Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 27, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | Soliton, Inc. | ||
Entity Central Index Key | 0001548187 | ||
Trading Symbol | soly | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | No | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | true | ||
Entity Ex Transition Period | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 14,613,000 | ||
Entity Public Float | $ 0 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Balance Sheets
Balance Sheets - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets: | ||
Cash and cash equivalents | $ 133,435 | $ 18,412 |
Prepaid expenses and other current assets | 10,533 | 7,746 |
Total current assets | 143,968 | 26,158 |
Deferred direct issuance costs - offering | 276,560 | |
Property and equipment, net of accumulated depreciation | 1,014,240 | 336,726 |
Intangible assets, net of accumulated amortization | 84,942 | 92,102 |
Other assets | 23,283 | 23,283 |
Total assets | 1,542,993 | 478,269 |
Current liabilities: | ||
Accounts payable | 2,737,836 | 445,453 |
Accrued liabilities | 1,863,874 | 853,443 |
Dividends payable | 4,613,260 | 3,333,260 |
Accrued interest | 133,804 | |
Accrued interest - related party | 1,162,719 | 295,830 |
Convertible notes payable, net | 1,784,976 | |
Convertible notes payable - related party | 8,422,000 | 6,025,000 |
Notes payable, net | 293,568 | |
Notes payable – related party, net | 65,479 | |
Deferred rent - current portion | 7,106 | |
Total current liabilities | 21,084,622 | 10,952,986 |
Deferred rent | 16,256 | 25,878 |
Total liabilities | 21,100,878 | 10,978,864 |
Commitments and contingencies | ||
Stockholders’ deficit | ||
Common stock, $0.001 par value, 100,000,000 authorized, 1,998,056 and 1,820,556 shares issued and outstanding, respectively | 1,998 | 1,821 |
Additional paid-in capital | 22,568,857 | 21,031,388 |
Accumulated deficit | (42,131,275) | (31,536,339) |
Total stockholders’ deficit | (19,557,885) | (10,500,595) |
Total liabilities and stockholders’ deficit | 1,542,993 | 478,269 |
Series A Preferred Stock [Member] | ||
Stockholders’ deficit | ||
Preferred stock | 417 | 417 |
Series B Preferred Stock [Member] | ||
Stockholders’ deficit | ||
Preferred stock | $ 2,118 | $ 2,118 |
Balance Sheets (Parentheticals)
Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Preferred stock, par value (in dollars per share) | $ 0.001 | |
Preferred stock, shares designated (in shares) | 2,534,766 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 1,998,056 | 1,820,556 |
Common stock, shares outstanding (in shares) | 1,998,056 | 1,820,556 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, liquidation value | $ 1,999,997 | $ 1,999,997 |
Preferred stock, shares designated (in shares) | 416,666 | 416,666 |
Preferred stock, shares issued (in shares) | 416,666 | 416,666 |
Preferred stock, shares outstanding (in shares) | 416,666 | 416,666 |
Series B Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, liquidation value | $ 14,000,641 | $ 14,000,641 |
Preferred stock, shares designated (in shares) | 2,118,100 | 2,118,100 |
Preferred stock, shares issued (in shares) | 2,118,100 | 2,118,100 |
Preferred stock, shares outstanding (in shares) | 2,118,100 | 2,118,100 |
Statements of Operations
Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue | ||
Operating expenses: | ||
Research and development | 4,669,747 | 3,965,276 |
Sales and marketing | 304,601 | 91,288 |
Depreciation and amortization expense | 120,488 | 130,075 |
General and administrative expenses | 3,107,813 | 3,001,969 |
Total operating expenses | 8,202,649 | 7,188,608 |
Loss from operations | (8,202,649) | (7,188,608) |
Other (expense) income: | ||
Interest expense | (1,115,501) | (295,830) |
Other income | 3,214 | 3,814 |
Total other (expense) income | (1,112,287) | (292,016) |
Loss before income taxes | (9,314,936) | (7,480,624) |
Income tax expense | 0 | 0 |
Net loss | (9,314,936) | (7,480,624) |
Dividends to Series A and Series B preferred stockholders | (1,280,000) | (1,280,000) |
Net loss attributable to common stockholders | $ (10,594,936) | $ (8,760,624) |
Net loss per common share, basic and diluted (in dollars per share) | $ (5.64) | $ (5.15) |
Weighted average number of common shares outstanding, basic and diluted (in shares) | 1,877,775 | 1,700,275 |
Statements of Stockholders' Equ
Statements of Stockholders' Equity - USD ($) | Preferred Stock [Member]Series A Preferred Stock [Member] | Preferred Stock [Member]Series B Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 416,666 | 2,118,100 | 1,643,056 | |||
Balance at Dec. 31, 2016 | $ 417 | $ 2,118 | $ 1,643 | $ 20,445,460 | $ (22,775,715) | $ (2,326,077) |
Share-based compensation (in shares) | 177,500 | |||||
Share-based compensation | $ 178 | 585,928 | 586,106 | |||
Accrued preferred dividends | (1,280,000) | (1,280,000) | ||||
Net loss | (7,480,624) | (7,480,624) | ||||
Capital contributions – debt forgiveness | ||||||
Balance (in shares) at Dec. 31, 2017 | 416,666 | 2,118,100 | 1,820,556 | |||
Balance at Dec. 31, 2017 | $ 417 | $ 2,118 | $ 1,821 | 21,031,388 | (31,536,339) | (10,500,595) |
Share-based compensation (in shares) | 177,500 | |||||
Share-based compensation | $ 177 | 938,007 | 938,184 | |||
Accrued preferred dividends | (1,280,000) | (1,280,000) | ||||
Net loss | (9,314,936) | (9,314,936) | ||||
Debt discount on convertible notes and notes payable – issuance of warrants | 466,754 | 466,754 | ||||
Capital contributions – debt forgiveness | 132,708 | 132,708 | ||||
Balance (in shares) at Dec. 31, 2018 | 416,666 | 2,118,100 | 1,998,056 | |||
Balance at Dec. 31, 2018 | $ 417 | $ 2,118 | $ 1,998 | $ 22,568,857 | $ (42,131,275) | $ (19,557,885) |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (9,314,936) | $ (7,480,624) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 120,488 | 130,075 |
Share-based compensation | 938,184 | 586,106 |
Write-down of intangible assets | 19,138 | |
Amortization of debt discount | 111,537 | |
Changes in operating assets – (Increase)/Decrease: | ||
Prepaid expenses and other current assets | (2,787) | 25,817 |
Changes in operating liabilities – Increase/(Decrease): | ||
Accounts payable | 1,387,383 | 10,057 |
Accrued liabilities | 1,143,139 | 335,213 |
Accrued interest – non-related party | 133,804 | |
Accrued interest – related party | 866,889 | 295,830 |
Deferred rent | (2,516) | 1,978 |
NET CASH USED IN OPERATING ACTIVITIES: | (4,599,677) | (6,095,548) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Payments for the purchase of property and equipment | (17,626) | (48,807) |
Payments for acquisition of intangibles | (12,354) | (18,125) |
NET CASH USED IN INVESTING ACTIVITIES: | (29,980) | (66,932) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Proceeds from issuance of convertible notes – related party | 2,397,000 | |
Proceeds from issuance of convertible notes, net | 1,814,240 | |
Proceeds from issuance of non-convertible notes – related party | 125,000 | 6,025,000 |
Proceeds from issuance of non-convertible notes | 560,000 | |
Payment of deferred direct issuance costs – proposed offering | (151,560) | |
NET CASH PROVIDED BY FINANCING ACTIVITIES: | 4,744,680 | 6,025,000 |
Net increase (decrease) in cash and cash equivalents | 115,023 | (137,480) |
Cash and cash equivalents, beginning of period | 18,412 | 155,892 |
Cash and cash equivalents, end of period | 133,435 | 18,412 |
Supplemental cash flow disclosures: | ||
Cash paid for interest | ||
Cash paid for income taxes | ||
Non-cash investing and financing activities: | ||
