GeoVax Labs (GOVX) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 14, 2016
Document Information [Line Items]
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)		49,172,733
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
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	940,705	983,941
Cash and cash equivalents	511,096	1,060,348
Grant funds receivable	8,765	119,978
Prepaid expenses and other current assets	82,297	56,649
Total current assets	602,158	1,236,975
Property and equipment, net	62,023	83,608
Deposits	11,010	11,010
Total assets	675,191	1,331,593
Accounts payable	33,497	100,935
Accrued expenses (Note 6)	219,092	26,055
Total current liabilities	252,589	126,990
Commitments (Note 7)
Common Stock, $0.001: Authorized shares – 300,000,000 and 150,000,000 at September 30, 2016 and December 31, 2015, respectively Issued and outstanding shares – 49,172,733 and 31,950,813 at September 30, 2016 and December 31, 2015, respectively	49,173	31,951
Additional paid-in capital	34,167,870	32,587,543
Accumulated deficit	(34,811,241)	(32,474,927)
Total stockholders’ equity	422,602	1,204,603
Total liabilities and stockholders’ equity	$ 675,191	$ 1,331,593

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
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)	2,868	3,000
Preferred stock, shares outstanding (in shares)	2,868	3,000
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)	300,000,000	150,000,000
Common stock, shares issued (in shares)	49,172,733	31,950,813
Common stock, shares outstanding (in shares)	49,172,733	31,950,813

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Grant revenue	$ 440,106	$ 93,130	$ 653,986	$ 268,028
Operating expenses:
Research and development	683,939	378,521	1,519,519	1,166,803
General and administrative	220,707	335,932	1,472,030	1,102,262
Total operating expenses	904,646	714,453	2,991,549	2,269,065
Loss from operations	(464,540)	(621,323)	(2,337,563)	(2,001,037)
Other income:
Interest income	340	1,424	1,249	4,481
Total other income	340	1,424	1,249	4,481
Net loss	$ (464,200)	$ (619,899)	$ (2,336,314)	$ (1,996,556)
Basic and diluted:
Loss per common share (in dollars per share)	$ (0.01)	$ (0.02)	$ (0.06)	$ (0.06)
Weighted averages shares outstanding (in shares)	44,305,161	31,950,813	38,796,869	31,950,813

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (2,336,314)	$ (1,996,556)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	21,585	21,701
Stock-based compensation expense	525,887	50,516
Changes in assets and liabilities:
Grant funds receivable	111,213	79,341
Prepaid expenses and other current assets	(25,648)	(30,773)
Accounts payable and accrued expenses	125,599	(68,802)
Total adjustments	758,636	51,983
Net cash used in operating activities	(1,577,678)	(1,944,573)
Cash flows from investing activities:
Purchase of property and equipment		(15,850)
Net cash used in investing activities		(15,850)
Cash flows from financing activities:
Net proceeds from sale of preferred stock		2,679,809
Net proceeds from sale of common stock	1,028,426
Net cash provided by financing activities	1,028,426	2,679,809
Net increase (decrease) in cash and cash equivalents	(549,252)	719,386
Cash and cash equivalents at beginning of period	1,060,348	1,101,651
Cash and cash equivalents at end of period	$ 511,096	$ 1,821,037

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) - Series C Convertible Preferred Stock [Member]	9 Months Ended
	Sep. 30, 2016shares
Convertible preferred stock (in shares)	132
Common stock conversion (in shares)	1,400,000

Note 1 - Description of Busines

Note 1 - Description of Business	9 Months Ended
	Sep. 30, 2016
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 current development programs are focused on Human Immunodeficiency Virus (HIV), hemorrhagic fever viruses (Ebola, Sudan, Marburg, and Lassa), Zika virus, and cancer immunotherapy. We also recently began a program to develop a therapeutic vaccine for chronic Hepatitis B infections. We believe our technology and vaccine development expertise are 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. We also have nonexclusive licenses to certain patents owned by the NIH, and are developing our hemorrhagic fever and Zika vaccines, and our cancer immunotherapy program with technology we expect to license from the NIH. 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 and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and 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, may take many years and often involves 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. GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in Smyrna, Georgia (metropolitan Atlanta area).

