Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | May 11, 2021 | |
Document Information [Line Items] | ||
Entity Registrant Name | ThermoGenesis Holdings, Inc. | |
Entity Central Index Key | 0000811212 | |
Trading Symbol | thmo | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 11,911,784 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, $.001 par value |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 10,014,000 | $ 7,161,000 |
Accounts receivable, net of allowance for doubtful accounts of $214,000 and at December 31, 2020 | 826,000 | 1,382,000 |
Inventories | 5,334,000 | 5,877,000 |
Prepaid expenses and other current assets | 730,000 | 878,000 |
Total current assets | 16,904,000 | 15,298,000 |
Inventories, non-current | 2,486,000 | 1,221,000 |
Equipment and leasehold improvements, net | 1,337,000 | 1,424,000 |
Right-of-use operating lease assets, net | 693,000 | 730,000 |
Goodwill | 781,000 | 781,000 |
Other intangible assets, net | 1,342,000 | 1,358,000 |
Other assets | 48,000 | 48,000 |
Total assets | 23,591,000 | 20,860,000 |
Current liabilities: | ||
Accounts payable | 1,328,000 | 1,366,000 |
Accrued payroll and related expenses | 473,000 | 349,000 |
Deferred revenue – short-term | 696,000 | 608,000 |
Convertible promissory note – related party, net | 6,762,000 | |
Interest payable – related party | 550,000 | 2,082,000 |
Note payable – short-term | 447,000 | |
Other current liabilities | 682,000 | 1,291,000 |
Total current liabilities | 10,491,000 | 6,143,000 |
Convertible promissory note – related party, net | 5,935,000 | |
Convertible promissory note, net | 572,000 | 493,000 |
Note payable | 199,000 | |
Operating lease obligations – long-term | 558,000 | 604,000 |
Deferred revenue – long-term | 1,520,000 | 1,596,000 |
Other noncurrent liabilities | 20,000 | 20,000 |
Total liabilities | 13,161,000 | 14,990,000 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 2,000,000 shares authorized, none outstanding | ||
Common stock, $0.001 par value; 350,000,000 shares authorized; 11,911,784 issued and outstanding (8,934,952 at December 31, 2020) | 12,000 | 9,000 |
Additional paid in capital | 266,145,000 | 259,058,000 |
Accumulated deficit | (255,696,000) | (253,283,000) |
Accumulated other comprehensive loss | 17,000 | 16,000 |
Total ThermoGenesis Holdings, Inc. stockholders’ equity | 10,478,000 | 5,800,000 |
Noncontrolling interests | (48,000) | 70,000 |
Total equity | 10,430,000 | 5,870,000 |
Total liabilities and equity | $ 23,591,000 | $ 20,860,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 214,000 | $ 214,000 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
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) | 350,000,000 | 350,000,000 |
Common stock, shares issued (in shares) | 11,911,784 | 8,934,952 |
Common stock, shares outstanding (in shares) | 11,911,784 | 8,934,952 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net revenues | $ 1,517,000 | $ 3,200,000 |
Cost of revenues | 809,000 | 1,708,000 |
Gross profit | 708,000 | 1,492,000 |
Expenses: | ||
Selling, general and administrative | 1,992,000 | 2,092,000 |
Research and development | 379,000 | 609,000 |
Total operating expenses | 2,371,000 | 2,701,000 |
Loss from operations | (1,663,000) | (1,209,000) |
Other income (expenses): | ||
Interest expense | (1,519,000) | (3,531,000) |
Other income (expenses) | (1,000) | (3,000) |
Gain on extinguishment of debt | 652,000 | |
Total other expenses | (868,000) | (3,534,000) |
Net loss | (2,531,000) | (4,743,000) |
Loss attributable to noncontrolling interests | (118,000) | (141,000) |
Net loss attributable to common stockholders | (2,413,000) | (4,602,000) |
Net loss | (2,531,000) | (4,743,000) |
Other comprehensive loss: | ||
Foreign currency translation gain | 1,000 | 38,000 |
Comprehensive loss | (2,530,000) | (4,705,000) |
Comprehensive loss attributable to noncontrolling interests | (118,000) | (141,000) |
Comprehensive loss attributable to common stockholders | $ (2,412,000) | $ (4,564,000) |
Per share data: | ||
Basic and diluted net loss per common share (in dollars per share) | $ (0.21) | $ (1.11) |
Weighted average common shares outstanding basic and diluted (in shares) | 11,446,366 | 4,135,644 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Equity (Unaudited) - USD ($) | At The Market Offering Agreement [Member]Common Stock [Member] | At The Market Offering Agreement [Member]Additional Paid-in Capital [Member] | At The Market Offering Agreement [Member]Retained Earnings [Member] | At The Market Offering Agreement [Member]AOCI Attributable to Parent [Member] | At The Market Offering Agreement [Member]Noncontrolling Interest [Member] | At The Market Offering Agreement [Member] | Registered Direct Offering [Member]Common Stock [Member] | Registered Direct Offering [Member]Additional Paid-in Capital [Member] | Registered Direct Offering [Member]Retained Earnings [Member] | Registered Direct Offering [Member]AOCI Attributable to Parent [Member] | Registered Direct Offering [Member]Noncontrolling Interest [Member] | Registered Direct Offering [Member] | Boyalife Asset Holding II [Member]Common Stock [Member] | Boyalife Asset Holding II [Member]Additional Paid-in Capital [Member] | Boyalife Asset Holding II [Member]Retained Earnings [Member] | Boyalife Asset Holding II [Member]AOCI Attributable to Parent [Member] | [1] | Boyalife Asset Holding II [Member]Noncontrolling Interest [Member] | Boyalife Asset Holding II [Member] | 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, 2019 | 2,843,601 | |||||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 3,000 | $ 237,313,000 | $ (236,932,000) | $ 2,000 | [1] | $ 530,000 | $ 916,000 | |||||||||||||||||||
Stock-based compensation expense | 67,000 | 67,000 | ||||||||||||||||||||||||
Issuance of common stock (in shares) | 50,746 | 1,000,002 | ||||||||||||||||||||||||
Issuance of common stock | $ 114,000 | $ 114,000 | $ 1,000 | $ 3,106,000 | $ 3,107,000 | |||||||||||||||||||||
Foreign currency translation gain (loss) | 38,000 | 38,000 | ||||||||||||||||||||||||
Net loss | (4,602,000) | [1] | (141,000) | (4,743,000) | ||||||||||||||||||||||
Exercise of pre-funded warrants (in shares) | 100,000 | |||||||||||||||||||||||||
Exercise of pre-funded warrants | 10,000 | [1] | 10,000 | |||||||||||||||||||||||
