Document And Entity Information
Document And Entity Information - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Mar. 25, 2019 | Jun. 30, 2018 | |
Document Information [Line Items] | |||
Entity Registrant Name | CurAegis Technologies, Inc. | ||
Entity Central Index Key | 0001063197 | ||
Trading Symbol | crgs | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Common Stock, Shares Outstanding (in shares) | 50,400,545 | ||
Entity Public Float | $ 13,528 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2018 | ||
Document Fiscal Year Focus | 2018 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Current Assets: | ||
Cash | $ 53,000 | $ 194,000 |
Accounts receivable | 8,000 | |
Inventory (net) | 1,744,000 | |
Prepaid expenses and other current assets | 25,000 | 27,000 |
Total current assets | 78,000 | 1,973,000 |
Software (net) | 10,000 | 102,000 |
Property and equipment (net) | 62,000 | 125,000 |
Total non-current assets | 72,000 | 227,000 |
Total Assets | 150,000 | 2,200,000 |
Current Liabilities: | ||
Accounts payable | 323,000 | 167,000 |
Liability for inventory held at vendor | 1,462,000 | 1,678,000 |
Other current liabilities | 75,000 | 110,000 |
Accrued interest | 166,000 | 87,000 |
Total current liabilities | 2,026,000 | 2,042,000 |
Non-current lease obligation | 3,000 | |
Senior convertible notes (net) | 6,603,000 | 3,563,000 |
Total Liabilities | 8,629,000 | 5,608,000 |
Commitments and other matters (Note 14) | ||
Stockholders' (Deficiency): | ||
Common stock, $.01 par value, 400,000,000 shares authorized; shares issued and outstanding at December 31, 2018 and 2017: 50,364,549 and 48,979,546, respectively | 504,000 | 490,000 |
Additional paid-in capital | 77,725,000 | 76,494,000 |
Accumulated deficiency | (87,149,000) | (80,841,000) |
Total Stockholders' (Deficiency) | (8,479,000) | (3,408,000) |
Total Liabilities and Stockholders' (Deficiency) | 150,000 | 2,200,000 |
Preferred Class C [Member] | ||
Stockholders' (Deficiency): | ||
Preferred stock, value | 157,000 | 159,000 |
Series C2 Preferred Stock [Member] | ||
Stockholders' (Deficiency): | ||
Preferred stock, value | 245,000 | 250,000 |
Series C3 Preferred Stock [Member] | ||
Stockholders' (Deficiency): | ||
Preferred stock, value | 33,000 | 34,000 |
Preferred Class A [Member] | ||
Stockholders' (Deficiency): | ||
Preferred stock, value | 5,000 | 5,000 |
Preferred Class B [Member] | ||
Stockholders' (Deficiency): | ||
Preferred stock, value | $ 1,000 | $ 1,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2018 | Dec. 31, 2017 |
Preferred stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 |
Common stock, shares issued (in shares) | 50,364,549 | 48,979,546 |
Common stock, shares outstanding (in shares) | 50,364,549 | 48,979,546 |
Preferred Class C [Member] | ||
Preferred stock, cumulative dividend per share (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares issued (in shares) | 15,687,500 | 15,937,500 |
Preferred stock, shares outstanding (in shares) | 15,687,500 | 15,937,500 |
Series C2 Preferred Stock [Member] | ||
Preferred stock, cumulative dividend per share (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares issued (in shares) | 24,500,000 | 25,000,000 |
Preferred stock, shares outstanding (in shares) | 24,500,000 | 25,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | |
Series C3 Preferred Stock [Member] | ||
Preferred stock, cumulative dividend per share (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares issued (in shares) | 3,268,000 | 3,388,000 |
Preferred stock, shares outstanding (in shares) | 3,268,000 | 3,388,000 |
Preferred Class A [Member] | ||
Preferred stock, cumulative dividend per share (in dollars per share) | $ 0.40 | $ 0.40 |
Preferred stock, shares issued (in shares) | 468,221 | 468,221 |
Preferred stock, shares outstanding (in shares) | 468,221 | 468,221 |
Preferred stock, shares authorized (in shares) | 3,300,000 | |
Preferred Class B [Member] | ||
Preferred stock, cumulative dividend per share (in dollars per share) | $ 0.50 | $ 0.50 |
Preferred stock, shares issued (in shares) | 67,500 | 67,500 |
Preferred stock, shares outstanding (in shares) | 67,500 | 67,500 |
Preferred stock, shares authorized (in shares) | 300,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue and costs: | ||
CURA revenue | $ 37,000 | $ 39,000 |
Cost of revenue | 110,000 | 161,000 |
Loss on revenue | (73,000) | (122,000) |
Inventory reserve | 1,741,000 | |
Impairment loss | 17,000 | 357,000 |
Engineering and development | 1,262,000 | 1,502,000 |
General and administrative | 2,159,000 | 2,749,000 |
Total costs and expenses | 5,179,000 | 4,608,000 |
Loss from operations | (5,252,000) | (4,730,000) |
Interest expense | (1,057,000) | (765,000) |
Gain on extinguishment of debt | 70,000 | |
Other income | 1,000 | 2,000 |
(1,056,000) | (693,000) | |
Loss before income taxes | (6,308,000) | (5,423,000) |
Income taxes | ||
Net loss | (6,308,000) | (5,423,000) |
Preferred stock dividends | 218,000 | 248,000 |
Net loss attributable to common stockholders | $ (6,526,000) | $ (5,671,000) |
Net loss per share attributable to common stockholders | ||
Basic and Diluted (in dollars per share) | $ (0.13) | $ (0.12) |
Weighted average number of shares of common stock | ||
Basic and Diluted (in shares) | 49,781,000 | 48,032,000 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' (Deficit) - USD ($) | Conversion of Preferred A to Common Shares [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Conversion of Preferred A to Common Shares [Member]Preferred Stock [Member]Series C2 Preferred Stock [Member] | Conversion of Preferred A to Common Shares [Member]Preferred Stock [Member]Series C3 Preferred Stock [Member] | Conversion of Preferred A to Common Shares [Member]Preferred Stock [Member]Preferred Class A [Member] | Conversion of Preferred A to Common Shares [Member]Preferred Stock [Member]Preferred Class B [Member] | Conversion of Preferred A to Common Shares [Member]Common Stock [Member] | Conversion of Preferred A to Common Shares [Member]Additional Paid-in Capital [Member] | Conversion of Preferred A to Common Shares [Member]Retained Earnings [Member] | Conversion of Preferred A to Common Shares [Member] | Conversion of Preferred C to Common Share [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Conversion of Preferred C to Common Share [Member]Preferred Stock [Member]Series C2 Preferred Stock [Member] | Conversion of Preferred C to Common Share [Member]Preferred Stock [Member]Series C3 Preferred Stock [Member] | Conversion of Preferred C to Common Share [Member]Preferred Stock [Member]Preferred Class A [Member] | Conversion of Preferred C to Common Share [Member]Preferred Stock [Member]Preferred Class B [Member] | Conversion of Preferred C to Common Share [Member]Common Stock [Member] | Conversion of Preferred C to Common Share [Member]Additional Paid-in Capital [Member] | Conversion of Preferred C to Common Share [Member]Retained Earnings [Member] | Conversion of Preferred C to Common Share [Member] | Conversion of Preferred C3 to Common Stock [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Conversion of Preferred C3 to Common Stock [Member]Preferred Stock [Member]Series C2 Preferred Stock [Member] | Conversion of Preferred C3 to Common Stock [Member]Preferred Stock [Member]Series C3 Preferred Stock [Member] | Conversion of Preferred C3 to Common Stock [Member]Preferred Stock [Member]Preferred Class A [Member] | Conversion of Preferred C3 to Common Stock [Member]Preferred Stock [Member]Preferred Class B [Member] | Conversion of Preferred C3 to Common Stock [Member]Common Stock [Member] | Conversion of Preferred C3 to Common Stock [Member]Additional Paid-in Capital [Member] | Conversion of Preferred C3 to Common Stock [Member]Retained Earnings [Member] | Conversion of Preferred C3 to Common Stock [Member] | Conversion of Preferred C2 to Common Stock [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Conversion of Preferred C2 to Common Stock [Member]Preferred Stock [Member]Series C2 Preferred Stock [Member] | Conversion of Preferred C2 to Common Stock [Member]Preferred Stock [Member]Series C3 Preferred Stock [Member] | Conversion of Preferred C2 to Common Stock [Member]Preferred Stock [Member]Preferred Class A [Member] | Conversion of Preferred C2 to Common Stock [Member]Preferred Stock [Member]Preferred Class B [Member] | Conversion of Preferred C2 to Common Stock [Member]Common Stock [Member] | Conversion of Preferred C2 to Common Stock [Member]Additional Paid-in Capital [Member] | Conversion of Preferred C2 to Common Stock [Member]Retained Earnings [Member] | Conversion of Preferred C2 to Common Stock [Member] | Conversion of Convertible Notes for Common Stock [Member]Preferred Stock [Member]Series C Preferred Stock [Member] | Conversion of Convertible Notes for Common Stock [Member]Preferred Stock [Member]Series C2 Preferred Stock [Member] | Conversion of Convertible Notes for Common Stock [Member]Preferred Stock [Member]Series C3 Preferred Stock [Member] | Conversion of Convertible Notes for Common Stock [Member]Preferred Stock [Member]Preferred Class A [Member] | Conversion of Convertible Notes for Common Stock [Member]Preferred Stock [Member]Preferred Class B [Member] | Conversion of Convertible Notes for Common Stock [Member]Common Stock [Member] | Conversion of Convertible Notes for Common Stock [Member]Additional Paid-in Capital [Member] | Conversion of Convertible Notes for Common Stock [Member]Retained Earnings [Member] | Conversion of Convertible Notes for Common Stock [Member] | Preferred Stock [Member]Series C Preferred Stock [Member] | Preferred Stock [Member]Series C2 Preferred Stock [Member] | Preferred Stock [Member]Series C3 Preferred Stock [Member] | Preferred Stock [Member]Preferred Class A [Member] | Preferred Stock [Member]Preferred Class B [Member] | Common Stock [Member]Preferred Class A [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Series C2 Preferred Stock [Member] | Series C3 Preferred Stock [Member] | Preferred Class A [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 16,000,000 | 25,000,000 | 5,022,000 | 543,221 | 67,500 | 47,066,765 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2016 | $ 160,000 | $ 250,000 | $ 50,000 | $ 5,000 | $ 1,000 | $ 470,000 | $ 76,065,000 | $ (75,418,000) | $ 1,583,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Conversion Preferred to common shares (in shares) | (75,000) | 75,000 | (62,500) | 62,500 | (1,634,000) | 1,634,000 | 75,000 | 1,634,000 | 0 | 1,872,781 | ||||||||||||||||||||||||||||||||||||||||||||||||