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Basis of Accounting [Text Block]	2. Basis of Presentation The accompanying condensed consolidated financial statements at September 30, 2016 and for the three-month and nine-month periods ended September 30, 2016 and 2015 are unaudited, but include all adjustments, consisting of normal recurring entries, which we believe to be necessary for a fair presentation of the dates and periods presented. Certain prior year amounts have been reclassified to conform to the current year presentation. Interim results are not necessarily indicative of results for a full year. The financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015. We expect our operating results to fluctuate for the foreseeable future; therefore, period-to-period comparisons should not be relied upon as predictive of the results in future periods. Our 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 the financial statements. We are devoting substantially all of our present efforts to research and development of our vaccine candidates. 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 these activities. We believe that our existing cash resources and government funding commitments will be sufficient to continue our planned operations into the first quarter of 2017. 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 additional government grants and contracts. We also intend to secure additional funds through sales of our equity securities or the exercise of currently outstanding stock purchase warrants. Management believes that we will be successful in securing the additional capital required to continue the Company’s planned operations, but that our 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 will 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.

Note 3 - Significant Accounting

Note 3 - Significant Accounting Policies and Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Significant Accounting Policies [Text Block]	3. Significant Accounting Policies and Recent Accounting Pronouncements We disclosed in Note 2 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2015 those accounting policies that we consider significant in determining our results of operations and financial position. There have been no material changes to, or in the application of, the accounting policies previously identified and described in the Form 10-K. In March 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update 2016-09, Improvements to Employee Share-Based Payment Accounting There have been no other recent accounting pronouncements or changes in accounting pronouncements during the nine months ended September 30, 2016, as compared to the recent accounting pronouncements described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2015, which we expect to have a material impact on our financial statements.

Note 4 - Basic and Diluted Loss

Note 4 - Basic and Diluted Loss Per Common Share	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Earnings Per Share [Text Block]	4. Basic and Diluted Loss Per Common Share Basic net loss per share is computed using the weighted-average number of common shares outstanding during the period. Diluted net loss per share is computed using the weighted-average number of common shares and potentially dilutive common share equivalents outstanding during the period. Potentially dilutive common share equivalents consist of convertible preferred stock, stock options and stock purchase warrants. Common share equivalents which potentially could dilute basic earnings per share in the future, and which were excluded from the computation of diluted loss per share, as the effect would be anti-dilutive, totaled approximately 73.1 million and 79.0 million shares at September 30, 2016 and 2015, respectively.

Note 5 - Property and Equipment

Note 5 - Property and Equipment	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	5. Property and Equipment Property and equipment as shown on the accompanying Condensed Consolidated Balance Sheets is composed of the following as of September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Laboratory equipment $ 525,956 $ 525,956 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 28,685 28,685 Total property and equipment 670,246 670,246 Accumulated depreciation and amortization (608,223 ) (586,638 ) Property and equipment, net $ 62,023 $ 83,608

Note 6 - Accrued Expenses

Note 6 - Accrued Expenses	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	6. Accrued Expenses Accrued expenses as shown on the accompanying Condensed Consolidated Balance Sheets is composed of the following as of September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Accrued salaries $ 126,123 $ 1,305 Accrued directors’ fees 57,969 - Other 35,000 24,750 Total accrued expenses $ 219,092 $ 26,055

Note 7 - Commitments

Note 7 - Commitments	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Commitments Disclosure [Text Block]	7. Commitments Lease Agreement 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, 2017. As of September 30, 2016, our future minimum lease payments total $189,254, $37,261 of which will be payable in 2016 and $151,993 during 2017. 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 our clinical trials, and other research-related activities. As of September 30, 2016, we had approximately $305,000 of unrecorded outstanding purchase commitments to our vendors and subcontractors, which we expect will be due during the remainder of 2016 and the first half of 2017. We expect this entire amount to be reimbursable to us pursuant to currently outstanding government grants (See Note 10).

