NextTrip (NTRP) 10-Q 15 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 15, 2017
Document and Entity Information:
Entity Registrant Name	SIGMA LABS, INC.
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Trading Symbol	sglb
Amendment Flag	false
Entity Central Index Key	788,611
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		4,570,199
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1

Condensed Balance Sheets(Unaudi

Condensed Balance Sheets(Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current Assets:
Cash	$ 4,633,046	$ 398,391
Accounts Receivable, net	157,354	288,236
Note Receivable, net	500,000	0
Inventory	200,973	187,241
Prepaid Assets	29,017	36,056
Total Current Assets	5,520,390	909,924
Other Assets:
Property and Equipment, net	558,310	564,933
Intangible Assets, net	237,365	226,450
Investment in Joint Venture	500	500
Prepaid Stock Compensation	165,208	167,562
Total Other Assets	961,383	959,445
TOTAL ASSETS	6,481,773	1,869,369
Current Liabilities:
Accounts Payable	280,020	112,175
Notes Payable, net of original issue discount $55,228	944,772	561,834
Accrued Expenses	161,781	125,116
Total Current Liabilities	1,386,573	799,125
Long-Term Liabilities
Derivative Liability	0	93,206
Total Long-Term Liability	0	93,206
TOTAL LIABILITIES	1,386,573	892,331
Stockholders' Equity
Preferred Stock, $0.001 par; 10,000,000 shares authorized; None issued and outstanding	0	0
Common Stock, $0.001 par; 7,500,000 shares authorized; 4,570,199 and 3,133,789 issued and outstanding at March 31, 2017 and 2016, respectively	4,570	3,135
Additional Paid-In Capital	15,795,550	10,734,857
Accumulated Deficit	(10,704,919)	(9,760,954)
Total Stockholders' Equity	5,095,201	977,038
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 6,481,773	$ 1,869,369

Balance Sheets Parentheticals

Balance Sheets Parentheticals - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Parentheticals
Net of original issue discount, Notes Payable	$ 55,228	$ 55,228
Preferred Stock, par value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value	$ 0.001	$ 0.001
Common Stock, shares authorized	7,500,000	7,500,000
Common Stock, shares issued	4,570,199	3,133,789
Common Stock, shares outstanding	4,570,199	3,133,789

Condensed Statements of Operati

Condensed Statements of Operations(Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Revenue
Revenues	$ 150,203	$ 358,455
COST OF REVENUE	74,534	107,581
GROSS PROFIT	75,669	250,874
EXPENSES:
Other General and Administration	643,795	395,488
Payroll Expense	376,621	215,589
Stock-Based Compensation	139,632	71,551
Research and Development	48,762	39,071
Total Expenses	1,208,810	721,699
OTHER INCOME (EXPENSE)
Interest Income	343	158
Other Income	152,068	0
Other Income-Decrease in fair value of derivative liabilities	93,206	0
Other Expense - Debt discount amortization	(56,441)	0
Total Other Income	189,176	158
LOSS BEFORE PROVISION FOR INCOME TAXES	(943,965)	(470,667)
Provision for income Taxes	0	0
Net Loss	$ (943,965)	$ (470,667)
Net Loss per Common Share - Basic and Diluted	$ (0.25)	$ (0.08)
Weighted Average Number of Shares Outstanding - Basic and Diluted	3,835,875	3,116,865

Condensed Statements of Cash Fl

Condensed Statements of Cash Flows(Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
OPERATING ACTIVITIES
Net Loss	$ (943,965)	$ (470,667)
Noncash Expenses:
Amortization	6,526	5,002
Depreciation	39,623	42,868
Stock Compensation	140,671	71,551
Revaluation of derivative liability and debt discount related to notes payable	(93,206)	0
Note payable original issue discount	24,658	0
Note payable debt discount amortization	56,441	0
Change in assets and liabilities:
Accounts Receivable	130,882	(101,087)
Inventory	(13,732)	(74,057)
Prepaid Assets	7,039	16,622
Accounts Payable	167,845	105,633
Accrued Expenses	36,665	11,107
NET CASH USED IN OPERATING ACTIVITIES	(440,553)	(393,028)
INVESTING ACTIVITIES
Purchase of Furniture and Equipment	(33,000)	(25,430)
Purchase of Intangible Assets	(17,441)	(34,988)
Notes receivable	(500,000)	0
NET CASH USED IN INVESTING ACTIVITIES	(550,441)	(60,418)
FINANCING ACTIVITIES
Proceeds from issuance of common stock and warrants	5,225,649	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	5,225,649	0
NET CASH DECREASE FOR PERIOD	4,234,655	(453,446)
CASH AT BEGINNING OF PERIOD	398,391	1,539,809
CASH AT END OF PERIOD	4,633,046	1,086,363
Cash paid during the period for:
Interest	20,114	0
Income Taxes	0	0
Supplemental Schedule of Noncash Investing and Financing Activities:
Issuance of Common Stock for services	$ 51,408	$ 0

