Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 10, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Registrant Name | Predictive Oncology Inc. | ||
Entity Central Index Key | 0001446159 | ||
Trading Symbol | poai | ||
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 Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 48,794,320 | ||
Entity Public Float | $ 32,138,990 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock, $0.01 par value |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current Assets: | ||
Cash | $ 678,332 | $ 150,831 |
Accounts Receivable | 256,878 | 297,055 |
Inventories | 289,535 | 190,156 |
Prepaid Expense and Other Assets | 289,490 | 160,222 |
Total Current Assets | 1,514,235 | 798,264 |
Fixed Assets, net | 3,822,700 | 1,507,799 |
Intangibles, net | 3,398,101 | 3,649,412 |
Lease Right-of-Use Assets | 1,395,351 | 729,745 |
Other Long-Term Assets | 116,257 | |
Goodwill | 2,813,792 | 15,690,290 |
Total Assets | 13,060,436 | 22,375,510 |
LIABILITIES AND STOCKHOLDERS' EQUITY | ||
Accounts Payable | 1,372,070 | 3,155,641 |
Notes Payable – Net of Discounts of $244,830 and $350,426 | 4,431,925 | 4,795,800 |
Accrued Expenses and other liabilities | 2,588,047 | 2,371,633 |
Derivative Liability | 294,382 | 50,989 |
Deferred Revenue | 53,028 | 40,384 |
Lease Liability – Net of Long-Term Portion | 597,469 | 459,481 |
Total Current Liabilities | 9,336,921 | 10,873,928 |
Other Long Term Liabilities | 235,705 | |
Lease Liability, long-term portion | 845,129 | 270,264 |
Total Liabilities | 10,417,755 | 11,144,192 |
Stockholders’ Equity: | ||
Common Stock, $.01 par value, 100,000,000 authorized, 19,804,787 and 4,056,652 outstanding | 198,048 | 40,567 |
Additional Paid-in Capital | 110,826,949 | 93,653,667 |
Accumulated Deficit | (108,383,108) | (82,498,711) |
Total Stockholders' Equity | 2,642,681 | 11,231,318 |
Total Liabilities and Stockholders' Equity | 13,060,436 | 22,375,510 |
Series B Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Convertible Preferred Stock | 792 | 792 |
Convertible Preferred Stock | 792 | 792 |
Series D Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Convertible Preferred Stock | 35,000 | |
Convertible Preferred Stock | 35,000 | |
Series E Convertible Preferred Stock [Member] | ||
Stockholders’ Equity: | ||
Convertible Preferred Stock | 3 | |
Convertible Preferred Stock | $ 3 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Discount of note payable | $ 244,830 | $ 350,426 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares outstanding (in shares) | 19,804,787 | 4,056,652 |
Series B Convertible Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 2,300,000 | 2,300,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares outstanding (in shares) | 79,246 | 79,246 |
Series D Convertible Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 3,500,000 | 3,500,000 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares outstanding (in shares) | 0 | 3,500,000 |
Series E Convertible Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 350 | 350 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, shares outstanding (in shares) | 0 | 258 |
Consolidated Statements of Net
Consolidated Statements of Net Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 1,252,272 | $ 1,411,565 |
Cost of goods sold | 447,192 | 531,810 |
Gross profit | 805,080 | 879,755 |
General and administrative expense | 10,351,973 | 9,781,218 |
Operations expense | 2,351,709 | 2,960,131 |
Sales and marketing expense | 584,937 | 1,912,899 |
Loss on goodwill impairment | 12,876,498 | 8,100,000 |
Loss on intangible impairment | 0 | 770,250 |
Total operating loss | (25,360,037) | (22,644,743) |
Gain on revaluation of cash advances to Helomics | 1,222,244 | |
Other income | 843,440 | 65,300 |
Other expense | (2,427,026) | (3,466,696) |
Loss on early extinguishment of debt | (1,996,681) | (513,250) |
Gain on derivative instruments | 1,765,907 | 221,756 |
Gain on notes receivables associated with asset purchase | 1,290,000 | |
Loss on equity method investment | (439,637) | |
Gain on revaluation of equity method investment | 6,164,260 | |
Net loss | (25,884,397) | (19,390,766) |
Deemed dividend | 554,287 | 289,935 |
Net loss attributable to common shareholders | $ (26,438,684) | $ (19,680,701) |
Loss per common share - basic and diluted (in dollars per share) | $ (2.21) | $ (6.86) |
Weighted average shares used in computation - basic and diluted (in shares) | 11,950,154 | 2,870,132 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity - USD ($) | June 2020 Warrant [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | June 2020 Warrant [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | June 2020 Warrant [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | June 2020 Warrant [Member]Common Stock [Member] | June 2020 Warrant [Member]Additional Paid-in Capital [Member] | June 2020 Warrant [Member]Retained Earnings [Member] | June 2020 Warrant [Member] | Convertible Debt 2020 Warrants [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Convertible Debt 2020 Warrants [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Convertible Debt 2020 Warrants [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Convertible Debt 2020 Warrants [Member]Common Stock [Member] | Convertible Debt 2020 Warrants [Member]Additional Paid-in Capital [Member] | Convertible Debt 2020 Warrants [Member]Retained Earnings [Member] | Convertible Debt 2020 Warrants [Member] | Warrants Issued With Promissory Note [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Warrants Issued With Promissory Note [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Warrants Issued With Promissory Note [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Warrants Issued With Promissory Note [Member]Common Stock [Member] | Warrants Issued With Promissory Note [Member]Additional Paid-in Capital [Member] | Warrants Issued With Promissory Note [Member]Retained Earnings [Member] | Warrants Issued With Promissory Note [Member] | Convertible Debt 2020 Warrants 2 [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Convertible Debt 2020 Warrants 2 [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Convertible Debt 2020 Warrants 2 [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Convertible Debt 2020 Warrants 2 [Member]Common Stock [Member] | Convertible Debt 2020 Warrants 2 [Member]Additional Paid-in Capital [Member] | Convertible Debt 2020 Warrants 2 [Member]Retained Earnings [Member] | Convertible Debt 2020 Warrants 2 [Member] | Warrants Issued to CEO [Member]Common Stock [Member] | Warrants Issued to CEO [Member]Additional Paid-in Capital [Member] | Warrants Issued to CEO [Member]Retained Earnings [Member] | Warrants Issued to CEO [Member] | Prefunded Warrant [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Prefunded Warrant [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Prefunded Warrant [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Prefunded Warrant [Member]Common Stock [Member] | Prefunded Warrant [Member]Additional Paid-in Capital [Member] | Prefunded Warrant [Member]Retained Earnings [Member] | Prefunded Warrant [Member] | Warrants Issued to Helomics' Investors [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Warrants Issued to Helomics' Investors [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Warrants Issued to Helomics' Investors [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Warrants Issued to Helomics' Investors [Member]Common Stock [Member] | Warrants Issued to Helomics' Investors [Member]Additional Paid-in Capital [Member] | Warrants Issued to Helomics' Investors [Member]Retained Earnings [Member] | Warrants Issued to Helomics' Investors [Member] | New Warrants From Exercise of Warrants [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | New Warrants From Exercise of Warrants [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | New Warrants From Exercise of Warrants [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | New Warrants From Exercise of Warrants [Member]Common Stock [Member] | New Warrants From Exercise of Warrants [Member]Additional Paid-in Capital [Member] | New Warrants From Exercise of Warrants [Member]Retained Earnings [Member] | New Warrants From Exercise of Warrants [Member] | Warrants Held by Noteholders [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Warrants Held by Noteholders [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Warrants Held by Noteholders [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Warrants Held by Noteholders [Member]Common Stock [Member] | Warrants Held by Noteholders [Member]Additional Paid-in Capital [Member] | Warrants Held by Noteholders [Member]Retained Earnings [Member] | Warrants Held by Noteholders [Member] | Warrants Issued Pursuant to Convertible Debt [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Warrants Issued Pursuant to Convertible Debt [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Warrants Issued Pursuant to Convertible Debt [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Warrants Issued Pursuant to Convertible Debt [Member]Common Stock [Member] | Warrants Issued Pursuant to Convertible Debt [Member]Additional Paid-in Capital [Member] | Warrants Issued Pursuant to Convertible Debt [Member]Retained Earnings [Member] | Warrants Issued Pursuant to Convertible Debt [Member] | Chief Executive Officer [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Chief Executive Officer [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Chief Executive Officer [Member]Common Stock [Member] | Chief Executive Officer [Member]Additional Paid-in Capital [Member] | Chief Executive Officer [Member]Retained Earnings [Member] | Chief Executive Officer [Member] | Private Placement [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Private Placement [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Private Placement [Member]Common Stock [Member] | Private Placement [Member]Additional Paid-in Capital [Member] | Private Placement [Member]Retained Earnings [Member] | Private Placement [Member] | May 2020 Offering [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | May 2020 Offering [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | May 2020 Offering [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | May 2020 Offering [Member]Common Stock [Member] | May 2020 Offering [Member]Additional Paid-in Capital [Member] | May 2020 Offering [Member]Retained Earnings [Member] | May 2020 Offering [Member] | Asset Purchase Agreement [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Asset Purchase Agreement [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Asset Purchase Agreement [Member]Common Stock [Member] | Asset Purchase Agreement [Member]Additional Paid-in Capital [Member] | Asset Purchase Agreement [Member]Retained Earnings [Member] | Asset Purchase Agreement [Member] | Equity Line Purchase Agreement [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Equity Line Purchase Agreement [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Equity Line Purchase Agreement [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Equity Line Purchase Agreement [Member]Common Stock [Member] | Equity Line Purchase Agreement [Member]Additional Paid-in Capital [Member] | Equity Line Purchase Agreement [Member]Retained Earnings [Member] | Equity Line Purchase Agreement [Member] | Bridge Notes [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Bridge Notes [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Bridge Notes [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Bridge Notes [Member]Common Stock [Member] | Bridge Notes [Member]Additional Paid-in Capital [Member] | Bridge Notes [Member]Retained Earnings [Member] | Bridge Notes [Member] | Bridge Loan Agreement [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Bridge Loan Agreement [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Bridge Loan Agreement [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Bridge Loan Agreement [Member]Common Stock [Member] | Bridge Loan Agreement [Member]Additional Paid-in Capital [Member] | Bridge Loan Agreement [Member]Retained Earnings [Member] | Bridge Loan Agreement [Member] | Promissory Note [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Promissory Note [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Promissory Note [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Promissory Note [Member]Common Stock [Member] | Promissory Note [Member]Additional Paid-in Capital [Member] | Promissory Note [Member]Retained Earnings [Member] | Promissory Note [Member] | Conversion from Series E Preferred Stock to Common Stock [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Conversion from Series E Preferred Stock to Common Stock [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Conversion from Series E Preferred Stock to Common Stock [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Conversion from Series E Preferred Stock to Common Stock [Member]Common Stock [Member] | Conversion from Series E Preferred Stock to Common Stock [Member]Additional Paid-in Capital [Member] | Conversion from Series E Preferred Stock to Common Stock [Member]Retained Earnings [Member] | Conversion from Series E Preferred Stock to Common Stock [Member] | Conversion of Series D Preferred Stock to Common Stock [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Conversion of Series D Preferred Stock to Common Stock [Member]Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Conversion of Series D Preferred Stock to Common Stock [Member]Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Conversion of Series D Preferred Stock to Common Stock [Member]Common Stock [Member] | Conversion of Series D Preferred Stock to Common Stock [Member]Additional Paid-in Capital [Member] | Conversion of Series D Preferred Stock to Common Stock [Member]Retained Earnings [Member] | Conversion of Series D Preferred Stock to Common Stock [Member] | Asset Purchase Agreement [Member]Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Preferred Stock [Member]Series B Convertible Preferred Stock [Member] | Preferred Stock [Member]Series D Convertible Preferred Stock [Member] | Preferred Stock [Member]Series E Convertible Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 79,246 | 1,409,175 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2018 | $ 792 | $ 14,092 | $ 63,146,533 | $ (63,107,945) | $ 53,472 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued | $ 78 | $ 49,922 | $ 50,000 | $ 9,200 | $ 5,263,818 | $ 5,273,018 | $ 1,224 | $ 317,972 | $ 319,196 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued (in shares) | 7,813 | 919,929 | 122,356 | 122,356 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in forbearance agreement | $ 166 | 158,183 | 158,349 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in forbearance agreement (in shares) | 16,667 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock issued, conversions (in shares) | 103,415 | 30,000 | 8,857 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock issued, conversions | $ 1,034 | $ 377,539 | $ 378,573 | $ 300 | $ 127,200 | $ 127,500 | $ 89 | $ 130,129 | $ 130,218 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of warrants | $ 180,640 | $ 180,640 | $ 356,471 | $ 356,471 | $ 6,261,590 | $ 6,261,590 | $ 177,343 | $ 177,343 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued for Helomics acquisition (in shares) | 3,500,000 | 400,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued for Helomics acquisition | $ 35,000 | $ 4,000 | 5,573,250 | 5,612,250 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Value of shares to extinguish debt (iii) | $ 8,637 | 6,454,672 | 6,463,309 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued to extinguish debt as part of Helomics purchase consideration (in shares) | 863,732 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants | $ 597 | 5,373 | 5,970 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants (in shares) | 59,700 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Series E preferred shares | $ 3 | 2,338,837 | 2,338,840 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of Series E preferred shares (in shares) | 258 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to equity line (in shares) | 104,652 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to equity line | $ 1,047 | 448,953 | 450,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting expense | 2,250,422 | 2,250,422 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issuance to investor relations consultant and other (in shares) | 10,356 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issuance to investor relations consultant and other | $ 103 | 34,820 | 34,923 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (19,390,766) | (19,390,766) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2019 | 79,246 | 3,500,000 | 258 | 4,056,652 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2019 | $ 792 | $ 35,000 | $ 3 | $ 40,567 | 93,653,667 | (82,498,711) | 11,231,318 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued | $ 13,968 | $ 591,949 | $ 605,917 | $ 4,891,348 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stock issued (in shares) | 1,396,826 | 4,231,073 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock issued, conversions (in shares) | 170,000 | (258) | 1,398,607 | 212,359 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
stock issued, conversions | $ 1,700 | $ 265,628 | $ 267,328 | $ (3) | $ 13,986 | $ (13,983) | $ (35,000) | $ 3,500 | $ 31,500 | $ 22,124 | 1,006,230 | 1,028,354 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of warrants | $ 116,951 | $ 116,951 | $ 62,373 | $ 62,373 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants | $ 12,748 | $ 1,682,237 | $ 1,694,985 | $ 1,220 | 190,930 | 192,150 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants (in shares) | 1,274,826 | 122,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to equity line (in shares) | 4,231,073 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to equity line | $ 42,311 | 4,849,037 | 4,891,348 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Vesting expense | 721,269 | 721,269 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issuance to investor relations consultant and other (in shares) | 202,199 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Share issuance to investor relations consultant and other | $ 2,022 | 428,184 | 430,206 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net income (loss) | (25,884,397) | (25,884,397) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to CEO note conversion and accrued interest and exchange agreement | $ 15,835 | 2,307,043 | 2,322,878 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to CEO note conversion and accrued interest and exchange agreement (in shares) | 1,390,166 | 1,583,481 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to promissory note extension | $ 300 | 40,950 | 41,250 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to promissory note extension (in shares) | 30,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares and prefunded warrants pursuant to March 2020 private placement | $ 13,902 | $ (13,149) | $ 753 | $ 2,600 | 455,223 | 457,823 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Issuance of shares and prefunded warrants pursuant to March 2020 private placement (in shares) | 260,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to 2020 convertible debt and warrants | $ 468 | 119,532 | 120,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Inducement shares issued pursuant to 2020 convertible debt and warrants (in shares) | 46,875 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued pursuant to series D preferred stock conversions (in shares) | (3,500,000) | 350,004 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in connection with asset purchase agreement | $ 10,797 | $ 1,661,970 | $ 1,672,767 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Shares issued in connection with asset purchase agreement (in shares) | 1,079,719 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Repricing and Reclassification of warrants issued pursuant to convertible debt | $ 803,455 | $ 803,455 | $ 1,865,953 | $ 1,865,953 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance (in shares) at Dec. 31, 2020 | 79,246 | 17,804,787 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balance at Dec. 31, 2020 | $ 792 | $ 198,048 | $ 110,826,949 | $ (108,383,108) | $ 2,642,681 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flow from operating activities: | ||
Net loss | $ (25,884,397) | $ (19,390,766) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Recognition of credit loss on notes receivable | 1,037,524 | |
Loss on equity method investment | 439,637 | |
Gain on revaluation of equity method investment | (6,164,260) | |
Depreciation and amortization | 1,024,848 | 704,883 |
Vesting expense | 721,269 | 2,250,422 |
Equity instruments issued for management, consulting, and other | 450,901 | 484,923 |
Amortization of debt discount | 1,246,541 | 2,023,315 |
Gain on valuation of equity-linked instruments | (1,765,907) | (221,756) |
Gain on revaluation of cash advances to Helomics | (1,222,244) | |
Gain on note receivable associated with asset purchase agreement | (1,290,000) | |
Gain on extinguishment of PPP loan | 1,996,681 | 513,250 |
Debt extinguishment costs | 1,996,681 | 581,073 |
Loss on goodwill and intangible impairment | 12,876,498 | 8,870,250 |
Loss on fixed asset disposal | 120,577 | 1,096 |
Changes in assets and liabilities: | ||
Accounts receivable | 69,913 | 143,316 |
Inventories | (94,715) | 91,114 |
Prepaid expense and other assets | (245,526) | (29,747) |
Accounts payable | (1,656,158) | 365,772 |
Accrued expenses | 700,966 | 1,285,678 |
Deferred revenue | 12,644 | 17,319 |
Net cash used in operating activities | (12,257,732) | (8,732,451) |
Cash flow from investing activities: | ||
Advances on notes receivable | (975,000) | |
Cash received from notes receivable | 154,418 | |
Cash received from Helomics acquisition | 248,102 | |
Purchase of fixed assets | (298,379) | (5,888) |
Proceeds from sale of fixed assets | 193,321 | |
Acquisition of intangibles | (62,398) | (20,719) |
Net cash used in investing activities | (167,456) | (599,087) |
Cash flow from financing activities: | ||
Proceeds from debt issuance | 2,761,867 | 2,690,000 |
Repayment of debt | (1,472,389) | (1,154,513) |
Payment penalties | (247,327) | (202,294) |
Proceeds from issuance of stock pursuant to equity line | 4,891,348 | 319,196 |
Proceeds from exercise of warrants into common stock | 1,935,855 | 5,970 |
Proceeds from issuance of Series E convertible preferred stock | 2,338,840 | |
Issuance of common stock, prefunded warrants, warrants and exchange of warrants, net | 5,057,919 | 5,323,018 |
Other liabilities | 25,416 | |
Net cash provided by financing activities | 12,952,689 | 9,320,217 |
Net decrease in cash | 527,501 | (11,321) |
Cash at beginning of year | 150,831 | 162,152 |
Cash at end of year | 678,332 | 150,831 |
Non-cash transactions | ||
Bridge loan conversion into common stock | 267,328 | 378,873 |
Forbearance settlement bridge loan | 503,009 | |
Warrants Issued | 47,078 | |
Warrants issued pursuant to debt issuance | 179,324 | 180,640 |
Consideration given for acquisition of Helomics | 26,711,790 | |
Debt modification costs | $ 162,750 | |
Shares issued pursuant to CEO note conversion and accrued interest and exchange agreement (in shares) | 2,322,878 | |
Fixed assets acquired for notes receivable and common stock | $ 2,962,767 | |
Increase to operating lease right of use asset and lease liability due to new and modified leases | 1,417,077 | |
Put and conversion derivative from debt issuance and modification | 636,563 | |
Series D preferred stock conversions | 35,000 | |
Fixed assets acquired for financing arrangements | 113,192 | |
Interest paid on debt | 145,831 | 146,064 |
Series E Convertible Preferred Stock [Member] | ||
Non-cash transactions | ||
Series E preferred stock conversion | 13,983 | |
Stock Issued for Convertible Debt [Member] | ||
Non-cash transactions | ||
Stock issued | 1,028,354 | |
Stock Issued for Debt [Member] | ||
Non-cash transactions | ||
Stock issued | 140,555 | |
Paycheck Protection Program CARES Act [Member] | ||
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Gain on extinguishment of PPP loan | $ (541,867) |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Nature of Operations and Continuance of Operations Predictive Oncology Inc., (the “Company” or “Predictive” or “we”) was originally incorporated on April 23, 2002 August 6, 2013, December 16, 2013, August 31, 2015, February 1, 2018, February 1, 2018. February 2, 2018. June 10, 2019, June 13, 2019. October 28, 2019, one ten October 29, 2019. The Company is a healthcare company that provides personalized medicine solution and medical devices in two 1 2 In addition, the Company's wholly-owned subsidiary, TumorGenesis® Inc. (“TumorGenesis”), is developing the next generation, patient-derived tumor models for precision cancer therapy and drug development. TumorGenesis formed during the first 2018, During the first 2018, 25% April 4, 2019, 75% The Company has incurred recurring losses from operations and has an accumulated deficit of $108,383,108. not 2020, January February 2021. On October 24, 2019, $15,000,000 three may 4,353,429 $5,210,581 December 31, 2020, $9,789,419 In January February 2021, $31,077,232 March 1, 2021, $5,906,802 September 2018, September 2019 February 2020 2021 Note 17 We believe that our existing capital resources will be sufficient to support our operating plan at least through March 31, 2022. may We currently expect to use cash on hand, cash flows from operations and capital expenditures, in the next twelve Coronavirus Outbreak In March 2020, 19 not 19 19 may not fourth 2020, 19 may Recently Adopted Accounting Standards In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. 