Accrued direct issuance costs – offering | 125,000 | |
Property and equipment acquired through accounts payable | 780,000 | |
Capital contributions – debt forgiveness | 132,708 | |
Accrued preferred dividends | 1,280,000 | 1,280,000 |
Debt discount on convertible notes and notes payable – issuance of warrants | $ 466,754 |
Note 1 - Background and Organiz
Note 1 - Background and Organization and Going Concern | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | 1. Background, Organization and Going Concern Soliton, Inc. (the “Company”) was organized under the laws of the State of Delaware on March 27, 2012. Initial Public Offering On February 19, 2019, 2,172,591 $5.00 $10,862,955 $9,700,000. $11,784,987 6,825,391 $4,773,480 954,696 2,534,766 127,500 14,613,000. not 4.99% 4.99% $47,781 273,034 not 4.99% not Going Concern The Company is an early stage and emerging growth company and has not not For the years ended December 31, 2018 2017, $10,594,936 $8,760,624, $4,599,677 $6,095,548, December 31, 2018, $42,131,275, $20,940,654 $133,435. not one not The Company’s cash on hand of $5,885,411 March 22, 2019 not February 2020. no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Basis of Presentation The accompanying annual financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). Segments The Company operates in one Use of Estimates in Financial Statement Presentation The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company's significant estimates and assumptions include valuation of equity related instruments, depreciable lives of long-lived assets (including property and equipment and intangible assets), and the valuation allowance related to deferred taxes. Some of these judgments can be subjective and complex, and, consequently, actual results could differ from those estimates. Although the Company believes that its estimates and assumptions are reasonable, they are based upon information available at the time the estimates and assumptions were made. Actual results could differ from those estimates. Cash and Cash Equivalents The Company considers all highly liquid accounts with original maturities of three $250,000 may $250,000. Property and Equipment Property and equipment are stated at historical cost and depreciated on a straight-line basis over the estimated useful lives, generally three five Intangible Assets Intangible assets include patents and trademarks. Patent related costs in connection with filing and prosecuting patent applications and patents filed by the Company are expensed as incurred and are classified as research and development expenses. The Company does not may Long-Lived Assets The Company evaluates its long-lived assets, including equipment, for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not Convertible Debt When conversion terms related to convertible debt would be triggered by future events not Operating and Capital Leases The Company has one not December 31, 2018. Fair Value Measurements Fair value is defined as the price which would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three Level 1 Level 2 1 not Level 3 At December 31, 2018 2017, At December 31, 2018 2017, not 820, Revenue Recognition Beginning from January 1, 2019, Research and Development Expenses Research and development expenses are recognized as incurred and include the costs related to the Company's various contract research service providers, suppliers, engineering studies, supplies, outsourced testing and consulting, clinical costs, and salaries and related costs of employees working directly on research activities. Stock-Based Compensation Stock-based compensation expense includes the estimated fair value of equity awards vested during the reporting period. The expense for equity awards vested during the reporting period is determined based upon the grant date fair value of the award and is recognized as expense over the applicable vesting period of the stock award using the straight-line method. Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of reported assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company must then assess the likelihood that the resulting deferred tax assets will be realized. A valuation allowance is provided when it is more likely than not not Management has evaluated and concluded that there were no December 31, 2018. not twelve The Company classified interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No 2018 2017. Net Loss per Common Share Basic net loss per common share are computed by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive. As of December 31, 2018 2017, 2,235,000 15,000 2,534,766 127,500 305,000 776,350 0 JOBS Act Accounting Election The Company is an emerging growth company ("EGC"), as defined in the Jumpstart Our Business Startups Act of 2012 not may Subsequent Events The Company’s management reviewed all material events through the date that the financial statements were issued for subsequent event disclosure consideration as discussed in Note 10 Recent Accounting Standards In February 2016 No. 2016 02, Leases (Topic 842 one December 15, 2019 first January 1, 2020. July 2018 2018 11, Leases (Topic 842 2018 11. 2016 02 7 not 2016 02 In June 2018, No. 2018 07, 718 January 1, 2020. not not December 31, 2018. The Company does not not |
Note 3 - Deferred Direct Issuan
Note 3 - Deferred Direct Issuance Costs - Offering | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Deferred Direct Issuance Costs, Proposed Offering [Text Block] | 3. Deferred Direct Issuance Costs – Offering As of December 31, 2018, $276,560, February 2019. |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. Property and Equipment Property and equipment consisted of the following: December 31, 2018 December 31, 2017 Computer equipment and software $ 105,704 $ 95,130 Lab equipment 1,024,480 241,377 Leasehold improvements 242,167 242,167 Furniture 19,893 19,893 Subtotal 1,392,244 598,567 Less: accumulated depreciation (378,004 ) (261,841 ) Total property and equipment $ 1,014,240 $ 336,726 As of December 31, 2018, $680,000 2019. Depreciation expense for the years ended December 31, 2018 2017 $120,112 $128,587, |
Note 5 - Intangible Assets
Note 5 - Intangible Assets | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | 5. Intangible Assets The carrying amount and accumulated amortization of intangible assets are as follows: December 31, 2018 December 31, 2017 Patents $ - $ 22,527 Trademarks 84,942 72,590 Subtotal 84,942 95,117 Less: accumulated amortization - (3,015 ) Total intangible assets, net $ 84,942 $ 92,102 During the year ended December 31, 2018, $19,138. December 31, 2018 2017 $376 $1,488, |
Note 6 - Notes Payable
