GeoVax Labs (GOVX) POS AM 16 Mar 16 2015 FY Prospectus update (post-effective amendment) Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 15, 2016	Jun. 30, 2015
Entity Registrant Name	GeoVax Labs, Inc.
Entity Central Index Key	832,489
Trading Symbol	govx
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Common Stock, Shares Outstanding (in shares)		37,015,401
Entity Public Float			$ 4,389,094
Document Type	POS AM
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Series B Convertible Preferred Stock [Member]
Stockholders’ equity:
Convertible Preferred Stock	$ 76,095	$ 76,095
Series C Convertible Preferred Stock [Member]
Stockholders’ equity:
Convertible Preferred Stock	983,941
Cash and cash equivalents	1,060,348	$ 1,101,651
Grant funds receivable	119,978	79,341
Prepaid expenses and other current assets	56,649	44,503
Total current assets	1,236,975	1,225,495
Property and equipment, net	83,608	96,693
Other assets	11,010	11,010
Total assets	1,331,593	1,333,198
Accounts payable	100,935	55,616
Accrued expenses	4,055	52,490
Amounts due to Emory University (a related party) (Note 12)	22,000	78,917
Total current liabilities	$ 126,990	$ 187,023
Commitments (Note 6)
Common stock	$ 31,951	$ 31,951
Additional paid-in capital	32,587,543	30,823,769
Accumulated deficit	(32,474,927)	(29,785,640)
Total stockholders’ equity	1,204,603	1,146,175
Total liabilities and stockholders’ equity	$ 1,331,593	$ 1,333,198

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Series B Convertible Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, shares issued (in shares)	100	100
Preferred stock, shares outstanding (in shares)	100	100
Series C Convertible Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, shares issued (in shares)	3,000	0
Preferred stock, shares outstanding (in shares)	3,000	0
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized (in shares)	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	75,000,000
Common stock, shares issued (in shares)	31,950,813	31,950,813
Common stock, shares outstanding (in shares)	31,950,813	31,950,813

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Grant revenue	$ 428,081	$ 882,956	$ 2,417,550
Operating expenses:
Research and development	1,693,102	1,812,969	2,914,878
General and administrative	1,429,731	1,807,605	1,792,160
Total operating expenses	3,122,833	3,620,574	4,707,038
Loss from operations	(2,694,752)	(2,737,618)	(2,289,488)
Other income:
Interest income	5,465	4,063	4,545
Total other income	5,465	4,063	4,545
Net loss	$ (2,689,287)	$ (2,733,555)	$ (2,284,943)
Basic and diluted:
Loss per common share (in dollars per share)	$ (0.08)	$ (0.10)	$ (0.11)
Weighted average shares outstanding (in shares)	31,950,813	26,645,140	21,212,327

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Series A Convertible Preferred Stock [Member]	Series B Convertible Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2012	788			18,733,277
Balance at Dec. 31, 2012	$ 312,196			$ 18,733	$ 25,587,148	$ (24,767,142)	$ 1,150,935
Sale of common stock for cash upon warrant exercise (in shares)				2,933,333
Sale of common stock for cash upon warrant exercise				$ 2,933	1,640,400		1,643,333
Issuance of common stock for services (in shares)				50,000
Issuance of common stock for services				$ 50	$ 20,450		20,500
Sale of convertible preferred stock for cash (in shares)		1,650
Sale of convertible preferred stock for cash	$ 360,229	$ 1,255,569					$ 1,615,798
Conversion of preferred stock (in shares)	(717)			2,048,570
Conversion of preferred stock to common stock	$ (611,839)			$ 2,049	$ 609,790
Stock-based compensation expense					$ 381,604		$ 381,604
Net loss						$ (2,284,943)	(2,284,943)
Balance (in shares) at Dec. 31, 2013	71	1,650		23,765,180
Balance at Dec. 31, 2013	$ 60,586	$ 1,255,569		$ 23,765	$ 28,239,392	$ (27,052,085)	2,527,227
Sale of common stock for cash upon warrant exercise (in shares)				3,176,000
Sale of common stock for cash upon warrant exercise				$ 3,176	870,224		873,400
Issuance of common stock for services (in shares)				378,205
Issuance of common stock for services				$ 378	99,622		$ 100,000
Conversion of preferred stock (in shares)	(71)	(1,550)		4,631,428
Conversion of preferred stock to common stock	$ (60,586)	$ (1,179,474)		$ 4,632	1,235,428
Stock-based compensation expense					$ 379,103		$ 379,103
Net loss						$ (2,733,555)	(2,733,555)
Balance (in shares) at Dec. 31, 2014		100		31,950,813
Balance at Dec. 31, 2014		$ 76,095		$ 31,951	$ 30,823,769	$ (29,785,640)	1,146,175
Sale of convertible preferred stock for cash (in shares)			3,000
Sale of convertible preferred stock for cash			$ 983,941		1,695,869		2,679,810
Stock-based compensation expense					$ 67,905		67,905
Net loss						$ (2,689,287)	(2,689,287)
Balance (in shares) at Dec. 31, 2015		100	3,000	31,950,813
Balance at Dec. 31, 2015		$ 76,095	$ 983,941	$ 31,951	$ 32,587,543	$ (32,474,927)	$ 1,204,603

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net loss	$ (2,689,287)	$ (2,733,555)	$ (2,284,943)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	28,935	69,037	78,862
Stock-based compensation expense, including common stock issued for services	67,905	479,103	402,104
Changes in assets and liabilities:
Grant funds receivable	(40,637)	61,568	125,339
Prepaid expenses and other current assets	(12,146)	(934)	(1,268)
Accounts payable and accrued expenses	(60,033)	(125,326)	(14,686)
Total adjustments	(15,976)	483,448	590,351
Net cash used in operating activities	(2,705,263)	(2,250,107)	(1,694,592)
Cash flows from investing activities:
Purchase of property and equipment	(15,850)	(35,503)	(86,603)
Net cash used in investing activities	$ (15,850)	(35,503)	(86,603)
Cash flows from financing activities:
Proceeds from sale of common stock		$ 873,400	1,643,333
Proceeds from sale of preferred stock	$ 2,679,810		1,615,798
Net cash provided in financing activities	2,679,810	$ 873,400	3,259,131
Net increase (decrease) in cash and cash equivalents	(41,303)	(1,412,210)	1,477,936
Cash and cash equivalents at beginning of period	1,101,651	2,513,861	1,035,925
Cash and cash equivalents at end of period	$ 1,060,348	$ 1,101,651	$ 2,513,861

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows (Parentheticals) - shares	1 Months Ended	12 Months Ended
	Jan. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Series A Convertible Preferred Stock [Member]
Convertible preferred stock (in shares)	71		71	717	1,412
Common stock conversion (in shares)	202,857	0	202,857	2,048,570	1,882,667
Series B Convertible Preferred Stock [Member]
Convertible preferred stock (in shares)			1,550
Common stock conversion (in shares)		0	4,428,571	0

Note 1 - Description of Busines

Note 1 - Description of Business	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Nature of Operations [Text Block]	1. Description of Business GeoVax Labs, Inc. (“GeoVax” or the “Company”), is a clinical-stage biotechnology company developing human vaccines using our novel vaccine platform. Our vaccine delivery technology generates virus-like particles (VLPs) that are effective at eliciting safe and effective immune responses. Our current development programs are focused on vaccines against Human Immunodeficiency Virus (HIV), hemorrhagic fever viruses (Ebola, Marburg, and Lassa) and Zika virus, and for use in cancer immunotherapy. We believe our technology and vaccine development expertise is well-suited for a variety of human infectious diseases and we intend to pursue further expansion of our product pipeline. Our HIV vaccine technology was developed in collaboration with Emory University, the National Institutes of Health (NIH), and the Centers for Disease Control and Prevention (CDC) and is exclusively licensed to us. GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in Smyrna, Georgia (metropolitan Atlanta area). Our vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants awarded directly to us, as well as indirect support for preclinical animals studies and for the conduct of our human clinical trials. We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain and may take many years and may involve expenditure of substantial resources. Our goal is to build a profitable company by generating income from products we develop and commercialize, either alone or with one or more potential strategic partners.