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
Summary of Significant Accounting Policies:
Summary of Significant Accounting Policies	NOTE 1 – Summary of Significant Accounting Policies Nature of Business – B6 Sigma, Inc., incorporated February 5, 2010, was founded by a group of scientists, engineers and businessmen to develop and commercialize novel and unique manufacturing and materials technologies. The Company believes that some of these technologies will fundamentally redefine conventional quality assurance and process control practices by embedding them into the manufacturing processes in real time, enabling process intervention and ultimately leading to closed loop process control. The Company anticipates that its core technologies will allow its clientele to combine advanced manufacturing quality assurance and process control protocols with novel materials to achieve breakthrough product potential in many industries including aerospace, defense, oil and gas, bio-medical, and power generation. Basis of Presentation Reclassification Loss Per Share – Recently Enacted Accounting Standards Recent Accounting Standards Updates (“ASU”) through ASU No. 2015-01 contain technical corrections to existing guidance or affects guidance to specialized industries or situations. The Company has evaluated recently issued technical pronouncements and has determined that these updates have no current applicability to the Company or their effect on the financial statements would not have been significant. Accounting Estimates

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2017
Stockholders' Equity {1}
Stockholders' Equity	NOTE 2 – Stockholders’ Equity Common Stock Effective March 17, 2016, our Amended and Restated Articles of Incorporation were amended pursuant to a Certificate of Change Pursuant to Nevada Revised Statutes 78.209 (the “Certificate of Change”) filed with the Nevada Secretary of State. The Certificate of Change provided for both a reverse stock split of the outstanding shares of our common stock on a 1-for-100 basis (the “Reverse Stock Split”), and a corresponding decrease in the number of shares of our common stock that we are authorized to issue (the “Share Decrease”). As a result of the Reverse Stock Split, the number of issued and outstanding shares of our common stock on March 17, 2016 decreased from 622,969,835 pre-Reverse Stock Split shares to 6,229,710 post-Reverse Stock Split shares (after adjustment for any fractional shares). Pursuant to the Share Decrease, the number of authorized shares of our common stock decreased from 750,000,000 to 7,500,000 shares of common stock. All amounts shown for common stock included in these financial statements are presented post-Reverse Stock Split. On April 28, 2016, the Company’s Amended and Restated Articles of Incorporation were amended to increase the number of authorized shares of the Company’s common stock from 7,500,000 to 15,000,000 shares of common stock. Effective February 15, 2017, our Amended and Restated Articles of Incorporation were amended pursuant to a Certificate of Change Pursuant to Nevada Revised Statutes 78.209 (the “Certificate of Change”) filed with the Nevada Secretary of State. The Certificate of Change provided for both a reverse stock split of the outstanding shares of our common stock on a 1-for-2 basis (the “Reverse Stock Split”), and a corresponding decrease in the number of shares of our common stock that we are authorized to issue (the “Share Decrease”). As a result of the Reverse Stock Split, the number of issued and outstanding shares of our common stock on February 15, 2017 decreased from 6,307,577 pre-Reverse Stock Split shares to 3,153,801 post-Reverse Stock Split shares (after adjustment for any fractional shares). Pursuant to the Share Decrease, the number of authorized shares of our common stock decreased from 15,000,000 to 7,500,000 shares of common stock, $0.001 par value per share. As of March 31, 2017, the Company had 7,500,000 shares of authorized common stock, $0.001 par value per share. In January, 2017, the Company issued 20,000 shares of common stock to two