Co-Diagnostics (CODX) 10-Q 14 May 18 2018 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2018	May 06, 2018
Document And Entity Information
Entity Registrant Name	Co-Diagnostics, Inc.
Entity Central Index Key	1,692,415
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		12,326,409
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2,018

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2018	Dec. 31, 2017
Current Assets
Cash and cash equivalents	$ 2,541,242	$ 3,534,454
Other receivables	23,821
Inventory		9,068
Prepaid expenses	579,651	908,352
Total current assets	3,144,714	4,451,874
Property and equipment, net	162,852	165,567
Investment in joint venture	19,522	44,885
Total other long-term assets	182,374	210,452
Total assets	3,327,088	4,662,326
Current Liabilities
Accounts payable	35,742	40,819
Accrued expenses	91,413	96,645
Accrued expenses (related party)	120,000	120,000
Deferred income-current	39,184	10,792
Total current liabilities	286,339	268,256
Long-term Liabilities, net of current portion
Accrued expenses-long-term (related party)	330,000	360,000
Deferred income-long-term	145,458	183,546
Total long-term liabilities	475,458	543,546
Total liabilities	761,797	811,802
Commitments and contingencies
STOCKHOLDERS’ EQUITY (DEFICIT):
Common stock, $.001 par value, 180,000,000 shares authorized; 12,326,409 and 12,317,184 shares issued and outstanding, respectively.	12,326	12,317
Additional paid-in capital	16,285,642	16,260,651
Accumulated deficit	(13,732,677)	(12,422,444)
Total stockholders’ equity	2,565,291	3,850,524
Total liabilities and stockholders’ equity	$ 3,327,088	$ 4,662,326

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common stock, par value	$ .001	$ .001
Common stock, shares authorized	180,000,000	180,000,000
Common stock, shares issued	12,326,409	12,317,184
Common stock, shares outstanding	12,326,409	12,317,184

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Revenues	$ 9,696
Cost of sales
Gross profit	9,696
Operating expenses:
Selling and marketing	95,263	64,217
General and administrative	882,046	225,734
Research and development	297,415	265,688
Depreciation and amortization	12,403	9,726
Total operating expenses	1,287,127	564,365
Loss from operations	(1,277,431)	(564,365)
Other income (expense):
Interest expense		(141,377)
Interest income	7,561
Loss on investment in joint venture	(40,363)
Total other income (expense)	(32,802)	(141,377)
Loss before income taxes	(1,310,233)	(705,742)
Provision for income taxes
Net loss	$ (1,310,233)	$ (705,742)
Net loss per share – basic and diluted	$ (0.11)	$ (0.07)
Weighted average shares - basic and diluted	12,319,030	9,882,395

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net loss	$ (1,310,233)	$ (705,742)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	12,403	9,726
Stock based compensation	25,000	6,198
Accretion of notes payable discount		41,912
Other losses	40,363
Changes in assets and liabilities:
Decrease in deferred income	(9,696)
Decrease in prepaid and other assets	304,880	38,322
Decrease in inventory	9,068
Increase (decrease) in accounts payable and accrued expenses	(40,309)	189,848
Net cash used in operating activities	(968,524)	(419,736)
Cash flows from investing activities:
Purchase of property and equipment	(9,688)	(41,046)
Investment in joint venture	(15,000)
Net cash used by investing activities	(24,688)	(41,046)
Cash flows from financing activities:
Principal payments on debt (related party)		(41,500)
Net cash used by financing activities		(41,500)
Net decrease in cash	(993,212)	(502,282)
Cash and cash equivalents beginning of period	3,534,454	998,737
Cash and cash equivalents end of period	2,541,242	496,455
Supplemental disclosure of cash flow information:
Interest paid
Income taxes paid

