Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 31, 2017 | Jan. 19, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | AUTHENTIDATE HOLDING CORP | |
Entity Central Index Key | 885,074 | |
Trading Symbol | adat | |
Current Fiscal Year End Date | --06-30 | |
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) | 7,249,370 | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2017 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2017 | Jun. 30, 2017 |
Current assets | ||
Cash and cash equivalents | $ 357,165 | $ 1,121,763 |
Restricted cash | 120,695 | |
Accounts receivable, net | 2,467,935 | 1,020,988 |
Inventory, net | 397,569 | 347,750 |
Prepaid expenses and other current assets | 38,729 | 58,711 |
Total current assets | 3,261,398 | 2,669,907 |
Property and equipment, net | 1,780,123 | 2,203,543 |
Other assets | ||
Security deposits | 10,211 | 10,211 |
Deferred tax asset | 7,357,436 | 11,848,017 |
Total assets | 12,409,168 | 16,731,678 |
Current liabilities | ||
Accounts payable | 1,269,454 | 2,177,722 |
Accrued expenses | 2,493,374 | 2,168,090 |
Accrued commissions | 855,424 | 427,627 |
Accrued dividends | 816,377 | 644,979 |
Deferred rent | 170,483 | 141,833 |
Related party notes payable | 2,545,199 | 2,545,199 |
Derivative liabilities | 185,176 | 551,040 |
Total current liabilities | 8,335,487 | 8,656,490 |
Deferred rent | 90,000 | 45,000 |
Total liabilities | 8,425,487 | 8,701,490 |
Commitments and contingencies | ||
Shareholders' equity | ||
Preferred stock, $.10 par value; 5,000,000 shares authorized, Series D, 605,000 shares and Series E 25,000 shares issued and outstanding at December 31, 2017 , and June 30, 2017, respectively | 63,000 | 63,000 |
Common stock, $.001 par value; 190,000,000 shares authorized, 7,249,370 shares issued and outstanding on December 31, 2017, and June 30, 2017 , respectively | 20,508 | 8,938 |
Additional paid-in capital | 44,530,041 | 44,307,479 |
(Accumulated deficit) | (40,629,868) | (36,349,229) |
Total shareholders' equity | 3,983,681 | 8,030,188 |
Total liabilities and shareholders' equity | $ 12,409,168 | $ 16,731,678 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Dec. 31, 2017 | Jun. 30, 2017 |
Preferred stock, par value (in dollars per share) | $ 0.10 | $ 0.10 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 190,000,000 | 190,000,000 |
Common stock, shares issued (in shares) | 7,249,370 | 7,249,370 |
Common stock, shares outstanding (in shares) | 7,249,370 | 7,249,370 |
Series D Convertible Preferred Stock [Member] | ||
Preferred stock, shares issued (in shares) | 605,000 | 605,000 |
Preferred stock, shares outstanding (in shares) | 605,000 | 605,000 |
Series E Convertible Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 30 | $ 30 |
Preferred stock, shares issued (in shares) | 25,000 | 25,000 |
Preferred stock, shares outstanding (in shares) | 25,000 | 25,000 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Net revenues | ||||
Fees for services | $ 5,278,042 | $ 4,565,435 | $ 8,388,424 | $ 10,256,731 |
Hosted software services | 248,530 | 311,671 | 491,550 | 658,605 |
Telehealth products and services | 4,650 | 9,707 | 9,300 | 21,552 |
Total net revenues | 5,531,222 | 4,886,813 | 8,889,274 | 10,936,888 |
Operating expenses | ||||
Cost of revenues | 888,541 | 951,668 | 2,017,117 | 2,195,838 |
Write down of inventory | 0 | 237,674 | ||
Selling, general and administrative | 3,042,771 | 4,204,114 | 6,153,936 | 7,727,165 |
Share based compensation | 21,111 | 89,526 | 51,159 | 148,476 |
Depreciation and amortization | 200,837 | 394,484 | 423,421 | 803,147 |
Total operating expenses | 4,153,261 | 5,639,792 | 8,645,633 | 10,874,626 |
Operating income (loss) | 1,377,961 | (752,979) | 243,641 | 62,262 |
Other (expense) income | ||||
Interest | (37,013) | (92,175) | (64,362) | (370,768) |
Change in fair value of derivative liabilities | 292,573 | 621,820 | 365,864 | 135,601 |
Other | (124,149) | (162,294) | ||
Total other (expense) income | 131,411 | 529,645 | 139,208 | (235,167) |
Income (loss) before provision for income taxes | 1,509,372 | (223,334) | 382,849 | (172,905) |
Provision for income taxes | (4,493,239) | (45,404) | (4,493,239) | |
Net loss | (2,983,867) | (268,738) | (4,110,390) | (172,905) |
Less: preferred dividends | (85,699) | (100,624) | (170,249) | (201,248) |
Net loss available to common shareholders | $ (3,069,566) | $ (369,362) | $ (4,280,639) | $ (374,153) |
Loss per share: | ||||
Basic loss per common share (in dollars per share) | $ (0.42) | $ (0.06) | $ (0.59) | $ (0.06) |
Diluted loss per common share (in dollars per share) | $ (0.42) | $ (0.06) | $ (0.59) | $ (0.06) |
Weighted average number of common shares outstanding: | ||||
Basic (in shares) | 7,249,370 | 6,015,053 | 7,249,370 | 5,893,655 |
Diluted (in shares) | 7,249,370 | 6,015,053 | 7,249,370 | 5,893,655 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Cash flows from operating activities | ||
Net loss | $ (4,110,390) | $ (172,905) |
Adjustments to reconcile net income (loss) to net cash used by operating activities | ||
Impairment of deferred tax asset | 4,490,581 | |
Change in fair value of derivative liabilities | (365,864) | (135,601) |
Write down of inventory | 0 | 237,674 |
Depreciation and amortization | 423,421 | 803,147 |
Deferred taxes | ||
Share based compensation | 51,159 | 148,476 |
Changes in assets and liabilities | ||
Restricted cash | 120,695 | |
Accounts receivable | (1,446,948) | 1,067,894 |
Inventory | (49,819) | (303,637) |
Prepaid expenses and other current assets | 19,982 | 49,696 |
Accounts payable | (650,497) | (1,130,623) |
Accrued expenses | 325,285 | (465,416) |
Accrued commissions | 427,797 | (72,546) |
Deferred rent | (4,874) | |
Net cash provided (used) by operating activities | (764,598) | 21,285 |
Cash flows from investing activities | ||
Purchases of property and equipment | (22,103) | |
Disposal of fixed assets | ||
Net cash (used in) investing activities | (22,103) | |
Cash flows from financing activities | ||
Repayments of notes payable | (1,057,811) | |
Net cash (used in) financing activities | (1,057,811) | |
Net decrease in cash | (764,598) | (1,058,629) |
Cash beginning of period | 1,121,763 | 1,414,706 |
Cash end of period | 357,165 | 356,077 |
Supplemental disclosure of cash paid for: | ||
Interest paid | 99,005 | 227,758 |
Income taxes paid | ||
Non-cash investing and financing activities | ||
Non-cash preferred dividends | 137,249 | 201,248 |
Earn-out common dividends paid in stock | $ 5,472,598 |
Note 1 - Description of Busines
Note 1 - Description of Business, Reverse Merger and Liquidity | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Description of Business , Reverse Merger and Liquidity Authentidate Holding Corp. ("AHC") and its subsidiaries primarily provides an array of clinical testing services to health care professionals through its wholly-owned subsidiary, Peachstate Health Management, LLC d/b/a AEON Clinical Laboratories ("AEON"). AHC also continues to provide its legacy secure web-based revenue cycle management applications and telehealth products and services that enable healthcare organizations to increase revenues, improve productivity, reduce costs, coordinate care for patients and enhance related administrative and clinical workflows and compliance with regulatory requirements. Web-based services are delivered as Software as a Service (SaaS) to customers interfacing seamlessly with billing, information and records management systems. Reverse Merger On January 27, 2016, ed January 26, 2016, May 31, 2016 December 15, 2016 ( January 27, 2016. four Under accounting principles generally accepted in the United States of America (" U.S. GAAP"), the merger is treated as a "reverse merger" under the purchase method of accounting. The condensed consolidated financial statements reflect the historical results of AEON prior to the completion of the reverse merger since it was determined to be the accounting acquirer, and do not Going Concern As of the filing date of this Quarterly Report on Form 10 $2,545,199 March 20, 2018 $210,000 June 15, 2018 no twelve no not The Company 's capital requirements have been and will continue to be significant and it is expending significant amounts of capital to develop, promote and market its services. The Company's available cash and cash equivalents as of December 31, 2017 $357,000 $5,074 ,000. Nevertheless, our available cash and cash equivalents as of the filing date of this Quarterly Report on Form 10 $1,057,000 $1,300,000. The Company does not We are exploring potential transactions to improve our capital position to ensure we can meet our financing and working capital requirements. We would expect to raise additional funds through obtaining a credit facility from an institutional lender or undertaking private debt financings. Raising additional funds by issuing equity or convertible debt securities may may may may may may may not third no Management has concluded that due to the conditions described above, there is substantial doubt about the entity 's ability to continue as a going concern. We have evaluated the significance of the conditions in relation to our ability to meet our obligations and believe that our current cash balance will provide sufficient capital to continue operations through fiscal 2018. no no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Basis of Presentation The Company 's condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and following the requirements of the Securities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These interim financial statements have been prepared on the same basis as the Company's annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the Company's financial information. These interim results are not June 30, 2018 June 30, 2017, 2017 10 The balance sheet as of June 30, 2017 not l statements. Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. Use of Esti mates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most sensitive accounting estimates affecting the financial statements are revenue recognition, the allowance for doubtful accounts, depreciation of long-lived assets, fair value of intangible assets and goodwill, amortization of intangible assets, income taxes and associated deferrals and valuation allowances, commitments and contingencies and measurement of derivative liabilities. Accounts R eceivable, Net Accounts receivable represent customer obligations due under normal trade terms, net of allowance for doubtful accounts. The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience and other currently available evidence. The allowance for doubtful accounts was approximately $887,000 $923,000 December 31, 2017 June 30, 2017, Fair Value Measurements The Company follows ASC 820 10, "Fair Value Measurements and Disclosures" 820 10 820 10 three three 820 10 Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, Level 3 Pricing inputs that are generally unobservable input and not The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lower priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one 3. Revenue Recognition The Company provides laboratory testing services, web-based hosted so ftware services, telehealth products and post contract customer support services. In accordance with Financial Accounting Standards Board (" FASB") Accounting Standards Codification ("ASC") ASC- 605 "Revenue Recognition" third Revenue from laboratory testing services are recognized at the time test results are delivered, net of estimat ed contractual allowances. Third-party reimbursement revenue is estimated based on cash received over a 12 Revenue for hosted software services, telehealth products, and customer support services are recognized when persuasive evidence of an arrangement exists, delivery has occurred, the selling price is fixed and collectability is reasonably assured. Multiple-element arrangements are assessed to determine whether they can be separated into more than one one not Concentrations of Credit Risk The Company maintains its cash in bank deposit acco unts which, at times, may December 31, 2017 June 30, 2017, $119,000 $871,000 not Income Taxes The Company accounts for income taxes under an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than enactments of changes in tax laws or rates. The effect on deferred tax assets and liabilities of a change in tax rates will be recognized as income or expense in the period that includes the enactment date. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. Management considers the likelihood of changes by taxing authorities in its filed income tax returns and recognizes a liability for or discloses potential changes that management believes are more likely than not not Reclassification Certain prior year amounts have been reclassified to conform to the current year presentation. Recent Accounting Pronouncements In May 2014, 2014 09, "Revenue from Contracts with Customers" 606 2014 09" 2014 09, December 15, 2017, December 15, 2016. not July 1, 2018. In August 2014, No. 2014 15, "Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern". one one December 15, 2016 2014 15 10 In July 2015, 2015 11, "Inventory Topic 330 Simplifying the Measurement of Inventory" 2015 11 first 2015 11 December 15, 2016. no not In January 2016, issued ASU 2016 01, "Financial Instruments (Subtopic 825 10 Recognition and Measurements of Financial Assets and Financial Liabilities." 2016 01 may not first 2018. no not In February 2016, d ASU No. 2016 02, "Leases" 12 December 15, 2018, 2016 02 July 1, 2019. In March 2016, No. 2016 09, "Compensation-Stock Compensation (Topic 718 Payment Accounting" December 15, 2016, not not In August 2016, No. 2016 15, "Statement of Cash Flows (Topic 230 July 1, 2018 July 1, 2018. In November 2016, 2016 18, "Restricted Cash" first 2018 July 1, 2018. In May 2017, 2017 09, "Compensation-Stock Compensation (Topic 718 December 15, 2017. July 1, 2018. In July 2017, 2017 11, "Earnings Per Share (Topic 260 480 815 , no no 260 July 1, 2019. In December 2017, unting Bulletin No. 118, 740, Income Taxes December 22, 2017, No. 118 December 22, 2017. No. 118 10 December 31, 2017 |
Note 3 - Restatement and Correc
Note 3 - Restatement and Correction of Error | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Accounting Changes and Error Corrections [Text Block] | 3. Restatement and Correction of Error In the fourth June 30, 2017, December 31, 2016 10 June 30, 2017. not The following adjustments were made to the December 31, 2016 AUTHENTIDATE HOLDING CORP CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED) As Originally As Originally Reported As Restated Reported As Restated Three Months Three Months Six Months Six Months Ended Ended Ended Ended Dec 31, Dec 31, Dec 31, Dec 31, 2016 Adj 2016 2016 Adj 2016 Net revenues Fees for services $ 4,565,435 $ - $ 4,565,435 $ 10,256,731 $ - $ 10,256,731 Hosted software services 311,671 - 311,671 658,605 - 658,605 Telehealth services 9,707 - 9,707 21,552 - 21,552 Total net revenues 4,886,813 - 4,886,813 10,936,888 - 10,936,888 Operating expenses Cost of revenues 1,128,218 (176,550 ) 951,668 2,295,214 (337,050 ) 1,958,164 Write-down of inventory - - - 237,674 - 237,674 Selling, general and administrative 4,293,640 - 4,293,640 7,875,641 - 7,875,641 Depreciation and amortization 394,484 - 394,484 803,147 - 803,147 Total operating expenses 5,816,342 (176,550 ) 5,639,792 11,211,676 (337,050 ) 10,874,626 Operating income (loss) (929,529 ) 176,550 (752,979 ) (274,788 ) 337,050 62,262 Other (expense) income, net 529,645 - 529,645 (235,167 ) - (235,167 ) Income (loss) before provision for income taxes (399,884 ) 176,550 (223,334 ) (509,955 ) 337,050 (172,905 ) Income tax provision 45,404 - (45,404 ) - - - Net loss $ (445,288 ) $ 176,550 $ (268,738 ) $ (509,955 ) $ 337,050 $ (172,905 ) less: preferred dividends $ (100,624 ) $ - $ (100,624 ) $ (201,248 ) $ - $ (201,248 ) Net loss available to common shareholders $ (545,912 ) $ 176,550 $ (369,362 ) $ (711,203 ) $ 337,050 $ (374,153 ) Loss per share: Basic loss per common share $ (0.09 ) $ 0.03 $ (0.06 ) $ (0.12 ) $ 0.06 $ (0.06 ) Diluted loss per common share $ (0.09 ) $ 0.03 $ (0.06 ) $ (0.12 ) $ 0.06 $ (0.06 ) The followi ng adjustments were made to the December 31, 2016 AUTHENTIDATE HOLDING CORP. CONSOLIDATED STATEMENT OF CASH FLOW As Originally Reported As Restated Six Months Six Months Ended Ended Dec 31, Dec 31, 2016 Adj 2016 Cash Flows from Operating Activities Net Loss $ (509,955 ) $ 337,050 $ (172,905 ) Adjustments to reconcile net loss to cash provided by operating activities Write off of inventory 237,674 - 237,674 Loss on debt extinguishment - - - Change in fair value of derivative liabilities (135,601 ) - (135,601 ) Deferred taxes - - - Depreciation and amortization 803,147 - 803,147 Share based compensation 148,476 - 148,476 Deferred rent (4,874 ) - (4,874 ) Changes in assets and liabilities Accounts receivable 1,067,854 - 1,067,854 Inventory 33,413 (337,050 ) (303,637 ) Prepaid expenses and other current assets 49,696 - 49,696 Accounts payable (1,130,583 ) - (1,130,583 ) Accrued expenses (465,416 ) - (465,416 ) Accrued commissions (72,546 ) - (72,546 ) Deferred rent - - - Net cash provided by operating activities 21,285 - 21,285 Cash flows from investing activities Purchases of property and equipment (22,103 ) - (22,103 ) Net cash used in investing activities (22,103 ) - (22,103 ) Cash flows from financing activities Proceeds from note payable - related party - - - Repayment of notes payable (1,057,811 ) - (1,057,811 ) Net cash used in financing activities (1,057,811 ) - (1,057,811 ) Net decrease in cash and cash equivalents (1,058,629 ) - (1,058,629 ) Cash and cash equivalents beginning of year 1,414,706 - 1,414,706 Cash and cash equivalents end of year $ 356,077 $ - $ 356,077 |
Note 4 - Inventory
Note 4 - Inventory | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 4 . Inventory Inventory consists of the following: December 31, June 30, 2017 2017 Laboratory testing supplies $ 397,569 $ 347,750 Total inventory $ 397,569 $ 347,750 Purchased components of approximately $31,000 $207,000 six December 31, 2016 No six December 31, 2017. |
Note 5 - Income Taxes
Note 5 - Income Taxes | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 5 . Income Taxes The Company 's effective tax rate for the three six December 31, 2017 179.5% 326.4%, $4,493,000, three six December 31, 2017, 35% On December 22, 2017, 2017 740, 740" three December 31, 2017, $4.5 At December 31, 2017, $7,357,000. $31,291,000 not |
Note 6 - Related Party Notes Pa