Note 2 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Summary of Significant Accounting Policies Principles of Consolidation The accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation. Basis of Presentation The accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these consolidated financial statements. We are devoting substantially all of our present efforts to research and development. We have funded our activities to date from government grants and clinical trial assistance, and from sales of our equity securities. We will continue to require substantial funds to continue our research and development activities. We believe that our existing cash resources and grant commitments will be sufficient to fund our planned operations through the second quarter of 2016, but due to our history of operating losses and our continuing need for capital to conduct our research and development activities, there is substantial doubt concerning our ability to operate as a going concern beyond that date. We are currently exploring sources of capital through government grants and clinical trial support and through philanthropic foundation support. We may also secure additional funds through sales of our equity securities or the exercise of currently outstanding stock purchase warrants. Management believes that it will be successful in securing the additional capital required to continue the Company’s planned operations, but that its plans do not fully alleviate the substantial doubt about the Company’s ability to operate as a going concern. Additional funding may not be available on favorable terms or at all. If we fail to obtain additional capital when needed, we may be required to delay, scale back, or eliminate some or all of our research and development programs as well as reduce our general and administrative expenses. Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates. Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Our cash and cash equivalents consist primarily of bank deposits and money market accounts. The recorded values approximate fair market values due to the short maturities. Fair Value of Financial Instruments and Concentration of Credit Risk Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from three to five years. We amortize leasehold improvements using the straight-line method over the term of the related lease. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-02, Leases Impairment of Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows expected to be generated by such assets. If we consider such assets to be impaired, the impairment to be Accrued Liabilities As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not yet been billed by our third party vendors. This process involves identifying services and activities that have been performed by such vendors on our behalf and estimating the level to which they have been performed and the associated cost incurred for such service as of each balance sheet date. Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. Common share equivalents which could potentially dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, totaled approximately 90.3 million, 6.6 million, and 14.4 million at December 31, 2015, 2014 and 2013, respectively. Revenue Recognition We recognize revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 101, Revenue Recognition in Financial Statements, Revenue Recognition, In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers Research and Development Expense Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of (i) fees paid to third-party service providers to perform, monitor and accumulate data related to our preclinical studies and clinical trials, (ii) costs related to sponsored research agreements, (iii) the costs to procure and manufacture materials used in clinical trials, (iv) laboratory supplies and facility-related expenses to conduct development, and (v) salaries, benefits, and stock-based compensation for personnel. These costs are charged to expense as incurred. Patent Costs Our expenditures relating to obtaining and protecting patents are charged to expense when incurred, and are included in general and administrative expense. Period to Period Comparisons Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not be relied upon as predictive of the results for future periods. Income Taxes We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized. Stock-Based Compensation We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the award at the grant date. Compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Compensation cost for stock options or warrants is estimated at the grant date based on each instrument’s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note 9 for additional stock-based compensation information. Recent Accounting Pronouncements Except as discussed above, there have been no recent accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements, nor do we believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on our financial statements.

Note 3 - Property and Equipment

Note 3 - Property and Equipment	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	3. Property and Equipment Property and equipment as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2015 and 2014: 2015 2014 Laboratory equipment $ 525,956 $ 510,106 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 28,685 28,685 Total property and equipment 670,246 654,396 Accumulated depreciation and amortization (586,638 ) (557,703 ) Property and equipment, net $ 83,608 $ 96,693 Depreciation and amortization expense was $28,935, $59,037, and $68,862 during the years ended December 31, 2015, 2014 and 2013, respectively.

Note 4 - Other Assets

Note 4 - Other Assets	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Other Assets Disclosure [Text Block]	4. Other Assets Other assets as shown on the accompanying Consolidated Balance Sheets include the following as of December 31, 2015 and 2014: 2015 2014 Technology licenses $ 248,855 $ 248,855 Accumulated amortization – technology licenses (248,855 ) (248,855 ) Deposits 11,010 11,010 Total other assets $ 11,010 $ 11,010 Amortization expense related to technology licenses was $-0-, $10,000, and $10,000 during the years ended December 31, 2015, 2014 and 2013, respectively.

Note 5 - Government Grants

Note 5 - Government Grants	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Government Grants [Text Block]	5 . Government Grants We record revenue associated with government grants as the related costs and expenses are incurred and such revenue is reported as a separate line item in our statements of operations. Grant revenues relate to grants from the NIH in support of our HIV vaccine development activities. During 2015, 2014, and 2013, we recorded $428,081, $882,956 and $2,417,550, respectively, of aggregate revenue associated with these grants. Additional detail concerning our grant revenues is discussed below. In September 2007, the NIH awarded us an Integrated Preclinical/Clinical AIDS Vaccine Development (IPCAVD) grant entitled “GM-CSF-Adjuvanted Clade C DNA/MVA and MVA/MVA Vaccines”. The aggregate award (including subsequent amendments) totaled approximately $20.4 million. We recorded grant revenues of $75,464, $624,689, and $833,390 for the years ended December 31, 2015, 2014 and 2013, respectively, related to this grant, and all funding pursuant to this grant has been utilized as of December 31, 2015. In September 2012, the NIH awarded us a supplement to the 2007 IPCAVD grant entitled “Immunogens and Manufacturing” to support our HIV/AIDS vaccine development program. The grant award was for approximately $1.9 million. We recorded grant revenues of $-0-, $-0-, and $1,429,597 for the years ended December 31, 2015, 2014 and 2013, respectively, related to this grant, and all funding pursuant to this grant has been utilized as of December 31, 2015. In July 2013, the NIH awarded us a Small Business Innovative Research (SBIR) grant entitled “Enhancing Protective Antibody Responses for a GM-CSF Adjuvanted HIV Vaccine.” The initial grant award was $276,690 for the first year of a two year project period beginning August 1, 2013. In July 2014, the NIH awarded us $289,641 for the second year of the project period. We recorded grant revenues of $153,501, $258,267, and $154,563 for the years ended December 31, 2015, 2014 and 2013, respectively, related to this grant, and all funding pursuant to this grant has been utilized as of December 31, 2015. In June 2015, the NIH awarded us an SBIR grant entitled “Directed Lineage Immunizations for Eliciting Broadly Neutralizing Antibody.” The initial grant award was $299,585 for the first year of a two year project period beginning July 1, 2015. We recorded grant revenue of $199,116 for the year ended December 31, 2015 related to this grant, and there is approximately $100,469 in remaining grant funds available as of December 31, 2015.

Note 6 - Commitments

Note 6 - Commitments	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Commitments Disclosure [Text Block]	6 . Commitments Lease Agreements We lease approximately 8,400 square feet of office and laboratory space located in Smyrna, Georgia (metropolitan Atlanta) pursuant to an operating lease which expires on December 31, 2016, with an additional 12-month renewal option. Rent expense for the years ended December 31, 2015, 2014 and 2013 was $146,092, $117,084, and $117,879, respectively. Future minimum lease payments total $149,042 in 2016. Other Commitments In the normal course of business, we may enter into various firm purchase commitments related to production and testing of our vaccine material, conduct of clinical trials, and other research-related activities. As of December 31, 2015, we had approximately $72,500 of unrecorded outstanding purchase commitments to our vendors and subcontractors, all of which we expect will be due in 2016.

