Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 01, 2017 | |
Document Information [Line Items] | ||
Entity Registrant Name | NAVIDEA BIOPHARMACEUTICALS, INC. | |
Entity Central Index Key | 810,509 | |
Trading Symbol | navb | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 162,206,646 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Document Fiscal Year Focus | 2,017 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Current assets: | ||
Cash | $ 5,634,102 | $ 1,539,325 |
Restricted cash | 5,001,253 | |
Available-for-sale securities | 1,998,972 | |
Accounts and other receivables | 8,377,608 | 203,016 |
Inventory, net | 96,208 | |
Prepaid expenses and other | 803,384 | 842,220 |
Assets associated with discontinued operations, current | 3,144,247 | |
Total current assets | 16,814,066 | 10,826,269 |
Property and equipment | 1,689,095 | 3,232,372 |
Less accumulated depreciation and amortization | 1,356,130 | 2,051,787 |
Property and equipment, net | 332,965 | 1,180,585 |
Patents, trademarks and license agreements | 480,404 | 146,685 |
Less accumulated amortization | 7,416 | |
Patents, trademarks and license agreements, net | 472,988 | 146,685 |
Guaranteed earnout receivable | 8,066,868 | |
Other assets | 215,328 | 202,882 |
Assets associated with discontinued operations | 105,255 | |
Total assets | 25,902,215 | 12,461,676 |
Current liabilities: | ||
Accounts payable | 1,604,927 | 5,165,385 |
Accrued liabilities and other | 4,011,165 | 7,872,893 |
Notes payable, current | 1,997,640 | 51,957,913 |
Terminated lease liability, current | 226,096 | |
Liabilities associated with discontinued operations, current | 55,059 | 4,865,597 |
Total current liabilities | 7,894,887 | 69,861,788 |
Notes payable | 9,641,179 | |
Terminated lease liability | 588,909 | |
Other liabilities | 77,008 | 624,922 |
Total liabilities | 8,560,804 | 80,127,889 |
Commitments and contingencies (Note 12) | ||
Stockholders’ equity (deficit): | ||
Preferred stock; $.001 par value; 5,000,000 shares authorized; no shares issued or outstanding at June 30, 2017 and December 31, 2016 | ||
Common stock; $.001 par value; 300,000,000 shares authorized; 162,206,646 and 155,762,729 shares issued and outstanding at June 30, 2017 and December 31, 2016, respectively | 162,207 | 155,763 |
Additional paid-in capital | 330,972,862 | 326,564,148 |
Accumulated deficit | (314,461,371) | (394,855,034) |
Accumulated other comprehensive loss | (1,028) | |
Total Navidea stockholders' equity (deficit) | 16,672,670 | (68,135,123) |
Noncontrolling interest | 668,741 | 468,910 |
Total stockholders’ equity (deficit) | 17,341,411 | (67,666,213) |
Total liabilities and stockholders’ equity (deficit) | $ 25,902,215 | $ 12,461,676 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 300,000,000 | 300,000,000 |
Common stock, shares issued (in shares) | 162,206,646 | 155,762,729 |
Common stock, shares outstanding (in shares) | 162,206,646 | 155,762,729 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | ||
Revenue: | |||||
Tc 99m tilmanocept sales revenue | $ 4,399 | $ 13,199 | |||
Tc 99m tilmanocept license revenue | 100,000 | 245,950 | 100,000 | 500,000 | |
Grant and other revenue | 511,599 | 916,811 | 1,091,629 | 1,602,446 | |
Total revenue | 611,599 | 1,167,160 | 1,191,629 | 2,115,645 | |
Cost of goods sold | 807 | 2,296 | |||
Gross profit | 611,599 | 1,166,353 | 1,191,629 | 2,113,349 | |
Operating expenses: | |||||
Research and development | 1,185,874 | 2,019,211 | 1,891,148 | 4,091,482 | |
Selling, general and administrative | 4,249,584 | 1,387,817 | 7,272,018 | 4,020,943 | |
Total operating expenses | 5,435,458 | 3,407,028 | 9,163,166 | 8,112,425 | |
Loss from operations | [1] | (4,823,859) | (2,240,675) | (7,971,537) | (5,999,076) |
Other income (expense): | |||||
Interest income (expense), net | 44,649 | (2,992) | 68,761 | (2,235) | |
Equity in loss of R-NAV, LLC | (2,920) | (15,159) | |||
Loss on disposal of investment in R-NAV, LLC | (39,732) | (39,732) | |||
Change in fair value of financial instruments | 12,872 | 1,469,928 | 153,357 | 2,595,287 | |
Loss on extinguishment of debt | (1,314,102) | ||||
Other, net | (16,673) | (126) | (38,277) | (37,418) | |
Total other income (expense), net | 40,848 | 1,424,158 | (1,130,261) | 2,500,743 | |
Loss before income taxes | (4,783,011) | (816,517) | (9,101,798) | (3,498,333) | |
Benefit from income taxes | 1,631,234 | 0 | 3,085,406 | ||
Loss from continuing operations | (3,151,777) | (816,517) | (6,016,392) | (3,498,333) | |
Discontinued operations, net of tax effect: | |||||
Loss from discontinued operations | (82,376) | (5,864,790) | (338,237) | (6,869,223) | |
Gain (loss) on sale | (1,953,378) | 86,748,123 | |||
Net income (loss) | (5,187,531) | (6,681,307) | 80,393,494 | (10,367,556) | |
Less income (loss) attributable to noncontrolling interest | 33 | (116) | (169) | (357) | |
Net income (loss) attributable to common stockholders | $ (5,187,564) | $ (6,681,191) | $ 80,393,663 | $ (10,367,199) | |
Income (loss) per common share (basic): | |||||
Continuing operations (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.04) | $ (0.03) | |
Discontinued operations (in dollars per share) | (0.01) | (0.03) | 0.54 | (0.04) | |
Attributable to common stockholders (in dollars per share) | $ (0.03) | $ (0.04) | $ 0.50 | $ (0.07) | |
Weighted average shares outstanding (basic) (in shares) | 161,910,792 | 155,382,368 | 161,147,873 | 155,345,231 | |
Income (loss) per common share (diluted): | |||||
Continuing operations (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.04) | $ (0.03) | |
Discontinued operations (in dollars per share) | (0.01) | (0.03) | 0.52 | (0.04) | |
Attributable to common stockholders (in dollars per share) | $ (0.03) | $ (0.04) | $ 0.49 | $ (0.07) | |
Weighted average shares outstanding (diluted) (in shares) | 161,910,792 | 155,382,368 | 165,631,000 | 155,345,231 | |
[1] | Income (loss) from operations does not reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments. |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Net income (loss) | $ (5,187,531) | $ (6,681,307) | $ 80,393,494 | $ (10,367,556) |
Unrealized loss on available-for-sale securities | (1,028) | (1,028) | ||
Comprehensive income (loss) | $ (5,188,559) | $ (6,681,307) | $ 80,392,466 | $ (10,367,556) |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Deficit) (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 155,762,729 | |||||
Balance at Dec. 31, 2016 | $ 155,763 | $ 326,564,148 | $ (394,855,034) | $ 468,910 | $ (67,666,213) | |
Issued stock in payment of Board retainers (in shares) | 16,406 | |||||
Issued stock in payment of Board retainers | $ 17 | 10,483 | 10,500 | |||
Issued stock in payment of employee bonuses (in shares) | 710,353 | |||||
Issued stock in payment of employee bonuses | $ 710 | 368,632 | 369,342 | |||
Issued stock upon exercise of warrants (in shares) | 5,411,850 | |||||
Issued stock upon exercise of warrants | $ 5,412 | 48,707 | 54,119 | |||
Issued warrants in connection with Asset Sale | 3,337,187 | 3,337,187 | ||||
Issued warrants for extension of license agreement | 333,719 | $ 333,719 | ||||
Issued stock to 401(k) plan (in shares) | 105,308 | 105,308 | ||||
Issued stock to 401(k) plan | $ 105 | 53,602 | $ 53,707 | |||
Issued restricted stock (in shares) | 200,000 | |||||
Issued restricted stock | $ 200 | 200 | ||||
Stock compensation expense | 256,384 | 256,384 | ||||
Net income | 80,393,663 | (169) | 80,393,494 | |||
Unrealized loss on available-for-sale securities | $ (1,028) | (1,028) | ||||
Total comprehensive income | 80,392,466 | |||||
Reclassification of funds invested (see Note 8) | 200,000 | 200,000 | ||||
Balance (in shares) at Jun. 30, 2017 | 162,206,646 | |||||
Balance at Jun. 30, 2017 | $ 162,207 | $ 330,972,862 | $ (314,461,371) | $ (1,028) | $ 668,741 | $ 17,341,411 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Cash flows from operating activities: | ||
Net income (loss) | $ 80,393,494 | $ (10,367,556) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 161,751 | 267,368 |
Loss (gain) on disposal and abandonment of assets | 806,710 | (13,861) |
Amortization of debt discount and issuance costs | 77,964 | |
Debt discount and issuance costs written off | 1,955,541 | |
Prepayment premium and debt collection fees related to long term debt | 2,923,271 | |
Compounded interest on long term debt | 182,680 | 1,176,931 |
Stock compensation expense | 256,384 | 261,302 |
Loss on disposal of investment in R-NAV, LLC | 39,732 | |
Change in fair value of financial instruments | (153,357) | (2,595,287) |
Issued warrants in connection with Asset Sale | 3,337,187 | |
Value of stock issued to directors | 10,500 | 34,820 |
Value of stock issued to employees | 369,342 | |
Value of stock issued to 401(k) plan for employer matching contributions | 53,707 | |
Other | 65 | |
Changes in operating assets and liabilities: | ||
Accounts and other receivables | (14,642,466) | 181,810 |
Inventory | 1,470,826 | (116,914) |
Prepaid expenses and other assets | 197,025 | 119,592 |
Accounts payable | (5,502,541) | 3,367,112 |
Accrued and other liabilities | (3,948,055) | 1,860,726 |
Deferred revenue | (2,315,037) | (529,244) |
Net cash provided by (used in) operating activities | 60,678,215 | (1,356,693) |
Cash flows from investing activities: | ||
Purchases of available-for-sale securities | (2,000,000) | |
Purchases of equipment | (8,170) | (1,847) |
Proceeds from sales of equipment | 45,000 | |
Payments on disposal of investment in R-NAV, LLC | (110,000) | |
Proceeds from disposal of investment in R-NAV, LLC | 27,623 | |
Net cash used in investing activities | (2,008,170) | (39,224) |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock | 54,319 | 140 |
Payment of debt-related costs | (3,923,271) | |
Principal payments on notes payable | (59,630,775) | (189,163) |
Release of restricted cash held for payment against debt | 5,001,188 | (500,997) |
Payments under capital leases | (1,411) | |
Net cash used in financing activities | (54,575,268) | (4,614,702) |
Net increase (decrease) in cash | 4,094,777 | (6,010,619) |
Cash, beginning of period | 1,539,325 | 7,166,260 |