Note 6 - Related Party Notes Payable | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Short-term Debt [Text Block] | 6 . Related Party Notes Payable December 31, 2017 June 30, 2017 Note Interest rate Note Interest rate Payable per annum Payable per annum Secured Secured $ 1,056,875 5% interest paid annually $ 1,056,875 5% interest paid annually 641,294 5% interest paid annually 641,294 5% interest paid annually 255,417 5% interest paid annually 255,417 5% interest paid annually 591,613 5% interest paid annually 591,613 5% interest paid annually Total $ 2,545,199 Total $ 2,545,199 Secured At June 30, 2016, $950,000. $2.25 December 17, 2016. 422,222 85% 9% per annum with interest payable upon maturity or on any earlier redemption date. As described in greater detail below under the caption "Exchange Transaction", on March 20, 2017, $1,056,875. twelve 5% $2.03 At June 30, 2016, $320,000. April 15, 2016 10% first $4.86 September 1, 2016, December 1, 2016 5% $3.00 106,667 March 20, 2017, $200,000 $641,294. twelve 5% $2.03 Unsecured At June 30, 2016, $200,000, 20% per annum, payable in arrears, and was due upon the earlier of (i) August 26, 2016, 90 $5,000,000 September 1, 2016, December 1, 2016 90 $3.00 173,333 March 2017, $320,000 $641,294. twelve 5% 's assets and is convertible at the initial conversion price of $2.03 At June 30, 2016, $450,000 not 20% per annum, payable in arrears, and was due upon the earlier of (i) October 28, 2016, 30 90 $5,000,000 March 20, 2017, $591,613. twelve 5% $2.03 Effective as of January 31, 2017, $250,000 's Chief Executive Officer and Chairman of the Board. To evidence the loan, the Company issued Mr. Roshan a promissory note (the "Note") in the aggregate principal amount of $250,000. not 30 12% Exchange Transaction On March 20, 2017, $2,170,000 outstanding promissory notes (the "Original Notes"), which were due and payable, pursuant to which the Company agreed to issue the holders of such notes, in consideration of the cancellation of the Original Notes, new promissory notes in the aggregate principal amount of $2,545,199, $2.03 1,253,792 85% not $328,422. one $950,000 $2.25 $520,000 $3.00 $700,000 During the year ended June 30, 2017, the Company also agreed with the holder of all outstanding shares of Series B Convertible Preferred Stock (the "Series B Preferred Stock") to exchange all of its outstanding shares of Series B Preferred Stock for shares of a new series of convertible preferred stock designated as Series E Convertible Preferred Stock (the "Series E Preferred Stock"). Accordingly, on March 20, 2017, 25,000 $30.00 187,500 $4.00 4.99% may not 9.99% The New Notes bear interest at the rate of 5% redemption date. Beginning one 110% may 110% Loss on Extinguishment of Debt In accordance with ASC 470 50, Debt - Modifications and Extinguishments $258,037 2017. $328,422 $50,000 $120,385. No 2018. |
Note 7 - Equity
Note 7 - Equity | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 7 . Equity Preferred Stock As of December 31, 2017, 25,000 187,500 $4.00 not $30.00 one 5% December 31, 2017, $29,000 . As of December 31, 2017, 605,000 619,154 $9.77139 may not $10.00 June 2016. 5% December 31, 2017, $787,000 The Company 's preferred stock takes precedence over Common Stock but ranks below debt in the event of liquidation. In addition, the Series D Convertible Preferred Stock ranks above the Series E Convertible Preferred Stock. Earnings per Share FASB ASC Topic 260, Earnings per Share three six December 31, 2017, Three Months Ended Six Months Ended December 31, December 31, 2017 2016 2017 2016 Basic earnings (loss) per share Net loss $ (2,983,867 ) $ (268,738 ) $ (4,110,390 ) $ (172,905 ) Preferred stock dividends (85,699 ) (100,624 ) (170,249 ) (201,248 ) Net loss available to common shareholders after preferred stock dividends $ (3,069,566 ) $ (369,362 ) $ (4,280,639 ) $ (374,153 ) Weighted average shares used in the computation of basic earning per share 7,249,370 6,015,053 7,249,370 5,893,655 Loss per share - basic $ (0.42 ) $ (0.06 ) $ (0.59 ) $ (0.06 ) Dilutive earnings (loss) per share Loss available to common shareholders $ (3,069,566 ) $ (369,362 ) $ (4,280,639 ) $ (374,153 ) Weighted average shares used in the computation of diluted earnings per share 7,249,370 6,015,053 7,249,370 5,893,655 Dilutive effect of options, warrants, convertible debt and convertible preferred stock - - - - Shares used in the computation of diluted earnings (loss) per share 7,249,370 6,015,053 7,249,370 5,893,655 Loss per share - diluted $ (0.42 ) $ (0.06 ) $ (0.59 ) $ (0.06 ) Anti-Dilutive Options Excluded 1,253,793 5,354,203 1,253,793 5,354,203 Common Stock Warrants A schedule of common stock warrant activity for the six December 31, 2017 Warrant Activity Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding June 30, 2017 4,150,535 $ 4.67 3.87 $ 42,582 Issued - Expired (25,000 ) $ 12.06 - Outstanding December 31, 2017 4,125,535 $ 4.62 2.89 $ - Exercisable, December 31, 2017 4,069,979 $ 4.18 2.79 $ - |
Note 8 - Share-based Compensati
Note 8 - Share-based Compensation | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 8 . Share-Based Compensation Stock option activity under the Company 's stock option plans for employees and non-executive directors for the six December 31, 2017 Employee Option Activity Number of Options Weighted Average Exercise Price Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding June 30, 2017 226,902 9.04 6.34 $ - Granted 50,000 2.00 9.70 - Expired/Forfeited (11,556 ) 23.40 23.40 Outstanding December 31, 2017 265,346 7.08 7.04 $ - Exercisable December 31, 2017 143,917 11.50 4.94 $ - Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Non-Executive Option Activity Options Price Life (Years) Value Outstanding June 30, 2017 602,311 3.57 6.11 $ - Granted 45,555 1.59 9.74 - Expired/forfeited (35,901 ) 4.01 - - Outstanding and exercisable December 31, 2017 611,965 3.40 7.35 $ - No 's non-employee directors as of December 31, 2017 December 31, 2017. Restricted stock unit activity under the Company's restricted stock unit plans for employees and non-executive directors for the six December 31, 2017 Number of RSUs Weighted Average Grant Date Fair Value Outstanding June 30, 2017 411,429 $ 1.75 Granted 120,000 0.74 Expired/Forfeited - Outstanding December 31, 2017 531,429 $ 1.54 |
Note 9 - Fair Value Measurement
Note 9 - Fair Value Measurements and Other Financial Instruments | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 9 . Fair Value Measurements and Other Financial Instruments The carrying amounts of the Company 's financial assets and liabilities, such as cash, accounts receivable, inventory, prepaid expenses, and other current assets, accounts payable and accrued expenses approximate their fair values because of the short maturity of these instruments. I n connection with the issuance of a convertible promissory note as discussed in Note 6, The Company 's Level 3 2011 2015. three September 30, 2016 2017 The Company utilized the following assumptions in valuing the derivative conversion features: Exercise Price $2.03 - $2.07 Risk free interest rate 1.38% - 2.21% Expected volatility 100% - 160% Remaining Term (years) 0.22 - 5.57 Fair Value of Financial Assets and Liabilities Measured on a Recurring Basis The fair value of AHC financial instruments, using the fair value hierarchy under U.S. GAAP detailed in "Fair Value Measurements" in Note 2, The Company uses Level 3 The following tables provide a summary of the changes in fair value, including net transfers in and/or out, of all financial assets/ (liabilities) measured at the fair value on a recurring basis using significant unobservable inputs during the six December 31, 2017. Convertible Warrants Notes Total Balance - June 30, 2017 $ 435,036 $ 116,004 $ 551,040 Change in fair value of derivative liabilities (254,553 ) (111,311 ) (365,864 ) Balance - December 31, 2017 $ 180,483 $ 4,693 $ 185,176 Fair Value Level 1 Level 2 Level 3 June 30, 2017 derivative liabilities $ 551,040 $ - $ - $ 551,040 December 31, 2017 derivative liabilities $ 185,176 $ - $ - $ 185,176 Derivative Instruments For the three six December 31, 2017 2016, $293,000 $366,000, $622,000 $136,000 |
Note 10 - Commitments and Conti
Note 10 - Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 10 . Commitments and Contingencies A complaint was filed by a former independent contractor in the State of Louisiana who was involved in the sales and marketing of the Company's products and services. The caption of the case is Medlogic, LLC and Malena F. Badon v. Peachstate Health Management, LLC., Pyarali Roy, and Universal Billing Systems, LLC not not Regarding the termination of the Company 's employment relationship with certain executives, including the former Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") of AHC, the Company has been reviewing its severance obligations to them and the vesting of other post-termination provisions. The Company believes that it has accrued all related severance costs as of December 31, 2017 The former CEO of AHC commenced arbitration proceedings against AHC before the American Arbitration Association ("AAA"). A demand for arbitration was filed with the AAA on or about June 22, 2016 'Connell Benjamin, requesting payment of severance compensation of $341,620 October 30, 2017, no The Company is a defendant in an action captioned Cogmedix, Inc. v. Authentidate Holding Corp. No. 1685CV01318B. September 6, 2016 $227,061, December 6, 2013. not On August 24, 2017, 38,321 Authentidate Holding Corp. and Peachstate Health Management, LLC d/b/a Aeon Clinical Laboratories v. Richard G. Hersperger, No. 2017 1686 December 2017, third $15,000 On May 3, 2017, 's compliance with applicable Federal Standards for Privacy of Individually Identifiable Health Information and/or Security Standards for the Protection of Electronic Protected Health Information. The OCR is the division of HHS charged with enforcing the Health Insurance Portability and Accountability Act of 1996, May 23, 2017 may, not The Company is the plaintiff in a case captioned Peachstate Health Management, LLC d/b/a Aeon Clinical Laboratories v. Radius Foundation, Inc. and William Bramlett, Ph.D. , June 13, 2017 October 10, 2017, $116,650. The Company is the plaintiff in a case captioned Peachstate Health Management, LLC d/b/a Aeon Clinical Laboratories v. Trimana, LLC d/b/a Via Medical Center April 29, 2016 October 11, 2017, November 10, 2017. No $104,442 The Company , along with its chief executive officer and certain unnamed persons, are defendants in a case captioned Carlotta Miraflor v. Peachstate Health Management, LLC d/b/a Aeon Global Health, et al. October 4, 2016 January 3, 2018 not The plaintiff was an independent contractor which provided marketing services to the Company pursuant to a services agreement. The complaint alleges harassment, retaliation, wrongful termination, assault, and other claims. The lawsuit was preceded by a Dismissal and Notice of Rights by the U.S. Equal Employment Opportunity Commission in July 2017 $75,000 The Company is also subject to claims and litigation arising in the ordinary course of business. Management considers that any liability from any reasonably foreseeable disposition of such claims and litigation, individually or in the aggregate, would not The Company has entered into various agreements by which it may may may third not Historically, the Company has not December 31, 2017, not |
