Private Placement [Member] | Series C Convertible Preferred Stock [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 1,213,819 | ||||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 1.071 | ||||||||||||||||||||
Private Placement [Member] | The 2017 Private Placement Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.26 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 606,910 | ||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years 182 days | ||||||||||||||||||||
Class of Warrant or Right, Vesting Period | 180 days | ||||||||||||||||||||
The 2018 Public Offering [Member] | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 2,900,000 | ||||||||||||||||||||
Share Per Each Unit | 1 | ||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 2,755,000 | ||||||||||||||||||||
Share Price | $ / shares | $ 0.95 | ||||||||||||||||||||
The 2018 Public Offering [Member] | Series E Warrants [Member] | |||||||||||||||||||||
Class of Warrant or Right, Issued per Unit | 0.3 | ||||||||||||||||||||
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 |
Note 4 - Stockholders' Equity (
Note 4 - Stockholders' Equity (Deficit), Stock Options and Warrants - Summary of Transactions for Stock Options and Warrants (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Number of Shares Outstanding (in shares) | 3,669,277 | |
Warrant [Member] | ||
Number of Shares Outstanding (in shares) | 1,951,257 | 871,101 |
Average Exercise Price Outstanding (in dollars per share) | $ 23.74 | $ 52.22 |
Number of Shares Issued (in shares) | 2,336,154 | 1,082,946 |
Average Exercise Price Issued (in dollars per share) | $ 1.07 | $ 1.49 |
Number of Shares Expired (in shares) | (10,706) | (2,790) |
Average Exercise Price Expired (in dollars per share) | $ 199.55 | $ 281.46 |
Number of Shares Exercised (in shares) | (650,062) | |
Average Exercise Price Exercised (in dollars per share) | $ 1 | |
Number of Shares Outstanding (in shares) | 3,626,643 | 1,951,257 |
Average Exercise Price Outstanding (in dollars per share) | $ 4.17 | $ 23.74 |
Employee Stock Option [Member] | ||
Number of Shares Outstanding (in shares) | 2,764,983 | 165,643 |
Average Exercise Price Outstanding (in dollars per share) | $ 2 | $ 11.22 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,098,858 | 2,612,070 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 1.01 | $ 1.45 |
Number of Shares Expired (in shares) | (194,564) | (12,730) |
Average Exercise Price Expired (in dollars per share) | $ 2 | $ 10.39 |
Number of Shares Exercised (in shares) | ||
Average Exercise Price Exercised (in dollars per share) | ||
Number of Shares Outstanding (in shares) | 3,669,277 | 2,764,983 |
Average Exercise Price Outstanding (in dollars per share) | $ 1.70 | $ 2 |
Note 4 - Stockholders' Equity_2
Note 4 - Stockholders' Equity (Deficit), Stock Options and Warrants - Summary of Status of Options and Warrants Outstanding (Details) | 12 Months Ended |
Dec. 31, 2018shares | |
Shares, options (in shares) | 3,669,277 |
Shares, warrants (in shares) | 3,626,643 |
Warrant One [Member] | |
Shares, warrants (in shares) | 221,292 |
Weighted average remaining life, warrants (Year) | 4 years 335 days |
Warrant Two [Member] | |
Shares, warrants (in shares) | 1,063,935 |
Weighted average remaining life, warrants (Year) | 3 years 277 days |
Warrant Three [Member] | |
Shares, warrants (in shares) | 697,946 |
Weighted average remaining life, warrants (Year) | 3 years 310 days |
Warrant Four [Member] | |
Shares, warrants (in shares) | 1,071,776 |
Weighted average remaining life, warrants (Year) | 4 years 273 days |
Warrant Five [Member] | |
Shares, warrants (in shares) | 86,086 |
Weighted average remaining life, warrants (Year) | 4 years 273 days |
Warrant Six [Member] | |
Shares, warrants (in shares) | 385,000 |