Conversion Preferred to common shares | $ 1,000 | $ 1,000 | $ (1,000) | $ 1,000 | $ (16,000) | $ 16,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred A dividends paid in common shares (in shares) | 101,281 | 101,281 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Preferred A dividends paid in common shares | $ 1,000 | (1,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise common stock warrant (in shares) | 40,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise common stock warrant | $ 1,000 | 9,000 | 10,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | 159,000 | 159,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of warrants with convertible note | 262,000 | 262,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Loss | (5,423,000) | (5,423,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2017 | 15,937,500 | 25,000,000 | 3,388,000 | 468,221 | 67,500 | 48,979,546 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2017 | $ 159,000 | $ 250,000 | $ 34,000 | $ 5,000 | $ 1,000 | $ 490,000 | 76,494,000 | (80,841,000) | $ (3,408,000) | |||||||||||||||||||||||||||||||||||||||||||||||||
Conversion Preferred to common shares (in shares) | (250,000) | 250,000 | (120,000) | 120,000 | (500,000) | 500,000 | 190,150 | 500,000 | 120,000 | 874,000 | ||||||||||||||||||||||||||||||||||||||||||||||||
Conversion Preferred to common shares | $ (2,000) | $ 2,000 | $ (1,000) | $ 1,000 | $ (5,000) | $ 5,000 | $ 2,000 | $ 47,000 | $ 49,000 | |||||||||||||||||||||||||||||||||||||||||||||||||
Exercise common stock warrant (in shares) | 4,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise common stock warrant | $ 1,000 | 1,000 | $ 2,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock-based compensation | 180,000 | 180,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of warrants with convertible note | 557,000 | 557,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Loss | (6,308,000) | (6,308,000) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Beneficial conversion feature on convertible note | 369,000 | 369,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common shares issued for interest (in shares) | 320,853 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common shares issued for interest | $ 3,000 | 77,000 | 80,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2018 | 15,687,500 | 24,500,000 | 3,268,000 | 468,221 | 67,500 | 50,364,549 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 157,000 | $ 245,000 | $ 33,000 | $ 5,000 | $ 1,000 | $ 504,000 | $ 77,725,000 | $ (87,149,000) | $ (8,479,000) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (6,308,000) | $ (5,423,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 138,000 | 180,000 |
Amortization of discount reported as interest | 627,000 | 535,000 |
Stock-based compensation | 180,000 | 159,000 |
Inventory reserve | 1,741,000 | |
Impairment loss | 17,000 | 357,000 |
Interest paid in shares | 81,000 | |
Gain on extinguishment of debt | (70,000) | |
Changes in working capital items: | ||
Accounts receivable | 8,000 | 2,000 |
Inventory | (1,720,000) | |
Prepaid expenses and other current assets | 2,000 | 21,000 |
Accounts payable and other current liabilities | (16,000) | 1,737,000 |
Net cash used in operating activities | (3,530,000) | (4,222,000) |
Cash flows from investing activities: | ||
Purchase of software, property and equipment | (420,000) | |
Net cash used in investing activities | (420,000) | |
Cash flows from financing activities: | ||
Proceeds from issuance of senior convertible note (net) | 3,388,000 | 2,817,000 |
Proceeds from exercise of common stock warrant | 1,000 | 10,000 |
Repayment of capital lease obligation | ||
Net cash provided by financing activities | 3,389,000 | 2,827,000 |
Net (decrease) in cash | (141,000) | (1,815,000) |
Cash at beginning of year | 194,000 | 2,009,000 |
Cash at end of year | 53,000 | 194,000 |
Supplemental Disclosures: | ||
Cash used for payment of interest expense | 271,000 | 172,000 |
Debt discount related to warrants and beneficial conversion feature | 933,000 | 262,000 |
Common shares issued in payment of interest expense | 80,000 | |
Common shares issued upon conversion of debt | 49,000 | |
Conversion of preferred shares to common | 8,000 | 18,000 |
Conversion of preferred dividends to common | $ 405,000 |
Note 1 - The Company and Basis
Note 1 - The Company and Basis of Presentation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1 CurAegis Technologies, Inc. (“CurAegis”, “the Company”) was incorporated as a New York business corporation in September 1996 2016 two The Company develops and markets advanced technologies in the areas of safety, wellness and power. The Company is focused on the commercialization of a wellness and safety system (the CURA System) and a uniquely designed hydraulic pump that will be smaller, lighter, less expensive and more efficient than current technology. The Company has not The Company has created the CURA System to market products that reduce fatigue risk in the workplace and help individuals manage their sleep and improve alertness. The CURA System consists of the following capabilities: ● real-time alertness utilizing the CURA app, ● the Group Wellness Index and ● the Z-Coach wellness program. The Aegis hydraulic pump technology has been designed to bring to the marketplace a unique concept in hydraulic pumps and motors that will be: ● smaller, lighter and less expensive than conventional pumps and motors, ● more efficient, ● as reliable, and ● unique in its ability to scale larger, allowing more powerful pumps and motors. It is important to note, regarding both the CURA and Aegis products, that the cycle time from the initiation of the sales process to revenue realization can be highly variable especially as a start-up entity. In addition to the activities to be undertaken to implement our plan of operations, we may Current Cash Outlook and Management Plans As of December 31, 2018, $53,000, $1,948,000, $8,479,000 $87,149,000. December 31, 2018 $3,388,000 Management estimates that the 2019 $3 $3.5 fourth 2018. December 31, 2018, not Since inception, we have financed our operations by the sale of our securities and debt financings. We need to raise additional funds to meet our working capital needs, to fund expansion of our business, to complete development, testing and marketing of our products, or to make strategic acquisitions or investments. No may not The Company’s ability to fund its current and future commitments from its available cash depends on a number of factors. These factors include the Company’s ability to (i) launch and generate sales from the CURA division; (ii) generate revenue from the licensing or sale of our hydraulic technologies or; (iii) decrease engineering and development and administrative expenses. If these and other factors are not no |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2 Consolidation: 56% December 31, 2018, Use of Estimates: Reclassifications: may Cash: may $15,000. Inventory December 31, 2018 $1,747,000. December 31, 2017, $6,000 Accounts Receivable not zero December 31, 2018 December 31, 2017. Software, Property and Equipment: Software (in years) 3 Office equipment (in years) 5 - 7 Leasehold improvements lesser of useful life or lease term Depreciation and amortization are computed using the straight-line method. Betterments, renewals and significant repairs that extend the life of the assets are capitalized. Other repairs and maintenance costs are expensed when incurred. When disposed, the cost and accumulated depreciation applicable to assets retired are removed from the accounts and the gain or loss on disposition is recognized in other income (expense). Depreciation and software amortization expense for the years ended December 31, 2018 2017 $138,000 $180,000, Whenever events or circumstances indicate, our long-lived assets including any intangible assets with finite useful lives are tested for impairment by using the estimated future cash flows directly associated with, and that are expected to arise as a direct result of, the use of the assets. If the carrying amount exceeds the estimated undiscounted cash flows, impairment may During the year ended December 31, 2018 $17,000 December 31, 2017 $357,000 Fair Value of Financial Instruments: , one three Level 1: Level 2: Level 3: not The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 3 December 31, 2018 2017. $6,134,000 December 31, 2018 December 31, 2018. Revenue Recognition and Deferred Revenue: January 1, 2018, 606, no 606. not not two The Company's net revenue is derived primarily from domestic customers. For the year ended December 31, 2018 $26,000 $11,000. 78% December 31, 2018. 30 CURA revenue is recognized (a) upon receipt of payment at the point of sale of the CURA app, (b) upon the delivery of myCadian products and (c) upon the company’s satisfaction of all performance obligations as described in customer agreements. The Z-Coach Program provides fatigue training over an annual subscription period of twelve 30 93% 2018. Engineering and Development and Patents: December 31, 2018 2017 $150,000 $146,000, Stock-based Compensation: 718 10 may 718 10. No During 2018, 2018 07, 718 20 January 1, 2018 $10,000 Income Taxes: not not We account for uncertain tax positions using a more-likely-than- not not not December 31, 2018, December 31, 2017, no In 2016, 2016 09, 718 first 2017 $1,684,000 no Loss per Common Share: 260 10 December 31, 2018 2017, 94,784,206 80,288,000 625,000 December 31, 2018 2017 not Recent Accounting Pronouncements: February 25, 2016, No. 2016 02, December 15, 2018, December 31, 2018 $224,000 |