Note 11 - Related Party Transac
Note 11 - Related Party Transactions | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 11 . Related Party Transactions Except as disclosed herein, the Company has not 5% July 1, 2016. AEON leases its facilities from Centennial Properties of Georgia, LLC under a lease agreement commencing April 2014, January 20, 2016. 12 March 2026. $46,500 $60,000. first three six December 31, 2017 2016 $144,000 $288,000, $140,000 $279,000, The Company holds certain related part y notes payable with shareholders and affiliates of board members of the Company, as detailed in Note 6. $32,000 $64,000, $92,000 $203,000 three six December 31, 2017 2016, Effective as of January 31, 2017, $250,000 's Chief Executive Officer and Chairman of the Board. To evidence the loan, the Company issued Mr. Roshan a promissory note (the "Note") in the aggregate principal amount of $250,000. not 30 12% 6 AHC entered into a lease agreement with Hanif A. ("Sonny") Roshan (the "landlord") for a residential premises at 5455 30517 one January 1, 2017 December 31, 2017 $7,500 first 3% Rent expense was $22,500 $45,000 three six December 31, 2017. |
Note 12 - Segment Information
Note 12 - Segment Information | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 1 2 . Segment Information The Compa ny is operated as two Selected financial information related to the Company's segments is presented below: Authentidate AEON Total Three Months ended December 31, 2017 Net revenues $ 253,180 $ 5,278,042 $ 5,531,222 Cost of revenues 64,978 823,564 888,541 Operating expenses 335,067 3,818,194 4,153,261 Operating loss (81,887 ) 1,459,848 1,377,961 Six Months ended December 31, 2017 Net revenues $ 500,850 $ 8,388,424 $ 8,889,274 Cost of revenues 120,106 1,897,012 2,017,117 Operating expenses 1,208,452 7,437,181 8,645,633 Operating loss (707,602 ) 951,243 243,641 Three Months Ended December 31, 2016 Net revenues $ 321,378 $ 4,565,435 $ 4,886,813 Cost of revenues 55,325 896,343 951,668 Operating expenses 1,320,216 4,319,576 5,639,792 Operating loss (160,596 ) (592,383 ) (752,979 ) Six Months ended December 31, 2016 Net revenues $ 680,157 $ 10,256,731 $ 10,936,888 Cost of revenues 356,783 1,839,055 2,195,838 Operating expenses 2,764,971 8,109,655 10,874,626 Operating income (loss) (143,361 ) 205,623 62,262 December 31, 2017 Total assets $ 7,474,180 $ 4,934,988.74 $ 12,409,168 June 30, 2017 Total assets $ 11,772,874 $ 4,958,804 $ 16,731,678 |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 6 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. Subsequent Events On January 4, 2018, December 31, 2020; may 30 one $40,000 $25,000 February 1, 2018, $40,000 January 15, 2019 January 15, 2020. 280,000 RSUs 2011 Plan no On January 23, 2018 , the Company accepted a short-term loan in the aggregate principal amount of $500,000 $500,000. not April 23, 2018 5% may |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The Company 's condensed consolidated financial statements have been prepared in accordance with U.S. GAAP and following the requirements of the Securities and Exchange Commission ("SEC") for interim reporting. As permitted under those rules, certain footnotes or other financial information that are normally required by U.S. GAAP can be condensed or omitted. These interim financial statements have been prepared on the same basis as the Company's annual financial statements and, in the opinion of management, reflect all adjustments, consisting only of normal recurring adjustments, which are necessary for a fair statement of the Company's financial information. These interim results are not June 30, 2018 June 30, 2017, 2017 10 The balance sheet as of June 30, 2017 not l statements. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. Intercompany accounts and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Esti mates The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The most sensitive accounting estimates affecting the financial statements are revenue recognition, the allowance for doubtful accounts, depreciation of long-lived assets, fair value of intangible assets and goodwill, amortization of intangible assets, income taxes and associated deferrals and valuation allowances, commitments and contingencies and measurement of derivative liabilities. |
Trade and Other Accounts Receivable, Policy [Policy Text Block] | Accounts R eceivable, Net Accounts receivable represent customer obligations due under normal trade terms, net of allowance for doubtful accounts. The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience and other currently available evidence. The allowance for doubtful accounts was approximately $887,000 $923,000 December 31, 2017 June 30, 2017, |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements The Company follows ASC 820 10, "Fair Value Measurements and Disclosures" 820 10 820 10 three three 820 10 Level 1 Quoted market prices available in active markets for identical assets or liabilities as of the reporting date. Level 2 Pricing inputs other than quoted prices in active markets included in Level 1, Level 3 Pricing inputs that are generally unobservable input and not The fair value hierarchy gives the highest priority to quoted prices (unadjusted) in active markets for identical assets or liabilities and the lower priority to unobservable inputs. If the inputs used to measure the financial assets and liabilities fall within more than one 3. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition The Company provides laboratory testing services, web-based hosted so ftware services, telehealth products and post contract customer support services. In accordance with Financial Accounting Standards Board (" FASB") Accounting Standards Codification ("ASC") ASC- 605 "Revenue Recognition" third Revenue from laboratory testing services are recognized at the time test results are delivered, net of estimat ed contractual allowances. Third-party reimbursement revenue is estimated based on cash received over a 12 Revenue for hosted software services, telehealth products, and customer support services are recognized when persuasive evidence of an arrangement exists, delivery has occurred, the selling price is fixed and collectability is reasonably assured. Multiple-element arrangements are assessed to determine whether they can be separated into more than one one not |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentrations of Credit Risk The Company maintains its cash in bank deposit acco unts which, at times, may December 31, 2017 June 30, 2017, $119,000 $871,000 not |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes under an asset and liability approach that requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in the Company's financial statements or tax returns. In estimating future tax consequences, the Company generally considers all expected future events other than enactments of changes in tax laws or rates. The effect on deferred tax assets and liabilities of a change in tax rates will be recognized as income or expense in the period that includes the enactment date. A valuation allowance is established when necessary to reduce deferred tax assets to the amount expected to be realized. Management considers the likelihood of changes by taxing authorities in its filed income tax returns and recognizes a liability for or discloses potential changes that management believes are more likely than not not |
Reclassification, Policy [Policy Text Block] | Reclassification Certain prior year amounts have been reclassified to conform to the current year presentation. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In May 2014, 2014 09, "Revenue from Contracts with Customers" 606 2014 09" 2014 09, December 15, 2017, December 15, 2016. not July 1, 2018. In August 2014, No. 2014 15, "Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern". one one December 15, 2016 2014 15 10 In July 2015, 2015 11, "Inventory Topic 330 Simplifying the Measurement of Inventory" 2015 11 first 2015 11 December 15, 2016. no not In January 2016, issued ASU 2016 01, "Financial Instruments (Subtopic 825 10 Recognition and Measurements of Financial Assets and Financial Liabilities." 2016 01 may not first 2018. no not In February 2016, d ASU No. 2016 02, "Leases" 12 December 15, 2018, 2016 02 July 1, 2019. In March 2016, No. 2016 09, "Compensation-Stock Compensation (Topic 718 Payment Accounting" December 15, 2016, not not In August 2016, No. 2016 15, "Statement of Cash Flows (Topic 230 July 1, 2018 July 1, 2018. In November 2016, 2016 18, "Restricted Cash" first 2018 July 1, 2018. In May 2017, 2017 09, "Compensation-Stock Compensation (Topic 718 December 15, 2017. July 1, 2018. In July 2017, 2017 11, "Earnings Per Share (Topic 260 480 815 , no no 260 July 1, 2019. In December 2017, unting Bulletin No. 118, 740, Income Taxes December 22, 2017, No. 118 December 22, 2017. No. 118 10 December 31, 2017 |