directors in equal amounts of 10,000 shares each, valued at $1.72 per share, or $34,404. In February, 2017, the Company issued 5,232 shares of common stock to a director valued at $3.25 per share, or $17,004. On February 14, 2017, The NASDAQ Stock Market LLC informed the Company that it had approved the listing of the Company’s common stock The NASDAQ Capital Market, effective as of February 15, 2017. The Company’s common stock ceased trading on the OTCQB on February 15, 2017, and on such date the common stock commenced trading on The NASDAQ Capital Market under the ticker symbol “SGLB”. As of March 31, 2017 and 2016, there were 4,570,199 and 3,133,789 shares of common stock issued and outstanding, respectively. Preferred Stock The Company is authorized to issue 10,000,000 shares of preferred stock, $0.001 par value. No shares of preferred stock were issued and outstanding at March 31, 2017 and 2016. Stock Options During the quarter ended March 31, 2017, the Company granted a total of 123,750 options to an officer with an eighteen month vesting period. The weighted average period over which total the compensation cost of the options of $278,314 ($162,350 in 2017) will be recognized is 1.5 years. The weighted average exercise price of all outstanding options as of March 31, 2107 is $4.00 and the weighted average fair value of the options on the grant dates was $2.85. The estimated fair value of the options was determined using the Black-Scholes pricing model using the following assumptions: Expected term: 1.5 - 10 years Volatility: 67.3 – 139.5% Dividend yield: 0.00% Risk-free interest rate: .79 - 2.32% Warrants As of March 31, 2017, the Company had outstanding warrants to purchase a total of 80,000 shares of common stock at an exercise price of $4.13 per share. If not exercised, the warrants to purchase the 80,000 shares will expire on October 17, 2019. In addition, as of March 31, 2017, the Company had outstanding warrants to purchase a total of 1,621,500 shares of common stock at an exercise price of $4.00 per share. If not exercised, the warrants to purchase the 1,621,500 shares will expire on February 21, 2022. The 1,621,500 warrants trade on The NASDAQ Capital Market under the ticker symbol “SGLBW”. Unit Purchase Option On February 15, 2017, Sigma Labs, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with Dawson James Securities, Inc., as underwriter (the “Underwriter”) in connection with a public offering (the “Offering”) of the Company’s securities. Pursuant to the Underwriting Agreement, the Company has granted the Underwriter the right to purchase from the Company 70,500 Units at an exercise price equal to 125% of the public offering price of the Units in the Offering, or $5.1625 per Unit. The Unit Purchase Option has a term of five years and is not redeemable by us. A “Unit” is defined as of one share of the Company’s common stock, par value $0.001 per share and one warrant to purchase one share of the Company’s common stock, par value $0.001 per share, at an exercise price of $4.00 per share.

Note Receivable

Note Receivable	3 Months Ended
	Mar. 31, 2017
Note Receivable
Note Receivable	NOTE 3 – Note Receivable On March 27, 2017, the Company completed funding a loan in the principal amount of $500,000 to Morf3D, Inc., an Illinois corporation, pursuant to a Secured Convertible Promissory Note dated March 27, 2017 delivered by Morf3D to the Company. The loan bears interest at the rate of 7% per annum, is due and payable in full on March 27, 2018, is secured by certain assets of Morf3D, and is convertible at the Company’s option into 10% of the outstanding shares of the common stock of Morf3D unless Morf3D exercises its right under specified circumstances to repay all principal and accrued interest on the loan. The purpose of the loan is to provide working capital to Morf3D to, among other things, lease an EOS M 400 system for Morf3D for Morf3D to expand production for contracts related to AM of high-precision aerospace and defense components, in furtherance of our strategic alliance and in contemplation of a possible acquisition of or merger with Morf3D.

