Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Mar. 27, 2020 | Jun. 30, 2019 | |
Document Information [Line Items] | |||
Entity Registrant Name | Predictive Oncology Inc. | ||
Entity Central Index Key | 0001446159 | ||
Trading Symbol | poai | ||
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 | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 5,847,718 | ||
Entity Public Float | $ 19,734,292 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2019 | ||
Document Fiscal Year Focus | 2019 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, $0.01 par value |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Current Assets: | ||
Cash and Cash Equivalents | $ 150,831 | $ 162,152 |
Accounts Receivable | 297,055 | 232,602 |
Notes Receivable (inclusive of $0 and $452,775 in advances to Helomics; net of $1,037,524 and $0 in allowances for credit losses) | 497,276 | |
Inventories | 190,156 | 241,066 |
Prepaid Expense and Other Assets | 160,222 | 318,431 |
Total Current Assets | 798,264 | 1,451,527 |
Notes Receivable | 1,112,524 | |
Fixed Assets, net | 1,507,799 | 180,453 |
Intangibles, net | 3,649,412 | 964,495 |
Lease Right-of-Use Assets | 729,745 | |
Goodwill | 15,690,290 | |
Total Assets | 22,375,510 | 3,708,999 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts Payable | 3,155,641 | 445,689 |
Notes Payable – Net of Discounts of $350,426 and $1,032,813 | 4,795,800 | 1,634,914 |
Accrued Expenses | 2,371,633 | 1,279,114 |
Derivative Liability | 50,989 | 272,745 |
Deferred Revenue | 40,384 | 23,065 |
Lease Liability – Net of Long-Term Portion | 459,481 | |
Total Current Liabilities | 10,873,928 | 3,655,527 |
Lease Liability | 270,264 | |
Total Liabilities | 11,144,192 | 3,655,527 |
Stockholders’ Equity: | ||
Common Stock, $.01 par value, 100,000,000 and 50,000,000 authorized, 4,056,652 and 1,409,175 outstanding | 40,567 | 14,092 |
Additional Paid-in Capital | 93,653,667 | 63,146,533 |
Accumulated Deficit | (82,498,711) | (63,107,945) |
Total Stockholders' Equity | 11,231,318 | 53,472 |
Total Liabilities and Stockholders' Equity | 22,375,510 | 3,708,999 |
Series B Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Convertible Preferred Stock | 792 | 792 |
Series D Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Convertible Preferred Stock | 35,000 | |
Series E Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Convertible Preferred Stock | $ 3 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Notes receivable | $ 497,276 | |
Reserve for bad debt | 1,037,524 | 0 |
Discount of note payable | $ 350,426 | $ 1,032,814 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 50,000,000 |
Common stock, shares outstanding (in shares) | 4,056,652 | 1,409,175 |
Series B Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 2,300,000 | 2,300,000 |
Preferred stock, shares outstanding (in shares) | 79,246 | 79,246 |
Series D Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 3,500,000 | 3,500,000 |
Preferred stock, shares outstanding (in shares) | 3,500,000 | 0 |
Series E Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares authorized (in shares) | 350 | 350 |
Preferred stock, shares outstanding (in shares) | 257.258 | 0 |
Helomics Holding [Member] | ||
Notes receivable | $ 0 | $ 452,775 |
Consolidated Statements of Net
Consolidated Statements of Net Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue | $ 1,411,565 | $ 1,411,655 |
Cost of goods sold | 531,810 | 415,764 |
Gross margin | 879,755 | 995,891 |
General and administrative expense | 9,781,218 | 4,626,997 |
Operations expense | 2,960,131 | 1,861,121 |
Sales and marketing expense | 1,912,899 | 2,369,152 |
Total operating loss | (13,774,493) | (7,861,379) |
Gain on revaluation of cash advances to Helomics | 1,222,244 | |
Other income | 287,056 | 510,254 |
Other expense | (3,979,946) | (441,772) |
Impairment | (8,100,000) | 0 |
Loss on intangible impairment | (770,250) | |
Loss on equity method investment | (439,637) | (2,293,580) |
Gain on revaluation of equity method investment | 6,164,260 | |
Net loss | (19,390,766) | (10,086,477) |
Deemed dividend on Series E Convertible Preferred Stock | 289,935 | |
Net loss attributable to common shareholders | $ (19,680,701) | $ (10,086,477) |
Loss per common share - basic and diluted (in dollars per share) | $ (6.86) | $ (7.87) |
Weighted average shares used in computation - basic and diluted (in shares) | 2,870,132 | 1,281,629 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Chief Executive Officer [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Helomics Holding Corp. [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Private Placement [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Over-Allotment Option [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Equity Line Purchase Agreement [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Series E Warrants [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Re-priced Warrants [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Warrants Issued With Promissory Note [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Warrants Issued to CEO [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Bridge Loan Warrants [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Warrants Issued to Helomics' Investors [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Note Payable Warrants [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Warrants Held by Noteholders [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Bridge Notes [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Bridge Loan Agreement [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Promissory Note [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Consulting Agreement One [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Contract with TumorGenesis [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Investor Relations Consultant [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member]Converison of Bridge Loan to Common Stock [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Chief Executive Officer [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Private Placement [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Equity Line Purchase Agreement [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Warrants Issued With Promissory Note [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Warrants Issued to CEO [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Warrants Issued to Helomics' Investors [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Warrants Held by Noteholders [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Bridge Notes [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Bridge Loan Agreement [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Promissory Note [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member]Investor Relations Consultant [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Chief Executive Officer [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Private Placement [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Equity Line Purchase Agreement [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Warrants Issued With Promissory Note [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Warrants Issued to CEO [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Warrants Issued to Helomics' Investors [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Warrants Held by Noteholders [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Bridge Notes [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Bridge Loan Agreement [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Promissory Note [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member]Investor Relations Consultant [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Helomics Holding Corp. [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Over-Allotment Option [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Series E Warrants [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Re-priced Warrants [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Bridge Loan Warrants [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Note Payable Warrants [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Consulting Agreement One [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Contract with TumorGenesis [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member]Converison of Bridge Loan to Common Stock [Member] | Preferred Stock [Member]Series C Convertible Preferred Stock [Member] | Common Stock [Member]Chief Executive Officer [Member] | Common Stock [Member]Helomics Holding Corp. [Member] | Common Stock [Member]Private Placement [Member] | Common Stock [Member]Over-Allotment Option [Member] | Common Stock [Member]Equity Line Purchase Agreement [Member] | Common Stock [Member]Series E Warrants [Member] | Common Stock [Member]Re-priced Warrants [Member] | Common Stock [Member]Warrants Issued With Promissory Note [Member] | Common Stock [Member]Warrants Issued to CEO [Member] | Common Stock [Member]Bridge Loan Warrants [Member] | Common Stock [Member]Warrants Issued to Helomics' Investors [Member] | Common Stock [Member]Note Payable Warrants [Member] | Common Stock [Member]Warrants Held by Noteholders [Member] | Common Stock [Member]Bridge Notes [Member] | Common Stock [Member]Bridge Loan Agreement [Member] | Common Stock [Member]Promissory Note [Member] | Common Stock [Member]Consulting Agreement One [Member] | Common Stock [Member]Contract with TumorGenesis [Member] | Common Stock [Member]Investor Relations Consultant [Member] | Common Stock [Member]Converison of Bridge Loan to Common Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member]Chief Executive Officer [Member] | Additional Paid-in Capital [Member]Helomics Holding Corp. [Member] | Additional Paid-in Capital [Member]Private Placement [Member] | Additional Paid-in Capital [Member]Over-Allotment Option [Member] | Additional Paid-in Capital [Member]Equity Line Purchase Agreement [Member] | Additional Paid-in Capital [Member]Series E Warrants [Member] | Additional Paid-in Capital [Member]Re-priced Warrants [Member] | Additional Paid-in Capital [Member]Warrants Issued With Promissory Note [Member] | Additional Paid-in Capital [Member]Warrants Issued to CEO [Member] | Additional Paid-in Capital [Member]Bridge Loan Warrants [Member] | Additional Paid-in Capital [Member]Warrants Issued to Helomics' Investors [Member] | Additional Paid-in Capital [Member]Note Payable Warrants [Member] | Additional Paid-in Capital [Member]Warrants Held by Noteholders [Member] | Additional Paid-in Capital [Member]Bridge Notes [Member] | Additional Paid-in Capital [Member]Bridge Loan Agreement [Member] | Additional Paid-in Capital [Member]Promissory Note [Member] | Additional Paid-in Capital [Member]Consulting Agreement One [Member] | Additional Paid-in Capital [Member]Contract with TumorGenesis [Member] | Additional Paid-in Capital [Member]Investor Relations Consultant [Member] | Additional Paid-in Capital [Member]Converison of Bridge Loan to Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member]Chief Executive Officer [Member] | Retained Earnings [Member]Helomics Holding Corp. [Member] | Retained Earnings [Member]Private Placement [Member] | Retained Earnings [Member]Over-Allotment Option [Member] | Retained Earnings [Member]Equity Line Purchase Agreement [Member] | Retained Earnings [Member]Series E Warrants [Member] | Retained Earnings [Member]Re-priced Warrants [Member] | Retained Earnings [Member]Warrants Issued With Promissory Note [Member] | Retained Earnings [Member]Warrants Issued to CEO [Member] | Retained Earnings [Member]Bridge Loan Warrants [Member] | Retained Earnings [Member]Warrants Issued to Helomics' Investors [Member] | Retained Earnings [Member]Note Payable Warrants [Member] | Retained Earnings [Member]Warrants Held by Noteholders [Member] | Retained Earnings [Member]Bridge Notes [Member] | Retained Earnings [Member]Bridge Loan Agreement [Member] | Retained Earnings [Member]Promissory Note [Member] | Retained Earnings [Member]Consulting Agreement One [Member] | Retained Earnings [Member]Contract with TumorGenesis [Member] | Retained Earnings [Member]Investor Relations Consultant [Member] | Retained Earnings [Member]Converison of Bridge Loan to Common Stock [Member] | Retained Earnings [Member] | Chief Executive Officer [Member] | Helomics Holding Corp. [Member] | Private Placement [Member] | Over-Allotment Option [Member] | Equity Line Purchase Agreement [Member] | Series E Warrants [Member] | Re-priced Warrants [Member] | Warrants Issued With Promissory Note [Member] | Warrants Issued to CEO [Member] | Bridge Loan Warrants [Member] | Warrants Issued to Helomics' Investors [Member] | Note Payable Warrants [Member] | Warrants Held by Noteholders [Member] | Bridge Notes [Member] | Bridge Loan Agreement [Member] | Promissory Note [Member] | Consulting Agreement One [Member] | Contract with TumorGenesis [Member] | Investor Relations Consultant [Member] | Converison of Bridge Loan to Common Stock [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 79,246 | 647,819 | 694,328 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 792 | $ 6,479 | $ 6,943 | $ 55,699,169 | $ (53,021,469) | $ 2,691,914 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to private placement agreement (in shares) | (647,819) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to private placement agreement | $ (6,479) | (6,479) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to private placement agreement (in shares) | 65,000 | 58,975 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to private placement agreement | $ 650 | $ 590 | $ 205,955 | 5,889 | $ 206,605 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in shares) | 21,525 | 290,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued | $ 215 | $ 2,900 | $ 204,206 | 2,752,187 | $ 1 | $ 204,422 | 2,755,087 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Subsidiary pursuant to Helomics 20% acquisition (in shares) | 110,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Subsidiary pursuant to Helomics 20% acquisition | $ 1,100 | $ 1,041,150 | $ 1,042,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercises (in shares) | 14,539 | 50,467 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercises | $ 145 | $ 505 | $ 145,251 | $ 504,160 | $ 145,396 | $ 504,665 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to a consultant contract @ 11.80 per share (in shares) | 25,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to a consultant contract @ 11.80 per share | $ 250 | $ 294,750 | $ 295,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in escrow pursuant to a contract with TumorGenesis @ 11.70 per share (in shares) | 75,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in escrow pursuant to a contract with TumorGenesis @ 11.70 per share | $ 750 | $ 876,750 | $ 877,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | $ 183,187 | $ 68,757 | $ 183,187 | $ 68,757 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to employee in lieu of bonus (in shares) | 4,341 