Weighted average remaining life, warrants (Year) | 3 years 21 days |
Warrant Seven [Member] | |
Shares, warrants (in shares) | 94,084 |
Weighted average remaining life, warrants (Year) | 1 year 244 days |
Warrant Eight [Member] | |
Shares, warrants (in shares) | 2,529 |
Weighted average remaining life, warrants (Year) | 215 days |
Warrant Nine [Member] | |
Shares, warrants (in shares) | 2,850 |
Weighted average remaining life, warrants (Year) | 222 days |
Warrant Ten [Member] | |
Shares, warrants (in shares) | 222 |
Weighted average remaining life, warrants (Year) | 310 days |
Warrant Eleven [Member] | |
Shares, warrants (in shares) | 59 |
Weighted average remaining life, warrants (Year) | 43 days |
Warrant Twelve [Member] | |
Shares, warrants (in shares) | 862 |
Weighted average remaining life, warrants (Year) | 32 days |
Warrant Thirteen [Member] | |
Shares, warrants (in shares) | 3,626,643 |
Weighted average remaining life, warrants (Year) | |
Stock Options One [Member] | |
Shares, options (in shares) | 201,908 |
Weighted average remaining life, options (Year) | 10 years |
Stock Options Two [Member] | |
Shares, options (in shares) | 60,000 |
Weighted average remaining life, options (Year) | 9 years 332 days |
Stock Options Three [Member] | |
Shares, options (in shares) | 10,000 |
Weighted average remaining life, options (Year) | 9 years 109 days |
Stock Options Four [Member] | |
Shares, options (in shares) | 3,000 |
Weighted average remaining life, options (Year) | 9 years 138 days |
Stock Options Five [Member] | |
Shares, options (in shares) | 191,753 |
Weighted average remaining life, options (Year) | 9 years 7 days |
Stock Options Six [Member] | |
Shares, options (in shares) | 149,110 |
Weighted average remaining life, options (Year) | 9 years 43 days |
Stock Options Seven [Member] | |
Shares, options (in shares) | 23,585 |
Weighted average remaining life, options (Year) | 9 years 277 days |
Stock Options Eight [Member] | |
Shares, options (in shares) | 86,958 |
Weighted average remaining life, options (Year) | 9 years 167 days |
Stock Options Nine [Member] | |
Shares, options (in shares) | 195,931 |
Weighted average remaining life, options (Year) | 9 years 200 days |
Stock Options Ten [Member] | |
Shares, options (in shares) | 21,740 |
Weighted average remaining life, options (Year) | 9 years 215 days |
Stock Options Eleven [Member] | |
Shares, options (in shares) | 66,451 |
Weighted average remaining life, options (Year) | 9 years 215 days |
Stock Options Twelve [Member] | |
Shares, options (in shares) | 30,000 |
Weighted average remaining life, options (Year) | 9 years 222 days |
Stock Options Thirteen [Member] | |
Shares, options (in shares) | 41,668 |
Weighted average remaining life, options (Year) | 9 years 215 days |
Stock Options Fourteen [Member] | |
Shares, options (in shares) | 30,000 |
Weighted average remaining life, options (Year) | 9 years 222 days |
Stock Options Fifteen [Member] | |
Shares, options (in shares) | 111,112 |
Weighted average remaining life, options (Year) | 9 years 73 days |
Stock Options Sixteen [Member] | |
Shares, options (in shares) | 17,200 |
Weighted average remaining life, options (Year) | 8 years 273 days |
Stock Options Seventeen [Member] | |
Shares, options (in shares) | 2,305,790 |
Weighted average remaining life, options (Year) | 8 years 175 days |
Stock Options Eighteen [Member] | |
Shares, options (in shares) | 14,286 |
Weighted average remaining life, options (Year) | 8 years 91 days |
Stock Options Nineteen [Member] | |
Shares, options (in shares) | 293 |
Weighted average remaining life, options (Year) | 7 years 237 days |
Stock Options Twenty [Member] | |
Shares, options (in shares) | 20,640 |
Weighted average remaining life, options (Year) | 7 years 233 days |
Stock Options Twenty One [Member] | |
