Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2016 | Oct. 17, 2016 | |
Document And Entity Information | ||
Entity Registrant Name | Tiger X Medical, Inc. | |
Entity Central Index Key | 925,741 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2016 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 230,743,141 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2,016 |
CONSOLIDATED BALANCE SHEETS
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Sep. 30, 2016 | Dec. 31, 2015 |
Current assets | ||
Cash | $ 19,437 | $ 13,840 |
Prepaid expenses and other current assets | 46 | 36 |
Total assets | 19,483 | 13,876 |
Current liabilities | ||
Accounts payable and accrued expenses | 330 | 10 |
Total liabilities | 330 | 10 |
Stockholders' equity | ||
Common stock, $0.001 parvalue, 750,000,000 shares authorized, 230,743,141 and 230,293,141 shares issued and outstanding as of September 30, 2016 (unaudited) and December 31, 2015, respectively | 231 | 230 |
Additional paid-in capital | 25,776 | 25,768 |
Accumulated deficit | (6,854) | (12,132) |
Total stockholders' equity | 19,153 | 13,866 |
Total liabilities and stockholders' equity | $ 19,483 | $ 13,876 |
CONSOLIDATED BALANCE SHEETS (Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares | Sep. 30, 2016 | Dec. 31, 2015 |
Stockholders' equity: | ||
Common stock, par value per share | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |
Common stock, shares issued | 230,743,141 | 230,293,141 |
Common stock, shares outstanding | 230,743,141 | 230,293,141 |
CONSOLIDATED STATEMENTS OF INCO
CONSOLIDATED STATEMENTS OF INCOME - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Income Statement [Abstract] | ||||
Royalty income | $ 5,500 | $ 121 | $ 5,791 | $ 382 |
General and administrative expenses | 379 | 38 | 515 | 152 |
Income from operations | 5,121 | 83 | 5,276 | 230 |
Interest income | 0 | 0 | 2 | 2 |
Income before income tax provision | 5,121 | 83 | 5,278 | 232 |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net income | $ 5,121 | $ 83 | $ 5,278 | $ 232 |
Net income per share: | ||||
Basic and diluted | $ 0.02 | $ 0 | $ 0.02 | $ 0 |
Weighted average shares outstanding: | ||||
Basic and diluted | 230,537,706 | 230,293,141 | 230,375,258 | 230,293,141 |
CONSOLIDATED STATEMENTS OF CASH
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Sep. 30, 2015 | |
Cash flows from operating activities | ||
Net income | $ 5,278,000 | $ 232,000 |
Adjustments to reconcile net income to net cash used in operating activities: | ||
Stock-based compensation | 9,000 | 0 |
Changes in operating assets and liabilities: | ||
Prepaid expenses | (10,000) | (14,000) |
Accounts payable and accrued expenses | 320,000 | (1,000) |
Net cash provided by operating activities | 5,597,000 | 217,000 |
Net change in cash | 5,597,000 | 217,000 |
Cash, beginning of period | 13,840,000 | 13,509,000 |
Cash, end of period | 19,437,000 | 13,726,000 |
Supplemental disclosure of cash flow information: | ||
Interest paid | 0 | 0 |
Income taxes paid | $ 0 | $ 0 |
1. SUMMARY OF SIGNIFICANT ACCOU
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Tiger X Medical, Inc. ("Tiger X" or the "Company"), formerly known as Cardo Medical, Inc., a corporation organized and existing under and by the virtue of the General Corporation Law of the State of Delaware, previously operated as an orthopedic medical device company specializing in designing, developing and marketing high performance reconstructive joint devices and spinal surgical devices. During 2010, the Company discontinued its orthopedic medical device operations and sold the assets from its previous business lines during 2011. Through July 1, 2016, our continuing operations included the collection and management of our royalty income earned in connection with the Asset Purchase Agreement with Arthrex, Inc. ("Arthrex"). On August 22, 2016, the Company, Icicle Acquisition Corp., a Delaware corporation and a direct wholly-owned subsidiary of the Company ("Merger Sub"), and BioCardia, Inc., a Delaware corporation ("BioCardia"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which Merger Sub will merge with and into BioCardia, with BioCardia continuing as the surviving company under the name "BioCardia, Inc." (the "Merger"). The Company expects the Merger to close in October 2016. Basis of Presentation The accompanying condensed consolidated balance sheet as of December 31, 2015, which has been derived from