Note 3 - Inventory and Related
Note 3 - Inventory and Related Vendor Liability | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 3 The Company had the following inventory held at our manufacturing vendor and on hand as of December 31, 2018 2017: December 31, 2018 2017 Raw materials $ 1,678,000 $ 1,681,000 Finished goods 69,000 69,000 1,747,000 1,750,000 Less: Reserve (1,747,000 ) (6,000 ) Inventory (net) $ - $ 1,744,000 Liability for inventory held at vendor $ 1,462,000 $ 1,678,000 During 2017, third December 31, 2018, $1,678,000 $1,462,000 During the third 2018, $1,741,000 |
Note 4 - Senior Convertible Not
Note 4 - Senior Convertible Notes and Warrants | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 4 - SENIOR CONVERTIBLE NOTES AND WARRANTS At December 31, 2018, $9,160,000 $2,557,000, $6,603,000. December 31, 2017, $5,825,000 $2,262,000 $3,563,000. none twelve December 31, 2019 2020, $2,990,000 2021, $2,775,000 2022 $3,395,000 2023. As of December 31, 2018, $2,252,500 six $1,170,000 Total JULY 2018 Convertible Notes 2018 Convertible Notes 2017 6% Convertible Notes 2016 6% Convertible Notes Face value December 31, 2017 $ 5,825,000 $ - $ - $ 2,825,000 $ 3,000,000 Notes issued in 2018 (gross) 3,395,000 1,175,000 625,000 1,595,000 - Notes converted in 2018 (60,000 ) - - (50,000 ) (10,000 ) Face value December 31, 2018 $ 9,160,000 $ 1,175,000 $ 625,000 $ 4,370,000 $ 2,990,000 Debt discount December 31, 2017 $ (2,262,000 ) $ - $ - $ (261,000 ) $ (2,001,000 ) Debt discount on notes issued 2018 (933,000 ) (380,000 ) (250,000 ) (303,000 ) - Amortization of discount reported as interest 627,000 20,000 19,000 105,000 483,000 Debt converted in 2018 (net) 11,000 - - 3,000 8,000 Debt discount December 31, 2018 $ (2,557,000 ) $ (360,000 ) $ (231,000 ) $ (456,000 ) $ (1,510,000 ) Senior Convertible Notes (net) $ 6,603,000 $ 815,000 $ 394,000 $ 3,914,000 $ 1,480,000 JULY 2018 On July 19, 2018, $2.5 “JULY 2018 July 24, 2018 “JULY 2018 JULY 2018 five The conversion rate of the notes was fixed at $0.25 July 24, 2018. $500,000 10% $500,000 25% $0.25 ten 4 2 1933 506 501 During the year ended December 31, 2018, $1,175,000 JULY 2018 590,000 $0.25 10 $3,000 2018 2015 03 835 30 five JULY 2018 The Company allocated $380,000 JULY 2018 December 31, 2018, $20,000 2018 On May 8, 2018, $1 “2018 May 8, 2018 “2018 2018 five July 19, 2018, July 19, 2018, 2018 $625,000 460,000 The conversion rate of the notes was fixed at $0.25 May 8, 2018. 10% 25% $0.25 ten 4 2 1933 506 501 The Company incurred approximately $4,000 2018 2015 03 835 30 five $250,000 2018 During the year ended December 31, 2018 $19,000 2017 The board of directors authorized the issuance of up to $5 6% “2017 May 31, 2017 “2017 July 19, 2018, 2017 $4,420,000 2,307,207 The 2017 five 6%. first Investors making investments of less than $500,000 10% $500,000 25% The conversion rate of the notes was originally fixed at $0.50 May 31, 2017 November 30, 2017 $0.333 $0.50 ten November 30, 2017 $0.333 $2,450,000 fourth 2017, $0.333 2017 2017. The 2017 4 2 506 501 The Company issued $1,595,000 2017 December 31, 2018 4,789,790 1,120,871 $303,000 During the year ended December 31, 2018, $355,000 $105,000 December 31, 2017, $128,000 $79,000 2016 During 2016, $3 6% “2016 August 25, 2016 “2016 2016 five August 2021 December 2021 6%. first The conversion rate of the notes was fixed at $0.25 August 25, 2016. 10% $0.25 ten 4 2 1934, 506 501 1933. The Company allocated $2,551,000 2016 2016 1,200,000 $0.25 10 $28,000 2016 2015 03 835 30 five 2016 During the year ended December 31, 2018, $664,000 $483,000. December 31, 2017 $636,000 $456,000. |
Note 5 - Capital Lease Obligati
Note 5 - Capital Lease Obligation | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Capital Leases in Financial Statements of Lessee Disclosure [Text Block] | NOTE 5 In 2015, 5 $9,000 $170 5.3%. $2,000 2020. |
Note 6 - Software
Note 6 - Software | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Research, Development, and Computer Software Disclosure [Text Block] | NOTE 6 The Company investments in software for the CURA are amortized over an estimated useful life of 3 December 31, 2018 2017 $92,000 $125,000, December 31, 2018 2017 $10,000 $102,000, $10,000 2019. During the year ended December 31, 2017 $357,000 |
Note 7 - Property and Equipment
Note 7 - Property and Equipment | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 7 At December 31, 2018 2017 December 31, 2018 December 31, 2017 Office equipment $ 249,000 $ 249,000 Shop equipment 182,000 231,000 Leasehold improvements 253,000 253,000 684,000 733,000 Less accumulated depreciation (622,000 ) (608,000 ) Net property and equipment $ 62,000 $ 125,000 Depreciation expense for the years ended December 31, 2018 2017 $46,000 $55,000 |
Note 8 - Business Segments
Note 8 - Business Segments | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 8 The Company has two Segment information for the year ended December 31, 201 8 for the Company’s business segments follows: CURA Aegis Corporate Total Revenue $ 37,000 $ - $ - $ 37,000 Loss on revenue 73,000 - - 73,000 Inventory reserve 1,741,000 - - 1,741,000 Impairment loss 17,000 - - 17,000 Total costs and expenses 1,324,000 658,000 1,439,000 3,421,000 Loss from operations 3,082,000 658,000 1,439,000 5,179,000 Other expense - - 1,056,000 1,056,000 Net loss $ 3,155,000 $ 658,000 $ 2,495,000 $ 6,308,000 Stock based compensation $ 1,000 $ 44,000 $ 135,000 $ 180,000 Depreciation and amortization $ 110,000 $ 20,000 $ 8,000 $ 138,000 Capital expenditures $ - $ - $ - $ - Assets at December 31, 2018 $ 15,000 $ 54,000 $ 81,000 $ 150,000 Segment information for the year ended December 31, 201 7 for the Company’s business segments follows: CURA Aegis Corporate Total Revenue $ 39,000 $ - $ - $ 39,000 Loss on revenue 122,000 - - 122,000 Impairment loss 357,000 - - 357,000 Total costs and expenses 2,608,000 516,000 1,484,000 4,608,000 Loss from operations 2,730,000 516,000 1,484,000 4,730,000 Other expense (income) - - 693,000 693,000 Net loss $ 2,730,000 $ 516,000 $ 2,177,000 $ 5,423,000 Stock based compensation $ 55,000 $ 7,000 $ 97,000 $ 159,000 Depreciation and amortization $ 150,000 $ 18,000 $ 12,000 $ 180,000 Capital expenditures $ 373,000 $ 47,000 $ - $ 420,000 Assets at December 31, 2017 $ 1,894,000 $ 75,000 $ 231,000 $ 2,200,000 |
Note 9 - Income Taxes
Note 9 - Income Taxes | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 9 We account for income taxes using the asset and liability method, the objective of which is to establish deferred tax assets and liabilities for the temporary differences between the financial reporting and the tax bases of our assets and liabilities at enacted tax rates expected to be in effect when such amounts are realized or settled. A valuation allowance related to deferred tax assets is recorded when it is more likely than not not The provision (benefit) for income taxes for the years ended December 31, 2018 2017 2018 2017 Current tax expense (benefit): Federal $ - $ - State - - Deferred tax expense (benefit): Federal 1,093,000 5,418,000 State 252,000 127,000 Change in valuation allowance (1,345,000 ) (5,545,000 ) Provision for income tax $ - $ - The difference between income taxes at the statutory federal income tax rate and income taxes reported in the statements of operations for each of the years ended December 31, 2017 2018 2018 2017 Income tax benefit at federal statutory rate $ (1,325,000 ) $ (1,846,000 ) State income tax (benefit), net of federal taxes (199,000 ) (84,000 ) Non-deductible debt discount 132,000 182,000 Expiration of warrants - 221,000 Change in tax rate - 6,869,000 Other 47,000 35,000 Increase (decrease) in valuation allowance 1,345,000 (5,545,000 ) Provision for income taxes $ - $ - The deferred tax asset at December 31, 2018 2017 2018 2017 Deferred income tax assets: Net operating loss carryforwards $ 3,044,000 $ 2,604,000 Deferred startup costs 10,787,000 9,853,000 Stock-based compensation 1,302,000 1,294,000 Other 117,000 153,000 15,250,000 13,904,000 Less: Valuation allowance (15,250,000 ) (13,904,000 ) Net deferred tax asset $ - $ - Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. During the year ended December 31, 2017, 21%. December 31, 2017. On December 22, 2017, not 1 35 21 2 3 December 31, 2017; ( 4 December 31, 2017; 5 On December 22, 2017, No. 118 not December 31, 2017. December 31, 2018, The deferred U.S. income tax expense for 2017 one $6,869,000 zero The Tax Act limits net operating loss deductions to 80% 2017. may 2018, $1,309,000, At December 31, 2018, $11,896,000 $11,187,000 2023 2037. December 31, 2018, 80% $200,000 2037. 2018, $41,690,000 15 The amortization period for a nominal portion of the startup expenses, $273,000, 195 2018 2018 2018 no 2018 195 195 15 Effective January 1, 2017, 2016 09, 718 $1,684,000 no Based upon the change in ownership rules under Section 382 1986, 50% three may may 382 may Reconciliations of the beginning and ending amounts of unrecognized tax benefits for the years ended December 31, 2018 2017 2018 2017 Balance as of January 1 $ 1,112,000 $ 1,684,000 Reductions based on enacted change in tax rates - (572,000 ) Balance as of December 31 $ 1,112,000 $ 1,112,000 Tax years that remain subject to examination for our major tax jurisdictions include the years ended December 31, 2015 December 31, 2018. may |
Note 10 - Preferred and Common