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Basis of Presentation	Note 1 - Basis of Presentation The accompanying unaudited financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q as they are prescribed for smaller reporting companies. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. Operating results for the three-month period ended March 31, 2018 are not necessarily indicative of the results that may be expected for the year ending December 31, 2018. These statements should be read in conjunction with the Company’s audited financial statements and related notes for the year ended December 31, 2017, included in the Company’s Form 10K Annual Report filed on March 28, 2018. Certain 2017 financial statement amounts have been reclassified to conform to 2018 presentations. Description of Business Co-Diagnostics, Inc. (“Company,” “CDI,”), a Utah corporation headquartered in Salt Lake City, Utah, is a molecular diagnostics company formed in April 2013, that develops, manufactures and markets a new, state-of-the-art diagnostics technology. CDI’s diagnostics systems enable very rapid, low-cost, sophisticated molecular testing for organisms and genetic diseases by greatly automating historically complex procedures in both the development and administration of tests. CDI’s newest technical advance involves a novel approach to PCR primer design (cooperative primers) that eliminates one of the key vexing issues of PCR amplification, the exponential growth of primer-dimer pairs which adversely interferes with identification of the target DNA. In addition CDI scientists have enhanced the understanding of the mathematics of DNA test design, so as to “engineer” a DNA test and automate algorithms to screen millions of possible designs to find the optimum DNA test design. CDI’s proprietary platform of Co-Dx™ Co-Diagnostics’ CoDx™ mathematics revolutionary leap forward CoDx™ fraction of the cost designed for a new generation anywhere in the world Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the FASB that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption. The Company, an emerging growth company (“EGC”), has elected to take advantage of the benefits of the extended transition period provided for in Section 7(a)(2)(B) of the Securities Act, for complying with new or revised accounting standards which allows the Company to defer adoption of certain accounting standards until those standards would otherwise apply to private companies. In March 2017, the FASB issued Accounting Standards Update (“ASU”) No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20). The amendments in this update shorten the amortization period for certain callable debt securities held at a premium. Specifically, the amendments require the premium to be amortized to the earliest call date. The amendments do not require an accounting change for securities held at a discount; the discount continues to be amortized to maturity. For public business entities, the amendments in this update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, for public EGC companies like us. This update is not expected to have a significant impact on the Company’s financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments, to clarify guidance on the presentation and classification of certain cash receipts and payments in the statement of cash flows. This update was issued with the intent of reducing diversity in practice with respect to eight types of cash flows. This guidance is effective for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years, for public EGC companies like us. The update is not expected to have a significant impact on the Company’s financial statements. In February 2016, the FASB issued ASU No. 2016-02 Leases (Topic 842), which requires recognition of leased assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. This update is effective for annual periods and interim periods with those periods beginning after December 15, 2019, for public EGC companies like us. Management is currently evaluating the impact that the updated standard will have on its consolidated financial statements and related disclosures. In May 2014, the FASB issued ASU No. 2014-09: “Revenue from Contracts with Customers (Topic 606)” which supersedes the revenue recognition requirements in ASC Topic 605, “Revenue Recognition”, and requires entities to recognize revenue in a way that depicts the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additional revenue recognition updates were also issued in 2016 and 2017, which further clarified certain aspects of the new revenue recognition guidance. The new authoritative guidance is effective for interim and annual periods beginning after December 15, 2018, for public EGC companies like us. The guidance permits two methods of adoption: retrospectively to each prior reporting period presented (the full retrospective method), or retrospectively with the cumulative effect of initially applying the guidance recognized at the date of initial application (the modified retrospective method). The Company is in the process of determining the method of adoption, but the update is not expected to have a significant impact on the Company’s financial statements since the Company’s revenue is currently immaterial.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Significant Accounting Policies	Note 2 - Significant Accounting Policies Earnings (Loss) per Share Basic earnings or loss per common share is computed by dividing net income or loss applicable to common shareholders by the weighted average number of shares outstanding during each period. As the Company experienced net losses during the three months ending March 31, 2018, and 2017, respectively, no common stock equivalents have been included in the diluted earnings per common share calculations as the effect of such common stock equivalents would be anti-dilutive. As of March 31, 2018, and 2017, there were 1,028,969 and 2,675,350 potentially dilutive shares, respectively.

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Notes Payable	Note 3 – Notes Payable At March 31, 2018, and December 31, 2017 we had no outstanding notes payable. However, at March 31, 2017, we had an aggregate of $3,394,484 of current notes payable. For the three months ended March 31, 2017 we included $141,377 of interest expense.

