enVVeno Medical (NVNO) 10-Q 9 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 09, 2019
Document And Entity Information
Entity Registrant Name	Hancock Jaffe Laboratories, Inc.
Entity Central Index Key	0001661053
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Common Stock, Shares Outstanding		14,149,507
Trading Symbol	HJLI
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current Assets:
Cash and cash equivalents	$ 2,752,511	$ 2,740,645
Accounts receivable	26,515	32,022
Prepaid expenses and other current assets	166,614	64,306
Total Current Assets	2,945,640	2,836,973
Property and equipment, net	24,887	26,153
Restricted cash	810,055
Operating lease right-of-use assets, net	1,030,527
Intangible assets, net	647,058	666,467
Security deposits and other assets	29,843	29,843
Total Assets	5,488,010	3,559,436
Current Liabilities:
Accounts payable	1,095,866	1,077,122
Accrued expenses and other current liabilities	438,534	412,871
Deferred revenue - related party	33,000	33,000
Current portion of operating lease liabilities	271,101
Total Current Liabilities	1,838,501	1,522,993
Long-term operating lease liabilities	784,462
Total Liabilities	2,622,963	1,522,993
Commitments and Contingencies
Stockholders' Equity:
Preferred stock, par value $0.00001, 10,000,000 shares authorized: no shares issued or outstanding
Common stock, par value $0.00001, 50,000,000 shares authorized, 14,155,644 and 11,722,647 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	141	117
Additional paid-in capital	53,001,160	50,598,854
Accumulated deficit	(50,136,254)	(48,562,528)
Total Stockholders' Equity	2,865,047	2,036,443
Total Liabilities and Stockholders' Equity	$ 5,488,010	$ 3,559,436

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.00001	$ 0.00001
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued
Preferred stock, shares outstanding
Common stock, par value	$ 0.00001	$ 0.00001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	14,155,644	11,722,647
Common stock, shares outstanding	14,155,644	11,722,647

Condensed Statements of Operati

Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Royalty income	$ 31,243	$ 31,065
Selling, general and administrative expenses	1,300,571	1,247,008
Research and development expenses	313,013	240,493
Loss from Operations	(1,582,341)	(1,456,436)
Other (Income) Expense:
Amortization of debt discount		4,569,757
Gain on extinguishment of convertible notes payable		(1,524,791)
Interest (income) expense, net	(8,615)	210,462
Change in fair value of derivative liabilities		35,623
Total Other (Income) Expense	(8,615)	3,291,051
Net Loss	(1,573,726)	(4,747,487)
Deemed dividend to preferred stockholders		(129,141)
Net Loss Attributable to Common Stockholders	$ (1,573,726)	$ (4,876,628)
Net Loss Per Basic and Diluted Common Share:	$ (0.13)	$ (0.80)
Weighted Average Number of Common Shares Outstanding: Basic and Diluted	12,267,446	6,133,678

Condensed Statements of Changes

Condensed Statements of Changes in Stockholders' Equity (Deficiency) (Unaudited) - USD ($)		Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2017		$ 61	$ 24,389,307	$ (35,519,819)	$ (11,130,451)
Balance, shares at Dec. 31, 2017		6,133,678
Stock-based compensation: Amortization of stock options			137,376		137,376
Net loss				(4,747,487)	(4,747,487)
Balance at Mar. 31, 2018		$ 61	24,526,683	(40,267,306)	(15,740,562)
Balance, shares at Mar. 31, 2018		6,133,678
Balance at Dec. 31, 2018		$ 117	50,598,854	(48,562,528)	2,036,443
Balance, shares at Dec. 31, 2018		11,722,647
Stock-based compensation: Amortization of stock options			82,720		82,720
Common stock issued private placement offering	[1]	$ 24	2,317,252		2,317,276
Common stock issued private placement offering, shares	[1]	2,347,997
Stock-based compensation: Common stock issued to consultants
Stock-based compensation: Common stock issued to consultants, shares		85,000
Stock-based compensation: Warrants granted to consultants			2,334		2,334
Net loss				(1,573,726)	(1,573,726)
Balance at Mar. 31, 2019		$ 141	$ 53,001,160	$ (50,136,254)	$ 2,865,047
Balance, shares at Mar. 31, 2019		14,155,644
[1]	net of offering costs of $386,724.

Condensed Statements of Chang_2

Condensed Statements of Changes in Stockholders' Equity (Deficiency) (Unaudited) (Parenthetical)	Mar. 31, 2019USD ($)
Private Placement Offering [Member]
Offering cost	$ 386,724

