Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2015 | |
Document Information [Line Items] | |
Entity Registrant Name | Skyline Medical Inc. |
Entity Central Index Key | 1,446,159 |
Entity Filer Category | Smaller Reporting Company |
Document Type | S1 |
Amendment Flag | true |
Amendment Description | Amendment No. 8 |
Document Period End Date | Jun. 30, 2015 |
BALANCE SHEETS
BALANCE SHEETS - Equity Component [Domain] - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Current Assets: | |||
Cash | $ 44,103 | $ 16,384 | $ 101,953 |
Accounts Receivable | 15,855 | 57,549 | 97,245 |
Inventories | 257,668 | 367,367 | 122,175 |
Prepaid Expense and other assets | 202,591 | 190,015 | 60,588 |
Total Current Assets | 520,217 | 631,315 | 381,961 |
Fixed Assets, net | 147,243 | 196,479 | 158,110 |
Intangibles, net | 77,995 | 73,183 | 53,355 |
Total Assets | 745,455 | 900,977 | 593,426 |
Current Liabilities: | |||
Accounts Payable | 2,474,186 | 2,194,518 | 1,062,108 |
Accrued Expenses | 3,474,043 | 3,066,379 | 2,057,957 |
Short-term notes payable net of discounts of $0, $194,097, and $0 (See Note 4) | 933,074 | 937,424 | 280,000 |
Deferred Revenue | 8,375 | 5,000 | 69,000 |
Total Current Liabilities | $ 6,889,678 | 6,203,321 | 3,469,065 |
Accrued Expenses | $ 213,883 | 331,216 | |
Liability for equity-linked financial instruments (See Note 8) | 11,599 | ||
Total Liabilities | $ 6,889,678 | $ 6,417,204 | $ 3,811,880 |
Commitments and Contingencies | |||
Stockholders' Deficit: | |||
Series A Convertible Preferred Stock, $.01 par value, $100 Stated Value, 20,000,000, 10,000,000, and 10,000,000 authorized, 20,550 outstanding | $ 206 | $ 206 | |
Common Stock, $.01 par value, 100,000,000, 10,667,667, and 10,667,667 authorized, 3,312,863, 3,092,766, and 2,932,501 outstanding | 33,128 | 30,927 | $ 29,325 |
Additional paid-in capital | 30,935,472 | 30,093,745 | 25,449,636 |
Accumulated Deficit | (37,113,029) | (35,641,105) | (28,697,415) |
Total Stockholders' Deficit | (6,144,223) | (5,516,227) | (3,218,454) |
Total Liabilities and Stockholders' Deficit | $ 745,455 | $ 900,977 | $ 593,426 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - Equity Component [Domain] - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Discount on short term note payable (in dollars) | $ 0 | $ 194,097 | $ 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 100,000,000 | 10,666,667 | 10,666,667 |
Common stock, shares outstanding | 3,312,863 | 3,092,766 | 2,932,501 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Preferred stock, stated value (in dollars per share) | $ 100 | $ 100 | $ 100 |
Preferred stock, shares authorized | 20,000,000 | 10,000,000 | 20,000,000 |
Preferred stock, shares outstanding | 20,550 | 20,550 | 20,550 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
STATEMENTS OF OPERATIONS [Abstract] | ||||||
Revenue | $ 234,012 | $ 318,293 | $ 385,286 | $ 388,513 | $ 951,559 | $ 468,125 |
Cost of goods sold | 83,566 | 98,365 | 179,534 | 129,448 | 385,323 | 189,707 |
Gross Margin | 150,446 | 219,928 | 205,752 | 259,065 | 566,236 | 278,418 |
General and administrative expense | 856,219 | 1,330,222 | 728,424 | 2,509,504 | 4,882,549 | 7,530,037 |
Operations expense | 151,313 | 291,584 | 172,630 | 556,859 | 972,830 | 1,096,969 |
Sales and marketing expense | 139,026 | 319,303 | 372,983 | 524,223 | 1,178,305 | 578,793 |
Interest expense | $ 189,215 | $ 14,773 | $ 342,837 | 32,897 | 377,719 | 636,503 |
Loss (gain) on valuation of equity-linked financial instruments | (11,469) | (11,599) | (157,580) | |||
Total expense | $ 1,335,773 | $ 1,955,882 | $ 1,616,874 | 3,612,014 | 7,399,804 | 9,684,722 |
Net loss available to common shareholders | $ (1,185,327) | $ (1,735,954) | $ (1,411,122) | $ (3,352,949) | $ (6,833,568) | $ (9,406,304) |
Loss per common share basic and diluted (in dollars per share) | $ (0.36) | $ (0.58) | $ (0.44) | $ (1.13) | $ (2.29) | $ (4.64) |
Weighted average shares used in computation - basic and diluted (in shares) | 3,263,356 | 2,968,279 | 3,182,706 | 2,958,965 | 2,990,471 | 2,026,115 |
STATEMENT OF STOCKHOLDERS' DEFI
STATEMENT OF STOCKHOLDERS' DEFICIT - USD ($) | Total | Note convertible at $6.68 per share [Member] | Note convertible at $6.68 per share [Member] | Note convertible at $5.85 per share [Member] | Note convertible at $5.03 per share [Member] | Note convertible at $5.14 per share [Member] | Note convertible at $5.00 per share [Member] | Note convertible at $5.26 per share [Member] | Note convertible at $5.26 per share [Member] | Note convertible at $5.95 per share [Member] | Note convertible at $5.05 per share [Member] | Note convertible at $2.90 per share [Member] | Note convertible at $2.96 per share [Member] | Note convertible at $2.91 per share [Member] | Note convertible at $2.77 per share [Member] | Note convertible at $2.25 per share [Member] | Note convertible at $2.00 per share [Member] | Note convertible at $2.27283 per share [Member] | Note convertible at $2.0179 per share [Member] | Note convertible at $2.00 per share [Member] | Note convertible at $1.92417 per share [Member] | Note convertible at $1.8578 per share [Member] | Shares issued at $20.63 per share [Member] | Shares issued at $18.75 per share [Member] | Shares issued at $19.50 per share [Member] | Shares issued at $11.25 per share [Member] | Shares issued at $18.75 per share [Member] | Shares issued at $19.50 per share [Member] | Shares issued at $19.50 per share [Member] | Shares issued at $19.50 per share [Member] | Shares issued at $9.75 per share [Member] | Shares issued at $9.75 per share [Member] | Shares issued at $9.75 per share [Member] | Option exercisable at $1.25 per share [Member] | Option exercisable at $5.25 per share [Member] | Option exercisable at $5.25 per share [Member] | Warrant exercisable at $15.00 per share [Member] | Warrant exercisable at $12.75 per share [Member] | Warrant exercisable at $.75 per share [Member] | Warrant exercisable at $13.50 per share [Member] | Warrant exercisable at $7.50 per share [Member] | Warrant exercisable at $5.63 per share [Member] | Warrant exercisable at $12.75 per share [Member] | Warrant exercisable at $11.25 per share [Member] | Warrant exercisable at $13.50 per share [Member] | Warrant exercisable at $9.75 per share [Member] | Warrant exercisable at $5.63 per share [Member] | Preferred Stock [Member] | Common Stock [Member] | Common Stock [Member]Note convertible at $6.68 per share [Member] | Common Stock [Member]Note convertible at $6.68 per share [Member] | Common Stock [Member]Note convertible at $5.85 per share [Member] | Common Stock [Member]Note convertible at $5.03 per share [Member] | Common Stock [Member]Note convertible at $5.14 per share [Member] | Common Stock [Member]Note convertible at $5.00 per share [Member] | Common Stock [Member]Note convertible at $5.26 per share [Member] | Common Stock [Member]Note convertible at $5.26 per share [Member] | Common Stock [Member]Note convertible at $5.95 per share [Member] | Common Stock [Member]Note convertible at $5.05 per share [Member] | Common Stock [Member]Note convertible at $2.90 per share [Member] | Common Stock [Member]Note convertible at $2.96 per share [Member] | Common Stock [Member]Note convertible at $2.91 per share [Member] | Common Stock [Member]Note convertible at $2.77 per share [Member] | Common Stock [Member]Note convertible at $2.25 per share [Member] | Common Stock [Member]Note convertible at $2.00 per share [Member] | Common Stock [Member]Note convertible at $2.27283 per share [Member] | Common Stock [Member]Note convertible at $2.0179 per share [Member] | Common Stock [Member]Note convertible at $2.00 per share [Member] | Common Stock [Member]Note convertible at $1.92417 per share [Member] | Common Stock [Member]Note convertible at $1.8578 per share [Member] | Common Stock [Member]Shares issued at $20.63 per share [Member] | Common Stock [Member]Shares issued at $18.75 per share [Member] | Common Stock [Member]Shares issued at $19.50 per share [Member] | Common Stock [Member]Shares issued at $11.25 per share [Member] | Common Stock [Member]Shares issued at $18.75 per share [Member] | Common Stock [Member]Shares issued at $19.50 per share [Member] | Common Stock [Member]Shares issued at $19.50 per share [Member] | Common Stock [Member]Shares issued at $19.50 per share [Member] | Common Stock [Member]Shares issued at $9.75 per share [Member] | Common Stock [Member]Shares issued at $9.75 per share [Member] | Common Stock [Member]Shares issued at $9.75 per share [Member] | Common Stock [Member]Option exercisable at $1.25 per share [Member] | Common Stock [Member]Option exercisable at $5.25 per share [Member] | Common Stock [Member]Option exercisable at $5.25 per share [Member] | Common Stock [Member]Warrant exercisable at $15.00 per share [Member] | Common Stock [Member]Warrant exercisable at $12.75 per share [Member] | Common Stock [Member]Warrant exercisable at $.75 per share [Member] | Common Stock [Member]Warrant exercisable at $13.50 per share [Member] | Common Stock [Member]Warrant exercisable at $7.50 per share [Member] | Common Stock [Member]Warrant exercisable at $5.63 per share [Member] | Common Stock [Member]Warrant exercisable at $12.75 per share [Member] | Common Stock [Member]Warrant exercisable at $11.25 per share [Member] | Common Stock [Member]Warrant exercisable at $13.50 per share [Member] | Common Stock [Member]Warrant exercisable at $9.75 per share [Member] | Common Stock [Member]Warrant exercisable at $5.63 per share [Member] | Additional Paid-in Capital [Member] | Additional Paid-in Capital [Member]Note convertible at $6.68 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $6.68 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $5.85 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $5.03 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $5.14 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $5.00 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $5.26 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $5.26 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $5.95 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $5.05 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.90 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.96 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.91 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.77 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.25 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.00 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.27283 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.0179 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $2.00 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $1.92417 per share [Member] | Additional Paid-in Capital [Member]Note convertible at $1.8578 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $20.63 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $18.75 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $19.50 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $11.25 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $18.75 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $19.50 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $19.50 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $19.50 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $9.75 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $9.75 per share [Member] | Additional Paid-in Capital [Member]Shares issued at $9.75 per share [Member] | Additional Paid-in Capital [Member]Option exercisable at $1.25 per share [Member] | Additional Paid-in Capital [Member]Option exercisable at $5.25 per share [Member] | Additional Paid-in Capital [Member]Option exercisable at $5.25 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $15.00 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $12.75 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $.75 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $13.50 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $7.50 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $5.63 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $12.75 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $11.25 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $13.50 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $9.75 per share [Member] | Additional Paid-in Capital [Member]Warrant exercisable at $5.63 per share [Member] | Deficit [Member] | Deficit [Member]Shares issued at $19.50 per share [Member] | Deficit [Member]Shares issued at $19.50 per share [Member] | Deficit [Member]Shares issued at $19.50 per share [Member] | Deficit [Member]Shares issued at $19.50 per share [Member] | Deficit [Member]Shares issued at $9.75 per share [Member] | Deficit [Member]Shares issued at $9.75 per share [Member] | Deficit [Member]Shares issued at $9.75 per share [Member] |
Balance at Dec. 31, 2012 | $ (3,303,203) | $ 13,900 | $ 15,974,008 | $ (19,291,111) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2012 | 1,389,963 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to debtors as compensation at $11.25 per share | 43,521 | $ 39 | 43,482 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to debtors as compensation at $11.25 per share (in shares) | 3,869 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under PPM to five investors at $5.25 per share | 500,000 | $ 952 | 499,048 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued under PPM to five investors at $5.25 per share (in shares) | 95,238 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to an escrow account underlying a debt agreement | 10,000 | $ 133 | 9,867 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to an escrow account underlying a debt agreement (in shares) | 13,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to debtors as compensation at $11.25 per share | 34,550 | $ 31 | 34,519 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to debtors as compensation at $11.25 per share (in shares) | 3,071 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to an institutional investor at $5.25 per share | 500,000 | $ 952 | 499,048 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to an institutional investor at $5.25 per share (in shares) | 95,238 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of shares per an agreement with a former officer | 40,480 | 40,480 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to consultant as compensation at $5.03 per share | 16,750 | $ 33 | 16,717 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to consultant as compensation at $5.03 per share (in shares) | 3,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of Equity instruments issued with debt | 392,556 | 392,556 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to former consultant exercising options at $.75 per share | 2,000 | $ 27 | 1,973 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to former consultant exercising options at $.75 per share (in shares) | 2,667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to former CEO exercising options at $.01 per share. | 3,333 | $ 44 | 3,289 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to former CEO exercising options at $.01 per share. (in shares) | 4,444 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon conversion of four notes payable at $11.25 per share | 156,243 | $ 139 | 156,104 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued upon conversion of four notes payable at $11.25 per share (in shares) | 13,888 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for interest to the four notes payable at $11.25 per share | 11,170 | $ 10 | 11,160 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for interest to the four notes payable at $11.25 per share (in shares) | 993 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless exercise of warrants at $9.00 per share | 2,778 | $ 37 | 2,741 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless exercise of warrants at $9.00 per share (in shares) | 3,704 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless exercise of warrants at $12.00 per share | 1,633 | $ 22 | 1,611 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless exercise of warrants at $12.00 per share (in shares) | 2,178 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless exercise of warrants at $11.25 per share | 6,327 | $ 84 | 6,243 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless exercise of warrants at $11.25 per share (in shares) | 8,436 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless exercise of warrants at $15.00 per share | 2,618 | $ 35 | 2,583 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless exercise of warrants at $15.00 per share (in shares) | 3,491 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 24 warrant holders exercised at a reduced price for $7.50 per share | 1,044,490 | $ 1,393 | 1,043,097 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 24 warrant holders exercised at a reduced price for $7.50 per share (in shares) | 139,265 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 4 PPM investors converting notes at $9.00 per share | 316,504 | $ 352 | 316,152 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 4 PPM investors converting notes at $9.00 per share (in shares) | 35,167 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 10 PPM investors converting notes at $13.50 per share | 1,020,200 | $ 721 | 1,019,479 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 10 PPM investors converting notes at $13.50 per share (in shares) | 72,072 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to consultant as compensation at $28.50 per share | 57,000 | $ 20 | 56,980 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to consultant as compensation at $28.50 per share (in shares) | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for two note conversions at $1.05 per share | 994,928 | $ 9,476 | 985,452 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for two note conversions at $1.05 per share (in shares) | 947,551 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for warrant exercise at $11.25 per share | 160,715 | $ 143 | 160,572 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for warrant exercise at $11.25 per share (in shares) | 14,286 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a cashless exercise of warrants at $7.50 per share | 30,244 | $ 403 | 29,841 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a cashless exercise of warrants at $7.50 per share (in shares) | 40,325 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to an investor for a cashless exercise of warrants at $12.75 per share | 2,044 | $ 27 | 2,017 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to an investor for a cashless exercise of warrants at $12.75 per share (in shares) | 2,724 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a cashless exercise of warrants at $5.63 per share | 5,447 | $ 73 | 5,374 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a cashless exercise of warrants at $5.63 per share (in shares) | 7,263 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to former Board Directors as compensation at $24.38 per share | 100,000 | $ 13 | 99,987 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to former Board Directors as compensation at $24.38 per share (in shares) | 1,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduced warrant exercise compensation expense | 2,140,946 | 2,140,946 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options issued as part of employee bonus | 147,500 | 147,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to one investor for cashless warrant exercised at $9.00 per share | 2,778 | $ 37 | 2,741 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to one investor for cashless warrant exercised at $9.00 per share (in shares) | 3,704 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $9.75 per share | 1,597 | $ 21 | 1,576 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $9.75 per share (in shares) | 2,130 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for interest on two note conversions at $13.50 per share | 7,365 | $ 5 | 7,360 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for interest on two note conversions at $13.50 per share (in shares) | 546 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in settlement with a former noteholder at $20.25 per share | 102,060 | $ 50 | 102,010 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in settlement with a former noteholder at $20.25 per share (in shares) | 5,040 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a stock option exercise at $4.88 per share | 650 | $ 1 | 649 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a stock option exercise at $4.88 per share (in shares) | 133 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to one warrant holder executed at a reduced price of $9.38 per share | 125,000 | $ 133 | 124,867 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to one warrant holder executed at a reduced price of $9.38 per share (in shares) | 13,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for option exercise at $5.25 per share | 1,190 | $ 2 | 1,188 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for option exercise at $5.25 per share (in shares) | 227 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $5.63 per share | 1,167 | $ 16 | 1,151 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $5.63 per share (in shares) | 1,556 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting expense | 1,505,270 | $ 1,505,270 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (9,406,304) | (9,406,304) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2013 | (3,218,454) | $ 29,325 | $ 25,449,636 | (28,697,415) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2013 | 2,932,501 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for warrant exercise | $ 1,296 | $ 2,493 | $ 1,630 | $ 36,000 | $ 3,605 | $ 2,333 | $ 224 | $ 2,794 | $ 1,058 | $ 62,500 | $ 17 | $ 33 | $ 22 | $ 27 | $ 48 | $ 31 | $ 3 | $ 37 | $ 14 | $ 111 | $ 1,279 | $ 2,460 | $ 1,608 | $ 35,973 | $ 3,557 | $ 2,302 | $ 221 | $ 2,757 | $ 1,044 | $ 62,389 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for warrant exercise, shares | 1,728 | 3,323 | 2,174 | 2,667 | 4,807 | 3,112 | 299 | 3,725 | 1,410 | 11,111 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for option exercise | $ 5,430 | $ 1,400 | $ 1,750 | $ 43 | $ 3 | $ 3 | $ 5,387 | $ 1,397 | $ 1,747 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for option exercise, shares | 4,336 | 267 | 333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued as Investor Relations compensation | $ 41,250 | $ 25,000 | $ 24,000 | $ 25,000 | $ 20 | $ 13 | $ 21 | $ 13 | $ 41,230 | $ 24,987 | $ 23,979 | $ 24,987 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued as Investor Relations compensation, shares | 2,000 | 1,333 | 2,133 | 1,333 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of reduction in escrow account per settlement agreement. | (3,333) | $ (44) | (3,289) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in escrow account per settlement agreement, shares | (4,444) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock | $ (1) | $ 52,500 | $ 10 | $ 16 | $ 16 | $ 16 | $ 78 | $ 18,909 | $ 30,384 | $ 30,385 | $ 30,385 | $ 52,422 | $ (18,919) | $ (30,400) | $ (30,401) | $ (30,402) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock, shares | 972 | 1,561 | 1,561 | 1,561 | 7,778 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 705,434 | 705,434 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options issued as part of employee bonus | 694,500 | 694,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Preferred stock | 2,055,001 | $ 206 | 2,054,795 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of equity instruments issued with debt | $ 313,175 | 313,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion | $ 20,000 | $ 20,000 | $ 20,000 | $ 20,000 | $ 20,000 | $ 20,000 | $ 20,000 | $ 30,000 | $ 30,000 | $ 280,616 | $ 30 | $ 30 | $ 34 | $ 38 | $ 39 | $ 40 | $ 38 | $ 57 | $ 50 | $ 556 | $ 19,970 | $ 19,970 | $ 19,966 | $ 19,962 | $ 19,961 | $ 19,960 | $ 19,962 | $ 29,943 | $ 29,950 | $ 280,060 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion, shares | 1,559 | 3,018 | 3,019 | 3,435 | 3,894 | 3,894 | 3,997 | 3,804 | 5,706 | 5,044 | 55,568 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued into an escrow account per settlement agreement | $ 137 | $ 137 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued into an escrow account per settlement agreement, shares | 13,700 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares adjusted for rounding per reverse stock split | 2 | $ 1 | 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares adjusted for rounding per reverse stock split, shares | 106 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of Equity instruments issued with debt | 313,175 | 313,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $15.00 per share | 1,296 | $ 17 | 1,279 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $15.00 per share (in shares) | 1,728 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for option exercise at $1.25 per share | 5,430 | $ 43 | 5,387 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for option exercise at $1.25 per share (in shares) | 4,336 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued at $20.63 per share as Investor Relations compensation | 41,250 | $ 20 | 41,230 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued at $20.63 per share as Investor Relations compensation (in shares) | 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $12.75 per share | 2,493 | $ 33 | 2,460 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $12.75 per share (in shares) | 3,323 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for an option exercise at $5.25 per share | 1,400 | $ 3 | 1,397 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for an option exercise at $5.25 per share (in shares) | 267 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $.75 per share | 1,630 | $ 22 | 1,608 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $.75 per share (in shares) | 2,174 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for warrant exercise at $13.50 per share | 36,000 | $ 27 | 35,973 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for warrant exercise at $13.50 per share (in shares) | 2,667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued at $18.75 per share as Investor Relations compensation | 25,000 | $ 13 | 24,987 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued at $18.75 per share as Investor Relations compensation (in shares) | 1,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in escrow account per settlement agreement | (3,333) | $ (44) | (3,289) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in escrow account per settlement agreement (in shares) | (4,444) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $7.50 per share | 3,605 | $ 48 | 3,557 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $7.50 per share (in shares) | 4,807 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $5.63 per share | 2,333 | $ 31 | 2,302 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $5.63 per share (in shares) | 3,112 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $12.75 per share | $ 224 | $ 3 | 221 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $12.75 