Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Aug. 01, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | NOCOPI TECHNOLOGIES INC/MD/ | |
Entity Central Index Key | 888,981 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 58,599,016 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,017 |
Statements of Operations
Statements of Operations - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenues | ||||
Licenses, royalties and fees | $ 131,900 | $ 98,700 | $ 290,700 | $ 211,500 |
Product and other sales | 227,700 | 104,700 | 410,300 | 274,700 |
Total revenues | 359,600 | 203,400 | 701,000 | 486,200 |
Cost of revenues | ||||
Licenses, royalties and fees | 26,800 | 16,900 | 47,800 | 36,500 |
Product and other sales | 94,100 | 49,200 | 166,300 | 118,300 |
Total cost of revenues | 120,900 | 66,100 | 214,100 | 154,800 |
Gross profit | 238,700 | 137,300 | 486,900 | 331,400 |
Operating expenses | ||||
Research and development | 36,500 | 32,400 | 72,900 | 70,000 |
Sales and marketing | 59,800 | 47,400 | 120,700 | 103,900 |
General and administrative | 68,900 | 66,800 | 159,600 | 154,300 |
Total operating expenses | 165,200 | 146,600 | 353,200 | 328,200 |
Net income (loss) from operations | 73,500 | (9,300) | 133,700 | 3,200 |
Other income (expenses) | ||||
Interest expense, bank charges and accretion of interest | (3,100) | (3,400) | (19,300) | (6,800) |
Total other income (expenses) | (3,100) | (3,400) | (19,300) | (6,800) |
Net income (loss) | $ 70,400 | $ (12,700) | $ 114,400 | $ (3,600) |
Basic and diluted net income (loss) per common share | $ 0 | $ 0 | $ 0 | $ 0 |
Weighted average common shares outstanding | ||||
Basic | 58,599,016 | 58,599,016 | 58,599,016 | 58,599,016 |
Diluted | 58,969,160 | 58,599,016 | 58,889,178 | 58,599,016 |
Balance Sheets
Balance Sheets - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Current assets | ||
Cash | $ 179,500 | $ 199,100 |
Accounts receivable less $5,000 allowance for doubtful accounts | 294,000 | 243,400 |
Inventory | 86,400 | 70,900 |
Prepaid and other | 30,000 | 29,600 |
Total current assets | 589,900 | 543,000 |
Fixed assets | ||
Leasehold improvements | 19,700 | 19,700 |
Furniture, fixtures and equipment | 183,200 | 178,300 |
Fixed assets, gross | 202,900 | 198,000 |
Less: accumulated depreciation and amortization | 186,500 | 183,000 |
Total fixed assets | 16,400 | 15,000 |
Total assets | 606,300 | 558,000 |
Current liabilities | ||
Demand loans | 10,000 | 10,000 |
Convertible debentures | 95,000 | 128,300 |
Accounts payable | 30,100 | 33,100 |
Accrued expenses | 393,900 | 459,900 |
Deferred revenue | 96,000 | 106,300 |
Total current liabilities | 625,000 | 737,600 |
Convertible debentures | 33,300 | |
Stockholders' deficiency | ||
Common stock, $0.01 par value, Authorized - 75,000,000 shares, Issued and outstanding - 58,599,016 shares | 586,000 | 586,000 |
Paid-in capital | 12,439,800 | 12,426,600 |
Accumulated deficit | (13,077,800) | (13,192,200) |
Total stockholders' deficiency | (52,000) | (179,600) |
Total liabilities and stockholders' deficiency | $ 606,300 | $ 558,000 |
Balance Sheets (Parenthetical)
Balance Sheets (Parenthetical) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Statement of Financial Position [Abstract] | ||
Allowance for doubtful accounts | $ 5,000 | $ 5,000 |
Common stock, par value | $ 0.01 | $ 0.01 |
Common stock, shares authorized | 75,000,000 | 75,000,000 |
Common stock, shares issued | 58,599,016 | 58,599,016 |
Common stock, shares outstanding | 58,599,016 | 58,599,016 |
Statements of Cash Flows
Statements of Cash Flows - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Operating Activities | ||
Net income (loss) | $ 114,400 | $ (3,600) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities | ||
Depreciation and amortization | 3,500 | 3,700 |
Accretion of interest - convertible debentures | 13,200 | 500 |
Net income adjusted for non-cash operating activities | 131,100 | 600 |
(Increase) decrease in assets | ||
Accounts receivable | (50,600) | 85,100 |