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to employee in lieu of bonus | $ 44 | 40,194 | 40,238 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 1,124,928 | 1,124,928 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (10,086,477) | (10,086,477) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 79,246 | 1,409,175 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 792 | $ 14,092 | 63,146,533 | (63,107,945) | 53,472 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to private placement agreement | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to private placement agreement (in shares) | 103,415 | 30,000 | 8,857 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred conversion to common shares pursuant to private placement agreement | $ 1,034 | $ 300 | $ 89 | $ 377,539 | $ 127,200 | $ 130,129 | $ 378,573 | $ 127,500 | $ 130,218 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued (in shares) | 7,813 | 919,929 | 122,356 | 122,356 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued | $ 78 | $ 9,200 | $ 1,224 | $ 49,922 | $ 5,263,818 | $ 317,972 | $ 50,000 | $ 5,273,018 | $ 319,196 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Subsidiary pursuant to Helomics 20% acquisition (in shares) | 3,500,000 | 400,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investment in Subsidiary pursuant to Helomics 20% acquisition | $ 35,000 | $ 4,000 | 5,573,250 | 5,612,250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercises (in shares) | 59,700 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrant exercises | $ 597 | 5,373 | 5,970 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to a consultant contract @ 11.80 per share (in shares) | 10,356 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to a consultant contract @ 11.80 per share | $ 103 | $ 34,820 | $ 34,923 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Warrants issued | $ 180,640 | $ 356,471 | $ 6,261,590 | $ 177,343 | $ 180,640 | $ 356,471 | $ 6,261,590 | $ 177,343 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 2,250,422 | 2,250,422 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (19,390,766) | (19,390,766) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in forbearance agreement (in shares) | 16,667 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in forbearance agreement | $ 166 | 158,183 | 158,349 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued to extinguish debt as part of Helomics purchase consideration (in shares) | 863,732 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of shares to extinguish debt (iii) | $ 8,637 | 6,454,672 | 6,463,309 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Series E preferred shares (in shares) | 258 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Series E preferred shares | $ 3 | 2,338,837 | 2,338,840 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to equity line (in shares) | 104,652 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to equity line | $ 1,047 | 448,953 | 450,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 79,246 | 3,500,000 | 258 | 4,056,652 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 792 | $ 35,000 | $ 3 | $ 40,567 | $ 93,653,667 | $ (82,498,711) | $ 11,231,318 |
Consolidated Statements of St_2
Consolidated Statements of Stockholders' Equity (Parentheticals) | Dec. 31, 2018$ / shares |
Consulting Agreement One [Member] | |
Price of shares issued (in dollars per share) | $ 11.80 |
Contract with TumorGenesis [Member] | |
Price of shares issued (in dollars per share) | 11.70 |
Over-Allotment Option [Member] | |
Price of shares issued (in dollars per share) | 9.497 |
Series E Warrants [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 10 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flow from operating activities: | ||
Net loss | $ (19,390,766) | $ (10,086,477) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Recognition of credit loss on notes receivable | 1,037,524 | |
Loss on equity method investment | 439,637 | 2,293,580 |
Gain on revaluation of equity method investment | (6,164,260) | |
Depreciation and amortization | 704,883 | 147,628 |
Vesting expense | 2,250,422 | 1,124,928 |
Equity instruments issued for management, consulting, and other | 484,923 | 335,238 |
Amortization of debt discount | 2,023,315 | 385,111 |
Gain on valuation of equity-linked instruments | (221,756) | (372,263) |
Gain on revaluation of cash advances to Helomics | (1,222,244) | |
Debt extinguishment costs | 581,073 | |
Loss on goodwill and intangible impairment | 8,870,250 | |
Loss on fixed asset disposal | 1,096 | |
Changes in assets and liabilities: | ||
Accounts receivable | 143,316 | (95,103) |
Inventories | 91,114 | 23,979 |
Prepaid expense and other assets | (29,747) | 139,895 |
Accounts payable | 365,772 | 305,227 |
Accrued expenses | 1,285,678 | 493,899 |
Deferred revenue | 17,319 | 16,402 |
Net cash used in operating activities | (8,732,451) | (5,287,956) |
Cash flow from investing activities: | ||
Redemption of certificates of deposit | 244,971 | |
Advances on notes receivable | (975,000) | (1,123,619) |
Cash received from notes receivable | 154,418 | |
Cash received from Helomics acquisition | 248,102 | |
Purchase of fixed assets | (5,888) | (177,732) |
Acquisition of intangibles | (20,719) | (54,271) |
Net cash used in investing activities | (599,087) | (1,110,651) |
Cash flow from financing activities: | ||
Proceeds from debt issuance | 2,690,000 | 2,185,000 |
Repayment of debt | (1,154,513) | |
Payment penalties | (202,294) | |
Proceeds from issuance of stock pursuant to equity line | 319,196 | |
Proceeds from exercise of warrants into common stock | 5,970 | 650,061 |
Proceeds from issuance of Series E convertible preferred stock | 2,338,840 | |
Issuance of common stock | 5,323,018 | 2,959,509 |
Net cash provided by financing activities | 9,320,217 | 5,794,570 |
Net decrease in cash | (11,321) | (604,037) |
Cash at beginning of period | 162,152 | 766,189 |
Cash at end of period | 150,831 | 162,152 |
Non-cash transactions | ||
Bridge loan conversion into common stock | 378,573 | |
Forbearance settlement bridge loan | 503,009 | |
Warrants Issued | 47,078 | |
Warrants issued pursuant to debt issuance | 180,640 | |
Consideration given for acquisition of Helomics | 26,711,790 | |
Debt modification costs | 162,750 | |
Conversion of preferred stock to common stock | 6,479 | |
Equity method investment – Helomics | 1,542,250 | |
Licensing fee for TumorGenesis | 877,500 | |
Interest paid on debt | $ 146,064 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Nature of Operations and Continuance of Operations Predictive Oncology Inc., (the “Company” or “Predictive”) 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. June 10, 2019, June 13, 2019. October 28, 2019, one ten October 29, 2019. The Company is a healthcare company that provides personalized medicine solution and medical devices in two 1 2 In addition, the Company’s wholly-owned subsidiary, TumorGenesis Inc. (“TumorGenesis”), is developing the next generation, patient-derived tumor models for precision cancer therapy and drug development. TumorGenesis Inc., formed during the first 2018, During the first 2018, 25% April 4, 2019, 75% The Company has incurred recurring losses from operations and has an accumulated deficit of $82,498,711. not 2019, no may $150,831 December 31, 2019 $6,213,507 December 31, 2019, six may October 2019, $15,000,000 three no three 2019, 122,356 $319,196 2020, $6,159,906, 13 not one not The Company has no Recently Adopted Accounting Standards In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. 2016 02 January 1, 2019, $353,007 $79,252 2016 02 not The Company leases facilities under long-term operating leases that are non-cancelable and expire on various dates. At the lease commencement date, lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term, which includes all fixed obligations arising from the lease contract. If an interest rate is not 10 Accounting Policies and Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and during the reporting period. Actual results could materially differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand. The company has no December 31, 2018 December 31, 2019. 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 allowance based on management’s assessment of the current status of individual accounts. During 2019, $1,037,524 6 Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first first December 31, December 31, Finished goods $ 91,410 $ 58,701 Raw materials 69,821 127,003 Work-In-Process 28,925 55,362 Total $ 190,156 $ 241,066 Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation of fixed assets is computed using the straight-line method over the estimated useful lives of the respective assets. Accumulated depreciation is included in fixed assets, net on the accompanying consolidated balance sheets. Estimated useful life by asset classification is as follows: Years Computers and office equipment 3 - 7 Leasehold improvements (1) 5 Manufacturing and laboratory equipment 3 - 7 Demonstration equipment 3 Laboratory equipment 4 ( 1 Leasehold improvements are depreciated over the shorter of the useful life or the remaining lease term. The Company’s fixed assets consist of the following: December 31, December 31, Computers and office equipment $ 508,143 $ 204,903 Leasehold improvements 188,014 140,114 Manufacturing tooling 1,510,165 108,955 Demo equipment 73,051 85,246 Total 2,279,373 539,218 Less: Accumulated depreciation 771,574 358,765 Total fixed assets, net $ 1,507,799 $ 180,453 Upon retirement or sale or fixed assets, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations expense. Maintenance and repairs are expensed as incurred. Depreciation expense was $414,331 $84,995 2019 2018, Intangible Assets Finite-lived intangible assets consist of patents and trademarks, licensing fees, developed technology, and customer relationships, and are amortized over their estimated useful life. The tradename is an indefinite-lived intangible asset and is not $290,552 $62,633 2019 2018, 360 Property, Plant and Equipment may not may not not 350— Intangibles—Goodwill and Other not As of December 31, 2019, $3,649,412 $964,495 December 31, 2018. The components of intangible assets were as follows: December 31, 2019 December 31, 2018 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Patents & Trademarks $ 339,023 $ (195,286 ) $ 143,737 $ 318,304 $ (182,559 ) $ 135,745 Licensing Fees - - - 877,500 (48,750 ) 828,750 Developed Technology 2,882,000 (108,075 ) 2,773,925 - - - Customer Relationships 445,000 (111,250 ) 333,750 - - - Tradename 398,000 - 398,000 - - - Total $ 4,064,023 $ (414,611 ) $ 3,649,412 $ 1,195,804 $ (231,309 ) $ 964,495 The following table outlines the estimated future amortization expense related to intangible assets held as of December 31, 2019: Year ending December 31, Expense 2020 $ 305,785 2021 305,785 2022 194,535 2023 157,452 2024 157,452 Thereafter 2,130,403 Total $ 3,251,412 Impairment of Long-Lived Assets The Company reviews long-lived assets, including property and equipment and intangible assets with estimable useful lives, for impairment whenever events or changes in circumstances indicate that the carrying amount of such an asset may not The recoverability of an asset to be held and used is determined by comparing the carrying amount to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeded its estimated undiscounted future cash flows, the Company recorded an impairment charge in the amount by which the carrying amount of the asset exceeds its fair value, which is determined by either a quoted market price, if any, or a value determined by utilizing discounted cash flow techniques. During 2019, $58,500 may not $770,250 No 2018. Goodwill In accordance with ASC 350 Intangibles – Goodwill and Other not In the Helomics acquisition, the Company recorded goodwill of $23,790,290. not not first may In testing goodwill for impairment as of December 31, 2019, December 31, 2019. 2017 04 Simplifying the Test for Goodwill Impairment December 31, 2019 $8,100,000 no twelve December 31, 2018. Goodwill balance at December 31, 2018 $ - Acquired 23,790,290 Impairment (8,100,000 ) Goodwill balance at December 31, 2019 $ 15,690,290 When evaluating the fair value of Helomics reporting unit the Company used a discounted cash flow model. Key assumptions used to determine the estimated fair value included: (a) expected cash flow for the 20 3.0% 18.3% 7% The majority of the inputs used in the discounted cash flow model are unobservable and thus are considered to be Level 3 The Company will continue to monitor its reporting units to determine whether events and circumstances warrant further interim impairment testing. Goodwill is not Fair Value Measurements As outlined in ASC – 820, Fair Value Measurement 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 consist of cash and cash equivalents, was determined based on Level 1 3 Revenue Recognition 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. Sales taxes are excluded from revenue and expenses. See Note 4 Income Taxes The Company accounts for income taxes in accordance with ASC 740 Income Taxes 740” 740, There is no 100% The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not no Under Internal Revenue Code Section 382, may not not 382 may 382 2020. Tax years subsequent to 2015 Advertising Advertising costs are expensed as incurred. Advertising expenses were $21,166 2019 $43,548 2018. Research and Development Research and development costs are charged to operations as incurred. Research and development costs were $422,964 $526,257 2019 2018, 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. During 2019, $324,459 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 Product Warranty Costs In 2019 2018, $15,717 $10,682, Other Expense Other expense consisted primarily of interest expense, payment penalties, amortization of original issue discounts, and loss on debt extinguishment associated to the Company’s notes payable. Segments The Company has determined its operating segments in accordance with ASC 280 Segment Reporting During the fourth 2019, one not 2018, three 4 December 31, 2019 2 not Year Ended December 31, 2019 Domestic International Helomics Corporate Total Revenue $ 1,275,048 $ 88,070 $ 48,447 - $ 1,411,565 Depreciation and Amortization (43,728 ) (4,692 ) (556,538 ) (99,925 ) (704,883 ) Impairment expense - - (8,100,000 ) (770,250 ) (8,870,250 ) Loss on equity method investment - - - (439,637 ) (439,637 ) Segment Loss $ (2,783,531 ) $ (351,759 ) $ (12,354,108 ) $ (3,901,368 ) $ (19,390,766 ) December 31, 2019 Domestic International Helomics Corporate Total Assets $ 670,841 $ 298,952 $ 21,275,306 $ 130,411 $ 22,375,510 In 2018, December 31, 2018 Domestic International Helomics Corporate Total Assets $ 932,367 $ 41,377 - $ 2,735,255 $ 3,708,999 Risks and Uncertainties The Company is subject to risks common to companies in the medical device and biopharmaceutical industries, including, but not |
Note 2 - Helomics Acquisition