Stock-based Compensation

Stock-based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-based Compensation	Note 4 – Stock-based Compensation Stock Incentive Plans The Co-Diagnostics, Inc 2015 Long-term Incentive Plan reserves an aggregate of 6,000,000 shares. The number of unissued stock options authorized under the 2015 Plan at March 31, 2018 was 5,677,293. Stock Options There were no options granted in both the three months ended March 31, 2017 and 2018. For the three months ended March 31, 2018, there was no stock-based compensation expense related to granted and unexercised stock options. For the three months ended March 31, 2017, the Company recognized $6,198 of stock-based compensation expense, related to stock options, recorded in our general and administrative department for options vesting which were granted prior to January 1, 2017. The following table summarizes option activity during the three months and year ended March 31, 2018 and December 31, 2017, respectively. Options Outstanding Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Life (years) Outstanding at January 1, 2017 261,372 $ 0.55 $ 0.49 8.63 Options granted 63,335 3.85 1.59 4.60 Expired — — — — Forfeited options — — — — Exercised — — — — Outstanding at December 31, 2017 322,707 $ 1.29 $ 0.70 7.05 Options granted — — — — Expired — — — — Forfeited options — — — — Exercised — — — — Outstanding at March 31, 2018 322,707 $ 1.29 $ 0.70 6.80 Warrants The following table summarizes warrant activity during the three months and year ended March 31, 2018 and December 31, 2017, respectively. Warrants Outstanding Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Life (years) Outstanding at January 1, 2017 111,129 8.25 0.11 4.91 Warrants issued 595,133 2.91 1.74 4.28 Expired — — — — Forfeited warrants — — — — Exercised — — — — Outstanding at December 31, 2017 706,262 $ 3.27 $ 1.48 4.22 Warrants issued — — — — Expired — — — — Forfeited warrants — — — — Exercised — — — — Outstanding at March 31, 2018 706,262 $ 3.27 $ 1.48 3.97 The following table summarizes information about stock options and warrants outstanding at March 31, 2018. Outstanding Exercisable Weighted Average Remaining Weighted Average Weighted Average Range of Exercise Prices Number Outstanding Contractual Life (years) Exercise Price Number Exercisable Exercise Price $ 0.11-0.55 534,099 5.72 $ 0.33 534,099 $ 0.33 2.00-3.85 86,355 4.38 3.31 86,335 3.31 5.10-7.20 408,535 3.83 5.46 408,535 5.46 $ 0.11-7.20 1,028,969 4.86 $ 2.61 1,028,969 $ 2.72

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Note 5 – Related Party Transactions The Company acquired the exclusive rights to the Co-Primer technology pursuant to a license agreement dated April 2014, between us and DNA Logix, Inc., which was assigned to Dr. Satterfield prior to our acquisition of DNA Logix, Inc. On March 1, 2017, the Company entered into an amendment to its Exclusive License Agreement for its Cooperative Primers (“License”) technology with Dr. Satterfield, a member of our Board of Directors. The amendment provides in part that all accrued royalties under the License cease as of January 1, 2017, and we began in January to pay $700,000 of accrued royalties at the rate of $10,000 per month. For the three months ended March 31, 2017, the Company included $107,500 as an expense for this license agreement in research and development. At March 31, 2018 the aggregate balance of this liability was $450,000. Prior to July 12, 2017 the Company financed operations partly through short-term loans with related parties and through the deferral of payment to related parties for expenses incurred. At December 31, 2017, the Company accrued $480,000 in expenses for technology royalties payable to Dr. Satterfield.

Lease Obligations

Lease Obligations	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Lease Obligations	Note 6 – Lease Obligations Our offices are located at 2401 S Foothill Dr. Suite D Salt Lake City Utah 84109-1479. The space consists of approximately 7,015 square feet and is leased under a multi-year contract at a rate of $11,109 per month expiring on January 31, 2020. For the three months ended March 31, 2018 and 2017, the Company expensed $37,897 and $15,125, respectively for rent. The Company’s lease rent obligation is as follows: Year Amount 2018 $ 133,308 2019 133,308 2020 11,109 Total $ 277,725

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	Note 7 – Subsequent Events. The Company evaluated subsequent events pursuant to ASC Topic 855 and has determined that there are no additional events that need to be reported.

Significant Accounting Polici13

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Earnings (Loss) per Share	Earnings (Loss) per Share Basic earnings or loss per common share is computed by dividing net income or loss applicable to common shareholders by the weighted average number of shares outstanding during each period. As the Company experienced net losses during the three months ending March 31, 2018, and 2017, respectively, no common stock equivalents have been included in the diluted earnings per common share calculations as the effect of such common stock equivalents would be anti-dilutive. As of March 31, 2018, and 2017, there were 1,028,969 and 2,675,350 potentially dilutive shares, respectively.