per share (in shares) | 299 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares at $19.50 per share | $ 10 | 18,909 | (18,919) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares at $19.50 per share (in shares) | 972 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting expense | $ 705,434 | 705,434 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Options issued as part of employee bonus | 694,500 | 694,500 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for combined cashless and cash warrant exercise @ $11.25 per share. | 52,500 | $ 78 | 52,422 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for combined cashless and cash warrant exercise @ $11.25 per share. (in shares) | 7,778 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Preferred stock | 2,055,001 | 206 | 2,054,795 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to Investor Relations consultant exercisable at $11.25 per share | 24,000 | $ 21 | 23,979 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to Investor Relations consultant exercisable at $11.25 per share (in shares) | 2,133 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to Investor Relations consultant exercisable at $18.75 per share | 25,000 | $ 13 | 24,987 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to Investor Relations consultant exercisable at $18.75 per share (in shares) | 1,333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $13.50 per share | $ 2,794 | $ 37 | 2,757 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $13.50 per share (in shares) | 3,725 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares at $19.50 per share | $ 16 | 30,384 | (30,400) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares at $19.50 per share (in shares) | 1,561 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $9.75 per share | $ 1,058 | $ 14 | 1,044 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for cashless warrant exercise at $9.75 per share (in shares) | 1,410 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a cash warrant exercise at $5.63 per share | 62,500 | $ 111 | 62,389 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a cash warrant exercise at $5.63 per share (in shares) | 11,111 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for an option exercise at $5.25 per share | 1,750 | $ 3 | 1,747 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for an option exercise at $5.25 per share (in shares) | 333 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $6.68 per share | 20,000 | $ 30 | 19,970 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $6.68 per share (in shares) | 3,018 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $6.68 per share | 20,000 | $ 30 | 19,970 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $6.68 per share (in shares) | 3,019 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.85 per share | 20,000 | $ 34 | 19,966 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.85 per share (in shares) | 3,435 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.03 per share | $ 20,000 | $ 38 | 19,962 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.03 per share (in shares) | 3,894 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares at $19.50 per share | $ 16 | 30,385 | (30,401) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares at $19.50 per share (in shares) | 1,561 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.14 per share | $ 20,000 | $ 39 | 19,961 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.14 per share (in shares) | 3,894 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.00 per share | 20,000 | $ 40 | 19,960 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.00 per share (in shares) | 3,997 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.26 per share | 20,000 | $ 38 | 19,962 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.26 per share (in shares) | 3,804 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.26 per share | 30,000 | $ 57 | 29,943 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.26 per share (in shares) | 5,706 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.95 per share | 30,000 | $ 50 | $ 29,950 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.95 per share (in shares) | 5,044 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued into an escrow account per settlement agreement | 137 | $ 137 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued into an escrow account per settlement agreement (in shares) | 13,700 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.05 per share | 280,616 | $ 556 | $ 280,060 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion at $5.05 per share (in shares) | 55,568 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares at $19.50 per share | (1) | $ 16 | 30,385 | $ (30,402) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock Dividends as converted to common shares at $19.50 per share (in shares) | 1,561 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares adjusted for rounding per reverse stock split | 2 | $ 1 | $ 1 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares adjusted for rounding per reverse stock split (in shares) | 106 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (6,833,568) | $ (6,833,568) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2014 | (5,516,227) | 206 | $ 30,927 | $ 30,093,745 | (35,641,105) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2014 | 3,092,766 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of reduction in escrow account per settlement agreement. | (3,333) | $ (44) | (3,289) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Reduction in escrow account per settlement agreement, shares | (4,444) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock | $ (1) | $ 1 | $ 31 | $ 31 | $ 31 | $ (31) | $ 30,369 | $ 30,371 | $ (30,401) | $ (30,401) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued to 16 shareholders of Series A Convertible Preferred Stock, shares | 3,122 | 3,121 | 3,121 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting Expense | 302,981 | $ 302,981 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Preferred stock | 2,055,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion | $ 10,000 | $ 20,000 | $ 30,000 | $ 33,478 | $ 35,000 | $ 40,000 | $ 200,000 | $ 30,000 | $ 30,000 | $ 25,000 | $ 20,000 | $ 34 | $ 68 | $ 103 | $ 120 | $ 156 | $ 200 | $ 880 | $ 149 | $ 150 | $ 130 | $ 162 | $ 9,966 | $ 19,932 | $ 29,897 | $ 33,358 | $ 34,844 | $ 39,800 | $ 199,120 | $ 29,851 | $ 29,850 | $ 24,870 | $ 29,838 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued for a note conversion, shares | 3,447 | 6,762 | 10,313 | 12,098 | 15,552 | 20,000 | 87,997 | 14,867 | 15,000 | 12,993 | 16,148 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net loss | (1,411,122) | (1,411,122) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Jun. 30, 2015 | $ (6,144,223) | $ 206 | $ 33,128 | $ 30,935,472 | $ (37,113,029) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Jun. 30, 2015 | 3,312,863 |
STATEMENT OF STOCKHOLDERS' DEF6
STATEMENT OF STOCKHOLDERS' DEFICIT (Parenthetical) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015item$ / shares | Dec. 31, 2014item$ / shares | Dec. 31, 2013$ / shares | |
Issuance Of Common Stock To Debtors Compensation One | $ 11.25 | ||
Shares issued under PPM to five investors | 5.25 | ||
Issuance Of Common Stock To Debtors Compensation Two | 11.25 | ||
Shares issued to an institutional investor at per share | 5.25 | ||
Stock Issued to Consultant as compensation one | 5.03 | ||
Common stock issued to former consultant exercising option, Par value | 0.75 | ||
Common stock issued to former CEO exercising option, par value | 0.01 | ||
Shares issued upon conversion of four notes payable, par value | 11.25 | ||
Shares issued for interest to the four notes payable, par value | 11.25 | ||
Shares Issued For Cashless Exercise Of Warrants Par Value One | $ 15 | 9 | |
Shares Issued For Cashless Exercise Of Warrants Par Value Two | 12.75 | 12 | |
Shares Issued For Cashless Exercise Of Warrants Par Value Three | 0.75 | 11.25 | |
Shares Issued For Cashless Exercise Of Warrants Par Value Four | 7.50 | 15 | |
Shares Issued To Twenty Four Warrant Holders Exercised At Reduced Par Value | 7.50 | ||
Shares Issued To Four PPM Investors Converting Notes Par Value | 9 | ||
Shares Issued To Ten PPM Investors Converting Notes Par Value | 13.50 | ||
Shares Issued To Consultant As Compensation Par Value | 28.50 | ||
Shares Issued For Two Note Conversions Par Value | 1.05 | ||
Shares Issued For Exercise Of Warrants Par Value | 13.50 | 11.25 | |
Shares Issued To Investor For Cashless Exercise Of Warrants Par Value | 12.75 | ||
Shares Issued To One Investor For Cashless Exercise Of Warrants Par Value One | 9 | ||
Shares Issued To Former Board Directors As Compensation Par Value | 24.38 | ||
Shares Issued For Cashless Exercise Of Warrants Par Value Five | 5.63 | 7.50 | |
Shares Issued For Interest On Conversion Of Two Note Conversions Par Value | 13.50 | ||
Shares Issued For Cashless Exercise Of Warrants Par Value Six | 12.75 | 5.63 | |
Shares Issued In Settlement With Former Noteholder Par Value | 20.25 | ||
Shares Issued To Option Holder Par Value One | 1.25 | 4.88 | |
Shares Issued For Cashless Exercise Of Warrants Par Value Seven | 13.50 | 9.75 | |
Shares Issued To One Warrant Holder Exercised At Reduced Par Value | 9.38 | ||
Shares Issued For Cashless Exercise Of Warrants Par Value Eight | 9.75 | 5.63 | |
Shares Issued To Option Holder Par Value Two | 5.25 | $ 5.25 | |
Par Value Of Common Stock Issued For Investor Relations Compensation One | 20.63 | ||
Shares Issued To Sixteen Shareholders Of Series A Convertible Preferred Stock Dividends Payable In Common Shares Par Value | 19.50 | ||
Shares Issued For Cashless And Cash Exercise Of Warrants Par Value | 11.25 | ||
Par Value Of Common Stock Issued For Investor Relations Compensation Two | 18.75 | ||
Stock Issued To Investor Relations Consultants Exercise Price Two | 18.75 | ||
Shares Issued To Sixteen Shareholders Of Series Convertible Preferred Stock Dividends Payable In Common Shares Par Value One | 19.50 | ||
Shares Issued For Cash Exercise Of Warrants Par Value | 5.63 | ||
Shares Issued To Option Holder Par Value Three | 5.25 | ||
Shares Issued For Note Conversion Par Value One | 6.68 | ||
Shares Issued For Note Conversion Par Value Two | 6.68 | ||
Shares Issued For Note Conversion Par Value Three | 5.85 | ||
Shares Issued For Note Conversion Par Value Four | 5.03 | ||
Shares Issued To Sixteen Shareholders Of Series Convertible Preferred Stock Dividends Payable In Common Shares Par Value Two | 19.50 | ||
Shares Issued For Note Conversion Par Value Five | 5.14 | ||
Shares Issued For Note Conversion Par Value Six | 5 | ||
Shares Issued For Note Conversion Par Value Seven | 5.26 | ||
Shares Issued For Note Conversion Par Value Eight | 5.26 | ||
Shares Issued For Note Conversion Par Value Nine | 5.95 | ||
Shares Issued For Note Conversion Par Value Ten | 5.05 | ||
Shares Issued To Sixteen Shareholders Of Series Convertible Preferred Stock Dividends Payable In Common Shares Par Value Three | 19.50 | ||
Note convertible at $6.68 per share [Member] | |||
Shares issued for a note conversion, conversion price | 6.68 | ||
Note convertible at $6.68 per share [Member] | |||
Shares issued for a note conversion, conversion price | 6.68 | ||
Note convertible at $5.85 per share [Member] | |||
Shares issued for a note conversion, conversion price | 5.85 | ||
Note convertible at $5.03 per share [Member] | |||
Shares issued for a note conversion, conversion price | 5.03 | ||
Note convertible at $5.14 per share [Member] | |||
Shares issued for a note conversion, conversion price | 5.14 | ||
Note convertible at $5.00 per share [Member] | |||
Shares issued for a note conversion, conversion price | 5 | ||
Note convertible at $5.26 per share [Member] | |||
Shares issued for a note conversion, conversion price | 5.26 | ||
Note convertible at $5.26 per share [Member] | |||
Shares issued for a note conversion, conversion price | 5.26 | ||
Note convertible at $5.95 per share [Member] | |||
Shares issued for a note conversion, conversion price | 5.95 | ||
Note convertible at $5.05 per share [Member] | |||
Shares issued for a note conversion, conversion price | 5.05 | ||
Note convertible at $2.90 per share [Member] | |||
Shares issued for a note conversion, conversion price | $ 2.90 | ||
Note convertible at $2.96 per share [Member] | |||
Shares issued for a note conversion, conversion price | 2.96 | ||
Note convertible at $2.91 per share [Member] | |||
Shares issued for a note conversion, conversion price | 2.91 | ||
Note convertible at $2.77 per share [Member] | |||
Shares issued for a note conversion, conversion price | 2.77 | ||
Note convertible at $2.25 per share [Member] | |||
Shares issued for a note conversion, conversion price | 2.25 | ||
Note convertible at $2.00 per share [Member] | |||
Shares issued for a note conversion, conversion price | 2 | ||
Note convertible at $2.27283 per share [Member] | |||
Shares issued for a note conversion, conversion price | 2.27283 | ||
Note convertible at $2.0179 per share [Member] | |||
Shares issued for a note conversion, conversion price | 2.0179 | ||
Note convertible at $2.00 per share [Member] | |||
Shares issued for a note conversion, conversion price | 2 | ||
Note convertible at $1.92417 per share [Member] | |||
Shares issued for a note conversion, conversion price | 1.92417 | ||
Note convertible at $1.8578 per share [Member] | |||
Shares issued for a note conversion, conversion price | 1.8578 | ||
Shares issued at $20.63 per share [Member] | |||
Share issue price per share | 20.63 | ||
Shares issued at $18.75 per share [Member] | |||
Share issue price per share | 18.75 | ||
Shares issued at $19.50 per share [Member] | |||
Share issue price per share | $ 19.50 | ||
Number of shareholders to whom shares issued | item | 16 | ||
Shares issued at $11.25 per share [Member] | |||
Share issue price per share | $ 11.25 | ||
Shares issued at $18.75 per share [Member] | |||
Share issue price per share | 18.75 | ||
Shares issued at $19.50 per share [Member] | |||
Share issue price per share | $ 19.50 | ||
Number of shareholders to whom shares issued | item | 16 | ||
Shares issued at $19.50 per share [Member] | |||
Share issue price per share | $ 19.50 | ||
Number of shareholders to whom shares issued | item | 16 | ||
Shares issued at $19.50 per share [Member] | |||
Share issue price per share | $ 19.50 | ||
Number of shareholders to whom shares issued | item | 16 | ||
Shares issued at $9.75 per share [Member] | |||
Share issue price per share | $ 9.75 | ||
Number of shareholders to whom shares issued | item | 16 | ||
Shares issued at $9.75 per share [Member] | |||
Share issue price per share | $ 9.75 | ||
Number of shareholders to whom shares issued | item | 16 | ||
Shares issued at $9.75 per share [Member] | |||
Share issue price per share | $ 9.75 | ||
Number of shareholders to whom shares issued | item | 16 | ||
Option exercisable at $1.25 per share [Member] | |||
Shares issued for option exercise, exercise price | $ 1.25 | ||
Option exercisable at $5.25 per share [Member] | |||
Shares issued for option exercise, exercise price | 5.25 | ||
Option exercisable at $5.25 per share [Member] | |||
Shares issued for option exercise, exercise price | 5.25 | ||
Warrant exercisable at $15.00 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 15 | ||
Warrant exercisable at $12.75 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 12.75 | ||
Warrant exercisable at $.75 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 0.75 | ||
Warrant exercisable at $13.50 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 13.50 | ||
Warrant exercisable at $7.50 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 7.50 | ||
Warrant exercisable at $5.63 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 5.63 | ||
Warrant exercisable at $12.75 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 12.75 | ||
Warrant exercisable at $11.25 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 11.25 | ||
Warrant exercisable at $13.50 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 13.50 | ||
Warrant exercisable at $9.75 per share [Member] | |||
Shares issued for warrant exercise, exercise price | 9.75 | ||
Warrant exercisable at $5.63 per share [Member] | |||
Shares issued for warrant exercise, exercise price | $ 5.63 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flow from operating activities: | ||||
Net loss | $ (1,411,122) | $ (3,352,949) | $ (6,833,568) | $ (9,406,304) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 39,021 | 25,829 | 63,040 | 148,761 |
Vested stock options and warrants | 302,981 | 369,636 | 723,367 | 3,700,070 |
Equity instruments issued for management and consulting | (3,333) | $ 111,917 | 112,054 | 239,290 |
Amortization of debt discount | 219,097 | 247,338 | 413,695 | |
Penalty on debt provision | 10,031 | |||
Loss on Sales of Equipment | $ 13,102 | |||
(Gain) loss on valuation of equity-linked instruments | $ (11,469) | (11,599) | (157,580) | |
Changes in assets and liabilities: | ||||
Accounts receivable | $ 41,694 | (52,395) | 39,696 | (57,534) |
Inventories | 109,699 | (238,488) | (245,192) | 23,034 |
Prepaid expense and other assets | (12,576) | (88,936) | (129,427) | (33,179) |
Accounts payable | 279,669 | 563,224 | 1,132,410 | 429,033 |
Accrued expenses | 193,781 | 790,158 | 1,594,468 | 776,548 |
Deferred Revenue | 3,375 | (64,000) | (64,000) | 69,000 |
Net cash used in operating activities: | $ (214,581) | (1,947,473) | (3,371,413) | (3,855,166) |
Cash flow from investing activities: | ||||
Purchase of fixed assets | (72,377) | (101,409) | (162,761) | |
Purchase of intangibles | $ (7,700) | (14,782) | (19,828) | (53,355) |
Net cash used in investing activities | (7,700) | (87,159) | (121,237) | (216,116) |
Cash flow from financing activities: | ||||
Proceeds from long-term and convertible debt | $ 250,000 | 125,000 | 1,500,000 | $ 1,822,718 |
Principal payments on debt | (300,000) | (305,000) | ||
Issuance of preferred stock | 2,055,000 | 2,055,000 | ||
Issuance of common stock | 92,831 | 157,081 | $ 2,337,378 | |
Net cash provided by (used in) financing activities | $ 250,000 | 1,972,831 | 3,407,081 | 4,160,096 |
Net increase (decrease) in cash | 27,719 | (61,801) | (85,569) | 88,814 |
Cash at beginning of period | 16,384 | 101,953 | 101,953 | 13,139 |
Cash at end of period | $ 44,103 | 40,151 | $ 16,384 | 101,953 |
Non cash transactions: | ||||
Conversion of debt to accrued liabilities | 415,775 | |||
Common stock issued for accrued interest/bonus | $ 694,500 | $ 694,500 | 402,669 | |
Common stock issued to satisfy debt | $ 483,478 | $ 480,616 | 2,318,568 | |
Stock/warrant issued to satisfy accounts payable/Liabilities | $ 100,521 |
SUMMARY OF SIGNIFICANT ACCOUNTI
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ||
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Continuance of Operations Skyline Medical Inc. (the "Company") was incorporated under the laws of the State of Minnesota in 2002. Effective August 6, 2013, the Company changed its name to Skyline Medical Inc. As of June 30, 201 5 , the registrant had 3,312 ,863 shares of common stock, par value $ .01 The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has suffered recurring losses from operations and has a stockholders' deficit. These factors raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. In July 2015, we filed a registration statement with the SEC in connection with a proposed public offering of a Series B Convertible Preferred Stock and Series A Warrants (the “Units”). We continue to pursue this public offering, with the intention of listing our common stock and the Units on NASDAQ. Since inception to June 30, 201 5 , the Company raised approximately $ 9,168,000 2,055,000 A Convertible Preferred Stock, and $ 5,685,000 Recent Accounting Developments In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers and created a new topic in the FASB Accounting Standards Codification ("ASC"), Topic 606. The new standard provides a single comprehensive revenue recognition framework for all entities and supersedes nearly all existing U.S. GAAP revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue in a manner that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and also requires enhanced disclosures. The amendments are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is not permitted. We are currently evaluating the impact this guidance may have on our financial statements and related disclosures. In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 during the year 2014. In June 2014, the FASB issued ASU 2014-12, "Compensation - Stock Compensation" providing explicit guidance on how to account for share-based payments granted to employees in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance may have on our financial statements. We reviewed all other significant newly issued accounting pronouncements and determined they are either not applicable to our business or that no material effect is expected on our financial position and results of our operations. Valuation of Intangible Assets We review identifiable intangible assets for impairment in accordance with ASC 350 — Intangibles —Goodwill and Other, whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Our intangible assets are currently solely the costs of obtaining trademarks and patents. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which we operate. If such events or changes in circumstances are present, the undiscounted cash flows method is used to determine whether the intangible asset is impaired. Cash flows would include the estimated terminal value of the asset and exclude any interest charges. If the carrying value of the asset exceeds the undiscounted cash flows over the estimated remaining life of the asset, the asset is considered impaired, and the impairment is measured by reducing the carrying value of the asset to its fair value using the discounted cash flows method. The discount rate utilized is based on management's best estimate of the related risks and return at the time the impairment assessment is made. Accounting Policies and Estimates The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Presentation of Taxes Collected from Customers Sales taxes are imposed on the Company's sales to nonexempt customers. The Company collects the taxes from customers and remits the entire amounts to the governmental authorities. The Company's accounting policy is to exclude the taxes collected and remitted from revenues and expenses. Shipping and Handling Shipping and handling charges billed to customers are recorded as revenue. Shipping and handling costs are recorded within cost of goods sold on the statement of operations. Advertising Advertising costs are expensed as incurred. Advertising expenses were $ 500 1,417 $ 1,250 7,793 June 30, 2014 Research and Development 58,285 and $ 120,947 2015 and were $ 131,285 249,636 . Revenue Recognition The Company recognizes revenue in accordance with the SEC's Staff Accounting Bulletin Topic 13 Revenue Recognition and ASC 605-Revenue Recognition. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable and collectability is probable. Delivery is considered to have occurred upon either shipment of the product or arrival at its destination based on the shipping terms of the transaction. The Company's standard terms specify that shipment is FOB Skyline and the Company will, therefore, recognize revenue upon shipment in most cases. This revenue recognition policy applies to shipments of the STREAMWAY FMS units as well as shipments of cleaning solution kits. When these conditions are satisfied, the Company recognizes gross product revenue, which is the price it charges generally to its customers for a particular product. Under the Company's standard terms and conditions, there is no provision for installation or acceptance of the product to take place prior to the obligation of the customer. The customer's right of return is limited only to the Company's standard one-year warranty whereby the Company replaces or repairs, at its option, and it would be rare that the STREAMWAY FMS unit or significant quantities of cleaning solution kits may be returned. Additionally, since the Company buys both the STREAMWAY FMS units and cleaning solution kits from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management's assessment of the current status of individual accounts, changes to the valuation allowance have not been material to the financial statements. Inventories Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: June 30, December 31, 2015 2014 Finished goods $ 46,845 $ 88,362 Raw materials 200,654 237,556 Work-In-Process 10,169 41,449 Total $ 257,668 $ 367,367 Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 7 Leasehold improvements 5 Manufacturing tooling 3 7 Demo Equipment 3 The Company's investment in Fixed Assets consists of the following: June 30, 2015 December 31, 2014 Computers and office equipment $ 122,889 $ 123,708 Leasehold improvements 23,874 23,874 Manufacturing tooling 97,288 97,288 Demo Equipment 13,706 30,576 Total 257,757 275,446 Less: Accumulated depreciation 110,514 78,967 Total Fixed Assets, Net $ 147,243 $ 196,479 Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations as incurred. Intangible Assets Intangible assets consist of trademarks and patent costs. Amortization expense was $ 1,444 2,888 0 Income Taxes The Company accounts for income taxes in accordance with ASC 740- Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to impact taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified no income tax uncertainties. Tax years subsequent to 2011 remain open to examination by federal and state tax authorities. Patents and Intellectual Property On January 25 Our PCT patent application is for the new model of the surgical fluid waste management system. We obtained a favorable International Search Report from the PCT searching authority indicating that the claims in our PCT application are patentable (i.e., novel and non-obvious) over the cited prior art. A feature claimed in the PCT application is the ability to maintain continuous suction to the surgical field while measuring, recording and evacuating fluid to the facilities sewer drainage system. This provides for continuous operation of the STREAMWAY System unit in suctioning waste fluids, which means that suction is not interrupted during a surgical operation, for example, to empty a fluid collection container or otherwise dispose of the collected fluid. The Company holds the following granted patents in the United States and a pending application in the United States on its earlier models: US7469727, US8123731 and U.S. Publication No. US20090216205 (collectively, the “Patents”). These Patents will begin to expire on August 8, 2023. Subsequent Events As described in Note 3 below, on July 24, 2015, the Company amended its Certificate of Incorporation, pursuant to which the authorized common stock was increased to 100,000,000 20,000,000 On February 4, 2014, the Company raised $ 2,055,000 20,550 0.01 100 In connection with the Company's proposed offering of 1,666,667 9.00 228,334 84,770 From July through September 2014, the Company entered into a series of securities purchase agreements pursuant to which the Company issued approximately $ 1.8 1.6 275,000 927,663 933,073 140% 1.4 167,031 Interim Financial Statements The Company has prepared the unaudited interim financial statements and related unaudited financial information in the footnotes in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial statements. These interim financial statements reflect all adjustments consisting of normal recurring accruals, which, in the opinion of management, are necessary to present fairly the Company's financial position, the results of its operations and its cash flows for the interim periods. These interim financial statements should be read in conjunction with the annual financial statements and the notes thereto contained in the Form 10-K filed with the SEC on April 30 , 2015 . The nature of the Company's business is such that the results of any interim period may not be indicative of the results to be expected for the entire year. | NOTE 1 — SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Continuance of Operations Skyline Medical Inc. (the "Company") was incorporated under the laws of the State of Minnesota in 2002. Effective August 6, 2013, the Company changed its name to Skyline Medical Inc. As of December 31, 2014, the registrant had 3,092,766 .01 1-for-75 The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has suffered recurring losses from operations and has a stockholders' deficit. These factors raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. In September 2014, we filed a registration statement with the SEC in connection with a proposed public offering of common stock and warrants. We continue to pursue this public offering, with the intention of listing our common stock on NASDAQ, and we intend to update the registration statement as soon as possible following the filing of this report. We also are seeking additional financing through one or more private placements of securities. Since inception to December 31, 2014, the Company raised approximately $ 9,168,000 2,055,000 5,435,000 Recent Accounting Developments In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-10, Development Stage Entities Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 during the year 2014. In June 2014, the FASB issued ASU 2014-12, "Compensation - Stock Compensation" We reviewed all other significant newly issued accounting pronouncements and determined they are either not applicable to our business or that no Valuation of Intangible Assets We review identifiable intangible assets for impairment in accordance with ASC 350 — Intangibles —Goodwill and Other, whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Our intangible assets are currently solely the costs of obtaining trademarks and patents. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which we operate. If such events or changes in circumstances are present, the undiscounted cash flows method is used to determine whether the intangible asset is impaired. Cash flows would include the estimated terminal value of the asset and exclude any interest charges. If the carrying value of the asset exceeds the undiscounted cash flows over the estimated remaining life of the asset, the asset is considered impaired, and the impairment is measured by reducing the carrying value of the asset to its fair value using the discounted cash flows method. The discount rate utilized is based on management's best estimate of the related risks and return at the time the impairment assessment is made. The Company wrote off the entire original STREAMWAY FMS product patent of $ 140,588 Accounting Policies and Estimates The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Presentation of Taxes Collected from Customers Sales taxes are imposed on the Company's sales to nonexempt customers. The Company collects the taxes from customers and remits the entire amounts to the governmental authorities. The Company's accounting policy is to exclude the taxes collected and remitted from revenues and expenses. Shipping and Handling Shipping and handling charges billed to customers are recorded as revenue. Shipping and handling costs are recorded within cost of goods sold on the statement of operations. Advertising Advertising costs are expensed as incurred. Advertising expenses were $ 19,394 Research and Development Research and development costs are charged to operations as incurred. Research and development costs were approximately $394,000 $235,000 Revenue Recognition The Company recognizes revenue in accordance with the SEC's Staff Accounting Bulletin Topic 13 Revenue Recognition and ASC 605- Revenue Recognition. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable and collectability is probable. Delivery is considered to have occurred upon either shipment of the product or arrival at its destination based on the shipping terms of the transaction. The Company's standard terms specify that shipment is FOB Skyline and the Company will, therefore, recognize revenue upon shipment in most cases. This revenue recognition policy applies to shipments of the STREAMWAY FMS units as well as shipments of cleaning solution kits. When these conditions are satisfied, the Company recognizes gross product revenue, which is the price it charges generally to its customers for a particular product. Under the Company's standard terms and conditions, there is no provision for installation or acceptance of the product to take place prior to the obligation of the customer. The customer's right of return is limited only to the Company's standard one-year warranty whereby the Company replaces or repairs, at its option, and it would be rare that the STREAMWAY FMS unit or significant quantities of cleaning solution kits may be returned. Additionally, since the Company buys both the STREAMWAY FMS units and cleaning solution kits from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management's assessment of the current status of individual accounts, changes to the valuation allowance have not been material to the financial statements. Inventories Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: December 31, 2014 2013 Finished goods $ 88,362 $ 56,818 Raw materials 237,556 18,603 Work-In-Process 41,449 46,754 Total $ 367,367 $ 122,175 Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 7 Leasehold improvements 5 Manufacturing Tooling 3 7 Demo Equipment 3 The Company's investment in Fixed Assets consists of the following: December 31, 2014 2013 Computers and office equipment $ 123,708 $ 61,505 Leasehold Improvements 23,874 23,614 Manufacturing Tooling 97,288 89,900 Demo Equipment 30,576 Total 275,446 175,019 Less: Accumulated Depreciation 78,967 16,909 Total Fixed Assets, Net $ 196,479 $ 158,110 Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations as incurred. Intangible Assets Intangible assets consist of trademarks and patent costs. These assets are not subject to amortization until the property patented is in production. The assets are reviewed for impairment annually, and impairment losses, if any, are charged to operations when identified. Income Taxes The Company accounts for income taxes in accordance with ASC 740- Income Taxes (“ASC 740”) The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified no income tax uncertainties. Tax years subsequent to 2011 remain open to examination by federal and state tax authorities. Patents and Intellectual Property On January 25th, 2014 the Company filed a non-provisional PCT Application No. PCT/US2014/013081 claiming priority from the U.S. Provisional Patent Application, number 61756763 which was filed one year earlier on January 25th, 2013. The Patent Cooperation Treaty (“PCT”) allows an applicant to file a single patent application to seek patent protection for an invention simultaneously in each of the 148 countries of the PCT, including the United States. By filing this single “international” patent application through the PCT, it is easier and more cost effective than filing separate applications directly with each national or regional patent office in which patent protection is desired. Our PCT patent application is for the new model of the surgical fluid waste management system. We obtained a favorable International Search Report from the PCT searching authority indicating that the claims in our PCT application are patentable (i.e., novel and non-obvious) over the cited prior art. A feature claimed in the PCT application is the ability to maintain continuous suction to the surgical field while measuring, recording and evacuating fluid to the facilities sewer drainage system. This provides for continuous operation of the STREAMWAY System unit in suctioning waste fluids, which means that suction is not interrupted during a surgical operation, for example, to empty a fluid collection container or otherwise dispose of the collected fluid. The Company holds the following granted patents in the United States and a pending application in the United States on its earlier models: US7469727, US8123731 and U.S. Publication No. US20090216205 (collectively, the “Patents”). These Patents will begin to expire on August 8, 2023. |
DEVELOPMENT STAGE OPERATIONS
DEVELOPMENT STAGE OPERATIONS | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
DEVELOPMENT STAGE OPERATIONS [Abstract] | ||
DEVELOPMENT STAGE OPERATIONS | NOTE 2 – DEVELOPMENT STAGE OPERATIONS The Company was formed April 23, 2002. Since inception to August 6 , 2015 , 3,312,863 shares of common stock have been issued between par value and $ 125.25 . Operations since incorporation have been devoted to raising capital, obtaining financing, development of the Company's product, and administrative services , customer acceptance and sales and marketing strategies . | NOTE 2 – DEVELOPMENT STAGE OPERATIONS The Company was formed April 23, 2002. Since inception through December 31, 2014, 3,092,766 125.25 |
STOCKHOLDERS' DEFICIT, STOCK OP
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS [Abstract] | ||
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS | NOTE 3 – STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS The Company has an equity incentive plan, which allows issuance of incentive and non-qualified stock options to employees, directors and consultants of the Company, where permitted under the plan. The exercise price for each stock option is determined by the Board of Directors. Vesting requirements are determined by the Board of Directors when granted and currently range from immediate to three years. Options under this plan have terms ranging from three to ten years. On February 4, 2014, (the “Closing Date”) we raised $ 2,055,000 0.01 20,550 21,334 24.38 61,539 The Securities Purchase Agreement requires the Company to register the resale of the shares of Common Stock underlying the Preferred Shares (the “Underlying Shares”) and the Common Stock underlying the Warrants (the “Warrant Shares”). On September 9, 2014, a resale registration statement covering the Underlying Shares, the Warrant Shares and certain other securities (the “Resale Registration Statement”) was declared effective. The Preferred Shares are convertible at the option of the holder into the number of shares of Common Stock determined by dividing the stated value of the Preferred Shares being converted by the conversion price of $19.50, subject to adjustment for stock splits, reverse stock splits and similar recapitalization events. If the Company issues additional shares of Common Stock, other than certain stock that is excluded under the terms of the Securities Purchase Agreement, in one or more capital raising transactions with an aggregate purchase price of at least $100,000 for a price less than the then existing conversion price for the Preferred Shares (the “New Issuance Price”), then the then existing conversion price shall be reduced to the New Issuance Price, provided, however, that under no circumstances shall the New Issuance Price be less than $9.75 or reduced to a price level that would be in breach of the listing rules of any stock exchange In July 2014, in connection with the issuance of certain convertible notes, the conversion price of the Preferred Stock was adjusted to $ 9.75 4.99 an amount equal to $ 2,055,000 The Warrants are exercisable on any day on or after the date of issuance, have an adjusted exercise price of $9.75 per share, subject to possible further adjustment, and a term of five years from the date they are first exercisable. However, a holder will be prohibited from exercising a Warrant if, as a result of such exercise, the holder, together with its affiliates, would exceed the Beneficial Ownership Limitation as described above for the Preferred Shares. If any Warrant has not been fully exercised prior to the first anniversary of the Closing and if during such period the Company has not installed or received firm purchase orders (accepted by the Company) for at least 500 STREAMWAY ® Automated Surgical Fluid Disposal Systems, then, the number of shares of Common Stock for which such Warrant may be exercised shall be increased to 2.5 times the previous amount. In January 2015, the number of shares of Common Stock for which each Warrant may be exercised was increased according to this provision. As described in Note 1 under “Subsequent Events”, the Company and the holders of the Preferred Shares have agreed to the exchange of the Preferred Shares for certain units, with an agreed-upon reduction in the number of shares for which each Warrant may be exercised. In addition, in July, August and September 2014, the Company issued 71,257 Accounting for share-based payment The Company has adopted ASC 718- Compensation-Stock Compensation ("ASC 718"). Under ASC 718 stock-based employee compensation cost is recognized using the fair value based method for all new awards granted after January 1, 2006 and unvested awards outstanding at January 1, 2006. Compensation costs for unvested stock options and non-vested awards that were outstanding at January 1, 2006, are being recognized over the requisite service period based on the grant-date fair value of those options and awards, using a straight-line method. We elected the modified-prospective method under which prior periods are not retroactively restated. ASC 718 requires companies to estimate the fair value of stock-based payment awards on the date of grant using an option-pricing model or other acceptable means. The Company uses the Black-Scholes option valuation model which requires the input of significant assumptions including an estimate of the average period of time employees will retain vested stock options before exercising them, the estimated volatility of the Company's common stock price over the expected term, the number of options that will ultimately be forfeited before completing vesting requirements, the expected dividend rate and the risk-free interest rate. Changes in the assumptions can materially affect the estimate of fair value of stock-based compensation and, consequently, the related expense recognized. The assumptions the Company uses in calculating the fair value of stock-based payment awards represent the Company's best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based compensation expense could be materially different in the future. Since the Company's common stock has no significant public trading history, and the Company has experienced no significant option exercises in its history, the Company is required to take an alternative approach to estimating future volatility and estimated life and the future results could vary significantly from the Company's estimates. The Company compiled historical volatilities over a period of 2 to 7 years of 15 small-cap medical companies traded on major exchanges and 10 mid-range medical companies on the OTC Bulletin Board and combined the results using a weighted average approach. When an option or warrant is granted in place of cash compensation for services, the Company deems the value of the service rendered to be the value of the option or warrant. In most cases, however, an option or warrant is granted in addition to other forms of compensation and its separate value is difficult to determine without utilizing an option pricing model. For that reason the Company also uses the Black-Scholes option-pricing model to value options and warrants granted to non-employees, which requires the input of significant assumptions including an estimate of the average period the investors or consultants will retain vested stock options and warrants before exercising them, the estimated volatility of the Company's common stock price over the expected term, the number of options and warrants that will ultimately be forfeited before completing vesting requirements, the expected dividend rate and the risk-free interest rate. Changes in the assumptions can materially affect the estimate of fair value of stock-based consulting and/or compensation and, consequently, the related expense recognized. Since the Company has limited trading history in its stock and no first-hand experience with how its investors and consultants have acted in similar circumstances, the assumptions the Company uses in calculating the fair value of stock-based payment awards represent its best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based consulting and interest expense could be materially different in the future. Valuation and accounting for options and warrants The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility and estimated term. In January 2014 the Company issued 4,336 1.25 In January through March 2014, 9 warrant holders exercised warrants through a cashless exercise for a total of 15,442 In January and February 2014 the Company issued warrants to purchase 21,538 A Convertible Preferred Stock raising gross proceeds of $2,055,000. The warrants are at an exercise price of $ 24.38 In February 2014 the Company issued a warrant to purchase 1,482 On March 31, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 19.50 970 In March 2014, the Company issued 4,444 11.25 3,333 In June 2014, the Company issued 3,725 On June 30, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 19.50 1,561 On June 30, 2014, the Company issued a warrant to purchase 5,431 12.38 11 4,831 12.38 In July 2014, the Company issued warrants to purchase 28,986 12.38 11 In August 2014, the Company issued warrants to purchase 61,539 24.38 In August and September 2014, the Company issued warrants to purchase 37,440 12.38 11 On September 30, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 19.50 1,561 In November 2014, the Company issued 13,700 0.01 On December 31, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 19.50 1,559 For grants of stock options and warrants in 2014 the Company used a 1.44 2.75 0 59 66 5 10 3.2006 13.9195 In January 2015, the Company issued a dividend adjustment to the Purchasers of the Preferred Shares as described above. Certain previous dividends paid were calculated with an exercise price of $ 19.50 9.75 3,122 On March 31, 201 5 , the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 9.75 per share. As a result 3,121 shares of common stock were issued to 16 holders of Preferred Shares. On June 30, 2015, the Company issued dividends to Purchases of the Preferred Shares as described above. The dividends are at an annual rate of 6 9.75 3,121 For grants of stock options and warrants in 2015 the Company used a 1.63 2.35 0 59 66 5 10 0.2750 to $ 5.5695 per share. The following summarizes transactions for stock options and warrants for the periods indicated: Stock Options Warrants Average Average Number of Exercise Number of Exercise Shares Price Shares Price Outstanding at December 31, 2013 385,733 $ 6.75 461,920 $ 10.50 Issued 75,683 8.12 161,375 3.81 Expired (7,879 ) 23.58 (81,851 ) 13.54 Exercised (4,936 ) 1.76 (40,722 ) 8.38 Outstanding at December 31, 2014 448,601 $ 7.51 500,722 $ 7.95 Issued 66,926 3.14 126,310 13.49 Expired (7,136 ) 13.55 (1,567) 14.04 Exercised - - - - Outstanding at June 30, 2015 508,391 $ 6.96 625,465 $ 9.06 At June 30, 2015 , 501,723 stock options are fully vested and currently exercisable with a weighted average exercise price of $ 6.31 and a weighted average remaining term of 6.43 years. All warrants are fully vested and exercisable. Stock-based compensation recognized for the six months ending June 2015 and June 2014 was $ 302,981 and $ 352,762 , respectively. The Company has $ 72,354 of unrecognized compensation expense related to non-vested stock options that are expected to be recognized over a weighted average period of approximately 9 months. The following summarizes the status of options and warrants outstanding at June 30, 2015 : Range of Prices Shares Weighted Options $ 0.75 7,333 6.02 $ 3.10 59,681 10.00 $ 3.45 7,245 9.76 $ 4.875 134 7.70 $ 5.25 2,031 7.19 $ 5.625 192,000 7.71 $ 5.925 23,206 7.72 $ 6.00 123,998 7.13 $ 6.50 3,845 9.51 $ 6.60 5,332 6.57 $ 8.25 3,636 9.26 $ 9.9375 3,019 8.04 $ 10.50 3,238 8.04 $ 11.25 13,666 7.60 $ 12.75 3,401 8.29 $ 13.875 2,160 8.76 $ 15.00 3,334 8.72 $ 17.25 40,261 8.69 $ 18.75 3,334 8.65 $ 20.25 4,940 8.51 $ 21.75 1,336 8.28 $ 23.85 1,260 8.26 Total 508,391 Warrants $ 0.75 400 0.44 $ 6.00 102,857 2.71 $ 9.00 2,666 2.58 $ 9.75 155,545 4.10 $ 11.25 203,801 2.52 $ 12.375 71,257 4.11 $ 12.38 5,557 4.36 $ 13.50 4,444 2.97 $ 14.85 23,612 2.92 $ 20.25 1,481 3.63 $ 24.375 53,845 3.60 Total 625,465 Stock options and warrants expire on various dates from December 2015 to June 2025 . The shareholders approved an increase in authorized shares to 1,066,067 2,666,667 The shareholders approved an increase in authorized shares to 4,000,000 The shareholders approved an amendment of the Company's 2012 Stock Incentive Plan to increase the reserve of shares authorized for issuance to 666,667 266,667 An increase from 4,000,000 10,666,667 1,333,334 On July 24, 2015, an amendment to the Certificate of Incorporation became effective, pursuant to which the authorized common stock was increased to 100,000,000 20,000,000 Stock Options and Warrants Granted by the Company The following table is the listing of stock options and warrants as of June 30, 2015 by year of grant: Stock Options: Year Shares Price 2011 11,666 $ 0.75 2012 126,029 5.25 6.00 2013 238,088 4.875 23.85 2014 65,681 6.50 18.75 2015 66,926 3.10 3.45 Total 508,391 $ .75 25.613 Warrants: Year Shares Price 2010 400 0.75 2011 - - 2012 69,801 11.25 2013 267,579 6.00 14.85 2014 161,375 12.375 24.375 2015 126,310 $ 9.75 24.375 Total 625,465 $ 0.75 24.375 | NOTE 3 – STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS The Company has an equity incentive plan, which allows issuance of incentive and non-qualified stock options to employees, directors and consultants of the Company, where permitted under the plan. The exercise price for each stock option is determined by the Board of Directors. Vesting requirements are determined by the Board of Directors when granted and currently range from immediate to three years. Options under this plan have terms ranging from three to ten On February 4, 2014, (the “Closing Date”) we raised $ 2,055,000 0.01 21,334 24.38 61,539 The Securities Purchase Agreement requires the Company to register the resale of the shares of Common Stock underlying the Preferred Shares (the “Underlying Shares”) and the Common Stock underlying the Warrants (the “Warrant Shares”). On September 9, 2014, a resale registration statement covering the Underlying Shares, the Warrant Shares and certain other securities (the “Resale Registration Statement”) was declared effective. The Preferred Shares are convertible at the option of the holder into the number of shares of Common Stock determined by dividing the stated value of the Preferred Shares being converted by the conversion price of $ 19.50 9.75 4.99 an amount equal to $2,055,000 times 1.2, plus all declared but unpaid dividends. In July 2014, in connection with the offering of convertible notes and warrants and in connection with the waiver of certain rights, the Company agreed to issue additional shares of Common Stock to the Preferred Stockholders (the “Additional Shares”) (A) automatically upon the closing of a Qualified Public Offering (as defined in the Certificate of Designation), to the extent that (i) the Qualified Public Offering closes within six (6) months of the first closing of the convertible notes offering (“Qualified Public Offering Deadline”) and (ii) 70% of the public offering price per share of the Common Stock in the Qualified Public Offering (the “QPO Discount Price”) is less than the Conversion Price floor contained in Section 7(e)(i) of the Certificate of Designation (the “Conversion Price Floor”), or (B) if a Qualified Public Offering has not been consummated by the Qualified Public Offering Deadline, upon the Preferred Stockholders' conversion of their shares of Preferred Stock to the extent that 70% of the volume weighted average price of the Common Stock on the principal Trading Market (as defined in the Certificate of Designation) of the Common Stock during the ten Trading Days (as defined in the Certificate of Designation) immediately preceding the Qualified Public Offering Deadline (the “Non-QPO Discount Price”) is less than the Conversion Price Floor. The Warrants are exercisable on any day on or after the date of issuance, have an exercise price of $24.38 per share, subject to adjustment, and a term of five years from the date they are first exercisable. However, a holder will be prohibited from exercising a Warrant if, as a result of such exercise, the holder, together with its affiliates, would exceed the Beneficial Ownership Limitation as described above for the Preferred Shares. If any Warrant has not been fully exercised prior to the first anniversary of the Closing and if during such period the Company has not installed or received firm purchase orders (accepted by the Company) for at least 500 STREAMWAY ® Automated Surgical Fluid Disposal Systems, then, the number of shares of Common Stock for which such Warrant may be exercised shall be increased 2.5 times. In addition, in July, August and September 2014, the Company issued 71,257 Accounting for share-based payment The Company has adopted ASC 718- Compensation-Stock Compensation ASC 718 requires companies to estimate the fair value of stock-based payment awards on the date of grant using an option-pricing model or other acceptable means. The Company uses the Black-Scholes option valuation model which requires the input of significant assumptions including an estimate of the average period of time employees will retain vested stock options before exercising them, the estimated volatility of the Company's common stock price over the expected term, the number of options that will ultimately be forfeited before completing vesting requirements, the expected dividend rate and the risk-free interest rate. Changes in the assumptions can materially affect the estimate of fair value of stock-based compensation and, consequently, the related expense recognized. The assumptions the Company uses in calculating the fair value of stock-based payment awards represent the Company's best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based compensation expense could be materially different in the future. Since the Company's common stock has no significant public trading history, and the Company has experienced no significant option exercises in its history, the Company is required to take an alternative