Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2018 | May 14, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | CTD HOLDINGS INC | |
Entity Central Index Key | 922,247 | |
Trading Symbol | ctdh | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 73,504,500 | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 609,559 | $ 1,270,973 |
Accounts receivable | 47,682 | 56,860 |
Inventory | 453,443 | 471,221 |
Current portion of mortgage note receivable | 35,884 | 35,884 |
Other current assets | 65,104 | 60,846 |
Total current assets | 1,211,672 | 1,895,784 |
FURNITURE AND EQUIPMENT, NET | 24,870 | 25,736 |
OTHER ASSETS | ||
Mortgage note receivable, less current portion | 164,194 | 167,128 |
TOTAL ASSETS | 1,400,736 | 2,088,648 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expenses | 993,079 | 943,030 |
Advance – private placement | 74,983 | |
Total current liabilities | 1,068,062 | 943,030 |
STOCKHOLDERS' EQUITY | ||
Common stock, par value $.0001 per share, 100,000,000 shares authorized, 72,991,361 shares issued and outstanding, at March 31, 2018 and December 31, 2017 | 7,299 | 7,299 |
Additional paid-in capital | 14,470,984 | 14,470,984 |
Accumulated deficit | (14,145,611) | (13,332,667) |
Total stockholders' equity | 332,674 | 1,145,618 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | 1,400,736 | 2,088,648 |
Series A Preferred Stock [Member] | ||
STOCKHOLDERS' EQUITY | ||
Preferred stock | ||
Series B Preferred Stock [Member] | ||
STOCKHOLDERS' EQUITY | ||
Preferred stock | $ 2 | $ 2 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Mar. 31, 2018 | Dec. 31, 2017 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 72,991,361 | 72,991,361 |
Common stock, shares outstanding (in shares) | 72,991,361 | 72,991,361 |
Series A Preferred Stock [Member] | ||
Preferred stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Series B Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 50,000 | 50,000 |
Preferred stock, shares outstanding (in shares) | 15,500 | 15,500 |
Preferred stock, shares issued (in shares) | 15,500 | 15,500 |
Preferred stock, liquidation preference | $ 1,550,000 | $ 1,550,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
REVENUES | ||
Product sales | $ 198,069 | $ 305,057 |
EXPENSES | ||
Personnel | 277,567 | 334,529 |
Cost of products sold (exclusive of amortization and depreciation, shown separately below) | 23,672 | 19,378 |
Research and development | 409,198 | 643,645 |
Repairs and maintenance | 2,792 | |
Professional fees | 233,976 | 123,800 |
Office and other | 47,867 | 132,189 |
Board of Director fees and costs | 15,783 | 46,807 |
Depreciation | 2,500 | 2,208 |
Freight and shipping | 1,882 | 1,461 |
Gain on disposal of furniture and equipment | (1,261) | |
1,012,445 | 1,295,548 | |
LOSS FROM OPERATIONS | (814,376) | (990,491) |
OTHER INCOME | ||
Investment and other income | 1,432 | 3,018 |
Total other income | 1,432 | 3,018 |
LOSS BEFORE INCOME TAXES | (812,944) | (987,473) |
Provision for income taxes | ||
NET LOSS | $ (812,944) | $ (987,473) |
BASIC AND FULLY DILUTED NET LOSS PER COMMON SHARE (in dollars per share) | $ (0.01) | $ (0.01) |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING (in shares) | 72,999,361 | 69,320,315 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (812,944) | $ (987,473) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 2,500 | 2,208 |
Gain on disposal of furniture and equipment | (1,261) | |
Accrued stock compensation to employees | 3,300 | 11,500 |
Accrued stock compensation to non-employees | 10,890 | 10,000 |
Increase or decrease in: | ||
Accounts receivable | 9,178 | (133,031) |
Inventory | 17,778 | (2,621) |
Other current assets | (4,258) | (8,033) |
Accounts payable and accrued expenses | 35,859 | (75,955) |
Total adjustments | 75,247 | (197,193) |
NET CASH USED IN OPERATING ACTIVITIES | (737,697) | (1,184,666) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Purchase of equipment | (1,634) | (1,605) |
Proceeds from sale of property, net of closing costs | 4,650 | |
Proceeds from mortgage note receivable | 2,934 | 8,466 |
NET CASH PROVIDED BY INVESTING ACTIVITIES | 1,300 | 11,511 |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from sale of common stock and warrants, net of issue costs | 1,851,055 | |
Advance – private placement | 74,983 | |
NET CASH PROVIDED BY FINANCING ACTIVITIES | 74,983 | 1,851,055 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (661,414) | 677,900 |
CASH AND CASH EQUIVALENTS, beginning of period | 1,270,973 | 960,197 |