Note 6 - Notes Payable | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. Notes Payable On January 18, 2017, $3,000,000 75% not $5,000,000 85% 8.25% January 31, 2018, 12.0% The Company closed the initial tranche of the First Note on January 23, 2017 $1,000,000, March 1, 2017 $1,000,000 April 27, 2017 $1,000,000. On June 19, 2017, first $3,250,000 $6,250,000. The Company closed $1,300,000 June 19, 2017 $700,000 July 17, 2017. No As of December 31, 2018, $5,000,000 On November 1, 2017, second $1,900,000 75% not $5,000,000 85% 8.25% June 29, 2018, 12.0% The Company closed the initial tranche of the Second Note on November 9, 2017 $400,000, December 1, 2017, $375,000, third December 26, 2017 $250,000, fourth January 8, 2018 $250,000, fifth January 25, 2018 $250,000 February 13, 2018 $375,000 $1,900,000. On June 29, 2018, April 30, 2019. As of December 31, 2018, $1,900,000 On April 2, 2018, August 10, 2018, $500,000 $0.175. not 4.99% 10.0% April 2, 2020. As of December 31, 2018, $500,000. $250,000 $250,000 four On April 17, 2018, $3,000,000 $1.75. 10.0% two As of December 31, 2018, $3,000,000. $1,272,000 $1,728,000 The Company incurred issuance costs relating to the Fourth Note in the amount of $163,760, 24 December 31, 2018, $118,492. The Company also issued warrants to purchase 91,350 $1.75 $103,006, 24 December 31, 2018, $74,532. On August 7, 2018, $485,000 10% five one $1.75 five $125,000 one On August 31, 2018, $200,000 August 7, 2018. December 21, 2018, $300,000 August 7, 2018 $985,000. October 2018 February 2019, $125,000 $860,000 February 15, 2019, $1,005,039 The Company issued 685,000 2018. $775,616. $363,748 $66,423 $297,325 24 December 31, 2018, $59,521 $266,432, The following table summarizes convertible notes payable and interest as of December 31, 2018: Interest Rate Related Party Non-Related Party Total Initial Post-Maturity Principal Interest Principal Interest Principal Interest First Note 8.25 % 12.00% $ 5,000,000 $ — $ 5,000,000 Second Note 8.25 % 12.00% 1,900,000 — 1,900,000 Third Note 10.00 % 10.00% 250,000 250,000 500,000 Fourth Note 10.00 % 10.00% 1,272,000 1,728,000 3,000,000 Total $ 8,422,000 $ 1,160,555 $ 1,978,000 $ 126,529 $ 10,400,000 $ 1,287,084 Unamortized Discount — — (193,024 ) — (193,024 ) — Total, Net $ 8,422,000 $ 1,160,555 $ 1,784,976 $ 126,529 $ 10,206,976 $ 1,287,084 The following table summarizes convertible notes payable and interest as of December 31, 2017: Interest Rate Related Party Non-Related Party Total Initial Post-Maturity Principal Interest Principal Interest Principal Interest First Note 8.25 % 12.00% $ 5,000,000 $ — $ 5,000,000 Second Note 8.25 % 12.00% 1,025,000 — 1,025,000 Total $ 6,025,000 $ 295,830 $ — $ — $ 6,025,000 $ 295,830 The following table summarizes non-convertible notes payable and interest as of December 31, 2018: Interest Rate Related Party Non-Related Party Total Initial Post-Maturity Principal Interest Principal Interest Principal Interest Fifth Note 10.00 % 10.00% $ 125,000 $ 560,000 $ 685,000 Total $ 125,000 $ 2,164 $ 560,000 $ 7,275 $ 685,000 $ 9,439 Unamortized Discount (59,521 ) — (266,432 ) — (325,953 ) — Total, Net $ 65,479 $ 2,164 $ 293,568 $ 7,275 $ 359,047 $ 9,439 During the years ended December 31, 2018 2017, $1,000,693 $295,830, |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments Contingencies and Guarantees [Text Block] | 7. Commitments and Contingencies On April 5, 2012, 30 third MD Anderson has the right to terminate the agreement upon advanced notice in the event of a default by Soliton. The agreement will expire upon the expiration of the licensed intellectual property. The rights obtained by the Company pursuant to the agreement are made subject to the rights of the U.S. government to the extent that the technology covered by the licensed intellectual property was developed under a funding agreement between MD Anderson and the U.S. government. All out-of-pocket expenses incurred by MD Anderson in filing, prosecuting and maintaining the licensed patents have been and shall continue to be assumed by the Company. For the years ended December 31, 2018 2017, $55,000 $45,000, Leases The Company leases space for its corporate office, which provides for a five July 15, 2015, $8,053 December 31, 2018 2017 $89,643 $96,631, Future minimum lease payments as of December 31, 2018 Year Ending December, 31 Amount 2019 103,737 2020 108,429 Thereafter 36,668 Total future minimum lease payments $ 248,834 Legal Proceedings In the normal course of business, from time-to-time, the Company may not |
Note 8 - Stockholders' Deficit
Note 8 - Stockholders' Deficit | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 8. Stockholders’ Deficit Preferred Stock As of December 31, 2018, 2,534,766 $0.001 may As of December 31, 2018 2017, 416,666 2,118,100 The Series A preferred stock has the following features: 1. Dividends accrue at a rate of 8% $4.80 $24.00 $50,000,000 50.1% 2. A liquidation right preferable over the right of the Company’s common stock. 3. Each share of the Series A preferred stock has one 4. Each share of the Series A preferred stock is convertible by the holder, at any time, into shares of common stock equal to $4.80 $4.80. The Series B preferred stock has similar rights as Series A preferred stock except that the dividends are based on $6.61 $6.61 $6.61. December 31, 2018 2017, $4,613,260 $3,333,260, December 31, 2018, $4.80 $6.61, All outstanding shares of Series A and Series B preferred stock and accrued dividends on these shares were converted into common stock upon the Company’s IPO on February 14, 2019. February 19, 2019 no Adoption of 2012 In November 2012, 2012 “2012 2012 may 2012 2012 2012 789,745 December 31, 2018, 14,745 2012 Adoption of 2018 In June 2018, 2018 2018 may 2018 2018 2018 3,000,000 December 31, 2018, 780,000 2018 Restricted Stock During the years ended December 31, 2018 2017, $533,550 $570,536, December 31, 2018 2017, 177,500 December 31, 2018, 127,500 December 31, 2018, $264,451. Stock Options The following table summarizes stock option activities for the years ended December 31, 2018: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in Years) Aggregate Intrinsic Value Outstanding, December 31, 2016 — $ — $ — Granted 15,000 0.13 Outstanding, December 31, 2017 15,000 0.13 9.75 — Granted 2,220,000 1.75 Outstanding, December 31, 2018 2,235,000 1.74 9.44 $ 23,100 Exercisable, December 31, 2018 7,500 $ 0.13 8.76 $ 11,550 During the year ended December 31, 2018, 2,220,000 $1.75 10 4 $2,694,567 1 2.77% 2 6.25 3 84.5% 84.7% 4 no 5 $1.67 On October 1, 2017, 15,000 ten $0.13 3,750 3,750 $46,711 1 1.92% 2 5.75 3 79.0% 4 no 5 $3.21 All options issued and outstanding are being amortized over their respective vesting periods. The unrecognized compensation expense at December 31, 2018 $2,321,072. December 31, 2018 2017, $404,635 $15,570, Warrants On April 20, 2018, 79,350 $1.75. April 20, 2023. On June 8, 2018, 12,000 $1.75. June 8, 2023. From October December 2018, 685,000 $1.75. five The grant date fair value of these 776,350 $878,622, 1 2.8% 3.05% 2 5 3 84% 86% 4 no 5 $1.67 The fair value amount was included in discounts on convertible notes payable and notes payable, which were amortized over the life of the debt. At December 31, 2018, $400,485. During the year ended December 31, 2018, $66,269. The following table summarizes warrant activities for the year ended December 31, 2018: Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding, December 31, 2017 — $ — — $ — Granted 776,350 1.75 Exercised — — Canceled — — Outstanding, December 31, 2018 776,350 $ 1.75 4.80 $ — Exercisable, December 31, 2018 776,350 $ 1.75 4.80 $ — During the year ended December 31, 2018, $132,708 2015 2018 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 9. Income Taxes On December 22, 2017, not 1 35 21 2 3 4 December 31, 2017; ( 5 6 100% $3.4 December 31, 2017. no The Company files U.S. federal and various U.S. state income tax returns. Due to the Company’s losses, there was no December 31, 2018 2017. The income tax provision differs from the amount using the statutory federal income tax rate of 21% 2018 34% 2017 December 31, 2018 December 31, 2017 Amount % Amount % Tax benefit at the U.S. federal statutory rate $ (1,956,137 ) (21.00 %) $ (2,543,412 ) (34.00 %) Tax rate change — — 3,391,624 45.34 % Permanent differences 119,266 1.28 % 8,908 0.11 % Return to provision (94,219 ) (1.01 %) (92,256 ) (1.23 %) Valuation allowance 1,931,090 20.73 % (764,864 ) (10.23 %) Effective income tax rate $ — — % $ — — % The effective income