Cash, end of period | $ 5,634,102 | $ 1,155,641 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Summary of Significant Accounting Policies a. Basis of Presentation: June 30, 2017 three six June 30, 2017 2016 June 30, 2017 not December 31, 2016, 10 Our consolidated financial statements include the accounts of Navidea and our wholly owned subsidiaries, Navidea Biopharmaceuticals Limited and Cardiosonix Ltd, as well as those of our majority-owned subsidiary, Macrophage Therapeutics, Inc. (“MT”). All significant inter-company accounts were eliminated in consolidation. Prior to termination of Navidea’s joint venture with R-NAV, LLC (“R-NAV”), Navidea's investment in R-NAV was being accounted for using the equity method of accounting and was therefore not On March 3, 2017, November 23, 2016, ( 414, 414” ® Upon closing of the Asset Sale, the Supply and Distribution Agreement, dated November 15, 2007 ( 414 no Our consolidated balance sheets and statements of operations have been reclassified, as required, for all periods presented to reflect the Business as a discontinued operation. Cash flows associated with the operation of the Business have been combined with operating, investing and financing cash flows, as appropriate, in our consolidated statements of cash flows. See Note 3. b. Financial Instruments and Fair Value: 1 3 three Level 1 Level 2 not Level 3 A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. In determining the appropriate levels, we perform a detailed analysis of the assets and liabilities whose fair value is measured on a recurring basis. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs or instruments which trade infrequently and therefore have little or no 3. 4. The following methods and assumptions were used to estimate the fair value of each class of financial instruments: ( 1 Cash, restricted cash, available-for-sale securities, accounts and other receivables, and accounts payable: The carrying amounts approximate fair value because of the short maturity of these instruments. ( 2 Notes payable: At June 30, 2017 December 31, 2016, certain notes payable was required to be recorded at fair value. The estimated fair value of the conversion option was calculated using a Monte Carlo simulation. This valuation method includes Level 3 are classified in other expenses as a change in the fair value of financial instruments in the consolidated statements of operations. At June 30, 2017, is approximately zero . See Note 10. ( 3 Derivative liabilities: Derivative liabilities are related to certain outstanding warrants which are recorded at fair value. Derivative liabilities totaling $63,000 June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 4. c. Revenue Recognition: We also earn revenues related to our licensing and distribution agreements. The terms of these agreements may not $2.0 March 2015. not not not two $417,000 September 2016, d. Recently Adopted Accounting Standards: March 2016, No. 2016 09, Compensation – Stock Compensation (Topic 178 2016 09 2016 09 December 15, 2016, 2016 09 January 1, 2017 not ● As of December 31, 2016, $15.3 December 31, 2016, zero 2016 09. ● Due to the full valuation allowance for the Company’s tax provision, these APIC NOLs have never been recorded in additional paid-in-capital. The Company does not ● The Company will continue to recognize forfeitures through estimates consistent with our past practices as opposed to when they occur. ● The Company already classifies cash paid to taxing authorities arising from the withholding of shares from employees in cash flows from financing activities. e. Recent Accounting Standards: In January 2017, No. 2017 01, 805 2017 01 not not not 2017 01 1 2 2017 01 December 15, 2017, 2017 01 No 2017 01. 2017 01 In May 2017, No. 2017 09, Compensation-Stock Compensation (Topic 718 2017 09 1 not not 2 3 2017 09 December 15, 2017. 2017 09. 2017 09 |
Note 2 - Liquidity
Note 2 - Liquidity | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 2. Liquidity Prior to the Asset Sale to Cardinal Health 414 March 2017, 14% 18% 2016, June 22, 2016, one $4.1 On March 3, 2017, 414 February 22, 2017. March 3, 2017, $59 no no $47 no $66 414 $7 414’s $12 one 414 414 $59 first 414, 414 414 414 414, 414 $2 $3 In addition, our Loan Agreement with Platinum-Montaur Life Sciences LLC, an affiliate of Platinum Management (NY) LLC, Platinum Partners Value Arbitrage Fund L.P., Platinum Partners Liquid Opportunity Master Fund L.P., Platinum Liquid Opportunity Management (NY) LLC, and Montsant Partners LLC (collectively, “Platinum”) (the “Platinum Loan Agreement”) carries standard non-financial covenants typical for commercial loan agreements that impose significant requirements on us. Our ability to comply with these provisions may The Platinum Loan Agreement includes a covenant that results in an event of default on the Platinum Loan Agreement upon default on the CRG Loan Agreement. As discussed above, the Company is maintaining its position that CRG’s alleged claims do not not In connection with the closing of the Asset Sale to Cardinal Health 414, $7.7 $1.9 not Based on our current working capital and our projected cash burn, including the potential for the Company to pay up to an additional $7 twelve 10 |
Note 3 - Discontinued Operation
Note 3 - Discontinued Operations | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 3. Discontinued Operations On March 3, 2017, 414 ® In exchange for the Acquired Assets, Cardinal Health 414 $80.6 $3 414’s no $230 ten $20.1 $6.7 three $3 414 third We recorded a net gain on the sale of the Business of $86.7 six June 30, 2017, $16.5 $3.3 414, $2.0 $800,000 $6.5 As a result of the Asset Sale, we reclassified certain assets and liabilities as assets and liabilities associated with discontinued operations. The following assets and liabilities have been segregated and included in assets associated with discontinued operations or liabilities associated with discontinued operations, as appropriate, in the consolidated balance sheets: June 30 , 2017 December 31, 2016 Accounts and other receivables $ — $ 1,598,994 Inventory, net — 1,374,618 Prepaid expenses — 170,635 Assets associated with discontinued operations, current — 3,144,247 Property and equipment, net of accumulated depreciation — 70,973 Patents and trademarks, net of accumulated amortization — 34,282 Assets associated with discontinued operations, noncurrent — 105,255 Total assets associated with discontinued operations $ — $ 3,249,502 Accounts payable $ 21,255 $ 1,957,938 Accrued liabilities 33,804 607,659 Deferred revenue — 2,300,000 Liabilities associated with discontinued operations, current $ 55,059 $ 4,865,597 In addition, we reclassified certain revenues and expenses related to the Business to discontinued operations for all periods presented, including interest expense related to the CRG and Platinum debt obligations as required by current accounting guidance. The following amounts have been segregated from continuing operations and included in discontinued operations in the consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Revenue: Lymphoseek sales revenue $ 9,663 $ 4,227,320 $ 2,926,876 $ 8,001,200 Grant and other revenue — — — 190 Total revenue 9,663 4,227,320 2,926,876 8,001,390 Cost of goods sold 24,216 559,933 388,408 1,093,373 Gross profit (14,553 ) 3,667,387 2,538,468 6,908,017 Operating expenses: Research and development 75,196 506,370 358,729 1,093,619 Selling, general and administrative — 1,500,324 820,203 2,963,858 Total operating expenses 75,196 2,006,694 1,178,932 4,057,477 Income (loss) from discontinued operations (89,749 ) 1,660,693 1,359,536 2,850,540 Interest expense — (7,525,483 ) (1,718,506 ) (9,719,763 ) Loss before income taxes (89,749 ) (5,864,790 ) (358,970 ) (6,869,223 ) Benefit from income taxes 7,373 — 20,733 — Loss from discontinued operations $ (82,376 ) $ (5,864,790 ) $ (338,237 ) $ (6,869,223 ) |
Note 4 - Fair Value
Note 4 - Fair Value | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4 . Fair Value The Company has been informed by PPVA that it is the owner of the balance of the Platinum-Montaur loan. Such balance of approximately $1.9 not Platinum or Dr. Goldberg has the right to convert all or any portion of the unpaid principal or unpaid interest accrued on all draws under the Platinum credit facility, under certain circumstances. The Platinum embedded option to convert such debt into common stock is recorded at fair value on the consolidated balance sheets and deemed to be a derivative instrument as the amount of shares to be issued upon conversion is indeterminable. The estimated fair value of the conversion option of the Platinum notes payable is $0 $153,000 June 30, 2017 December 31, 2016, MT issued warrants to purchase MT Common Stock with certain characteristics including a net settlement provision that require the warrants to be accounted for as a derivative liability at fair value on the consolidated balance sheets. The estimated fair value of the MT warrants is $63,000 June 30, 2017 December 31, 2016, 1 3 The following tables set forth, by level, financial liabilities measured at fair value on a recurring basis: Liabilities Measured at Fair Value on a Recurring Basis as of June 30 , 201 7 Description Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Platinum conversion option $ — $ — $ — $ — Liability related to MT warrants — — 63,000 63,000 Liabilities Measured at Fair Value on a Recurri ng Basis as of December 31, 2016 Description Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Platinum conversion option $ — $ — $ 153,000 $ 153,000 Liability related to MT warrants — — 63,000 63,000 a. Valuation Processes-Level 3 third third The assumptions used in the Monte Carlo simulation as of June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 Estimated volatility 72 % 76 % Expected term (in years) 0.18 4.75 Debt rate 8.125 % 8.125 % Beginning stock price $ 0.51 $ 0.64 b. Sensitivity Analysis-Level 3 one not There were no 1 2 three six June 30, 2017 2016. no 1 2 three six June 30, 2017 2016. 3 3 three June 30, 2017 2016 $13,000 $1.5 3 six June 30, 2017 2016 $153,000 $2.6 |
Note 5 - Stock-based Compensati
