Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Jul. 31, 2019 | |
Document Information Line Items | ||
Entity Registrant Name | BIOSIG TECHNOLOGIES, INC. | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 21,753,878 | |
Amendment Flag | false | |
Entity Central Index Key | 0001530766 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Entity Small Business | true | |
Entity Emerging Growth Company | true | |
Entity Shell Company | false | |
Entity Ex Transition Period | true | |
Entity Interactive Data Current | Yes |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash | $ 10,333,966 | $ 4,450,160 |
Prepaid expenses | 306,443 | 178,442 |
Total current assets | 10,640,409 | 4,628,602 |
Property and equipment, net | 77,746 | 44,346 |
Right-to-use assets, net | 813,990 | 0 |
Other assets: | ||
Patents, net | 374,039 | 268,796 |
Trademarks | 1,125 | 850 |
Deposits | 155,068 | 54,238 |
Total assets | 12,062,377 | 4,996,832 |
Current liabilities: | ||
Accounts payable and accrued expenses, including $14,546 and $32,366 to related parties as of June 30, 2019 and December 31, 2018, respectively | 942,869 | 954,655 |
Dividends payable | 118,724 | 242,908 |
Lease liability, short term | 352,482 | 0 |
Total current liabilities | 1,414,075 | 1,197,563 |
Lease liability, long term | 468,272 | 0 |
Total debt | 1,882,347 | 1,197,563 |
Convertible Preferred Stock | 215,000 | 475,000 |
Stockholders' equity | ||
Preferred stock | 0 | 0 |
Common stock, $0.001 par value, authorized 200,000,000 shares, 21,151,134 and 16,868,783 issued and outstanding as of June 30, 2019 and December 31, 2018, respectively | 21,151 | 16,869 |
Additional paid in capital | 94,494,972 | 74,039,341 |
Accumulated deficit | (84,551,093) | (70,731,941) |
Total stockholders' equity (deficit) | 9,965,030 | 3,324,269 |
Total liabilities and stockholders' equity (deficit) | $ 12,062,377 | $ 4,996,832 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Accounts payable and accrued expenses, related parties (in Dollars) | $ 14,546 | $ 32,366 |
Preferred stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Common stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 200,000,000 | 200,000,000 |
Common stock, shares issued | 21,151,134 | 16,868,783 |
Common stock, shares outstanding | 21,151,134 | 16,868,783 |
Series C Preferred Stock [Member] | ||
Preferred stock, shares issued | 215 | 475 |
Preferred stock, shares outstanding | 215 | 475 |
Preferred stock, liquidation preference (in Dollars) | $ 215,000 | $ 475,000 |
Preferred stock, shares authorized | 4,200 | 4,200 |
Preferred stock, shares ouststanding | 215 | 475 |
Series A Preferred Stock [Member] | ||
Preferred stock, shares authorized | 200 | 200 |
Preferred stock, shares ouststanding | 0 | 0 |
Series B Preferred Stock [Member] | ||
Preferred stock, shares authorized | 600 | 600 |
Preferred stock, shares ouststanding | 0 | 0 |
Series D Preferred Stock [Member] | ||
Preferred stock, shares authorized | 1,400 | 1,400 |
Preferred stock, shares ouststanding | 0 | 0 |
Series E Preferred Stock [Member] | ||
Preferred stock, shares authorized | 1,000 | 1,000 |
Preferred stock, shares ouststanding | 0 | 0 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Operating expenses: | ||||
Research and development | $ 1,817,959 | $ 1,449,508 | $ 3,306,798 | $ 2,311,928 |
General and administrative | 6,160,812 | 4,314,552 | 10,539,709 | 6,086,348 |
Depreciation and amortization | 9,979 | 2,926 | 17,914 | 5,829 |
Total operating expenses | 7,988,750 | 5,766,986 | 13,864,421 | 8,404,105 |
Loss from operations | (7,988,750) | (5,766,986) | (13,864,421) | (8,404,105) |
Other income (expense): | ||||
Interest income | 39,146 | 263 | 45,269 | 348 |
Loss before income taxes | (7,949,604) | (5,766,723) | (13,819,152) | (8,403,757) |
Income taxes (benefit) | 0 | 0 | ||
Net loss | (7,949,604) | (5,766,723) | (13,819,152) | (8,403,757) |
Preferred stock dividend | (4,868) | (280,867) | (15,409) | (585,913) |
NET LOSS AVAILABLE TO COMMON STOCKHOLDERS | $ (7,954,472) | $ (6,047,590) | $ (13,834,561) | $ (8,989,670) |
Net loss per common share, basic and diluted (in Dollars per share) | $ (0.38) | $ (0.44) | $ (0.72) | $ (0.70) |
Weighted average number of common shares outstanding, basic and diluted (in Shares) | 20,671,193 | 13,807,284 | 19,267,514 | 12,897,585 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) - USD ($) | Common Stock [Member]Series C Preferred Stock [Member]Settlement of Preferred Stock [Member] | Common Stock [Member]Series C Preferred Stock [Member] | Common Stock [Member]Series D Preferred Stock [Member]Settlement of Preferred Stock [Member] | Common Stock [Member]Series D Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member]Series C Preferred Stock [Member]Settlement of Preferred Stock [Member] | Additional Paid-in Capital [Member]Series C Preferred Stock [Member] | Additional Paid-in Capital [Member]Series D Preferred Stock [Member]Settlement of Preferred Stock [Member] | Additional Paid-in Capital [Member]Series D Preferred Stock [Member] | Additional Paid-in Capital [Member]Series E Preferred Stock [Member] | Additional Paid-in Capital [Member] | Common Stock Subscription [Member] | Retained Earnings [Member] | Preferred Stock [Member]Series D Preferred Stock [Member] | Preferred Stock [Member]Series E Preferred Stock [Member] | Series C Preferred Stock [Member]Settlement of Preferred Stock [Member] | Series C Preferred Stock [Member] | Series D Preferred Stock [Member]Settlement of Preferred Stock [Member] | Series E Preferred Stock [Member] | Total |
Balance at Dec. 31, 2017 | $ 11,728 | $ 53,233,228 | $ 29,985 | $ (56,524,786) | $ 1 | $ (3,249,844) | ||||||||||||||
Balance (in Shares) at Dec. 31, 2017 | 11,728,482 | 1,334 | ||||||||||||||||||
Fair value reclassification | 3,044,162 | 3,044,162 | ||||||||||||||||||
Common stock issued for services | $ 580 | 2,530,920 | 2,531,500 | |||||||||||||||||
Common stock issued for services (in Shares) | 580,000 | |||||||||||||||||||
Sale of common stock | $ 1,413 | 5,297,017 | (29,985) | 5,268,445 | ||||||||||||||||
Sale of common stock (in Shares) | 1,413,202 | |||||||||||||||||||
Common stock issued upon exercise of warrants | $ 114 | 427,782 | 427,896 | |||||||||||||||||
Common stock issued upon exercise of warrants (in Shares) | 114,106 | |||||||||||||||||||
Common stock issued upon conversion of preferred stock and accrued dividends | $ 47 | $ 109 | $ 159 | $ 534 | $ 187,759 | $ 409,891 | $ 540,112 | $ (533) | $ (1) | $ 187,806 | $ 410,000 | $ 540,271 | ||||||||
Common stock issued upon conversion of preferred stock and accrued dividends (in Shares) | 46,632 | 109,335 | 158,365 | 533,600 | (1,334) | |||||||||||||||
Sale of Series E Preferred stock | $ 1,492,968 | $ 1 | $ 1,492,969 | |||||||||||||||||
Sale of Series E Preferred stock (in Shares) | 1,000 | |||||||||||||||||||
Change in fair value of modified options | 0 | |||||||||||||||||||
Stock based compensation | 1,414,021 | 1,414,021 | ||||||||||||||||||
Preferred Stock dividend | (585,913) | (585,913) | ||||||||||||||||||
Net loss | (8,403,757) | (8,403,757) | ||||||||||||||||||
Balance at Jun. 30, 2018 | $ 14,684 | 64,947,252 | (61,884,381) | $ 1 | 3,077,556 | |||||||||||||||
Balance (in Shares) at Jun. 30, 2018 | 14,683,722 | 1,000 | ||||||||||||||||||
Balance at Mar. 31, 2018 | $ 12,199 | 55,399,685 | 115,470 | (56,117,658) | $ 1 | $ 1 | (590,302) | |||||||||||||
Balance (in Shares) at Mar. 31, 2018 | 12,199,084 | 687 | 1,000 | |||||||||||||||||
Common stock issued for services | $ 540 | 2,388,960 | 2,389,500 | |||||||||||||||||
Common stock issued for services (in Shares) | 540,000 | |||||||||||||||||||
Sale of common stock | $ 1,333 | 4,997,112 | (115,470) | 4,882,975 | ||||||||||||||||
Sale of common stock (in Shares) | 1,333,202 | |||||||||||||||||||
Common stock issued upon exercise of warrants | $ 114 | 427,782 | 427,896 | |||||||||||||||||
Common stock issued upon exercise of warrants (in Shares) | 114,106 | |||||||||||||||||||
Common stock issued upon conversion of preferred stock and accrued dividends | $ 44 | $ 104 | $ 75 | $ 275 | 179,486 | 389,896 | $ 278,161 | $ (274) | $ (1) | 179,530 | 390,000 | $ 278,236 | ||||||||
Common stock issued upon conversion of preferred stock and accrued dividends (in Shares) | 43,994 | 104,001 | 74,535 | 274,800 | (687) | |||||||||||||||
Stock based compensation | 1,167,311 | 1,167,311 | ||||||||||||||||||
Preferred Stock dividend | (280,867) | (280,867) | ||||||||||||||||||
Net loss | (5,766,723) | (5,766,723) | ||||||||||||||||||
Balance at Jun. 30, 2018 | $ 14,684 | 64,947,252 | (61,884,381) | $ 1 | 3,077,556 | |||||||||||||||
Balance (in Shares) at Jun. 30, 2018 | 14,683,722 | 1,000 | ||||||||||||||||||
Balance at Dec. 31, 2018 | $ 16,869 | 74,039,341 | (70,731,941) | $ 3,324,269 | ||||||||||||||||
Balance (in Shares) at Dec. 31, 2018 | 16,868,783 | 16,868,783 | ||||||||||||||||||
Common stock issued for services | $ 560 | 2,332,640 | $ 2,333,200 | |||||||||||||||||
Common stock issued for services (in Shares) | 560,000 | |||||||||||||||||||
Sale of common stock | $ 2,155 | 8,617,123 | 8,619,278 | |||||||||||||||||
Sale of common stock (in Shares) | 2,155,127 | |||||||||||||||||||
Common stock issued upon exercise of warrants | $ 1,130 | 4,617,357 | 4,618,487 | |||||||||||||||||
Common stock issued upon exercise of warrants (in Shares) | 1,130,029 | |||||||||||||||||||
Common stock issued upon exercise of options | $ 94 | 444,744 | 444,838 | |||||||||||||||||
Common stock issued upon exercise of options (in Shares) | 93,500 | |||||||||||||||||||
Common stock issued upon cashless exercise of warrants | $ 161 | (161) | ||||||||||||||||||
Common stock issued upon cashless exercise of warrants (in Shares) | 160,962 | |||||||||||||||||||
Common stock issued upon cashless exercise of options | $ 39 | (39) | ||||||||||||||||||
Common stock issued upon cashless exercise of options (in Shares) | 38,687 | |||||||||||||||||||
Common stock issued upon conversion of preferred stock and accrued dividends | $ 21 | $ 69 | 139,571 | 259,931 | 139,592 | 260,000 | ||||||||||||||
Common stock issued upon conversion of preferred stock and accrued dividends (in Shares) | 21,379 | 69,335 | ||||||||||||||||||
Change in fair value of modified options | 666,062 | 666,062 | ||||||||||||||||||
Stock based compensation | $ 53 | 3,393,812 | 3,393,865 | |||||||||||||||||
Stock based compensation (in Shares) | 53,332 | |||||||||||||||||||
Preferred Stock dividend | (15,409) | (15,409) | ||||||||||||||||||
Net loss | (13,819,152) | (13,819,152) | ||||||||||||||||||
Balance at Jun. 30, 2019 | $ 21,151 | 94,494,972 | (84,551,093) | 9,965,030 | ||||||||||||||||
Balance (in Shares) at Jun. 30, 2019 | 21,151,134 | |||||||||||||||||||
Balance at Mar. 31, 2019 | $ 20,010 | 86,465,732 | 309,000 | (76,601,489) | 10,193,253 | |||||||||||||||
Balance (in Shares) at Mar. 31, 2019 | 20,009,985 | |||||||||||||||||||
Common stock issued upon exercise of warrants | $ 832 | 3,466,875 | $ (309,000) | 3,158,707 | ||||||||||||||||
Common stock issued upon exercise of warrants (in Shares) | 831,710 | |||||||||||||||||||
Common stock issued upon exercise of options | $ 94 | 444,744 | 444,838 | |||||||||||||||||
Common stock issued upon exercise of options (in Shares) | 93,500 | |||||||||||||||||||
Common stock issued upon cashless exercise of warrants | $ 56 | (56) | ||||||||||||||||||
Common stock issued upon cashless exercise of warrants (in Shares) | 56,538 | |||||||||||||||||||
Common stock issued upon cashless exercise of options | $ 39 | (39) | ||||||||||||||||||
Common stock issued upon cashless exercise of options (in Shares) | 38,687 | |||||||||||||||||||
Common stock issued upon conversion of preferred stock and accrued dividends | $ 21 | $ 69 | $ 139,571 | $ 259,931 | $ 139,592 | $ 260,000 | ||||||||||||||
Common stock issued upon conversion of preferred stock and accrued dividends (in Shares) | 21,379 | 69,335 | ||||||||||||||||||
Change in fair value of modified options | 666,062 | 666,062 | ||||||||||||||||||
Stock based compensation | $ 30 | 3,057,020 | 3,057,050 | |||||||||||||||||
Stock based compensation (in Shares) | 30,000 | |||||||||||||||||||
Preferred Stock dividend | (4,868) | (4,868) | ||||||||||||||||||
Net loss | (7,949,604) | (7,949,604) | ||||||||||||||||||
Balance at Jun. 30, 2019 | $ 21,151 | $ 94,494,972 | $ (84,551,093) | $ 9,965,030 | ||||||||||||||||
Balance (in Shares) at Jun. 30, 2019 | 21,151,134 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (Parentheticals) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Common stock issued upon exercise of warrants | $ 4.17 | $ 4.02 | $ 3.75 | |
Common stock issued upon exercise of options | $ 4.76 | $ 4.76 | ||
Series C Preferred Stock [Member] | ||||
Common stock issued upon conversion of preferred stock and accrued dividends (in Dollars) | $ 3.75 | $ 3.75 | $ 3.75 | $ 3.75 |
Series C Preferred Stock [Member] | Settlement of Preferred Stock [Member] | ||||
Common stock issued upon conversion of preferred stock and accrued dividends (in Dollars) | $ 6.53 | $ 4.08 | $ 6.53 | $ 4.025 |
Common Stock [Member] | ||||
Common stock issued upon exercise of warrants | $ 3.75 | $ 4.09 | ||
Preferred Stock [Member] | Series D Preferred Stock [Member] | ||||