Notes Payable

Notes Payable	3 Months Ended
	Mar. 31, 2017
Notes Payable:
Notes Payable	NOTE 4 – Notes Payable Effective October 17, 2016, the Company entered into a Securities Purchase Agreement with two accredited investors (the “Investors”) for the private placement by the Company of Secured Convertible Notes in the aggregate principal amount of $1,000,000 (the “Notes”) and warrants (the “Warrants”) to purchase up to 80,000 shares (the “Warrant Shares”) of the Company’s common stock (“Common Stock”) (subject to adjustment in certain circumstances), for aggregate gross proceeds, before expenses, to the Company of $900,000 (the “Financing Transaction”). The Notes carry a one-time upfront interest charge of a total of $100,000, which is being expensed to interest expense monthly over the 1-year term of the Notes and correspondingly increases in the Notes Payable balance each period. As of March 31, 2017, the Notes Payable balance is $944,772. However, the effective Notes Payable balance is $1 million since that is the amount we would have to pay in order to payoff the note anytime between now and the maturity date of October 17, 2017, in addition to accrued interest and a 15% pre-payment penalty. The Notes carry an interest rate of 10% per annum, calculated on the basis of a 360-day year, based on the $1 million Notes Payable effective balance. Such interest is payable every three months in cash, or, at the holder’s option, in unrestricted shares of Common Stock, if a registration statement is then in effect for such shares of common stock. In connection with the Financing Transaction, the Company entered into a Registration Rights Agreement, dated October 17, 2016, with the Investors (the “Registration Rights Agreement”), pursuant to which the Company agreed to file a registration statement related to the Financing Transaction with the Securities and Exchange Commission (“SEC”) covering the resale of (i) the shares of Common Stock that will be issued to the Investors upon conversion of the Notes (the “Conversion Shares”), and (ii) the Warrant Shares that will be issued to the Investors upon exercise of the Warrants. The Notes are secured by the assets of the Company pursuant to a Security Agreement, dated October 17, 2016, between the Company and the “collateral agent” (as defined in the Notes) for the benefit of itself and each of the Investors. The Notes are convertible into shares of Common Stock at a conversion price equal to the lesser of (i) the final unit price of the Company’s proposed public offering initially filed with the SEC on July 28, 2016, and (ii) 150% of the closing price of the Common Stock as reported by the OTC Markets Group, Inc. on the date of issuance of the Notes (subject to adjustment as provided therein). As such, as of March 31, 2017, the conversion price of the Notes was $4.13, which is the final unit price of the Company’s public offering. Each Warrant has an exercise price equal to the lesser of (i) the final unit price of the Company’s proposed public offering initially filed with the SEC on July 28, 2016, and (ii) 150% of the closing price of the Common Stock as reported by the OTC Markets Group, Inc. on the date of issuance of the Warrants (subject to adjustment as provided therein), which Warrants may be exercised on a cashless basis as provided in the Warrants. As such, as of March 31, 2017, the exercise price of the Warrants was $4.13, which is the final unit price of the Company’s public offering.

Continuing Operations

Continuing Operations	3 Months Ended
	Mar. 31, 2017
Continuing Operations:
Continuing Operations	NOTE 5 - Continuing Operations The Company has sustained losses and has negative cash flows from operating activities since its inception. However, the Company has raised significant equity capital and is currently developing new product lines to increase future revenues. On February 21, 2017, the Company closed an underwritten public offering of equity securities resulting in net proceeds of approximately $5.25 million, after deducting underwriting discounts and commissions and other offering expenses payable by the Company. As such, the Company believes it has adequate working capital and cash to fund operations through 2017.

Loss Per Share

Loss Per Share	3 Months Ended
	Mar. 31, 2017
Loss Per Share
Loss Per Share	NOTE 6 – Loss Per Share The following data show the amounts used in computing loss per share and the weighted average number of shares of dilutive potential common stock for the periods ended March 31, 2017 and 2016: Three Months Ending March 31, 2017 March 31, 2016 Loss from continuing Operations available to Common stockholders (numerator) $ (943,965) $ (470,667) Weighted average number of common shares Outstanding used in loss per share during the Period (denominator) 3,835,875 3,116,865 Dilutive loss per share was not presented as the Company had no common equivalent shares for all periods presented that would affect the computation of diluted loss per share or its effect is anti-dilutive.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events
Subsequent Events	NOTE 7 – Subsequent Events On May 1, 2017, the Company completed funding a loan in the principal amount of $250,000 to Jaguar Precision Machine, LLC, a New Mexico limited liability company, pursuant to a Secured Convertible Promissory Note dated May 1, 2017 delivered by Jaguar to the Company. The loan bears interest at the rate of 7% per annum, is due and payable in full on May 1, 2018, is secured by certain assets of Jaguar, and is convertible at the Company’s option into 10% of the outstanding shares of the common stock of Jaguar unless Jaguar exercises its right under specified circumstances to repay all principal and accrued interest on the loan. The purpose of the loan is to provide working capital to Jaguar to, among other things, stand up a metallugical laboratory and become ASM9100 certified for contracts related to AM of high-precision aerospace and defense components, in furtherance of our strategic alliance. Sigma will receive from Jaguar priority for use of certain machines and services of Jaguar. On April 19, 2017, the Company granted a stock option to an officer to purchase up to of 20,000 shares of common stock, at an exercise price equal to $3.27 per share, which was the closing market price of our common stock on April 19, 2017 (i.e., the date of grant), which option is subject to vesting over a12 month vesting period.