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows (Unaudited) - USD ($)		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Cash Flows from Operating Activities
Net loss		$ (1,573,726)	$ (4,747,487)
Adjustments to reconcile net loss to net cash used in operating activities:
Amortization of debt discount			4,569,757
Gain on extinguishment of convertible notes payable			(1,524,791)
Stock-based compensation		104,310	137,376
Depreciation and amortization		22,473	33,206
Amortization of right-of-use assets		68,873
Change in fair value of derivatives			35,623
Changes in operating assets and liabilities:
Accounts receivable		5,507	4,116
Inventory			(106,743)
Prepaid expenses and other current assets		(102,308)	57,544
Accounts payable		18,744	50,702
Accrued expenses		28,882	(134,722)
Payments on lease liabilities		(66,310)
Total adjustments		80,171	3,122,068
Net Cash Used in Operating Activities		(1,493,555)	(1,625,419)
Cash Flows from Investing Activities
Purchase of property and equipment		(1,800)
Net Cash Used in Investing Activities		(1,800)
Cash Flows from Financing Activities
Proceeds from private placement, net	[1]	2,317,276
Initial public offering costs paid in cash			(341,890)
Repayments of notes payable			(275,000)
Repayments of notes payable - related party			(130,000)
Proceeds from issuance of convertible notes, net	[2]		2,603,750
Net Cash Provided by Financing Activities		2,317,276	1,856,860
Net Increase in Cash, Cash Equivalent, and Restricted Cash		821,921	231,441
Cash, cash equivalents and restricted cash - Beginning of period		2,740,645	77,688
Cash, cash equivalents and restricted cash - End of period		2,752,511	309,129
Supplemental Disclosures of Cash Flow Information:
Cash Paid (Received) During the Period For: Interest, net		(12,441)	303,888
Non-Cash Financing Activities
Fair value of warrants issued in connection with convertible debt included in derivative liabilities			1,942,362
Embedded conversion option in convertible debt included in derivative liabilities			$ 1,232,199
[1]	Net of cash offering costs of $386,724
[2]	Net of cash offering costs of $293,750

Condensed Statements of Cash _2

Condensed Statements of Cash Flows (Unaudited) (Parenthetical) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Initial Public Offering [Member]
Cash offering costs	$ 386,724	$ 293,750

Business Organization and Natur

Business Organization and Nature of Operations	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Organization and Nature of Operations	Note 1 – Business Organization and Nature of Operations Hancock Jaffe Laboratories, Inc. (“HJLI” or the “Company”) is a development stage company developing tissue based solutions that are designed to be life sustaining or life enhancing for patients with cardiovascular disease, and peripheral arterial and venous disease. HJLI’s products are being developed to address large unmet medical needs by either offering treatments where none currently exist or by substantially increasing the existing standards of care. Our two lead products which we are developing are the VenoValve®, a porcine based device to be surgically implanted in the deep venous system of the leg to treat a debilitating condition called chronic venous insufficiency (“CVI”), and the CoreoGraft®, a bovine based conduit to be used to revascularize the heart during coronary artery bypass graft (“CABG”) surgeries. Our current products are being developed for approval by the U.S. Food and Drug Administration (“FDA”). We currently receive tissue for our products from two domestic suppliers and one international supplier. Our current business model is to license, sell, or enter into strategic alliances with large medical device companies with respect to our products, either prior to or after FDA approval. For example, we developed, manufactured, and obtained FDA pre-market approval for the ProCol Vascular Bioprosthesis, a product for hemodialysis vascular access, which we sold to LeMaitre Vascular in March of 2016. Our current senior management team has been affiliated with more than 80 products that have received FDA approval or CE marking. We currently lease a 14,507 sq. ft. manufacturing facility in Irvine, California, where we manufacture products for our clinical trials and which was FDA certified for commercial manufacturing of product.