Exercise of warrants (in shares) | 7,866 | |||||||||||||||||||||||||
Exercise of warrants | 47,000 | [1] | 47,000 | |||||||||||||||||||||||
Discount due to beneficial conversion features | 1,869,000 | [1] | 1,869,000 | |||||||||||||||||||||||
Conversion of note payable to common stock (in shares) | 1,666,670 | 100,000 | ||||||||||||||||||||||||
Conversion of note payable to common stock | $ 2,000 | $ 2,998,000 | $ 3,000,000 | 180,000 | [1] | 180,000 | ||||||||||||||||||||
Foreign currency translation gain | 38,000 | 38,000 | ||||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2020 | 5,768,885 | |||||||||||||||||||||||||
Balance at Mar. 31, 2020 | $ 6,000 | 245,704,000 | (241,534,000) | 40,000 | 389,000 | 4,605,000 | ||||||||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 8,934,952 | |||||||||||||||||||||||||
Balance at Dec. 31, 2020 | $ 9,000 | 259,058,000 | (253,283,000) | 16,000 | [1] | 70,000 | 5,870,000 | |||||||||||||||||||
Stock-based compensation expense | 258,000 | [1] | 258,000 | |||||||||||||||||||||||
Issuance of common stock (in shares) | 2,976,832 | 2,976,832 | ||||||||||||||||||||||||
Issuance of common stock | $ 3,000 | $ 6,829,000 | $ 6,832,000 | |||||||||||||||||||||||
Foreign currency translation gain (loss) | 1,000 | [1] | 1,000 | |||||||||||||||||||||||
Net loss | (2,413,000) | [1] | (118,000) | (2,531,000) | ||||||||||||||||||||||
Foreign currency translation gain | 1,000 | [1] | 1,000 | |||||||||||||||||||||||
Balance (in shares) at Mar. 31, 2021 | 11,911,784 | |||||||||||||||||||||||||
Balance at Mar. 31, 2021 | $ 12,000 | $ 266,145,000 | $ (255,696,000) | $ 17,000 | [1] | $ (48,000) | $ 10,430,000 | |||||||||||||||||||
[1] | Accumulated other comprehensive loss. |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (2,531,000) | $ (4,743,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 166,000 | 199,000 |
Stock-based compensation expense | 258,000 | 67,000 |
Amortization of debt discount/premium | 908,000 | 522,000 |
Amortization of accelerated debt discount due to conversion | 2,486,000 | |
Reserve for excess and slow-moving inventories | (4,000) | 6,000 |
Reserve for bad debt expense | 1,000 | |
Gain on extinguishment of debt | (652,000) | |
Net change in operating assets and liabilities: | ||
Accounts receivable | 556,000 | (752,000) |
Inventories | (718,000) | (400,000) |
Prepaid expenses and other assets | 148,000 | 330,000 |
Accounts payable | (38,000) | 1,035,000 |
Interest payable – related party | (1,532,000) | (1,426,000) |
Accrued payroll and related expenses | 124,000 | 118,000 |
Deferred revenue – short term | 88,000 | (3,000) |
Other current liabilities | (603,000) | 129,000 |
Long-term deferred revenue and other noncurrent liabilities | (122,000) | (110,000) |
Net cash used in operating activities | (3,952,000) | (2,541,000) |
Cash flows from investing activities: | ||
Capital expenditures | (27,000) | (23,000) |
Net cash used in investing activities | (27,000) | (23,000) |
Cash flows from financing activities: | ||
Proceeds from convertible promissory note-related party | 1,869,000 | |
Payment on finance lease obligations | (13,000) | |
Proceeds from issuance of common stock, net of expenses | 6,832,000 | 3,220,000 |
Proceeds from the exercise of options, warrants and pre-funded warrants | 57,000 | |
Net cash provided by financing activities | 6,832,000 | 5,133,000 |
Effects of foreign currency rate changes on cash and cash equivalents | (5,000) | |
Net increase (decrease) in cash, cash equivalents and restricted cash | 2,853,000 | 2,562,000 |
Cash, cash equivalents and restricted cash at beginning of period | 7,161,000 | 4,157,000 |
Cash, cash equivalents and restricted cash at end of period | 10,014,000 | 6,719,000 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 2,142,000 | 1,950,000 |
Supplemental non-cash financing and investing information: | ||
Recording of beneficial conversion feature on debt | 1,869,000 | |
Conversion of Related Party Convertible Promissory Note Into Common Stock [Member] | ||
Supplemental non-cash financing and investing information: | ||
Related party promissory note converted to common stock | 3,000,000 | |
Conversion of January 2019 Amended Notes to Common Stock [Member] | ||
Supplemental non-cash financing and investing information: | ||
Related party promissory note converted to common stock | $ 180,000 |
Note 1 - Description of Busines
Note 1 - Description of Business and Basis of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. DESCRIPTION OF BUSINESS AND BASIS OF PRESENTATION Description of Business ThermoGenesis Holdings, Inc. (“ThermoGenesis Holdings,” the “Company,” “we,” “our,” “us”), develops, commercializes and markets a range of automated technologies for CAR-T and other cell-based therapies. The Company currently markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology, including its semi-automated, functionally closed CAR-TXpress™ platform, which streamlines the manufacturing process for the emerging CAR-T immunotherapy market. The Company was founded in 1986 The Company provides the AutoXpress® and BioArchive® platforms for automated clinical bio-banking, PXP® platform for point-of-care cell-based therapies and CAR-TXpress™ platform for bio-manufacturing for immuno-oncology applications. The Company and its subsidiaries currently manufacture and market the following products: Clinical Bio-Banking Applications: ● AXP® 510 ● BioArchive® Automated Cryopreservation System – an automated, robotic, liquid nitrogen controlled-rate-freezing and cryogenic storage system for cord blood samples and cell therapeutic products used in clinical applications, registered as a U.S. FDA 510 Point-of-Care Applications: ● PXP® 510 ● PXP-LAVARE System – an automated, fully closed system that is designed to wash, re-suspend and volume reduce cell suspensions. It allows for volume manipulation, supernatant or media exchange, and cell washing to occur without comprising cell viabilities and maximizing recoveries, registered as a U.S. FDA 510 ● PXP- 1000 510 Large Scale Cell Processing and Biomanufacturing: ● X X X X X ● CAR-TXpress™ Platform – a modular designed, functionally closed platform that addresses the critical unmet need for large scale cellular processing and chemistry, manufacturing and controls (“CMC”) needs for manufacturing chimeric antigen receptor (“CAR”) T cell therapies. The CAR-TXpress Platform is owned and developed through a subsidiary CAR-TXpress Bio, Inc. (“CARTXpress Bio”) in which the Company owns 80% Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP) for interim financial information and with the instructions to Form 10 8 X. Operating results for the three March 31, 2021 not may December 31, 2021. 10 December 31, 2020. Principles of Consolidation The consolidated financial statements include the accounts of ThermoGenesis Holdings and its wholly-owned subsidiaries, ThermoGenesis Corp. and TotipotentRX Cell Therapy, Pvt. Ltd and ThermoGenesis Corp's majority-owned subsidiary, CARTXpress Bio. All significant intercompany accounts and transactions have been eliminated upon consolidation. The 20% not 80% |