Note 3 - Restatement and Corr20
Note 3 - Restatement and Correction of Error (Tables) | 6 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Error Corrections and Prior Period Adjustments [Table Text Block] | As Originally As Originally Reported As Restated Reported As Restated Three Months Three Months Six Months Six Months Ended Ended Ended Ended Dec 31, Dec 31, Dec 31, Dec 31, 2016 Adj 2016 2016 Adj 2016 Net revenues Fees for services $ 4,565,435 $ - $ 4,565,435 $ 10,256,731 $ - $ 10,256,731 Hosted software services 311,671 - 311,671 658,605 - 658,605 Telehealth services 9,707 - 9,707 21,552 - 21,552 Total net revenues 4,886,813 - 4,886,813 10,936,888 - 10,936,888 Operating expenses Cost of revenues 1,128,218 (176,550 ) 951,668 2,295,214 (337,050 ) 1,958,164 Write-down of inventory - - - 237,674 - 237,674 Selling, general and administrative 4,293,640 - 4,293,640 7,875,641 - 7,875,641 Depreciation and amortization 394,484 - 394,484 803,147 - 803,147 Total operating expenses 5,816,342 (176,550 ) 5,639,792 11,211,676 (337,050 ) 10,874,626 Operating income (loss) (929,529 ) 176,550 (752,979 ) (274,788 ) 337,050 62,262 Other (expense) income, net 529,645 - 529,645 (235,167 ) - (235,167 ) Income (loss) before provision for income taxes (399,884 ) 176,550 (223,334 ) (509,955 ) 337,050 (172,905 ) Income tax provision 45,404 - (45,404 ) - - - Net loss $ (445,288 ) $ 176,550 $ (268,738 ) $ (509,955 ) $ 337,050 $ (172,905 ) less: preferred dividends $ (100,624 ) $ - $ (100,624 ) $ (201,248 ) $ - $ (201,248 ) Net loss available to common shareholders $ (545,912 ) $ 176,550 $ (369,362 ) $ (711,203 ) $ 337,050 $ (374,153 ) Loss per share: Basic loss per common share $ (0.09 ) $ 0.03 $ (0.06 ) $ (0.12 ) $ 0.06 $ (0.06 ) Diluted loss per common share $ (0.09 ) $ 0.03 $ (0.06 ) $ (0.12 ) $ 0.06 $ (0.06 ) As Originally Reported As Restated Six Months Six Months Ended Ended Dec 31, Dec 31, 2016 Adj 2016 Cash Flows from Operating Activities Net Loss $ (509,955 ) $ 337,050 $ (172,905 ) Adjustments to reconcile net loss to cash provided by operating activities Write off of inventory 237,674 - 237,674 Loss on debt extinguishment - - - Change in fair value of derivative liabilities (135,601 ) - (135,601 ) Deferred taxes - - - Depreciation and amortization 803,147 - 803,147 Share based compensation 148,476 - 148,476 Deferred rent (4,874 ) - (4,874 ) Changes in assets and liabilities Accounts receivable 1,067,854 - 1,067,854 Inventory 33,413 (337,050 ) (303,637 ) Prepaid expenses and other current assets 49,696 - 49,696 Accounts payable (1,130,583 ) - (1,130,583 ) Accrued expenses (465,416 ) - (465,416 ) Accrued commissions (72,546 ) - (72,546 ) Deferred rent - - - Net cash provided by operating activities 21,285 - 21,285 Cash flows from investing activities Purchases of property and equipment (22,103 ) - (22,103 ) Net cash used in investing activities (22,103 ) - (22,103 ) Cash flows from financing activities Proceeds from note payable - related party - - - Repayment of notes payable (1,057,811 ) - (1,057,811 ) Net cash used in financing activities (1,057,811 ) - (1,057,811 ) Net decrease in cash and cash equivalents (1,058,629 ) - (1,058,629 ) Cash and cash equivalents beginning of year 1,414,706 - 1,414,706 Cash and cash equivalents end of year $ 356,077 $ - $ 356,077 |
Note 4 - Inventory (Tables)
Note 4 - Inventory (Tables) | 6 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, June 30, 2017 2017 Laboratory testing supplies $ 397,569 $ 347,750 Total inventory $ 397,569 $ 347,750 |
Note 6 - Related Party Notes 22
Note 6 - Related Party Notes Payable (Tables) | 6 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | December 31, 2017 June 30, 2017 Note Interest rate Note Interest rate Payable per annum Payable per annum Secured Secured $ 1,056,875 5% interest paid annually $ 1,056,875 5% interest paid annually 641,294 5% interest paid annually 641,294 5% interest paid annually 255,417 5% interest paid annually 255,417 5% interest paid annually 591,613 5% interest paid annually 591,613 5% interest paid annually Total $ 2,545,199 Total $ 2,545,199 |
Note 7 - Equity (Tables)
Note 7 - Equity (Tables) | 6 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended December 31, December 31, 2017 2016 2017 2016 Basic earnings (loss) per share Net loss $ (2,983,867 ) $ (268,738 ) $ (4,110,390 ) $ (172,905 ) Preferred stock dividends (85,699 ) (100,624 ) (170,249 ) (201,248 ) Net loss available to common shareholders after preferred stock dividends $ (3,069,566 ) $ (369,362 ) $ (4,280,639 ) $ (374,153 ) Weighted average shares used in the computation of basic earning per share 7,249,370 6,015,053 7,249,370 5,893,655 Loss per share - basic $ (0.42 ) $ (0.06 ) $ (0.59 ) $ (0.06 ) Dilutive earnings (loss) per share Loss available to common shareholders $ (3,069,566 ) $ (369,362 ) $ (4,280,639 ) $ (374,153 ) Weighted average shares used in the computation of diluted earnings per share 7,249,370 6,015,053 7,249,370 5,893,655 Dilutive effect of options, warrants, convertible debt and convertible preferred stock - - - - Shares used in the computation of diluted earnings (loss) per share 7,249,370 6,015,053 7,249,370 5,893,655 Loss per share - diluted $ (0.42 ) $ (0.06 ) $ (0.59 ) $ (0.06 ) Anti-Dilutive Options Excluded 1,253,793 5,354,203 1,253,793 5,354,203 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Warrant Activity Number of Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding June 30, 2017 4,150,535 $ 4.67 3.87 $ 42,582 Issued - Expired (25,000 ) $ 12.06 - Outstanding December 31, 2017 4,125,535 $ 4.62 2.89 $ - Exercisable, December 31, 2017 4,069,979 $ 4.18 2.79 $ - |
Note 8 - Share-based Compensa24
Note 8 - Share-based Compensation (Tables) | 6 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Employee Option Activity Number of Options Weighted Average Exercise Price Average Remaining Contractual Life (Years) Aggregate Intrinsic Value Outstanding June 30, 2017 226,902 9.04 6.34 $ - Granted 50,000 2.00 9.70 - Expired/Forfeited (11,556 ) 23.40 23.40 Outstanding December 31, 2017 265,346 7.08 7.04 $ - Exercisable December 31, 2017 143,917 11.50 4.94 $ - Weighted Average Average Remaining Aggregate Number of Exercise Contractual Intrinsic Non-Executive Option Activity Options Price Life (Years) Value Outstanding June 30, 2017 602,311 3.57 6.11 $ - Granted 45,555 1.59 9.74 - Expired/forfeited (35,901 ) 4.01 - - Outstanding and exercisable December 31, 2017 611,965 3.40 7.35 $ - |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | Number of RSUs Weighted Average Grant Date Fair Value Outstanding June 30, 2017 411,429 $ 1.75 Granted 120,000 0.74 Expired/Forfeited - Outstanding December 31, 2017 531,429 $ 1.54 |
Note 9 - Fair Value Measureme25
Note 9 - Fair Value Measurements and Other Financial Instruments (Tables) | 6 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] | Exercise Price $2.03 - $2.07 Risk free interest rate 1.38% - 2.21% Expected volatility 100% - 160% Remaining Term (years) 0.22 - 5.57 |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | Convertible Warrants Notes Total Balance - June 30, 2017 $ 435,036 $ 116,004 $ 551,040 Change in fair value of derivative liabilities (254,553 ) (111,311 ) (365,864 ) Balance - December 31, 2017 $ 180,483 $ 4,693 $ 185,176 |
Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis [Table Text Block] | Fair Value Level 1 Level 2 Level 3 June 30, 2017 derivative liabilities $ 551,040 $ - $ - $ 551,040 December 31, 2017 derivative liabilities $ 185,176 $ - $ - $ 185,176 |
Note 12 - Segment Information (
Note 12 - Segment Information (Tables) | 6 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Authentidate AEON Total Three Months ended December 31, 2017 Net revenues $ 253,180 $ 5,278,042 $ 5,531,222 Cost of revenues 64,978 823,564 888,541 Operating expenses 335,067 3,818,194 4,153,261 Operating loss (81,887 ) 1,459,848 1,377,961 Six Months ended December 31, 2017 Net revenues $ 500,850 $ 8,388,424 $ 8,889,274 Cost of revenues 120,106 1,897,012 2,017,117 Operating expenses 1,208,452 7,437,181 8,645,633 Operating loss (707,602 ) 951,243 243,641 Three Months Ended December 31, 2016 Net revenues $ 321,378 $ 4,565,435 $ 4,886,813 Cost of revenues 55,325 896,343 951,668 Operating expenses 1,320,216 4,319,576 5,639,792 Operating loss (160,596 ) (592,383 ) (752,979 ) Six Months ended December 31, 2016 Net revenues $ 680,157 $ 10,256,731 $ 10,936,888 Cost of revenues 356,783 1,839,055 2,195,838 Operating expenses 2,764,971 8,109,655 10,874,626 Operating income (loss) (143,361 ) 205,623 62,262 December 31, 2017 Total assets $ 7,474,180 $ 4,934,988.74 $ 12,409,168 June 30, 2017 Total assets $ 11,772,874 $ 4,958,804 $ 16,731,678 |
Note 1 - Description of Busin27
Note 1 - Description of Business, Reverse Merger and Liquidity (Details Textual) - USD ($) | Jan. 26, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2016 | Jun. 30, 2016 |
Short-term Debt | $ 2,545,199 | $ 2,545,199 | |||
Cash and Cash Equivalents, at Carrying Value | 357,165 | 1,121,763 | $ 356,077 | $ 1,414,706 | |
Working Capital (Deficit) | 5,074,000 | ||||
Estimated Monthly Operational Requirement | 1,300,000 | ||||
Secured Convertible Note Payable [Member] | |||||
Short-term Debt | $ 2,545,199 | $ 2,545,199 | |||
Subsequent Event [Member] | |||||
Cash and Cash Equivalents, at Carrying Value | $ 1,057,000 | ||||
Subsequent Event [Member] | Subordinated Secured Note Payable [Member] | Former Chief Financial Officer [Member] | Accrued Expenses [Member] | |||||
Due to Related Parties | 210,000 | ||||
Subsequent Event [Member] | Secured Convertible Note Payable [Member] | |||||
Short-term Debt | $ 2,545,199 |
Note 2 - Summary of Significa28