the Company's audited financial statements as of that date, and the unaudited condensed consolidated financial information of the Company as of September 30, 2016 and for the three and nine months ended September 30, 2016 and 2015, has been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X. In the opinion of management, such financial information includes all adjustments considered necessary for a fair presentation of the Company's financial position at such date and the operating results and cash flows for such periods. Operating results for the interim period ended September 30, 2016 are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosure normally included in financial statements in accordance with U.S. GAAP have been omitted pursuant to the rules of the United States Securities and Exchange Commission ("SEC"). These unaudited financial statements should be read in conjunction with our audited financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 25, 2016. Principles of Consolidation The condensed consolidated financial statements include the accounts of Tiger X Medical, Inc., Accelerated Innovation, Inc. ("Accelerated"), Uni-Knee LLC ("Uni") and Cervical Xpand LLC ("Cervical"). All significant intercompany transactions have been eliminated in consolidation. Royalty Agreement On January 24, 2011, the Company entered into an Asset Purchase Agreement with Arthrex (the "Arthrex Asset Purchase Agreement"), pursuant to which the Company agreed to sell the assets of its joint arthroplasty division, referred to as the Reconstructive Division, to Arthrex. The Arthrex Asset Purchase Agreement also provided for the Company to receive royalty payments equal to 5% of net sales of the Company's products made by Arthrex on a quarterly basis for a term up to and including the 20th anniversary of the June 10, 2011 closing date. These amounts were reflected as royalty income on the accompanying condensed consolidated statements of income. On May 5, 2016, the Company entered into a Royalty Settlement and Release Agreement (the "Royalty Settlement and Release Agreement") with Arthrex, whereby Arthrex agreed to pay the Company $5,642,302 (the "Royalty Payment") in full satisfaction of all amounts due or payable, or which could become payable under the Arthrex Asset Purchase Agreement. Of the Royalty Payment, $142,302 of the amount represented royalty income due to the Company under the Arthrex Asset Purchase Agreement through the date of the Royalty Settlement and Release Agreement, and the remaining $5,500,000 represented the settlement of future royalties. The Royalty Settlement and Release Agreement became effective on July 1, 2016 upon the receipt of the Royalty Payment. Use of Estimates Financial statements prepared in accordance with U.S. GAAP require management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Among other things, management makes estimates relating to share- based payments and deferred income tax assets. Actual results could differ from those estimates. Revenue Recognition The Company's revenue consists of royalty income from Arthrex pursuant to the Arthrex Asset Purchase Agreement. Royalty income is recognized as the amount becomes known and collectability is reasonably assured. Net Income Per Share Basic net income per share is computed by using the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed giving effect to all dilutive potential common shares using various methods such as the treasury stock or modified treasury stock method in the determination of diluted shares outstanding at each reporting period. Dilutive potential common shares consist of incremental common shares issuable upon exercise of stock options. No dilutive potential common shares are included in the computation of any diluted per share amount because their impact was anti-dilutive. Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The likelihood of realizing the tax benefits related to a potential deferred tax asset is evaluated, and a valuation allowance is recognized to reduce that deferred tax asset if it is more likely than not that all or some portion of the deferred tax asset will not be realized. Deferred tax assets and liabilities are calculated at the beginning and end of the year; the change in the sum of the deferred tax asset, valuation allowance and deferred tax liability during the year generally is recognized as a deferred tax expense or benefit. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company evaluates the accounting for uncertainty in income tax recognized in its financial statements and determines whether it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit is recorded in its financial statements. For those tax positions where it is "not more likely than not" that a tax benefit will be sustained, no tax benefit is recognized. Where applicable, associated interest and penalties are also recorded. The Company has not accrued for any such uncertain tax positions as of September 30, 2016 (unaudited) or December 31, 2015. Concentration of Credit Risk The cash and cash equivalents held in the Company's business money market and other bank accounts are with local and national banking institutions and subjected to FDIC insurance limits of $250,000 per banking institution. As of September 30, 2016, the Company's balances in these bank accounts exceeded the insured amount by $19,187,000. Recent Accounting Pronouncements There are no recently issued accounting pronouncements that the Company has yet to adopt that are expected to have a material effect on its financial position, results of operations, or cash flows. |
2. SHARE BASED PAYMENT
2. SHARE BASED PAYMENT | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
2. SHARE BASED PAYMENT | NOTE 2 - SHARE BASED PAYMENT The Company has outstanding stock options issued to employees and board members which are exercisable at $0.23 per share. The options vest 20% each year over a five year period and expire after ten years. As of September 30, 2016, there were no unvested options. There was no stock option expense recognized for the nine months ended September 30, 2016 or 2015 in the accompanying condensed consolidated statements of income. A summary of stock option activity as of September 30, 2016, and changes during the period then ended is presented below. Weighted- Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Life (Years) Value Outstanding at December 31, 2015 385,000 $ 0.23 2.66 $ - Granted - - - - Exercised - - - - Forfeited (305,000) 0.23 - Outstanding at September 30, 2016 (unaudited) 80,000 $ 0.23 1.91 $ - Vested and expected to vest at September 30, 2016 (unaudited) 80,000 $ 0.23 1.91 $ - Exercisable at September 30, 2016 (unaudited) 80,000 $ 0.23 1.91 $ - On August 11, 2016, the Company granted an aggregate of 450,000 shares of restricted stock to its directors and a consultant. Pursuant to the stock award agreement, the grant of restricted stock of the Company vests in full on August 11, 2017 (the "Vesting Date"), subject to the recipient's continued service with the Company; provided, however, to the extent the recipient's service with the Company is terminated for any reason within thirty (30) days prior to or upon a Change in Control (as defined in the Agreement) prior to the Vesting Date, this grant of restricted stock will immediately and automatically vest in full. The Company recorded stock based compensation of approximately $9,000 related to this grant during the three and nine months ended September 30, 2016. Total unrecognized expense related to the restricted stock grant amounted to approximately $54,000, which will be recognized through the Vesting Date. |
3. STOCKHOLDERS' EQUITY
3. STOCKHOLDERS' EQUITY | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
3. STOCKHOLDERS' EQUITY | NOTE 3 - STOCKHOLDERS' EQUITY Our authorized capital consists of 750,000,000 shares of common stock and 50,000,000 shares of preferred stock. Our preferred stock may be designated into series pursuant to authority granted by our Certificate of Incorporation, and on approval from our Board of Directors. As of September 30, 2016 and December 31, 2015, we did not have any preferred stock issued. |
Summary of Significant Accounti
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2016 | |
Notes to Financial Statements | |