Going Concern and Management's

Going Concern and Management's Liquidity Plan	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Going Concern and Management' s Liquidity Plan	Note 2 – Going Concern and Management’s Liquidity Plan The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The condensed financial statements do not include any adjustments relating to the recoverability and classification of asset amounts or the classification of liabilities that might be necessary should the Company be unable to continue as a going concern for the next twelve months from the filing of this Form 10-Q. The Company incurred a net loss of $1,573,726 for the three months ended March 31, 2019 and had an accumulated deficit of $50,136,254 at March 31, 2019. Cash used in operating activities was $1,493,555 and $1,625,419 for the three months ended March 31, 2019 and 2018, respectively. The aforementioned factors raise substantial doubt about the Company’s ability to continue as a going concern within one year after the issuance date of the financial statements. As of March 31, 2019, the Company had cash balance of $2,752,511, restricted cash of $810,055 and working capital of $1,107,139. The Company expects to continue incurring losses for the foreseeable future and will need to raise additional capital to sustain its operations, pursue its product development initiatives and penetrate markets for the sale of its products. Management believes that the Company could have access to capital resources through possible public or private equity offerings, debt financings, corporate collaborations or other means. However, there is a material risk that the Company will be unable to raise additional capital or obtain new financing when needed on commercially acceptable terms, if at all. The inability of the Company to raise needed capital would have a material adverse effect on the Company’s business, financial condition and results of operations, and ultimately the Company could be forced to curtail or discontinue its operations, liquidate and/or seek reorganization in bankruptcy. These financial statements do not include any adjustments that might result from the outcome of this uncertainty.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Significant Accounting Policies	Note 3 – Significant Accounting Policies Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair presentation of the unaudited condensed financial statements of the Company as of March 31, 2019, and for the three months ended March 31, 2019 and 2018. The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the operating results for the full year. These unaudited condensed financial statements should be read in conjunction with the financial statements and notes thereto for the year ended December 31, 2018 included in the Company’s Form 10-K filed with the SEC on March 14, 2019. The condensed balance sheet as of December 31, 2018 has been derived from the Company’s audited financial statements. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. Significant estimates and assumptions include the valuation allowance related to the Company’s deferred tax assets, and the valuation of warrants and derivative liabilities. Net Loss per Share The Company computes basic and diluted loss per share by dividing net loss attributable to common stockholders by the weighted average number of common stock outstanding during the period. Net loss attributable to common stockholders consists of net loss, adjusted for the convertible preferred stock deemed dividend resulting from the 8% cumulative dividend on the Series A and Series B Preferred Stock (“Preferred Stock”) that were issued in 2016 and 2017 and the beneficial conversion feature recorded in connection with the conversion of the Preferred Stock. Since the Preferred Stock were converted on June 4, 2018 into common stock in connection with the Company’s IPO, there was no deemed dividend in the three months ended March 31, 2019. Basic and diluted net loss per common share are the same since the inclusion of common stock issuable pursuant to the exercise of warrants and options, plus the conversion of preferred stock or convertible notes, in the calculation of diluted net loss per common shares would have been anti-dilutive. The following table summarizes the number of potentially dilutive common stock equivalents excluded from the calculation of diluted net loss per common share as of March 31, 2019 and 2018: March 31, 2019 2018 Shares of common stock issuable upon conversion of preferred stock - 629,746 Shares of common stock issuable upon exercise of preferred stock warrants and the subsequent conversion of the preferred stock issued therewith - 50,285 Shares of common stock issuable upon the conversion of convertible debt - 470,666 Shares of common stock issuable upon exercise of warrants 4,003,679 633,761 Shares of common stock issuable upon exercise of options 1,182,624 1,422,000 Potentially dilutive common stock equivalents excluded from diluted net loss per share 5,186,303 3,206,458 Revenue Recognition The Company recognizes revenue when goods or services are transferred to customers in an amount that reflects the consideration which it expects to receive in exchange for those goods or services. Revenue is recognized from contracts with customers either at a “point in time” or “over time”, depending on the facts and circumstances of the arrangement that the Company evaluates using the following five-step analysis: (i) identification of contract with customer; (ii) determination of performance obligations; (iii) measurement of the transaction price; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The following table lists the Company’s revenue recognized in the accompanying condensed statements of operations: For the Three Months Ended March 31, 2019 2018 Royalty income $ 31,243 $ 31,065 Royalty revenue, which is based on resales of ProCol Vascular Bioprosthesis to third-parties, will be recorded when the third-party sale occurs and the performance obligation has been satisfied. Information on Remaining Performance Obligations and Revenue Recognized from Past Performance Information about remaining performance obligations pertaining to contracts that have an original expected duration of one year or less is not disclosed. The transaction price allocated to remaining unsatisfied or partially unsatisfied performance obligations with an original expected duration exceeding one year was not material at March 31, 2019. Contract Balances The timing of our revenue recognition may differ from the timing of payment by our customers. A receivable is recorded when revenue is recognized prior to payment and the Company has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, deferred revenue is recorded until the performance obligations are satisfied. The Company had deferred revenue of $33,000 as of March 31, 2019 and December 31, 2018 related to cash received in advance for contract research and development services. The Company expects to satisfy its remaining performance obligations for contract research and development services and recognize the deferred revenue over the next twelve months. 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. The fair value of the award is measured on the grant date and recognized over the period services are required to be provided in exchange for the award, usually the vesting period. Forfeitures of unvested stock options are recorded when they occur. Concentrations The Company maintains cash with major financial institutions. Cash held in United States bank institutions is currently insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 at each institution. There were aggregate uninsured cash balances of $3,312,566 as of March 31, 2019. For the three months ended March 31, 2019 and 2018, all of the Company’s revenues were from royalties as a result of the three-year Post-Acquisition Supply Agreement with LeMaitre Vascular, Inc. that was effective from March 18, 2016 to March 18, 2019. Subsequent Events The Company evaluated events that have occurred after the balance sheet date through the date the financial statements were issued. Based upon the evaluation and transactions, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statements.

Cash, Cash Equivalents and Rest

Cash, Cash Equivalents and Restricted Cash	3 Months Ended
	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
Cash, Cash Equivalents and Restricted Cash	Note 4 – Cash, Cash Equivalents and Restricted Cash Cash and cash equivalents consist principally of deposit accounts and money market accounts as of March 31, 2019 and December 31, 2018. As of March 31, 2019, the Company had $810,055 in restricted cash. On January 18, 2019, the Superior Court granted ATSCO, Inc. (see Note 8 - Commitments and Contingencies - Litigations Claims and Assessments) The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the balance sheets that sum to the total of the same amounts shown in the statement of cash flows. March 31, December 31, 2019 2018 Cash and cash equivalents $ 2,752,511 $ 2,740,645 Restricted cash 810,055 - Total cash, cash equivalents, and restricted cash in the balance sheet $ 3,562,566 $ 2,740,645

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 5 – Property and Equipment As of March 31, 2019 and December 31, 2018, property and equipment consist of the following: March 31, December 31, 2019 2018 Lab equipment $ 94,905 $ 94,905 Furniture and fixtures 93,417 93,417 Computer software and equipment 28,629 26,830 Leasehold improvements 158,092 158,092 Total property and equipment 375,043 373,244 Less: accumulated depreciation (350,156 ) (347,091 ) Property and equipment, net $ 24,887 $ 26,153 Depreciation expense amounted to $3,065 and $2,380 for the three months ended March 31, 2019 and 2018, respectively. Depreciation expense is reflected in general and administrative expenses in the accompanying statements of operations.