tax rate varied from the statutory rate in 2018 2017 Deferred tax assets and liabilities consist of the following: December 31, 2018 December 31, 2017 Assets related to: Accounts payable and accrued liabilities $ 1,224,599 $ 325,560 Net operating losses 6,240,595 5,192,813 Total deferred tax assets 7,465,194 5,518,373 Valuation allowance for deferred tax assets (7,409,867 ) (5,478,777 ) Net deferred tax 55,327 39,596 Liabilities related to: Accounts receivable and prepaid expenses (27,976 ) (665 ) Depreciation and amortization of property and equipment and intangibles (27,351 ) (38,931 ) Net deferred tax liabilities (55,327 ) (39,596 ) Net deferred tax assets $ — $ — The Company has federal net operating loss (“NOL”) carryforwards of approximately $24.7 2036. $5.0 2018. not 80% The Company has recorded a full valuation allowance against its net total deferred tax assets as of December 31, 2018 2017 not not not not During the year ended December 31, 2018, $1.9 |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 10 In January 2019, one $484,000 September 30, 2018, February 5, 2019, 401,750 $1.75 10 four In January February 2019, $300,000 10% five one $1.75. On February 19, 2019, 1. On February 19, 2019, no 100,000,000. On February 26, 2019, 2019, one $25,000 On March 4, 2019, March 18, 2019, 510 On March 12, 2019, $ 60,000 $70,000; $30,000. On March 20, 2019, $200,000 March 20, 2020. March 29, 2019, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying annual financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). |
Segment Reporting, Policy [Policy Text Block] | Segments The Company operates in one |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in Financial Statement Presentation The preparation of these financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. The Company's significant estimates and assumptions include valuation of equity related instruments, depreciable lives of long-lived assets (including property and equipment and intangible assets), and the valuation allowance related to deferred taxes. Some of these judgments can be subjective and complex, and, consequently, actual results could differ from those estimates. Although the Company believes that its estimates and assumptions are reasonable, they are based upon information available at the time the estimates and assumptions were made. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid accounts with original maturities of three $250,000 may $250,000. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at historical cost and depreciated on a straight-line basis over the estimated useful lives, generally three five |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Intangible Assets Intangible assets include patents and trademarks. Patent related costs in connection with filing and prosecuting patent applications and patents filed by the Company are expensed as incurred and are classified as research and development expenses. The Company does not may |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets The Company evaluates its long-lived assets, including equipment, for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not |
Debt, Policy [Policy Text Block] | Convertible Debt When conversion terms related to convertible debt would be triggered by future events not |
Lessee, Leases [Policy Text Block] | Operating and Capital Leases The Company has one not December 31, 2018. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements Fair value is defined as the price which would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three Level 1 Level 2 1 not Level 3 At December 31, 2018 2017, At December 31, 2018 2017, not 820, |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Beginning from January 1, 2019, |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Expenses Research and development expenses are recognized as incurred and include the costs related to the Company's various contract research service providers, suppliers, engineering studies, supplies, outsourced testing and consulting, clinical costs, and salaries and related costs of employees working directly on research activities. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation Stock-based compensation expense includes the estimated fair value of equity awards vested during the reporting period. The expense for equity awards vested during the reporting period is determined based upon the grant date fair value of the award and is recognized as expense over the applicable vesting period of the stock award using the straight-line method. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are determined based on the differences between the financial reporting and the tax bases of reported assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. The Company must then assess the likelihood that the resulting deferred tax assets will be realized. A valuation allowance is provided when it is more likely than not not Management has evaluated and concluded that there were no December 31, 2018. not twelve The Company classified interest expense and any related penalties related to income tax uncertainties as a component of income tax expense. No 2018 2017. |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Common Share Basic net loss per common share are computed by dividing net loss available to common stockholders by the weighted-average number of common shares outstanding during the period. Diluted net loss per common share is determined using the weighted-average number of common shares outstanding during the period, adjusted for the dilutive effect of common stock equivalents. In periods when losses are reported, the weighted-average number of common shares outstanding excludes common stock equivalents, because their inclusion would be anti-dilutive. As of December 31, 2018 2017, 2,235,000 15,000 2,534,766 127,500 305,000 776,350 0 |
JOBS Act Accounting Election [Policy Text Block] | JOBS Act Accounting Election The Company is an emerging growth company ("EGC"), as defined in the Jumpstart Our Business Startups Act of 2012 not may |
Subsequent Events, Policy [Policy Text Block] | Subsequent Events The Company’s management reviewed all material events through the date that the financial statements were issued for subsequent event disclosure consideration as discussed in Note 10 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Standards In February 2016 No. 2016 02, Leases (Topic 842 one December 15, 2019 first January 1, 2020. July 2018 2018 11, Leases (Topic 842 2018 11. 2016 02 7 not 2016 02 In June 2018, No. 2018 07, 718 January 1, 2020. not not December 31, 2018. The Company does not not |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2018 December 31, 2017 Computer equipment and software $ 105,704 $ 95,130 Lab equipment 1,024,480 241,377 Leasehold improvements 242,167 242,167 Furniture 19,893 19,893 Subtotal 1,392,244 598,567 Less: accumulated depreciation (378,004 ) (261,841 ) Total property and equipment $ 1,014,240 $ 336,726 |
Note 5 - Intangible Assets (Tab
Note 5 - Intangible Assets (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | December 31, 2018 December 31, 2017 Patents $ - $ 22,527 Trademarks 84,942 72,590 Subtotal 84,942 95,117 Less: accumulated amortization - (3,015 ) Total intangible assets, net $ 84,942 $ 92,102 |
Note 6 - Notes Payable (Tables)
