Evolutionary Genomics (FNAM) 10-Q 15 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	3 Months Ended
	Mar. 31, 2019shares
Document And Entity Information [Abstract]
Entity Registrant Name	EVOLUTIONARY GENOMICS, INC.
Entity Central Index Key	0000884363
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding	5,881,898
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2019

Condensed and Consolidated Bala

Condensed and Consolidated Balance Sheets - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash	$ 7,327	$ 131,406
Accounts Receivable	32,366	40,439
Investments	40,143	28,200
Prepaid expenses	27,016	23,372
Total current assets	106,852	223,417
Non-current assets
Property and equipment, net	117,472	127,001
Intangible assets, net	4,037,543	4,038,194
Total non-current assets	4,155,015	4,165,195
Total assets	4,261,867	4,388,612
Current liabilities
Accounts payable and accrued expenses	56,374
Total current liabilities	56,374
Long-term liabilities
Deferred tax liability	955,446	955,446
Total liabilities	1,011,820	955,446
Preferred Stock subject to possible redemption, $0.001 par value, 20,000,000 authorized at March 31, 2019 and December 31, 2018 Series A-1 Convertible Preferred Stock, $0.001 par value; 600,000 shares authorized, 577,063 shares issued and outstanding at March 31, 2019 and December 31, 2018; liquidation preference at March 31, 2019 of $3,771,453	3,029,579	3,029,579
Stockholders' equity
Preferred Stock	741,873	681,282
Common Stock, $0.001 par value; 780,000,000 shares authorized, 5,881,898 shares issued and outstanding at March 31, 2019 and December 31, 2018	5,882	5,882
Additional paid-in capital	12,251,639	12,294,952
Accumulated deficit	(12,778,926)	(12,578,529)
Total stockholders' equity	220,468	403,587
Total liabilities and stockholders' equity	$ 4,261,867	$ 4,388,612

Condensed and Consolidated Ba_2

Condensed and Consolidated Balance Sheets (Parenthetical) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	20,000,000	20,000,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized shares	780,000,000	780,000,000
Common stock, issued shares	5,881,898	5,881,898
Common stock, outstanding shares	5,881,898	5,881,898
Series A-1 Convertible Preferred Stock [Member]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, authorized shares	600,000	600,000
Preferred stock, issued shares	577,063	577,063
Preferred stock, outstanding shares	577,063	577,063
Preferred stock, liquidation preference	$ 3,771,453

Condensed and Consolidated Stat

Condensed and Consolidated Statements of Operations - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Service and grant revenue	$ 32,366
Operating expenses
Research and development	131,684	98,873
Salaries and benefits	54,779	62,144
General and administrative	58,254	81,421
Total operating expenses	244,717	242,438
Operating (loss)	(212,351)	(242,438)
Other income (expenses):
Investment income	11	224
Unrealized gain or (loss) on investments	11,943	(47,857)
Total other (expenses)	11,954	(47,633)
Net loss	(200,397)	(290,071)
Preferred stock dividend	(60,591)	(60,592)
Net loss attributable to common stockholders	$ (260,988)	$ (350,663)
Net loss per common share, basic and diluted	$ (0.04)	$ (0.06)
Weighted average common shares outstanding, basic and diluted	5,881,898	5,881,898

Condensed and Consolidated St_2

Condensed and Consolidated Statement of Stockholders' Equity - USD ($)	Common Stock [Member]	Preferred Dividend [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Total
Balance at Dec. 31, 2017	$ 5,882	$ 438,915	$ 12,438,742	$ (11,479,912)	$ 1,403,627
Balance, shares at Dec. 31, 2017	5,881,898
Stock compensation			24,644		24,644
Preferred stock dividends		60,592	(60,592)
Net loss				(290,071)	(290,071)
Balance at Mar. 31, 2018	$ 5,882	499,507	12,402,794	(11,769,983)	1,138,200
Balance, shares at Mar. 31, 2018	5,881,898
Balance at Dec. 31, 2018	$ 5,882	681,282	12,294,952	(12,578,529)	$ 403,587
Balance, shares at Dec. 31, 2018	5,881,898				5,881,898
Stock compensation			17,278		$ 17,278
Preferred stock dividends		60,591	(60,591)
Net loss				(200,397)	(200,397)
Balance at Mar. 31, 2019	$ 5,882	$ 741,873	$ 12,251,639	$ (12,778,926)	$ 220,468
Balance, shares at Mar. 31, 2019	5,881,898				5,881,898