Note 2 - Helomics Acquisition | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2 On April 4, 2019, 75% Helomics’ precision medicine services are designed to use AI and a comprehensive disease database to improve the effectiveness of cancer therapy. Helomics’ precision oncology services are based on its D-CHIP diagnostic platform, which combines a database of genomic and drug response profiles from over 149,000 The acquisition of Helomics was accounted for as a business combination using the acquisition method of accounting. This method requires, among other things, that assets acquired and liabilities assumed be recognized at fair value as of the acquisition date. The fair value for the assets acquired and the liabilities assumed are based on information knowable and determined by management as of the date of this filing. The Company incurred $656,615 The fair value of the consideration transferred in the acquisition has five $26,711,790. Value of shares to Helomics shareholders (i) $ 5,612,250 Value of Helomics notes receivable forgiven (ii) 2,210,381 Value of shares to extinguish debt (iii) 6,463,309 Value of warrants issued (iv) 6,261,590 Gain on revaluation of equity method investment (v) 6,164,260 Fair value of the consideration $ 26,711,790 Less assets acquired: Cash and cash equivalents 248,102 Accounts receivable 207,769 Inventory 17,727 Prepaid expenses 15,321 Fixed assets, net 1,749,080 Intangible assets 3,725,000 Lease right of use assets 780,594 Plus liabilities assumed: Accounts payable 2,374,596 Note Payable 303,333 Accrued expenses 363,569 Lease Liability – Net of Long-term Portion 422,126 Lease liability 358,468 Total assets acquired and liabilities assumed (2,921,501 ) Goodwill $ 23,790,290 (i) Upon the acquisition, all outstanding shares of Helomics stock not 400,000 3,500,000 $5,612,250; $2,210,381; 863,732 $6,463,309; 1,425,506 23,741,772 59,700 $6,261,590; 25% 2018 $6,164,260 75% 10% The fair values of all common and preferred shares issued as consideration in the transaction was determined using the closing bid price of the Company’s common stock on April 4, 2019. The Company did not three not $303,333 October 11, 2019. fourth 2019. 58,300 $1.00 7 Identifiable Intangible Assets The Company acquired intangible assets related to trademarks for the acquired Helomics trade name with an estimated fair market value of $398,000. The Company acquired intangible assets with a useful life of three $445,000 The Company acquired intangible assets with a useful life of 20 $2,882,000 The acquisition costs related to the intangible assets are presented in legal and accounting expenses within general and administrative expenses in the accompanying consolidated statements of net loss. Goodwill Goodwill of $23,790,290 None Financial Results The financial results of Helomics since the acquisition date have been included in the Company’s accompanying consolidated statements of net loss. Pro Forma The following pro forma information presents the combined results of operations of the Company and Helomics as if the acquisition of Helomics had been completed on January 1, 2018, Year Ended December 31, 2019 2018 Unaudited Revenue $ 1,457,625 $ 1,812,433 Net loss attributable to common shareholders $ (20,947,033 ) (12,419,423 ) The primary adjustments include the deduction of the original depreciation and amortization and the inclusion of the revalued depreciation and amortization for Helomics tangible and intangible assets. The unaudited pro forma results do not may not There are certain portions of purchase accounting, specifically Section 382 Tax Loss Carryforwards not may |
Note 3 - Equity Method Investme
Note 3 - Equity Method Investment | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 3 The Company acquired 25% first 2018. April 4, 2019, zero $439,637 $2,293,580 2019 2018, Summarized financial information for Helomics for the year ended December 31, 2019 not December 31, 2018 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 Period January 1, 2019 to April 4, 2019 Year Ended December 31, 2018 Revenue $ 45,835 $ 523,546 Gross margin 7,348 214,426 Net loss on Operations (1,555,542 ) (9,452,835 ) Net Loss (1,166,656 ) 1 (7,159,255 ) 1 1 80% January 11, 2018 – February 27, 2018, 75% February 28, 2018 – April 4, 2019 The Helomics losses reduced 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 was reduced to zero. Subsequent losses reduced the note receivable due from Helomics. Note receivable on the balance sheet as of December 31, 2018 $413,683. $1,165,013 $751,330 |
Note 4 - Revenue Recognition
Note 4 - Revenue Recognition | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | NOTE 4 Revenue from Product Sales The Company has medical device revenue consisting primarily of sales of the STREAMWAY System, as well as sales of the proprietary cleaning fluid and filters for use with the STREAMWAY System. This revenue stream is reported within both the domestic and international revenue segments. The Company sells its medical device 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, and 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 acceptance of its Terms and Conditions to be a customer’s contract in all cases. Product sales for medical devices 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: ( 1 2 3 4 may, may 30 60 Customers may one one one All amounts billed to a customer in a sales transaction for medical devices 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. This revenue stream is reported under the domestic and international sales segments. Revenue from Clinical Testing The Precision Oncology Insights are clinic diagnostic testing comprised of the Company’s ChemoFx and BioSpeciFx tests. The ChemoFx test determines how a patient’s tumor specimen reacts to a panel of various chemotherapy drugs, while the BioSpeciFx test evaluates the expression of a particular gene related to a patient’s tumor specimen. Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The estimated uncollectible amounts are generally considered implicit price concessions that are a reduction in revenue. Helomics payments terms vary by the agreements reached with insurance carriers and Medicare. The Company’s performance obligations are satisfied at one For service revenues, the Company estimates the transaction price which is the amount of consideration it expects to be entitled to receive in exchange for providing services based on its historical collection experience using a portfolio approach as a practical expedient to account for patient contracts as collective groups rather than individually. The Company monitors its estimates of transaction price to depict conditions that exist at each reporting date. If the Company subsequently determines that it will collect more consideration than it originally estimated for a contract with a patient, it will account for the change as an increase to the estimate of the transaction price, provided that such downward adjustment does not The Company recognizes revenue from these patients when contracts as defined in ASC 606, Revenue from Contracts with Customers 30 CRO Revenue Contract revenues are generally derived from studies conducted with biopharmaceutical and pharmaceutical companies. The specific methodology for revenue recognition is determined on a case-by-case basis according to the facts and circumstances applicable to a given contract. The Company typically uses an input method that recognizes revenue based on the Company’s efforts to satisfy the performance obligation relative to the total expected inputs to the satisfaction of that performance obligation. For contracts with multiple performance obligations, the Company allocates the contract’s transaction price to each performance obligation on the basis of the standalone selling price of each distinct good or service in the contract. Advance payments received in excess of revenues recognized are classified as deferred revenue until such time as the revenue recognition criteria have been met. Payment terms are net 30 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, 2019 2018, $297,055 $232,602, The Company’s deferred revenues related primarily to maintenance plans of $40,384 $23,065 December 31, 2019 2018, Practical Expedients The Company has elected the practical expedient not |
Note 5 - Stockholders' Equity,
Note 5 - Stockholders' Equity, Stock Options and Warrants | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 5 Authorized Shares At the annual meeting on December 28, 2017, 24,000,000 50,000,000 $0.01 January 2, 2018. On March 22, 2019, 50,000,000 100,000,000 $0.01 2018 In January 2018, 290,000 $9.50 one 0.3 one $1.00 $2,755,087, February 21, 2018, 21,525 $0.01, $9.50 $188,066 $16,354 Share Exchange Agreement with Helomics On January 11, 2018, 2,500,000 110,000 20% March 2018, $500,000 5% 25% Share Issuance for Consulting On July 10 11, 2018, 25,000 $0.01, $11.80 75,000 $0.01, $11.70 2019 On February 27, 2019, 138,500 69,250 0.1 0.05 $10.00 fifth $9.00 $1,246,608 $1,111,888. March 1, 2019. 6,925 $11.25 February 27, 2024. On March 26, 2019, 147,875 73,938 0.1 0.05 $10.00 fifth $8.00 $1,183,101 $1,053,460. March 29, 2019. 73,937 $1.00 March 29, 2024. On October 1, 2019, 633,554 $5.00 $3,167,769 $2,811,309. October 4, 2019. 63,355 $6.25 Series E Convertible Preferred Stock In June 2019, 258 0.056857% six June 13, 2019. 12 $289,936, six September 2019. Equity Line On October 24, 2019, $15,000,000 three 104,651 $450,000 three may 2019, 122,356 $319,196 December 31, 2019, $14,680,805 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 ten Valuation and Accounting for Options and Warrants ASC 718 Compensation – Stock Compensation, (“ASC 718” 718 The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility and estimated term. Beginning in 2019, 2019. The fair value of each option grant is estimated on the grant date using the Black-Scholes option valuation model with the following assumptions: Year Ended December 31, 2019 2018 Stock Options Expected dividend yield 0.0% 0.0 Expected stock price volatility 78.6% - 82.4% 66.0 Risk-free interest rate 1.50% - 2.76% 2.46% - 3.07% Expected life of options (in years) 10 10 Warrants Expected dividend yield 0.0 0.0 Expected stock price volatility 78.6% - 82.4% 59.0 Risk-free interest rate 1.39% - 2.58% 2.33% - 2.96% Expected life of options (in years) 5 5 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, 2017 276,498 $ 19.95 195,126 $ 237.40 Issued 109,886 10.13 233,615 10.67 Forfeited (19,456 ) 20.00 (1,071 ) 1,995.53 Exercised - - (65,006 ) 10.00 Outstanding at December 31, 2018 366,928 $ 17.03 362,664 $ 41.67 Issued 423,295 6.53 1,869,299 9.25 Forfeited (23,799 ) 13.30 (653 ) 3,249.28 Exercised - - (59,700 ) 0.10 Outstanding at December 31, 2019 766,424 $ 11.34 2,171,610 $ 15.26 At December 31, 2019, 669,050 $11.93 8.38 2,171,610 2019 2018 $2,250,422 $1,124,928, $201,628 21 The following summarizes the status of options and warrants outstanding at December 31, 2019: Range of Exercise Prices Shares Weighted Options: $2.61 – 6.50 157,848 9.53 $7.324 – 8.491 285,826 9.07 $9.00 – 14.70 310,882 7.50 $21.00 – 51.25 11,045 6.90 $657.50 – 5,962.50 823 4.39 Total 766,424 Warrants: $0.10 – 8.36 250,145 4.56 $10.00 1,674,088 4.22 $10.71 – 22.50 237,970 3.23 $1,237.50 9,407 0.67 Total 2,171,610 Stock options and warrants expire on various dates from January 2020 December 2029. Stock Options and Warrants Granted by the Company The following table is the listing of outstanding stock options and warrants as of December 31, 2019 Stock Options: Year Shares Price 2011 17 $ 2,812.50 2012 171 1,312.50 – 1,500.00 2013 150 1,481.25 – 5,962.50 2014 84 1,625.00 – 4,312.50 2015 401 657.50 – 862.50 2016 9,617 22.50 – 51.25 2017 235,053 10.10 – 21.00 2018 97,636 6.19 – 13.50 2019 423,295 2.61 – 9.00 Total 766,424 $0.45 – 5962.50 Warrants: Year Shares Price 2015 9,407 $ 1,237.50 2016 25,233 10.00 2017 108,295 10.71 – 22.50 2018 219,076 8.36 – 13.125 2019 1,809,599 2.50 – 11.88 Total 2,171,610 $2.50 – 3,095.00 |
Note 6 - Notes Receivable
Note 6 - Notes Receivable | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 6– The Company has a secured promissory note receivable from CytoBioscience for $1,112,524, 8% February 28, 2020. 2019, first April 2019. not first 2019. not March 2, 2020, 13 During 2018, $500,000 833,333 5% 25%. Also, during 2018, $997,500 December 31, 2018 $1,165,013 $29,215. During 2019, $975,000. April 3, 2019, $2,140,013, $70,369 $1,190,967 1. no 2 |
Note 7 - Notes Payable
Note 7 - Notes Payable | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Convertible Debt and Derivative Liability [Text Block] | NOTE 7 The balances of notes payable were as follows: Due Date December 31, 2019 December 31, 2018 Bridge loan March 31, 2020 $ 1,989,104 $ 2,297,727 Promissory note March 27, 2020 680,833 - Equity line borrowing May 26, 2020 18,563 - Equity line borrowing June 10, 2020 147,783 - Equity line borrowing June 20, 2020 194,943 - Dr. Schwartz note September 30, 2020 2,115,000 370,000 Total Notes Payable, gross 5,146,226 2,667,727 Less: Unamortized discount 350,426 1,032,813 Total Notes Payable, net $ 4,795,800 $ 1,634,914 Bridge Loan During September 2018, two $2,297,727 $2,000,000. 65,000 107,178 $11.55 8% February 2019, $344,659 16,667 September 2019, one $144,378 2019 $497,276 not December 31, 2019. No 2018. December 31, 2019 $1,989,104 $133,839. Each investor has the right to convert all or any part of its bridge loan into shares of the Company’s common stock at a conversion factor that is the lesser of a discounted 20 may 267,833 2019, $378,573 103,415 No 2018. Dr. Schwartz Notes In November 2018, $370,000. December 31, 2018, one $370,000 $63,028. November 30, 2018 July 15, 2019, $1,920,000 two 22,129 $8.36 February 1, 2019 first October 2019, not As of January 2020, one December 31, 2019 not February 8, 2020. January 2020, two 13 As of December 31, 2019, $2,115,000. 8% December 31, 2019 12% December 31, 2019. Helomics Investor Notes As disclosed in Note 2 $303,333 October 2019. $18,216 Promissory Note During September 2019, $847,500 $700,000. 8,857 68,237 $6.21 sixth fifth 8% 2019, one $166,667. $33,333 2019 $136,167 not December 31, 2019. December 31, 2019, $680,833 $216,587. Short Term Borrowings During 2019, six 8% 2019, $478,159 $440,000 $118,527 $6,367 2019 $35,468 not December 31, 2019. December 31, 2019 $361,289. Extension of Notes Payable Throughout 2019, 2019, $581,073 $162,750 30,000 13,000 Derivative Liability Management has concluded the September 2018 20 $221,756 $372,263 2019 2018, December 31, 2019 $50,989. On May 21, 2019, February 1, 2019 first 5,753 2019. $22,644 zero December 31, 2019 January 2020, 13 The table below discloses changes in value of the Company’s embedded derivative liabilities related to the bridge loan and the derivative included in the note payable agreements with Dr. Schwartz during the years ended December 31, 2019 December 31, 2018. Derivative liability balance at December 31, 2017 $ - Derivative instruments recognized 645,008 Gain recognized to revalue derivative instrument at fair value (372,263 ) Derivative liability balance at December 31, 2018 $ 272,745 Derivative instrument recognized 69,722 Gain recognized to revalue derivative instrument at fair value (221,756 ) Adjustments to derivative liability for warrants issued (47,078 ) Reduction of derivative liability (22,644 ) Derivative liability balance at December 31, 2019 $ 50,989 |