Note 6 - Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | Interest Rate Related Party Non-Related Party Total Initial Post-Maturity Principal Interest Principal Interest Principal Interest First Note 8.25 % 12.00% $ 5,000,000 $ — $ 5,000,000 Second Note 8.25 % 12.00% 1,900,000 — 1,900,000 Third Note 10.00 % 10.00% 250,000 250,000 500,000 Fourth Note 10.00 % 10.00% 1,272,000 1,728,000 3,000,000 Total $ 8,422,000 $ 1,160,555 $ 1,978,000 $ 126,529 $ 10,400,000 $ 1,287,084 Unamortized Discount — — (193,024 ) — (193,024 ) — Total, Net $ 8,422,000 $ 1,160,555 $ 1,784,976 $ 126,529 $ 10,206,976 $ 1,287,084 Interest Rate Related Party Non-Related Party Total Initial Post-Maturity Principal Interest Principal Interest Principal Interest First Note 8.25 % 12.00% $ 5,000,000 $ — $ 5,000,000 Second Note 8.25 % 12.00% 1,025,000 — 1,025,000 Total $ 6,025,000 $ 295,830 $ — $ — $ 6,025,000 $ 295,830 Interest Rate Related Party Non-Related Party Total Initial Post-Maturity Principal Interest Principal Interest Principal Interest Fifth Note 10.00 % 10.00% $ 125,000 $ 560,000 $ 685,000 Total $ 125,000 $ 2,164 $ 560,000 $ 7,275 $ 685,000 $ 9,439 Unamortized Discount (59,521 ) — (266,432 ) — (325,953 ) — Total, Net $ 65,479 $ 2,164 $ 293,568 $ 7,275 $ 359,047 $ 9,439 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Year Ending December, 31 Amount 2019 103,737 2020 108,429 Thereafter 36,668 Total future minimum lease payments $ 248,834 |
Note 8 - Stockholders' Deficit
Note 8 - Stockholders' Deficit (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Life (in Years) Aggregate Intrinsic Value Outstanding, December 31, 2016 — $ — $ — Granted 15,000 0.13 Outstanding, December 31, 2017 15,000 0.13 9.75 — Granted 2,220,000 1.75 Outstanding, December 31, 2018 2,235,000 1.74 9.44 $ 23,100 Exercisable, December 31, 2018 7,500 $ 0.13 8.76 $ 11,550 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term (in Years) Aggregate Intrinsic Value Outstanding, December 31, 2017 — $ — — $ — Granted 776,350 1.75 Exercised — — Canceled — — Outstanding, December 31, 2018 776,350 $ 1.75 4.80 $ — Exercisable, December 31, 2018 776,350 $ 1.75 4.80 $ — |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | December 31, 2018 December 31, 2017 Amount % Amount % Tax benefit at the U.S. federal statutory rate $ (1,956,137 ) (21.00 %) $ (2,543,412 ) (34.00 %) Tax rate change — — 3,391,624 45.34 % Permanent differences 119,266 1.28 % 8,908 0.11 % Return to provision (94,219 ) (1.01 %) (92,256 ) (1.23 %) Valuation allowance 1,931,090 20.73 % (764,864 ) (10.23 %) Effective income tax rate $ — — % $ — — % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2018 December 31, 2017 Assets related to: Accounts payable and accrued liabilities $ 1,224,599 $ 325,560 Net operating losses 6,240,595 5,192,813 Total deferred tax assets 7,465,194 5,518,373 Valuation allowance for deferred tax assets (7,409,867 ) (5,478,777 ) Net deferred tax 55,327 39,596 Liabilities related to: Accounts receivable and prepaid expenses (27,976 ) (665 ) Depreciation and amortization of property and equipment and intangibles (27,351 ) (38,931 ) Net deferred tax liabilities (55,327 ) (39,596 ) Net deferred tax assets $ — $ — |
Note 1 - Background and Organ_2
Note 1 - Background and Organization and Going Concern (Details Textual) - USD ($) | Feb. 19, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Mar. 22, 2019 | Feb. 18, 2019 |
Common Stock, Shares, Outstanding, Ending Balance | 1,998,056 | 1,820,556 | |||
Net Income (Loss) Available to Common Stockholders, Basic, Total | $ (10,594,936) | $ (8,760,624) | |||
Net Cash Provided by (Used in) Operating Activities, Total | (4,599,677) | (6,095,548) | |||
Retained Earnings (Accumulated Deficit), Ending Balance | (42,131,275) | $ (31,536,339) | |||
Working Capital | (20,940,654) | ||||
Cash, Ending Balance | $ 133,435 | ||||
Subsequent Event [Member] | |||||
Stock Issued During Period, Shares, New Issues | 2,172,591 | ||||
Shares Issued, Price Per Share | $ 5 | ||||
Proceeds from Issuance of Common Stock | $ 10,862,955 | ||||
Proceeds from Issuance of Common Stock, Net | 9,700,000 | ||||
Debt Conversion, Original Debt, Amount | $ 11,784,987 | ||||
Debt Conversion, Converted Instrument, Shares Issued | 6,825,391 | ||||
Conversion of Accrued Dividends into Common Stock, Amount Converted | $ 4,773,480 | ||||
Conversion of Accrued Dividends into Common Stock, Shares Issued | 954,696 | ||||
Common Stock, Shares, Outstanding, Ending Balance | 14,613,000 | 127,500 | |||
Debt Instrument, Convertible, Threshold Percentage of Stock Ownership After Conversion | 4.99% | ||||
Convertible Debt, Total | $ 47,781 | ||||
Debt Instrument, Convertible, Number of Equity Instruments | 273,034 | ||||
Cash, Ending Balance | $ 5,885,411 | ||||
Subsequent Event [Member] | Conversion of Preferred Stock into Common Stock [Member] | |||||
Conversion of Stock, Shares Issued | 2,534,766 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Capital Lease Obligations, Total | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense, Total | $ 0 | $ 0 |
Employee Stock Option [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,235,000 | 15,000 |
Convertible Preferred Stocks [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 2,534,766 | 2,534,766 |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 127,500 | 305,000 |
Convertible Debt Securities [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 776,350 | 0 |
Minimum [Member] | ||
Property, Plant and Equipment, Useful Life | 3 years | |
Maximum [Member] | ||
Property, Plant and Equipment, Useful Life | 5 years |
Note 3 - Deferred Direct Issu_2
Note 3 - Deferred Direct Issuance Costs - Offering (Details Textual) | Dec. 31, 2018USD ($) |
Deferred Direct Issuance Costs, Proposed Offering | $ 276,560 |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Total | $ 120,112 | $ 128,587 |
Equipment [Member] | ||
Property, Plant and Equipment, Held for Testing | $ 680,000 |
Note 4 - Property and Equipme_4
Note 4 - Property and Equipment - Property and Equipment (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Property and Equipment, Gross | $ 1,392,244 | $ 598,567 |
Less: accumulated depreciation | (378,004) | (261,841) |
Total property and equipment | 1,014,240 | 336,726 |
Computer Equipment [Member] | ||
Property and Equipment, Gross | 105,704 | 95,130 |
Equipment [Member] | ||
Property and Equipment, Gross | 1,024,480 | 241,377 |
Leasehold Improvements [Member] | ||
Property and Equipment, Gross | 242,167 | 242,167 |
Furniture and Fixtures [Member] | ||
Property and Equipment, Gross | $ 19,893 | $ 19,893 |
Note 5 - Intangible Assets (Det
Note 5 - Intangible Assets (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Impairment of Intangible Assets, Finite-lived | $ 19,138 | |
Amortization of Intangible Assets, Total | $ 376 | $ 1,488 |
Note 5 - Intangible Assets - In
Note 5 - Intangible Assets - Intangible Assets (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Intangible assets, gross | $ 84,942 | $ 95,117 |
Less: accumulated amortization | (3,015) | |
Total intangible assets, net | 84,942 | 92,102 |
Patents [Member] | ||
Intangible assets, gross | 22,527 | |
Trademarks [Member] | ||
Intangible assets, gross | $ 84,942 | $ 72,590 |
Note 6 - Notes Payable (Details
Note 6 - Notes Payable (Details Textual) - USD ($) | Feb. 28, 2019 | Feb. 19, 2019 | Feb. 15, 2019 | Dec. 21, 2018 | Oct. 31, 2018 | Aug. 31, 2018 | Aug. 10, 2018 | Feb. 13, 2018 | Jan. 25, 2018 | Jan. 08, 2018 | Dec. 26, 2017 | Dec. 01, 2017 | Nov. 09, 2017 | Nov. 01, 2017 | Jul. 17, 2017 | Jun. 19, 2017 | Apr. 27, 2017 | Mar. 01, 2017 | Jan. 23, 2017 | Jan. 18, 2017 | Feb. 13, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | Aug. 07, 2018 | Jun. 08, 2018 | Apr. 20, 2018 | Apr. 17, 2018 |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 776,350 | ||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.75 | ||||||||||||||||||||||||||