Note 7 - Preferred Stock

Note 7 - Preferred Stock	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Preferred Stock [Text Block]	7 . Preferred Stock Series A Convertible Preferred Stock In March 2012, we issued 2,200 shares of our Series A Convertible Preferred Stock, $1,000 stated value (“Series A Preferred Stock”), and warrants to purchase up to 8,799,999 shares of our common stock for gross proceeds of $2.2 million. Net proceeds, after deduction of placement agent fees and other expenses, were approximately $2.0 million. Each share of Series A Preferred Stock was entitled to a liquidation preference equal to the initial purchase price, had no voting rights, and was not entitled to a dividend. The Series A Preferred Stock was convertible at any time at the option of the holders into shares of our common stock. The initial conversion price was $0.75 and during 2012, 1,412 of the Series A Preferred Shares were converted at this price into an aggregate of 1,882,667 shares of our common stock. Effective December 11, 2013, we amended the designation of the Series A Preferred Stock in connection with the issuance of our Series B Convertible Preferred Stock (see discussion below). The amendment had the effect of reducing the conversion price of the then-outstanding Series A Preferred Stock to $0.35 and during the remainder of 2013, 717 shares of the Series A Preferred Stock were converted at this price into an aggregate of 2,048,570 shares of our common stock. The remaining 71 shares of Series A Preferred Stock were converted into 202,857 shares of our common stock in January 2014, and there are no shares of Series A Preferred Stock outstanding at December 31, 2015. We assessed the Series A Preferred Stock and the related warrants under ASC Topic 480, “ Distinguishing Liabilities from Equity Derivatives and Hedging Debt The following is a summary of the allocation of net proceeds and reconciliation to the carrying value of the Series A Preferred Stock at December 31, 2015: Net proceeds $ 1,999,032 Fair value of warrants (recorded to Additional Paid-in Capital) (1,127,418 ) Beneficial conversion feature (recorded to Additional Paid-in Capital) (762,667 ) Net proceeds allocated to preferred stock 108,947 Accretion of beneficial conversion feature (deemed dividend) 762,667 Initial carrying value of preferred stock 871,614 Accretion of beneficial conversion feature (deemed dividend) related to issuance of Series B Convertible Preferred Stock 360,229 Conversions to common stock during 2012, 2013, and 2014 (1,231,843 ) Carrying value at December 31, 2015 and 2014 $ -0- Series B Convertible Preferred Stock In December 2013, we issued 1,650 shares of our Series B Convertible Preferred Stock, $1,000 stated value (“Series B Preferred Stock”), which was originally convertible into 4,714,286 shares of our common stock, for gross proceeds of $1.65 million. Net proceeds, after deduction of transaction expenses, were approximately $1.6 million. No warrants were issued in connection with the transaction. Each share of Series B Preferred Stock has a liquidation preference equal to the initial purchase price, has no voting rights, and is not entitled to a dividend. The Series B Preferred Stock may be converted at any time at the option of the holders into shares of our common stock at a conversion price of $0.35. During 2014, 1,550 shares of the Series B Preferred Stock were converted into 4,428,571 shares of our common stock; there were no conversions during 2015. As of December 31, 2015, there were 100 shares of Series B Preferred Stock outstanding, convertible into 285,714 shares of our common stock. In conjunction with the issuance of the Series B Preferred Stock, we entered into an agreement with the holders of the Series A Preferred Stock to amend the designation of the Series A Preferred Stock. The amendment had the effect of reducing the conversion price of the then-outstanding 788 Series A Preferred Shares from $0.75 to $0.35. We assessed the Series B Preferred Stock using the same methodology as for the Series A Preferred Stock (see discussion above), which resulted in the same determinations. The following is a summary of the allocation of net proceeds and reconciliation to the carrying value of the Series B Preferred Stock at December 31, 2015: Net proceeds $ 1,615,798 Beneficial conversion feature – Series A Preferred Stock (recorded to Additional Paid-in Capital) (360,229 ) Beneficial conversion feature – Series B Preferred Stock (recorded to Additional Paid-in Capital) (754,286 ) Net proceeds allocated to preferred stock 501,283 Accretion of beneficial conversion feature (deemed dividend) 754,286 Conversions to common stock during 2014 (1,179,474 ) Carrying value at December 31, 2015 and 2014 $ 76,095 Series C Convertible Preferred Stock In February 2015, we issued 3,000 shares of our Series C Convertible Preferred Stock, $1,000 stated value (“Series C Preferred Stock”), and warrants to purchase up to 51,333,331 shares of our common stock for gross proceeds of $3.0 million. Net proceeds, after deduction of placement agent fees and other expenses, were approximately $2.7 million. Each share of Series C Preferred Stock is entitled to a liquidation preference equal to the initial purchase price, has no voting rights, and is not entitled to a dividend. The Series C Preferred Stock is convertible at any time at the option of the holders into shares of our common stock. The initial conversion price of the Series C Preferred Stock was $0.18 per share (“Conversion Price”). The Series C Preferred Stock contains price adjustment provisions which reduced the Conversion Price according to a formula based on the then-current market price for our common stock. As discussed below, on April 8, 2015 the Conversion Price was adjusted to $0.142 per share, and on December 4, 2015 the Conversion Price was further adjusted to $0.09416 per share, resulting in an aggregate total of 31,860,662 shares of our common stock (“Conversion Shares”) into which the Series C Preferred Stock currently may be converted. In connection with the Series C Preferred Stock issuance, we also issued to each Purchaser Series D, E and F Warrants (collectively, the “Investor Warrants”), each to purchase up to a number of shares of our common stock equal to 100% of the Conversion Shares underlying the Series C Preferred Stock (up to 16,666,666 shares in the aggregate for each of the three series of warrants, or 49,999,998 shares in total). The Series D Warrants had an initial exercise price of $0.22 per share, are currently exercisable, and have a term of exercise equal to five years from the date of issuance. The Series E Warrants had an initial exercise price of $0.18 per share, are currently exercisable, and have a term of exercise equal to one year from the date of issuance. The Series F Warrants had an initial exercise price of $0.22 per share and have a term of exercise equal to five years from the date of issuance, but only vest and become exercisable upon, and in proportion to, the exercise of the one-year Series E Warrants. We also issued to our placement agent warrants (“Placement Agent Warrants”) to acquire 1,333,333 shares of our Common Stock with terms substantially the same as the Series D Warrants. The Investor Warrants and Placement Agent Warrants contain anti-dilution and price adjustment provisions, which may, under certain circumstances, (i) reduce the exercise price on several future dates according to a formula based on the then-current market price for our common stock and (ii) reduce the exercise price to match if we sell or grant options to purchase, including rights to reprice, our common stock or common stock equivalents at a price lower than the exercise price of the warrants, or if we announce plans to do so. The number of shares subject to warrants will not increase due to such reductions in exercise price. In connection with the price adjustments for the Series C Preferred Stock discussed above, the exercise prices of the Investor Warrants and Placement Agent Warrants were also adjusted. The exercise price of the Series E Warrants has been reduced to $0.09416, and the exercise price of the Series D Warrants, Series F Warrants and Placement Agent Warrants has been reduced to $0.11299. We assessed the Series C Preferred Stock using the same methodology as for the Series A Preferred Stock (see discussion above), which resulted in the same determinations, although we determined there to be no beneficial conversion feature requiring recognition for the Series C Preferred Stock. We also assessed the warrants issued in connection with the financing under ASC 815 and determined that they do not initially meet the definition of a derivative, but will require evaluation on an on-going basis. As of December 31, 2015, we determined that the warrants still did not meet the definition of a derivative. The following is a summary of the allocation of net proceeds and reconciliation to the carrying value of the Series C Preferred Stock at December 31, 2015 Net proceeds after transaction costs $ 2,679,810 Less: Fair value of warrants (recorded to Additional Paid-in Capital) (1,695,869 ) Recorded value of Series C Preferred Stock at December 31, 2015 $ 983,941