Note 10 - Preferred and Common Stock | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 10 Common Stock We have authorized 400,000,000 $0.01 During the year ended December 31, 2018, 874,000 320,853 $0.25 2016 2017 190,150 $0.25 During the year ended December 31, 2017, 1,872,781 40,000 Preferred Stock Our certificate of incorporation permits the Company to issue up to 100,000,000 $.01 may Class A Preferred Stock 3,300,000 one one no The holders of the Class A Preferred are entitled to receive cumulative preferential dividends in the amount of $.40 1 $4.00 not may one one may not may, $4.00 During the year ended December 31, 2017, 75,000 one 101,281 No 2018. At December 31, 2018, 468,221 8,709 no 468,221 $2,530,000 $2,346,000 December 31, 2018 2017, In the event of a liquidation, dissolution and winding up of the Company, and subject to the liquidation rights and privileges of our Class C Preferred shareholders, Class A Preferred shareholders have a liquidation preference with respect to all accumulated and unsettled dividends. The value of the Class A Preferred shareholders’ liquidation preference was approximately $2,530,000 $2,346,000 December 31, 2018 2017, 1 $4.00 Class B Preferred Stock 300,000 Each Class B Preferred Share is convertible after a one one one no Subject to the dividend rights and privileges of our Class A Preferred, the holders of the Class B Preferred are entitled to receive cumulative dividends in the amount of $.50 1 $5.00 not may one one not may, $5.00 Depending upon our cash position, from time to time we may December 31, 2018 2017, no At December 31, 2018, 67,500 $454,000. $454,000 $420,000 December 31, 2018 2017, 1 $5.00 Series C Preferred Stock 16,250,000 one The Series C Preferred shares have a liquidation preference at their stated value per share of $0.40 The Series C Preferred shares have no no During the years ended December 31, 2018 2017, 250,000 62,500 December 31, 2018 2017, 15,687,500 15,937,500, $6,275,000 $6,375,000 December 31, 2018 2017, Series C- 2 Preferred Stock March 2014, 25,000,000 2 Each Series C- 2 one $0.01 The Series C- 2 $0.20 two 2 fifty fifty The Series C- 2 not no 2 We may not, two 2 2 2 2 2 2 2 2 not The Series C- 2 not 1933, may not During 2018, 2 500,000 2 December 31, 2018 2017, 24,500,000 25,000,000 2 2 $4,900,000 $5,000,000 December 31, 2018 2017. In connection with the issuance of the Series C- 2 September 23, 2011 3, three 144. $500,000 one twelve first Pursuant to the terms of the Investors’ Rights Agreement, the Company may not $1,000,000 third The Investors also agreed to “Market Stand-off” provisions that may may 3,000,000 Series C- 3 Preferred Stock 2015, 2 10,000,000 3 In 2015, $2,500,000 3 $0.25 506 1933. 501 1933. 3 one The Series C- 3 pari passu 2 3 not no 3 The Series C- 3 not 1933. 144 1933 may not 1933 During the year ended December 31, 2018, 120,000 3 December 31, 2017, 1,634,000 3 |
Note 11 - Stock Options
Note 11 - Stock Options | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 11 2016 Stock Option Plan 2016 “2016 3,000,000 may 2016 December 31, 2018, 1,220,000 2011 Stock Option Plan 2011 “2011 3,000,000 may 2011 Under the 2016 2011 may may may not 10% may not 110% ten 10% may not five During the year ended December 31, 2018, 1,787,500 $0.23 $0.35 10 three four The expense recognized for options that are granted to consultants (i.e., non-employees) reflect fair value, based on updated valuation assumptions using the Black-Scholes valuation model at each measurement period. Such expense is apportioned over the requisite service period of the consultant, which is concurrent with the vesting dates of the various tranches. Non-Plan Options Summary December 31, 2018 2017, $180,000 $159,000, December 31, 2018, $297,000 1.1 The weighted average grant date fair value of stock options granted during the years ended December 31, 2018 2017 $0.23 $0.76, December 31, 2018 2017 $412,000 $173,000, The fair value of each option granted was estimated on the date of grant using the Black-Scholes option-pricing model with the following weighted average assumptions: 2018 2017 Expected term (years) 5.4 6.6 Expected forfeiture rate 0% 0% Risk-free rate 2.8% 2.1% Volatility 137% 130% Dividend yield 0.0% 0.0% The average risk-free interest rate is based on the U.S. Treasury Security rate in effect as of the grant date. We determined expected volatility using the historical closing stock price. The expected life was generally determined using the simplified method as we do not The following summarizes the activity of all of our outstanding stock options for the years ended December 31, 2018 2017: Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (years) Value Outstanding at January 1, 2017 9,447,000 $ 0.53 4.8 $ 2,016,000 Granted 235,000 0.76 Exercised - - Canceled or expired - - Outstanding at December 31, 2017 9,682,000 0.54 3.9 $ 114,000 Granted 1,787,500 0.27 Exercised - - Canceled or expired 441,000 0.54 Outstanding at December 31, 2018 11,028,500 $ 0.49 3.8 $ 94,000 Exercisable at December 31, 2018 7,012,250 $ 0.58 2.9 $ 1,000 During the year ended December 31, 2018, no 441,000 No December 31, 2017. December 31, 2018, 2,908,500 2011 1,992,250 91,500 2011 December 31, 2018, 1,220,000 2016 270,000 1,780,000 2016 As of December 31, 2018, $.22 $1.58 |
Note 12 - Warrants
Note 12 - Warrants | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Stockholders Equity Note Warrants Or Rights [Text Block] | NOTE 12 The following summarizes the activity of our outstanding warrants for the years ended December 31, 2018 2017: Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term Value Outstanding at January 1, 2017 4,218,500 $ 0.95 (A) 6.1 (B) $ 874,000 Granted 1,186,336 0.33 Exercised (40,000 ) 0.20 Canceled or expired (150,000 ) 5.00 Outstanding at December 31, 2017 5,214,836 0.57 (A) 6.5 (B) $ 103,000 Granted 2,170,871 0.29 Exercised (4,000 ) 0.25 Canceled or expired - - Outstanding at December 31, 2018 7,381,707 $ 0.46 (A) 7.0 (B) $ 39,000 Exercisable at December 31, 2018 6,756,707 $ 0.45 6.5 (C) $ 39,000 (A) The weighted average exercise price for warrants outstanding as of December 31, 2018 2017 1,750,000 no (B) The weighted average remaining contractual term for warrants outstanding as of December 31, 2018 2017 743,500 no (C) The weighted average remaining contractual term for warrants exercisable as of December 31, 2018, 2017 118,500 no |
Note 13 - Related Party Transac
Note 13 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 13 As of December 31, 2018, $2,252,500 six 7,888,378 1,239,285 December 31, 2018 $33,000. We occupy a leased facility for our corporate headquarters building, located in Rochester, New York, which consists of both executive offices and manufacturing space. (See Note 14. |
Note 14 - Commitments and Other
Note 14 - Commitments and Other Matters | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 14 Leases We occupy a leased facility for our corporate headquarters building, located in Rochester, New York, which consists of both executive offices and manufacturing space. The facility is owned by a partnership in which a Company director is associated. The current rental rate is $6,825 $81,900 May 2019 two one Rent expense for each of the years ended December 31, 2018 2017 $80,000 December 31, 2019 $34,000. 401 : 401 401 may, not 2018 2017, $2,000 401 |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 12 Months Ended |
Dec. 31, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 15 JULY 201 8 Convertible Notes Subsequent to December 31, 2018, $450,000 JULY 2018 330,000 Related Party Note date January 23, 2019 On January 23, 2019, $100,000 90 6%. Common shares Issued in Payment of Interest Expense Subsequent to December 31, 2018, 35,996 $9,000 Director Resignation On March 27, 2019, 8:00 March 27, 2019. not |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Consolidation: 56% December 31, 2018, |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates: |
Reclassification, Policy [Policy Text Block] | Reclassifications: may |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash: may $15,000. |
Inventory, Policy [Policy Text Block] | Inventory December 31, 2018 $1,747,000. December 31, 2017, $6,000 |
Receivables, Policy [Policy Text Block] | Accounts Receivable not zero December 31, 2018 December 31, 2017. |
Software Property And Equipment [Policy Text Block] | Software, Property and Equipment: Software (in years) 3 Office equipment (in years) 5 - 7 Leasehold improvements lesser of useful life or lease term Depreciation and amortization are computed using the straight-line method. Betterments, renewals and significant repairs that extend the life of the assets are capitalized. Other repairs and maintenance costs are expensed when incurred. When disposed, the cost and accumulated depreciation applicable to assets retired are removed from the accounts and the gain or loss on disposition is recognized in other income (expense). Depreciation and software amortization expense for the years ended December 31, 2018 2017 $138,000 $180,000, Whenever events or circumstances indicate, our long-lived assets including any intangible assets with finite useful lives are tested for impairment by using the estimated future cash flows directly associated with, and that are expected to arise as a direct result of, the use of the assets. If the carrying amount exceeds the estimated undiscounted cash flows, impairment may During the year ended December 31, 2018 $17,000 December 31, 2017 $357,000 |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value of Financial Instruments: , one three Level 1: Level 2: Level 3: not The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 3 December 31, 2018 2017. $6,134,000 December 31, 2018 December 31, 2018. |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition and Deferred Revenue: January 1, 2018, 606, no 606. not not two The Company's net revenue is derived primarily from domestic customers. For the year ended December 31, 2018 $26,000 $11,000. 78% December 31, 2018. 30 CURA revenue is recognized (a) upon receipt of payment at the point of sale of the CURA app, (b) upon the delivery of myCadian products and (c) upon the company’s satisfaction of all performance obligations as described in customer agreements. The Z-Coach Program provides fatigue training over an annual subscription period of twelve 30 93% 2018. |