CASH AND CASH EQUIVALENTS, end of period | 609,559 | 1,638,097 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION | ||
Cash paid for interest | ||
Cash paid for income taxes |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | ( 1 The following is a summary of the more significant accounting policies of CTD Holdings, Inc. and subsidiaries (the “Company”) that affect the accompanying consolidated financial statements. (a) ORGANIZATION AND OPERATIONS––The Company was incorporated in August 1990, July 1992. January 2017 1 September 2017. first July 2017. We also sell cyclodextrins and related products to the pharmaceutical, nutritional, and other industries, primarily for use in diagnostics and specialty drugs with continuing growth in research and new product development. However, our core business has transitioned to a biotechnology company primarily focused on the development of cyclodextrin-based biopharmaceuticals for the treatment of disease from a business which had been primarily reselling basic cyclodextrin products. (b) BASIS OF PRESENTATION––The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10 10 01 X. not Operating results for the three March 31, 2018 not may December 31, 2018. 10 December 31, 2017, April 16, 2018. (c) CASH AND CASH EQUIVALENTS––Cash and cash equivalents consist of cash and any highly liquid investments with an original maturity of three (d) ACCOUNTS RECEIVABLE––Accounts receivable are unsecured and non-interest bearing and stated at the amount we expect to collect from outstanding balances. Based on our assessment of the credit history with customers having outstanding balances and current relationships with them, an allowance for uncollectible accounts was not March 31, 2018 December 31, 2017. (e) INVENTORY AND COST OF PRODUCTS SOLD––Inventory consists of our pharmaceutical drug Trappsol® Cyclo™, cyclodextrin products and chemical complexes purchased for resale recorded at the lower of cost ( first first not $27,500 March 31, 2018 December 31, 2017. (f) EQUIPMENT––Equipment is recorded at cost, less accumulated depreciation. Depreciation on property is computed using primarily the straight-line method over the estimated useful lives of the assets (generally three five seven ten (g) REVENUE RECOGNITION––Effective January 1, 2018, 606 January 1, 2018 not not no Under the new revenue standards, revenues are recognized when our customer obtains control of promised goods or services, in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. We recognize revenues following the five No. 2014 09: Product revenues In the U.S. we sell our products to the end user or wholesale distributors. In other countries, we sell our products primarily to wholesale distributors and other third Revenues from product sales are recognized when the customer obtains control of our product, which occurs at a point in time, typically upon delivery to the customer. We expense incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that we would have recognized is one one Reserves for Discounts and Allowances Revenues from product sales are recorded net of reserves established for applicable discounts and allowances that are offered within contracts with our customers, health care providers or payors, including those associated with the implementation of pricing actions in certain of the international markets in which we operate. Our process for estimating reserves established for these variable consideration components do not Product revenue reserves, which are classified as a reduction in product revenues, are generally characterized in the following categories: discounts, contractual adjustments and returns. These reserves are based on estimates of the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable (if the amount is payable to our customer) or a liability (if the amount is payable to a party other than our customer). Our estimates of reserves established for variable consideration typically utilize the most likely method and reflect our historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. The transaction price, which includes variable consideration reflecting the impact of discounts and allowances, may not may For additional information on our revenues, please read Note 6, (h) RESEARCH AND DEVELOPMENT COSTS––Research and development costs are expensed as incurred. (i) INCOME TAXES––Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In addition, tax benefits related to positions considered uncertain are recognized only when it is more likely than not 50% (j) NET LOSS PER COMMON SHARE––Basic and