Note 5 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 5. Stock-Based Compensation For the three June 30, 2017 2016, $109,000 79,000 six June 30, 2017 2016, $256,000 $261,000, not three six June 30, 2017 2016. A summary of the status of our stock options as of June 30, 2017, six Six Months Ended June 30, 2017 Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding at beginning of period 3,380,615 $ 2.00 Granted 1,390,000 0.75 Exercised — — Canceled and Forfeited (528,198 ) 1.59 Expired — — Outstanding at end of period 4,242,417 $ 1.64 6.9 $ 7,400 Exercisable at end of period 2,748,183 $ 2.08 5.4 $ 7,400 A summary of the status of our unvested restricted stock as of June 30, 2017, six Six Months Ended June 30, 2017 Number of Shares Weighted Average Grant-Date Fair Value Unvested at beginning of period 207,000 $ 1.17 Granted 200,000 0.51 Vested (207,000 ) 1.17 Forfeited — — Unvested at end of period 200,000 $ 0.51 As of June 30, 2017, $221,000 1.2 |
Note 6 - Earnings (Loss) Per Sh
Note 6 - Earnings (Loss) Per Share | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 6. Earnings (Loss) Per Share Basic earnings (loss) per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of common shares and, except for periods with a loss from operations, participating securities outstanding during the period. Diluted earnings (loss) per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued. Potential common shares that may The following table sets forth the reconciliation of the weighted average number of common shares outstanding used to compute basic and diluted earnings (loss) per share for the three six June 30, 2017 2016: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Weighted average shares outstanding, basic 161,910,792 155,382,368 161,147,873 155,345,231 Dilutive shares related to warrants — — 4,283,127 — Unvested restricted stock — — 200,000 — Weighted average shares outstanding, diluted 161,910,792 155,382,368 165,631,000 155,345,231 Diluted earnings (loss) per common share for the six June 30, 2017 2016 15.7 14.7 The Company’s unvested stock awards contain nonforfeitable rights to dividends or dividend equivalents, whether paid or unpaid (referred to as “participating securities”). Therefore, the unvested stock awards are required to be included in the number of shares outstanding for both basic and diluted earnings per share calculations. However, due to our loss from continuing operations, 200,000 257,000 six June 30, 2017 2016, |
Note 7 - Inventory
Note 7 - Inventory | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 7. Inventory All components of inventory are valued at the lower of cost ( first first The components of inventory as of June 30, 2017 December 31, 2016 June 30 , 2017 December 31, 2016 (unaudited) Materials $ — $ 94,500 Work-in-process — 1,708 Finished goods 748 — Reserves (748 ) — Total $ — $ 96,208 |
Note 8 - Investment in Macropha
Note 8 - Investment in Macrophage Therapeutics, Inc. | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Investments in and Advances to Affiliates, Schedule of Investments [Text Block] | 8. Investment in Macrophage Therapeutics, Inc. In March 2015, $300,000 $200,000, In December 2015 May 2016, $200,000 not December 31, 2016, $200,000 In 2016, 10% $500 first $200,000 December 2015 May 2016. $200,000 January 2017. 10 not |
Note 9 - Accounts Payable, Accr
Note 9 - Accounts Payable, Accrued Liabilities and Other | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | 9. Accounts Payable, Accrued Liabilities and Other Accounts payable at June 30, 2017 December 31, 2016 $1,000 $116,000, June 30, 2017, $210,000 December 31, 2016. Accrued liabilities and other at June 30, 2017 $64,000 December 31, 2016 $106,000 |
Note 10 - Notes Payable
Note 10 - Notes Payable | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 10. Notes Payable Platinum In July 2012, $50 414, $7.7 $1.9 not During the six June 30, 2017 2016, $183,000 $624,000 June 30, 2017, $2.0 The Platinum Note is reflected on the consolidated balance sheets at its unpaid principal and interest balance of $1,952,912 $9,487,822 June 30, 2017 December 31, 2016, the estimated fair value of the embedded conversion option of approximately $0 $153,000 June 30, 2017 December 31, 2016, Changes in the estimated fair value of the Platinum conversion option were decreases of $13,000 $1.5 three June 30, 2017 2016. $153,000 $2.6 six June 30, 2017 2016. Capital Royalty Partners II, L.P. In May 2015, $50 $10 three March 31, 2016, $519,000 Pursuant to a notice of default letter sent to Navidea by CRG in April 2016, second 2016 December 31, 2016, $5.8 December 31, 2016, $51.7 During the course of 2016, June 22, 2016, one $4.1 On March 3, 2017, 414 February 22, 2017. March 3, 2017, $59 no no $47 no $66 414 $7 $12 one 414 414 $59 first 414, 414 414 414 414, 414 $2 $3 IPFS Corporation In December 2016, $348,000 8.99%. eight $45,000, July 10, 2017. June 30, 2017 December 31, 2016, $45,000 $306,000, Summary During the three June 30, 2017 2016, $43,000 $7.5 $0 $5,000, $40,000 $352,000 three June 30, 2017 2016, six June 30, 2017 2016, $1.8 $9.7 $0 $78,000, $183,000 $1.2 three June 30, 2017 2016, $778,000, $2.1 $2.0 three June 30, 2016. |
Note 11 - Terminated Lease Liab
Note 11 - Terminated Lease Liability | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Terminated Lease Liability Disclosure [Text Block] | 11. Terminated Lease Liability Effective June 1, 2017, 5600 4995 no October 2022. In accordance with current accounting guidance, the Company recorded a total liability of $944,000, $394,000 $706,000. three six June 30, 2017. A summary of the changes in our terminated lease liability during the six June 30, 2017 Terminated Lease Liability Total liability, June 1, 2017 (date of sublease) $ 943,675 Payment of finder’s fee (81,378 ) Payments under Blazer lease (47,292 ) Total liability, June 30, 2017 $ 815,005 |
Note 12 - Commitments and Conti
Note 12 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 12. Commitments and Contingencies We are subject to legal proceedings and claims that arise in the ordinary course of business. Sinotau Litigation – NAV4694 On August 31, 2015, NAV4694 September 2016, motion to dismiss. The Company filed its answer to the complaint and on July 20, 2017, 60 not CRG Litigation During the course of 2016, June 22, 2016, one $4.1 $3.9 $189,000 2016 2017. On March 3, 2017, 414 February 22, 2017. March 3, 2017, $59 no no $47 no $66 not December 2017. Concurrently with the payment of the Deposit Amount and closing of the Asset Sale, (i) Cardinal Health 414 $7 414’s $12 one 414 414 $59 first 414, 414 414 414 414, 414 $2 $3 December 2017. 2 10. Former CEO Arbitration On May 12, 2016 4G May 9, 2016. May 13, 2016, 4G 4G May 12, 2017, April 7, 2016. $481,039 $617,880 May 16, 2017. FTI Consulting, Inc. Litigation On October 11, 2016, $782,600 $730,264 $52,337 November 14, 2016, February 7, 2017, June 26, 2017, June 2017, $862,164.90 $435,000 June 30, 2017. Sinotau Litigation – Tc 99m On February 1, 2017, 99m 414. February 3, 2017, March 6, 2017. March 3, 2017. March 6, not 60 July 21, 2017. Sinotau also filed a suit against the Company and Cardinal Health 414 February 2, 2017. July 12, 2017, July 27, 2017 60 In accordance with ASC Topic 450, Contingencies $7 not |
Note 13 - Equity Instruments
Note 13 - Equity Instruments | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 13 . Equity Instruments During the six June 30, 2017 2016, 16,406 29,069 $10,500 $34,820 Also during the six June 30, 2017, 710,353 $369,342 2015 2016 |
Note 14 - Stock Warrants
Note 14 - Stock Warrants | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Stock Warrants Disclosure [Text Block] | 14. Stock Warrants In January 2017, 5,411,850 5,411,850 $54,119. In March 2017, 414 five 10 1 $1.50 five 77% five 2%. 414 $3.3 three March 31, 2017. $334,000, three March 31, 2017. At June 30, 2017, 16.9 $0.01 $3.04 $1.19 1 18 In addition, at June 30, 2017, 300 $2,000 |
Note 15 - Income Taxes
Note 15 - Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 15. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases, and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Due to the uncertainty surrounding the realization of the deferred tax assets in future tax returns, all of the deferred tax assets have been fully offset by a valuation allowance at March 31, 2017 December 31, 2016. Current accounting standards include guidance on the accounting for uncertainty in income taxes recognized in the financial statements. Such standards also prescribe a recognition threshold and measurement model for the financial statement recognition of a tax position taken, or expected to be taken, and provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. The Company believes that the ultimate deductibility of all tax positions is highly certain, although there is uncertainty about the timing of such deductibility. As a result, no June 30, 2017 December 31, 2016 not twelve June 30, 2017, 2013 2016 Benefit from income taxes was $1.6 three June 30, 2017, 34.0%, $0 three June 30, 2016, 0%. June 30, 2017 2016 As of June 30, 2017, $128.8 $16.3 |
Note 16 - Segments