Note 8 - Loss Per Share
Note 8 - Loss Per Share | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 8 The following table presents the shares used in the basic and diluted loss per common share computations: Year Ended 2019 2018 Numerator: Net loss attributable to common shareholders per common share: basic and diluted calculation $ (19,680,701 ) $ (10,086,477 ) Denominator: Weighted average common shares outstanding-basic 2,870,132 1,281,629 Effect of diluted stock options, warrants and preferred stock (1) - - Weighted average common shares outstanding-diluted 2,870,132 1,281,629 Loss per common share-basic and diluted $ (6.86 ) $ (7.87 ) ( 1 Year Ended December 31, 2019 2018 Options 766,424 366,928 Warrants 2,171,610 362,664 Convertible debt 82,751 329,409 Preferred stock: Series B 7,925 7,925 Preferred stock: Series D 350,000 - Preferred stock: Series E 594,383 - |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 9– 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 differs from statutory federal income tax benefit as follows: Year Ended December 31, 2019 2018 Statutory federal income tax benefit $ 3,977,561 $ 2,118,160 State tax benefit, net of federal taxes 368,635 66,117 Foreign tax benefit 104,050 132,931 Foreign operations tax rate differential (73,869 ) (94,373 ) State rate adjustment (17,585 ) 15,355 R&D tax credit 51,143 22,532 Nondeductible/nontaxable items (517,465 ) (118,905 ) State NOL adjustment (1,054,778 ) 746,479 OID and derivatives 141,908 (159,037 ) Helomics purchase adjustment 66,394,188 - Other 115,896 47,868 Valuation allowance increase (69,489,684 ) (2,777,127 ) Total income tax benefit $ - $ Deferred taxes consist of the following: December 31, 2019 December 31, 2018 Deferred tax assets: Noncurrent: Depreciation $ - $ 4,488 Inventory 6,891 6,991 Compensation accruals 56,670 60,905 Accruals and reserves 77,777 Deferred revenue 7,480 Charitable contribution carryover 3,740 3,972 Derivatives 10,708 57,276 Related party investments 657,633 481,652 Intangibles 295,941 2,020 NSQO compensation 1,589,430 1,019,139 NOL and credits 78,417,618 9,655,388 Total deferred tax assets 81,046,111 11,369,608 Deferred tax liabilities: Noncurrent: Original issue discount (14,021 ) (216,891 ) Depreciation (389,689 ) Total deferred tax liabilities (403,710 ) (216,891 ) Net deferred tax assets 80,642,401 11,152,717 Less: valuation allowance (80,642,401 ) (11,152,717 ) Total - $ - As a result of the Helomics merger on April 4, 2019, December 31, 2019 may The acquired NOL carryforwards from Helomics experienced an ownership change as defined in Section 382 December 2013. may December 2013, not At December 31, 2018, $40,444,754 2019, 382 $34,529,255 2022 $5,915,499 $13,114,182 December 31, 2018. 2019 $421,782 December 31, 2018. December 31, 2018, $9,603,237, $1,416,758 $132,722, At December 31, 2019, $291,476,788 2020, 382 $264,379,011 2021 $27,097,777 $213,762,905 December 31, 2019. 2020 $773,455 December 31, 2019. December 31, 2019, $58,991,353, $21,414,302, $236,746, Tax years subsequent to 2015 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, 2019 2018, no |
Note 10 - Leases
Note 10 - Leases | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 10 The Company’s corporate offices are located in Eagan, Minnesota. The lease as amended has a three January 31, 2021. 5,773 2,945 2,828 Skyline Medical Europe’s offices are located in Belgium. The Company leases around 2,000 750 1,250 June 14, 2027. Helomics’ offices are located in Pittsburgh, Pennsylvania. The lease, as amended, has a three February 28, 2021. 17,417 1,000 16,417 Lease expense under operating lease arrangements was $431,170 $69,013 2019 2018, The following table summarizes other information related to the Company’s operating leases: December 31, 2019 Weighted average remaining lease term – operating leases in years 3.28 Weighted average discount rate – operating leases 8 % The Company’s lease obligation as of December 31, 2019 2020 $ 476,468 2021 111,353 2022 43,154 2023 44,017 2024 44,897 2025 and thereafter 112,271 Total lease payments 832,160 Less interest 102,415 Present value of lease liabilities $ 729,745 |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 11 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”). Tim Krochuk, a Company director until December 31, 2019, no Richard L. Gabriel is also contracted as the Chief Operating Officer for TumorGenesis. During 2018 April 1, 2019, $12,000 six May 1, 2019, one three $13,500 Dr. Carl Schwartz, the Company’s CEO, had made investments in the Company in exchange for promissory notes and common stock. See Note 7 |
Note 12 - Retirement Savings Pl
Note 12 - Retirement Savings Plans | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 12 The Company has a pre-tax salary reduction/profit-sharing plan under the provisions of Section 401 2019 2018, 100% 4.0% $110,714 $51,647 2019 2018, no 2019 2018. |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 13 Equity Line Agreement During the first 2020, 943,000 $1,869,899 Short Term Borrowings During the first 2020, $1,098,684 $1,020,000 $657,105 Promissory Note On February 5, 2020, $1,450,000 $1,200,000. three first $490,000 $400,000. second March 5, 2020, $480,000 $400,000. third $480,000, 60 February 5, 2020. July 5, 2020. 8% As additional consideration, the Company issued to the investor warrants to purchase 94,631 first 92,700 second third sixth $2.992 46,875 first Letter of Intent On January 24, 2020, Completion of the transaction, which is expected to be completed in the second 2020, Term Sheet with InventaBio Tech On March 2, 2020, not 125,000 CEO Promissory Note Exchange Agreement During January 2020, two $2,115,000 12% September 30, 2020 50,000 no October 2019, not December 31, 2019 December 31, 2019 $310,000 2019. Shares Issued to Vendor On March 4, 2020, 150,000 March 2020 On March 15, 2020, 260,000 $2.12 1 one five one 2 one two $1.88 In addition, and in lieu of common shares, certain investors purchased prefunded warrants to purchase 1,390,166 $2.12 $0.0001 The sale of the offering shares and prefunded warrants resulted in gross proceeds of $3,498,612 $3,127,112 March 18, 2020, Extension of Notes Payable On March 19, 2020, March 27, 2020 March 31, 2020 June 27, 2020. $300,000 30,000 not ASC 470 50 2019 In December 2019, 19” 19 19 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Nature of Operations and Continuance of Operations Predictive Oncology Inc., (the “Company” or “Predictive”) 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. June 10, 2019, June 13, 2019. October 28, 2019, one ten October 29, 2019. The Company is a healthcare company that provides personalized medicine solution and medical devices in two 1 2 In addition, the Company’s wholly-owned subsidiary, TumorGenesis Inc. (“TumorGenesis”), is developing the next generation, patient-derived tumor models for precision cancer therapy and drug development. TumorGenesis Inc., formed during the first 2018, During the first 2018, 25% April 4, 2019, 75% The Company has incurred recurring losses from operations and has an accumulated deficit of $82,498,711. not 2019, no may $150,831 December 31, 2019 $6,213,507 December 31, 2019, six may October 2019, $15,000,000 three no three 2019, 122,356 $319,196 2020, $6,159,906, 13 not one not The Company has no |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. 2016 02 January 1, 2019, $353,007 $79,252 2016 02 not The Company leases facilities under long-term operating leases that are non-cancelable and expire on various dates. At the lease commencement date, lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term, which includes all fixed obligations arising from the lease contract. If an interest rate is not 10 |
Use of Estimates, Policy [Policy Text Block] | Accounting Policies and Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and during the reporting period. Actual results could materially differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand. The company has no December 31, 2018 December 31, 2019. |
Receivable [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 allowance based on management’s assessment of the current status of individual accounts. During 2019, $1,037,524 6 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first first December 31, December 31, Finished goods $ 91,410 $ 58,701 Raw materials 69,821 127,003 Work-In-Process 28,925 55,362 Total $ 190,156 $ 241,066 |
Property, Plant and Equipment, Policy [Policy Text Block] | Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation of fixed assets is computed using the straight-line method over the estimated useful lives of the respective assets. Accumulated depreciation is included in fixed assets, net on the accompanying consolidated balance sheets. Estimated useful life by asset classification is as follows: Years Computers and office equipment 3 - 7 Leasehold improvements (1) 5 Manufacturing and laboratory equipment 3 - 7 Demonstration equipment 3 Laboratory equipment 4 ( 1 Leasehold improvements are depreciated over the shorter of the useful life or the remaining lease term. The Company’s fixed assets consist of the following: December 31, December 31, Computers and office equipment $ 508,143 $ 204,903 Leasehold improvements 188,014 140,114 Manufacturing tooling 1,510,165 108,955 Demo equipment 73,051 85,246 Total 2,279,373 539,218 Less: Accumulated depreciation 771,574 358,765 Total fixed assets, net $ 1,507,799 $ 180,453 Upon retirement or sale or fixed assets, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations expense. Maintenance and repairs are expensed as incurred. Depreciation expense was $414,331 $84,995 2019 2018, |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Finite-lived intangible assets consist of patents and trademarks, licensing fees, developed technology, and customer relationships, and are amortized over their estimated useful life. The tradename is an indefinite-lived intangible asset and is not $290,552 $62,633 2019 2018, 360 Property, Plant and Equipment may not may not not 350— Intangibles—Goodwill and Other not As of December 31, 2019, $3,649,412 $964,495 December 31, 2018. The components of intangible assets were as follows: December 31, 2019 December 31, 2018 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Patents & Trademarks $ 339,023 $ (195,286 ) $ 143,737 $ 318,304 $ (182,559 ) $ 135,745 Licensing Fees - - - 877,500 (48,750 ) 828,750 Developed Technology 2,882,000 (108,075 ) 2,773,925 - - - Customer Relationships 445,000 (111,250 ) 333,750 - - - Tradename 398,000 - 398,000 - - - Total $ 4,064,023 $ (414,611 ) $ 3,649,412 $ 1,195,804 $ (231,309 ) $ 964,495 The following table outlines the estimated future amortization expense related to intangible assets held as of December 31, 2019: Year ending December 31, Expense 2020 $ 305,785 2021 305,785 2022 194,535 2023 157,452 2024 157,452 Thereafter 2,130,403 Total $ 3,251,412 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets The Company reviews long-lived assets, including property and equipment and intangible assets with estimable useful lives, for impairment whenever events or changes in circumstances indicate that the carrying amount of such an asset may not The recoverability of an asset to be held and used is determined by comparing the carrying amount to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeded its estimated undiscounted future cash flows, the Company recorded an impairment charge in the amount by which the carrying amount of the asset exceeds its fair value, which is determined by either a quoted market price, if any, or a value determined by utilizing discounted cash flow techniques. During 2019, $58,500 may not $770,250 No 2018. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill In accordance with ASC 350 Intangibles – Goodwill and Other not In the Helomics acquisition, the Company recorded goodwill of $23,790,290. not not first may In testing goodwill for impairment as of December 31, 2019, December 31, 2019. 2017 04 Simplifying the Test for Goodwill Impairment December 31, 2019 $8,100,000 no twelve December 31, 2018. Goodwill balance at December 31, 2018 $ - Acquired 23,790,290 Impairment (8,100,000 ) Goodwill balance at December 31, 2019 $ 15,690,290 When evaluating the fair value of Helomics reporting unit the Company used a discounted cash flow model. Key assumptions used to determine the estimated fair value included: (a) expected cash flow for the 20 3.0% 18.3% 7% The majority of the inputs used in the discounted cash flow model are unobservable and thus are considered to be Level 3 The Company will continue to monitor its reporting units to determine whether events and circumstances warrant further interim impairment testing. Goodwill is not |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements As outlined in ASC – 820, Fair Value Measurement 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 consist of cash and cash equivalents, was determined based on Level 1 3 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition 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. Sales taxes are excluded from revenue and expenses. See Note 4 |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with ASC 740 Income Taxes 740” 740, There is no 100% The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not no Under Internal Revenue Code Section 382, may not not 382 may 382 2020. Tax years subsequent to 2015 |
Advertising Cost [Policy Text Block] | Advertising Advertising costs are expensed as incurred. Advertising expenses were $21,166 2019 $43,548 2018. |
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 $422,964 $526,257 2019 2018, |
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. During 2019, $324,459 |
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 |
Standard Product Warranty, Policy [Policy Text Block] | Product Warranty Costs In 2019 2018, $15,717 $10,682, |
Other Expense Policy [Policy Text Block] | Other Expense Other expense consisted primarily of interest expense, payment penalties, amortization of original issue discounts, and loss on debt extinguishment associated to the Company’s notes payable. |
Segment Reporting, Policy [Policy Text Block] | Segments The Company has determined its operating segments in accordance with ASC 280 Segment Reporting During the fourth 2019, one not 2018, three 4 December 31, 2019 2 not Year Ended December 31, 2019 Domestic International Helomics Corporate Total Revenue $ 1,275,048 $ 88,070 $ 48,447 - $ 1,411,565 Depreciation and Amortization (43,728 ) (4,692 ) (556,538 ) (99,925 ) (704,883 ) Impairment expense - - (8,100,000 ) (770,250 ) (8,870,250 ) Loss on equity method investment - - - (439,637 ) (439,637 ) Segment Loss $ (2,783,531 ) $ (351,759 ) $ (12,354,108 ) $ (3,901,368 ) $ (19,390,766 ) December 31, 2019 Domestic International Helomics Corporate Total Assets $ 670,841 $ 298,952 $ 21,275,306 $ 130,411 $ 22,375,510 In 2018, December 31, 2018 Domestic International Helomics Corporate Total Assets $ 932,367 $ 41,377 - $ 2,735,255 $ 3,708,999 |