Common stock issued upon conversion of preferred stock and accrued dividends | 3.75 | $ 3.75 | ||
Preferred Stock [Member] | Series D Preferred Stock [Member] | Settlement of Preferred Stock [Member] | ||||
Common stock issued upon conversion of preferred stock and accrued dividends | 3.40 | 3.40 | ||
Preferred Stock [Member] | Series D Preferred Stock [Member] | Series E Preferred Stock [Member] | ||||
Common stock issued upon conversion of preferred stock and accrued dividends | $ 3.73 | $ 3.73 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (13,819,152) | $ (8,403,757) |
Adjustments to reconcile net loss to cash used in operating activities: | ||
Depreciation | 17,914 | 5,829 |
Equity based compensation | 5,727,065 | 3,945,521 |
Change in fair value of modified options | 666,062 | 0 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (159,067) | (49,174) |
Payment of long term deposit | (69,764) | (42,124) |
Accounts payable | (8,410) | (254,457) |
Change in derivative liabilities | 3,387 | 0 |
Deferred rent payable | 0 | 854 |
Net cash used in operating activities | (7,641,965) | (4,797,308) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Payments of patent costs | (111,316) | (258,233) |
Payment of trademark costs | (275) | 0 |
Purchase of property and equipment | (45,241) | (8,211) |
Net cash used in investing activity | (156,832) | (266,444) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from sale of common stock | 8,619,278 | 5,268,445 |
Proceeds from sale of Series E preferred stock | 0 | 1,492,969 |
Proceeds from exercise of warrants | 4,618,487 | 427,896 |
Proceeds from exercise of options | 444,838 | 0 |
Net cash provided by financing activities | 13,682,603 | 7,189,310 |
Net increase in cash and cash equivalents | 5,883,806 | 2,125,558 |
Cash and cash equivalents, beginning of the period | 4,450,160 | 1,547,579 |
Cash and cash equivalents, end of the period | 10,333,966 | 3,673,137 |
Supplemental disclosures of cash flow information: | ||
Cash paid during the period for interest | 0 | 0 |
Cash paid during the period for income taxes | 0 | 0 |
Non cash investing and financing activities: | ||
Reclassify derivative liability to equity | 3,044,162 | |
Dividend payable on preferred stock charged to additional paid in capital | 15,409 | 585,913 |
Right-to-use assets and lease liability recorded upon adoption of ASC 842 | 422,215 | 0 |
Record right-to-use assets and related lease liability | 506,276 | 0 |
Series C Preferred Stock [Member] | ||
Non cash investing and financing activities: | ||
Common stock issued upon conversion preferred stock and accrued dividends | 399,592 | 597,806 |
Embedded Derivative Financial Instruments, Upon Issuance of Series D Preferred Stock [Member] | ||
Non cash investing and financing activities: | ||
Reclassify derivative liability to equity | 0 | 540,271 |
Upon Adoption of ASU 2017-11 [Member] | ||
Non cash investing and financing activities: | ||
Reclassify derivative liability to equity | $ 0 | $ 3,044,162 |
NOTE 1 - NATURE OF OPERATIONS A
NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 – NATURE OF OPERATIONS AND BASIS OF PRESENTATION BioSig Technologies Inc. (the “Company”) was initially incorporated on February 24, 2009 under the laws of the State of Nevada and subsequently re-incorporated in the state of Delaware in 2011. The Company is principally devoted to improving the quality of cardiac recordings obtained during EP studies and catheter ablation procedures. The Company has not generated any revenue to date and consequently its operations are subject to all risks inherent in the establishment of a new business enterprise. On November 7, 2018, the Company formed NeuroClear Technologies, Inc., a Delaware Corporation, for the purpose to pursue additional applications of the PURE EP™ signal processing technology outside of electrophysiology. As of June 30, 2019, there were no significant assets or liabilities in NeuroClear Technologies, Inc, or operations since its formation. The unaudited condensed consolidated financial statements include the accounts of BioSig Technologies, Inc. and its wholly owned subsidiary, NeuroClear Technologies, Inc. to as the “Company” or “BioSig”. The unaudited condensed consolidated interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The condensed consolidated balance sheet as of December 31, 2018 has been derived from audited financial statements. Operating results for the three and six months ended June 30, 2019 are not necessarily indicative of results that may be expected for the year ending December 31, 2019. These unaudited condensed consolidated financial statements should be read in conjunction with the audited financial statements for the year ended December 31, 2018 filed with the Company’s Form 10-K with the Securities and Exchange Commission on March 15, 2019. Effective September 10, 2018, the Company amended its Articles of Incorporation to implement a reverse stock split in the ratio of 1 share for every 2.5 shares of common stock. As a result, 40,333,758 shares of the Company’s common stock were exchanged for 16,133,544 shares of the Company's common stock. These financial statements have been retroactively restated to reflect the reverse stock split. (See Note 8) |
NOTE 2 - GOING CONCERN AND MANA
NOTE 2 - GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS | 6 Months Ended |
Jun. 30, 2019 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Substantial Doubt about Going Concern [Text Block] | NOTE 2 – GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS As of June 30, 2019, the Company had cash of $10,333,966 and working capital of $9,226,334. The Company raised approximately $8,619,000 through the sale of common stock, $4,618,000 from the exercise of previously issued warrants and $445,000 from the exercise of previously issued options during the six months ended June 30, 2019 and approximately $1,100,000 subsequent to June 30, 2019 (See Note 12). During the six months ended June 30, 2019, the Company used net cash in operating activities of $7,641,965. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. Management believes that the Company has sufficient funds to meet its research and development and other funding requirements for at least the next 10 months. The Company’s primary source of operating funds since inception has been cash proceeds from private placements of common and preferred stock. The Company has experienced net losses and negative cash flows from operations since inception and expects these conditions to continue for the foreseeable future. The Company will require additional financing to fund future operations. Further, the Company does not have any commercial products available for sale and there is no assurance that the Company will be able to generate cash flow to fund operations. In addition, there can be no assurance that the Company’s research and development will be successfully completed or that any product will be commercially viable. Accordingly, the accompanying financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the financial statements do not necessarily purport to represent realizable or settlement values. The condensed consolidated financial statements do not include any adjustment that might result from the outcome of this uncertainty. |
NOTE 3 - SUMMARY OF SIGNIFICANT
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 3 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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. Significant estimates include the recoverability and useful lives of long-lived assets, the fair value of the Company’s stock, stock-based compensation and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates. Fair Value of Financial Instruments Accounting Standards Codification subtopic 825-10, Financial Instruments (“ASC 825-10”) requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed. The Company follows Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures (“ASC 820-10”) and Accounting Standards Codification subtopic 825-10, Financial Instruments (“ASC 825-10”), which permits entities to choose to measure many financial instruments and certain other items at fair value. Derivative Instrument Liability The Company accounts for derivative instruments in accordance with ASC 815, which establishes accounting and reporting standards for derivative instruments and hedging activities, including certain derivative instruments embedded in other financial instruments or contracts and requires recognition of all derivatives on the balance sheet at fair value, regardless of hedging relationship designation. Accounting for changes in fair value of the derivative instruments depends on whether the derivatives qualify as hedge relationships and the types of relationships designated are based on the exposures hedged. At June 30, 2019 and December 31, 2018, the Company did not have any derivative instruments that were designated as hedges. At June 30, 2019 and December 31, 2018, the Company had outstanding preferred stock and warrants that contained embedded derivatives. These embedded derivatives include certain conversion features and reset provisions. On January 1, 2018, the Company adopted ASU 2017-11 and according reclassified the fair value of the reset provisions embedded in previously issued Preferred stock and certain warrants with embedded anti-dilutive provisions from liability to equity. Research and development costs The Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and developments costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $1,817,959 and $3,306,798 for the three and six months ended June 30, 2019; and $1,449,508 and $2,311,928 for the three and six months ended June 30, 2018, respectively. Concentrations of Credit Risk Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. The Company places its cash and temporary cash investments with credit quality institutions. At times, such amounts may be in excess of the FDIC insurance limit. At June 30, 2019 and December 31, 2018, deposits in excess of FDIC limits were $10,083,966 and $4,200,160, respectively. Net Income (loss) Per Common Share The Company computes earnings (loss) per share under Accounting Standards Codification subtopic 260-10, Earnings Per Share (“ASC 260-10”). Net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per share, if presented, would include the dilution that would occur upon the exercise or conversion of all potentially dilutive securities into common stock using the “treasury stock” and/or “if converted” methods as applicable. The computation of basic and diluted loss per share as of June 30, 2019 and 2018 excludes potentially dilutive securities when their inclusion would be anti-dilutive, or if their exercise prices were greater than the average market price of the common stock during the period. Potentially dilutive securities excluded from the computation of basic and diluted net income (loss) per share are as follows: June 30, 2019 June 30, 2018 Series C convertible preferred stock 57,334 153,334 Series E convertible preferred stock - 400,000 Options to purchase common stock 3,562,905 3,498,128 Warrants to purchase common stock 2,992,472 5,418,609 Totals 6,612,711 9,470,071 Stock Based Compensation The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award. For employees and directors, the fair value of the award is measured on the grant date and for non-employees, the fair value of the award is generally re-measured on vesting dates and interim financial reporting dates until the service period is complete. The fair value amount is then recognized over the period during which services are required to be provided in exchange for the award, usually the vesting period. As of June 30, 2019, the Company had 3,562,905 options outstanding to purchase shares of common stock, of which 2,867,511 were vested. As of December 31, 2018, there were outstanding stock options to purchase 3,135,828 shares of common stock, 3,007,946 shares of which were vested. Income Taxes The Company follows Accounting Standards Codification subtopic 740-10, Income Taxes (“ASC 740-10”) for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability during each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods. Patents, net The Company capitalizes certain initial asset costs in connection with patent applications including registration, documentation and other professional fees associated with the application. Patent costs incurred prior to the Company’s U.S. Food and Drug Administration (“FDA”) 510 (k) application on March 28, 2018 were charged to research and development expense as incurred. Commencing upon first in-man trials on February 18 and 19, 2019, capitalized costs are amortized to expense using the straight-line method over the lesser of the legal patent term or the estimated life of the product of 20 years. During the three and six months ended June 30, 2019, the Company recorded amortization of $4,710 and $6,073 to current period operations, respectively. Registration Rights On March 12, 2019, in connection with the Company’s Private Placement of common stock, the Company also agreed on or prior the date that is 45 calendar days after the closing date of the Private Placement, the Company will be required to use commercially reasonable efforts to prepare and file a registration statement on Form S-3 or Form S-1 with the Securities and Exchange Commission (the “ SEC Adoption of Accounting Standards In February 2016, the FASB established ASC Topic 842, Leases (Topic 842), by issuing ASU No. 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. The new standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the statement of operations. The Company adopted the new standard on January 1, 2019. The new standard provides a number of optional practical expedients in transition. The Company has elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter is not applicable to the Company. The new standard had a material effect on the Company’s financial statements. The most significant effects of adoption relate to (1) the recognition of new ROU assets and lease liabilities on its balance sheet for real estate operating leases; and (2) providing significant new disclosures about its leasing activities. Upon adoption, the Company recognized additional operating lease liabilities, net of deferred rent, of approximately $422,000 based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. The Company also recognized corresponding ROU assets of approximately $419,000. The new standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company will not recognize ROU assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. Beginning in 2019, the Company changed to its disclosed lease recognition policies and practices, as well as to other related financial statement disclosures due to the adoption of this standard. See Note 5. Recent Accounting Pronouncements There were various updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company’s financial position, results of operations or cash flows. Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the consolidated financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements, except as disclosed. |