approach to estimating future volatility and estimated life and the future results could vary significantly from the Company's estimates. The Company compiled historical volatilities over a period of 2 to 7 years of 15 small-cap medical companies traded on major exchanges and 10 mid-range medical companies on the OTC Bulletin Board and combined the results using a weighted average approach. When an option or warrant is granted in place of cash compensation for services, the Company deems the value of the service rendered to be the value of the option or warrant. In most cases, however, an option or warrant is granted in addition to other forms of compensation and its separate value is difficult to determine without utilizing an option pricing model. For that reason the Company also uses the Black-Scholes option-pricing model to value options and warrants granted to non-employees, which requires the input of significant assumptions including an estimate of the average period the investors or consultants will retain vested stock options and warrants before exercising them, the estimated volatility of the Company's common stock price over the expected term, the number of options and warrants that will ultimately be forfeited before completing vesting requirements, the expected dividend rate and the risk-free interest rate. Changes in the assumptions can materially affect the estimate of fair value of stock-based consulting and/or compensation and, consequently, the related expense recognized. Since the Company has limited trading history in its stock and no first-hand experience with how its investors and consultants have acted in similar circumstances, the assumptions the Company uses in calculating the fair value of stock-based payment awards represent its best estimates, which involve inherent uncertainties and the application of management's judgment. As a result, if factors change and the Company uses different assumptions, the Company's equity-based consulting and interest expense could be materially different in the future. Valuation and accounting for options and warrants The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility and estimated term. In January 2013, in connection with a private placement offering we issued 8 300,000 33,333 9.00 33,333 11.25 77,644 2,667 9.00 In January and March 2013, in connection with a separate and new private placement offering we issued 95,238 95,238 11.25 500,000 On March 15, 2013 the Company completed the private sale of 95,239 shares of the Company's common stock, par value $ .01 5.25 500,000 95,239 6.00 47,619 11.25 In April 2013, the Company issued 2,667 .01 4,444 0.75 In May 2013, the Company converted four (4) notes totaling $ 156,243 11,169 14,881 .01 7.50 4,762 In May and June 2013 in connection with a private placement offering we issued 8 1,000,000 80,000 13.50 five 61,481 14.85 275,640 5,926 13.50 In August and September 2013 the Company entered into agreements with holders of certain of its outstanding warrants to purchase the Company's common stock to amend the exercise price of the warrant to $ 7.50 11.25 34.50 1,044,490 139,265 87,117 In October 2013 the Company entered into agreements with a holder of certain of its outstanding warrants to purchase the Company's common stock to amend the exercise price of the warrant to $ 9.38 18.75 125,000 13,333 For grants of stock options and warrants in 2013 the Company used a 0.78 2.04 0 59 66 1.43 18.34 In January 2014 the Company issued 4,336 1.25 In January through March 2014, 9 warrant holders exercised warrants through a cashless exercise for a total of 15,442 In January and February 2014 the Company issued warrants to purchase 21,538 20,550 2,055,000 24.38 In February 2014 the Company issued a warrant to purchase 1,482 On March 31, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 19.50 970 In March 2014, the Company issued 4,444 11.25 3,333 In June 2014, the Company issued 3,725 On June 30, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 19.50 1,561 On June 30, 2014, the Company issued a warrant to purchase 5,431 12.38 11 4,831 12.38 In July 2014, the Company issued warrants to purchase 28,986 12.38 11 In August 2014, the Company issued warrants to purchase 61,539 24.38 In August and September 2014, the Company issued warrants to purchase 37,440 12.38 11 On September 30, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 19.50 1,561 In November 2014, the Company issued 13,700 0.01 On December 31, 2014, the Company issued dividends to the Purchasers of the Preferred Shares as described above. The dividends are at an annual rate of 6 1,559 For grants of stock options and warrants in 2014 the Company used a 1.44 2.75 0 59 66 5 10 3.2006 13.9195 The following summarizes transactions for stock options and warrants for the periods indicated: Stock Options Warrants Average Average Number of Exercise Number of Exercise Shares Price Shares Price Outstanding at December 31, 2012 168,856 $ 6.75 468,431 $ 9.75 Issued 239,816 6.75 343,196 9.00 Expired (15,467 ) 18.00 (111,025 ) 13.50 Exercised (7,472 ) 0.75 (238,682 ) 8.25 Outstanding at December 31, 2013 385,733 $ 6.75 461,920 $ 10.50 Issued 75,683 8.12 161,375 3.81 Expired (7,879 ) 23.58 (81,851 ) 13.54 Exercised (4,936 ) 1.76 (40,722 ) 8.38 Outstanding at December 31, 2014 448,601 $ 7.51 500,722 $ 7.95 At December 31, 2014, 429,930 7.19 7.94 723,367 3,700,070 198,220 16 The following summarizes the status of options and warrants outstanding at December 31, 2014: Range of Exercise Prices Shares Weighted Average Remaining Life Options: $ 0.75 7,333 6.52 $ 4.875 134 8.20 $ 5.25 2,031 7.62 $ 5.625 192,000 8.21 $ 5.925 23,206 8.22 $ 6.00 123,998 7.63 $ 6.50 3,845 10.00 $ 6.60 5,332 7.07 $ 8.25 3,636 9.76 $ 9.9375 3,019 8.54 $ 10.50 3,238 8.54 $ 11.25 13,666 8.08 $ 12.75 10,069 9.29 $ 13.875 2,160 9.25 $ 15.00 3,334 9.22 $ 17.25 40,261 9.19 $ 18.75 3,335 9.15 $ 20.25 4,940 9.01 $ 21.75 1,336 8.77 $ 23.85 1,260 8.75 $ 24.75 334 8.73 $ 25.6125 134 8.49 Total 448,601 Warrants: $ 0.75 400 0.94 $ 6.00 102,857 3.20 $ 9.00 2,666 3.07 $ 11.25 204,200 3.02 $ 12.375 71,257 4.61 $ 12.38 5,557 4.85 $ 13.50 4,444 3.47 $ 14.85 23,612 3.41 $ 15.00 1,168 0.09 $ 20.25 1,481 4.13 $ 24.375 83,080 4.46 Total 500,722 Stock options and warrants expire on various dates from January 2015 to December 2024. The shareholders approved an increase in authorized shares to 1,066,067 2,666,667 The shareholders approved an increase in authorized shares to 4,000,000 The shareholders approved an amendment of the Company's 2012 Stock Incentive Plan to increase the reserve of shares authorized for issuance to 666,667 266,667 An increase from 4,000,000 10,666,667 1,333,334 Stock Options and Warrants Granted by the Company The following table is the listing of stock options and warrants as of December 31, 2014 by year of grant: Stock Options: Year Shares Price 2011 11,666 $ .75 2012 126,029 5.25 6.00 2013 238,556 4.875 25.613 2014 72,350 6.50 18.75 Total 448,601 $ .75 25.613 Warrants: Year Shares Price 2010 400 .75 2012 71,368 11.25 15.00 2013 267,579 6.00 14.85 2014 161,375 $ 12.375 24.375 Total 500,722 $ .75 24.375 |
SHORT-TERM NOTES PAYABLE
SHORT-TERM NOTES PAYABLE | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Debt Disclosure [Abstract] | ||
Short-term Debt [Text Block] | NOTE 4 – SHORT-TERM NOTES PAYABLE From July through September 2014, we entered into a series of securities purchase agreements pursuant to which we issued approximately $ 1.8 million original principal amount (subsequently reduced to approximately $ 1.6 1,475,000 122,196 5,431 100,000 275,000 250,000 Under a provision in the existing agreements, upon effectiveness of a resale registration statement covering certain shares, on September 9, 2014, the principal amount of the notes was reduced by 11 1,603,260 11 71,257 As of June 30, 2015, $ 927,663 933,073 As described in Note 1 under “Subsequent Events”, in connection with the Company's proposed offering of Units, the holders of the Convertible Notes have agreed to not exercise their right to convert the Convertible Notes into shares of the Company's common stock, in exchange for the Company's agreement to redeem all of the outstanding Convertible Notes promptly following the consummation of the Company's offering of Units at a redemption price equal to 140 1.4 167,031 | NOTE 4 – SHORT-TERM NOTES PAYABLE On July 23, 2014, the Company entered into a Securities Purchase Agreement (the “SOK Securities Purchase Agreement”) with SOK Partners, LLC, an affiliate of the Company (“SOK”), pursuant to which the Company agreed to issue and sell (i) a senior convertible note, in an original principal amount of $122,196 (the “SOK Note”), which SOK Note shall be convertible into a certain amount of shares (the “SOK Conversion Shares”) of Common Stock, in accordance with the terms of the SOK Note, and (ii) a warrant (the “SOK Warrant”) to initially acquire up to 5,431 additional shares of Common Stock (the “SOK Warrant Shares,” and collectively with the SOK Note, the SOK Warrant and the SOK Conversion Shares, the “SOK Securities”) for an aggregate purchase price of $100,000 (with the reduced principal amount as described below representing an approximately 8.7% original issue discount) (the “SOK Convertible Notes Offering”). Upon effectiveness of the Resale Registration Statement (as defined below) on September 9, 2014, the principal amount of the note was reduced to $ 108,696 4,831 Also, on July 23, 2014, the Company entered into a Securities Purchase Agreement with 31 Group, LLC (an affiliate of Aegis Capital Corp., the underwriter for the Company's pending public offering) pursuant to which the Company agreed to issue and sell (i) a senior convertible note, in an original principal amount of $610,978 (subsequently reduced to $543,478) (the “31 Group Note”), which shall be convertible into a certain amount of shares of Common Stock, in accordance with the terms of the 31 Group Note, (ii) a warrant (the “31 Group Warrant”) to initially acquire up to 27,155 additional shares of Common Stock (subsequently reduced to 24,155 shares) (the “31 Group Conversion Shares,” and collectively with the 31 Group Note, the 31 Group Warrant and the 31 Conversion Shares, the “31 Group Securities”) for an aggregate purchase price of $500,000 (representing an approximately 8.7% original issue discount) (the “31 Group Convertible Notes Offering”). On July 31, 2014, August 8, 2014, August 12, 2014, September 4, 2014 and September 5, 2014, the Company entered into Securities Purchase Agreements (collectively, the “Affiliate Securities Purchase Agreements”) with certain affiliates of the Company and certain persons with whom the Company was required to have a pre-existing relationship (the “Affiliates”) pursuant to which the Company agreed to issue and sell (i) senior convertible notes, in an original aggregate principal amount of $1,069,222 (subsequently reduced to $951,086) (the “Affiliate Notes”), which Affiliate Notes shall be convertible into a certain amount of shares (the “Affiliate Conversion Shares”) of the Company's Common Stock in accordance with the terms of the Affiliate Notes, and (ii) warrants (the “Affiliate Warrants”) to initially acquire up to 48,879 additional shares of Common Stock (subsequently reduced to 42,271 shares) (the “Affiliate Warrant Shares,” and collectively with the Affiliate Notes, the Affiliate Warrants and the Affiliate Conversion Shares, the “Affiliate Securities”) for an aggregate purchase price of $875,000 (representing an approximately 8.7% original issue discount) (the “Affiliate Convertible Notes Offering”). The SOK Note, 31 Group Note and the Affiliate Notes mature on July 23, 2015 (subject to extension as provided in the Notes) and, in addition to the original issue discount, accrue interest at a rate of 12.0 (i) the product of (x) the arithmetic average of the lowest three volume weighted average prices of the Common Stock during the ten consecutive trading days ending and including the trading day immediately preceding the applicable conversion date and (y) 72.5% (or if an event of default has occurred and is continuing, 70%), and (ii) $11.25 (as adjusted for stock splits, stock dividends, recapitalizations or similar events). On September 30, 2014, the SOK Note, 31 Group Note and the Affiliate Notes had a combined amortization of $ 250,494 103,088 40,000 40,000 In October 2014, the 31 Group LLC converted $ 40,000 80,000 On November 18, 2014, one of the other affiliate investors converted their entire note totaling $ 280,615.81 On December 31, 2014, the SOK Note, 31 Group Note and the Affiliates Note had a combined amortization of $ 137,470 56,627 |
LOSS PER SHARE
LOSS PER SHARE | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
LOSS PER SHARE [Abstract] | ||
LOSS PER SHARE | NOTE 5 - LOSS PER SHARE The following table presents the shares used in the basic and diluted loss per common share computations: Three Months Ended Six Months Ended 2015 2014 2015 2014 Numerator: Net loss available in basic and diluted calculation $ (1,185,327 ) $ (1,735,954 ) $ (1,411,122 ) $ (3,352,949 ) Denominator: Weighted average common shares outstanding-basic 3,263,356 2,968,279 3,182,706 2,958,965 Effect of diluted stock options and warrants (1) - - - - Weighted average common shares outstanding-basic 3,263,356 2,968,279 3,182,706 2,958,965 Loss per common share basic and diluted $ (0.36 ) $ (0.58 ) $ (0.44 ) $ (1.13 ) (1) The number of shares underlying options and warrants outstanding as of June 30, 2015 and June 30, 2014 are 1,133,856 and 847,848 respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive. | NOTE 5 - LOSS PER SHARE The following table presents the shares used in the basic and diluted loss per common share computations: Year Ended December 31, 2014 2013 Numerator: Net loss available in basic and diluted calculation $ (6,833,568 ) $ (9,406,304 ) Denominator: Weighted average common shares outstanding-basic 2,990,471 2,026,115 Effect of dilutive stock options and warrants (1) - - Weighted average common shares outstanding-diluted 2,990,471 2,026,115 Loss per common share-basic and diluted $ (2.29 ) $ (4.64 ) (1) The number of shares underlying options and warrants outstanding as of December 31, 2014 and December 31, 2013 are 949,323 847,777 |
INCOME TAXES
INCOME TAXES | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
INCOME TAXES [Abstract] | ||
INCOME TAXES | NOTE 6 – INCOME TAXES 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. There is no income tax provision in the accompanying statements of operations due to the cumulative operating losses that indicate a 100 During September 2013, the Company experienced an "ownership change" as defined in Section 382 of the Internal Revenue Code which could potentially limit the ability to utilize the Company's net operating losses (NOLs). The general limitation rules allow the Company to utilize its NOLs subject to an annual limitation that is determined by multiplying the federal long-term tax-exempt rate by the Company's value immediately before the ownership change. At June 30, 2015, the Company had approximately $ 19.9 beginning in 2022 12.4 2022 through 2034 8.1 1.0 The valuation allowance has been recorded due to the uncertainty of realization of the benefits associated with the net operating losses. Future events and changes in circumstances could cause this valuation allowance to change. The components of deferred income taxes at June 30, 2015 and December 31, 2014 are as follows: March 31, December 31, 2015 2014 Deferred Tax Asset: Net Operating Loss $ 7,919,000 $ 7,919,000 Other 1,150,000 1,150,000 Total Deferred Tax Asset 9,069,000 9,069,000 Less Valuation Allowance 9,069,000 9,069,000 Net Deferred Income Taxes $ — $ — | NOTE 6– INCOME TAXES 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. There is no income tax provision in the accompanying statements of operations due to the cumulative operating losses that indicate a 100 During September 2013, the Company experienced an "ownership change" as defined in Section 382 of the Internal Revenue Code which could potentially limit the ability to utilize the Company's net operating losses (NOLs). The general limitation rules allow the Company to utilize its NOLs subject to an annual limitation that is determined by multiplying the federal long-term tax-exempt rate by the Company's value immediately before the ownership change. At December 31, 2013, the Company had approximately $ 13.0 beginning in 2022 13.6 2022 through 2033 6.0 1.2 At December 31, 2014, the Company had approximately $ 18.7 beginning in 2022 12.4 2022 through 2034 8.1 1.0 The valuation allowance has been recorded due to the uncertainty of realization of the benefits associated with the net operating losses. Future events and changes in circumstances could cause this valuation allowance to change. The components of deferred income taxes at December 31, 2014 and December 31, 2013 are as follows: December 31, 2014 2013 Deferred Tax Asset: Net Operating Loss $ 7,919,000 $ 3,259,000 Other 1,150,000 59,000 Total Deferred Tax Asset 9,069,000 3,318,000 Less Valuation Allowance 9,069,000 3,318,000 Net Deferred Income Taxes $ — $ — |
RENT OBLIGATION
RENT OBLIGATION | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
RENT OBLIGATION [Abstract] | ||
RENT OBLIGATION | NOTE 7 – RENT OBLIGATION The Company leases its principal office under a lease that can be cancelled after three years with proper notice per the lease and an amortized schedule of adjustments that will be due to the landlord. The lease extends five 15,823 34,256 15,447 33,056 The Company's rent obligation for the next five years is as follows: 2015 $ 18,500 2016 $ 38,000 2017 $ 39,000 2018 $ 3,600 2019 $ - | NOTE 7 – RENT OBLIGATION The Company leases its principal office under a lease that can be cancelled after three years with proper notice per the lease and an amortized schedule of adjustments that will be due to the landlord. The lease extends five 64,753 61,150 The Company's rent obligation for the next four years are as follows: 2015 $ 37,000 2016 $ 38,000 2017 $ 39,000 2018 $ 3,000 |
LIABILITY FOR EQUITY-LINKED FIN
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS [Abstract] | ||
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS | NOTE 8 – LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS The Company adopted ASC 815- Derivatives and Hedging (“ASC 815”) on January 1, 2009. ASC 815 mandates a two-step process for evaluating whether an equity-linked financial instrument or embedded feature is indexed to the entity's own stock. It was effective for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years, which was the Company's first quarter of 2009. Many of the warrants issued by the Company contain a strike price adjustment feature, which upon adoption of ASC 815, changed the classification (from equity to liability) and the related accounting for warrants with a $ 479,910 486,564 6,654 479,910 The January 1, 2009 valuation was computed using the Black-Scholes valuation model based upon a 2.5 63 34.50 26.25 1.37 were valued, using the Black-Scholes valuation model on their date of grant and an entry was made to reduce paid-in capital and increase the liability for equity-linked financial instruments. These warrants were also re-valued at the end of each quarter based upon their expected life, the stock price, the exercise price, assumed dividend rate, expected volatility and risk free interest rate. A significant reduction in the liability was realized in 2010 primarily due to a reduction from $ 37.50 16.50 In 2014, all warrants expired and the liability was reduced to zero . The inputs to the Black-Scholes model during 2009 through 2014 were as follows: Stock price $ 3.75 37.50 Exercise price $ .75 26.613 Expected life 2.0 6.5 Expected volatility 59 % Assumed dividend rate - % Risk-free interest rate .13 2.97 The original valuations, annual gain /( loss) and end of year valuations are shown below: Initial Annual Value at 2010 Gain Value at 2011 Gain Value at 12/31/2011 2012 Gain Value at 12/31/2012 2013 Gain (Loss) Value 2014 Gain (Loss) Value at 12/31/2014 January 1, 2009 adoption $ $ (390,368 $ 870,278 $ $ $ (88,290 $ 89,796 $ (21,856 $ 111,652 $ 100,053 $ 11,599 $ 11,599 $ - Warrants issued in quarter ended 6/30/2009 169,854 149,007 147,403 1,604 (4,689 6,293 6,293 - - - - - Warrants issued in quarter ended 9/30/2009 39,743 40,419 62 (1,562 1,624 910 714 714 - - - Warrants issued in quarter ended 12/31/2009 12,698 617 12,081 12,053 28 (724) 752 415 337 337 - - - Subtotal 702,205 1,071,847 Warrants issued in quarter ended 3/31/2010 25,553 25,014 539 (5,570 6,109 3,701 2,408 2,408 - - - Warrants issued in quarter ended 6/30/2010 31,332 30,740 592 (6,122 6,714 6,083 631 631 - - - Warrants issued in quarter ended 9/30/2010 31,506 20,891 10,615 (44,160 54,775 1,338 53,437 53,437 - - - Total $ 790,596 $ (369,642 $ $ $ 14,946 $ (151,117 $ 166,063 $ (3,116 $ 169,179 $ 157,580 $ 11,599 $ 11,599 $ - | NOTE 8 – LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS The Company adopted ASC 815- Derivatives and Hedging (“ASC 815”) on January 1, 2009. ASC 815 mandates a two-step process for evaluating whether an equity-linked financial instrument or embedded feature is indexed to the entity's own stock. It was effective for fiscal years beginning after December 15, 2008, and interim periods within those fiscal years, which was the Company's first quarter of 2009. Many of the warrants issued by the Company contain a strike price adjustment feature, which upon adoption of ASC 815, changed the classification (from equity to liability) and the related accounting for warrants with a $ 479,910 486,564 6,654 479,910 The January 1, 2009 valuation was computed using the Black-Scholes valuation model based upon a 2.5-year expected term, an expected volatility of 63 34.50 26.25 1.37 37.50 16.50 The inputs to the Black-Scholes model during 2009 through 2014 were as follows: Stock price $ 3.75 37.50 Exercise price $ .75 24.38 Expected life 2.0 6.5 Expected volatility 59% Assumed dividend rate - Risk-free interest rate .13 2.97 The original valuations, annual gain (loss) and end of year valuations are shown below: Initial Annual Value at 2010 Value at 2011 Value at 12/31/2011 2012 (Loss) Value at 2013 (Loss) Value at 2014 (Loss) Value at 12/31/2014 January 1, 2009 adoption $ 479,910 $ (390,368 ) $ 870,278 $ 868,772 $ 1,506 $ (88,290 ) $ 89,796 $ (21,856 ) $ 111,652 $ 100,053 $ 11,599 $ 11,599 $ - Warrants issued in quarter ended 6/30/2009 169,854 20,847 149,007 147,403 1,604 (4,689 ) 6,293 6,293 - - - - - Warrants issued in quarter ended 9/30/2009 39,743 (738 ) 40,481 40,419 62 (1,562 ) 1,624 910 714 714 - - - Warrants is used in quarter ended 12/31/2009 12,698 617 12,081 12,053 28 (724 ) 752 415 337 337 - - - Subtotal 702,205 1,071,847 Warrants issued in quarter ended 3/31/2010 25,553 25,014 539 (5,570 ) 6,109 3,701 2,408 2,408 - - - Warrants issued in quarter ended 6/30/2010 31,332 30,740 592 (6,122 ) 6,714 6,083 631 631 - - - Warrants issued in quarter ended 9/30/2010 31,506 20,891 10,615 (44,160 ) 54,775 1,338 53,437 53,437 - - - Total $ 790,596 $ (369,642 ) $ 1,071,847 $ 1,145,292 $ 14,946 $ (151,117 ) $ 166,063 $ (3,116 ) $ 169,179 $ 157,580 $ 11,599 $ 11,599 $ - |
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
RELATED PARTY TRANSACTIONS [Abstract] | ||