Risks and Uncertainties Policy [Policy Text Block] | Risks and Uncertainties The Company is subject to risks common to companies in the medical device and biopharmaceutical industries, including, but not |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, December 31, Finished goods $ 91,410 $ 58,701 Raw materials 69,821 127,003 Work-In-Process 28,925 55,362 Total $ 190,156 $ 241,066 |
Property Plant and Equipment Useful Life [Table Text Block] | Years Computers and office equipment 3 - 7 Leasehold improvements (1) 5 Manufacturing and laboratory equipment 3 - 7 Demonstration equipment 3 Laboratory equipment 4 |
Property, Plant and Equipment [Table Text Block] | December 31, December 31, Computers and office equipment $ 508,143 $ 204,903 Leasehold improvements 188,014 140,114 Manufacturing tooling 1,510,165 108,955 Demo equipment 73,051 85,246 Total 2,279,373 539,218 Less: Accumulated depreciation 771,574 358,765 Total fixed assets, net $ 1,507,799 $ 180,453 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2019 December 31, 2018 Gross Accumulated Net Carrying Gross Accumulated Net Carrying Patents & Trademarks $ 339,023 $ (195,286 ) $ 143,737 $ 318,304 $ (182,559 ) $ 135,745 Licensing Fees - - - 877,500 (48,750 ) 828,750 Developed Technology 2,882,000 (108,075 ) 2,773,925 - - - Customer Relationships 445,000 (111,250 ) 333,750 - - - Tradename 398,000 - 398,000 - - - Total $ 4,064,023 $ (414,611 ) $ 3,649,412 $ 1,195,804 $ (231,309 ) $ 964,495 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, Expense 2020 $ 305,785 2021 305,785 2022 194,535 2023 157,452 2024 157,452 Thereafter 2,130,403 Total $ 3,251,412 |
Schedule of Goodwill [Table Text Block] | Goodwill balance at December 31, 2018 $ - Acquired 23,790,290 Impairment (8,100,000 ) Goodwill balance at December 31, 2019 $ 15,690,290 |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2019 Domestic International Helomics Corporate Total Revenue $ 1,275,048 $ 88,070 $ 48,447 - $ 1,411,565 Depreciation and Amortization (43,728 ) (4,692 ) (556,538 ) (99,925 ) (704,883 ) Impairment expense - - (8,100,000 ) (770,250 ) (8,870,250 ) Loss on equity method investment - - - (439,637 ) (439,637 ) Segment Loss $ (2,783,531 ) $ (351,759 ) $ (12,354,108 ) $ (3,901,368 ) $ (19,390,766 ) December 31, 2019 Domestic International Helomics Corporate Total Assets $ 670,841 $ 298,952 $ 21,275,306 $ 130,411 $ 22,375,510 December 31, 2018 Domestic International Helomics Corporate Total Assets $ 932,367 $ 41,377 - $ 2,735,255 $ 3,708,999 |
Note 2 - Helomics Acquisition (
Note 2 - Helomics Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Value of shares to Helomics shareholders (i) $ 5,612,250 Value of Helomics notes receivable forgiven (ii) 2,210,381 Value of shares to extinguish debt (iii) 6,463,309 Value of warrants issued (iv) 6,261,590 Gain on revaluation of equity method investment (v) 6,164,260 Fair value of the consideration $ 26,711,790 Less assets acquired: Cash and cash equivalents 248,102 Accounts receivable 207,769 Inventory 17,727 Prepaid expenses 15,321 Fixed assets, net 1,749,080 Intangible assets 3,725,000 Lease right of use assets 780,594 Plus liabilities assumed: Accounts payable 2,374,596 Note Payable 303,333 Accrued expenses 363,569 Lease Liability – Net of Long-term Portion 422,126 Lease liability 358,468 Total assets acquired and liabilities assumed (2,921,501 ) Goodwill $ 23,790,290 |
Business Acquisition, Pro Forma Information [Table Text Block] | Year Ended December 31, 2019 2018 Unaudited Revenue $ 1,457,625 $ 1,812,433 Net loss attributable to common shareholders $ (20,947,033 ) (12,419,423 ) |
Note 3 - Equity Method Invest_2
Note 3 - Equity Method Investment (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
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 Period January 1, 2019 to April 4, 2019 Year Ended December 31, 2018 Revenue $ 45,835 $ 523,546 Gross margin 7,348 214,426 Net loss on Operations (1,555,542 ) (9,452,835 ) Net Loss (1,166,656 ) 1 (7,159,255 ) 1 |
Note 5 - Stockholders' Equity_2
Note 5 - Stockholders' Equity, Stock Options and Warrants (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | Year Ended December 31, 2019 2018 Stock Options Expected dividend yield 0.0% 0.0 Expected stock price volatility 78.6% - 82.4% 66.0 Risk-free interest rate 1.50% - 2.76% 2.46% - 3.07% Expected life of options (in years) 10 10 Warrants Expected dividend yield 0.0 0.0 Expected stock price volatility 78.6% - 82.4% 59.0 Risk-free interest rate 1.39% - 2.58% 2.33% - 2.96% Expected life of options (in years) 5 5 |
Share-based Payment Arrangement, Activity [Table Text Block] | Stock Options Warrants Number of Average Number of Average Outstanding at December 31, 2017 276,498 $ 19.95 195,126 $ 237.40 Issued 109,886 10.13 233,615 10.67 Forfeited (19,456 ) 20.00 (1,071 ) 1,995.53 Exercised - - (65,006 ) 10.00 Outstanding at December 31, 2018 366,928 $ 17.03 362,664 $ 41.67 Issued 423,295 6.53 1,869,299 9.25 Forfeited (23,799 ) 13.30 (653 ) 3,249.28 Exercised - - (59,700 ) 0.10 Outstanding at December 31, 2019 766,424 $ 11.34 2,171,610 $ 15.26 |
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: $2.61 – 6.50 157,848 9.53 $7.324 – 8.491 285,826 9.07 $9.00 – 14.70 310,882 7.50 $21.00 – 51.25 11,045 6.90 $657.50 – 5,962.50 823 4.39 Total 766,424 Warrants: $0.10 – 8.36 250,145 4.56 $10.00 1,674,088 4.22 $10.71 – 22.50 237,970 3.23 $1,237.50 9,407 0.67 Total 2,171,610 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Year Shares Price 2011 17 $ 2,812.50 2012 171 1,312.50 – 1,500.00 2013 150 1,481.25 – 5,962.50 2014 84 1,625.00 – 4,312.50 2015 401 657.50 – 862.50 2016 9,617 22.50 – 51.25 2017 235,053 10.10 – 21.00 2018 97,636 6.19 – 13.50 2019 423,295 2.61 – 9.00 Total 766,424 $0.45 – 5962.50 Year Shares Price 2015 9,407 $ 1,237.50 2016 25,233 10.00 2017 108,295 10.71 – 22.50 2018 219,076 8.36 – 13.125 2019 1,809,599 2.50 – 11.88 Total 2,171,610 $2.50 – 3,095.00 |
Note 7 - Notes Payable (Tables)
Note 7 - Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | Due Date December 31, 2019 December 31, 2018 Bridge loan March 31, 2020 $ 1,989,104 $ 2,297,727 Promissory note March 27, 2020 680,833 - Equity line borrowing May 26, 2020 18,563 - Equity line borrowing June 10, 2020 147,783 - Equity line borrowing June 20, 2020 194,943 - Dr. Schwartz note September 30, 2020 2,115,000 370,000 Total Notes Payable, gross 5,146,226 2,667,727 Less: Unamortized discount 350,426 1,032,813 Total Notes Payable, net $ 4,795,800 $ 1,634,914 |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | Derivative liability balance at December 31, 2017 $ - Derivative instruments recognized 645,008 Gain recognized to revalue derivative instrument at fair value (372,263 ) Derivative liability balance at December 31, 2018 $ 272,745 Derivative instrument recognized 69,722 Gain recognized to revalue derivative instrument at fair value (221,756 ) Adjustments to derivative liability for warrants issued (47,078 ) Reduction of derivative liability (22,644 ) Derivative liability balance at December 31, 2019 $ 50,989 |
Note 8 - Loss Per Share (Tables
Note 8 - Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended 2019 2018 Numerator: Net loss attributable to common shareholders per common share: basic and diluted calculation $ (19,680,701 ) $ (10,086,477 ) Denominator: Weighted average common shares outstanding-basic 2,870,132 1,281,629 Effect of diluted stock options, warrants and preferred stock (1) - - Weighted average common shares outstanding-diluted 2,870,132 1,281,629 Loss per common share-basic and diluted $ (6.86 ) $ (7.87 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2019 2018 Options 766,424 366,928 Warrants 2,171,610 362,664 Convertible debt 82,751 329,409 Preferred stock: Series B 7,925 7,925 Preferred stock: Series D 350,000 - Preferred stock: Series E 594,383 - |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2019 2018 Statutory federal income tax benefit $ 3,977,561 $ 2,118,160 State tax benefit, net of federal taxes 368,635 66,117 Foreign tax benefit 104,050 132,931 Foreign operations tax rate differential (73,869 ) (94,373 ) State rate adjustment (17,585 ) 15,355 R&D tax credit 51,143 22,532 Nondeductible/nontaxable items (517,465 ) (118,905 ) State NOL adjustment (1,054,778 ) 746,479 OID and derivatives 141,908 (159,037 ) Helomics purchase adjustment 66,394,188 - Other 115,896 47,868 Valuation allowance increase (69,489,684 ) (2,777,127 ) Total income tax benefit $ - $ |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2019 December 31, 2018 Deferred tax assets: Noncurrent: Depreciation $ - $ 4,488 Inventory 6,891 6,991 Compensation accruals 56,670 60,905 Accruals and reserves 77,777 Deferred revenue 7,480 Charitable contribution carryover 3,740 3,972 Derivatives 10,708 57,276 Related party investments 657,633 481,652 Intangibles 295,941 2,020 NSQO compensation 1,589,430 1,019,139 NOL and credits 78,417,618 9,655,388 Total deferred tax assets 81,046,111 11,369,608 Deferred tax liabilities: Noncurrent: Original issue discount (14,021 ) (216,891 ) Depreciation (389,689 ) Total deferred tax liabilities (403,710 ) (216,891 ) Net deferred tax assets 80,642,401 11,152,717 Less: valuation allowance (80,642,401 ) (11,152,717 ) Total - $ - |
Note 10 - Leases (Tables)
Note 10 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Lease, Cost [Table Text Block] | December 31, 2019 Weighted average remaining lease term – operating leases in years 3.28 Weighted average discount rate – operating leases 8 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2020 $ 476,468 2021 111,353 2022 43,154 2023 44,017 2024 44,897 2025 and thereafter 112,271 Total lease payments 832,160 Less interest 102,415 Present value of lease liabilities $ 729,745 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) | Oct. 28, 2019 | Oct. 24, 2019USD ($)shares | Oct. 31, 2019USD ($)shares | Mar. 27, 2020USD ($) | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Apr. 04, 2019USD ($) | Jan. 01, 2019USD ($) | Mar. 31, 2018 |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (82,498,711) | $ (63,107,945) | |||||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 150,831 | 162,152 | |||||||
Long-term Debt, Current Maturities, Total | 6,213,507 | ||||||||
Stock Issued During Period, Value, New Issues | 2,755,087 | ||||||||
Operating Lease, Right-of-Use Asset | 729,745 | ||||||||
Operating Lease, Liability, Current | 459,481 | ||||||||
Cash Equivalents, at Carrying Value, Total | 0 | 0 | |||||||
Depreciation, Total | 414,331 | 84,995 | |||||||
Amortization of Intangible Assets, Total | 290,552 | 62,633 | |||||||
Intangible Assets, Net (Excluding Goodwill), Total | 3,649,412 | 964,495 | |||||||
Impairment of Intangible Assets (Excluding Goodwill), Total | 770,250 | ||||||||
Goodwill, Ending Balance | 15,690,290 | ||||||||
Goodwill, Impairment Loss | 8,100,000 | 0 | |||||||
Income Tax Expense (Benefit), Total | 0 | ||||||||
Unrecognized Tax Benefits, Ending Balance | 0 | ||||||||
Liability for Uncertainty in Income Taxes, Current | $ 0 | ||||||||
Open Tax Year | 2015 2016 2017 2018 2019 | ||||||||
Advertising Expense | $ 21,166 | 43,548 | |||||||
Research and Development Expense, Total | 422,964 | 526,257 | |||||||
Capitalized Offering Costs | 324,459 | ||||||||
Product Warranty Expense | $ 15,717 | $ 10,682 | |||||||
Measurement Input, Expected Cash Flow Term [Member] | |||||||||
Reporting Unit Measurement Input | 20 | ||||||||
Measurement Input, Long-term Revenue Growth Rate [Member] | |||||||||
Reporting Unit Measurement Input | 3 | ||||||||
Measurement Input, Discount Rate [Member] | |||||||||
Reporting Unit Measurement Input | 18.3 | ||||||||
Measurement Input, Risk Premium [Member] | |||||||||
Reporting Unit Measurement Input | 7 | ||||||||
Licensing Agreements [Member] | |||||||||
Amortization of Intangible Assets, Total | $ 58,500 | ||||||||
Impairment of Intangible Assets (Excluding Goodwill), Total | 770,250 | ||||||||
Promissory Notes Receivable [Member] | |||||||||
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 1,037,524 | ||||||||
Accounting Standards Update 2016-02 [Member] | |||||||||
Operating Lease, Right-of-Use Asset | $ 353,007 | ||||||||
Operating Lease, Liability, Current | $ 79,252 | ||||||||
Subsequent Event [Member] | |||||||||
Proceeds from Debt and Equity Financing, Net | $ 6,159,906 | ||||||||
Equity Line Purchase Agreement [Member] | |||||||||
Issuance or Sale of Equity, Can Be Raised | $ 15,000,000 | ||||||||
Stock Issued During Period, Shares, New Issues | shares | 104,651 | 122,356 | |||||||
Stock Issued During Period, Value, New Issues | $ 450,000 | $ 319,196 | |||||||
Equity Line Purchase Agreement [Member] | Investor [Member] | |||||||||
Issuance or Sale of Equity, Can Be Raised | $ 15,000,000 | ||||||||
Stock Issued During Period, Shares, New Issues | shares | 122,356 | ||||||||
Stock Issued During Period, Value, New Issues | $ 319,196 | ||||||||
Helomics Holding Corp. [Member] | |||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 25.00% | ||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 75.00% | ||||||||
Goodwill, Ending Balance | $ 23,790,290 | ||||||||
Reverse Stock Split [Member] | |||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 10 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Schedule of Inventory (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Finished goods | $ 91,410 | $ 58,701 |
Raw materials | 69,821 | 127,003 |
Work-In-Process | 28,925 | 55,362 |
Total | $ 190,156 | $ 241,066 |
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, 2019 | ||
Leasehold Improvements [Member] | ||
Property, plant, and equipment, useful life (Year) | 5 years | [1] |
Demo Equipment [Member] | ||
Property, plant, and equipment, useful life (Year) | 3 years | |
Laboratory Equipment [Member] | ||
Property, plant, and equipment, useful life (Year) | 4 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 | |
[1] | Leasehold improvements are depreciated over the shorter of the useful life or the remaining lease term. |
Note 1 - Summary of Significa_6
Note 1 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Property, Plant, and Equipment Gross | $ 2,279,373 | $ 539,218 |
Less: Accumulated depreciation | 771,574 | 358,765 |
Total fixed assets, net | 1,507,799 | 180,453 |
Office Equipment [Member] | ||
Property, Plant, and Equipment Gross | 508,143 | 204,903 |
Leasehold Improvements [Member] | ||
Property, Plant, and Equipment Gross | 188,014 | 140,114 |
Manufacturing Tooling [Member] | ||
Property, Plant, and Equipment Gross | 1,510,165 | 108,955 |
Demo Equipment [Member] | ||
Property, Plant, and Equipment Gross | $ 73,051 | $ 85,246 |
Note 1 - Summary of Significa_7
Note 1 - Summary of Significant Accounting Policies - Components of Intangible Assets (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Accumulated Amortization | $ (414,611) | $ (231,309) |
Net Carrying Amount | 3,251,412 | |
Total | 4,064,023 | 1,195,804 |
Intangibles, net | 3,649,412 | 964,495 |