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Dec. 31, 2017 | Jun. 30, 2017 |
Allowance for Doubtful Accounts Receivable, Current | $ 887,000 | $ 923,000 |
Cash, Uninsured Amount | $ 119,000 | $ 871,000 |
Note 3 - Restatement and Corr29
Note 3 - Restatement and Correction of Error - Restated Statements of Income and Cash Flows (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2017 | |
Net revenues | |||||
Fees for services | $ 5,278,042 | $ 4,565,435 | $ 8,388,424 | $ 10,256,731 | |
Hosted software services | 248,530 | 311,671 | 491,550 | 658,605 | |
Telehealth services | 4,650 | 9,707 | 9,300 | 21,552 | |
Net revenues | 5,531,222 | 4,886,813 | 8,889,274 | 10,936,888 | |
Operating expenses | |||||
Cost of revenues | 888,541 | 951,668 | 2,017,117 | 2,195,838 | |
Inventory Write-down | 0 | 237,674 | |||
Selling, general and administrative | 3,042,771 | 4,204,114 | 6,153,936 | 7,727,165 | |
Depreciation and amortization | 200,837 | 394,484 | 423,421 | 803,147 | |
Operating expenses | 4,153,261 | 5,639,792 | 8,645,633 | 10,874,626 | |
Operating income (loss) | 1,377,961 | (752,979) | 243,641 | 62,262 | |
Other (expense) income, net | 131,411 | 529,645 | 139,208 | (235,167) | |
Income (loss) before provision for income taxes | 1,509,372 | (223,334) | 382,849 | (172,905) | |
Income tax provision | (4,493,239) | (45,404) | (4,493,239) | ||
Net loss | (2,983,867) | (268,738) | (4,110,390) | (172,905) | |
Less: preferred dividends | (85,699) | (100,624) | (170,249) | (201,248) | |
Net loss available to common shareholders after preferred stock dividends | $ (3,069,566) | $ (369,362) | $ (4,280,639) | $ (374,153) | |
Loss per share: | |||||
Basic loss per common share (in dollars per share) | $ (0.42) | $ (0.06) | $ (0.59) | $ (0.06) | |
Diluted loss per common share (in dollars per share) | $ (0.42) | $ (0.06) | $ (0.59) | $ (0.06) | |
Cash flows from operating activities | |||||
Net loss | $ (2,983,867) | $ (268,738) | $ (4,110,390) | $ (172,905) | |
Adjustments to reconcile net income (loss) to net cash used by operating activities | |||||
Inventory Write-down | 0 | 237,674 | |||
Loss on debt extinguishment | |||||
Change in fair value of derivative liabilities | (365,864) | (135,601) | |||
Deferred taxes | |||||
Depreciation and amortization | 200,837 | 394,484 | 423,421 | 803,147 | |
Share based compensation | 21,111 | 89,526 | 51,159 | 148,476 | |
Deferred rent | (4,874) | ||||
Changes in assets and liabilities | |||||
Accounts receivable | (1,446,948) | 1,067,894 | |||
Inventory | (49,819) | (303,637) | |||
Prepaid expenses and other current assets | 19,982 | 49,696 | |||
Accounts payable | (650,497) | (1,130,623) | |||
Accrued expenses | 325,285 | (465,416) | |||
Accrued commissions | 427,797 | (72,546) | |||
Deferred rent | 4,874 | ||||
Net cash provided by operating activities | (764,598) | 21,285 | |||
Cash flows from investing activities | |||||
Purchases of property and equipment | (22,103) | ||||
Net cash used in investing activities | (22,103) | ||||
Cash flows from financing activities | |||||
Proceeds from note payable - related party | |||||
Repayment of notes payable | (1,057,811) | ||||
Net cash used in financing activities | (1,057,811) | ||||
Net decrease in cash and cash equivalents | (764,598) | (1,058,629) | |||
Cash beginning of period | 1,121,763 | 1,414,706 | $ 1,414,706 | ||
Cash end of period | $ 357,165 | 356,077 | $ 357,165 | 356,077 | 1,121,763 |
Scenario, Previously Reported [Member] | |||||
Net revenues | |||||
Fees for services | 4,565,435 | 10,256,731 | |||
Hosted software services | 311,671 | 658,605 | |||
Telehealth services | 9,707 | 21,552 | |||
Net revenues | 4,886,813 | 10,936,888 | |||
Operating expenses | |||||
Cost of revenues | 1,128,218 | 2,295,214 | |||
Inventory Write-down | 237,674 | ||||
Selling, general and administrative | 4,293,640 | 7,875,641 | |||
Depreciation and amortization | 394,484 | 803,147 | |||
Operating expenses | 5,816,342 | 11,211,676 | |||
Operating income (loss) | (929,529) | (274,788) | |||
Other (expense) income, net | 529,645 | (235,167) | |||
Income (loss) before provision for income taxes | (399,884) | (509,955) | |||
Income tax provision | 45,404 | ||||
Net loss | (445,288) | (509,955) | |||
Less: preferred dividends | (100,624) | (201,248) | |||
Net loss available to common shareholders after preferred stock dividends | $ (545,912) | $ (711,203) | |||
Loss per share: | |||||
Basic loss per common share (in dollars per share) | $ (0.09) | $ (0.12) | |||
Diluted loss per common share (in dollars per share) | $ (0.09) | $ (0.12) | |||
Cash flows from operating activities | |||||
Net loss | $ (445,288) | $ (509,955) | |||
Adjustments to reconcile net income (loss) to net cash used by operating activities | |||||
Inventory Write-down | 237,674 | ||||
Loss on debt extinguishment | |||||
Change in fair value of derivative liabilities | (135,601) | ||||
Deferred taxes | |||||
Depreciation and amortization | 394,484 | 803,147 | |||
Share based compensation | 148,476 | ||||
Deferred rent | (4,874) | ||||
Changes in assets and liabilities | |||||
Accounts receivable | 1,067,854 | ||||
Inventory | 33,413 | ||||
Prepaid expenses and other current assets | 49,696 | ||||
Accounts payable | (1,130,583) | ||||
Accrued expenses | (465,416) | ||||
Accrued commissions | (72,546) | ||||
Deferred rent | |||||
Net cash provided by operating activities | 21,285 | ||||
Cash flows from investing activities | |||||
Purchases of property and equipment | (22,103) | ||||
Net cash used in investing activities | (22,103) | ||||
Cash flows from financing activities | |||||
Proceeds from note payable - related party | |||||
Repayment of notes payable | (1,057,811) | ||||
Net cash used in financing activities | (1,057,811) | ||||
Net decrease in cash and cash equivalents | (1,058,629) | ||||
Cash beginning of period | 1,414,706 | 1,414,706 | |||
Cash end of period | 356,077 | 356,077 | |||
Restatement Adjustment [Member] | |||||
Net revenues | |||||
Fees for services | |||||
Hosted software services | |||||
Telehealth services | |||||
Net revenues | |||||
Operating expenses | |||||
Cost of revenues | (176,550) | (337,050) | |||
Inventory Write-down | |||||
Selling, general and administrative | |||||
Depreciation and amortization | |||||
Operating expenses | (176,550) | (337,050) | |||
Operating income (loss) | 176,550 | 337,050 | |||
Other (expense) income, net | |||||
Income (loss) before provision for income taxes | 176,550 | 337,050 | |||
Income tax provision | |||||
Net loss | 176,550 | 337,050 | |||
Less: preferred dividends | |||||
Net loss available to common shareholders after preferred stock dividends | $ 176,550 | $ 337,050 | |||
Loss per share: | |||||
Basic loss per common share (in dollars per share) | $ 0.03 | $ 0.06 | |||
Diluted loss per common share (in dollars per share) | $ 0.03 | $ 0.06 | |||
Cash flows from operating activities | |||||
Net loss | $ 176,550 | $ 337,050 | |||
Adjustments to reconcile net income (loss) to net cash used by operating activities | |||||
Inventory Write-down | |||||
Loss on debt extinguishment | |||||
Change in fair value of derivative liabilities | |||||
Deferred taxes | |||||
Depreciation and amortization | |||||
Share based compensation | |||||
Deferred rent | |||||
Changes in assets and liabilities | |||||
Accounts receivable | |||||
Inventory | (337,050) | ||||
Prepaid expenses and other current assets | |||||
Accounts payable | |||||
Accrued expenses | |||||
Accrued commissions | |||||
Deferred rent | |||||
Net cash provided by operating activities | |||||
Cash flows from investing activities | |||||
Purchases of property and equipment | |||||
Net cash used in investing activities | |||||
Cash flows from financing activities | |||||
Proceeds from note payable - related party | |||||
Repayment of notes payable | |||||
Net cash used in financing activities | |||||
Net decrease in cash and cash equivalents | |||||
Cash beginning of period | |||||
Cash end of period |
Note 4 - Inventory (Details Tex
Note 4 - Inventory (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Inventory Write-down | $ 0 | $ 237,674 | ||
Purchased Components [Member] | ||||
Inventory Write-down | 31,000 | |||
Finished Goods [Member] | ||||
Inventory Write-down | $ 207,000 |
Note 4 - Inventory - Inventory
Note 4 - Inventory - Inventory (Details) - USD ($) | Dec. 31, 2017 | Jun. 30, 2017 |
Laboratory testing supplies | $ 397,569 | $ 347,750 |
Total inventory | $ 397,569 | $ 347,750 |
Note 5 - Income Taxes (Details
Note 5 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | |
Effective Income Tax Rate Reconciliation, Percent | 179.50% | 326.40% | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | $ 4,493,000 | $ 4,490,581 | |
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent | 35.00% | ||
Deferred Tax Assets, Net | 7,357,000 | $ 7,357,000 | |
Deferred Tax Assets, Valuation Allowance | $ 31,291,000 | $ 31,291,000 |
Note 6 - Related Party Notes 33
Note 6 - Related Party Notes Payable (Details Textual) | Mar. 20, 2017USD ($)$ / shares | Jan. 31, 2017USD ($) | Sep. 01, 2016$ / shares | Jun. 30, 2017USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($) | Jun. 30, 2017USD ($)$ / sharesshares | Jun. 30, 2016USD ($)$ / shares | Mar. 19, 2017USD ($) |
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 | ||||||
Gain (Loss) on Extinguishment of Debt | |||||||||
Series E Convertible Preferred Stock [Member] | |||||||||
Stock Issued During Period, Shares, Exchange of Convertible Securities | shares | 25,000 | ||||||||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 30 | $ 30 | $ 30 | ||||||
Convertible Preferred Stock, Aggregate Shares Issued upon Conversion | shares | 187,500 | 187,500 | 187,500 | ||||||