Inventory | (15,500) | (26,300) |
Prepaid and other | (400) | (12,500) |
Increase (decrease) in liabilities | ||
Accounts payable and accrued expenses | (69,000) | 39,900 |
Deferred revenue | (10,300) | 43,400 |
Total increase in operating capital | (145,800) | 129,600 |
Net cash provided by (used in) operating activities | (14,700) | 130,200 |
Investing Activities | ||
Additions to fixed assets | (4,900) | |
Net cash used in investing activities | (4,900) | |
Financing Activities | ||
Repayment of demand loans | (9,000) | |
Net cash used in financing activities | (9,000) | |
Increase (decrease) in cash | (19,600) | 121,200 |
Cash at beginning of year | 199,100 | 11,400 |
Cash at end of period | $ 179,500 | $ 132,600 |
Financial Statements
Financial Statements | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Financial Statements | Note 1. Financial Statements The accompanying unaudited condensed financial statements have been prepared by Nocopi Technologies, Inc. (the Company). These statements include all adjustments (consisting only of normal recurring adjustments) which management believes necessary for a fair presentation of the statements and have been prepared on a consistent basis using the accounting policies described in the summary of Accounting Policies included in the Company's 2016 Annual Report on Form 10-K. Certain financial information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the accompanying disclosures are adequate to make the information presented not misleading. The Notes to Financial Statements included in the 2016 Annual Report on Form 10-K should be read in conjunction with the accompanying interim financial statements. The interim operating results for the three months and six months ended June 30, 2017 may not be necessarily indicative of the operating results expected for the full year. The Company follows Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 220 in reporting comprehensive income. Comprehensive income is a more inclusive financial reporting methodology that includes disclosure of certain financial information that historically has not been recognized in the calculation of net income. Since the Company has no items of other comprehensive income, comprehensive income (loss) is equal to net income (loss). |
Going Concern
Going Concern | 6 Months Ended |
Jun. 30, 2017 | |
Going Concern [Abstract] | |
Going Concern | Note 2. Going Concern Since its inception, the Company has incurred significant losses and, as of June 30, 2017, had accumulated losses of $13,077,800. For the six months ended June 30, 2017, the Company had net income from operations of $133,700. At June 30, 2017, the Company had negative working capital of $35,100 and a stockholders deficiency of $52,000. For the year ended December 31, 2016, the Companys net income from operations was $271,800. The Company, which is substantially dependent on its licensees to generate licensing revenues, may incur operating losses and experience negative cash flow in the future. Sustaining profitability and positive cash flow depends on the Companys ability to maintain the increases in revenues and gross profits that it realized in 2016 from its traditional business. There can be no assurances that the Company will be able to generate sufficient revenues and gross profits to sustain profitability and positive cash flow in the future. Receipt of funds in earlier periods from investors and from demand loan holders have allowed the Company to remain in operation through the current date. Management of the Company believes that it may need additional capital in the future both to fund investments that may be needed to maintain operating revenues at levels that will sustain its operations and maintain the levels of operating income and positive cash flow achieved during 2016. There can be no assurances that the Company will be successful in obtaining sufficient additional capital, or if it does, that the additional capital will enable the Company to impact its revenues so as to have a material positive effect on the Companys operations and cash flow. The Company believes that without additional capital, whether in the form of debt, equity or both, it may be not be able to satisfy its debts as they become due. The above mentioned factors raise substantial doubt about the Companys ability to continue as a going concern for a period of one year from the date the financial statements are issued. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. |