RELATED PARTY TRANSACTIONS | NOTE 9 – RELATED PARTY TRANSACTIONS The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company may be a party prior to their implementation, to assess whether such transactions meet applicable legal requirements. Rick Koenigsberger, a director, is a holder of membership units in SOK Partners. Convertible Note Issuances to Dr. Samuel Herschkowitz and SOK Partners, LLC On September 11, 2013, both the Herschkowitz Note and the SOK Note (each as defined below in this Note 9) were converted in full by the holders thereof at $ 0.014 314,484 299,509 680,444 648,050 The remaining disclosure of this Note 9 provides historical information regarding the Herschkowitz Note, the SOK Note and certain other convertible note issuances. On March 28, 2012, the Company, entered into a Convertible Note Purchase Agreement, dated as of March 28, 2012 (the “SOK Purchase Agreement”) with SOK Partners, LLC (“SOK Partners”), and an investment partnership. Josh Kornberg, who is the Company's Chief Executive Officer and interim Chairman of the Board, and Dr. Samuel Herschkowitz are affiliates of the manager of SOK Partners and Ricardo Koenigsberger, a director, is a holder of membership units of SOK Partners. Pursuant to the SOK Purchase Agreement, the Company issued a 20.0 600,000 24 On March 28, 2012, the Company received an advance of $ 84,657 60,000 300,000 4.88 61,539 300,000 61,539 300,000 600,000 357,282 As long as any amount payable under the SOK Note remained outstanding, SOK Partners or its designee were entitled to appoint a new member to the Company's Board of Directors, to be appointed upon request. Ricardo Koenigsberger was appointed to the Board by SOK Partners on June 25, 2012. On March 28, 2012, the Company signed an Amended and Restated Note Purchase Agreement, dated as of December 20, 2011, with Dr. Samuel Herschkowitz (as amended, the “Herschkowitz Purchase Agreement”). Pursuant to the Herschkowitz Purchase Agreement, the Company issued a 20.0 240,000 20,623 As long as any amount payable under the Herschkowitz Note remained outstanding, Dr. Herschkowitz or his designee was entitled to appoint a special advisor to the Company's Board of Directors, to be appointed as a member of the Board upon request. Pursuant to this authority, Josh Kornberg was appointed to the Board on March 9, 2012. In addition, pursuant to this authority, Mr. Koenigsberger was appointed to the Board on June 25, 2012. Pursuant to a letter dated April 20, 2012, Dr. Herschkowitz advised the Company of the occurrence of numerous events of default under the terms of the Herschkowitz Note and the Herschkowitz Note Purchase Agreement. As a result of such events of default, Dr. Herschkowitz asserted significant rights as a secured creditor of the Company, including his rights as a secured creditor with a security interest in substantially all assets of the Company. Without a settlement relating to the defaults and other matters, Dr. Herschkowitz could have taken action to levy upon the Company's assets, including patents and other intellectual property. In addition, the Company and Atlantic Partners Alliance LLC (“APA”) were parties to a letter agreement dated March 14, 2012, providing APA and its affiliates (including Dr. Herschkowitz and SOK) with rights to avoid dilution relating to additional issuances of equity securities by the Company through July 14, 2012, evidencing the parties' intent that APA would be provided with significant protection against dilution. This protection was in recognition of APA's investments in the Company involving a high degree of risk and the Company's contemplated need for restructuring its indebtedness, which were anticipated to result, and have resulted, in significant dilution. The parties acknowledged that Dr. Herschkowitz and SOK would not have made their historical cash investments in the Company to the same degree had the dilution protection not been provided, and the investments by these parties have enabled the Company to avoid insolvency. Since the respective dates of the Herschkowitz Note Purchase Agreement and the SOK Note Purchase Agreement, the Company has issued in excess of 213,334 Effective August 15, 2012, the Company entered into a letter agreement with Dr. Herschkowitz, APA and SOK (the “Forbearance Agreement”). Under the Forbearance Agreement, among other things, (i) Dr. Herschkowitz agreed to forbear from asserting his rights as a secured creditor to substantially all of the Company's assets, resulting from the Company's defaults; (ii) the Company issued an aggregate 353,334 1.05 4.88 In the Forbearance Agreement, Dr. Herschkowitz agreed to forbear from exercising any of his rights arising under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement with respect to the existing defaults against the Company, subject to the limitations set forth in the letter agreement and without releasing or waiving any future breach of the letter agreement. He further agreed to forbear from exercising any rights with respect to events of default, security interests in the collateral and other similar remedies against the Company or his interests under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement until the occurrence of an event of default under the Herschkowitz Note: (a) that does not constitute an existing default; and (b) occurs and accrues after the effective date of the letter agreement. Dr. Herschkowitz and the Company acknowledged that 100,000 20 24 20 Under the Forbearance Agreement, the Herschkowitz Note and the SOK Note were amended as follows: (i) the due dates of the notes were extended to December 31, 2012 from the previous due dates of June 20, 2012 and August 28, 2012, respectively; (ii) Dr. Herschkowitz will release his security agreement after payment of all currently outstanding promissory notes to parties other than SOK; and (iii) the Herschkowitz Note was amended to add certain events of default relating to judgments against the Company or other creditors taking action with respect to the collateral. In consideration of the extension additional milestone fees were revised as described below. Pursuant to a Forbearance and Settlement Agreement with these parties dated August 15, 2012, as subsequently amended, the due date of these notes were extended to August 31, 2013 APA and its affiliates agreed to terminate the letter agreement regarding dilution dated March 14, 2012. In consideration of the various provisions of the letter agreement and in recognition of the understanding of the parties regarding dilution and the agreements of APA and its affiliates to forbear and to extend the due dates of the notes, the Company (i) issued 176,667 176,667 1.05 4.88 In the event that the Company consummated the following series of transactions on or prior to June 30, 2013: (i) a merger or similar transaction with a public shell company, (ii) raising between $ 2 4 listing the Company's shares on NASDAQ pursuant to an underwritten offering of the Company's securities resulting in gross proceeds of between $5 million and $30 million, then the Company would have been required to deliver to Dr. Herschkowitz the following compensation: (A) $75,000 upon consummating the shell merger, (B) $150,000 upon consummating the qualifying financing round; and (C) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $1,000,000. The Company was also required to reimburse Dr. Herschkowitz at his actual out-of-pocket cost for reasonable expenses incurred in connection with the shell transactions, with a maximum limit of $10,000 for such expenses. In connection with the extension of the due date for the Herschkowitz Note and the SOK Note on March 6, 2013, the milestone fees were revised. The following fees were payable to Dr. Herschkowitz in the event that the Company consummates the following series of transactions on or prior to December 31, 2013: (i) financing raising not less than $1 million, compensation of $75,000; (ii) a going private transaction, compensation of $200,000; and (iii) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $3,000,000. In May 2013 Dr. Herschkowitz received $75,000 after the Company surpassed raising $1 million. On January 6, 2014 a side-letter to the forbearance agreement was signed between Dr. Herschkowitz and the Company. Skyline agreed that the private offering for its Series A Convertible Preferred Stock, plus any future offering of any class of its preferred stock, shall be considered a NASDAQ underwriting for purposes of Section 8(e) of the Forbearance Agreement. As such Dr. Herschkowitz received $200,000 or 3% of the gross proceeds of any such offering per the terms of Section 8(e) of the Forbearance Agreement. In addition, any listing of the Company's shares on the New York Stock Exchange shall qualify as a NASDAQ underwriting under the Forbearance Agreement. For the avoidance of doubt, the payment in the aggregate for all offerings qualifying as a NASDAQ underwriting shall under no circumstances be less than $200,000 or greater than $1,000,000. Section 8(e) of the Forbearance Agreement will apply to any transactions consummated by Skyline on or before June 30, 2014. As a result of the transactions under the Forbearance Agreement and other investments, Dr. Herschkowitz, SOK and their affiliates currently own shares of common stock and securities representing beneficial ownership of approximately 49% of the Company's outstanding common stock, giving such parties significant control over election of the Board of Directors and other matters. On November 6, 2012, the Company issued and sold convertible promissory notes in the total principal amount of $ 156,243 The Company issued to these parties an aggregate 20,833 20 155,000 Such notes were converted in April 2013 into 13,889 7.50 In December 2013 the Company received an additional $ 300,000 February 28, 2014 10 10 250,000 20,000 20 305,589.04 In connection with the sale of the Preferred Shares on February 4, 2014 as described in Note 3, Josh Kornberg, our CEO, was one of the Purchasers. Mr. Kornberg purchased 19,231 25,000 52 122,196 5,431 100,000 8.7 108,696 4,831 140 | NOTE 9 - RELATED PARTY TRANSACTIONS The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company may be a party prior to their implementation, to assess whether such transactions meet applicable legal requirements. Convertible Note Issuances to Dr. Samuel Herschkowitz and SOK Partners, LLC On September 11, 2013, both the Herschkowitz Note and the SOK Note (each as defined below in this Note 9) were converted in full by the holders thereof at $ 0.014 314,484 299,509 680,444 648,050 The remaining disclosure of this Note 9 provides historical information regarding the Herschkowitz Note, the SOK Note and certain other convertible note issuances. On March 28, 2012, the Company, entered into a Convertible Note Purchase Agreement, dated as of March 28, 2012 (the “SOK Purchase Agreement”) with SOK Partners, LLC (“SOK Partners”), and an investment partnership. Josh Kornberg, who is a member of the Company's Board of Directors, and Dr. Samuel Herschkowitz are affiliates of the manager of SOK Partners. Pursuant to the SOK Purchase Agreement, the Company issued a 20.0 600,000 24 On March 28, 2012, the Company received an advance of $ 84,657 60,000 300,000 4.88 61,539 300,000 61,539 300,000 357,282 As long as any amount payable under the SOK Note remains outstanding, SOK Partners or its designee is entitled to appoint a new member to the Company's Board of Directors, who will be appointed upon request. Mr. Koenigsberger was appointed to the Board by SOK Partners on June 25, 2012. On March 28, 2012, the Company signed an Amended and Restated Note Purchase Agreement, dated as of December 20, 2011, with Dr. Samuel Herschkowitz (as amended, the “Herschkowitz Purchase Agreement”). Pursuant to the Herschkowitz Purchase Agreement, the Company issued a 20.0 240,000 20,623 100,000 As long as any amount payable under the Herschkowitz Note remains outstanding, Dr. Herschkowitz or his designee is entitled to appoint a special advisor to the Company's Board of Directors, to be appointed as a member upon request. Pursuant to this authority, Josh Kornberg was appointed to the Board on March 9, 2012. In addition, pursuant to this authority, Mr. Koenigsberger was appointed to the Board on June 25, 2012. Pursuant to a letter dated April 12, 2012, Dr. Herschkowitz advised the Company of the occurrence of numerous events of default under the terms of the Herschkowitz Note and the Herschkowitz Note Purchase Agreement. As a result of such events of default, Dr. Herschkowitz asserted significant rights as a secured creditor of the Company, including his rights as a secured creditor with a security interest in substantially all assets of the Company. Without a settlement relating to the defaults and other matters, Dr. Herschkowitz could have taken action to levy upon the Company's assets, including patents and other intellectual property. In addition, the Company and Atlantic Partners Alliance LLC (“APA”) were parties to a letter agreement dated March 14, 2012, providing APA and its affiliates (including Dr. Herschkowitz and SOK) with rights to avoid dilution relating to additional issuances of equity securities by the Company through July 14, 2012, evidencing the parties' intent that APA would be provided with significant protection against dilution. This protection was in recognition of APA's investments in the Company involving a high degree of risk and the Company's contemplated need for restructuring its indebtedness, which were anticipated to result, and have resulted, in significant dilution. The parties acknowledged that Dr. Herschkowitz and SOK would not have made their historical cash investments in the Company to the same degree had the dilution protection not been provided, and the investments by these parties have enabled the Company to avoid insolvency. Since the respective dates of the Herschkowitz Note Purchase Agreement and the SOK Note Purchase Agreement, the Company had issued in excess of 213,334 Effective August 15, 2012, the Company entered into a letter agreement with Dr. Herschkowitz, APA and SOK (the “Forbearance Agreement”). Under the Forbearance Agreement, among other things, (i) Dr. Herschkowitz agreed to forbear from asserting his rights as a secured creditor to substantially all of the Company's assets, resulting from the Company's defaults; (ii) the Company issued an aggregate 353,334 1.05 4.88 In the Forbearance Agreement, Dr. Herschkowitz agreed to forbear from exercising any of his rights arising under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement with respect to the existing defaults against the Company, subject to the limitations set forth in the letter agreement and without releasing or waiving any future breach of the letter agreement. He further agreed to forbear from exercising any rights with respect to events of default, security interests in the collateral and other similar remedies against the Company or his interests under the Herschkowitz Note or the Herschkowitz Note Purchase Agreement until the occurrence of an event of default under the Herschkowitz Note: (a) that does not constitute an existing default; and (b) occurs and accrues after the date of the letter agreement. Dr. Herschkowitz and the Company acknowledged that 100,000 shares of the Company's common stock, constituting the “penalty shares” under the Herschkowitz Note Purchase Agreement, were delivered to Dr. Herschkowitz in April 2012 as provided in the Herschkowitz Note Purchase Agreement upon an event of default. Notwithstanding a provision that would have increased the rate of interest from 20 24 20 Under the Forbearance Agreement, the Herschkowitz Note and the SOK Note were amended as follows: (i) the due dates of the notes were extended to December 31, 2012 from the previous due dates of June 20, 2012 and August 28, 2012, respectively; (ii) Dr. Herschkowitz will release his security agreement after payment of all currently outstanding promissory notes to parties other than SOK; and (iii) the Herschkowitz Note was amended to add certain events of default relating to judgments against the Company or other creditors taking action with respect to the collateral. In consideration of the extension additional milestone fees were revised as described below. Pursuant to a Forbearance and Settlement Agreement with these parties dated August 15, 2012, as subsequently amended, the due date of these notes were extended to August 31, 2013. APA and its affiliates agreed to terminate the letter agreement regarding dilution dated March 14, 2012. In consideration of the various provisions of the letter agreement and in recognition of the understanding of the parties regarding dilution and the agreements of APA and its affiliates to forbear and to extend the due dates of the notes, the Company (i) issued 176,667 176,667 1.05 4.88 In the event that the Company consummated the following series of transactions on or prior to June 30, 2013: (i) a merger or similar transaction with a public shell company, (ii) raising between $2 million and $4 million through an offering of the securities of the public shell company concurrent with or subsequent to the shell merger; and (iii) listing the Company's shares on NASDAQ pursuant to an underwritten offering of the Company's securities resulting in gross proceeds of between $ million and $ million, then the Company would have to be required to deliver to Dr. Herschkowitz the following compensation: (A) $ upon consummating the shell merger, (B) $ upon consummating the qualifying financing round; and (C) % of the gross proceeds of the NASDAQ underwriting, which payment shall under circumstances be less than $ or greater than $ . The Company was also required to reimburse Dr. Herschkowitz at his actual out-of-pocket cost for reasonable expenses incurred in connection with the shell transactions, with a maximum limit of $ for such expenses. In connection with the extension of the due date for the Herschkowitz Note and the SOK Note on March 6, 2013, the milestone fees were revised. The following fees were payable to Dr. Herschkowitz in the event that the Company consummates the following series of transactions on or prior to December 31, 2013: (i) financing raising not less than $ million, compensation of $ ; (ii) a going private transaction, compensation of $ or greater; and (iii) % of the gross proceeds of the NASDAQ underwriting, which payment shall under circumstances be less than $ or greater than $ . In May 2013 Dr. Herschkowitz received $ after the Company surpassed raising $ million. As a result of the transactions under the Forbearance Agreement and other investments, Dr. Herschkowitz, SOK and their affiliates currently own shares of common stock and securities representing beneficial ownership of more than 49% of the Company's outstanding common stock, giving such parties significant control over election of the Board of Directors and other matters. On November 6, 2012, the Company issued and sold convertible promissory notes in the total principal amount of $ 156,243 20,833 20 155,000 13,889 7.50 In December 2013 the Company received an additional $ 300,000 10 10 250,000 20,000 20 305,589.04 In connection with the sale of the Preferred Shares on February 4, 2014 as described in Note 3, Josh Kornberg, our CEO, was one of the Purchasers. Mr. Kornberg purchased 19,231 25,000 52 On July 23, 2014, the Company entered into the SOK Securities Purchase Agreement pursuant to which the Company agreed to issue and sell certain securities to SOK, as described in Note 4 of this Report. |
Retirement Savings Plan
Retirement Savings Plan | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Retirement Savings Plan [Abstract] | ||
Retirement Savings Plan | NOTE 10 – RETIREMENT SAVINGS PLAN We have a pre-tax salary reduction/profit-sharing plan under the provisions of Section 401(k) of the Internal Revenue Code, which covers employees meeting certain eligibility requirements. In fiscal 2015 and 2014, we matched 100 4 6,652 and $ 14,713 for the three and six months ending June 30, 2015 and was $ 8,171 12,304 | NOTE 10 – RETIREMENT SAVINGS PLANS We have a pre-tax salary reduction/profit-sharing plan under the provisions of Section 401(k) of the Internal Revenue Code, which covers employees meeting certain eligibility requirements. In fiscal 2013, and again in 2014, we matched 100 4.0 37,730 32,790 |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
Commitments and Contingencies [Abstract] | ||
Commitments and Contingencies | NOTE 11 – COMMITMENTS AND CONTINGENCIES On July 17, 2014, Skyline Medical Inc. (the “Company”) and a stockholder entered into a settlement agreement and release (the “Settlement Agreement”) with Marshall Ryan (“Ryan”) and a company related to Ryan (together, the “Plaintiffs”). The settlement relates to a previously disclosed lawsuit by the Plaintiffs initiated in March 2014. Ryan is an engineer who previously worked with the Company on design of certain of the Company's products. The lawsuit alleged among other things, breach of a 2008 consulting agreement, a 2006 manufacturing agreement and a 2006 supply agreement among the Plaintiffs and the Company, various claims of fraud and negligent misrepresentation, and breach of the duty of good faith and fair dealing. Under the Settlement Agreement, the parties have agreed that the lawsuit will be dismissed. The Company has agreed to pay Ryan an aggregate of $ 500,000 200,000 Payment of the outstanding balance under the Settlement Agreement will be accelerated if the Company raises $2 million or more of gross dollars in a single funding round or raises aggregate funding of $4 million of gross dollars on or before April 10, 2015 The Settlement Agreement also contains mutual releases covering claims other than a breach of the Settlement Agreement. In the Settlement Agreement, Ryan fully, unconditionally and irrevocably affirms and ratifies the Company's rights to Ryan's prior patent assignments, and disclaims any right, title or interest in the Company's Streamway product including any claims to royalties both past and future. In addition, the parties confirmed that the patents related to the Streamway product belong exclusively to Skyline and remain in full force and effect. On April 27, 2015, the Company entered into a Third Extension of Settlement Agreement (the “Third Extension”) with Ryan and the Plaintiffs. Under the Third Extension the parties have agreed that in consideration for this Memorandum of Understanding Skyline will pay Ryan $ 50,000 18 that if Skyline obtains gross funding, as measured from all its funding and revenue beginning on April 1, 2015, in the amounts specified below, payment shall accelerate as follows: if Skyline obtains gross funding of at least $2,000,000 or more but less than $4,000,000, it shall immediately pay $250,000 to Ryan toward the current balance; if Skyline obtain gross funding of at least $4,000,000 or more, it shall immediately pay any portion of the current balance, third extension payment and interest not already paid. Additionally, incremental payments to be deducted from the current balance will be made in the following amounts: Skyline will pay $15,000 on or before May 29, 2015. Darryl C. Demaray, Brady P. Farrell, Christopher S. Howell and Ronald W. Walters v. Skyline Medical Inc. four | NOTE 11 – COMMITMENTS AND CONTINGENCIES On July 17, 2014, Skyline Medical Inc. (the “Company”) and a stockholder entered into a settlement agreement and release (the “Settlement Agreement”) with Marshall Ryan (“Ryan”) and a company related to Ryan (together, the “Plaintiffs”). The settlement relates to a previously disclosed lawsuit by the Plaintiffs initiated in March 2014. Ryan is an engineer who previously worked with the Company on design of certain of the Company's products. The lawsuit alleged among other things, breach of a 2008 consulting agreement, a 2006 manufacturing agreement and a 2006 supply agreement among the Plaintiffs and the Company, various claims of fraud and negligent misrepresentation, and breach of the duty of good faith and fair dealing. Under the Settlement Agreement, the parties have agreed that the lawsuit will be dismissed. The Company has agreed to pay Ryan an aggregate of $ 500,000 200,000 Payment of the outstanding balance under the Settlement Agreement will be accelerated if the Company raises $ million or more of gross dollars in a single funding round or raises aggregate funding of $ million of gross dollars on or before April 10, 2015. The Settlement Agreement also contains mutual releases covering claims other than a breach of the Settlement Agreement. In the Settlement Agreement, Ryan fully, unconditionally and irrevocably affirms and ratifies the Company's rights to Ryan's prior patent assignments, and disclaims any right, title or interest in the Company's Streamway product including any claims to royalties both past and future. In addition, the parties confirmed that the patents related to the Streamway product belong exclusively to Skyline and remain in full force and effect. |
Supplemental Cash Flow Data
Supplemental Cash Flow Data | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
SUPPLEMENTAL CASH FLOW DATA [Abstract] | ||
Supplemental Cash Flow Data | NOTE 12 – SUPPLEMENTAL CASH FLOW DATA Cash payments for interest were $ 441 10,161 3,468 21,606 | NOTE 12 – SUPPLEMENTAL CASH FLOW DATA Cash payments for interest were $ 47,111 57,281 |
SUMMARY OF SIGNIFICANT ACCOUN20
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ||
Nature of Operations and Continuance of Operations | Nature of Operations and Continuance of Operations Skyline Medical Inc. (the "Company") was incorporated under the laws of the State of Minnesota in 2002. Effective August 6, 2013, the Company changed its name to Skyline Medical Inc. As of December 31, 2014, the registrant had 3,092,766 .01 1-for-75 The accompanying financial statements have been prepared assuming the Company will continue as a going concern. The Company has suffered recurring losses from operations and has a stockholders' deficit. These factors raise substantial doubt about its ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. In September 2014, we filed a registration statement with the SEC in connection with a proposed public offering of common stock and warrants. We continue to pursue this public offering, with the intention of listing our common stock on NASDAQ, and we intend to update the registration statement as soon as possible following the filing of this report. We also are seeking additional financing through one or more private placements of securities. Since inception to December 31, 2014, the Company raised approximately $ 9,168,000 2,055,000 5,435,000 | |
Recent Accounting Developments | Recent Accounting Developments In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers and created a new topic in the FASB Accounting Standards Codification ("ASC"), Topic 606. The new standard provides a single comprehensive revenue recognition framework for all entities and supersedes nearly all existing U.S. GAAP revenue recognition guidance, including industry-specific guidance. The core principle of the revenue model is that an entity should recognize revenue in a manner that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard is designed to create greater comparability for financial statement users across industries and also requires enhanced disclosures. The amendments are effective for annual reporting periods beginning after December 15, 2017, including interim periods within that reporting period. Early application is not permitted. We are currently evaluating the impact this guidance may have on our financial statements and related disclosures. In June 2014, the FASB issued ASU 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 during the year 2014. In June 2014, the FASB issued ASU 2014-12, "Compensation - Stock Compensation" providing explicit guidance on how to account for share-based payments granted to employees in which the terms of the award provide that a performance target that affects vesting could be achieved after the requisite service period. The amendments in this Update are effective for annual periods and interim periods within those annual periods beginning after December 15, 2015. Early adoption is permitted. We are currently evaluating the impact this guidance may have on our financial statements. We reviewed all other significant newly issued accounting pronouncements and determined they are either not applicable to our business or that no material effect is expected on our financial position and results of our operations. | Recent Accounting Developments In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09, Revenue from Contracts with Customers In June 2014, the FASB issued ASU 2014-10, Development Stage Entities Requirements. ASU 2014-10 eliminates the distinction of a development stage entity and certain related disclosure requirements, including the elimination of inception-to-date information on the statements of operations, cash flows and stockholders' equity. The amendments in ASU 2014-10 will be effective prospectively for annual reporting periods beginning after December 15, 2014, and interim periods within those annual periods, however early adoption is permitted. The Company evaluated and adopted ASU 2014-10 during the year 2014. In June 2014, the FASB issued ASU 2014-12, "Compensation - Stock Compensation" We reviewed all other significant newly issued accounting pronouncements and determined they are either not applicable to our business or that no |
Valuation of Intangible Assets | Valuation of Intangible Assets We review identifiable intangible assets for impairment in accordance with ASC 350 — Intangibles —Goodwill and Other, whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Our intangible assets are currently solely the costs of obtaining trademarks and patents. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which we operate. If such events or changes in circumstances are present, the undiscounted cash flows method is used to determine whether the intangible asset is impaired. Cash flows would include the estimated terminal value of the asset and exclude any interest charges. If the carrying value of the asset exceeds the undiscounted cash flows over the estimated remaining life of the asset, the asset is considered impaired, and the impairment is measured by reducing the carrying value of the asset to its fair value using the discounted cash flows method. The discount rate utilized is based on management's best estimate of the related risks and return at the time the impairment assessment is made. | Valuation of Intangible Assets We review identifiable intangible assets for impairment in accordance with ASC 350 — Intangibles —Goodwill and Other, whenever events or changes in circumstances indicate the carrying amount may not be recoverable. Our intangible assets are currently solely the costs of obtaining trademarks and patents. Events or changes in circumstances that indicate the carrying amount may not be recoverable include, but are not limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which we operate. If such events or changes in circumstances are present, the undiscounted cash flows method is used to determine whether the intangible asset is impaired. Cash flows would include the estimated terminal value of the asset and exclude any interest charges. If the carrying value of the asset exceeds the undiscounted cash flows over the estimated remaining life of the asset, the asset is considered impaired, and the impairment is measured by reducing the carrying value of the asset to its fair value using the discounted cash flows method. The discount rate utilized is based on management's best estimate of the related risks and return at the time the impairment assessment is made. The Company wrote off the entire original STREAMWAY FMS product patent of $ 140,588 |
