GeoVax Labs (GOVX) POS AM 23 Mar 18 2017 FY Prospectus update (post-effective amendment) Financial data

Document And Entity Information

Document And Entity Information - shares	12 Months Ended
	Dec. 31, 2017	Mar. 22, 2018
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)		131,736,810
Document Type	POS AM
Document Period End Date	Dec. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	FY
Amendment Flag	true
Amendment Description	This Post-Effective Amendment No. 3 to Form S-1 (this “Post-Effective Amendment”) is being filed pursuant to Section 10(a)(3) of the Securities Act to update our registration statement on Form S-1 (Registration No. 333-208549) (the “Registration Statement”), which was previously declared effective by the Securities and Exchange Commission on April 8, 2015, to (i) include the consolidated financial statements and the notes thereto for the fiscal year ended December 31, 2017, and (ii) update certain other information in the Registration Statement. No additional securities are being registered under this Post-Effective Amendment. All applicable registration fees were paid at the time of the original filing of the Registration Statement.

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Dec. 31, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 312,727	$ 454,030
Grant funds receivable	59,758	28,074
Prepaid expenses and other current assets	75,589	62,275
Total current assets	448,074	544,379
Property and equipment, net	31,151	54,828
Deposits	11,010	11,010
Total assets	490,235	610,217
Current liabilities:
Accounts payable	77,581	75,607
Accrued expenses (Note 4)	733,711	294,240
Total current liabilities	811,292	369,847
Commitments (Note 6)
Stockholders’ equity (deficiency):
Common stock, $.001 par value: Authorized shares – 600,000,000 and 300,000,000 at September 30, 2017 and December 31, 2016, respectively Issued and outstanding shares – 70,913,900 and 55,235,233 at December 31, 2017 and 2016, respectively	106,737	55,235
Additional paid-in capital	35,589,911	34,914,963
Accumulated deficit	(37,916,790)	(35,746,628)
Total stockholders’ equity (deficiency)	(321,057)	240,370
Total liabilities and stockholders’ equity	490,235	610,217
Series B Convertible Preferred Stock [Member]
Stockholders’ equity (deficiency):
Convertible Preferred Stock	76,095	76,095
Series C Convertible Preferred Stock [Member]
Stockholders’ equity (deficiency):
Convertible Preferred Stock	842,990	940,705
Series D Convertible Preferred Stock [Member]
Stockholders’ equity (deficiency):
Convertible Preferred Stock	$ 980,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2017	Dec. 31, 2016
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 issued (in shares)	106,736,810	55,235,233
Common stock, shares outstanding (in shares)	106,736,810	55,235,233
Common stock, shares authorized (in shares)	600,000,000	300,000,000
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)	2,570	2,868
Preferred stock, shares outstanding (in shares)	2,570	2,868
Series D Convertible Preferred Stock [Member]
Preferred stock, par value (in dollars per share)	$ 1,000	$ 1,000
Preferred stock, shares issued (in shares)	1,000	0
Preferred stock, shares outstanding (in shares)	1,000	0

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Grant and collaboration revenue	$ 1,075,270	$ 828,918	$ 428,081
Operating expenses:
Research and development	2,017,350	1,970,859	1,693,102
General and administrative	1,232,368	2,131,426	1,429,731
Total operating expenses	3,249,718	4,102,285	3,122,833
Loss from operations	(2,174,448)	(3,273,367)	(2,694,752)
Other income:
Interest income	4,286	1,666	5,465
Total other income	4,286	1,666	5,465
Net loss	$ (2,170,162)	$ (3,271,701)	$ (2,689,287)
Basic and diluted:
Loss per common share (in dollars per share)	$ (0.03)	$ (0.08)	$ (0.08)
Weighted average shares outstanding (in shares)	68,605,817	41,516,514	31,950,813