2016 02 January 1, 2019, $353,007 $79,252 2016 02 not The Company leases facilities under long-term operating leases that are non-cancelable and expire on various dates. At the lease commencement date, lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term, which includes all fixed obligations arising from the lease contract. If an interest rate is not 12 Accounting Policies and Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and during the reporting period. Actual results could materially differ from those estimates. Reclassifications Certain reclassifications have been made to the prior years' financial statements to conform to the current year presentation. The reclassifications had no Cash The Company has no December 31, 2020 December 31, 2019. Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation allowance based on management's assessment of the current status of individual accounts. Amounts recorded in accounts receivable on the consolidated balance sheet include amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. An allowance for doubtful accounts is maintained to provide for the estimated amount of receivables that will not 30 30 not $0 December 31, 2020 2019. Fair Value Measurements As outlined in Accounting Standards Codification (“ASC”) 820, Fair Value Measurement 820 three Level 1 Level 2 Level 3 no The Company uses observable market data, when available, in making fair value measurements. Fair value measurements are classified according to the lowest level input that is significant to the valuation. The fair value of the Company's investment securities, which consist of cash, was determined based on Level 1 3 Note 8 Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first first Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation of fixed assets is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers, software and office equipment 3 - 10 Leasehold improvements (1) 2 - 5 Manufacturing tooling 3 - 7 Laboratory equipment 4 - 6 Demo equipment 3 ( 1 Leasehold improvements are amortized over the shorter of the useful life or the remaining lease term. Upon retirement or sale of fixed assets, the cost and related accumulated depreciation or amortization are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations expense as incurred. Long-lived Assets Finite-lived intangible assets consist of patents and trademarks, licensing fees, developed technology, and customer relationships, and are amortized over their estimated useful life. Accumulated amortization is included in intangibles, net in the accompanying consolidated balance sheets. The Company reviews finite-lived identifiable intangible assets for impairment in accordance with ASC 360, Property, Plant and Equipment may not may not not The Company reviews its other intangible assets in accordance with ASC 350, Intangibles—Goodwill and Other not December 31, 2019 $770,250 Given the decrease in the Company's market capitalization from June 30, 2020, September. no December 31, 2020. September 30, 2020. eighteen Because evaluation of other long-lived assets is necessary based on a triggering event, the Company prepared the undiscounted cash flows per ASC 360. no December 31, 2020. Goodwill In accordance with ASC 350, Intangibles – Goodwill and Other not fourth may not To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. The Company first not may first 2017 04, Simplifying the Test for Goodwill Impairment 3 1 The Company recognized loss on impairment goodwill during the year ended December 31, 2020 $12,876,498. Note 11 Based upon the Company's annual goodwill impairment test in 2019, December 31, 2019. December 31, 2019 $8,100,000 The Company will continue to monitor its reporting units to determine whether events and circumstances warrant further interim impairment testing. Impairment of goodwill is not no not Leases – ROU assets represent our right to use an underlying asset for the duration of the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Recognition on the commencement date is based on the present value of lease payments over the lease term using an incremental borrowing rate. Leases with a term of 12 not The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all asset classes. Leases are accounted for at a portfolio level when similar in nature with identical or nearly identical provisions and similar effective dates and lease terms. Revenue Recognition The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised goods or services to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales taxes are imposed on the Company's sales to nonexempt customers. The Company collects the taxes from the customers and remits the entire amounts to the governmental authorities. Sales taxes are excluded from revenue and expenses. Revenue from Product Sales The Company has medical device revenue consisting primarily of sales of the STREAMWAY System, as well as sales of the proprietary cleaning fluid and filters for use with the STREAMWAY System. This revenue stream is reported within both the domestic and international revenue segments. The Company sells its medical device products directly to hospitals and other medical facilities using employed sales representatives and independent contractors. Purchase orders, which are governed by sales agreements in all cases, state the final terms for unit price, quantity, shipping and payment terms. The unit price is considered the observable stand-alone selling price for the arrangements. The Company sales agreement, and Terms and Conditions, is a dually executed contract providing explicit criteria supporting the sale of the STREAMWAY System. The Company considers the combination of a purchase order and acceptance of its Terms and Conditions to be a customer's contract in all cases. Product sales for medical devices consist of a single performance obligation that the Company satisfies at a point in time. The Company recognizes product revenue when the following events have occurred: ( 1 2 3 4 may, may 30 60 Customers may one one one All amounts billed to a customer in a sales transaction for medical devices related to shipping and handling, if any, represent revenues earned for the goods provided, and these amounts have been included in revenue. Costs related to such shipping and handling billing are classified as cost of goods sold. This revenue stream is reported under the Skyline reportable segment. Revenue from Clinical Testing The Precision Oncology Insights are clinic diagnostic testing comprised of the Company's Tumor Drug Response Testing (formerly ChemoFx) and Genomic Profiling (formerly BioSpeciFx) tests. The Tumor Drug Response test determines how a patient's tumor specimen reacts to a panel of various chemotherapy drugs, while the Genomic Profiling test evaluates the expression of a particular gene related to a patient's tumor specimen. Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The estimated uncollectible amounts are generally considered implicit price concessions that are a reduction in revenue. Helomics payments terms vary by the agreements reached with insurance carriers and Medicare. The Company's performance obligations are satisfied at one For service revenues, the Company estimates the transaction price which is the amount of consideration it expects to be entitled to receive in exchange for providing services based on its historical collection experience using a portfolio approach as a practical expedient to account for patient contracts as collective groups rather than individually. The Company monitors its estimates of transaction price to depict conditions that exist at each reporting date. If the Company subsequently determines that it will collect more consideration than it originally estimated for a contract with a patient, it will account for the change as an increase to the estimate of the transaction price, provided that such downward adjustment does not The Company recognizes revenue from these patients when contracts as defined in ASC 606, Revenue from Contracts with Customers 30 CRO Revenue Contract revenues are generally derived from studies conducted with biopharmaceutical and pharmaceutical companies. The specific methodology for revenue recognition is determined on a case-by-case basis according to the facts and circumstances applicable to a given contract. The Company typically uses an input method that recognizes revenue based on the Company's efforts to satisfy the performance obligation relative to the total expected inputs to the satisfaction of that performance obligation. For contracts with multiple performance obligations, the Company allocates the contract's transaction price to each performance obligation on the basis of the standalone-selling price of each distinct good or service in the contract. Advance payments received in excess of revenues recognized are classified as deferred revenue until such time as the revenue recognition criteria have been met. Payment terms are net 30 Variable Consideration The Company records revenue from distributors and direct end customers in an amount that reflects the transaction price it expects to be entitled to after transferring control of those goods or services. The Company's current contracts do not Warranty The Company generally provides one no not Contract Balances The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied. As of December 31, 2020 2019, $256,878 $297,055, The Company's deferred revenues related primarily to maintenance plans of $53,028 $40,384 December 31, 2020 2019, Practical Expedients The Company has elected the practical expedient not Valuation and accounting for stock options and warrants The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility and estimated term. The fair value of each option and warrant grant is estimated on the grant date using the Black-Scholes option valuation model with the following assumptions: For the Year Ended December 31, 2020 2019 Stock Options Expected dividend yield 0.0% 0.0% Expected stock price volatility 82.6% - 87% 78.6% - 82.4% Risk-free interest rate 0.13% - 1.78% 1.50% - 2.76% Expected life (in years) 10 10 Warrants Expected dividend yield 0.0% 0.0% Expected stock price volatility 82.6% - 87% 78.6% - 82.4% Risk-free interest rate 0.135% - 0.79% 1.39% - 2.58% Expected life (in years) 5/ 5 .5 5 Research and Development Research and development costs are charged to operations as incurred. Research and development costs were $372,710 $422,964 2020 2019, Other Expense Other expense consisted primarily of interest expense, payment penalties, amortization of original issue discounts, and loss on debt extinguishment associated to the Company's notes payable. Offering Costs Costs incurred which are direct and incremental to an offering of the Company's securities are deferred and charged against the proceeds of the offering, unless such costs are deemed to be insignificant in which case they are expensed as incurred. Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes 740” 740, There is no 100% The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not no Under Internal Revenue Code Section 382, may not not 382 may Tax years subsequent to 2017 Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high credit quality financial institutions and, by policy, generally limits the amount of credit exposure to any one $238,504 Risks and Uncertainties The Company is subject to risks common to companies in the medical device and biopharmaceutical industries, including, but not The Company has evaluated all of its activities and concluded that no Note 17 |
Note 2 - Helomics Acquisition
Note 2 - Helomics Acquisition | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | NOTE 2 On April 4, 2019, 75% Helomics' precision medicine services are designed to use AI and a comprehensive disease database to improve the effectiveness of cancer therapy. Helomics' precision oncology services are based on its TruTumor™ diagnostic platform, which combines a database of genomic and drug response profiles from over 150,000 The acquisition of Helomics was accounted for as a business combination using the acquisition method of accounting. This method requires, among other things, that assets acquired and liabilities assumed be recognized at fair value as of the acquisition date. The fair value for the assets acquired and the liabilities assumed are based on information knowable and determined by management as of the date of this filing. The Company incurred $656,615 The fair value of the consideration transferred in the acquisition has five $26,711,790. Value of shares to Helomics shareholders (i) $ 5,612,250 Value of Helomics notes receivable forgiven (ii) 2,210,381 Value of shares to extinguish debt (iii) 6,463,309 Value of warrants issued (iv) 6,261,590 Gain on revaluation of equity method investment (v) 6,164,260 Fair value of the consideration $ 26,711,790 Less assets acquired: Cash and cash equivalents 248,102 Accounts receivable 207,769 Inventory 17,727 Prepaid expenses 15,321 Fixed assets, net 1,749,080 Intangible assets 3,725,000 Lease right of use assets 780,594 Plus liabilities assumed: Accounts payable 2,374,596 Note Payable 303,333 Accrued expenses 363,569 Lease Liability – Net of Long-term Portion 422,126 Lease liability 358,468 Total assets acquired and liabilities assumed (2,921,501 ) Goodwill $ 23,790,290 (i) Upon the acquisition, all outstanding shares of Helomics stock not 400,000 3,500,000 $5,612,250; $2,210,381; 863,732 $6,463,309; 1,425,506 23,741,772 59,700 $6,261,590; 25% 2018 $6,164,260 75% 10% The fair values of all common and preferred shares issued as consideration in the transaction was determined using the closing bid price of the Company's common stock on April 4, 2019. The Company did not three not $303,333 October 11, 2019. fourth 2019. 58,300 $1.00 7 Identifiable Intangible Assets The Company acquired intangible assets related to trademarks for the acquired Helomics trade name with an estimated fair market value of $398,000. third 2020, eighteen December 31, 2020. The Company acquired intangible assets with a useful life of three $445,000 The Company acquired intangible assets with a useful life of 20 $2,882,000 The acquisition costs related to the intangible assets are presented in legal and accounting expenses within general and administrative expenses in the accompanying consolidated statements of net loss. Goodwill Goodwill of $23,790,290 None Note 11 Financial Results The financial results of Helomics since the acquisition date have been included in the Company's accompanying consolidated statements of net loss. Pro Forma The following pro forma information presents the combined results of operations of the Company and Helomics as if the acquisition of Helomics had been completed on January 1, 2019, 2019 Unaudited Revenue $ 1,457,625 Net loss attributable to common shareholders $ (20,947,033 ) The primary adjustments include the deduction of the original depreciation and amortization and the inclusion of the revalued depreciation and amortization for Helomics tangible and intangible assets. The unaudited pro forma results do not may not There are certain portions of purchase accounting, specifically Section 382 Tax Loss Carryforwards not may |