Note 2 - Going Concern
Note 2 - Going Concern | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 2. GOING CONCERN At March 31, 2021, $10,014,000 $6,413,000. March 31, 2021 $255,696,000. one may may The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern; however, the above conditions raise substantial doubt about the Company's ability to do so. The condensed consolidated financial statements do not may |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no 2020 Recently Adopted Accounting Standards In December 2019, 2019 12 Income Taxes (Topic 740 2019 12 740 December 15, 2020. not three March 31, 2021 not In January 2020, 2020 01, Investments Equity Securities (Topic 321 Equity Method and Joint Ventures (Topic 323 815 321, 323, 815 December 15, 2020, not Revenue Recognition Revenue is recognized based on the five 606: Disaggregation of Revenue The Company's primary revenue streams include device sales and service revenue from device maintenance contracts, as summarized in the following table: Three Months Ended March 31, 2021 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 225,000 $ 39,000 $ -- $ 264,000 BioArchive 208,000 542,000 -- 750,000 CAR-TXpress 255,000 28,000 71,000 354,000 Manual Disposables 129,000 -- -- 129,000 Other 7,000 -- 13,000 20,000 Total $ 824,000 $ 609,000 $ 84,000 $ 1,517,000 Three Months Ended March 31, 2020 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 2,208,000 $ 24,000 $ -- $ 2,232,000 BioArchive 164,000 332,000 -- 496,000 CAR-TXpress 152,000 12,000 71,000 235,000 Manual Disposables 203,000 -- -- 203,000 Other 14,000 -- 20,000 34,000 Total $ 2,741,000 $ 368,000 $ 91,000 $ 3,200,000 Performance Obligations In most cases, there is no no Payments from domestic customers are normally due in two may 120 no Contract Balances Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not three March 31, 2021 $273,000. $696,000 $608,000 March 31, 2021 December 31, 2020, $1,520,000 $1,596,000 March 31, 2021 December 31, 2020, Exclusivity Fee On August 30, 2019, five two X $2,000,000 three March 31, 2021 2020, $71,000 $2,000,000 $1,548,000 $286,000 $1,262,000 Backlog of Remaining Customer Performance Obligations The following table includes revenue expected to be recognized and recorded as sales in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. Remainder of 2021 2022 2023 2024 2025 and beyond Total Service revenue $ 1,013,000 $ 804,000 $ 412,000 $ 152,000 $ 85,000 $ 2,466,000 Clinical revenue 10,000 13,000 13,000 13,000 162,000 211,000 Exclusivity fee 214,000 286,000 286,000 286,000 476,000 1,548,000 Total $ 1,237,000 $ 1,103,000 $ 711,000 $ 451,000 $ 723,000 $ 4,225,000 Revenues are net of normal discounts. Shipping and handling fees billed to customers are included in net revenues, while the related costs are included in cost of revenues. Fair Value Measurements In accordance with ASC 820, Fair Value Measurements and Disclosures The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the factors that market participants would use in valuing the asset or liability. The guidance establishes three may Level 1: Level 2: Level 3: no The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short duration. The fair value of the Company's derivative obligation liability is classified as Level 3 Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not three March 31, 2021, one |
Note 4 - Net Loss Per Share
Note 4 - Net Loss Per Share | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. NET LOSS PER SHARE Net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding plus the pre-funded warrants. For the purpose of calculating basic net loss per share, the additional shares of common stock that are issuable upon exercise of the pre-funded warrants have been included since the shares are issuable for a negligible consideration and have no 224,445 March 31, 2020 The calculation of the basic and diluted earnings per share is the same for all periods presented, as the effect of the potential common stock equivalents noted below is anti-dilutive due to the Company's net loss position for all periods presented. Anti-dilutive securities consisted of the following at March 31: 2021 2020 Common stock equivalents of convertible promissory note and accrued interest 6,449,950 5,159,496 Vested Series A warrants -- 40,441 Unvested Series A warrants (1) -- 69,853 Warrants – other 653,248 1,273,461 Stock options 889,636 287,849 Total 7,992,834 6,831,100 ___________ ( 1 The unvested Series A warrants were subject to vesting based upon the amount of funds actually received by the Company in the second August 2015 February 2021. |
Note 5 - Related Party Transact
Note 5 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 5. RELATED PARTY TRANSACTIONS HealthBanks Biotech (USA) Inc. On November 26, 2019 80% 20% Between November 26, 2019 September 30, 2020, 75.16% 18.79% 6.05% In March 2021, 12,000,000 500,000 18.79% 8.64%. none $262,000 March 31, 2021, $428,000 no March 31, 2021. For the quarter ended March 31, 2021 2020, $0 $13,000, March 31, 2021, $0. March 31, 2021, $253,000, $3,514,000 $2,375,000. Convertible Promissory Note and Revolving Credit Agreement In March 2017, $10,000,000 March 6, 2022 ( March 31, 2021 December 31, 2020, $10,000,000. The Credit Agreement and the Convertible Promissory Note issued thereunder (as amended, the “Note”) provide that the principal and all accrued and unpaid interest under the Loan will be due and payable on the Maturity Date, with payments of interest-only due on the last day of each calendar year. The Loan bears interest at 22% five January 2021, December 31, 2020 $2,082,000. The Credit Agreement and Note were amended in April 2018, $16.10 2018, $1.80. The following summarizes the Note: Maturity Date Stated Interest Rate Conversion Price Face Value Remaining Debt Discount Carrying Value At March 31, 2021 3/6/2022 22% $ 1.80 $ 10,000,000 $ (3,238,000 ) $ 6,762,000 At December 31, 2020 3/6/2022 22% $ 1.80 $ 10,000,000 $ (4,065,000 ) $ 5,935,000 The Company amortized $827,000 $546,000 three March 31, 2021 2020, $550,000 $443,000 three March 31, 2021 2020, March 31, 2021 December 31, 2020 $550,000 $2,082,000, |