Stock-based Compensation (Table

Stock-based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of Option Activity	The following table summarizes option activity during the three months and year ended March 31, 2018 and December 31, 2017, respectively. Options Outstanding Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Life (years) Outstanding at January 1, 2017 261,372 $ 0.55 $ 0.49 8.63 Options granted 63,335 3.85 1.59 4.60 Expired — — — — Forfeited options — — — — Exercised — — — — Outstanding at December 31, 2017 322,707 $ 1.29 $ 0.70 7.05 Options granted — — — — Expired — — — — Forfeited options — — — — Exercised — — — — Outstanding at March 31, 2018 322,707 $ 1.29 $ 0.70 6.80
Summary of Warrant Activity	The following table summarizes warrant activity during the three months and year ended March 31, 2018 and December 31, 2017, respectively. Warrants Outstanding Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Life (years) Outstanding at January 1, 2017 111,129 8.25 0.11 4.91 Warrants issued 595,133 2.91 1.74 4.28 Expired — — — — Forfeited warrants — — — — Exercised — — — — Outstanding at December 31, 2017 706,262 $ 3.27 $ 1.48 4.22 Warrants issued — — — — Expired — — — — Forfeited warrants — — — — Exercised — — — — Outstanding at March 31, 2018 706,262 $ 3.27 $ 1.48 3.97
Summary of Stock Option and Warrant Outstanding	The following table summarizes information about stock options and warrants outstanding at March 31, 2018. Outstanding Exercisable Weighted Average Remaining Weighted Average Weighted Average Range of Exercise Prices Number Outstanding Contractual Life (years) Exercise Price Number Exercisable Exercise Price $ 0.11-0.55 534,099 5.72 $ 0.33 534,099 $ 0.33 2.00-3.85 86,355 4.38 3.31 86,335 3.31 5.10-7.20 408,535 3.83 5.46 408,535 5.46 $ 0.11-7.20 1,028,969 4.86 $ 2.61 1,028,969 $ 2.72

Lease Obligations (Tables)

Lease Obligations (Tables)	3 Months Ended
	Mar. 31, 2018
Insurance [Abstract]
Schedule of Lease Rent Obligations	The Company’s lease rent obligation is as follows: Year Amount 2018 $ 133,308 2019 133,308 2020 11,109 Total $ 277,725

Significant Accounting Polici16

Significant Accounting Policies (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Accounting Policies [Abstract]
Diluted earnings per common share	1,028,969	2,675,350

Notes Payable (Details Narrativ

Notes Payable (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Notes payable
Notes payable current	3,394,484
Interest expense	$ 141,377

Stock-based Compensation (Detai

Stock-based Compensation (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Options granted issued shares			63,335
Stock-based compensation expense related to granted
General and Administrative Expense [Member]
Stock-based compensation expense related to granted		$ 6,198
2015 Long-term Incentive Plan [Member]
Aggregate number of common shares reserved	6,000,000
Unissued common stock authorized shares	5,677,293

Stock-based Compensation - Summ

Stock-based Compensation - Summary of Option Activity (Details) - $ / shares	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Options Outstanding, Beginning	322,707	261,372	261,372
Options Outstanding granted			63,335
Options Outstanding Expired
Options Outstanding Forfeited options
Options Outstanding Exercised
Options Outstanding Ending	322,707		322,707
Weighted Average Exercise Price Outstanding, Beginning	$ 1.29	$ 0.55	$ 0.55
Weighted Average Exercise Price Options granted			3.85
Weighted Average Exercise Price Expired
Weighted Average Exercise Price Forfeited options
Weighted Average Exercise Price Exercised
Weighted Average Exercise Price Outstanding, Ending	1.29		1.29
Weighted Average Fair Value Outstanding, Beginning	0.70	$ 0.49	0.49
Weighted Average Fair Value Options granted			1.59
Weighted Average Fair Value Expired
Weighted Average Fair Value Forfeited options
Weighted Average Fair Value Exercised
Weighted Average Fair Value Outstanding, Ending	$ 0.70		$ 0.70
Weighted-average Remaining Contractual Life Outstanding, Beginning	7 years 18 days		8 years 7 months 17 days
Weighted-average Remaining Contractual Life Options granted	0 years		4 years 7 months 6 days
Weighted-average Remaining Contractual Life Outstanding, Ending	6 years 9 months 18 days		7 years 18 days