fully diluted net loss per common share is computed using a simple weighted average of common shares outstanding during the periods presented, as outstanding warrants to purchase 28,500,478 15,085,787 three March 31, 2018 2017, (k) STOCK BASED COMPENSATION––The Company periodically awards stock to employees, directors, and consultants. An expense is recognized equal to the fair value of the stock determined using the closing trading price of the stock on the award date. (l) LIQUIDITY AND GOING CONCERN––For the three March 31, 2018 2017, $812,944 $987,473, $14,145,611 March 31, 2018. For year ended December 31, 2017, $3,062,000 $3,341,000 December 31, 2017, $1,271,000 $953,000. March 31, 2018, $609,559 $74,983 April 2018) $218,593. April 2018, $1,985,000, $74,983 March 2018, Our ability to obtain such additional capital will likely be subject to various factors, including our overall business performance and market conditions. If we cannot raise the additional funds required for our anticipated operations, we may We have incurred losses from operations in each of our last four not (m) USE OF ESTIMATES––The preparation of 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 amounts reported in the consolidated financial statements and accompanying notes, including contingencies. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could significantly differ from these estimates. (n) FAIR VALUE MEASUREMENTS AND DISCLOSURES -The Fair Value Measurements and Disclosures topic of the Accounting Standards Codification (“ASC”) requires companies to determine fair value based on the price that would be received to sell the asset or paid to transfer the liability to a market participant. The Fair Value Measurements and Disclosures topic emphasizes that fair value is a market-based measurement, not The guidance requires that assets and liabilities carried at fair value be classified and disclosed in one ● Level 1: ● Level 2: ● Level 3: not We have no March 31, 2018 December 31, 2017. For short-term classes of our financial instruments which are not March 31, 2018 December 31, 2017, |
Note 2 - Mortgage Note Receivab
Note 2 - Mortgage Note Receivable | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | ( 2 On January 21, 2016, $10,000 $265,000, $3,653, 4.25%, seven March 1, 2016, February 2023. |
Note 3 - Equity Transactions
Note 3 - Equity Transactions | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | ( 3 ) EQUITY TRANSACTIONS: The Company expensed $14,190 $21,500 three March 31, 2018 2017, March 31, 2017, 172,000 $67,100 eight In April 2018, 20,350 $100 $2,035,000. one 400 seven 400 $0.25 March 31, 2018, $74,983 March 31, 2018, $50,000. In October 2017, 15,500 $100 one seven 400 $0.25 $60,000, seven 600 $100 The Series B Preferred Stock will automatically convert into Common Stock on the date the Company effects an increase of its authorized shares of Common Stock and/or a reverse stock split of its Common Stock, so that the Company has a sufficient number of authorized and unissued shares of Common Stock to permit the conversion or exercise, as applicable, of all outstanding shares of preferred stock, warrants and other convertible securities. The Series B Preferred Stock has a liquidation preference of $100 not not On February 23, 2017, 5,754,832 $0.35 one seven $0.35, $2 $153,000, seven 164,074 $0.35 As of March 31, 2018, 20,532,331 $0.25 $1.00 2024. seven March 31, 2018 480,000 May 2016 $0.25 164,074 February 2017 $0.35 600 October 2017 $100 April 2018, 8,140,000 $0.25 |
Note 4 - Income Taxes
Note 4 - Income Taxes | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 4 ) INCOME TAXES: The Company reported a net loss for the three March 31, 2018 2017, |
Note 5 - Sales Concentrations
Note 5 - Sales Concentrations | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | ( 5 ) SALES CONCENTRATIONS: Sales to four 76% three March 31, 2018. one 52% three March 31, 2017. one |
Note 6 - Revenues
Note 6 - Revenues | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 6 : The Company operates in one 10% may 606 January 1, 2018 1 Revenues by product are summarized as follows: Three Months Ended March 31, 2018 March 31, 2017 Trappsol Cyclo $ 30,096 $ 26,390 Trappsol HPB 74,762 238,709 Trappsol research 61,025 20,775 Aquaplex 29,455 17,102 Other 2,731 2,081 Total revenues $ 198,069 $ 305,057 three March 31, 2018 no three March 31, 2017. one |
Note 7 - Subsequent Event
Note 7 - Subsequent Event | 3 Months Ended |
Mar. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | ( 7 ) SUBSEQUENT EVENT: In April 2018, 3. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2018 | |