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Series B Convertible Preferred Stock [Member]	Series C Convertible Preferred Stock [Member]	Series D Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance at December 31, 2014 (in shares) at Dec. 31, 2014	100			31,950,813
Balance at December 31, 2014 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 at December 31, 2015 (in shares) at Dec. 31, 2015	100	3,000		31,950,813
Balance at December 31, 2015 at Dec. 31, 2015	$ 76,095	$ 983,941		$ 31,951	32,587,543	(32,474,927)	1,204,603
Stock-based compensation expense					967,667		967,667
Net loss						(3,271,701)	(3,271,701)
Balance at December 31, 2015 (in shares) at Dec. 31, 2016	100	2,868		55,235,233
Balance at December 31, 2015 at Dec. 31, 2016	$ 76,095	$ 940,705		$ 55,235	34,914,963	(35,746,628)	240,370
Conversion of preferred stock to common stock (in shares)		(132)		1,400,000
Conversion of preferred stock to common stock		$ (43,236)		$ 1,400	41,836
Sale of common stock for cash upon warrant exercise (in shares)				21,884,420
Sale of common stock for cash upon warrant exercise				$ 21,884	1,317,917		1,339,801
Sale of convertible preferred stock for cash (in shares)			1,000
Sale of convertible preferred stock for cash			$ 980,000				980,000
Stock-based compensation expense					57,224		57,224
Net loss						(2,170,162)	(2,170,162)
Balance at December 31, 2015 (in shares) at Dec. 31, 2017	100	2,570	1,000	106,736,810
Balance at December 31, 2015 at Dec. 31, 2017	$ 76,095	$ 842,990	$ 980,000	$ 106,737	35,589,911	$ (37,916,790)	(321,057)
Conversion of preferred stock to common stock (in shares)		(298)		19,862,000
Conversion of preferred stock to common stock		$ (97,715)		$ 19,862	77,853
Sale of common stock for cash upon warrant exercise (in shares)				31,639,577
Sale of common stock for cash upon warrant exercise				$ 31,640	$ 539,871		$ 571,511

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net loss	$ (2,170,162)	$ (3,271,701)	$ (2,689,287)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	28,027	28,780	28,935
Stock-based compensation expense	57,224	967,667	67,905
Changes in assets and liabilities:
Grant funds receivable	(31,684)	91,904	(40,637)
Prepaid expenses and other current assets	(13,314)	(5,626)	(12,146)
Accounts payable and accrued expenses	441,445	242,857	(60,033)
Total adjustments	481,698	1,325,582	(15,976)
Net cash used in operating activities	(1,688,464)	(1,946,119)	(2,705,263)
Cash flows from investing activities:
Purchase of property and equipment	(4,350)		(15,850)
Net cash used in investing activities	(4,350)		(15,850)
Cash flows from financing activities:
Net proceeds from sale of preferred stock	980,000		2,679,810
Net proceeds from sale of common stock	571,511	1,339,801
Net cash provided in financing activities	1,551,511	1,339,801	2,679,810
Net decrease in cash and cash equivalents	(141,303)	(606,318)	(41,303)
Cash and cash equivalents at beginning of period	454,030	1,060,348	1,101,651
Cash and cash equivalents at end of period	$ 312,727	$ 454,030	$ 1,060,348

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows (Parentheticals) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Convertible preferred stock (in shares)	298	123
Conversion of stock, shares issued (in shares)	19,862,000	1,400,000

Note 1 - Description of Busines

Note 1 - Description of Business	12 Months Ended
	Dec. 31, 2017
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 preventive vaccines against Human Immunodeficiency Virus (HIV), Zika Virus, hemorrhagic fever viruses (Ebola, Sudan, Marburg, Lassa), and malaria, as well as therapeutic vaccines for chronic Hepatitis B infections and cancers. 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. Certain of 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 one 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 - Summary of Significant

Note 2 - Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2017
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 We believe that our existing cash resources and government funding commitments will be sufficient to continue our planned operations into the third 2018. not may not 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 expense s during the reporting period. Actual results may Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three its 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 five In February 2016, Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016 02, Leases 2016 02 2016 02 December 15, 2018, not 2016 02 may 2016 02. 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 o be generated by such assets. If we consider such assets to be impaired, the impairment to be Accrued Expenses As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not third Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average numbe r 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 245.3 93.9 90.3 December 31, 2017, 2016 2015, Revenue Recognition During the years ended December 31, 2017, 2016 2015, e recognized revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 101, Revenue Recognition in Financial Statements, No. 104, Revenue Recognition, 104 104 2017, 2016 2015, 5 In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 606. five 2014 09 January 1, 2018. not 2014 09 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) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to third 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 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 a nd 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 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 aw ard 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 In March 2016, FASB issued Accounting Standards Update 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09” 718, 2016 09 2016 09 January 1, 2017; no In May 2017, 2017 09, Scope of Modification Accounting 2017 09” 718, 2017 09 1 2 718 2017 09 January 1, 2018. not 2017 09 Other Recent Accounting Pronouncements In July 2017, 2017 11, (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception 2017 11” 260, 480, 815, 2017 11 2017 11 January 1, 2019. 2017 11 Except as discussed above, t here have been no not

Note 3 - Property and Equipment

Note 3 - Property and Equipment	12 Months Ended
	Dec. 31, 2017
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, 2017 2016: 201 7 201 6 Laboratory equipment $ 530,306 $ 525,956 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 28,685 28,685 Total property and equipment 674,596 670,246 Accumulated depreciation and amortization (643,445 ) (615,418 ) Property and equipment, net $ 31,151 $ 54,828 Depreciation and leasehold amortization expense was $28,027, $28,780, $28,935 December 31, 2017, 2016 2015,