Accounting Policies (Policies)

Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2017
Accounting Policies:
Nature of Business, Policy	Nature of Business – B6 Sigma, Inc., incorporated February 5, 2010, was founded by a group of scientists, engineers and businessmen to develop and commercialize novel and unique manufacturing and materials technologies. The Company believes that some of these technologies will fundamentally redefine conventional quality assurance and process control practices by embedding them into the manufacturing processes in real time, enabling process intervention and ultimately leading to closed loop process control. The Company anticipates that its core technologies will allow its clientele to combine advanced manufacturing quality assurance and process control protocols with novel materials to achieve breakthrough product potential in many industries including aerospace, defense, oil and gas, bio-medical, and power generation.
Basis of Presentation, Policy	Basis of Presentation
Reclassification, Policy	Reclassification
Loss Per Share , Policy	Loss Per Share –
Recently Enacted Accounting Standards , Policy	Recently Enacted Accounting Standards Recent Accounting Standards Updates (“ASU”) through ASU No. 2015-01 contain technical corrections to existing guidance or affects guidance to specialized industries or situations. The Company has evaluated recently issued technical pronouncements and has determined that these updates have no current applicability to the Company or their effect on the financial statements would not have been significant.
Accounting Estimates	Accounting Estimates

Schedule of Stock Options (Tabl

Schedule of Stock Options (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of Stock Options (Tables):
Schedule of Stock Options (Tables)	The estimated fair value of the options was determined using the Black-Scholes pricing model using the following assumptions: Expected term: 1.5 - 10 years Volatility: 67.3 – 139.5% Dividend yield: 0.00% Risk-free interest rate: .79 - 2.32%

Schedule of Loss Per Share (Tab

Schedule of Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Schedule of Loss Per Share (Tables):
Schedule of Loss Per Share (Tables)	The following data show the amounts used in computing loss per share and the weighted average number of shares of dilutive potential common stock for the periods ended March 31, 2017 and 2016: Three Months Ending March 31, 2017 March 31, 2016 Loss from continuing Operations available to Common stockholders (numerator) $ (943,965) $ (470,667) Weighted average number of common shares Outstanding used in loss per share during the Period (denominator) 3,835,875 3,116,865

Summary of Significant Accoun16

Summary of Significant Accounting Policies (Details Textual)	Sep. 13, 2010$ / shares
Summary Of Significant Accounting Policies Details
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	100.00%
Number Of Shares Exchanged For Each Share Of Acquired Entity	$ 6.67

Equity (Details Textual)

Equity (Details Textual) - USD ($)	Mar. 31, 2017	Feb. 28, 2017	Feb. 15, 2017	Jan. 31, 2017	Apr. 28, 2016	Mar. 31, 2016	Mar. 17, 2016
Equity Details
Number of issued and outstanding shares of our common stock decreased							622,969,835
Reverse Stock Split shares							6,229,710
Number of authorized shares of our common stock decreased from 750,000,000 to							7,500,000
Increase the number of authorized shares of the common stock from 7,500,000 to					15,000,000
Number of issued and outstanding shares of our common stock decreased			6,307,577
Pre-Reverse Stock Split shares			3,153,801
Number of authorized shares of our common stock decreased from 15,000,000 to			7,500,000
Number of authorized shares of our common stock decreased par value per share			$ 0.001
Company had shares of authorized common stock			7,500,000
Company had shares of authorized common stock par value per share			$ 0.001
Company issued shares of common stock to two directors				20,000
Company issued shares of common stock to two directors valued at per share				$ 1.72
Company issued shares of common stock to two directors amounts				$ 34,404
Company issued shares of common stock to a director		5,232
Company issued shares of common stock to a director valued at		$ 17,004
Company issued shares of common stock to a director valued at per share		$ 3.25
Shares of common stock issued and outstanding	4,570,199					3,133,789
Preferred Stock
Company is authorized to issue shares of preferred stock	10,000,000					10,000,000
Company is authorized to issue shares of preferred stock par value per share	$ 0.001					$ 0.001