Note 8 - Stockholders' Equity

Note 8 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8. Stockholders’ Equity Preferred Stock Transactions During January and February 2016 we issued an aggregate of 1,400,000 shares of our common stock related to conversions of 132 shares our Series C Convertible Preferred Stock. As of September 30, 2016, there are 100 shares of our Series B Convertible Preferred Stock outstanding, and 2,868 shares of our Series C Convertible Preferred Stock outstanding, convertible into 285,714 and 30,460,662 shares of our common stock, respectively. Increase in Authorized Shares of Common Stock At our annual meeting of stockholders held on June 14, 2016, our stockholders approved an amendment to our certificate of incorporation to increase our authorized shares of common stock from 150,000,000 shares to 300,000,000 shares. The amendment to our certificate of incorporation was filed with the Delaware Secretary of State on June 14, 2016. Common Stock Transactions In addition to the 1,400,000 shares of our common stock issued pursuant to the conversion of our Series C Convertible Preferred Stock discussed under “Preferred Stock Transactions” above, during the nine months ended September 30, 2016, we issued an aggregate of 15,821,920 shares of common stock related to exercises of stock purchase warrants as discussed under “Stock Purchase Warrants” below. Stock Options In 2006 we adopted the GeoVax Labs, Inc. 2006 Equity Incentive Plan (the “2006 Plan”) and at our annual stockholders meeting on June 14, 2016, our stockholders approved the GeoVax Labs, Inc. 2016 Stock Incentive Plan (the “2016 Plan”) which provides the Board of Directors broad discretion in creating equity incentives for employees, officers, directors and consultants. We have reserved 1,722,529 shares of our common stock for issuances under the 2006 Plan, and 3,000,000 shares for issuance under the 2016 Plan. The 2016 Plan replaces the 2006 Plan, which expired September 28, 2016, and no further grants may be made under the 2006 Plan. As such, the 2016 Plan will serve as the sole equity incentive compensation plan for the Company. The following table presents a summary of our stock option transactions during the nine months ended September 30, 2016: Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2015 1,705,500 $ 2.41 Granted -- -- Exercised -- -- Forfeited or expired -- -- Outstanding at September 30, 2016 1,705,500 $ 2.41 Exercisable at September 30, 2016 923,061 $ 4.31 Stock Purchase Warrants The following table presents a summary of stock purchase warrant transactions during the nine months ended September 30, 2016: Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2015 56,442,157 $ 0.14 Granted -- -- Exercised (15,821,920 ) 0.065 Forfeited or expired -- -- Outstanding at September 30, 2016 40,620,237 $ 0.16 Exercisable at September 30, 2016 38,568,159 $ 0.16 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 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 $469,799 associated with the warrant modifications. On August 19, 2016, we entered into an agreement with the Holders with respect to further extending the term of our Series E Warrants to December 31, 2016, and to the payment to each Holder of a warrant exercise fee of $0.02916 per share for each share purchased upon exercise of our Series A Warrants. The Holders agreed to promptly exercise an aggregate of 1,207,332 Series A Warrants and 3,600,000 Series E Warrants, for which we received $312,477 in aggregate net proceeds (after deduction of the warrant exercise fee). We recorded non-cash general and administrative expense of $15,030 associated with the warrant modifications. In addition to the warrants exercised directly in connection with the warrant modifications described above, during the nine months ended September 30, 2016, holders of certain of our stock purchase warrants exercised warrants as to 7,350,000 shares, for which we received aggregate net proceeds of $477,750. Stock-Based Compensation Expense During the three-month and nine-month periods ended September 30, 2016 and 2015, we recorded stock-based compensation expense as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Stock Option Expense $ 13,686 $ 16,926 $ 41,058 $ 50,516 Warrant Modification Expense 15,030 - 484,829 - Total Stock-Based Compensation Expense $ 28,716 $ 16,926 $ 525,887 $ 50,516 Stock-based compensation expense related to stock options is recognized on a straight-line basis over the requisite service period for the award and is allocated to research and development expense or general and administrative expense based upon the related employee classification. As of September 30, 2016, there was $54,286 of unrecognized compensation expense related to stock options, which is expected to be recognized over a weighted average period of 1.7 years. Common Stock Reserved A summary of our common stock reserved for future issuance is as follows as of September 30, 2016: Series B Convertible Preferred Stock 285,714 Series C Convertible Preferred Stock 30,460,662 Common Stock Purchase Warrants 40,620,237 Equity Incentive Plans 4,722,529 Total 76,089,142

Note 9 - Income Taxes

Note 9 - Income Taxes	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Income Tax Disclosure [Text Block]	9. Income Taxes Because of our historically significant net operating losses, we have not paid income taxes since inception. We maintain deferred tax assets that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. These deferred tax assets are comprised primarily of net operating loss carryforwards and also include amounts relating to nonqualified stock options and research and development credits. The net deferred tax asset has been fully offset by a valuation allowance because of the uncertainty of our future profitability and our ability to utilize the deferred tax assets. Utilization of operating losses and credits will be subject to substantial annual limitations due to ownership change provisions of Section 382 of the Internal Revenue Code. The annual limitation will result in the expiration of net operating losses and credits before utilization.