Shares, options (in shares) | 57,145 |
Weighted average remaining life, options (Year) | 8 years 3 days |
Stock Options Twenty Two [Member] | |
Shares, options (in shares) | 4,000 |
Weighted average remaining life, options (Year) | 7 years 182 days |
Stock Options Twenty Three [Member] | |
Shares, options (in shares) | 3,636 |
Weighted average remaining life, options (Year) | 7 years 273 days |
Stock Options Twenty Four [Member] | |
Shares, options (in shares) | 7,147 |
Weighted average remaining life, options (Year) | 7 years 262 days |
Stock Options Twenty Five [Member] | |
Shares, options (in shares) | 3,529 |
Weighted average remaining life, options (Year) | 7 years 91 days |
Stock Options Twenty Six [Member] | |
Shares, options (in shares) | 3,902 |
Weighted average remaining life, options (Year) | 7 years 251 days |
Stock Options Twenty Seven [Member] | |
Shares, options (in shares) | 190 |
Weighted average remaining life, options (Year) | 6 years 295 days |
Stock Options Twenty Eight [Member] | |
Shares, options (in shares) | 1,157 |
Weighted average remaining life, options (Year) | 7 years 3 days |
Stock Options Twenty Nine [Member] | |
Shares, options (in shares) | 2,323 |
Weighted average remaining life, options (Year) | 6 years 182 days |
Stock Options Thirty [Member] | |
Shares, options (in shares) | 187 |
Weighted average remaining life, options (Year) | 6 years 273 days |
Stock Options Thirty-One [Member] | |
Shares, options (in shares) | 232 |
Weighted average remaining life, options (Year) | 6 years 91 days |
Stock Options Thirty-Two [Member] | |
Shares, options (in shares) | 81 |
Weighted average remaining life, options (Year) | 3 years 251 days |
Stock Options Thirty-Three [Member] | |
Shares, options (in shares) | 928 |
Weighted average remaining life, options (Year) | 4 years 76 days |
Stock Options Thirty-Four [Member] | |
Shares, options (in shares) | 1,760 |
Weighted average remaining life, options (Year) | 3 years 229 days |
Stock Options Thirty-Five [Member] | |
Shares, options (in shares) | 123 |
Weighted average remaining life, options (Year) | 6 years 3 days |
Stock Options Thirty-Six [Member] | |
Shares, options (in shares) | 121 |
Weighted average remaining life, options (Year) | 5 years 273 days |
Stock Options Thirty-Seven [Member] | |
Shares, options (in shares) | 121 |
Weighted average remaining life, options (Year) | 4 years 197 days |
Stock Options Thirty-Eight [Member] | |
Shares, options (in shares) | 130 |
Weighted average remaining life, options (Year) | 4 years 197 days |
Stock Options Thirty-Nine [Member] | |
Shares, options (in shares) | 529 |
Weighted average remaining life, options (Year) | 4 years 14 days |
Stock Options Forty [Member] | |
Shares, options (in shares) | 3 |
Weighted average remaining life, options (Year) | 4 years 127 days |
Stock Options Forty-One [Member] | |
Shares, options (in shares) | 72 |
Weighted average remaining life, options (Year) | 5 years 91 days |
Stock Options Forty-Two [Member] | |
Shares, options (in shares) | 306 |
Weighted average remaining life, options (Year) | 5 years 69 days |
Stock Options Forty-Three [Member] | |
Shares, options (in shares) | 188 |
Weighted average remaining life, options (Year) | 5 years |
Stock Options Forty-Four [Member] | |
Shares, options (in shares) | 42 |
Weighted average remaining life, options (Year) | 4 years 273 days |
Stock Options Forty-Five [Member] | |
Shares, options (in shares) | 3,669,277 |
Weighted average remaining life, options (Year) |
Note 4 - Stockholders' Equity_3
Note 4 - Stockholders' Equity (Deficit) , Stock Options and Warrants - Schedule of Listing of Stock Options and Warrants (Details) | Dec. 31, 2018$ / sharesshares |
Shares, options (in shares) | shares | 3,669,277 |
Shares, warrants (in shares) | shares | 3,626,643 |