Note 3 - Equity Method Investme
Note 3 - Equity Method Investment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | NOTE 3 The Company acquired 25% first 2018. April 4, 2019, zero $439,637 2019 Summarized financial information for Helomics for the year ended December 31, 2019 not January 1, 2019 April 4, 2019 Period January 1, 2019 Revenue $ 45,835 Gross margin 7,348 Net loss on Operations (1,555,542 ) Net Loss (1,166,656 )1 1 75% February 28, 2018 – April 4, 2019 The Helomics losses reduced the equity method investment asset on the balance sheet. The recorded investor losses have exceeded the equity method investment originally recorded total. As such, the equity method investment recorded to the balance sheet was reduced to zero. Subsequent losses reduced the note receivable due from Helomics. |
Note 4 - Inventories
Note 4 - Inventories | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 4 Inventories are stated at the lower of cost or net realizable value, with cost determined on a first first December 31, December 31, Finished goods $ 95,898 $ 91,410 Raw materials 151,366 69,821 Work-In-Process 42,271 28,925 Total $ 289,535 $ 190,156 |
Note 5 - Stockholders' Equity,
Note 5 - Stockholders' Equity, Stock Options and Warrants | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 5 Authorized Shares At the annual meeting on December 28, 2017, 24,000,000 50,000,000 $0.01 January 2, 2018. On March 22, 2019, 50,000,000 100,000,000 $0.01 2019 On February 27, 2019, 138,500 69,250 0.1 0.05 $10.00 fifth $9.00 $1,246,608 $1,111,888. March 1, 2019. 6,925 $11.25 February 27, 2024. On March 26, 2019, 147,875 73,938 0.1 0.05 $10.00 fifth $8.00 $1,183,101 $1,053,460. March 29, 2019. 73,937 $1.00 March 29, 2024. On October 1, 2019, 633,554 $5.00 $3,167,769 $2,811,309. October 4, 2019. 63,355 $6.25 Series D Preferred Stock In April 2019, 3,500,000 10:1 1 50% 2 one April 4, 2020, 3,500,000 350,004 Series E Convertible Preferred Stock In June September 2019, 258 0.056857% six June 13, 2019. 12 $289,935, December 13, 2019. During the first 2020, 50 141,191 May 2020, June 13, 2020 207.7 0.056857% 207.7 June 13, 2020 1,257,416 11.8% June 12, 2020. Equity Line On October 24, 2019, $15,000,000 three 104,651 $450,000 three may 2019, 122,356 $319,196 December 31, 2020, 4,231,073 $4,891,348 December 31, 2020, $9,789,419 March 2020 On March 18, 2020, 260,000 $2.121 1,390,166 $2.12 $0.001 1,650,166 $1.88 five one 1,650,166 $1.88 two September 23, 2020. In addition, and in lieu of common shares, the investors also purchased prefunded warrants to purchase 1,390,166 $2.12 $0.0001 second 2020. The sale of the offering shares, prefunded warrants and A and B warrants resulted in gross proceeds of $3,498,612 $3,127,818 March 18, 2020, Effective September 23, 2020, September, $0.8457, $1.88 Note 8 September 23, 2020. Dr. Schwartz Note Exchange Effective as of April 21, 2020, January 31, 2020 $2,115,000. 1,583,481 $1.43 See Note 6 May 2020 During May 2020, 1,396,826 $0.01 1,396,826 $1.575 $1.45 five one $2,200,001 $1,930,100 May 8, 2020. Acquisition from Soluble Therapeutics and BioDtech On May 27, 2020, two 125,000 may $1,290,000 25,000 six 25,000 nine one may 10,000 six $1,492,500. June 2020 During June 2020, 1,396,826 May 2020 $1.45 $0.125 100% five one $1.80. $2,130,701 $1,865,800 Effective on September 23, 2020, 1,396,826 $0.01 Acquisition of Quantitative Medicine On July 1, 2020, 954,719 $1,470,267. 477,359 207,144 six one may Warrants Issued in Connection with Helomics' Acquisition September 14, 2020, 1,424,506 $0.01 April 4, 2019. September 2020, $0.845, September 11, 2020, $10.00 one ten 1:10 October 29, 2019). $554,287. April 4, 2019 April 4, 2024. See Note 9 Equity Incentive Plan The Company has an equity incentive plan, which allows issuance of incentive and non-qualified stock options to employees, directors and consultants of the Company, where permitted under the plan. The exercise price for each stock option is determined by the market price on the date of issuance. Vesting requirements are determined by the Board of Directors when granted and currently range from immediate to three ten Options and Warrants ASC 718, Compensation – Stock Compensation, (“ASC 718” 718 The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility and estimated term. See Note 1 The following summarizes transactions for stock options and warrants for the periods indicated: Stock Options Warrants Number of Average Number of Average Outstanding at December 31, 2018 366,928 $ 17.03 362,664 $ 41.67 Issued 423,295 6.53 1,869,299 9.25 Forfeited (23,799 ) 13.30 (653 ) 3,249.28 Exercised - - (59,700 ) 0.10 Outstanding at December 31, 2019 766,424 $ 11.34 2,171,610 $ 15.26 Issued 319,851 1.03 8,097,468 1.547 Forfeited (72,728 ) 10.58 (127,710 ) 95.11 Exercised - - (2,786,992 ) 0.79 Outstanding at December 31, 2020 1,013,547 $ 5.41 7,353,376 $ 3.76 At December 31, 2020, 977,420 $5.29 8.76 7,353,376 December 31, 2019, 669,050 $11.93 8.38 2,171,610 December 31, 2019. 2020 2019 $780,269 $2,250,422, $6,390 18 The following summarizes the status of options and warrants outstanding at December 31, 2020: Range of Exercise Prices Shares Weighted Options: $0.732 – 1.47 258,256 9.82 $1.54 – 1.64 350,574 7.83 $2.610 – 8.41 233,919 9.86 $10.10 – 5,962.50 170,798 7.27 Total 1,013,547 Warrants: $0.84 3,300,332 2.96 $1.80 – 2.99 2,019,284 4.77 $5.00 – 10.00 1,809,679 3.22 $10.71 – 22.50 224,081 2.17 Total 7,353,376 Stock options and warrants expire on various dates from August 2022 December 2030. Stock Options and Warrants Granted by the Company The following table is the listing of outstanding stock options and warrants as of December 31, 2020 Stock Options: Year Shares Price 2012 143 1.54 – 1,500.00 2013 148 1.54 – 5,962.50 2014 84 1.54 – 4,312.50 2015 397 1.54 – 862.50 2016 9,395 1.54 – 51.25 2017 222,079 1.54 – 21.00 2018 85,955 1.54 – 13.50 2019 383,311 1.54 – 7.90 2020 312,035 0.732 – 3.48 Total 1,013,547 $ 0.732 – 5,962.50 Warrants: Year Shares Price 2016 25,373 10.00 2017 108,295 10.71 – 22.50 2018 196,946 10.00 – 13.125 2019 1,712,286 2.50 – 11.88 2020 5,310,476 0.846 – 2.992 Total 7,353,376 $ 0.846 – 22.50 |
Note 6 - Notes Receivable
Note 6 - Notes Receivable | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Financing Receivables [Text Block] | NOTE 6– The Company had a secured promissory note receivable from CytoBioscience for $1,112,524 “2017 8% February 28, 2020. 2019, first April 2019. not first 2019. 2019, $1,037,524 2019, On May 27, 2020, two 125,000 may $1,290,000 2017 $1,290,000 $1,492,500. During 2019, $975,000. April 3, 2019, $2,140,013, $70,369 $1,190,967 2 |
Note 7 - Notes Payable
Note 7 - Notes Payable | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 7 The balances of notes payable were as follows: Due Date December 31, 2020 December 31, 2019 2018 Investor loan March 31, 2021 $ 1,721,776 $ 1,989,104 Promissory note 2019 March 27, 2021 1,490,833 680,833 Equity line borrowing May 26, 2020 - 18,563 Equity line borrowing June 10, 2020 - 147,783 Equity line borrowing June 20, 2020 - 194,943 Dr. Schwartz notes September 30, 2020 - 2,115,000 Promissory note 2020 March 31, 2021 1,464,146 - Total Notes Payable, gross 4,676,755 5,146,226 Less: Unamortized discount 244,830 350,426 Total Notes Payable, net $ 4,431,925 $ 4,795,800 Secured Notes and Repayment in Full In September 2018, two $2,297,727 “2018 $2,000,000. 2018 65,000 107,178 $11.55 2018 8% February 2019, 2018 2018 $344,659 16,667 September 2019, 2018 one March 19, 2020, L2 “L2” June 28, 2020. L2 July 15, 2020 July 2020 September 30, 2020. September 30, 2020, L2 March 31, 2021. No 2018 December 31, 2020 $525,926 not December 31, 2020. 2018 December 31, 2020 $1,721,776, $0. Each investor received the right to convert all or any part of its portion of the 2018 December 31, 2020 2019, L2 $267,328 $140,000 170,000 47,556 During September 2019, $847,500 “2019 L2, $700,000. 8,857 68,237 $6.21 sixth fifth 2019 8% March 19, 2020, 2019 March 2020 June 27, 2020. 2019 $300,000 30,000 10% 470, Debt first 2020, $300,000 July 15, 2020 September 30, 2020. September 30, 2020 10% 470, Debt third 2020, $345,000 2019 September 30, 2020. September 30, 2020, 2019 March 31,2021. March 31, 2021 10% 470, Debt third 2020, $690,000 March 31, 2021. $1.00 70% twenty 20 fourth 2020, $525,000 2019 1,136,448 No December 31, 2020 $320,542 not December 31, 2020. December 31, 2020, $1,490,833 $244,830 On February 5, 2020, $1,450,000 “2020 $400,000 third February 5, 2020, March 5, 2020, April 5, 2020, 2020 8% $2.589. September 30, 2020 70% twenty 20 July 15, 2020, September 30, 2020. September 30, 2020 10% 470, Debt third 2020, $172,500 September 30, 2020. September 30, 2020, 2020 March 31, 2021. March 31, 2021 10% 470, Debt third 2020, $345,000 March 31, 2021. 94,631, 92,700 92,700 second third sixth $2.992 46,875 first fourth 2020, $503,354 1,075,911 No December 31, 2020 $314,011 not December 31, 2020. December 31, 2020, $1,464,146 no On March 1, 2021, $5,906,802 February 23, 2021, “2021 2018 2019 2020 Note 17 Dr. Schwartz Notes In November 2018, $370,000. December 31, 2018, one $370,000 $63,028. November 30, 2018 July 15, 2019, $1,920,000 two 22,129 $8.36 February 1, 2019 first October 2019, not During January 2020, two $2,115,000 12% September 30, 2020 50,000 no December 31, 2019. Effective as of April 21, 2020, January 31, 2020 $2,115,000. twelve 12% September 30, 2020. April 21, 2020 $77,878, $2,192,878 1,583,481 $1.43 April 21, 2020. 1 not 766,740 three 2 not 766,741 six 2021, 2020 $143,574 February 24, 2021, 100,401 Helomics Investor Notes As disclosed in Note 2 $303,333 October 2019. $18,216 Short Term Borrowings The Company entered into short-term borrowings with an investor. The maturity date of the notes is six 8% December 31, 2020, $1,098,684 $1,020,000 $1,459,973 $247,327 December 31, 2020. no December 31, 2020. April 2020 On April 20, 2020, $541,867 2 1% 6 60 Pursuant to the terms of the PPP, the promissory note, or a portion thereof, may fourth 2020. |
Note 8 - Derivatives
Note 8 - Derivatives | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 8 The Company concluded the September 2018 20 December 31, 2020, $50,989 $221,757 December 31, 2020 December 31, 2019, zero December 31, 2020 $50,989 December 31, 2019. On May 21, 2019, February 1, 2019 first 5,753 2019. $22,644 zero December 31, 2019, January 2020, The Company concluded the Promissory Note 2020 815, Derivatives and Hedging two $68,796, $52,125 $20,542 second third December 31, 2020, $87,923 December 31, 2020, $104,529. The Company concluded the A, B and agent warrants issued in connection with the March 2020 $2,669,995. third 2020, Note 7 no $700,910 December 31, 2020. December 31, 2020, $33,654 $69,479 December 31, 2020. The Company concluded the warrants and agent warrants issued in connection with the May 2020 $1,324,184. $460,065 December 31, 2020. June 2020, December 31, 2020, $33,819 $48,675 December 31, 2020. In connection with the June 2020 June 2020 $1,749,721. December 31, 2020, June no $834,520 December 31, 2020. $79,045 December 31, 2020. December 31, 2020, $32,701. On September 30, 2020, 2019 2019 815, Derivatives and Hedging $495,100. $405,420 December 31, 2020. December 31, 2020, $89,680. The table below discloses changes in value of the Company's embedded derivative liabilities discussed above. Derivative liability balance at December 31, 2018 $ 272,745 Derivative instrument recognized 69,722 Gain recognized to revalue derivative instrument at fair value (221,756 ) Adjustments to derivative liability for warrants issued (47,078 ) Reduction of derivative liability (22,644 ) Derivative liability balance at December 31, 2019 $ 50,989 Derivative instrument recognized for A, B and Agent Warrants 2,669,995 Derivative instrument related to Promissory Note 2020 120,921 Derivative instrument recognized for May 2020 Warrants 1,324,184 Derivative instrument recognized for June 2020 Warrants 1,749,721 Derivative instrument related to Promissory Note 2020 20,542 Reclassification of Warrant liabilities to Equity on exercise (1,701,756 ) Reclassification of Warrant liabilities to Equity (2,669,408 ) Derivative instrument related to September 30 debt amendments 495,100 Gain recognized to revalue derivative instrument at fair value (1,765,906 ) Derivative liability balance at December 31, 2020 $ 294,382 |