Summary of Significant Accounting Policies (Policies) | Tiger X Medical, Inc. ("Tiger X" or the "Company"), formerly known as Cardo Medical, Inc., a corporation organized and existing under and by the virtue of the General Corporation Law of the State of Delaware, previously operated as an orthopedic medical device company specializing in designing, developing and marketing high performance reconstructive joint devices and spinal surgical devices. During 2010, the Company discontinued its orthopedic medical device operations and sold the assets from its previous business lines during 2011. Through July 1, 2016, our continuing operations included the collection and management of our royalty income earned in connection with the Asset Purchase Agreement with Arthrex, Inc. ("Arthrex"). On August 22, 2016, the Company, Icicle Acquisition Corp., a Delaware corporation and a direct wholly-owned subsidiary of the Company ("Merger Sub"), and BioCardia, Inc., a Delaware corporation ("BioCardia"), entered into an Agreement and Plan of Merger (the "Merger Agreement"), pursuant to which Merger Sub will merge with and into BioCardia, with BioCardia continuing as the surviving company under the name "BioCardia, Inc." (the "Merger"). The Company expects the Merger to close in October 2016. |
Basis of Presentation | Basis of Presentation The accompanying condensed consolidated balance sheet as of December 31, 2015, which has been derived from the Company's audited financial statements as of that date, and the unaudited condensed consolidated financial information of the Company as of September 30, 2016 and for the three and nine months ended September 30, 2016 and 2015, has been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP") for interim financial information and with the instructions to Form 10-Q and Article 8-03 of Regulation S-X. In the opinion of management, such financial information includes all adjustments considered necessary for a fair presentation of the Company's financial position at such date and the operating results and cash flows for such periods. Operating results for the interim period ended September 30, 2016 are not necessarily indicative of the results that may be expected for the entire year. Certain information and footnote disclosure normally included in financial statements in accordance with U.S. GAAP have been omitted pursuant to the rules of the United States Securities and Exchange Commission ("SEC"). These unaudited financial statements should be read in conjunction with our audited financial statements and accompanying notes included in the Company's Annual Report on Form 10-K for the year ended December 31, 2015 filed with the SEC on March 25, 2016. |
Principles of Consolidation | Principles of Consolidation The condensed consolidated financial statements include the accounts of Tiger X Medical, Inc., Accelerated Innovation, Inc. ("Accelerated"), Uni-Knee LLC ("Uni") and Cervical Xpand LLC ("Cervical"). All significant intercompany transactions have been eliminated in consolidation. |
Royalty Agreement | Royalty Agreement On January 24, 2011, the Company entered into an Asset Purchase Agreement with Arthrex (the "Arthrex Asset Purchase Agreement"), pursuant to which the Company agreed to sell the assets of its joint arthroplasty division, referred to as the Reconstructive Division, to Arthrex. The Arthrex Asset Purchase Agreement also provided for the Company to receive royalty payments equal to 5% of net sales of the Company's products made by Arthrex on a quarterly basis for a term up to and including the 20th anniversary of the June 10, 2011 closing date. These amounts were reflected as royalty income on the accompanying condensed consolidated statements of income. On May 5, 2016, the Company entered into a Royalty Settlement and Release Agreement (the "Royalty Settlement and Release Agreement") with Arthrex, whereby Arthrex agreed to pay the Company $5,642,302 (the "Royalty Payment") in full satisfaction of all amounts due or payable, or which could become payable under the Arthrex Asset Purchase Agreement. Of the Royalty Payment, $142,302 of the amount represented royalty income due to the Company under the Arthrex Asset Purchase Agreement through the date of the Royalty Settlement and Release Agreement, and the remaining $5,500,000 represented the settlement of future royalties. The Royalty Settlement and Release Agreement became effective on July 1, 2016 upon the receipt of the Royalty Payment. |
Use of Estimates | Use of Estimates Financial statements prepared in accordance with U.S. GAAP require management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Among other things, management makes estimates relating to share-based payments and deferred income tax assets. Actual results could differ from those estimates. |
Revenue Recognition | Revenue Recognition The Company's revenue consists of royalty income from Arthrex pursuant to the Arthrex Asset Purchase Agreement. Royalty income is recognized as the amount becomes known and collectability is reasonably assured. |