Minimum [Member] | |
Price, options (in dollars per share) | $ 0.62 |
Warrant exercises, exercise price per share (in dollars per share) | 0 |
Maximum [Member] | |
Price, options (in dollars per share) | 596.25 |
Warrant exercises, exercise price per share (in dollars per share) | $ 609.38 |
Warrants 2014 [Member] | |
Shares, warrants (in shares) | shares | 6,455 |
Warrants 2014 [Member] | Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 243.75 |
Warrants 2014 [Member] | Maximum [Member] | |
Warrant exercises, 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] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 0 |
Warrants 2015 [Member] | Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 243.75 |
Warrants 2016 [Member] | |
Shares, warrants (in shares) | shares | 252,333 |
Warrant exercises, exercise price per share (in dollars per share) | $ 1 |
Warrants 2017 [Member] | |
Shares, warrants (in shares) | shares | 1,082,946 |
Warrants 2017 [Member] | Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 1.07 |
Warrants 2017 [Member] | Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 2.25 |
Warrants 2018 [Member] | |
Shares, warrants (in shares) | shares | 2,190,758 |
Warrants 2018 [Member] | Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 0.84 |
Warrants 2018 [Member] | Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 1.3125 |
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) | $ 148.13 |
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 | 100,294 |
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 | 2,461,634 |
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 | 1,098,858 |
Stock Options 2018 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 0.62 |
Stock Options 2018 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 1.35 |
Note 5 - Notes Receivable (Deta
Note 5 - Notes Receivable (Details Textual) - USD ($) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 5 Months Ended | 12 Months Ended | |||||||
Mar. 31, 2019 | Dec. 31, 2018 | Oct. 31, 2018 | Sep. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Oct. 31, 2017 | Feb. 28, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2018 | Jul. 31, 2017 | |
Subsequent Event [Member] | Shelf Registration [Member] | ||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 1,100,000 | $ 2,100,000 | ||||||||||
Advance to Helomics [Member] | ||||||||||||
Payments to Acquire Notes Receivable | $ 600,000 | |||||||||||
Advances to De Lage Landen [Member] | ||||||||||||
Payments to Acquire Notes Receivable | $ 60,000 | $ 67,512 | ||||||||||
Lease to Purchase Equipment, Down Payment, Percentage | 50.00% | |||||||||||
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 | |||||||||||
Proceeds from Collection of Notes Receivable | $ 0 | |||||||||||
Helomics Holding Corp. [Member] | ||||||||||||
Financing Receivable, Net, Total | $ 163,468 | |||||||||||
Payments to Acquire Notes Receivable | $ 30,000 | $ 907,500 | ||||||||||
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% | |||||||||||
Financing Receivable, Gross | 1,165,013 | 1,165,013 | $ 1,165,013 | |||||||||
Interest Receivable | $ 29,215 | $ 29,215 | 29,215 | |||||||||
Fair Value Adjustment of Notes Receivable | $ (751,330) | |||||||||||
Helomics Holding Corp. [Member] | Subsequent Event [Member] | ||||||||||||
Payments to Acquire Notes Receivable | $ 305,000 | |||||||||||
Financing Receivable, Gross | 1,890,013 | $ 1,890,013 | ||||||||||
Helomics Holding Corp. [Member] | Subsequent Event [Member] | Shelf Registration [Member] | ||||||||||||
Payments to Acquire Notes Receivable | $ 420,000 |
Note 6 - Convertible Debt and_2
Note 6 - Convertible Debt and Derivative Liability (Details Textual) | Mar. 31, 2019USD ($)shares | Oct. 26, 2018 | Oct. 03, 2018$ / sharesshares | Dec. 31, 2018USD ($)yr$ / shares | Sep. 30, 2018USD ($) | Sep. 28, 2018USD ($) |