Stock Based Compensation
Stock Based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock Based Compensation | Note 3. Stock Based Compensation The Company follows FASB ASC 718, Compensation Stock Compensation |
Demand Loans
Demand Loans | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Demand Loans | Note 4. Demand Loans At June 30, 2017, the Company had a $10,000 unsecured loan from one individual outstanding. The loan bears interest at 8%. In late July 2017, the Company repaid this remaining $10,000 unsecured loan. During the first six months of 2016, the Company repaid $9,000 of the unsecured loans. |
Convertible Debentures
Convertible Debentures | 6 Months Ended |
Jun. 30, 2017 | |
Convertible Debt [Abstract] | |
Convertible Debentures | Note 5. Convertible Debentures At June 30, 2017, the Company had convertible debentures totaling $128,300 outstanding, of which $95,000 are due during the third quarter of 2017 and $33,300 are due during the third quarter of 2018. The convertible debentures bear interest at 7%. At the option of the lender, the debentures and accrued interest are convertible in whole or part into common stock of the Company at $0.025 per share. During the first quarter of 2017, the Companys Board of Directors approved and the holders of $33,300 of convertible debentures that had matured during the third quarter of 2016, one of which is held by a Director of the Company, accepted an offer of extension whereby the maturity dates of the convertible debentures are extended for two years and the conversion rate of the debentures and accrued interest into Common Stock of the Company is reduced from $0.05 to $0.025. In accordance with FASB ASC 470, this modification of the convertible debentures was recorded as a debt discount to the notes payable of approximately $13,200 with an offsetting credit to additional-paid in capital. In the three months ended March 31, 2017, the entire $13,200 was accreted through interest expense. The Company in 2012 and 2013 also granted warrants to purchase 691,365 shares of the Companys common stock at $0.02 per share to the holders of the debentures. The warrants are exercisable two years after issuance and expire seven years after issuance. The fair value of the warrants was determined using the Black-Scholes pricing model. The relative fair value of the warrants was recorded as a discount to the notes payable with an offsetting credit to additional paid-in capital since the Company determined that the warrants were an equity instrument in accordance with FASB ASC 815. The debt discount related to the warrant issuances was accreted through interest expense over the original term of the notes payable. For the three months ended June 30, 2017 and June 30, 2016, $0 and approximately $300, respectively, was accreted through interest expense. For the six months ended June 30, 2017 and June 30, 2016, $0 and approximately $500, respectively, was accreted through interest expense. The following table summarizes the Companys warrant position at June 30, 2017 and December 31, 2016: Weighted Average Number Exercise Exercise of Shares Price Price Outstanding warrants - December 31, 2016 721,365 $0.01 to $0.07 $ 0.021 Outstanding warrants - June 30, 2017 721,365 $0.01 to $0.07 $ 0.021 Weighted average remaining contractual life (years) 3.20 Exercisable warrants - June 30, 2017 721,365 $0.01 to $0.07 $ 0.021 Weighted average remaining contractual life (years) 3.20 |
Other Income (Expenses)
Other Income (Expenses) | 6 Months Ended |
Jun. 30, 2017 | |