Warrants and Rights Outstanding | $ 878,622 | ||||||||||||||||||||||||||
Interest Expense, Debt, Total | $ 1,000,693 | $ 295,830 | |||||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Ownership After Conversion | 4.99% | ||||||||||||||||||||||||||
Warrant Issued Under Fourth Note [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 91,350 | 12,000 | 79,350 | ||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.75 | $ 1.75 | $ 1.75 | ||||||||||||||||||||||||
Warrants and Rights Outstanding | $ 103,006 | ||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 74,532 | ||||||||||||||||||||||||||
Warrant Issued with Fifth Note [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1 | ||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.75 | ||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||||||||||||||||||||||
Warrants Issued in Connection with Fifth Note [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Issued During Period | 685,000 | ||||||||||||||||||||||||||
Class of Warrant or Right, Issued During Period, Value | $ 775,616 | ||||||||||||||||||||||||||
Convertible Debt [Member] | |||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 193,024 | ||||||||||||||||||||||||||
Convertible Debt [Member] | Non-related Party Investors [Member] | |||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 193,024 | ||||||||||||||||||||||||||
First Note [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 6,250,000 | $ 3,000,000 | |||||||||||||||||||||||||
Debt Instrument, Convertible, Percentage of Stock Price, Subsequent Equity Financing Gross Proceeds Note Less Than 5 Million | 75.00% | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Equity Financing Gross Proceeds Trigger | $ 5,000,000 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Percentage of Stock Price, Fully-diluted Common Shares | 85.00% | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||
Debt Instrument, Interest Rate, Maturity | 12.00% | 12.00% | 12.00% | ||||||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 700,000 | 1,300,000 | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | ||||||||||||||||||||||
Debt Agreement, Additional Borrowing Capacity | $ 3,250,000 | ||||||||||||||||||||||||||
First Note [Member] | Convertible Debt [Member] | A Single Related Party [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 5,000,000 | ||||||||||||||||||||||||||
Second Note [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 1,900,000 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Percentage of Stock Price, Subsequent Equity Financing Gross Proceeds Note Less Than 5 Million | 75.00% | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Percentage of Stock Price, Fully-diluted Common Shares | 85.00% | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.25% | 8.25% | 8.25% | ||||||||||||||||||||||||
Debt Instrument, Interest Rate, Maturity | 12.00% | 12.00% | 12.00% | ||||||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 375,000 | $ 250,000 | $ 250,000 | $ 250,000 | $ 375,000 | $ 400,000 | $ 1,900,000 | ||||||||||||||||||||
Second Note [Member] | Convertible Debt [Member] | A Single Related Party [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,900,000 | ||||||||||||||||||||||||||
Third Note [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 500,000 | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Maturity | 10.00% | ||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 500,000 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.175 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Threshold Percentage of Stock Ownership After Conversion | 4.99% | ||||||||||||||||||||||||||
Third Note [Member] | Convertible Debt [Member] | Non-related Party Investors [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount | 250,000 | ||||||||||||||||||||||||||
Third Note [Member] | Convertible Debt [Member] | A Single Related Party [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 250,000 | ||||||||||||||||||||||||||
Fourth Note [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 3,000,000 | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Maturity | 10.00% | ||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 3,000,000 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.75 | ||||||||||||||||||||||||||
Debt Issuance Costs, Gross | $ 163,760 | ||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | 118,492 | ||||||||||||||||||||||||||
Fourth Note [Member] | Convertible Debt [Member] | Non-related Party Investors [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount | 1,728,000 | ||||||||||||||||||||||||||
Fourth Note [Member] | Convertible Debt [Member] | Investor [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount | 1,272,000 | ||||||||||||||||||||||||||
Fifth Note [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 400,485 | ||||||||||||||||||||||||||
Fifth Note [Member] | Non-convertible Promissory Notes [Member] | |||||||||||||||||||||||||||
Debt Agreement, Maximum Borrowing Capacity | $ 985,000 | $ 485,000 | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||||||||||||||||||||
Debt Agreement, Additional Borrowing Capacity | 300,000 | $ 200,000 | |||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | 363,748 | ||||||||||||||||||||||||||
Proceeds from (Repayments of) Notes Payable, Total | $ (1,005,039) | ||||||||||||||||||||||||||
Fifth Note [Member] | Non-convertible Promissory Notes [Member] | Subsequent Event [Member] | |||||||||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 860,000 | ||||||||||||||||||||||||||
Fifth Note [Member] | Non-convertible Promissory Notes [Member] | Non-related Party Investors [Member] | |||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | 297,325 | ||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 266,432 | ||||||||||||||||||||||||||
Fifth Note [Member] | Non-convertible Promissory Notes [Member] | Related Party [Member] | |||||||||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 125,000 | ||||||||||||||||||||||||||
Debt Issuance Costs, Net, Total | $ 66,423 | ||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 59,521 |
Note 6 - Notes Payable - Summar
Note 6 - Notes Payable - Summarizes Notes Payable and Interest (Details) - USD ($) | Dec. 31, 2018 | Aug. 10, 2018 | Apr. 17, 2018 | Dec. 31, 2017 | Nov. 01, 2017 | Jan. 18, 2017 |
Convertible Debt [Member] | ||||||
Principal | $ 10,400,000 | $ 6,025,000 | ||||
Interest | 1,287,084 | 295,830 | ||||
Unamortized Discount | (193,024) | |||||
Principal, Net | 10,206,976 | |||||
Convertible Debt [Member] | Non-related Party Investors [Member] | ||||||
Principal | 1,978,000 | |||||
Interest | 126,529 | |||||
Unamortized Discount | (193,024) | |||||
Principal, Net | 1,784,976 | |||||
Convertible Debt [Member] | Related Party [Member] | ||||||
Principal | 8,422,000 | 6,025,000 | ||||
Interest | 1,160,555 | $ 295,830 | ||||
Unamortized Discount | ||||||
Principal, Net | $ 8,422,000 | |||||
Convertible Debt [Member] | First Note [Member] | ||||||
Interest Rate Initial | 8.25% | 8.25% | 8.25% | |||
Interest Rate Post-Maturity | 12.00% | 12.00% | 12.00% | |||
Principal | $ 5,000,000 | $ 5,000,000 | ||||
Interest | ||||||
Convertible Debt [Member] | First Note [Member] | Non-related Party Investors [Member] | ||||||
Principal | ||||||
Interest | ||||||
Convertible Debt [Member] | First Note [Member] | Related Party [Member] | ||||||
Principal | 5,000,000 | 5,000,000 | ||||
Interest | ||||||
Convertible Debt [Member] | Fifth Note [Member] | ||||||