Stock Issued During Period, Shares, Inducement for Bridge Loan | shares | 650,000 | |||||
Maximum [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 609.38 | |||||
Warrants in Connection with Convertible Promissory Note [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,071,776 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.155 | |||||
Class of Warrant or Right, Vesting Period | 180 days | |||||
Warrants and Rights Outstanding, Term | 5 years | |||||
Class of Warrant or Right, Fair Value per Warrant | $ / shares | $ 0.5361 | |||||
Warrants and Rights Outstanding | $ 574,631 | |||||
Derivative Liability, Total | $ 272,745 | $ 645,008 | ||||
Warrants in Connection with Convertible Promissory Note [Member] | Measurement Input, Discount Rate [Member] | ||||||
Warrants and Rights Outstanding, Measurement Input | 0.0294 | |||||
Warrants in Connection with Convertible Promissory Note [Member] | Measurement Input, Expected Term [Member] | ||||||
Warrants and Rights Outstanding, Measurement Input | yr | 5 | |||||
Warrants in Connection with Convertible Promissory Note [Member] | Measurement Input, Price Volatility [Member] | ||||||
Warrants and Rights Outstanding, Measurement Input | 0.59 | |||||
Subsequent Event [Member] | Warrants in Connection with Convertible Promissory Note [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,336,805 | |||||
Securities Purchase Agreements [Member] | Convertible Promissory Note [Member] | ||||||
Debt Instrument, Face Amount | $ 2,297,727 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||
Interest Guaranteed Period | 1 year | |||||
Debt Instrument, Convertible, Conversion Price, Percentage of Lowers Volume-weighted Average Price of Common Stock | 70.00% | |||||
Debt Instrument, Convertible, Threshold Trading Days | 20 | |||||
Conversion Shares, Sum of Number of Conversion Shares Plus Inducement Shares | shares | 2,678,328 | |||||
Securities Purchase Agreements [Member] | Convertible Promissory Note [Member] | Maximum [Member] | ||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 1 | |||||
Securities Purchase Agreements [Member] | Convertible Promissory Note [Member] | Subsequent Event [Member] | ||||||
Debt Instrument, Face Amount | $ 2,865,909 | |||||
Proceeds from Notes Payable, Total | $ 500,000 |
Note 7 - Loss Per Share (Detail
Note 7 - Loss Per Share (Details Textual) - shares | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Weighted Average Number of Shares, Contingently Issuable | 3,294,087 | |
Options and Warrants [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 7,295,921 | 4,716,240 |
Preferred Stock 1 [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 79,246 |
Note 7 - Loss Per Share - Share
Note 7 - Loss Per Share - Shares Used in Basic and Diluted Loss Per Common Share Computations (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | ||
Net loss | $ (10,086,477) | $ (6,003,017) | |
Weighted average common shares outstanding-basic (in shares) | 12,816,289 | 6,362,989 | |
Effect of dilutive stock options warrants and preferred stock (1) (in shares) | [1] | ||
Weighted average common shares outstanding-diluted (in shares) | 12,816,289 | 6,362,989 | |
Loss per common share - basic and diluted (in dollars per share) | $ (0.79) | $ (0.94) | |
[1] | The number of shares underlying options and warrants outstanding as of December 31, 2018 and December 31, 2017 are 7,295,921 and 4,716,240, respectively. The number of shares underlying the preferred stock as of December 31, 2018 is 79,246 for Series B Convertible. The number of shares underlying the convertible debt is 3,294,087. The effect of the shares that would be issued upon exercise of such options, warrants, convertible debt and preferred stock has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive. |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 34.00% |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 0 | |