Condensed and Consolidated St_3

Condensed and Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (200,397)	$ (290,071)
Adjustments to reconcile net loss to net cash flows from operating activities
Depreciation and amortization	10,180	10,269
Stock-based compensation	17,278	24,644
Unrealized (gain) or loss on investments	(11,943)	47,857
Changes in operating assets and liabilities:
Accounts receivable	8,073
Prepaid expenses	(3,644)	(5,762)
Accounts payable and accrued expenses	56,374	(336)
Cash flows from operating activities	(124,079)	(213,399)
Cash flows from investing activities:
Purchase of trading securities
Cash flows from investing activities
Cash flows from financing activities:
Cash flows from financing activities
Net change in cash	(124,079)	(213,399)
Cash, beginning of period	131,406	880,243
Cash, end of period	7,327	666,844
Supplemental cash flow information
Preferred stock dividend accrual	$ 60,591	$ 60,592

Business Activity

Business Activity	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Activity	Note 1: Business Activity Evolutionary Genomics, Inc. (the “Company,” “We,” or “Our”) has developed a technology platform, the Adapted Traits Platform (“ATP”), to identify commercially valuable genes that control important traits in animals and plants. We are using the ATP to identify genes to improve crop plant traits such as yield, sugar content, biomass, drought tolerance, and pest/disease resistance. Our platform identifies key genes that have changed successfully to impart new or improved traits. The Company performs its research on behalf of governmental organizations, non-profit foundations, and commercial entities and receives revenue from grants and commercial research contracts. These grants/contracts contain fixed-fee arrangements and may also have licensing provisions upon effective commercialization of research results. Successful commercialization may take many years to produce license royalty payments. Ownership of intellectual property developed in research projects varies from the Company retaining no rights to intellectual property, to joint ownership, to the Company retaining all rights. During 2014, the Company purchased 75.16% of the outstanding stock of Fona, Inc., (“Fona”) a public shell company. Since Fona was a public shell company which does not constitute a business and the purchase was done in contemplation of a reverse merger, the Company accounted for the payment as a distribution to Fona, Inc. shareholders. The Company also entered into an Agreement and Plan of Merger (the “Merger”), which was consummated on October 19, 2015. As a result of the Merger, Evolutionary Genomics, Inc. became a wholly owned subsidiary of Fona. For accounting purposes, the merger was treated as a reverse acquisition with Evolutionary Genomics, Inc. as the acquirer and Fona as the acquired party. Subsequent to the Merger, Fona, Inc. was renamed Evolutionary Genomics, Inc. and our subsidiary was renamed from Evolutionary Genomics, Inc. to EG Crop Science, Inc.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Note 2: Summary of Significant Accounting Policies Principals of Consolidation Use of Estimates Cash Investments Property and Equipment Long-Lived Assets Intangible Assets Revenue Recognition: Grant revenue, which is not within the scope of Topic 606, consists of funding under cost reimbursement programs primarily from federal and non-profit foundation sources for qualified research and development activities performed by us, and as such, are not based on estimates that are susceptible to change. Such amounts are invoiced and recorded as revenue as grant-funded activities are performed. Income Taxes Under the Income Tax topic of the ASC, in order to recognize an uncertain tax benefit, the taxpayer must be more likely than not of sustaining the position, and the measurement of the benefit is calculated as the largest amount that is more than 50% likely to be realized upon resolution of the benefit. The Company has no accruals for uncertain tax benefits. Stock-Based Compensation The Company’s accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services received follows the provisions of ASC Topic 718. Accordingly, the measurement date for the fair value of the equity instruments issued is determined at the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. Research and Development Net Loss Per Common Share Subsequent Events

