Document And Entity Information
Document And Entity Information | 6 Months Ended |
Jun. 30, 2018shares | |
Document Information [Line Items] | |
Entity Registrant Name | Applied Minerals, Inc. |
Entity Central Index Key | 8,328 |
Trading Symbol | amnl |
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) | 107,393,146 |
Document Type | S-1/A |
Document Period End Date | Jun. 30, 2018 |
Document Fiscal Year Focus | 2,018 |
Document Fiscal Period Focus | Q2 |
Amendment Flag | true |
Amendment Description | Amendment 1 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 441,249 | $ 47,652 |
Accounts receivable | 4,492 | 27,265 |
Deposits and prepaid expenses | 90,953 | 205,922 |
Total Current Assets | 536,694 | 280,839 |
Property and Equipment, net | 2,157,429 | 2,802,391 |
Deposits | 253,176 | 240,934 |
TOTAL ASSETS | 2,947,299 | 3,324,164 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 797,724 | 963,609 |
PIK Note interest accrual | 338,741 | 57,334 |
Current portion of notes payable | 66,415 | 212,134 |
Total Current Liabilities | 1,202,880 | 1,233,077 |
Long-Term Liabilities | ||
PIK Notes payable, net of $9,755,832 and $15,143,123 debt discount, respectively | 35,955,200 | 33,244,605 |
PIK Note derivative | 8,748,518 | 2,047,264 |
Deferred Rent | 7,286 | 0 |
Total Long-Term Liabilities | 44,711,004 | 35,291,869 |
TOTAL LIABILITIES | 45,913,884 | 36,524,946 |
Stockholders’ (Deficit) | ||
Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock, $0.001 par value, 400,000,000 shares authorized, 140,763,549 and 108,613,549 shares issued and outstanding at December 31, 2017 and 2016, respectively | 173,639 | 140,764 |
Additional paid-in capital | 73,748,653 | 71,152,311 |
Accumulated deficit prior to the exploration stage | (20,009,496) | (20,009,496) |
Accumulated deficit during the exploration stage | (96,879,381) | (84,484,361) |
Total Stockholders’ (Deficit) | (42,966,585) | (33,200,782) |
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) | $ 2,947,299 | $ 3,324,164 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 07, 2017 | Dec. 06, 2017 | Dec. 31, 2016 |
PIK Notes payable, debt discount | $ 6,941,703 | $ 9,755,832 | $ 15,143,123 | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | ||
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | ||
Preferred stock, shares issued (in shares) | 0 | 0 | 0 | ||
Preferred stock, shares outstanding (in shares) | 0 | 0 | 0 | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 | 400,000,000 | 250,000,000 | 400,000,000 |
Common stock, shares issued (in shares) | 173,638,549 | 140,763,549 | 108,613,549 | ||
Common stock, shares outstanding (in shares) | 173,638,549 | 140,763,549 | 108,613,549 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
REVENUES | $ 92,438 | $ 143,679 | $ 148,303 | $ 1,357,413 | $ 795,282 | $ 923,711 | $ 975,328 | $ 1,112,467 | $ 1,001,628 | $ 138,085 | $ 2,152,695 | $ 2,444,677 | $ 4,013,134 |
OPERATING EXPENSES: | |||||||||||||
Production costs | 184,875 | 827,413 | 356,461 | 1,712,294 | 2,173,732 | 2,282,805 | |||||||
Exploration costs | 55,132 | 111,949 | 111,093 | 257,459 | 508,861 | 981,045 | |||||||
General and administrative | 875,909 | 486,810 | 2,074,955 | 1,473,438 | 3,683,330 | 4,069,508 | |||||||
Depreciation expense | 321,818 | 328,980 | 644,962 | 659,765 | 1,316,537 | 1,348,860 | |||||||
Total Operating Expenses | 1,437,734 | 1,755,152 | 3,187,471 | 4,102,956 | 7,682,460 | 8,573,454 | |||||||
Operating Loss | (1,345,296) | (1,982,366) | (1,305,156) | (397,739) | (1,552,522) | (1,017,490) | (1,153,204) | (1,097,913) | (1,291,713) | (3,049,386) | (1,950,261) | (5,237,783) | (4,560,320) |
OTHER INCOME (EXPENSE): | |||||||||||||
Interest expense, net, including amortization of deferred financing cost and debt discount | (578,904) | (2,242,956) | (3,120,955) | (4,316,150) | (9,923,430) | (6,339,473) | |||||||
Other income | 3,738 | 24,132 | 353,824 | 25,684 | 22,277 | 30,978 | |||||||
Total Other Income (Expense) | 1,026,257 | (1,477,707) | (9,345,635) | (2,653,625) | (9,672,876) | (3,079,452) | |||||||
Net loss | $ (319,039) | $ (5,899,706) | $ (4,407,067) | $ (1,875,446) | $ (2,728,440) | $ (2,106,846) | $ (1,810,425) | $ (3,185,359) | $ (537,142) | $ (12,395,021) | $ (4,603,886) | $ (14,910,659) | $ (7,639,772) |
Net Loss Per Share (Basic and Diluted) (in dollars per share) | $ 0 | $ (0.04) | $ (0.04) | $ (0.02) | $ (0.03) | $ (0.02) | $ (0.02) | $ (0.03) | $ (0.01) | $ (0.08) | $ (0.04) | $ (0.13) | $ (0.07) |
Weighted Average Shares Outstanding (Basic and Diluted) (in shares) | 161,874,813 | 108,715,747 | 153,860,925 | 108,664,930 | 118,977,573 | 103,124,288 | |||||||
PIK Note Derivative Liability [Member] | |||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||
Gain on revaluation of PIK Note derivative | $ 1,601,423 | $ 741,117 | $ (6,578,504) | $ 1,636,841 | $ 228,277 | $ 3,229,043 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit Prior to Exploration Stage [Member] | Accumulated Deficit During Exploration Stage [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 97,144,736 | ||||
Balance at Dec. 31, 2015 | $ 97,145 | $ 66,106,631 | $ (20,009,496) | $ (61,933,930) | $ (15,739,650) |
Shares issued for consulting services (in shares) | 203,980 | ||||
Shares issued for consulting services | $ 204 | 53,710 | 0 | 0 | 53,914 |
Stock option compensation expense | 0 | 659,706 | 0 | 0 | 659,706 |
Net Loss | $ 0 | 0 | 0 | (7,639,772) | (7,639,772) |
Balance (in shares) at Dec. 31, 2016 | 108,613,549 | ||||
Balance at Dec. 31, 2016 | $ 108,614 | 68,506,530 | (20,009,496) | (69,573,702) | (20,968,054) |
Shares issued for consulting services (in shares) | 250,000 | ||||
Shares issued for consulting services | $ 250 | 8,750 | 0 | 0 | $ 9,000 |
Shares issued for warrant exercise (in shares) | 3,125,000 | 3,125,000 | |||
Shares issued for warrant exercise | $ 3,125 | 121,875 | 0 | 0 | $ 125,000 |
Stock option compensation expense | 0 | 0 | 0 | 0 | 961,221 |
Net Loss | $ 0 | 0 | 0 | (14,910,659) | (14,910,659) |
Balance (in shares) at Dec. 31, 2017 | 140,763,549 | ||||
Balance at Dec. 31, 2017 | $ 140,764 | 71,152,311 | (20,009,496) | (84,484,361) | $ (33,200,781) |
Shares issued for consulting services (in shares) | 1,500,000 | 1,500,000 | |||
Shares issued for consulting services | $ 1,500 | 58,500 | 0 | 0 | $ 60,000 |
Shares and warrants issued in private placements (in shares) | 29,375,000 | ||||
Shares and warrants issued in private placements | $ 29,375 | 1,555,625 | 0 | 0 | 1,585,000 |
Shares issued for warrant exercise (in shares) | 2,000,000 | ||||
Shares issued for warrant exercise | $ 2,000 | 78,000 | 0 | 0 | 80,000 |
Stock option compensation expense | 0 | 904,217 | 0 | 0 | 904,217 |
Net Loss | $ 0 | 0 | 0 | (12,395,021) | (12,395,021) |
Balance (in shares) at Jun. 30, 2018 | 173,638,549 | ||||
Balance at Jun. 30, 2018 | $ 173,639 | $ 73,748,653 | $ (20,009,496) | $ (96,879,381) | $ (42,966,585) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash Flows from Operating Activities: | ||
Net loss | $ (12,395,021) | $ (4,603,886) |
Adjustments to reconcile net loss to net cash used in operations: | ||
Depreciation | 644,962 | 659,765 |
Amortization of discount - PIK Notes | 2,298,435 | 2,302,092 |
Amortization of deferred financing costs | 45,502 | 3,750 |
Non-cash interest on PIK Notes | 770,815 | 2,007,329 |
Stock issued for director fees | 0 | 9,000 |
Stock issued for consulting services | 60,000 | 0 |
Stock based compensation expense | 904,217 | 113,811 |
(Gain) loss on revaluation of PIK Note derivative | 6,578,504 | (1,636,841) |
Other | 0 | 1,000 |
Change in operating assets and liabilities: | ||
Accounts receivable | 22,773 | 263,446 |
Other current receivables | 0 | 16,801 |
Deposits and prepaids | 102,727 | 217,957 |
Accounts payable and accrued liabilities | (158,600) | 162,468 |
Net cash used in operating activities | (1,125,686) | (483,308) |
Cash Flows From Investing Activities | ||
Purchases of property and equipment | 0 | (41,323) |
Net cash used in investing activities | 0 | (41,323) |
Cash Flows From Financing Activities: | ||
Payments on notes payable | (145,717) | (163,156) |
Proceeds from sale of common stock | 1,585,000 | 0 |
Proceeds from exercise of options or warrants | 80,000 | 0 |
Net cash provided by (used in) financing activities | 1,519,283 | (163,156) |
Net change in cash and cash equivalents | 393,597 | (687,787) |
Cash and cash equivalents at beginning of period | 47,652 | 1,049,880 |
Cash and cash equivalents at end of period | 441,249 | 362,093 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 6,206 | 2,743 |
Supplemental disclosure of noncash financing activity: | ||
Accrued PIK interest paid through issuance of PIK Notes | $ 366,658 | $ 1,967,131 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash and cash equivalents | $ 47,652 | $ 1,049,880 |
Accounts receivable | 27,265 | 364,952 |
Deposits and prepaid expenses | 205,922 | 371,206 |
Other current receivables | 0 | 16,801 |
Total Current Assets | 280,839 | 1,802,839 |
Total | 2,802,391 | 4,075,176 |
Other Assets | ||
Deposits | 240,934 | 200,524 |
Assets Held for Sale | 0 | 1,000 |
Total Other Assets | 240,934 | 201,524 |
TOTAL ASSETS | 3,324,164 | 6,079,539 |
Current Liabilities | ||
Accounts payable and accrued liabilities | 963,609 | 622,331 |
PIK Note interest accrual | 57,334 | 961,395 |
Current portion of notes payable | 212,134 | 234,149 |
Total Current Liabilities | 1,233,077 | 1,817,875 |
Long-Term Liabilities | ||
Long-term portion of notes payable | 0 | 13,073 |
PIK Notes payable, net of $9,755,832 and $15,143,123 debt discount, respectively | 33,244,605 | 23,040,093 |
PIK Note derivative | 2,047,264 | 2,176,552 |
Total Long-Term Liabilities | 35,291,869 | 25,229,718 |
TOTAL LIABILITIES | 36,524,946 | 27,047,593 |
Commitments and Contingencies (Note 14) | ||
Stockholders’ (Deficit) | ||
Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding | 0 | 0 |
Common stock, $0.001 par value, 400,000,000 shares authorized, 140,763,549 and 108,613,549 shares issued and outstanding at December 31, 2017 and 2016, respectively | 140,764 | 108,614 |
Additional paid-in capital | 71,152,311 | 68,506,530 |
Accumulated deficit prior to the exploration stage | (20,009,496) | (20,009,496) |
Accumulated deficit during the exploration stage | (84,484,361) | (69,573,702) |
Total Stockholders’ (Deficit) | (33,200,782) | (20,968,054) |
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) | $ 3,324,164 | $ 6,079,539 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 07, 2017 | Dec. 06, 2017 | Dec. 31, 2016 |
PIK Notes payable, debt discount | $ 6,941,703 | $ 9,755,832 | $ 15,143,123 | ||
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | ||
Preferred stock, shares authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | ||
Preferred stock, shares issued (in shares) | 0 | 0 | 0 | ||
Preferred stock, shares outstanding (in shares) | 0 | 0 | 0 | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 | 400,000,000 | 250,000,000 | 400,000,000 |
Common stock, shares issued (in shares) | 173,638,549 | 140,763,549 | 108,613,549 | ||
Common stock, shares outstanding (in shares) | 173,638,549 | 140,763,549 | 108,613,549 |
Consolidated Statements of Ope9
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
REVENUES | $ 92,438 | $ 143,679 | $ 148,303 | $ 1,357,413 | $ 795,282 | $ 923,711 | $ 975,328 | $ 1,112,467 | $ 1,001,628 | $ 138,085 | $ 2,152,695 | $ 2,444,677 | $ 4,013,134 |
OPERATING EXPENSES: | |||||||||||||
Production costs | 184,875 | 827,413 | 356,461 | 1,712,294 | 2,173,732 | 2,282,805 | |||||||
Exploration costs | 55,132 | 111,949 | 111,093 | 257,459 | 508,861 | 981,045 | |||||||
General and administrative | 875,909 | 486,810 | 2,074,955 | 1,473,438 | 3,683,330 | 4,069,508 | |||||||
Depreciation expense | 321,818 | 328,980 | 644,962 | 659,765 | 1,316,537 | 1,348,860 | |||||||
(Gain) from disposition of land | 0 | (108,764) | |||||||||||
Total Operating Expenses | 1,437,734 | 1,755,152 | 3,187,471 | 4,102,956 | 7,682,460 | 8,573,454 | |||||||
Operating Loss | (1,345,296) | (1,982,366) | (1,305,156) | (397,739) | (1,552,522) | (1,017,490) | (1,153,204) | (1,097,913) | (1,291,713) | (3,049,386) | (1,950,261) | (5,237,783) | (4,560,320) |
OTHER INCOME (EXPENSE): | |||||||||||||
Interest expense, net, including amortization of deferred financing cost and debt discount | (578,904) | (2,242,956) | (3,120,955) | (4,316,150) | (9,923,430) | (6,339,473) | |||||||
Other income | 3,738 | 24,132 | 353,824 | 25,684 | 22,277 | 30,978 | |||||||
Total Other Income (Expense) | 1,026,257 | (1,477,707) | (9,345,635) | (2,653,625) | (9,672,876) | (3,079,452) | |||||||
Net loss | $ (319,039) | $ (5,899,706) | $ (4,407,067) | $ (1,875,446) | $ (2,728,440) | $ (2,106,846) | $ (1,810,425) | $ (3,185,359) | $ (537,142) | $ (12,395,021) | $ (4,603,886) | $ (14,910,659) | $ (7,639,772) |
Net Loss Per Share (Basic and Diluted) (in dollars per share) | $ 0 | $ (0.04) | $ (0.04) | $ (0.02) | $ (0.03) | $ (0.02) | $ (0.02) | $ (0.03) | $ (0.01) | $ (0.08) | $ (0.04) | $ (0.13) | $ (0.07) |
Weighted Average Shares Outstanding (Basic and Diluted) (in shares) | 161,874,813 | 108,715,747 | 153,860,925 | 108,664,930 | 118,977,573 | 103,124,288 | |||||||
PIK Note Derivative Liability [Member] | |||||||||||||
OTHER INCOME (EXPENSE): | |||||||||||||
Gain on revaluation of PIK Note derivative | $ 1,601,423 | $ 741,117 | $ (6,578,504) | $ 1,636,841 | $ 228,277 | $ 3,229,043 |
Consolidated Statements of St10
Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) | Private Placement [Member]Common Stock [Member] | Private Placement [Member]Additional Paid-in Capital [Member] | Private Placement [Member]Accumulated Deficit Prior to Exploration Stage [Member] | Private Placement [Member]Accumulated Deficit During Exploration Stage [Member] | Private Placement [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Accumulated Deficit Prior to Exploration Stage [Member] | Accumulated Deficit During Exploration Stage [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 97,144,736 | |||||||||
Balance at Dec. 31, 2015 | $ 97,145 | $ 66,106,631 | $ (20,009,496) | $ (61,933,930) | $ (15,739,650) | |||||
Shares issued for consulting services (in shares) | 203,980 | |||||||||
Shares issued for consulting services | $ 204 | 53,710 | 0 | 0 | 53,914 | |||||
Shares issued for employee compensation (in shares) | 331,494 | |||||||||
Shares issued for employee compensation | $ 332 | 57,416 | 0 | 0 | 57,748 | |||||
Stock Issued During Period, Shares, New Issues | 10,933,339 | 10,933,333 | ||||||||
Shares issued for private placement | $ 10,933 | $ 1,629,067 | $ 0 | $ 0 | $ 1,640,000 | |||||
Stock-based compensation expense | 0 | 659,706 | 0 | 0 | 659,706 | |||||
Net Income (Loss) Attributable to Parent, Total | 0 | 0 | 0 | (7,639,772) | (7,639,772) | |||||
Stock option compensation expense | $ 0 | 659,706 | 0 | 0 | 659,706 | |||||
Balance (in shares) at Dec. 31, 2016 | 108,613,549 | |||||||||
Balance at Dec. 31, 2016 | $ 108,614 | 68,506,530 | (20,009,496) | (69,573,702) | (20,968,054) | |||||
Shares issued for consulting services (in shares) | 250,000 | |||||||||
Shares issued for consulting services | $ 250 | 8,750 | 0 | 0 | 9,000 | |||||
Stock Issued During Period, Shares, New Issues | 26,500,000 | 26,500,000 | ||||||||
Shares issued for private placement | $ 26,500 | $ 1,033,500 | $ 0 | $ 0 | $ 1,060,000 | |||||
Stock-based compensation expense | 0 | 0 | 0 | 0 | 961,221 | |||||
Net Income (Loss) Attributable to Parent, Total | $ 0 | 0 | 0 | (14,910,659) | $ (14,910,659) | |||||
Shares issued for warrant exercise (in shares) | 3,125,000 | 3,125,000 | ||||||||
Shares issued for warrant exercise | $ 3,125 | 121,875 | 0 | 0 | $ 125,000 | |||||
Shares issued in lieu of payment for private placement fee (in shares) | 2,275,000 | 2,275,000 | 2,275,000 | |||||||
Shares issued in lieu of payment for private placement fee | $ 91,000 | $ 2,275 | (2,275) | 0 | 0 | $ 0 | ||||
Warrants issued to holders of Series A and Series 2023 Notes | 0 | 522,710 | 0 | 0 | 522,710 | |||||
Stock option compensation expense | $ 0 | 0 | 0 | 0 | 961,221 | |||||
Balance (in shares) at Dec. 31, 2017 | 140,763,549 | |||||||||
Balance at Dec. 31, 2017 | $ 140,764 | 71,152,311 | (20,009,496) | (84,484,361) | $ (33,200,781) | |||||
Shares issued for consulting services (in shares) | 1,500,000 | 1,500,000 | ||||||||
Shares issued for consulting services | $ 1,500 | 58,500 | 0 | 0 | $ 60,000 | |||||
Stock Issued During Period, Shares, New Issues | 8,000,000 | 29,375,000 | ||||||||
Shares issued for private placement | $ 29,375 | 1,555,625 | 0 | 0 | 1,585,000 | |||||
Stock-based compensation expense | 0 | 904,217 | 0 | 0 | 904,217 | |||||
Net Income (Loss) Attributable to Parent, Total | $ 0 | 0 | 0 | (12,395,021) | (12,395,021) | |||||
Shares issued for warrant exercise (in shares) | 2,000,000 | |||||||||
Shares issued for warrant exercise | $ 2,000 | 78,000 | 0 | 0 | 80,000 | |||||
Stock option compensation expense | $ 0 | 904,217 | 0 | 0 | 904,217 | |||||
Balance (in shares) at Jun. 30, 2018 | 173,638,549 | |||||||||
Balance at Jun. 30, 2018 | $ 173,639 | $ 73,748,653 | $ (20,009,496) | $ (96,879,381) | $ (42,966,585) |
Consolidated Statements of Ca11
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash Flows from Operating Activities: | ||
Net loss | $ (14,910,659) | $ (7,639,772) |
Adjustments to reconcile net loss to net cash used in operations: | ||
Depreciation | 1,316,537 | 1,348,860 |
Asset Impairment | 0 | 0 |
Amortization of discount - PIK Notes | 5,987,888 | 2,696,500 |
Amortization of deferred financing costs | 20,766 | 7,500 |
Non-cash interest on PIK Notes | 4,817,557 | 3,551,195 |
Stock issued for director and consulting services | 9,000 | 53,914 |
Stock based compensation expense | 961,221 | 659,706 |
(Gain) loss on revaluation of PIK Note derivative | (228,277) | (3,229,043) |
(Gain) from disposition of land | 0 | (108,764) |
Change in operating assets and liabilities: | ||
Accounts receivable | 337,687 | (188,747) |
Other current receivables | 16,801 | 77,846 |
Deposits and prepaids | 124,874 | 20,394 |
Accounts payable and accrued expenses | (562,783) | (39,426) |
Net Cash (Used In) Operating Activities | (2,108,388) | (2,732,089) |
Cash Flows From Investing Activities | ||
Sale of property | 0 | 552,944 |
Purchases of property and equipment | (43,752) | (217,211) |
Net cash used in investing activities | (43,752) | 335,733 |
Cash Flows From Financing Activities: | ||
Payments on notes payable | (234,149) | (237,235) |
Cash Received | 199,061 | 240,340 |
Proceeds from sale of common stock | 1,060,000 | 1,640,000 |
Proceeds from exercise of warrants | 125,000 | 0 |
Net cash provided by (used in) financing activities | 1,149,912 | 1,643,105 |
Net change in cash and cash equivalents | (1,002,228) | (753,251) |
Cash and cash equivalents at beginning of period | 1,049,880 | 1,803,131 |
Cash and cash equivalents at end of period | 47,652 | 1,049,880 |
Supplemental disclosure of cash flow information: | ||
Cash paid for interest | 6,365 | 4,956 |
Income Taxes | 430 | |
Employees [Member] | ||
Adjustments to reconcile net loss to net cash used in operations: | ||
Stock issued for employee compensation | $ 0 | $ 57,748 |
Note 1 - Organization and Descr
Note 1 - Organization and Description of Business | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1– Applied Minerals, Inc. (the “Company” or “Applied Minerals” or “we” or “us”) (OTCQB: AMNL) owns the Dragon Mine in central Utah. From the mine we extract, process, or have processed by a third We also engage in research and development and frequently work collaboratively with potential customers, consultants, distributors, and BASF to process and enhance our halloysite clay products to improve the performance of existing and new products. Our halloysite clay, which we market under the DRAGONITE™ trade name, is an aluminosilicate mineral with a hollow tubular shape. DRAGONITE can utilize halloysite’s morphology, high surface area, and reactivity to add significant functionality to a number of applications such as, but not Our iron oxide, which we market under the AMIRON™ trade name, is a high purity product. We have sold it on an exclusive basis to one not The Company is classified as an “exploration stage” company for purposes of Industry Guide 7 7, three not 7. 7. In 2017, . We have a mineral processing plant with a capacity of up to 45,000 Additionally, the Company has a second 10,000 not not For the foreseeable future, the Company expects to utilize a commercial-sized crusher to process its iron oxide to satisfy any sales of its AMIRON product. For the six June 30, 2018, two 63% June 30, 2018 two 0% Exploration Agreement On December 22, 2017, 5,590 5,590 ten In consideration of the Exploration License CMC has paid the Company $350,000 $150,000 first $250,000 first CMC may 100% The consideration to be paid by CMC to the Company after exercising the option for the acquisition of the Metallic Rights shall be payable as follows: $3,000,000; five 5% $20,000,000 Upon exercise of the option, the Company shall retain the all rights and title to ( 1 2 It is anticipated that CMC will acquire rights similar to the Metallic Rights with respect to contiguous and nearly properties and such rights will be contributed to a new company formed or designated by CMC to own and operate CMC’s Tintic District project, which would involve the Metallic rights and similar rights regarding adjacent or nearby properties (“PubCo”) that intends to go public. The Company shall have the right, at its sole election, to convert a portion of its NPI royalty interest into $2,000,000 2% not, ninety 90 not $20,000,000. The Agreement contains protections in favor of the Company against unreasonable interference of its current and future mining operations by CMC. CMC may not may, may not There are no 100% | NOTE 1 Applied Minerals, Inc. (the “Company”) is the owner of the Dragon Mine located in the Tintic Mining District of the State of Utah from where it produces halloysite clay and iron oxide. The Company is currently selling its DRAGONITE halloysite clay product regularly to four 4 In November, 2015, five not $5.0 November, 2015. June, 2017, 5 5 $8.0 twenty-four 24 may Applied Minerals, Inc. is a publicly traded company incorporated in the state of Delaware. The common stock trades on the OTC Bulletin Board under the symbol “AMNL.” For the years ended December 31, 2017 2016, 56% 88% December 31, 2017 2016, 0% 90% |
Note 2 - Liquidity and Basis of
Note 2 - Liquidity and Basis of Presentation | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Liquidity [Text Block] | NOTE 2 The Company has a history of recurring losses from operations and the use of cash in operating activities. For the six June 30, 2018, $12,395,021 $1,125,686. June 30, 2018, $536,694 $1,202,880 $338,741 $63,537 $59,810 $159,310 $156,200 Based on the Company’s current cash usage expectations, management believes it will not August 20, 2019. not not Management believes that in order for the Company to meet its obligations arising from normal business operations through August 20, 2019 | NOTE 2 The Company has a history of recurring losses from operations and the use of cash in operating activities. For the twelve December 31, 2017, $14,910,659 $2,108,388. December 31, 2017, $280,839 $1,233,077 $57,334 $204,700 may $158,700 $156,200 $15,000 |
Note 3 - Basis of Reporting and
Note 3 - Basis of Reporting and Significant Accounting Policies | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Significant Accounting Policies [Text Block] | NOTE 3– The accompanying unaudited condensed consolidated financial statements of Applied Minerals, Inc. have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not In the opinion of management, these interim unaudited condensed consolidated financial statements contain all of the adjustments of a normal and recurring nature which are considered necessary for a fair presentation of the financial position of the Company and the results of its operations and cash flows for the periods presented. The results of operations for the three six June 30, 2018 not December 31, 2017, 10 August 14, 2018. The accompanying interim unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes. The Company’s significant accounting policies and estimates remain unchanged from those detailed in the Company’s Annual Report on Form 10 December 31, 2017. Exploration-Stage Company Effective January 1, 2009, not no 7, Principles of Consolidation The accompanying consolidated financial statements include the accounts of Applied Minerals, Inc. and its inactive subsidiary, which holds 100 Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. In these consolidated financial statements, the warrant and PIK note derivative liabilities, stock compensation, impairment of long-lived assets and valuation allowance on income taxes involve extensive reliance on management’s estimates. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with a maturity of three Receivables Trade receivables are reported at outstanding principal amounts, net of an allowance for doubtful accounts. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party’s credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectable. No June 30, 2018 December 31, 2017. Property and Equipment Property and equipment are carried at cost net of accumulated depreciation and amortization. Depreciation and amortization is computed on the straight-line method over the estimated useful lives of the assets, or the life of the lease, whichever is shorter, as follows: Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 Depreciation expense for the three June 30, 2018 2017 $321,818, $328,980, six June 30, 2018 2017 $644,962 $659,765, Impairment of Long-lived Assets The Company periodically reviews the carrying amounts of long-lived assets to determine whether current events or circumstances warrant adjustment to such carrying amounts. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not not no June 30,2018 2017. Revenue Recognition Revenue includes sales of halloysite clay and iron oxide during 2017 In May 2014, not not December 31, 2017. January 1, 2018. 2018, Mining Exploration and Development Costs Land and mining property are carried at cost. The Company expenses prospecting and mining exploration costs. At the point when a property is determined to have proven and probable reserves, subsequent development costs will be capitalized and will be charged to operations using the units-of-production method over proven and probable reserves. Upon abandonment or sale of a mineral property, all capitalized costs relating to the specific property are written off in the period abandoned or sold and a gain or loss is recognized. Income taxes The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carry forwards, using enacted tax rates in effect in the years in which the differences are expected to reverse. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not not Authoritative guidance provides that the tax effects from an uncertain tax position taken or expected to be taken in a tax return can be recognized in our financial statements only if the position is more likely than not December 31, 2no Stock Options and Warrants The Company follows ASC 718 505 50 November 20, 2012, not 1 2 June 30, 2013 not Environmental Matters Expenditures for ongoing compliance with environmental regulations that relate to current operations are expensed or capitalized as appropriate. Expenditures resulting from the remediation of existing conditions caused by past operations that do not Estimates of such liabilities are based upon currently available facts, existing technology and presently enacted laws and regulations taking into consideration the likely effects of inflation and other societal and economic factors, and include estimates of associated legal costs. These amounts also reflect prior experience in remediating contaminated sites, other companies’ clean-up experience and data released by The Environmental Protection Agency or other organizations. Such estimates are by their nature imprecise and can be expected to be revised over time because of changes in government regulations, operations, technology and inflation. Recoveries are evaluated separately from the liability and, when recovery is assured, the Company records and reports an asset separately from the associated liability. Based upon management’s current assessment of its environmental responsibilities, it does not June 30, 2018. Recent Issued Accounting Pronouncements In May 2014, not not December 31, 2017. January 1, 2018. In February 2016, 2016 02 842” one not January 1, 2019. | NOTE 3 Exploration-Stage Company Effective January 1, 2009, not no 7, Principles of Consolidation The accompanying consolidated financial statements include the accounts of Applied Minerals, Inc. and its inactive subsidiary, which holds 100 Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. In these consolidated financial statements, the warrant and PIK note derivative liabilities, stock compensation, impairment of long-lived assets and valuation allowance on income taxes involve extensive reliance on management’s estimates. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with a maturity of three Receivables Trade receivables are reported at outstanding principal amounts, net of an allowance for doubtful accounts. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party’s credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectable. No December 31, 2017 2016. Property and Equipment Property and equipment are carried at cost net of accumulated depreciation and amortization. Depreciation and amortization is computed on the straight-line method over the estimated useful lives of the assets, or the life of the lease, whichever is shorter, as follows: Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 Depreciation expense for the years ended December 31, 2017 2016 $1,316,537, $1,348,860, Impairment of Long-lived Assets The Company periodically reviews the carrying amounts of long-lived assets to determine whether current events or circumstances warrant adjustment to such carrying amounts. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not not no December 31, 2017 2017. Revenue Recognition Revenue includes sales of halloysite clay and iron oxide, and is recognized when title passes to the buyer and when collectability is reasonably assured. Title passes to the buyer based on terms of the sales contract. Product pricing is determined based on contractual arrangements with the Company’s customers. Mining Exploration and Development Costs Land and mining property are carried at cost. The Company expenses prospecting and mining exploration costs. At the point when a property is determined to have proven and probable reserves, subsequent development costs will be capitalized and will be charged to operations using the units-of-production method over proven and probable reserves. Upon abandonment or sale of a mineral property, all capitalized costs relating to the specific property are written off in the period abandoned or sold and a gain or loss is recognized. Income taxes The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carry forwards, using enacted tax rates in effect in the years in which the differences are expected to reverse. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not not Authoritative guidance provides that the tax effects from an uncertain tax position taken or expected to be taken in a tax return can be recognized in our financial statements only if the position is more likely than not December 31, 2017 no Stock Options and Warrants The Company follows ASC 718 505 50 November 20, 2012, not 1 2 June 30, 2013 not Environmental Matters Expenditures for ongoing compliance with environmental regulations that relate to current operations are expensed or capitalized as appropriate. Expenditures resulting from the remediation of existing conditions caused by past operations that do not Estimates of such liabilities are based upon currently available facts, existing technology and presently enacted laws and regulations taking into consideration the likely effects of inflation and other societal and economic factors, and include estimates of associated legal costs. These amounts also reflect prior experience in remediating contaminated sites, other companies’ clean-up experience and data released by The Environmental Protection Agency or other organizations. Such estimates are by their nature imprecise and can be expected to be revised over time because of changes in government regulations, operations, technology and inflation. Recoveries are evaluated separately from the liability and, when recovery is assured, the Company records and reports an asset separately from the associated liability. Based upon management’s current assessment of its environmental responsibilities, it does not December 31, 2017. Recent Issued Accounting Pronouncements In May 2014, not not December 31, 2017. January 1, 2018 In February 2016, 2016 02 842” one not December 15, 2018, |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4– The following is a summary of property, plant, and equipment – at cost, less accumulated depreciation: June 30, December 31, 2018 2017 Land $ 500,000 $ 500,000 Land improvements 171,122 171,122 Buildings 3,129,519 3,129,519 Mining equipment 1,784,115 1,784,115 Milling equipment 2,841,726 2,841,726 Laboratory equipment 607,716 607,716 Office equipment 70,529 70,529 Vehicles 150,810 150,810 9,255,537 9,255,537 Less: Accumulated depreciation (7,098,108 ) (6,453,146 ) Total $ 2,157,429 $ 2,802,391 | NOTE 4 The following is a summary of property, plant, and equipment – at cost, less accumulated depreciation: December 31, 2017 2016 Land $ 500,000 $ 500,000 Land improvements 171,122 171,122 Buildings 3,129,519 3,129,519 Mining equipment 1,784,115 1,775,884 Milling equipment 2,841,726 2,806,834 Laboratory equipment 607,716 607,716 Office equipment 70,529 69,900 Vehicles 150,810 150,810 9,255,537 9,211,785 Less: Accumulated depreciation (6,453,146 ) (5,136,609 ) Total $ 2,802,391 $ 4,075,176 |
Note 5 - Fair Value Measurement
Note 5 - Fair Value Measurements and Financial Instruments | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Fair Value Disclosures [Text Block] | NOTE 5– ASC Topic 820, Fair Value Measurement and Disclosures three ● Level 1– ● Level 2– one ● Level 3– Liabilities measured at fair value on a recurring basis are summarized as follows at June 30, 2018: Fair value measurement using inputs Level 1 Level 2 Level 3 Financial instruments: Series 2023 Note Derivative $ -0- $ -0- $ 748,417 Series A Note Derivative $ -0- $ -0- $ 8,000,101 The following table summarizes the activity during the six June 2018 2017 3: Balance at December 31, 2017 $ 2,047,264 Balance at December 31, 2016 $ 2,176,552 Issuance of additional Series 2023 Notes - 0 - Issuance of additional Series 2023 Notes 25,038 Issuance of additional Series A Notes 122,750 Issuance of additional Series A Notes - 0 - Net unrealized gain (loss) included in operations 6,578,504 Net unrealized gain (loss) included in operations (1,636,841 ) Balance at June 30, 2018 $ 8,748,518 Balance at June 30, 2017 $ 564,749 The recorded value of certain financial assets and liabilities, which consist primarily of cash and cash equivalents, receivables, and accounts payable and accrued expenses approximate their fair value at June 30, 2018 December 31, 2017 $12,842,158 $11,395,208 June 30, 2018 December 31, 2017 ( 3 For the Company's warrant and PIK note derivative liabilities, Level 3 Series 2023 Note derivative liability Fair Value Measurements Using Inputs June 30, December 31, 2018 2017 Market price and estimated fair value of stock $ 0.17 $ 0.05 Exercise price (1) $ 0.59 $ 0.59 Term (years) 5.08 5.58 Dividend yield -0- -0- Expected volatility 130.4 % 115.3 % Risk-free interest rate 2.73 % 2.24 % ( 1 2023 December 2017 8. Series A Note derivative liability Fair Value Measurements Using Inputs June 30, December 31, 2018 2017 Market price and estimated fair value of stock $ 0.17 $ 0.05 Exercise price (1) $ 0.40 $ 0.40 Term (years) 5.09 5.58 Dividend yield -0- -0- Expected volatility 130.4 % 115.3 % Risk-free interest rate 2.73 % 2.24 % ( 1 December 2017 7. | NOTE 6 ASC Topic 820, Fair Value Measurement and Disclosures three ● Level 1 ● Level 2 one ● Level 3 Liabilities measured at fair value on a recurring basis are summarized as follows: Fair value measurement using inputs Carrying amount Level 1 Level 2 Level 3 December 31, 2017 December 31, 2016 Financial instruments: Series 2023 Note Derivative $ -0- $ -0- $ 163,634 $ 163,634 $ 142,909 Series A Note Derivative $ -0- $ -0- $ 1,883,630 $ 1,883,630 $ 2,033,643 The following table summarizes the activity for financial instruments at fair value using Level 3 2017 2016: 2017 2016 Balance at beginning of year $ 2,176,552 $ 5,138,857 Issuance of additional Series 2023 Notes 13,155 18,807 Issuance of additional Series A Notes 85,834 247,931 Net unrealized gain included in operations (228,277 ) (3,229,043 ) Balance at end of year $ 2,047,264 $ 2,176,552 The recorded value of certain financial assets and liabilities, which consist primarily of cash and cash equivalents, receivables, and accounts payable and accrued expenses approximate their fair value at December 31, 2017 2016 $11,395,208 $23,361,553 December 31, 2017 2016 3 For the Company's warrant and PIK note derivative liabilities, Level 3 Series 2023 Note derivative liability Fair Value Measurements Using Inputs December 31, 2017 December 31, 2016 Market price and estimated fair value of stock $ 0.05 $ 0.12 Exercise price (1) $ 0.59 $ 1.28 Term (years) 5.58 6.58 Dividend yield -0- -0- Expected volatility 115.3 % 86.2 % Risk-free interest rate 2.24 % 2.18 % ( 1 2023 December 2017 8. Series A Note derivative liability Fair Value Measurements Using Inputs December 31, 2017 December 31, 2016 Market price and estimated fair value of stock $ 0.05 $ 0.12 Exercise price (1) $ 0.40 $ 0.83 Term (years) 5.58 6.58 Dividend yield -0- -0- Expected volatility 115.3 % 86.2 % Risk-free interest rate 2.24 % 2.18 % ( 1 December 2017 8. |
Note 6 - Notes and Leases Payab
Note 6 - Notes and Leases Payable | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Debt Disclosure [Text Block] | NOTE 6 Notes payable at June 30, 2018 December 31, 2017: June 30, December 31, 2018 2017 Note payable for equipment, payable $1,339 monthly, including interest (a) $ 6,605 $ 13,073 Note payable to insurance companies, payable $5,045 - $17,959 monthly, (b) and (c) 59,810 199,061 66.415 212,134 Less: Current Portion (66,415 ) (212,134 ) Notes Payable, Long-Term Portion $ - 0 - $ - 0 - (a) On October 31, 2014, $65,120 $57,900 5.2%. $1,339 48 November 30, 2014. (b) The Company signed a note payable with an insurance company dated October 17, 2016 2.6% 4.15% (c) The Company signed a note payable with an insurance company dated October 17, 2017 3.1% 5.78% During the three June 30, 2018 2017, $705 $1,216, six June 30, 2018 2017, $6,206 $2,743, | NOTE 7 Notes payable at December 31, 2017 2016 December 31, 2017 2016 Note payable for equipment, payable $1,339 monthly, including interest (a) $ 13,073 $ 28,033 Note payable for mine site vehicle, payable $628 monthly (b) - 0 - 5,655 Note payable to insurance companies, payable $5,045 - $17,959 monthly, (c) and (d) 199,061 213,534 212,134 247,222 Less: Current Portion (212,134 ) (234,149 ) Notes Payable, Long-Term Portion $ - 0 - $ 13,073 (a) On October 31, 2014, $65,120 $57,900 5.2%. $1,339 48 November 30, 2014. (b) On September 20, 2012, $37,701 $628 60 October 20, 2012. (c) The Company signed a note payable with an insurance company dated October 17, 2016 2.6% 4.15% (d) The Company signed a note payable with an insurance company dated October 17, 2017 3.1% 5.78% During the 2017 2016, $6,365 $4,956, |
Note 7 - Convertible Debt (PIK
Note 7 - Convertible Debt (PIK Notes) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Convertible Debt [Text Block] | NOTE 7– The Company raised $23 two 2013 2023 2014 November 1, 2018 November 1, 2019, ( 10% $0.90, 2023 August 1, 2023, ( 10% $1.40, December 14, 2017, 2023 2023 2023 Key Terms Series 2023 Notes Series A Notes Inception Date 08/01/2013 11/03/2014 Cash Received $10,500,000 $12,500,000 Principal (Initial Liability) $10,500,000 $19,848,486 Maturity (Term) Matures on August 1, 2023, but convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Matures on May 1, 2023 but extends to August 1, 2023 if the Series 2023 Notes are still outstanding. Convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Exercise Price $0.59, adjusted downward based on anti-dilution provisions/downround protection $0.40, adjusted downward based on anti-dilution provisions/down-round protection; Stated Interest 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; Derivative Liability $2,055,000 established at inception due to the existence of down-round protection; revalued every quarter using Monte Carlo model $9,212,285 established at inception due to existence of down-round protection; revalued every quarter using a Monte Carlo model As of June 30, 2018, Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,152,402 $ 27,214,693 $ 43,367,095 Less: Discount (1,453,542 ) (5,488,161 ) (6,941,703 ) Less: Deferred Financing Cost (201,756 ) (268,436 ) (470,192 ) PIK Note Payable, Net $ 14,497,104 $ 21,548,096 $ 35,955,200 PIK Note Derivative Liability $ 748,417 $ 8,000,101 $ 8,748,518 As of December 31, 2017, Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,090,721 $ 26,909,716 $ 43,000,437 Less: Discount (1,538,299 ) (7,701,839 ) (9,240,138 ) Less: Deferred Financing Cost (221,280 ) (294,414 ) (515,694 ) PIK Note Payable, Net $ 14,331,142 $ 18,913,463 $ 33,244,605 PIK Note Derivative Liability $ 163,634 $ 1,883,630 $ 2,047,264 Series A Notes (Amended) On November 3, 2014 ( $19,848,486 10% 2018 $12,500,000 one The original terms of the Series A Notes included among other things: (i) a maturity of November 1, 2018 November 1, 2019, ( 10% $0.90, At June 30, 2018, $8,000,101. three six June 30, 2018, $80,142 $2,239,656, $304,977 $21,458,096 June 30, 2018. At December 31, 2017, $1,883,630, May November 2017 December, 2017. December 31, 2017, $5,808,294 $2,797,836, $26,909,721 December 31, 2017. As of June 30, 2018, Series 2023 In August 2013, $10,500,000 10% 2023 2023 2023 2023 February, 2017 August, 2017, $703,550 $738,728, 2023 December 14, 2017, $577,439 2023 2023 2023 The original terms of the Series 2023 August 1, 2023, ( 10% $1.40, At June 30, 2018, 2023 $748,417, February 2018. three six June 30, 2018, $50,115 $104,281, 2023 $61,681 2023 $14,497,104 June 30, 2018. At December 31, 2017, 2023 $163,634, February August 2016 December, 2017. December 31, 2017, $200,360 2023 $2,019,717 2023 $16,090,721 December 31, 2017. 2023 3,720,000 $0.10 $224,290. As of June 30, 2018, 2023 | NOTE 8 The Company raised $23 two 2013 2023 2014 November 1, 2018 November 1, 2019, ( 10% $0.90, 2023 August 1, 2023, ( 10% $1.40, December 14, 2017, 2023 2023 2023 Key Terms Series 2023 Notes Series A Notes Inception Date 08/01/2013 11/03/2014 Cash Received $10,500,000 $12,500,000 Principal (Initial Liability) $10,500,000 $19,848,486 Maturity (Term) Matures on August 1, 2023, but convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Matures on May 1, 2023 but extends to August 1, 2023 if the Series 2023 Notes are still outstanding. Convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Exercise Price $0.59, adjusted downward based on anti-dilution provisions/downround protection $0.40, adjusted downward based on anti-dilution provisions/down-round protection; Stated Interest 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; Derivative Liability $2,055,000 established at inception due to the existence of down-round protection; revalued every quarter using Monte Carlo model $9,212,285 established at inception due to existence of down-round protection; revalued every quarter using a Monte Carlo model As of December 31, 2017, Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,090,721 $ 26,909,716 $ 43,000,437 Less: Discount (1,538,299 ) (7,701,839 ) (9,240,138 ) Less: Deferred Financing Cost (221,280 ) (294,414 ) (515,694 ) PIK Note Payable, Net $ 14,331,142 $ 18,913,463 $ 33,244,605 PIK Note Derivative Liability $ 163,634 $ 1,883,630 $ 2,047,264 As of December 31, 2016, Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 14,071,008 $ 24,125,958 $ 38,196,966 Less: Discount (1,721,898 ) (13,421,225 ) (15,143,123 ) Less: Deferred Financing Cost (5,064 ) (8,686 ) (13,750 ) PIK Note Payable, Net $ 12,344,046 $ 10,696,047 $ 23,040,093 PIK Note Derivative Liability $ 142,909 $ 2,033,643 $ 2,176,552 Series A Notes (Amended) On November 3, 2014 ( $19,848,486 10% 2018 $12,500,000 one The original terms of the Series A Notes included among other things: (i) a maturity of November 1, 2018 November 1, 2019, ( 10% $0.90, 2023 8 November 5, 2014. Below are key amended terms of the Series A Notes: ● Maturity May 1, 2023 August 1, 2023 2023 ● Exercise Price $0.40 ● Stated Interest 10% December 14, 2017, 3% ● Liquidated Damages 1% not 90 30 ● The number of shares issuable under the Notes may The entire principal amount of the Series A Notes and accrued interest thereon shall be mandatorily converted into shares of the Company’s common stock if (i) the Volume Weighted Average Price (“VWAP”) of the thirty 30 $1.00 ten 10 $1.40; $1.00; 2023 2023 x five 5 not may 144 These Series A Notes were not $9,212,285 $7,348,486 $12,500,000 $19,848,486 $16,560,771 9 In May 2017 November 2017, $1,206,289 $1,266,613, December 14, 2017, $324,925 6,280,000 $0.10 $298,420. At December 31, 2017, $1,883,630, May November 2017 December, 2017. December 31, 2017, $5,808,294 $2,797,836, $26,909,721 December 31, 2017. At December 31, 2016, $2,033,643, May November 2016 December 31, 2016, $2,549,433 $2,243,003, $10,696,047 December 31, 2016. Series 2023 In August 2013, $10,500,000 10% 2023 2023 2023 2023 February, 2017 August, 2017, $703,550 $738,728, 2023 December 14, 2017, $577,439 2023 2023 2023 The Series 2023 $0.59 may 2023 2023 one ten 2023 No no 2023 December 31, 2017, These Series 2023 not $2,055,000 2023 2023 10 2023 2023 At December 31, 2017, 2023 $163,634, February August 2016 December, 2017. December 31, 2017, $200,360 2023 $2,019,717 2023 $16,090,721 December 31, 2017. 2023 3,720,000 $0.10 $224,290. At December 31, 2016, 2023 $142,909, February August 2016 December 31, 2016, $154,567 2023 $1,308,192, 2023 $12,344,046 December 31, 2016. |
Note 8 - Stockholders' Equity
Note 8 - Stockholders' Equity | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8– Preferred Stock The Company is authorized to issue 10,000,000 $0.001 June 30, 2018 December 31, 2017, no Common Stock On December 7, 2017, 250,000,000 400,000,000 $0.001 June 30, 2018 December 31, 2017, 173,638,549 140,763,54 2018 During the six June 30, 2018 1,500,000 $0.04 17,375,000 $0.04 3,000,000 $0.05 1,000,000 $0.10 2,000,000 $0.04 8,000,000 one one one one $0.15 $0.08 2017 During 2017, 250,000 $0.36 26,500,000 one one one 0.25 $0.04 2,275,000 $0.04 3,1250,000 $0.04 | NOTE 9 Preferred Stock The Company is authorized to issue 10,000,000 $0.001 December 31, 2017 2016, no Common Stock On December 7, 2017, 250,000,000 400,000,000 $0.001 December 31, 2017 2016, 140,763,549 108,613,549 2017 During 2017, 250,000 $9,000, 26,500,000 one one one 0.25 $1,060,000; 2,275,000 $91,000, 3,1250,000 $125,000 2016 During 2016, 10,933,333 one one one 0.3 $1,640,000 203,980 $53,914 |
Note 9 - Options and Warrants t
Note 9 - Options and Warrants to Purchase Common Stock | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Options And Warrants To Purchase Common Stock [Text Block] | NOTE 9– Outstanding Stock Warrants A summary of the status and changes of the warrants issued for the six 2018: Shares Issuable upon exercise of upon Exercise of Weighted Average Outstanding Warrants Exercise Price Outstanding at January 1, 2018 18,813,373 $ 0.14 Issued 8,000,000 $ 0.15 Exercised (2,000,000 ) $ 0.04 Forfeited -- -- Outstanding at June 30, 2018 24,813,373 $ 0.15 A summary of the status of the warrants outstanding and exercisable at June 30, 2018 Warrants Outstanding and Exercisable Shares Issuable Weighted Average upon Exercise of Remaining Weighted Average Exercise Price Outstanding Warrants Contractual Life (years) Exercise Price $ 1.15 461,340 2.8 $ 1.15 $ 0.25 3,283,283 3.0 $ 0.25 $ 0.04 2,068,750 4.3 $ 0.04 $ 0.10 11,000,000 4.5 $ 0.10 $ 0.15 8,000,000 3.0 $ 0.15 24,813,373 5.2 $ 0.15 Outstanding Stock Options On November 20, 2012, 2012 8,900,000 not In May, 2016, 2016 “2016 2016 2,000,000. On December 7, 2016, 2016 2016 may 2016 may may not 15,000,000 may The Compensation Committee of the Company Board of Directors has full authority to administer and interpret the 2016 2016 2016 On December 14, 2017, 2017 “2017 40,000,000 2017 The fair value of each of the Company's stock option awards is estimated on the date of grant using the Black-Scholes option-pricing model that uses the assumptions noted in the table below. Expected volatility is based on an average of historical volatility of the Company's common stock. The risk-free interest rate for periods within the contractual life of the stock option award is based on the yield curve of a zero The significant assumptions relating to the valuation of the Company's options granted during the six June 30, 2018 Dividend Yield 0% Expected Life (in years) 2.48 – 2.96 Expected Volatility 163.73% – 177.59% Risk Free Interest Rate 2.54% – 2.62% A summary of the status and changes of the options granted under stock option plans and other agreements during the six June 30, 2018: Shares Issuable Weighted Upon Exercise of Average Options Exercise Price Outstanding at December 31, 2017 57,057,768 $ 0.36 Granted 4,224,999 $ 0.11 Exercised -- -- Forfeited (232,645 ) 1.36 Outstanding at June 30, 2018 61,050,122 $ 0.34 During the six June 30, 2018, 4,224,999 $0.11. June, 2019. A summary of the status of the options outstanding at June 30, 2018 Options Outstanding Options Exercisable Number Outstanding Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price 35,322,222 9.34 $ 0.06 26,697,225 $ 0.06 545,289 9.48 $ 0.075 408,968 $ 0.075 377,777 4.93 $ 0.11 69,444 $ 0.11 3,000,000 4.61 $ 0.12 1,000,000 $ 0.12 500,000 3.13 $ 0.16 500,000 $ 0.16 81,395 5.64 $ 0.21 81,395 $ 0.21 100,000 2.22 $ 0.22 100,000 $ 0.22 1,066,155 2.87 $ 0.24 1,066,155 $ 0.24 2,087,500 4.29 $ 0.25 2,087,500 $ 0.25 35,595 4.79 $ 0.27 35,595 $ 0.27 474,815 5.86 $ 0.28 474,815 $ 0.28 234,506 4.64 $ 0.285 234,506 $ 0.285 81,522 2.56 $ 0.30 81,522 $ 0.30 200,000 6.63 $ 0.66 200,000 $ 0.66 150,000 6.61 $ 0.68 150,000 $ 0.68 7,233,277 0.50 $ 0.70 7,233,277 $ 0.70 488,356 6.89 $ 0.73 488,356 $ 0.73 3,104,653 3.65 $ 0.83 3,104,653 $ 0.83 975,000 5.95 $ 0.84 975,000 $ 0.84 300,000 5.14 $ 1.10 300,000 $ 1.10 300,000 4.99 $ 1.15 300,000 $ 1.15 115,000 2.74 $ 1.35 115,000 $ 1.35 300,000 3.90 $ 1.55 300,000 $ 1.55 3,077,060 4.39 $ 1.66 3,077,060 $ 1.66 900,000 3.14 $ 1.90 900,000 $ 1.90 61,050,122 6.82 $ 0.34 49,980,471 $ 0.40 On December 14, 2017, 27.5 $0.06 December 13, 2027. December 31, 2017, first fifty 50% $600,000 0.25 $0.04 two twenty-five 25% February 1, 2018 $900,000 8.3%, 8.3% 8.4% twelve $2 twelve $4 twelve June 30, 2018, not Compensation expense of $192,299 $775,299 three six June 30, 2018. June 30, 2018 $4,114,914. June 30, 2018, ( $442,520 0.53 $354,750 | NOTE 10 Outstanding Stock Warrants A summary of the status and changes of the warrants issued for 2017 2016 December 31, 2017 December 31, 2016 Shares issuable upon exercise of Weighted Average Shares issuable upon exercise of Weighted Average Outstanding Warrants Exercise Price Outstanding Warrants Exercise Price Outstanding at beginning of year 3,744,623 $ 0.36 461,340 $ 1.15 Issued 18,193,750 0.07 3,283,283 0.25 Exercised (3,125,000 ) 0.04 -- -- Forfeited -- -- -- Outstanding at end of year 18,813,373 0.14 3,744,623 0.36 A summary of the status of the warrants outstanding and exercisable at December 31, 2017 Warrants Outstanding and Exercisable Exercise Price Shares issuable upon exercise of Outstanding Warrants Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price $ 1.15 461,340 3.3 $ 1.15 $ 0.25 3,283,283 3.5 $ 0.25 $ 0.04 4,068,750 4.7 $ 0.04 $ 0.10 11,000,000 5.0 $ 0.10 18,813,373 4.6 $ 0.14 During June 2016, 10,933,333 $1,640,000 “June 2016 one one 0.3 $0.25 During August October 2017, 26,500,000 $1,060,000 “August 2017 2,275,000 August 2017 one one 0.25 $0.04 one four During 2017 12,500,000 3,125,000 $125,000 On December 14, 2017, 2023 2023 11,000,000 one $0.10. December 13, 2022. $522,710 2023 Outstanding Stock Options On November 20, 2012, 2012 8,900,000 not On December 7, 2016, 2016 2016 may 2016 may may not 15,000,000 may The Compensation Committee of the Company Board of Directors has full authority to administer and interpret the 2016 2016 2016 The fair value of each of the Company's stock option awards is estimated on the date of grant using the Black-Scholes option-pricing model that uses the assumptions noted in the table below. Expected volatility is based on an average of historical volatility of the Company's common stock. The risk-free interest rate for periods within the contractual life of the stock option award is based on the yield curve of a zero The significant assumptions relating to the valuation of the Company's options issued for 2017 2016 2017 2016 Dividend Yield 0% 0% Expected Life (in years) 2.50 – 6.27 2.00 – 9.02 Expected Volatility 114.98 – 167.28% 65.49 – 65.49% Risk Free Interest Rate 1.38 – 2.26% 0.76 – 1.78% A summary of the status and changes of the options granted under stock option plans and other agreements for 2017 2016 December 31, 2017 December 31, 2016 Weighted Weighted Average Average Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 21,277,479 $ 0.87 17,806,472 $ 1.00 Granted 35,810,289 $ 0.06 3,771,488 0.24 Exercised -- -- -- -- Forfeited (30,000 ) (300,481 ) 0.83 Outstanding at end of year 57,057,768 $ 0.36 21,277,479 $ 0.87 During the year ended December 31, 2017, 35,810,289 $0.06. 35,810,289 Vesting Information Shares Frequency Begin Date End Date 350,000 Immediately 05/23/2017 05/23/2017 300,000 Immediately 05/24/2017 05/24/2017 100,000 Immediately 10/01/2017 10/01/2017 140,000 Immediately 12/07/2017 12/07/2017 6,875,000 Quarterly 10/01/2017 07/01/2018 545,289 Quarterly 10/01/2017 07/01/2018 27,500,000 Performance* 12/14/2017 12/14/2027 * On December 14, 2017, 27.5 $0.06 December 13, 2027. December 31, 2017, first fifty 50% $600,000 0.25 $0.04 two twenty-five 25% February 1, 2018 $900,000 8.3%, 8.3% 8.4% twelve $2 twelve $4 twelve A summary of the status of the options outstanding at December 31, 2017 Options Outstanding Options Exercisable Weighted Average Weighted Weighted Remaining Average Average Number Contractual Exercise Number Exercise Outstanding Life (years) Price Exercisable Price 34,475,000 9.95 $ 0.06 15,568,718 $ 0.06 545,289 9.98 $ 0.075 45,289 $ 0.075 500,000 3.62 $ 0.16 500,000 $ 0.16 81,395 6.14 $ 0.21 40,698 $ 0.21 100,000 2.71 $ 0.22 100,000 $ 0.22 1,066,155 3.36 $ 0.24 1,066,155 $ 0.24 2,087,500 4.79 $ 0.25 2,087,500 $ 0.25 35,595 5.29 $ 0.27 17,798 $ 0.27 474,815 6.36 $ 0.28 362,408 $ 0.28 234,506 5.13 $ 0.285 234,506 $ 0.285 81,522 3.05 $ 0.30 40,716 $ 0.30 200,000 7.12 $ 0.66 200,000 $ 0.66 150,000 7.10 $ 0.68 99,990 $ 0.68 7,233,277 0.99 $ 0.70 7,233,277 $ 0.70 488,356 7.38 $ 0.73 371,666 $ 0.73 3,104,653 4.15 $ 0.83 3,104,653 $ 0.83 975,000 6.45 $ 0.84 975,000 $ 0.84 300,000 5.64 $ 1.10 300,000 $ 1.10 300,000 5.48 $ 1.15 300,000 $ 1.15 100,000 0.08 $ 1.24 100,000 $ 1.24 115,000 3.24 $ 1.35 115,000 $ 1.35 125,000 0.08 $ 1.45 125,000 $ 1.45 300,000 4.40 $ 1.55 300,000 $ 1.55 7,645 0.09 $ 1.58 7,645 $ 1.58 3,077,060 4.89 $ 1.66 3,077,060 $ 1.66 900,000 3.63 $ 1.90 900,000 $ 1.90 57,057,768 7.45 $ 0.36 37,273,079 $ 0.52 Compensation expense of $961,221, $698,350, December 31, 2017 2016, December 31, 2017 $0. December 31, 2017, ( $303,522 0.40 $709,500 On December 14, 2017, 27.5 $0.06 December 13, 2027. December 31, 2017, first fifty 50% $600,000 0.25 $0.04 two twenty-five 25% February 1, 2018 $900,000 8.3%, 8.3% 8.4% twelve $2 twelve $4 twelve |
Note 10 - Per Share Data
Note 10 - Per Share Data | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Earnings Per Share [Text Block] | NOTE 10 The computation of basic earnings (loss) per share of common stock is based on the weighted average number of shares outstanding during the year. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the year plus the common stock equivalents that would arise from the exercise of stock options and warrants outstanding under the treasury method and the average market price per share during the year as well as the conversion of notes. At June 30, 2018, 61,050,122 24,813,373 94,413,680, June 30, 2017, 21,897,479 3,744,623 40,677,826 | NOTE 11 The computation of basic earnings (loss) per share of common stock is based on the weighted average number of shares outstanding during the year. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the year plus the common stock equivalents that would arise from the exercise of stock options and warrants outstanding under the treasury method and the average market price per share during the year as well as the conversion of notes. At December 31, 2017, 57,057,768 18,813,373 94,546,696, December 31, 2016, 21,277,479 3,744,623 40,060,395 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Commitments and Contingencies Disclosure [Text Block] | NOTE 11– Office Lease On January 1, 2017, $6,000 March 31, 2017 April 1, 2017, 5 June 30, 2018, March 31, 2022, $442,997. June 30, 2018, $53,766 December 31, 2018, $163,998 December 31, 2019, $277,518 December 31, 2020, $394,452 December 31, 2021 $423,828 March 31, 2022. | NOTE 14 Office Lease On January 1, 2017, $6,000 March 31, 2017 April 1, 2017, 5 5 1 $8,700; 2 $8,961; 3 $9,230; 4 $9,507; 5 $9,792. |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Subsequent Events [Text Block] | NOTE 12 During July 2018, 1,875,000 $0.08 two 1,875,000 $0.15 | NOTE 17 In January 2, 2018, 1,500,000 In February 9, 2018, 2,500,000 one $100,000. On February 23, 2018, 1,125,000 one $45,000 On March 2, 2018, 3,000,000 three $150,000. On March 14, 2018, 500,000 500,000 $20,000. In April 3, 2018, 1,000,000 one $100,000. |
Note 1 - Organization and Des24