Convertible Preferred Stock, Conversion Price | $ / shares | $ 4 | $ 4 | $ 4 | ||||||
Convertible Preferred Stock, Beneficial Ownership Limitation for Conversion Rights without Issuer Consent | 4.99% | 4.99% | |||||||
Convertible Preferred Stock, Beneficial Ownership Limitation for Conversion Rights with Issuer Consent | 9.99% | 9.99% | |||||||
Stock Issued During Period, Excess Value, Exchange of Convertible Securities | $ 50,000 | ||||||||
Series B Preferred Stock [Member] | |||||||||
Preferred Stock, Preferred Dividends in Arrears Waived During Period | $ 120,385 | ||||||||
Original Notes [Member] | |||||||||
Debt Instrument, Face Amount | $ 2,170,000 | ||||||||
Gain (Loss) on Extinguishment of Debt | $ 0 | $ (258,037) | |||||||
New Notes [Member] | |||||||||
Debt Instrument, Face Amount | $ 2,545,199 | ||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 2.03 | ||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 1,253,792 | ||||||||
Debt Instrument, Percentage of Conversion Price to Price per Share if Lower than Original Conversion Price | 85.00% | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||||
Debt Instrument, Term | 1 year | ||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 328,422 | ||||||||
Debt Instrument, Period Following National Securities Exchange Listing of Common Stock to Commence Redemption Right by Debtor | 30 days | ||||||||
Debt Instrument, Redemption Price, Percentage | 110.00% | ||||||||
Debt Instrument, Event of Default, Outstanding Principal and Interest Payable at Lenders' Option, Percent | 110.00% | ||||||||
Unsecured Promissory Note [Member] | Original Notes [Member] | Optimum Ventures, LLC and Hanif A. Roshan [Member] | |||||||||
Debt Instrument, Face Amount | 700,000 | ||||||||
Secured Convertible Note Payable [Member] | Lender One [Member] | |||||||||
Debt Instrument, Face Amount | $ 1,056,875 | $ 950,000 | |||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 2.03 | $ 2.25 | |||||||
Debt Instrument, Convertible, Number of Equity Instruments | 422,222 | ||||||||
Debt Instrument, Percentage of Conversion Price to Price per Share if Lower than Original Conversion Price | 85.00% | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 9.00% | |||||||
Debt Instrument, Term | 1 year | ||||||||
Secured Convertible Note Payable [Member] | Lender One [Member] | Original Notes [Member] | |||||||||
Debt Instrument, Face Amount | $ 950,000 | ||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 2.25 | ||||||||
Secured Convertible Note Payable [Member] | J. David Luce [Member] | |||||||||
Debt Instrument, Face Amount | $ 641,294 | $ 320,000 | $ 320,000 | ||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 2.03 | $ 3 | $ 4.86 | ||||||
Debt Instrument, Convertible, Number of Equity Instruments | 106,667 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | 5.00% | 10.00% | ||||||
Debt Instrument, Term | 1 year | ||||||||
Secured Convertible Note Payable [Member] | Optimum Ventures, LLC [Member] | |||||||||
Debt Instrument, Face Amount | $ 591,613 | ||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 2.03 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||||||
Debt Instrument, Term | 1 year | ||||||||
Unsecured Promissory Note [Member] | J. David Luce [Member] | |||||||||
Debt Instrument, Face Amount | $ 200,000 | $ 200,000 | |||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 3 | ||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 173,333 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 20.00% | ||||||||
Debt Instrument, Period Following Issuance in which Sale of Equity or Debt Securities Above Threshold Would Trigger Maturity | 90 days | ||||||||
Debt Instrument, Sale of Equity or Debt Securities, Threshold that Would Trigger Maturity | $ 5,000,000 | ||||||||
Debt Instrument, Extension Period at Lender Option | 90 days | ||||||||
Unsecured Promissory Note [Member] | Optimum Ventures, LLC [Member] | |||||||||
Debt Instrument, Face Amount | $ 450,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 20.00% | ||||||||
Debt Instrument, Period Following Issuance in which Sale of Equity or Debt Securities Above Threshold Would Trigger Maturity | 90 days | ||||||||
Debt Instrument, Sale of Equity or Debt Securities, Threshold that Would Trigger Maturity | $ 5,000,000 | ||||||||
Debt Instrument, Sale of Equity or Debt Securities Above Threshold, Period to Maturity | 30 days | ||||||||
Unsecured Promissory Note [Member] | Hanif A. Roshan [Member] | |||||||||
Debt Instrument, Face Amount | $ 250,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||
Debt Instrument, Term | 30 days | ||||||||
Convertible Notes Payable [Member] | J. David Luce [Member] | Original Notes [Member] | |||||||||
Debt Instrument, Face Amount | $ 520,000 | ||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 3 |
Note 6 - Related Party Notes 34
Note 6 - Related Party Notes Payable - Related Party Notes Payable (Details) - USD ($) | Dec. 31, 2017 | Jun. 30, 2017 |
Related party notes payable | $ 2,545,199 | $ 2,545,199 |
Secured Convertible Note Payable [Member] | ||
Related party notes payable | 2,545,199 | 2,545,199 |
Secured Convertible Note Payable [Member] | Lender One [Member] | ||
Related party notes payable | $ 1,056,875 | $ 1,056,875 |
Debt instrument, stated percentage | 5.00% | 5.00% |
Secured Convertible Note Payable [Member] | J. David Luce [Member] | ||
Related party notes payable | $ 641,294 | $ 641,294 |
Debt instrument, stated percentage | 5.00% | 5.00% |
Secured Convertible Note Payable [Member] | Hanif A. Roshan [Member] | ||
Related party notes payable | $ 255,417 | $ 255,417 |
Debt instrument, stated percentage | 5.00% | 5.00% |
Secured Convertible Note Payable [Member] | Optimum Ventures, LLC [Member] | ||
Related party notes payable | $ 591,613 | $ 591,613 |
Debt instrument, stated percentage | 5.00% | 5.00% |
Note 7 - Equity (Details Textua
Note 7 - Equity (Details Textual) - USD ($) | 6 Months Ended | |
Dec. 31, 2017 | Jun. 30, 2017 | |
Preferred Stock, Par or Stated Value Per Share | $ 0.10 | $ 0.10 |
Series E Convertible Preferred Stock [Member] | ||
Preferred Stock, Shares Outstanding | 25,000 | 25,000 |
Convertible Preferred Stock, Aggregate Shares Issued upon Conversion | 187,500 | 187,500 |
Convertible Preferred Stock, Conversion Price | $ 4 | $ 4 |
Preferred Stock, Par or Stated Value Per Share | $ 30 | $ 30 |
Preferred Stock, Period Following Issuance Date to Initiate Redemption | 1 year | |
Preferred Stock, Dividend Rate, Percentage | 5.00% | |
Dividends Payable | $ 29,000 | |
Series D Convertible Preferred Stock [Member] | ||
Preferred Stock, Shares Outstanding | 605,000 | 605,000 |
Convertible Preferred Stock, Aggregate Shares Issued upon Conversion | 619,154 | |
Convertible Preferred Stock, Conversion Price | $ 9.77139 | |
Preferred Stock, Dividend Rate, Percentage | 5.00% | |
Dividends Payable | $ 787,000 | |
Preferred Stock, Redemption Price Per Share | $ 10 |
Note 7 - Equity - Earnings Per
Note 7 - Equity - Earnings Per Share (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Basic earnings (loss) per share | ||||
Net loss | $ (2,983,867) | $ (268,738) | $ (4,110,390) | $ (172,905) |
Preferred stock dividends | (85,699) | (100,624) | (170,249) | (201,248) |
Net loss available to common shareholders after preferred stock dividends | $ (3,069,566) | $ (369,362) | $ (4,280,639) | $ (374,153) |
Weighted average shares used in the computation of basic earning per share (in shares) | 7,249,370 | 6,015,053 | 7,249,370 | 5,893,655 |
Loss per share - basic (in dollars per share) | $ (0.42) | $ (0.06) | $ (0.59) | $ (0.06) |
Dilutive earnings (loss) per share | ||||
Loss available to common shareholders | $ (3,069,566) | $ (369,362) | $ (4,280,639) | $ (374,153) |
Weighted average shares used in the computation of diluted earnings per share (in shares) | 7,249,370 | 6,015,053 | 7,249,370 | 5,893,655 |
Dilutive effect of options, warrants, convertible debt and convertible preferred stock (in shares) | ||||
Shares used in the computation of diluted earnings (loss) per share (in shares) | 7,249,370 | 6,015,053 | 7,249,370 | 5,893,655 |
Loss per share - diluted (in dollars per share) | $ (0.42) | $ (0.06) | $ (0.59) | $ (0.06) |
Employee Stock Option [Member] | ||||
Dilutive earnings (loss) per share | ||||
Anti-Dilutive Options Excluded (in shares) | 1,253,793 | 5,354,203 | 1,253,793 | 5,354,203 |
Note 7 - Equity - Warrant Activ
Note 7 - Equity - Warrant Activity (Details) - Warrant [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Dec. 31, 2017 | Jun. 30, 2017 | |
Warrants outstanding (in shares) | 4,150,535 | |
Warrants outstanding, weighted average exercise price per share (in dollars per share) | $ 4.62 | $ 4.67 |
Warrants outstanding, weighted average remaining contractual life (Year) | 2 years 324 days | 3 years 317 days |
Warrants outstanding, aggregate intrinsic value | $ 42,582 | |
Warrants issued (in shares) | ||
Warrants expired (in shares) | (25,000) | |
Warrants expired, weighted average exercise price per share (in dollars per share) | $ 12.06 | |
Warrants outstanding (in shares) | 4,125,535 | 4,150,535 |
Warrants exercisable | $ 4,069,979 | |
Warrants exercisable, weighted average exercise price per share (in dollars per share) | $ 4.18 | |
Warrants exercisable, weighted average remaining contractual life (Year) | 2 years 288 days | |
Warrants exercisable, aggregate intrinsic value |
Note 8 - Share-based Compensa38
Note 8 - Share-based Compensation (Details Textual) shares in Thousands | 6 Months Ended |
Dec. 31, 2017shares | |
Non-employee Directors [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 0 |
Note 8 - Share-based Compensa39
Note 8 - Share-based Compensation - Stock Option Activity (Details) - USD ($) | 6 Months Ended | 12 Months Ended | |