Note 6 - Convertible Promissory
Note 6 - Convertible Promissory Notes | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. CONVERTIBLE PROMISSORY NOTE July 2019 On July 23, 2019, $1,000,000 “July 2019 July 2019 $1.80 90% $0.50 July 2019 twenty-four 24% July 2019 three July 31, 2022. The following summarizes the July 2019 Maturity Date Stated Interest Rate Conversion Price Face Value Remaining Debt Discount Carrying Value At March 31, 2021 7/31/2022 24% $ 1.80 $ 1,000,000 $ (428,000 ) $ 572,000 At December 31, 2020 7/31/2022 24% $ 1.80 $ 1,000,000 $ (507,000 ) $ 493,000 The Company recorded amortization expense of $80,000 July 2019 three March 31, 2021 $60,000 three March 31, 2021 2020. |
Note 7 - Leases
Note 7 - Leases | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 7. LEASES The Company leases an approximately 28,000 first 2019 May 2024. Operating Leases Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not not The following summarizes the Company's operating leases: March 31, 2021 December 31, 2020 Right-of-use operating lease assets, net $ 693,000 $ 730,000 Current lease liability (included in other current liabilities) 168,000 157,000 Non-current lease liability 558,000 604,000 Weighted average remaining lease term 3.2 3.4 Discount rate 22 % 22 % Maturities of lease liabilities by year for our operating leases are as follows: 2021 (Remaining) $ 234,000 2022 319,000 2023 328,000 2024 139,000 Total lease payments $ 1,020,000 Less: imputed interest (294,000 ) Present value of operating lease liabilities $ 726,000 Statement of Cash Flows In January 2019, $966,000 $76,000 $74,000 March 31, 2021 2020, Operating Lease Costs Operating lease costs were $109,000 $103,000 March 31, 2021 2020, Finance Leases Finance leases are included in equipment and other current and non-current liabilities on the condensed consolidated balance sheet. The amortization and interest expense are included in general and administrative expense and interest expense, respectively on the statement of operations. These leases were not March 31, 2021 March 31, 2020. |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 8. COMMITMENTS AND CONTINGENCIES Contingencies In the normal course of operations, the Company may March 31, 2021, may not Financial Covenants On July 13, 2020, #2 July 13, 2020 ( May 15, 2017 #1 March 16, 2020 one $1,000,000 March 31, 2021. Warranty The Company offers a warranty on all of its non-disposable products of one two The warranty liability is included in other current liabilities in the unaudited condensed consolidated balance sheets. The change in the warranty liability for the three March 31, 2021 Balance at December 31, 2020 $ 154,000 Warranties issued during the period 6,000 Settlements made during the period (66,000 ) Changes in liability for pre-existing warranties during the period 12,000 Balance at March 31, 2021 $ 106,000 |
Note 9 - Payment Protection Pro
Note 9 - Payment Protection Program | 3 Months Ended |
Mar. 31, 2021 | |
Paycheck Protection Program CARES Act [Member] | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 9. PAYMENT PROTECTION PROGRAM On April 21, 2020, $646,000 two 1.00% first six may may December 2020, March 30, 2021 three March 31, 2021, $652,000 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 10. STOCKHOLDERS EQUITY Common Stock On December 13, 2019, may $4,400,000 May 19, 2020 $15,280,313 March 31, 2021, 5,597,484 $15,280,000 $2.73 $14,568,000 $712,000. three March 31, 2021, 2,976,832 $6,832,000 $224,000 Stock Based Compensation The Company recorded stock-based compensation of $258,000 $67,000 three March 31, 2021 2020, Three Months Ended March 31, 2021 2020 Cost of goods sold $ 5,000 $ -- Sales, general and administrative 216,000 52,000 Research and development 37,000 15,000 $ 258,000 $ 67,000 The following is a summary of option activity for the Company's stock option plans: Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2020 889,636 $ 8.57 Forfeited -- Outstanding at March 31, 2021 889,636 8.57 8.5 $ -- Vested and expected to vest at March 31, 2021 631,053 $ 9.54 8.3 $ -- Exercisable at March 31, 2021 230,836 $ 15.21 7.2 $ -- The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company's common stock. There were no three March 31, 2021. Warrants A summary of warrant activity for the three March 31, 2021 Number of Shares Weighted-Average Exercise Price Per Share Weighted- Average Remaining Contract Term Balance at December 31, 2020 1,116,484 $ 37.27 0.49 Warrants expired 463,236 Warrants exercised -- $ -- Outstanding at March 31, 2021 653,248 $ 6.97 2.20 Exercisable at March 31, 2021 653,248 $ 6.97 2.20 |
Note 11 - Major Customers and A
Note 11 - Major Customers and Accounts Receivable | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 11. MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE The Company had certain customers whose revenue individually represented 10% 10% For the three March 31, 2021 2020, one 21% 2% second 15% 6% third 3% 50%, At March 31, 2021, three 67% December 31, 2020, three 72% |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 12. SUBSEQUENT EVENTS The Company has evaluated events subsequent to the balance sheet date for inclusion in the accompanying consolidated financial statements through the date of issuance and determined that no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In December 2019, 2019 12 Income Taxes (Topic 740 2019 12 740 December 15, 2020. not three March 31, 2021 not In January 2020, 2020 01, Investments Equity Securities (Topic 321 Equity Method and Joint Ventures (Topic 323 815 321, 323, 815 December 15, 