NOTE 4 - PROPERTY AND EQUIPMENT
NOTE 4 - PROPERTY AND EQUIPMENT | 6 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4 – PROPERTY AND EQUIPMENT Property and equipment as of June 30, 2019 and December 31, 2018 is summarized as follows: June 30, 2019 December 31, 2018 Computer equipment $ 108,619 $ 105,447 Furniture and fixtures 50,364 32,619 Subtotal 158,983 138,066 Less accumulated depreciation (81,237 ) (93,720 ) Property and equipment, net $ 77,746 $ 44,346 Property and equipment are stated at cost and depreciated using the straight-line method over their estimated useful lives of 3 to 5 years. When retired or otherwise disposed, the related carrying value and accumulated depreciation are removed from the respective accounts and the net difference less any amount realized from disposition, is reflected in earnings. Depreciation expense was $6,632 and $11,841 for three and six months ended June 30, 2019; and $2,926 and $5,829 for the three and six months ended June 30, 2018, respectively. |
NOTE 5 - RIGHT TO USE ASSETS AN
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Lessee, Operating Leases [Text Block] | NOTE 5 – RIGHT TO USE ASSETS AND LEASE LIABILITY On April 12, 2019, the Company entered into a sublease agreement whereby the Company leased approximately 4,343 square feet of office space in Westport, Connecticut commencing May 1, 2019 and expiring on October 31, 2021 at an initial rate of $18,277 per month, inclusive of a fixed utility charge, with escalating payments. In connection with the lease the Company paid a security deposit of $68,764, of which $34,382 represents the last two months of the term. There is no option to extend the lease past its initial term. On May 22, 2018, the Company entered into a fifth lease amendment agreement, whereby the Company agreed to extend the lease for the original office space and expand with additional space in Los Angeles, California, commencing June 14, 2018 and expiring on June 30, 2021 at an initial rate of $14,731 per month with escalating payments. In connection with the lease, the Company is obligated to lease parking spaces at an aggregate approximate cost of $1,070 per month. In addition, the Company entered into a lease for storage space with the Los Angeles, California building commencing on December 1, 2017 and expiring on August 31, 2019 for approximately $223 per month. The Company has an option to extend the lease for an additional 3 year (option) term. On April 11, 2018, the Company extended a short-term lease agreement whereby the Company leased office space in Austin, Texas commencing on August 1, 2018 and expiring July 31, 2019 for $979 per month. On October 1, 2018, the Company entered into a lease agreement whereby the Company leased office space in Norwalk, Connecticut commencing on October 1, 2018 and expiring September 30, 2019 for $2,000 per month. In adopting ASC Topic 842, Leases (Topic 842), the Company has elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter is not applicable to the Company. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 month or less. In determining the length of the lease term to its long term lease, the Company determined not to consider an embedded 3 year option in the Los Angeles lease primarily due to i) the renewal rate is at future market rate to be determined and ii) Company does not have significant leasehold improvements that would restrict its ability to consider relocation. At lease commencement dates, the Company estimated the lease liability and the right of use assets at present value using the Company’s estimated incremental borrowing rate of 8% and determined their initial present values, at inception, of $1,002,743. On January 1, 2019, upon adoption of ASC Topic 842, the Company recorded right to use assets of $418,838, lease liability of $422,215 and eliminated deferred rent of $3,377. Right to use assets is summarized below: June 30, 2019 Los Angeles, CA, Suite 740 $ 218,875 Los Angeles, CA, Suite 745 277,592 Westport, CT., 54 Wilton Rd 506,276 Subtotal 1,002,743 Less accumulated depreciation (188,753 ) Right to use assets, net $ 813,990 During the three and six months ended June 30, 2019, the Company recorded $104,278 and $164,405 as lease expense to current period operations. Lease liability is summarized below: June 30, 2019 Los Angeles, CA, Suite 740 $ 153,397 Los Angeles, CA, Suite 745 194,381 Westport, CT., 54 Wilton Rd 472,976 Total lease liability 820,754 Less: short term portion (352,482 ) Long term portion $ 468,272 Maturity analysis under these lease agreements are as follows: Six months ended December 31, 2019 $ 202,116 Year ended December 31, 2020 411,358 Year ended December 31, 2021 284,756 Total 898,230 Less: Present value discount (77,476 ) Lease liability $ 820,754 Lease expense for the three months ended June 30, 2019 was comprised of the following: Operating lease expense $ 83,584 Short-term lease expense 19,520 Variable lease expense 1,174 $ 104,278 Lease expense for the six months ended June 30, 2019 was comprised of the following: Operating lease expense $ 130,035 Short-term lease expense 32,758 Variable lease expense 1,612 $ 164,405 |
NOTE 6 - ACCOUNTS PAYABLE AND A
NOTE 6 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES | 6 Months Ended |
Jun. 30, 2019 | |
Payables and Accruals [Abstract] | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 6 – ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses at June 30, 2019 and December 31, 2018 consist of the following: June 30, 2019 December 31, 2018 Accrued accounting and legal $ 162,604 $ 59,439 Accrued reimbursements and travel 13,639 27,853 Accrued consulting 76,567 89,718 Accrued research and development expenses 462,346 351,631 Accrued office and other 34,154 14,304 Accrued payroll and related expenses 180,226 395,000 Deferred rent - 3,377 Accrued settlement related to arbitration 13,333 13,333 $ 942,869 $ 954,655 |
NOTE 7 - SERIES C 9% CONVERTIBL
NOTE 7 - SERIES C 9% CONVERTIBLE PREFERRED STOCK | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Preferred Stock [Text Block] | NOTE 7 – SERIES C 9% CONVERTIBLE PREFERRED STOCK Series C 9% Convertible Preferred Stock On January 9, 2013, the Board of Directors authorized the issuance of up to 4,200 shares of 9% Series C Convertible Preferred Stock (the “Series C Preferred Stock”). The Series C Preferred Stock is entitled to preference over holders of junior stock upon liquidation in the amount of $1,000 plus any accrued and unpaid dividends; entitled to dividends as a preference to holders of junior stock at a rate of 9% per annum of the stated value of $1,000 per share, payable quarterly beginning on September 30, 2013 and are cumulative. The holders of the Series C Preferred Stock vote together with the holders of our common stock on an as-converted basis, but may not vote the Series C Preferred Stock in excess of the beneficial ownership limitation of the Series C Preferred Stock. The beneficial ownership limitation is 4.99% of our then outstanding shares of common stock following such conversion or exercise, which may be increased to up to 9.99% of our then outstanding shares of common stock following such conversion or exercise upon the request of an individual holder. The beneficial ownership limitation is determined on an individual holder basis, such that the as-converted number of shares of one holder is not included in the shares outstanding when calculating the limitation for a different holder. In connection with the sale of the Series C preferred stock, the Company issued an aggregate of 532,251 warrants to purchase the Company’s common stock at $6.53 per share expiring five years from the initial exercise date. The warrants contain full ratchet anti-dilution price protection upon the issuance of equity or equity-linked securities at an effective common stock purchase price of less than $6.53 per share as well as other customary anti-dilution protection. The warrants are exercisable for cash; or if at any time after six months from the issuance date, there is no effective registration statement registering the resale, or no current prospectus available for the resale, of the shares of common stock underlying the warrants, the warrants may be exercised by means of a “cashless exercise”. As a result of an amendment to the conversion price of our Series C Preferred Stock, the full-ratchet anti-dilution protection provision of the warrants decreased the exercise price of the warrants from $6.53 per share to $3.75 per share and increased the aggregate number of shares issuable under the warrants to 926,121. In April 2019, the Company issued 3,507 shares of its common stock in exchange for 10 shares of the Company’s Series C Preferred Stock and accrued dividends. In May 2019, the Company issued 17,138 shares of its common stock in exchange for 50 shares of the Company’s Series C Preferred Stock and accrued dividends. In June 2019, the Company issued 70,069 shares of its common stock in exchange for 200 shares of the Company’s Series C Preferred Stock and accrued dividends. Series C Preferred Stock issued and outstanding totaled 215 and 475 as of June 30, 2019 and December 31, 2018, respectively. As of June 30, 2019 and December 31, 2018, the Company has accrued $118,724 and $242,908 dividends payable on the Series C Preferred Stock. |
NOTE 8 - STOCKHOLDER EQUITY
NOTE 8 - STOCKHOLDER EQUITY | 6 Months Ended |
Jun. 30, 2019 | |
Stockholders' Equity Note [Abstract] | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8 – STOCKHOLDER EQUITY Preferred stock The Company is authorized to issue 1,000,000 shares of $0.001 par value preferred stock. As of June 30, 2019 and December 31, 2018, the Company has authorized 200 shares of Series A preferred stock, 600 shares of Series B preferred stock, 4,200 shares of Series C Preferred Stock, 1,400 shares of Series D Preferred Stock and 1,000 shares of Series E Preferred Stock. As of June 30, 2019 and December 31, 2018, there were no outstanding shares of Series A, Series B, Series D and Series E preferred stock. Common stock On September 10, 2018, the Company amended its Articles of Incorporation to implement a reverse stock split in the ratio of 1 share for every 2.5 shares of common stock. No fractional shares were issued from such aggregation of common stock, upon the reverse split; any fractional share was rounded up and converted to the nearest whole share of common stock. As a result, 40,333,758 of the Company’s common stock were exchanged for 16,133,544 of the Company's common stock resulting in the transfer of $24,200 from common stock to additional paid in capital. These unaudited condensed consolidated financial statements have been retroactively restated to reflect the reverse stock split. The Company is authorized to issue 200,000,000 shares of $0.001 par value common stock. As of June 30, 2019 and December 31, 2018, the Company had 21,151,134 and 16,868,783 shares issued and outstanding, respectively. During the six months ended June 30, 2019, the Company issued an aggregate of 560,000 shares of its common stock for services totaling $2,333,200 ($4.17 per share). During the six months ended June 30, 2019, the Company issued an aggregate of 53,332 shares of its common stock for vested restricted stock units as stock based compensation. During the six months ended June 30, 2019, the Company entered into securities purchase agreements with investors pursuant to which the Company issued 2,155,127 shares of common stock for aggregate proceeds of $8,619,278, net of $1,230 in expenses During the six months ended June 30, 2019, the Company issued 1,130,029 shares of common stock in exchange for proceeds of $4,618,487 from the exercise of warrants. During the six months ended June 30, 2019, the Company issued 160,962 shares of common stock in exchange for the exercise of 303,255 cashless exercises of warrants. During the six months ended June 30, 2019, the Company issued 93,500 shares of common stock in exchange for proceeds of $444,838 from the exercise of options. During the six months ended June 30, 2019, the Company issued 38,687 shares of common stock in exchange for the exercise of 130,423 cashless exercises of options. At June 30, 2019, the Company accrued an aggregate of $2,273,600 as stock based compensation for 260,000 shares of common stock due for stock based compensation. |