Right-of-Use Assets and Lease L

Right-of-Use Assets and Lease Liabilities	3 Months Ended
	Mar. 31, 2019
Right-of-use Assets And Lease Liabilities
Right-of-Use Assets and Lease Liabilities	Note 6 – Right-of-Use Assets and Lease Liabilities On September 20, 2017, the Company renewed its operating lease for its manufacturing facility in Irvine, California, effective October 1, 2017, for five years with an option to extend the lease for an additional 60-month term at the end of lease term. The initial lease rate was $26,838 per month with escalating payments. In connection with the lease, the Company is obligated to pay $7,254 monthly for operating expenses for building repairs and maintenance. The Company has no other operating or financing leases with terms greater than 12 months. The Company adopted ASC Topic 842, Leases (Topic 842) effective January 1, 2019 using the prospective approach. In addition, the Company elected not to apply ASC Topic 842 to arrangements with lease terms of 12 months or less. On January 1, 2019, upon adoption of ASC Topic 842, the Company recorded right-of-use assets of $1,099,400, lease liabilities of $1,121,873 and eliminated deferred rent of $22,473. The Company determined the lease liabilities using the Company’s estimated incremental borrowing rate of 8.5% to estimate the present value of the remaining monthly lease payments. Our operating lease cost is as follows: For the Three Months Ended March 31, 2019 Operating lease cost $ 84,492 Supplemental cash flow information related to our operating lease is as follows: For the Three Months Ended March 31, 2019 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 82,929 Remaining lease term and discount rate for our operating lease is as follows: March 31, 2019 Remaining lease term 4 years Discount rate 8.5 % Maturity of our lease liabilities by fiscal year for our operating lease is as follows: Nine months ended December 31, 2019 $ 251,274 Year ended December 31, 2020 344,229 Year ended December 31, 2021 354,561 Year ended December 31, 2022 271,854 Total $ 1,221,918 Less: Imputed interest (166,355 ) Present value of our lease liability $ 1,055,563

Accrued Expenses and Accrued In

Accrued Expenses and Accrued Interest - Related Party	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Accrued Expenses and Accrued Interest - Related Party	Note 7 – Accrued Expenses and Accrued Interest – Related Party As of March 31, 2019 and December 31, 2018, accrued expenses consist of the following: March 31, December 31, 2019 2018 Accrued compensation costs $ 274,035 $ 288,549 Accrued professional fees 118,138 55,300 Deferred rent - 22,473 Accrued franchise taxes 27,107 26,985 Accrued stock compensation expense 19,254 - Accrued research and development - 17,064 Other accrued expenses - 2,500 Accrued expenses $ 438,534 $ 412,871 Included in accrued compensation costs in the table above is accrued severance expense of $92,308 and $166,154 for the three months ended March 31, 2019 and year ended December 31, 2018, respectively, pursuant to the terms of the employment agreement for the Company’s prior Chief Financial Officer, who was terminated effective July 20, 2018.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 8 – Commitments and Contingencies Litigations Claims and Assessments In the normal course of business, the Company may be involved in legal proceedings, claims and assessments arising in the ordinary course of business. The Company records legal costs associated with loss contingencies as incurred and accrues for all probable and estimable settlements. On September 25, 2018, ATSCO, Inc., filed a complaint with the Superior Court seeking payment of $809,520 plus legal costs for disputed invoices to the Company dated from 2015 to June 30, 2018. The Company had entered into a Services and Material Supply Agreement (“Agreement”), dated March 4, 2016 for ATSCO to supply porcine and bovine tissue. The Company is disputing the amount owed and that the Agreement called for a fixed monthly fee regardless of tissue delivered. The Company believes it has numerous defenses and rights of setoff including without limitation: that ATSCO had an obligation to mitigate the fees when they were not delivering tissues and not incurring any costs; $173,400 of the amount that ATSCO is seeking are for invoices to Hancock Jaffe Laboratory Aesthetics, Inc. (in which the Company owns a minority interest of 28.0% as described in Note 4 to the Financial Statements – Significant Accounting Policies - Investments On October 8, 2018, Gusrae Kaplan Nusbaum PLLC (“Gusrae”) filed a complaint with the Supreme Court of the State of New York seeking payment of $178,926 plus interest and legal costs for invoices to the Company dated from November 2016 to December 2017. In July 2016, the Company retained Gusrae to represent the Company in connection with certain specific matters. The Company believes that Gusrae has not applied all of the payments made by the Company along with billing irregularities and errors and is disputing the amount owed. The Company recorded the disputed invoices in accounts payable and as of March 31, 2019, the Company has fully accrued for the outstanding claim against the Company. The Company has been contacted by an individual that claims to be owed a fee for introducing the Company to Alexander Capital, who was the placement agent for the capital raise of the convertible notes issued in 2017 and 2018. The Company has conducted its own factual investigation and legal analysis and believes that the claim is without merit. The individual has threatened to file a lawsuit, and in the event that a lawsuit is filed, the Company would have numerous defenses including without limitation that the individual was unlicensed to provide the services he alleges he provided.