Accounting Policies and Estimates | Accounting Policies and Estimates The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. | Accounting Policies and Estimates The presentation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. |
Presentation Of Taxes Collected From Customers | Presentation of Taxes Collected from Customers Sales taxes are imposed on the Company's sales to nonexempt customers. The Company collects the taxes from customers and remits the entire amounts to the governmental authorities. The Company's accounting policy is to exclude the taxes collected and remitted from revenues and expenses. | Presentation of Taxes Collected from Customers Sales taxes are imposed on the Company's sales to nonexempt customers. The Company collects the taxes from customers and remits the entire amounts to the governmental authorities. The Company's accounting policy is to exclude the taxes collected and remitted from revenues and expenses. |
Shipping and Handling | Shipping and Handling Shipping and handling charges billed to customers are recorded as revenue. Shipping and handling costs are recorded within cost of goods sold on the statement of operations. | Shipping and Handling Shipping and handling charges billed to customers are recorded as revenue. Shipping and handling costs are recorded within cost of goods sold on the statement of operations. |
Advertising | Advertising Advertising costs are expensed as incurred. Advertising expenses were $ 500 1,417 $ 1,250 7,793 June 30, 2014 | Advertising Advertising costs are expensed as incurred. Advertising expenses were $ 19,394 |
Research and Development | Research and Development 58,285 and $ 120,947 2015 and were $ 131,285 249,636 . | Research and Development Research and development costs are charged to operations as incurred. Research and development costs were approximately $394,000 $235,000 |
Revenue Recognition | Revenue Recognition The Company recognizes revenue in accordance with the SEC's Staff Accounting Bulletin Topic 13 Revenue Recognition and ASC 605-Revenue Recognition. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable and collectability is probable. Delivery is considered to have occurred upon either shipment of the product or arrival at its destination based on the shipping terms of the transaction. The Company's standard terms specify that shipment is FOB Skyline and the Company will, therefore, recognize revenue upon shipment in most cases. This revenue recognition policy applies to shipments of the STREAMWAY FMS units as well as shipments of cleaning solution kits. When these conditions are satisfied, the Company recognizes gross product revenue, which is the price it charges generally to its customers for a particular product. Under the Company's standard terms and conditions, there is no provision for installation or acceptance of the product to take place prior to the obligation of the customer. The customer's right of return is limited only to the Company's standard one-year warranty whereby the Company replaces or repairs, at its option, and it would be rare that the STREAMWAY FMS unit or significant quantities of cleaning solution kits may be returned. Additionally, since the Company buys both the STREAMWAY FMS units and cleaning solution kits from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. | Revenue Recognition The Company recognizes revenue in accordance with the SEC's Staff Accounting Bulletin Topic 13 Revenue Recognition and ASC 605- Revenue Recognition. Revenue is recognized when persuasive evidence of an arrangement exists, delivery has occurred, the fee is fixed and determinable and collectability is probable. Delivery is considered to have occurred upon either shipment of the product or arrival at its destination based on the shipping terms of the transaction. The Company's standard terms specify that shipment is FOB Skyline and the Company will, therefore, recognize revenue upon shipment in most cases. This revenue recognition policy applies to shipments of the STREAMWAY FMS units as well as shipments of cleaning solution kits. When these conditions are satisfied, the Company recognizes gross product revenue, which is the price it charges generally to its customers for a particular product. Under the Company's standard terms and conditions, there is no provision for installation or acceptance of the product to take place prior to the obligation of the customer. The customer's right of return is limited only to the Company's standard one-year warranty whereby the Company replaces or repairs, at its option, and it would be rare that the STREAMWAY FMS unit or significant quantities of cleaning solution kits may be returned. Additionally, since the Company buys both the STREAMWAY FMS units and cleaning solution kits from “turnkey” suppliers, the Company would have the right to replacements from the suppliers if this situation should occur. |
Receivables | Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management's assessment of the current status of individual accounts, changes to the valuation allowance have not been material to the financial statements. | Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation based on management's assessment of the current status of individual accounts, changes to the valuation allowance have not been material to the financial statements. |
Inventories | Inventories Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: June 30, December 31, 2015 2014 Finished goods $ 46,845 $ 88,362 Raw materials 200,654 237,556 Work-In-Process 10,169 41,449 Total $ 257,668 $ 367,367 | Inventories Inventories are stated at the lower of cost or market, with cost determined on a first-in, first-out basis. Inventory balances are as follows: December 31, 2014 2013 Finished goods $ 88,362 $ 56,818 Raw materials 237,556 18,603 Work-In-Process 41,449 46,754 Total $ 367,367 $ 122,175 |
Property and Equipment | Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 7 Leasehold improvements 5 Manufacturing tooling 3 7 Demo Equipment 3 The Company's investment in Fixed Assets consists of the following: June 30, 2015 December 31, 2014 Computers and office equipment $ 122,889 $ 123,708 Leasehold improvements 23,874 23,874 Manufacturing tooling 97,288 97,288 Demo Equipment 13,706 30,576 Total 257,757 275,446 Less: Accumulated depreciation 110,514 78,967 Total Fixed Assets, Net $ 147,243 $ 196,479 Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations as incurred. | Property and Equipment Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation of property and equipment is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers and office equipment 3 7 Leasehold improvements 5 Manufacturing Tooling 3 7 Demo Equipment 3 The Company's investment in Fixed Assets consists of the following: December 31, 2014 2013 Computers and office equipment $ 123,708 $ 61,505 Leasehold Improvements 23,874 23,614 Manufacturing Tooling 97,288 89,900 Demo Equipment 30,576 Total 275,446 175,019 Less: Accumulated Depreciation 78,967 16,909 Total Fixed Assets, Net $ 196,479 $ 158,110 Upon retirement or sale, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations as incurred. |
Intangible Assets | Intangible Assets Intangible assets consist of trademarks and patent costs. Amortization expense was $ 1,444 2,888 0 | Intangible Assets Intangible assets consist of trademarks and patent costs. These assets are not subject to amortization until the property patented is in production. The assets are reviewed for impairment annually, and impairment losses, if any, are charged to operations when identified. |
Income Taxes | Income Taxes The Company accounts for income taxes in accordance with ASC 740- Income Taxes (“ASC 740”). Under ASC 740, deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to impact taxable income. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized. The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified no income tax uncertainties. Tax years subsequent to 2011 remain open to examination by federal and state tax authorities. | Income Taxes The Company accounts for income taxes in accordance with ASC 740- Income Taxes (“ASC 740”) The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified no income tax uncertainties. Tax years subsequent to 2011 remain open to examination by federal and state tax authorities. |
Patents and Intellectual Property | Patents and Intellectual Property On January 25 Our PCT patent application is for the new model of the surgical fluid waste management system. We obtained a favorable International Search Report from the PCT searching authority indicating that the claims in our PCT application are patentable (i.e., novel and non-obvious) over the cited prior art. A feature claimed in the PCT application is the ability to maintain continuous suction to the surgical field while measuring, recording and evacuating fluid to the facilities sewer drainage system. This provides for continuous operation of the STREAMWAY System unit in suctioning waste fluids, which means that suction is not interrupted during a surgical operation, for example, to empty a fluid collection container or otherwise dispose of the collected fluid. The Company holds the following granted patents in the United States and a pending application in the United States on its earlier models: US7469727, US8123731 and U.S. Publication No. US20090216205 (collectively, the “Patents”). These Patents will begin to expire on August 8, 2023. | Patents and Intellectual Property On January 25th, 2014 the Company filed a non-provisional PCT Application No. PCT/US2014/013081 claiming priority from the U.S. Provisional Patent Application, number 61756763 which was filed one year earlier on January 25th, 2013. The Patent Cooperation Treaty (“PCT”) allows an applicant to file a single patent application to seek patent protection for an invention simultaneously in each of the 148 countries of the PCT, including the United States. By filing this single “international” patent application through the PCT, it is easier and more cost effective than filing separate applications directly with each national or regional patent office in which patent protection is desired. Our PCT patent application is for the new model of the surgical fluid waste management system. We obtained a favorable International Search Report from the PCT searching authority indicating that the claims in our PCT application are patentable (i.e., novel and non-obvious) over the cited prior art. A feature claimed in the PCT application is the ability to maintain continuous suction to the surgical field while measuring, recording and evacuating fluid to the facilities sewer drainage system. This provides for continuous operation of the STREAMWAY System unit in suctioning waste fluids, which means that suction is not interrupted during a surgical operation, for example, to empty a fluid collection container or otherwise dispose of the collected fluid. The Company holds the following granted patents in the United States and a pending application in the United States on its earlier models: US7469727, US8123731 and U.S. Publication No. US20090216205 (collectively, the “Patents”). These Patents will begin to expire on August 8, 2023. |
Subsequent Events | Subsequent Events As described in Note 3 below, on July 24, 2015, the Company amended its Certificate of Incorporation, pursuant to which the authorized common stock was increased to 100,000,000 20,000,000 On February 4, 2014, the Company raised $ 2,055,000 20,550 0.01 100 In connection with the Company's proposed offering of 1,666,667 9.00 228,334 84,770 From July through September 2014, the Company entered into a series of securities purchase agreements pursuant to which the Company issued approximately $ 1.8 1.6 275,000 927,663 933,073 140% 1.4 167,031 |
SUMMARY OF SIGNIFICANT ACCOUN21
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2015 | Dec. 31, 2014 | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | ||
Schedule of inventory | June 30, December 31, 2015 2014 Finished goods $ 46,845 $ 88,362 Raw materials 200,654 237,556 Work-In-Process 10,169 41,449 Total $ 257,668 $ 367,367 | December 31, 2014 2013 Finished goods $ 88,362 $ 56,818 Raw materials 237,556 18,603 Work-In-Process 41,449 46,754 Total $ 367,367 $ 122,175 |
Schedule of property, plant and equipment | Years Computers and office equipment 3 7 Leasehold improvements 5 Manufacturing tooling 3 7 Demo Equipment 3 | Years Computers and office equipment 3 7 Leasehold improvements 5 Manufacturing Tooling 3 7 Demo Equipment 3 |
Schedule of investment in fixed Assets | June 30, 2015 December 31, 2014 Computers and office equipment $ 122,889 $ 123,708 Leasehold improvements 23,874 23,874 Manufacturing tooling 97,288 97,288 Demo Equipment 13,706 30,576 Total 257,757 275,446 Less: Accumulated depreciation 110,514 78,967 Total Fixed Assets, Net $ 147,243 $ 196,479 | December 31, 2014 2013 Computers and office equipment $ 123,708 $ 61,505 Leasehold Improvements 23,874 23,614 Manufacturing Tooling 97,288 89,900 Demo Equipment 30,576 Total 275,446 175,019 Less: Accumulated Depreciation 78,967 16,909 Total Fixed Assets, Net $ 196,479 $ 158,110 |
STOCKHOLDERS' DEFICIT, STOCK 22
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS [Abstract] | ||
Summary of Transactions for Stock Options and Warrants | Stock Options Warrants Average Average Number of Exercise Number of Exercise Shares Price Shares Price Outstanding at December 31, 2013 385,733 $ 6.75 461,920 $ 10.50 Issued 75,683 8.12 161,375 3.81 Expired (7,879 ) 23.58 (81,851 ) 13.54 Exercised (4,936 ) 1.76 (40,722 ) 8.38 Outstanding at December 31, 2014 448,601 $ 7.51 500,722 $ 7.95 Issued 66,926 3.14 126,310 13.49 Expired (7,136 ) 13.55 (1,567) 14.04 Exercised - - - - Outstanding at June 30, 2015 508,391 $ 6.96 625,465 $ 9.06 | Stock Options Warrants Average Average Number of Exercise Number of Exercise Shares Price Shares Price Outstanding at December 31, 2012 168,856 $ 6.75 468,431 $ 9.75 Issued 239,816 6.75 343,196 9.00 Expired (15,467 ) 18.00 (111,025 ) 13.50 Exercised (7,472 ) 0.75 (238,682 ) 8.25 Outstanding at December 31, 2013 385,733 $ 6.75 461,920 $ 10.50 Issued 75,683 8.12 161,375 3.81 Expired (7,879 ) 23.58 (81,851 ) 13.54 Exercised (4,936 ) 1.76 (40,722 ) 8.38 Outstanding at December 31, 2014 448,601 $ 7.51 500,722 $ 7.95 |
Summary of Status of Options and Warrants Outstanding | Range of Prices Shares Weighted Options $ 0.75 7,333 6.02 $ 3.10 59,681 10.00 $ 3.45 7,245 9.76 $ 4.875 134 7.70 $ 5.25 2,031 7.19 $ 5.625 192,000 7.71 $ 5.925 23,206 7.72 $ 6.00 123,998 7.13 $ 6.50 3,845 9.51 $ 6.60 5,332 6.57 $ 8.25 3,636 9.26 $ 9.9375 3,019 8.04 $ 10.50 3,238 8.04 $ 11.25 13,666 7.60 $ 12.75 3,401 8.29 $ 13.875 2,160 8.76 $ 15.00 3,334 8.72 $ 17.25 40,261 8.69 $ 18.75 3,334 8.65 $ 20.25 4,940 8.51 $ 21.75 1,336 8.28 $ 23.85 1,260 8.26 Total 508,391 Warrants $ 0.75 400 0.44 $ 6.00 102,857 2.71 $ 9.00 2,666 2.58 $ 9.75 155,545 4.10 $ 11.25 203,801 2.52 $ 12.375 71,257 4.11 $ 12.38 5,557 4.36 $ 13.50 4,444 2.97 $ 14.85 23,612 2.92 $ 20.25 1,481 3.63 $ 24.375 53,845 3.60 Total 625,465 | Range of Exercise Prices Shares Weighted Average Remaining Life Options: $ 0.75 7,333 6.52 $ 4.875 134 8.20 $ 5.25 2,031 7.62 $ 5.625 192,000 8.21 $ 5.925 23,206 8.22 $ 6.00 123,998 7.63 $ 6.50 3,845 10.00 $ 6.60 5,332 7.07 $ 8.25 3,636 9.76 $ 9.9375 3,019 8.54 $ 10.50 3,238 8.54 $ 11.25 13,666 8.08 $ 12.75 10,069 9.29 $ 13.875 2,160 9.25 $ 15.00 3,334 9.22 $ 17.25 40,261 9.19 $ 18.75 3,335 9.15 $ 20.25 4,940 9.01 $ 21.75 1,336 8.77 $ 23.85 1,260 8.75 $ 24.75 334 8.73 $ 25.6125 134 8.49 Total 448,601 Warrants: $ 0.75 400 0.94 $ 6.00 102,857 3.20 $ 9.00 2,666 3.07 $ 11.25 204,200 3.02 $ 12.375 71,257 4.61 $ 12.38 5,557 4.85 $ 13.50 4,444 3.47 $ 14.85 23,612 3.41 $ 15.00 1,168 0.09 $ 20.25 1,481 4.13 $ 24.375 83,080 4.46 Total 500,722 |
Schedule of Listing of Stock Options and Warrants | Stock Options: Year Shares Price 2011 11,666 $ 0.75 2012 126,029 5.25 6.00 2013 238,088 4.875 23.85 2014 65,681 6.50 18.75 2015 66,926 3.10 3.45 Total 508,391 $ .75 25.613 Warrants: Year Shares Price 2010 400 0.75 2011 - - 2012 69,801 11.25 2013 267,579 6.00 14.85 2014 161,375 12.375 24.375 2015 126,310 $ 9.75 24.375 Total 625,465 $ 0.75 24.375 | Stock Options: Year Shares Price 2011 11,666 $ .75 2012 126,029 5.25 6.00 2013 238,556 4.875 25.613 2014 72,350 6.50 18.75 Total 448,601 $ .75 25.613 Warrants: Year Shares Price 2010 400 .75 2012 71,368 11.25 15.00 2013 267,579 6.00 14.85 2014 161,375 $ 12.375 24.375 Total 500,722 $ .75 24.375 |
LOSS PER SHARE (Tables)
LOSS PER SHARE (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
LOSS PER SHARE [Abstract] | ||
Schedule of Shares Used in Basic and Diluted Loss Per Common Share Computations | Three Months Ended Six Months Ended 2015 2014 2015 2014 Numerator: Net loss available in basic and diluted calculation $ (1,185,327 ) $ (1,735,954 ) $ (1,411,122 ) $ (3,352,949 ) Denominator: Weighted average common shares outstanding-basic 3,263,356 2,968,279 3,182,706 2,958,965 Effect of diluted stock options and warrants (1) - - - - Weighted average common shares outstanding-basic 3,263,356 2,968,279 3,182,706 2,958,965 Loss per common share basic and diluted $ (0.36 ) $ (0.58 ) $ (0.44 ) $ (1.13 ) (1) The number of shares underlying options and warrants outstanding as of June 30, 2015 and June 30, 2014 are 1,133,856 and 847,848 respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive. | Year Ended December 31, 2014 2013 Numerator: Net loss available in basic and diluted calculation $ (6,833,568 ) $ (9,406,304 ) Denominator: Weighted average common shares outstanding-basic 2,990,471 2,026,115 Effect of dilutive stock options and warrants (1) - - Weighted average common shares outstanding-diluted 2,990,471 2,026,115 Loss per common share-basic and diluted $ (2.29 ) $ (4.64 ) (1) The number of shares underlying options and warrants outstanding as of December 31, 2014 and December 31, 2013 are 949,323 847,777 |
INCOME TAXES (Tables)
INCOME TAXES (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
INCOME TAXES [Abstract] | ||
Schedule of Components of Deferred Income Taxes | March 31, December 31, 2015 2014 Deferred Tax Asset: Net Operating Loss $ 7,919,000 $ 7,919,000 Other 1,150,000 1,150,000 Total Deferred Tax Asset 9,069,000 9,069,000 Less Valuation Allowance 9,069,000 9,069,000 Net Deferred Income Taxes $ — $ — | December 31, 2014 2013 Deferred Tax Asset: Net Operating Loss $ 7,919,000 $ 3,259,000 Other 1,150,000 59,000 Total Deferred Tax Asset 9,069,000 3,318,000 Less Valuation Allowance 9,069,000 3,318,000 Net Deferred Income Taxes $ — $ — |
RENT OBLIGATION (Tables)
RENT OBLIGATION (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
RENT OBLIGATION [Abstract] | ||
Schedule of Rent Obligation | 2015 $ 18,500 2016 $ 38,000 2017 $ 39,000 2018 $ 3,600 2019 $ - | 2015 $ 37,000 2016 $ 38,000 2017 $ 39,000 2018 $ 3,000 |
LIABILITY FOR EQUITY-LINKED F26
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2015 | Dec. 31, 2014 | |
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS [Abstract] | ||
Schedule of Inputs to Black-Scholes Model | Stock price $ 3.75 37.50 Exercise price $ .75 26.613 Expected life 2.0 6.5 Expected volatility 59 % Assumed dividend rate - % Risk-free interest rate .13 2.97 | Stock price $ 3.75 37.50 Exercise price $ .75 24.38 Expected life 2.0 6.5 Expected volatility 59% Assumed dividend rate - Risk-free interest rate .13 2.97 |
Schedule of Original Valuations, Annual Gain/(Loss) and End of Year Valuations | Initial Annual Value at 2010 Gain Value at 2011 Gain Value at 12/31/2011 2012 Gain Value at 12/31/2012 2013 Gain (Loss) Value 2014 Gain (Loss) Value at 12/31/2014 January 1, 2009 adoption $ $ (390,368 $ 870,278 $ $ $ (88,290 $ 89,796 $ (21,856 $ 111,652 $ 100,053 $ 11,599 $ 11,599 $ - Warrants issued in quarter ended 6/30/2009 169,854 149,007 147,403 1,604 (4,689 6,293 6,293 - - - - - Warrants issued in quarter ended 9/30/2009 39,743 40,419 62 (1,562 1,624 910 714 714 - - - Warrants issued in quarter ended 12/31/2009 12,698 617 12,081 12,053 28 (724) 752 415 337 337 - - - Subtotal 702,205 1,071,847 Warrants issued in quarter ended 3/31/2010 25,553 25,014 539 (5,570 6,109 3,701 2,408 2,408 - - - Warrants issued in quarter ended 6/30/2010 31,332 30,740 592 (6,122 6,714 6,083 631 631 - - - Warrants issued in quarter ended 9/30/2010 31,506 20,891 10,615 (44,160 54,775 1,338 53,437 53,437 - - - Total $ 790,596 $ (369,642 $ $ $ 14,946 $ (151,117 $ 166,063 $ (3,116 $ 169,179 $ 157,580 $ 11,599 $ 11,599 $ - | Initial Annual Value at 2010 Value at 2011 Value at 12/31/2011 2012 (Loss) Value at 2013 (Loss) Value at 2014 (Loss) Value at 12/31/2014 January 1, 2009 adoption $ 479,910 $ (390,368 ) $ 870,278 $ 868,772 $ 1,506 $ (88,290 ) $ 89,796 $ (21,856 ) $ 111,652 $ 100,053 $ 11,599 $ 11,599 $ - Warrants issued in quarter ended 6/30/2009 169,854 20,847 149,007 147,403 1,604 (4,689 ) 6,293 6,293 - - - - - Warrants issued in quarter ended 9/30/2009 39,743 (738 ) 40,481 40,419 62 (1,562 ) 1,624 910 714 714 - - - Warrants is used in quarter ended 12/31/2009 12,698 617 12,081 12,053 28 (724 ) 752 415 337 337 - - - Subtotal 702,205 1,071,847 Warrants issued in quarter ended 3/31/2010 25,553 25,014 539 (5,570 ) 6,109 3,701 2,408 2,408 - - - Warrants issued in quarter ended 6/30/2010 31,332 30,740 592 (6,122 ) 6,714 6,083 631 631 - - - Warrants issued in quarter ended 9/30/2010 31,506 20,891 10,615 (44,160 ) 54,775 1,338 53,437 53,437 - - - Total $ 790,596 $ (369,642 ) $ 1,071,847 $ 1,145,292 $ 14,946 $ (151,117 ) $ 166,063 $ (3,116 ) $ 169,179 $ 157,580 $ 11,599 $ 11,599 $ - |
SUMMARY OF SIGNIFICANT ACCOUN27
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - Relationship to Entity [Domain] - USD ($) | Jun. 30, 2015 | Jul. 23, 2014 | May. 31, 2015 | Nov. 30, 2014 | Jun. 30, 2014 | Feb. 28, 2014 | Oct. 31, 2013 | Jun. 30, 2013 | May. 31, 2013 | Apr. 30, 2013 | Apr. 30, 2012 | Jun. 30, 2015 | Mar. 31, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Jun. 30, 2015 | Jul. 24, 2015 | Sep. 30, 2014 | Feb. 04, 2014 | Sep. 10, 2013 | Apr. 15, 2013 | Jan. 15, 2013 | Sep. 07, 2011 | Jun. 22, 2010 |
Summary Of Significant Accounting Policy [Line Items] | ||||||||||||||||||||||||||||
Common Stock, Shares, Outstanding | 3,312,863 | 3,312,863 | 3,312,863 | 3,092,766 | 2,932,501 | 3,092,766 | 3,312,863 | |||||||||||||||||||||
Common Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||||
Stockholders' Equity, Reverse Stock Split | 1-for-75 | |||||||||||||||||||||||||||
Stockholders' Equity, Period Increase (Decrease) | $ 9,168,000 | $ 9,168,000 | ||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 2,055,000 | $ 2,055,001 | $ 2,055,000 | |||||||||||||||||||||||||
Debt Instrument, Increase (Decrease) for Period, Net | 5,685,000 | 5,435,000 | ||||||||||||||||||||||||||
Amortization of Intangible Assets | $ 140,588 | $ 1,444 | $ 0 | 2,888 | $ 0 | |||||||||||||||||||||||
Advertising Expense | $ 500 | 1,250 | 1,417 | $ 7,793 | 19,394 | $ 0 | ||||||||||||||||||||||
Research and Development Expense | $ 249,636 | $ 58,285 | $ 131,285 | $ 120,947 | $ 394,000 | $ 235,000 | ||||||||||||||||||||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 100,000,000 | 10,666,667 | 10,666,667 | 10,666,667 | 100,000,000 | 666,667 | 4,000,000 | 2,666,667 | 1,066,067 | |||||||||||||||||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | 20,000,000 | 10,000,000 | 20,000,000 | 10,000,000 | 20,000,000 | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 13,700 | 13,333 | 4,762 | 13,889 | ||||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||||||||||||
Proposed offering, Description | In connection with the Company's proposed offering of 1,666,667 9.00 228,334 84,770 | |||||||||||||||||||||||||||
Original principal amount | $ 933,073 | $ 156,243 | $ 933,073 | $ 933,073 | $ 933,073 | |||||||||||||||||||||||
Amount of aggregate principal amount converted into shares of the Company's common stock | 927,663 | $ 415,775 | ||||||||||||||||||||||||||
Redemption price as percentage of the principal amount, plus accrued and unpaid interest | 140.00% | 140.00% | ||||||||||||||||||||||||||
Estimated total redemption price | 1,400,000 | 1,400,000 | $ 1,400,000 | 1,400,000 | ||||||||||||||||||||||||
Estimated total redemption price that will be paid to affiliates | $ 167,031 | $ 167,031 | 167,031 | $ 167,031 | ||||||||||||||||||||||||
Convertible Note Payable 2014 [Member] | ||||||||||||||||||||||||||||
Summary Of Significant Accounting Policy [Line Items] | ||||||||||||||||||||||||||||
Original principal amount | $ 1,800,000 | |||||||||||||||||||||||||||
Reduced principal amount | 1,600,000 | |||||||||||||||||||||||||||
Amount of aggregate principal amount converted into shares of the Company's common stock | $ 275,000 | |||||||||||||||||||||||||||
SOK Partners, LLC, [Member] | Convertible Note Payable 2014 [Member] | ||||||||||||||||||||||||||||
Summary Of Significant Accounting Policy [Line Items] | ||||||||||||||||||||||||||||
Original principal amount | $ 122,196 | |||||||||||||||||||||||||||
Minimum [Member] | ||||||||||||||||||||||||||||
Summary Of Significant Accounting Policy [Line Items] | ||||||||||||||||||||||||||||
Common stock, shares authorized | 4,000,000 | |||||||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||||||
Summary Of Significant Accounting Policy [Line Items] | ||||||||||||||||||||||||||||
Common stock, shares authorized | 10,666,667 | |||||||||||||||||||||||||||
Samuel Herschkowitz [Member] | ||||||||||||||||||||||||||||
Summary Of Significant Accounting Policy [Line Items] | ||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 100,000 | |||||||||||||||||||||||||||
Series A Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||||
Summary Of Significant Accounting Policy [Line Items] | ||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 2,055,000 | $ 2,055,000 | ||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 20,550 | |||||||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | |||||||||||||||||||||||||||
Stated value per share | $ 100 | |||||||||||||||||||||||||||
Subsequent Event [Member] | ||||||||||||||||||||||||||||
Summary Of Significant Accounting Policy [Line Items] | ||||||||||||||||||||||||||||
Common stock, shares authorized | 100,000,000 | |||||||||||||||||||||||||||
Preferred stock, shares authorized | 20,000,000 |
SUMMARY OF SIGNIFICANT ACCOUN28
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Inventory) (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES [Abstract] | |||
Finished goods | $ 46,845 | $ 88,362 | $ 56,818 |
Raw materials | 200,654 | 237,556 | 18,603 |
Work-In-Process | 10,169 | 41,449 | 46,754 |
Total | $ 257,668 | $ 367,367 | $ 122,175 |
SUMMARY OF SIGNIFICANT ACCOUN29
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Property, Plant and Equipment) (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Estimated useful of assets [Line items] | |||