Net Income Per Share | Net Income Per Share Basic net income per share is computed by using the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed giving effect to all dilutive potential common shares using various methods such as the treasury stock or modified treasury stock method in the determination of diluted shares outstanding at each reporting period. Dilutive potential common shares consist of incremental common shares issuable upon exercise of stock options. No dilutive potential common shares are included in the computation of any diluted per share amount because their impact was anti-dilutive. |
Income Taxes | Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases as well as operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The likelihood of realizing the tax benefits related to a potential deferred tax asset is evaluated, and a valuation allowance is recognized to reduce that deferred tax asset if it is more likely than not that all or some portion of the deferred tax asset will not be realized. Deferred tax assets and liabilities are calculated at the beginning and end of the year; the change in the sum of the deferred tax asset, valuation allowance and deferred tax liability during the year generally is recognized as a deferred tax expense or benefit. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. The Company evaluates the accounting for uncertainty in income tax recognized in its financial statements and determines whether it is more likely than not that a tax position will be sustained upon examination by the appropriate taxing authorities before any part of the benefit is recorded in its financial statements. For those tax positions where it is "not more likely than not" that a tax benefit will be sustained, no tax benefit is recognized. Where applicable, associated interest and penalties are also recorded. The Company has not accrued for any such uncertain tax positions as of September 30, 2016 (unaudited) or December 31, 2015. |
Concentration of Credit Risk | Concentration of Credit Risk The cash and cash equivalents held in the Company's business money market and other bank accounts are with local and national banking institutions and subjected to FDIC insurance limits of $250,000 per banking institution. As of September 30, 2016, the Company's balances in these bank accounts exceeded the insured amount by $19,187,000. |
Recent Accounting Pronouncements | Recent Accounting Pronouncements There are no recently issued accounting pronouncements that the Company has yet to adopt that are expected to have a material effect on its financial position, results of operations, or cash flows. |
Share Based Payment (Tables)
Share Based Payment (Tables) | 9 Months Ended |
Sep. 30, 2016 | |
Share Based Payment Tables | |
Summary of Stock Option Activity | A summary of stock option activity as of September 30, 2016, and changes during the period then ended is presented below. Weighted- Weighted- Average Average Remaining Aggregate Exercise Contractual Intrinsic Options Price Life (Years) Value Outstanding at December 31, 2015 385,000 $ 0.23 2.66 $ - Granted - - - - Exercised - - - - Forfeited (305,000) 0.23 - Outstanding at September 30, 2016 (unaudited) 80,000 $ 0.23 1.91 $ - Vested and expected to vest at September 30, 2016 (unaudited) 80,000 $ 0.23 1.91 $ - Exercisable at September 30, 2016 (unaudited) 80,000 $ 0.23 1.91 $ - |
Summary of Significant Accoun11
Summary of Significant Accounting Polices (Royalty Agreement) (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2016 | |
Summary Of Significant Accounting Polices Royalty Agreement Narrative Details | |
Royalty settlement of future royalties | On January 24, 2011, the Company entered into an Asset Purchase Agreement with Arthrex (the "Arthrex Asset Purchase Agreement"), pursuant to which the Company agreed to sell the assets of its joint arthroplasty division, referred to as the Reconstructive Division, to Arthrex. The Arthrex Asset Purchase Agreement also provided for the Company to receive royalty payments equal to 5% of net sales of the Company's products made by Arthrex on a quarterly basis for a term up to and including the 20th anniversary of the June 10, 2011 closing date. These amounts were reflected as royalty income on the accompanying condensed consolidated statements of income. On May 5, 