Unamortized Discount | $ (400,485) | |||||
Convertible Debt [Member] | Second Note [Member] | ||||||
Interest Rate Initial | 8.25% | 8.25% | 8.25% | |||
Interest Rate Post-Maturity | 12.00% | 12.00% | 12.00% | |||
Principal | $ 1,900,000 | $ 1,025,000 | ||||
Interest | ||||||
Convertible Debt [Member] | Second Note [Member] | Non-related Party Investors [Member] | ||||||
Principal | ||||||
Interest | ||||||
Convertible Debt [Member] | Second Note [Member] | Related Party [Member] | ||||||
Principal | 1,900,000 | 1,025,000 | ||||
Interest | ||||||
Convertible Debt [Member] | Third Note [Member] | ||||||
Interest Rate Initial | 10.00% | 10.00% | ||||
Interest Rate Post-Maturity | 10.00% | |||||
Principal | $ 500,000 | |||||
Interest | ||||||
Convertible Debt [Member] | Third Note [Member] | Non-related Party Investors [Member] | ||||||
Principal | 250,000 | |||||
Interest | ||||||
Convertible Debt [Member] | Third Note [Member] | Related Party [Member] | ||||||
Principal | 250,000 | |||||
Interest | ||||||
Convertible Debt [Member] | Fourth Note [Member] | ||||||
Interest Rate Initial | 10.00% | 10.00% | ||||
Interest Rate Post-Maturity | 10.00% | |||||
Principal | $ 3,000,000 | |||||
Interest | ||||||
Convertible Debt [Member] | Fourth Note [Member] | Non-related Party Investors [Member] | ||||||
Principal | 1,728,000 | |||||
Interest | ||||||
Convertible Debt [Member] | Fourth Note [Member] | Related Party [Member] | ||||||
Principal | 1,272,000 | |||||
Interest | ||||||
Notes Payable, Other Payables [Member] | ||||||
Principal | 685,000 | |||||
Interest | 9,439 | |||||
Unamortized Discount | (325,953) | |||||
Principal, Net | 359,047 | |||||
Notes Payable, Other Payables [Member] | Non-related Party Investors [Member] | ||||||
Principal | 560,000 | |||||
Interest | 7,275 | |||||
Unamortized Discount | (266,432) | |||||
Principal, Net | 293,568 | |||||
Notes Payable, Other Payables [Member] | Related Party [Member] | ||||||
Principal | 125,000 | |||||
Interest | 2,164 | |||||
Unamortized Discount | (59,521) | |||||
Principal, Net | $ 65,479 | |||||
Notes Payable, Other Payables [Member] | Fifth Note [Member] | ||||||
Interest Rate Initial | 10.00% | |||||
Interest Rate Post-Maturity | 10.00% | |||||
Principal | $ 685,000 | |||||
Interest | ||||||
Notes Payable, Other Payables [Member] | Fifth Note [Member] | Non-related Party Investors [Member] | ||||||
Principal | 560,000 | |||||
Interest | ||||||
Notes Payable, Other Payables [Member] | Fifth Note [Member] | Related Party [Member] | ||||||
Principal | 125,000 | |||||
Interest |
Note 7 - Commitments and Cont_3
Note 7 - Commitments and Contingencies (Details Textual) - USD ($) | Jul. 15, 2018 | Dec. 31, 2018 | Dec. 31, 2017 |
Operating Leases, Rent Expense, Net, Total | $ 89,643 | $ 96,631 | |
office Space Lease Arrangement [Member] | |||
Lessee, Operating Lease, Term of Contract | 5 years | ||
Leases, Monthly Payment | $ 8,053 | ||
MD Anderson [Member] | |||
Payments for Patent and Technology License Agreement Expenses | $ 55,000 | $ 45,000 |
Note 7 - Commitments and Cont_4
Note 7 - Commitments and Contingencies - Future Minimum Lease Payments (Details) | Dec. 31, 2018USD ($) |
2019 | $ 103,737 |
2020 | 108,429 |
Thereafter | 36,668 |
Total future minimum lease payments | $ 248,834 |
Note 8 - Stockholders' Defici_2
Note 8 - Stockholders' Deficit (Details Textual) - USD ($) | Oct. 01, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2018 | Jun. 08, 2018 | Apr. 20, 2018 | Nov. 30, 2012 |
Preferred Stock, Shares Authorized | 2,534,766 | ||||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | ||||||
Dividends Payable | $ 1,280,000 | $ 1,280,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 15,000 | 2,220,000 | 15,000 | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 0.13 | $ 1.75 | $ 0.13 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Aggregated Grant Date Fair Value | $ 2,694,567 | ||||||
Share Price | $ 1.67 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares | 3,750 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 776,350 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.75 | ||||||
Warrants and Rights Outstanding | $ 878,622 | ||||||
Amortization of Debt Discount (Premium) | 111,537 | ||||||
Extinguishment of Debt, Gain (Loss), Net of Tax, Total | 132,708 | ||||||
Convertible Debt [Member] | |||||||
Debt Instrument, Unamortized Discount, Total | 193,024 | ||||||
Fifth Note [Member] | Convertible Debt [Member] | |||||||
Debt Instrument, Unamortized Discount, Total | 400,485 | ||||||
Amortization of Debt Discount (Premium) | $ 66,269 | ||||||
Measurement Input, Expected Term [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 5 | ||||||
Measurement Input, Expected Dividend Payment [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0 | ||||||
Measurement Input, Share Price [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 1.67 | ||||||
Warrant Issued Under Fourth Note [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 91,350 | 12,000 | 79,350 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.75 | $ 1.75 | $ 1.75 | ||||
Warrants and Rights Outstanding | $ 103,006 | ||||||
Debt Instrument, Unamortized Discount, Total | $ 74,532 | ||||||
Fifth Note [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 685,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.75 | ||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||
Minimum [Member] | Measurement Input, Discount Rate [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0.028 | ||||||
Minimum [Member] | Measurement Input, Price Volatility [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0.84 | ||||||
Maximum [Member] | Measurement Input, Discount Rate [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0.0305 | ||||||
Maximum [Member] | Measurement Input, Price Volatility [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0.86 | ||||||
Restricted Stock [Member] | |||||||
Allocated Share-based Compensation Expense, Total | $ 533,550 | $ 570,536 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period | 177,500 | 177,500 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance | 127,500 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 264,451 | ||||||
Employee Stock Option [Member] | |||||||
Allocated Share-based Compensation Expense, Total | 404,635 | $ 15,570 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 2,321,072 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Discount Rate | 1.92% | 2.77% | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years 273 days | 6 years 91 days | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 79.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments | $ 0 | $ 0 | |||||
Share Price | $ 3.21 | ||||||
Stock Granted, Value, Share-based Compensation, Net of Forfeitures, Total | $ 46,711 | ||||||
Employee Stock Option [Member] | Minimum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 84.50% | ||||||
Employee Stock Option [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 84.70% | ||||||
2012 Long Term Incentive Plan [Member] | |||||||
Common Stock, Capital Shares Reserved for Future Issuance | 789,745 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 14,745 | ||||||
2018 Stock Plan [Member] | |||||||
Common Stock, Capital Shares Reserved for Future Issuance | 3,000,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 780,000 | ||||||
Series A Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized | 416,666 | 416,666 | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||
Preferred Stock, Shares Issued, Total | 416,666 | 416,666 | |||||