Valuation Allowance Percentage | 100.00% | 100.00% |
Federal Income Tax Expense (Benefit), Continuing Operations, Total | $ 0 | |
Open Tax Year | 2014 2015 2016 2017 2018 | |
Unrecognized Tax Benefits, Ending Balance | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | $ 0 |
State and Local Income Tax Expense (Benefit), Continuing Operations, Total | 0 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | 40,094,472 | 34,529,255 |
Operating Loss Carryforwards, Valuation Allowance, Total | 9,603,237 | 8,129,778 |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | 12,940,458 | 12,261,799 |
Operating Loss Carryforwards, Valuation Allowance, Total | 1,416,758 | $ 245,812 |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | 421,782 | |
Operating Loss Carryforwards, Valuation Allowance, Total | $ 132,722 |
Note 8 - Income Taxes - Reconci
Note 8 - Income Taxes - Reconciliation of Income Tax Benefit (Expense) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Statutory federal income tax benefit | $ 2,118,160 | $ 2,633,841 |
State tax benefit, net of federal taxes | 66,117 | 76,922 |
Foreign tax benefit | 132,931 | |
Foreign operations tax rate differential | (94,373) | |
State rate adjustment | 15,355 | (77,556) |
R&D tax credit | 22,532 | |
Nondeductible/nontaxable items | (118,905) | (757,149) |
State NOL adjustment | 746,479 | |
OID and derivatives | (159,037) | |
NQSO adjustment | 537,884 | |
New federal rate adjustment | (4,974,121) | |
Other | 47,868 | (8,336) |
Valuation allowance decrease (increase) | (2,777,127) | 2,568,515 |
Total income tax benefit (expense) |
Note 8 - Income Taxes - Compone
Note 8 - Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax assets: | ||
Depreciation | $ 4,488 | $ 3,251 |
Inventory | 6,991 | 6,950 |
Compensation accruals | 60,905 | 50,436 |
Accruals and reserves | 77,777 | 64,732 |
Charitable contribution carryover | 3,972 | 4,068 |
Derivatives | 57,276 | |
Related party investments | 481,652 | |
Intangibles | 2,020 | |
NQSO compensation | 1,019,139 | 766,648 |
NOL and credits | 9,655,388 | 7,479,505 |
Total deferred tax assets | 11,369,608 | 8,375,590 |
Deferred tax liabilities: | ||
Original issue discount | (216,891) | |
Total deferred tax liabilities | (216,891) | |
Net deferred tax assets | 11,152,717 | 8,375,590 |
Less: valuation allowance | (11,152,717) | (8,375,590) |
Total |
Note 9 - Rent Obligation (Detai
Note 9 - Rent Obligation (Details Textual) | Jun. 15, 2018EUR (€)ft² | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Feb. 01, 2018ft² |
Operating Leases, Rent Expense, Total | $ | $ 69,013 | $ 66,122 | ||
Corporate Office, Minnesota [Member] | ||||
Lessee, Operating Lease, Term of Contract | 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 | |||
Skyline Medical Europe’s Offices Lease [Member] | ||||
Area of Real Estate Property | 2,000 | |||
Lessee, Operating Lease, Monthly Rent | € | € 3,000 | |||
Skyline Medical Europe’s Offices Lease [Member] | Office Space [Member] | ||||
Area of Real Estate Property | 1,250 | |||
Skyline Medical Europe’s Offices Lease [Member] | Storage Space [Member] | ||||
Area of Real Estate Property | 300 |
Note 9 - Rent Obligation - Rent
Note 9 - Rent Obligation - Rent Obligation (Details) | Dec. 31, 2018USD ($) |
2019 | $ 80,320 |
2020 | 82,320 |
2021 | 43,320 |
2022 | 40,320 |
2023 | 40,320 |
Thereafter | $ 161,280 |
Note 10 - Related Party Trans_2
Note 10 - Related Party Transactions (Details Textual) - USD ($) | Mar. 12, 2019 | Feb. 06, 2019 | Feb. 01, 2019 | Jan. 08, 2019 | Dec. 31, 2018 | Nov. 30, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jul. 11, 2018 | Jul. 10, 2018 |