Total | $ 257,757 | $ 275,446 | $ 175,019 |
Less: Accumulated depreciation | 110,514 | 78,967 | 16,909 |
Total Fixed Assets, Net | 147,243 | 196,479 | 158,110 |
Computers and office equipment [Member] | |||
Estimated useful of assets [Line items] | |||
Total | $ 122,889 | $ 123,708 | 61,505 |
Computers and office equipment [Member] | Minimum [Member] | |||
Estimated useful of assets [Line items] | |||
Property, Plant and Equipment, Useful Life | 3 years | 3 years | |
Computers and office equipment [Member] | Maximum [Member] | |||
Estimated useful of assets [Line items] | |||
Property, Plant and Equipment, Useful Life | 7 years | 7 years | |
Leasehold Improvements [Member] | |||
Estimated useful of assets [Line items] | |||
Property, Plant and Equipment, Useful Life | 5 years | 5 years | |
Total | $ 23,874 | $ 23,874 | 23,614 |
Manufacturing Tooling [Member] | |||
Estimated useful of assets [Line items] | |||
Total | $ 97,288 | $ 97,288 | $ 89,900 |
Manufacturing Tooling [Member] | Minimum [Member] | |||
Estimated useful of assets [Line items] | |||
Property, Plant and Equipment, Useful Life | 3 years | 3 years | |
Manufacturing Tooling [Member] | Maximum [Member] | |||
Estimated useful of assets [Line items] | |||
Property, Plant and Equipment, Useful Life | 7 years | 7 years | |
Demo Equipment [Member] | |||
Estimated useful of assets [Line items] | |||
Property, Plant and Equipment, Useful Life | 3 years | 3 years | |
Total | $ 13,706 | $ 30,576 |
DEVELOPMENT STAGE OPERATIONS (D
DEVELOPMENT STAGE OPERATIONS (Details) - $ / shares | 152 Months Ended | 159 Months Ended |
Dec. 31, 2014 | Aug. 06, 2015 | |
Development stage operation [Line Items] | ||
Common Stock, Shares, Issued | 3,092,766 | 3,312,863 |
Equity Issuance Per Share Amount | $ 125.25 | $ 125.25 |
STOCKHOLDERS' DEFICIT, STOCK 31
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Narrative) (Details) - Related Party [Domain] - USD ($) | Sep. 09, 2014 | Sep. 09, 2014 | Mar. 15, 2013 | Jun. 30, 2015 | Mar. 31, 2015 | Jan. 31, 2015 | Nov. 30, 2014 | Sep. 30, 2014 | Jul. 31, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Feb. 28, 2014 | Jan. 31, 2014 | Oct. 31, 2013 | May. 31, 2013 | Apr. 30, 2013 | Jan. 31, 2013 | Mar. 31, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2014 | Mar. 31, 2014 | Mar. 31, 2013 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2009 | Dec. 31, 2014 | Jul. 24, 2015 | May. 31, 2015 | Aug. 31, 2014 | Aug. 04, 2014 | Jul. 23, 2014 | Feb. 04, 2014 | Sep. 11, 2013 | Sep. 10, 2013 | Apr. 15, 2013 | Jan. 15, 2013 | Mar. 28, 2012 | Sep. 07, 2011 | Jun. 22, 2010 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Weighted Average Remaining Life | 2 years 6 months | ||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 59.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 66.00% | ||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Volatility Description | The Company compiled historical volatilities over a period of 2 to 7 years of 15 small-cap medical companies traded on major exchanges and 10 mid-range medical companies on the OTC Bulletin Board and combined the results using a weighted average approach. | The Company compiled historical volatilities over a period of 2 to 7 years of 15 small-cap medical companies traded on major exchanges and 10 mid-range medical companies on the OTC Bulletin Board and combined the results using a weighted average approach. | |||||||||||||||||||||||||||||||||||||||||
Amortization of debt discount | $ 275,640 | $ 219,097 | $ 247,338 | $ 413,695 | |||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.37% | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 501,723 | 501,723 | 429,930 | 429,930 | |||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price | $ 6.31 | $ 6.31 | $ 7.19 | $ 7.19 | |||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Vested and Expected To Vest, Outstanding, Weighted Average Remaining Contractual Term 1 | 6 years 5 months 5 days | 7 years 11 months 8 days | |||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Expense | $ 302,981 | $ 352,762 | $ 723,367 | $ 3,700,070 | |||||||||||||||||||||||||||||||||||||||
Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized, Stock Options | $ 72,354 | $ 72,354 | $ 198,220 | $ 198,220 | |||||||||||||||||||||||||||||||||||||||
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition 1 | 9 months | 16 months | |||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | 100,000,000 | 100,000,000 | 10,666,667 | 10,666,667 | 10,666,667 | 666,667 | 4,000,000 | 2,666,667 | 1,066,067 | ||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 933,073 | $ 156,243 | $ 933,073 | ||||||||||||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 14,881 | 33,333 | |||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 7.50 | $ 7.50 | $ 0.014 | $ 4.88 | |||||||||||||||||||||||||||||||||||||||
Accumulated discounts on current portion of convertible debt (in dollars) | $ 0 | $ 77,644 | $ 0 | $ 194,097 | $ 0 | $ 194,097 | |||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Effective Interest Rate | 24.00% | 24.00% | 24.00% | 24.00% | |||||||||||||||||||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||||||||||||||||||||||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | |||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.38 | $ 11.25 | $ 24.38 | $ 18.75 | $ 7.50 | $ 13.50 | $ 11.25 | $ 12.38 | |||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 37,440 | 28,986 | 4,831 | 21,538 | 37,440 | 5,926 | 37,440 | 4,831 | 61,539 | 61,539 | 5,431 | ||||||||||||||||||||||||||||||||
Interest Payable | $ 11,169 | ||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 2,055,000 | $ 2,055,001 | $ 2,055,000 | ||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 13,700 | 13,333 | 4,762 | 13,889 | |||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 9.38 | ||||||||||||||||||||||||||||||||||||||||||
Issuance of net exercise provision shares | 87,117 | ||||||||||||||||||||||||||||||||||||||||||
Preferred Stock Conversion Price, Per Share | $ 19.50 | $ 19.50 | $ 9.75 | $ 19.50 | $ 19.50 | ||||||||||||||||||||||||||||||||||||||
Convertible Preferred Stock, Terms of Conversion | The Preferred Shares are convertible at the option of the holder into the number of shares of Common Stock determined by dividing the stated value of the Preferred Shares being converted by the conversion price of $19.50, subject to adjustment for stock splits, reverse stock splits and similar recapitalization events. If the Company issues additional shares of Common Stock, other than certain stock that is excluded under the terms of the Securities Purchase Agreement, in one or more capital raising transactions with an aggregate purchase price of at least $100,000 for a price less than the then existing conversion price for the Preferred Shares (the “New Issuance Price”), then the then existing conversion price shall be reduced to the New Issuance Price, provided, however, that under no circumstances shall the New Issuance Price be less than $9.75 or reduced to a price level that would be in breach of the listing rules of any stock exchange | The Preferred Shares are convertible at the option of the holder into the number of shares of Common Stock determined by dividing the stated value of the Preferred Shares being converted by the conversion price of $ 19.50 | |||||||||||||||||||||||||||||||||||||||||
Beneficial Ownership Limitation, Percentage | 4.99% | 4.99% | |||||||||||||||||||||||||||||||||||||||||
Preferred Shareholders, Receivable, Upon Any Liquidation, Description | an amount equal to $ 2,055,000 | an amount equal to $2,055,000 times 1.2, plus all declared but unpaid dividends. | |||||||||||||||||||||||||||||||||||||||||
Cashless Exercise Of Common Stock Warrants Total | 3,333 | 15,442 | |||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 3,121 | 3,121 | 3,122 | 1,561 | 1,561 | 970 | 1,559 | ||||||||||||||||||||||||||||||||||||
Conversion Of Stock Price Per Share | $ 9.75 | $ 9.75 | $ 9.75 | $ 19.50 | |||||||||||||||||||||||||||||||||||||||
Preferred Stock, Dividend Rate, Percentage | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | 6.00% | |||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period | 3,725 | 4,444 | 139,265 | ||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Other | 20,623 | ||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 20,000,000 | 20,000,000 | 10,000,000 | 20,000,000 | 10,000,000 | ||||||||||||||||||||||||||||||||||||||
SOK Partners, LLC, [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.38 | $ 12.38 | |||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 71,257 | 71,257 | 5,431 | 5,431 | |||||||||||||||||||||||||||||||||||||||
Percentage Of Reduction To Warrant Agreement | 11.00% | 11.00% | |||||||||||||||||||||||||||||||||||||||||
Convertible Notes Payable [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 275,000 | ||||||||||||||||||||||||||||||||||||||||||
Dr.Samuel Herschowitz [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,482 | ||||||||||||||||||||||||||||||||||||||||||
CEO [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 1.25 | $ 0.01 | |||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period | 4,336 | 4,444 | |||||||||||||||||||||||||||||||||||||||||
Two Lenders [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.38 | ||||||||||||||||||||||||||||||||||||||||||
Four Lenders [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 12.38 | $ 12.38 | $ 12.38 | ||||||||||||||||||||||||||||||||||||||||
Purchasers [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 24.38 | ||||||||||||||||||||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | 100,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Preferred stock, shares authorized | 20,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 300,000 | $ 1,000,000 | |||||||||||||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 33,333 | 80,000 | |||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 13.50 | ||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Effective Interest Rate | 8.00% | 8.00% | |||||||||||||||||||||||||||||||||||||||||
Common stock, par value (in dollars per share) | $ 0.01 | ||||||||||||||||||||||||||||||||||||||||||
Shares Issued, Price Per Share | 5.25 | ||||||||||||||||||||||||||||||||||||||||||
Warrants Term | 5 years | ||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 6 | $ 11.25 | |||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 95,239 | 95,238 | |||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||
Private Placement 2 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 61,481 | ||||||||||||||||||||||||||||||||||||||||||
Shares issued under PPM to five investors at $.07 per share (in shares) | 47,619 | ||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 11.25 | $ 14.85 | |||||||||||||||||||||||||||||||||||||||||
Consultant [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0.01 | ||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period | 2,667 | 2,667 | |||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Issued - Average Exercise Price | $ 13.49 | $ 3.81 | $ 9 | ||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 9 | ||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 24.38 | ||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 21,334 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 8.38 | $ 8.25 | |||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Options, Exercises In Period | 40,722 | 238,682 | |||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Other | 71,257 | ||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Two Lenders [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Percentage Of Reduction To Warrant Agreement | 11.00% | ||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Four Lenders [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Percentage Of Reduction To Warrant Agreement | 11.00% | ||||||||||||||||||||||||||||||||||||||||||
Warrant [Member] | Private Placement [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 9 | ||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 11.25 | ||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 95,238 | ||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 500,000 | ||||||||||||||||||||||||||||||||||||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | ||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 2,055,000 | $ 2,055,000 | |||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 20,550 | ||||||||||||||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share | $ 9.75 | ||||||||||||||||||||||||||||||||||||||||||
Warrant Holder [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ 1,044,490 | ||||||||||||||||||||||||||||||||||||||||||
One Warrant Holder [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Stock Issued During Period, Value, Stock Options Exercised | $ 125,000 | ||||||||||||||||||||||||||||||||||||||||||
Stock Incentive Plan 2012 [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | 1,333,334 | ||||||||||||||||||||||||||||||||||||||||||
Shares Grants Increase For Threshold | 266,667 | ||||||||||||||||||||||||||||||||||||||||||
Stock Options and Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | |||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Minimum | 59.00% | 59.00% | |||||||||||||||||||||||||||||||||||||||||
Share-Based Compensation Arrangement By Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate, Maximum | 66.00% | 66.00% | |||||||||||||||||||||||||||||||||||||||||
Stock Options and Warrants One [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Weighted Average Remaining Life | 5 years | ||||||||||||||||||||||||||||||||||||||||||
Stock Options and Warrants Two [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Weighted Average Remaining Life | 10 years | ||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Weighted Average Remaining Life | 2 years | 2 years | |||||||||||||||||||||||||||||||||||||||||
Issued - Average Exercise Price | $ 3.2006 | $ 1.43 | |||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | 4,000,000 | ||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Issued - Average Exercise Price | $ 0.75 | $ 0.75 | $ 0.75 | ||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Post Reverse Stock Split [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 11.25 | ||||||||||||||||||||||||||||||||||||||||||
Minimum [Member] | Stock Options and Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Weighted Average Remaining Life | 5 years | 5 years | |||||||||||||||||||||||||||||||||||||||||
Issued - Average Exercise Price | $ 0.2750 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.63% | 1.44% | 0.78% | ||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Weighted Average Remaining Life | 6 years 6 months | 6 years 6 months | |||||||||||||||||||||||||||||||||||||||||
Issued - Average Exercise Price | $ 13.9195 | $ 18.34 | |||||||||||||||||||||||||||||||||||||||||
Common stock, shares authorized | 10,666,667 | ||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Warrant [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Issued - Average Exercise Price | $ 24.375 | $ 24.375 | |||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Post Reverse Stock Split [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 34.50 | ||||||||||||||||||||||||||||||||||||||||||
Maximum [Member] | Stock Options and Warrants [Member] | |||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||||||||||||||||||||||
Weighted Average Remaining Life | 10 years | 10 years | |||||||||||||||||||||||||||||||||||||||||
Issued - Average Exercise Price | $ 5.5695 | ||||||||||||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.35% | 2.75% | 2.04% |
STOCKHOLDERS' DEFICIT, STOCK 32
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Summary of Transactions for Stock Options and Warrants) (Details) - $ / shares | 1 Months Ended | 2 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2014 | Mar. 31, 2014 | Oct. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Exercised - Number of shares | (3,725) | (4,444) | (139,265) | ||||
Exercised - Average Exercise Price | $ 9.38 | ||||||
Stock Options [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Outstanding Number of shares | 448,601 | 385,733 | 168,856 | ||||
Issued - Number of shares | 66,926 | 75,683 | 239,816 | ||||
Expired - Number of shares | (7,136) | (7,879) | (15,467) | ||||
Exercised - Number of shares | (4,936) | (7,472) | |||||
Outstanding Number of shares | 508,391 | 448,601 | 385,733 | ||||
Outstanding - Average Exercise Price | $ 7.51 | $ 6.75 | $ 6.75 | ||||
Issued - Average Exercise Price | 3.14 | 8.12 | 6.75 | ||||
Expired - Average Exercise Price | $ 13.55 | 23.58 | 18 | ||||
Exercised - Average Exercise Price | 1.76 | 0.75 | |||||
Outstanding - Average Exercise Price | $ 6.96 | $ 7.51 | $ 6.75 | ||||
Warrant [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||
Outstanding Number of shares | 500,722 | 461,920 | 468,431 | ||||
Issued - Number of shares | 126,310 | 161,375 | 343,196 | ||||
Expired - Number of shares | (1,567) | (81,851) | (111,025) | ||||
Exercised - Number of shares | (40,722) | (238,682) | |||||
Outstanding Number of shares | 625,465 | 500,722 | 461,920 | ||||
Outstanding - Average Exercise Price | $ 7.95 | $ 10.50 | $ 9.75 | ||||
Issued - Average Exercise Price | 13.49 | 3.81 | 9 | ||||
Expired - Average Exercise Price | $ 14.04 | 13.54 | 13.50 | ||||
Exercised - Average Exercise Price | 8.38 | 8.25 | |||||
Outstanding - Average Exercise Price | $ 9.06 | $ 7.95 | $ 10.50 |
STOCKHOLDERS' DEFICIT, STOCK 33
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Summary of Status of Options and Warrants Outstanding) (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2009 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Weighted Average Remaining Life | 2 years 6 months | ||||
Stock Options One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 0.75 | $ 0.75 | |||
Shares | 7,333 | 7,333 | |||
Weighted Average Remaining Life | 6 years 7 days | 6 years 6 months 7 days | |||
Stock Options Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 3.10 | $ 4.875 | |||
Shares | 59,681 | 134 | |||
Weighted Average Remaining Life | 10 years | 8 years 2 months 12 days | |||
Stock Options Three [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 3.45 | $ 5.25 | |||
Shares | 7,245 | 2,031 | |||
Weighted Average Remaining Life | 9 years 9 months 4 days | 7 years 7 months 13 days | |||
Stock Options Four [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 4.875 | $ 5.625 | |||
Shares | 134 | 192,000 | |||
Weighted Average Remaining Life | 7 years 8 months 12 days | 8 years 2 months 16 days | |||
Stock Options Five [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 5.25 | $ 5.925 | |||
Shares | 2,031 | 23,206 | |||
Weighted Average Remaining Life | 7 years 2 months 8 days | 8 years 2 months 19 days | |||
Stock Options Six [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 5.625 | $ 6 | |||
Shares | 192,000 | 123,998 | |||
Weighted Average Remaining Life | 7 years 8 months 16 days | 7 years 7 months 17 days | |||
Stock Options Seven [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 5.925 | $ 6.50 | |||
Shares | 23,206 | 3,845 | |||
Weighted Average Remaining Life | 7 years 8 months 19 days | 10 years | |||
Stock Options Eight [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 6 | $ 6.60 | |||
Shares | 123,998 | 5,332 | |||
Weighted Average Remaining Life | 7 years 1 month 17 days | 7 years 25 days | |||
Stock Options Nine [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 6.50 | $ 8.25 | |||
Shares | 3,845 | 3,636 | |||
Weighted Average Remaining Life | 9 years 6 months 4 days | 9 years 9 months 4 days | |||
Stock Options Ten [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 6.60 | $ 9.9375 | |||
Shares | 5,332 | 3,019 | |||
Weighted Average Remaining Life | 6 years 6 months 25 days | 8 years 6 months 14 days | |||
Stock Options Eleven [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 8.25 | $ 10.50 | |||
Shares | 3,636 | 3,238 | |||
Weighted Average Remaining Life | 9 years 3 months 4 days | 8 years 6 months 14 days | |||
Stock Options Twelve [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 9.9375 | $ 11.25 | |||
Shares | 3,019 | 13,666 | |||
Weighted Average Remaining Life | 8 years 14 days | 8 years 29 days | |||
Stock Options Thirteen [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 10.50 | $ 12.75 | |||
Shares | 3,238 | 10,069 | |||
Weighted Average Remaining Life | 8 years 14 days | 9 years 3 months 14 days | |||
Stock Options Fourteen [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 11.25 | $ 13.875 | |||
Shares | 13,666 | 2,160 | |||
Weighted Average Remaining Life | 7 years 7 months 6 days | 9 years 3 months | |||
Stock Options Fifteen [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 12.75 | $ 15 | |||
Shares | 3,401 | 3,334 | |||
Weighted Average Remaining Life | 8 years 3 months 14 days | 9 years 2 months 19 days | |||
Stock Options Sixteen [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 13.875 | $ 17.25 | |||
Shares | 2,160 | 40,261 | |||
Weighted Average Remaining Life | 8 years 9 months 4 days | 9 years 2 months 8 days | |||
Stock Options Seventeen [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 15 | $ 18.75 | |||
Shares | 3,334 | 3,335 | |||
Weighted Average Remaining Life | 8 years 8 months 19 days | 9 years 1 month 24 days | |||
Stock Options Eighteen [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 17.25 | $ 20.25 | |||
Shares | 40,261 | 4,940 | |||
Weighted Average Remaining Life | 8 years 8 months 8 days | 9 years 4 days | |||
Stock Options Nineteen [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 18.75 | $ 21.75 | |||
Shares | 3,334 | 1,336 | |||
Weighted Average Remaining Life | 8 years 7 months 24 days | 8 years 9 months 7 days | |||
Stock Options Twenty [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 20.25 | $ 23.85 | |||
Shares | 4,940 | 1,260 | |||
Weighted Average Remaining Life | 8 years 6 months 4 days | 8 years 9 months | |||
Stock Options Twenty One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 21.75 | $ 24.75 | |||
Shares | 1,336 | 334 | |||
Weighted Average Remaining Life | 8 years 3 months 11 days | 8 years 8 months 23 days | |||
Stock Options Twenty Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 23.85 | $ 25.6125 | |||
Shares | 1,260 | 134 | |||
Weighted Average Remaining Life | 8 years 3 months 4 days | 8 years 5 months 26 days | |||
Stock Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 6.96 | $ 7.51 | $ 6.75 | $ 6.75 | |
Shares | 508,391 | 448,601 | 385,733 | 168,856 | |
Warrant One [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 0.75 | $ 0.75 | |||
Shares | 400 | 400 | |||
Weighted Average Remaining Life | 5 months 8 days | 11 months 8 days | |||
Warrant Two [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 6 | $ 6 | |||
Shares | 102,857 | 102,857 | |||
Weighted Average Remaining Life | 2 years 8 months 16 days | 3 years 2 months 12 days | |||
Warrant Three [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 9 | $ 9 | |||
Shares | 2,666 | 2,666 | |||
Weighted Average Remaining Life | 2 years 6 months 29 days | 3 years 25 days | |||
Warrant Four [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 9.75 | $ 11.25 | |||
Shares | 155,545 | 204,200 | |||
Weighted Average Remaining Life | 4 years 1 month 6 days | 3 years 7 days | |||
Warrant Five [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 11.25 | $ 12.375 | |||
Shares | 203,801 | 71,257 | |||
Weighted Average Remaining Life | 2 years 6 months 7 days | 4 years 7 months 10 days | |||
Warrant Six [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 12.375 | $ 12.38 | |||
Shares | 71,257 | 5,557 | |||
Weighted Average Remaining Life | 4 years 1 month 10 days | 4 years 10 months 6 days | |||
Warrant Seven [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 12.38 | $ 13.50 | |||
Shares | 5,557 | 4,444 | |||
Weighted Average Remaining Life | 4 years 4 months 10 days | 3 years 5 months 19 days | |||
Warrant Eight [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 13.50 | $ 14.85 | |||
Shares | 4,444 | 23,612 | |||
Weighted Average Remaining Life | 2 years 11 months 19 days | 3 years 4 months 28 days | |||
Warrant Nine [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 14.85 | $ 15 | |||
Shares | 23,612 | 1,168 | |||
Weighted Average Remaining Life | 2 years 11 months 1 day | 1 month 2 days | |||
Warrant Ten [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 20.25 | $ 20.25 | |||
Shares | 1,481 | 1,481 | |||
Weighted Average Remaining Life | 3 years 7 months 17 days | 4 years 1 month 17 days | |||
Warrant Eleven [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 24.375 | $ 24.375 | |||
Shares | 53,845 | 83,080 | |||
Weighted Average Remaining Life | 3 years 7 months 6 days | 4 years 5 months 16 days | |||
Warrant [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Range of Prices | $ 9.06 | $ 7.95 | $ 10.50 | $ 9.75 | |
Shares | 625,465 | 500,722 | 461,920 | 468,431 |
STOCKHOLDERS' DEFICIT, STOCK 34
STOCKHOLDERS' DEFICIT, STOCK OPTIONS AND WARRANTS (Schedule of Listing of Stock Options and Warrants) (Details) - $ / shares | 1 Months Ended | 6 Months Ended | 12 Months Ended | |||
Apr. 30, 2013 | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 3.2006 | $ 1.43 | ||||
Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 13.9195 | 18.34 | ||||
Warrants 2010 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 400 | 400 | ||||
Issued - Average Exercise Price | $ 0.75 | $ 0.75 | ||||
Warrants 2011 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | ||||||
Issued - Average Exercise Price | ||||||
Warrants 2012 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 69,801 | 71,368 | ||||
Issued - Average Exercise Price | $ 11.25 | |||||
Warrants 2012 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 11.25 | |||||
Warrants 2012 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 15 | |||||
Warrants 2013 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 267,579 | 267,579 | ||||
Warrants 2013 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 6 | 6 | ||||
Warrants 2013 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 14.85 | $ 14.85 | ||||
Warrants 2014 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 161,375 | 161,375 | ||||
Warrants 2014 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 12.375 | $ 12.375 | ||||
Warrants 2014 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 24.375 | $ 24.375 | ||||
Warrants 2015 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 126,310 | |||||
Warrants 2015 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 9.75 | |||||
Warrants 2015 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 24.375 | |||||
Warrant [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 625,465 | 500,722 | 461,920 | 468,431 | ||
Issued - Average Exercise Price | $ 13.49 | $ 3.81 | $ 9 | |||
Warrant [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 0.75 | 0.75 | 0.75 | |||
Warrant [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 24.375 | $ 24.375 | ||||
Warrant Five [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 203,801 | 71,257 | ||||
Stock Options 2011 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 11,666 | 11,666 | ||||
Issued - Average Exercise Price | $ 0.75 | |||||
Stock Options 2012 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 126,029 | 126,029 | ||||