In Process Research and Development, Policy [Policy Text Block] | Engineering and Development and Patents: December 31, 2018 2017 $150,000 $146,000, |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-based Compensation: 718 10 may 718 10. No During 2018, 2018 07, 718 20 January 1, 2018 $10,000 |
Income Tax, Policy [Policy Text Block] | Income Taxes: not not We account for uncertain tax positions using a more-likely-than- not not not December 31, 2018, December 31, 2017, no In 2016, 2016 09, 718 first 2017 $1,684,000 no |
Earnings Per Share, Policy [Policy Text Block] | Loss per Common Share: 260 10 December 31, 2018 2017, 94,784,206 80,288,000 625,000 December 31, 2018 2017 not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements: February 25, 2016, No. 2016 02, December 15, 2018, December 31, 2018 $224,000 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Software, Property and Equipment Estimated Useful Life [Table Text Block] | Software (in years) 3 Office equipment (in years) 5 - 7 Leasehold improvements lesser of useful life or lease term |
Note 3 - Inventory and Relate_2
Note 3 - Inventory and Related Vendor Liability (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2018 2017 Raw materials $ 1,678,000 $ 1,681,000 Finished goods 69,000 69,000 1,747,000 1,750,000 Less: Reserve (1,747,000 ) (6,000 ) Inventory (net) $ - $ 1,744,000 Liability for inventory held at vendor $ 1,462,000 $ 1,678,000 |
Note 4 - Senior Convertible N_2
Note 4 - Senior Convertible Notes and Warrants (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Convertible Debt [Table Text Block] | Total JULY 2018 Convertible Notes 2018 Convertible Notes 2017 6% Convertible Notes 2016 6% Convertible Notes Face value December 31, 2017 $ 5,825,000 $ - $ - $ 2,825,000 $ 3,000,000 Notes issued in 2018 (gross) 3,395,000 1,175,000 625,000 1,595,000 - Notes converted in 2018 (60,000 ) - - (50,000 ) (10,000 ) Face value December 31, 2018 $ 9,160,000 $ 1,175,000 $ 625,000 $ 4,370,000 $ 2,990,000 Debt discount December 31, 2017 $ (2,262,000 ) $ - $ - $ (261,000 ) $ (2,001,000 ) Debt discount on notes issued 2018 (933,000 ) (380,000 ) (250,000 ) (303,000 ) - Amortization of discount reported as interest 627,000 20,000 19,000 105,000 483,000 Debt converted in 2018 (net) 11,000 - - 3,000 8,000 Debt discount December 31, 2018 $ (2,557,000 ) $ (360,000 ) $ (231,000 ) $ (456,000 ) $ (1,510,000 ) Senior Convertible Notes (net) $ 6,603,000 $ 815,000 $ 394,000 $ 3,914,000 $ 1,480,000 |
Note 7 - Property and Equipme_2
Note 7 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2018 December 31, 2017 Office equipment $ 249,000 $ 249,000 Shop equipment 182,000 231,000 Leasehold improvements 253,000 253,000 684,000 733,000 Less accumulated depreciation (622,000 ) (608,000 ) Net property and equipment $ 62,000 $ 125,000 |
Note 8 - Business Segments (Tab
Note 8 - Business Segments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | CURA Aegis Corporate Total Revenue $ 37,000 $ - $ - $ 37,000 Loss on revenue 73,000 - - 73,000 Inventory reserve 1,741,000 - - 1,741,000 Impairment loss 17,000 - - 17,000 Total costs and expenses 1,324,000 658,000 1,439,000 3,421,000 Loss from operations 3,082,000 658,000 1,439,000 5,179,000 Other expense - - 1,056,000 1,056,000 Net loss $ 3,155,000 $ 658,000 $ 2,495,000 $ 6,308,000 Stock based compensation $ 1,000 $ 44,000 $ 135,000 $ 180,000 Depreciation and amortization $ 110,000 $ 20,000 $ 8,000 $ 138,000 Capital expenditures $ - $ - $ - $ - Assets at December 31, 2018 $ 15,000 $ 54,000 $ 81,000 $ 150,000 CURA Aegis Corporate Total Revenue $ 39,000 $ - $ - $ 39,000 Loss on revenue 122,000 - - 122,000 Impairment loss 357,000 - - 357,000 Total costs and expenses 2,608,000 516,000 1,484,000 4,608,000 Loss from operations 2,730,000 516,000 1,484,000 4,730,000 Other expense (income) - - 693,000 693,000 Net loss $ 2,730,000 $ 516,000 $ 2,177,000 $ 5,423,000 Stock based compensation $ 55,000 $ 7,000 $ 97,000 $ 159,000 Depreciation and amortization $ 150,000 $ 18,000 $ 12,000 $ 180,000 Capital expenditures $ 373,000 $ 47,000 $ - $ 420,000 Assets at December 31, 2017 $ 1,894,000 $ 75,000 $ 231,000 $ 2,200,000 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2018 2017 Current tax expense (benefit): Federal $ - $ - State - - Deferred tax expense (benefit): Federal 1,093,000 5,418,000 State 252,000 127,000 Change in valuation allowance (1,345,000 ) (5,545,000 ) Provision for income tax $ - $ - |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2018 2017 Income tax benefit at federal statutory rate $ (1,325,000 ) $ (1,846,000 ) State income tax (benefit), net of federal taxes (199,000 ) (84,000 ) Non-deductible debt discount 132,000 182,000 Expiration of warrants - 221,000 Change in tax rate - 6,869,000 Other 47,000 35,000 Increase (decrease) in valuation allowance 1,345,000 (5,545,000 ) Provision for income taxes $ - $ - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2018 2017 Deferred income tax assets: Net operating loss carryforwards $ 3,044,000 $ 2,604,000 Deferred startup costs 10,787,000 9,853,000 Stock-based compensation 1,302,000 1,294,000 Other 117,000 153,000 15,250,000 13,904,000 Less: Valuation allowance (15,250,000 ) (13,904,000 ) Net deferred tax asset $ - $ - |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | 2018 2017 Balance as of January 1 $ 1,112,000 $ 1,684,000 Reductions based on enacted change in tax rates - (572,000 ) Balance as of December 31 $ 1,112,000 $ 1,112,000 |
Note 11 - Stock Options (Tables
Note 11 - Stock Options (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Notes Tables | |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2018 2017 Expected term (years) 5.4 6.6 Expected forfeiture rate 0% 0% Risk-free rate 2.8% 2.1% Volatility 137% 130% Dividend yield 0.0% 0.0% |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term (years) Value Outstanding at January 1, 2017 9,447,000 $ 0.53 4.8 $ 2,016,000 Granted 235,000 0.76 Exercised - - Canceled or expired - - Outstanding at December 31, 2017 9,682,000 0.54 3.9 $ 114,000 Granted 1,787,500 0.27 Exercised - - Canceled or expired 441,000 0.54 Outstanding at December 31, 2018 11,028,500 $ 0.49 3.8 $ 94,000 Exercisable at December 31, 2018 7,012,250 $ 0.58 2.9 $ 1,000 |
Note 12 - Warrants (Tables)
Note 12 - Warrants (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Warrant [Member] | |
Notes Tables | |
Share-based Compensation, Activity [Table Text Block] | Weighted Weighted Average Average Remaining Aggregate Exercise Contractual Intrinsic Shares Price Term Value Outstanding at January 1, 2017 4,218,500 $ 0.95 (A) 6.1 (B) $ 874,000 Granted 1,186,336 0.33 Exercised (40,000 ) 0.20 Canceled or expired (150,000 ) 5.00 Outstanding at December 31, 2017 5,214,836 0.57 (A) 6.5 (B) $ 103,000 Granted 2,170,871 0.29 Exercised (4,000 ) 0.25 Canceled or expired - - Outstanding at December 31, 2018 7,381,707 $ 0.46 (A) 7.0 (B) $ 39,000 Exercisable at December 31, 2018 6,756,707 $ 0.45 6.5 (C) $ 39,000 |
Note 1 - The Company and Basi_2
Note 1 - The Company and Basis of Presentation (Details Textual) | 12 Months Ended | ||
Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | |
Number of Operating Segments | 2 | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 53,000 | $ 194,000 | $ 2,009,000 |
Working Capital | (1,948,000) | ||
Stockholders' Equity Attributable to Parent, Ending Balance | (8,479,000) | (3,408,000) | $ 1,583,000 |
Retained Earnings (Accumulated Deficit), Ending Balance | (87,149,000) | $ (80,841,000) | |
Proceeds From Convertible Debt, Gross | 3,388,000 | ||
Minimum [Member] | |||
Cash Needed During the Year to Fund Current and Future Commitments | 3,000,000 | ||
Maximum [Member] | |||
Cash Needed During the Year to Fund Current and Future Commitments | $ 3,500,000 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Inventory Valuation Reserves, Ending Balance | $ 1,747,000 | $ 1,747,000 | $ 6,000 |
Allowance for Doubtful Accounts Receivable, Current, Ending Balance | 0 | 0 | 0 |
Depreciation, Depletion and Amortization, Total | 138,000 | 180,000 | |
Capitalized Computer Software, Impairments | 17,000 | 357,000 | |
Revenue from Contract with Customer, Including Assessed Tax | 37,000 | 39,000 | |
Research and Development Expense, Total | 1,262,000 | 1,502,000 | |
Excess Tax Benefit from Share-based Compensation, Operating Activities | 0 | ||
Allocated Share-based Compensation Expense, Total | 180,000 | 159,000 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | 0 | 0 |
Deferred Tax Assets, Gross, Total | 15,250,000 | 15,250,000 | $ 13,904,000 |
Operating Leases, Future Minimum Payments Due, Total | 224,000 | $ 224,000 | |
Convertible Preferred Stock, Notes, Options, and Warrants [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 94,784,206 | 80,288,000 | |
Warrant [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 625,000 | 625,000 | |
Accounting Standards Update 2018-07 [Member] | Employee Stock Option [Member] | |||
Allocated Share-based Compensation Expense, Total | (10,000) | ||
Accounting Standards Update 2016-09 [Member] | |||
Deferred Tax Assets, Gross, Total | $ 1,684,000 | ||
Increase (Decrease) in Deferred Income Taxes Assets Due to Uncertain Tax Benefits | (1,684,000) | ||
Patents [Member] | General and Administrative Expense [Member] | |||
Research and Development Expense, Total | $ 150,000 | $ 146,000 | |
Z-Coach Aviation Wellness Program Annual Subscription [Member] | |||
Deferred Revenue Arrangement, Subscription Period | 1 year | ||
Sales Revenue, Net [Member] | Customer Concentration Risk [Member] | Customer One [Member] | |||
Concentration Risk, Percentage | 78.00% | ||
CURA APP and Devices [Member] | Customer Concentration Risk [Member] | Customer One [Member] | |||
Concentration Risk, Percentage | 93.00% | ||
Transferred over Time [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 26,000 | ||
Transferred at Point in Time [Member] | |||
Revenue from Contract with Customer, Including Assessed Tax | 11,000 | ||