NOTE 9 - OPTIONS, RESTRICTED ST
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Shareholders' Equity and Share-based Payments [Text Block] | NOTE 9 – OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS Options On October 19, 2012, the Company’s Board of Directors approved the 2012 Equity Incentive Plan (“the “Plan) and terminated the Long-Term Incentive Plan (the “2011 Plan”). The Plan provides for the issuance of options to purchase up to 15,186,123 (as amended) shares of the Company’s common stock to officers, directors, employees and consultants of the Company (as amended). Under the terms of the Plan the Company may issue Incentive Stock Options as defined by the Internal Revenue Code to employees of the Company only and nonstatutory options. The Board of Directors of the Company or a committee thereof administers the Plan and determines the exercise price, vesting and expiration period of the grants under the Plan. However, the exercise price of an Incentive Stock Option should not be less than 110% of fair value of the common stock at the date of the grant for a 10% or more stockholder and 100% of fair value for a grantee who is not 10% stockholder. The fair value of the common stock is determined based on the quoted market price or in absence of such quoted market price, by the administrator in good faith. Additionally, the vesting period of the grants under the Plan will be determined by the administrator, in its sole discretion, with an expiration period of not more than ten years. The Company reserved 910,346 shares of its common stock for future issuance under the terms of the Plan. During the six months ended June 30, 2019, the Company granted an aggregate of 805,000 options to officers, directors and key consultants. The following table presents information related to stock options at June 30, 2019: Options Outstanding Options Exercisable Weighted Average Exercisable Exercise Number of Remaining Life Number of Price Options In Years Options $ 2.51-5.00 1,538,361 8.2 1,076,699 5.01-7.500 1,904,544 3.3 1,670,812 7.51-10.00 120,000 5.8 120,000 3,562,905 5.5 2,867,511 A summary of the stock option activity and related information for the 2012 Plan for the six months ended June 30, 2019 is as follows: Weighted-Average Weighted-Average Remaining Aggregate Shares Exercise Price Contractual Term Intrinsic Value Outstanding at December 31, 2018 3,135,828 $ 5.34 5.2 $ 311,545 Grants 805,000 4.90 10.0 $ - Exercised (223,923 ) $ 4.91 2.38 Forfeited/expired (154,000 ) $ 5.65 Outstanding at June 30, 2019 3,562,905 $ 5.25 5.49 $ 14,810,188 Exercisable at June 30, 2019 3,562,905 $ 5.38 4.52 $ 11,555,767 The aggregate intrinsic value in the preceding tables represents the total pretax intrinsic value, based on options with an exercise price less than the Company’s stock price of $9.39 as of June 30, 2019, which would have been received by the option holders had those option holders exercised their options as of that date. Option valuation models require the input of highly subjective assumptions. The fair value of stock-based payment awards was estimated using the Black-Scholes option model with a volatility figure derived from an index of historical stock prices of comparable entities until sufficient data exists to estimate the volatility using the Company’s own historical stock prices. Management determined this assumption to be a more accurate indicator of value. The Company accounts for the expected life of options based on the contractual life of options for non-employees. For employees, the Company accounts for the expected life of options in accordance with the “simplified” method, which is used for “plain-vanilla” options, as defined in the accounting standards codification. The risk-free interest rate was determined from the implied yields of U.S. Treasury zero-coupon bonds with a remaining life consistent with the expected term of the options. The fair value of stock-based payment awards during the six months ended June 30, 2019 was estimated using the Black-Scholes pricing model. On January 22, 2019, the Company granted an aggregate of 460,000 options to purchase the Company stock in connection with the services rendered at the exercise price of $4.33 per share for a term of ten years with vesting quarterly beginning April 1, 2019 over 3 years On March 14, 2019, the Company granted an aggregate of 345,000 options to purchase the Company stock in connection with the services rendered at the exercise price of $5.66 per share for a term of ten years with 150,000 options vesting at anniversary date beginning March 14, 2020 over 3 years, 175,000 options vesting quarterly beginning June 14, 2019 over 3 years and 20,000 options vesting at one year anniversary. The following assumptions were used in determining the fair value of options during the six months ended June 30, 2019: Risk-free interest rate 2.53% - 2.74 % Dividend yield 0 % Stock price volatility 90.73% to 91.55 % Expected life 6 – 10 years Weighted average grant date fair value $ 4.244 On May 17, 2019, in connection with the retirement of two members of the Company’s board of directors, the Company extended the life of 628,905 previously issued director options from the contractual 90 days from termination of service to the earlier of the initial life up or May 17, 2021. The change in estimated fair value of the modified options of $666,062 was charged to current period operations The following assumptions were used in determining the change in fair value of the modified options at May 17, 2019: Risk-free interest rate 2.33% - 2.40 % Dividend yield 0 % Stock price volatility 89.97% % Expected life 0.12– 2 years The fair value of all options vesting during the three and six months ended June 30, 2019 of $306,210 and $499,444, and $1,167,313 and $1,414,021 for the three and six months ended June 30, 2018, respectively, was charged to current period operations. Unrecognized compensation expense of $2,508,085 and $173,446 at June 30, 2019 and December 31, 2018, respectively, will be expensed in future periods. Restricted Stock The following table summarizes the restricted stock activity for the six months ended June 30, 2019: Total restricted shares issued as of December 31, 2018 - Granted 190,000 Vested and issued (53,332 ) Vested restricted shares as of June 30, 2019 - Unvested restricted shares as of June 30, 2019 136,668 On February 28, 2019, the Company granted an aggregate of 70,000 restricted stock grants for services with 23,332 vested immediately; 23,334 vesting at one year anniversary and 23,334 vesting at two year anniversary. On March 20, 2019, the Company granted an aggregate of 120,000 restricted stock grants for services vesting quarterly beginning on April 1, 2019 over one year. Stock based compensation expense related to restricted stock grants was $477,239 and $620,820 for the three and six months ended June 30, 2019, and $0 for the three and six months ended June 30, 2019, respectively. As of June 30, 2019, the stock-based compensation relating to restricted stock of $586,478 remains unamortized. Warrants The following table summarizes information with respect to outstanding warrants to purchase common stock of the Company at June 30, 2019: Exercise Number Expiration Price Outstanding Date $ 0.0025 153,328 January 2020 $ 3.75 1,355,200 October 2019 to August 2021 $ 4.375 618,272 April 2021 to May 2021 $ 4.60 9,385 January 2020 $ 4.875 67,006 August 2019 to September 2019 $ 5.05 9,556 January 2020 $ 6.85 209,377 July 2021 to August 2021 $ 6.875 89,240 August 2019 to September 2019 $ 9.375 481,108 March 2020 2,992,472 A summary of the warrant activity for the six months ended June 30, 2019 is as follows: Weighted-Average Weighted-Average Remaining Aggregate Shares Exercise Price Contractual Term Intrinsic Value Outstanding at December 31, 2018 4,579,511 $ 4.73 1.5 $ 1,924,388 Grants - Exercised (1,433,285 ) $ 4.02 Expired (153,754 ) $ 7.43 - - Outstanding at June 30, 2019 2,992,472 $ 4.93 1.1 $ 13,335,761 Vested and expected to vest at June 30, 2019 2,992,472 $ 4.93 1.1 $ 13,335,761 Exercisable at June 30, 2019 2,992,472 $ 4.93 1.1 $ 13,335,761 The aggregate intrinsic value in the preceding tables represents the total pretax intrinsic value, based on options with an exercise price less than the Company’s stock price of $9.39 of June 30, 2019, which would have been received by the option holders had those option holders exercised their options as of that date. |
NOTE 10 - RELATED PARTY TRANSAC
NOTE 10 - RELATED PARTY TRANSACTIONS | 6 Months Ended |
Jun. 30, 2019 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 10 – RELATED PARTY TRANSACTIONS The Company’s President and shareholders have advanced funds to the Company for working capital purposes since the Company’s inception in February 2009. No formal repayment terms or arrangements exist and the Company is not accruing interest on these advances. The net amount of outstanding advances at June 30, 2019 and December 31, 2018 was $-0-. At June 30, 2019 and December 31, 2018, the Company had reimbursable travel and other related expenses due related parties of $14,546 and $32,366, respectively. On November 1, 2017, in connection with Mr. Filler joining the Company’s Board of Directors, the Company entered into a Master Services Agreement (the “Agreement”) with 3LP Advisors LLC (d/b/a Sherpa Technology Group) (“Sherpa”) and an initial statement of work (the “SOW”), pursuant to which Sherpa will develop, execute and expand the Company’s intellectual property strategy over the course of the next approximately 18 months by evaluating the business and technology landscape in which the Company operates, and charting and executing a strategy of patent filing and licensing. In connection with the SOW, the Company will pay Sherpa fee of (i) $200,000 in cash, of which $25,000 will be paid on January 1, 2018, with the remainder to be paid upon completion of certain objectives, and (ii) a ten-year option to purchase up to 120,000 of the Company’s common stock at an exercise of $3.75 per share of common stock, of which 60,000 options vest immediately and 60,000 options were performance conditioned and subsequently vested. Mr. Filler is the general counsel and partner of Sherpa. During the three and six months ended June 30, 2019, the Company paid $75,000 and $150,000 as patent costs, consulting fees and expense reimbursements. During the three months and six months ended June 30, 2018, the Company paid $102,219 and $277,219 as patent costs, consulting fees and expense reimbursements. As of June 30, 2019 and December 31, 2018, there was an unpaid balance of $0. |
NOTE 11 - FAIR VALUE MEASUREMEN
NOTE 11 - FAIR VALUE MEASUREMENT | 6 Months Ended |
Jun. 30, 2019 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | NOTE 11 – FAIR VALUE MEASUREMENT The Company adopted the provisions of Accounting Standards Codification subtopic 825-10, Financial Instruments (“ASC 825-10”). ASC 825-10 defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability, such as inherent risk, transfer restrictions, and risk of nonperformance. ASC 825-10 establishes a fair value hierarchy that requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. ASC 825-10 establishes three levels of inputs that may be used to measure fair value: Level 1 – Quoted prices in active markets for identical assets or liabilities. Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated by observable market data for substantially the full term of the assets or liabilities. Level 3 – Unobservable inputs to the valuation methodology that are significant to the measurement of fair value of assets or liabilities. All items required to be recorded or measured on a recurring basis are based upon level 3 inputs. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement is disclosed and is determined based on the lowest level input that is significant to the fair value measurement. The carrying value of the Company’s cash and cash equivalents, accounts payable and other current assets and liabilities approximate fair value because of their short-term maturity. As of June 30, 2019 and December 31, 2018, the Company did not have any items that would be classified as level 1 or 2 disclosures. As of June 30, 2019 and December 31, 2018, the Company did not have any derivative instruments that were designated as hedges. There were no derivative and warrant liability as of June 30, 2019 and December 31, 2018. |