Note 9 - Loss Per Share
Note 9 - Loss Per Share | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 9 The following table presents the shares used in the basic and diluted loss per common share computations: Year Ended 2020 2019 Numerator: Net loss attributable to common shareholders per common share: basic and diluted calculation $ (26,438,684 ) $ (19,680,701 ) Denominator: Weighted average common shares outstanding-basic 11,950,154 2,870,132 Effect of diluted stock options, warrants and preferred stock (1) - - Weighted average common shares outstanding-diluted 11,950,154 2,870,132 Loss per common share-basic and diluted $ (2.21 ) $ (6.86 ) ( 1 Year Ended December 31, 2020 2019 Options 1,013,547 766,424 Warrants 7,353,376 2,171,610 Convertible debt 1,107,544 82,751 Preferred stock: Series B 79,246 79,246 Preferred stock: Series D - 350,000 Preferred stock: Series E - 594,383 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 10 The provision for income taxes consists of an amount for taxes currently payable and a provision for tax consequences deferred to future periods. Deferred income taxes 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. Deferred income 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. There is no 100% Actual income tax benefit differs from statutory federal income tax benefit as follows: Year Ended December 31, 2020 2019 Statutory federal income tax benefit $ 5,434,463 $ 3,977,561 State tax benefit, net of federal taxes 578,746 368,635 Foreign tax benefit 62,146 104,050 Foreign operations tax rate differential (44,120 ) (73,869 ) State rate adjustment 65,112 (17,585 ) R&D tax credit - 51,143 Nondeductible/nontaxable items (268,968 ) 1,183,535 Goodwill impairment (2,762,014 ) (1,701,000 ) NOL adjustments (1,141,662 ) (1,054,778 ) OID and derivatives - 141,908 Helomics purchase adjustment - 66,394,188 Other (461,020 ) 115,896 Valuation allowance increase (1,462,683 ) (69,489,684 ) Total income tax benefit $ - $ - Deferred taxes consist of the following: December 31, 2020 December 31, 2019 Deferred tax assets: Noncurrent: Depreciation $ - $ - Inventory 7,196 6,891 Compensation accruals 63,846 56,670 Accruals and reserves 162,628 - Deferred revenue 11,641 7,480 Charitable contribution carryover 4,331 3,740 Derivatives 63,145 10,708 Related party investments - 657,633 Intangibles 297,639 295,941 Right of use asset 13,861 - NSQO compensation 1,738,217 1,589,430 NOL and credits 80,038,356 78,417,618 Total deferred tax assets 82,400,860 81,046,111 Deferred tax liabilities: Noncurrent: Original issue discount - (14,021 ) Depreciation (295,775 ) (389,689 ) Total deferred tax liabilities (295,775 ) (403,710 ) Net deferred tax assets 82,105,085 80,642,401 Less: valuation allowance (82,105,085 ) (80,642,401 ) Total $ - $ - As a result of the Helomics merger on April 4, 2019, December 31, 2019 may The acquired NOL carryforwards from Helomics experienced an ownership change as defined in Section 382 December 2013. may December 2013, not At December 31, 2019, $291,476,788 2020, 382 $264,379,011 2021 $27,097,777 $213,762,905 December 31, 2019. 2020 $773,455 December 31, 2019. December 31, 2019, $58,991,353, $21,414,302, $236,746, At December 31, 2020, $297,735,754 2021, 382 $261,455,216 2022 $36,280,538 $222,290,524 December 31, 2020. 2021 2020 2020 December 31, 2020, $59,913,739, $22,191,346, $0, Tax years subsequent to 2017 not no The Company recognizes interest and penalties on unrecognized tax benefits as well as interest received from favorable tax settlements within income tax expense. At December 31, 2020 2019, no |
Note 11 - Goodwill and Intangib
Note 11 - Goodwill and Intangibles | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Intangible Assets Disclosure [Text Block] | NOTE 11 Intangible Assets Finite-lived intangible assets consist of patents and trademarks, licensing fees, developed technology, and customer relationships, and are amortized over their estimated useful life. Amortization expense was $313,709 $290,552 2020 2019, 360, Property, Plant and Equipment may not may not not 2019, 350, Intangibles—Goodwill and Other not As of December 31, 2020, $3,398,101 $3,649,412 December 31, 2019. The components of intangible assets were as follows: December 31, 2020 December 31, 2019 Gross Carrying Costs Accumulated Amortization Net Carrying Amount Gross Carrying Costs Accumulated Amortization Net Carrying Amount Patents & Trademarks $ 401,421 $ (211,110 ) $ 190,311 $ 339,023 $ (195,286 ) $ 143,737 Developed Technology 2,882,000 (252,175 ) 2,629,825 2,882,000 (108,075 ) 2,773,925 Customer Relationships 445,000 (259,583 ) 185,417 445,000 (111,250 ) 333,750 Tradename 398,000 (5,452 ) 392,548 398,000 - 398,000 Total $ 4,126,421 $ (728,320 ) $ 3,398,101 $ 4,064,023 $ (414,611 ) $ 3,649,412 The following table outlines the estimated future amortization expense related to intangible assets held as of December 31, 2020: Year ending December 31, Expense 2021 $ 331,071 2022 219,821 2023 182,738 2024 182,738 2025 182,738 Thereafter 2,298,995 Total $ 3,398,101 Impairment of Long-Lived Assets The Company reviews long-lived assets, including property and equipment and intangible assets with estimable useful lives, for impairment whenever events or changes in circumstances indicate that the carrying amount of such an asset may not The recoverability of an asset to be held and used is determined by comparing the carrying amount to the estimated undiscounted future cash flows expected to be generated by the asset. If the carrying amount of the asset exceeded its estimated undiscounted future cash flows, the Company recorded an impairment charge in the amount by which the carrying amount of the asset exceeds its fair value, which is determined by either a quoted market price, if any, or a value determined by utilizing discounted cash flow techniques. No 2020. 2019, $58,500 may not $770,250 Goodwill In accordance with ASC 350, Intangibles – Goodwill and Other not In the Helomics acquisition, the Company recorded goodwill of $23,790,290. not not first may In testing goodwill for impairment as of December 31, 2019, December 31, 2019. 2017 04, December 31, 2019 $8,100,000 When evaluating the fair value of Helomics reporting unit the Company used a discounted cash flow model. Key assumptions used to determine the estimated fair value included: (a) expected cash flow for the 20 3.0% 18.3% 7% third 2020, September 30, 2020, In testing goodwill for impairment as of September 30, 2020, September 30, 2020. September 30, 2020 $2,997,000 When evaluating the fair value of Helomics reporting unit the Company used a discounted cash flow model and market comparisons. 20 3.0% 25% 10% In testing goodwill for impairment as of December 31, 2020, December 31, 2020. 2017 04, Simplifying the Test for Goodwill Impairment December 31, 2020 $9,879,458 0.5% 0.5% $588,000 $988,000, December 31, 2020, $20,976,498. When evaluating the fair value of Helomics reporting unit the Company used a discounted cash flow model. Key assumptions used to determine the estimated fair value in 2020 10 5.0% 14.0% 1.0% The following tables present changes in the carrying value of goodwill our consolidated balance sheet: Goodwill balance at December 31, 2018 $ - Acquired 23,790,290 Impairment (8,100,000 ) Goodwill balance at December 31, 2019 $ 15,690,290 Impairment (12,876,498 ) Goodwill balance at December 31, 2020 $ 2,813,792 The majority of the inputs used in the discounted cash flow model are unobservable and thus are considered to be Level 3 1 not Correction of Immaterial Misstatement to Prior Period Financial Statements During fiscal 2020, December 31, 2019. $8,100,000 $770,250 December 31, 2019. 350 20 45 2, Based on an analysis of ASC 250, Accounting Changes and Error Corrections 250” 99 99” 108 108” not may Accordingly, the Company restated its presentation of loss on goodwill impairment and loss on intangible impairment to reflect the presentation of these losses as distinct line items included within the Company's loss from operations for the fiscal period ended December 31, 2019. |
Note 12 - Leases
Note 12 - Leases | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | NOTE 12 Our corporate offices are located in Eagan, Minnesota. The lease as amended has a three January 31, 2021. 5,773 2,945 2,828 December 31, 2020 one January 31, 2022. The offices of our Helomics subsidiary are located in Pittsburgh, Pennsylvania. The lease, as amended, has a three February 28, 2023. 17,417 1,000 16,417 Soluble Biotech's offices are located in Birmingham, Alabama. We lease approximately 4,314 August 25, 2025. Skyline Medical Europe's offices were located in Belgium. The Company leased around 2,000 750 1,250 fourth 2020. Lease expense under operating lease arrangements was $565,581 $431,170 2020 2019, The following table summarizes other information related to the Company's operating leases: December 31, 2020 December 31, 2019 Weighted average remaining lease term – operating leases in years 2.33 3.28 Weighted average discount rate – operating leases 8 % 8 % The Company's lease obligation as of December 31, 2020 December 31, 2020 2021 689,368 2022 725,759 2023 170,910 2024 71,420 2025 48,552 Total lease payments 1,706,009 Less interest 263,411 Present value of lease liabilities $ 1,442,598 |
Note 13 - Property, Plant and E
Note 13 - Property, Plant and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 13 Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation of fixed assets is computed using the straight-line method over the estimated useful lives of the respective assets. Accumulated depreciation is included in fixed assets, net on the accompanying consolidated balance sheets. Estimated useful life by asset classification is as follows: Years Computers, software and office equipment 3 - 10 Leasehold improvements (1) 5 Manufacturing and laboratory equipment 3 - 7 Demonstration equipment 3 Laboratory equipment 4 ( 1 Leasehold improvements are depreciated over the shorter of the useful life or the remaining lease term. The Company's fixed assets consist of the following: December 31, December 31, Computers, software and office equipment $ 3,638,520 $ 508,143 Leasehold improvements 315,297 188,014 Manufacturing tooling 1,144,116 1,510,165 Demo equipment 56,614 73,051 Total 5,154,547 2,279,373 Less: Accumulated depreciation 1,331,847 771,574 Total fixed assets, net $ 3,822,700 $ 1,507,799 Upon retirement or sale or fixed assets, the cost and related accumulated depreciation are removed from the balance sheet and the resulting gain or loss is reflected in operations expense. Maintenance and repairs are expensed as incurred. Depreciation expense was $711,139 $414,331 2020 2019, |
Note 14 - Segments
Note 14 - Segments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 14 The Company has determined its reportable segments in accordance with ASC 280, Segment Reporting During the third 2020, 280 10 50 3, first third 2020. The Company has three 1 The table below summarizes the reclassified presentation of the Company's segment reporting as of and for years ended December 31, 2020 2019. Year Ended December 31, 2020 Skyline Helomics Soluble Corporate Total Revenue $ 1,185,214 $ 64,188 $ 2,870 $ - $ 1,252,272 Depreciation and Amortization (38,310 ) (761,105 ) (184,071 ) (41,362 ) (1,024,848 ) Impairment expense - (12,876,498 ) - - (12,876,498 ) Loss on equity method investment - - - - - Operating Loss $ (1,132,251 ) $ (15,112,131 ) $ (671,367 ) $ (8,968,648 ) $ (25,884,397 ) December 31, 2020 Skyline Helomics Soluble Corporate Total Assets $ 1,191,439 $ 9,773,902 $ 1,883,585 $ 211,510 $ 13,060,436 Year Ended December 31, 2019 Skyline Helomics Soluble Corporate Total Revenue $ 1,363,118 $ 48,447 $ - $ - $ 1,411,565 Depreciation and Amortization (48,420 ) (556,538 ) - (99,925 ) (704,883 ) Impairment expense - (8,100,000 ) - (770,250 ) (8,870,250 ) Loss on equity method investment - - - (439,637 ) (439,637 ) Operating Loss $ (3,135,290 ) $ (12,354,108 ) $ - $ (3,901,368 ) $ (19,390,766 ) December 31, 2019 Skyline Helomics Soluble Corporate Total Assets $ 969,793 $ 21,275,306 $ - $ 130,411 $ 22,375,510 In 2020, December 31, 2020, |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 15 The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company may One of the Company's directors, Richard L. Gabriel, is the Chief Operating Officer and serves as a director of GLG Pharma (“GLG”). Tim Krochuk, a Company director until December 31, 2019, no Richard L. Gabriel is also contracted as the Chief Operating Officer for TumorGenesis. From January 1, 2019 April 1, 2019, $12,000 six May 1, 2019, one three $13,500 Dr. Carl Schwartz, the Company's CEO, had made investments in the Company in exchange for promissory notes and common stock. See Note 7 |