Note 1 - Organization and Description of Business | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1– Applied Minerals, Inc. (the “Company” or “Applied Minerals” or “we” or “us”) (OTCQB: AMNL) owns the Dragon Mine in central Utah. From the mine we extract, process, or have processed by a third We also engage in research and development and frequently work collaboratively with potential customers, consultants, distributors, and BASF to process and enhance our halloysite clay products to improve the performance of existing and new products. Our halloysite clay, which we market under the DRAGONITE™ trade name, is an aluminosilicate mineral with a hollow tubular shape. DRAGONITE can utilize halloysite’s morphology, high surface area, and reactivity to add significant functionality to a number of applications such as, but not Our iron oxide, which we market under the AMIRON™ trade name, is a high purity product. We have sold it on an exclusive basis to one not The Company is classified as an “exploration stage” company for purposes of Industry Guide 7 7, three not 7. 7. In 2017, . We have a mineral processing plant with a capacity of up to 45,000 Additionally, the Company has a second 10,000 not not For the foreseeable future, the Company expects to utilize a commercial-sized crusher to process its iron oxide to satisfy any sales of its AMIRON product. For the six June 30, 2018, two 63% June 30, 2018 two 0% Exploration Agreement On December 22, 2017, 5,590 5,590 ten In consideration of the Exploration License CMC has paid the Company $350,000 $150,000 first $250,000 first CMC may 100% The consideration to be paid by CMC to the Company after exercising the option for the acquisition of the Metallic Rights shall be payable as follows: $3,000,000; five 5% $20,000,000 Upon exercise of the option, the Company shall retain the all rights and title to ( 1 2 It is anticipated that CMC will acquire rights similar to the Metallic Rights with respect to contiguous and nearly properties and such rights will be contributed to a new company formed or designated by CMC to own and operate CMC’s Tintic District project, which would involve the Metallic rights and similar rights regarding adjacent or nearby properties (“PubCo”) that intends to go public. The Company shall have the right, at its sole election, to convert a portion of its NPI royalty interest into $2,000,000 2% not, ninety 90 not $20,000,000. The Agreement contains protections in favor of the Company against unreasonable interference of its current and future mining operations by CMC. CMC may not may, may not There are no 100% | NOTE 1 Applied Minerals, Inc. (the “Company”) is the owner of the Dragon Mine located in the Tintic Mining District of the State of Utah from where it produces halloysite clay and iron oxide. The Company is currently selling its DRAGONITE halloysite clay product regularly to four 4 In November, 2015, five not $5.0 November, 2015. June, 2017, 5 5 $8.0 twenty-four 24 may Applied Minerals, Inc. is a publicly traded company incorporated in the state of Delaware. The common stock trades on the OTC Bulletin Board under the symbol “AMNL.” For the years ended December 31, 2017 2016, 56% 88% December 31, 2017 2016, 0% 90% |
Note 2 - Liquidity and Basis 25
Note 2 - Liquidity and Basis of Presentation | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Liquidity [Text Block] | NOTE 2 The Company has a history of recurring losses from operations and the use of cash in operating activities. For the six June 30, 2018, $12,395,021 $1,125,686. June 30, 2018, $536,694 $1,202,880 $338,741 $63,537 $59,810 $159,310 $156,200 Based on the Company’s current cash usage expectations, management believes it will not August 20, 2019. not not Management believes that in order for the Company to meet its obligations arising from normal business operations through August 20, 2019 | NOTE 2 The Company has a history of recurring losses from operations and the use of cash in operating activities. For the twelve December 31, 2017, $14,910,659 $2,108,388. December 31, 2017, $280,839 $1,233,077 $57,334 $204,700 may $158,700 $156,200 $15,000 |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Significant Accounting Policies [Text Block] | NOTE 3– The accompanying unaudited condensed consolidated financial statements of Applied Minerals, Inc. have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). Accordingly, they do not In the opinion of management, these interim unaudited condensed consolidated financial statements contain all of the adjustments of a normal and recurring nature which are considered necessary for a fair presentation of the financial position of the Company and the results of its operations and cash flows for the periods presented. The results of operations for the three six June 30, 2018 not December 31, 2017, 10 August 14, 2018. The accompanying interim unaudited condensed consolidated financial statements reflect the application of certain significant accounting policies as described below and elsewhere in these notes. The Company’s significant accounting policies and estimates remain unchanged from those detailed in the Company’s Annual Report on Form 10 December 31, 2017. Exploration-Stage Company Effective January 1, 2009, not no 7, Principles of Consolidation The accompanying consolidated financial statements include the accounts of Applied Minerals, Inc. and its inactive subsidiary, which holds 100 Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. In these consolidated financial statements, the warrant and PIK note derivative liabilities, stock compensation, impairment of long-lived assets and valuation allowance on income taxes involve extensive reliance on management’s estimates. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with a maturity of three Receivables Trade receivables are reported at outstanding principal amounts, net of an allowance for doubtful accounts. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party’s credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectable. No June 30, 2018 December 31, 2017. Property and Equipment Property and equipment are carried at cost net of accumulated depreciation and amortization. Depreciation and amortization is computed on the straight-line method over the estimated useful lives of the assets, or the life of the lease, whichever is shorter, as follows: Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 Depreciation expense for the three June 30, 2018 2017 $321,818, $328,980, six June 30, 2018 2017 $644,962 $659,765, Impairment of Long-lived Assets The Company periodically reviews the carrying amounts of long-lived assets to determine whether current events or circumstances warrant adjustment to such carrying amounts. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not not no June 30,2018 2017. Revenue Recognition Revenue includes sales of halloysite clay and iron oxide during 2017 In May 2014, not not December 31, 2017. January 1, 2018. 2018, Mining Exploration and Development Costs Land and mining property are carried at cost. The Company expenses prospecting and mining exploration costs. At the point when a property is determined to have proven and probable reserves, subsequent development costs will be capitalized and will be charged to operations using the units-of-production method over proven and probable reserves. Upon abandonment or sale of a mineral property, all capitalized costs relating to the specific property are written off in the period abandoned or sold and a gain or loss is recognized. Income taxes The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carry forwards, using enacted tax rates in effect in the years in which the differences are expected to reverse. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not not Authoritative guidance provides that the tax effects from an uncertain tax position taken or expected to be taken in a tax return can be recognized in our financial statements only if the position is more likely than not December 31, 2no Stock Options and Warrants The Company follows ASC 718 505 50 November 20, 2012, not 1 2 June 30, 2013 not Environmental Matters Expenditures for ongoing compliance with environmental regulations that relate to current operations are expensed or capitalized as appropriate. Expenditures resulting from the remediation of existing conditions caused by past operations that do not Estimates of such liabilities are based upon currently available facts, existing technology and presently enacted laws and regulations taking into consideration the likely effects of inflation and other societal and economic factors, and include estimates of associated legal costs. These amounts also reflect prior experience in remediating contaminated sites, other companies’ clean-up experience and data released by The Environmental Protection Agency or other organizations. Such estimates are by their nature imprecise and can be expected to be revised over time because of changes in government regulations, operations, technology and inflation. Recoveries are evaluated separately from the liability and, when recovery is assured, the Company records and reports an asset separately from the associated liability. Based upon management’s current assessment of its environmental responsibilities, it does not June 30, 2018. Recent Issued Accounting Pronouncements In May 2014, not not December 31, 2017. January 1, 2018. In February 2016, 2016 02 842” one not January 1, 2019. | NOTE 3 Exploration-Stage Company Effective January 1, 2009, not no 7, Principles of Consolidation The accompanying consolidated financial statements include the accounts of Applied Minerals, Inc. and its inactive subsidiary, which holds 100 Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. In these consolidated financial statements, the warrant and PIK note derivative liabilities, stock compensation, impairment of long-lived assets and valuation allowance on income taxes involve extensive reliance on management’s estimates. Actual results could differ from those estimates. Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with a maturity of three Receivables Trade receivables are reported at outstanding principal amounts, net of an allowance for doubtful accounts. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party’s credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectable. No December 31, 2017 2016. Property and Equipment Property and equipment are carried at cost net of accumulated depreciation and amortization. Depreciation and amortization is computed on the straight-line method over the estimated useful lives of the assets, or the life of the lease, whichever is shorter, as follows: Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 Depreciation expense for the years ended December 31, 2017 2016 $1,316,537, $1,348,860, Impairment of Long-lived Assets The Company periodically reviews the carrying amounts of long-lived assets to determine whether current events or circumstances warrant adjustment to such carrying amounts. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not not no December 31, 2017 2017. Revenue Recognition Revenue includes sales of halloysite clay and iron oxide, and is recognized when title passes to the buyer and when collectability is reasonably assured. Title passes to the buyer based on terms of the sales contract. Product pricing is determined based on contractual arrangements with the Company’s customers. Mining Exploration and Development Costs Land and mining property are carried at cost. The Company expenses prospecting and mining exploration costs. At the point when a property is determined to have proven and probable reserves, subsequent development costs will be capitalized and will be charged to operations using the units-of-production method over proven and probable reserves. Upon abandonment or sale of a mineral property, all capitalized costs relating to the specific property are written off in the period abandoned or sold and a gain or loss is recognized. Income taxes The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carry forwards, using enacted tax rates in effect in the years in which the differences are expected to reverse. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not not Authoritative guidance provides that the tax effects from an uncertain tax position taken or expected to be taken in a tax return can be recognized in our financial statements only if the position is more likely than not December 31, 2017 no Stock Options and Warrants The Company follows ASC 718 505 50 November 20, 2012, not 1 2 June 30, 2013 not Environmental Matters Expenditures for ongoing compliance with environmental regulations that relate to current operations are expensed or capitalized as appropriate. Expenditures resulting from the remediation of existing conditions caused by past operations that do not Estimates of such liabilities are based upon currently available facts, existing technology and presently enacted laws and regulations taking into consideration the likely effects of inflation and other societal and economic factors, and include estimates of associated legal costs. These amounts also reflect prior experience in remediating contaminated sites, other companies’ clean-up experience and data released by The Environmental Protection Agency or other organizations. Such estimates are by their nature imprecise and can be expected to be revised over time because of changes in government regulations, operations, technology and inflation. Recoveries are evaluated separately from the liability and, when recovery is assured, the Company records and reports an asset separately from the associated liability. Based upon management’s current assessment of its environmental responsibilities, it does not December 31, 2017. Recent Issued Accounting Pronouncements In May 2014, not not December 31, 2017. January 1, 2018 In February 2016, 2016 02 842” one not December 15, 2018, |
Note 4 - Property and Equipme27
Note 4 - Property and Equipment - 2 | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Property, Plant and Equipment Disclosure [Text Block] | NOTE 4– The following is a summary of property, plant, and equipment – at cost, less accumulated depreciation: June 30, December 31, 2018 2017 Land $ 500,000 $ 500,000 Land improvements 171,122 171,122 Buildings 3,129,519 3,129,519 Mining equipment 1,784,115 1,784,115 Milling equipment 2,841,726 2,841,726 Laboratory equipment 607,716 607,716 Office equipment 70,529 70,529 Vehicles 150,810 150,810 9,255,537 9,255,537 Less: Accumulated depreciation (7,098,108 ) (6,453,146 ) Total $ 2,157,429 $ 2,802,391 | NOTE 4 The following is a summary of property, plant, and equipment – at cost, less accumulated depreciation: December 31, 2017 2016 Land $ 500,000 $ 500,000 Land improvements 171,122 171,122 Buildings 3,129,519 3,129,519 Mining equipment 1,784,115 1,775,884 Milling equipment 2,841,726 2,806,834 Laboratory equipment 607,716 607,716 Office equipment 70,529 69,900 Vehicles 150,810 150,810 9,255,537 9,211,785 Less: Accumulated depreciation (6,453,146 ) (5,136,609 ) Total $ 2,802,391 $ 4,075,176 |
Note 5 - Assets Held for Sale
Note 5 - Assets Held for Sale | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Asset Held for Sale [Text Block] | NOTE 5 In December 2015, four four January 2016 $172,948. $155,187, $17,761 April 21, 2016, fourth $418,000. $380,000, 10% |
Note 6 - Fair Value Measurement
Note 6 - Fair Value Measurements and Financial Instruments | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Fair Value Disclosures [Text Block] | NOTE 5– ASC Topic 820, Fair Value Measurement and Disclosures three ● Level 1– ● Level 2– one ● Level 3– Liabilities measured at fair value on a recurring basis are summarized as follows at June 30, 2018: Fair value measurement using inputs Level 1 Level 2 Level 3 Financial instruments: Series 2023 Note Derivative $ -0- $ -0- $ 748,417 Series A Note Derivative $ -0- $ -0- $ 8,000,101 The following table summarizes the activity during the six June 2018 2017 3: Balance at December 31, 2017 $ 2,047,264 Balance at December 31, 2016 $ 2,176,552 Issuance of additional Series 2023 Notes - 0 - Issuance of additional Series 2023 Notes 25,038 Issuance of additional Series A Notes 122,750 Issuance of additional Series A Notes - 0 - Net unrealized gain (loss) included in operations 6,578,504 Net unrealized gain (loss) included in operations (1,636,841 ) Balance at June 30, 2018 $ 8,748,518 Balance at June 30, 2017 $ 564,749 The recorded value of certain financial assets and liabilities, which consist primarily of cash and cash equivalents, receivables, and accounts payable and accrued expenses approximate their fair value at June 30, 2018 December 31, 2017 $12,842,158 $11,395,208 June 30, 2018 December 31, 2017 ( 3 For the Company's warrant and PIK note derivative liabilities, Level 3 Series 2023 Note derivative liability Fair Value Measurements Using Inputs June 30, December 31, 2018 2017 Market price and estimated fair value of stock $ 0.17 $ 0.05 Exercise price (1) $ 0.59 $ 0.59 Term (years) 5.08 5.58 Dividend yield -0- -0- Expected volatility 130.4 % 115.3 % Risk-free interest rate 2.73 % 2.24 % ( 1 2023 December 2017 8. Series A Note derivative liability Fair Value Measurements Using Inputs June 30, December 31, 2018 2017 Market price and estimated fair value of stock $ 0.17 $ 0.05 Exercise price (1) $ 0.40 $ 0.40 Term (years) 5.09 5.58 Dividend yield -0- -0- Expected volatility 130.4 % 115.3 % Risk-free interest rate 2.73 % 2.24 % ( 1 December 2017 7. | NOTE 6 ASC Topic 820, Fair Value Measurement and Disclosures three ● Level 1 ● Level 2 one ● Level 3 Liabilities measured at fair value on a recurring basis are summarized as follows: Fair value measurement using inputs Carrying amount Level 1 Level 2 Level 3 December 31, 2017 December 31, 2016 Financial instruments: Series 2023 Note Derivative $ -0- $ -0- $ 163,634 $ 163,634 $ 142,909 Series A Note Derivative $ -0- $ -0- $ 1,883,630 $ 1,883,630 $ 2,033,643 The following table summarizes the activity for financial instruments at fair value using Level 3 2017 2016: 2017 2016 Balance at beginning of year $ 2,176,552 $ 5,138,857 Issuance of additional Series 2023 Notes 13,155 18,807 Issuance of additional Series A Notes 85,834 247,931 Net unrealized gain included in operations (228,277 ) (3,229,043 ) Balance at end of year $ 2,047,264 $ 2,176,552 The recorded value of certain financial assets and liabilities, which consist primarily of cash and cash equivalents, receivables, and accounts payable and accrued expenses approximate their fair value at December 31, 2017 2016 $11,395,208 $23,361,553 December 31, 2017 2016 3 For the Company's warrant and PIK note derivative liabilities, Level 3 Series 2023 Note derivative liability Fair Value Measurements Using Inputs December 31, 2017 December 31, 2016 Market price and estimated fair value of stock $ 0.05 $ 0.12 Exercise price (1) $ 0.59 $ 1.28 Term (years) 5.58 6.58 Dividend yield -0- -0- Expected volatility 115.3 % 86.2 % Risk-free interest rate 2.24 % 2.18 % ( 1 2023 December 2017 8. Series A Note derivative liability Fair Value Measurements Using Inputs December 31, 2017 December 31, 2016 Market price and estimated fair value of stock $ 0.05 $ 0.12 Exercise price (1) $ 0.40 $ 0.83 Term (years) 5.58 6.58 Dividend yield -0- -0- Expected volatility 115.3 % 86.2 % Risk-free interest rate 2.24 % 2.18 % ( 1 December 2017 8. |
Note 7 - Notes and Leases Payab
Note 7 - Notes and Leases Payable | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Debt Disclosure [Text Block] | NOTE 6 Notes payable at June 30, 2018 December 31, 2017: June 30, December 31, 2018 2017 Note payable for equipment, payable $1,339 monthly, including interest (a) $ 6,605 $ 13,073 Note payable to insurance companies, payable $5,045 - $17,959 monthly, (b) and (c) 59,810 199,061 66.415 212,134 Less: Current Portion (66,415 ) (212,134 ) Notes Payable, Long-Term Portion $ - 0 - $ - 0 - (a) On October 31, 2014, $65,120 $57,900 5.2%. $1,339 48 November 30, 2014. (b) The Company signed a note payable with an insurance company dated October 17, 2016 2.6% 4.15% (c) The Company signed a note payable with an insurance company dated October 17, 2017 3.1% 5.78% During the three June 30, 2018 2017, $705 $1,216, six June 30, 2018 2017, $6,206 $2,743, | NOTE 7 Notes payable at December 31, 2017 2016 December 31, 2017 2016 Note payable for equipment, payable $1,339 monthly, including interest (a) $ 13,073 $ 28,033 Note payable for mine site vehicle, payable $628 monthly (b) - 0 - 5,655 Note payable to insurance companies, payable $5,045 - $17,959 monthly, (c) and (d) 199,061 213,534 212,134 247,222 Less: Current Portion (212,134 ) (234,149 ) Notes Payable, Long-Term Portion $ - 0 - $ 13,073 (a) On October 31, 2014, $65,120 $57,900 5.2%. $1,339 48 November 30, 2014. (b) On September 20, 2012, $37,701 $628 60 October 20, 2012. (c) The Company signed a note payable with an insurance company dated October 17, 2016 2.6% 4.15% (d) The Company signed a note payable with an insurance company dated October 17, 2017 3.1% 5.78% During the 2017 2016, $6,365 $4,956, |
Note 8 - Convertible Debt (PIK
Note 8 - Convertible Debt (PIK Notes) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Convertible Debt [Text Block] | NOTE 7– The Company raised $23 two 2013 2023 2014 November 1, 2018 November 1, 2019, ( 10% $0.90, 2023 August 1, 2023, ( 10% $1.40, December 14, 2017, 2023 2023 2023 Key Terms Series 2023 Notes Series A Notes Inception Date 08/01/2013 11/03/2014 Cash Received $10,500,000 $12,500,000 Principal (Initial Liability) $10,500,000 $19,848,486 Maturity (Term) Matures on August 1, 2023, but convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Matures on May 1, 2023 but extends to August 1, 2023 if the Series 2023 Notes are still outstanding. Convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Exercise Price $0.59, adjusted downward based on anti-dilution provisions/downround protection $0.40, adjusted downward based on anti-dilution provisions/down-round protection; Stated Interest 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; Derivative Liability $2,055,000 established at inception due to the existence of down-round protection; revalued every quarter using Monte Carlo model $9,212,285 established at inception due to existence of down-round protection; revalued every quarter using a Monte Carlo model As of June 30, 2018, Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,152,402 $ 27,214,693 $ 43,367,095 Less: Discount (1,453,542 ) (5,488,161 ) (6,941,703 ) Less: Deferred Financing Cost (201,756 ) (268,436 ) (470,192 ) PIK Note Payable, Net $ 14,497,104 $ 21,548,096 $ 35,955,200 PIK Note Derivative Liability $ 748,417 $ 8,000,101 $ 8,748,518 As of December 31, 2017, Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,090,721 $ 26,909,716 $ 43,000,437 Less: Discount (1,538,299 ) (7,701,839 ) (9,240,138 ) Less: Deferred Financing Cost (221,280 ) (294,414 ) (515,694 ) PIK Note Payable, Net $ 14,331,142 $ 18,913,463 $ 33,244,605 PIK Note Derivative Liability $ 163,634 $ 1,883,630 $ 2,047,264 Series A Notes (Amended) On November 3, 2014 ( $19,848,486 10% 2018 $12,500,000 one The original terms of the Series A Notes included among other things: (i) a maturity of November 1, 2018 November 1, 2019, ( 10% $0.90, At June 30, 2018, $8,000,101. three six June 30, 2018, $80,142 $2,239,656, $304,977 $21,458,096 June 30, 2018. At December 31, 2017, $1,883,630, May November 2017 December, 2017. December 31, 2017, $5,808,294 $2,797,836, $26,909,721 December 31, 2017. As of June 30, 2018, Series 2023 In August 2013, $10,500,000 10% 2023 2023 2023 2023 February, 2017 August, 2017, $703,550 $738,728, 2023 December 14, 2017, $577,439 2023 2023 2023 The original terms of the Series 2023 August 1, 2023, ( 10% $1.40, At June 30, 2018, 2023 $748,417, February 2018. three six June 30, 2018, $50,115 $104,281, 2023 $61,681 2023 $14,497,104 June 30, 2018. At December 31, 2017, 2023 $163,634, February August 2016 December, 2017. December 31, 2017, $200,360 2023 $2,019,717 2023 $16,090,721 December 31, 2017. 2023 3,720,000 $0.10 $224,290. As of June 30, 2018, 2023 | NOTE 8 The Company raised $23 two 2013 2023 2014 November 1, 2018 November 1, 2019, ( 10% $0.90, 2023 August 1, 2023, ( 10% $1.40, December 14, 2017, 2023 2023 2023 Key Terms Series 2023 Notes Series A Notes Inception Date 08/01/2013 11/03/2014 Cash Received $10,500,000 $12,500,000 Principal (Initial Liability) $10,500,000 $19,848,486 Maturity (Term) Matures on August 1, 2023, but convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Matures on May 1, 2023 but extends to August 1, 2023 if the Series 2023 Notes are still outstanding. Convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Exercise Price $0.59, adjusted downward based on anti-dilution provisions/downround protection $0.40, adjusted downward based on anti-dilution provisions/down-round protection; Stated Interest 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; Derivative Liability $2,055,000 established at inception due to the existence of down-round protection; revalued every quarter using Monte Carlo model $9,212,285 established at inception due to existence of down-round protection; revalued every quarter using a Monte Carlo model As of December 31, 2017, Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,090,721 $ 26,909,716 $ 43,000,437 Less: Discount (1,538,299 ) (7,701,839 ) (9,240,138 ) Less: Deferred Financing Cost (221,280 ) (294,414 ) (515,694 ) PIK Note Payable, Net $ 14,331,142 $ 18,913,463 $ 33,244,605 PIK Note Derivative Liability $ 163,634 $ 1,883,630 $ 2,047,264 As of December 31, 2016, Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 14,071,008 $ 24,125,958 $ 38,196,966 Less: Discount (1,721,898 ) (13,421,225 ) (15,143,123 ) Less: Deferred Financing Cost (5,064 ) (8,686 ) (13,750 ) PIK Note Payable, Net $ 12,344,046 $ 10,696,047 $ 23,040,093 PIK Note Derivative Liability $ 142,909 $ 2,033,643 $ 2,176,552 Series A Notes (Amended) On November 3, 2014 ( $19,848,486 10% 2018 $12,500,000 one The original terms of the Series A Notes included among other things: (i) a maturity of November 1, 2018 November 1, 2019, ( 10% $0.90, 2023 8 November 5, 2014. Below are key amended terms of the Series A Notes: ● Maturity May 1, 2023 August 1, 2023 2023 ● Exercise Price $0.40 ● Stated Interest 10% December 14, 2017, 3% ● Liquidated Damages 1% not 90 30 ● The number of shares issuable under the Notes may The entire principal amount of the Series A Notes and accrued interest thereon shall be mandatorily converted into shares of the Company’s common stock if (i) the Volume Weighted Average Price (“VWAP”) of the thirty 30 $1.00 ten 10 $1.40; $1.00; 2023 2023 x five 5 not may 144 These Series A Notes were not $9,212,285 $7,348,486 $12,500,000 $19,848,486 $16,560,771 9 In May 2017 November 2017, $1,206,289 $1,266,613, December 14, 2017, $324,925 6,280,000 $0.10 $298,420. At December 31, 2017, $1,883,630, May November 2017 December, 2017. December 31, 2017, $5,808,294 $2,797,836, $26,909,721 December 31, 2017. At December 31, 2016, $2,033,643, May November 2016 December 31, 2016, $2,549,433 $2,243,003, $10,696,047 December 31, 2016. Series 2023 In August 2013, $10,500,000 10% 2023 2023 2023 2023 February, 2017 August, 2017, $703,550 $738,728, 2023 December 14, 2017, $577,439 2023 2023 2023 The Series 2023 $0.59 may 2023 2023 one ten 2023 No no 2023 December 31, 2017, These Series 2023 not $2,055,000 2023 2023 10 2023 2023 At December 31, 2017, 2023 $163,634, February August 2016 December, 2017. December 31, 2017, $200,360 2023 $2,019,717 2023 $16,090,721 December 31, 2017. 2023 3,720,000 $0.10 $224,290. At December 31, 2016, 2023 $142,909, February August 2016 December 31, 2016, $154,567 2023 $1,308,192, 2023 $12,344,046 December 31, 2016. |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Stockholders' Equity Note Disclosure [Text Block] | NOTE 8– Preferred Stock The Company is authorized to issue 10,000,000 $0.001 June 30, 2018 December 31, 2017, no Common Stock On December 7, 2017, 250,000,000 400,000,000 $0.001 June 30, 2018 December 31, 2017, 173,638,549 140,763,54 2018 During the six June 30, 2018 1,500,000 $0.04 17,375,000 $0.04 3,000,000 $0.05 1,000,000 $0.10 2,000,000 $0.04 8,000,000 one one one one $0.15 $0.08 2017 During 2017, 250,000 $0.36 26,500,000 one one one 0.25 $0.04 2,275,000 $0.04 3,1250,000 $0.04 | NOTE 9 Preferred Stock The Company is authorized to issue 10,000,000 $0.001 December 31, 2017 2016, no Common Stock On December 7, 2017, 250,000,000 400,000,000 $0.001 December 31, 2017 2016, 140,763,549 108,613,549 2017 During 2017, 250,000 $9,000, 26,500,000 one one one 0.25 $1,060,000; 2,275,000 $91,000, 3,1250,000 $125,000 2016 During 2016, 10,933,333 one one one 0.3 $1,640,000 203,980 $53,914 |
Note 10 - Options and Warrants