2020, not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Revenue is recognized based on the five 606: Disaggregation of Revenue The Company's primary revenue streams include device sales and service revenue from device maintenance contracts, as summarized in the following table: Three Months Ended March 31, 2021 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 225,000 $ 39,000 $ -- $ 264,000 BioArchive 208,000 542,000 -- 750,000 CAR-TXpress 255,000 28,000 71,000 354,000 Manual Disposables 129,000 -- -- 129,000 Other 7,000 -- 13,000 20,000 Total $ 824,000 $ 609,000 $ 84,000 $ 1,517,000 Three Months Ended March 31, 2020 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 2,208,000 $ 24,000 $ -- $ 2,232,000 BioArchive 164,000 332,000 -- 496,000 CAR-TXpress 152,000 12,000 71,000 235,000 Manual Disposables 203,000 -- -- 203,000 Other 14,000 -- 20,000 34,000 Total $ 2,741,000 $ 368,000 $ 91,000 $ 3,200,000 Performance Obligations In most cases, there is no no Payments from domestic customers are normally due in two may 120 no Contract Balances Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not three March 31, 2021 $273,000. $696,000 $608,000 March 31, 2021 December 31, 2020, $1,520,000 $1,596,000 March 31, 2021 December 31, 2020, Exclusivity Fee On August 30, 2019, five two X $2,000,000 three March 31, 2021 2020, $71,000 $2,000,000 $1,548,000 $286,000 $1,262,000 Backlog of Remaining Customer Performance Obligations The following table includes revenue expected to be recognized and recorded as sales in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. Remainder of 2021 2022 2023 2024 2025 and beyond Total Service revenue $ 1,013,000 $ 804,000 $ 412,000 $ 152,000 $ 85,000 $ 2,466,000 Clinical revenue 10,000 13,000 13,000 13,000 162,000 211,000 Exclusivity fee 214,000 286,000 286,000 286,000 476,000 1,548,000 Total $ 1,237,000 $ 1,103,000 $ 711,000 $ 451,000 $ 723,000 $ 4,225,000 Revenues are net of normal discounts. Shipping and handling fees billed to customers are included in net revenues, while the related costs are included in cost of revenues. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements In accordance with ASC 820, Fair Value Measurements and Disclosures The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the factors that market participants would use in valuing the asset or liability. The guidance establishes three may Level 1: Level 2: Level 3: no The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short duration. The fair value of the Company's derivative obligation liability is classified as Level 3 |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not three March 31, 2021, one |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2021 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 225,000 $ 39,000 $ -- $ 264,000 BioArchive 208,000 542,000 -- 750,000 CAR-TXpress 255,000 28,000 71,000 354,000 Manual Disposables 129,000 -- -- 129,000 Other 7,000 -- 13,000 20,000 Total $ 824,000 $ 609,000 $ 84,000 $ 1,517,000 Three Months Ended March 31, 2020 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 2,208,000 $ 24,000 $ -- $ 2,232,000 BioArchive 164,000 332,000 -- 496,000 CAR-TXpress 152,000 12,000 71,000 235,000 Manual Disposables 203,000 -- -- 203,000 Other 14,000 -- 20,000 34,000 Total $ 2,741,000 $ 368,000 $ 91,000 $ 3,200,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Remainder of 2021 2022 2023 2024 2025 and beyond Total Service revenue $ 1,013,000 $ 804,000 $ 412,000 $ 152,000 $ 85,000 $ 2,466,000 Clinical revenue 10,000 13,000 13,000 13,000 162,000 211,000 Exclusivity fee 214,000 286,000 286,000 286,000 476,000 1,548,000 Total $ 1,237,000 $ 1,103,000 $ 711,000 $ 451,000 $ 723,000 $ 4,225,000 |
Note 4 - Net Loss Per Share (Ta
Note 4 - Net Loss Per Share (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | 2021 2020 Common stock equivalents of convertible promissory note and accrued interest 6,449,950 5,159,496 Vested Series A warrants -- 40,441 Unvested Series A warrants (1) -- 69,853 Warrants – other 653,248 1,273,461 Stock options 889,636 287,849 Total 7,992,834 6,831,100 |
Note 5 - Related Party Transa_2
Note 5 - Related Party Transactions (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Maturity Date Stated Interest Rate Conversion Price Face Value Remaining Debt Discount Carrying Value At March 31, 2021 3/6/2022 22% $ 1.80 $ 10,000,000 $ (3,238,000 ) $ 6,762,000 At December 31, 2020 3/6/2022 22% $ 1.80 $ 10,000,000 $ (4,065,000 ) $ 5,935,000 |
Note 6 - Convertible Promisso_2
Note 6 - Convertible Promissory Notes (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Convertible Debt [Table Text Block] | Maturity Date Stated Interest Rate Conversion Price Face Value Remaining Debt Discount Carrying Value At March 31, 2021 7/31/2022 24% $ 1.80 $ 1,000,000 $ (428,000 ) $ 572,000 At December 31, 2020 7/31/2022 24% $ 1.80 $ 1,000,000 $ (507,000 ) $ 493,000 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | March 31, 2021 December 31, 2020 Right-of-use operating lease assets, net $ 693,000 $ 730,000 Current lease liability (included in other current liabilities) 168,000 157,000 Non-current lease liability 558,000 604,000 Weighted average remaining lease term 3.2 3.4 Discount rate 22 % 22 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2021 (Remaining) $ 234,000 2022 319,000 2023 328,000 2024 139,000 Total lease payments $ 1,020,000 Less: imputed interest (294,000 ) Present value of operating lease liabilities $ 726,000 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | Balance at December 31, 2020 $ 154,000 Warranties issued during the period 6,000 Settlements made during the period (66,000 ) Changes in liability for pre-existing warranties during the period 12,000 Balance at March 31, 2021 $ 106,000 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended March 31, 2021 2020 Cost of goods sold $ 5,000 $ -- Sales, general and administrative 216,000 52,000 Research and development 37,000 15,000 $ 258,000 $ 67,000 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2020 889,636 $ 8.57 Forfeited -- Outstanding at March 31, 2021 889,636 8.57 8.5 $ -- Vested and expected to vest at March 31, 2021 631,053 $ 9.54 8.3 $ -- Exercisable at March 31, 2021 230,836 $ 15.21 7.2 $ -- |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Weighted-Average Exercise Price Per Share Weighted- Average Remaining Contract Term Balance at December 31, 2020 1,116,484 $ 37.27 0.49 Warrants expired 463,236 Warrants exercised -- $ -- Outstanding at March 31, 2021 653,248 $ 6.97 2.20 Exercisable at March 31, 2021 653,248 $ 6.97 2.20 |