Note 10 - Government Grants and

Note 10 - Government Grants and Contracts	9 Months Ended
	Sep. 30, 2016
Notes to Financial Statements
Government Grants [Text Block]	10. Government Grants and Contracts We receive payments from government entities under our grants and contracts with the National Institutes of Health in support of our vaccine research and development efforts. We record revenue associated with government grants and contracts as the reimbursable costs are incurred. Such reimbursements are recorded as Grant Revenue in our Condensed Consolidated Statements of Operations rather than a reduction in expenses. As of September 30, 2016, there is an aggregate of $680,419 in approved grant and contract funds available for use, which we anticipate recognizing as revenue during the remainder of 2016 and through July 2017.

Note 5 - Property and Equipme17

Note 5 - Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30, 2016 December 31, 2015 Laboratory equipment $ 525,956 $ 525,956 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 28,685 28,685 Total property and equipment 670,246 670,246 Accumulated depreciation and amortization (608,223 ) (586,638 ) Property and equipment, net $ 62,023 $ 83,608

Note 6 - Accrued Expenses (Tabl

Note 6 - Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	September 30, 2016 December 31, 2015 Accrued salaries $ 126,123 $ 1,305 Accrued directors’ fees 57,969 - Other 35,000 24,750 Total accrued expenses $ 219,092 $ 26,055

Note 8 - Stockholders' Equity (

Note 8 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Tables
Schedule of Share-based Compensation, Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2015 1,705,500 $ 2.41 Granted -- -- Exercised -- -- Forfeited or expired -- -- Outstanding at September 30, 2016 1,705,500 $ 2.41 Exercisable at September 30, 2016 923,061 $ 4.31
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2015 56,442,157 $ 0.14 Granted -- -- Exercised (15,821,920 ) 0.065 Forfeited or expired -- -- Outstanding at September 30, 2016 40,620,237 $ 0.16 Exercisable at September 30, 2016 38,568,159 $ 0.16
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Stock Option Expense $ 13,686 $ 16,926 $ 41,058 $ 50,516 Warrant Modification Expense 15,030 - 484,829 - Total Stock-Based Compensation Expense $ 28,716 $ 16,926 $ 525,887 $ 50,516
Schedule of Stock by Class [Table Text Block]	Series B Convertible Preferred Stock 285,714 Series C Convertible Preferred Stock 30,460,662 Common Stock Purchase Warrants 40,620,237 Equity Incentive Plans 4,722,529 Total 76,089,142

Note 4 - Basic and Diluted Lo20

Note 4 - Basic and Diluted Loss Per Common Share (Details Textual) - shares shares in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	73.1	79

Note 5 - Property and Equipme21

Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Laboratory Equipment [Member]
Property and equipment, gross	$ 525,956	$ 525,956
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	670,246
Accumulated depreciation and amortization	(608,223)	(586,638)
Property and equipment, net	$ 62,023	$ 83,608

Note 6 - Accrued Expenses - Sch

Note 6 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Accrued salaries	$ 126,123	$ 1,305
Accrued directors’ fees	57,969
Other	35,000	24,750
Total accrued expenses	$ 219,092	$ 26,055

Note 7 - Commitments (Details T

Note 7 - Commitments (Details Textual)	Sep. 30, 2016USD ($)ft²
Area of Real Estate Property | ft²	8,400
Operating Leases, Future Minimum Payments Due	$ 189,254
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year	37,261
Operating Leases, Future Minimum Payments, Due in Two Years	151,993
Unrecorded Unconditional Purchase Obligation	$ 305,000