New Accounting Standards

New Accounting Standards	3 Months Ended
	Mar. 31, 2019
Accounting Changes and Error Corrections [Abstract]
New Accounting Standards	Note 3: New Accounting Standards Recently Adopted Accounting Standards In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842). The new standard establishes a right-of-use (ROU) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. The Company adopted this standard on January 1, 2019 using the modified-retrospective method and it did not have a material impact on the condensed consolidated financial statements. Recently Issued Accounting Standards In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments,” which requires entities to estimate all expected credit losses for certain types of financial instruments, including trade receivables, held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The updated guidance also expands the disclosure requirements to enable users of financial statements to understand the entity’s assumptions, models and methods for estimating expected credit losses over the entire contractual term of the instrument from the date of initial recognition of that instrument. This guidance is effective for fiscal years beginning after December 15, 2019, including interim periods within that reporting period. Early adoption is permitted. The Company is in the process of evaluating the potential impacts of this new guidance on the Company’s consolidated financial statements and related disclosures.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	Note 4: Fair Value Measurements The Company complies with the provisions of ASC 820, in measuring fair value and in disclosing fair value measurements at the measurement date. ASC 820 defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements required under other accounting pronouncements. Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value measurements also reflect the assumptions market participants would use in pricing an asset or liability based on the best information available. Assumptions include the risks inherent in a particular valuation technique (such as a pricing model) and/or the risks inherent in the inputs to the model. ASC 820 provides three levels of the fair value hierarchy as described below: Level 1 Inputs – Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2 Inputs – Observable market-based inputs, other than quoted prices in active markets for identical assets or liabilities. Level 3 Inputs – Unobservable inputs that are supported by little or no market activity. When determining the fair value measurements for assets or liabilities required or permitted to be recorded at and/or marked to fair value, the Company considers the principal or most advantageous market in which it would transact and considers assumptions that market participants would use when pricing the asset or liability. When possible, the Company looks to active and observable markets to price identical assets. When identical assets are not traded in active markets, the Company looks to market observable data for similar assets. The following summarizes the valuation technique for assets and liabilities measured and recorded at fair value: Total Quoted Prices in Active Markets for Identical Items Significant Other Observable Inputs Significant Unobservable Inputs Balance at December 31, 2018 Investments $ 28,200 $ 28,200 $ — $ — $ 28,200 $ 28,200 $ — $ — Balance at March 31, 2019 Investments $ 40,143 $ 40,143 $ — $ — $ 40,143 $ 40,143 $ — $ — For the Company’s Level 1 measures, which represent common stock in publicly traded companies, fair value is based on the last closing trade occurring on, or closest to, the respective period end date. The carrying value of financial instruments, including cash, receivables, accounts payable, and accrued expenses, approximates their fair value at March 31, 2019 and December 31, 2018 due to the relatively short-term nature of these instruments.

Property and Equipment

Property and Equipment	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment	Note 5: Property and Equipment Property and equipment is comprised of the following: Depreciation expense for the three months ended March 31, 2019 and 2018 was $9,529 and $9,619, respectively. March 31, December 31, 2019 2018 Equipment $ 432,499 $ 432,499 Software 63,179 63,179 Furniture and fixtures 7,987 7,987 503,665 503,665 Accumulated depreciation (386,193 ) (376,664 ) Property and equipment, net $ 117,472 $ 127,001

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Note 6: Intangible Assets Intangible assets are comprised of the following: March 31, December 31, 2019 2018 Acquired research in progress - indefinite lived $ 4,016,596 $ 4,016,596 Patents 52,045 52,045 Accumulated amortization (31,098 ) (30,447 ) Intangible assets, net $ 4,037,543 $ 4,038,194 The Company expects to recognize $2,602 of amortization expense related to its patents during each of the next five years and the remaining $7,938 thereafter. Amortization expense for the patents during the three months ended March 31, 2019 and 2018 was $650 and $650, respectively. In its merger completed on October 19, 2015, the Company acquired research in progress. The value of the acquired research in progress was based upon several factors including, evaluation of other intangible assets, the purchase price, estimated future cash flows, and the amounts expended on the research to date. Acquired research in progress is an indefinite lived intangible asset until the development phase is complete, at which time a useful life of the asset will be determined. The research in progress was the identification and validation of genes to provide pest and disease resistance to soybean plants performed by EG I, LLC. The research had been in process since November 2010 and the Company expects to complete the research and place this asset in service in the first quarter of 2020. Additional costs to complete the research are expected to be approximately $147,000, which will be expensed as incurred. The timing and cost of additional research may vary from these estimates as the success of the research is subject to many factors outside of the Company’s control. If this research is not completed within a reasonable timeframe or within estimated costs, future licensing revenue and the financial condition of the Company could be significantly impacted.