Note 8 - Common Stock

Note 8 - Common Stock	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. Common Stock Common Stock Transactions During January and May 2013, we issued an aggregate of 2,933,333 shares of our common stock pursuant to the exercise of certain stock purchase warrants, resulting in total net proceeds of $1,643,333 (see “ Stock Purchase Warrants During October 2013, we issued 50,000 shares of our common stock to a consultant in exchange for services and recorded stock-based compensation expense of $20,500 related to the issuance (see Note 9). During July and November 2014, we issued an aggregate of 378,205 shares of our common stock to a consultant in exchange for services and recorded aggregate stock-based compensation expense of $100,000 related to the issuances (see see Note 9). During October 2014, we issued an aggregate of 3,176,000 shares of our common stock pursuant to the exercise of certain stock purchase warrants, resulting in total net proceeds of $873,400 (see “ Stock Purchase Warrants We issued shares of our common stock related to conversions of our Series A and Series B Preferred Stock (see Note 7) as follows: 2015 2014 2013 Conversion of Series A Preferred Stock -0- 202,857 2,048,570 Conversion of Series B Preferred Stock -0- 4,428,571 -0- Stock Purchase Warrants As of December 31, 2015, we have the following common stock purchase warrants outstanding: Expiration Date Number of Shares Weighted Average Exercise Price February 27, 2016 16,666,666 $ 0.09 December 31, 2016 1,806,159 1.00 January 16, 2017 45,000 1.00 January 31, 2017 567,001 1.00 March 21, 2017 2,690,666 0.09 February 27, 2020 34,666,665 0.11 Outstanding at December 31, 2015 56,442,157 $ 0.14 Exercisable at December 31, 2015 39,775,491 $ 0.16 During January 2013, we reduced the exercise price of warrants to purchase 2,933,333 shares of our common stock from $0.75 to $0.60 per share. In consideration for the reduction of the exercise price, the holders of the warrants immediately exercised 1,766,667 of the warrants for cash, resulting in total proceeds to the Company of $1,060,000. We also extended the expiration date of the 1,166,666 unexercised warrants from March 21, 2013 to May 21, 2013. We recorded non-cash general and administrative expense of $218,551 associated with these warrant modifications. During May 2013, we reduced the exercise price of the 1,166,666 remaining warrants from $0.60 to $0.50 per share. In consideration for the reduction of the exercise price, the holders of the warrants immediately exercised all of the remaining warrants for cash, resulting in total proceeds to the Company of $583,333. We recorded non-cash general and administrative expense of $19,617 associated with this warrant modification. During September 2014, we reduced the exercise price of warrants to purchase 818,376 shares of our common stock from $16.50 to $1.00 per share, and extended the expiration dates from December 31, 2014 to December 31, 2016. We recorded non-cash general and administrative expense of $39,711 associated with these modifications. During October 2014, we entered into an agreement with certain holders of warrants to purchase shares of our common stock with respect to the payment to them of a warrant exercise fee of $0.075 per share for each share purchased upon exercise of warrants held by them. In exchange for the fee, they immediately exercised warrants for an aggregate of 3,176,000 shares of our common stock, resulting in proceeds to us of $873,400 (net of the exercise fee). Common Stock Reserved A summary of common stock reserved for future issuance as of December 31, 2015 is as follows: Stock Purchase Warrants 56,442,157 Stock Option Plan 1,722,529 Series B Convertible Preferred Stock 285,714 Series C Convertible Preferred Stock 31,860,662 Total 90,311,062

Note 9 - Stock-Based Compensati

Note 9 - Stock-Based Compensation	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9. Stock-Based Compensation Stock Option Plan In 2006, we adopted the GeoVax Labs, Inc. 2006 Equity Incentive Plan (the “Stock Option Plan”) for the granting of qualified incentive stock options (“ISO’s”), nonqualified stock options, restricted stock awards or restricted stock bonuses to employees, officers, directors, consultants and advisors of the Company. The exercise price for any option granted may not be less than fair value (110% of fair value for ISO’s granted to certain employees). Options granted under the Stock Option Plan have a maximum ten-year term and generally vest over three years. We have reserved 1,722,529 shares of our common stock (net of exercises to date) for issuance under the Stock Option Plan. Certain information concerning the Stock Option Plan as of December 31, 2015, and a summary of activity during the year then ended is presented below: Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (yrs) Aggregate Intrinsic Value Outstanding at December 31, 2014 1,183,100 $ 3.50 Granted 590,400 0.11 Exercised - - Forfeited or expired (68,000 ) 1.50 Outstanding at December 31, 2015 1,705,500 $ 2.41 7.3 $ -0- Exercisable at December 31, 2015 906,761 $ 4.39 5.3 $ -0- Additional information concerning our stock options for the years ended December 31, 2015, 2014 and 2013 is as follows: 2015 2014 2013 Weighted average fair value of options granted $ 0.09 $ 0.14 $ 0.43 Intrinsic value of options exercised -0- -0- -0- Total fair value of options vested 66,622 97,707 165,490 We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows: 2015 2014 2013 Weighted average risk-free interest rates 1.99 % 1.98 % 2.3 % Expected dividend yield 0.0 % 0.0 % 0.0 % Expected life of option (in years) 7.0 7.0 7.0 Expected volatility 91.43 % 94.88 % 96.60 % Stock-based compensation expense related to the Stock Option Plan was $67,905, $101,191, and $143,435 during the years ended December 31, 2015, 2014 and 2013, respectively. Stock option expense is allocated to research and development expense or to general and administrative expense based on the nature of the services provided by the related individuals. For the three years ended December 31, 2015, stock option expense was allocated as follows: 2015 2014 2013 General and administrative expense $ 45,822 $ 69,057 $ 101,896 Research and development expense 22,083 32,134 41,539 Total stock option expense $ 67,905 $ 101,191 $ 143,435 As of December 31, 2015, there was $95,344 of unrecognized compensation expense related to stock-based compensation arrangements pursuant to the Stock Option Plan. The unrecognized compensation expense is expected to be recognized over a weighted average remaining period of 2.2 years. Other Non-E mp loyee Stock-Based C ompensation We recorded general and administrative expense of $-0-, $100,000, and $20,500 during the years ended December 31, 2015, 2014 and 2013, respectively, related to the issuance of our common stock in exchange for services rendered by non-employees (See Note 8). We recorded general and administrative expense of $-0-, $39,712, and $238,168 during the years ended December 31, 2015, 2014 and 2013, respectively, related to modifications made to certain stock purchase warrants. Additionally, during 2014, we recorded general and administrative expense of $238,200 related to a warrant exercise fee paid to certain holders of our stock purchase warrants as an incentive for the holders to immediately certain warrants (see Note 8). As of December 31, 2015, there was no unrecognized expense related to non-employee stock-based compensation arrangements.

Note 10 - Retirement Plan

Note 10 - Retirement Plan	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Pension and Other Postretirement Benefits Disclosure [Text Block]	10 . Retirement Plan We participate in a multi-employer defined contribution retirement plan (the “401k Plan”) administered by a third party service provider; and the Company contributes to the 401k Plan on behalf of its employees based upon a matching formula. During the years ended December 31, 2015, 2014 and 2013 our contributions to the 401k Plan were $40,296, $35,567, and $43,132, respectively.

Note 11 - Income Taxes

Note 11 - Income Taxes	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11 . Income Taxes At December 31, 2015, we have a consolidated federal net operating loss (“NOL”) carryforward of approximately $67.2 million, available to offset against future taxable income which expires in varying amounts in 2019 through 2035. Additionally, we have approximately $894,000 in research and development (“R&D”) tax credits that expire in 2022 through 2035 unless utilized earlier. No income taxes have been paid to date. Section 382 of the Internal Revenue Code contains provisions that may limit our utilization of our NOL and R&D tax credit carryforwards in any given year as a result of significant changes in ownership interests that have occurred in past periods or may occur in future periods. Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities included the following at December 31, 2015 and 2014: 2015 2014 Deferred tax assets: Net operating loss carryforward $ 23,822,431 $ 22,806,391 Research and development tax credit carryforward 893,797 825,896 Stock-based compensation expense 2,419,892 2,396,805 Total deferred tax assets 27,136,120 26,029,092 Deferred tax liabilities Depreciation (5,086 ) (7,149 ) Total deferred tax liabilities (5,086 ) (7,149 ) Net deferred tax assets 27,131,034 26,021,943 Valuation allowance (27,131,034 ) (26,021,943 ) $ -0- $ -0- We have established a full valuation allowance equal to the amount of our net deferred tax assets due to uncertainties with respect to our ability to generate sufficient taxable income to realize these assets in the future. 2015 2014 2013 U.S. federal statutory rate applied to pretax loss $ (936,936 ) $ (906,830 ) $ (776,881 ) Permanent differences 2,914 1,734 3,138 Research and development credits 67,901 26,648 14,047 Change in valuation allowance 866,121 878,448 759,696 Reported income tax expense $ -0- $ -0- $ -0-

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12 . Related Party Transactions We are obligated to reimburse Emory University (a significant stockholder of the Company) for ongoing costs in connection with the filing, prosecution and maintenance of patent applications subject to a license agreement for technology associated with the vaccines we are developing. The expense associated with these ongoing patent cost reimbursements to Emory amounted to $113,914, $179,958, and $98,042 for the years ended December 31, 2015, 2014, and 2013, respectively. In connection with a grant from the NIH (see Note 5), we entered into subcontracts with Emory University for the purpose of conducting research and development activities related to the grant. During 2015, 2014, and 2013, we recorded $-0-, $-0-, and $252,478, respectively, of expense associated with these subcontracts. All amounts paid to Emory under these subcontracts were reimbursable to us pursuant to the NIH grant.