Note 1 - Description of Busin_2
Note 1 - Description of Business and Basis of Presentation (Details Textual) - CAR-TXpress [Member] | Mar. 31, 2021 |
Noncontrolling Interest, Ownership Percentage by Parent | 80.00% |
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 10,014,000 | $ 7,161,000 |
Working Capital | 6,413,000 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (255,696,000) | $ (253,283,000) |
Note 3 - Summary of Significa_3
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Aug. 30, 2019 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 |
Contract with Customer, Liability, Revenue Recognized | $ 273,000 | |||
Contract with Customer, Liability, Current | 696,000 | $ 608,000 | ||
Contract with Customer, Liability, Noncurrent | 1,520,000 | $ 1,596,000 | ||
Exclusivity Fee [Member] | ||||
Contract with Customer, Liability, Revenue Recognized | 71,000 | $ 71,000 | ||
Contract with Customer, Liability, Current | 286,000 | |||
Contract with Customer, Liability, Noncurrent | 1,262,000 | |||
Contract with Customer, Liability, Total | 1,548,000 | |||
Supply Agreement [Member] | ||||
Supply Agreement, Term (Year) | 5 years | |||
Supply Agreement, Renewal Term (Year) | 2 years | |||
Contract with Customer, Liability, Total | $ 2,000,000 | |||
Proceeds from Customers | $ 2,000,000 |
Note 3 - Summary of Significa_4
Note 3 - Summary of Significant Accounting Policies - Revenues (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net revenues | $ 1,517,000 | $ 3,200,000 |
Device [Member] | AXP [Member] | ||
Net revenues | 264,000 | 2,232,000 |
Device [Member] | BioArchive [Member] | ||
Net revenues | 750,000 | 496,000 |
Device [Member] | CAR-TXpress [Member] | ||
Net revenues | 354,000 | 235,000 |
Device [Member] | Manual Disposables [Member] | ||
Net revenues | 129,000 | 203,000 |
Device [Member] | Other Subsegments [Member] | ||
Net revenues | 20,000 | 34,000 |
Device Revenue [Member] | ||
Net revenues | 824,000 | 2,741,000 |
Device Revenue [Member] | Device [Member] | AXP [Member] | ||
Net revenues | 225,000 | 2,208,000 |
Device Revenue [Member] | Device [Member] | BioArchive [Member] | ||
Net revenues | 208,000 | 164,000 |
Device Revenue [Member] | Device [Member] | CAR-TXpress [Member] | ||
Net revenues | 255,000 | 152,000 |
Device Revenue [Member] | Device [Member] | Manual Disposables [Member] | ||
Net revenues | 129,000 | 203,000 |
Device Revenue [Member] | Device [Member] | Other Subsegments [Member] | ||
Net revenues | 7,000 | 14,000 |
Service [Member] | ||
Net revenues | 609,000 | 368,000 |
Service [Member] | Device [Member] | AXP [Member] | ||
Net revenues | 39,000 | 24,000 |
Service [Member] | Device [Member] | BioArchive [Member] | ||
Net revenues | 542,000 | 332,000 |
Service [Member] | Device [Member] | CAR-TXpress [Member] | ||
Net revenues | 28,000 | 12,000 |
Service [Member] | Device [Member] | Manual Disposables [Member] | ||
Net revenues | ||
Service [Member] | Device [Member] | Other Subsegments [Member] | ||
Net revenues | ||
Other [Member] | ||
Net revenues | 84,000 | 91,000 |
Other [Member] | Device [Member] | AXP [Member] | ||
Net revenues | ||
Other [Member] | Device [Member] | BioArchive [Member] | ||
Net revenues | ||
Other [Member] | Device [Member] | CAR-TXpress [Member] | ||
Net revenues | 71,000 | 71,000 |
Other [Member] | Device [Member] | Manual Disposables [Member] | ||
Net revenues | ||
Other [Member] | Device [Member] | Other Subsegments [Member] | ||
Net revenues | $ 13,000 | $ 20,000 |
Note 3 - Summary of Significa_5
Note 3 - Summary of Significant Accounting Policies - Remaining Performance Obligations (Details) | Mar. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 4,225,000 |
Service [Member] | |
Revenue, Remaining Performance Obligation, Amount | 2,466,000 |
Clinical Revenue [Member] | |
Revenue, Remaining Performance Obligation, Amount | 211,000 |
Exclusivity Fee [Member] | |
Revenue, Remaining Performance Obligation, Amount | $ 1,548,000 |
Note 3 - Summary of Significa_6
Note 3 - Summary of Significant Accounting Policies - Remaining Performance Obligations 2 (Details) | Mar. 31, 2021USD ($) |
Revenue, Remaining Performance Obligation, Amount | $ 4,225,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 273 days |
Revenue, Remaining Performance Obligation, Amount | $ 1,237,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 1,103,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 711,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 451,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 723,000 |
Service [Member] | |
Revenue, Remaining Performance Obligation, Amount | $ 2,466,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 273 days |
Revenue, Remaining Performance Obligation, Amount | $ 1,013,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 804,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 412,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 152,000 |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 85,000 |
Clinical Revenue [Member] | |
Revenue, Remaining Performance Obligation, Amount | $ 211,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 273 days |
Revenue, Remaining Performance Obligation, Amount | $ 10,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 13,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 13,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 13,000 |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 162,000 |
Exclusivity Fee [Member] | |
Revenue, Remaining Performance Obligation, Amount | $ 1,548,000 |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-04-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 273 days |
Revenue, Remaining Performance Obligation, Amount | $ 214,000 |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 286,000 |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 286,000 |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 286,000 |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year |
Revenue, Remaining Performance Obligation, Amount | $ 476,000 |
Note 4 - Net Loss Per Share (De