Stockholders' Equity and Warran

Stockholders' Equity and Warrants	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Stockholders' Equity and Warrants	Note 7: Stockholders’ Equity and Warrants The Amended and Restated Certificate of Incorporation of the Company dated October 19, 2015 authorized the issuance of 800,000,000 shares of all classes of stock including 780,000,000 shares of Common Stock having a par value of $0.001 per share and 20,000,000 shares of Preferred Stock having a par value of $0.001 per share, 600,000 of which were designated as pari passu Liquidation Conversion Optional Redemption; Sinking Fund Account: Dividends Voting Warrants Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Term(Years) Balance, January 1, 2018 110,884 $ 6.60 2.87 Granted — — — Exercised — — — Expired — — — Balance, December 31, 2018 110,884 $ 6.60 1.87 Granted — — — Exercised — — — Expired — — — Balance, March 31, 2019 110,884 $ 6.60 1.62

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Note 8: Stock-Based Compensation The Company grants stock-based instruments under the 2015 Stock Incentive Plan (“Plan”) for which 1,400,000 shares of the Company’s Common Stock has been reserved. The Plan allows for the issuance of incentive stock options and non-qualified stock options with a maximum contractual term of 10 years. Shares and options that are cancelled are available for reissuance under the Plan. For the three months ended March 31, 2019 and 2018, the Company recorded compensation costs for stock options of $17,278 and $24,644, respectively. Stock options are generally issued with an exercise price at or above the estimated per-share value of the Company’s Common Stock. The Company granted no options during the three months ended March 31, 2019 and 2018. Management has valued the options at their date of grant utilizing the Black-Scholes option pricing model. As of the issuance of the outstanding options, there was not a public market for the Company’s shares. Accordingly, the Company utilized the value obtained in equity transactions with unrelated parties to estimate the fair value of the Company’s Common Stock on the date of grant. Volatility of the underlying common shares was determined based on the historical volatility for similar companies that are actively traded in the public markets for a term consistent with the expected life of the options. The risk-free interest rate used in the calculations is based on the implied yield available on U.S. Treasury issues with an equivalent term approximating the expected life of the options on the date of the grant. Due to the lack of sufficient historical activity, the expected life of the options was estimated using the formula set forth in Securities and Exchange Commission SAB 107. The following table summarizes the status of the Company’s aggregate stock options granted: Number of Options Weighted Average Exercise Price Weighted Average Remaining Term(Years) Total Intrinsic Value Balance, January 1, 2018 566,667 $ 2.33 6.95 Granted — — — Exercised — — — Cancelled — — — Balance, December 31, 2018 566,667 $ 2.33 5.95 Exercisable at December 31, 2018 450,000 $ 2.10 5.62 Balance, January 1, 2019 566,667 $ 2.33 5.95 Granted — — — Exercised — — — Cancelled — — — Balance, March 31, 2019 566,667 $ 2.33 5.70 $ — Exercisable at March 31, 2019 533,334 $ 2.26 5.61 $ — During the three months ended March 31, 2019 and 2018, options for 83,334 and 83,333 shares vested, respectively. As of March 31, 2019, there was $4,562 unrecognized compensation cost related to share-based compensation arrangements that will be recognized over the next 2 months.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Note 9: Commitments and Contingencies Officer Indemnification Lease Commitments Royalty The Company is obligated to pay royalties to the United Soybean Board of 10% of the sale of products derived from the soybean genes that were the subject of the research performed by the Contractor or from royalties received by the Company from the sale of products by a third party not to exceed 150% of the total amount paid to the Contractor under this Agreement. The Company has recognized to date grant revenue from the contract of $262,400 as of March 31, 2019, thus limiting any future royalties as of March 31, 2019 to a total of $393,600. The Company has not accrued or paid any royalties under the terms of the Agreement as of and during the three months ended March 31, 2019 and 2018 because it has not received any revenue from the sale of products to date.