Accounting Policies [Abstract] | |
Organization and Operations [Policy Text Block] | (a) ORGANIZATION AND OPERATIONS––The Company was incorporated in August 1990, July 1992. January 2017 1 September 2017. first July 2017. We also sell cyclodextrins and related products to the pharmaceutical, nutritional, and other industries, primarily for use in diagnostics and specialty drugs with continuing growth in research and new product development. However, our core business has transitioned to a biotechnology company primarily focused on the development of cyclodextrin-based biopharmaceuticals for the treatment of disease from a business which had been primarily reselling basic cyclodextrin products. |
Basis of Accounting, Policy [Policy Text Block] | (b) BASIS OF PRESENTATION––The accompanying consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and with the instructions to Form 10 10 01 X. not Operating results for the three March 31, 2018 not may December 31, 2018. 10 December 31, 2017, April 16, 2018. |
Cash and Cash Equivalents, Policy [Policy Text Block] | (c) CASH AND CASH EQUIVALENTS––Cash and cash equivalents consist of cash and any highly liquid investments with an original maturity of three |
Receivables, Policy [Policy Text Block] | (d) ACCOUNTS RECEIVABLE––Accounts receivable are unsecured and non-interest bearing and stated at the amount we expect to collect from outstanding balances. Based on our assessment of the credit history with customers having outstanding balances and current relationships with them, an allowance for uncollectible accounts was not March 31, 2018 December 31, 2017. |
Inventory, Policy [Policy Text Block] | (e) INVENTORY AND COST OF PRODUCTS SOLD––Inventory consists of our pharmaceutical drug Trappsol® Cyclo™, cyclodextrin products and chemical complexes purchased for resale recorded at the lower of cost ( first first not $27,500 March 31, 2018 December 31, 2017. |
Property, Plant and Equipment, Policy [Policy Text Block] | (f) EQUIPMENT––Equipment is recorded at cost, less accumulated depreciation. Depreciation on property is computed using primarily the straight-line method over the estimated useful lives of the assets (generally three five seven ten |
Revenue Recognition, Policy [Policy Text Block] | (g) REVENUE RECOGNITION––Effective January 1, 2018, 606 January 1, 2018 not not no Under the new revenue standards, revenues are recognized when our customer obtains control of promised goods or services, in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. We recognize revenues following the five No. 2014 09: Product revenues In the U.S. we sell our products to the end user or wholesale distributors. In other countries, we sell our products primarily to wholesale distributors and other third Revenues from product sales are recognized when the customer obtains control of our product, which occurs at a point in time, typically upon delivery to the customer. We expense incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that we would have recognized is one one Reserves for Discounts and Allowances Revenues from product sales are recorded net of reserves established for applicable discounts and allowances that are offered within contracts with our customers, health care providers or payors, including those associated with the implementation of pricing actions in certain of the international markets in which we operate. Our process for estimating reserves established for these variable consideration components do not Product revenue reserves, which are classified as a reduction in product revenues, are generally characterized in the following categories: discounts, contractual adjustments and returns. These reserves are based on estimates of the amounts earned or to be claimed on the related sales and are classified as reductions of accounts receivable (if the amount is payable to our customer) or a liability (if the amount is payable to a party other than our customer). Our estimates of reserves established for variable consideration typically utilize the most likely method and reflect our historical experience, current contractual and statutory requirements, specific known market events and trends, industry data and forecasted customer buying and payment patterns. The transaction price, which includes variable consideration reflecting the impact of discounts and allowances, may not may For additional information on our revenues, please read Note 6, |