Note 10 - Options and Warrants to Purchase Common Stock | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Options And Warrants To Purchase Common Stock [Text Block] | NOTE 9– Outstanding Stock Warrants A summary of the status and changes of the warrants issued for the six 2018: Shares Issuable upon exercise of upon Exercise of Weighted Average Outstanding Warrants Exercise Price Outstanding at January 1, 2018 18,813,373 $ 0.14 Issued 8,000,000 $ 0.15 Exercised (2,000,000 ) $ 0.04 Forfeited -- -- Outstanding at June 30, 2018 24,813,373 $ 0.15 A summary of the status of the warrants outstanding and exercisable at June 30, 2018 Warrants Outstanding and Exercisable Shares Issuable Weighted Average upon Exercise of Remaining Weighted Average Exercise Price Outstanding Warrants Contractual Life (years) Exercise Price $ 1.15 461,340 2.8 $ 1.15 $ 0.25 3,283,283 3.0 $ 0.25 $ 0.04 2,068,750 4.3 $ 0.04 $ 0.10 11,000,000 4.5 $ 0.10 $ 0.15 8,000,000 3.0 $ 0.15 24,813,373 5.2 $ 0.15 Outstanding Stock Options On November 20, 2012, 2012 8,900,000 not In May, 2016, 2016 “2016 2016 2,000,000. On December 7, 2016, 2016 2016 may 2016 may may not 15,000,000 may The Compensation Committee of the Company Board of Directors has full authority to administer and interpret the 2016 2016 2016 On December 14, 2017, 2017 “2017 40,000,000 2017 The fair value of each of the Company's stock option awards is estimated on the date of grant using the Black-Scholes option-pricing model that uses the assumptions noted in the table below. Expected volatility is based on an average of historical volatility of the Company's common stock. The risk-free interest rate for periods within the contractual life of the stock option award is based on the yield curve of a zero The significant assumptions relating to the valuation of the Company's options granted during the six June 30, 2018 Dividend Yield 0% Expected Life (in years) 2.48 – 2.96 Expected Volatility 163.73% – 177.59% Risk Free Interest Rate 2.54% – 2.62% A summary of the status and changes of the options granted under stock option plans and other agreements during the six June 30, 2018: Shares Issuable Weighted Upon Exercise of Average Options Exercise Price Outstanding at December 31, 2017 57,057,768 $ 0.36 Granted 4,224,999 $ 0.11 Exercised -- -- Forfeited (232,645 ) 1.36 Outstanding at June 30, 2018 61,050,122 $ 0.34 During the six June 30, 2018, 4,224,999 $0.11. June, 2019. A summary of the status of the options outstanding at June 30, 2018 Options Outstanding Options Exercisable Number Outstanding Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price 35,322,222 9.34 $ 0.06 26,697,225 $ 0.06 545,289 9.48 $ 0.075 408,968 $ 0.075 377,777 4.93 $ 0.11 69,444 $ 0.11 3,000,000 4.61 $ 0.12 1,000,000 $ 0.12 500,000 3.13 $ 0.16 500,000 $ 0.16 81,395 5.64 $ 0.21 81,395 $ 0.21 100,000 2.22 $ 0.22 100,000 $ 0.22 1,066,155 2.87 $ 0.24 1,066,155 $ 0.24 2,087,500 4.29 $ 0.25 2,087,500 $ 0.25 35,595 4.79 $ 0.27 35,595 $ 0.27 474,815 5.86 $ 0.28 474,815 $ 0.28 234,506 4.64 $ 0.285 234,506 $ 0.285 81,522 2.56 $ 0.30 81,522 $ 0.30 200,000 6.63 $ 0.66 200,000 $ 0.66 150,000 6.61 $ 0.68 150,000 $ 0.68 7,233,277 0.50 $ 0.70 7,233,277 $ 0.70 488,356 6.89 $ 0.73 488,356 $ 0.73 3,104,653 3.65 $ 0.83 3,104,653 $ 0.83 975,000 5.95 $ 0.84 975,000 $ 0.84 300,000 5.14 $ 1.10 300,000 $ 1.10 300,000 4.99 $ 1.15 300,000 $ 1.15 115,000 2.74 $ 1.35 115,000 $ 1.35 300,000 3.90 $ 1.55 300,000 $ 1.55 3,077,060 4.39 $ 1.66 3,077,060 $ 1.66 900,000 3.14 $ 1.90 900,000 $ 1.90 61,050,122 6.82 $ 0.34 49,980,471 $ 0.40 On December 14, 2017, 27.5 $0.06 December 13, 2027. December 31, 2017, first fifty 50% $600,000 0.25 $0.04 two twenty-five 25% February 1, 2018 $900,000 8.3%, 8.3% 8.4% twelve $2 twelve $4 twelve June 30, 2018, not Compensation expense of $192,299 $775,299 three six June 30, 2018. June 30, 2018 $4,114,914. June 30, 2018, ( $442,520 0.53 $354,750 | NOTE 10 Outstanding Stock Warrants A summary of the status and changes of the warrants issued for 2017 2016 December 31, 2017 December 31, 2016 Shares issuable upon exercise of Weighted Average Shares issuable upon exercise of Weighted Average Outstanding Warrants Exercise Price Outstanding Warrants Exercise Price Outstanding at beginning of year 3,744,623 $ 0.36 461,340 $ 1.15 Issued 18,193,750 0.07 3,283,283 0.25 Exercised (3,125,000 ) 0.04 -- -- Forfeited -- -- -- Outstanding at end of year 18,813,373 0.14 3,744,623 0.36 A summary of the status of the warrants outstanding and exercisable at December 31, 2017 Warrants Outstanding and Exercisable Exercise Price Shares issuable upon exercise of Outstanding Warrants Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price $ 1.15 461,340 3.3 $ 1.15 $ 0.25 3,283,283 3.5 $ 0.25 $ 0.04 4,068,750 4.7 $ 0.04 $ 0.10 11,000,000 5.0 $ 0.10 18,813,373 4.6 $ 0.14 During June 2016, 10,933,333 $1,640,000 “June 2016 one one 0.3 $0.25 During August October 2017, 26,500,000 $1,060,000 “August 2017 2,275,000 August 2017 one one 0.25 $0.04 one four During 2017 12,500,000 3,125,000 $125,000 On December 14, 2017, 2023 2023 11,000,000 one $0.10. December 13, 2022. $522,710 2023 Outstanding Stock Options On November 20, 2012, 2012 8,900,000 not On December 7, 2016, 2016 2016 may 2016 may may not 15,000,000 may The Compensation Committee of the Company Board of Directors has full authority to administer and interpret the 2016 2016 2016 The fair value of each of the Company's stock option awards is estimated on the date of grant using the Black-Scholes option-pricing model that uses the assumptions noted in the table below. Expected volatility is based on an average of historical volatility of the Company's common stock. The risk-free interest rate for periods within the contractual life of the stock option award is based on the yield curve of a zero The significant assumptions relating to the valuation of the Company's options issued for 2017 2016 2017 2016 Dividend Yield 0% 0% Expected Life (in years) 2.50 – 6.27 2.00 – 9.02 Expected Volatility 114.98 – 167.28% 65.49 – 65.49% Risk Free Interest Rate 1.38 – 2.26% 0.76 – 1.78% A summary of the status and changes of the options granted under stock option plans and other agreements for 2017 2016 December 31, 2017 December 31, 2016 Weighted Weighted Average Average Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 21,277,479 $ 0.87 17,806,472 $ 1.00 Granted 35,810,289 $ 0.06 3,771,488 0.24 Exercised -- -- -- -- Forfeited (30,000 ) (300,481 ) 0.83 Outstanding at end of year 57,057,768 $ 0.36 21,277,479 $ 0.87 During the year ended December 31, 2017, 35,810,289 $0.06. 35,810,289 Vesting Information Shares Frequency Begin Date End Date 350,000 Immediately 05/23/2017 05/23/2017 300,000 Immediately 05/24/2017 05/24/2017 100,000 Immediately 10/01/2017 10/01/2017 140,000 Immediately 12/07/2017 12/07/2017 6,875,000 Quarterly 10/01/2017 07/01/2018 545,289 Quarterly 10/01/2017 07/01/2018 27,500,000 Performance* 12/14/2017 12/14/2027 * On December 14, 2017, 27.5 $0.06 December 13, 2027. December 31, 2017, first fifty 50% $600,000 0.25 $0.04 two twenty-five 25% February 1, 2018 $900,000 8.3%, 8.3% 8.4% twelve $2 twelve $4 twelve A summary of the status of the options outstanding at December 31, 2017 Options Outstanding Options Exercisable Weighted Average Weighted Weighted Remaining Average Average Number Contractual Exercise Number Exercise Outstanding Life (years) Price Exercisable Price 34,475,000 9.95 $ 0.06 15,568,718 $ 0.06 545,289 9.98 $ 0.075 45,289 $ 0.075 500,000 3.62 $ 0.16 500,000 $ 0.16 81,395 6.14 $ 0.21 40,698 $ 0.21 100,000 2.71 $ 0.22 100,000 $ 0.22 1,066,155 3.36 $ 0.24 1,066,155 $ 0.24 2,087,500 4.79 $ 0.25 2,087,500 $ 0.25 35,595 5.29 $ 0.27 17,798 $ 0.27 474,815 6.36 $ 0.28 362,408 $ 0.28 234,506 5.13 $ 0.285 234,506 $ 0.285 81,522 3.05 $ 0.30 40,716 $ 0.30 200,000 7.12 $ 0.66 200,000 $ 0.66 150,000 7.10 $ 0.68 99,990 $ 0.68 7,233,277 0.99 $ 0.70 7,233,277 $ 0.70 488,356 7.38 $ 0.73 371,666 $ 0.73 3,104,653 4.15 $ 0.83 3,104,653 $ 0.83 975,000 6.45 $ 0.84 975,000 $ 0.84 300,000 5.64 $ 1.10 300,000 $ 1.10 300,000 5.48 $ 1.15 300,000 $ 1.15 100,000 0.08 $ 1.24 100,000 $ 1.24 115,000 3.24 $ 1.35 115,000 $ 1.35 125,000 0.08 $ 1.45 125,000 $ 1.45 300,000 4.40 $ 1.55 300,000 $ 1.55 7,645 0.09 $ 1.58 7,645 $ 1.58 3,077,060 4.89 $ 1.66 3,077,060 $ 1.66 900,000 3.63 $ 1.90 900,000 $ 1.90 57,057,768 7.45 $ 0.36 37,273,079 $ 0.52 Compensation expense of $961,221, $698,350, December 31, 2017 2016, December 31, 2017 $0. December 31, 2017, ( $303,522 0.40 $709,500 On December 14, 2017, 27.5 $0.06 December 13, 2027. December 31, 2017, first fifty 50% $600,000 0.25 $0.04 two twenty-five 25% February 1, 2018 $900,000 8.3%, 8.3% 8.4% twelve $2 twelve $4 twelve |
Note 11 - Per Share Data
Note 11 - Per Share Data | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Earnings Per Share [Text Block] | NOTE 10 The computation of basic earnings (loss) per share of common stock is based on the weighted average number of shares outstanding during the year. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the year plus the common stock equivalents that would arise from the exercise of stock options and warrants outstanding under the treasury method and the average market price per share during the year as well as the conversion of notes. At June 30, 2018, 61,050,122 24,813,373 94,413,680, June 30, 2017, 21,897,479 3,744,623 40,677,826 | NOTE 11 The computation of basic earnings (loss) per share of common stock is based on the weighted average number of shares outstanding during the year. The computation of diluted earnings per common share is based on the weighted average number of shares outstanding during the year plus the common stock equivalents that would arise from the exercise of stock options and warrants outstanding under the treasury method and the average market price per share during the year as well as the conversion of notes. At December 31, 2017, 57,057,768 18,813,373 94,546,696, December 31, 2016, 21,277,479 3,744,623 40,060,395 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 12 The Company calculates its deferred tax assets and liabilities using the federal tax rate of 35% 0.02% 2.54% 0.12% 0.06% 0.05% The tax effect of items that give rise to the deferred tax assets and liabilities are as follows: December 31, 2017 December 31, 2016 Deferred tax assets: Net operating loss carry forward $ 23,615,640 $ 31,980,117 Stock-based compensation 3,102,138 4,496,398 Fixed assets 320,571 -0- Accrued bonus 54,155 -0- Total deferred tax assets 27,092,705 36,476,515 Deferred tax liabilities: Fixed assets -0- (17,231 ) Less: valuation allowance (27,092,705 ) (36,459,254 ) Total deferred tax liabilities $ -0- $ -0- In assessing the realization of deferred tax assets, management determines whether it is more likely than not not not not $9,366,549 $4,091,895, December 31, 2017 2016. At December 31, 2017, $98,296,940 $69,583,855 2037 2024 2037, No December 31, 2017 2016. The Internal Revenue Code of 1986, not 382 may may may may not The Tax Cuts and Jobs Act (“Tax Act”) was enacted on December 22, 2017. 35% 21% 2018. 21% $15,181,980 December 31, 2017. A reconciliation of the differences between the effective and statutory income tax rates is as follows: December 31, 2017 December 31, 2016 Federal statutory rate $ (5,218,730 ) 35.00 % $ (2,673,920 ) 35.00 % State income taxes – Idaho (2,514 ) 0.02 % (2,455 ) 0.03 % State income taxes - Utah (378,650 ) 2.54 % (191,070 ) 2.50 % State and local income taxes - NY (17,300 ) 0.12 % (28,559 ) 0.37 % State income taxes - Florida (8,754 ) 0.06 % -0- 0.00 % State income taxes – Montana (7,019 ) 0.05 % -0- 0.00 % Change in valuation allowance (9,366,549 ) 62.82 % 4,091,895 (53.56 %) Net nontaxable income related to derivatives (70,786 ) 0.47 % (1,214,608 ) 15.90 % Deferred remeasurement 15,181,980 (101.83 %) -0- 0.00 % Miscellaneous (111,678 ) 0.75 % 18,717 (0.24 %) $ -0- 0.00 % $ -0- 0.00 % |
Note 13 - Related Parties
Note 13 - Related Parties | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 13 David A. Taft is the president of IBS Capital LLC (“IBS”), a Massachusetts limited liability company, whose principal business is investing in securities. IBS is the general partner of the IBS Turnaround Fund (QP), which is a Massachusetts limited partnership, IBS Turnaround Fund (LP), which is a Massachusetts limited partnership and the IBS Opportunity Fund, Ltd. Mr. Taft participated in the Series A Note financing described in Note 8, Investor Investment OID/Discount Principal Shares Issuable at 0.40 (excluding interest) IBS Turnaround Fund (A Limited Partnership) $ 531,960 0.66 $ 806,000 2,015,000 IBS Turnaround Fund QP (A Limited Partnership) $ 1,118,040 0.66 $ 1,694,000 4,235,000 IBS Opportunity Fund, Ltd. 350,000 0.66 530,303 1,325,758 $ 2,000,000 $ 3,030,303 7,575,758 |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Commitments and Contingencies Disclosure [Text Block] | NOTE 11– Office Lease On January 1, 2017, $6,000 March 31, 2017 April 1, 2017, 5 June 30, 2018, March 31, 2022, $442,997. June 30, 2018, $53,766 December 31, 2018, $163,998 December 31, 2019, $277,518 December 31, 2020, $394,452 December 31, 2021 $423,828 March 31, 2022. | NOTE 14 Office Lease On January 1, 2017, $6,000 March 31, 2017 April 1, 2017, 5 5 1 $8,700; 2 $8,961; 3 $9,230; 4 $9,507; 5 $9,792. |
Note 15 - Financial Information
Note 15 - Financial Information by Quarter (Unaudited) | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Quarterly Financial Information [Text Block] | NOTE 15 2017 For Quarter Ended December 31 September 30 June 30 March 31 Revenue $ 143,679 $ 148,303 $ 1,357,413 $ 795,282 Operating loss $ (1,982,366 ) $ (1,305,156 ) $ (397,739 ) $ (1,552,522 ) Net income (loss) $ (5,899,706 ) $ (4,407,067 ) $ (1,875,446 ) $ (2,728,440 ) Income (Loss) Per Share (Basic and Diluted) $ (0.04 ) $ (0.04 ) $ (0.02 ) $ (0.03 ) 2016 For Quarter Ended December 31 September 30 June 30 March 31 Revenue $ 923,711 $ 975,328 $ 1,112,467 $ 1,001,628 Operating loss $ (1,017,490 ) $ (1,153,204 ) $ (1,097,913 ) $ (1,291,713 ) Net income (loss) $ (2,106,846 ) $ (1,810,425 ) $ (3,185,359 ) $ (537,142 ) Income (Loss) Per Share (Basic and Diluted) $ (0.02 ) $ (0.02 ) $ (0.03 ) $ (0.01 ) |
Note 16 - Significant Contracts
Note 16 - Significant Contracts | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Contracts [Text Block] | NOTE 16 (A) On November 1, 2017, BASF Corporation will market halloysite clay-based products under a BASF trade name to customers worldwide, with profits to be shared by both companies. BASF Corporation and the Company also entered a Tolling Agreement under which BASF Corporation will provide specialized toll manufacturing to complement the Company’s current halloysite production capabilities. (B) On December 22, 2017 The Company granted to CMC the exclusive right and option to enter upon and conduct mineral exploration activities (the “Exploration License”) for Metallic Minerals on the Company’s Dragon Mine mine site in Utah (the “Mining Claims”). Metallic Minerals are defined to include minerals with a high specific gravity and metallic luster, such as gold, silver, lead, copper, zinc, molybdenum, titanium, tungsten, uranium, tin, iron, etc., but shall exclude any such Metallic Minerals that are intermingled within any economically-recoverable, non-metallic mineral deposits located at or above an elevation of 5,590 5,590 ten CMC was provided 40 may In consideration of the Exploration License CMC shall make the following payments to the Company: $350,000 $150,000 first $250,000 first CMC may 100% The consideration to be paid by CMC to the Company after exercising the option for the acquisition of the Metallic Rights shall be payable as follows: $3,000,000; five 5% $20,000,000 On January 18, 2018, first $350,000 |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes to Financial Statements | ||
Subsequent Events [Text Block] | NOTE 12 During July 2018, 1,875,000 $0.08 two 1,875,000 $0.15 | NOTE 17 In January 2, 2018, 1,500,000 In February 9, 2018, 2,500,000 one $100,000. On February 23, 2018, 1,125,000 one $45,000 On March 2, 2018, 3,000,000 three $150,000. On March 14, 2018, 500,000 500,000 $20,000. In April 3, 2018, 1,000,000 one $100,000. |
Note 18 - Allowances
Note 18 - Allowances | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | NOTE 18 Balance at Beginning of Year Additions Charged to Expenses/Other Accounts Net (Deductions) Recoveries Balance at End of Year Valuation allowance for deferred tax assets 2017 $ 36,459,254 $ -- $ (9,366,549 ) $ 27,092,705 2016 $ 32,367,359 $ 4,091,895 $ -- $ 36,459,254 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Accounting Policies [Abstract] | ||
Exploration Stage Company [Policy Text Block] | Exploration-Stage Company Effective January 1, 2009, not no 7, | Exploration-Stage Company Effective January 1, 2009, not no 7, |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the accounts of Applied Minerals, Inc. and its inactive subsidiary, which holds 100 | Principles of Consolidation The accompanying consolidated financial statements include the accounts of Applied Minerals, Inc. and its inactive subsidiary, which holds 100 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. In these consolidated financial statements, the warrant and PIK note derivative liabilities, stock compensation, impairment of long-lived assets and valuation allowance on income taxes involve extensive reliance on management’s estimates. Actual results could differ from those estimates. | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenues and expenses during the reporting period. In these consolidated financial statements, the warrant and PIK note derivative liabilities, stock compensation, impairment of long-lived assets and valuation allowance on income taxes involve extensive reliance on management’s estimates. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with a maturity of three | Cash and Cash Equivalents Cash and cash equivalents include all highly liquid investments with a maturity of three |
Receivables, Policy [Policy Text Block] | Receivables Trade receivables are reported at outstanding principal amounts, net of an allowance for doubtful accounts. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party’s credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectable. No June 30, 2018 December 31, 2017. | Receivables Trade receivables are reported at outstanding principal amounts, net of an allowance for doubtful accounts. Management evaluates the collectability of receivable account balances to determine the allowance, if any. Management considers the other party’s credit risk and financial condition, as well as current and projected economic and market conditions, in determining the amount of the allowance. Receivable balances are written off when management determines that the balance is uncollectable. No December 31, 2017 2016. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are carried at cost net of accumulated depreciation and amortization. Depreciation and amortization is computed on the straight-line method over the estimated useful lives of the assets, or the life of the lease, whichever is shorter, as follows: Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 Depreciation expense for the three June 30, 2018 2017 $321,818, $328,980, six June 30, 2018 2017 $644,962 $659,765, | Property and Equipment Property and equipment are carried at cost net of accumulated depreciation and amortization. Depreciation and amortization is computed on the straight-line method over the estimated useful lives of the assets, or the life of the lease, whichever is shorter, as follows: Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 Depreciation expense for the years ended December 31, 2017 2016 $1,316,537, $1,348,860, |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-lived Assets The Company periodically reviews the carrying amounts of long-lived assets to determine whether current events or circumstances warrant adjustment to such carrying amounts. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not not no June 30,2018 2017. | Impairment of Long-lived Assets The Company periodically reviews the carrying amounts of long-lived assets to determine whether current events or circumstances warrant adjustment to such carrying amounts. Long-lived assets are tested for recoverability whenever events or changes in circumstances indicate that its carrying amount may not not no December 31, 2017 2017. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Revenue includes sales of halloysite clay and iron oxide during 2017 In May 2014, not not December 31, 2017. January 1, 2018. 2018, | Revenue Recognition Revenue includes sales of halloysite clay and iron oxide, and is recognized when title passes to the buyer and when collectability is reasonably assured. Title passes to the buyer based on terms of the sales contract. Product pricing is determined based on contractual arrangements with the Company’s customers. |
Exploitation Costs, Policy [Policy Text Block] | Mining Exploration and Development Costs Land and mining property are carried at cost. The Company expenses prospecting and mining exploration costs. At the point when a property is determined to have proven and probable reserves, subsequent development costs will be capitalized and will be charged to operations using the units-of-production method over proven and probable reserves. Upon abandonment or sale of a mineral property, all capitalized costs relating to the specific property are written off in the period abandoned or sold and a gain or loss is recognized. | Mining Exploration and Development Costs Land and mining property are carried at cost. The Company expenses prospecting and mining exploration costs. At the point when a property is determined to have proven and probable reserves, subsequent development costs will be capitalized and will be charged to operations using the units-of-production method over proven and probable reserves. Upon abandonment or sale of a mineral property, all capitalized costs relating to the specific property are written off in the period abandoned or sold and a gain or loss is recognized. |
Income Tax, Policy [Policy Text Block] | Income taxes The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carry forwards, using enacted tax rates in effect in the years in which the differences are expected to reverse. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not not Authoritative guidance provides that the tax effects from an uncertain tax position taken or expected to be taken in a tax return can be recognized in our financial statements only if the position is more likely than not December 31, 2no | Income taxes The Company uses an asset and liability approach which results in the recognition of deferred tax liabilities and assets for the expected future tax consequences or benefits of temporary differences between the financial reporting basis and the tax basis of assets and liabilities, as well as operating loss and tax credit carry forwards, using enacted tax rates in effect in the years in which the differences are expected to reverse. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not not not not Authoritative guidance provides that the tax effects from an uncertain tax position taken or expected to be taken in a tax return can be recognized in our financial statements only if the position is more likely than not December 31, 2017 no |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock Options and Warrants The Company follows ASC 718 505 50 November 20, 2012, not 1 2 June 30, 2013 not | Stock Options and Warrants The Company follows ASC 718 505 50 November 20, 2012, not 1 2 June 30, 2013 not |
Environmental Costs, Policy [Policy Text Block] | Environmental Matters Expenditures for ongoing compliance with environmental regulations that relate to current operations are expensed or capitalized as appropriate. Expenditures resulting from the remediation of existing conditions caused by past operations that do not Estimates of such liabilities are based upon currently available facts, existing technology and presently enacted laws and regulations taking into consideration the likely effects of inflation and other societal and economic factors, and include estimates of associated legal costs. These amounts also reflect prior experience in remediating contaminated sites, other companies’ clean-up experience and data released by The Environmental Protection Agency or other organizations. Such estimates are by their nature imprecise and can be expected to be revised over time because of changes in government regulations, operations, technology and inflation. Recoveries are evaluated separately from the liability and, when recovery is assured, the Company records and reports an asset separately from the associated liability. Based upon management’s current assessment of its environmental responsibilities, it does not June 30, 2018. | Environmental Matters Expenditures for ongoing compliance with environmental regulations that relate to current operations are expensed or capitalized as appropriate. Expenditures resulting from the remediation of existing conditions caused by past operations that do not Estimates of such liabilities are based upon currently available facts, existing technology and presently enacted laws and regulations taking into consideration the likely effects of inflation and other societal and economic factors, and include estimates of associated legal costs. These amounts also reflect prior experience in remediating contaminated sites, other companies’ clean-up experience and data released by The Environmental Protection Agency or other organizations. Such estimates are by their nature imprecise and can be expected to be revised over time because of changes in government regulations, operations, technology and inflation. Recoveries are evaluated separately from the liability and, when recovery is assured, the Company records and reports an asset separately from the associated liability. Based upon management’s current assessment of its environmental responsibilities, it does not December 31, 2017. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Issued Accounting Pronouncements In May 2014, not not December 31, 2017. January 1, 2018. In February 2016, 2016 02 842” one not January 1, 2019. | Recent Issued Accounting Pronouncements In May 2014, not not December 31, 2017. January 1, 2018 In February 2016, 2016 02 842” one not December 15, 2018, |
Note 3 - Basis of Reporting a43
Note 3 - Basis of Reporting and Significant Accounting Policies (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Property, Plant and Equipment [Table Text Block] | Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 | Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 |
Note 4 - Property and Equipme44
Note 4 - Property and Equipment (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Property, Plant, And Equipment, Carrying Value [Table Text Block] | June 30, December 31, 2018 2017 Land $ 500,000 $ 500,000 Land improvements 171,122 171,122 Buildings 3,129,519 3,129,519 Mining equipment 1,784,115 1,784,115 Milling equipment 2,841,726 2,841,726 Laboratory equipment 607,716 607,716 Office equipment 70,529 70,529 Vehicles 150,810 150,810 9,255,537 9,255,537 Less: Accumulated depreciation (7,098,108 ) (6,453,146 ) Total $ 2,157,429 $ 2,802,391 | December 31, 2017 2016 Land $ 500,000 $ 500,000 Land improvements 171,122 171,122 Buildings 3,129,519 3,129,519 Mining equipment 1,784,115 1,775,884 Milling equipment 2,841,726 2,806,834 Laboratory equipment 607,716 607,716 Office equipment 70,529 69,900 Vehicles 150,810 150,810 9,255,537 9,211,785 Less: Accumulated depreciation (6,453,146 ) (5,136,609 ) Total $ 2,802,391 $ 4,075,176 |
Note 5 - Fair Value Measureme45
Note 5 - Fair Value Measurements and Financial Instruments (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Fair value measurement using inputs Level 1 Level 2 Level 3 Financial instruments: Series 2023 Note Derivative $ -0- $ -0- $ 748,417 Series A Note Derivative $ -0- $ -0- $ 8,000,101 | Fair value measurement using inputs Carrying amount Level 1 Level 2 Level 3 December 31, 2017 December 31, 2016 Financial instruments: Series 2023 Note Derivative $ -0- $ -0- $ 163,634 $ 163,634 $ 142,909 Series A Note Derivative $ -0- $ -0- $ 1,883,630 $ 1,883,630 $ 2,033,643 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Balance at December 31, 2017 $ 2,047,264 Balance at December 31, 2016 $ 2,176,552 Issuance of additional Series 2023 Notes - 0 - Issuance of additional Series 2023 Notes 25,038 Issuance of additional Series A Notes 122,750 Issuance of additional Series A Notes - 0 - Net unrealized gain (loss) included in operations 6,578,504 Net unrealized gain (loss) included in operations (1,636,841 ) Balance at June 30, 2018 $ 8,748,518 Balance at June 30, 2017 $ 564,749 | 2017 2016 Balance at beginning of year $ 2,176,552 $ 5,138,857 Issuance of additional Series 2023 Notes 13,155 18,807 Issuance of additional Series A Notes 85,834 247,931 Net unrealized gain included in operations (228,277 ) (3,229,043 ) Balance at end of year $ 2,047,264 $ 2,176,552 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Series 2023 Note derivative liability Fair Value Measurements Using Inputs June 30, December 31, 2018 2017 Market price and estimated fair value of stock $ 0.17 $ 0.05 Exercise price (1) $ 0.59 $ 0.59 Term (years) 5.08 5.58 Dividend yield -0- -0- Expected volatility 130.4 % 115.3 % Risk-free interest rate 2.73 % 2.24 % Series A Note derivative liability Fair Value Measurements Using Inputs June 30, December 31, 2018 2017 Market price and estimated fair value of stock $ 0.17 $ 0.05 Exercise price (1) $ 0.40 $ 0.40 Term (years) 5.09 5.58 Dividend yield -0- -0- Expected volatility 130.4 % 115.3 % Risk-free interest rate 2.73 % 2.24 % | Series 2023 Note derivative liability Fair Value Measurements Using Inputs December 31, 2017 December 31, 2016 Market price and estimated fair value of stock $ 0.05 $ 0.12 Exercise price (1) $ 0.59 $ 1.28 Term (years) 5.58 6.58 Dividend yield -0- -0- Expected volatility 115.3 % 86.2 % Risk-free interest rate 2.24 % 2.18 % Series A Note derivative liability Fair Value Measurements Using Inputs December 31, 2017 December 31, 2016 Market price and estimated fair value of stock $ 0.05 $ 0.12 Exercise price (1) $ 0.40 $ 0.83 Term (years) 5.58 6.58 Dividend yield -0- -0- Expected volatility 115.3 % 86.2 % Risk-free interest rate 2.24 % 2.18 % |
Note 6 - Notes and Leases Pay46