Related Parties and Transaction

Related Parties and Transactions	3 Months Ended
	Mar. 31, 2019
Related Party Transactions [Abstract]
Related Parties and Transactions	Note 10: Related Parties and Transactions Steve B. Warnecke:

Concentrations

Concentrations	3 Months Ended
	Mar. 31, 2019
Risks and Uncertainties [Abstract]
Concentrations	Note 11: Concentrations Considerations of Credit Risk

Liquidity and Going Concern

Liquidity and Going Concern	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity and Going Concern	Note 12: Liquidity and Going Concern Sources of funding to meet prospective cash requirements include the Company’s existing cash balances and investments along with grant funds. In June 2018, the State of Colorado awarded the Company a $250,000 grant to further our research and we expect to receive those funds through September 30, 2019. As of March 31, 2019, the Company had $7,327 of cash and $40,143 of investments. The Company forecasts using $596,000 of cash for net operating expenses for the twelve months ending March 31, 2020. We believe that these resources will not be sufficient to sustain our operations for a period greater than one year. The ability of the Company to continue its operations is dependent on Management's plans, which include continuing to raise capital through equity or debt based financings. There can be no assurances that such capital will be available to us on acceptable terms, or at all. Effective May 1, 2019, the Company filed a Certificate of Designation which designated 200,000 shares of Preferred Stock as Series A-2 Convertible Preferred Stock that are pari passu with and have identical provisions as the Series A-1. As of the date of this filing, the Company had received $490,000 in proceeds from the sale of those securities. We believe that we may be able to generate grant and/or licensing revenue in the next twelve months that will help offset operating expenses. We are currently seeking additional grant funding but there can be no assurance we will be able to obtain additional funding. We also anticipate marketing our genes to the seed industry over the next twelve months which may provide licensing revenue but there can be no assurance that we will be successful in these efforts. The accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. These financial statements do not include any adjustments relating to the recovery of the recorded assets or the classification of the liabilities that might be necessary should the Company be unable to continue as a going concern.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Principals of Consolidation	Principals of Consolidation
Use of Estimates	Use of Estimates
Cash	Cash
Investments	Investments
Property and Equipment	Property and Equipment
Long-Lived Assets	Long-Lived Assets
Intangible Assets	Intangible Assets
Revenue Recognition	Revenue Recognition: Grant revenue, which is not within the scope of Topic 606, consists of funding under cost reimbursement programs primarily from federal and non-profit foundation sources for qualified research and development activities performed by us, and as such, are not based on estimates that are susceptible to change. Such amounts are invoiced and recorded as revenue as grant-funded activities are performed.
Income Taxes	Income Taxes Under the Income Tax topic of the ASC, in order to recognize an uncertain tax benefit, the taxpayer must be more likely than not of sustaining the position, and the measurement of the benefit is calculated as the largest amount that is more than 50% likely to be realized upon resolution of the benefit. The Company has no accruals for uncertain tax benefits.
Stock-Based Compensation	Stock-Based Compensation The Company’s accounting policy for equity instruments issued to consultants and vendors in exchange for goods and services received follows the provisions of ASC Topic 718. Accordingly, the measurement date for the fair value of the equity instruments issued is determined at the earlier of (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor’s performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement.
Research and Development	Research and Development
Net Loss Per Common Share	Net Loss Per Common Share
Subsequent Events	Subsequent Events