Proceeds from Issuance of Common Stock | $ 2,959,509 | $ 3,814,938 | |||||||||
Shares Issued, Price Per Share | $ 1.17 | $ 1.18 | |||||||||
Schwartz Warrant First Tranche [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 221,292 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.836 | ||||||||||
Schwartz Warrant Second Tranche [Member] | Subsequent Event [Member] | |||||||||||
Class of Warrant or Right, Share Limit | 78,128 | ||||||||||
Schwartz Warrant Third Tranche [Member] | Subsequent Event [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 138,889 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.188 | ||||||||||
Class of Warrant or Right, Share Limit | 1,108,596 | ||||||||||
Schwartz Warrant [Member] | Subsequent Event [Member] | |||||||||||
Class of Warrant or Right, Additional Shares Increase, Percentage | 0.50% | ||||||||||
Class of Warrant or Right, Share Limit | 2,818,350 | ||||||||||
Class of Warrant or Right, Share Limit Percentage | 19.90% | ||||||||||
Director [Member] | |||||||||||
Related Party Transaction, Monthly Cash Payment | $ 12,000 | ||||||||||
Related Party Transaction, Contract Term | 180 days | ||||||||||
Chief Executive Officer [Member] | |||||||||||
Proceeds from Related Party Debt | $ 370,000 | $ 370,000 | |||||||||
Chief Executive Officer [Member] | Subsequent Event [Member] | |||||||||||
Proceeds from Related Party Debt | $ 1,300,000 | $ 300,000 | $ 950,000 | $ 1,300,000 | |||||||
Due to Related Parties, Total | $ 1,320,000 | ||||||||||
Stock Issued During Period, Shares, New Issues | 78,125 | ||||||||||
Proceeds from Issuance of Common Stock | $ 50,000 | ||||||||||
Shares Issued, Price Per Share | $ 0.64 | ||||||||||
Cash Payment In Lieu of Share Increase As Percentage of Principal Balance of Note | 0.50% | ||||||||||
Chief Executive Officer [Member] | Subsequent Event [Member] | Schwartz Note [Member] | |||||||||||
Debt Instrument, Face Amount | $ 1,620,000 | ||||||||||
Chief Executive Officer [Member] | Schwartz Warrant Second Tranche [Member] | Subsequent Event [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 742,188 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.704 | ||||||||||
TumorGenesis [Member] | |||||||||||
Ownership Percentage | 100.00% | 100.00% |
Note 11 - Retirement Savings _2
Note 11 - Retirement Savings Plans (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | 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 | $ 51,647 | $ 29,952 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 |
Note 12 - Correction of Immat_2
Note 12 - Correction of Immaterial Misstatement to Prior Period Financial Statements (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | |
General and Administrative Expense, Total | $ 4,626,997 | $ 4,050,307 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (53,021,469) | (63,107,945) | (53,021,469) |
Operating Expenses, Total | $ 7,861,379 | 6,053,523 | |
Overstatement of Investors Stock Compensation Expense and Additional Paid-in Capital [Member] | |||
Quantifying Misstatement in Current Year Financial Statements, Amount | 2,150,097 | ||
Overstatement of Investors Stock Compensation Expense and Additional Paid-in Capital [Member] | Restatement Adjustment [Member] | |||
General and Administrative Expense, Total | (2,150,097) | ||
Retained Earnings (Accumulated Deficit), Ending Balance | (2,150,097) | (2,150,097) | |
Understatement of Employee Stock Compensation Expenses and Additional Paid-in Capital [Member] | |||
Quantifying Misstatement in Current Year Financial Statements, Amount | 406,522 | ||
Understatement of Employee Stock Compensation Expenses and Additional Paid-in Capital [Member] | Restatement Adjustment [Member] | |||
Retained Earnings (Accumulated Deficit), Ending Balance | $ 406,522 | 406,522 | |