NOTE 12 - SUBSEQUENT EVENTS
NOTE 12 - SUBSEQUENT EVENTS | 6 Months Ended |
Jun. 30, 2019 | |
Subsequent Events [Abstract] | |
Subsequent Events [Text Block] | NOTE 12 – SUBSEQUENT EVENTS In July 2019, the Company issued an aggregate of 295,080 shares of its common stock in exchange for proceeds of $1,138,425 from the exercise of warrants. In July 2019, the Company issued 997 shares of its common stock in exchange for the cashless exercise of 2,000 warrants. In July 2019, the Company issued an aggregate of 276,667 shares of its common stock for services, of which 260,000 shares were accrued as stock based compensation at June 30, 2019. In July 2019, the Company issued 30,000 shares of common stock for vested restricted stock units. In July 2019, the Company granted an aggregate of 158,333 options to purchase shares of the Company’s common stock to employees. The options are exercisable at $9.056 for ten years and vest quarterly over three years. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, 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. Significant estimates include the recoverability and useful lives of long-lived assets, the fair value of the Company’s stock, stock-based compensation and the valuation allowance related to deferred tax assets. Actual results may differ from these estimates. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments Accounting Standards Codification subtopic 825-10, Financial Instruments (“ASC 825-10”) requires disclosure of the fair value of certain financial instruments. The carrying value of cash and cash equivalents, accounts payable and accrued liabilities as reflected in the balance sheets, approximate fair value because of the short-term maturity of these instruments. All other significant financial assets, financial liabilities and equity instruments of the Company are either recognized or disclosed in the financial statements together with other information relevant for making a reasonable assessment of future cash flows, interest rate risk and credit risk. Where practicable the fair values of financial assets and financial liabilities have been determined and disclosed; otherwise only available information pertinent to fair value has been disclosed. The Company follows Accounting Standards Codification subtopic 820-10, Fair Value Measurements and Disclosures (“ASC 820-10”) and Accounting Standards Codification subtopic 825-10, Financial Instruments (“ASC 825-10”), which permits entities to choose to measure many financial instruments and certain other items at fair value. |
Derivatives, Policy [Policy Text Block] | Derivative Instrument Liability The Company accounts for derivative instruments in accordance with ASC 815, which establishes accounting and reporting standards for derivative instruments and hedging activities, including certain derivative instruments embedded in other financial instruments or contracts and requires recognition of all derivatives on the balance sheet at fair value, regardless of hedging relationship designation. Accounting for changes in fair value of the derivative instruments depends on whether the derivatives qualify as hedge relationships and the types of relationships designated are based on the exposures hedged. At June 30, 2019 and December 31, 2018, the Company did not have any derivative instruments that were designated as hedges. At June 30, 2019 and December 31, 2018, the Company had outstanding preferred stock and warrants that contained embedded derivatives. These embedded derivatives include certain conversion features and reset provisions. On January 1, 2018, the Company adopted ASU 2017-11 and according reclassified the fair value of the reset provisions embedded in previously issued Preferred stock and certain warrants with embedded anti-dilutive provisions from liability to equity. |
Research and Development Expense, Policy [Policy Text Block] | Research and development costs The Company accounts for research and development costs in accordance with the Accounting Standards Codification subtopic 730-10, Research and Development (“ASC 730-10”). Under ASC 730-10, all research and development costs must be charged to expense as incurred. Accordingly, internal research and development costs are expensed as incurred. Third-party research and developments costs are expensed when the contracted work has been performed or as milestone results have been achieved. Company-sponsored research and development costs related to both present and future products are expensed in the period incurred. The Company incurred research and development expenses of $1,817,959 and $3,306,798 for the three and six months ended June 30, 2019; and $1,449,508 and $2,311,928 for the three and six months ended June 30, 2018, respectively. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk Financial instruments and related items, which potentially subject the Company to concentrations of credit risk, consist primarily of cash and cash equivalents. The Company places its cash and temporary cash investments with credit quality institutions. At times, such amounts may be in excess of the FDIC insurance limit. At June 30, 2019 and December 31, 2018, deposits in excess of FDIC limits were $10,083,966 and $4,200,160, respectively. |
Earnings Per Share, Policy [Policy Text Block] | Net Income (loss) Per Common Share The Company computes earnings (loss) per share under Accounting Standards Codification subtopic 260-10, Earnings Per Share (“ASC 260-10”). Net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the year. Diluted earnings per share, if presented, would include the dilution that would occur upon the exercise or conversion of all potentially dilutive securities into common stock using the “treasury stock” and/or “if converted” methods as applicable. The computation of basic and diluted loss per share as of June 30, 2019 and 2018 excludes potentially dilutive securities when their inclusion would be anti-dilutive, or if their exercise prices were greater than the average market price of the common stock during the period. Potentially dilutive securities excluded from the computation of basic and diluted net income (loss) per share are as follows: June 30, 2019 June 30, 2018 Series C convertible preferred stock 57,334 153,334 Series E convertible preferred stock - 400,000 Options to purchase common stock 3,562,905 3,498,128 Warrants to purchase common stock 2,992,472 5,418,609 Totals 6,612,711 9,470,071 |
Share-based Payment Arrangement [Policy Text Block] | Stock Based Compensation The Company measures the cost of services received in exchange for an award of equity instruments based on the fair value of the award. For employees and directors, the fair value of the award is measured on the grant date and for non-employees, the fair value of the award is generally re-measured on vesting dates and interim financial reporting dates until the service period is complete. The fair value amount is then recognized over the period during which services are required to be provided in exchange for the award, usually the vesting period. As of June 30, 2019, the Company had 3,562,905 options outstanding to purchase shares of common stock, of which 2,867,511 were vested. As of December 31, 2018, there were outstanding stock options to purchase 3,135,828 shares of common stock, 3,007,946 shares of which were vested. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company follows Accounting Standards Codification subtopic 740-10, Income Taxes (“ASC 740-10”) for recording the provision for income taxes. Deferred tax assets and liabilities are computed based upon the difference between the financial statement and income tax basis of assets and liabilities using the enacted marginal tax rate applicable when the related asset or liability is expected to be realized or settled. Deferred income tax expenses or benefits are based on the changes in the asset or liability during each period. If available evidence suggests that it is more likely than not that some portion or all of the deferred tax assets will not be realized, a valuation allowance is required to reduce the deferred tax assets to the amount that is more likely than not to be realized. Future changes in such valuation allowance are included in the provision for deferred income taxes in the period of change. Deferred income taxes may arise from temporary differences resulting from income and expense items reported for financial accounting and tax purposes in different periods |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Patents, net The Company capitalizes certain initial asset costs in connection with patent applications including registration, documentation and other professional fees associated with the application. Patent costs incurred prior to the Company’s U.S. Food and Drug Administration (“FDA”) 510 (k) application on March 28, 2018 were charged to research and development expense as incurred. Commencing upon first in-man trials on February 18 and 19, 2019, capitalized costs are amortized to expense using the straight-line method over the lesser of the legal patent term or the estimated life of the product of 20 years. During the three and six months ended June 30, 2019, the Company recorded amortization of $4,710 and $6,073 to current period operations, respectively. |
Registration Rights Policy [Policy Text Block] | Registration Rights On March 12, 2019, in connection with the Company’s Private Placement of common stock, the Company also agreed on or prior the date that is 45 calendar days after the closing date of the Private Placement, the Company will be required to use commercially reasonable efforts to prepare and file a registration statement on Form S-3 or Form S-1 with the Securities and Exchange Commission (the “ SEC |
New Accounting Pronouncements, Policy [Policy Text Block] | Adoption of Accounting Standards In February 2016, the FASB established ASC Topic 842, Leases (Topic 842), by issuing ASU No. 2016-02, which requires lessees to recognize leases on-balance sheet and disclose key information about leasing arrangements. Topic 842 was subsequently amended by ASU No. 2018-01, Land Easement Practical Expedient for Transition to Topic 842; ASU No. 2018-10, Codification Improvements to Topic 842, Leases; and ASU No. 2018-11, Targeted Improvements. The new standard establishes a right-of-use (ROU) model that requires a lessee to recognize a ROU asset and lease liability on the balance sheet. Leases will be classified as finance or operating, with classification affecting the pattern and classification of expense recognition in the statement of operations. The Company adopted the new standard on January 1, 2019. The new standard provides a number of optional practical expedients in transition. The Company has elected the ‘package of practical expedients’, which permit it not to reassess under the new standard its prior conclusions about lease identification, lease classification and initial direct costs. The Company did not elect the use-of-hindsight or the practical expedient pertaining to land easements; the latter is not applicable to the Company. The new standard had a material effect on the Company’s financial statements. The most significant effects of adoption relate to (1) the recognition of new ROU assets and lease liabilities on its balance sheet for real estate operating leases; and (2) providing significant new disclosures about its leasing activities. Upon adoption, the Company recognized additional operating lease liabilities, net of deferred rent, of approximately $422,000 based on the present value of the remaining minimum rental payments under current leasing standards for existing operating leases. The Company also recognized corresponding ROU assets of approximately $419,000. The new standard also provides practical expedients for an entity’s ongoing accounting. The Company elected the short-term lease recognition exemption for all leases that qualify. This means, for those leases that qualify, the Company will not recognize ROU assets or lease liabilities, and this includes not recognizing ROU assets or lease liabilities for existing short-term leases of those assets in transition. Beginning in 2019, the Company changed to its disclosed lease recognition policies and practices, as well as to other related financial statement disclosures due to the adoption of this standard. See Note 5. Recent Accounting Pronouncements There were various updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to a have a material impact on the Company’s financial position, results of operations or cash flows. |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events The Company evaluates events that have occurred after the balance sheet date but before the consolidated financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the unaudited condensed consolidated financial statements, except as disclosed. |
NOTE 3 - SUMMARY OF SIGNIFICA_2