Note 16 - Segments | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 1 6 . Segments We report information about our operating segments using the “management approach” in accordance with current accounting standards. This information is based on the way management organizes and reports the segments within the enterprise for making operating decisions and assessing performance. Our reportable segments are identified based on differences in products, services and markets served. There were no two 99m May 31, 2016), NAV4694 NAV5001 April 2015), The information in the following tables is derived directly from each reportable segment’s financial reporting. T hree Months Ended June 30, 2017 Diagnostics Therapeutics Corporate Total Tc 99m tilmanocept sales revenue: United States $ — $ — $ — $ — International — — — — Tc 99m tilmanocept license revenue 100,000 — — 100,000 Grant and other revenue 418,375 93,224 — 511,599 Total revenue 518,375 93,224 — 611,599 Cost of goods sold, excluding depreciation and amortization — — — — Research and development expenses, excluding depreciation and amortization 1,108,101 77,773 — 1,185,874 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 3,462 4,175,583 4,179,045 Depreciation and amortization (2) — — 70,539 70,539 Income (loss) from operations (3) (589,726 ) 11,989 (4,246,122 ) (4,823,859 ) Other income — — 40,848 40,848 Income tax benefit (expense) 201,125 (4,089 ) 1,434,198 1,631,234 Net income (loss) from continuing operations (388,601 ) 7,900 (2,771,076 ) (3,151,777 ) Loss from discontinued operations, net of tax (82,376 ) — — (82,376 ) Loss on sale of discontinued operations, net of tax (1,953,378 ) — — (1,953,378 ) Net income (loss) (2,424,355 ) 7,900 (2,771,076 ) (5,187,531 ) Total assets, net of depreciation and amortization: United States 16,373,919 16,002 9,411,189 25,801,110 International 98,806 — 2,299 101,105 Capital expenditures — — 8,170 8,170 Three Months Ended June 30 , 2016 Diagnostics Therapeutics Corporate Total Tc 99m tilmanocept sales revenue: United States $ — $ — $ — $ — International 4,399 — — 4,399 Tc 99m tilmanocept license revenue 245,950 — — 245,950 Grant and other revenue 865,359 51,452 — 916,811 Total revenue 1,115,708 51,452 — 1,167,160 Cost of goods sold, excluding depreciation and amortization 807 — — 807 Research and development expenses, excluding depreciation and amortization 1,907,885 111,326 — 2,019,211 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 4,430 1,289,203 1,293,633 Depreciation and amortization (2) — — 94,184 94,184 Loss from operations (3) (792,984 ) (64,304 ) (1,383,387 ) (2,240,675 ) Other income, excluding equity in loss of R-NAV, LLC (4) — — 1,427,078 1,427,078 Equity in loss of R-NAV, LLC — — (2,920 ) (2,920 ) Net income (loss) from continuing operations (792,984 ) (64,304 ) 40,771 (816,517 ) Loss from discontinued operations, net of tax (5,864,790 ) — — (5,864,790 ) Net income (loss) (6,657,774 ) (64,304 ) 40,771 (6,681,307 ) Total assets, net of depreciation and amortization: United States 4,774,933 36,841 3,548,425 8,360,199 International 321,359 — 591 321,950 Capital expenditures — — 1,847 1,847 Six Months Ended June 30, 2017 Diagnostics Therapeutics Corporate Total Tc 99m tilmanocept sales revenue: United States $ — $ — $ — $ — International — — — — Tc 99m tilmanocept license revenue 100,000 — — 100,000 Grant and other revenue 989,737 101,892 — 1,091,629 Total revenue 1,089,737 101,892 — 1,191,629 Cost of goods sold, excluding depreciation and amortization — — — — Research and development expenses, excluding depreciation and amortization 1,521,303 369,845 — 1,891,148 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 5,983 7,118,706 7,124,689 Depreciation and amortization (2) — — 147,329 147,329 Loss from operations (3) (431,566 ) (273,936 ) (7,266,035 ) (7,971,537 ) Other expense — — (1,130,261 ) (1,130,261 ) Income tax benefit 146,296 92,861 2,846,249 3,085,406 Net loss from continuing operations (285,270 ) (181,075 ) (5,550,047 ) (6,016,392 ) Loss from discontinued operations, net of tax (338,237 ) — — (338,237 ) Gain on sale of discontinued operations, net of tax 86,748,123 — — 86,748,123 Net income (loss) 86,124,616 (181,075 ) (5,550,047 ) 80,393,494 Total assets, net of depreciation and amortization: United States 16,373,919 16,002 9,411,189 25,801,110 International 98,806 — 2,299 101,105 Capital expenditures — — 8,170 8,170 Six Months Ended June 30 , 2016 Diagnostics Therapeutics Corporate Total Tc 99m tilmanocept sales revenue: United States $ — $ — $ — $ — International 13,199 — — 13,199 Tc 99m tilmanocept license revenue 500,000 — — 500,000 Grant and other revenue 1,550,994 51,452 — 1,602,446 Total revenue 2,064,193 51,452 — 2,115,645 Cost of goods sold, excluding depreciation and amortization 2,296 — — 2,296 Research and development expenses, excluding depreciation and amortization 3,738,356 353,126 — 4,091,482 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 3,832 3,847,961 3,851,793 Depreciation and amortization (2) — — 169,150 169,150 Loss from operations (3) (1,676,459 ) (305,506 ) (4,017,111 ) (5,999,076 ) Other income, excluding equity in loss of R-NAV, LLC (4) — — 2,515,902 2,515,902 Equity in loss of R-NAV, LLC — — (15,159 ) (15,159 ) Net loss from continuing operations (1,676,459 ) (305,506 ) (1,516,368 ) (3,498,333 ) Loss from discontinued operations, net of tax (6,869,223 ) — — (6,869,223 ) Net loss (8,545,682 ) (305,506 ) (1,516,368 ) (10,367,556 ) Total assets, net of depreciation and amortization: United States 4,774,933 36,841 3,548,425 8,360,199 International 321,359 — 591 321,950 Capital expenditures — — 1,847 1,847 ( 1 not ( 2 $70,539 $94,184 three June 30, 2017 2016 $147,329 $169,150 six June 30, 2017 2016, ( 3 not ( 4 not |
Note 17 - Supplemental Disclosu
Note 17 - Supplemental Disclosure for Statements of Cash Flows | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Cash Flow, Supplemental Disclosures [Text Block] | 17. Supplemental Disclosure for Statements of Cash Flows During the six June 30, 2017 2016, $7.4 $4.2 six June 30, 2016 $778,000 $2.1 six June 30, 2017, 1 $334,000. 8, $200,000 January 2017. six June 30, 2017, 105,308 401 $53,707. |
Note 18 - Subsequent Events
Note 18 - Subsequent Events | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 18. Subsequent Events The Company has evaluated events and transactions subsequent to June 30, 2017 10 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | a. Basis of Presentation: June 30, 2017 three six June 30, 2017 2016 June 30, 2017 not December 31, 2016, 10 Our consolidated financial statements include the accounts of Navidea and our wholly owned subsidiaries, Navidea Biopharmaceuticals Limited and Cardiosonix Ltd, as well as those of our majority-owned subsidiary, Macrophage Therapeutics, Inc. (“MT”). All significant inter-company accounts were eliminated in consolidation. Prior to termination of Navidea’s joint venture with R-NAV, LLC (“R-NAV”), Navidea's investment in R-NAV was being accounted for using the equity method of accounting and was therefore not On March 3, 2017, November 23, 2016, ( 414, 414” ® Upon closing of the Asset Sale, the Supply and Distribution Agreement, dated November 15, 2007 ( 414 no Our consolidated balance sheets and statements of operations have been reclassified, as required, for all periods presented to reflect the Business as a discontinued operation. Cash flows associated with the operation of the Business have been combined with operating, investing and financing cash flows, as appropriate, in our consolidated statements of cash flows. See Note 3. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | b. Financial Instruments and Fair Value: 1 3 three Level 1 Level 2 not Level 3 A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. In determining the appropriate levels, we perform a detailed analysis of the assets and liabilities whose fair value is measured on a recurring basis. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs or instruments which trade infrequently and therefore have little or no 3. 4. The following methods and assumptions were used to estimate the fair value of each class of financial instruments: ( 1 Cash, restricted cash, available-for-sale securities, accounts and other receivables, and accounts payable: The carrying amounts approximate fair value because of the short maturity of these instruments. ( 2 Notes payable: At June 30, 2017 December 31, 2016, certain notes payable was required to be recorded at fair value. The estimated fair value of the conversion option was calculated using a Monte Carlo simulation. This valuation method includes Level 3 are classified in other expenses as a change in the fair value of financial instruments in the consolidated statements of operations. At June 30, 2017, is approximately zero . See Note 10. ( 3 Derivative liabilities: Derivative liabilities are related to certain outstanding warrants which are recorded at fair value. Derivative liabilities totaling $63,000 June 30, 2017 December 31, 2016 June 30, 2017 December 31, 2016 4. |
Revenue Recognition, Policy [Policy Text Block] | c. Revenue Recognition: We also earn revenues related to our licensing and distribution agreements. The terms of these agreements may not $2.0 March 2015. not not not two $417,000 September 2016, |
New Accounting Pronouncements, Policy [Policy Text Block] | d. Recently Adopted Accounting Standards: March 2016, No. 2016 09, Compensation – Stock Compensation (Topic 178 2016 09 2016 09 December 15, 2016, 2016 09 January 1, 2017 not ● As of December 31, 2016, $15.3 December 31, 2016, zero 2016 09. ● Due to the full valuation allowance for the Company’s tax provision, these APIC NOLs have never been recorded in additional paid-in-capital. The Company does not ● The Company will continue to recognize forfeitures through estimates consistent with our past practices as opposed to when they occur. ● The Company already classifies cash paid to taxing authorities arising from the withholding of shares from employees in cash flows from financing activities. e. Recent Accounting Standards: In January 2017, No. 2017 01, 805 2017 01 not not not 2017 01 1 2 2017 01 December 15, 2017, 2017 01 No 2017 01. 2017 01 In May 2017, No. 2017 09, Compensation-Stock Compensation (Topic 718 2017 09 1 not not 2 3 2017 09 December 15, 2017. 2017 09. 2017 09 |
Note 3 - Discontinued Operati27
Note 3 - Discontinued Operations (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | June 30 , 2017 December 31, 2016 Accounts and other receivables $ — $ 1,598,994 Inventory, net — 1,374,618 Prepaid expenses — 170,635 Assets associated with discontinued operations, current — 3,144,247 Property and equipment, net of accumulated depreciation — 70,973 Patents and trademarks, net of accumulated amortization — 34,282 Assets associated with discontinued operations, noncurrent — 105,255 Total assets associated with discontinued operations $ — $ 3,249,502 Accounts payable $ 21,255 $ 1,957,938 Accrued liabilities 33,804 607,659 Deferred revenue — 2,300,000 Liabilities associated with discontinued operations, current $ 55,059 $ 4,865,597 Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Revenue: Lymphoseek sales revenue $ 9,663 $ 4,227,320 $ 2,926,876 $ 8,001,200 Grant and other revenue — — — 190 Total revenue 9,663 4,227,320 2,926,876 8,001,390 Cost of goods sold 24,216 559,933 388,408 1,093,373 Gross profit (14,553 ) 3,667,387 2,538,468 6,908,017 Operating expenses: Research and development 75,196 506,370 358,729 1,093,619 Selling, general and administrative — 1,500,324 820,203 2,963,858 Total operating expenses 75,196 2,006,694 1,178,932 4,057,477 Income (loss) from discontinued operations (89,749 ) 1,660,693 1,359,536 2,850,540 Interest expense — (7,525,483 ) (1,718,506 ) (9,719,763 ) Loss before income taxes (89,749 ) (5,864,790 ) (358,970 ) (6,869,223 ) Benefit from income taxes 7,373 — 20,733 — Loss from discontinued operations $ (82,376 ) $ (5,864,790 ) $ (338,237 ) $ (6,869,223 ) |