Other Income and Expenses [Abstract] | |
Other Income (Expenses) | Note 6. Other Income (Expenses) Other income (expenses) in the three months and six months ended June 30, 2017 and June 30, 2016 includes interest on unsecured loans from two individuals and on convertible debentures held by nine investors. Also included in other income (expenses) is accretion of debt discounts in the six months ended June 30, 2017 related to the extension of the maturity dates of $33,300 of convertible debentures. |
Income Taxes
Income Taxes | 6 Months Ended |
Jun. 30, 2017 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 7. Income Taxes There is no provision for income taxes for the three months and six months ended June 30, 2017 due to the availability of net operating loss carryforwards. There is no income tax benefit for the losses for the three months and six months ended June 30, 2016 because the Company has determined that the realization of the net deferred tax asset is not assured. The Company has created a valuation allowance for the entire amount of such benefits. There was no change in unrecognized tax benefits during the period ended June 30, 2017 and there was no accrual for uncertain tax positions as of June 30, 2017. Tax years from 2013 through 2016 remain subject to examination by U.S. federal and state jurisdictions. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 8. Related Party Transactions During the six months ended June 30, 2017, and June 30, 2016 the Company paid $116,200 and $15,000, respectively, to Michael A. Feinstein, M.D., the Companys Chairman of the Board and Chief Executive Officer, representing a portion of previously deferred salary owed to him under an employment agreement with the Company. During each of the six month periods ended June 30, 2017 and June 30, 2016, Dr. Feinstein deferred $42,500 of salary. At June 30, 2017, Dr. Feinstein was owed approximately $227,500 of salary deferred by him. Since June 30, 2017, Dr. Feinstein has been paid approximately $11,800 of salary previously deferred by him. There is no interest payable on the deferred salary. |
Earnings (Loss) per Share
Earnings (Loss) per Share | 6 Months Ended |
Jun. 30, 2017 | |
Weighted average common shares outstanding | |
Earnings (Loss) per Share | Note 9. Earnings (Loss) per Share In accordance with Earnings per Share |
Major Customer and Geographic I
Major Customer and Geographic Information | 6 Months Ended |
Jun. 30, 2017 | |
Major Customer and Geographic Information [Abstract] | |
Major Customer and Geographic Information | Note 10. Major Customer and Geographic Information The Companys revenues, expressed as a percentage of total revenues, from non-affiliated customers that equaled 10% or more of the Companys total revenues were: Three Months ended June 30 Six Months ended June 30 2017 2016 2017 2016 Customer A 47 % 29 % 40 % 12 % Customer B 20 % 24 % 24 % 23 % Customer C 12 % 17 % 12 % 37 % The Companys non-affiliate customers whose individual balances amounted to more than 10% of the Companys net accounts receivable, expressed as a percentage of net accounts receivable, were: June 30 December 31 2017 2016 Customer A 44 % 26 % Customer B 25 % 47 % Customer C 14 % 5 % The Company performs ongoing credit evaluations of its customers and generally does not require collateral. The Company also maintains allowances for potential credit losses. The loss of a major customer could have a material adverse effect on the Companys business operations and financial condition. The Companys revenues by geographic region are as follows: Three Months ended June 30 Six Months ended June 30 2017 2016 2017 2016 North America $ 136,700 $ 100,400 $ 311,800 $ 226,400 Europe 200 200 Asia 215,300 95,600 374,200 245,000 Australia 7,400 7,400 14,800 14,800 $ 359,600 $ 203,400 $ 701,000 $ 486,200 |
Convertible Debentures (Tables)
Convertible Debentures (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Convertible Debt [Abstract] | |