Note 13 - Selected Quarterly Fi

Note 13 - Selected Quarterly Financial Data (unaudited)	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Quarterly Financial Information [Text Block]	13 . Selected Quarterly Financial Data (unaudited) A summary of selected quarterly financial data for 2015 and 2014 is as follows: 2015 Quarter Ended March 31 June 30 September 30 December 31 Revenue from grants $ 103,424 $ 71,474 $ 93,130 $ 160,053 Net loss (700,454 ) (676,203 ) (619,899 ) (692,731 ) Net loss per share (0.02 ) (0.02 ) (0.02 ) (0.02 ) 2014 Quarter Ended March 31 June 30 September 30 December 31 Revenue from grants $ 157,340 $ 180,441 $ 322,086 $ 223,089 Net loss (615,918 ) (679,537 ) (514,515 ) (923,585 ) Net loss per share (0.02 ) (0.03 ) (0.02 ) (0.03 )

Note 14 - Subsequent Event

Note 14 - Subsequent Event	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Subsequent Events [Text Block]	14 . Subsequent Events During January and February 2016, we issued an aggregate of 1,400,000 shares of our common stock related to conversions of our Series C Preferred Stock. On February 15, 2016, we entered into an agreement with certain warrant holders (the “Holders”) with respect to amending the terms of our Series E Warrants. Pursuant to the agreement, we agreed to extend the term of the Series E Warrants to August 27, 2016, and we agreed to the payment to each Holder of a warrant exercise fee of $0.02916 per share for each share purchased upon exercise of the Series E Warrants. The Holders agreed to promptly exercise an aggregate of 3,664,588 Series E Warrants, for which we received $238,198 in total net proceeds (after deduction of the warrant exercise fee). We recorded non-cash general and administrative expense of $469,800 associated with the warrant modifications.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Notes to Financial Statements
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block]	GEOVAX LABS, INC. SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS For t he Years Ended December 31, 2015, 2014 and 2013 Additions Description Balance at Beginning Of Period Charged to Costs and Expenses Charged to Other Accounts (1) Deductions Balance at End Of Period Reserve Deducted in the Balance Sheet From the Asset to Which it Applies: Allowance for Deferred Tax Assets Year ended December 31, 2015 $ 26,021,943 $ 1,109,091 $ -0- $ $ 27,131,034 Year ended December 31, 2014 25,002,881 1,019,062 -0- -0- 26,021,943 Year ended December 31, 2013 27,295,741 862,736 -0- (3,155,596 ) 25,002,881 (1) Deductions represent the effect of expiring NOL carryforwards from prior year.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiary, GeoVax, Inc. All intercompany transactions have been eliminated in consolidation.
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve-month period following the date of these consolidated financial statements. We are devoting substantially all of our present efforts to research and development. We have funded our activities to date from government grants and clinical trial assistance, and from sales of our equity securities. We will continue to require substantial funds to continue our research and development activities. We believe that our existing cash resources and grant commitments will be sufficient to fund our planned operations through the second quarter of 2016, but due to our history of operating losses and our continuing need for capital to conduct our research and development activities, there is substantial doubt concerning our ability to operate as a going concern beyond that date. We are currently exploring sources of capital through government grants and clinical trial support and through philanthropic foundation support. We may also secure additional funds through sales of our equity securities or the exercise of currently outstanding stock purchase warrants. Management believes that it will be successful in securing the additional capital required to continue the Company’s planned operations, but that its plans do not fully alleviate the substantial doubt about the Company’s ability to operate as a going concern. Additional funding may not be available on favorable terms or at all. If we fail to obtain additional capital when needed, we may be required to delay, scale back, or eliminate some or all of our research and development programs as well as reduce our general and administrative expenses.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of financial statements in conformity with GAAP requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from those estimates.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. Our cash and cash equivalents consist primarily of bank deposits and money market accounts. The recorded values approximate fair market values due to the short maturities.
Fair Value of Financial Instruments, Policy [Policy Text Block]	Fair Value of Financial Instruments and Concentration of Credit Risk Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values.
Property, Plant and Equipment, Policy [Policy Text Block]	Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from three to five years. We amortize leasehold improvements using the straight-line method over the term of the related lease. In February 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016-02, Leases
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the carrying amount of the assets to the future net cash flows expected to be generated by such assets. If we consider such assets to be impaired, the impairment to be
Accrued Liabilities [Policy Text Block]	Accrued Liabilities As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not yet been billed by our third party vendors. This process involves identifying services and activities that have been performed by such vendors on our behalf and estimating the level to which they have been performed and the associated cost incurred for such service as of each balance sheet date.
Earnings Per Share, Policy [Policy Text Block]	Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. Common share equivalents which could potentially dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, totaled approximately 90.3 million, 6.6 million, and 14.4 million at December 31, 2015, 2014 and 2013, respectively.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition We recognize revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 101, Revenue Recognition in Financial Statements, Revenue Recognition, In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers
Research and Development Expense, Policy [Policy Text Block]	Research and Development Expense Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of (i) fees paid to third-party service providers to perform, monitor and accumulate data related to our preclinical studies and clinical trials, (ii) costs related to sponsored research agreements, (iii) the costs to procure and manufacture materials used in clinical trials, (iv) laboratory supplies and facility-related expenses to conduct development, and (v) salaries, benefits, and stock-based compensation for personnel. These costs are charged to expense as incurred.
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	Patent Costs Our expenditures relating to obtaining and protecting patents are charged to expense when incurred, and are included in general and administrative expense.
Reclassification, Policy [Policy Text Block]	Period to Period Comparisons Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not be relied upon as predictive of the results for future periods.
Income Tax, Policy [Policy Text Block]	Income Taxes We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will be realized.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the award at the grant date. Compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Compensation cost for stock options or warrants is estimated at the grant date based on each instrument’s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note 9 for additional stock-based compensation information.
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements Except as discussed above, there have been no recent accounting pronouncements or changes in accounting pronouncements which we expect to have a material impact on our financial statements, nor do we believe that any recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on our financial statements.

Note 3 - Property and Equipme24

Note 3 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Property, Plant and Equipment [Table Text Block]	2015 2014 Laboratory equipment $ 525,956 $ 510,106 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 28,685 28,685 Total property and equipment 670,246 654,396 Accumulated depreciation and amortization (586,638 ) (557,703 ) Property and equipment, net $ 83,608 $ 96,693

Note 4 - Other Assets (Tables)

Note 4 - Other Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Other Assets [Table Text Block]	2015 2014 Technology licenses $ 248,855 $ 248,855 Accumulated amortization – technology licenses (248,855 ) (248,855 ) Deposits 11,010 11,010 Total other assets $ 11,010 $ 11,010

Note 7 - Preferred Stock (Table

Note 7 - Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Allocation Of Net Proceeds From Preferred Stock Financing [Table Text Block]	Net proceeds $ 1,999,032 Fair value of warrants (recorded to Additional Paid-in Capital) (1,127,418 ) Beneficial conversion feature (recorded to Additional Paid-in Capital) (762,667 ) Net proceeds allocated to preferred stock 108,947 Accretion of beneficial conversion feature (deemed dividend) 762,667 Initial carrying value of preferred stock 871,614 Accretion of beneficial conversion feature (deemed dividend) related to issuance of Series B Convertible Preferred Stock 360,229 Conversions to common stock during 2012, 2013, and 2014 (1,231,843 ) Carrying value at December 31, 2015 and 2014 $ -0- Net proceeds $ 1,615,798 Beneficial conversion feature – Series A Preferred Stock (recorded to Additional Paid-in Capital) (360,229 ) Beneficial conversion feature – Series B Preferred Stock (recorded to Additional Paid-in Capital) (754,286 ) Net proceeds allocated to preferred stock 501,283 Accretion of beneficial conversion feature (deemed dividend) 754,286 Conversions to common stock during 2014 (1,179,474 ) Carrying value at December 31, 2015 and 2014 $ 76,095 Net proceeds after transaction costs $ 2,679,810 Less: Fair value of warrants (recorded to Additional Paid-in Capital) (1,695,869 ) Recorded value of Series C Preferred Stock at December 31, 2015 $ 983,941