Stockholders' Equity (Deficienc

Stockholders' Equity (Deficiency)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Stockholders' Equity (Deficiency)	Note 9 –Stockholders’ Equity (Deficiency Common Stock On February 7, 2019, the Company entered into an Agreement (“MZ Agreement”) with MZHCI, LLC, a MZ Group Company (“MZ”) for MZ to provide investor relations advisory services. The MZ Agreement is for a term of twelve (12) months and can be cancelled by either party at the end of six (6) months with thirty (30) days’ notice. MZ will receive compensation of $8,000 per month and eighty-five thousand (85,000) restricted shares that vest quarterly over a year, with a 6 month cliff. If the MZ Agreement is terminated by MZ at the end of six months, MZ forfeits the restricted shares. On March 12, 2019, the Company raised $2,704,000 in gross proceeds in a private placement offering of its common stock to certain accredited investors (the “Offering”). The Company sold an aggregate of 2,329,615 shares of common stock in the Offering for a purchase price of $1.15 per share pursuant to a share purchase agreement between the Company and each of the investors in the Offering. Our CEO also participated in the Offering purchasing 18,382 shares at a price of $1.36 per share, the final bid price of our common stock as reported on The Nasdaq Capital Market on the date of the Offering. Warrants On January 3, 2019, the Company entered into an Agreement (“Alere Agreement”) with Alere Financial Partners, a division of Cova Capital Partners LLC (“Alere”) for Alere to provide capital markets advisory services. The Alere Agreement is on a month to month basis that can be cancelled by either party with thirty (30) days advance notice. The Company will pay a monthly fee of $7,500 and issued to Alere five-year warrants to purchase 35,000 shares of the Company’s common stock at an exercise price of $1.59, equal to the closing price of the Company’s common stock on February 7, 2019, the date of approval by the Company’s board of directors. The warrants shall vest equally monthly over a 12 month period provided that the Alere Agreement remains in effect. The placement agent for the March 12, 2019 Offering is entitled to a warrant to purchase such number of shares of the Company’s common stock equal to 8% of the total shares of common stock sold in the Offering or 188,108 shares. Such warrant will be exercisable for a period of five years from the date of issuance and will have an exercise price of $1.50 per share. Stock Options On February 7, 2019, in connection with her Employment Agreement, the Company granted non-qualified stock options for the purchase of 150,000 shares of common stock at an exercise price of $1.59 to H. Chris Sarner, our Vice President Regulatory Affairs and Quality Assurances. The exercise price was equal to the closing price of our common stock on February 7, 2019, the date that the Board approved the option grant. The options have a ten-year term and 50,000 of the options will vest on the first anniversary of Ms. Sarner’s employment with the Company, and the remaining 100,000 options will vest on a quarterly basis over the following two-year period. The options had grant date fair value of $0.58 per share for an aggregate grant date fair value of $87,000, using the Black Scholes method with the following assumptions used: stock price of $1.59, risk-free interest rate of 2.47%, volatility of 36.3%, annual rate of quarterly dividends of 0%, and a contractual term of 5.3 years. On February 7, 2019, the Company’s board of directors approved the grant of 30,000 non-qualified options to purchase shares of the Company’s common stock to H. Jorge Ulloa as compensation for services provided as the Company’s Primary Investigator for the first-in-human trials of our VenoValve in Colombia in February and April 2019. The stock options were granted at an exercise price of $1.59, equal to the closing price of our common stock on the date that the Board approved the option grant. The options vest monthly, over a one (1) year period. The options had grant date fair value of $0.58 per share for an aggregate grant date fair value of $17,400, using the Black Scholes method with the following assumptions used: stock price of $1.59, risk-free interest rate of 2.47%, volatility of 36.1%, annual rate of quarterly dividends of 0%, and a contractual term of 5.3 years. On January 7, 2019, Dr. Peter Pappas agreed to join the Company’s Medical Advisory Board for a term of two years. The Company’s board of directors approved the grant on March 6, 2019 of 20,000 non-qualified options to purchase shares of the Company’s common stock to Dr. Pappas as compensation. The stock options were granted at an exercise price of $1.38, equal to the closing price of our common stock on the date that the Board approved the option grant. The options will vest monthly in twenty-four (24) equal installments for each month that he remains a member of the Company’s Medical Advisory Board. The options had grant date fair value of $0.50 per share for an aggregate grant date fair value of $10,000, using the Black Scholes method with the following assumptions used: stock price of $1.38, risk-free interest rate of 2.50%, volatility of 35.9%, annual rate of quarterly dividends of 0%, and a contractual term of 5.3 years. The Company recognized $82,720 and $137,376 of stock-based compensation related to stock options during the three months ended March 31, 2019 and 2018, respectively. As of March 31, 2019, there was $680,246 of unrecognized stock-based compensation expense related to outstanding stock options that will be recognized over the weighted average remaining vesting period of 1.4 years. Restricted Stock Units In April 2019, Mr. Marcus Robins, a Director on the Company’s Board of Directors passed away. Per his restricted stock unit Award Agreement, upon his death, 29,183 units representing the non-vested portion of his restricted stock units were forfeited.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and disclosures required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, such statements include all adjustments (consisting only of normal recurring items) which are considered necessary for a fair presentation of the unaudited condensed financial statements of the Company as of March 31, 2019, and for the three months ended March 31, 2019 and 2018. The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the operating results for the full year. These unaudited condensed financial statements should be read in conjunction with the financial statements and notes thereto for the year ended December 31, 2018 included in the Company’s Form 10-K filed with the SEC on March 14, 2019. The condensed balance sheet as of December 31, 2018 has been derived from the Company’s audited financial statements.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent liabilities at the dates of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from these estimates. Significant estimates and assumptions include the valuation allowance related to the Company’s deferred tax assets, and the valuation of warrants and derivative liabilities.