Stock-based Compensation - Su20

Stock-based Compensation - Summary of Warrant Activity (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Warrant Outstanding, Beginning	706,262	111,129
Warrant Outstanding, Warrants issued		595,133
Warrant Outstanding, Expired
Warrant Outstanding, Forfeited warrants
Warrant Outstanding, Exercised
Warrant Outstanding, Ending	706,262	706,262
Weighted Average Exercise Price, Beginning	$ 3.27	$ 8.25
Weighted Average Exercise Price, Warrant issued		2.91
Weighted Average Exercise Price, Expired
Weighted Average Exercise Price, Forfeited warrants
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Ending	3.27	3.27
Weighted Average Fair Value, Beginning	1.48	0.11
Weighted Average Fair Value, Warrant issued		1.74
Weighted Average Fair Value, Expired
Weighted Average Fair Value, Forfeited warrants
Weighted Average Fair Value, Exercised
Weighted Average Fair Value, Ending	$ 1.48	$ 1.48
Weighted-average Remaining Contractual Life (Years), Beginning	4 years 2 months 19 days	4 years 10 months 28 days
Weighted-average Remaining Contractual Life (Years), Warrants issued	0 years	4 years 3 months 11 days
Weighted-average Remaining Contractual Life (Years), Ending	3 years 11 months 19 days	4 years 2 months 19 days

Stock-based Compensation - Su21

Stock-based Compensation - Summary of Stock Option and Warrant Outstanding (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Number outstanding	706,262	706,262	111,129
Weighted average remaining contractual life	0 years	4 years 7 months 6 days
Number exercisable
Weighted average exercise price exercisable
Exercise Price 0.11-0.55 [Member]
Number outstanding	534,099
Weighted average remaining contractual life	5 years 8 months 19 days
Weighted average exercise price	$ 0.33
Number exercisable	534,099
Weighted average exercise price exercisable	$ 0.33
Exercise Price 2.00-3.85 [Member]
Number outstanding	86,355
Weighted average remaining contractual life	4 years 4 months 17 days
Weighted average exercise price	$ 3.31
Number exercisable	86,335
Weighted average exercise price exercisable	$ 3.31
Exercise Price 5.10-7.20 [Member]
Number outstanding	408,535
Weighted average remaining contractual life	3 years 9 months 29 days
Weighted average exercise price	$ 5.46
Number exercisable	408,535
Weighted average exercise price exercisable	$ 5.46
Exercise Price 0.11-7.20 [Member]
Number outstanding	1,028,969
Weighted average remaining contractual life	4 years 10 months 10 days
Weighted average exercise price	$ 2.61
Number exercisable	1,028,969
Weighted average exercise price exercisable	$ 2.72
Minimum [Member] | Exercise Price 0.11-0.55 [Member]
Exercise Prices	0.11
Minimum [Member] | Exercise Price 2.00-3.85 [Member]
Exercise Prices	2
Minimum [Member] | Exercise Price 5.10-7.20 [Member]
Exercise Prices	5.10
Minimum [Member] | Exercise Price 0.11-7.20 [Member]
Exercise Prices	0.11
Maximum [Member] | Exercise Price 0.11-0.55 [Member]
Exercise Prices	0.55
Maximum [Member] | Exercise Price 2.00-3.85 [Member]
Exercise Prices	3.85
Maximum [Member] | Exercise Price 5.10-7.20 [Member]
Exercise Prices	7.20
Maximum [Member] | Exercise Price 0.11-7.20 [Member]
Exercise Prices	$ 7.20

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - USD ($)	Mar. 01, 2017	Mar. 31, 2017	Dec. 31, 2017	Mar. 31, 2018
Due to related Party				$ 450,000
Dr. Satterfield [Member]
Royalty payments, per month			$ 480,000
Exclusive License Agreement [Member]
Accrued royalties	$ 700,000
Royalty payments, per month	$ 10,000
Research and development expense		$ 107,500

Lease Obligations (Details Narr

Lease Obligations (Details Narrative)	3 Months Ended
	Mar. 31, 2018USD ($)a	Mar. 31, 2017USD ($)
Insurance [Abstract]
Area of land | a	7,015
Contract lease per month	$ 11,109
Lease expiration date	Jan. 31, 2020
Rent expenses	$ 37,897	$ 15,125

Lease Obligations - Schedule of

Lease Obligations - Schedule of Lease Rent Obligations (Details)	Mar. 31, 2018USD ($)
Insurance [Abstract]
2,018	$ 133,308
2,019	133,308
2,020	11,109
Total	$ 277,725