Note 8 - Stockholders' Equity24

Note 8 - Stockholders' Equity (Details Textual) - USD ($)	Aug. 19, 2016	Feb. 15, 2016	Feb. 29, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 14, 2016	Jun. 13, 2016	Dec. 31, 2015
Series C Convertible Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues			1,400,000
Conversion of Stock, Shares Converted			132			132
Preferred Stock, Shares Outstanding				2,868		2,868				3,000
Convertible Preferred Stock, Total Conversion Shares				30,460,662		30,460,662
Common Stock, Capital Shares Reserved for Future Issuance				30,460,662		30,460,662
Series B Convertible Preferred Stock [Member]
Preferred Stock, Shares Outstanding				100		100				100
Convertible Preferred Stock, Total Conversion Shares				285,714		285,714
Common Stock, Capital Shares Reserved for Future Issuance				285,714		285,714
Common Stock Warrants [Member]
Stock Issued During Period, Shares, New Issues						15,821,920
Series E Warrants [Member]
Warrant Exercise Fee Per Share		$ 0.02916
Class of Warrant or Right, Exercised During Period	3,600,000	3,664,588
Proceeds from Warrant Exercises		$ 238,198
General and Administrative Expense		$ 469,799
Series A Warrants [Member]
Warrant Exercise Fee Per Share	$ 0.02916
Class of Warrant or Right, Exercised During Period	1,207,332
Series A Warrants and Series E Warrants [Member]
Proceeds from Warrant Exercises	$ 312,477
General and Administrative Expense	$ 15,030
2006 Equity Incentive Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance				1,722,529		1,722,529
Equity Incentive Plan 2016 [Member]
Common Stock, Capital Shares Reserved for Future Issuance				3,000,000		3,000,000
Common Stock, Shares Authorized				300,000,000		300,000,000		300,000,000	150,000,000	150,000,000
Common Stock, Capital Shares Reserved for Future Issuance				76,089,142		76,089,142
Class of Warrant or Right, Exercised During Period						(15,821,920)
Proceeds from Warrant Exercises						$ 477,750
General and Administrative Expense				$ 220,707	$ 335,932	$ 1,472,030	$ 1,102,262
Stock Issued During Period, Shares, Warrants Exercised						7,350,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized				$ 54,286		$ 54,286
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition						1 year 255 days

Note 8 - Stockholders' Equity -

Note 8 - Stockholders' Equity - Activity of Stock Option Plan (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Outstanding, options (in shares) | shares	1,705,500
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares	$ 2.41
Granted, options (in shares) | shares
Granted, weighted average exercise price, options (in dollars per share) | $ / shares
Forfeited or expired, options (in shares) | shares
Forfeited or expired, weighted average exercise price, options (in dollars per share) | $ / shares
Outstanding, options (in shares) | shares	1,705,500
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares	$ 2.41
Exercisable, options (in shares) | shares	923,061
Exercisable at March 31, 2016, weighted average exercise price, options (in dollars per share) | $ / shares	$ 4.31

Note 8 - Stockholders' Equity26

Note 8 - Stockholders' Equity - Outstanding Stock Purchase Warrants (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Outstanding, shares (in shares) | shares	56,442,157
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 0.14
Exercised, shares (in shares) | shares	(15,821,920)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 0.065
Outstanding, shares (in shares) | shares	40,620,237
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 0.16
Exercisable, shares (in shares) | shares	38,568,159
Exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 0.16

Note 8 - Stockholders' Equity27

Note 8 - Stockholders' Equity - Stock-Based Compensation Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Employee Stock Option [Member]
Stock-Based Compensation Expense	$ 13,686	$ 16,926	$ 41,058	$ 50,516
Warrant [Member]
Stock-Based Compensation Expense	15,030		484,829
Stock-Based Compensation Expense	$ 28,716	$ 16,926	$ 525,887	$ 50,516

Note 8 - Stockholders' Equity28

Note 8 - Stockholders' Equity - Common Stock Reserved for Future Issuance (Details)	Sep. 30, 2016shares
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)	30,460,662
Warrant [Member]
Common Stock, Reserved for Future Issuance (in shares)	40,620,237
Employee Stock Option [Member]
Common Stock, Reserved for Future Issuance (in shares)	4,722,529
Common Stock, Reserved for Future Issuance (in shares)	76,089,142

Note 9 - Income Taxes (Details

Note 9 - Income Taxes (Details Textual)	183 Months Ended
	Sep. 30, 2016USD ($)
Income Tax Expense (Benefit)	$ 0

Note 10 - Government Grants a30

Note 10 - Government Grants and Contracts (Details Textual)	Sep. 30, 2016USD ($)
Unused Grant Funds	$ 680,419