Senior Convertible Promissory Notes [Member] | |||
Long-term Debt, Fair Value | 6,134,000 | 6,134,000 | |
Commercial Paper [Member] | Collateral Pledged [Member] | |||
Debt Instrument, Collateral Amount | $ 15,000 | $ 15,000 | |
Subsidiaries [Member] | |||
Equity Method Investment, Ownership Percentage | 56.00% | 56.00% |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Property, and Equipment, Estimated Useful Lives (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Office Equipment [Member] | Minimum [Member] | |
Property plant and equipment, useful lives (Year) | 5 years |
Office Equipment [Member] | Maximum [Member] | |
Property plant and equipment, useful lives (Year) | 7 years |
Leasehold Improvements [Member] | |
Property plant and equipment, useful lives | lesser of useful life or lease term |
Computer Software, Intangible Asset [Member] | |
Property plant and equipment, useful lives (Year) | 3 years |
Note 3 - Inventory and Relate_3
Note 3 - Inventory and Related Vendor Liability (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Inventory, Raw Materials, Gross, Total | $ 1,678,000 | $ 1,681,000 | |
Liability for Inventory Held at Vendor | 1,462,000 | 1,678,000 | |
Inventory Write-down | $ 1,741,000 | $ 1,741,000 |
Note 3 - Inventory and Relate_4
Note 3 - Inventory and Related Vendor Liability - Inventory (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Raw materials | $ 1,678,000 | $ 1,681,000 |
Finished goods | 69,000 | 69,000 |
1,747,000 | 1,750,000 | |
Less: Reserve | (1,747,000) | (6,000) |
Inventory (net) | 1,744,000 | |
Liability for inventory held at vendor | $ 1,462,000 | $ 1,678,000 |
Note 4 - Senior Convertible N_3
Note 4 - Senior Convertible Notes and Warrants (Details Textual) | Jul. 24, 2018USD ($)$ / shares | May 08, 2018USD ($)$ / shares | Nov. 30, 2017USD ($)$ / shares | May 31, 2017USD ($)$ / shares | Aug. 25, 2016$ / shares | Dec. 31, 2018USD ($)$ / sharesshares | Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($)$ / sharesshares | Jul. 19, 2018USD ($)shares |
Long-term Debt, Gross | $ 9,160,000 | $ 5,825,000 | |||||||
Debt Instrument, Unamortized Discount, Total | 2,557,000 | 2,262,000 | |||||||
Long-term Debt, Total | 6,603,000 | ||||||||
Interest Expense, Total | 1,057,000 | 765,000 | |||||||
Amortization of Debt Discount (Premium) | 627,000 | 535,000 | |||||||
Warrants Related to the 2017 Convertible Notes [Member] | |||||||||
Investment Threshold | $ 500,000 | ||||||||
Percentage of Shares Issuable Upon Conversion of the Promissory Notes, Below Investment Threshold | 10.00% | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.333 | $ 0.50 | |||||||
Percentage of Shares Issuable Upon the Conversion of the Promissory Notes | 25.00% | ||||||||
Class of Warrant or Right, Term | 10 years | ||||||||
Warrants Related to the 2016 Convertible Notes [Member] | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 | $ 0.25 | |||||||
Warrants and Rights Outstanding, Term | 10 years | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,200,000 | ||||||||
Percentage of Shares Issuable Upon the Conversion of the Promissory Notes | 10.00% | ||||||||
Convertible Notes [Member] | |||||||||
Long-term Debt, Gross | 9,160,000 | 5,825,000 | |||||||
Debt Instrument, Unamortized Discount, Total | 2,557,000 | 2,262,000 | |||||||
Long-term Debt, Total | 6,603,000 | 3,563,000 | |||||||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 0 | ||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Three | 2,990,000 | ||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 2,775,000 | ||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Five | 3,395,000 | ||||||||
Long-term Debt, Maturities, Repayments of Principal in Year Two | 0 | ||||||||
Convertible Notes [Member] | Investor [Member] | |||||||||
Long-term Debt, Total | 2,252,500 | ||||||||
Convertible Notes [Member] | Affiliated Entity [Member] | |||||||||
Long-term Debt, Total | 1,170,000 | ||||||||
July 2018 Convertible Notes [Member] | |||||||||
Long-term Debt, Gross | 1,175,000 | ||||||||
Debt Instrument, Unamortized Discount, Total | 360,000 | ||||||||
Long-term Debt, Total | $ 815,000 | ||||||||
Amount of Senior Convertible Promissory Notes Authorized to Issue in Private Placement | $ 2,500,000 | ||||||||
Debt Instrument, Term | 5 years | 5 years | |||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.25 | ||||||||
Debt Instrument, Face Amount | $ 1,175,000 | ||||||||
Debt Instrument, Debt Discount Before Amortization | 380,000 | ||||||||
Interest Expense, Total | 20,000 | ||||||||
Amortization of Debt Discount (Premium) | $ 20,000 | ||||||||
Warrants Related to July 2018 Convertible Notes [Member] | |||||||||
Investment Threshold | $ 500,000 | ||||||||
Percentage of Shares Issuable Upon Conversion of the Promissory Notes, Below Investment Threshold | 10.00% | ||||||||
Percentage of Shares Issuable Upon Conversion of the Promissory Notes, Above Investment Threshold | 25.00% | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 | ||||||||
Warrants and Rights Outstanding, Term | 10 years | 10 years | |||||||
Payments of Debt Issuance Costs | $ 3,000 | ||||||||
Warrants Related to the 2018 Convertible Notes [Member] | |||||||||
Percentage of Shares Issuable Upon Conversion of the Promissory Notes, Below Investment Threshold | 10.00% | ||||||||
Percentage of Shares Issuable Upon Conversion of the Promissory Notes, Above Investment Threshold | 25.00% | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.25 | $ 0.25 | |||||||
Warrants and Rights Outstanding, Term | 10 years | ||||||||
Class of Warrant or Right, Outstanding | shares | 590,000 | ||||||||
The 2018 Convertible Notes [Member] | |||||||||
Long-term Debt, Gross | $ 625,000 | $ 625,000 | |||||||
Debt Instrument, Unamortized Discount, Total | 231,000 | ||||||||
Long-term Debt, Total | $ 394,000 | ||||||||
Amount of Senior Convertible Promissory Notes Authorized to Issue in Private Placement | $ 1,000,000 | ||||||||
Debt Instrument, Term | 5 years | 5 years | |||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.25 | ||||||||
Class of Warrant or Right, Outstanding | shares | 460,000 | ||||||||
Payments of Debt Issuance Costs | $ 4,000 | ||||||||
Debt Instrument, Debt Discount Before Amortization | 250,000 | ||||||||
Interest Expense, Total | 19,000 | ||||||||
Amortization of Debt Discount (Premium) | 19,000 | ||||||||
The 2017 Convertible Notes [Member] | |||||||||
Long-term Debt, Gross | 4,370,000 | 2,825,000 | $ 4,420,000 | ||||||
Debt Instrument, Unamortized Discount, Total | 456,000 | 261,000 | |||||||
Long-term Debt, Total | 3,914,000 | ||||||||
Amount of Senior Convertible Promissory Notes Authorized to Issue in Private Placement | $ 5,000,000 | ||||||||
Debt Instrument, Term | 5 years | ||||||||
Debt Instrument, Face Amount | $ 1,595,000 | ||||||||
Debt Instrument, Debt Discount Before Amortization | 303,000 | ||||||||
Interest Expense, Total | $ 355,000 | 128,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,120,871 | ||||||||
Convertible Notes, Aggregate Amount Reissued | $ 2,450,000 | ||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 4,789,790 | ||||||||
Amortization of Debt Discount (Premium) | $ 105,000 | 79,000 | |||||||
Warrants Related to the 2017 Convertible Notes [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 2,307,207 | ||||||||
The 2016 Convertible Notes [Member] | |||||||||
Long-term Debt, Gross | 2,990,000 | 3,000,000 | |||||||
Debt Instrument, Unamortized Discount, Total | 1,510,000 | 2,001,000 | |||||||
Long-term Debt, Total | 1,480,000 | ||||||||
Debt Instrument, Term | 5 years | 5 years | |||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.25 | ||||||||
Interest Expense, Total | 664,000 | 636,000 | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||||
Amortization of Debt Discount (Premium) | $ 483,000 | $ 456,000 | |||||||
Debt Instrument, Unamortized Discount, Noncurrent | $ 2,551,000 | ||||||||
Debt Issuance Costs, Net, Total | 28,000 | ||||||||
The 2016 Convertible Notes [Member] | Maximum [Member] | |||||||||
Amount of Senior Convertible Promissory Notes Authorized to Issue in Private Placement | $ 3,000,000 |
Note 4 - Senior Convertible N_4
Note 4 - Senior Convertible Notes and Warrants - Schedule of Senior Convertible Notes Outstanding (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Face value | $ 5,825,000 | |
Notes issued in 2018 (gross) | 3,395,000 | |
Notes converted in 2018 | (60,000) | |
Face value | 9,160,000 | $ 5,825,000 |
Debt discount | (2,262,000) | |
Debt discount on notes issued 2018 | (933,000) | |
Amortization of discount reported as interest | 627,000 | 535,000 |
Debt converted in 2018 (net) | 11,000 | |
Debt discount | (2,557,000) | (2,262,000) |
Senior Convertible Notes (net) | 6,603,000 | |
July 2018 Convertible Notes [Member] | ||
Face value | ||
Notes issued in 2018 (gross) | 1,175,000 | |
Notes converted in 2018 | ||
Face value | 1,175,000 | |
Debt discount | ||
Debt discount on notes issued 2018 | (380,000) | |
Amortization of discount reported as interest | 20,000 | |
Debt converted in 2018 (net) | ||
Debt discount | (360,000) | |
Senior Convertible Notes (net) | 815,000 | |
The 2018 Convertible Notes [Member] | ||
Face value | ||
Notes issued in 2018 (gross) | 625,000 | |
Notes converted in 2018 | ||
Face value | 625,000 | |
Debt discount | ||
Debt discount on notes issued 2018 | (250,000) | |
Amortization of discount reported as interest | 19,000 | |
Debt converted in 2018 (net) | ||
Debt discount | (231,000) | |
Senior Convertible Notes (net) | 394,000 | |
The 2017 Convertible Notes [Member] | ||
Face value | 2,825,000 | |
Notes issued in 2018 (gross) | 1,595,000 | |
Notes converted in 2018 | (50,000) | |
Face value | 4,370,000 | 2,825,000 |
Debt discount | (261,000) | |
Debt discount on notes issued 2018 | (303,000) | |
Amortization of discount reported as interest | 105,000 | 79,000 |
Debt converted in 2018 (net) | 3,000 | |
Debt discount | (456,000) | (261,000) |
Senior Convertible Notes (net) | 3,914,000 | |