Trade Names [Member] | ||
Tradename | 398,000 | |
Patents and Trademarks [Member] | ||
Gross Carrying Costs | 339,023 | 318,304 |
Accumulated Amortization | (195,286) | (182,559) |
Net Carrying Amount | 143,737 | 135,745 |
Licensing Agreements [Member] | ||
Gross Carrying Costs | 877,500 | |
Accumulated Amortization | (48,750) | |
Net Carrying Amount | 828,750 | |
Developed Technology Rights [Member] | ||
Gross Carrying Costs | 2,882,000 | |
Accumulated Amortization | (108,075) | |
Net Carrying Amount | 2,773,925 | |
Customer Relationships [Member] | ||
Gross Carrying Costs | 445,000 | |
Accumulated Amortization | (111,250) | |
Net Carrying Amount | $ 333,750 |
Note 1 - Summary of Significa_8
Note 1 - Summary of Significant Accounting Policies - Estimated Future Amortization Expense (Details) | Dec. 31, 2019USD ($) |
2020 | $ 305,785 |
2021 | 305,785 |
2022 | 194,535 |
2023 | 157,452 |
2024 | 157,452 |
Thereafter | 2,130,403 |
Total | $ 3,251,412 |
Note 1 - Summary of Significa_9
Note 1 - Summary of Significant Accounting Policies - Goodwill (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Goodwill | ||
Acquired | 23,790,290 | |
Impairment | (8,100,000) | $ 0 |
Goodwill | $ 15,690,290 |
Note 1 - Summary of Signific_10
Note 1 - Summary of Significant Accounting Policies - Segments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue | $ 1,411,565 | $ 1,411,655 |
Depreciation and Amortization | (704,883) | |
Impairment expense | (8,870,250) | |
Loss on equity method investment | (439,637) | (2,293,580) |
Segment Loss | (19,390,766) | (10,086,477) |
Assets | 22,375,510 | 3,708,999 |
Domestic [Member] | ||
Revenue | 1,275,048 | |
Depreciation and Amortization | (43,728) | |
Impairment expense | ||
Loss on equity method investment | ||
Segment Loss | (2,783,531) | |
Assets | 670,841 | 932,367 |
International [Member] | ||
Revenue | 88,070 | |
Depreciation and Amortization | (4,692) | |
Impairment expense | ||
Loss on equity method investment | ||
Segment Loss | (351,759) | |
Assets | 298,952 | 41,377 |
Helomics Segment [Member] | ||
Revenue | 48,447 | |
Depreciation and Amortization | (556,538) | |
Impairment expense | (8,100,000) | |
Loss on equity method investment | ||
Segment Loss | (12,354,108) | |
Assets | 21,275,306 | |
Corporate Segment [Member] | ||
Revenue | ||
Depreciation and Amortization | (99,925) | |
Impairment expense | (770,250) | |
Loss on equity method investment | (439,637) | |
Segment Loss | (3,901,368) | |
Assets | $ 130,411 | $ 2,735,255 |
Note 2 - Helomics Acquisition_2
Note 2 - Helomics Acquisition (Details Textual) - USD ($) | Apr. 04, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Stock Issued During Period, Value, Extinguishment of Debt | $ 6,463,309 | |||
Warrants Issued | 47,078 | |||
Debt Instrument, Face Amount | 5,146,226 | 2,667,727 | ||
Goodwill, Ending Balance | $ 15,690,290 | |||
Notes Issued to Helomics' Noteholders [Member] | ||||
Debt Instrument, Face Amount | $ 303,333 | |||
Warrants Held by Noteholders [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | |||
Helomics Holding Corp. [Member] | ||||
Business Acquisition, Percentage of Voting Interests Acquired | 75.00% | |||
Business Combination, Acquisition Related Costs | $ 656,615 | |||
Business Combination, Consideration Transferred, Total | 26,711,790 | |||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | [1] | 5,612,250 | ||
Business Combination, Notes and Interest Due Forgave | [2] | $ 2,210,381 | ||
Stock Issued During Period, Shares, Extinguishment of Debt | 863,732 | |||
Stock Issued During Period, Value, Extinguishment of Debt | [3] | $ 6,463,309 | ||
Stock Issued During Period, Shares, Acquisitions | 23,741,772 | |||
Warrants Issued | [4] | $ 6,261,590 | ||
Business Acquisition, Revaluation, Gain (Loss) on Acquisition | [5] | 6,164,260 | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 3,725,000 | |||
Goodwill, Ending Balance | 23,790,290 | |||
Helomics Holding Corp. [Member] | Trade Names [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 398,000 | |||
Helomics Holding Corp. [Member] | Customer Relationships [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 445,000 | |||
Finite-Lived Intangible Asset, Useful Life | 3 years | |||
Helomics Holding Corp. [Member] | Developed Technology Rights [Member] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 2,882,000 | |||
Finite-Lived Intangible Asset, Useful Life | 20 years | |||
Helomics Holding Corp. [Member] | Warrants Issued to Holders of Helomics Notes and Warrants [Member] | ||||
Class of Warrant or Right Issued During Period | 1,425,506 | |||
Helomics Holding Corp. [Member] | Warrants Held by Other Parties [Member] | ||||
Class of Warrant or Right Issued During Period | 59,700 | |||
Helomics Holding Corp. [Member] | Common Stock [Member] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 400,000 | |||
Helomics Holding Corp. [Member] | Series D Convertible Preferred Stock [Member] | ||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | 3,500,000 | |||
[1] | Upon the acquisition, all outstanding shares of Helomics stock not already held by the Company were converted into the right to receive a proportionate share of 400,000 shares of common stock and 3,500,000 shares of Series D convertible preferred stock of the Company. The fair value of these shares on the date of issuance was $5,612,250; | |||
[2] | the Company forgave notes and interest due from Helomics relating to previous cash advances equaling $2,210,381; | |||
[3] | the Company eliminated debt owed by Helomics to noteholders by issuing 863,732 shares of common stock to the noteholders, the value of the shares was $6,463,309; | |||
[4] | the Company issued 14,245,063 warrants in exchange for warrants to purchase 23,741,772 shares of Helomics common stock to the Helomics noteholders agreeing to extinguish or extend their notes. An additional 597,000 warrants were exchanged for warrants held by other parties; the total consideration of all the exchanged warrants was valued by using the Black Scholes method and equaled $6,261,591; | |||
[5] | as the Company's acquisition of Helomics was a business combination achieved in stages, the initial 25% purchase of Helomics in 2018 was required to be revalued at current fair value on the acquisition date. Immediately prior to the acquisition date the recorded value of the equity method investment was zero. On the acquisition date the Company determined the fair value of the previous equity method investment was $6,164,260 and recorded a gain for the same amount in order to recognize the investment at its fair value. The gain was calculated as the difference between the implied fair value of the Company’s previous equity method investment in Helomics and the recorded book value immediately prior to the acquisition date. The implied fair value was calculated based on the purchase consideration exchanged to acquire the remaining 75% of Helomics and factoring a 10% discount for lack of control. |
Note 2 - Helomics Acquisition -
Note 2 - Helomics Acquisition - Fair value of Assets and Liabilities Assumed (Details) - USD ($) | Apr. 04, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Value of shares to extinguish debt (iii) | $ 6,463,309 | |||
Value of warrants issued (iv) | 47,078 | |||
Goodwill, Ending Balance | $ 15,690,290 | |||
Helomics Holding Corp. [Member] | ||||
Value of shares to Helomics shareholders (i) | [1] | $ 5,612,250 | ||
Value of Helomics notes receivable forgiven (ii) | [2] | 2,210,381 | ||
Value of shares to extinguish debt (iii) | [3] | 6,463,309 | ||
Value of warrants issued (iv) | [4] | 6,261,590 | ||
Business Acquisition, Revaluation, Gain (Loss) on Acquisition | [5] | 6,164,260 | ||
Fair value of the consideration | 26,711,790 | |||
Cash and cash equivalents | 248,102 | |||
Accounts receivable | 207,769 | |||
Inventory | 17,727 | |||
Prepaid expenses | 15,321 | |||
Fixed assets, net | 1,749,080 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 3,725,000 | |||
Lease right of use assets | 780,594 | |||
Accounts payable | 2,374,596 | |||
Note Payable | 303,333 | |||
Accrued expenses | 363,569 | |||
Lease Liability – Net of Long-term Portion | 422,126 | |||
Lease liability | 358,468 | |||
Total assets acquired and liabilities assumed | (2,921,501) | |||
Goodwill, Ending Balance | $ 23,790,290 | |||
[1] | Upon the acquisition, all outstanding shares of Helomics stock not already held by the Company were converted into the right to receive a proportionate share of 400,000 shares of common stock and 3,500,000 shares of Series D convertible preferred stock of the Company. The fair value of these shares on the date of issuance was $5,612,250; | |||
[2] | the Company forgave notes and interest due from Helomics relating to previous cash advances equaling $2,210,381; | |||
[3] | the Company eliminated debt owed by Helomics to noteholders by issuing 863,732 shares of common stock to the noteholders, the value of the shares was $6,463,309; | |||
[4] | the Company issued 14,245,063 warrants in exchange for warrants to purchase 23,741,772 shares of Helomics common stock to the Helomics noteholders agreeing to extinguish or extend their notes. An additional 597,000 warrants were exchanged for warrants held by other parties; the total consideration of all the exchanged warrants was valued by using the Black Scholes method and equaled $6,261,591; | |||
[5] | as the Company's acquisition of Helomics was a business combination achieved in stages, the initial 25% purchase of Helomics in 2018 was required to be revalued at current fair value on the acquisition date. Immediately prior to the acquisition date the recorded value of the equity method investment was zero. On the acquisition date the Company determined the fair value of the previous equity method investment was $6,164,260 and recorded a gain for the same amount in order to recognize the investment at its fair value. The gain was calculated as the difference between the implied fair value of the Company’s previous equity method investment in Helomics and the recorded book value immediately prior to the acquisition date. The implied fair value was calculated based on the purchase consideration exchanged to acquire the remaining 75% of Helomics and factoring a 10% discount for lack of control. |
Note 2 - Helomics Acquisition_3
Note 2 - Helomics Acquisition - Pro Forma Information (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue | $ 1,457,625 | $ 1,812,433 |
Net loss attributable to common shareholders | $ (20,947,033) | $ (12,419,423) |
Note 3 - Equity Method Invest_3
Note 3 - Equity Method Investment (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Apr. 04, 2019 | Feb. 27, 2018 | |
Income (Loss) from Equity Method Investments, Total | $ (439,637) | $ (2,293,580) | |||
Helomics Holding Corp. [Member] | |||||
Equity Method Investment, Ownership Percentage, Purchased During Period | 25.00% | ||||
Equity Method Investments | 0 | ||||
Income (Loss) from Equity Method Investments, Total | $ (439,637) | (2,293,580) | |||
Equity Method Investment, Ownership Percentage | 75.00% | 80.00% | |||
Financing Receivable, after Allowance for Credit Loss, Total | 413,683 | ||||
Financing Receivable, before Allowance for Credit Loss, Total | 1,165,013 | ||||
Fair Value Adjustment of Notes Receivable | $ 751,330 |
Note 3 - Equity Method Invest_4
Note 3 - Equity Method Investment - Summary of Equity Method Investments (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Apr. 04, 2019 | Dec. 31, 2018 | ||
Gross margin | $ (1,555,542) | $ (9,452,835) | |
Net Loss | [1] | (1,166,656) | (7,159,255) |
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 | 45,835 | 523,546 | |
Gross margin | $ 7,348 | $ 214,426 | |
[1] | The loss to investee was calculated at 80% for the initial period of ownership, January 11, 2018 – February 27, 2018, and at 75% for the period of February 28, 2018 – April 4, 2019 at the current equity investment percentage owned by the Company. |
Note 4 - Revenue Recognition (D
Note 4 - Revenue Recognition (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Maintenance Plan, Service Requirement, Period Subsequent to One Year Anniversary of Invoice | 1 year | |
Contract with Customer, Asset, Allowance for Credit Loss, Ending Balance | $ 297,055 | $ 232,602 |
Contract with Customer, Liability, Current | $ 40,384 | $ 23,065 |
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 5 - Stockholders' Equity_3
Note 5 - Stockholders' Equity, Stock Options and Warrants (Details Textual) | Oct. 24, 2019USD ($)shares | Oct. 01, 2019USD ($)$ / sharesshares | Mar. 26, 2019USD ($)$ / sharesshares | Feb. 27, 2019USD ($)$ / sharesshares | Jul. 11, 2018$ / sharesshares | Jul. 10, 2018$ / sharesshares | Feb. 21, 2018$ / sharesshares | Jan. 11, 2018shares | Jun. 30, 2019USD ($)shares | Jan. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares | Oct. 04, 2019$ / sharesshares | Mar. 29, 2019$ / sharesshares | Mar. 22, 2019$ / sharesshares | Mar. 01, 2019$ / sharesshares | Mar. 31, 2018USD ($) | Dec. 28, 2017$ / sharesshares | Jan. 29, 2017shares |
Common Stock, Shares Authorized | 100,000,000 | 50,000,000 | 100,000,000 | 50,000,000 | 24,000,000 | ||||||||||||||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 11.70 | $ 11.80 | |||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 25,000 | ||||||||||||||||||
Stock Issued During Period, Share, Issued in Escrow | 75,000 | ||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 5,323,018 | $ 2,959,509 | |||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | 2,755,087 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number | 669,050 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ / shares | $ 11.93 | ||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term | 8 years 138 days | ||||||||||||||||||
Class of Warrant or Right Number of Warrants Vested and Exercisable | 2,171,610 | ||||||||||||||||||
Share-based Payment Arrangement, Expense | $ | $ 2,250,422 | $ 1,124,928 | |||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ | $ 201,628 | ||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition | 1 year 270 days | ||||||||||||||||||
Series E Convertible Preferred Stock [Member] | |||||||||||||||||||
Stock Issued During Period, Shares, Convertible Preferred Shares Issued | 258 | ||||||||||||||||||
Convertible Preferred Stock, Conversion Rate | 0.00056857 | ||||||||||||||||||
Preferred Stock, Beneficial Conversion Feature | $ | $ 289,936 | ||||||||||||||||||
Maximum [Member] | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3,095 | ||||||||||||||||||
Maximum [Member] | Equity Incentive Plan [Member] | |||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||||||||||||||
Helomics Holding Corp. [Member] | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 110,000 | ||||||||||||||||||
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% | 5.00% | |||||||||||||||||
Share Exchange Agreement, Potential Interest | 25.00% | ||||||||||||||||||
Series E Warrants [Member] | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 10 | ||||||||||||||||||