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Potentially dilutive securities excluded from the computation of basic and diluted net income (loss) per share are as follows: June 30, 2019 June 30, 2018 Series C convertible preferred stock 57,334 153,334 Series E convertible preferred stock - 400,000 Options to purchase common stock 3,562,905 3,498,128 Warrants to purchase common stock 2,992,472 5,418,609 Totals 6,612,711 9,470,071 |
NOTE 4 - PROPERTY AND EQUIPME_2
NOTE 4 - PROPERTY AND EQUIPMENT (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | Property and equipment as of June 30, 2019 and December 31, 2018 is summarized as follows: June 30, 2019 December 31, 2018 Computer equipment $ 108,619 $ 105,447 Furniture and fixtures 50,364 32,619 Subtotal 158,983 138,066 Less accumulated depreciation (81,237 ) (93,720 ) Property and equipment, net $ 77,746 $ 44,346 |
NOTE 5 - RIGHT TO USE ASSETS _2
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Text Block [Abstract] | |
Right to Use Asset [Table Text Block] | Right to use assets is summarized below: June 30, 2019 Los Angeles, CA, Suite 740 $ 218,875 Los Angeles, CA, Suite 745 277,592 Westport, CT., 54 Wilton Rd 506,276 Subtotal 1,002,743 Less accumulated depreciation (188,753 ) Right to use assets, net $ 813,990 |
Lessee, Operating Lease, Disclosure [Table Text Block] | Lease liability is summarized below: June 30, 2019 Los Angeles, CA, Suite 740 $ 153,397 Los Angeles, CA, Suite 745 194,381 Westport, CT., 54 Wilton Rd 472,976 Total lease liability 820,754 Less: short term portion (352,482 ) Long term portion $ 468,272 |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Maturity analysis under these lease agreements are as follows: Six months ended December 31, 2019 $ 202,116 Year ended December 31, 2020 411,358 Year ended December 31, 2021 284,756 Total 898,230 Less: Present value discount (77,476 ) Lease liability $ 820,754 |
Lease, Cost [Table Text Block] | Lease expense for the three and six months ended June 30, 2019 was comprised of the following: Operating lease expense $ 83,584 Short-term lease expense 19,520 Variable lease expense 1,174 $ 104,278 Operating lease expense $ 130,035 Short-term lease expense 32,758 Variable lease expense 1,612 $ 164,405 |
NOTE 6 - ACCOUNTS PAYABLE AND_2
NOTE 6 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Payables and Accruals [Abstract] | |
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block] | Accounts payable and accrued expenses at June 30, 2019 and December 31, 2018 consist of the following: June 30, 2019 December 31, 2018 Accrued accounting and legal $ 162,604 $ 59,439 Accrued reimbursements and travel 13,639 27,853 Accrued consulting 76,567 89,718 Accrued research and development expenses 462,346 351,631 Accrued office and other 34,154 14,304 Accrued payroll and related expenses 180,226 395,000 Deferred rent - 3,377 Accrued settlement related to arbitration 13,333 13,333 $ 942,869 $ 954,655 |
NOTE 9 - OPTIONS, RESTRICTED _2
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Disclosure Text Block Supplement [Abstract] | |
Share-based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | The following table presents information related to stock options at June 30, 2019: Options Outstanding Options Exercisable Weighted Average Exercisable Exercise Number of Remaining Life Number of Price Options In Years Options $ 2.51-5.00 1,538,361 8.2 1,076,699 5.01-7.500 1,904,544 3.3 1,670,812 7.51-10.00 120,000 5.8 120,000 3,562,905 5.5 2,867,511 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | A summary of the stock option activity and related information for the 2012 Plan for the six months ended June 30, 2019 is as follows: Weighted-Average Weighted-Average Remaining Aggregate Shares Exercise Price Contractual Term Intrinsic Value Outstanding at December 31, 2018 3,135,828 $ 5.34 5.2 $ 311,545 Grants 805,000 4.90 10.0 $ - Exercised (223,923 ) $ 4.91 2.38 Forfeited/expired (154,000 ) $ 5.65 Outstanding at June 30, 2019 3,562,905 $ 5.25 5.49 $ 14,810,188 Exercisable at June 30, 2019 3,562,905 $ 5.38 4.52 $ 11,555,767 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | The following assumptions were used in determining the fair value of options during the six months ended June 30, 2019, and the change in fair value of the modified options at May 17, 2019: Risk-free interest rate 2.53% - 2.74 % Dividend yield 0 % Stock price volatility 90.73% to 91.55 % Expected life 6 – 10 years Weighted average grant date fair value $ 4.244 Risk-free interest rate 2.33% - 2.40 % Dividend yield 0 % Stock price volatility 89.97% % Expected life 0.12– 2 years |
Nonvested Restricted Stock Shares Activity [Table Text Block] | The following table summarizes the restricted stock activity for the six months ended June 30, 2019: Total restricted shares issued as of December 31, 2018 - Granted 190,000 Vested and issued (53,332 ) Vested restricted shares as of June 30, 2019 - Unvested restricted shares as of June 30, 2019 136,668 |
Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Table Text Block] | The following table summarizes information with respect to outstanding warrants to purchase common stock of the Company at June 30, 2019: Exercise Number Expiration Price Outstanding Date $ 0.0025 153,328 January 2020 $ 3.75 1,355,200 October 2019 to August 2021 $ 4.375 618,272 April 2021 to May 2021 $ 4.60 9,385 January 2020 $ 4.875 67,006 August 2019 to September 2019 $ 5.05 9,556 January 2020 $ 6.85 209,377 July 2021 to August 2021 $ 6.875 89,240 August 2019 to September 2019 $ 9.375 481,108 March 2020 2,992,472 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | A summary of the warrant activity for the six months ended June 30, 2019 is as follows: Weighted-Average Weighted-Average Remaining Aggregate Shares Exercise Price Contractual Term Intrinsic Value Outstanding at December 31, 2018 4,579,511 $ 4.73 1.5 $ 1,924,388 Grants - Exercised (1,433,285 ) $ 4.02 Expired (153,754 ) $ 7.43 - - Outstanding at June 30, 2019 2,992,472 $ 4.93 1.1 $ 13,335,761 Vested and expected to vest at June 30, 2019 2,992,472 $ 4.93 1.1 $ 13,335,761 Exercisable at June 30, 2019 2,992,472 $ 4.93 1.1 $ 13,335,761 |
NOTE 1 - NATURE OF OPERATIONS_2
NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION (Details) - shares | Sep. 10, 2018 | Jun. 30, 2019 | Dec. 31, 2018 | Sep. 09, 2018 |
Disclosure Text Block [Abstract] | ||||
Stockholders' Equity, Reverse Stock Split | 1 share for every 2.5 shares of common stock | |||
Common Stock, Shares, Outstanding | 16,133,544 | 21,151,134 | 16,868,783 | 40,333,758 |
NOTE 2 - GOING CONCERN AND MA_2
NOTE 2 - GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS (Details) - USD ($) | 1 Months Ended | 6 Months Ended | |||
Jul. 31, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
NOTE 2 - GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS (Details) [Line Items] | |||||
Cash and Cash Equivalents, at Carrying Value | $ 10,333,966 | $ 3,673,137 | $ 4,450,160 | $ 1,547,579 | |
Working Capital (Deficit) | 9,226,334 | ||||
Proceeds from Issuance of Common Stock | 8,619,278 | 5,268,445 | |||
Proceeds from Warrant Exercises | 4,618,000 | ||||
Proceeds from Stock Options and Warrants Exercised | 445,000 | ||||
Net Cash Provided by (Used in) Operating Activities | $ (7,641,965) | $ (4,797,308) | |||
Subsequent Event [Member] | |||||
NOTE 2 - GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS (Details) [Line Items] | |||||
Proceeds from Warrant Exercises | $ 1,100,000 |
NOTE 3 - SUMMARY OF SIGNIFICA_3
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Jan. 01, 2019 | Dec. 31, 2018 | |
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||||
Research and Development Expense | $ 1,817,959 | $ 1,449,508 | $ 3,306,798 | $ 2,311,928 | ||
Cash, Uninsured Amount | $ 10,083,966 | $ 10,083,966 | $ 4,200,160 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number (in Shares) | 3,562,905 | 3,562,905 | 3,135,828 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number (in Shares) | 2,867,511 | 2,867,511 | 3,007,946 | |||
Amortization of Intangible Assets | $ 4,710 | $ 6,073 | ||||
Operating Lease, Liability, Current | 352,482 | 352,482 | ||||
Operating Lease, Right-of-Use Asset | 813,990 | $ 813,990 | $ 418,838 | $ 0 | ||
Patents [Member] | ||||||
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||||
Finite-Lived Intangible Asset, Useful Life | 20 years | |||||
Accounting Standards Update 2016-02 [Member] | ||||||
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) [Line Items] | ||||||
Operating Lease, Liability, Current | 422,000 | $ 422,000 | ||||
Operating Lease, Right-of-Use Asset | $ 419,000 | $ 419,000 |
NOTE 3 - SUMMARY OF SIGNIFICA_4
NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share - shares | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities | 6,612,711 | 9,470,071 |
Series C Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities | 57,334 | 153,334 |
Series E Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities | 0 | 400,000 |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities | 3,562,905 | 3,498,128 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
Antidilutive Securities | 2,992,472 | 5,418,609 |
NOTE 4 - PROPERTY AND EQUIPME_3
NOTE 4 - PROPERTY AND EQUIPMENT (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
NOTE 4 - PROPERTY AND EQUIPMENT (Details) [Line Items] | ||||
Depreciation | $ 6,632 | $ 2,926 | $ 11,841 | $ 5,829 |
Minimum [Member] | ||||
NOTE 4 - PROPERTY AND EQUIPMENT (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 3 years | |||
Maximum [Member] | ||||
NOTE 4 - PROPERTY AND EQUIPMENT (Details) [Line Items] | ||||
Property, Plant and Equipment, Useful Life | 5 years |
NOTE 4 - PROPERTY AND EQUIPME_4
NOTE 4 - PROPERTY AND EQUIPMENT (Details) - Schedule of Property, Plant and Equipment - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 158,983 | $ 138,066 |
Less accumulated depreciation | (81,237) | (93,720) |
Property and equipment, net | 77,746 | 44,346 |
Computer Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 108,619 | 105,447 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 50,364 | $ 32,619 |
NOTE 5 - RIGHT TO USE ASSETS _3
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) | Apr. 12, 2019USD ($)ft² | Jan. 01, 2019USD ($) | Oct. 01, 2018USD ($) | May 22, 2018USD ($) | Apr. 11, 2018USD ($) | Jun. 30, 2019USD ($) | Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) |
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) [Line Items] | ||||||||
Operating Lease, Right-of-Use Asset | $ 418,838 | $ 813,990 | $ 813,990 | $ 0 | ||||
Operating Lease, Liability | 422,215 | 820,754 | 820,754 | |||||
Deferred Rent, Elimination | $ 3,377 | |||||||
Operating Leases, Rent Expense | $ 104,278 | $ 164,405 | ||||||
Office Building [Member] | ||||||||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) [Line Items] | ||||||||
Area of Real Estate Property (in Square Feet) | ft² | 4,343 | |||||||
Lease Expiration Date | Oct. 31, 2021 | Sep. 30, 2019 | Jun. 30, 2021 | Jul. 31, 2019 | ||||
Operating Leases, Rent Expense, Minimum Rentals | $ 18,277 | $ 2,000 | $ 14,731 | $ 979 | ||||
Security Deposit | 68,764 | |||||||
Operating Lease, Right-of-Use Asset | 1,002,743 | |||||||
Office Building [Member] | Portion Of Security Deposit Representing Last Two Months Of Term [Member] | ||||||||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) [Line Items] | ||||||||
Security Deposit | $ 34,382 | |||||||
Parking Spaces [Member] | ||||||||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) [Line Items] | ||||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 1,070 | |||||||
Storage Space [Member] | ||||||||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) [Line Items] | ||||||||
Lease Expiration Date | Aug. 31, 2019 | |||||||
Operating Leases, Rent Expense, Minimum Rentals | $ 223 | |||||||
Lessor, Operating Lease, Option to Extend | The Company has an option to extend the lease for an additional 3 year (option) term. |
NOTE 5 - RIGHT TO USE ASSETS _4
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Right to Use Assets - USD ($) | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Right to Use Assets [Line Items] | |||
Right to use assets, gross | $ 1,002,743 | ||
Less accumulated depreciation | (188,753) | ||
Right to use assets, net | 813,990 | $ 418,838 | $ 0 |
Los Angeles, Suite 740 [Member] | Building [Member] | |||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Right to Use Assets [Line Items] | |||
Right to use assets, gross | 218,875 | ||
Los Angeles, Suite 745 [Member] | Building [Member] | |||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Right to Use Assets [Line Items] | |||
Right to use assets, gross | 277,592 | ||
Westport, CT., 54 Wilton Rd [Member] | Building [Member] | |||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Right to Use Assets [Line Items] | |||
Right to use assets, gross | $ 506,276 |
NOTE 5 - RIGHT TO USE ASSETS _5
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Lessee, Operating Lease, Disclosure - USD ($) | Jun. 30, 2019 | Jan. 01, 2019 | Dec. 31, 2018 |
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Lessee, Operating Lease, Disclosure [Line Items] | |||
Lease liability | $ 820,754 | $ 422,215 | |
Short term portion | (352,482) | ||
Long term portion | 468,272 | $ 0 | |