Note 6 - Notes and Leases Payable (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Schedule of Debt [Table Text Block] | June 30, December 31, 2018 2017 Note payable for equipment, payable $1,339 monthly, including interest (a) $ 6,605 $ 13,073 Note payable to insurance companies, payable $5,045 - $17,959 monthly, (b) and (c) 59,810 199,061 66.415 212,134 Less: Current Portion (66,415 ) (212,134 ) Notes Payable, Long-Term Portion $ - 0 - $ - 0 - | December 31, 2017 2016 Note payable for equipment, payable $1,339 monthly, including interest (a) $ 13,073 $ 28,033 Note payable for mine site vehicle, payable $628 monthly (b) - 0 - 5,655 Note payable to insurance companies, payable $5,045 - $17,959 monthly, (c) and (d) 199,061 213,534 212,134 247,222 Less: Current Portion (212,134 ) (234,149 ) Notes Payable, Long-Term Portion $ - 0 - $ 13,073 |
Note 7 - Convertible Debt (PI47
Note 7 - Convertible Debt (PIK Notes) (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Debt Instrument Redemption [Table Text Block] | Key Terms Series 2023 Notes Series A Notes Inception Date 08/01/2013 11/03/2014 Cash Received $10,500,000 $12,500,000 Principal (Initial Liability) $10,500,000 $19,848,486 Maturity (Term) Matures on August 1, 2023, but convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Matures on May 1, 2023 but extends to August 1, 2023 if the Series 2023 Notes are still outstanding. Convertible into shares of the Company’s common stock at the discretion of the holder or by the Company based on the market price of the Company’s stock; Exercise Price $0.59, adjusted downward based on anti-dilution provisions/downround protection $0.40, adjusted downward based on anti-dilution provisions/down-round protection; Stated Interest 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; 10% per annum through December 14, 2017, 3% per annum thereafter, due semiannually; Derivative Liability $2,055,000 established at inception due to the existence of down-round protection; revalued every quarter using Monte Carlo model $9,212,285 established at inception due to existence of down-round protection; revalued every quarter using a Monte Carlo model | |
Convertible Debt [Table Text Block] | Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,152,402 $ 27,214,693 $ 43,367,095 Less: Discount (1,453,542 ) (5,488,161 ) (6,941,703 ) Less: Deferred Financing Cost (201,756 ) (268,436 ) (470,192 ) PIK Note Payable, Net $ 14,497,104 $ 21,548,096 $ 35,955,200 PIK Note Derivative Liability $ 748,417 $ 8,000,101 $ 8,748,518 Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,090,721 $ 26,909,716 $ 43,000,437 Less: Discount (1,538,299 ) (7,701,839 ) (9,240,138 ) Less: Deferred Financing Cost (221,280 ) (294,414 ) (515,694 ) PIK Note Payable, Net $ 14,331,142 $ 18,913,463 $ 33,244,605 PIK Note Derivative Liability $ 163,634 $ 1,883,630 $ 2,047,264 | Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,090,721 $ 26,909,716 $ 43,000,437 Less: Discount (1,538,299 ) (7,701,839 ) (9,240,138 ) Less: Deferred Financing Cost (221,280 ) (294,414 ) (515,694 ) PIK Note Payable, Net $ 14,331,142 $ 18,913,463 $ 33,244,605 PIK Note Derivative Liability $ 163,634 $ 1,883,630 $ 2,047,264 Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 14,071,008 $ 24,125,958 $ 38,196,966 Less: Discount (1,721,898 ) (13,421,225 ) (15,143,123 ) Less: Deferred Financing Cost (5,064 ) (8,686 ) (13,750 ) PIK Note Payable, Net $ 12,344,046 $ 10,696,047 $ 23,040,093 PIK Note Derivative Liability $ 142,909 $ 2,033,643 $ 2,176,552 |
Note 9 - Options and Warrants48
Note 9 - Options and Warrants to Purchase Common Stock (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Schedule of Warrants or Rights [Table Text Block] | Shares Issuable upon exercise of upon Exercise of Weighted Average Outstanding Warrants Exercise Price Outstanding at January 1, 2018 18,813,373 $ 0.14 Issued 8,000,000 $ 0.15 Exercised (2,000,000 ) $ 0.04 Forfeited -- -- Outstanding at June 30, 2018 24,813,373 $ 0.15 | December 31, 2017 December 31, 2016 Shares issuable upon exercise of Weighted Average Shares issuable upon exercise of Weighted Average Outstanding Warrants Exercise Price Outstanding Warrants Exercise Price Outstanding at beginning of year 3,744,623 $ 0.36 461,340 $ 1.15 Issued 18,193,750 0.07 3,283,283 0.25 Exercised (3,125,000 ) 0.04 -- -- Forfeited -- -- -- Outstanding at end of year 18,813,373 0.14 3,744,623 0.36 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrants Outstanding and Exercisable Shares Issuable Weighted Average upon Exercise of Remaining Weighted Average Exercise Price Outstanding Warrants Contractual Life (years) Exercise Price $ 1.15 461,340 2.8 $ 1.15 $ 0.25 3,283,283 3.0 $ 0.25 $ 0.04 2,068,750 4.3 $ 0.04 $ 0.10 11,000,000 4.5 $ 0.10 $ 0.15 8,000,000 3.0 $ 0.15 24,813,373 5.2 $ 0.15 | Warrants Outstanding and Exercisable Exercise Price Shares issuable upon exercise of Outstanding Warrants Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price $ 1.15 461,340 3.3 $ 1.15 $ 0.25 3,283,283 3.5 $ 0.25 $ 0.04 4,068,750 4.7 $ 0.04 $ 0.10 11,000,000 5.0 $ 0.10 18,813,373 4.6 $ 0.14 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Dividend Yield 0% Expected Life (in years) 2.48 – 2.96 Expected Volatility 163.73% – 177.59% Risk Free Interest Rate 2.54% – 2.62% | 2017 2016 Dividend Yield 0% 0% Expected Life (in years) 2.50 – 6.27 2.00 – 9.02 Expected Volatility 114.98 – 167.28% 65.49 – 65.49% Risk Free Interest Rate 1.38 – 2.26% 0.76 – 1.78% |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Issuable Weighted Upon Exercise of Average Options Exercise Price Outstanding at December 31, 2017 57,057,768 $ 0.36 Granted 4,224,999 $ 0.11 Exercised -- -- Forfeited (232,645 ) 1.36 Outstanding at June 30, 2018 61,050,122 $ 0.34 | December 31, 2017 December 31, 2016 Weighted Weighted Average Average Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 21,277,479 $ 0.87 17,806,472 $ 1.00 Granted 35,810,289 $ 0.06 3,771,488 0.24 Exercised -- -- -- -- Forfeited (30,000 ) (300,481 ) 0.83 Outstanding at end of year 57,057,768 $ 0.36 21,277,479 $ 0.87 |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Number Outstanding Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price 35,322,222 9.34 $ 0.06 26,697,225 $ 0.06 545,289 9.48 $ 0.075 408,968 $ 0.075 377,777 4.93 $ 0.11 69,444 $ 0.11 3,000,000 4.61 $ 0.12 1,000,000 $ 0.12 500,000 3.13 $ 0.16 500,000 $ 0.16 81,395 5.64 $ 0.21 81,395 $ 0.21 100,000 2.22 $ 0.22 100,000 $ 0.22 1,066,155 2.87 $ 0.24 1,066,155 $ 0.24 2,087,500 4.29 $ 0.25 2,087,500 $ 0.25 35,595 4.79 $ 0.27 35,595 $ 0.27 474,815 5.86 $ 0.28 474,815 $ 0.28 234,506 4.64 $ 0.285 234,506 $ 0.285 81,522 2.56 $ 0.30 81,522 $ 0.30 200,000 6.63 $ 0.66 200,000 $ 0.66 150,000 6.61 $ 0.68 150,000 $ 0.68 7,233,277 0.50 $ 0.70 7,233,277 $ 0.70 488,356 6.89 $ 0.73 488,356 $ 0.73 3,104,653 3.65 $ 0.83 3,104,653 $ 0.83 975,000 5.95 $ 0.84 975,000 $ 0.84 300,000 5.14 $ 1.10 300,000 $ 1.10 300,000 4.99 $ 1.15 300,000 $ 1.15 115,000 2.74 $ 1.35 115,000 $ 1.35 300,000 3.90 $ 1.55 300,000 $ 1.55 3,077,060 4.39 $ 1.66 3,077,060 $ 1.66 900,000 3.14 $ 1.90 900,000 $ 1.90 61,050,122 6.82 $ 0.34 49,980,471 $ 0.40 | Options Outstanding Options Exercisable Weighted Average Weighted Weighted Remaining Average Average Number Contractual Exercise Number Exercise Outstanding Life (years) Price Exercisable Price 34,475,000 9.95 $ 0.06 15,568,718 $ 0.06 545,289 9.98 $ 0.075 45,289 $ 0.075 500,000 3.62 $ 0.16 500,000 $ 0.16 81,395 6.14 $ 0.21 40,698 $ 0.21 100,000 2.71 $ 0.22 100,000 $ 0.22 1,066,155 3.36 $ 0.24 1,066,155 $ 0.24 2,087,500 4.79 $ 0.25 2,087,500 $ 0.25 35,595 5.29 $ 0.27 17,798 $ 0.27 474,815 6.36 $ 0.28 362,408 $ 0.28 234,506 5.13 $ 0.285 234,506 $ 0.285 81,522 3.05 $ 0.30 40,716 $ 0.30 200,000 7.12 $ 0.66 200,000 $ 0.66 150,000 7.10 $ 0.68 99,990 $ 0.68 7,233,277 0.99 $ 0.70 7,233,277 $ 0.70 488,356 7.38 $ 0.73 371,666 $ 0.73 3,104,653 4.15 $ 0.83 3,104,653 $ 0.83 975,000 6.45 $ 0.84 975,000 $ 0.84 300,000 5.64 $ 1.10 300,000 $ 1.10 300,000 5.48 $ 1.15 300,000 $ 1.15 100,000 0.08 $ 1.24 100,000 $ 1.24 115,000 3.24 $ 1.35 115,000 $ 1.35 125,000 0.08 $ 1.45 125,000 $ 1.45 300,000 4.40 $ 1.55 300,000 $ 1.55 7,645 0.09 $ 1.58 7,645 $ 1.58 3,077,060 4.89 $ 1.66 3,077,060 $ 1.66 900,000 3.63 $ 1.90 900,000 $ 1.90 57,057,768 7.45 $ 0.36 37,273,079 $ 0.52 |
Note 3 - Summary of Significa49
Note 3 - Summary of Significant Accounting Policies (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Property, Plant and Equipment [Table Text Block] | Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 | Estimated Useful Life (years) Building and Building Improvements 5 – 40 Mining equipment 2 – 7 Office and shop furniture and equipment 3 – 7 Vehicles 5 |
Note 4 - Property and Equipme50
Note 4 - Property and Equipment - 2 (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Property, Plant, And Equipment, Carrying Value [Table Text Block] | June 30, December 31, 2018 2017 Land $ 500,000 $ 500,000 Land improvements 171,122 171,122 Buildings 3,129,519 3,129,519 Mining equipment 1,784,115 1,784,115 Milling equipment 2,841,726 2,841,726 Laboratory equipment 607,716 607,716 Office equipment 70,529 70,529 Vehicles 150,810 150,810 9,255,537 9,255,537 Less: Accumulated depreciation (7,098,108 ) (6,453,146 ) Total $ 2,157,429 $ 2,802,391 | December 31, 2017 2016 Land $ 500,000 $ 500,000 Land improvements 171,122 171,122 Buildings 3,129,519 3,129,519 Mining equipment 1,784,115 1,775,884 Milling equipment 2,841,726 2,806,834 Laboratory equipment 607,716 607,716 Office equipment 70,529 69,900 Vehicles 150,810 150,810 9,255,537 9,211,785 Less: Accumulated depreciation (6,453,146 ) (5,136,609 ) Total $ 2,802,391 $ 4,075,176 |
Note 6 - Fair Value Measureme51
Note 6 - Fair Value Measurements and Financial Instruments (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Fair value measurement using inputs Level 1 Level 2 Level 3 Financial instruments: Series 2023 Note Derivative $ -0- $ -0- $ 748,417 Series A Note Derivative $ -0- $ -0- $ 8,000,101 | Fair value measurement using inputs Carrying amount Level 1 Level 2 Level 3 December 31, 2017 December 31, 2016 Financial instruments: Series 2023 Note Derivative $ -0- $ -0- $ 163,634 $ 163,634 $ 142,909 Series A Note Derivative $ -0- $ -0- $ 1,883,630 $ 1,883,630 $ 2,033,643 |
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Balance at December 31, 2017 $ 2,047,264 Balance at December 31, 2016 $ 2,176,552 Issuance of additional Series 2023 Notes - 0 - Issuance of additional Series 2023 Notes 25,038 Issuance of additional Series A Notes 122,750 Issuance of additional Series A Notes - 0 - Net unrealized gain (loss) included in operations 6,578,504 Net unrealized gain (loss) included in operations (1,636,841 ) Balance at June 30, 2018 $ 8,748,518 Balance at June 30, 2017 $ 564,749 | 2017 2016 Balance at beginning of year $ 2,176,552 $ 5,138,857 Issuance of additional Series 2023 Notes 13,155 18,807 Issuance of additional Series A Notes 85,834 247,931 Net unrealized gain included in operations (228,277 ) (3,229,043 ) Balance at end of year $ 2,047,264 $ 2,176,552 |
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions [Table Text Block] | Series 2023 Note derivative liability Fair Value Measurements Using Inputs June 30, December 31, 2018 2017 Market price and estimated fair value of stock $ 0.17 $ 0.05 Exercise price (1) $ 0.59 $ 0.59 Term (years) 5.08 5.58 Dividend yield -0- -0- Expected volatility 130.4 % 115.3 % Risk-free interest rate 2.73 % 2.24 % Series A Note derivative liability Fair Value Measurements Using Inputs June 30, December 31, 2018 2017 Market price and estimated fair value of stock $ 0.17 $ 0.05 Exercise price (1) $ 0.40 $ 0.40 Term (years) 5.09 5.58 Dividend yield -0- -0- Expected volatility 130.4 % 115.3 % Risk-free interest rate 2.73 % 2.24 % | Series 2023 Note derivative liability Fair Value Measurements Using Inputs December 31, 2017 December 31, 2016 Market price and estimated fair value of stock $ 0.05 $ 0.12 Exercise price (1) $ 0.59 $ 1.28 Term (years) 5.58 6.58 Dividend yield -0- -0- Expected volatility 115.3 % 86.2 % Risk-free interest rate 2.24 % 2.18 % Series A Note derivative liability Fair Value Measurements Using Inputs December 31, 2017 December 31, 2016 Market price and estimated fair value of stock $ 0.05 $ 0.12 Exercise price (1) $ 0.40 $ 0.83 Term (years) 5.58 6.58 Dividend yield -0- -0- Expected volatility 115.3 % 86.2 % Risk-free interest rate 2.24 % 2.18 % |
Note 7 - Notes and Leases Pay52
Note 7 - Notes and Leases Payable (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Schedule of Debt [Table Text Block] | June 30, December 31, 2018 2017 Note payable for equipment, payable $1,339 monthly, including interest (a) $ 6,605 $ 13,073 Note payable to insurance companies, payable $5,045 - $17,959 monthly, (b) and (c) 59,810 199,061 66.415 212,134 Less: Current Portion (66,415 ) (212,134 ) Notes Payable, Long-Term Portion $ - 0 - $ - 0 - | December 31, 2017 2016 Note payable for equipment, payable $1,339 monthly, including interest (a) $ 13,073 $ 28,033 Note payable for mine site vehicle, payable $628 monthly (b) - 0 - 5,655 Note payable to insurance companies, payable $5,045 - $17,959 monthly, (c) and (d) 199,061 213,534 212,134 247,222 Less: Current Portion (212,134 ) (234,149 ) Notes Payable, Long-Term Portion $ - 0 - $ 13,073 |
Note 8 - Convertible Debt (PI53
Note 8 - Convertible Debt (PIK Notes) (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Convertible Debt [Table Text Block] | Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,152,402 $ 27,214,693 $ 43,367,095 Less: Discount (1,453,542 ) (5,488,161 ) (6,941,703 ) Less: Deferred Financing Cost (201,756 ) (268,436 ) (470,192 ) PIK Note Payable, Net $ 14,497,104 $ 21,548,096 $ 35,955,200 PIK Note Derivative Liability $ 748,417 $ 8,000,101 $ 8,748,518 Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,090,721 $ 26,909,716 $ 43,000,437 Less: Discount (1,538,299 ) (7,701,839 ) (9,240,138 ) Less: Deferred Financing Cost (221,280 ) (294,414 ) (515,694 ) PIK Note Payable, Net $ 14,331,142 $ 18,913,463 $ 33,244,605 PIK Note Derivative Liability $ 163,634 $ 1,883,630 $ 2,047,264 | Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 16,090,721 $ 26,909,716 $ 43,000,437 Less: Discount (1,538,299 ) (7,701,839 ) (9,240,138 ) Less: Deferred Financing Cost (221,280 ) (294,414 ) (515,694 ) PIK Note Payable, Net $ 14,331,142 $ 18,913,463 $ 33,244,605 PIK Note Derivative Liability $ 163,634 $ 1,883,630 $ 2,047,264 Series 2023 Notes Series A Notes Total PIK Note Payable, Gross $ 14,071,008 $ 24,125,958 $ 38,196,966 Less: Discount (1,721,898 ) (13,421,225 ) (15,143,123 ) Less: Deferred Financing Cost (5,064 ) (8,686 ) (13,750 ) PIK Note Payable, Net $ 12,344,046 $ 10,696,047 $ 23,040,093 PIK Note Derivative Liability $ 142,909 $ 2,033,643 $ 2,176,552 |
Note 10 - Options and Warrant54
Note 10 - Options and Warrants to Purchase Common Stock (Tables) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Notes Tables | ||
Schedule of Warrants or Rights [Table Text Block] | Shares Issuable upon exercise of upon Exercise of Weighted Average Outstanding Warrants Exercise Price Outstanding at January 1, 2018 18,813,373 $ 0.14 Issued 8,000,000 $ 0.15 Exercised (2,000,000 ) $ 0.04 Forfeited -- -- Outstanding at June 30, 2018 24,813,373 $ 0.15 | December 31, 2017 December 31, 2016 Shares issuable upon exercise of Weighted Average Shares issuable upon exercise of Weighted Average Outstanding Warrants Exercise Price Outstanding Warrants Exercise Price Outstanding at beginning of year 3,744,623 $ 0.36 461,340 $ 1.15 Issued 18,193,750 0.07 3,283,283 0.25 Exercised (3,125,000 ) 0.04 -- -- Forfeited -- -- -- Outstanding at end of year 18,813,373 0.14 3,744,623 0.36 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrants Outstanding and Exercisable Shares Issuable Weighted Average upon Exercise of Remaining Weighted Average Exercise Price Outstanding Warrants Contractual Life (years) Exercise Price $ 1.15 461,340 2.8 $ 1.15 $ 0.25 3,283,283 3.0 $ 0.25 $ 0.04 2,068,750 4.3 $ 0.04 $ 0.10 11,000,000 4.5 $ 0.10 $ 0.15 8,000,000 3.0 $ 0.15 24,813,373 5.2 $ 0.15 | Warrants Outstanding and Exercisable Exercise Price Shares issuable upon exercise of Outstanding Warrants Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price $ 1.15 461,340 3.3 $ 1.15 $ 0.25 3,283,283 3.5 $ 0.25 $ 0.04 4,068,750 4.7 $ 0.04 $ 0.10 11,000,000 5.0 $ 0.10 18,813,373 4.6 $ 0.14 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Dividend Yield 0% Expected Life (in years) 2.48 – 2.96 Expected Volatility 163.73% – 177.59% Risk Free Interest Rate 2.54% – 2.62% | 2017 2016 Dividend Yield 0% 0% Expected Life (in years) 2.50 – 6.27 2.00 – 9.02 Expected Volatility 114.98 – 167.28% 65.49 – 65.49% Risk Free Interest Rate 1.38 – 2.26% 0.76 – 1.78% |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Issuable Weighted Upon Exercise of Average Options Exercise Price Outstanding at December 31, 2017 57,057,768 $ 0.36 Granted 4,224,999 $ 0.11 Exercised -- -- Forfeited (232,645 ) 1.36 Outstanding at June 30, 2018 61,050,122 $ 0.34 | December 31, 2017 December 31, 2016 Weighted Weighted Average Average Shares Exercise Price Shares Exercise Price Outstanding at beginning of year 21,277,479 $ 0.87 17,806,472 $ 1.00 Granted 35,810,289 $ 0.06 3,771,488 0.24 Exercised -- -- -- -- Forfeited (30,000 ) (300,481 ) 0.83 Outstanding at end of year 57,057,768 $ 0.36 21,277,479 $ 0.87 |
Summary Of Vesting Information For Stock Options [Table Text Block] | Vesting Information Shares Frequency Begin Date End Date 350,000 Immediately 05/23/2017 05/23/2017 300,000 Immediately 05/24/2017 05/24/2017 100,000 Immediately 10/01/2017 10/01/2017 140,000 Immediately 12/07/2017 12/07/2017 6,875,000 Quarterly 10/01/2017 07/01/2018 545,289 Quarterly 10/01/2017 07/01/2018 27,500,000 Performance* 12/14/2017 12/14/2027 | |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Options Outstanding Options Exercisable Number Outstanding Weighted Average Remaining Contractual Life (years) Weighted Average Exercise Price Number Exercisable Weighted Average Exercise Price 35,322,222 9.34 $ 0.06 26,697,225 $ 0.06 545,289 9.48 $ 0.075 408,968 $ 0.075 377,777 4.93 $ 0.11 69,444 $ 0.11 3,000,000 4.61 $ 0.12 1,000,000 $ 0.12 500,000 3.13 $ 0.16 500,000 $ 0.16 81,395 5.64 $ 0.21 81,395 $ 0.21 100,000 2.22 $ 0.22 100,000 $ 0.22 1,066,155 2.87 $ 0.24 1,066,155 $ 0.24 2,087,500 4.29 $ 0.25 2,087,500 $ 0.25 35,595 4.79 $ 0.27 35,595 $ 0.27 474,815 5.86 $ 0.28 474,815 $ 0.28 234,506 4.64 $ 0.285 234,506 $ 0.285 81,522 2.56 $ 0.30 81,522 $ 0.30 200,000 6.63 $ 0.66 200,000 $ 0.66 150,000 6.61 $ 0.68 150,000 $ 0.68 7,233,277 0.50 $ 0.70 7,233,277 $ 0.70 488,356 6.89 $ 0.73 488,356 $ 0.73 3,104,653 3.65 $ 0.83 3,104,653 $ 0.83 975,000 5.95 $ 0.84 975,000 $ 0.84 300,000 5.14 $ 1.10 300,000 $ 1.10 300,000 4.99 $ 1.15 300,000 $ 1.15 115,000 2.74 $ 1.35 115,000 $ 1.35 300,000 3.90 $ 1.55 300,000 $ 1.55 3,077,060 4.39 $ 1.66 3,077,060 $ 1.66 900,000 3.14 $ 1.90 900,000 $ 1.90 61,050,122 6.82 $ 0.34 49,980,471 $ 0.40 | Options Outstanding Options Exercisable Weighted Average Weighted Weighted Remaining Average Average Number Contractual Exercise Number Exercise Outstanding Life (years) Price Exercisable Price 34,475,000 9.95 $ 0.06 15,568,718 $ 0.06 545,289 9.98 $ 0.075 45,289 $ 0.075 500,000 3.62 $ 0.16 500,000 $ 0.16 81,395 6.14 $ 0.21 40,698 $ 0.21 100,000 2.71 $ 0.22 100,000 $ 0.22 1,066,155 3.36 $ 0.24 1,066,155 $ 0.24 2,087,500 4.79 $ 0.25 2,087,500 $ 0.25 35,595 5.29 $ 0.27 17,798 $ 0.27 474,815 6.36 $ 0.28 362,408 $ 0.28 234,506 5.13 $ 0.285 234,506 $ 0.285 81,522 3.05 $ 0.30 40,716 $ 0.30 200,000 7.12 $ 0.66 200,000 $ 0.66 150,000 7.10 $ 0.68 99,990 $ 0.68 7,233,277 0.99 $ 0.70 7,233,277 $ 0.70 488,356 7.38 $ 0.73 371,666 $ 0.73 3,104,653 4.15 $ 0.83 3,104,653 $ 0.83 975,000 6.45 $ 0.84 975,000 $ 0.84 300,000 5.64 $ 1.10 300,000 $ 1.10 300,000 5.48 $ 1.15 300,000 $ 1.15 100,000 0.08 $ 1.24 100,000 $ 1.24 115,000 3.24 $ 1.35 115,000 $ 1.35 125,000 0.08 $ 1.45 125,000 $ 1.45 300,000 4.40 $ 1.55 300,000 $ 1.55 7,645 0.09 $ 1.58 7,645 $ 1.58 3,077,060 4.89 $ 1.66 3,077,060 $ 1.66 900,000 3.63 $ 1.90 900,000 $ 1.90 57,057,768 7.45 $ 0.36 37,273,079 $ 0.52 |
Note 12 - Income Taxes (Tables)
Note 12 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2017 December 31, 2016 Deferred tax assets: Net operating loss carry forward $ 23,615,640 $ 31,980,117 Stock-based compensation 3,102,138 4,496,398 Fixed assets 320,571 -0- Accrued bonus 54,155 -0- Total deferred tax assets 27,092,705 36,476,515 Deferred tax liabilities: Fixed assets -0- (17,231 ) Less: valuation allowance (27,092,705 ) (36,459,254 ) Total deferred tax liabilities $ -0- $ -0- |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | December 31, 2017 December 31, 2016 Federal statutory rate $ (5,218,730 ) 35.00 % $ (2,673,920 ) 35.00 % State income taxes – Idaho (2,514 ) 0.02 % (2,455 ) 0.03 % State income taxes - Utah (378,650 ) 2.54 % (191,070 ) 2.50 % State and local income taxes - NY (17,300 ) 0.12 % (28,559 ) 0.37 % State income taxes - Florida (8,754 ) 0.06 % -0- 0.00 % State income taxes – Montana (7,019 ) 0.05 % -0- 0.00 % Change in valuation allowance (9,366,549 ) 62.82 % 4,091,895 (53.56 %) Net nontaxable income related to derivatives (70,786 ) 0.47 % (1,214,608 ) 15.90 % Deferred remeasurement 15,181,980 (101.83 %) -0- 0.00 % Miscellaneous (111,678 ) 0.75 % 18,717 (0.24 %) $ -0- 0.00 % $ -0- 0.00 % |
Note 13 - Related Parties (Tabl
Note 13 - Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Investor Investment OID/Discount Principal Shares Issuable at 0.40 (excluding interest) IBS Turnaround Fund (A Limited Partnership) $ 531,960 0.66 $ 806,000 2,015,000 IBS Turnaround Fund QP (A Limited Partnership) $ 1,118,040 0.66 $ 1,694,000 4,235,000 IBS Opportunity Fund, Ltd. 350,000 0.66 530,303 1,325,758 $ 2,000,000 $ 3,030,303 7,575,758 |
Note 15 - Financial Informati57
Note 15 - Financial Information by Quarter (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Quarterly Financial Information [Table Text Block] | 2017 For Quarter Ended December 31 September 30 June 30 March 31 Revenue $ 143,679 $ 148,303 $ 1,357,413 $ 795,282 Operating loss $ (1,982,366 ) $ (1,305,156 ) $ (397,739 ) $ (1,552,522 ) Net income (loss) $ (5,899,706 ) $ (4,407,067 ) $ (1,875,446 ) $ (2,728,440 ) Income (Loss) Per Share (Basic and Diluted) $ (0.04 ) $ (0.04 ) $ (0.02 ) $ (0.03 ) 2016 For Quarter Ended December 31 September 30 June 30 March 31 Revenue $ 923,711 $ 975,328 $ 1,112,467 $ 1,001,628 Operating loss $ (1,017,490 ) $ (1,153,204 ) $ (1,097,913 ) $ (1,291,713 ) Net income (loss) $ (2,106,846 ) $ (1,810,425 ) $ (3,185,359 ) $ (537,142 ) Income (Loss) Per Share (Basic and Diluted) $ (0.02 ) $ (0.02 ) $ (0.03 ) $ (0.01 ) |
Note 18 - Allowances (Tables)
Note 18 - Allowances (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Summary of Valuation Allowance [Table Text Block] | Balance at Beginning of Year Additions Charged to Expenses/Other Accounts Net (Deductions) Recoveries Balance at End of Year Valuation allowance for deferred tax assets 2017 $ 36,459,254 $ -- $ (9,366,549 ) $ 27,092,705 2016 $ 32,367,359 $ 4,091,895 $ -- $ 36,459,254 |
Note 1 - Organization and Des59
Note 1 - Organization and Description of Business (Details Textual) | Dec. 22, 2017USD ($) | Mar. 31, 2018 | Jun. 30, 2018T | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
CMC [Member] | ||||||
Exploration Agreement, Payments Upon Expiration of Due Diligence Period | $ 350,000 | |||||
Exploration Agreement, Payments on or Before First Anniversary of Effective Date of Agreement | 150,000 | |||||
Exploration Agreement, Payments on or Before Each Subsequent Anniversary of Effective Date During Exploration License Term | $ 250,000 | |||||
Exploration Agreement, Option to Purchase, Percentage of Metallic Rights | 100.00% | |||||
Exploration Agreement, Option to Purchase, Consideration | $ 3,000,000 | |||||
Exploration Agreement, Option to Purchase, Percentage of Net Profits Interest Royalty Granted | 5.00% | |||||
Exploration Agreement, Option to Purchase, NPI Royalty Cap | $ 20,000,000 | |||||
Exploration Agreement, NPI Royalty Interest Converted to Shares of Properties, Value | $ 2,000,000 | |||||
Exploration Agreement, NPI Royalty Interest Converted to Shares of Properties, Percentage, Maximum | 2.00% | |||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Number of Major Customers | 2 | |||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Two Largest Customers [Member] | ||||||
Concentration Risk, Percentage | 63.00% | |||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Largest Customer [Member] | ||||||
Concentration Risk, Percentage | 100.00% | 56.00% | 88.00% | 2016.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Number of Major Customers | 2 | |||||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Largest Customer [Member] | ||||||
Concentration Risk, Percentage | 0.00% | 0.00% | 90.00% | |||
AMIRON Products [Member] | ||||||
Mineral Processing Plant, Annual Capacity | T | 45,000 | |||||
Halloysite Resource [Member] | Maximum [Member] | ||||||
Mineral Processing Plant, Annual Capacity | T | 10,000 |
Note 2 - Liquidity and Basis 60
Note 2 - Liquidity and Basis of Presentation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Income (Loss) Attributable to Parent, Total | $ (319,039) | $ (5,899,706) | $ (4,407,067) | $ (1,875,446) | $ (2,728,440) | $ (2,106,846) | $ (1,810,425) | $ (3,185,359) | $ (537,142) | $ (12,395,021) | $ (4,603,886) | $ (14,910,659) | $ (7,639,772) |
Net Cash Provided by (Used in) Operating Activities, Total | (1,125,686) | $ (483,308) | (2,108,388) | (2,732,089) | |||||||||
Assets, Current, Total | 536,694 | 280,839 | 1,802,839 | 536,694 | 280,839 | 1,802,839 | |||||||
Liabilities, Current, Total | 1,202,880 | 1,233,077 | 1,817,875 | 1,202,880 | 1,233,077 | 1,817,875 | |||||||
Accrued Bonuses, Current | 63,537 | 204,700 | 63,537 | 204,700 | |||||||||
Notes Payable, Current, Total | 66,415 | 212,134 | $ 234,149 | 66,415 | 212,134 | $ 234,149 | |||||||
Accounts Payable to Compounder | 159,310 | 158,700 | 159,310 | 158,700 | |||||||||
Current Liabilities [Member] | |||||||||||||
Disputed Accrued Expenses | 156,200 | 156,200 | 156,200 | 156,200 | |||||||||
Financing of D&O and G/L Policies [Member] | |||||||||||||
Notes Payable, Current, Total | 59,810 | 59,810 | |||||||||||
Payment in Kind (PIK) Note [Member] | |||||||||||||
Interest Payable | $ 338,741 | $ 57,334 | $ 338,741 | $ 57,334 |
Note 3 - Basis of Reporting a61
Note 3 - Basis of Reporting and Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for Doubtful Accounts Receivable, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | ||
Depreciation, Total | $ 321,818 | $ 328,980 | 644,962 | $ 659,765 | 1,316,537 | 1,348,860 |
Asset Impairment Charges, Total | $ 0 | $ 0 | 0 | $ 0 | ||
Unrecognized Tax Benefits, Ending Balance | $ 0 |
Note 3 - Basis of Reporting a62
Note 3 - Basis of Reporting and Significant Accounting Policies - Property and Equipment (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Building and Building Improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | 5 years |
Building and Building Improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 40 years | 40 years |
Mining Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 2 years | 2 years |
Mining Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 7 years | 7 years |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 7 years | 7 years |
Vehicles [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | 5 years |
Note 4 - Property and Equipme63
Note 4 - Property and Equipment - Property, Plant, and Equipment, Net (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Oct. 31, 2014 |
Property, Plant and Equipment, Gross | $ 9,255,537 | $ 9,255,537 | $ 9,211,785 | |
Less: Accumulated depreciation | (7,098,108) | (6,453,146) | (5,136,609) | |
Total | 2,157,429 | 2,802,391 | 4,075,176 | |
Land [Member] | ||||
Property, Plant and Equipment, Gross | 500,000 | 500,000 | 500,000 | |
Land Improvements [Member] | ||||
Property, Plant and Equipment, Gross | 171,122 | 171,122 | 171,122 | |
Building [Member] | ||||
Property, Plant and Equipment, Gross | 3,129,519 | 3,129,519 | 3,129,519 | |
Mining Equipment [Member] | ||||
Property, Plant and Equipment, Gross | 1,784,115 | 1,784,115 | 1,775,884 | $ 65,120 |
Milling Equipment [Member] | ||||
Property, Plant and Equipment, Gross | 2,841,726 | 2,841,726 | 2,806,834 | |
Laboratory Equipment [Member] | ||||
Property, Plant and Equipment, Gross | 607,716 | 607,716 | 607,716 | |
Office Equipment [Member] | ||||
Property, Plant and Equipment, Gross | 70,529 | 70,529 | 69,900 | |
Vehicles [Member] | ||||
Property, Plant and Equipment, Gross | $ 150,810 | $ 150,810 | $ 150,810 |
Note 5 - Fair Value Measureme64
Note 5 - Fair Value Measurements and Financial Instruments (Details Textual) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Payment in Kind (PIK) Note [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Convertible Debt, Fair Value Disclosures | $ 12,842,158 | $ 11,395,208 | $ 23,361,553 |
Note 5 - Fair Value Measureme65
Note 5 - Fair Value Measurements and Financial Instruments - Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Series 2023 PIK Note Derivative Liability [Member] | |||
Derivative liability | $ 748,417 | $ 163,634 | $ 142,909 |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 0 | 0 | |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 0 | 0 | |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 748,417 | 163,634 | |
Series A PIK Note Derivative Liability [Member] | |||