Research and Development Expense, Policy [Policy Text Block] | (h) RESEARCH AND DEVELOPMENT COSTS––Research and development costs are expensed as incurred. |
Income Tax, Policy [Policy Text Block] | (i) INCOME TAXES––Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases. Deferred tax assets and liabilities are measured using enacted rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. In addition, tax benefits related to positions considered uncertain are recognized only when it is more likely than not 50% |
Earnings Per Share, Policy [Policy Text Block] | (j) NET LOSS PER COMMON SHARE––Basic and fully diluted net loss per common share is computed using a simple weighted average of common shares outstanding during the periods presented, as outstanding warrants to purchase 28,500,478 15,085,787 three March 31, 2018 2017, |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | (k) STOCK BASED COMPENSATION––The Company periodically awards stock to employees, directors, and consultants. An expense is recognized equal to the fair value of the stock determined using the closing trading price of the stock on the award date. |
Liquidity [Policy Text Block] | (l) LIQUIDITY AND GOING CONCERN––For the three March 31, 2018 2017, $812,944 $987,473, $14,145,611 March 31, 2018. For year ended December 31, 2017, $3,062,000 $3,341,000 December 31, 2017, $1,271,000 $953,000. March 31, 2018, $609,559 $74,983 April 2018) $218,593. April 2018, $1,985,000, $74,983 March 2018, Our ability to obtain such additional capital will likely be subject to various factors, including our overall business performance and market conditions. If we cannot raise the additional funds required for our anticipated operations, we may We have incurred losses from operations in each of our last four not |
Use of Estimates, Policy [Policy Text Block] | (m) USE OF ESTIMATES––The preparation of 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 amounts reported in the consolidated financial statements and accompanying notes, including contingencies. Although management bases its estimates on historical experience and assumptions that are believed to be reasonable under the circumstances, actual results could significantly differ from these estimates. |
Fair Value Measurement, Policy [Policy Text Block] | (n) FAIR VALUE MEASUREMENTS AND DISCLOSURES -The Fair Value Measurements and Disclosures topic of the Accounting Standards Codification (“ASC”) requires companies to determine fair value based on the price that would be received to sell the asset or paid to transfer the liability to a market participant. The Fair Value Measurements and Disclosures topic emphasizes that fair value is a market-based measurement, not The guidance requires that assets and liabilities carried at fair value be classified and disclosed in one ● Level 1: ● Level 2: ● Level 3: not We have no March 31, 2018 December 31, 2017. For short-term classes of our financial instruments which are not March 31, 2018 December 31, 2017, |
Note 6 - Revenues (Tables)
Note 6 - Revenues (Tables) | 3 Months Ended |
Mar. 31, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2018 March 31, 2017 Trappsol Cyclo $ 30,096 $ 26,390 Trappsol HPB 74,762 238,709 Trappsol research 61,025 20,775 Aquaplex 29,455 17,102 Other 2,731 2,081 Total revenues $ 198,069 $ 305,057 |
Note 1 - Summary of Significa15
Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Feb. 23, 2017 | Apr. 30, 2018 | Mar. 31, 2018 | Mar. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 |
Inventory Valuation Reserves, Ending Balance | $ 27,500 | $ 27,500 | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 28,500,478 | 15,085,787 | ||||
Net Income (Loss) Attributable to Parent, Total | $ (812,944) | $ (987,473) | ||||
Retained Earnings (Accumulated Deficit), Ending Balance | (14,145,611) | (13,332,667) | ||||
Net Cash Provided by (Used in) Operating Activities, Total | (737,697) | (1,184,666) | (3,062,000) | |||
Proceeds from Issuance or Sale of Equity, Net of Issuance Costs | 3,341,000 | |||||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | 609,559 | 1,638,097 | 1,270,973 | $ 960,197 | ||
Working Capital | 218,593 | 953,000 | ||||
Proceeds from Issuance of Private Placement | $ 2,000,000 | $ 1,985,000 | 74,983 | |||
Fair Value, Measurements, Recurring [Member] | ||||||
Assets, Fair Value Disclosure | 0 | 0 | ||||
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 | $ 0 | ||||
Computers and Vehicles [Member] | Minimum [Member] | ||||||
Property, Plant and Equipment, Useful Life | 3 years | |||||
Computers and Vehicles [Member] | Maximum [Member] | ||||||