Los Angeles, Suite 740 [Member] | Building [Member] | |||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Lessee, Operating Lease, Disclosure [Line Items] | |||
Lease liability | 153,397 | ||
Los Angeles, Suite 745 [Member] | Building [Member] | |||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Lessee, Operating Lease, Disclosure [Line Items] | |||
Lease liability | 194,381 | ||
Westport, CT., 54 Wilton Rd [Member] | Building [Member] | |||
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Lessee, Operating Lease, Disclosure [Line Items] | |||
Lease liability | $ 472,976 |
NOTE 5 - RIGHT TO USE ASSETS _6
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Schedule of Future Minimum Rental Payments for Operating Leases - USD ($) | Jun. 30, 2019 | Jan. 01, 2019 |
Schedule of Future Minimum Rental Payments for Operating Leases [Abstract] | ||
Six months ended December 31, 2019 | $ 202,116 | |
Year ended December 31, 2020 | 411,358 | |
Year ended December 31, 2021 | 284,756 | |
Total | 898,230 | |
Less: Present value discount | (77,476) | |
Lease liability | $ 820,754 | $ 422,215 |
NOTE 5 - RIGHT TO USE ASSETS _7
NOTE 5 - RIGHT TO USE ASSETS AND LEASE LIABILITY (Details) - Lease Cost - USD ($) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | |
Lease, Cost [Abstract] | ||
Operating lease expense | $ 83,584 | $ 130,035 |
Short-term lease expense | 19,520 | 32,758 |
Variable lease expense | 1,174 | 1,612 |
Lease cost | $ 104,278 | $ 164,405 |
NOTE 6 - ACCOUNTS PAYABLE AND_3
NOTE 6 - ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - Schedule of Accounts Payable and Accrued Liabilities - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Schedule of Accounts Payable and Accrued Liabilities [Abstract] | ||
Accrued accounting and legal | $ 162,604 | $ 59,439 |
Accrued reimbursements and travel | 13,639 | 27,853 |
Accrued consulting | 76,567 | 89,718 |
Accrued research and development expenses | 462,346 | 351,631 |
Accrued office and other | 34,154 | 14,304 |
Accrued payroll and related expenses | 180,226 | 395,000 |
Deferred rent | 0 | 3,377 |
Accrued settlement related to arbitration | 13,333 | 13,333 |
$ 942,869 | $ 954,655 |
NOTE 7 - SERIES C 9% CONVERTI_2
NOTE 7 - SERIES C 9% CONVERTIBLE PREFERRED STOCK (Details) - USD ($) | Jan. 09, 2013 | Jun. 30, 2019 | May 31, 2019 | Apr. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 |
NOTE 7 - SERIES C 9% CONVERTIBLE PREFERRED STOCK (Details) [Line Items] | ||||||
Class of Warrant or Rights, Granted | 532,251 | 0 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 6.53 | |||||
Warrants, Term of Warrants | 5 years | |||||
Warrant, Description of Warrant | The warrants contain full ratchet anti-dilution price protection upon the issuance of equity or equity-linked securities at an effective common stock purchase price of less than $6.53 per share as well as other customary anti-dilution protection. The warrants are exercisable for cash; or if at any time after six months from the issuance date, there is no effective registration statement registering the resale, or no current prospectus available for the resale, of the shares of common stock underlying the warrants, the warrants may be exercised by means of a “cashless exercise”. | |||||
Class of Warrant or Right, Outstanding | 2,992,472 | 2,992,472 | 4,579,511 | |||
Series C Preferred Stock [Member] | ||||||
NOTE 7 - SERIES C 9% CONVERTIBLE PREFERRED STOCK (Details) [Line Items] | ||||||
Temporary Equity, Shares Authorized | 4,200 | |||||
Preferred Stock, Dividend Rate, Percentage | 9.00% | |||||
Temporary Equity, Par Value (in Dollars) | $ 1,000 | |||||
Preferred Stock, Dividend Payment Terms | payable quarterly | |||||
Preferred Stock, Voting Rights | The holders of the Series C Preferred Stock vote together with the holders of our common stock on an as-converted basis, but may not vote the Series C Preferred Stock in excess of the beneficial ownership limitation of the Series C Preferred Stock.  The beneficial ownership limitation is 4.99% of our then outstanding shares of common stock following such conversion or exercise, which may be increased to up to 9.99% of our then outstanding shares of common stock following such conversion or exercise upon the request of an individual holder. | |||||
Preferred Stock, Beneficial Ownership Limitation and Covenant, Description | The beneficial ownership limitation is determined on an individual holder basis, such that the as-converted number of shares of one holder is not included in the shares outstanding when calculating the limitation for a different holder. | |||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 70,069 | 17,138 | 3,507 | |||
Conversion of Stock, Shares Issued | 200 | 50 | 10 | |||
Temporary Equity, Shares Issued | 215 | 215 | 475 | |||
Dividends Payable (in Dollars) | $ 118,724 | $ 118,724 | $ 242,908 | |||
Full-Ratchet Anti-Dilution Protection Provision [Member] | Series C Preferred Stock [Member] | ||||||
NOTE 7 - SERIES C 9% CONVERTIBLE PREFERRED STOCK (Details) [Line Items] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in Dollars per share) | $ 3.75 | |||||
Class of Warrant or Right, Outstanding | 926,121 |
NOTE 8 - STOCKHOLDER EQUITY (De
NOTE 8 - STOCKHOLDER EQUITY (Details) - USD ($) | Sep. 10, 2018 | Jun. 30, 2019 | May 31, 2019 | Apr. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 | Sep. 09, 2018 |
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Preferred Stock, Shares Authorized | 1,000,000 | 1,000,000 | 1,000,000 | ||||||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
Stockholders' Equity, Reverse Stock Split | 1 share for every 2.5 shares of common stock | ||||||||
Common Stock, Shares, Issued | 16,133,544 | 21,151,134 | 21,151,134 | 16,868,783 | 40,333,758 | ||||
Adjustments to Additional Paid in Capital, Other (in Dollars) | $ 24,200 | ||||||||
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 | 200,000,000 | ||||||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
Stock Issued During Period, Value, Issued for Services (in Dollars) | $ 2,389,500 | $ 2,333,200 | $ 2,531,500 | ||||||
Proceeds from Warrant Exercises (in Dollars) | $ 4,618,000 | ||||||||
Class of Warrant or Rights, Exercised | 1,433,285 | ||||||||
Proceeds from Stock Options Exercised (in Dollars) | $ 444,838 | $ 0 | |||||||
Share-based Payment Arrangement, Expense (in Dollars) | $ 2,273,600 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Shares Issued in Period | 260,000 | ||||||||
Shares Issued for Services [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Stock Issued During Period, Shares, Issued for Services | 560,000 | ||||||||
Stock Issued During Period, Value, Issued for Services (in Dollars) | $ 2,333,200 | ||||||||
Shares Issued, Price Per Share (in Dollars per share) | $ 4.17 | $ 4.17 | |||||||
Stock Based Compensation [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Stock Issued During Period, Shares, Conversion of Units | 53,332 | ||||||||
Stock in exchange for proceeds [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Stock Issued During Period, Shares, New Issues | 2,155,127 | ||||||||
Proceeds from Issuance or Sale of Equity (in Dollars) | $ 8,619,278 | ||||||||
Payments of Stock Issuance Costs (in Dollars) | $ 1,230 | ||||||||
Stock in Exchange for Proceeds of Exercise of Warrants [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 1,130,029 | ||||||||
Proceeds from Warrant Exercises (in Dollars) | $ 4,618,487 | ||||||||
Stock in Exchange for Proceeds of Exercise of Options [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 160,962 | ||||||||
Class of Warrant or Rights, Exercised | 303,255 | ||||||||
Cashless Exercise of Warrants [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 93,500 | ||||||||
Proceeds from Stock Options Exercised (in Dollars) | $ 444,838 | ||||||||
Cashless Exercise of Options [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Class of Warrant or Rights, Exercised | 130,423 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 38,687 | ||||||||
Series A Preferred Stock [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Preferred Stock, Shares Authorized | 200 | 200 | 200 | ||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | ||||||
Series B Preferred Stock [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Preferred Stock, Shares Authorized | 600 | 600 | 600 | ||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | ||||||
Series C Preferred Stock [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Preferred Stock, Shares Authorized | 4,200 | 4,200 | 4,200 | ||||||
Preferred Stock, Shares Outstanding | 215 | 215 | 475 | ||||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 70,069 | 17,138 | 3,507 | ||||||
Series D Preferred Stock [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Preferred Stock, Shares Authorized | 1,400 | 1,400 | 1,400 | ||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 | ||||||
Series E Preferred Stock [Member] | |||||||||
NOTE 8 - STOCKHOLDER EQUITY (Details) [Line Items] | |||||||||
Preferred Stock, Shares Authorized | 1,000 | 1,000 | 1,000 | ||||||
Preferred Stock, Shares Outstanding | 0 | 0 | 0 |
NOTE 9 - OPTIONS, RESTRICTED _3
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - USD ($) | May 17, 2019 | Mar. 20, 2019 | Mar. 14, 2019 | Feb. 28, 2019 | Jan. 22, 2019 | Jan. 09, 2013 | Oct. 19, 2012 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share Price (in Dollars per share) | $ 9.39 | $ 9.39 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | $ 1,167,313 | $ 499,444 | $ 1,414,021 | |||||||||
Class of Warrant or Rights, Granted | 532,251 | 0 | ||||||||||
Share-based Payment Arrangement, Noncash Expense (in Dollars) | $ 5,727,065 | 3,945,521 | ||||||||||
2012 Equity Incentive Plan [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 805,000 | |||||||||||
Warrants at $2.10 [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Class of Warrant or Rights, Granted | 70,000 | |||||||||||
Share-based Payment Arrangement, Option [Member] | 2012 Equity Incentive Plan [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 15,186,123 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award | the exercise price of an Incentive Stock Option should not be less than 110% of fair value of the common stock at the date of the grant for a 10% or more stockholder and 100% of fair value for a grantee who is not 10% stockholder. | |||||||||||
Common Stock, Capital Shares Reserved for Future Issuance | 910,346 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 805,000 | |||||||||||
Share Price (in Dollars per share) | $ 9.39 | $ 9.39 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value (in Dollars) | $ 306,210 | |||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount (in Dollars) | 2,508,085 | $ 2,508,085 | $ 173,446 | |||||||||
Share-based Payment Arrangement, Option [Member] | 2012 Equity Incentive Plan [Member] | Maximum [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 10 years | |||||||||||
Share-based Payment Arrangement, Option [Member] | 2012 Equity Incentive Plan [Member] | Options at $4.33 [Member] | Services Provided [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 460,000 | |||||||||||
Share-based Compensation Arrangement by Share-basd Payment Award, Options, Exercise Price (in Dollars per share) | $ 4.33 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||||
Share-based Payment Arrangement, Option [Member] | 2012 Equity Incentive Plan [Member] | Options at $5.66 [Member] | Services Provided [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 345,000 | |||||||||||
Share-based Compensation Arrangement by Share-basd Payment Award, Options, Exercise Price (in Dollars per share) | $ 5.66 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||||
Share-based Payment Arrangement, Option [Member] | 2012 Equity Incentive Plan [Member] | Options at $5.66 [Member] | Share-based Payment Arrangement, Tranche One [Member] | Services Provided [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 150,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | vesting at anniversary date beginning March 14, 2020 over 3 years, 175,000 options vesting quarterly beginning June 14, 2019 over 3 years | |||||||||||
Share-based Payment Arrangement, Option [Member] | 2012 Equity Incentive Plan [Member] | Options at $5.66 [Member] | Share-based Payment Arrangement, Tranche Two [Member] | Services Provided [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 175,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | vesting quarterly beginning June 14, 2019 over 3 years | |||||||||||
Share-based Payment Arrangement, Option [Member] | 2012 Equity Incentive Plan [Member] | Options at $5.66 [Member] | Share-based Payment Arrangement, Tranche Three [Member] | Services Provided [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 20,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | vesting at one year anniversary | |||||||||||
Change in fair value of the modified options at May 17, 2019 [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 628,905 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | from the contractual 90 days from termination of service to the earlier of the initial life up or May 17, 2021 | |||||||||||
Equity, Fair Value Adjustment (in Dollars) | $ 666,062 | |||||||||||