The 2019 Offering Warrants [Member] | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.05 | ||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 10 | $ 10 | |||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 73,938 | 69,250 | |||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||||||||||||||
The 2019 Offering Warrants [Member] | Dawson James Securities, Inc. and Paulson Investment Company, LLC [Member] | |||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 6.25 | $ 1 | $ 11.25 | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 73,937 | ||||||||||||||||||
The 2019 Offering Warrants [Member] | Dawson James Securities, Inc. and Paulson Investment Company, LLC [Member] | Maximum [Member] | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 63,355 | ||||||||||||||||||
Right to Purchase Units [Member] | Dawson James Securities, Inc. and Paulson Investment Company, LLC [Member] | |||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 6,925 | ||||||||||||||||||
The 2018 Public Offering [Member] | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 290,000 | ||||||||||||||||||
Share Price | $ / shares | $ 9.50 | ||||||||||||||||||
Share Per Each Unit | 1 | ||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 2,755,087 | ||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ | 188,066 | ||||||||||||||||||
Payments of Stock Issuance Costs | $ | $ 16,354 | ||||||||||||||||||
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 | ||||||||||||||||||
Over-Allotment Option [Member] | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 21,525 | ||||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 9.50 | $ 9.497 | |||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 204,422 | ||||||||||||||||||
The 2019 Offering [Member] | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 633,554 | 147,875 | 138,500 | ||||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 5 | $ 8 | $ 9 | ||||||||||||||||
Share Per Each Unit | 0.1 | ||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 1,183,101 | $ 1,246,608 | |||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ | $ 2,811,309 | $ 1,053,460 | $ 1,111,888 | ||||||||||||||||
Unit Agreement Number of Shares of Common Stock Included in Each Unit | 0.1 | ||||||||||||||||||
Unit Agreement Number of Warrants Included in Each Unit | 0.05 | ||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 3,167,769 | ||||||||||||||||||
Equity Line Purchase Agreement [Member] | |||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 104,651 | 122,356 | |||||||||||||||||
Issuance or Sale of Equity, Can Be Raised | $ | $ 15,000,000 | ||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 450,000 | $ 319,196 | |||||||||||||||||
Sale of Stock, Remaining Available Balance | $ | $ 14,680,805 |
Note 5 - Stockholders' Equity_4
Note 5 - Stockholders' Equity, Stock Options and Warrants - Valuation Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Expected dividend yield | 0.00% | 0.00% |
Expected stock price volatility | 66.00% | |
Expected life of options (in years) (Year) | 10 years | 10 years |
Measurement Input, Expected Dividend Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0 | 0 |
Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 59 | |
Measurement Input, Expected Term [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 5 | 5 |
Minimum [Member] | ||
Expected stock price volatility | 78.60% | |
Risk-free interest rate | 1.50% | 2.46% |
Minimum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 78.6 | |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 1.39 | 2.33 |
Maximum [Member] | ||
Expected stock price volatility | 82.40% | |
Risk-free interest rate | 2.76% | 3.07% |
Maximum [Member] | Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 82.4 | |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 2.58 | 2.96 |
Note 5 - Stockholders' Equity_5
Note 5 - Stockholders' Equity, Stock Options and Warrants - Summary of Transactions for Stock Options and Warrants (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Number of Shares Outstanding (in shares) | 766,424 | |
Warrant [Member] | ||
Number of Shares Outstanding (in shares) | 362,664 | 195,126 |
Average Exercise Price Outstanding (in dollars per share) | $ 41.67 | $ 237.40 |
Number of Shares Issued (in shares) | 1,869,299 | 233,615 |
Average Exercise Price Issued (in dollars per share) | $ 9.25 | $ 10.67 |
Number of Shares Forfeited (in shares) | (653) | (1,071) |
Average Exercise Price Forfeited (in dollars per share) | $ 3,249.28 | $ 1,995.53 |
Number of Shares Exercised (in shares) | (59,700) | (65,006) |
Average Exercise Price Exercised (in dollars per share) | $ 0.10 | $ 10 |
Number of Shares Outstanding (in shares) | 2,171,610 | 362,664 |
Average Exercise Price Outstanding (in dollars per share) | $ 15.26 | $ 41.67 |
Share-based Payment Arrangement, Option [Member] | ||
Number of Shares Outstanding (in shares) | 366,928 | 276,498 |
Average Exercise Price Outstanding (in dollars per share) | $ 17.03 | $ 19.95 |
Number of Shares Issued (in shares) | 423,295 | 109,886 |
Average Exercise Price Issued (in dollars per share) | $ 6.53 | $ 10.13 |
Number of Shares Forfeited (in shares) | (23,799) | (19,456) |
Average Exercise Price Forfeited (in dollars per share) | $ 13.30 | $ 20 |
Number of Shares Exercised (in shares) | ||
Average Exercise Price Exercised (in dollars per share) | ||
Average Exercise Price Exercised (in dollars per share) | ||
Number of Shares Outstanding (in shares) | 766,424 | 366,928 |
Average Exercise Price Outstanding (in dollars per share) | $ 11.34 | $ 17.03 |
Note 5 - Stockholders' Equity_6
Note 5 - Stockholders' Equity, Stock Options and Warrants - Summary of Status of Options and Warrants Outstanding (Details) | 12 Months Ended |
Dec. 31, 2019$ / sharesshares | |
Shares, options (in shares) | shares | 766,424 |
Shares, warrants (in shares) | shares | 2,171,610 |
Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 2.50 |
Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 3,095 |
Warrant One [Member] | |
Shares, warrants (in shares) | shares | 250,145 |
Weighted average remaining life, warrants (Year) | 4 years 204 days |
Warrant One [Member] | Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 0.10 |
Warrant One [Member] | Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | 8.36 |
Warrant Two [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 10 |
Shares, warrants (in shares) | shares | 1,674,088 |
Weighted average remaining life, warrants (Year) | 4 years 80 days |
Warrant Three [Member] | |
Shares, warrants (in shares) | shares | 237,970 |
Weighted average remaining life, warrants (Year) | 3 years 83 days |
Warrant Three [Member] | Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 10.71 |
Warrant Three [Member] | Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | 22.50 |
Warrant Four [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 1,237.50 |
Shares, warrants (in shares) | shares | 9,407 |
Weighted average remaining life, warrants (Year) | 244 days |
Stock Options One [Member] | |
Options, lower limit (in dollars per share) | $ 2.61 |
Options, upper limit (in dollars per share) | $ 6.50 |
Shares, options (in shares) | shares | 157,848 |
Weighted average remaining life, options (Year) | 9 years 193 days |
Stock Options Two [Member] | |
Options, lower limit (in dollars per share) | $ 7.324 |
Options, upper limit (in dollars per share) | $ 8.491 |
Shares, options (in shares) | shares | 285,826 |
Weighted average remaining life, options (Year) | 9 years 25 days |
Stock Options Three [Member] | |
Options, lower limit (in dollars per share) | $ 9 |
Options, upper limit (in dollars per share) | $ 14.70 |
Shares, options (in shares) | shares | 310,882 |
Weighted average remaining life, options (Year) | 7 years 182 days |
Stock Options Four [Member] | |
Options, lower limit (in dollars per share) | $ 21 |
Options, upper limit (in dollars per share) | $ 51.25 |
Shares, options (in shares) | shares | 11,045 |
Weighted average remaining life, options (Year) | 6 years 328 days |
Stock Options Five [Member] | |
Options, lower limit (in dollars per share) | $ 657.50 |
Options, upper limit (in dollars per share) | $ 5,962.50 |
Shares, options (in shares) | shares | 823 |
Weighted average remaining life, options (Year) | 4 years 142 days |
Note 5 - Stockholders' Equity_7
Note 5 - Stockholders' Equity, Stock Options and Warrants - Schedule of Listing of Stock Options and Warrants (Details) | Dec. 31, 2019$ / sharesshares |
Shares, options (in shares) | shares | 766,424 |
Shares, warrants (in shares) | shares | 2,171,610 |
Minimum [Member] | |
Price, options (in dollars per share) | $ 0.45 |
Warrant exercises, exercise price per share (in dollars per share) | 2.50 |
Maximum [Member] | |
Price, options (in dollars per share) | 5,962.50 |
Warrant exercises, exercise price per share (in dollars per share) | $ 3,095 |
Warrants 2015 [Member] | |
Shares, warrants (in shares) | shares | 9,407 |
Warrant exercises, exercise price per share (in dollars per share) | $ 1,237.50 |
Warrants 2016 [Member] | |
Shares, warrants (in shares) | shares | 25,233 |
Warrant exercises, exercise price per share (in dollars per share) | $ 10 |
Warrants 2017 [Member] | |
Shares, warrants (in shares) | shares | 108,295 |
Warrants 2017 [Member] | Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 10.71 |
Warrants 2017 [Member] | Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 22.50 |
Warrants 2018 [Member] | |
Shares, warrants (in shares) | shares | 219,076 |
Warrants 2018 [Member] | Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 8.36 |
Warrants 2018 [Member] | Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | 13.125 |
Warrants 2019 [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | 1,809,599 |
Warrants 2019 [Member] | Minimum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | 2.50 |
Warrants 2019 [Member] | Maximum [Member] | |
Warrant exercises, exercise price per share (in dollars per share) | $ 11.88 |
Stock Options 2011 [Member] | |
Shares, options (in shares) | shares | 17 |
Price, options (in dollars per share) | $ 2,812.50 |
Stock Options 2012 [Member] | |
Shares, options (in shares) | shares | 171 |
Stock Options 2012 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1,312.50 |
Stock Options 2012 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 1,500 |
Stock Options 2013 [Member] | |
Shares, options (in shares) | shares | 150 |
Stock Options 2013 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1,481.25 |
Stock Options 2013 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 5,962.50 |
Stock Options 2014 [Member] | |
Shares, options (in shares) | shares | 84 |
Stock Options 2014 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1,625 |
Stock Options 2014 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 4,312.50 |
Stock Options 2015 [Member] | |
Shares, options (in shares) | shares | 401 |
Stock Options 2015 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 657.50 |
Stock Options 2015 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 862.50 |
Stock Options 2016 [Member] | |
Shares, options (in shares) | shares | 9,617 |
Stock Options 2016 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 22.50 |
Stock Options 2016 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 51.25 |
Stock Options 2017 [Member] | |
Shares, options (in shares) | shares | 235,053 |
Stock Options 2017 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 10.10 |
Stock Options 2017 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 21 |
Stock Options 2018 [Member] | |
Shares, options (in shares) | shares | 97,636 |
Stock Options 2018 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 6.19 |
Stock Options 2018 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 13.50 |
Stock Options 2019 [Member] | |
Shares, options (in shares) | shares | 423,295 |
Stock Options 2019 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 2.61 |
Stock Options 2019 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 9 |
Note 6 - Notes Receivable (Deta
Note 6 - Notes Receivable (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2018 | |
Advances to De Lage Landen [Member] | |||
Payments to Acquire Notes Receivable | $ 997,500 | ||
CytoBioscience [Member] | Promissory Notes Receivable [Member] | |||
Financing Receivable, after Allowance for Credit Loss, Total | $ 1,112,524 | ||
Notes Receivable, Interest Rate, Stated Percentage | 8.00% | ||
Helomics Holding Corp. [Member] | |||
Financing Receivable, after Allowance for Credit Loss, Total | $ 2,140,013 | 1,165,013 | |
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% | 5.00% | |
Investment, Ownership Percent | 25.00% | ||
Payments to Acquire Notes Receivable | 975,000 | ||
Interest Receivable | 70,369 | $ 29,215 | |
Reduction to Loan due to Cumulative Equity Method Investment Losses Incurred | $ 1,190,967 |
Note 7 - Notes Payable (Details
Note 7 - Notes Payable (Details Textual) | Sep. 27, 2019 | Sep. 28, 2018USD ($)$ / sharesshares | Oct. 31, 2019USD ($) | Sep. 30, 2019USD ($)$ / sharesshares | Feb. 27, 2019USD ($)shares | Apr. 06, 2020USD ($) | Dec. 31, 2019USD ($)shares | Jul. 15, 2019USD ($)$ / sharesshares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2020 | May 21, 2019shares |
Debt Instrument, Face Amount | $ 5,146,226 | $ 5,146,226 | $ 2,667,727 | ||||||||||
Payments for Penalties | 202,294 | ||||||||||||
Bridge Loan | 4,795,800 | 4,795,800 | 1,634,914 | ||||||||||
Debt Instrument, Unamortized Discount, Total | 350,426 | 350,426 | 1,032,813 | ||||||||||
Short-term Debt, Total | 4,795,800 | 4,795,800 | 1,634,914 | ||||||||||
Gain (Loss) on Extinguishment of Debt, Total | (581,073) | ||||||||||||
Debt Discount Recognized for extension of Notes Payable. | $ 162,750 | ||||||||||||
Stock Issued During Period, Shares, Extension of Notes Payable | shares | 30,000 | ||||||||||||
Derivative Liability, Total | 50,989 | $ 50,989 | 272,745 | ||||||||||
Dr. Schwartz Notes Warrants [Member] | |||||||||||||
Derivative Liability, Total | $ 0 | 0 | 22,644 | ||||||||||
Other Expense [Member] | |||||||||||||
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | 221,756 | 372,263 | $ 50,989 | ||||||||||
Extension of Notes Payable [Member] | |||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | 581,073 | ||||||||||||
Chief Executive Officer [Member] | |||||||||||||
Proceeds from Related Party Debt | $ 1,920,000 | 370,000 | |||||||||||
Converison of Bridge Loan to Common Stock [Member] | |||||||||||||
Debt Conversion, Original Debt, Amount | $ 378,573 | ||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 103,415 | ||||||||||||
Bridge Loan Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 107,178 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 11.55 | ||||||||||||
Dr. Schwartz Notes Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 22,129 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 8.36 | ||||||||||||
Warrant for Promissory Notes [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 68,237 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 6.21 | ||||||||||||
Warrants Issued for Extension of Notes Payable [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 13,000 | 13,000 | |||||||||||