Note 4 - Accrued Expenses

Note 4 - Accrued Expenses	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	4. Accrued Expenses Accrued expenses as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2017 2016: 2017 2016 Accrued management salaries $ 532,615 $ 201,170 Accrued directors ’ fees 182,620 78,070 Other accrued expenses 18,476 15,000 Total accrued expenses $ 733,711 $ 294,240

Note 5 - Grants and Collaborati

Note 5 - Grants and Collaboration Revenue	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Government Grants and Contracts [Text Block]	5 . Grants and Collaboration Revenue Government Grants and Contracts We receive payments from government entities under our grants and contracts with the National Institute of Allergy and Infectious Diseases in support of certain of our vaccine research and development efforts. We record revenue associated with government grants and contracts as the reimbursable costs are incurred. During 2017, 2016, 2015, $980,270, $828,918, $428,081, December 31, 2017, $481,695 2018. Collaboration Revenue In March 2017, 1 $95,000, 2017.

Note 6 - Commitments

Note 6 - Commitments	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Commitments Disclosure [Text Block]	6 . Commitments Lease Agreement We lease approximately 8 ,400 December 31, 2018. December 31, 2017, 2016 2015 $151,748, $149,288, $146,092, $156,545 2018. Other Commitments In the normal course of business, we may ivities. As of December 31, 2017, $79,000 2018.

Note 7 - Preferred Stock

Note 7 - Preferred Stock	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Preferred Stock [Text Block]	7 . Preferred Stock Series B Convertible Preferred Stock Our Series B Convertible Preferred Stock, $1,000 a liquidation preference equal to the stated value per share. The Series B Preferred Stock has no not December 31, 2017, 100 Series B Preferred Stock outstanding, convertible at any time at the option of the holder into 285,714 Series C Convertible Preferred Stock In February 2015, 3,000 $1,000 Series C Preferred Stock”) and warrants to purchase up to an aggregate of 51,333,331 $2,679,810. $1,695,869 $983,941 The Series C Preferred Stock has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including a liquidation preference equal to the stated value per share. The Series C Preferred Stock has no not The Series C Preferred Stock is convertible at any time at the option of the holders into shares of our common stock, and contains price adjustment provisions which may, 2016, 132 1,400,000 2017, 298 19,862,000 In May 2017, $0.05 $0.015 As of December 31, 2017, 2,570 Series C Preferred Stock outstanding, convertible into 171,349,733 Series D Convertible Preferred Stock In May 2017, 1,000 $1,000 Series D Preferred Stock”), for gross proceeds of $1.0 $980,000. Each share of Series D Preferred Stock is entitled to a liquidation preference equal to the initial purchase price, has no is not $0.015 The Series D Preferred Shares contains price adjustment provisions, which may, We assessed the Series D Preferred Stock under ASC Topic 480, Distinguishing Liabilities from Equity 480” 815, Derivatives and Hedging 815” 470, Debt 470” 815 not 815.

Note 8 - Common Stock

Note 8 - Common Stock	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	8 . Common Stock Increase in Authorized Shares of Common Stock At a special meeting of our stockholders held on August 4, 2017, 300,000,000 600,000,000 August 4, 2017. Common Stock Transactions D uring 2017 2016, 19,862,000 1,400,000 7 During 2017, 31,639,577 $571,511. 2016, 21,884,420 $1,339,801. Stock Option Plans In 2006 2006 “2006 during 2016, 2016 “2016 1,550,300 2006 6,000,000 2016 2016 2006 September 28, 2016, no may 2006 2016 . The exercise price for any option granted may not 110% ten three Certain information concerning our stock opti on plans as of December 31, 2017, Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Term (yrs) Aggregate Intrinsic Value Outstanding at December 31, 201 6 3,499,475 $ 1.21 Granted 3,680,000 0.05 Exercised - - Forfeited or expired (155,200 ) 15.25 Outstanding at December 31, 201 7 7,024,275 $ 0.29 8.8 $ -0- Exercisable at December 31, 201 7 1,951,484 $ 0.90 6.6 $ -0- Stock Purchase Warrants The following table presents a summary of stock purchase warrant activity during the year ended December 31, 2017: Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2016 32,751,578 $ 0.07 Issued - - Exercised (31,639,577 ) 0.02 Forfeited or expired (1,112,001 ) 0.57 Outstanding and exercisable at December 31, 2017 -0- $ - Common Stock Reserved A summary of common stock reserved for future issuance as of December 31, 2017 Stock Option Plans 7,550,300 Series B Convertible Preferred Stock 285,714 Series C Convertible Preferred Stock 171,349,733 Series D Convertible Preferred Stock 66,666,666 Total 245,852,413