Note 4 - Fair Value (Tables)
Note 4 - Fair Value (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Liabilities Measured at Fair Value on a Recurring Basis as of June 30 , 201 7 Description Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Platinum conversion option $ — $ — $ — $ — Liability related to MT warrants — — 63,000 63,000 Liabilities Measured at Fair Value on a Recurri ng Basis as of December 31, 2016 Description Quoted Prices in Active Markets for Identical Liabilities (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Platinum conversion option $ — $ — $ 153,000 $ 153,000 Liability related to MT warrants — — 63,000 63,000 |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | June 30, 2017 December 31, 2016 Estimated volatility 72 % 76 % Expected term (in years) 0.18 4.75 Debt rate 8.125 % 8.125 % Beginning stock price $ 0.51 $ 0.64 |
Note 5 - Stock-based Compensa29
Note 5 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Six Months Ended June 30, 2017 Number of Options Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Aggregate Intrinsic Value Outstanding at beginning of period 3,380,615 $ 2.00 Granted 1,390,000 0.75 Exercised — — Canceled and Forfeited (528,198 ) 1.59 Expired — — Outstanding at end of period 4,242,417 $ 1.64 6.9 $ 7,400 Exercisable at end of period 2,748,183 $ 2.08 5.4 $ 7,400 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Six Months Ended June 30, 2017 Number of Shares Weighted Average Grant-Date Fair Value Unvested at beginning of period 207,000 $ 1.17 Granted 200,000 0.51 Vested (207,000 ) 1.17 Forfeited — — Unvested at end of period 200,000 $ 0.51 |
Note 6 - Earnings (Loss) Per 30
Note 6 - Earnings (Loss) Per Share (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Weighted average shares outstanding, basic 161,910,792 155,382,368 161,147,873 155,345,231 Dilutive shares related to warrants — — 4,283,127 — Unvested restricted stock — — 200,000 — Weighted average shares outstanding, diluted 161,910,792 155,382,368 165,631,000 155,345,231 |
Note 7 - Inventory (Tables)
Note 7 - Inventory (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30 , 2017 December 31, 2016 (unaudited) Materials $ — $ 94,500 Work-in-process — 1,708 Finished goods 748 — Reserves (748 ) — Total $ — $ 96,208 |
Note 11 - Terminated Lease Li32
Note 11 - Terminated Lease Liability (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Terminated Lease Liability [Table Text Block] | Terminated Lease Liability Total liability, June 1, 2017 (date of sublease) $ 943,675 Payment of finder’s fee (81,378 ) Payments under Blazer lease (47,292 ) Total liability, June 30, 2017 $ 815,005 |
Note 16 - Segments (Tables)
Note 16 - Segments (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | T hree Months Ended June 30, 2017 Diagnostics Therapeutics Corporate Total Tc 99m tilmanocept sales revenue: United States $ — $ — $ — $ — International — — — — Tc 99m tilmanocept license revenue 100,000 — — 100,000 Grant and other revenue 418,375 93,224 — 511,599 Total revenue 518,375 93,224 — 611,599 Cost of goods sold, excluding depreciation and amortization — — — — Research and development expenses, excluding depreciation and amortization 1,108,101 77,773 — 1,185,874 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 3,462 4,175,583 4,179,045 Depreciation and amortization (2) — — 70,539 70,539 Income (loss) from operations (3) (589,726 ) 11,989 (4,246,122 ) (4,823,859 ) Other income — — 40,848 40,848 Income tax benefit (expense) 201,125 (4,089 ) 1,434,198 1,631,234 Net income (loss) from continuing operations (388,601 ) 7,900 (2,771,076 ) (3,151,777 ) Loss from discontinued operations, net of tax (82,376 ) — — (82,376 ) Loss on sale of discontinued operations, net of tax (1,953,378 ) — — (1,953,378 ) Net income (loss) (2,424,355 ) 7,900 (2,771,076 ) (5,187,531 ) Total assets, net of depreciation and amortization: United States 16,373,919 16,002 9,411,189 25,801,110 International 98,806 — 2,299 101,105 Capital expenditures — — 8,170 8,170 Three Months Ended June 30 , 2016 Diagnostics Therapeutics Corporate Total Tc 99m tilmanocept sales revenue: United States $ — $ — $ — $ — International 4,399 — — 4,399 Tc 99m tilmanocept license revenue 245,950 — — 245,950 Grant and other revenue 865,359 51,452 — 916,811 Total revenue 1,115,708 51,452 — 1,167,160 Cost of goods sold, excluding depreciation and amortization 807 — — 807 Research and development expenses, excluding depreciation and amortization 1,907,885 111,326 — 2,019,211 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 4,430 1,289,203 1,293,633 Depreciation and amortization (2) — — 94,184 94,184 Loss from operations (3) (792,984 ) (64,304 ) (1,383,387 ) (2,240,675 ) Other income, excluding equity in loss of R-NAV, LLC (4) — — 1,427,078 1,427,078 Equity in loss of R-NAV, LLC — — (2,920 ) (2,920 ) Net income (loss) from continuing operations (792,984 ) (64,304 ) 40,771 (816,517 ) Loss from discontinued operations, net of tax (5,864,790 ) — — (5,864,790 ) Net income (loss) (6,657,774 ) (64,304 ) 40,771 (6,681,307 ) Total assets, net of depreciation and amortization: United States 4,774,933 36,841 3,548,425 8,360,199 International 321,359 — 591 321,950 Capital expenditures — — 1,847 1,847 Six Months Ended June 30, 2017 Diagnostics Therapeutics Corporate Total Tc 99m tilmanocept sales revenue: United States $ — $ — $ — $ — International — — — — Tc 99m tilmanocept license revenue 100,000 — — 100,000 Grant and other revenue 989,737 101,892 — 1,091,629 Total revenue 1,089,737 101,892 — 1,191,629 Cost of goods sold, excluding depreciation and amortization — — — — Research and development expenses, excluding depreciation and amortization 1,521,303 369,845 — 1,891,148 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 5,983 7,118,706 7,124,689 Depreciation and amortization (2) — — 147,329 147,329 Loss from operations (3) (431,566 ) (273,936 ) (7,266,035 ) (7,971,537 ) Other expense — — (1,130,261 ) (1,130,261 ) Income tax benefit 146,296 92,861 2,846,249 3,085,406 Net loss from continuing operations (285,270 ) (181,075 ) (5,550,047 ) (6,016,392 ) Loss from discontinued operations, net of tax (338,237 ) — — (338,237 ) Gain on sale of discontinued operations, net of tax 86,748,123 — — 86,748,123 Net income (loss) 86,124,616 (181,075 ) (5,550,047 ) 80,393,494 Total assets, net of depreciation and amortization: United States 16,373,919 16,002 9,411,189 25,801,110 International 98,806 — 2,299 101,105 Capital expenditures — — 8,170 8,170 Six Months Ended June 30 , 2016 Diagnostics Therapeutics Corporate Total Tc 99m tilmanocept sales revenue: United States $ — $ — $ — $ — International 13,199 — — 13,199 Tc 99m tilmanocept license revenue 500,000 — — 500,000 Grant and other revenue 1,550,994 51,452 — 1,602,446 Total revenue 2,064,193 51,452 — 2,115,645 Cost of goods sold, excluding depreciation and amortization 2,296 — — 2,296 Research and development expenses, excluding depreciation and amortization 3,738,356 353,126 — 4,091,482 Selling, general and administrative expenses, excluding depreciation and amortization (1) — 3,832 3,847,961 3,851,793 Depreciation and amortization (2) — — 169,150 169,150 Loss from operations (3) (1,676,459 ) (305,506 ) (4,017,111 ) (5,999,076 ) Other income, excluding equity in loss of R-NAV, LLC (4) — — 2,515,902 2,515,902 Equity in loss of R-NAV, LLC — — (15,159 ) (15,159 ) Net loss from continuing operations (1,676,459 ) (305,506 ) (1,516,368 ) (3,498,333 ) Loss from discontinued operations, net of tax (6,869,223 ) — — (6,869,223 ) Net loss (8,545,682 ) (305,506 ) (1,516,368 ) (10,367,556 ) Total assets, net of depreciation and amortization: United States 4,774,933 36,841 3,548,425 8,360,199 International 321,359 — 591 321,950 Capital expenditures — — 1,847 1,847 |
Note 1 - Summary of Significa34
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 1 Months Ended | |||
Sep. 30, 2016 | Mar. 31, 2015 | Jun. 30, 2017 | Dec. 31, 2016 | |
Notes Payable, Fair Value Disclosure | $ 0 | |||
Derivative Liability | $ 63,000 | $ 63,000 | ||
Accounting Standards Update 2016-09 [Member] | ||||
Operating Loss Carryforwards | $ 15,300,000 | |||
Nonsoftware License Arrangement [Member] | SpePharm AG [Member] | ||||
Deferred Revenue, Additions | $ 2,000,000 | |||
Deferred Revenue, Recognition Period | 2 years | |||
Deferred Revenue, Revenue Recognized | $ 417,000 |
Note 2 - Liquidity (Details Tex
Note 2 - Liquidity (Details Textual) - USD ($) $ in Millions | Mar. 03, 2017 | Jun. 22, 2016 | Jun. 30, 2017 | Feb. 28, 2017 |
CRG Loan Agreement, Ohio Case [Member] | ||||
Release of Cash Held in Escrow | $ 2 | |||
CRG Loan Agreement, Texas Case [Member] | ||||
Release of Cash Held in Escrow | 3 | |||
Term Loan Agreement [Member] | Cardinal Health 414 [Member] | ||||
Letters of Credit Outstanding, Amount | 7 | |||
Term Loan Agreement [Member] | CRG [Member] | ||||
Letters of Credit Outstanding, Amount | 12 | |||
CRG [Member] | Term Loan Agreement [Member] | ||||
Debt Instrument, Interest Rate, Stated Percentage | 14.00% | |||
Debt Instrument, Default, Interest Rate, Stated Percentage | 18.00% | |||
Debt Instrument, Final Payoff Amount, Threshold Above Which the Reporting Entity Will First Pay Without Resorting to Letter of Credit | 59 | |||
Primary Bank Account Cash Taken Possession Of By Creditor | $ 4.1 | |||
Repayments of Debt | 59 | |||
Debt Instrument, Amount That May Become Due Depending on the Outcome of Litigation | $ 7 | |||