Derivative liability | 8,000,101 | 1,883,630 | $ 2,033,643 |
Series A PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 0 | 0 | |
Series A PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 0 | 0 | |
Series A PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | $ 8,000,101 | $ 1,883,630 |
Note 5 - Fair Value Measureme66
Note 5 - Fair Value Measurements and Financial Instruments - Derivatives Measured at Fair Value (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, beginning | $ 2,047,264 | $ 2,176,552 | $ 2,176,552 | $ 5,138,857 |
Net unrealized gain (loss) included in operations | 6,578,504 | (1,636,841) | (228,277) | (3,229,043) |
Balance, ending | 8,748,518 | 564,749 | 2,047,264 | 2,176,552 |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Issuance of additional Series 2023 Notes | 0 | 25,038 | 13,155 | 18,807 |
Series A PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Issuance of additional Series 2023 Notes | $ 122,750 | $ 0 | $ 85,834 | $ 247,931 |
Note 5 - Fair Value Measureme67
Note 5 - Fair Value Measurements and Financial Instruments - Valuation Assumptions (Details) - Fair Value, Inputs, Level 3 [Member] | Jun. 30, 2018$ / shares | Dec. 31, 2017$ / shares | Dec. 31, 2016$ / shares | |
Series 2023 PIK Note Derivative Liability [Member] | ||||
Market price and estimated fair value of stock (in dollars per share) | $ 0.17 | $ 0.05 | $ 0.12 | |
Series 2023 PIK Note Derivative Liability [Member] | Measurement Input, Exercise Price [Member] | ||||
Measurment input | [1] | 0.59 | 0.59 | |
Series 2023 PIK Note Derivative Liability [Member] | Measurement Input, Expected Term [Member] | ||||
Measurment input | 5.08 | 5.58 | ||
Series 2023 PIK Note Derivative Liability [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||
Measurment input | 0 | 0 | ||
Series 2023 PIK Note Derivative Liability [Member] | Measurement Input, Price Volatility [Member] | ||||
Measurment input | 1.304 | 1.153 | ||
Series 2023 PIK Note Derivative Liability [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Measurment input | 0.0273 | 0.0224 | ||
Series A PIK Note Derivative Liability [Member] | ||||
Market price and estimated fair value of stock (in dollars per share) | $ 0.17 | $ 0.05 | $ 0.12 | |
Series A PIK Note Derivative Liability [Member] | Measurement Input, Exercise Price [Member] | ||||
Measurment input | [2] | 0.4 | 0.4 | |
Series A PIK Note Derivative Liability [Member] | Measurement Input, Expected Term [Member] | ||||
Measurment input | 5.09 | 5.58 | ||
Series A PIK Note Derivative Liability [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||
Measurment input | 0 | 0 | ||
Series A PIK Note Derivative Liability [Member] | Measurement Input, Price Volatility [Member] | ||||
Measurment input | 1.304 | 1.153 | ||
Series A PIK Note Derivative Liability [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Measurment input | 0.0273 | 0.0224 | ||
[1] | Exercise price is reflective of amended Series A Notes issued in December 2017 as discussed in Note 8. | |||
[2] | Exercise price is reflective of amended Series A Notes issued in December 2017 as discussed in Note 7. |
Note 6 - Notes and Leases Pay68
Note 6 - Notes and Leases Payable (Details Textual) - USD ($) | Oct. 31, 2014 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Oct. 17, 2017 | Oct. 17, 2016 |
Property, Plant and Equipment, Gross, Ending Balance | $ 9,255,537 | $ 9,255,537 | $ 9,255,537 | $ 9,211,785 | |||||
Debt Instrument, Periodic Payment, Interest | 705 | $ 1,216 | 6,206 | $ 2,743 | 6,365 | 4,956 | |||
Note Payable, Mining Equipment, Purchased in October 2014 [Member] | |||||||||
Debt Instrument, Face Amount | $ 57,900 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.20% | ||||||||
Debt Instrument, Periodic Payment, Total | $ 1,339 | ||||||||
Debt Instrument, Term | 4 years | ||||||||
Note Payable Insurance Company 1 [Member] | Minimum [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.60% | ||||||||
Note Payable Insurance Company 1 [Member] | Maximum [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.15% | ||||||||
Note Payable Insurance Company 2 [Member] | Minimum [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.10% | 3.10% | |||||||
Note Payable Insurance Company 2 [Member] | Maximum [Member] | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.78% | 5.78% | |||||||
Mining Equipment [Member] | |||||||||
Property, Plant and Equipment, Gross, Ending Balance | $ 65,120 | $ 1,784,115 | $ 1,784,115 | $ 1,784,115 | $ 1,775,884 |
Note 6 - Notes and Leases Pay69
Note 6 - Notes and Leases Payable - Summary of Note Payable (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |||
Note payable | $ 66.415 | $ 212,134 | $ 247,222 | |||
Less: Current Portion | (66,415) | (212,134) | (234,149) | |||
Notes Payable, Long-Term Portion | 0 | 0 | 13,073 | |||
Note Payable Mining Equipment [Member] | ||||||
Note payable | 6,605 | [1] | 13,073 | [1],[2] | 28,033 | [2] |
Note Payable Insurance Company [Member] | ||||||
Note payable | $ 59,810 | [3],[4] | $ 199,061 | [3],[4],[5],[6] | $ 213,534 | [5],[6] |
[1] | On October 31, 2014, the Company purchased mining equipment for $65,120 by paying deposit and issuing a note in the amount of $57,900 with an interest rate of 5.2%. The note is collateralized by the mining equipment with payments of $1,339 for 48 months, which started on November 30, 2014. | |||||
[2] | On October 31, 2014, the Company purchased mining equipment for $65,120 by paying deposit and issuing a note in the amount of $57,900 with an interest rate of 5.2%. The note is collateralized by the mining equipment with payments of $1,339 for 48 months, which started on November 30, 2014. | |||||
[3] | The Company signed a note payable with an insurance company dated October 17, 2016 for liability insurance, payable in monthly installments, including interest ranging from 2.6% - 4.15% | |||||
[4] | The Company signed a note payable with an insurance company dated October 17, 2017 for liability insurance, payable in monthly installments, including interest ranging from 3.1% - 5.78% | |||||
[5] | The Company signed a note payable with an insurance company dated October 17, 2016 for liability insurance, payable in monthly installments, including interest ranging from 2.6% - 4.15% | |||||
[6] | The Company signed a note payable with an insurance company dated October 17, 2017 for liability insurance, payable in monthly installments, including interest ranging from 3.1% - 5.78% |
Note 6 - Notes and Leases Pay70
Note 6 - Notes and Leases Payable - Summary of Note Payable (Details) (Parentheticals) - USD ($) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Note Payable Mining Equipment [Member] | |||
Debt Instrument, Periodic Payment, Total | $ 1,339 | $ 1,339 | $ 1,339 |
Note Payable Insurance Company [Member] | Minimum [Member] | |||
Debt Instrument, Periodic Payment, Total | 5,045 | 5,045 | 5,045 |
Note Payable Insurance Company [Member] | Maximum [Member] | |||
Debt Instrument, Periodic Payment, Total | $ 17,959 | $ 17,959 | $ 17,959 |
Note 7 - Convertible Debt (PI71
Note 7 - Convertible Debt (PIK Notes) (Details Textual) - USD ($) | Dec. 14, 2017 | Nov. 03, 2014 | Nov. 30, 2017 | Aug. 31, 2017 | May 31, 2017 | Feb. 28, 2017 | Feb. 28, 2014 | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2014 | Dec. 15, 2017 | Dec. 31, 2015 | Dec. 31, 2013 | Aug. 05, 2013 | Aug. 01, 2013 |
Paid-in-Kind Interest | $ 770,815 | $ 2,007,329 | $ 4,817,557 | $ 3,551,195 | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 24,813,373 | 24,813,373 | 18,813,373 | 3,744,623 | 461,340 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.15 | $ 0.15 | $ 0.14 | $ 0.36 | $ 1.15 | |||||||||||||
Warrants Issued to Series 2023 Notes Holders [Member] | ||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 298,420 | 3,720,000 | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.10 | |||||||||||||||||
Warrants and Rights Outstanding | $ 224,290 | |||||||||||||||||
Series A PIK Note Derivative Liability [Member] | ||||||||||||||||||
Derivative Liability, Fair Value, Gross Liability, Total | $ 8,000,101 | $ 8,000,101 | 1,883,630 | $ 2,033,643 | ||||||||||||||
Series 2023 PIK Note Derivative Liability [Member] | ||||||||||||||||||
Derivative Liability, Fair Value, Gross Liability, Total | 748,417 | 748,417 | 163,634 | 142,909 | ||||||||||||||
Series A Notes [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.40 | |||||||||||||||||
Debt Instrument, Face Amount | $ 19,848,486 | |||||||||||||||||
Series 2023 Notes [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.59 | |||||||||||||||||
Debt Instrument, Face Amount | $ 10,500,000 | |||||||||||||||||
Payment in Kind (PIK) Note [Member] | ||||||||||||||||||
Proceeds from Convertible Debt | $ 23,000,000 | |||||||||||||||||
Convertible Notes Payable, Total | 33,244,605 | 23,040,093 | ||||||||||||||||
Long-term Debt, Gross | 43,367,095 | 43,367,095 | 43,000,437 | 38,196,966 | ||||||||||||||
Paid-in-Kind Interest | $ 1,266,613 | $ 1,206,289 | ||||||||||||||||
Payment in Kind (PIK) Note [Member] | Series A Notes [Member] | ||||||||||||||||||
Proceeds from Convertible Debt | $ 12,500,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | 10.00% | 3.00% | ||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.90 | $ 0.90 | ||||||||||||||||
Debt Instrument, Face Amount | $ 19,848,486 | |||||||||||||||||
Amortization of Debt Issuance Costs and Discounts, Total | 80,142 | 2,239,656 | 5,808,294 | 2,549,433 | ||||||||||||||
Debt Instrument, Increase, Accrued Interest | $ 324,925 | 304,977 | 2,797,836 | 2,243,003 | ||||||||||||||
Convertible Notes Payable, Total | 21,458,096 | 21,458,096 | 26,909,721 | 10,696,047 | ||||||||||||||
Long-term Debt, Gross | 27,214,693 | 27,214,693 | 26,909,721 | 24,125,958 | ||||||||||||||
Payment in Kind (PIK) Note [Member] | Series 2023 Notes [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | ||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.40 | $ 0.59 | ||||||||||||||||
Debt Instrument, Face Amount | $ 10,500,000 | |||||||||||||||||
Amortization of Debt Issuance Costs and Discounts, Total | 200,360 | 154,567 | ||||||||||||||||
Debt Instrument, Increase, Accrued Interest | 50,115 | 61,681 | 2,019,717 | 1,308,192 | ||||||||||||||
Convertible Notes Payable, Total | 14,497,104 | 14,497,104 | 16,090,721 | 12,344,046 | ||||||||||||||
Long-term Debt, Gross | $ 16,152,402 | $ 16,152,402 | $ 16,090,721 | $ 14,071,008 | ||||||||||||||
Paid-in-Kind Interest | $ 577,439 | $ 738,728 | $ 703,550 | $ 577,439 |
Note 7 - Convertible Debt (PI72
Note 7 - Convertible Debt (PIK Notes) - Terms of Debt (Details) - USD ($) | Nov. 03, 2014 | Dec. 31, 2017 | Dec. 31, 2016 |
Cash Received | $ 199,061 | $ 240,340 | |
Series 2023 Notes [Member] | |||
Inception Date | Aug. 1, 2013 | ||
Cash Received | $ 10,500,000 | ||
Principal (Initial Liability) | $ 10,500,000 | ||
Maturity (Term) | Aug. 1, 2023 | ||
Exercise Price (in dollars per share) | $ 0.59 | ||
Stated Interest | 10.00% | ||
Derivative Liability | $ 2,055,000 | ||
Series A Notes [Member] | |||
Inception Date | Nov. 3, 2014 | ||
Cash Received | $ 12,500,000 | ||
Principal (Initial Liability) | $ 19,848,486 | ||
Maturity (Term) | May 1, 2023 | ||
Exercise Price (in dollars per share) | $ 0.40 | ||
Stated Interest | 10.00% | ||
Derivative Liability | $ 9,212,285 |
Note 7 - Convertible Debt (PI73
Note 7 - Convertible Debt (PIK Notes) - Convertible Debt PIK Notes (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Nov. 03, 2014 |
Less: Discount | $ (6,941,703) | $ (9,755,832) | $ (15,143,123) | |
Series 2023 Notes [Member] | ||||
Derivative Liability | $ 2,055,000 | |||
Series A Notes [Member] | ||||
Derivative Liability | 9,212,285 | |||
Payment in Kind (PIK) Note [Member] | ||||
PIK Note Payable, Gross | 43,367,095 | 43,000,437 | 38,196,966 | |
Less: Discount | (6,941,703) | (9,240,138) | (15,143,123) | |
Less: Deferred Financing Cost | (470,192) | (515,694) | (13,750) | |
PIK Note Payable, Net | 35,955,200 | 33,244,605 | ||
Derivative Liability | 8,748,518 | 2,047,264 | 2,176,552 | |
Payment in Kind (PIK) Note [Member] | Series 2023 Notes [Member] | ||||
PIK Note Payable, Gross | 16,152,402 | 16,090,721 | 14,071,008 | |
Less: Discount | (1,453,542) | (1,538,299) | (1,721,898) | |
Less: Deferred Financing Cost | (201,756) | (221,280) | (5,064) | |
PIK Note Payable, Net | 14,497,104 | 14,331,142 | ||
Derivative Liability | 748,417 | 163,634 | 142,909 | |
Payment in Kind (PIK) Note [Member] | Series A Notes [Member] | ||||
PIK Note Payable, Gross | 27,214,693 | 26,909,721 | 24,125,958 | |
Less: Discount | (5,488,161) | (7,701,839) | (13,421,225) | $ (16,560,771) |
Less: Deferred Financing Cost | (268,436) | (294,414) | (8,686) | |
PIK Note Payable, Net | 21,548,096 | 18,913,463 | ||
Derivative Liability | $ 8,000,101 | $ 1,883,630 | $ 2,033,643 |
Note 8 - Stockholders' Equity (
Note 8 - Stockholders' Equity (Details Textual) - $ / shares | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2016 | Oct. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 07, 2017 | Dec. 06, 2017 | Dec. 31, 2015 | |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |||||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 0 | 0 | |||||
Common Stock, Shares Authorized | 400,000,000 | 400,000,000 | 400,000,000 | 400,000,000 | 250,000,000 | |||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Common Stock, Shares, Issued, Total | 173,638,549 | 140,763,549 | 108,613,549 | |||||
Common Stock, Shares, Outstanding, Ending Balance | 173,638,549 | 140,763,549 | 108,613,549 | |||||
Stock Issued During Period, Shares, Issued for Services | 1,500,000 | |||||||
Shares Issued, Price Per Share | $ 0.04 | |||||||
Convertible Units, Number of Warrants Called by Each Unit | 1 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | 0.15 | $ 0.14 | $ 0.36 | $ 1.15 | ||||
Stock Issued During Period, Shares, in Lieu of Payment for Fees Associated with Private Placement | 2,275,000 | 2,275,000 | ||||||
Stock Issued During Period, in Lieu of Payment for Fees Associated with Private Placement, Price Per Share | $ 0.04 | |||||||
Stock Issued During Period, Shares, Warrant Exercised | 3,125,000 | |||||||
Stock Issued During Period, Warrant Exercised, Exercise price | $ 0.04 | |||||||
Director [Member] | ||||||||
Stock Issued During Period, Shares, Issued for Services | 250,000 | |||||||
Shares Issued, Price Per Share | $ 0.36 | |||||||
Sale of Stock, One [Member] | ||||||||
Shares Issued, Price Per Share | $ 0.04 | |||||||
Stock Issued During Period, Shares, New Issues | 17,375,000 | |||||||
Sale of Stock, Two [Member] | ||||||||
Shares Issued, Price Per Share | $ 0.05 | |||||||
Stock Issued During Period, Shares, New Issues | 3,000,000 | |||||||
Sale of Stock, Three [Member] | ||||||||
Shares Issued, Price Per Share | $ 0.10 | |||||||
Stock Issued During Period, Shares, New Issues | 1,000,000 | |||||||
Sale of Stock, Four [Member] | ||||||||
Shares Issued, Price Per Share | $ 0.04 | |||||||
Stock Issued During Period, Shares, New Issues | 2,000,000 | |||||||
Private Placement [Member] | ||||||||
Shares Issued, Price Per Share | $ 0.15 | |||||||
Stock Issued During Period, Shares, New Issues | 10,933,333 | 26,500,000 | 8,000,000 | 26,500,000 | 10,933,333 | |||
Convertible Units, Number of Warrants Called by Each Unit | 1 | 1 | 1 | |||||
Convertible Units, Number of Common Shares Called by Each Unit | 1 | 1 | 1 | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | 0.25 | 0.3 | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.08 | $ 0.04 | ||||||
Stock Issued During Period, Shares, in Lieu of Payment for Fees Associated with Private Placement | 2,275,000 |
Note 9 - Options and Warrants75
Note 9 - Options and Warrants to Purchase Common Stock (Details Textual) | Dec. 14, 2017USD ($)$ / shares$ / itemshares | Jun. 30, 2018USD ($) | Jun. 30, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Feb. 01, 2018USD ($) | Dec. 07, 2016shares | May 31, 2016shares | Nov. 20, 2012shares |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 4,224,999 | 35,810,289 | 3,771,488 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.11 | $ 0.06 | $ 0.24 | ||||||
Price Per Unit | $ / item | 0.04 | ||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 4,114,914 | $ 4,114,914 | $ 0 | ||||||
Warrants In Connection with Units [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares | 0.25 | ||||||||
Performance-based Options [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 27,500,000 | ||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.06 | ||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche One [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | ||||||||
Performance-based Options, Vesting Feature, Close Sale of Units, Amount | $ 600,000 | ||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche Two [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||||
Performance-based Options, Vesting Feature, Close Sale of Units, Amount | $ 900,000 | ||||||||
Performance-based Options, Vesting Feature, Additional Cash Proceeds | $ 900,000 | $ 900,000 | |||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche Three [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 8.30% | ||||||||
Performance-based Options, Vesting Feature, EBITDA, Positive Period | 1 year | ||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche Four [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 8.30% | ||||||||
Performance-based Options, Vesting Feature, EBITDA, Minimum Value Over 12 Month Period | $ 2,000,000 | ||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche Five [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 8.40% | ||||||||
Performance-based Options, Vesting Feature, EBITDA, Minimum Value Over 12 Month Period | $ 4,000,000 | ||||||||
Employee Stock Option [Member] | |||||||||
Allocated Share-based Compensation Expense, Total | 192,299 | 775,299 | 961,221 | $ 698,350 | |||||
Time-based Unvested Options [Member] | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | 442,520 | $ 442,520 | $ 303,522 | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 193 days | 146 days | |||||||
Performance-based Unvested Options [Member] | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ 354,750 | $ 354,750 | $ 709,500 | ||||||
LTIP [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 8,900,000 | ||||||||
2016 LTIP [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 2,000,000 | ||||||||
Incentive Plan 2016 [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 15,000,000 | ||||||||
2017 IP [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 40,000,000 |
Note 9 - Options and Warrants76
Note 9 - Options and Warrants to Purchase Common Stock - Summary of the Status and Changes of the Warrants (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding at begin of year, warrant (in shares) | 18,813,373 | 3,744,623 | 461,340 |
Outstanding at begin of year, warrant, weighted average price (in dollars per share) | $ 0.14 | $ 0.36 | $ 1.15 |
Issued, warrant (in shares) | 8,000,000 | 18,193,750 | 3,283,283 |
Issued, warrant, weighted average price (in dollars per share) | $ 0.15 | $ 0.07 | $ 0.25 |
Exercised, warrant (in shares) | (2,000,000) | (3,125,000) | |
Exercised, warrant, weighted average price (in dollars per share) | $ 0.04 | $ 0.04 | |
Forfeited, warrant (in shares) | |||
Forfeited, warrant, weighted average price (in dollars per share) | |||
Outstanding at end of year, warrant (in shares) | 24,813,373 | 18,813,373 | 3,744,623 |
Outstanding at end of year, warrant, weighted average price (in dollars per share) | $ 0.15 | $ 0.14 | $ 0.36 |
Note 9 - Options and Warrants77
Note 9 - Options and Warrants to Purchase Common Stock - Summary of the Status of the Warrants Outstanding (Details) - $ / shares | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Warrants outstanding and exercisable, number outstanding (in shares) | 24,813,373 | 18,813,373 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 5 years 73 days | 4 years 219 days | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.15 | $ 0.14 | $ 0.36 | $ 1.15 |
Exercise Price 1 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 461,340 | 461,340 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 2 years 292 days | 3 years 109 days | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 1.15 | $ 1.15 | ||
Exercise Price 2 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 3,283,283 | 3,283,283 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 3 years | 3 years 182 days | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.25 | $ 0.25 | ||
Exercise Price 3 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 2,068,750 | 4,068,750 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 4 years 109 days | 4 years 255 days | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.04 | $ 0.04 | ||
Exercise Price 4 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 11,000,000 | 11,000,000 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 4 years 182 days | 5 years | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.10 | $ 0.10 | ||
Exercise Price 5 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 8,000,000 | |||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 3 years | |||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.15 |
Note 9 - Options and Warrants78
Note 9 - Options and Warrants to Purchase Common Stock - Significant Assumptions Relating to the Valuation of Stock Options (Details) - Employee Stock Option [Member] | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Dividend Yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | |||
Expected Life (in years) (Year) | 2 years 175 days | 2 years 182 days | 2 years |
Expected Volatility | 163.73% | 114.98% | 65.49% |
Risk Free Interest Rate | 2.54% | 1.38% | 0.76% |
Maximum [Member] | |||
Expected Life (in years) (Year) | 2 years 350 days | 6 years 98 days | 9 years 7 days |
Expected Volatility | 177.59% | 167.28% | 65.49% |
Risk Free Interest Rate | 2.62% | 2.26% | 1.78% |
Note 9 - Options and Warrants79
Note 9 - Options and Warrants to Purchase Common Stock - Summary of the Status and Changes of the Options Granted Under the Stock Option Plans and Other Agreements (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding at December 31, 2017 (in shares) | 57,057,768 | 21,277,479 | 17,806,472 |
Outstanding at December 31, 2017 (in dollars per share) | $ 0.36 | $ 0.87 | $ 1 |
Stock options granted (in shares) | 4,224,999 | 35,810,289 | 3,771,488 |
Granted (in dollars per share) | $ 0.11 | $ 0.06 | $ 0.24 |
Exercised (in shares) | |||
Exercised (in dollars per share) | |||
Forfeited (in shares) | (232,645) | (30,000) | (300,481) |
Forfeited (in dollars per share) | $ 1.36 | $ 0.83 | |
Outstanding at June 30, 2018 (in shares) | 61,050,122 | 57,057,768 | 21,277,479 |
Outstanding at June 30, 2018 (in dollars per share) | $ 0.34 | $ 0.36 | $ 0.87 |
Note 9 - Options and Warrants80
Note 9 - Options and Warrants to Purchase Common Stock - Summary of the Status of the Options Outstanding (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Options outstanding, number outstanding (in shares) | 61,050,122 | |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 299 days | 7 years 164 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.34 | $ 0.36 |
Options exercisable, number exercisable (in shares) | 49,980,471 | 37,273,079 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.40 | $ 0.52 |
Exercise Price 1 [Member] | ||
Options outstanding, number outstanding (in shares) | 35,322,222 | |
Options outstanding, weighted average remaining contractual life (Year) | 9 years 124 days | 9 years 346 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.06 | $ 0.06 |
Options exercisable, number exercisable (in shares) | 26,697,225 | 15,568,718 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.06 | $ 0.06 |
Exercise Price 2 [Member] | ||
Options outstanding, number outstanding (in shares) | 545,289 | |
Options outstanding, weighted average remaining contractual life (Year) | 9 years 175 days | 9 years 357 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.075 | $ 0.075 |
Options exercisable, number exercisable (in shares) | 408,968 | 45,289 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.075 | $ 0.075 |
Exercise Price 3 [Member] | ||
Options outstanding, number outstanding (in shares) | 377,777 | |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 339 days | 3 years 226 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.11 | $ 0.16 |
Options exercisable, number exercisable (in shares) | 69,444 | 500,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.11 | $ 0.16 |
Exercise Price 4 [Member] | ||
Options outstanding, number outstanding (in shares) | 3,000,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 222 days | 6 years 51 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.12 | $ 0.21 |
Options exercisable, number exercisable (in shares) | 1,000,000 | 40,698 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.12 | $ 0.21 |
Exercise Price 5 [Member] | ||
Options outstanding, number outstanding (in shares) | 500,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 3 years 47 days | 2 years 259 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.16 | $ 0.22 |
Options exercisable, number exercisable (in shares) | 500,000 | 100,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.16 | $ 0.22 |
Exercise Price 6 [Member] | ||
Options outstanding, number outstanding (in shares) | 81,395 | |
Options outstanding, weighted average remaining contractual life (Year) | 5 years 233 days | 3 years 131 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.21 | $ 0.24 |
Options exercisable, number exercisable (in shares) | 81,395 | 1,066,155 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.21 | $ 0.24 |
Exercise Price 7 [Member] | ||
Options outstanding, number outstanding (in shares) | 100,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 2 years 80 days | 4 years 288 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.22 | $ 0.25 |
Options exercisable, number exercisable (in shares) | 100,000 | 2,087,500 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.22 | $ 0.25 |
Exercise Price 8 [Member] | ||
Options outstanding, number outstanding (in shares) | 1,066,155 | |
Options outstanding, weighted average remaining contractual life (Year) | 2 years 317 days | 5 years 105 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.24 | $ 0.27 |
Options exercisable, number exercisable (in shares) | 1,066,155 | 17,798 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.24 | $ 0.27 |
Exercise Price 9 [Member] | ||
Options outstanding, number outstanding (in shares) | 2,087,500 | |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 105 days | 6 years 131 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.25 | $ 0.28 |
Options exercisable, number exercisable (in shares) | 2,087,500 | 362,408 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.25 | $ 0.28 |
Exercise Price 10 [Member] | ||
Options outstanding, number outstanding (in shares) | 35,595 | |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 288 days | 5 years 47 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.27 | $ 0.285 |
Options exercisable, number exercisable (in shares) | 35,595 | 234,506 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.27 | $ 0.285 |
Exercise Price 11 [Member] | ||
Options outstanding, number outstanding (in shares) | 474,815 | |
Options outstanding, weighted average remaining contractual life (Year) | 5 years 313 days | 3 years 18 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.28 | $ 0.30 |
Options exercisable, number exercisable (in shares) | 474,815 | 40,716 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.28 | $ 0.30 |
Exercise Price 12 [Member] | ||
Options outstanding, number outstanding (in shares) | 234,506 | |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 233 days | 7 years 43 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.285 | $ 0.66 |
Options exercisable, number exercisable (in shares) | 234,506 | 200,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.285 | $ 0.66 |
Exercise Price 13 [Member] | ||
Options outstanding, number outstanding (in shares) | 81,522 | |
Options outstanding, weighted average remaining contractual life (Year) | 2 years 204 days | 7 years 36 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.30 | $ 0.68 |
Options exercisable, number exercisable (in shares) | 81,522 | 99,990 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.30 | $ 0.68 |
Exercise Price 14 [Member] | ||
Options outstanding, number outstanding (in shares) | 200,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 229 days | 361 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.66 | $ 0.70 |
Options exercisable, number exercisable (in shares) | 200,000 | 7,233,277 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.66 | $ 0.70 |
Exercise Price 15 [Member] | ||
Options outstanding, number outstanding (in shares) | 150,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 222 days | 7 years 138 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.68 | $ 0.73 |
Options exercisable, number exercisable (in shares) | 150,000 | 371,666 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.68 | $ 0.73 |
Exercise Price 16 [Member] | ||
Options outstanding, number outstanding (in shares) | 7,233,277 | |
Options outstanding, weighted average remaining contractual life (Year) | 182 days | 4 years 54 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.70 | $ 0.83 |