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value	The following summarizes the valuation technique for assets and liabilities measured and recorded at fair value: Total Quoted Prices in Active Markets for Identical Items Significant Other Observable Inputs Significant Unobservable Inputs Balance at December 31, 2018 Investments $ 28,200 $ 28,200 $ — $ — $ 28,200 $ 28,200 $ — $ — Balance at March 31, 2019 Investments $ 40,143 $ 40,143 $ — $ — $ 40,143 $ 40,143 $ — $ —

Property and Equipment (Tables)

Property and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	March 31, December 31, 2019 2018 Equipment $ 432,499 $ 432,499 Software 63,179 63,179 Furniture and fixtures 7,987 7,987 503,665 503,665 Accumulated depreciation (386,193 ) (376,664 ) Property and equipment, net $ 117,472 $ 127,001

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets are comprised of the following: March 31, December 31, 2019 2018 Acquired research in progress - indefinite lived $ 4,016,596 $ 4,016,596 Patents 52,045 52,045 Accumulated amortization (31,098 ) (30,447 ) Intangible assets, net $ 4,037,543 $ 4,038,194

Stockholders' Equity and Warr_2

Stockholders' Equity and Warrants (Tables)	3 Months Ended
	Mar. 31, 2019
Equity [Abstract]
Summary of Warrants Activity	The following table summarizes the status of the Company’s aggregate warrants outstanding: Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Term(Years) Balance, January 1, 2018 110,884 $ 6.60 2.87 Granted — — — Exercised — — — Expired — — — Balance, December 31, 2018 110,884 $ 6.60 1.87 Granted — — — Exercised — — — Expired — — — Balance, March 31, 2019 110,884 $ 6.60 1.62

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Share-based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	The following table summarizes the status of the Company’s aggregate stock options granted: Number of Options Weighted Average Exercise Price Weighted Average Remaining Term(Years) Total Intrinsic Value Balance, January 1, 2018 566,667 $ 2.33 6.95 Granted — — — Exercised — — — Cancelled — — — Balance, December 31, 2018 566,667 $ 2.33 5.95 Exercisable at December 31, 2018 450,000 $ 2.10 5.62 Balance, January 1, 2019 566,667 $ 2.33 5.95 Granted — — — Exercised — — — Cancelled — — — Balance, March 31, 2019 566,667 $ 2.33 5.70 $ — Exercisable at March 31, 2019 533,334 $ 2.26 5.61 $ —

Business Activity (Details)

Business Activity (Details)	3 Months Ended
	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Percentage of outstanding stock purchased during reverse merger with Fona, Inc.	75.16%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Other) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Accounting Policies [Abstract]
Asset impairment charges
Customer deposits
Valuation allowance

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Property and Equipment) (Details)	3 Months Ended
	Mar. 31, 2019
Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	3 years
Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	7 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies (Intangible Assets) (Details)	3 Months Ended
	Mar. 31, 2019
Patents [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Intangible assets useful lives	20 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies (Net Loss Per Common Share) (Details)	3 Months Ended
	Mar. 31, 2019shares
Convertible Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from earnings per share calculation	577,063
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from earnings per share calculation	566,667
Common Stock and Warrants [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive shares excluded from earnings per share calculation	110,884

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	$ 40,143	$ 28,200
Total	40,143	28,200
Quoted Prices in Active Markets for Identical Items (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments	40,143	28,200
Total	40,143	28,200
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Total
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments
Total

Property and Equipment (Details

Property and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 503,665		$ 503,665
Accumulated depreciation	(386,193)		(376,664)
Property and equipment, net	117,472		127,001
Depreciation expense	9,529	$ 9,619
Equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	432,499		432,499
Software [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	63,179		63,179
Furniture and fixtures [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 7,987		$ 7,987

Intangible Assets (Details)

Intangible Assets (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Intangible assets, accumulated amortization	$ (31,098)		$ (30,447)
Intangible assets, net	4,037,543		4,038,194
Acquired research in progress [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	4,016,596		4,016,596
Additional expected costs to complete research	147,000
Year one	2,602
Year two	2,602
Year three	2,602
Year four	2,602
Year five	2,602
After year five	7,938
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	52,045		$ 52,045
Amortization expense	$ 650	$ 650