CRG [Member] | Term Loan Agreement [Member] | Minimum [Member] | ||||
Debt Instrument, Agreed-upon Final Payoff Amount | 47 | |||
CRG [Member] | Term Loan Agreement [Member] | Maximum [Member] | ||||
Debt Instrument, Agreed-upon Final Payoff Amount | 66 | |||
PPCO [Member] | Platinum Loan Agreement [Member] | ||||
Repayments of Debt | 7.7 | |||
Convertible Debt | $ 1.9 |
Note 3 - Discontinued Operati36
Note 3 - Discontinued Operations (Details Textual) - USD ($) | Mar. 03, 2017 | Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 |
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | $ (1,953,378) | $ 86,748,123 | |||
Warrants Issued During Period, Value Issued, Asset Sale | 3,337,187 | ||||
Sale of Assets to Cardinal Health 414 [Member] | |||||
Sale of Assets, Cash Received from Buyer, After Adjustments, Inventory Transferred | $ 80,600,000 | ||||
Sale of Assets, Cash Received from Buyer, After Adjustments, Advances of Guaranteed Earnout Payments | 3,000,000 | ||||
Purchase Agreement, Maximum Earnout Payments | $ 230,000,000 | ||||
Purchase Agreement, Earnout Payments, Term | 10 years | ||||
Purchase Agreement, Earnout Payments, Guaranteed | $ 20,100,000 | ||||
Purchase Agreement, Earnout Payments, Guaranteed, Year One | 6,700,000 | ||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | 86,700,000 | ||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax, Guaranteed Consideration | 16,500,000 | ||||
Warrants Issued During Period, Value Issued, Asset Sale | 3,300,000 | ||||
Sale of Assets, Legal and Other Fees Related to the Sale | 2,000,000 | ||||
Sale of Assets, Net Balance Sheet Dispositions and Write-offs | $ 800,000 | 800,000 | |||
Discontinued Operation, Tax Effect of Gain (Loss) from Disposal of Discontinued Operation | $ 6,500,000 | ||||
Purchase Agreement, Earnout Payments, Guaranteed, Year Three | 6,700,000 | ||||
Purchase Agreement, Earnout Payments, Guaranteed, Year Two | $ 6,700,000 |
Note 3 - Discontinued Operati37
Note 3 - Discontinued Operations - Discontinued Operations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Accounts and other receivables | $ 1,598,994 | ||||
Inventory, net | 1,374,618 | ||||
Prepaid expenses | 170,635 | ||||
Assets associated with discontinued operations, current | 3,144,247 | ||||
Property and equipment, net of accumulated depreciation | 70,973 | ||||
Patents and trademarks, net of accumulated amortization | 34,282 | ||||
Assets associated with discontinued operations, noncurrent | 105,255 | ||||
Total assets associated with discontinued operations | 3,249,502 | ||||
Accounts payable | 21,255 | 21,255 | 1,957,938 | ||
Accrued liabilities | 33,804 | 33,804 | 607,659 | ||
Deferred revenue | 2,300,000 | ||||
Liabilities associated with discontinued operations, current | 55,059 | 55,059 | $ 4,865,597 | ||
Lymphoseek sales revenue | 9,663 | $ 4,227,320 | 2,926,876 | $ 8,001,200 | |
Grant and other revenue | 190 | ||||
Total revenue | 9,663 | 4,227,320 | 2,926,876 | 8,001,390 | |
Cost of goods sold | 24,216 | 559,933 | 388,408 | 1,093,373 | |
Gross profit | (14,553) | 3,667,387 | 2,538,468 | 6,908,017 | |
Research and development | 75,196 | 506,370 | 358,729 | 1,093,619 | |
Selling, general and administrative | 1,500,324 | 820,203 | 2,963,858 | ||
Total operating expenses | 75,196 | 2,006,694 | 1,178,932 | 4,057,477 | |
Income (loss) from discontinued operations | (89,749) | 1,660,693 | 1,359,536 | 2,850,540 | |
Interest expense | (7,525,483) | (1,718,506) | (9,719,763) | ||
Loss before income taxes | (89,749) | (5,864,790) | (358,970) | (6,869,223) | |
Benefit from income taxes | 7,373 | 20,733 | |||
Loss from discontinued operations | $ (82,376) | $ (5,864,790) | $ (338,237) | $ (6,869,223) |
Note 4 - Fair Value (Details Te
Note 4 - Fair Value (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Mar. 03, 2017 | Dec. 31, 2016 | |
Derivative Liability | $ 63,000 | $ 63,000 | $ 63,000 | |||
Fair Value, Inputs, Level 1 [Member] | ||||||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | $ 0 | 0 | $ 0 | ||
Fair Value, Inputs, Level 3 [Member] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease) | (13,000) | (1,500,000) | (153,000) | (2,600,000) | ||
Fair Value, Inputs, Level 2 [Member] | ||||||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | 0 | 0 | 0 | 0 | ||
PPCO [Member] | Platinum Loan Agreement [Member] | ||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease) | 13,000 | $ 1,500,000 | 153,000 | $ 2,600,000 | ||
Convertible Debt | $ 1,900,000 | |||||
Convertible Debt, Fair Value Disclosures | $ 0 | $ 0 | $ 153,000 |
Note 4 - Fair Value - Financial
Note 4 - Fair Value - Financial Liabilities Measured At Fair Value On a Recurring Basis (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Liability related to MT warrants | $ 63,000 | $ 63,000 |
Fair Value, Measurements, Recurring [Member] | ||
Liability related to MT warrants | 63,000 | 63,000 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liability related to MT warrants | ||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liability related to MT warrants | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Liability related to MT warrants | 63,000 | 63,000 |
PPCO [Member] | Platinum Loan Agreement [Member] | ||
Platinum conversion option | 0 | 153,000 |
PPCO [Member] | Platinum Loan Agreement [Member] | Fair Value, Measurements, Recurring [Member] | ||
Platinum conversion option | 153,000 | |
PPCO [Member] | Platinum Loan Agreement [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Platinum conversion option | ||
PPCO [Member] | Platinum Loan Agreement [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Platinum conversion option | ||
PPCO [Member] | Platinum Loan Agreement [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||
Platinum conversion option | $ 153,000 |
Note 4 - Fair Value - Assumptio
Note 4 - Fair Value - Assumptions Used (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Estimated volatility | 72.00% | 76.00% |
Expected term (Year) | 65 days | 4 years 273 days |
Debt rate | 8.125% | 8.125% |
Beginning stock price (in dollars per share) | $ 0.51 | $ 0.64 |
Note 5 - Stock-based Compensa41
Note 5 - Stock-based Compensation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Allocated Share-based Compensation Expense | $ 109,000 | $ (79,000) | $ 256,000 | $ 261,000 |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | 221,000 | $ 221,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 73 days | |||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ 0 | $ 0 | $ 0 | $ 0 |
Note 5 - Stock-based Compensa42
Note 5 - Stock-based Compensation - Summary of Stock Option Activity (Details) | 6 Months Ended |
Jun. 30, 2017USD ($)$ / sharesshares | |
Outstanding at beginning of period (in shares) | shares | 3,380,615 |
Outstanding at beginning of period, weighted average exercise price (in dollars per share) | $ / shares | $ 2 |
Granted (in shares) | shares | 1,390,000 |
Granted, weighted average exercise price (in dollars per share) | $ / shares | $ 0.75 |
Exercised (in shares) | shares | |
Exercised, weighted average exercise price (in dollars per share) | $ / shares | |
Canceled and Forfeited (in shares) | shares | (528,198) |
Canceled and Forfeited, weighted average exercise price (in dollars per share) | $ / shares | $ 1.59 |
Expired (in shares) | shares | |
Expired, weighted average exercise price (in dollars per share) | $ / shares | |
Outstanding at end of period (in shares) | shares | 4,242,417 |
Outstanding at end of period, weighted average exercise price (in dollars per share) | $ / shares | $ 1.64 |
Outstanding at end of period, weighted average remaining contractual life (Year) | 6 years 328 days |
Outstanding at end of period | $ | $ 7,400 |
Exercisable at end of period (in shares) | shares | 2,748,183 |
Exercisable at end of period, weighted average exercise price (in dollars per share) | $ / shares | $ 2.08 |
Exercisable at end of period, weighted average remaining contractual life (Year) | 5 years 146 days |
Exercisable at end of period | $ | $ 7,400 |
Note 5 - Stock-based Compensa43
Note 5 - Stock-based Compensation - Summary of Unvested Restricted Stock (Details) - Restricted Stock [Member] | 6 Months Ended |
Jun. 30, 2017$ / sharesshares | |
Unvested at beginning of period (in shares) | shares | 207,000 |
Unvested at beginning of period, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 1.17 |
Granted (in shares) | shares | 200,000 |
Granted, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 0.51 |
Vested (in shares) | shares | (207,000) |
Vested, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 1.17 |
Unvested at end of period, weighted average grant-date fair value (in dollars per share) | $ / shares | $ 0.51 |
Forfeited (in shares) | shares | |
Forfeited, weighted average grant-date fair value (in dollars per share) | $ / shares | |
Unvested at end of period (in shares) | shares | 200,000 |
Note 6 - Earnings (Loss) Per 44
Note 6 - Earnings (Loss) Per Share (Details Textual) - shares | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Stock Options, Warrants, Convertible Debt, and Convertible Preferred Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 15,700,000 | 14,700,000 |
Restricted Stock [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 200,000 | 257,000 |
Note 6 - Earnings (Loss) Per 45
Note 6 - Earnings (Loss) Per Share - Earnings (Loss) Per Share (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Weighted average shares outstanding (basic) (in shares) | 161,910,792 | 155,382,368 | 161,147,873 | 155,345,231 |
Dilutive shares related to warrants (in shares) | 4,283,127 | |||
Unvested restricted stock (in shares) | 200,000 | |||
Weighted average shares outstanding, diluted (in shares) | 161,910,792 | 155,382,368 | 165,631,000 | 155,345,231 |
Note 7 - Inventory - Components
Note 7 - Inventory - Components of Inventory (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Materials | $ 94,500 | |
Work-in-process | 1,708 | |
Finished goods | 748 | |
Reserves | (748) | |
Total | $ 96,208 |
Note 8 - Investment in Macrop47
Note 8 - Investment in Macrophage Therapeutics, Inc. (Details Textual) - USD ($) | 1 Months Ended | 6 Months Ended | |||