Net Loss Per Share	Net Loss per Share The Company computes basic and diluted loss per share by dividing net loss attributable to common stockholders by the weighted average number of common stock outstanding during the period. Net loss attributable to common stockholders consists of net loss, adjusted for the convertible preferred stock deemed dividend resulting from the 8% cumulative dividend on the Series A and Series B Preferred Stock (“Preferred Stock”) that were issued in 2016 and 2017 and the beneficial conversion feature recorded in connection with the conversion of the Preferred Stock. Since the Preferred Stock were converted on June 4, 2018 into common stock in connection with the Company’s IPO, there was no deemed dividend in the three months ended March 31, 2019. Basic and diluted net loss per common share are the same since the inclusion of common stock issuable pursuant to the exercise of warrants and options, plus the conversion of preferred stock or convertible notes, in the calculation of diluted net loss per common shares would have been anti-dilutive. The following table summarizes the number of potentially dilutive common stock equivalents excluded from the calculation of diluted net loss per common share as of March 31, 2019 and 2018: March 31, 2019 2018 Shares of common stock issuable upon conversion of preferred stock - 629,746 Shares of common stock issuable upon exercise of preferred stock warrants and the subsequent conversion of the preferred stock issued therewith - 50,285 Shares of common stock issuable upon the conversion of convertible debt - 470,666 Shares of common stock issuable upon exercise of warrants 4,003,679 633,761 Shares of common stock issuable upon exercise of options 1,182,624 1,422,000 Potentially dilutive common stock equivalents excluded from diluted net loss per share 5,186,303 3,206,458
Revenue Recognition	Revenue Recognition The Company recognizes revenue when goods or services are transferred to customers in an amount that reflects the consideration which it expects to receive in exchange for those goods or services. Revenue is recognized from contracts with customers either at a “point in time” or “over time”, depending on the facts and circumstances of the arrangement that the Company evaluates using the following five-step analysis: (i) identification of contract with customer; (ii) determination of performance obligations; (iii) measurement of the transaction price; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation. The following table lists the Company’s revenue recognized in the accompanying condensed statements of operations: For the Three Months Ended March 31, 2019 2018 Royalty income $ 31,243 $ 31,065 Royalty revenue, which is based on resales of ProCol Vascular Bioprosthesis to third-parties, will be recorded when the third-party sale occurs and the performance obligation has been satisfied. Information on Remaining Performance Obligations and Revenue Recognized from Past Performance Information about remaining performance obligations pertaining to contracts that have an original expected duration of one year or less is not disclosed. The transaction price allocated to remaining unsatisfied or partially unsatisfied performance obligations with an original expected duration exceeding one year was not material at March 31, 2019. Contract Balances The timing of our revenue recognition may differ from the timing of payment by our customers. A receivable is recorded when revenue is recognized prior to payment and the Company has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, deferred revenue is recorded until the performance obligations are satisfied. The Company had deferred revenue of $33,000 as of March 31, 2019 and December 31, 2018 related to cash received in advance for contract research and development services. The Company expects to satisfy its remaining performance obligations for contract research and development services and recognize the deferred revenue over the next twelve months.
Stock-Based Compensation	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. The fair value of the award is measured on the grant date and recognized over the period services are required to be provided in exchange for the award, usually the vesting period. Forfeitures of unvested stock options are recorded when they occur.
Concentrations	Concentrations The Company maintains cash with major financial institutions. Cash held in United States bank institutions is currently insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000 at each institution. There were aggregate uninsured cash balances of $3,312,566 as of March 31, 2019. For the three months ended March 31, 2019 and 2018, all of the Company’s revenues were from royalties as a result of the three-year Post-Acquisition Supply Agreement with LeMaitre Vascular, Inc. that was effective from March 18, 2016 to March 18, 2019.
Subsequent Events	Subsequent Events The Company evaluated events that have occurred after the balance sheet date through the date the financial statements were issued. Based upon the evaluation and transactions, the Company did not identify any other subsequent events that would have required adjustment or disclosure in the financial statements.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Potentially Dilutive Common Stock Equivalents	The following table summarizes the number of potentially dilutive common stock equivalents excluded from the calculation of diluted net loss per common share as of March 31, 2019 and 2018: March 31, 2019 2018 Shares of common stock issuable upon conversion of preferred stock - 629,746 Shares of common stock issuable upon exercise of preferred stock warrants and the subsequent conversion of the preferred stock issued therewith - 50,285 Shares of common stock issuable upon the conversion of convertible debt - 470,666 Shares of common stock issuable upon exercise of warrants 4,003,679 633,761 Shares of common stock issuable upon exercise of options 1,182,624 1,422,000 Potentially dilutive common stock equivalents excluded from diluted net loss per share 5,186,303 3,206,458
Schedule of Revenue Recognized	The following table lists the Company’s revenue recognized in the accompanying condensed statements of operations: For the Three Months Ended March 31, 2019 2018 Royalty income $ 31,243 $ 31,065