Property, Plant and Equipment, Useful Life | 5 years | |||||
Machinery and Furniture [Member] | Minimum [Member] | ||||||
Property, Plant and Equipment, Useful Life | 7 years | |||||
Machinery and Furniture [Member] | Maximum [Member] | ||||||
Property, Plant and Equipment, Useful Life | 10 years |
Note 2 - Mortgage Note Receiv16
Note 2 - Mortgage Note Receivable (Details Textual) | Jan. 21, 2016USD ($) |
Proceeds from Sale of Property Held-for-sale | $ 10,000 |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Face Amount of Mortgages | 265,000 |
Mortgage Loans on Real Estate, Monthly Payment | $ 3,653 |
SEC Schedule, 12-29, Real Estate Companies, Investment in Mortgage Loans on Real Estate, Interest Rate | 4.25% |
Note 3 - Equity Transactions (D
Note 3 - Equity Transactions (Details Textual) - USD ($) | Feb. 23, 2017 | Apr. 30, 2018 | Oct. 31, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | Apr. 30, 2018 | Jun. 06, 2016 |
Allocated Share-based Compensation Expense, Total | $ 14,190 | $ 21,500 | |||||
Proceeds from Issuance of Private Placement | $ 2,000,000 | $ 1,985,000 | $ 74,983 | ||||
Warrants to Purchase Units Sold in May 2016 Private Placement [Member] | |||||||
Term of Warrant | 7 years | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 480,000 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | ||||||
Warrants to Purchase Units Sold in February 2017 Private Placement [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 164,074 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.35 | ||||||
Warrants to Purchase Units Sold in October 2017 Private Placement [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 600 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 100 | ||||||
Warrant [Member] | |||||||
Term of Warrant | 7 years | 7 years | 7 years | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 400 | 400 | 400 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.35 | $ 0.25 | $ 0.25 | $ 0.25 | |||
Class of Warrant or Right, Outstanding | 20,532,331 | ||||||
Warrant [Member] | Minimum [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | ||||||
Warrant [Member] | Maximum [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | ||||||
Private Placement [Member] | |||||||
Equity Units Issued During Period, Shares, New Issues | 5,754,832 | 20,350 | |||||
Share Price | $ 0.35 | $ 100 | $ 100 | $ 100 | |||
Proceeds from Issuance of Private Placement | $ 2,035,000 | ||||||
Equity Units, Number of Series B Convertible Preferred Stock in Each Unit | 1 | 1 | 1 | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 164,074 | 8,140,000 | 600 | 8,140,000 | |||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.25 | $ 0.25 | |||||
Payment for Cash Fee | $ 153,000 | $ 60,000 | $ 50,000 | ||||
Stock Issued During Period, Shares, New Issues | 15,500 | ||||||
Equity Units, Number of Common Shares in Each Unit | 1 | ||||||
Private Placement [Member] | Series B Preferred Stock [Member] | |||||||
Convertible Preferred Stock, Shares Issued upon Conversion | 400 | 400 | |||||
Preferred Stock, Liquidation Preference Per Share | $ 100 | ||||||
Employee, Board Members, and the Company Secretary [Member] | |||||||
Stock Issued During Period, Shares, Share-based Compensation, Gross | 172,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 67,100 |
Note 5 - Sales Concentrations (
Note 5 - Sales Concentrations (Details Textual) - Sales Revenue, Net [Member] - Customer Concentration Risk [Member] | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Number of Major Customers | 4 | 1 |
Four Major Customer [Member] | ||
Concentration Risk, Percentage | 76.00% | |
One Major Customer [Member] | ||
Concentration Risk, Percentage | 52.00% |
Note 6 - Revenues (Details Text
Note 6 - Revenues (Details Textual) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Number of Operating Segments | 1 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||
Number of Major Customers | 4 | 1 |
Aquaplex [Member] | Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | ||
Number of Major Customers | 1 |
Note 6 - Revenues - Revenues by
Note 6 - Revenues - Revenues by Product (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2018 | Mar. 31, 2017 | |
Revenues | $ 198,069 | $ 305,057 |
Trappsol Cyclo [Member] | ||
Revenues | 30,096 | 26,390 |
Trappsol HPB [Member] | ||
Revenues | 74,762 | 238,709 |
Trappsol Research [Member] | ||
Revenues | 61,025 | 20,775 |
Aquaplex [Member] | ||
Revenues | 29,455 | 17,102 |
Product and Service, Other [Member] | ||
Revenues | $ 2,731 | $ 2,081 |