Note 8 - Common Stock (Tables)

Note 8 - Common Stock (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Conversions of Convertible Preferred Stock [Table Text Block]	2015 2014 2013 Conversion of Series A Preferred Stock -0- 202,857 2,048,570 Conversion of Series B Preferred Stock -0- 4,428,571 -0-
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Expiration Date Number of Shares Weighted Average Exercise Price February 27, 2016 16,666,666 $ 0.09 December 31, 2016 1,806,159 1.00 January 16, 2017 45,000 1.00 January 31, 2017 567,001 1.00 March 21, 2017 2,690,666 0.09 February 27, 2020 34,666,665 0.11 Outstanding at December 31, 2015 56,442,157 $ 0.14 Exercisable at December 31, 2015 39,775,491 $ 0.16
Schedule of Stock by Class [Table Text Block]	Stock Purchase Warrants 56,442,157 Stock Option Plan 1,722,529 Series B Convertible Preferred Stock 285,714 Series C Convertible Preferred Stock 31,860,662 Total 90,311,062

Note 9 - Stock-Based Compensa28

Note 9 - Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Share-based Compensation, Activity [Table Text Block]	Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (yrs) Aggregate Intrinsic Value Outstanding at December 31, 2014 1,183,100 $ 3.50 Granted 590,400 0.11 Exercised - - Forfeited or expired (68,000 ) 1.50 Outstanding at December 31, 2015 1,705,500 $ 2.41 7.3 $ -0- Exercisable at December 31, 2015 906,761 $ 4.39 5.3 $ -0-
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	2015 2014 2013 Weighted average fair value of options granted $ 0.09 $ 0.14 $ 0.43 Intrinsic value of options exercised -0- -0- -0- Total fair value of options vested 66,622 97,707 165,490
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	2015 2014 2013 Weighted average risk-free interest rates 1.99 % 1.98 % 2.3 % Expected dividend yield 0.0 % 0.0 % 0.0 % Expected life of option (in years) 7.0 7.0 7.0 Expected volatility 91.43 % 94.88 % 96.60 %
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	2015 2014 2013 General and administrative expense $ 45,822 $ 69,057 $ 101,896 Research and development expense 22,083 32,134 41,539 Total stock option expense $ 67,905 $ 101,191 $ 143,435

Note 11 - Income Taxes (Tables)

Note 11 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	2015 2014 Deferred tax assets: Net operating loss carryforward $ 23,822,431 $ 22,806,391 Research and development tax credit carryforward 893,797 825,896 Stock-based compensation expense 2,419,892 2,396,805 Total deferred tax assets 27,136,120 26,029,092 Deferred tax liabilities Depreciation (5,086 ) (7,149 ) Total deferred tax liabilities (5,086 ) (7,149 ) Net deferred tax assets 27,131,034 26,021,943 Valuation allowance (27,131,034 ) (26,021,943 ) $ -0- $ -0-
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	2015 2014 2013 U.S. federal statutory rate applied to pretax loss $ (936,936 ) $ (906,830 ) $ (776,881 ) Permanent differences 2,914 1,734 3,138 Research and development credits 67,901 26,648 14,047 Change in valuation allowance 866,121 878,448 759,696 Reported income tax expense $ -0- $ -0- $ -0-

Note 13 - Selected Quarterly 30

Note 13 - Selected Quarterly Financial Data (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Schedule of Quarterly Financial Information [Table Text Block]	2015 Quarter Ended March 31 June 30 September 30 December 31 Revenue from grants $ 103,424 $ 71,474 $ 93,130 $ 160,053 Net loss (700,454 ) (676,203 ) (619,899 ) (692,731 ) Net loss per share (0.02 ) (0.02 ) (0.02 ) (0.02 ) 2014 Quarter Ended March 31 June 30 September 30 December 31 Revenue from grants $ 157,340 $ 180,441 $ 322,086 $ 223,089 Net loss (615,918 ) (679,537 ) (514,515 ) (923,585 ) Net loss per share (0.02 ) (0.03 ) (0.02 ) (0.03 )

Schedule II - Valuation and Q31

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2015
Notes Tables
Summary of Valuation Allowance [Table Text Block]	Additions Description Balance at Beginning Of Period Charged to Costs and Expenses Charged to Other Accounts (1) Deductions Balance at End Of Period Reserve Deducted in the Balance Sheet From the Asset to Which it Applies: Allowance for Deferred Tax Assets Year ended December 31, 2015 $ 26,021,943 $ 1,109,091 $ -0- $ $ 27,131,034 Year ended December 31, 2014 25,002,881 1,019,062 -0- -0- 26,021,943 Year ended December 31, 2013 27,295,741 862,736 -0- (3,155,596 ) 25,002,881

Note 2 - Summary of Significa32

Note 2 - Summary of Significant Accounting Policies (Details Textual) - shares shares in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	5 years
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	90.3	6.6	14.4

Note 3 - Property and Equipme33

Note 3 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Depreciation, Depletion and Amortization, Nonproduction	$ 28,935	$ 59,037	$ 68,862

Note 3 - Property and Equipme34

Note 3 - Property and Equipment, net (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Laboratory Equipment [Member]
Property and equipment, gross	$ 525,956	$ 510,106
Leasehold Improvements [Member]
Property and equipment, gross	115,605	115,605
Other Furniture Fixtures And Equipment [Member]
Property and equipment, gross	28,685	28,685
Property and equipment, gross	670,246	654,396
Accumulated depreciation and amortization	(586,638)	(557,703)
Property and equipment, net	$ 83,608	$ 96,693

Note 4 - Other Assets (Details

Note 4 - Other Assets (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Amortization of Intangible Assets	$ 0	$ 10,000	$ 10,000

Note 4 - Other Assets (Details)

Note 4 - Other Assets (Details) - USD ($)	Dec. 31, 2014	Dec. 31, 2013
Patented Technology [Member]
Technology licenses	$ 248,855	$ 248,855
Accumulated amortization – technology licenses	(248,855)	(248,855)
Deposits	11,010	11,010
Total other assets	$ 11,010	$ 11,010

Note 5 - Government Grants (Det

Note 5 - Government Grants (Details Textual) - USD ($)	1 Months Ended				3 Months Ended								12 Months Ended
	Jul. 31, 2014	Jul. 31, 2013	Sep. 30, 2012	Sep. 30, 2007	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
NIH Grants [Member]
Revenue from Grants													$ 428,081	$ 882,956	$ 2,417,550
First N I H Grant [Member]
Revenue from Grants													75,464	624,689	833,390
Grant Award				$ 20,400,000
Second N I H Grant [Member]
Revenue from Grants													0	0	1,429,597
Grant Award			$ 1,900,000
SBIR Grant [Member]
Revenue from Grants													153,501	258,267	154,563
Grant Award	$ 289,641	$ 276,690
Second SBIR Grant [Member]
Revenue from Grants													199,116
Grant Award													299,585
Unused Grant Funds					$ 100,469								100,469
Revenue from Grants					$ 160,053	$ 93,130	$ 71,474	$ 103,424	$ 223,089	$ 322,086	$ 180,441	$ 157,340	$ 428,081	$ 882,956	$ 2,417,550

Note 6 - Commitments (Details T

Note 6 - Commitments (Details Textual)	12 Months Ended
	Dec. 31, 2015USD ($)ft²	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Area of Real Estate Property | ft²	8,400
Operating Leases, Rent Expense	$ 146,092	$ 117,084	$ 117,879
Operating Leases, Future Minimum Payments Due, Next Twelve Months	149,042
Unrecorded Unconditional Purchase Obligation	$ 72,500