Operating Expenses, Total | 406,522 | ||
Understatement of Deferred Tax Assets [Member] | |||
Quantifying Misstatement in Current Year Financial Statements, Amount | $ 767,000 |
Note 13 - Subsequent Events (De
Note 13 - Subsequent Events (Details Textual) - USD ($) | Mar. 26, 2019 | Mar. 12, 2019 | Mar. 01, 2019 | Feb. 06, 2019 | Jan. 08, 2019 | Dec. 31, 2018 | Nov. 30, 2018 | Jan. 31, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | Jul. 11, 2018 | Jul. 10, 2018 |
Shares Issued, Price Per Share | $ 1.17 | $ 1.18 | ||||||||||
Debt Instrument, Penalty Expenses | $ 503,000 | |||||||||||
Chief Executive Officer [Member] | ||||||||||||
Proceeds from Related Party Debt | $ 370,000 | $ 370,000 | ||||||||||
The 2018 Public Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 2,900,000 | |||||||||||
Share Per Each Unit | 1 | |||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2,755,000 | |||||||||||
Subsequent Event [Member] | Chief Executive Officer [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 78,125 | |||||||||||
Shares Issued, Price Per Share | $ 0.64 | |||||||||||
Proceeds from Related Party Debt | $ 1,300,000 | $ 300,000 | $ 950,000 | $ 1,300,000 | ||||||||
Subsequent Event [Member] | Peak One [Member] | Bridge Loan [Member] | ||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 71,046 | |||||||||||
Debt Conversion, Original Debt, Amount | $ 44,475 | |||||||||||
Subsequent Event [Member] | Right to Purchase Units [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 69,250 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.125 | |||||||||||
Right to Purchase Units, Percentage | 5.00% | |||||||||||
Right to Purchase Units, Exercise Price Percentage | 125.00% | |||||||||||
Subsequent Event [Member] | The 2019 Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 1,385,000 | |||||||||||
Share Per Each Unit | 1 | |||||||||||
Shares Issued, Price Per Share | $ 0.90 | |||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 1,250,000 | |||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ 1,080,000 | |||||||||||
Underwriter Discount Percentage | 8.00% | |||||||||||
Placement Agent Offering Fees | $ 30,000 | |||||||||||
Placement Agent Blue Sky Fees | $ 5,000 | |||||||||||
Subsequent Event [Member] | The 2019 Offering [Member] | The 2019 Offering Warrants [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 692,500 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.5 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | |||||||||||
Subsequent Event [Member] | The 2018 Public Offering [Member] | The 2019 Offering Warrants [Member] | ||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||
Subsequent Event [Member] | Placement Agency Agreement [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 1,478,750 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 73,938 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | |||||||||||
Shares Issued, Price Per Share | $ 0.80 | |||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 1,180,000 | |||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | 1,050,000 | |||||||||||
Placement Agent Offering Fees | 30,000 | |||||||||||
Placement Agent Blue Sky Fees | $ 5,000 | |||||||||||
Right to Purchase Units, Percentage | 5.00% | |||||||||||
Right to Purchase Units, Exercise Price Percentage | 125.00% | |||||||||||
Unit Agreement Number of Shares of Common Stock Included in Each Unit | 1 | |||||||||||
Unit Agreement Number of Warrants Included in Each Unit | 0.5 | |||||||||||
Placement Fee, Percent of Gross Proceeds | 8.00% | |||||||||||
Subsequent Event [Member] | Placement Agency Agreement [Member] | Warrants Issued With Placement Agency Agreement [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 739,375 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 |