Note 4 - Net Loss Per Share (Details Textual) - shares | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 7,992,834 | 6,831,100 |
Warrant [Member] | ||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 224,445 |
Note 4 - Net Loss Per Share - A
Note 4 - Net Loss Per Share - Anti-dilutive Securities (Details) - shares | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | ||
Anti-dilutive securities (in shares) | 7,992,834 | 6,831,100 | |
Convertible Debt Securities [Member] | |||
Anti-dilutive securities (in shares) | 6,449,950 | 5,159,496 | |
Vested Series A Warrants [Member] | |||
Anti-dilutive securities (in shares) | 40,441 | ||
Unvested Series A Warrants [Member] | |||
Anti-dilutive securities (in shares) | [1] | 69,853 | |
Warrant, Other [Member] | |||
Anti-dilutive securities (in shares) | 653,248 | 1,273,461 | |
Share-based Payment Arrangement, Option [Member] | |||
Anti-dilutive securities (in shares) | 889,636 | 287,849 | |
[1] | The unvested Series A warrants were subject to vesting based upon the amount of funds actually received by the Company in the second close of the August 2015 financing which never occurred. The warrants remained outstanding but unvested until they expired in February 2021. |
Note 5 - Related Party Transa_3
Note 5 - Related Party Transactions (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||
Mar. 31, 2021 | Mar. 31, 2021 | Mar. 17, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Sep. 30, 2020 | Apr. 28, 2020 | Nov. 26, 2019 | Dec. 31, 2018 | Apr. 16, 2018 | Mar. 31, 2017 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | $ (2,531,000) | $ (4,743,000) | |||||||||
Assets, Current, Total | $ 16,904,000 | 16,904,000 | $ 15,298,000 | ||||||||
Liabilities, Current, Total | $ 10,491,000 | 10,491,000 | $ 6,143,000 | ||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 2,142,000 | 1,950,000 | |||||||||
Amortization of Debt Discount (Premium) | $ 908,000 | 522,000 | |||||||||
Boyalife Asset Holding II [Member] | Convertible Debt [Member] | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22.00% | 22.00% | 22.00% | ||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 1.80 | $ 1.80 | $ 1.80 | $ 1.80 | $ 16.10 | ||||||
Boyalife Asset Holding II [Member] | Revolving Credit Facility [Member] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 | ||||||||||
Long-term Line of Credit, Total | $ 10,000,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22.00% | ||||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 2,082,000 | ||||||||||
Amortization of Debt Discount (Premium) | $ 827,000 | 546,000 | |||||||||
Interest Payable | $ 550,000 | 550,000 | $ 443,000 | ||||||||
Interest Expense, Debt, Excluding Amortization | $ 550,000 | $ 2,082,000 | |||||||||
ImmuneCyte and Shangai KDWinfo Technology Co. Ltd. [Member] | Boyalife’s Cellular Therapy Division [Member] | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 12,000,000 | ||||||||||
ImmuneCyte [Member] | Boyalife’s Cellular Therapy Division [Member] | |||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 500,000 | ||||||||||
ImmuneCyte [Member] | |||||||||||
Equity Method Investment, Ownership Percentage | 8.64% | 8.64% | 18.79% | 20.00% | |||||||
Dilution Gain from Equity Method Investments | $ 262,000 | ||||||||||
Equity Method Investment Accumulated Gain Loss | (428,000) | ||||||||||
Income (Loss) from Equity Method Investments, Total | 0 | $ 13,000 | |||||||||
Equity Method Investment, Aggregate Cost | $ 0 | 0 | |||||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | (253,000) | ||||||||||
Assets, Current, Total | 3,514,000 | 3,514,000 | |||||||||
Liabilities, Current, Total | $ 2,375,000 | $ 2,375,000 | |||||||||
ImmuneCyte [Member] | HealthBanks Biotech [Member] | |||||||||||
Equity Method Investment, Ownership Percentage | 75.16% | 80.00% | |||||||||
ImmuneCyte [Member] | Private Institution [Member] | |||||||||||
Equity Method Investment, Ownership Percentage | 6.05% |
Note 5 - Related Party Transa_4
Note 5 - Related Party Transactions - Summarizes the Note (Details) - Boyalife Asset Holding II [Member] - Convertible Debt [Member] - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2018 | Apr. 16, 2018 | |
Debt Instrument, Maturity Date | Mar. 6, 2022 | Mar. 6, 2022 | ||
State interest rate | 22.00% | 22.00% | ||
Conversion price (in dollars per share) | $ 1.80 | $ 1.80 | $ 1.80 | $ 16.10 |
Face value | $ 10,000,000 | $ 10,000,000 | ||
Remaining debt discount | (3,238,000) | (4,065,000) | ||
Carrying Value | $ 6,762,000 | $ 5,935,000 |
Note 6 - Convertible Promisso_3
Note 6 - Convertible Promissory Notes (Details Textual) - USD ($) | Jul. 23, 2019 | Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 |
Amortization of Debt Discount (Premium) | $ 908,000 | $ 522,000 | ||
Convertible Debt [Member] | The July 2019 Note [Member] | ||||
Debt Instrument, Face Amount | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | |
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 1.80 | $ 1.80 | ||
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 90.00% | |||
Debt Instrument, Interest Rate, Stated Percentage | 24.00% | 24.00% | 24.00% | |
Amortization of Debt Discount (Premium) | $ 80,000 | |||
Interest Expense, Debt, Total | $ 60,000 | $ 60,000 | ||
Convertible Debt [Member] | The July 2019 Note [Member] | Maximum [Member] | ||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 1.80 | |||
Convertible Debt [Member] | The July 2019 Note [Member] | Minimum [Member] | ||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 0.50 |
Note 6 - Convertible Promisso_4
Note 6 - Convertible Promissory Notes - Convertible Promissory Notes (Details) - Convertible Debt [Member] - The July 2019 Note [Member] - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | Jul. 23, 2019 | |
Maturity Date | Jul. 31, 2022 | Jul. 31, 2022 | |
Stated Interest Rate | 24.00% | 24.00% | 24.00% |
Conversion Price (in dollars per share) | $ 1.80 | $ 1.80 | |
Face Value | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 |
Remaining debt discount | (428,000) | (507,000) | |
Carrying Value | $ 572,000 | $ 493,000 |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) - USD ($) | 3 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | Jan. 01, 2019 | |
Operating Lease, Right-of-Use Asset | $ 693,000 | $ 730,000 | ||