Note 7 - Preferred Stock (Detai

Note 7 - Preferred Stock (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended				12 Months Ended
	Feb. 28, 2015	Jan. 31, 2014	Dec. 31, 2013	Mar. 31, 2012	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 04, 2015	Apr. 08, 2015	May. 14, 2013	Apr. 30, 2013	Jan. 17, 2013
Series A Convertible Preferred Stock [Member] | Gross Proceeds [Member]
Proceeds from Issuance of Convertible Preferred Stock				$ 2,200
Series A Convertible Preferred Stock [Member] | Conversion Price Adjustment [Member]
Preferred Stock, Shares Outstanding			788				788
Convertible Preferred Stock, Conversion Price Per Share			$ 0.35				$ 0.35
Series A Convertible Preferred Stock [Member]
Preferred Stock, Shares Outstanding					0
Class of Warrant or Right, Number of Securities Called by Warrants or Rights				8,799,999
Preferred Stock, Shares Authorized				2,200
Preferred Stock, Par or Stated Value Per Share				$ 1,000
Proceeds from Issuance of Convertible Preferred Stock				$ 2,000
Convertible Preferred Stock, Conversion Price Per Share			$ 0.35	$ 0.75			$ 0.35
Convertible preferred stock (in shares)		71				71	717	1,412
Common stock conversion (in shares)		202,857			0	202,857	2,048,570	1,882,667
Series C Convertible Preferred Stock [Member] | Gross Proceeds [Member]
Proceeds from Issuance of Convertible Preferred Stock	$ 3,000
Series C Convertible Preferred Stock [Member]
Preferred Stock, Shares Outstanding					3,000	0
Preferred Stock, Voting Rights	no
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	51,333,331
Preferred Stock, Par or Stated Value Per Share	$ 1,000				$ 1,000	$ 1,000
Proceeds from Issuance of Convertible Preferred Stock	$ 2,700
Convertible Preferred Stock, Conversion Price Per Share	$ 0.18								$ 0.09416	$ 0.142
Convertible Preferred Stock, Total Conversion Shares									31,860,662
Preferred Stock, Shares Issued	3,000				3,000	0
Series B Convertible Preferred Stock [Member] | Gross Proceeds [Member]
Proceeds from Issuance of Convertible Preferred Stock			$ 1,650
Series B Convertible Preferred Stock [Member]
Preferred Stock, Shares Outstanding					100	100
Preferred Stock, Par or Stated Value Per Share			$ 1,000		$ 1,000	$ 1,000	$ 1,000
Proceeds from Issuance of Convertible Preferred Stock			$ 1,600
Convertible Preferred Stock, Conversion Price Per Share						$ 0.35
Convertible preferred stock (in shares)						1,550
Common stock conversion (in shares)					0	4,428,571	0
Stock Issued During Period, Shares, New Issues			1,650
Convertible Preferred Stock, Total Conversion Shares			4,714,286			285,714	4,714,286
Preferred Stock, Shares Issued					100	100
Series E Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	16,666,666
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.18				$ 0.09416
Warrant Term	1 year
Series F Warrants [Members]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	16,666,666
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.22				0.11299
Warrant Term	5 years
Series D Warrants [Member] | Placement Agent for Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	1,333,333
Class of Warrant or Right, Exercise Price of Warrants or Rights					0.11299
Series D Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	16,666,666
Class of Warrant or Right, Exercise Price of Warrants or Rights	$ 0.22				0.11299
Warrant Term	5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights	49,999,998
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 0.14			$ 0.75			$ 0.50	$ 0.60	$ 0.60
Preferred Stock, Shares Authorized					10,000,000	10,000,000
Preferred Stock, Par or Stated Value Per Share					$ 0.01	$ 0.01

Note 7 - Allocation of Net Proc

Note 7 - Allocation of Net Proceeds from Preferred Stock Financing (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Series A Convertible Preferred Stock [Member] | Gross Proceeds [Member]
Net proceeds	$ 1,999,032
Series A Convertible Preferred Stock [Member] | Series B Beneficial Conversion Feature [Member]
Accretion of beneficial conversion feature (deemed dividend)	360,229
Series A Convertible Preferred Stock [Member] | Initial Carrying Value [Member]
Value of preferred stock	871,614
Series A Convertible Preferred Stock [Member]
Fair value of warrants (recorded to Additional Paid-in Capital)	(1,127,418)
Beneficial conversion feature (recorded to Additional Paid-in Capital)	(762,667)
Net proceeds allocated to preferred stock	108,947
Accretion of beneficial conversion feature (deemed dividend)	762,667
Value of preferred stock	0
Conversions to common stock	(1,231,843)
Series B Convertible Preferred Stock [Member] | Gross Proceeds [Member]
Net proceeds	1,615,798
Series B Convertible Preferred Stock [Member] | Series A Beneficial Conversion Feature [Member]
Beneficial conversion feature (recorded to Additional Paid-in Capital)	(360,229)
Series B Convertible Preferred Stock [Member] | Series B Beneficial Conversion Feature [Member]
Beneficial conversion feature (recorded to Additional Paid-in Capital)	(754,286)
Series B Convertible Preferred Stock [Member]
Net proceeds allocated to preferred stock	501,283
Accretion of beneficial conversion feature (deemed dividend)	754,286
Value of preferred stock	76,095
Conversions to common stock	(1,179,474)
Series C Convertible Preferred Stock [Member]
Net proceeds	2,679,810
Fair value of warrants (recorded to Additional Paid-in Capital)	(1,695,869)
Value of preferred stock	983,941
Net proceeds	$ 2,679,810

Note 8 - Common Stock (Details

Note 8 - Common Stock (Details Textual) - USD ($)	1 Months Ended					5 Months Ended		12 Months Ended
	Oct. 31, 2014	Sep. 30, 2014	Oct. 31, 2013	May. 30, 2013	Jan. 17, 2013	Nov. 30, 2014	May. 31, 2013	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	May. 14, 2013	Apr. 30, 2013	Dec. 31, 2012
Common Stock Warrants [Member] | Common Stock [Member]
Stock Issued During Period, Shares, New Issues							2,933,333
Proceeds from Warrant Exercises							$ 1,643,333
Warrant Exercise Price Adjustment [Member]
Class of Warrant or Right, Outstanding											1,166,666
Warrants with Modified Exercise Prices [Member] | Scenario, Previously Reported [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 16.50
Warrants with Modified Exercise Prices [Member]
Class of Warrant or Right, Outstanding		818,376
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 1
Common Stock [Member]
Stock Issued During Period, Shares, Issued for Services			50,000						378,205	50,000
Warrant [Member]
Other General and Administrative Expense				$ 19,617	$ 218,551
General and Administrative Expense [Member]
Allocated Share-based Compensation Expense			$ 20,500
Third Party Consulting Services [Member]
Stock Issued During Period, Shares, Issued for Services						378,205
Allocated Share-based Compensation Expense						$ 100,000
Expense Associated with Warrant Modifications [Member]
General and Administrative Expense		$ 39,711						$ 0	$ 39,712	$ 238,168
Proceeds from Warrant Exercises	$ 873,400			$ 583,333	$ 1,060,000
Stock Issued During Period, Shares, Warrants Exercised	3,176,000
Class of Warrant or Right, Outstanding					2,933,333			56,442,157
Class of Warrant or Right, Exercise Price of Warrants or Rights					$ 0.60			$ 0.14			$ 0.50	$ 0.60	$ 0.75
Number Of Warrants Issued During Period					1,766,667
Class of Warrant or Right, Unissued					1,166,666
General and Administrative Expense								$ 1,429,731	$ 1,807,605	$ 1,792,160
Warrant Exercise Fee Per Share	$ 0.075

Note 8 - Convertible Stock Issu

Note 8 - Convertible Stock Issued (Details) - shares	1 Months Ended	12 Months Ended
	Jan. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Series A Convertible Preferred Stock [Member]
Conversion of preferred stock (in shares)	202,857	0	202,857	2,048,570	1,882,667
Series B Convertible Preferred Stock [Member]
Conversion of preferred stock (in shares)		0	4,428,571	0