The 2016 Convertible Notes [Member] | ||
Face value | 3,000,000 | |
Notes issued in 2018 (gross) | ||
Notes converted in 2018 | (10,000) | |
Face value | 2,990,000 | 3,000,000 |
Debt discount | (2,001,000) | |
Debt discount on notes issued 2018 | ||
Amortization of discount reported as interest | 483,000 | 456,000 |
Debt converted in 2018 (net) | 8,000 | |
Debt discount | (1,510,000) | $ (2,001,000) |
Senior Convertible Notes (net) | $ 1,480,000 |
Note 5 - Capital Lease Obliga_2
Note 5 - Capital Lease Obligation (Details Textual) - Office Equipment [Member] | 12 Months Ended |
Dec. 31, 2015USD ($) | |
Capita Lease, Term | 5 years |
Capital Leased Assets, Gross, Total | $ 9,000 |
Capital Lease, Monthly Payment | $ 170 |
Debt Instrument, Interest Rate During Period | 5.30% |
Capital Lease Obligations, Total | $ 2,000 |
Note 6 - Software (Details Text
Note 6 - Software (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Capitalized Computer Software, Amortization | $ 92,000 | $ 125,000 |
Capitalized Computer Software, Net, Ending Balance | 10,000 | 102,000 |
Capitalized Computer Software, Impairments | $ 17,000 | $ 357,000 |
Computer Software, Intangible Asset [Member] | ||
Finite-Lived Intangible Asset, Useful Life | 3 years | |
Finite-Lived Intangible Assets, Amortization Expense, Next Twelve Months | $ 10,000 |
Note 7 - Property and Equipme_3
Note 7 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Depreciation, Total | $ 46,000 | $ 55,000 |
Note 7 - Property and Equipme_4
Note 7 - Property and Equipment - Property and Equipment (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Office equipment | $ 249,000 | $ 249,000 |
Shop equipment | 182,000 | 231,000 |
Leasehold improvements | 253,000 | 253,000 |
684,000 | 733,000 | |
Less accumulated depreciation | (622,000) | (608,000) |
Net property and equipment | $ 62,000 | $ 125,000 |
Note 8 - Business Segments (Det
Note 8 - Business Segments (Details Textual) | 12 Months Ended |
Dec. 31, 2018 | |
Number of Operating Segments | 2 |
Note 8 - Business Segments - Op
Note 8 - Business Segments - Operation by Segments (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2018 | Dec. 31, 2017 | |
Revenue | $ 37,000 | $ 39,000 | |
Loss on revenue | 73,000 | 122,000 | |
Inventory reserve | $ 1,741,000 | 1,741,000 | |
Impairment loss | 17,000 | 357,000 | |
Total costs and expenses | 5,179,000 | 4,608,000 | |
Loss from operations | 5,252,000 | 4,730,000 | |
Other expense (income) | 1,056,000 | 693,000 | |
Net loss | 6,308,000 | 5,423,000 | |
Stock based compensation | 180,000 | 159,000 | |
Depreciation and amortization | 138,000 | 180,000 | |
Capital expenditures | 420,000 | ||
Assets | 150,000 | 2,200,000 | |
Operating Segments [Member] | CURA Division [Member] | |||
Revenue | 37,000 | 39,000 | |
Loss on revenue | 73,000 | 122,000 | |
Inventory reserve | 1,741,000 | ||
Impairment loss | 17,000 | 357,000 | |
Total costs and expenses | 1,324,000 | 2,608,000 | |
Loss from operations | 3,082,000 | 2,730,000 | |
Other expense (income) | |||
Net loss | 3,155,000 | 2,730,000 | |
Stock based compensation | 1,000 | 55,000 | |
Depreciation and amortization | 110,000 | 150,000 | |
Capital expenditures | 373,000 | ||
Assets | 15,000 | 1,894,000 | |
Operating Segments [Member] | Aegis Division [Member] | |||
Revenue | |||
Loss on revenue | |||
Inventory reserve | |||
Impairment loss | |||
Total costs and expenses | 658,000 | 516,000 | |
Loss from operations | 658,000 | 516,000 | |
Other expense (income) | |||
Net loss | 658,000 | 516,000 | |
Stock based compensation | 44,000 | 7,000 | |
Depreciation and amortization | 20,000 | 18,000 | |
Capital expenditures | 47,000 | ||
Assets | 54,000 | 75,000 | |
Corporate, Non-Segment [Member] | |||
Revenue | |||
Loss on revenue | |||
Inventory reserve | |||
Impairment loss | |||
Total costs and expenses | 1,439,000 | 1,484,000 | |
Loss from operations | 1,439,000 | 1,484,000 | |
Other expense (income) | 1,056,000 | 693,000 | |
Net loss | 2,495,000 | 2,177,000 | |
Stock based compensation | 135,000 | 97,000 | |
Depreciation and amortization | 8,000 | 12,000 | |
Capital expenditures | |||
Assets | $ 81,000 | $ 231,000 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% |
Effective Income Tax Rate Reconciliation, Change in Enacted Tax Rate, Amount | $ 6,869,000 | |
Income Tax Expense (Benefit), Continuing Operations, Adjustment of Deferred Tax (Asset) Liability | 0 | |
Operating Loss Carryforwards Subject to Expiration | 1,309,000 | |
Accumulated Deferred Startup Costs | 41,690,000 | |
Amortization of Startup Costs | $ 273,000 | |
Amortization Period Of Startup Costs | 15 years | |
Deferred Tax Assets, Gross, Total | $ 15,250,000 | 13,904,000 |
Open Tax Year | 2015 2016 2017 2018 | |
Accounting Standards Update 2016-09 [Member] | ||
Deferred Tax Assets, Gross, Total | 1,684,000 | |
Increase (Decrease) in Deferred Income Taxes Assets Due to Uncertain Tax Benefits | $ (1,684,000) | |
Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | $ 200,000 | |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | ||
Operating Loss Carryforwards, Total | 11,896,000 | |
State and Local Jurisdiction [Member] | New York State Division of Taxation and Finance [Member] | ||
Operating Loss Carryforwards, Total | $ 11,187,000 |
Note 9 - Income Taxes - Provisi
Note 9 - Income Taxes - Provision (Benefit) for Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Current tax expense (benefit): | ||
Federal | ||
State | ||
Deferred tax expense (benefit): | ||
Federal | 1,093,000 | 5,418,000 |
State | 252,000 | 127,000 |
Change in valuation allowance | (1,345,000) | (5,545,000) |
Provision for income tax |
Note 9 - Income Taxes - Effecti
Note 9 - Income Taxes - Effective Income Tax Rate Reconciliation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Income tax benefit at federal statutory rate | $ (1,325,000) | $ (1,846,000) |
State income tax (benefit), net of federal taxes | (199,000) | (84,000) |
Non-deductible debt discount | 132,000 | 182,000 |
Expiration of warrants | 221,000 | |
Change in tax rate | 6,869,000 | |
Other | 47,000 | 35,000 |
Increase (decrease) in valuation allowance | 1,345,000 | (5,545,000) |
Provision for income tax |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Asset (Details) - USD ($) | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred income tax assets: | ||
Net operating loss carryforwards | $ 3,044,000 | $ 2,604,000 |
Deferred startup costs | 10,787,000 | 9,853,000 |
Stock-based compensation | 1,302,000 | 1,294,000 |
Other | 117,000 | 153,000 |
15,250,000 | 13,904,000 | |
Less: Valuation allowance | (15,250,000) | (13,904,000) |
Net deferred tax asset |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Balance as of January 1 | $ 1,112,000 | $ 1,684,000 |
Reductions based on enacted change in tax rates | (572,000) | |
Balance as of December 31 | $ 1,112,000 | $ 1,112,000 |
Note 10 - Preferred and Commo_2
Note 10 - Preferred and Common Stock (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2015 | Mar. 31, 2014 | |
Common stock, shares authorized (in shares) | 400,000,000 | 400,000,000 | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | ||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 874,000 | 1,872,781 | ||
Preferred stock, shares authorized (in shares) | 100,000,000 | 100,000,000 | ||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | $ 0.01 | ||
Investor Rights Agreement, Maximum Indebtedness | $ 1,000,000 | |||
Investor Rights Agreement, Minimum Number Shares of Common Stock by Conversion or Exercise of Series C Securities | 3,000,000 | |||
Preferred Class A [Member] | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 0 | |||
Preferred stock, shares authorized (in shares) | 3,300,000 | |||
Convertible Preferred Stock, Holding Period Required for Conversion | 1 year | |||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears | $ 0.40 | |||
Preferred Stock, Redemption Price Per Share | $ 4 | |||
Preferred stock, shares outstanding (in shares) | 468,221 | 468,221 | ||
Preferred Stock, Shares Outstanding, Not Accruing Dividends | 8,709 | |||
Dividends Payable | $ 2,530,000 | $ 2,346,000 | ||
Preferred Stock, Liquidation Preference, Value | $ 2,530,000 | $ 2,346,000 | ||
Preferred Class B [Member] | ||||
Preferred stock, shares authorized (in shares) | 300,000 | |||
Convertible Preferred Stock, Holding Period Required for Conversion | 1 year | |||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||
Preferred Stock, Per Share Amounts of Preferred Dividends in Arrears | $ 0.50 | |||
Preferred Stock, Redemption Price Per Share | $ 5 | |||
Preferred stock, shares outstanding (in shares) | 67,500 | 67,500 | ||
Dividends Payable | $ 454,000 | |||
Preferred Stock, Liquidation Preference, Value | $ 454,000 | $ 420,000 | ||
Preferred Stock Dividends, Shares | 0 | |||
Series C Preferred Stock [Member] | ||||
Preferred stock, shares authorized (in shares) | 16,250,000 | |||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||
Preferred stock, shares outstanding (in shares) | 15,687,500 | 15,937,500 | ||
Preferred Stock, Liquidation Preference, Value | $ 6,275,000 | $ 6,375,000 | ||
Preferred Stock, Liquidation Preference Per Share | $ 0.40 | |||
Conversion of Stock, Shares Converted | 250,000 | 62,500 | ||
Series C2 Preferred Stock [Member] | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 500,000 | |||
Preferred stock, shares authorized (in shares) | 25,000,000 | |||
Preferred Stock, Par or Stated Value Per Share | $ 0.01 | |||
Convertible Preferred Stock, Shares Issued upon Conversion | 1 | |||
Preferred stock, shares outstanding (in shares) | 24,500,000 | 25,000,000 | ||
Preferred Stock, Liquidation Preference, Value | $ 4,900,000 | $ 5,000,000 | ||
Preferred Stock, Liquidation Preference Per Share | $ 0.20 | |||
Series C3 Preferred Stock [Member] | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 120,000 | |||
Preferred stock, shares authorized (in shares) | 10,000,000 | |||