Note 9 - Stock-based Compensati

Note 9 - Stock-based Compensation	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	9 . Stock-Based Compensation Stock Option Plan s 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: 201 7 201 6 20 15 Weighted average risk-free interest rates 2.40 % 2.26 % 1.99 % Expected dividend yield 0.0 % 0.0 % 0.0 % Expected life of option (yrs) 7.0 7.0 7.0 Expected volatility 89.73 % 88.72 % 91.43 % Stock-based compensation expense related to our stock option plans was $57,224, $54,805, $67,905 December 31, 2017, 2016 2015, three December 31, 2017, 201 7 201 6 20 15 General and administrative expense $ 31,271 $ 31,191 $ 45,822 Research and development expense 25,953 23,614 22,083 Total stock option expense $ 57,224 $ 54,805 $ 67,905 As of December 31, 201 7, $218,280 2.6 Additional information concerning our stock options for t he years ended December 31, 2017, 2016 2015 201 7 201 6 201 5 Weighted average fair value of options granted $ 0.04 $ 0.05 $ 0.09 Intrinsic value of options exercised - - - Total fair value of options vested 58,337 54,757 66,622 Other Non-E mp loyee Stock-Based C ompensation We recorded general and administrative expense of $- 0 $912,862 0 December 31, 2017, 2016 2015,

Note 10 - Retirement Plan

Note 10 - Retirement Plan	12 Months Ended
	Dec. 31, 2017
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 401k December 31, 2017, 2016 2015 401k $29,265, $33,871, $40,296,

Note 11 - Income Taxes

Note 11 - Income Taxes	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Income Tax Disclosure [Text Block]	11 . Income Taxes At December 31, 2017 , we have a consolidated federal net operating loss (“NOL”) carryforward of approximately $70.9 2019 2037. $949,000 2022 2037 No 382 may may On December 22, 2017, The Tax Act makes broad changes to the U.S. tax code, including, but not 35% 21%. December 31, 2017, 21%. $10.1 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 th e following at December 31, 2017 2016: 201 7 201 6 Deferred tax assets: Net operating loss carryforward $ 16,273,259 $ 24,689,298 Research and development tax credit carryforward 949,340 892,231 Stock-based compensation expense 1,709,867 2,748,899 Accrued salaries and directors ’ fees 185,961 - Depreciation 5,532 1,331 Total deferred tax assets 19,123,959 28,331,759 Deferred tax liabilities - - Net deferred tax assets 19,123,959 28,331,759 Valuation allowance (19,123,959 ) (28,331,759 ) Net deferred tax asset after reduction for valuation allowance $ -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. A reconciliation of the income tax benefit on losses at the U.S. federal statutory rate to the reported income tax expense is as follows: 201 7 201 6 20 15 U.S. federal statutory rate applied to pretax loss $ (737,855 ) $ (1,112,378 ) $ (936,936 ) Permanent differences 436 2,012 2,914 Research and development credits 57,109 59,087 67,901 Impact of Tax Act 10,086,795 - - Change in valuation allowance (9,406,485 ) 1,051,279 866,121 Reported income tax expense $ -0- $ -0- $ -0-

Note 12 - Subsequent Events

Note 12 - Subsequent Events	12 Months Ended
	Dec. 31, 2017
Notes to Financial Statements
Subsequent Events [Text Block]	12 . Subsequent Event s During January February 2018, 300 20,000,000 During February 2018, 5,000,000 On February 28, 2018, five $50,000. 5%, second five 178,571 $0.042 On March 5, 2018, $600,000. $0.08 7,500,000

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2017
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 3 1, 2017, 2016 2015 Additions Description Balance at Beginning Of Period Charged to Costs and Expenses Charged to Other Accounts 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, 201 7 $ 28,331,759 $ 9,207,800 $ -0- $ -0- $ 19,123,959 Year ended December 31, 201 6 27,131,034 1,200,725 -0- -0- 28,331,759 Year ended December 31, 201 5 26,021,943 1,109,094 -0- -0- 27,131,034 F- 16