2016, the Company entered into a Royalty Settlement and Release Agreement (the "Royalty Settlement and Release Agreement") with Arthrex, whereby Arthrex agreed to pay the Company $5,642,302 (the "Royalty Payment") in full satisfaction of all amounts due or payable, or which could become payable under the Arthrex Asset Purchase Agreement. Of the Royalty Payment, $142,302 of the amount represented royalty income due to the Company under the Arthrex Asset Purchase Agreement through the date of the Royalty Settlement and Release Agreement, and the remaining $5,500,000 represented the settlement of future royalties. The Royalty Settlement and Release Agreement became effective on July 1, 2016 upon the receipt of the Royalty Payment. |
Royalty Settlement and Release Agreement date | Jul. 1, 2016 |
Summary of Significant Accoun12
Summary of Significant Accounting Polices (Concentration of Credit Risk) (Narrative) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Summary Of Significant Accounting Polices Concentration Of Credit Risk Narrative Details | ||
FDIC current limits on bank accounts per banking institution | $ 250,000 | $ 250,000 |
Company bank balances in these bank accounts exceeding the insured amount | $ 19,187,000 |
Summary of Significant Accoun13
Summary of Significant Accounting Polices (Income Taxes) (Narrative) (Details) - USD ($) | Sep. 30, 2016 | Dec. 31, 2015 |
Summary Of Significant Accounting Polices Income Taxes Narrative Details | ||
Accrual for uncertain tax positions | $ 0 | $ 0 |
Share-Based Payment (Stock Opti
Share-Based Payment (Stock Option Activity) (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Share-based Payment Stock Option Activity Details | ||
Outstanding at beginning of period | 385,000 | |
Granted | 0 | |
Exercised | 0 | |
Forfeited | (305,000) | |
Outstanding at end of period (unaudited) | 80,000 | |
Vested and expected to vest at September 30, 2016 (unaudited) | 80,000 | |
Exercisable at September 30, 2016 (unaudited) | 80,000 | |
Weighted-average exercise price of options outstanding, beginning balance | $ 0.23 | |
Weighted-average exercise price of options granted during period | 0 | |
Weighted-average exercise price of options exercised during the period | 0 | |
Weighted-average exercise price of options forfeited, cancelled or expired during the period | 0.23 | |
Weighted-average exercise price of options outstanding, ending balance | 0.23 | |
Weighted-average exercise price of options vested and expected to vest | 0.23 | |
Weighted-average exercise price of options exercisable | $ 0.23 | |
Weighted-average remaining contractual term (in years) of options outstanding at December 31, 2015 | 2 years 238 days | |
Weighted-average remaining contractual term (in years) of options outstanding at September 30, 2016 | 1 year 328 days | |
Weighted-average remaining contractual term (in years) of options vested and expected to vest | 1 year 328 days | |
Weighted-average remaining contractual term (in years) of options exercisable | 1 year 328 days | |
Aggregate intrinsic value of options outstanding | $ 0 | $ 0 |
Aggregate intrinsic value of options vested and expected to vest | 0 | |
Aggregate intrinsic value of options exercisable | $ 0 |
Share-Based Payment (Narrative)
Share-Based Payment (Narrative) (Details 1) - $ / shares | 9 Months Ended | |
Sep. 30, 2016 | Dec. 31, 2015 | |
Share-based Payment Narrative Details 1 | ||
Option grant exercise price | $ 0.23 | $ 0.23 |
Option vesting period, in years | 5 years | |
Option expiration period, in years | 10 years |
Share-Based Payment (Narrativ16
Share-Based Payment (Narrative) (Details 2) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2016 | Sep. 30, 2015 | Sep. 30, 2016 | Sep. 30, 2015 | |
Share-based Payment Narrative Details 2 | ||||
Share-based compensation expense | $ 9,000 | $ 0 | $ 9,000 | $ 0 |
Unamortized stock-based compensation expense related to unvested stock awards | $ 54,000 | $ 54,000 | ||
Weighted average period of recognition for unrecognized compensation costs (in years) | 10 months | |||
Stock Issued During Period, Shares, Issued for Services | 450,000 |
Stockholders' Equity (Narrative
Stockholders' Equity (Narrative) (Details) - shares | Sep. 30, 2016 | Dec. 31, 2015 |
Stockholders Equity Narrative Details | ||
Preferred Shares Authorized | 50,000,000 | 50,000,000 |
Preferred Shares Outstanding | 0 | 0 |
Common stock, shares authorized | 750,000,000 | 750,000,000 |