Cash, Cash Equivalents and Re_2

Cash, Cash Equivalents and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2019
Cash and Cash Equivalents [Abstract]
Reconciliation of Cash, Cash Equivalents and Restricted Cash	The following table provides a reconciliation of cash, cash equivalents and restricted cash reported in the balance sheets that sum to the total of the same amounts shown in the statement of cash flows. March 31, December 31, 2019 2018 Cash and cash equivalents $ 2,752,511 $ 2,740,645 Restricted cash 810,055 - Total cash, cash equivalents, and restricted cash in the balance sheet $ 3,562,566 $ 2,740,645

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	As of March 31, 2019 and December 31, 2018, property and equipment consist of the following: March 31, December 31, 2019 2018 Lab equipment $ 94,905 $ 94,905 Furniture and fixtures 93,417 93,417 Computer software and equipment 28,629 26,830 Leasehold improvements 158,092 158,092 Total property and equipment 375,043 373,244 Less: accumulated depreciation (350,156 ) (347,091 ) Property and equipment, net $ 24,887 $ 26,153

Right-of-Use Assets and Lease_2

Right-of-Use Assets and Lease Liability (Tables)	3 Months Ended
	Mar. 31, 2019
Right-of-use Assets And Lease Liabilities
Schedule of Operating Lease Cost	Our operating lease cost is as follows: For the Three Months Ended March 31, 2019 Operating lease cost $ 84,492
Schedule of Supplemental Cash Flow Information Related to Operating Lease	Supplemental cash flow information related to our operating lease is as follows: For the Three Months Ended March 31, 2019 Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 82,929
Schedule of Operating Remaining Lease Term and Discount Rate	Remaining lease term and discount rate for our operating lease is as follows: March 31, 2019 Remaining lease term 4 years Discount rate 8.5 %
Schedule of Maturity of Lease Liability	Maturity of our lease liabilities by fiscal year for our operating lease is as follows: Nine months ended December 31, 2019 $ 251,274 Year ended December 31, 2020 344,229 Year ended December 31, 2021 354,561 Year ended December 31, 2022 271,854 Total $ 1,221,918 Less: Imputed interest (166,355 ) Present value of our lease liability $ 1,055,563

Accrued Expenses and Accrued _2

Accrued Expenses and Accrued Interest - Related Party (Tables)	3 Months Ended
	Mar. 31, 2019
Payables and Accruals [Abstract]
Schedule of Accrued Expenses	As of March 31, 2019 and December 31, 2018, accrued expenses consist of the following: March 31, December 31, 2019 2018 Accrued compensation costs $ 274,035 $ 288,549 Accrued professional fees 118,138 55,300 Deferred rent - 22,473 Accrued franchise taxes 27,107 26,985 Accrued stock compensation expense 19,254 - Accrued research and development - 17,064 Other accrued expenses - 2,500 Accrued expenses $ 438,534 $ 412,871

Business Organization and Nat_2

Business Organization and Nature of Operations (Details Narrative)	Mar. 31, 2019ft²
Irvine, California [Member]
Area of land leased	14,507

Going Concern and Management'_2

Going Concern and Management's Liquidity Plan (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Net loss	$ 1,573,726	$ 4,747,487
Accumulated deficit	50,136,254		$ 48,562,528
Net cash used in operating activities	1,493,555	$ 1,625,419
Cash balance	2,752,511
Restricted cash	810,055
Working capital	$ 1,107,139

Significant Accounting Polici_4

Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Accounting Policies [Abstract]
Cumulative dividend percentage	8.00%
Deferred revenue	$ 33,000	$ 33,000
FDIC insured amount	250,000
Uninsured cash balance	$ 3,312,566

Significant Accounting Polici_5

Significant Accounting Policies - Summary of Potentially Dilutive Common Stock Equivalents (Details) - shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Potentially dilutive common stock equivalents excluded from diluted net loss per share	5,186,303	3,206,458
Convertible Preferred Stock [Member]
Potentially dilutive common stock equivalents excluded from diluted net loss per share		629,746
Preferred Stock Warrants [Member]
Potentially dilutive common stock equivalents excluded from diluted net loss per share		50,285
Convertible Debt [Member]
Potentially dilutive common stock equivalents excluded from diluted net loss per share		470,666
Warrants [Member]
Potentially dilutive common stock equivalents excluded from diluted net loss per share	4,003,679	633,761
Stock Options [Member]
Potentially dilutive common stock equivalents excluded from diluted net loss per share	1,182,624	1,422,000

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Revenue Recognized (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Accounting Policies [Abstract]
Royalty income	$ 31,243	$ 31,065

Cash, Cash Equivalents and Re_3

Cash, Cash Equivalents and Restricted Cash (Details Narrative) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Abstract]
Restricted cash	$ 810,055

Cash, Cash Equivalents and Re_4

Cash, Cash Equivalents and Restricted Cash - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Cash and Cash Equivalents [Abstract]
Cash and cash equivalents	$ 2,752,511	$ 2,740,645
Restricted cash	810,055
Total cash, cash equivalents, and restricted cash in the balance sheet	$ 3,562,566	$ 2,740,645

Property and Equipment (Details

Property and Equipment (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Depreciation and amortization expense	$ 3,065	$ 2,380

Property and Equipment - Schedu

Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Property and equipment	$ 375,043	$ 373,244
Less: accumulated depreciation	(350,156)	(347,091)
Property and equipment, net	24,887	26,153
Lab Equipment [Member]
Property and equipment	94,905	94,905
Furniture and Fixtures [Member]
Property and equipment	93,417	93,417
Computer Software and Equipment [Member]
Property and equipment	28,629	26,830
Leasehold Improvements [Member]
Property and equipment	$ 158,092	$ 158,092

Right-of-Use Assets and Lease_3

Right-of-Use Assets and Lease Liability (Details Narrative) - USD ($)	Jan. 02, 2019	Sep. 20, 2017	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Right-of-use Assets And Lease Liabilities
Operating lease term		5 years
Operating lease renewal term		60 months
Initial lease rate per month		$ 26,838
Operating expenses for building repairs and maintenance per month		$ 7,254
Right-of-use assets	$ 1,099,400		$ 1,030,527
Lease liabilities	1,121,873		$ 1,055,563
Deferred rent	$ 22,473			$ 22,473
Incremental borrowing rate used to determine lease liability	8.50%

Right-of-Use Assets and Lease_4

Right-of-Use Assets and Lease Liability - Schedule of Operating Lease Cost (Details)	3 Months Ended
	Mar. 31, 2019USD ($)
Right-of-use Assets And Lease Liabilities
Operating lease cost	$ 84,492

Right-of-Use Assets and Lease_5

Right-of-Use Assets and Lease Liability - Schedule of Supplemental Cash Flow Information Related to Operating Lease (Details)	3 Months Ended
	Mar. 31, 2019USD ($)
Right-of-use Assets And Lease Liabilities
Cash paid for amounts included in the measurement of lease liabilities	$ 82,929