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2017
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 We believe that our existing cash resources and government funding commitments will be sufficient to continue our planned operations into the third 2018. not may not
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 expense s during the reporting period. Actual results may
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three its 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 five In February 2016, Financial Accounting Standards Board (FASB) issued Accounting Standards Update No. 2016 02, Leases 2016 02 2016 02 December 15, 2018, not 2016 02 may 2016 02.
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 o be generated by such assets. If we consider such assets to be impaired, the impairment to be
Accrued Liabilities [Policy Text Block]	Accrued Expenses As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not third
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 numbe r 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 245.3 93.9 90.3 December 31, 2017, 2016 2015,
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition During the years ended December 31, 2017, 2016 2015, e recognized revenue in accordance with U.S. Securities and Exchange Commission (SEC) Staff Accounting Bulletin No. 101, Revenue Recognition in Financial Statements, No. 104, Revenue Recognition, 104 104 2017, 2016 2015, 5 In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 606. five 2014 09 January 1, 2018. not 2014 09
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) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to third
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
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 a nd 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
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 aw ard 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 In March 2016, FASB issued Accounting Standards Update 2016 09, Improvements to Employee Share-Based Payment Accounting 2016 09” 718, 2016 09 2016 09 January 1, 2017; no In May 2017, 2017 09, Scope of Modification Accounting 2017 09” 718, 2017 09 1 2 718 2017 09 January 1, 2018. not 2017 09
New Accounting Pronouncements, Policy [Policy Text Block]	Other Recent Accounting Pronouncements In July 2017, 2017 11, (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception 2017 11” 260, 480, 815, 2017 11 2017 11 January 1, 2019. 2017 11 Except as discussed above, t here have been no not

Note 3 - Property and Equipme22

Note 3 - Property and Equipment (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Property, Plant and Equipment [Table Text Block]	201 7 201 6 Laboratory equipment $ 530,306 $ 525,956 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 28,685 28,685 Total property and equipment 674,596 670,246 Accumulated depreciation and amortization (643,445 ) (615,418 ) Property and equipment, net $ 31,151 $ 54,828

Note 4 - Accrued Expenses (Tabl

Note 4 - Accrued Expenses (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	2017 2016 Accrued management salaries $ 532,615 $ 201,170 Accrued directors ’ fees 182,620 78,070 Other accrued expenses 18,476 15,000 Total accrued expenses $ 733,711 $ 294,240

Note 8 - Common Stock (Tables)

Note 8 - Common Stock (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
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, 201 6 3,499,475 $ 1.21 Granted 3,680,000 0.05 Exercised - - Forfeited or expired (155,200 ) 15.25 Outstanding at December 31, 201 7 7,024,275 $ 0.29 8.8 $ -0- Exercisable at December 31, 201 7 1,951,484 $ 0.90 6.6 $ -0-
Schedule of Warrant Activity [Table Text Block]	Number of Shares Weighted Average Exercise Price Outstanding at December 31, 2016 32,751,578 $ 0.07 Issued - - Exercised (31,639,577 ) 0.02 Forfeited or expired (1,112,001 ) 0.57 Outstanding and exercisable at December 31, 2017 -0- $ -
Schedule of Stock by Class [Table Text Block]	Stock Option Plans 7,550,300 Series B Convertible Preferred Stock 285,714 Series C Convertible Preferred Stock 171,349,733 Series D Convertible Preferred Stock 66,666,666 Total 245,852,413

Note 9 - Stock-based Compensa25

Note 9 - Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]	201 7 201 6 20 15 Weighted average risk-free interest rates 2.40 % 2.26 % 1.99 % Expected dividend yield 0.0 % 0.0 % 0.0 % Expected life of option (yrs) 7.0 7.0 7.0 Expected volatility 89.73 % 88.72 % 91.43 %
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block]	201 7 201 6 20 15 General and administrative expense $ 31,271 $ 31,191 $ 45,822 Research and development expense 25,953 23,614 22,083 Total stock option expense $ 57,224 $ 54,805 $ 67,905
Share-based Compensation, Stock Options, Activity [Table Text Block]	201 7 201 6 201 5 Weighted average fair value of options granted $ 0.04 $ 0.05 $ 0.09 Intrinsic value of options exercised - - - Total fair value of options vested 58,337 54,757 66,622

Note 11 - Income Taxes (Tables)

Note 11 - Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2017
Notes Tables
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	201 7 201 6 Deferred tax assets: Net operating loss carryforward $ 16,273,259 $ 24,689,298 Research and development tax credit carryforward 949,340 892,231 Stock-based compensation expense 1,709,867 2,748,899 Accrued salaries and directors ’ fees 185,961 - Depreciation 5,532 1,331 Total deferred tax assets 19,123,959 28,331,759 Deferred tax liabilities - - Net deferred tax assets 19,123,959 28,331,759 Valuation allowance (19,123,959 ) (28,331,759 ) Net deferred tax asset after reduction for valuation allowance $ -0- $ -0-
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	201 7 201 6 20 15 U.S. federal statutory rate applied to pretax loss $ (737,855 ) $ (1,112,378 ) $ (936,936 ) Permanent differences 436 2,012 2,914 Research and development credits 57,109 59,087 67,901 Impact of Tax Act 10,086,795 - - Change in valuation allowance (9,406,485 ) 1,051,279 866,121 Reported income tax expense $ -0- $ -0- $ -0-