Restricted Stock [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Payment Arrangement, Noncash Expense (in Dollars) | 477,239 | $ 0 | 620,820 | $ 0 | ||||||||
Deferred Compensation Share-based Arrangements, Liability, Current and Noncurrent (in Dollars) | $ 586,478 | $ 586,478 | ||||||||||
Restricted Stock [Member] | Shares Issued for Services [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | vesting quarterly beginning on April 1, 2019 over one year | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 120,000 | |||||||||||
Restricted Stock [Member] | Share-based Payment Arrangement, Tranche One [Member] | Shares Issued for Services [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | immediately | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 23,332 | |||||||||||
Restricted Stock [Member] | Share-based Payment Arrangement, Tranche Two [Member] | Shares Issued for Services [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | one year anniversary and 23,334 vesting at two year anniversary | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 23,334 | |||||||||||
Restricted Stock [Member] | Share-based Payment Arrangement, Tranche Three [Member] | Shares Issued for Services [Member] | ||||||||||||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) [Line Items] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights | two year anniversary | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 23,334 |
NOTE 9 - OPTIONS, RESTRICTED _4
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range - $ / shares | 6 Months Ended | |
Jun. 30, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Options Outstanding, Number of Options | 3,562,905 | 3,135,828 |
Options Outstanding, Weighted Average Remaining Life | 5 years 6 months | |
Options Exercisable, Number of Options | 2,867,511 | |
Options at $2.51-$5.00 [Member] | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Options Outstanding, Exercise Price, Lower Range Limit (in Dollars per share) | $ 2.51 | |
Options Outstanding, Exercise Price, Upper Range Limit (in Dollars per share) | $ 5 | |
Options Outstanding, Number of Options | 1,538,361 | |
Options Outstanding, Weighted Average Remaining Life | 8 years 73 days | |
Options Exercisable, Number of Options | 1,076,699 | |
Options at $5.01-$7.50 [Member] | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Options Outstanding, Exercise Price, Lower Range Limit (in Dollars per share) | $ 5.01 | |
Options Outstanding, Exercise Price, Upper Range Limit (in Dollars per share) | $ 7.500 | |
Options Outstanding, Number of Options | 1,904,544 | |
Options Outstanding, Weighted Average Remaining Life | 3 years 109 days | |
Options Exercisable, Number of Options | 1,670,812 | |
Options at $7.51-$10.00 [Member] | ||
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items] | ||
Options Outstanding, Exercise Price, Lower Range Limit (in Dollars per share) | $ 7.51 | |
Options Outstanding, Exercise Price, Upper Range Limit (in Dollars per share) | $ 10 | |
Options Outstanding, Number of Options | 120,000 | |
Options Outstanding, Weighted Average Remaining Life | 5 years 292 days | |
Options Exercisable, Number of Options | 120,000 |
NOTE 9 - OPTIONS, RESTRICTED _5
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Compensation, Stock Options, Activity - 2012 Equity Incentive Plan [Member] - USD ($) | Dec. 31, 2018 | Jun. 30, 2019 |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Compensation, Stock Options, Activity [Line Items] | ||
Options Outstanding, Shares | 3,135,828 | 3,562,905 |
Options Outstanding, Weighted-Average Exercise Price | $ 5.34 | $ 5.25 |
Options Outstanding, Weighted-Average Remaining Contractual Term | 5 years 73 days | 5 years 178 days |
Options Outstanding, Aggregate Intrinsic Value | $ 311,545 | $ 14,810,188 |
Options Exercisable, Shares | 3,562,905 | |
Options Exercisable, Weighted-Average Exercise Price | $ 5.38 | |
Options Exercisable, Weighted-Average Remaining Contractual Term | 4 years 189 days | |
Options Exercisable, Aggregate Intrinsic Value | $ 11,555,767 | |
Options Granted, Shares | 805,000 | |
Options Granted, Weighted-Average Exercise Price | $ 4.90 | |
Options Granted, Weighted-Average Remaining Contractual Term | 10 years | |
Options Exercised, Shares | (223,923) | |
Options Exercised, Weighted-Average Exercise Price | $ 4.91 | |
Options Exercised, Weighted-Average Remaining Contractual Term | 2 years 138 days | |
Options Canceled, Shares | (154,000) | |
Options Canceled, Weighted-Average Exercise Price | $ 5.65 |
NOTE 9 - OPTIONS, RESTRICTED _6
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | 6 Months Ended |
Jun. 30, 2019$ / shares | |
Minimum [Member] | |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items] | |
Risk-free interest rate | 2.53% |
Dividend yield | 0.00% |
Stock price volatility | 90.73% |
Expected life | 6 years |
Weighted average grant date fair value (in Dollars per share) | $ 4.244 |
Maximum [Member] | |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items] | |
Risk-free interest rate | 2.74% |
Dividend yield | 0.00% |
Stock price volatility | 91.55% |
Expected life | 10 years |
Weighted average grant date fair value (in Dollars per share) | $ 4.244 |
Change in fair value of the modified options at May 17, 2019 [Member] | |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items] | |
Dividend yield | 0.00% |
Stock price volatility | 89.97% |
Change in fair value of the modified options at May 17, 2019 [Member] | Minimum [Member] | |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items] | |
Expected life | 43 days |
Change in fair value of the modified options at May 17, 2019 [Member] | Maximum [Member] | |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Line Items] | |
Expected life | 2 years |
NOTE 9 - OPTIONS, RESTRICTED _7
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Nonvested Restricted Stock Shares Activity - Restricted Stock [Member] | 6 Months Ended |
Jun. 30, 2019shares | |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Nonvested Restricted Stock Shares Activity [Line Items] | |
Restricted shares issued | 0 |
Restricted shares Granted | 190,000 |
Restricted shares Vested | (53,332) |
Unvested restricted shares | 136,668 |
NOTE 9 - OPTIONS, RESTRICTED _8
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range - $ / shares | 6 Months Ended | ||
Jun. 30, 2019 | Dec. 31, 2018 | Jan. 09, 2013 | |
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 6.53 | ||
Number of Warrants Outstanding | 2,992,472 | 4,579,511 | |
Warrants at $0.0025 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 0.0025 | ||
Number of Warrants Outstanding | 153,328 | ||
Expiration Date, Warrants | January 2020 | ||
Warrants at $3.75 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 3.75 | ||
Number of Warrants Outstanding | 1,355,200 | ||
Expiration Date, Warrants | October 2019 to August 2021 | ||
Warrants at $4.375 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 4.375 | ||
Number of Warrants Outstanding | 618,272 | ||
Expiration Date, Warrants | April 2021 to May 2021 | ||
Warrants at $4.6 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 4.60 | ||
Number of Warrants Outstanding | 9,385 | ||
Expiration Date, Warrants | January 2020 | ||
Warrants at $4.875 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 4.875 | ||
Number of Warrants Outstanding | 67,006 | ||
Expiration Date, Warrants | August 2019 to September 2019 | ||
Warrants at $5.05 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 5.05 | ||
Number of Warrants Outstanding | 9,556 | ||
Expiration Date, Warrants | January 2020 | ||
Warrants at $6.85 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 6.85 | ||
Number of Warrants Outstanding | 209,377 | ||
Expiration Date, Warrants | July 2021 to August 2021 | ||
Warrants at $6.875 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 6.875 | ||
Number of Warrants Outstanding | 89,240 | ||
Expiration Date, Warrants | August 2019 to September 2019 | ||
Warrants at $9.375 [Member] | |||
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Warrants or Rights, Shares Authorized, by Exercise Price Range [Line Items] | |||
Exercise Price, Warrants (in Dollars per share) | $ 9.375 | ||
Number of Warrants Outstanding | 481,108 | ||
Expiration Date, Warrants | March 2020 |
NOTE 9 - OPTIONS, RESTRICTED _9
NOTE 9 - OPTIONS, RESTRICTED STOCK UNITS AND WARRANTS (Details) - Schedule of Stockholders' Equity Note, Warrants or Rights - USD ($) | Jan. 09, 2013 | Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Abstract] | |||||
Warrants Outstanding, Shares | 2,992,472 | 2,992,472 | 4,579,511 | ||
Warrants Outstanding, Weighted-Average Exercise Price (in Dollars per share) | $ 4.93 | $ 4.93 | $ 4.73 | ||
Warrants Outstanding, Weighted-Average Remaining Contractual Term | 1 year 36 days | 1 year 6 months | |||
Warrants Outstanding, Aggregate Intrinsic Value (in Dollars) | $ 13,335,761 | $ 13,335,761 | $ 1,924,388 | ||
Warrants Vested and expected to vest, Shares | 2,992,472 | 2,992,472 | |||
Warrants Vested and expected to vest, Weighted-Average Exercise Price (in Dollars per share) | $ 4.93 | $ 4.93 | |||
Warrants Vested and expected to vest, Weighted-Average Remaining Contractual Term | 1 year 36 days | ||||
Warrants Vested and expected to vest, Aggregate Intrinsic Value (in Dollars) | $ 13,335,761 | $ 13,335,761 | |||
Warrants Exercisable, Shares | 2,992,472 | 2,992,472 | |||
Warrants Exercisable, Weighted-Average Exercise Price (in Dollars per share) | $ 4.93 | $ 4.93 | |||
Warrants Exercisable, Weighted-Average Remaining Contractual Term | 1 year 36 days | ||||
Warrants Exercisable, Aggregate Intrinsic Value (in Dollars) | $ 13,335,761 | $ 13,335,761 | |||
Warrants Granted, Shares | 532,251 | 0 | |||
Warrants Exercised, Shares | (1,433,285) | ||||
Warrants Exercised, Weighted-Average Exercise Price (in Dollars per share) | $ 4.17 | $ 4.02 | $ 3.75 | ||
Warrants Expired, Shares | (153,754) | ||||
Warrants Expried, Weighted-Average Exercise Price (in Dollars per share) | $ 7.43 |
NOTE 10 - RELATED PARTY TRANS_2
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) - USD ($) | Nov. 01, 2017 | Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Dec. 31, 2018 |
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||||||
Due to Related Parties, Current | $ 14,546 | $ 14,546 | $ 32,366 | |||
Related Party Transaction, Description of Transaction | Company entered into a Master Services Agreement (the “Agreement”) with 3LP Advisors LLC (d/b/a Sherpa Technology Group) (“Sherpa”) and an initial statement of work (the “SOW”), pursuant to which Sherpa will develop, execute and expand the Company’s intellectual property strategy over the course of the next approximately 18 months by evaluating the business and technology landscape in which the Company operates, and charting and executing a strategy of patent filing and licensing. | |||||
Related Party Costs | 75,000 | $ 102,219 | 150,000 | $ 277,219 | ||
Affiliated Entity [Member] | ||||||
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||||||
Related Party Transaction, Description of Transaction | Company will pay Sherpa fee of (i) $200,000 in cash, of which $25,000 will be paid on January 1, 2018, with the remainder to be paid upon completion of certain objectives, and (ii) a ten-year option to purchase up to 120,000 of the Company’s common stock at an exercise of $3.75 per share of common stock, of which 60,000 options vest immediately and 60,000 options were performance conditioned and subsequently vested. | |||||
Director #2 [Member] | ||||||
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||||||
Due from Other Related Parties, Current | $ 0 | $ 0 | ||||
Patent Costs, Consulting Fees and Expense Reimbursements [Member] | ||||||
NOTE 10 - RELATED PARTY TRANSACTIONS (Details) [Line Items] | ||||||
Due from Other Related Parties, Current | $ 0 |
NOTE 12 - SUBSEQUENT EVENTS (De
NOTE 12 - SUBSEQUENT EVENTS (Details) - Subsequent Event [Member] | 1 Months Ended |
Jul. 31, 2019USD ($)$ / sharesshares | |
NOTE 12 - SUBSEQUENT EVENTS (Details) [Line Items] | |
Stock Issued During Period, Shares, Issued for Services | 276,667 |
Stock Issued During Period, Shares, Conversion of Units | 30,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price (in Dollars per share) | $ / shares | $ 9.056 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term | 10 years |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years |
Share-based Payment Arrangement [Member] | |
NOTE 12 - SUBSEQUENT EVENTS (Details) [Line Items] | |
Stock Issued During Period, Shares, Issued for Services | 260,000 |
Series C Preferred Stock [Member] | |
NOTE 12 - SUBSEQUENT EVENTS (Details) [Line Items] | |
Conversion of Stock, Shares Issued | 158,333 |
Stock in Exchange for Proceeds of Exercise of Warrants [Member] | |
NOTE 12 - SUBSEQUENT EVENTS (Details) [Line Items] | |
Stock Issued During Period, Shares, Conversion of Convertible Securities | 295,080 |
Proceeds from Warrant Subscriptions (in Dollars) | $ | $ 1,138,425 |
Cashless Exercise of Warrants [Member] | |
NOTE 12 - SUBSEQUENT EVENTS (Details) [Line Items] | |
Stock Issued During Period, Shares, Conversion of Convertible Securities | 997 |
Class of Warrant or Rights, Exercised | 2,000 |