Preferred Stock, Dividend Rate, Percentage | 8.00% | ||||||
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ 4.80 | ||||||
Preferred Stock, Dividend Payable, Share Price | $ 24 | ||||||
Preferred Stock, Dividend Payable, Gross Proceeds from Common Shares | $ 50,000,000 | ||||||
Preferred Stock, Dividend Payable, Percentage of Issued and Outstanding Shares | 50.10% | ||||||
Convertible Preferred Stock, Conversion Price | $ 4.80 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance | 416,666 | 416,666 | |||||
Series B Preferred Stock [Member] | |||||||
Preferred Stock, Shares Authorized | 2,118,100 | 2,118,100 | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | |||||
Preferred Stock, Shares Issued, Total | 2,118,100 | 2,118,100 | |||||
Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ 6.61 | ||||||
Convertible Preferred Stock, Conversion Price | $ 6.61 | ||||||
Dividends Payable | $ 4,613,260 | $ 3,333,260 | |||||
Preferred Stock, Shares Outstanding, Ending Balance | 2,118,100 | 2,118,100 |
Note 8 - Stockholders' Defici_3
Note 8 - Stockholders' Deficit - Stock Options (Details) - USD ($) | Oct. 01, 2017 | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Outstanding, Number of Shares (in shares) | 15,000 | |||
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 0.13 | |||
Outstanding, Weighted Average Remaining Life (Year) | 9 years 160 days | 9 years 273 days | ||
Granted, Number of Shares (in shares) | 15,000 | 2,220,000 | 15,000 | |
Granted, Weighted Average Exercise Price (in dollars per share) | $ 0.13 | $ 1.75 | $ 0.13 | |
Outstanding, Number of Shares (in shares) | 2,235,000 | 15,000 | ||
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 1.74 | $ 0.13 | ||
Outstanding, Aggregate Intrinsic Value | $ 23,100 | |||
Exercisable, Number of Shares (in shares) | 7,500 | |||
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 0.13 | |||
Exercisable, Weighted Average Remaining Life (Year) | 8 years 277 days | |||
Exercisable, Aggregate Intrinsic Value | $ 11,550 |
Note 8 - Stockholders' Defici_4
Note 8 - Stockholders' Deficit - Warrants (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Warrant outstanding, shares (in shares) | ||
Warrant outstanding, weighted average exercise price (in dollars per share) | ||
Warrant outstanding, weighted average remaining contractual term (Year) | 4 years 292 days | |
Warrant granted, shares (in shares) | 776,350 | |
Warrant granted, weighted average exercise price (in dollars per share) | $ 1.75 | |
Warrant exercised, shares (in shares) | ||
Warrant exercised, weighted average exercise price (in dollars per share) | ||
Warrant canceled, shares (in shares) | ||
Warrant canceled, weighted average exercise price (in dollars per share) | ||
Warrant outstanding, shares (in shares) | 776,350 | |
Warrant outstanding, weighted average exercise price (in dollars per share) | $ 1.75 | |
Warrant outstanding, aggregate intrinsic value | ||
Warrant exercisable, shares (in shares) | 776,350 | |
Warrant exercisable, weighted average exercise price (in dollars per share) | $ 1.75 | |
Warrant exercisable, weighted average remaining contractual term (Year) | 4 years 292 days | |
Warrant exercisable, aggregate intrinsic value |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 3,400 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 34.00% |
Operating Loss Carryforwards, Increase | $ 5,000 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | 1,900 | |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 24,700 |
Note 9 - Income Taxes - Income
Note 9 - Income Taxes - Income Tax Reconciliation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Tax benefit at the U.S. federal statutory rate, amount | $ (1,956,137) | $ (2,543,412) |
Tax benefit at the U.S. federal statutory rate, percent | (21.00%) | (34.00%) |
Tax rate change, amount | $ 3,391,624 | |
Tax rate change, percent | 45.34% | |
Permanent differences, amount | $ 119,266 | $ 8,908 |
Permanent differences, percent | 1.28% | 0.11% |
Return to provision, amount | $ (94,219) | $ (92,256) |
Return to provision, percent | (1.01%) | (1.23%) |
Valuation allowance, amount | $ 1,931,090 | $ (764,864) |
Valuation allowance, percent | 20.73% | (10.23%) |
Effective income tax rate, amount | $ 0 | $ 0 |
Effective income tax rate, percent |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Assets related to: | ||
Accounts payable and accrued liabilities | $ 1,224,599 | $ 325,560 |
Net operating losses | 6,240,595 | 5,192,813 |
Total deferred tax assets | 7,465,194 | 5,518,373 |
Valuation allowance for deferred tax assets | (7,409,867) | (5,478,777) |
Net deferred tax | 55,327 | 39,596 |
Liabilities related to: | ||
Accounts receivable and prepaid expenses | (27,976) | (665) |
Depreciation and amortization of property and equipment and intangibles | (27,351) | (38,931) |
Net deferred tax liabilities | (55,327) | (39,596) |
Net deferred tax assets |
Note 10 - Subsequent Events (De
Note 10 - Subsequent Events (Details Textual) | Mar. 12, 2019USD ($) | Feb. 26, 2019USD ($) | Feb. 05, 2019$ / sharesshares | Oct. 01, 2017$ / sharesshares | Jan. 31, 2019USD ($) | Dec. 31, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares | Mar. 20, 2019USD ($) | Feb. 28, 2019USD ($)$ / sharesshares | Feb. 19, 2019shares |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 15,000 | 2,220,000 | 15,000 | |||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.13 | $ 1.75 | $ 0.13 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.75 | |||||||||
Preferred Stock, Shares Authorized | shares | 2,534,766 | |||||||||
Common Stock, Shares Authorized | shares | 100,000,000 | 100,000,000 | ||||||||
Employee Stock Option [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||||||
Subsequent Event [Member] | ||||||||||
Extinguishment of Deferred Compensation, Amount | $ 484,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 401,750 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 1.75 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Number of Quarterly Installments | 4 | |||||||||
Preferred Stock, Shares Authorized | shares | 0 | |||||||||
Common Stock, Shares Authorized | shares | 100,000,000 | |||||||||
Letters of Credit Outstanding, Amount | $ 200,000 | |||||||||
Subsequent Event [Member] | Non-employee Director [Member] | ||||||||||
One-time Cash Compensation Paid for Services to Each Independent Director | $ 25,000 | |||||||||
Subsequent Event [Member] | Chief Executive Officer [Member] | ||||||||||
Salary and Wage, Excluding Cost of Good and Service Sold, Total | $ 60,000 | |||||||||
Subsequent Event [Member] | Chief Financial Officer [Member] | ||||||||||
Salary and Wage, Excluding Cost of Good and Service Sold, Total | 70,000 | |||||||||
Subsequent Event [Member] | Chief Operating Officer [Member] | ||||||||||
Salary and Wage, Excluding Cost of Good and Service Sold, Total | 30,000 | |||||||||
Subsequent Event [Member] | Board of Directors Chairman [Member] | ||||||||||
Salary and Wage, Excluding Cost of Good and Service Sold, Total | $ 60,000 | |||||||||
Subsequent Event [Member] | Warrants in Connection with Non-convertible Promissory Notes [Member] | ||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.75 | |||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares | 1 | |||||||||
Subsequent Event [Member] | Non-convertible Promissory Notes [Member] | ||||||||||
Debt Instrument, Face Amount | $ 300,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||
Subsequent Event [Member] | Employee Stock Option [Member] | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years |