Jan. 31, 2017 | May 31, 2016 | Dec. 31, 2015 | Mar. 31, 2015 | Jun. 30, 2017 | |
Reclassification of Funds Invested | $ 200,000 | $ 200,000 | |||
MT [Member] | |||||
Convertible Preferred Stock, Conversion Price, Market Cap | $ 500,000,000 | ||||
Convertible Preferred Stock, PIK Coupon, Percentage | 10.00% | ||||
MT [Member] | Chief Executive Officer [Member] | |||||
Payments to Acquire Businesses and Interest in Affiliates | $ 200,000 | ||||
MT [Member] | Platinum [Member] | |||||
Payments to Acquire Businesses and Interest in Affiliates | $ 200,000 | $ 200,000 | $ 300,000 |
Note 9 - Accounts Payable, Ac48
Note 9 - Accounts Payable, Accrued Liabilities and Other (Details Textual) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Accounts Payable, Portion Under Dispute | $ 210,000 | |
Accounts Payable [Member] | Director Fees and Scientific Advisory Board Fees [Member] | ||
Due to Related Parties, Current | 1,000 | $ 116,000 |
Accrued Liabilities and Other [Member] | Executive Bonuses, Director Fees, Deferred Salary, and Scientific Advisory Board Fees [Member] | ||
Due to Related Parties, Current | $ 64,000 | $ 106,000 |
Note 10 - Notes Payable (Detail
Note 10 - Notes Payable (Details Textual) - USD ($) | Mar. 03, 2017 | Jun. 22, 2016 | Dec. 31, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Feb. 28, 2017 | May 31, 2015 | Jul. 31, 2012 |
Interest Expense, Debt | $ 43,000 | $ 7,500,000 | $ 1,800,000 | $ 9,700,000 | |||||||
Amortization of Debt Discount (Premium) | 0 | 5,000 | 0 | 78,000 | |||||||
Paid-in-Kind Interest | 40,000 | 352,000 | 182,680 | 1,176,931 | |||||||
CRG Loan Agreement, Ohio Case [Member] | |||||||||||
Release of Cash Held in Escrow | $ 2,000,000 | ||||||||||
CRG Loan Agreement, Texas Case [Member] | |||||||||||
Release of Cash Held in Escrow | 3,000,000 | ||||||||||
Term Loan Agreement [Member] | Cardinal Health 414 [Member] | |||||||||||
Letters of Credit Outstanding, Amount | 7,000,000 | ||||||||||
Term Loan Agreement [Member] | CRG [Member] | |||||||||||
Letters of Credit Outstanding, Amount | 12,000,000 | ||||||||||
Notes Payable Issued for Prepayment of Insurance Premiums [Member] | IPFS [Member] | |||||||||||
Debt Instrument, Face Amount | $ 348,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.99% | ||||||||||
Debt Instrument, Term | 240 days | ||||||||||
Debt Instrument, Periodic Payment | $ 45,000 | ||||||||||
Notes Payable | 306,000 | 45,000 | 45,000 | ||||||||
Capital Royalty Group, Term Loan [Member] | |||||||||||
Payments to Collection of Collateral on Claims of Default | 778,000 | 778,000 | |||||||||
Payments to Prepayment Premium on Claims of Default | 2,100,000 | 2,100,000 | |||||||||
Debt Instrument, Unamortized Discount | 2,000,000 | 2,000,000 | |||||||||
PPCO [Member] | Platinum Loan Agreement [Member] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 50,000,000 | ||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 153,000 | 0 | 0 | ||||||||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Period Increase (Decrease) | 13,000 | $ 1,500,000 | 153,000 | 2,600,000 | |||||||
Convertible Debt | 1,900,000 | ||||||||||
Paid-in-Kind Interest | 183,000 | $ 624,000 | |||||||||
Notes Payable | 9,487,822 | $ 1,952,912 | $ 1,952,912 | ||||||||
Repayments of Debt | 7,700,000 | ||||||||||
CRG [Member] | Term Loan Agreement [Member] | |||||||||||
Debt Instrument, Final Payoff Amount, Threshold Above Which the Reporting Entity Will First Pay Without Resorting to Letter of Credit | 59,000,000 | ||||||||||
Debt Instrument, Face Amount | $ 50,000,000 | ||||||||||
Debt Instrument, Additional Loans That May Be Made Available Upon the Satisfaction of Certain Conditions | $ 10,000,000 | ||||||||||
Paid-in-Kind Interest | $ 519,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 14.00% | ||||||||||
Notes Payable | 51,700,000 | ||||||||||
Primary Bank Account Cash Taken Possession Of By Creditor | $ 4,100,000 | ||||||||||
Repayments of Debt | 59,000,000 | ||||||||||
CRG [Member] | Term Loan Agreement [Member] | Minimum [Member] | |||||||||||
Debt Instrument, Agreed-upon Final Payoff Amount | 47,000,000 | ||||||||||
CRG [Member] | Term Loan Agreement [Member] | Maximum [Member] | |||||||||||
Debt Instrument, Agreed-upon Final Payoff Amount | $ 66,000,000 | ||||||||||
CRG [Member] | Term Loan Agreement [Member] | Accrued Liabilities and Other [Member] | |||||||||||
Interest Payable, Current | $ 5,800,000 |
Note 11 - Terminated Lease Li50
Note 11 - Terminated Lease Liability (Details Textual) - Lease Termination of Blazer [Member] - USD ($) | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 01, 2017 | May 31, 2017 | |
Terminated Lease Liability | $ 815,005 | $ 944,000 | $ 943,675 |
Selling, General and Administrative Expenses [Member] | |||
Gain (Loss) on Contract Termination | (394,000) | ||
Gain (Loss) on Disposition of Assets | $ (706,000) |
Note 11 - Terminated Lease Li51
Note 11 - Terminated Lease Liability - Summary of Changes in Terminated Lease Liability (Details) - Lease Termination of Blazer [Member] | 1 Months Ended |
Jun. 30, 2017USD ($) | |
Total liability, June 1, 2017 (date of sublease) | $ 943,675 |
Payment of finder’s fee | (81,378) |
Payments under Blazer lease | (47,292) |
Total liability, June 30, 2017 | $ 815,005 |
Note 12 - Commitments and Con52
Note 12 - Commitments and Contingencies (Details Textual) - USD ($) | May 16, 2017 | May 12, 2017 | Mar. 03, 2017 | Oct. 11, 2016 | Jun. 22, 2016 | Jun. 30, 2017 |
CRG Loan Agreement, Ohio Case [Member] | ||||||
Release of Cash Held in Escrow | $ 2,000,000 | |||||
CRG Loan Agreement, Texas Case [Member] | ||||||
Release of Cash Held in Escrow | 3,000,000 | |||||
Former CEO Arbitration [Member] | ||||||
Litigation Settlement, Salary, Bonus, and Benefits, Amount Awarded to Other Party | $ 481,039 | |||||
Litigation Settlement, Amount Awarded to Other Party | $ 617,880 | |||||
FTI Consulting, Inc. Litigation [Member] | Pending Litigation [Member] | Investigative and Consulting Services [Member] | ||||||
Litigation Settlement, Amount Awarded to Other Party | $ 435,000 | |||||
Loss Contingency, Damages Sought, Value | $ 730,264 | 862,164.90 | ||||
Minimum [Member] | FTI Consulting, Inc. Litigation [Member] | Pending Litigation [Member] | ||||||
Loss Contingency, Damages Sought, Value | 782,600 | |||||
Minimum [Member] | FTI Consulting, Inc. Litigation [Member] | Pending Litigation [Member] | Purported Interest Due on Unpaid Invoices, Plus Attorneys' Fees, Costs and Expenses [Member] | ||||||
Loss Contingency, Damages Sought, Value | $ 52,337 | |||||
Maximum [Member] | Sinotau Litigation [Member] | Pending Litigation [Member] | ||||||
Loss Contingency, Estimate of Possible Loss | $ 7,000,000 | |||||
Term Loan Agreement [Member] | Cardinal Health 414 [Member] | ||||||
Letters of Credit Outstanding, Amount | 7,000,000 | |||||
Term Loan Agreement [Member] | CRG [Member] | ||||||
Letters of Credit Outstanding, Amount | 12,000,000 | |||||
CRG [Member] | Term Loan Agreement [Member] | ||||||
Primary Bank Account Cash Taken Possession Of By Creditor | $ 4,100,000 | |||||
Primary Bank Account Cash Taken Possession Of By Creditor, Portion Applied to Fees | 3,900,000 | |||||
Primary Bank Account Cash Taken Possession Of By Creditor, Portion Applied to the Principal Balance of Debt | $ 189,000 | |||||
Repayments of Debt | 59,000,000 | |||||
Debt Instrument, Final Payoff Amount, Threshold Above Which the Reporting Entity Will First Pay Without Resorting to Letter of Credit | 59,000,000 | |||||
CRG [Member] | Term Loan Agreement [Member] | Minimum [Member] | ||||||
Debt Instrument, Agreed-upon Final Payoff Amount | 47,000,000 | |||||
CRG [Member] | Term Loan Agreement [Member] | Maximum [Member] | ||||||
Debt Instrument, Agreed-upon Final Payoff Amount | $ 66,000,000 |
Note 13 - Equity Instruments (D
Note 13 - Equity Instruments (Details Textual) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Stock Issued During Period, Value, Issued for Services | $ 10,500 | |
Common Stock [Member] | ||
Stock Issued During Period, Value, Issued for Services | $ 17 | |
Stock Issued During Period, Shares, Issued for Services | 16,406 | |
Director [Member] | Common Stock [Member] | ||
Stock Issued During Period, Value, Issued for Services | $ 10,500 | $ 34,820 |
Stock Issued During Period, Shares, Issued for Services | 16,406 | 29,069 |
Employees [Member] | Common Stock [Member] | ||
Stock Issued During Period, Value, Issued for Services | $ 369,342 | |
Stock Issued During Period, Shares, Issued for Services | 710,353 |
Note 14 - Stock Warrants (Detai
Note 14 - Stock Warrants (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | |
Mar. 31, 2017 | Jan. 31, 2017 | Mar. 31, 2017 | Jun. 30, 2017 | |
Series NN Warrants [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 77.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.00% | |||
Class of Warrant or Right, Term | 5 years | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.50 | $ 1.50 | ||
Series NN Warrants [Member] | Cardinal Health 414 [Member] | ||||
Class of Warrant or Right, Grants in Period, Estimated Fair Value | $ 3,300,000 | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 10,000,000 | 10,000,000 | ||
Series NN Warrants [Member] | UCSD [Member] | ||||
Class of Warrant or Right, Grants in Period, Estimated Fair Value | $ 334,000 | $ 334,000 | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,000,000 | 1,000,000 | 1,000,000 | |
Warrants to Purchase Navidea Common Stock [Member] | ||||
Class of Warrant or Right, Outstanding | 16,900,000 | |||
Warrants to Purchase Navidea Common Stock [Member] | Minimum [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.01 | |||
Class of Warrant or Right, Outstanding Term | 1 year | |||
Warrants to Purchase Navidea Common Stock [Member] | Maximum [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3.04 | |||
Class of Warrant or Right, Outstanding Term | 18 years | |||
Warrants to Purchase Navidea Common Stock [Member] | Weighted Average [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.19 | |||
Warrants to Purchase MT Common Stock [Member] | ||||
Class of Warrant or Right, Outstanding | 300 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2,000 | |||