Dec. 31, 2017 | Jun. 30, 2017 | Dec. 31, 2017 | |
Employees [Member] | |||
Outstanding, beginning of period (in shares) | 226,902 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 9.04 | ||
Outstanding, average remaining contractual life (Year) | 7 years 14 days | 6 years 124 days | |
Outstanding, aggregate intrinsic value | |||
Number of options granted (in shares) | 50,000 | ||
Granted, weighted average exercise price (in dollars per share) | $ 2 | ||
Granted, average remaining contractual life (Year) | 9 years 255 days | ||
Granted, aggregate intrinsic value | |||
Number of options expired/forfeited (in shares) | (11,556) | ||
Expired/forfeited, weighted average exercise price (in dollars per share) | $ 23.40 | ||
Expired/forfeited, average remaining contractual life (Year) | 23 years 146 days | ||
Expired/forfeited, aggregate intrinsic value | |||
Outstanding, end of period (in shares) | 265,346 | 226,902 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 7.08 | $ 9.04 | |
Outstanding, aggregate intrinsic value | |||
Exercisable (in shares) | 143,917 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 11.50 | ||
Exercisable, average remaining contractual life (Year) | 4 years 343 days | ||
Exercisable, aggregate intrinsic value | |||
Non-Executives [Member] | |||
Outstanding, beginning of period (in shares) | 602,311 | ||
Outstanding, weighted average exercise price (in dollars per share) | $ 3.57 | ||
Outstanding, average remaining contractual life (Year) | 7 years 127 days | 6 years 40 days | |
Outstanding, aggregate intrinsic value | |||
Number of options granted (in shares) | 45,555 | ||
Granted, weighted average exercise price (in dollars per share) | $ 1.59 | ||
Granted, average remaining contractual life (Year) | 9 years 270 days | ||
Granted, aggregate intrinsic value | |||
Number of options expired/forfeited (in shares) | (35,901) | ||
Expired/forfeited, weighted average exercise price (in dollars per share) | $ 4.01 | ||
Expired/forfeited, aggregate intrinsic value | |||
Outstanding, end of period (in shares) | 611,965 | 602,311 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 3.40 | $ 3.57 | |
Outstanding, aggregate intrinsic value | |||
Exercisable, aggregate intrinsic value |
Note 8 - Share-based Compensa40
Note 8 - Share-based Compensation - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] | 6 Months Ended |
Dec. 31, 2017$ / sharesshares | |
Number of RSUs outstanding (in shares) | shares | 411,429 |
RSUs outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.75 |
Number of RSUs granted (in shares) | shares | 120,000 |
RSUs granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0.74 |
Number of RSUs expired/forfeited (in shares) | shares | |
RSUs expired/forfeited, weighted average grant date fair value (in dollars per share) | $ / shares | |
Number of RSUs outstanding (in shares) | shares | 531,429 |
RSUs outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 1.54 |
Note 9 - Fair Value Measureme41
Note 9 - Fair Value Measurements and Other Financial Instruments (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | |
Gain (Loss) on Derivative Instruments, Net, Pretax | $ 292,573 | $ 621,820 | $ 365,864 | $ 135,601 |
Note 9 - Fair Value Measureme42
Note 9 - Fair Value Measurements and Other Financial Instruments - Valuation Techniques (Details) | 6 Months Ended |
Dec. 31, 2017$ / shares | |
Exercise Price (in dollars per share) | |
Expected volatility | |
Minimum [Member] | |
Exercise Price (in dollars per share) | $ 2.03 |
Risk free interest rate | 1.38% |
Expected volatility | 100.00% |
Remaining Term (years) (Year) | 80 days |
Maximum [Member] | |
Exercise Price (in dollars per share) | $ 2.07 |
Risk free interest rate | 2.21% |
Expected volatility | 160.00% |
Remaining Term (years) (Year) | 5 years 208 days |
Note 9 - Fair Value Measureme43
Note 9 - Fair Value Measurements and Other Financial Instruments - Summary in Changes in Fair Value (Details) | 6 Months Ended |
Dec. 31, 2017USD ($) | |
Balance, beginning of period | $ 551,040 |
Change in fair value of derivative liabilities | (365,864) |
Balance, end of period | 185,176 |
Warrant [Member] | |
Balance, beginning of period | 435,036 |
Change in fair value of derivative liabilities | (254,553) |
Balance, end of period | 180,483 |
Convertible Notes [Member] | |
Balance, beginning of period | 116,004 |
Change in fair value of derivative liabilities | (111,311) |
Balance, end of period | $ 4,693 |
Note 9 - Fair Value Measureme44
Note 9 - Fair Value Measurements and Other Financial Instruments - Derivative Liabilities (Details) - USD ($) | Dec. 31, 2017 | Jun. 30, 2017 |
Derivative liabilities | $ 185,176 | $ 551,040 |
Fair Value, Inputs, Level 1 [Member] | ||
Derivative liabilities | ||
Fair Value, Inputs, Level 2 [Member] | ||
Derivative liabilities | ||
Fair Value, Inputs, Level 3 [Member] | ||
Derivative liabilities | $ 185,176 | $ 551,040 |
Note 10 - Commitments and Con45
Note 10 - Commitments and Contingencies (Details Textual) - USD ($) | Oct. 11, 2017 | Oct. 10, 2017 | Aug. 24, 2017 | Oct. 04, 2016 | Sep. 06, 2016 | Jun. 22, 2016 | Dec. 31, 2017 |
Severance Compensation Arbitration Filed by Former CEO [Member] | |||||||
Loss Contingency, Damages Sought, Value | $ 341,620 | ||||||
Cogmedix, Inc. v. Authentidate Holding Corp [Member] | |||||||
Loss Contingency, Damages Sought, Value | $ 227,061 | ||||||
Authentidate Holding Corp. and Peachstate Health Management, LLC d/b/a Aeon Clinical Laboratories v. Richard G. Hersperger [Member] | |||||||
Litigation Case, Number of Shares Sought to Recover by Plaintiff | 38,321 | ||||||
Litigation Settlement, Amount Awarded to Other Party | $ 15,000 | ||||||
Peachstate Health Management, LLC d/b/a Aeon Clinical Laboratories v. Radius Foundation, Inc. and William Bramlett, Ph.D. [Member] | |||||||
Loss Contingency, Damages Sought, Value | $ 116,650 | ||||||
Peachstate Health Management, LLC d/b/a Aeon Clinical Laboratories v. Trimana, LLC d/b/a Via Medical Center [Member] | |||||||
Loss Contingency, Damages Sought, Value | $ 104,442 | ||||||
Carlotta Miraflor v. Peachstate Health Management, LLC d/b/a Aeon Global Health, et al. [Member] | |||||||
Loss Contingency, Damages Sought, Value | $ 75,000 |
Note 11 - Related Party Trans46
Note 11 - Related Party Transactions (Details Textual) - USD ($) | Jan. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 |
Interest Expense, Related Party | $ 32,000 | $ 92,000 | $ 64,000 | $ 203,000 | ||
Hanif A. Roshan [Member] | Unsecured Promissory Note [Member] | ||||||
Debt Instrument, Face Amount | $ 250,000 | |||||
Debt Instrument, Term | 30 days | |||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||||
Facilities Leased [Member] | Centennial Properties of Georgia, LLC [Member] | ||||||
Lessee, Operating Lease, Term of Contract | 12 years | |||||
Operating Leases, Rent Expense, Net | 144,000 | $ 140,000 | $ 288,000 | $ 279,000 | ||
Facilities Leased [Member] | Centennial Properties of Georgia, LLC [Member] | Minimum [Member] | ||||||
Operating Leases, Monthly Rent Expense | 46,500 | |||||
Facilities Leased [Member] | Centennial Properties of Georgia, LLC [Member] | Maximum [Member] | ||||||
Operating Leases, Monthly Rent Expense | 60,000 | |||||
Residential Premises Leased [Member] | Hanif A. Roshan [Member] | ||||||
Lessee, Operating Lease, Term of Contract | 1 year | |||||
Operating Leases, Monthly Rent Expense | $ 7,500 | |||||
Operating Leases, Rent Expense, Net | $ 22,500 | $ 45,000 | ||||
Operating Leases, Increase in Rent Expense Upon Each Renewal | 3.00% |
Note 12 - Segment Information47
Note 12 - Segment Information (Details Textual) | 6 Months Ended |
Dec. 31, 2017 | |
Number of Operating Segments | 2 |
Note 12 - Segment Information -
Note 12 - Segment Information - Selected Financial Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Jun. 30, 2017 | |
Net revenues | $ 5,531,222 | $ 4,886,813 | $ 8,889,274 | $ 10,936,888 | |
Cost of revenues | 888,541 | 951,668 | 2,017,117 | 2,195,838 | |
Operating expenses | 4,153,261 | 5,639,792 | 8,645,633 | 10,874,626 | |
Operating income (loss) | 1,377,961 | (752,979) | 243,641 | 62,262 | |
Total assets | 12,409,168 | 12,409,168 | $ 16,731,678 | ||
Web-based Software [Member] | |||||
Net revenues | 253,180 | 321,378 | 500,850 | 680,157 | |
Cost of revenues | 64,978 | 55,325 | 120,106 | 356,783 | |
Operating expenses | 335,067 | 1,320,216 | 1,208,452 | 2,764,971 | |
Operating income (loss) | (81,887) | (160,596) | (707,602) | (143,361) | |
Total assets | 7,474,180 | 7,474,180 | 11,772,874 | ||
Laboratory Testing Services [Member] | |||||
Net revenues | 5,278,042 | 4,565,435 | 8,388,424 | 10,256,731 | |
Cost of revenues | 823,564 | 896,343 | 1,897,012 | 1,839,055 | |
Operating expenses | 3,818,194 | 4,319,576 | 7,437,181 | 8,109,655 | |
Operating income (loss) | 1,459,848 | $ (592,383) | 951,243 | $ 205,623 | |
Total assets | $ 4,934,988.74 | $ 4,934,988.74 | $ 4,958,804 |
Note 13 - Subsequent Events (De
Note 13 - Subsequent Events (Details Textual) - USD ($) | Feb. 01, 2018 | Jan. 04, 2018 | Jan. 15, 2020 | Jan. 23, 2018 |
Subsequent Event [Member] | Unsecured Promissory Note [Member] | Chief Executive Officer [Member] | ||||
Debt Instrument, Face Amount | $ 500,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||
Subsequent Event [Member] | Chief Medical Officer [Member] | Restricted Stock Units (RSUs) [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 280,000 | |||
Moncada [Member] | Scenario, Forecast [Member] | ||||
Consulting Agreement, Fee Amount Per Month | $ 25,000 | |||
Consulting Agreement, Additional Fee Amount | $ 40,000 | |||
Moncada [Member] | Subsequent Event [Member] | ||||
Consulting Agreement, Fee Amount upon Execution | $ 40,000 |