Stock Options 2012 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 5.25 | $ 5.25 | ||||
Stock Options 2012 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 6 | $ 6 | ||||
Stock Options 2013 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 238,088 | 238,556 | ||||
Stock Options 2013 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 4.875 | 4.875 | ||||
Stock Options 2013 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 23.85 | $ 25.613 | ||||
Stock Options 2014 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 65,681 | 72,350 | ||||
Stock Options 2014 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 6.50 | $ 6.50 | ||||
Stock Options 2014 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 18.75 | $ 18.75 | ||||
Stock Options 2015 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 66,926 | |||||
Stock Options 2015 [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 3.10 | |||||
Stock Options 2015 [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 3.45 | |||||
Stock Options [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 508,391 | 448,601 | 385,733 | 168,856 | ||
Issued - Average Exercise Price | $ 3.14 | $ 8.12 | $ 6.75 | |||
Stock Options [Member] | Minimum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | 0.75 | 0.75 | ||||
Stock Options [Member] | Maximum [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Issued - Average Exercise Price | $ 25.613 | $ 25.613 | ||||
Stock Options Five [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 2,031 | 23,206 | ||||
Stock Options Six [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 192,000 | 123,998 | ||||
Stock Options Seven [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||||
Shares | 23,206 | 3,845 |
SHORT-TERM NOTES PAYABLE (Detai
SHORT-TERM NOTES PAYABLE (Details) - USD ($) | Jun. 30, 2015 | Nov. 18, 2014 | Sep. 09, 2014 | Sep. 09, 2014 | Jul. 23, 2014 | May. 31, 2015 | Oct. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Aug. 31, 2014 | Aug. 04, 2014 | Jul. 31, 2014 | Feb. 28, 2014 | May. 31, 2013 | Jan. 31, 2013 |
Short-term Debt [Line Items] | |||||||||||||||||||
Original principal amount | $ 933,073 | $ 933,073 | $ 156,243 | ||||||||||||||||
Amount of aggregate principal amount converted into shares of the Company's common stock | 927,663 | $ 415,775 | |||||||||||||||||
Shares of common stock exercisable for warrants | 5,431 | 37,440 | 5,926 | 4,831 | 61,539 | 61,539 | 28,986 | 21,538 | |||||||||||
Aggregate purchase price | $ 100,000 | ||||||||||||||||||
Redemption price as percentage of the principal amount, plus accrued and unpaid interest | 140.00% | 140.00% | |||||||||||||||||
Estimated total redemption price | 1,400,000 | $ 1,400,000 | |||||||||||||||||
Estimated total redemption price that will be paid to affiliates | 167,031 | 167,031 | |||||||||||||||||
Amortization Of Debt Discount (Premium) | $ 275,640 | 219,097 | $ 247,338 | 413,695 | |||||||||||||||
Debt Conversion, Converted Instrument, Amount | 927,663 | 415,775 | |||||||||||||||||
Debt Instrument, Unamortized Discount | $ 0 | $ 0 | $ 194,097 | $ 0 | $ 77,644 | ||||||||||||||
SOK Note, 31 Group Note And Affiliate Notes [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Amortization Of Debt Discount (Premium) | $ 250,494 | $ 137,470 | |||||||||||||||||
Debt Instrument, Interest Rate During Period | 12.00% | ||||||||||||||||||
Debt Instrument, Unamortized Discount | 103,088 | $ 56,627 | |||||||||||||||||
Debt Instrument, Convertible, Terms of Conversion Feature | (i) the product of (x) the arithmetic average of the lowest three volume weighted average prices of the Common Stock during the ten consecutive trading days ending and including the trading day immediately preceding the applicable conversion date and (y) 72.5% (or if an event of default has occurred and is continuing, 70%), and (ii) $11.25 (as adjusted for stock splits, stock dividends, recapitalizations or similar events). | ||||||||||||||||||
SOK Partners, LLC, [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Original principal amount | $ 108,696 | $ 108,696 | $ 122,196 | ||||||||||||||||
Shares of common stock exercisable for warrants | 4,831 | 4,831 | |||||||||||||||||
Notes Payable, Current | $ 108,696 | $ 108,696 | |||||||||||||||||
Class of Warrant or Right, Outstanding | 4,831 | 4,831 | |||||||||||||||||
Affiliate Investor Two [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 280,615.81 | ||||||||||||||||||
Affiliate Investor One [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 80,000 | ||||||||||||||||||
SOK Partners, LLC, [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Shares of common stock exercisable for warrants | 71,257 | 71,257 | 5,431 | ||||||||||||||||
Aggregate purchase price | 100,000 | ||||||||||||||||||
Percentage of reduction to principal amount of the notes | 11.00% | ||||||||||||||||||
Percentage Of Reduction To Warrant Agreement | 11.00% | 11.00% | |||||||||||||||||
Notes Payable, Current | $ 1,603,260 | $ 1,603,260 | |||||||||||||||||
31 Group, LLC Member | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 40,000 | ||||||||||||||||||
2014 Convertible Notes [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Original principal amount | 1,800,000 | ||||||||||||||||||
Reduced principal amount | 1,600,000 | ||||||||||||||||||
Amount of aggregate principal amount converted into shares of the Company's common stock | $ 275,000 | ||||||||||||||||||
Aggregate purchase price | 1,475,000 | ||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | 275,000 | ||||||||||||||||||
2014 Convertible Notes [Member] | SOK Partners, LLC, [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Original principal amount | $ 122,196 | ||||||||||||||||||
Shares of common stock exercisable for warrants | 5,431 | ||||||||||||||||||
Convertible Notes Payable [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Original principal amount | 275,000 | ||||||||||||||||||
Amount of aggregate principal amount converted into shares of the Company's common stock | 250,000 | ||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 250,000 | ||||||||||||||||||
Convertible Notes Payable [Member] | Affiliates [Member] | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Amount of aggregate principal amount converted into shares of the Company's common stock | $ 40,000 | ||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | 40,000 | ||||||||||||||||||
Convertible Notes Payable [Member] | 31 Group, LLC Member | |||||||||||||||||||
Short-term Debt [Line Items] | |||||||||||||||||||
Amount of aggregate principal amount converted into shares of the Company's common stock | 40,000 | ||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 40,000 |
LOSS PER SHARE (Schedule of Sha
LOSS PER SHARE (Schedule of Shares Used in Basic and Diluted Loss Per Common Share Computations) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Numerator: | ||||||
Net loss available in basic and diluted calculation | $ (1,185,327) | $ (1,735,954) | $ (1,411,122) | $ (3,352,949) | $ (6,833,568) | $ (9,406,304) |
Denominator: | ||||||
Weighted average common shares outstanding-basic | 3,263,356 | 2,968,279 | 3,182,706 | 2,958,965 | 2,990,471 | 2,026,115 |
Effect of diluted stock options and warrants | ||||||
Weighted average common shares outstanding-basic | 3,263,356 | 2,968,279 | 3,182,706 | 2,958,965 | 2,990,471 | 2,026,115 |
Weighted average common shares outstanding-diluted | 2,990,471 | 2,026,115 | ||||
Loss per common share-basic and diluted | $ (0.36) | $ (0.58) | $ (0.44) | $ (1.13) | $ (2.29) | $ (4.64) |
[1] | The number of shares underlying options and warrants outstanding as of June 30, 2015 and June 30, 2014 are 1,133,856 and 847,848 respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive. | |||||
[2] | The number of shares underlying options and warrants outstanding as of December 31, 2014 and December 31, 2013 are 949,323 and 847,777, respectively. The effect of the shares that would be issued upon exercise of such options and warrants has been excluded from the calculation of diluted loss per share because those shares are anti-dilutive |
LOSS PER SHARE (Narrative) (Det
LOSS PER SHARE (Narrative) (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 | Dec. 31, 2013 |
LOSS PER SHARE [Abstract] | ||||
Options and Warrants Outstanding | $ 1,133,856 | $ 949,323 | $ 847,848 | $ 847,777 |
INCOME TAXES (Narrative) (Detai
INCOME TAXES (Narrative) (Details) - USD ($) $ in Millions | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Tax Credit Carryforward [Line Items] | |||
Valuation Allowance Percentage | 100.00% | 100.00% | |
Operating Loss Carryforwards, Expiration Period | December 312,022 | December 312,022 | |
Domestic Tax Authority [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Operating Loss Carryforwards | $ 19.9 | $ 18.7 | $ 13 |
Operating Loss Carryforwards, Valuation Allowance | $ 8.1 | $ 6 | |
Operating Loss Carryforwards, Expiration Period | beginning in 2022 | beginning in 2022 | beginning in 2022 |
State and Local Jurisdiction [Member] | |||
Tax Credit Carryforward [Line Items] | |||
Operating Loss Carryforwards | $ 12.4 | $ 13.6 | |
Operating Loss Carryforwards, Valuation Allowance | $ 1 | $ 1.2 | |
Operating Loss Carryforwards, Expiration Period | 2022 through 2034 | 2022 through 2033 |
INCOME TAXES (Schedule of Compo
INCOME TAXES (Schedule of Components of Deferred Income Taxes) (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Deferred Tax Asset: | ||||
Net Operating Loss | $ 7,919,000 | $ 7,919,000 | $ 3,259,000 | |
Other | 1,150,000 | 1,150,000 | 59,000 | |
Total Deferred Tax Asset | 9,069,000 | 9,069,000 | 3,318,000 | |
Less Valuation Allowance | $ 9,069,000 | $ 9,069,000 | 3,318,000 | |
Net Deferred Income Taxes | $ 0 | $ 0 |
RENT OBLIGATION (Narrative) (De
RENT OBLIGATION (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
RENT OBLIGATION [Abstract] | ||||||
Operating Leases, Rent Expense | $ 15,823 | $ 15,447 | $ 34,256 | $ 33,056 | $ 64,753 | $ 61,150 |
Lease Expiration Date | Jan. 31, 2018 | Jan. 31, 2018 | ||||
Lease Period Extended | 5 years | 5 years |
RENT OBLIGATION (Schedule of Re
RENT OBLIGATION (Schedule of Rent Obligation) (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014 |
RENT OBLIGATION [Abstract] | ||
2,015 | $ 37,000 | |
2,015 | $ 18,500 | |
2,016 | 38,000 | 38,000 |
2,017 | 39,000 | 39,000 |
2,018 | $ 3,600 | $ 3,000 |
2,019 |
LIABILITY FOR EQUITY-LINKED F42
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS (Narrative) (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2013 | Jan. 02, 2009 | |
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Warrants Not Settleable In Cash, Fair Value Disclosure | $ 479,910 | |||||
Weighted Average Remaining Life | 2 years 6 months | |||||
Additional Paid in Capital | 486,564 | |||||
Retained Earnings (Accumulated Deficit) | 6,654 | |||||
Total Current Liabilities | $ 6,889,678 | $ 6,203,321 | $ 3,469,065 | $ 479,910 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 59.00% | 59.00% | 63.00% | |||
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price | $ 34.50 | |||||
Share Price | $ 26.25 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 1.37% | |||||
Minimum [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Weighted Average Remaining Life | 2 years | 2 years | ||||
Reduction In Stock Price | $ 16.50 | |||||
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price | $ 0.75 | $ 0.75 | ||||
Share Price | $ 3.75 | $ 3.75 | ||||
Maximum [Member] | ||||||
Derivative Instruments and Hedging Activities Disclosures [Line Items] | ||||||
Weighted Average Remaining Life | 6 years 6 months | 6 years 6 months | ||||
Reduction In Stock Price | $ 37.50 | |||||
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Exercise Price | $ 26.613 | $ 24.38 | ||||
Share Price | $ 37.50 | $ 37.50 |
LIABILITY FOR EQUITY-LINKED F43
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS (Schedule of Inputs to Black-Scholes Model) (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2009 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock price | $ 26.25 | ||
Exercise price | $ 34.50 | ||
Expected life | 2 years 6 months | ||
Expected volatility | 59.00% | 59.00% | 63.00% |
Assumed dividend rate | 0.00% | ||
Risk-free interest rate - Minimum | 0.13% | 0.13% | |
Risk-free interest rate - Maximum | 2.97% | 2.97% | |
Minimum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock price | $ 3.75 | $ 3.75 | |
Exercise price | $ 0.75 | $ 0.75 | |
Expected life | 2 years | 2 years | |
Maximum [Member] | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Stock price | $ 37.50 | $ 37.50 | |
Exercise price | $ 26.613 | $ 24.38 | |
Expected life | 6 years 6 months | 6 years 6 months |
LIABILITY FOR EQUITY-LINKED F44
LIABILITY FOR EQUITY-LINKED FINANCIAL INSTRUMENTS (Schedule of Original Valuations, Annual Gain/(Loss) and End of Year Valuations) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||||
Sep. 30, 2010 | Jun. 30, 2010 | Mar. 31, 2010 | Dec. 31, 2009 | Sep. 30, 2009 | Jun. 30, 2009 | Sep. 30, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | |
Class of Warrant or Right [Line Items] | |||||||||
Initial Value | $ 31,506 | $ 31,332 | $ 25,553 | $ 12,698 | $ 39,743 | $ 169,854 | $ 702,205 | $ 479,910 | |
Annual Gain (Loss) | 617 | (738) | 20,847 | $ (369,642) | (390,368) | ||||
Total | 790,596 | ||||||||
Value At 2009 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Initial Value | 12,081 | 40,481 | 149,007 | $ 1,071,847 | 870,278 | ||||
Total | 1,071,847 | ||||||||
Value At 2010 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Initial Value | 10,615 | 592 | 539 | 28 | 62 | 1,604 | 1,506 | ||
Total | 14,946 | ||||||||
Gain Loss 2010 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Annual Gain (Loss) | 20,891 | 30,740 | 25,014 | 12,053 | 40,419 | 147,403 | 868,772 | ||
Total | 1,145,292 | ||||||||
Value At 2011 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Initial Value | 54,775 | 6,714 | 6,109 | 752 | 1,624 | 6,293 | 89,796 | ||
Total | 166,063 | ||||||||
Gain Loss 2011 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Annual Gain (Loss) | (44,160) | (6,122) | (5,570) | (724) | (1,562) | $ (4,689) | (88,290) | ||
Total | (151,117) | ||||||||
Value At 2012 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Initial Value | 53,437 | 631 | 2,408 | 337 | 714 | 111,652 | |||
Total | 169,179 | ||||||||
Gain Loss 2012 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Annual Gain (Loss) | $ 1,338 | $ 6,083 | $ 3,701 | $ 415 | $ 910 | $ 6,293 | (21,856) | ||
Total | (3,116) | ||||||||
Value At 2013 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Initial Value | 11,599 | ||||||||
Total | 11,599 | ||||||||
Gain Loss 2013 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Annual Gain (Loss) | $ 53,437 | $ 631 | $ 2,408 | $ 337 | $ 714 | $ 100,053 | |||
Total | $ 157,580 | ||||||||
Value at 2014 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Initial Value | |||||||||
Gain Loss 2014 [Member] | |||||||||
Class of Warrant or Right [Line Items] | |||||||||
Annual Gain (Loss) | $ 11,599 | ||||||||
Total | $ 11,599 |
RELATED PARTY TRANSACTIONS (Det
RELATED PARTY TRANSACTIONS (Details) - USD ($) | Jul. 23, 2014 | Sep. 11, 2013 | Nov. 30, 2014 | Feb. 28, 2014 | Jan. 31, 2014 | Dec. 31, 2013 | Oct. 31, 2013 | May. 31, 2013 | Apr. 30, 2013 | Nov. 30, 2012 | Aug. 31, 2012 | May. 31, 2012 | Apr. 30, 2012 | Mar. 31, 2012 | Jun. 30, 2015 | Dec. 31, 2014 | Dec. 31, 2014 | May. 31, 2015 | Sep. 30, 2014 | Sep. 09, 2014 | Aug. 31, 2014 | Aug. 04, 2014 | Jul. 31, 2014 | Jun. 30, 2014 | Feb. 04, 2014 | Jun. 30, 2013 | Dec. 31, 2012 | Aug. 15, 2012 | Mar. 28, 2012 | Mar. 14, 2012 |
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Convertible note (as a percentage) | 20.00% | 20.00% | 20.00% | |||||||||||||||||||||||||||
Principal amount | $ 156,243 | $ 600,000 | $ 240,000 | |||||||||||||||||||||||||||
Effective interest rate (as a percent) | 24.00% | 24.00% | 24.00% | |||||||||||||||||||||||||||
Advance under note | 300,000 | |||||||||||||||||||||||||||||
Cash advance net Of interest | $ 60,000 | |||||||||||||||||||||||||||||
Conversion price (in dollars per share) | $ 0.014 | $ 7.50 | $ 7.50 | $ 4.88 | ||||||||||||||||||||||||||
Conversion of units | $ 600,000 | |||||||||||||||||||||||||||||
Other shares issued (in shares) | 20,623 | |||||||||||||||||||||||||||||
Shares issued, three (in shares) | 20,833 | |||||||||||||||||||||||||||||
Proceeds from related party debt | $ 155,000 | |||||||||||||||||||||||||||||
Convertible note due date | Aug. 31, 2013 | |||||||||||||||||||||||||||||
Description of transaction | (i) financing raising not less than $1 million, compensation of $75,000; (ii) a going private transaction, compensation of $200,000; and (iii) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $3,000,000. In May 2013 Dr. Herschkowitz received $75,000 after the Company surpassed raising $1 million. On January 6, 2014 a side-letter to the forbearance agreement was signed between Dr. Herschkowitz and the Company. Skyline agreed that the private offering for its Series A Convertible Preferred Stock, plus any future offering of any class of its preferred stock, shall be considered a NASDAQ underwriting for purposes of Section 8(e) of the Forbearance Agreement. As such Dr. Herschkowitz received $200,000 or 3% of the gross proceeds of any such offering per the terms of Section 8(e) of the Forbearance Agreement. In addition, any listing of the Company's shares on the New York Stock Exchange shall qualify as a NASDAQ underwriting under the Forbearance Agreement. For the avoidance of doubt, the payment in the aggregate for all offerings qualifying as a NASDAQ underwriting shall under no circumstances be less than $200,000 or greater than $1,000,000. Section 8(e) of the Forbearance Agreement will apply to any transactions consummated by Skyline on or before June 30, 2014. | (i) financing raising not less than $ million, compensation of $ ; (ii) a going private transaction, compensation of $ or greater; and (iii) % of the gross proceeds of the NASDAQ underwriting, which payment shall under circumstances be less than $ or greater than $ . In May 2013 Dr. Herschkowitz received $ after the Company surpassed raising $ million. | ||||||||||||||||||||||||||||
Shares issued | 13,700 | 13,333 | 4,762 | 13,889 | ||||||||||||||||||||||||||
Compensation payment pursuant to merger | listing the Company's shares on NASDAQ pursuant to an underwritten offering of the Company's securities resulting in gross proceeds of between $5 million and $30 million, then the Company would have been required to deliver to Dr. Herschkowitz the following compensation: (A) $75,000 upon consummating the shell merger, (B) $150,000 upon consummating the qualifying financing round; and (C) 3% of the gross proceeds of the NASDAQ underwriting, which payment shall under no circumstances be less than $200,000 or greater than $1,000,000. The Company was also required to reimburse Dr. Herschkowitz at his actual out-of-pocket cost for reasonable expenses incurred in connection with the shell transactions, with a maximum limit of $10,000 for such expenses. | listing the Company's shares on NASDAQ pursuant to an underwritten offering of the Company's securities resulting in gross proceeds of between $ million and $ million, then the Company would have to be required to deliver to Dr. Herschkowitz the following compensation: (A) $ upon consummating the shell merger, (B) $ upon consummating the qualifying financing round; and (C) % of the gross proceeds of the NASDAQ underwriting, which payment shall under circumstances be less than $ or greater than $ . The Company was also required to reimburse Dr. Herschkowitz at his actual out-of-pocket cost for reasonable expenses incurred in connection with the shell transactions, with a maximum limit of $ for such expenses. | ||||||||||||||||||||||||||||
Value of new shares issued | $ 2,055,000 | $ 2,055,001 | $ 2,055,000 | |||||||||||||||||||||||||||
Number of securities called by warrants or rights | 5,431 | 21,538 | 37,440 | 61,539 | 61,539 | 28,986 | 4,831 | 5,926 | ||||||||||||||||||||||
Original principal amount | $ 156,243 | $ 933,073 | ||||||||||||||||||||||||||||
Aggregate purchase price | $ 100,000 | |||||||||||||||||||||||||||||
Redemption price, percentage | 140.00% | 140.00% | ||||||||||||||||||||||||||||
Preferred stock [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Value of new shares issued | $ 206 | |||||||||||||||||||||||||||||
Non-convertible grid note [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Effective interest rate (as a percent) | 10.00% | 10.00% | 10.00% | |||||||||||||||||||||||||||
Convertible notes payable [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Original principal amount | $ 275,000 | |||||||||||||||||||||||||||||
Minimum [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Proceeds from offering of securities | $ 2,000,000 | |||||||||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Proceeds from offering of securities | $ 4,000,000 | |||||||||||||||||||||||||||||
First advance [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Advance under note | $ 300,000 | |||||||||||||||||||||||||||||
Second advance [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Advance under note | $ 84,657 | |||||||||||||||||||||||||||||
Samuel Herschkowitz [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Shares issued, two (in shares) | 353,334 | |||||||||||||||||||||||||||||
Shares issued | 100,000 | |||||||||||||||||||||||||||||
Accrued interest (as a percent) | 20.00% | |||||||||||||||||||||||||||||
Periodic payment | $ 314,484 | |||||||||||||||||||||||||||||
Number of shares converted | 299,509 | |||||||||||||||||||||||||||||
Samuel Herschkowitz [Member] | Non-convertible grid note [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Gross proceeds received in advance (as a percent) | 10.00% | |||||||||||||||||||||||||||||
Samuel Herschkowitz [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Conversion price (in dollars per share) | $ 1.05 | |||||||||||||||||||||||||||||
Interest rate on event of default (as a percent) | 20.00% | |||||||||||||||||||||||||||||
Samuel Herschkowitz [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Conversion price (in dollars per share) | $ 4.88 | |||||||||||||||||||||||||||||
Interest rate on event of default (as a percent) | 24.00% | |||||||||||||||||||||||||||||
Sok Partners [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Notes payable | $ 357,282 | |||||||||||||||||||||||||||||
Advance under note | $ 300,000 | |||||||||||||||||||||||||||||
Conversion of units (in shares) | 61,539 | 61,539 | ||||||||||||||||||||||||||||
Additional issue Of common stock (in shares) | 213,334 | |||||||||||||||||||||||||||||
Shares issued | 176,667 | |||||||||||||||||||||||||||||
Periodic payment | $ 680,444 | |||||||||||||||||||||||||||||
Number of shares converted | 648,050 | |||||||||||||||||||||||||||||
Sok Partners [Member] | Non-convertible grid note [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Notes payable | $ 305,589.04 | |||||||||||||||||||||||||||||
Proceeds from notes payable | $ 20,000 | $ 300,000 | ||||||||||||||||||||||||||||
Maturity date | Feb. 28, 2014 | |||||||||||||||||||||||||||||
Amount received in three tranches | $ 250,000 | |||||||||||||||||||||||||||||
Increase in interest in case of default | 20.00% | |||||||||||||||||||||||||||||
Dr. Samuel Herschkowitz and SOK Partners, LLC [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Shares issued | 176,667 | |||||||||||||||||||||||||||||
Dr. Samuel Herschkowitz and SOK Partners, LLC [Member] | Minimum [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Equity bonus valued at common stock (in dollars per share) | $ 1.05 | |||||||||||||||||||||||||||||
Dr. Samuel Herschkowitz and SOK Partners, LLC [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Equity bonus valued at common stock (in dollars per share) | $ 4.88 | |||||||||||||||||||||||||||||
SOK Partners, LLC, [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Number of securities called by warrants or rights | 4,831 | |||||||||||||||||||||||||||||
Original principal amount | $ 122,196 | $ 108,696 | ||||||||||||||||||||||||||||
Original issue discount (as a percent) | 8.70% | |||||||||||||||||||||||||||||
CEO [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Number of securities called by warrants or rights | 52 | |||||||||||||||||||||||||||||
CEO [Member] | Preferred stock [Member] | ||||||||||||||||||||||||||||||
Related party transaction [Line Items] | ||||||||||||||||||||||||||||||
Shares issued | 25,000 | |||||||||||||||||||||||||||||
Value of new shares issued | $ 19,231 |
Retirement Savings Plan (Detail
Retirement Savings Plan (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
Retirement Savings Plan [Abstract] | ||||||
Employer matching contribution (as a percent) | 100.00% | 100.00% | ||||
Maximum contributions per employee (as a percent) | 4.00% | 4.00% | ||||
Employer contribution | $ 6,652 | $ 8,171 | $ 14,713 | $ 12,304 | $ 37,730 | $ 32,790 |
Commitments and Contingencies (
Commitments and Contingencies (Details) | Apr. 29, 2015item | Apr. 27, 2015USD ($) | Jun. 30, 2015USD ($) | Dec. 31, 2014USD ($) |
Commitments and Contingencies [Line Items] | ||||
Settlement amount | $ 500,000 | $ 500,000 | ||
Litigation liability payable | $ 200,000 | $ 200,000 | ||
Settlement agreement term | Payment of the outstanding balance under the Settlement Agreement will be accelerated if the Company raises $2 million or more of gross dollars in a single funding round or raises aggregate funding of $4 million of gross dollars on or before April 10, 2015 | Payment of the outstanding balance under the Settlement Agreement will be accelerated if the Company raises $ million or more of gross dollars in a single funding round or raises aggregate funding of $ million of gross dollars on or before April 10, 2015. | ||
Subsequent Event [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Settlement amount | $ 50,000 | |||
Interest percentage | 18.00% | |||
Settlement agreement term | that if Skyline obtains gross funding, as measured from all its funding and revenue beginning on April 1, 2015, in the amounts specified below, payment shall accelerate as follows: if Skyline obtains gross funding of at least $2,000,000 or more but less than $4,000,000, it shall immediately pay $250,000 to Ryan toward the current balance; if Skyline obtain gross funding of at least $4,000,000 or more, it shall immediately pay any portion of the current balance, third extension payment and interest not already paid. Additionally, incremental payments to be deducted from the current balance will be made in the following amounts: Skyline will pay $15,000 on or before May 29, 2015. | |||
Subsequent Event [Member] | Darryl C. Demaray, Brady P. Farrell, Christopher S. Howell and Ronald W. Walters v. Skyline Medical Inc [Member] | ||||
Commitments and Contingencies [Line Items] | ||||
Number of plaintiffs | item | 4 |
SUPPLEMENTAL CASH FLOW DATA (De
SUPPLEMENTAL CASH FLOW DATA (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2015 | Jun. 30, 2014 | Jun. 30, 2015 | Jun. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | |
SUPPLEMENTAL CASH FLOW DATA [Abstract] | ||||||
Cash payments for interest | $ 441 | $ 3,468 | $ 10,161 | $ 21,606 | $ 47,111 | $ 57,281 |