Options exercisable, number exercisable (in shares) | 7,233,277 | 3,104,653 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.70 | $ 0.83 |
Exercise Price 17 [Member] | ||
Options outstanding, number outstanding (in shares) | 488,356 | |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 324 days | 6 years 164 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.73 | $ 0.84 |
Options exercisable, number exercisable (in shares) | 488,356 | 975,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.73 | $ 0.84 |
Exercise Price 18 [Member] | ||
Options outstanding, number outstanding (in shares) | 3,104,653 | |
Options outstanding, weighted average remaining contractual life (Year) | 3 years 237 days | 5 years 233 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.83 | $ 1.10 |
Options exercisable, number exercisable (in shares) | 3,104,653 | 300,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.83 | $ 1.10 |
Exercise Price 19 [Member] | ||
Options outstanding, number outstanding (in shares) | 975,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 5 years 346 days | 5 years 175 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.84 | $ 1.15 |
Options exercisable, number exercisable (in shares) | 975,000 | 300,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.84 | $ 1.15 |
Exercise Price 20 [Member] | ||
Options outstanding, number outstanding (in shares) | 300,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 5 years 51 days | 29 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.10 | $ 1.24 |
Options exercisable, number exercisable (in shares) | 300,000 | 100,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.10 | $ 1.24 |
Exercise Price 21 [Member] | ||
Options outstanding, number outstanding (in shares) | 300,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 361 days | 3 years 87 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.15 | $ 1.35 |
Options exercisable, number exercisable (in shares) | 300,000 | 115,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.15 | $ 1.35 |
Exercise Price 22 [Member] | ||
Options outstanding, number outstanding (in shares) | 115,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 2 years 270 days | 29 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.35 | $ 1.45 |
Options exercisable, number exercisable (in shares) | 115,000 | 125,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.35 | $ 1.45 |
Exercise Price 23 [Member] | ||
Options outstanding, number outstanding (in shares) | 300,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 3 years 328 days | 4 years 146 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.55 | $ 1.55 |
Options exercisable, number exercisable (in shares) | 300,000 | 300,000 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.55 | $ 1.55 |
Exercise Price 24 [Member] | ||
Options outstanding, number outstanding (in shares) | 3,077,060 | |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 142 days | 32 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.66 | $ 1.58 |
Options exercisable, number exercisable (in shares) | 3,077,060 | 7,645 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.66 | $ 1.58 |
Exercise Price 25 [Member] | ||
Options outstanding, number outstanding (in shares) | 900,000 | |
Options outstanding, weighted average remaining contractual life (Year) | 3 years 51 days | 4 years 324 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.90 | $ 1.66 |
Options exercisable, number exercisable (in shares) | 900,000 | 3,077,060 |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.90 | $ 1.66 |
Note 10 - Per Share Data (Detai
Note 10 - Per Share Data (Details Textual) - shares | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Employee Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 61,050,122 | 21,897,479 | 57,057,768 | 21,277,479 |
Warrant [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 24,813,373 | 3,744,623 | 18,813,373 | 3,744,623 |
Convertible Debt Securities [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 94,413,680 | 40,677,826 | 94,546,696 | 40,060,395 |
Note 11 - Commitments and Con82
Note 11 - Commitments and Contingencies (Details Textual) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Operating Leases Monthly Rent | $ 6,000 | $ 6,000 |
Lessee, Finance Lease, Term of Contract | 5 years | |
Operating Leases, Future Minimum Payments Due, Total | $ 442,997 | |
Operating Leases, Future Minimum Payments, Remainder of Fiscal Year | 53,766 | |
Operating Leases, Future Minimum Payments, Due in Two Years | 163,998 | |
Operating Leases, Future Minimum Payments, Due in Three Years | 277,518 | |
Operating Leases, Future Minimum Payments, Due in Four Years | 394,452 | |
Operating Leases, Future Minimum Payments, Due in Five Years | $ 423,828 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - $ / shares | Apr. 03, 2018 | Mar. 02, 2018 | Feb. 23, 2018 | Feb. 09, 2018 | Jul. 31, 2018 | Jun. 30, 2016 | Oct. 31, 2017 | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 |
Shares Issued, Price Per Share | $ 0.04 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 24,813,373 | 18,813,373 | 3,744,623 | 461,340 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.15 | $ 0.14 | $ 0.36 | $ 1.15 | |||||||
Subsequent Event [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues | 1,000,000 | 3,000,000 | 1,125,000 | 2,500,000 | |||||||
Subsequent Event [Member] | Investor Warrants [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,875,000 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.15 | ||||||||||
Private Placement [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues | 10,933,333 | 26,500,000 | 8,000,000 | 26,500,000 | 10,933,333 | ||||||
Shares Issued, Price Per Share | $ 0.15 | ||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.08 | $ 0.04 | |||||||||
Private Placement [Member] | Subsequent Event [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues | 1,875,000 | ||||||||||
Shares Issued, Price Per Share | $ 0.08 |
Note 1 - Organization and Des84
Note 1 - Organization and Description of Business (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | 19 Months Ended | ||
Mar. 31, 2018 | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2017 | |
Largest Customer [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||||||
Concentration Risk, Percentage | 100.00% | 56.00% | 88.00% | 2016.00% | ||
Largest Customer [Member] | Customer Concentration Risk [Member] | Accounts Receivable [Member] | ||||||
Concentration Risk, Percentage | 0.00% | 0.00% | 90.00% | |||
AMIRON Products [Member] | One Customer [Member] | ||||||
Supply Commitment, Agreement Period | 5 years | |||||
Revenue, Net (Deprecated 2018-01-31) | $ 5 | |||||
Supply Commitment, Agreement Period After Extension | 5 years | |||||
Supply Commitment, Additional Amount the Customer May Elect Upon Extension | $ 8,000,000 | |||||
Supply Commitment, Purchase Order Delivery Term Upon Extension | 2 years |
Note 2 - Liquidity and Basis 85
Note 2 - Liquidity and Basis of Presentation (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net Income (Loss) Attributable to Parent, Total | $ (319,039) | $ (5,899,706) | $ (4,407,067) | $ (1,875,446) | $ (2,728,440) | $ (2,106,846) | $ (1,810,425) | $ (3,185,359) | $ (537,142) | $ (12,395,021) | $ (4,603,886) | $ (14,910,659) | $ (7,639,772) |
Net Cash Provided by (Used in) Operating Activities, Total | (1,125,686) | $ (483,308) | (2,108,388) | (2,732,089) | |||||||||
Assets, Current, Total | 536,694 | 280,839 | 1,802,839 | 536,694 | 280,839 | 1,802,839 | |||||||
Liabilities, Current, Total | 1,202,880 | 1,233,077 | $ 1,817,875 | 1,202,880 | 1,233,077 | $ 1,817,875 | |||||||
Accrued Bonuses, Current | 63,537 | 204,700 | 63,537 | 204,700 | |||||||||
Accounts Payable to Compounder | 159,310 | 158,700 | 159,310 | 158,700 | |||||||||
Accrued Director Expense | 15,000 | 15,000 | |||||||||||
Current Liabilities [Member] | |||||||||||||
Disputed Accrued Expenses | 156,200 | 156,200 | 156,200 | 156,200 | |||||||||
Payment in Kind (PIK) Note [Member] | |||||||||||||
Interest Payable | $ 338,741 | $ 57,334 | $ 338,741 | $ 57,334 |
Note 3 - Summary of Significa86
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Allowance for Doubtful Accounts Receivable, Ending Balance | $ 0 | $ 0 | $ 0 | $ 0 | ||
Depreciation, Total | $ 321,818 | $ 328,980 | 644,962 | $ 659,765 | 1,316,537 | 1,348,860 |
Asset Impairment Charges, Total | $ 0 | $ 0 | 0 | $ 0 | ||
Unrecognized Tax Benefits, Ending Balance | 0 | |||||
Accrual for Environmental Loss Contingencies, Ending Balance | $ 0 |
Note 3 - Summary of Significa87
Note 3 - Summary of Significant Accounting Policies - Property and Equipment (Details) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Building and Building Improvements [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | 5 years |
Building and Building Improvements [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 40 years | 40 years |
Mining Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 2 years | 2 years |
Mining Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 7 years | 7 years |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 3 years | 3 years |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 7 years | 7 years |
Vehicles [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | 5 years |
Note 4 - Property and Equipme88
Note 4 - Property and Equipment - Property, Plant, and Equipment (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Oct. 31, 2014 |
Property, Plant and Equipment, Gross | $ 9,255,537 | $ 9,255,537 | $ 9,211,785 | |
Less: Accumulated depreciation | (7,098,108) | (6,453,146) | (5,136,609) | |
Total | 2,157,429 | 2,802,391 | 4,075,176 | |
Land [Member] | ||||
Property, Plant and Equipment, Gross | 500,000 | 500,000 | 500,000 | |
Land Improvements [Member] | ||||
Property, Plant and Equipment, Gross | 171,122 | 171,122 | 171,122 | |
Building [Member] | ||||
Property, Plant and Equipment, Gross | 3,129,519 | 3,129,519 | 3,129,519 | |
Mining Equipment [Member] | ||||
Property, Plant and Equipment, Gross | 1,784,115 | 1,784,115 | 1,775,884 | $ 65,120 |
Milling Equipment [Member] | ||||
Property, Plant and Equipment, Gross | 2,841,726 | 2,841,726 | 2,806,834 | |
Laboratory Equipment [Member] | ||||
Property, Plant and Equipment, Gross | 607,716 | 607,716 | 607,716 | |
Office Equipment [Member] | ||||
Property, Plant and Equipment, Gross | 70,529 | 70,529 | 69,900 | |
Vehicles [Member] | ||||
Property, Plant and Equipment, Gross | $ 150,810 | $ 150,810 | $ 150,810 |
Note 5 - Assets Held for Sale (
Note 5 - Assets Held for Sale (Details Textual) - Core [Member] | Apr. 21, 2016USD ($) | Jan. 31, 2016USD ($) | Dec. 31, 2015 |
Number of Real Estate Properties | 4 | ||
Real Estate, Number Of Properties Sold | 4 | ||
Disposal Group, Including Discontinued Operation, Consideration | $ 172,948 | ||
Proceeds from Sale of Real Estate, Total | $ 418,000 | 155,187 | |
Proceeds from Sale of Real Estate, Allocated to Selling Expense | $ 17,761 | ||
Proceeds from Sale of Real Estate, Net | $ 380,000 | ||
Premium Paid to Auction | 10.00% |
Note 6 - Fair Value Measureme90
Note 6 - Fair Value Measurements and Financial Instruments (Details Textual) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Payment in Kind (PIK) Note [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Convertible Debt, Fair Value Disclosures | $ 12,842,158 | $ 11,395,208 | $ 23,361,553 |
Note 6 - Fair Value Measureme91
Note 6 - Fair Value Measurements and Financial Instruments - Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Series 2023 PIK Note Derivative Liability [Member] | |||
Derivative liability | $ 748,417 | $ 163,634 | $ 142,909 |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Measurements, Recurring [Member] | Reported Value Measurement [Member] | |||
Derivative liability | 163,634 | 142,909 | |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 0 | 0 | |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 0 | 0 | |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 748,417 | 163,634 | |
Series A PIK Note Derivative Liability [Member] | |||
Derivative liability | 8,000,101 | 1,883,630 | 2,033,643 |
Series A PIK Note Derivative Liability [Member] | Fair Value, Measurements, Recurring [Member] | Reported Value Measurement [Member] | |||
Derivative liability | 1,883,630 | $ 2,033,643 | |
Series A PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 0 | 0 | |
Series A PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | 0 | 0 | |
Series A PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | |||
Derivative liability | $ 8,000,101 | $ 1,883,630 |
Note 6 - Fair Value Measureme92
Note 6 - Fair Value Measurements and Financial Instruments - Derivatives Measured at Fair Value (Details) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Balance, beginning | $ 2,047,264 | $ 2,176,552 | $ 2,176,552 | $ 5,138,857 |
Net unrealized gain (loss) included in operations | 6,578,504 | (1,636,841) | (228,277) | (3,229,043) |
Balance, ending | 8,748,518 | 564,749 | 2,047,264 | 2,176,552 |
Series 2023 PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Issuance of additional Series 2023 Notes | 0 | 25,038 | 13,155 | 18,807 |
Series A PIK Note Derivative Liability [Member] | Fair Value, Inputs, Level 3 [Member] | ||||
Issuance of additional Series 2023 Notes | $ 122,750 | $ 0 | $ 85,834 | $ 247,931 |
Note 6 - Fair Value Measureme93
Note 6 - Fair Value Measurements and Financial Instruments - Valuation Assumptions (Details) - Fair Value, Inputs, Level 3 [Member] - $ / shares | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2018 | ||
Series 2023 PIK Note Derivative Liability [Member] | ||||
Market price and estimated fair value of stock (in dollars per share) | $ 0.05 | $ 0.12 | $ 0.17 | |
Exercise price (1) (in dollars per share) | [1] | $ 0.59 | $ 1.28 | |
Term (years) (Year) | 5 years 211 days | 6 years 211 days | ||
Dividend yield | 0.00% | 0.00% | ||
Expected volatility | 115.30% | 86.20% | ||
Risk-free interest rate | 2.24% | 2.18% | ||
Series A PIK Note Derivative Liability [Member] | ||||
Market price and estimated fair value of stock (in dollars per share) | $ 0.05 | $ 0.12 | $ 0.17 | |
Exercise price (1) (in dollars per share) | [1] | $ 0.40 | $ 0.83 | |
Term (years) (Year) | 5 years 211 days | 6 years 211 days | ||
Dividend yield | 0.00% | 0.00% | ||
Expected volatility | 115.30% | 86.20% | ||
Risk-free interest rate | 2.24% | 2.18% | ||
[1] | Exercise price is reflective of amended Series A Notes issued in December 2017 as discussed in Note 8. |
Note 7 - Notes and Leases Pay94
Note 7 - Notes and Leases Payable (Details Textual) - USD ($) | Oct. 31, 2014 | Sep. 20, 2012 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Oct. 17, 2017 | Oct. 17, 2016 |
Property, Plant and Equipment, Gross, Ending Balance | $ 9,255,537 | $ 9,255,537 | $ 9,255,537 | $ 9,211,785 | ||||||
Debt Instrument, Periodic Payment, Interest | 705 | $ 1,216 | 6,206 | $ 2,743 | 6,365 | 4,956 | ||||
Note Payable, Mining Equipment, Purchased in October 2014 [Member] | ||||||||||
Debt Instrument, Face Amount | $ 57,900 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.20% | |||||||||
Debt Instrument, Periodic Payment, Total | $ 1,339 | |||||||||
Debt Instrument, Term | 4 years | |||||||||
Note Payable Mining Site Vehicle [Member] | ||||||||||
Debt Instrument, Face Amount | $ 37,701 | |||||||||
Debt Instrument, Periodic Payment, Total | $ 628 | 628 | 628 | |||||||
Debt Instrument, Term | 5 years | |||||||||
Note Payable Insurance Company 1 [Member] | Minimum [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 2.60% | |||||||||
Note Payable Insurance Company 1 [Member] | Maximum [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.15% | |||||||||
Note Payable Insurance Company 2 [Member] | Minimum [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.10% | 3.10% | ||||||||
Note Payable Insurance Company 2 [Member] | Maximum [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.78% | 5.78% | ||||||||
Mining Equipment [Member] | ||||||||||
Property, Plant and Equipment, Gross, Ending Balance | $ 65,120 | $ 1,784,115 | $ 1,784,115 | $ 1,784,115 | $ 1,775,884 |
Note 7 - Notes and Leases Pay95
Note 7 - Notes and Leases Payable - Summary of Note Payable (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||||
Note payable | $ 66.415 | $ 212,134 | $ 247,222 | ||||
Less: Current Portion | (66,415) | (212,134) | (234,149) | ||||
Notes Payable, Long-Term Portion | 0 | 0 | 13,073 | ||||
Note Payable Mining Equipment [Member] | |||||||
Note payable | 6,605 | [1] | 13,073 | [1],[2] | 28,033 | [2] | |
Note Payable Mining Site Vehicle [Member] | |||||||
Note payable | [3] | 0 | 5,655 | ||||
Note Payable Insurance Company [Member] | |||||||
Note payable | $ 59,810 | [4],[5] | $ 199,061 | [4],[5],[6],[7] | $ 213,534 | [6],[7] | |
[1] | On October 31, 2014, the Company purchased mining equipment for $65,120 by paying deposit and issuing a note in the amount of $57,900 with an interest rate of 5.2%. The note is collateralized by the mining equipment with payments of $1,339 for 48 months, which started on November 30, 2014. | ||||||
[2] | On October 31, 2014, the Company purchased mining equipment for $65,120 by paying deposit and issuing a note in the amount of $57,900 with an interest rate of 5.2%. The note is collateralized by the mining equipment with payments of $1,339 for 48 months, which started on November 30, 2014. | ||||||
[3] | On September 20, 2012, the Company purchased a vehicle for the mine site for $37,701 by issuing a non-interest bearing note. The note is collateralized by the vehicle with payments of $628 for 60 months, which started on October 20, 2012. | ||||||
[4] | The Company signed a note payable with an insurance company dated October 17, 2016 for liability insurance, payable in monthly installments, including interest ranging from 2.6% - 4.15% | ||||||
[5] | The Company signed a note payable with an insurance company dated October 17, 2017 for liability insurance, payable in monthly installments, including interest ranging from 3.1% - 5.78% | ||||||
[6] | The Company signed a note payable with an insurance company dated October 17, 2016 for liability insurance, payable in monthly installments, including interest ranging from 2.6% - 4.15% | ||||||
[7] | The Company signed a note payable with an insurance company dated October 17, 2017 for liability insurance, payable in monthly installments, including interest ranging from 3.1% - 5.78% |
Note 7 - Notes and Leases Pay96
Note 7 - Notes and Leases Payable - Summary of Note Payable (Details) (Parentheticals) - USD ($) | Sep. 20, 2012 | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Note Payable Mining Equipment [Member] | ||||
Debt Instrument, Periodic Payment, Total | $ 1,339 | $ 1,339 | $ 1,339 | |
Note Payable Mining Site Vehicle [Member] | ||||
Debt Instrument, Periodic Payment, Total | $ 628 | 628 | 628 | |
Note Payable Insurance Company [Member] | Minimum [Member] | ||||
Debt Instrument, Periodic Payment, Total | 5,045 | 5,045 | 5,045 | |
Note Payable Insurance Company [Member] | Maximum [Member] | ||||
Debt Instrument, Periodic Payment, Total | $ 17,959 | $ 17,959 | $ 17,959 |
Note 8 - Convertible Debt (PI97
Note 8 - Convertible Debt (PIK Notes) (Details Textual) | Dec. 14, 2017USD ($)$ / sharesshares | Nov. 03, 2014USD ($)$ / shares | Aug. 01, 2013USD ($) | Nov. 30, 2017USD ($) | Aug. 31, 2017USD ($) | May 31, 2017USD ($) | Feb. 28, 2017USD ($) | Feb. 28, 2014USD ($) | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 31, 2014USD ($)$ / shares | Dec. 15, 2017 | Dec. 31, 2015$ / sharesshares | Dec. 31, 2013$ / shares | Aug. 05, 2013$ / shares |
Debt Instrument, Unamortized Discount, Total | $ 6,941,703 | $ 6,941,703 | $ 9,755,832 | $ 15,143,123 | ||||||||||||||
Accrued Liquidated Damages | $ 9 | |||||||||||||||||
Paid-in-Kind Interest | $ 770,815 | $ 2,007,329 | $ 4,817,557 | $ 3,551,195 | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 24,813,373 | 24,813,373 | 18,813,373 | 3,744,623 | 461,340 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.15 | $ 0.15 | $ 0.14 | $ 0.36 | $ 1.15 | |||||||||||||
Series A PIK Note Derivative Liability [Member] | ||||||||||||||||||
Derivative Liability, Fair Value, Gross Liability, Total | $ 8,000,101 | $ 8,000,101 | $ 1,883,630 | $ 2,033,643 | ||||||||||||||
Series 2023 PIK Note Derivative Liability [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 2,055,000 | |||||||||||||||||
Derivative Liability, Fair Value, Gross Liability, Total | 748,417 | 748,417 | $ 163,634 | 142,909 | ||||||||||||||
Financial Instruments Subject to Mandatory Conversion Earliest Conversion | 1 year | |||||||||||||||||
Financial Instrument Subject to Mandatory Conversion Period for Calculation of Conversion Feature | 10 days | |||||||||||||||||
Warrants Issued to Series A Notes Holders [Member] | ||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 6,280,000,000,000 | |||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.10 | |||||||||||||||||
Warrants Issued to Series 2023 Notes Holders [Member] | ||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 298,420 | 3,720,000 | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.10 | |||||||||||||||||
Warrants and Rights Outstanding | $ 224,290 | |||||||||||||||||
Series A Notes [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.40 | |||||||||||||||||
Debt Instrument, Face Amount | $ 19,848,486 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||||
Series 2023 Notes [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.59 | |||||||||||||||||
Debt Instrument, Face Amount | $ 10,500,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||||
Payment in Kind (PIK) Note [Member] | ||||||||||||||||||
Proceeds from Convertible Debt | $ 23,000,000 | |||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 6,941,703 | 6,941,703 | 9,240,138 | 15,143,123 | ||||||||||||||
Paid-in-Kind Interest | $ 1,266,613 | $ 1,206,289 | ||||||||||||||||
Convertible Notes Payable, Total | 33,244,605 | 23,040,093 | ||||||||||||||||
Payment in Kind (PIK) Note [Member] | Series A Notes [Member] | ||||||||||||||||||
Proceeds from Convertible Debt | $ 12,500,000 | |||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.90 | $ 0.90 | ||||||||||||||||
Debt Instrument, Face Amount | $ 19,848,486 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | 10.00% | 3.00% | ||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 9,212,285 | |||||||||||||||||
Debt Instrument, Unamortized Discount, Difference Between Cash Received and Principal | 7,348,486 | |||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 16,560,771 | 5,488,161 | 5,488,161 | 7,701,839 | 13,421,225 | |||||||||||||
Debt Instrument, Increase, Accrued Interest | $ 324,925 | 304,977 | 2,797,836 | 2,243,003 | ||||||||||||||
Amortization of Debt Issuance Costs and Discounts, Total | 80,142 | 2,239,656 | 5,808,294 | 2,549,433 | ||||||||||||||
Convertible Notes Payable, Total | 21,458,096 | 21,458,096 | 26,909,721 | 10,696,047 | ||||||||||||||
Payment in Kind (PIK) Note [Member] | Series A Notes [Member] | Mandatory Conversion of Note if Condition 1 Exists [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 30 | |||||||||||||||||
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | $ 1 | |||||||||||||||||
Payment in Kind (PIK) Note [Member] | Series A Notes [Member] | Mandatory Conversion of Note if Condition 2 Exists [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Threshold Consecutive Trading Days | 10 | |||||||||||||||||
Debt Instrument, Convertible, Stock Price Trigger | $ / shares | $ 1.40 | |||||||||||||||||
Payment in Kind (PIK) Note [Member] | Series A Notes [Member] | Specified Event [Member] | ||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | |||||||||||||||||
Payment in Kind (PIK) Note [Member] | Series 2023 Notes [Member] | ||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 1.40 | $ 0.59 | ||||||||||||||||
Debt Instrument, Face Amount | $ 10,500,000 | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | 10.00% | ||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 1,453,542 | 1,453,542 | 1,538,299 | 1,721,898 | ||||||||||||||
Paid-in-Kind Interest | $ 577,439 | $ 738,728 | $ 703,550 | $ 577,439 | ||||||||||||||
Debt Instrument, Increase, Accrued Interest | 50,115 | 61,681 | 2,019,717 | 1,308,192 | ||||||||||||||
Amortization of Debt Issuance Costs and Discounts, Total | 200,360 | 154,567 | ||||||||||||||||
Convertible Notes Payable, Total | $ 14,497,104 | $ 14,497,104 | $ 16,090,721 | $ 12,344,046 | ||||||||||||||
Debt Instrument, Term | 10 days |
Note 8 - Convertible Debt (PI98
Note 8 - Convertible Debt (PIK Notes) - Convertible Debt PIK Notes (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Nov. 03, 2014 |
Less: Discount | $ (6,941,703) | $ (9,755,832) | $ (15,143,123) | |
Series 2023 Notes [Member] | ||||
Derivative Liability | $ 2,055,000 | |||
Series A Notes [Member] | ||||
Derivative Liability | 9,212,285 | |||
Payment in Kind (PIK) Note [Member] | ||||
PIK Note Payable, Gross | 43,367,095 | 43,000,437 | 38,196,966 | |
Less: Discount | (6,941,703) | (9,240,138) | (15,143,123) | |
Less: Deferred Financing Cost | (470,192) | (515,694) | (13,750) | |
PIK Note Payable, Net | 33,244,605 | 23,040,093 | ||
Derivative Liability | 8,748,518 | 2,047,264 | 2,176,552 | |
Payment in Kind (PIK) Note [Member] | Series 2023 Notes [Member] | ||||
PIK Note Payable, Gross | 16,152,402 | 16,090,721 | 14,071,008 | |
Less: Discount | (1,453,542) | (1,538,299) | (1,721,898) | |
Less: Deferred Financing Cost | (201,756) | (221,280) | (5,064) | |
PIK Note Payable, Net | 14,497,104 | 16,090,721 | 12,344,046 | |
Derivative Liability | 748,417 | 163,634 | 142,909 | |
Payment in Kind (PIK) Note [Member] | Series A Notes [Member] | ||||
PIK Note Payable, Gross | 27,214,693 | 26,909,721 | 24,125,958 | |
Less: Discount | (5,488,161) | (7,701,839) | (13,421,225) | $ (16,560,771) |
Less: Deferred Financing Cost | (268,436) | (294,414) | (8,686) | |
PIK Note Payable, Net | 21,458,096 | 26,909,721 | 10,696,047 | |
Derivative Liability | $ 8,000,101 | $ 1,883,630 | $ 2,033,643 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2016 | Oct. 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 07, 2017 | Dec. 06, 2017 | |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 | 10,000,000 | |||||
Preferred Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | |||||
Preferred Stock, Shares Outstanding, Ending Balance | 0 | 0 | 0 | |||||
Common Stock, Shares Authorized | 400,000,000 | 400,000,000 | 400,000,000 | 400,000,000 | 250,000,000 | |||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||||
Common Stock, Shares, Issued, Total | 173,638,549 | 140,763,549 | 108,613,549 | |||||
Common Stock, Shares, Outstanding, Ending Balance | 173,638,549 | 140,763,549 | 108,613,549 | |||||
Stock Issued During Period, Shares, Issued for Services | 1,500,000 | |||||||
Stock Issued During Period, Value, Issued for Services | $ 60,000 | $ 9,000 | $ 53,914 | |||||
Convertible Units, Number of Warrants Called by Each Unit | 1 | |||||||
Proceeds from Issuance of Common Stock | 1,585,000 | $ 0 | $ 1,060,000 | $ 1,640,000 | ||||
Stock Issued During Period, Shares, in Lieu of Payment for Fees Associated with Private Placement | 2,275,000 | 2,275,000 | ||||||
Stock Issued During Period in Lieu of Payment for Fees Associated with Private Placement, Value | $ 0 | |||||||
Stock Issued During Period, Shares, Warrant Exercised | 3,125,000 | |||||||
Stock Issued During Period, Value, Warrant Exercised | 80,000 | $ 125,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 1,585,000 | |||||||
Private Placement [Member] | ||||||||
Stock Issued During Period, Shares, New Issues | 10,933,333 | 26,500,000 | 8,000,000 | 26,500,000 | 10,933,333 | |||
Convertible Units, Number of Common Shares Called by Each Unit | 1 | 1 | 1 | |||||
Convertible Units, Number of Warrants Called by Each Unit | 1 | 1 | 1 | |||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | 0.25 | 0.3 | |||||
Proceeds from Issuance of Common Stock | $ 1,640,000 | $ 1,060,000 | $ 1,060,000 | |||||
Stock Issued During Period, Shares, in Lieu of Payment for Fees Associated with Private Placement | 2,275,000 | |||||||
Stock Issued During Period in Lieu of Payment for Fees Associated with Private Placement, Value | $ 91,000 | |||||||
Stock Issued During Period, Value, New Issues | $ 1,060,000 | $ 1,640,000 | ||||||
Directors and Consultants [Member] | ||||||||
Stock Issued During Period, Shares, Issued for Services | 250,000 | 203,980 | ||||||
Stock Issued During Period, Value, Issued for Services | $ 9,000 | $ 53,914 |
Note 10 - Options and Warran100
Note 10 - Options and Warrants to Purchase Common Stock (Details Textual) | Dec. 14, 2017USD ($)$ / shares$ / itemshares | Jun. 30, 2016USD ($)$ / sharesshares | Jun. 30, 2018USD ($)$ / sharesshares | Oct. 31, 2017USD ($)$ / sharesshares | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Feb. 01, 2018USD ($) | Dec. 07, 2016shares | Dec. 31, 2015$ / sharesshares | Nov. 20, 2012shares |
Proceeds from Issuance of Common Stock | $ | $ 1,585,000 | $ 0 | $ 1,060,000 | $ 1,640,000 | ||||||||
Number of Securities Called by Each Unit | 1 | 1 | ||||||||||
Convertible Units, Number of Warrants Called by Each Unit | 1 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.15 | $ 0.15 | $ 0.14 | $ 0.36 | $ 1.15 | |||||||
Stock Issued During Period, Shares, in Lieu of Payment for Fees Associated with Private Placement | 2,275,000 | 2,275,000 | ||||||||||
Class of Warrant or Right, Exercised | 12,500,000 | |||||||||||