Schedule of Warrants Outstanding | The following table summarizes the Companys warrant position at June 30, 2017 and December 31, 2016: Weighted Average Number Exercise Exercise of Shares Price Price Outstanding warrants - December 31, 2016 721,365 $0.01 to $0.07 $ 0.021 Outstanding warrants - June 30, 2017 721,365 $0.01 to $0.07 $ 0.021 Weighted average remaining contractual life (years) 3.20 Exercisable warrants - June 30, 2017 721,365 $0.01 to $0.07 $ 0.021 Weighted average remaining contractual life (years) 3.20 |
Major Customer and Geographic17
Major Customer and Geographic Information (Tables) | 6 Months Ended |
Jun. 30, 2017 | |
Segment Reporting [Abstract] | |
Schedule of Revenues from Non-affiliated Customers | The Companys revenues, expressed as a percentage of total revenues, from non-affiliated customers that equaled 10% or more of the Companys total revenues were: Three Months ended June 30 Six Months ended June 30 2017 2016 2017 2016 Customer A 47 % 29 % 40 % 12 % Customer B 20 % 24 % 24 % 23 % Customer C 12 % 17 % 12 % 37 % |
Schedule of Non-affiliated Customers with Accounts Receivable More Than 10% | The Companys non-affiliate customers whose individual balances amounted to more than 10% of the Companys net accounts receivable, expressed as a percentage of net accounts receivable, were: June 30 December 31 2017 2016 Customer A 44 % 26 % Customer B 25 % 47 % Customer C 14 % 5 % |
Schedule of Revenue by Geographic Region | The Companys revenues by geographic region are as follows: Three Months ended June 30 Six Months ended June 30 2017 2016 2017 2016 North America $ 136,700 $ 100,400 $ 311,800 $ 226,400 Europe 200 200 Asia 215,300 95,600 374,200 245,000 Australia 7,400 7,400 14,800 14,800 $ 359,600 $ 203,400 $ 701,000 $ 486,200 |
Going Concern (Details)
Going Concern (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Going Concern [Abstract] | |||||
Accumulated deficit | $ 13,077,800 | $ 13,077,800 | $ 13,192,200 | ||
Working capital deficit | 35,100 | 35,100 | |||
Operating income | 73,500 | $ (9,300) | 133,700 | $ 3,200 | 271,800 |
Stockholders' deficiency | $ 52,000 | $ 52,000 | $ 179,600 |
Stock Based Compensation (Detai
Stock Based Compensation (Details) | Jun. 30, 2017USD ($) |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Unrecognized portion of expense related to stock option grants | $ 0 |
Demand Loans (Details)
Demand Loans (Details) - USD ($) | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Debt Instrument [Line Items] | |||
Demand loans | $ 10,000 | $ 10,000 | |
Repayment of demand loans | $ 9,000 | ||
Unsecured loan [Member] | |||
Debt Instrument [Line Items] | |||
Demand loans | $ 10,000 | ||
Debt instrument, interest rate | 8.00% | ||
Repayment of demand loans | $ 9,000 |
Convertible Debentures (Narrati
Convertible Debentures (Narrative) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Mar. 31, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Debt Instrument [Line Items] | |||||
Interest expense | $ 3,100 | $ 3,400 | $ 19,300 | $ 6,800 | |
Convertible Debt [Member] | |||||
Debt Instrument [Line Items] | |||||
Convertible debt amount outstanding | 128,300 | 128,300 | |||
Convertible debt due during the third quarter of 2017 | 95,000 | 95,000 | |||
Convertible debt due during the third quarter of 2018 | $ 33,300 | $ 33,300 | |||
Debt instrument, interest rate | 7.00% | 7.00% | |||
Number of shares of common stock that can be purchased through warrants | 691,365 | 691,365 | |||
Price per share of warrants | $ 0.02 | $ 0.02 | |||
Warrant exercisable term | 2 years | 2 years | |||
Warrant expiration term | 7 years | 7 years | |||
Interest expense | $ 0 | $ 300 | $ 0 | $ 500 | |
Convertible Debt [Member] | Conversion Price One [Member] | |||||
Debt Instrument [Line Items] | |||||
Debt instrument, conversion price per share | $ 0.025 | $ 0.025 | |||
Convertible Debt [Member] | Conversion Price Two [Member] | |||||
Debt Instrument [Line Items] | |||||
Amount of principal that can be converted | $ 33,300 | ||||
Debt instrument, conversion price per share | $ 0.05 | $ 0.05 | |||