Preferred stock, shares outstanding (in shares) | 3,268,000 | 3,388,000 | ||
Private Placement Offering Amount | $ 2,500,000 | |||
Sale of Stock, Price Per Share | $ 0.25 | |||
Common Stock [Member] | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 1,634,000 | |||
Stock Issued During Period, Warrant Exercsed | 4,000 | 40,000 | ||
Common Stock Dividends, Shares | 101,281 | |||
Common Stock [Member] | Preferred Class A [Member] | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 75,000 | |||
Common Stock Dividends, Shares | 101,281 | |||
Common Stock [Member] | Warrants [Member] | ||||
Stock Issued During Period, Warrant Exercsed | 40,000 | |||
The 2016 and 2017 Convertible Note [Member] | ||||
Stock Issued During Period, Shares, Conversion of Convertible Securities | 190,150 | |||
Stock Issued During Period, Shares, New Issues | 320,853 | |||
Shares Issued, Price Per Share | $ 0.25 |
Note 11 - Stock Options (Detail
Note 11 - Stock Options (Details Textual) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2011 | Dec. 31, 2016 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,787,500 | 235,000 | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ 0.22 | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ 1.58 | |||
Allocated Share-based Compensation Expense, Total | $ 180,000 | $ 159,000 | ||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 297,000 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 36 days | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.23 | $ 0.76 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 412,000 | $ 173,000 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 0 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total | 441,000 | 0 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 11,028,500 | 9,682,000 | 9,447,000 | |
Stock Option Plan 2016 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,220,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 1,220,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 270,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 1,780,000 | |||
Stock Option Plan 2011 [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 3,000,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,787,500 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 10.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Discount from Market Price, Offering Date | 110.00% | |||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | 10 years | ||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Lower Range Limit | $ 0.23 | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range, Upper Range Limit | $ 0.35 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 2,908,500 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Number | 1,992,250 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 91,500 | |||
Stock Option Plan 2011 [Member] | Minimum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||
Stock Option Plan 2011 [Member] | Maximum [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years |
Note 11 - Stock Options - Stock
Note 11 - Stock Options - Stock Options Valuation Assumptions (Details) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Expected term (years) (Year) | 5 years 146 days | 6 years 219 days |
Expected forfeiture rate | 0.00% | 0.00% |
Risk-free rate | 2.80% | 2.10% |
Volatility | 137.00% | 130.00% |
Dividend yield | 0.00% | 0.00% |
Note 11 - Stock Options - Share
Note 11 - Stock Options - Share-based Compensation, Stock Options, Activity (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding shares (in shares) | 9,682,000 | 9,447,000 | |
Outstanding - weighted average exercise price (in dollars per share) | $ 0.54 | $ 0.53 | |
Outstanding - weighted average remaining contractual term (Year) | 3 years 292 days | 3 years 328 days | 4 years 292 days |
Outstanding - aggregate intrinsic value | $ 94,000 | $ 114,000 | $ 2,016,000 |
Shares, granted (in shares) | 1,787,500 | 235,000 | |
Weighted average exercise price, granted (in dollars per share) | $ 0.27 | $ 0.76 | |
Shares, exercised (in shares) | 0 | 0 | |
Weighted average exercise price, exercised (in dollars per share) | |||
Shares, canceled or expired (in shares) | 441,000 | 0 | |
Weighted average exercise price, canceled or expired (in dollars per share) | $ 0.54 | ||
Outstanding shares (in shares) | 11,028,500 | 9,682,000 | 9,447,000 |
outstanding - weighted average exercise price (in dollars per share) | $ 0.49 | $ 0.54 | $ 0.53 |
Shares, exercisable (in shares) | 7,012,250 | ||
Weighted average exercise price, exercisable (in dollars per share) | $ 0.58 | ||
Exercisable- weighted average remaining contractual term (Year) | 2 years 328 days | ||
Exercisable-aggregate intrinsic value | $ 1,000 |
Note 12 - Warrants (Details Tex
Note 12 - Warrants (Details Textual) - shares | Dec. 31, 2018 | Dec. 31, 2017 |
Warrants without Expiration Date, Outstanding | 743,500 | 743,500 |
Warrants without Expiration Date, Exercisable | 118,500 | 118,500 |
Warrants Not Determined, Exercise Price [Member] | ||
Class of Warrant or Right, Outstanding | 1,750,000 | 1,750,000 |
Note 12 - Warrants - Summary of
Note 12 - Warrants - Summary of Outstanding Warrants (Details) - USD ($) | 12 Months Ended | |||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | ||
Outstanding shares (in shares) | 9,682,000 | 9,447,000 | ||
Outstanding - weighted average exercise price (in dollars per share) | $ 0.54 | $ 0.53 | ||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 1,787,500 | 235,000 | ||
Weighted average exercise price, granted (in dollars per share) | $ 0.27 | $ 0.76 | ||
Shares, exercised (in shares) | 0 | 0 | ||
Weighted average exercise price, exercised (in dollars per share) | ||||
Shares, canceled or expired (in shares) | (441,000) | 0 | ||
Weighted average exercise price, canceled or expired (in dollars per share) | $ 0.54 | |||
Outstanding shares (in shares) | 11,028,500 | 9,682,000 | 9,447,000 | |
outstanding - weighted average exercise price (in dollars per share) | $ 0.49 | $ 0.54 | $ 0.53 | |
Shares, exercisable (in shares) | 7,012,250 | |||
Weighted average exercise price, exercisable (in dollars per share) | $ 0.58 | |||
Exercisable - weighted average remaining contractual term (Year) | 2 years 328 days | |||
Exercisable - aggregate intrinsic value | $ 1,000 | |||
Warrant [Member] | ||||
Outstanding shares (in shares) | 5,214,836 | 4,218,500 | ||
Outstanding - weighted average exercise price (in dollars per share) | [1] | $ 0.57 | $ 0.95 | |
Outstanding - weighted average remaining contractual term (Year) | [2] | 7 years | 6 years 182 days | 6 years 36 days |
Outstanding - aggregate intrinsic value | $ 39,000 | $ 103,000 | $ 874,000 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 2,170,871 | 1,186,336 | ||
Weighted average exercise price, granted (in dollars per share) | $ 0.29 | $ 0.33 | ||
Shares, exercised (in shares) | (4,000) | (40,000) | ||
Weighted average exercise price, exercised (in dollars per share) | $ 0.25 | $ 0.20 | ||
Shares, canceled or expired (in shares) | (150,000) | |||
Weighted average exercise price, canceled or expired (in dollars per share) | $ 5 | |||
Outstanding shares (in shares) | 7,381,707 | 5,214,836 | 4,218,500 | |
outstanding - weighted average exercise price (in dollars per share) | [1] | $ 0.46 | $ 0.57 | $ 0.95 |
Shares, exercisable (in shares) | 6,756,707 | |||
Weighted average exercise price, exercisable (in dollars per share) | $ 0.45 | |||
Exercisable - weighted average remaining contractual term (Year) | [3] | 6 years 182 days | ||
Exercisable - aggregate intrinsic value | $ 39,000 | |||
[1] | The weighted average exercise price for warrants outstanding as of December 31, 2018 and 2017 excludes 1,750,000 warrants in each period with no determined exercise price. | |||
[2] | The weighted average remaining contractual term for warrants outstanding as of December 31, 2018 and 2017 excludes 743,500 warrants with no expiration date. | |||
[3] | The weighted average remaining contractual term for warrants exercisable as of December 31, 2018, and 2017 excludes 118,500 warrants with no expiration date. |
Note 13 - Related Party Trans_2
Note 13 - Related Party Transactions (Details Textual) - Six Members of the Board of Directors [Member] | 12 Months Ended |
Dec. 31, 2018USD ($)shares | |
Warrants Related to the 2018 Convertible Notes [Member] | |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 1,239,285 |
The 2018 Convertible Notes [Member] | |
Debt Instrument, Face Amount | $ 2,252,500 |
Debt Instrument, Convertible, Number of Equity Instruments | 7,888,378 |
Interest Payable | $ 33,000 |
Note 14 - Commitments and Oth_2
Note 14 - Commitments and Other Matters (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Operating Leases, Rent Expense, Total | $ 80,000 | $ 80,000 |
Operating Leases, Future Minimum Payments Receivable, Current | 34,000 | |
Defined Contribution Plan, Administrative Expense | 2,000 | $ 2,000 |
Director [Member] | ||
Monthly Rent Payment under Operating Lease | 6,825 | |
Annual Rent Payment under Operating Lease | $ 81,900 |
Note 15 - Subsequent Events (De
Note 15 - Subsequent Events (Details Textual) - USD ($) | Jan. 23, 2019 | Jul. 24, 2018 | Mar. 21, 2019 | Dec. 31, 2018 |
Stock Issued During Period, Value, Interest | $ 80,000 | |||
Subsequent Event [Member] | ||||
Stock Issued During Period, Shares, Interest | 35,996 | |||
Stock Issued During Period, Value, Interest | $ 9,000 | |||
July 2018 Convertible Notes [Member] | ||||
Debt Instrument, Face Amount | $ 1,175,000 | |||
Debt Instrument, Term | 5 years | 5 years | ||
July 2018 Convertible Notes [Member] | Subsequent Event [Member] | ||||
Debt Instrument, Face Amount | $ 450,000 | |||
Class of Warrant or Right, Granted During Period | 330,000 | |||
Related Party Note [Member] | Subsequent Event [Member] | Chief Executive Officer and Director [Member] | ||||
Notes Payable, Related Parties, Current | $ 100,000 | |||
Debt Instrument, Term | 90 days | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% |