Note 16 - Retirement Savings Pl
Note 16 - Retirement Savings Plans | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | NOTE 16 The Company has a pre-tax salary reduction/profit-sharing plan under the provisions of Section 401 2019 2018, 100% 4.0% $119,555 $110,714 2020 2019, no 2020 2019. |
Note 17 - Subsequent Events
Note 17 - Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 17 2021 In January February 2021, five first four one two four one two five one 7.5% 1% 7.5% 125% five five one Offering Closing Date Shares Sale Price per Share* Investor Warrants Exercise Price per Share – Investor Warrants Placement Agent Warrants Exercise Price per Share – Placement Agent Warrants Gross Proceeds of Offering Net Proceeds of Offering January 12, 2021 (registered direct) 3,655,840 $ 0.842 1,825,420 $ 0.80 273,813 $ 1.0525 $ 3,074,007 $ 2,731,767 January 21, 2021 (registered direct) 2,200,000 $ 1.00 1,100,000 $ 1.00 165,000 $ 1.25 $ 2,200,000 $ 1,932,050 January 26, 2021 (registered direct) 3,414,970 $ 1.20 1,707,485 $ 1.20 256,123 $ 1.50 $ 4,097,964 $ 3,668,687 February 16, 2021 (registered direct) 4,222,288 $ 1.75 2,111,144 $ 2.00 316,672 $ 2.1875 $ 7,389,004 $ 6,679,989 February 23, 2021 (private placement) 9,043,766 $ 1.95 4,521,883 $ 2.00 678,282 $ 2.4375 $ 17,635,344 $ 16,064,739 Total 22,536,864 11,265,932 1,689,890 $ 34,396,319 $ 31,077,232 * one one 2021 During the period January 1, 2021 February 25, 2021, 4,964,994 $0.63 $4,269,617. On March 1, 2021, $5,906,802 February 23, 2021, 2018 2019 2020 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Nature of Operations and Continuance of Operations Predictive Oncology Inc., (the “Company” or “Predictive” or “we”) was originally incorporated on April 23, 2002 August 6, 2013, December 16, 2013, August 31, 2015, February 1, 2018, February 1, 2018. February 2, 2018. June 10, 2019, June 13, 2019. October 28, 2019, one ten October 29, 2019. The Company is a healthcare company that provides personalized medicine solution and medical devices in two 1 2 In addition, the Company's wholly-owned subsidiary, TumorGenesis® Inc. (“TumorGenesis”), is developing the next generation, patient-derived tumor models for precision cancer therapy and drug development. TumorGenesis formed during the first 2018, During the first 2018, 25% April 4, 2019, 75% The Company has incurred recurring losses from operations and has an accumulated deficit of $108,383,108. not 2020, January February 2021. On October 24, 2019, $15,000,000 three may 4,353,429 $5,210,581 December 31, 2020, $9,789,419 In January February 2021, $31,077,232 March 1, 2021, $5,906,802 September 2018, September 2019 February 2020 2021 Note 17 We believe that our existing capital resources will be sufficient to support our operating plan at least through March 31, 2022. may We currently expect to use cash on hand, cash flows from operations and capital expenditures, in the next twelve |
Effect of Covid-19 Pandemic [Policy Text Block] | Coronavirus Outbreak In March 2020, 19 not 19 19 may not fourth 2020, 19 may |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In February 2016, No. 2016 02, Leases (Topic 842 2016 02” December 15, 2018. 2016 02 January 1, 2019, $353,007 $79,252 2016 02 not The Company leases facilities under long-term operating leases that are non-cancelable and expire on various dates. At the lease commencement date, lease ROU assets and lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term, which includes all fixed obligations arising from the lease contract. If an interest rate is not 12 |
Use of Estimates, Policy [Policy Text Block] | Accounting Policies and Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities at the date of the financial statements and during the reporting period. Actual results could materially differ from those estimates. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain reclassifications have been made to the prior years' financial statements to conform to the current year presentation. The reclassifications had no |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash The Company has no December 31, 2020 December 31, 2019. |
Receivable [Policy Text Block] | Receivables Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation allowance based on management's assessment of the current status of individual accounts. Amounts recorded in accounts receivable on the consolidated balance sheet include amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. An allowance for doubtful accounts is maintained to provide for the estimated amount of receivables that will not 30 30 not $0 December 31, 2020 2019. |
Fair Value Measurement, Policy [Policy Text Block] | Fair Value Measurements As outlined in Accounting Standards Codification (“ASC”) 820, Fair Value Measurement 820 three Level 1 Level 2 Level 3 no The Company uses observable market data, when available, in making fair value measurements. Fair value measurements are classified according to the lowest level input that is significant to the valuation. The fair value of the Company's investment securities, which consist of cash, was determined based on Level 1 3 Note 8 |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or net realizable value, with cost determined on a first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Fixed Assets Fixed assets are stated at cost less accumulated depreciation. Depreciation of fixed assets is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows: Years Computers, software and office equipment 3 - 10 Leasehold improvements (1) 2 - 5 Manufacturing tooling 3 - 7 Laboratory equipment 4 - 6 Demo equipment 3 ( 1 Leasehold improvements are amortized over the shorter of the useful life or the remaining lease term. Upon retirement or sale of fixed assets, the cost and related accumulated depreciation or amortization are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations expense as incurred. |
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block] | Long-lived Assets Finite-lived intangible assets consist of patents and trademarks, licensing fees, developed technology, and customer relationships, and are amortized over their estimated useful life. Accumulated amortization is included in intangibles, net in the accompanying consolidated balance sheets. The Company reviews finite-lived identifiable intangible assets for impairment in accordance with ASC 360, Property, Plant and Equipment may not may not not The Company reviews its other intangible assets in accordance with ASC 350, Intangibles—Goodwill and Other not December 31, 2019 $770,250 Given the decrease in the Company's market capitalization from June 30, 2020, September. no December 31, 2020. September 30, 2020. eighteen Because evaluation of other long-lived assets is necessary based on a triggering event, the Company prepared the undiscounted cash flows per ASC 360. no December 31, 2020. |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill In accordance with ASC 350, Intangibles – Goodwill and Other not fourth may not To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. The Company first not may first 2017 04, Simplifying the Test for Goodwill Impairment 3 1 The Company recognized loss on impairment goodwill during the year ended December 31, 2020 $12,876,498. Note 11 Based upon the Company's annual goodwill impairment test in 2019, December 31, 2019. December 31, 2019 $8,100,000 The Company will continue to monitor its reporting units to determine whether events and circumstances warrant further interim impairment testing. Impairment of goodwill is not no not |
Lessee, Leases [Policy Text Block] | Leases – ROU assets represent our right to use an underlying asset for the duration of the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Recognition on the commencement date is based on the present value of lease payments over the lease term using an incremental borrowing rate. Leases with a term of 12 not The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all asset classes. Leases are accounted for at a portfolio level when similar in nature with identical or nearly identical provisions and similar effective dates and lease terms. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised goods or services to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales taxes are imposed on the Company's sales to nonexempt customers. The Company collects the taxes from the customers and remits the entire amounts to the governmental authorities. Sales taxes are excluded from revenue and expenses. Revenue from Product Sales The Company has medical device revenue consisting primarily of sales of the STREAMWAY System, as well as sales of the proprietary cleaning fluid and filters for use with the STREAMWAY System. This revenue stream is reported within both the domestic and international revenue segments. The Company sells its medical device products directly to hospitals and other medical facilities using employed sales representatives and independent contractors. Purchase orders, which are governed by sales agreements in all cases, state the final terms for unit price, quantity, shipping and payment terms. The unit price is considered the observable stand-alone selling price for the arrangements. The Company sales agreement, and Terms and Conditions, is a dually executed contract providing explicit criteria supporting the sale of the STREAMWAY System. The Company considers the combination of a purchase order and acceptance of its Terms and Conditions to be a customer's contract in all cases. Product sales for medical devices consist of a single performance obligation that the Company satisfies at a point in time. The Company recognizes product revenue when the following events have occurred: ( 1 2 3 4 may, may 30 60 Customers may one one one All amounts billed to a customer in a sales transaction for medical devices related to shipping and handling, if any, represent revenues earned for the goods provided, and these amounts have been included in revenue. Costs related to such shipping and handling billing are classified as cost of goods sold. This revenue stream is reported under the Skyline reportable segment. Revenue from Clinical Testing The Precision Oncology Insights are clinic diagnostic testing comprised of the Company's Tumor Drug Response Testing (formerly ChemoFx) and Genomic Profiling (formerly BioSpeciFx) tests. The Tumor Drug Response test determines how a patient's tumor specimen reacts to a panel of various chemotherapy drugs, while the Genomic Profiling test evaluates the expression of a particular gene related to a patient's tumor specimen. Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The estimated uncollectible amounts are generally considered implicit price concessions that are a reduction in revenue. Helomics payments terms vary by the agreements reached with insurance carriers and Medicare. The Company's performance obligations are satisfied at one For service revenues, the Company estimates the transaction price which is the amount of consideration it expects to be entitled to receive in exchange for providing services based on its historical collection experience using a portfolio approach as a practical expedient to account for patient contracts as collective groups rather than individually. The Company monitors its estimates of transaction price to depict conditions that exist at each reporting date. If the Company subsequently determines that it will collect more consideration than it originally estimated for a contract with a patient, it will account for the change as an increase to the estimate of the transaction price, provided that such downward adjustment does not The Company recognizes revenue from these patients when contracts as defined in ASC 606, Revenue from Contracts with Customers 30 CRO Revenue Contract revenues are generally derived from studies conducted with biopharmaceutical and pharmaceutical companies. The specific methodology for revenue recognition is determined on a case-by-case basis according to the facts and circumstances applicable to a given contract. The Company typically uses an input method that recognizes revenue based on the Company's efforts to satisfy the performance obligation relative to the total expected inputs to the satisfaction of that performance obligation. For contracts with multiple performance obligations, the Company allocates the contract's transaction price to each performance obligation on the basis of the standalone-selling price of each distinct good or service in the contract. Advance payments received in excess of revenues recognized are classified as deferred revenue until such time as the revenue recognition criteria have been met. Payment terms are net 30 Variable Consideration The Company records revenue from distributors and direct end customers in an amount that reflects the transaction price it expects to be entitled to after transferring control of those goods or services. The Company's current contracts do not Warranty The Company generally provides one no not Contract Balances The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied. As of December 31, 2020 2019, $256,878 $297,055, The Company's deferred revenues related primarily to maintenance plans of $53,028 $40,384 December 31, 2020 2019, Practical Expedients The Company has elected the practical expedient not |