Operating Lease, Payments | 76,000 | $ 74,000 | ||
Operating Lease, Cost | $ 109,000 | $ 103,000 | ||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 966,000 |
Note 7 - Leases - Lease Informa
Note 7 - Leases - Lease Information (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Right-of-use operating lease assets, net | $ 693,000 | $ 730,000 |
Non-current lease liability | $ 558,000 | $ 604,000 |
Weighted average remaining lease term (Year) | 3 years 73 days | 3 years 146 days |
Discount rate | 22.00% | 22.00% |
Current Liabilities [Member] | ||
Current lease liability (included in other current liabilities) | $ 168,000 | $ 157,000 |
Note 7 - Leases - Maturities of
Note 7 - Leases - Maturities of Lease Liabilities (Details) | Mar. 31, 2021USD ($) |
2021 (Remaining) | $ 234,000 |
2022 | 319,000 |
2023 | 328,000 |
2024 | 139,000 |
Total lease payments | 1,020,000 |
Less: imputed interest | (294,000) |
Present value of operating lease liabilities | $ 726,000 |
Note 8 - Commitments and Cont_3
Note 8 - Commitments and Contingencies (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Jul. 13, 2020 | |
Short Term Investment Minimum | $ 1,000,000 | |
Minimum [Member] | ||
Period Of Warranty On Products (Year) | 1 year | |
Maximum [Member] | ||
Period Of Warranty On Products (Year) | 2 years |
Note 8 - Commitments and Cont_4
Note 8 - Commitments and Contingencies - Changes in Product Liability Included in Accrued Liabilities (Details) | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Balance | $ 154,000 |
Warranties issued during the period | 6,000 |
Settlements made during the period | (66,000) |
Changes in liability for pre-existing warranties during the period | 12,000 |
Balance | $ 106,000 |
Note 9 - Payment Protection P_2
Note 9 - Payment Protection Program (Details Textual) - USD ($) | Apr. 21, 2020 | Mar. 31, 2021 | Mar. 31, 2020 |
Gain (Loss) on Extinguishment of Debt, Total | $ 652,000 | ||
Paycheck Protection Program CARES Act [Member] | |||
Proceeds from Issuance of Long-term Debt, Total | $ 646,000 | ||
Gain (Loss) on Extinguishment of Debt, Total | $ 652,000 |
Note 10 - Stockholders' Equit_2
Note 10 - Stockholders' Equity (Details Textual) - USD ($) | 3 Months Ended | 16 Months Ended | |||
Mar. 31, 2021 | Mar. 31, 2020 | Mar. 31, 2021 | May 19, 2020 | Dec. 13, 2019 | |
Proceeds from Issuance of Common Stock, Net | $ 6,832,000 | $ 3,220,000 | |||
Share-based Payment Arrangement, Expense | $ 258,000 | $ 67,000 | |||
At The Market Offering Agreement [Member] | |||||
Maximum Offering Price for Issuance of Common Stock | $ 15,280,313 | $ 4,400,000 | |||
Stock Issued During Period, Shares, New Issues (in shares) | 2,976,832 | 5,597,484 | |||
Proceeds from Issuance of Common Stock | $ 15,280,000 | ||||
Shares Issued, Price Per Share (in dollars per share) | $ 2.73 | $ 2.73 | |||
Proceeds from Issuance of Common Stock, Net | $ 6,832,000 | $ 14,568,000 | |||
Payments of Stock Issuance Costs | $ 224,000 | $ 712,000 |
Note 10 - Stockholders' Equit_3
Note 10 - Stockholders' Equity - Stock-based Compensation (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Stock-based compensation | $ 258,000 | $ 67,000 |
Cost of Sales [Member] | ||
Stock-based compensation | 5,000 | |
Selling, General and Administrative Expenses [Member] | ||
Stock-based compensation | 216,000 | 52,000 |
Research and Development Expense [Member] | ||
Stock-based compensation | $ 37,000 | $ 15,000 |
Note 10 - Stockholders' Equit_4
Note 10 - Stockholders' Equity - Option Activity for Stock Option Plans (Details) | 3 Months Ended |
Mar. 31, 2021USD ($)$ / sharesshares | |
Outstanding, options (in shares) | shares | 889,636 |
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares | $ 8.57 |
Forfeited, options (in shares) | shares | |
Forfeited, weighted average exercise price, options (in dollars per share) | $ / shares | |
Outstanding, options (in shares) | shares | 889,636 |
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares | $ 8.57 |
Outstanding, weighted average remaining contractual life, options (Year) | 8 years 182 days |
Outstanding, aggregate intrinsic value, options | $ | |
Vested and expected to vest, options (in shares) | shares | 631,053 |
Vested and expected to vest, weighted average exercise price, options (in dollars per share) | $ / shares | $ 9.54 |
Vested and expected to vest, weighted average remaining contractual life, options (Year) | 8 years 109 days |
Vested and expected to vest, aggregate intrinsic value, options | $ | |
Exercisable, options (in shares) | shares | 230,836 |
Exercisable, weighted average exercise price, options (in dollars per share) | $ / shares | $ 15.21 |
Exercisable, weighted average remaining contractual life, options (Year) | 7 years 73 days |
Exercisable, aggregate intrinsic value, options | $ |
Note 10 - Stockholders' Equit_5
Note 10 - Stockholders' Equity - Warrant Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 31, 2020 | |
Outstanding (in shares) | 1,116,484 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 37.27 | |
Outstanding, Weighted Average Remaining Contract Term (Year) | 2 years 73 days | 178 days |
Warrants expired (in shares) | 463,236 | |
Warrants expired, weighted average exercise price (in dollars per share) | ||
Warrants exercised (in shares) | ||
Warrants exercised, weighted average exercise price (in dollars per share) | ||
Outstanding (in shares) | 653,248 | 1,116,484 |
Outstanding, weighted average exercise price (in dollars per share) | $ 6.97 | $ 37.27 |
Exercisable (in shares) | 653,248 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 6.97 | |
Exercisable, Weighted Average Remaining Contract Term (Year) | 2 years 73 days |
Note 11 - Major Customers and_2
Note 11 - Major Customers and Accounts Receivable (Details Textual) - Customer Concentration Risk [Member] | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Revenue Benchmark [Member] | Customer 1 [Member] | |||
Concentration Risk, Percentage | 21.00% | 2.00% | |
Revenue Benchmark [Member] | Customer 2 [Member] | |||
Concentration Risk, Percentage | 15.00% | 6.00% | |
Revenue Benchmark [Member] | Customer 3 [Member] | |||
Concentration Risk, Percentage | 3.00% | 50.00% | |
Accounts Receivable [Member] | Three Customers [Member] | |||
Concentration Risk, Percentage | 67.00% | 72.00% |