Note 8 - Outstanding Stock Purc

Note 8 - Outstanding Stock Purchase Warrants (Details)	Dec. 31, 2015$ / sharesshares
Warrants Expiration 1[Member]
Number of Shares (in shares) | shares	16,666,666
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 0.09
Warrants Expiration 2 [Member]
Number of Shares (in shares) | shares	1,806,159
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1
Warrants Expiration 3 [Member]
Number of Shares (in shares) | shares	45,000
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1
Warrants Expiration 4 [Member]
Number of Shares (in shares) | shares	567,001
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 1
Warrants Expiration 5 [Member]
Number of Shares (in shares) | shares	2,690,666
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 0.09
Warrant Expiration 6 [Member]
Number of Shares (in shares) | shares	34,666,665
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 0.11
Number of Shares (in shares) | shares	56,442,157
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 0.14
Number of Shares (in shares) | shares	39,775,491
Weighted Average Exercise Price (in dollars per share) | $ / shares	$ 0.16

Note 8 - Common Stock Reserved

Note 8 - Common Stock Reserved for Future Issuance (Details)	Dec. 31, 2015shares
Employee Stock Option [Member]
Common Stock, Reserved for Future Issuance (in shares)	56,442,157
Warrant [Member]
Common Stock, Reserved for Future Issuance (in shares)	1,722,529
Series B Convertible Preferred Stock [Member]
Common Stock, Reserved for Future Issuance (in shares)	285,714
Series C Convertible Preferred Stock [Member]
Common Stock, Reserved for Future Issuance (in shares)	31,860,662
Common Stock, Reserved for Future Issuance (in shares)	90,311,062

Note 9 - Stock-Based Compensa45

Note 9 - Stock-Based Compensation (Details Textual) - USD ($)	1 Months Ended	12 Months Ended
	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2006
Non-employee Share-based Compensation [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 0
Incentive Stock Options (ISO's) [Member] | 2006 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent					110.00%
2006 Equity Incentive Plan [Member]
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized		$ 95,344
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period					10 years
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period					3 years
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized		1,722,529
Allocated Share-based Compensation Expense		$ 67,905	$ 101,191	$ 143,435
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition		2 years 73 days
Third Party Consulting Services [Member]
Allocated Share-based Compensation Expense		$ 0	100,000	20,500
Expense Associated with Warrant Modifications [Member]
General and Administrative Expense	$ 39,711	0	39,712	238,168
Warrant Exercise Fee [Member]
General and Administrative Expense			238,200
General and Administrative Expense		$ 1,429,731	$ 1,807,605	$ 1,792,160

Note 9 - Activity of Stock Opti

Note 9 - Activity of Stock Option Plan (Details)	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Number of shares (in shares) | shares	1,183,100
Weighted average exercise price (in dollars per share) | $ / shares	$ 3.50
Granted (in shares) | shares	590,400
Granted (in dollars per share) | $ / shares	$ 0.11
Forfeited or expired (in shares) | shares	(68,000)
Forfeited or expired (in dollars per share) | $ / shares	$ 1.50
Number of shares (in shares) | shares	1,705,500
Weighted average exercise price (in dollars per share) | $ / shares	$ 2.41
Weighted average remaining contractual period	7 years 109 days
Aggregate Intrinsic value | $	$ 0
Exercisable at December 31, 2015 (in shares) | shares	906,761
Exercisable at December 31, 2015 (in dollars per share) | $ / shares	$ 4.39
Exercisable at December 31, 2015	5 years 109 days
Exercisable at December 31, 2015 | $	$ 0

Note 9 - Additional Information

Note 9 - Additional Information for Stock Options (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Weighted average fair value of options granted (in dollars per share)	$ 0.09	$ 0.14	$ 0.43
Intrinsic value of options exercised	$ 0	$ 0	$ 0
Total fair value of options vested	$ 66,622	$ 97,707	$ 165,490

Note 9 - Significant Assumption

Note 9 - Significant Assumption Used in Fair Value Calculation (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Weighted average risk-free interest rates	1.99%	1.98%	2.30%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life of option (in years)	7 years	7 years	7 years
Expected volatility	91.43%	94.88%	96.60%

Note 9 - Allocation of Stock Op

Note 9 - Allocation of Stock Option Expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Employee Stock Option [Member] | General and Administrative Expense [Member]
Allocated stock option expense	$ 45,822	$ 69,057	$ 101,896
Employee Stock Option [Member] | Research and Development Expense [Member]
Allocated stock option expense	22,083	32,134	41,539
Employee Stock Option [Member]
Allocated stock option expense	$ 67,905	$ 101,191	$ 143,435

Note 10 - Retirement Plan (Deta

Note 10 - Retirement Plan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 40,296	$ 35,567	$ 43,132

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($)	12 Months Ended			174 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Domestic Tax Authority [Member]
Operating Loss Carryforwards	$ 67,200,000			$ 67,200,000
Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount	894,000			894,000
Income Tax Expense (Benefit)	$ 0	$ 0	$ 0	$ 0

Note 11 - Deferred Tax Assets a

Note 11 - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Net operating loss carryforward	$ 23,822,431	$ 22,806,391
Research and development tax credit carryforward	893,797	825,896
Stock-based compensation expense	2,419,892	2,396,805
Total deferred tax assets	27,136,120	26,029,092
Deferred tax liabilities
Depreciation	(5,086)	(7,149)
Total deferred tax liabilities	(5,086)	(7,149)
Net deferred tax assets	27,131,034	26,021,943
Valuation allowance	(27,131,034)	(26,021,943)
	$ 0	$ 0

Note 11 - Reconciliation of Inc

Note 11 - Reconciliation of Income Tax Benefit (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. federal statutory rate applied to pretax loss	$ (936,936)	$ (906,830)	$ (776,881)
Permanent differences	2,914	1,734	3,138
Research and development credits	67,901	26,648	14,047
Change in valuation allowance	866,121	878,448	759,696
Reported income tax expense	$ 0	$ 0	$ 0

Note 12 - Related Party Trans54

Note 12 - Related Party Transactions (Details Textual) - Emory [Member] - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Ongoing Patent Cost Reimbursements [Member]
Related Party Transaction, Expenses from Transactions with Related Party	$ 113,914	$ 179,958	$ 98,042
Research Agreements [Member]
Related Party Transaction, Expenses from Transactions with Related Party	$ 0	$ 0	$ 252,478

Note 13 - Selected Quarterly 55

Note 13 - Selected Quarterly Financial Data (Details) - USD ($)	3 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014
Grant revenue	$ 160,053	$ 93,130	$ 71,474	$ 103,424	$ 223,089	$ 322,086	$ 180,441	$ 157,340
Net loss	$ (692,731)	$ (619,899)	$ (676,203)	$ (700,454)	$ (923,585)	$ (514,515)	$ (679,537)	$ (615,918)
Net loss per share (in dollars per share)	$ (0.02)	$ (0.02)	$ (0.02)	$ (0.02)	$ (0.03)	$ (0.02)	$ (0.03)	$ (0.02)

Note 14 - Subsequent Event (Det

Note 14 - Subsequent Event (Details Textual) - USD ($)	Feb. 15, 2016	Oct. 31, 2014	May. 30, 2013	Jan. 17, 2013	Feb. 28, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Subsequent Event [Member] | Series C Convertible Preferred Stock [Member]
Common stock conversion (in shares)					1,400,000
Subsequent Event [Member] | Series E Warrants [Member]
Class of Warrant or Right, Exercise Fee	$ 0.02916
Class of Warrant or Right, Exercised During Period	3,664,588
Proceeds from Warrant Exercises	$ 238,198
General and Administrative Expense	$ 469,800
Proceeds from Warrant Exercises		$ 873,400	$ 583,333	$ 1,060,000
General and Administrative Expense						$ 1,429,731	$ 1,807,605	$ 1,792,160

Schedule II - Valuation and Q57

Schedule II - Valuation and Qualifying Accounts (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($)		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Balance at Beginning Of Period		$ 26,021,943	$ 25,002,881	$ 27,295,741
Additions Charged to Costs and Expenses		1,109,091	1,019,062	862,736
Additions Charged to Other Accounts		0	0	0
Deductions	[1]	0	0	(3,155,596)
Balance at End Of Period		$ 27,131,034	$ 26,021,943	$ 25,002,881
[1]	Deductions represent the effect of expiring NOL carryforwards from prior year.