Valuation and Accounting for Stock Options and Warrants, Policy [Policy Text Block] | Valuation and accounting for stock options and warrants The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility and estimated term. The fair value of each option and warrant grant is estimated on the grant date using the Black-Scholes option valuation model with the following assumptions: For the Year Ended December 31, 2020 2019 Stock Options Expected dividend yield 0.0% 0.0% Expected stock price volatility 82.6% - 87% 78.6% - 82.4% Risk-free interest rate 0.13% - 1.78% 1.50% - 2.76% Expected life (in years) 10 10 Warrants Expected dividend yield 0.0% 0.0% Expected stock price volatility 82.6% - 87% 78.6% - 82.4% Risk-free interest rate 0.135% - 0.79% 1.39% - 2.58% Expected life (in years) 5/ 5 .5 5 |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are charged to operations as incurred. Research and development costs were $372,710 $422,964 2020 2019, |
Other Expense Policy [Policy Text Block] | Other Expense Other expense consisted primarily of interest expense, payment penalties, amortization of original issue discounts, and loss on debt extinguishment associated to the Company's notes payable. |
Offering Costs [Policy Text Block] | Offering Costs Costs incurred which are direct and incremental to an offering of the Company's securities are deferred and charged against the proceeds of the offering, unless such costs are deemed to be insignificant in which case they are expensed as incurred. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes 740” 740, There is no 100% The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than not no Under Internal Revenue Code Section 382, may not not 382 may Tax years subsequent to 2017 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Credit Risk Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash. The Company places its cash with high credit quality financial institutions and, by policy, generally limits the amount of credit exposure to any one $238,504 |
Risks and Uncertainties Policy [Policy Text Block] | Risks and Uncertainties The Company is subject to risks common to companies in the medical device and biopharmaceutical industries, including, but not The Company has evaluated all of its activities and concluded that no Note 17 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property Plant and Equipment Useful Life [Table Text Block] | Years Computers, software and office equipment 3 - 10 Leasehold improvements (1) 2 - 5 Manufacturing tooling 3 - 7 Laboratory equipment 4 - 6 Demo equipment 3 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | For the Year Ended December 31, 2020 2019 Stock Options Expected dividend yield 0.0% 0.0% Expected stock price volatility 82.6% - 87% 78.6% - 82.4% Risk-free interest rate 0.13% - 1.78% 1.50% - 2.76% Expected life (in years) 10 10 Warrants Expected dividend yield 0.0% 0.0% Expected stock price volatility 82.6% - 87% 78.6% - 82.4% Risk-free interest rate 0.135% - 0.79% 1.39% - 2.58% Expected life (in years) 5/ 5 .5 5 |
Note 2 - Helomics Acquisition (
Note 2 - Helomics Acquisition (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Value of shares to Helomics shareholders (i) $ 5,612,250 Value of Helomics notes receivable forgiven (ii) 2,210,381 Value of shares to extinguish debt (iii) 6,463,309 Value of warrants issued (iv) 6,261,590 Gain on revaluation of equity method investment (v) 6,164,260 Fair value of the consideration $ 26,711,790 Less assets acquired: Cash and cash equivalents 248,102 Accounts receivable 207,769 Inventory 17,727 Prepaid expenses 15,321 Fixed assets, net 1,749,080 Intangible assets 3,725,000 Lease right of use assets 780,594 Plus liabilities assumed: Accounts payable 2,374,596 Note Payable 303,333 Accrued expenses 363,569 Lease Liability – Net of Long-term Portion 422,126 Lease liability 358,468 Total assets acquired and liabilities assumed (2,921,501 ) Goodwill $ 23,790,290 |
Business Acquisition, Pro Forma Information [Table Text Block] | 2019 Unaudited Revenue $ 1,457,625 Net loss attributable to common shareholders $ (20,947,033 ) |
Note 3 - Equity Method Invest_2
Note 3 - Equity Method Investment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Equity Method Investments [Table Text Block] | Period January 1, 2019 Revenue $ 45,835 Gross margin 7,348 Net loss on Operations (1,555,542 ) Net Loss (1,166,656 )1 |
Note 4 - Inventories (Tables)
Note 4 - Inventories (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, December 31, Finished goods $ 95,898 $ 91,410 Raw materials 151,366 69,821 Work-In-Process 42,271 28,925 Total $ 289,535 $ 190,156 |
Note 5 - Stockholders' Equity_2
Note 5 - Stockholders' Equity, Stock Options and Warrants (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Activity [Table Text Block] | Stock Options Warrants Number of Average Number of Average Outstanding at December 31, 2018 366,928 $ 17.03 362,664 $ 41.67 Issued 423,295 6.53 1,869,299 9.25 Forfeited (23,799 ) 13.30 (653 ) 3,249.28 Exercised - - (59,700 ) 0.10 Outstanding at December 31, 2019 766,424 $ 11.34 2,171,610 $ 15.26 Issued 319,851 1.03 8,097,468 1.547 Forfeited (72,728 ) 10.58 (127,710 ) 95.11 Exercised - - (2,786,992 ) 0.79 Outstanding at December 31, 2020 1,013,547 $ 5.41 7,353,376 $ 3.76 |
Schedule of Share-based Compensation Shares Authorized Under Stock Option and Warrant Plans by Exercise Price Range [Table Text Block] | Range of Exercise Prices Shares Weighted Options: $0.732 – 1.47 258,256 9.82 $1.54 – 1.64 350,574 7.83 $2.610 – 8.41 233,919 9.86 $10.10 – 5,962.50 170,798 7.27 Total 1,013,547 Warrants: $0.84 3,300,332 2.96 $1.80 – 2.99 2,019,284 4.77 $5.00 – 10.00 1,809,679 3.22 $10.71 – 22.50 224,081 2.17 Total 7,353,376 |
Disclosure of Share-based Compensation Arrangements by Share-based Payment Award [Table Text Block] | Year Shares Price 2012 143 1.54 – 1,500.00 2013 148 1.54 – 5,962.50 2014 84 1.54 – 4,312.50 2015 397 1.54 – 862.50 2016 9,395 1.54 – 51.25 2017 222,079 1.54 – 21.00 2018 85,955 1.54 – 13.50 2019 383,311 1.54 – 7.90 2020 312,035 0.732 – 3.48 Total 1,013,547 $ 0.732 – 5,962.50 Year Shares Price 2016 25,373 10.00 2017 108,295 10.71 – 22.50 2018 196,946 10.00 – 13.125 2019 1,712,286 2.50 – 11.88 2020 5,310,476 0.846 – 2.992 Total 7,353,376 $ 0.846 – 22.50 |
Note 7 - Notes Payable (Tables)
Note 7 - Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Short-term Debt [Table Text Block] | Due Date December 31, 2020 December 31, 2019 2018 Investor loan March 31, 2021 $ 1,721,776 $ 1,989,104 Promissory note 2019 March 27, 2021 1,490,833 680,833 Equity line borrowing May 26, 2020 - 18,563 Equity line borrowing June 10, 2020 - 147,783 Equity line borrowing June 20, 2020 - 194,943 Dr. Schwartz notes September 30, 2020 - 2,115,000 Promissory note 2020 March 31, 2021 1,464,146 - Total Notes Payable, gross 4,676,755 5,146,226 Less: Unamortized discount 244,830 350,426 Total Notes Payable, net $ 4,431,925 $ 4,795,800 |
Note 8 - Derivatives (Tables)
Note 8 - Derivatives (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Derivative Liabilities at Fair Value [Table Text Block] | Derivative liability balance at December 31, 2018 $ 272,745 Derivative instrument recognized 69,722 Gain recognized to revalue derivative instrument at fair value (221,756 ) Adjustments to derivative liability for warrants issued (47,078 ) Reduction of derivative liability (22,644 ) Derivative liability balance at December 31, 2019 $ 50,989 Derivative instrument recognized for A, B and Agent Warrants 2,669,995 Derivative instrument related to Promissory Note 2020 120,921 Derivative instrument recognized for May 2020 Warrants 1,324,184 Derivative instrument recognized for June 2020 Warrants 1,749,721 Derivative instrument related to Promissory Note 2020 20,542 Reclassification of Warrant liabilities to Equity on exercise (1,701,756 ) Reclassification of Warrant liabilities to Equity (2,669,408 ) Derivative instrument related to September 30 debt amendments 495,100 Gain recognized to revalue derivative instrument at fair value (1,765,906 ) Derivative liability balance at December 31, 2020 $ 294,382 |
Note 9 - Loss Per Share (Tables
Note 9 - Loss Per Share (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Year Ended 2020 2019 Numerator: Net loss attributable to common shareholders per common share: basic and diluted calculation $ (26,438,684 ) $ (19,680,701 ) Denominator: Weighted average common shares outstanding-basic 11,950,154 2,870,132 Effect of diluted stock options, warrants and preferred stock (1) - - Weighted average common shares outstanding-diluted 11,950,154 2,870,132 Loss per common share-basic and diluted $ (2.21 ) $ (6.86 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Year Ended December 31, 2020 2019 Options 1,013,547 766,424 Warrants 7,353,376 2,171,610 Convertible debt 1,107,544 82,751 Preferred stock: Series B 79,246 79,246 Preferred stock: Series D - 350,000 Preferred stock: Series E - 594,383 |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2020 2019 Statutory federal income tax benefit $ 5,434,463 $ 3,977,561 State tax benefit, net of federal taxes 578,746 368,635 Foreign tax benefit 62,146 104,050 Foreign operations tax rate differential (44,120 ) (73,869 ) State rate adjustment 65,112 (17,585 ) R&D tax credit - 51,143 Nondeductible/nontaxable items (268,968 ) 1,183,535 Goodwill impairment (2,762,014 ) (1,701,000 ) NOL adjustments (1,141,662 ) (1,054,778 ) OID and derivatives - 141,908 Helomics purchase adjustment - 66,394,188 Other (461,020 ) 115,896 Valuation allowance increase (1,462,683 ) (69,489,684 ) Total income tax benefit $ - $ - |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31, 2020 December 31, 2019 Deferred tax assets: Noncurrent: Depreciation $ - $ - Inventory 7,196 6,891 Compensation accruals 63,846 56,670 Accruals and reserves 162,628 - Deferred revenue 11,641 7,480 Charitable contribution carryover 4,331 3,740 Derivatives 63,145 10,708 Related party investments - 657,633 Intangibles 297,639 295,941 Right of use asset 13,861 - NSQO compensation 1,738,217 1,589,430 NOL and credits 80,038,356 78,417,618 Total deferred tax assets 82,400,860 81,046,111 Deferred tax liabilities: Noncurrent: Original issue discount - (14,021 ) Depreciation (295,775 ) (389,689 ) Total deferred tax liabilities (295,775 ) (403,710 ) Net deferred tax assets 82,105,085 80,642,401 Less: valuation allowance (82,105,085 ) (80,642,401 ) Total $ - $ - |
Note 11 - Goodwill and Intang_2
Note 11 - Goodwill and Intangibles (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | December 31, 2020 December 31, 2019 Gross Carrying Costs Accumulated Amortization Net Carrying Amount Gross Carrying Costs Accumulated Amortization Net Carrying Amount Patents & Trademarks $ 401,421 $ (211,110 ) $ 190,311 $ 339,023 $ (195,286 ) $ 143,737 Developed Technology 2,882,000 (252,175 ) 2,629,825 2,882,000 (108,075 ) 2,773,925 Customer Relationships 445,000 (259,583 ) 185,417 445,000 (111,250 ) 333,750 Tradename 398,000 (5,452 ) 392,548 398,000 - 398,000 Total $ 4,126,421 $ (728,320 ) $ 3,398,101 $ 4,064,023 $ (414,611 ) $ 3,649,412 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year ending December 31, Expense 2021 $ 331,071 2022 219,821 2023 182,738 2024 182,738 2025 182,738 Thereafter 2,298,995 Total $ 3,398,101 |
Schedule of Goodwill [Table Text Block] | Goodwill balance at December 31, 2018 $ - Acquired 23,790,290 Impairment (8,100,000 ) Goodwill balance at December 31, 2019 $ 15,690,290 Impairment (12,876,498 ) Goodwill balance at December 31, 2020 $ 2,813,792 |
Note 12 - Leases (Tables)
Note 12 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | December 31, 2020 December 31, 2019 Weighted average remaining lease term – operating leases in years 2.33 3.28 Weighted average discount rate – operating leases 8 % 8 % |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2021 689,368 2022 725,759 2023 170,910 2024 71,420 2025 48,552 Total lease payments 1,706,009 Less interest 263,411 Present value of lease liabilities $ 1,442,598 |
Note 13 - Property, Plant and_2
Note 13 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Estimated Useful Life by Asset Classification [Table Text Block] | Years Computers, software and office equipment 3 - 10 Leasehold improvements (1) 5 Manufacturing and laboratory equipment 3 - 7 Demonstration equipment 3 Laboratory equipment 4 |
Property, Plant and Equipment [Table Text Block] | December 31, December 31, Computers, software and office equipment $ 3,638,520 $ 508,143 Leasehold improvements 315,297 188,014 Manufacturing tooling 1,144,116 1,510,165 Demo equipment 56,614 73,051 Total 5,154,547 2,279,373 Less: Accumulated depreciation 1,331,847 771,574 Total fixed assets, net $ 3,822,700 $ 1,507,799 |