Debt discount recognized on notes payable | $ 13,200 | ||||
Accretion of debt discount recognized as interest expense | $ 13,200 |
Convertible Debentures (Warrant
Convertible Debentures (Warrants Activity) (Details) - Warrant [Member] - $ / shares | 6 Months Ended | |
Jun. 30, 2017 | Dec. 31, 2016 | |
Warrants | ||
Warrants outstanding | 721,365 | 721,365 |
Price | ||
Warrants outstanding | $ 0.021 | $ 0.021 |
Warrants outstanding exercise price range, lower limit | 0.01 | 0.01 |
Warrants outstanding exercise price range, upper limit | 0.07 | $ 0.07 |
Warrants exercisable exercise price range, lower limit | 0.01 | |
Warrants exercisable exercise price range, upper limit | $ 0.07 | |
Weighted average remaining contractual life | 3 years 2 months 12 days | |
Warrants exercisable, number | 721,365 | |
Warrants exercisable, weighted average exercise price | $ 0.021 | |
Warrants exercisable, weighted average remaining contractual life | 3 years 2 months 12 days |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Income Tax Contingency [Line Items] | ||||
Income tax provision | ||||
Change in unrecognized tax benefits during the period | ||||
Accrual for uncertain tax positions | ||||
Minimum [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Tax years open for examination | 2,013 | |||
Maximum [Member] | ||||
Income Tax Contingency [Line Items] | ||||
Tax years open for examination | 2,016 |
Related Party Transactions (Det
Related Party Transactions (Details) - Related Party [Member] - USD ($) | 1 Months Ended | 6 Months Ended | |
Aug. 10, 2017 | Jun. 30, 2017 | Jun. 30, 2016 | |
Related Party Transaction [Line Items] | |||
Deferred salary paid to related party | $ 116,200 | $ 15,000 | |
Portion of salary to related party deferred during period | 42,500 | $ 42,500 | |
Deferred salary owed to related party | $ 227,500 | ||
Subsequent Event [Member] | |||
Related Party Transaction [Line Items] | |||
Deferred salary paid to related party | $ 11,800 |
Earnings (Loss) per Share (Deta
Earnings (Loss) per Share (Details) - shares | 3 Months Ended | 6 Months Ended |
Jun. 30, 2017 | Jun. 30, 2017 | |
Weighted average common shares outstanding | ||
Number of incremental common shares resulting from the assumed conversion of warrants | 370,144 | 290,162 |
Major Customer and Geographic26
Major Customer and Geographic Information (Schedule of Revenues from Non-affiliated Customers) (Details) - Revenue [Member] | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Customer A [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Risk percentage | 47.00% | 29.00% | 40.00% | 12.00% |
Customer B [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Risk percentage | 20.00% | 24.00% | 24.00% | 23.00% |
Customer C [Member] | ||||
Revenue, Major Customer [Line Items] | ||||
Risk percentage | 12.00% | 17.00% | 12.00% | 37.00% |
Major Customer and Geographic27
Major Customer and Geographic Information (Schedule of Non-affiliated Customers with Accounts Receivable) (Details) - Accounts Receivable [Member] | 6 Months Ended | 12 Months Ended |
Jun. 30, 2017 | Dec. 31, 2016 | |
Customer A [Member] | ||
Concentration Risk [Line Items] | ||
Risk percentage | 44.00% | 26.00% |
Customer B [Member] | ||
Concentration Risk [Line Items] | ||
Risk percentage | 25.00% | 47.00% |
Customer C [Member] | ||
Concentration Risk [Line Items] | ||
Risk percentage | 14.00% | 5.00% |
Major Customer and Geographic28
Major Customer and Geographic Information (Schedule of Revenue by Geographic Region) (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | $ 359,600 | $ 203,400 | $ 701,000 | $ 486,200 |
North America [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 136,700 | 100,400 | 311,800 | 226,400 |
Europe [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 200 | 200 | ||
Asia [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | 215,300 | 95,600 | 374,200 | 245,000 |
Australia [Member] | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Revenues | $ 7,400 | $ 7,400 | $ 14,800 | $ 14,800 |