Right-of-Use Assets and Lease_6

Right-of-Use Assets and Lease Liability - Schedule of Operating Remaining Lease Term and Discount Rate (Details)	Mar. 31, 2019
Right-of-use Assets And Lease Liabilities
Remaining lease term	4 years
Discount rate	8.50%

Right-of-Use Assets and Lease_7

Right-of-Use Assets and Lease Liability - Schedule of Maturity of Lease Liability (Details) - USD ($)	Mar. 31, 2019	Jan. 02, 2019
Right-of-use Assets And Lease Liabilities
Nine months ended December 31, 2019	$ 251,274
Year ended December 31, 2020	344,229
Year ended December 31, 2021	354,561
Year ended December 31, 2022	271,854
Total	1,221,918
Less: Imputed interest	(166,355)
Present value of our lease liability	$ 1,055,563	$ 1,121,873

Accrued Expenses and Accrued _3

Accrued Expenses and Accrued Interest - Related Party (Details Narrative) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Chief Financial Officer [Member]
Accrued severance expense	$ 92,308	$ 166,154

Accrued Expenses and Accrued _4

Accrued Expenses and Accrued Interest - Related Party - Schedule of Accrued Expenses (Details) - USD ($)	Jan. 02, 2019	Dec. 31, 2018	Mar. 31, 2018
Payables and Accruals [Abstract]
Accrued compensation costs		$ 288,549	$ 274,035
Accrued professional fees		55,300	118,138
Deferred rent	$ 22,473	22,473
Accrued franchise taxes		26,985	27,107
Accrued stock compensation expense			19,254
Accrued research and development		17,064
Other accrued expenses		2,500
Accrued expenses		$ 412,871	$ 438,534

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - USD ($)	Mar. 26, 2019	Jan. 18, 2019	Oct. 08, 2018	Sep. 25, 2018
ATSCO, Inc. [Member]
Payment on legal cost		$ 810,055		$ 809,520
Payment for legal settlements				$ 173,400
Number of common stock shares issued				120,000
Product liability contingency unasserted claims		500,000
Litigation interest and legal costs seeking payment	$ 1,606,820
ATSCO, Inc. [Member] | Cross-Complaint
Product liability contingency unasserted claims		$ 173,400
ATSCO, Inc. [Member] | Hancock Jaffe Laboratory Aesthetics, Inc [Member]
Ownership percentage				28.00%
Gusrae Kaplan Nusbaum PLLC [Member]
Litigation interest and legal costs seeking payment			$ 178,926

Stockholders' Equity (Deficie_2

Stockholders' Equity (Deficiency) (Details Narrative) - USD ($)	Mar. 12, 2019	Mar. 06, 2019	Feb. 07, 2019	Jan. 03, 2019	Mar. 31, 2019		Mar. 31, 2018
Gross proceeds raised in private placement offering	$ 2,704,000				$ 2,317,276	[1]		[1]
Aggregate number of shares sold in the offering	2,329,615
Purchase price of shares sold	$ 1.15
Placement agent's entitlement description	A warrant to purchase such number of shares of the Company's common stock equal to 8% of the total shares of common stock sold in the Offering or 188,108 shares
Stock-based compensation					82,720		$ 137,376
Unrecognized stock-based compensation expense					$ 680,246
Weighted average remaining vesting period					1 year 4 months 24 days
Chief Executive Officer [Member]
Aggregate number of shares sold in the offering	18,382
Purchase price of shares sold	$ 1.36
Non-Qualified Stock Options [Member] | H. Chris Sarner [Member]
Stock price			$ 1.59
Non-Qualified Stock Options [Member] | H. Chris Sarner [Member] | First Anniversary of Ms. Sarner's Employment [Member]
Number of options vested			50,000
Non-Qualified Stock Options [Member] | H. Chris Sarner [Member] | Quarterly Basis [Member]
Number of options vested			100,000
Non-Qualified Stock Options [Member] | H. Jorge Ulloa [Member]
Number of stock option grants			30,000
Exercise price of options granted			$ 1.59
Options term			1 year
Options grant date fair value			$ 0.58
Options aggregate grant date fair value			$ 17,400
Stock price			$ 1.59
Risk-free interest rate			2.47%
Volatility			36.10%
Annual rate of quarterly dividends			0.00%
Contractual term			5 years 3 months 19 days
Non-Qualified Stock Options [Member] | Dr. Peter Pappas [Member]
Number of stock option grants		20,000
Exercise price of options granted		$ 1.38
Options grant date fair value		$ 0.50
Options aggregate grant date fair value		$ 10,000
Stock price		$ 1.38
Risk-free interest rate		2.50%
Volatility		35.90%
Annual rate of quarterly dividends		0.00%
Contractual term		5 years 3 months 19 days
MZ Agreement [Member]
Received compensation per month, value			$ 8,000
MZ Agreement [Member] | Restricted Stock [Member]
Number of restricted shares vested			85,000
Alere Agreement [Member] | Alere Financial Partners [Member]
Warrants term				5 years
Monthly fee				$ 7,500
Number of warrants to purchase shares of common stock				35,000
Warrants exercise price				$ 1.59
Warrants vesting term				12 months
Alere Agreement [Member] | Placement Agent [Member]
Number of warrants to purchase shares of common stock				188,108
Warrants exercise price				$ 1.50
Employment Agreement [Member] | Non-Qualified Stock Options [Member] | H. Chris Sarner [Member]
Options aggregate grant date fair value			$ 87,000
Award Agreement [Member] | April 2019 [Member]
Number of units forfeited					29,183
[1]	Net of cash offering costs of $386,724