Warrants Issued for 2019 Agreement [Member] | Chief Executive Officer [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 5,753 | ||||||||||||
Convertible Promissory Note [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 1,989,104 | $ 1,989,104 | 2,297,727 | ||||||||||
Dr. Schwartz Note, One [Member] | |||||||||||||
Debt Instrument, Face Amount | 370,000 | ||||||||||||
Debt Instrument, Unamortized Discount, Total | 63,028 | ||||||||||||
DrSchwartz Notes [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 2,115,000 | $ 2,115,000 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 8.00% | |||||||||||
DrSchwartz Notes [Member] | Forecast [Member] | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||
Promissory Note [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 680,833 | $ 680,833 | |||||||||||
Promissory Note [Member] | Forecast [Member] | |||||||||||||
Proceeds from Short-term Debt, Total | $ 1,200,000 | ||||||||||||
Borrowings Against Equity Line [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 440,000 | $ 440,000 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 8.00% | |||||||||||
Payments for Penalties | $ 6,367 | ||||||||||||
Penalties Accrued | $ 35,468 | 35,468 | |||||||||||
Proceeds from Short-term Debt, Total | 478,159 | ||||||||||||
Repayments of Short-term Debt, Total | 118,527 | ||||||||||||
Short-term Debt, Total | 361,289 | 361,289 | |||||||||||
Bridge Notes [Member] | Convertible Promissory Note [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 2,297,727 | ||||||||||||
Proceeds from Notes Payable, Total | $ 2,000,000 | ||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 65,000 | 16,667 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | $ 344,659 | ||||||||||||
Payments for Penalties | 144,378 | ||||||||||||
Penalties Accrued | 497,276 | 497,276 | |||||||||||
Bridge Loan | 1,989,104 | 1,989,104 | |||||||||||
Debt Instrument, Unamortized Discount, Total | 133,839 | $ 133,839 | |||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 20 | ||||||||||||
Conversion Shares, Sum of Number of Conversion Shares Plus Inducement Shares | shares | 267,833 | ||||||||||||
Notes Assumed from Acquisiton [Member] | |||||||||||||
Repayments of Long-term Debt, Total | $ 303,333 | ||||||||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | $ 18,216 | ||||||||||||
Securities Purchase Agreements [Member] | Promissory Note [Member] | |||||||||||||
Debt Instrument, Face Amount | $ 847,500 | ||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 8,857 | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||
Payments for Penalties | $ 33,333 | ||||||||||||
Penalties Accrued | 136,167 | 136,167 | |||||||||||
Debt Instrument, Unamortized Discount, Total | 216,587 | 216,587 | |||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 20 | ||||||||||||
Proceeds from Short-term Debt, Total | $ 700,000 | ||||||||||||
Repayments of Short-term Debt, Total | 166,667 | ||||||||||||
Short-term Debt, Total | $ 680,833 | $ 680,833 |
Note 7 - Notes Payable - Notes
Note 7 - Notes Payable - Notes Payable (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Notes Payable, Gross | $ 5,146,226 | $ 2,667,727 |
Debt Instrument, Unamortized Discount, Total | 350,426 | 1,032,813 |
Notes Payable | 4,795,800 | 1,634,914 |
Convertible Promissory Note [Member] | ||
Notes Payable, Gross | 1,989,104 | 2,297,727 |
Promissory Note [Member] | ||
Notes Payable, Gross | 680,833 | |
Borrowings Against Equity Line, One [Member] | ||
Notes Payable, Gross | 18,563 | |
Borrowings Against Equity Line, Two [Member] | ||
Notes Payable, Gross | 147,783 | |
Borrowings Against Equity Line, Three [Member] | ||
Notes Payable, Gross | 194,943 | |
Dr. Schwartz Note, Two [Member] | ||
Notes Payable, Gross | $ 2,115,000 | $ 370,000 |
Note 7 - Notes Payable - Change
Note 7 - Notes Payable - Change in Fair Value of Derivative Liabilities (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Derivative liability balance at December 31, 2017 | $ 272,745 | |
Derivative instruments recognized | 69,722 | 645,008 |
Gain recognized to revalue derivative instrument at fair value | (221,756) | (372,263) |
Adjustments to derivative liability for warrants issued | (47,078) | |
Reduction of derivative liability | (22,644) | |
Derivative liability balance at December 31, 2018 | $ 50,989 | $ 272,745 |
Note 8 - Loss Per Share - Share
Note 8 - Loss Per Share - Shares Used in Basic and Diluted Loss Per Common Share Computations (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | ||
Net loss attributable to common shareholders per common share: basic and diluted calculation | $ (19,680,701) | $ (10,086,477) | |
Weighted average common shares outstanding-basic (in shares) | 2,870,132 | 1,281,629 | |
Effect of diluted stock options, warrants and preferred stock (1) (in shares) | [1] | ||
Weighted average common shares outstanding-diluted (in shares) | 2,870,132 | 1,281,629 | |
Loss per common share-basic and diluted (in dollars per share) | $ (6.86) | $ (7.87) | |
[1] | (1) The following is a summary of the number of underlying shares outstanding at the end of the respective periods that have been excluded from the diluted calculations because the effect on loss per common share would have been anti-dilutive: Year Ended December 31, 2019 2018 Options 766,424 366,928 Warrants 2,171,610 362,664 Convertible debt 82,751 329,409 Preferred stock: series B 7,925 7,925 Preferred stock: series D 350,000 - Preferred stock: series E 594,383 - |
Note 8 - Loss Per Share - Antid
Note 8 - Loss Per Share - Antidilutive Securities Excluded from the Diluted Calculations (Details) - shares | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities (in shares) | 766,424 | 366,928 |
Warrant [Member] | ||
Antidilutive Securities (in shares) | 2,171,610 | 362,664 |
Convertible Debt Securities [Member] | ||
Antidilutive Securities (in shares) | 82,751 | 329,409 |
Series B Convertible Preferred Stock [Member] | ||
Antidilutive Securities (in shares) | 7,925 | 7,925 |
Series D Convertible Preferred Stock [Member] | ||
Antidilutive Securities (in shares) | 350,000 | |
Series E Convertible Preferred Stock [Member] | ||
Antidilutive Securities (in shares) | 594,383 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2019 | 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 | ||
Unrecognized Tax Benefits, Ending Balance | 0 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | $ 0 | |
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | 291,476,788 | 40,444,754 | |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 264,379,011 | 34,529,255 | |
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | 27,097,777 | 5,915,499 | |
Operating Loss Carryforwards, Valuation Allowance, Total | 58,991,353 | 9,603,237 | |
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | 213,762,905 | 13,114,182 | |
Operating Loss Carryforwards, Valuation Allowance, Total | 21,414,302 | 1,416,758 | |
Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | 773,455 | 421,782 | |
Operating Loss Carryforwards, Valuation Allowance, Total | $ 236,746 | $ 132,722 |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation of Income Tax Benefit (Expense) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Statutory federal income tax benefit | $ 3,977,561 | $ 2,118,160 |
State tax benefit, net of federal taxes | 368,635 | 66,117 |
Foreign tax benefit | 104,050 | 132,931 |
Foreign operations tax rate differential | (73,869) | (94,373) |
State rate adjustment | (17,585) | 15,355 |
R&D tax credit | 51,143 | 22,532 |
Nondeductible/nontaxable items | (517,465) | (118,905) |
State NOL adjustment | (1,054,778) | 746,479 |
OID and derivatives | 141,908 | (159,037) |
Helomics purchase adjustment | 66,394,188 | |
Other | 115,896 | 47,868 |
Valuation allowance increase | (69,489,684) | (2,777,127) |
Total income tax benefit | $ 0 |
Note 9 - Income Taxes - Compone
Note 9 - Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Depreciation | $ 4,488 | |
Inventory | 6,891 | 6,991 |
Compensation accruals | 56,670 | 60,905 |
Accruals and reserves | 77,777 | |
Charitable contribution carryover | 3,740 | 3,972 |
Derivatives | 10,708 | 57,276 |
Related party investments | 657,633 | 481,652 |
Intangibles | 295,941 | 2,020 |
NSQO compensation | 1,589,430 | 1,019,139 |
NOL and credits | 78,417,618 | 9,655,388 |
Total deferred tax assets | 81,046,111 | 11,369,608 |
Original issue discount | (14,021) | (216,891) |
Total deferred tax liabilities | (403,710) | (216,891) |
Net deferred tax assets | 80,642,401 | 11,152,717 |
Less: valuation allowance | (80,642,401) | (11,152,717) |
Total |
Note 10 - Leases (Details Textu
Note 10 - Leases (Details Textual) | 12 Months Ended | |
Dec. 31, 2019USD ($)ft² | Dec. 31, 2018USD ($) | |
Operating Lease, Expense | $ | $ 431,170 | $ 69,013 |
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 | |
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 | 750 | |
Helomics' Offices [Member] | ||
Lessee, Operating Lease, Term of Contract | 3 years | |
Area of Real Estate Property | 17,417 | |
Helomics' Offices [Member] | Office Space [Member] | ||
Area of Real Estate Property | 1,000 | |
Helomics' Offices [Member] | Laboratory [Member] | ||
Area of Real Estate Property | 16,417 |
Note 10 - Leases - Lease Inform
Note 10 - Leases - Lease Information (Details) | Dec. 31, 2019 |
Weighted average remaining lease term – operating leases in years (Year) | 3 years 102 days |
Weighted average discount rate – operating leases | 8.00% |
Note 10 - Leases - Rent Obligat
Note 10 - Leases - Rent Obligation (Details) | Dec. 31, 2019USD ($) |
2020 | $ 476,468 |
2021 | 111,353 |
2022 | 43,154 |
2023 | 44,017 |
2024 | 44,897 |
2025 and thereafter | 112,271 |
Total lease payments | 832,160 |
Less interest | 102,415 |
Present value of lease liabilities | $ 729,745 |
Note 11 - Related Party Trans_2
Note 11 - Related Party Transactions (Details Textual) - USD ($) | May 01, 2019 | Apr. 01, 2019 |
Director [Member] | ||
Related Party Transaction, Monthly Cash Payment | $ 13,500 | $ 12,000 |
Note 12 - Retirement Savings _2
Note 12 - Retirement Savings Plans (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
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 | $ 110,714 | $ 51,647 |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 |
Note 13 - Subsequent Events (De
Note 13 - Subsequent Events (Details Textual) - USD ($) | Mar. 19, 2020 | Mar. 15, 2020 | Mar. 05, 2020 | Mar. 04, 2020 | Mar. 02, 2020 | Jul. 10, 2018 | Feb. 29, 2020 | Jan. 31, 2020 | Apr. 06, 2020 | Mar. 27, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 07, 2020 | Feb. 05, 2020 |
Stock Issued During Period, Value, Inducement to Equity Line | $ 450,000 | |||||||||||||
Debt Instrument, Face Amount | 5,146,226 | $ 2,667,727 | ||||||||||||
Debt Conversion, Converted Instrument, Amount | 378,573 | |||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (581,073) | |||||||||||||
Stock Issued During Period, Shares, Issued for Services | 25,000 | |||||||||||||
Stock Issued During Period, Shares, Extension of Notes Payable | 30,000 | |||||||||||||
CEO Promissory Note Exchange Agreement [Member] | ||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 310,000 | |||||||||||||
Notes Payable [Member] | ||||||||||||||
Debt Instrument, Increase for Extension | $ 300,000 | |||||||||||||
Promissory Note [Member] | ||||||||||||||
Debt Instrument, Face Amount | $ 680,833 | |||||||||||||
Promissory Note [Member] | Forecast [Member] | ||||||||||||||
Proceeds from Short-term Debt, Total | $ 1,200,000 | |||||||||||||
Subsequent Event [Member] | ||||||||||||||
Stock Issued During Period, Shares, Inducement to Equity Line | 943,000 | |||||||||||||
Stock Issued During Period, Value, Inducement to Equity Line | $ 1,869,899 | |||||||||||||
Stock Issued During Period, Shares, Extension of Notes Payable | 30,000 | |||||||||||||
Subsequent Event [Member] | Private Placement [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues | 260,000 | |||||||||||||
Sale of Stock, Price Per Share | $ 2.12 | |||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 3,498,612 | |||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ 3,127,112 | |||||||||||||
Subsequent Event [Member] | Chief Executive Officer [Member] | ||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 50,000 | |||||||||||||
Subsequent Event [Member] | Chief Executive Officer [Member] | Promissory Note Exchange Agreement [Member] | ||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 2,115,000 | |||||||||||||
Subsequent Event [Member] | Investor of Promissory Note [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues | 46,875 | |||||||||||||
Subsequent Event [Member] | InventaBio Tech and its subsidiary Soluble [Member] | ||||||||||||||
Stock Issued During Period, Shares, Purchase of Assets | 125,000 | |||||||||||||
Subsequent Event [Member] | Vendor [Member] | ||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 150,000 | |||||||||||||
Subsequent Event [Member] | Warrants Issued With Promissory Note, One [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 94,631 | |||||||||||||
Subsequent Event [Member] | Warrants Issued With Promissory Note, Two [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 92,700 | |||||||||||||
Subsequent Event [Member] | Warrants Issued With Promissory Note [Member] | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.992 | |||||||||||||
Subsequent Event [Member] | Warrants issued with Private Placement, One [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||||||||||||
Warrants and Rights Outstanding, Term | 5 years 182 days | |||||||||||||
Subsequent Event [Member] | Warrants issued with Private Placement, Two [Member] | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.88 | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||||||||||||
Warrants and Rights Outstanding, Term | 2 years | |||||||||||||
Subsequent Event [Member] | Prefunded Warrant [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,390,166 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.0001 | |||||||||||||
Price of Warrant | $ 2.12 | |||||||||||||
Subsequent Event [Member] | Loans Payable [Member] | ||||||||||||||
Debt Instrument, Face Amount | 1,098,684 | |||||||||||||
Proceeds from Short-term Debt, Total | 1,020,000 | |||||||||||||
Repayments of Short-term Debt, Total | $ 657,105 | |||||||||||||
Subsequent Event [Member] | Promissory Note [Member] | ||||||||||||||
Debt Instrument, Face Amount | $ 1,450,000 | |||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||||||
Subsequent Event [Member] | Promissory Note [Member] | Chief Executive Officer [Member] | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||||||||||
Subsequent Event [Member] | Promissory Note [Member] | Promissory Note, One [Member] | ||||||||||||||
Debt Instrument, Face Amount | $ 490,000 | |||||||||||||
Proceeds from Short-term Debt, Total | $ 400,000 | |||||||||||||
Subsequent Event [Member] | Promissory Note [Member] | Promissory Note, Two [Member] | ||||||||||||||
Debt Instrument, Face Amount | $ 480,000 | $ 480,000 | ||||||||||||
Proceeds from Short-term Debt, Total | $ 400,000 |