Stock Options (Details)

Stock Options (Details)	Mar. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)
Stock Options Details
Company granted a total of options | shares	123,750
Total compensation cost of the options | $	$ 162,350	$ 278,314
Total compensation cost of the options will be recognized in years	1.50
Weighted average exercise price of the options	$ 4
Weighted average fair value of the options on the dates of grant	$ 2.85

Stock Options Valuation Assumpt

Stock Options Valuation Assumptions (Details)	Mar. 31, 2017	Dec. 31, 2016
Stock Options Valuation Assumptions Details
Expected term (in years) Minimum	1.5	1.5
Expected term (in years) Maximum	10	10
Volatility, Minimum	67.30%	67.30%
Volatility, Maximum	139.50%	139.50%
Dividend yield	0.00%	0.00%
Risk-free interest rate, Minimum	0.79%	0.79%
Risk-free interest rate, Maximum	2.32%	2.32%

Warrants (Details)

Warrants (Details)	Mar. 31, 2017$ / sharesshares
Warrants Details
Warrant to purchase shares of common stock | shares	80,000
Warrant to purchase shares of common stock at an exercise price per share | $ / shares	$ 4.13
Warrant to purchase shares of common stock | shares	1,621,500
Warrant to purchase shares of common stock at an exercise price per share | $ / shares	$ 4

Unit Purchase Option (Details)

Unit Purchase Option (Details)	Feb. 15, 2017$ / shares
Unit Purchase Option Details
Company has granted the Underwriter the right to purchase from the Company Units	70,500
Company has granted the Underwriter the right to purchase from the Company Units at an exercise price equal to	125.00%
Company has granted the Underwriter the right to purchase from the Company Units per Unit	5.1625
A "Unit" is defined as of one share of the Company's common stock, par value per share	$ 0.001
One warrant to purchase one share of the Company's common stock, par value per share	0.001
One warrant to purchase one share of the Company's common stock at an exercise price of per share.	$ 4

Note Receivable (Details)

Note Receivable (Details)	Mar. 27, 2017USD ($)
Note Receivable Details
Company completed funding a loan in the principal amount	$ 500,000
Loan bears interest at the rate of per annum	7.00%

Notes Payable (Details)

Notes Payable (Details) - USD ($)	Mar. 31, 2017	Oct. 17, 2016
Notes Payable Details
Secured Convertible Notes in the aggregate principal amount		$ 1,000,000
Warrants to purchase shares of the Company's common stock		80,000
Aggregate gross proceeds before expenses to the Company		$ 900,000
Notes carry a one-time upfront interest charge		$ 100,000
Notes Payable balance	$ 944,772
Notes carry an interest rate per annum	10.00%
Conversion price of the Notes	$ 4.13
Conversion price of the Notes of the closing price of the Common Stock	150.00%
Exercise price of the Warrants	$ 4.13

Continuing Operations (Details)

Continuing Operations (Details)	Feb. 21, 2017USD ($)
Continuing Operations Details
Company closed an underwritten public offering of equity securities resulting in net proceeds	$ 52,500,000

Loss Per Share (Details)

Loss Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Loss Per Share Details
Loss from continuing Operations available to Common stockholders (numerator)	$ (943,965)	$ (470,667)
Weighted average number of common shares Outstanding used in loss per share during the Period (denominator)	3,835,875	3,116,865

Subsequent Events (Details Text

Subsequent Events (Details Textual) - USD ($)	May 01, 2017	Apr. 19, 2017
Subsequent Event Details
Company completed funding a loan in the principal amount	$ 250,000
Company granted a stock option to an officer to purchase shares of common stock		20,000
Company granted a stock option to an officer to purchase shares of common stock at an exercise price per share		$ 3.27