Schedule II - Valuation and Q27

Schedule II - Valuation and Qualifying Accounts (Tables)	12 Months Ended
	Dec. 31, 2017
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 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, 201 7 $ 28,331,759 $ 9,207,800 $ -0- $ -0- $ 19,123,959 Year ended December 31, 201 6 27,131,034 1,200,725 -0- -0- 28,331,759 Year ended December 31, 201 5 26,021,943 1,109,094 -0- -0- 27,131,034

Note 2 - Summary of Significa28

Note 2 - Summary of Significant Accounting Policies (Details Textual) - shares shares in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	245.3	93.9	90.3
Minimum [Member]
Property, Plant and Equipment, Useful Life	3 years
Maximum [Member]
Property, Plant and Equipment, Useful Life	5 years

Note 3 - Property and Equipme29

Note 3 - Property and Equipment (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Depreciation, Depletion and Amortization, Nonproduction	$ 28,027	$ 28,780	$ 28,935

Note 3 - Property and Equipme30

Note 3 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Property and equipment, gross	$ 674,596	$ 670,246
Accumulated depreciation and amortization	(643,445)	(615,418)
Property and equipment, net	31,151	54,828
Laboratory Equipment [Member]
Property and equipment, gross	530,306	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

Note 4 - Accrued Expenses - Sch

Note 4 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Accrued management salaries	$ 532,615	$ 201,170
Accrued directors’ fees	182,620	78,070
Other accrued expenses	18,476	15,000
Total accrued expenses	$ 733,711	$ 294,240

Note 5 - Grants and Collabora32

Note 5 - Grants and Collaboration Revenue (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue from Grants	$ 1,075,270	$ 828,918	$ 428,081
Revenue from Collaboration	95,000
NIH Grants [Member]
Revenue from Grants	980,270	$ 828,918	$ 428,081
Unused Grant Funds	$ 481,695

Note 6 - Commitments (Details T

Note 6 - Commitments (Details Textual)	12 Months Ended
	Dec. 31, 2017USD ($)ft²	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Area of Real Estate Property | ft²	8,400
Operating Leases, Rent Expense	$ 151,748	$ 149,288	$ 146,092
Operating Leases, Future Minimum Payments, Due in Two Years	156,545
Unrecorded Unconditional Purchase Obligation	$ 79,000

Note 7 - Preferred Stock (Detai

Note 7 - Preferred Stock (Details Textual) - USD ($)	1 Months Ended		12 Months Ended
	May 31, 2017	Feb. 28, 2015	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Apr. 30, 2017	Dec. 31, 2014
Preferred Stock, Par or Stated Value Per Share			$ 0.01	$ 0.01
Conversion of Stock, Shares Converted			298	123
Conversion of Stock, Shares Issued			19,862,000	1,400,000
Proceeds from Issuance of Convertible Preferred Stock			$ 980,000		$ 2,679,810
Conversion from Series C Convertible Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Converted			298	132
Conversion of Stock, Shares Issued			19,862,000	1,400,000
Warrants Issued in Connection with Series C Preferred Stock [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		51,333,331
Adjustments to Additional Paid in Capital, Warrant Issued		$ 1,695,869
Series A Convertible Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share							$ 1,000
Series B Convertible Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share			$ 1,000	$ 1,000
Preferred Stock, Shares Outstanding			100	100
Convertible Preferred Stock, Total Conversion Shares			285,714
Series C Convertible Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share		$ 1,000	$ 1,000	$ 1,000
Preferred Stock, Shares Outstanding			2,570	2,868
Convertible Preferred Stock, Total Conversion Shares			171,349,733
Stock Issued During Period, Shares, New Issues		3,000
Proceeds from Issuance of Preferred Stock, Preference Stock, and Warrants		$ 2,679,810
Stock Issued During Period, Value, New Issues		$ 983,941
Convertible Preferred Stock, Conversion Price Per Share	$ 0.015					$ 0.05
Series D Convertible Preferred Stock [Member]
Preferred Stock, Par or Stated Value Per Share	$ 1,000		$ 1,000	$ 1,000
Preferred Stock, Shares Outstanding			1,000	0
Stock Issued During Period, Shares, New Issues	1,000
Convertible Preferred Stock, Conversion Price Per Share			$ 0.015
Proceeds from Issuance of Convertible Preferred Stock	$ 1,000,000
Proceeds From Issuance Of Convertible Preferred Stock, Net of Issuance Cost	$ 980,000