Chief Executive Officer [Member] | ||||
Class of Warrant or Right, Exercises in Period | 5,411,850 | |||
Stock Issued During Period, Shares, Issued for Exercise of Warrants | 5,411,850 | |||
Proceeds from Warrant Exercises | $ 54,119 |
Note 15 - Income Taxes (Details
Note 15 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, Percent | 34.00% | 0.00% | |||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | ||
Income Tax Expense (Benefit) | (1,631,234) | $ 0 | (3,085,406) | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||
Operating Loss Carryforwards | 128,800,000 | 128,800,000 | |||
State and Local Jurisdiction [Member] | |||||
Operating Loss Carryforwards | $ 16,300,000 | $ 16,300,000 |
Note 16 - Segments (Details Tex
Note 16 - Segments (Details Textual) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016USD ($) | ||
Depreciation, Depletion and Amortization, Nonproduction | [1] | $ 70,539 | $ 94,184 | $ 147,329 | $ 169,150 |
Revenues | $ 611,599 | $ 1,167,160 | $ 1,191,629 | 2,115,645 | |
Number of Primary Types of Products Sold | 2 | 2 | |||
Intersegment Eliminations [Member] | |||||
Revenues | $ 0 | $ 0 | |||
[1] | Depreciation and amortization is reflected in selling, general and administrative expenses ($70,539 and $94,184 for the three-month periods ended June 30, 2017 and 2016 and $147,329 and $169,150 for the six-month periods ended June 30, 2017 and 2016, respectively). |
Note 16 - Segments - Segment In
Note 16 - Segments - Segment Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | ||
Other income, excluding equity in loss of R-NAV, LLC (4) | [1] | $ 1,427,078 | $ 2,515,902 | |||
Equity in loss of R-NAV, LLC | (2,920) | (15,159) | ||||
Other income | 40,848 | 1,424,158 | (1,130,261) | 2,500,743 | ||
Income tax benefit (expense) | 1,631,234 | 0 | 3,085,406 | |||
Net income (loss) from continuing operations | (3,151,777) | (816,517) | (6,016,392) | (3,498,333) | ||
Loss from discontinued operations, net of tax | (82,376) | (5,864,790) | (338,237) | (6,869,223) | ||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | (1,953,378) | 86,748,123 | ||||
Net income | (5,187,531) | (6,681,307) | 80,393,494 | (10,367,556) | ||
Total assets, net of depreciation and amortization | 25,902,215 | 25,902,215 | $ 12,461,676 | |||
Capital expenditures | 8,170 | 1,847 | 8,170 | 1,847 | ||
Tc 99m tilmanocept sales revenue | 4,399 | 13,199 | ||||
Tc 99m tilmanocept license revenue | 100,000 | 245,950 | 100,000 | 500,000 | ||
Grant and other revenue | 511,599 | 916,811 | 1,091,629 | 1,602,446 | ||
Revenues | 611,599 | 1,167,160 | 1,191,629 | 2,115,645 | ||
Cost of goods sold, excluding depreciation and amortization | 807 | 2,296 | ||||
Research and development expenses, excluding depreciation and amortization | 1,185,874 | 2,019,211 | 1,891,148 | 4,091,482 | ||
Selling, general and administrative expenses, excluding depreciation and amortization (1) | [2] | 4,179,045 | 1,293,633 | 7,124,689 | 3,851,793 | |
Depreciation, Depletion and Amortization, Nonproduction | [3] | 70,539 | 94,184 | 147,329 | 169,150 | |
Income (loss) from operations (3) | [4] | (4,823,859) | (2,240,675) | (7,971,537) | (5,999,076) | |
UNITED STATES | ||||||
Total assets, net of depreciation and amortization | 25,801,110 | 8,360,199 | 25,801,110 | 8,360,199 | ||
Tc 99m tilmanocept sales revenue | ||||||
Non-US [Member] | ||||||
Total assets, net of depreciation and amortization | 101,105 | 321,950 | 101,105 | 321,950 | ||
Tc 99m tilmanocept sales revenue | 4,399 | 13,199 | ||||
Diagnostics Segment [Member] | ||||||
Other income, excluding equity in loss of R-NAV, LLC (4) | [1] | |||||
Equity in loss of R-NAV, LLC | ||||||
Other income | ||||||
Income tax benefit (expense) | 201,125 | 146,296 | ||||
Net income (loss) from continuing operations | (388,601) | (792,984) | (285,270) | (1,676,459) | ||
Loss from discontinued operations, net of tax | (82,376) | (5,864,790) | (338,237) | (6,869,223) | ||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | (1,953,378) | 86,748,123 | ||||
Net income | (2,424,355) | (6,657,774) | 86,124,616 | (8,545,682) | ||
Capital expenditures | ||||||
Tc 99m tilmanocept license revenue | 100,000 | 245,950 | 100,000 | 500,000 | ||
Grant and other revenue | 418,375 | 865,359 | 989,737 | 1,550,994 | ||
Revenues | 518,375 | 1,115,708 | 1,089,737 | 2,064,193 | ||
Cost of goods sold, excluding depreciation and amortization | 807 | 2,296 | ||||
Research and development expenses, excluding depreciation and amortization | 1,108,101 | 1,907,885 | 1,521,303 | 3,738,356 | ||
Selling, general and administrative expenses, excluding depreciation and amortization (1) | [2] | |||||
Depreciation, Depletion and Amortization, Nonproduction | [3] | |||||
Income (loss) from operations (3) | [4] | (589,726) | (792,984) | (431,566) | (1,676,459) | |
Diagnostics Segment [Member] | UNITED STATES | ||||||
Total assets, net of depreciation and amortization | 16,373,919 | 4,774,933 | 16,373,919 | 4,774,933 | ||
Tc 99m tilmanocept sales revenue | ||||||
Diagnostics Segment [Member] | Non-US [Member] | ||||||
Total assets, net of depreciation and amortization | 98,806 | 321,359 | 98,806 | 321,359 | ||
Tc 99m tilmanocept sales revenue | 4,399 | 13,199 | ||||
Therapeutics Segment [Member] | ||||||
Other income, excluding equity in loss of R-NAV, LLC (4) | [1] | |||||
Equity in loss of R-NAV, LLC | ||||||
Other income | ||||||
Income tax benefit (expense) | (4,089) | 92,861 | ||||
Net income (loss) from continuing operations | 7,900 | (64,304) | (181,075) | (305,506) | ||
Loss from discontinued operations, net of tax | ||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ||||||
Net income | 7,900 | (64,304) | (181,075) | (305,506) | ||
Capital expenditures | ||||||
Tc 99m tilmanocept license revenue | ||||||
Grant and other revenue | 93,224 | 51,452 | 101,892 | 51,452 | ||
Revenues | 93,224 | 51,452 | 101,892 | 51,452 | ||
Cost of goods sold, excluding depreciation and amortization | ||||||
Research and development expenses, excluding depreciation and amortization | 77,773 | 111,326 | 369,845 | 353,126 | ||
Selling, general and administrative expenses, excluding depreciation and amortization (1) | [2] | 3,462 | 4,430 | 5,983 | 3,832 | |
Depreciation, Depletion and Amortization, Nonproduction | [3] | |||||
Income (loss) from operations (3) | [4] | 11,989 | (64,304) | (273,936) | (305,506) | |
Therapeutics Segment [Member] | UNITED STATES | ||||||
Total assets, net of depreciation and amortization | 16,002 | 36,841 | 16,002 | 36,841 | ||
Tc 99m tilmanocept sales revenue | ||||||
Therapeutics Segment [Member] | Non-US [Member] | ||||||
Total assets, net of depreciation and amortization | ||||||
Tc 99m tilmanocept sales revenue | ||||||
Corporate Segment [Member] | ||||||
Other income, excluding equity in loss of R-NAV, LLC (4) | [1] | 1,427,078 | 2,515,902 | |||
Equity in loss of R-NAV, LLC | (2,920) | (15,159) | ||||
Other income | 40,848 | (1,130,261) | ||||
Income tax benefit (expense) | 1,434,198 | 2,846,249 | ||||
Net income (loss) from continuing operations | (2,771,076) | 40,771 | (5,550,047) | (1,516,368) | ||
Loss from discontinued operations, net of tax | ||||||
Discontinued Operation, Gain (Loss) on Disposal of Discontinued Operation, Net of Tax | ||||||
Net income | (2,771,076) | 40,771 | (5,550,047) | (1,516,368) | ||
Capital expenditures | 8,170 | 1,847 | 8,170 | 1,847 | ||
Tc 99m tilmanocept license revenue | ||||||
Grant and other revenue | ||||||
Revenues | ||||||
Cost of goods sold, excluding depreciation and amortization | ||||||
Research and development expenses, excluding depreciation and amortization | ||||||
Selling, general and administrative expenses, excluding depreciation and amortization (1) | [2] | 4,175,583 | 1,289,203 | 7,118,706 | 3,847,961 | |
Depreciation, Depletion and Amortization, Nonproduction | [3] | 70,539 | 94,184 | 147,329 | 169,150 | |
Income (loss) from operations (3) | [4] | (4,246,122) | (1,383,387) | (7,266,035) | (4,017,111) | |
Corporate Segment [Member] | UNITED STATES | ||||||
Total assets, net of depreciation and amortization | 9,411,189 | 3,548,425 | 9,411,189 | 3,548,425 | ||
Tc 99m tilmanocept sales revenue | ||||||
Corporate Segment [Member] | Non-US [Member] | ||||||
Total assets, net of depreciation and amortization | 2,299 | 591 | 2,299 | 591 | ||
Tc 99m tilmanocept sales revenue | ||||||
[1] | Amounts consist primarily of changes in fair value of financial instruments and losses on debt extinguishment, which are not currently allocated to our individual reportable segments. | |||||
[2] | General and administrative expenses, excluding depreciation and amortization, represent costs that relate to the general administration of the Company and as such are not currently allocated to our individual reportable segments. | |||||
[3] | Depreciation and amortization is reflected in selling, general and administrative expenses ($70,539 and $94,184 for the three-month periods ended June 30, 2017 and 2016 and $147,329 and $169,150 for the six-month periods ended June 30, 2017 and 2016, respectively). | |||||
[4] | Income (loss) from operations does not reflect the allocation of certain selling, general and administrative expenses, excluding depreciation and amortization, to our individual reportable segments. |
Note 17 - Supplemental Disclo58
Note 17 - Supplemental Disclosure for Statements of Cash Flows (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jan. 31, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Interest Paid | $ 7,400,000 | $ 4,200,000 | |||
Reclassification of Funds Invested | $ 200,000 | $ 200,000 | |||
Stock Issued During Period, Shares, Employee Benefit Plan | 105,308 | ||||
Issuance of Stock to Defined Contribution Plan for Employer Matching Contribution | $ 53,707 | ||||
Series NN Warrants [Member] | UCSD [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,000,000 | 1,000,000 | |||
Class of Warrant or Right, Grants in Period, Estimated Fair Value | $ 334,000 | $ 334,000 | |||
Capital Royalty Group, Term Loan [Member] | |||||
Payments to Collection of Collateral on Claims of Default | $ 778,000 | 778,000 | |||
Payments to Prepayment Premium on Claims of Default | $ 2,100,000 | $ 2,100,000 |