Stockholders' Equity and Warr_3

Stockholders' Equity and Warrants (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	May 01, 2019	Dec. 31, 2018	Oct. 19, 2015
Class of Stock [Line Items]
Capital stock, authorized shares				800,000,000
Common stock, authorized shares	780,000,000		780,000,000	780,000,000
Common stock, par value	$ 0.001		$ 0.001	$ 0.001
Preferred stock, authorized shares	20,000,000		20,000,000	20,000,000
Preferred stock, par value	$ 0.001		$ 0.001	$ .001
Dividends accrued	$ 741,873
Series A-1 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, authorized shares	600,000		600,000	600,000
Preferred stock, par value	$ 0.001		$ 0.001	$ 0.001
Liquidation preference per share	$ 5.25		$ 5.25
Dividend rate	8.00%
Series A-2 Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Liquidation preference per share	$ 5.25
Dividend rate	8.00%
Series A-2 Convertible Preferred Stock [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Preferred stock, authorized shares		200,000

Stockholders' Equity and Warr_4

Stockholders' Equity and Warrants (Summary of Warrants Activity) (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Number of Warrants
Warrants outstanding at beginning of period	110,884	110,884
Granted
Exercised
Expired
Warrants outstanding at end of period	110,884	110,884	110,884
Weighted Average Exercise Price
Warrants outstanding at beginning of period	$ 6.60	$ 6.60
Granted
Exercised
Expired
Warrants outstanding at end of period	$ 6.60	$ 6.60	$ 6.60
Weighted Average Remaining Term (Years)	1 year 7 months 13 days	1 year 10 months 14 days	2 years 10 months 14 days

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Share-based Payment Arrangement [Abstract]
Number of shares reserved for issuance under 2015 Stock Incentive Plan	1,400,000
Expiration period for stock options	10 years
Compensation costs for incentive stock options	$ 17,278	$ 24,644
Stock options granted during period		0
Options granted during period exercise price
Number of shares vested during the period	83,334	83,333
Unrecognized compensation cost related to share-based compensation arrangements	$ 4,562
Unrecognized compensation cost period of recognition	2 months

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock Options Activity) (Details) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018	Dec. 31, 2017
Number of Options
Balance, beginning	566,667	566,667	566,667
Granted		0
Exercised
Cancelled
Balance, ending	566,667		566,667	566,667
Exercisable	533,334		450,000
Outstanding, intrinsic value
Exercisable, intrinsic value
Weighted Average Exercise Price
Balance, beginning	$ 2.33	$ 2.33	$ 2.33
Granted
Exercised
Cancelled
Balance, ending	2.33		2.33	$ 2.33
Exercisable	$ 2.26		$ 2.10
Outstanding, contractual term	5 years 8 months 12 days		5 years 11 months 12 days	6 years 11 months 12 days
Exercisable, contractual term	5 years 7 months 10 days		5 years 7 months 13 days

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Monthly rent payment	$ 2,378
Rent expense	7,134	$ 7,134
Total amount of grant revenue recognized to date	262,400
Total possible future royalties owed	393,600
Accrued royalties
Payments for royalties

Related Parties and Transacti_2

Related Parties and Transactions (Details) - Chief Executive Officer [Member]	Mar. 31, 2019shares
Related Party Transaction [Line Items]
Number of common stock shares outstanding owned by related party	1,932,088
Percentage of common stock shares outstanding owned by related party	29.90%

Liquidity and Going Concern (De

Liquidity and Going Concern (Details) - USD ($)	May 15, 2019	May 01, 2019	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Dec. 31, 2017	Oct. 19, 2015
Subsequent Event [Line Items]
Grants from state of Colorado			$ 250,000
Cash			7,327	$ 131,406	$ 666,844	$ 880,243
Investments			40,143	$ 28,200
Forecasted amount of cash used for operating expenses			$ 596,000
Preferred stock, authorized shares			20,000,000	20,000,000			20,000,000
Subsequent Event [Member] | Series A-2 Convertible Preferred Stock [Member]
Subsequent Event [Line Items]
Preferred stock, authorized shares		200,000
Proceeds from sale of stock	$ 490,000