Note 8 - Common Stock (Details

Note 8 - Common Stock (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Aug. 04, 2017	Aug. 03, 2017
Common Stock, Shares Authorized	600,000,000	300,000,000		600,000,000	300,000,000
Conversion of Stock, Shares Issued	19,862,000	1,400,000
Common Stock, Capital Shares Reserved for Future Issuance	245,852,413
2006 Equity Incentive Plan [Member]
Common Stock, Capital Shares Reserved for Future Issuance	1,550,300
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
2006 Equity Incentive Plan [Member] | Incentive Stock Options (ISO's) [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent	110.00%
Equity Incentive Plan 2016 [Member]
Common Stock, Capital Shares Reserved for Future Issuance	6,000,000
Expense Associated with Warrant Modifications [Member]
Stock Issued During Period, Shares, Warrants Exercised	31,639,577	21,884,420
Proceeds from Warrant Exercises	$ 571,511	$ 1,339,801
Conversion from Series C Convertible Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Issued	19,862,000	1,400,000

Note 8 - Common Stock - Activit

Note 8 - Common Stock - Activity of Stock Option Plan (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)$ / sharesshares
Outstanding, options (in shares) | shares	3,499,475
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares	$ 1.21
Granted, options (in shares) | shares	3,680,000
Granted, weighted average exercise price, options (in dollars per share) | $ / shares	$ 0.05
Forfeited or expired, options (in shares) | shares	(155,200)
Forfeited or expired, weighted average exercise price, options (in dollars per share) | $ / shares	$ 15.25
Outstanding, options (in shares) | shares	7,024,275
Outstanding, weighted average exercise price, options (in dollars per share) | $ / shares	$ 0.29
Outstanding, weighted average exercise price, options (Year)	8 years 292 days
Outstanding, weighted average exercise price, options | $	$ 0
Exercisable, options (in shares) | shares	1,951,484
Exercisable at March 31, 2016, weighted average exercise price, options (in dollars per share) | $ / shares	$ 0.90
Exercisable at March 31, 2016, weighted average exercise price, options (Year)	6 years 219 days
Exercisable at March 31, 2016, weighted average exercise price, options | $	$ 0

Note 8 - Common Stock - Activ37

Note 8 - Common Stock - Activity of Stock Purchase Warrants (Details)	12 Months Ended
	Dec. 31, 2017$ / sharesshares
Outstanding, shares (in shares) | shares	32,751,578
Outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 0.07
Issued (in shares) | shares
Issued (in dollars per share) | $ / shares
Exercised (in shares) | shares	(31,639,577)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 0.02
Forfeited or expired (in shares) | shares	(1,112,001)
Forfeited or expired, weighted average exercise price (in dollars per share) | $ / shares	$ 0.57
Outstanding, shares (in shares) | shares	0
Outstanding and exercisable at December 31, 2016 (in dollars per share) | $ / shares

Note 8 - Common Stock - Common

Note 8 - Common Stock - Common Stock Reserved for Future Issuance (Details)	Dec. 31, 2017shares
Common Stock, Reserved for Future Issuance (in shares)	245,852,413
Warrant [Member]
Common Stock, Reserved for Future Issuance (in shares)	7,550,300
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)	171,349,733
Series D Convertible Preferred Stock [Member]
Common Stock, Reserved for Future Issuance (in shares)	66,666,666

Note 9 - Stock-based Compensa39

Note 9 - Stock-based Compensation (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
General and Administrative Expense	$ 1,232,368	$ 2,131,426	$ 1,429,731
Expense Associated with Warrant Modifications [Member]
General and Administrative Expense	0	912,862	0
2006 Equity Incentive Plan [Member]
Allocated Share-based Compensation Expense	57,224	$ 54,805	$ 67,905
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized	$ 218,280
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition	2 years 219 days

Note 9 - Stock-based Compensa40

Note 9 - Stock-based Compensation - Significant Assumption Used in Fair Value Calculation (Details)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Weighted average risk-free interest rates	2.40%	2.26%	1.99%
Expected dividend yield	0.00%	0.00%	0.00%
Expected life of option (yrs) (Year)	7 years	7 years	7 years
Expected volatility	89.73%	88.72%	91.43%

Note 9 - Stock-based Compensa41

Note 9 - Stock-based Compensation - Allocation of Stock Option Expense (Details) - Employee Stock Option [Member] - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Allocated stock option expense	$ 57,224	$ 54,805	$ 67,905
General and Administrative Expense [Member]
Allocated stock option expense	31,271	31,191	45,822
Research and Development Expense [Member]
Allocated stock option expense	$ 25,953	$ 23,614	$ 22,083