Stock Issued During Period, Shares, Warrant Exercised | 3,125,000 | |||||||||||
Proceeds from Warrant Exercises | $ | $ 125,000 | $ 0 | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 24,813,373 | 24,813,373 | 18,813,373 | 3,744,623 | 461,340 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 4,224,999 | 35,810,289 | 3,771,488 | |||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.11 | $ 0.06 | $ 0.24 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ | $ 4,114,914 | $ 4,114,914 | $ 0 | |||||||||
Price Per Unit | $ / item | 0.04 | |||||||||||
Performance-based Options [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 27,500,000 | |||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ / shares | $ 0.06 | |||||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 50.00% | |||||||||||
Performance-based Options, Vesting Feature, Close Sale of Units, Amount | $ | $ 600,000 | |||||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||||||||
Performance-based Options, Vesting Feature, Close Sale of Units, Amount | $ | $ 900,000 | |||||||||||
Performance-based Options, Vesting Feature, Additional Cash Proceeds | $ | $ 900,000 | $ 900,000 | ||||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 8.30% | |||||||||||
Performance-based Options, Vesting Feature, EBITDA, Positive Period | 1 year | |||||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 8.30% | |||||||||||
Performance-based Options, Vesting Feature, EBITDA, Minimum Value Over 12 Month Period | $ | $ 2,000,000 | |||||||||||
Performance-based Options [Member] | Share-based Compensation Award, Tranche Five [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 8.40% | |||||||||||
Performance-based Options, Vesting Feature, EBITDA, Minimum Value Over 12 Month Period | $ | $ 4,000,000 | |||||||||||
Employee Stock Option [Member] | ||||||||||||
Allocated Share-based Compensation Expense, Total | $ | 192,299 | 775,299 | 961,221 | $ 698,350 | ||||||||
Time-based Unvested Options [Member] | ||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | 442,520 | $ 442,520 | $ 303,522 | |||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 193 days | 146 days | ||||||||||
Performance-based Unvested Options [Member] | ||||||||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options | $ | $ 354,750 | $ 354,750 | $ 709,500 | |||||||||
LTIP [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 8,900,000 | |||||||||||
Incentive Plan 2016 [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 15,000,000 | |||||||||||
Warrant in Connection with August 2017 Offering [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.25 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.04 | |||||||||||
Warrants Issued in Connection with Series A Notes and Series 2023 Notes [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.10 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 11,000,000 | |||||||||||
Warrants and Rights Outstanding | $ | $ 522,710 | |||||||||||
Warrants In Connection with Units [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.25 | |||||||||||
Private Placement [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues | 10,933,333 | 26,500,000 | 8,000,000 | 26,500,000 | 10,933,333 | |||||||
Proceeds from Issuance of Common Stock | $ | $ 1,640,000 | $ 1,060,000 | $ 1,060,000 | |||||||||
Convertible Units, Number of Warrants Called by Each Unit | 1 | 1 | 1 | 1 | ||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | 1 | 0.25 | 0.3 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.08 | $ 0.08 | $ 0.04 | |||||||||
Stock Issued During Period, Shares, in Lieu of Payment for Fees Associated with Private Placement | 2,275,000 | |||||||||||
Private Placement [Member] | Warrant in Connection with June 2016 Offering [Member] | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 0.3 | |||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 |
Note 10 - Options and Warran101
Note 10 - Options and Warrants to Purchase Common Stock - Summary of the Status and Changes of the Warrants (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding at begin of year, warrant (in shares) | 18,813,373 | 3,744,623 | 461,340 |
Outstanding at begin of year, warrant, weighted average price (in dollars per share) | $ 0.14 | $ 0.36 | $ 1.15 |
Issued, warrant (in shares) | 8,000,000 | 18,193,750 | 3,283,283 |
Issued, warrant, weighted average price (in dollars per share) | $ 0.15 | $ 0.07 | $ 0.25 |
Exercised, warrant (in shares) | (2,000,000) | (3,125,000) | |
Exercised, warrant, weighted average price (in dollars per share) | $ 0.04 | $ 0.04 | |
Forfeited, warrant (in shares) | |||
Forfeited, warrant, weighted average price (in dollars per share) | |||
Outstanding at end of year, warrant (in shares) | 24,813,373 | 18,813,373 | 3,744,623 |
Outstanding at end of year, warrant, weighted average price (in dollars per share) | $ 0.15 | $ 0.14 | $ 0.36 |
Note 10 - Options and Warran102
Note 10 - Options and Warrants to Purchase Common Stock - Summary of the Status of the Warrants Outstanding (Details) - $ / shares | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Warrants outstanding and exercisable, number outstanding (in shares) | 24,813,373 | 18,813,373 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 5 years 73 days | 4 years 219 days | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.15 | $ 0.14 | $ 0.36 | $ 1.15 |
Exercise Price 1 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 461,340 | 461,340 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 2 years 292 days | 3 years 109 days | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 1.15 | $ 1.15 | ||
Exercise Price 2 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 3,283,283 | 3,283,283 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 3 years | 3 years 182 days | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.25 | $ 0.25 | ||
Exercise Price 3 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 2,068,750 | 4,068,750 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 4 years 109 days | 4 years 255 days | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.04 | $ 0.04 | ||
Exercise Price 4 [Member] | ||||
Warrants outstanding and exercisable, number outstanding (in shares) | 11,000,000 | 11,000,000 | ||
Warrants outstanding and exercisable, weighted average remaining contractual life (Year) | 4 years 182 days | 5 years | ||
Warrants outstanding and exercisable, weighted average exercise price (in dollars per share) | $ 0.10 | $ 0.10 |
Note 10 - Options and Warran103
Note 10 - Options and Warrants to Purchase Common Stock - Significant Assumptions Relating to the Valuation of Stock Options (Details) - Employee Stock Option [Member] | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Dividend Yield | 0.00% | 0.00% | 0.00% |
Minimum [Member] | |||
Expected Life (in years) (Year) | 2 years 175 days | 2 years 182 days | 2 years |
Expected Volatility | 163.73% | 114.98% | 65.49% |
Risk Free Interest Rate | 2.54% | 1.38% | 0.76% |
Maximum [Member] | |||
Expected Life (in years) (Year) | 2 years 350 days | 6 years 98 days | 9 years 7 days |
Expected Volatility | 177.59% | 167.28% | 65.49% |
Risk Free Interest Rate | 2.62% | 2.26% | 1.78% |
Note 10 - Options and Warran104
Note 10 - Options and Warrants to Purchase Common Stock - Summary of the Status and Changes of the Options Granted Under the Stock Option Plans and Other Agreements (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding at December 31, 2017 (in shares) | 57,057,768 | 21,277,479 | 17,806,472 |
Outstanding at December 31, 2017 (in dollars per share) | $ 0.36 | $ 0.87 | $ 1 |
Stock options granted (in shares) | 4,224,999 | 35,810,289 | 3,771,488 |
Granted (in dollars per share) | $ 0.11 | $ 0.06 | $ 0.24 |
Exercised (in shares) | |||
Exercised (in dollars per share) | |||
Forfeited (in shares) | (232,645) | (30,000) | (300,481) |
Forfeited (in dollars per share) | $ 1.36 | $ 0.83 | |
Outstanding at June 30, 2018 (in shares) | 61,050,122 | 57,057,768 | 21,277,479 |
Outstanding at June 30, 2018 (in dollars per share) | $ 0.34 | $ 0.36 | $ 0.87 |
Note 10 - Options and Warran105
Note 10 - Options and Warrants to Purchase Common Stock - Summary of the Vesting Periods of Options (Details) - shares | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Stock options granted (in shares) | 4,224,999 | 35,810,289 | 3,771,488 | |
Vesting Period 1 [Member] | ||||
Stock options granted (in shares) | 350,000 | |||
Vesting Period 2 [Member] | ||||
Stock options granted (in shares) | 300,000 | |||
Vesting Period 3 [Member] | ||||
Stock options granted (in shares) | 100,000 | |||
Vesting Period 4 [Member] | ||||
Stock options granted (in shares) | 140,000 | |||
Vesting Period 5 [Member] | ||||
Stock options granted (in shares) | 6,875,000 | |||
Vesting Period 6 [Member] | ||||
Stock options granted (in shares) | 545,289 | |||
Vesting Period 7 [Member] | ||||
Stock options granted (in shares) | [1] | 27,500,000 | ||
[1] | On December 14, 2017, the Company's management was granted performance-based options to purchase 27.5 million shares of the Company's common stock at $0.06 per share. The options expire on December 13, 2027. At December 31, 2017, the first fifty percent (50%) of the performance-based options vested as management was able to (i) close the sale of an aggregate of $600,000 of units (consisting of a share of common stock of the Company and a warrant to buy 0.25 of a share of common stock of the Company) at $0.04 per unit and (ii) establish toll processing arrangements with two toll processors of halloysite that, in management's good faith belief, can process halloysite to the Company's specifications. An additional twenty-five percent (25%) of the performance-based options vested on February 1, 2018 when management generated $900,000 of additional cash proceeds through (i) the sale of common stock and (ii) the licensing of a right to explore the Dragon Mine property for certain precious metals. The vesting of the remaining 8.3%, 8.3% and 8.4% of the performance-based options occurs when (i) EBITDA is positive over a twelve-month period, (ii) EBITDA is at or greater than $2 million over a twelve-month period and (iii) EBITDA is at or greater than $4 million over a twelve-month period, respectively. |
Note 10 - Options and Warran106
Note 10 - Options and Warrants to Purchase Common Stock - Summary of the Status of the Options Outstanding (Details) - $ / shares | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Options Outstanding Number Outstanding (in shares) | 61,050,122 | 57,057,768 | 21,277,479 | 17,806,472 |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 299 days | 7 years 164 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.34 | $ 0.36 | ||
Options exercisable, number exercisable (in shares) | 49,980,471 | 37,273,079 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.40 | $ 0.52 | ||
Exercise Price 1 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 34,475,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 9 years 124 days | 9 years 346 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.06 | $ 0.06 | ||
Options exercisable, number exercisable (in shares) | 26,697,225 | 15,568,718 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.06 | $ 0.06 | ||
Exercise Price 2 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 545,289 | |||
Options outstanding, weighted average remaining contractual life (Year) | 9 years 175 days | 9 years 357 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.075 | $ 0.075 | ||
Options exercisable, number exercisable (in shares) | 408,968 | 45,289 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.075 | $ 0.075 | ||
Exercise Price 3 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 500,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 4 years 339 days | 3 years 226 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.11 | $ 0.16 | ||
Options exercisable, number exercisable (in shares) | 69,444 | 500,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.11 | $ 0.16 | ||
Exercise Price 4 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 81,395 | |||
Options outstanding, weighted average remaining contractual life (Year) | 4 years 222 days | 6 years 51 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.12 | $ 0.21 | ||
Options exercisable, number exercisable (in shares) | 1,000,000 | 40,698 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.12 | $ 0.21 | ||
Exercise Price 5 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 100,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 3 years 47 days | 2 years 259 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.16 | $ 0.22 | ||
Options exercisable, number exercisable (in shares) | 500,000 | 100,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.16 | $ 0.22 | ||
Exercise Price 6 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 1,066,155 | |||
Options outstanding, weighted average remaining contractual life (Year) | 5 years 233 days | 3 years 131 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.21 | $ 0.24 | ||
Options exercisable, number exercisable (in shares) | 81,395 | 1,066,155 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.21 | $ 0.24 | ||
Exercise Price 7 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 2,087,500 | |||
Options outstanding, weighted average remaining contractual life (Year) | 2 years 80 days | 4 years 288 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.22 | $ 0.25 | ||
Options exercisable, number exercisable (in shares) | 100,000 | 2,087,500 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.22 | $ 0.25 | ||
Exercise Price 8 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 35,595 | |||
Options outstanding, weighted average remaining contractual life (Year) | 2 years 317 days | 5 years 105 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.24 | $ 0.27 | ||
Options exercisable, number exercisable (in shares) | 1,066,155 | 17,798 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.24 | $ 0.27 | ||
Exercise Price 9 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 474,815 | |||
Options outstanding, weighted average remaining contractual life (Year) | 4 years 105 days | 6 years 131 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.25 | $ 0.28 | ||
Options exercisable, number exercisable (in shares) | 2,087,500 | 362,408 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.25 | $ 0.28 | ||
Exercise Price 10 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 234,506 | |||
Options outstanding, weighted average remaining contractual life (Year) | 4 years 288 days | 5 years 47 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.27 | $ 0.285 | ||
Options exercisable, number exercisable (in shares) | 35,595 | 234,506 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.27 | $ 0.285 | ||
Exercise Price 11 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 81,522 | |||
Options outstanding, weighted average remaining contractual life (Year) | 5 years 313 days | 3 years 18 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.28 | $ 0.30 | ||
Options exercisable, number exercisable (in shares) | 474,815 | 40,716 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.28 | $ 0.30 | ||
Exercise Price 12 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 200,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 4 years 233 days | 7 years 43 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.285 | $ 0.66 | ||
Options exercisable, number exercisable (in shares) | 234,506 | 200,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.285 | $ 0.66 | ||
Exercise Price 13 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 150,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 2 years 204 days | 7 years 36 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.30 | $ 0.68 | ||
Options exercisable, number exercisable (in shares) | 81,522 | 99,990 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.30 | $ 0.68 | ||
Exercise Price 14 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 7,233,277 | |||
Options outstanding, weighted average remaining contractual life (Year) | 6 years 229 days | 361 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.66 | $ 0.70 | ||
Options exercisable, number exercisable (in shares) | 200,000 | 7,233,277 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.66 | $ 0.70 | ||
Exercise Price 15 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 488,356 | |||
Options outstanding, weighted average remaining contractual life (Year) | 6 years 222 days | 7 years 138 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.68 | $ 0.73 | ||
Options exercisable, number exercisable (in shares) | 150,000 | 371,666 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.68 | $ 0.73 | ||
Exercise Price 16 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 3,104,653 | |||
Options outstanding, weighted average remaining contractual life (Year) | 182 days | 4 years 54 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.70 | $ 0.83 | ||
Options exercisable, number exercisable (in shares) | 7,233,277 | 3,104,653 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.70 | $ 0.83 | ||
Exercise Price 17 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 975,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 6 years 324 days | 6 years 164 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.73 | $ 0.84 | ||
Options exercisable, number exercisable (in shares) | 488,356 | 975,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.73 | $ 0.84 | ||
Exercise Price 18 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 300,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 3 years 237 days | 5 years 233 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.83 | $ 1.10 | ||
Options exercisable, number exercisable (in shares) | 3,104,653 | 300,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.83 | $ 1.10 | ||
Exercise Price 19 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 300,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 5 years 346 days | 5 years 175 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.84 | $ 1.15 | ||
Options exercisable, number exercisable (in shares) | 975,000 | 300,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.84 | $ 1.15 | ||
Exercise Price 20 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 100,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 5 years 51 days | 29 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.10 | $ 1.24 | ||
Options exercisable, number exercisable (in shares) | 300,000 | 100,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.10 | $ 1.24 | ||
Exercise Price 21 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 115,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 4 years 361 days | 3 years 87 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.15 | $ 1.35 | ||
Options exercisable, number exercisable (in shares) | 300,000 | 115,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.15 | $ 1.35 | ||
Exercise Price 22 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 125,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 2 years 270 days | 29 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.35 | $ 1.45 | ||
Options exercisable, number exercisable (in shares) | 115,000 | 125,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.35 | $ 1.45 | ||
Exercise Price 23 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 300,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 3 years 328 days | 4 years 146 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.55 | $ 1.55 | ||
Options exercisable, number exercisable (in shares) | 300,000 | 300,000 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.55 | $ 1.55 | ||
Exercise Price 24 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 7,645 | |||
Options outstanding, weighted average remaining contractual life (Year) | 4 years 142 days | 32 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.66 | $ 1.58 | ||
Options exercisable, number exercisable (in shares) | 3,077,060 | 7,645 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.66 | $ 1.58 | ||
Exercise Price 25 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 3,077,060 | |||
Options outstanding, weighted average remaining contractual life (Year) | 3 years 51 days | 4 years 324 days | ||
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.90 | $ 1.66 | ||
Options exercisable, number exercisable (in shares) | 900,000 | 3,077,060 | ||
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.90 | $ 1.66 | ||
Exercise Price 26 [Member] | ||||
Options Outstanding Number Outstanding (in shares) | 900,000 | |||
Options outstanding, weighted average remaining contractual life (Year) | 3 years 229 days | |||
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.90 | |||
Options exercisable, number exercisable (in shares) | 900,000 | |||
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.90 |
Note 11 - Per Share Data (Detai
Note 11 - Per Share Data (Details Textual) - shares | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Employee Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 61,050,122 | 21,897,479 | 57,057,768 | 21,277,479 |
Warrant [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 24,813,373 | 3,744,623 | 18,813,373 | 3,744,623 |
Convertible Debt Securities [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 94,413,680 | 40,677,826 | 94,546,696 | 40,060,395 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 35.00% | 35.00% | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 9,366,549 | $ 4,091,895 | |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | 15,181,980 | $ 0 | |
Scenario, Forecast [Member] | |||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards, Total | $ 69,583,855 | ||
State and Local Jurisdiction [Member] | IDAHO [Member] | |||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 0.02% | ||
State and Local Jurisdiction [Member] | UTAH [Member] | |||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 2.54% | ||
State and Local Jurisdiction [Member] | NEW YORK [Member] | |||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 0.12% | ||
State and Local Jurisdiction [Member] | FLORIDA | |||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 0.06% | ||
State and Local Jurisdiction [Member] | Montana [Member] | |||
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 0.05% | ||
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | $ 98,296,940 |
Note 12 - Income Taxes - Summar
Note 12 - Income Taxes - Summary of Deferred Tax Assets (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Deferred tax assets: | ||
Net operating loss carry forward | $ 23,615,640 | $ 31,980,117 |
Stock-based compensation | 3,102,138 | 4,496,398 |
Fixed assets | 320,571 | 0 |
Accrued bonus | 54,155 | 0 |
Total deferred tax assets | 27,092,705 | 36,476,515 |
Deferred tax liabilities: | ||
Fixed assets | 0 | (17,231) |
Less: valuation allowance | (27,092,705) | (36,459,254) |
Total deferred tax liabilities | $ 0 | $ 0 |
Note 12 - Income Taxes - Reconc
Note 12 - Income Taxes - Reconciliation of Differences Between Effective and Statutory Income Tax Rates (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Federal statutory rate | $ (5,218,730) | $ (2,673,920) |
Federal statutory rate | 35.00% | 35.00% |
Change in valuation allowance | $ (9,366,549) | $ 4,091,895 |
Change in valuation allowance | 62.82% | (53.56%) |
Net nontaxable income related to derivatives | $ (70,786) | $ (1,214,608) |
Net nontaxable income related to derivatives | 0.47% | 15.90% |
Deferred remeasurement | $ 15,181,980 | $ 0 |
Deferred remeasurement | (101.83%) | 0.00% |
Miscellaneous | $ (111,678) | $ 18,717 |
Miscellaneous | 0.75% | (0.24%) |
$ 0 | $ 0 | |
0.00% | 0.00% | |
State and Local Jurisdiction [Member] | IDAHO [Member] | ||
State income taxes | $ (2,514) | $ (2,455) |
State income taxes | 0.02% | 0.03% |
State and Local Jurisdiction [Member] | UTAH [Member] | ||
State income taxes | $ (378,650) | $ (191,070) |
State income taxes | 2.54% | 2.50% |
State and Local Jurisdiction [Member] | NEW YORK [Member] | ||
State income taxes | $ (17,300) | $ (28,559) |
State income taxes | 0.12% | 0.37% |
State and Local Jurisdiction [Member] | Florida [Member] | ||
State income taxes | $ (8,754) | $ 0 |
State income taxes | 0.06% | 0.00% |
State and Local Jurisdiction [Member] | Montana [Member] | ||
State income taxes | $ (7,019) | $ 0 |
State income taxes | 0.05% | 0.00% |
Note 13 - Related Parties - Rel
Note 13 - Related Parties - Related Party Transactions (Details) | Dec. 31, 2017USD ($)$ / sharesshares |
Investment | $ 2,000,000 |
Principal | $ 3,030,303 |
Shares Issuable at 0.40, excluding interest (in shares) | shares | 7,575,758 |
IBS Capital LLC [Member] | The IBS Turnaround Fund (LP) (A Limited Partnership) [Member] | |
Investment | $ 531,960 |
OID/Discount (in dollars per share) | $ / shares | $ 0.66 |
Principal | $ 806,000 |
Shares Issuable at 0.40, excluding interest (in shares) | shares | 2,015,000 |
IBS Capital LLC [Member] | The IBS Turnaround Fund (QP) (A Limited Partnership) [Member] | |
Investment | $ 1,118,040 |
OID/Discount (in dollars per share) | $ / shares | $ 0.66 |
Principal | $ 1,694,000 |
Shares Issuable at 0.40, excluding interest (in shares) | shares | 4,235,000 |
IBS Capital LLC [Member] | The IBS Opportunity Fund Ltd. [Member] | |
Investment | $ 350,000 |
OID/Discount (in dollars per share) | $ / shares | $ 0.66 |
Principal | $ 530,303 |
Shares Issuable at 0.40, excluding interest (in shares) | shares | 1,325,758 |
Note 14 - Commitments and Co112
Note 14 - Commitments and Contingencies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Jun. 30, 2018 | |
Operating Leases Monthly Rent | $ 6,000 | $ 6,000 |
Lessee, Finance Lease, Term of Contract (Deprecated 2018-01-31) | 5 years | |
Year 1 [Member] | ||
Operating Leases Monthly Rent | $ 8,700 | |
Year 2 [Member] | ||
Operating Leases Monthly Rent | 8,961 | |
Year 3 [Member] | ||
Operating Leases Monthly Rent | 9,230 | |
Year 4 [Member] | ||
Operating Leases Monthly Rent | 9,507 | |
Year 5 [Member] | ||
Operating Leases Monthly Rent | $ 9,792 |
Note 15 - Financial Informat113
Note 15 - Financial Information by Quarter (Unaudited) - Quarterly Financial Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||||||||
Jun. 30, 2018 | Dec. 31, 2017 | Sep. 30, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 | Sep. 30, 2016 | Jun. 30, 2016 | Mar. 31, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Revenue | $ 92,438 | $ 143,679 | $ 148,303 | $ 1,357,413 | $ 795,282 | $ 923,711 | $ 975,328 | $ 1,112,467 | $ 1,001,628 | $ 138,085 | $ 2,152,695 | $ 2,444,677 | $ 4,013,134 |
Operating loss | (1,345,296) | (1,982,366) | (1,305,156) | (397,739) | (1,552,522) | (1,017,490) | (1,153,204) | (1,097,913) | (1,291,713) | (3,049,386) | (1,950,261) | (5,237,783) | (4,560,320) |
Net Income (Loss) Attributable to Parent, Total | $ (319,039) | $ (5,899,706) | $ (4,407,067) | $ (1,875,446) | $ (2,728,440) | $ (2,106,846) | $ (1,810,425) | $ (3,185,359) | $ (537,142) | $ (12,395,021) | $ (4,603,886) | $ (14,910,659) | $ (7,639,772) |
Income (Loss) Per Share (Basic and Diluted) (in dollars per share) | $ 0 | $ (0.04) | $ (0.04) | $ (0.02) | $ (0.03) | $ (0.02) | $ (0.02) | $ (0.03) | $ (0.01) | $ (0.08) | $ (0.04) | $ (0.13) | $ (0.07) |
Note 16 - Significant Contra114
Note 16 - Significant Contracts (Details Textual) - CMC [Member] - USD ($) | Jan. 18, 2018 | Dec. 22, 2017 |
Exploration License Period | 10 years | |
Exploration Agreement, Payments Upon Expiration of Due Diligence Period | $ 350,000 | |
Exploration Agreement, Payments on or Before First Anniversary of Effective Date of Agreement | 150,000 | |
Exploration Agreement, Payments on or Before Each Subsequent Anniversary of Effective Date During Exploration License Term | $ 250,000 | |
Exploration Agreement, Option to Purchase, Percentage of Metallic Rights | 100.00% | |
Exploration Agreement, Option to Purchase, Consideration | $ 3,000,000 | |
Exploration Agreement, Option to Purchase, Percentage of Net Profits Interest Royalty Granted | 5.00% | |
Exploration Agreement, Option to Purchase, NPI Royalty Cap | $ 20,000,000 | |
Subsequent Event [Member] | ||
Proceeds from License Fees Received | $ 350,000 |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - USD ($) | Apr. 03, 2018 | Mar. 14, 2018 | Mar. 02, 2018 | Feb. 23, 2018 | Feb. 09, 2018 | Jan. 02, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Stock Issued During Period, Shares, Issued for Services | 1,500,000 | |||||||||
Proceeds from Issuance of Common Stock | $ 1,585,000 | $ 0 | $ 1,060,000 | $ 1,640,000 | ||||||
Stock Issued During Period, Shares, Warrant Exercised | 3,125,000 | |||||||||
Proceeds from Warrant Exercises | $ 125,000 | $ 0 | ||||||||
Subsequent Event [Member] | ||||||||||
Stock Issued During Period, Shares, Issued for Services | 1,500,000 | |||||||||
Stock Issued During Period, Shares, New Issues | 1,000,000 | 3,000,000 | 1,125,000 | 2,500,000 | ||||||
Proceeds from Issuance of Common Stock | $ 100,000 | $ 150,000 | $ 45,000 | $ 100,000 | ||||||
Stock Issued During Period, Shares, Warrant Exercised | 500,000 | |||||||||
Proceeds from Warrant Exercises | $ 20,000 |
Note 18 - Allowances - Valuatio
Note 18 - Allowances - Valuation Allowance for Deferred Tax Assets (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Balance at Beginning of Year | $ 36,459,254 | $ 32,367,359 |
Additions Charged to Expenses/ Other Accounts | 4,091,895 | |
Net Recoveries | (9,366,549) | |
Balance at End of Year | $ 27,092,705 | $ 36,459,254 |