Note 9 - Stock-based Compensa42

Note 9 - Stock-based Compensation - Additional Information for Stock Options (Details) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Weighted average fair value of options granted (in dollars per share)	$ 0.04	$ 0.05	$ 0.09
Intrinsic value of options exercised
Total fair value of options vested	$ 58,337	$ 54,757	$ 66,622

Note 10 - Retirement Plan (Deta

Note 10 - Retirement Plan (Details Textual) - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 29,265	$ 33,871	$ 40,296

Note 11 - Income Taxes (Details

Note 11 - Income Taxes (Details Textual) - USD ($)	12 Months Ended				198 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
Income Tax Expense (Benefit)		$ 0	$ 0	$ 0	$ 0
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%	35.00%
Deferred Tax Assets from Remeasurement due to Changes in Enacted Tax Rate		$ (10,100,000)
Deferred Tax Assets from Remeasurement due to Changes in Enacted Tax Rate [Member]
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount		(10,100,000)
Scenario, Forecast [Member]
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	21.00%
Research Tax Credit Carryforward [Member]
Tax Credit Carryforward, Amount		949,000			949,000
Domestic Tax Authority [Member]
Operating Loss Carryforwards		$ 70,900,000			$ 70,900,000

Note 11 - Income Taxes - Deferr

Note 11 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)	Dec. 31, 2017	Dec. 31, 2016
Deferred tax assets:
Net operating loss carryforward	$ 16,273,259	$ 24,689,298
Research and development tax credit carryforward	949,340	892,231
Stock-based compensation expense	1,709,867	2,748,899
Accrued salaries and directors’ fees	185,961
Depreciation	5,532	1,331
Total deferred tax assets	19,123,959	28,331,759
Deferred tax liabilities
Net deferred tax assets	19,123,959	28,331,759
Valuation allowance	(19,123,959)	(28,331,759)
Net deferred tax asset after reduction for valuation allowance	$ 0	$ 0

Note 11 - Income Taxes - Reconc

Note 11 - Income Taxes - Reconciliation of Income Tax Benefit (Details) - USD ($)	12 Months Ended			198 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2017
U.S. federal statutory rate applied to pretax loss	$ (737,855)	$ (1,112,378)	$ (936,936)
Permanent differences	436	2,012	2,914
Research and development credits	57,109	59,087	67,901
Impact of Tax Act	10,086,795
Change in valuation allowance	(9,406,485)	1,051,279	866,121
Reported income tax expense	$ 0	$ 0	$ 0	$ 0

Note 12 - Subsequent Events (De

Note 12 - Subsequent Events (Details Textual) - USD ($)	Mar. 05, 2018	Feb. 28, 2018	Feb. 28, 2018	Feb. 28, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Conversion of Stock, Shares Converted					298	123
Conversion of Stock, Shares Issued					19,862,000	1,400,000
Class of Warrant or Right, Exercise Price of Warrants or Rights						$ 0.07
Proceeds from Issuance of Convertible Preferred Stock					$ 980,000		$ 2,679,810
Subsequent Event [Member]
Stock Issued During Period, Shares, Warrants Exercised			5,000,000
Subsequent Event [Member] | Series E Convertible Preferred Stock [Member]
Proceeds from Issuance of Convertible Preferred Stock	$ 600,000
Convertible Preferred Stock, Conversion Price Per Share	$ 0.08
Convertible Preferred Stock, Total Conversion Shares	7,500,000
Subsequent Event [Member] | Warrants in Connection with Senior Promissory Note [Member]
Class of Warrant or Right, Term		5 years
Class of Warrant or Right, Number of Securities Called by Warrants or Rights		178,571	178,571	178,571
Class of Warrant or Right, Exercise Price of Warrants or Rights		$ 0.042	$ 0.042	$ 0.042
Subsequent Event [Member] | Senior Notes [Member]
Debt Instrument, Term		5 years
Proceeds from Issuance of Long-term Debt		$ 50,000
Debt Instrument, Interest Rate, Stated Percentage		5.00%	5.00%	5.00%
Conversion From Series D Convertible Preferred Stock To Common Stock [Member] | Subsequent Event [Member]
Conversion of Stock, Shares Converted				300
Conversion of Stock, Shares Issued				20,000,000

Schedule II - Valuation and Q48

Schedule II - Valuation and Qualifying Accounts (Details) - Valuation Allowance of Deferred Tax Assets [Member] - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Balance at Beginning Of Period	$ 28,331,759	$ 27,131,034	$ 26,021,943
Additions Charged to Costs and Expenses	9,207,800	1,200,725	1,109,094
Additions Charged to Other Accounts	0	0	0
Deductions	0	0	0
Balance at End Of Period	$ 19,123,959	$ 28,331,759	$ 27,131,034