Note 14 - Segments (Tables)
Note 14 - Segments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2020 Skyline Helomics Soluble Corporate Total Revenue $ 1,185,214 $ 64,188 $ 2,870 $ - $ 1,252,272 Depreciation and Amortization (38,310 ) (761,105 ) (184,071 ) (41,362 ) (1,024,848 ) Impairment expense - (12,876,498 ) - - (12,876,498 ) Loss on equity method investment - - - - - Operating Loss $ (1,132,251 ) $ (15,112,131 ) $ (671,367 ) $ (8,968,648 ) $ (25,884,397 ) December 31, 2020 Skyline Helomics Soluble Corporate Total Assets $ 1,191,439 $ 9,773,902 $ 1,883,585 $ 211,510 $ 13,060,436 Year Ended December 31, 2019 Skyline Helomics Soluble Corporate Total Revenue $ 1,363,118 $ 48,447 $ - $ - $ 1,411,565 Depreciation and Amortization (48,420 ) (556,538 ) - (99,925 ) (704,883 ) Impairment expense - (8,100,000 ) - (770,250 ) (8,870,250 ) Loss on equity method investment - - - (439,637 ) (439,637 ) Operating Loss $ (3,135,290 ) $ (12,354,108 ) $ - $ (3,901,368 ) $ (19,390,766 ) December 31, 2019 Skyline Helomics Soluble Corporate Total Assets $ 969,793 $ 21,275,306 $ - $ 130,411 $ 22,375,510 |
Note 17 - Subsequent Events (Ta
Note 17 - Subsequent Events (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Sales of Stock [Table Text Block] | Offering Closing Date Shares Sale Price per Share* Investor Warrants Exercise Price per Share – Investor Warrants Placement Agent Warrants Exercise Price per Share – Placement Agent Warrants Gross Proceeds of Offering Net Proceeds of Offering January 12, 2021 (registered direct) 3,655,840 $ 0.842 1,825,420 $ 0.80 273,813 $ 1.0525 $ 3,074,007 $ 2,731,767 January 21, 2021 (registered direct) 2,200,000 $ 1.00 1,100,000 $ 1.00 165,000 $ 1.25 $ 2,200,000 $ 1,932,050 January 26, 2021 (registered direct) 3,414,970 $ 1.20 1,707,485 $ 1.20 256,123 $ 1.50 $ 4,097,964 $ 3,668,687 February 16, 2021 (registered direct) 4,222,288 $ 1.75 2,111,144 $ 2.00 316,672 $ 2.1875 $ 7,389,004 $ 6,679,989 February 23, 2021 (private placement) 9,043,766 $ 1.95 4,521,883 $ 2.00 678,282 $ 2.4375 $ 17,635,344 $ 16,064,739 Total 22,536,864 11,265,932 1,689,890 $ 34,396,319 $ 31,077,232 |
Note 1 - Summary of Significa_3
Note 1 - Summary of Significant Accounting Policies (Details Textual) | Mar. 01, 2021USD ($) | Oct. 29, 2019 | Oct. 28, 2019 | Oct. 24, 2019USD ($)shares | Feb. 23, 2021USD ($)shares | Oct. 31, 2019USD ($) | Feb. 28, 2021USD ($) | Dec. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | Apr. 04, 2019 | Jan. 01, 2019USD ($) | Mar. 31, 2018 |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (108,383,108) | $ (108,383,108) | $ (82,498,711) | |||||||||||
Repayments of Debt | 1,472,389 | 1,154,513 | ||||||||||||
Operating Lease, Right-of-Use Asset | 1,395,351 | 1,395,351 | 729,745 | |||||||||||
Operating Lease, Liability, Current | 597,469 | 597,469 | 459,481 | |||||||||||
Accounts Receivable, Allowance for Credit Loss, Current | 0 | 0 | 0 | |||||||||||
Impairment of Intangible Assets (Excluding Goodwill), Total | 0 | 770,250 | ||||||||||||
Goodwill, Impairment Loss | 9,879,458 | $ 2,997,000 | 12,876,498 | 8,100,000 | ||||||||||
Accounts Receivable, after Allowance for Credit Loss, Total | 256,878 | 256,878 | 297,055 | |||||||||||
Contract with Customer, Liability, Total | 53,028 | 53,028 | 40,384 | |||||||||||
Research and Development Expense, Total | 372,710 | 422,964 | ||||||||||||
Income Tax Expense (Benefit), Total | 0 | |||||||||||||
Unrecognized Tax Benefits, Ending Balance | 0 | 0 | ||||||||||||
Cash, Uninsured Amount | 238,504 | 238,504 | ||||||||||||
Licensing Agreements [Member] | ||||||||||||||
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 0 | $ 770,250 | ||||||||||||
Accounting Standards Update 2016-02 [Member] | ||||||||||||||
Operating Lease, Right-of-Use Asset | $ 353,007 | |||||||||||||
Operating Lease, Liability, Current | $ 79,252 | |||||||||||||
Subsequent Event [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 22,536,864 | |||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ 31,077,232 | $ 31,077,232 | ||||||||||||
Subsequent Event [Member] | Debt Issued in September 2018, September, 2019, and February 2020 [Member] | ||||||||||||||
Repayments of Debt | $ 5,906,802 | |||||||||||||
Equity Line Purchase Agreement [Member] | ||||||||||||||
Issuance or Sale of Equity, Can Be Raised | $ 15,000,000 | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 104,651 | 4,231,073 | 122,356 | |||||||||||
Stock Issued During Period, Value, New Issues | $ 450,000 | $ 4,891,348 | $ 319,196 | |||||||||||
Sale of Stock, Remaining Available Balance | 9,789,419 | $ 9,789,419 | ||||||||||||
Equity Line Purchase Agreement [Member] | Investor [Member] | ||||||||||||||
Issuance or Sale of Equity, Can Be Raised | $ 15,000,000 | |||||||||||||
Sale of Equity, Term (Year) | 3 years | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 4,353,429 | |||||||||||||
Stock Issued During Period, Value, New Issues | $ 5,210,581 | |||||||||||||
Sale of Stock, Remaining Available Balance | $ 9,789,419 | $ 9,789,419 | ||||||||||||
Helomics Holding Corp. [Member] | ||||||||||||||
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage | 25.00% | |||||||||||||
Business Acquisition, Percentage of Voting Interests Acquired | 75.00% | |||||||||||||
Reverse Stock Split [Member] | ||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 0.1 | 10 |
Note 1 - Summary of Significa_4
Note 1 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment, Useful Life (Details) | 12 Months Ended | |
Dec. 31, 2020 | ||
Leasehold Improvements [Member] | ||
Computers, software and office equipment (Year) | 5 years | [1] |
Laboratory Equipment [Member] | ||
Computers, software and office equipment (Year) | 4 years | |
Demo Equipment [Member] | ||
Computers, software and office equipment (Year) | 3 years | |
Minimum [Member] | Office Equipment [Member] | ||
Computers, software and office equipment (Year) | 3 years | |
Minimum [Member] | Leasehold Improvements [Member] | ||
Computers, software and office equipment (Year) | 2 years | [2] |
Minimum [Member] | Manufacturing Tooling [Member] | ||
Computers, software and office equipment (Year) | 3 years | |
Minimum [Member] | Laboratory Equipment [Member] | ||
Computers, software and office equipment (Year) | 4 years | |
Maximum [Member] | Office Equipment [Member] | ||
Computers, software and office equipment (Year) | 10 years | |
Maximum [Member] | Leasehold Improvements [Member] | ||
Computers, software and office equipment (Year) | 5 years | [2] |
Maximum [Member] | Manufacturing Tooling [Member] | ||
Computers, software and office equipment (Year) | 7 years | |
Maximum [Member] | Laboratory Equipment [Member] | ||
Computers, software and office equipment (Year) | 6 years | |
[1] | Leasehold improvements are depreciated over the shorter of the useful life or the remaining lease term. | |
[2] | Leasehold improvements are depreciated over the shorter of the useful life or the remaining lease term. |
Note 1 - Summary of Significa_5
Note 1 - Summary of Significant Accounting Policies - Valuation Assumptions (Details) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019yr | Dec. 31, 2020yr | |
Expected dividend yield | 0.00% | 0.00% | |
Expected life (in years) (Year) | 10 years | 10 years | |
Measurement Input, Expected Dividend Rate [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0 | 0 | |
Measurement Input, Risk Free Interest Rate [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 5 | ||
Minimum [Member] | |||
Expected stock price volatility | 82.60% | 78.60% | |
Risk-free interest rate | 0.13% | 1.50% | |
Minimum [Member] | Measurement Input, Price Volatility [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0.826 | 0.786 | |
Minimum [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0.00135 | 0.0139 | 5 |
Maximum [Member] | |||
Expected stock price volatility | 87.00% | 82.40% | |
Risk-free interest rate | 1.78% | 2.76% | |
Maximum [Member] | Measurement Input, Price Volatility [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0.87 | 0.824 | |
Maximum [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 0.0079 | 0.0258 | 5.5 |
Note 2 - Helomics Acquisition_2
Note 2 - Helomics Acquisition (Details Textual) - USD ($) | Apr. 04, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Stock Issued During Period, Value, Extinguishment of Debt | $ 6,463,309 | ||||
Warrants Issued | 47,078 | ||||
Debt Instrument, Face Amount | 4,676,755 | 5,146,226 | |||
Goodwill, Ending Balance | $ 2,813,792 | $ 15,690,290 | |||
Notes Issued to Helomics' Noteholders [Member] | |||||
Debt Instrument, Face Amount | $ 303,333 | ||||
Warrants Held by Noteholders [Member] | |||||
Class of Warrant or Right Issued During Period (in shares) | 58,300 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | ||||
Helomics Holding Corp. [Member] | |||||
Business Acquisition, Percentage of Voting Interests Acquired | 75.00% | ||||
Business Combination, Acquisition Related Costs | $ 656,615 | ||||
Business Combination, Consideration Transferred, Total | 26,711,790 | ||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | [1] | 5,612,250 | |||
Business Combination, Notes and Interest Due Forgave | [2] | $ 2,210,381 | |||
Stock Issued During Period, Shares, Extinguishment of Debt (in shares) | 863,732 | ||||
Stock Issued During Period, Value, Extinguishment of Debt | [3] | $ 6,463,309 | |||
Stock Issued During Period, Shares, Acquisitions (in shares) | 23,741,772 | ||||
Warrants Issued | [4] | $ 6,261,590 | |||
Business Acquisition, Revaluation, Gain (Loss) on Acquisition | [5] | 6,164,260 | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 3,725,000 | ||||
Goodwill, Ending Balance | 23,790,290 | ||||
Helomics Holding Corp. [Member] | Trade Names [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 398,000 | ||||
Helomics Holding Corp. [Member] | Customer Relationships [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 445,000 | ||||
Finite-Lived Intangible Asset, Useful Life (Year) | 3 years | ||||
Helomics Holding Corp. [Member] | Developed Technology Rights [Member] | |||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | $ 2,882,000 | ||||
Finite-Lived Intangible Asset, Useful Life (Year) | 20 years | ||||
Helomics Holding Corp. [Member] | Warrants Issued to Holders of Helomics Notes and Warrants [Member] | |||||
Class of Warrant or Right Issued During Period (in shares) | 1,425,506 | ||||
Helomics Holding Corp. [Member] | Warrants Held by Other Parties [Member] | |||||
Class of Warrant or Right Issued During Period (in shares) | 59,700 | ||||
Helomics Holding Corp. [Member] | Common Stock [Member] | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 400,000 | ||||
Helomics Holding Corp. [Member] | Series D Convertible Preferred Stock [Member] | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 3,500,000 | ||||
[1] | Upon the acquisition, all outstanding shares of Helomics stock not already held by the Company were converted into the right to receive a proportionate share of 400,000 shares of common stock and 3,500,000 shares of Series D convertible preferred stock of the Company. The fair value of these shares on the date of issuance was $5,612,250; | ||||
[2] | the Company forgave notes and interest due from Helomics relating to previous cash advances equaling $2,210,381; | ||||
[3] | the Company eliminated debt owed by Helomics to noteholders by issuing 863,732 shares of common stock to the noteholders, the value of the shares was $6,463,309; | ||||
[4] | the Company issued 1,425,506 warrants in exchange for warrants to purchase 23,741,772 shares of Helomics common stock to the Helomics noteholders agreeing to extinguish or extend their notes. An additional 59,700 warrants were exchanged for warrants held by other parties; the total consideration of all the exchanged warrants was valued by using the Black Scholes method and equaled $6,261,590; | ||||
[5] | as the Company's acquisition of Helomics was a business combination achieved in stages, the initial 25% purchase of Helomics in 2018 was required to be revalued at current fair value on the acquisition date. Immediately prior to the acquisition date the recorded value of the equity method investment was zero. On the acquisition date the Company determined the fair value of the previous equity method investment was $6,164,260 and recorded a gain for the same amount in order to recognize the investment at its fair value. The gain was calculated as the difference between the implied fair value of the Company's previous equity method investment in Helomics and the recorded book value immediately prior to the acquisition date. The implied fair value was calculated based on the purchase consideration exchanged to acquire the remaining 75% of Helomics and factoring a 10% discount for lack of control. |
Note 2 - Helomics Acquisition -
Note 2 - Helomics Acquisition - Fair value of Assets and Liabilities Assumed (Details) - USD ($) | Apr. 04, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Value of shares to extinguish debt (iii) | $ 6,463,309 | ||||
Value of warrants issued (iv) | 47,078 | ||||
Goodwill, Ending Balance | $ 2,813,792 | $ 15,690,290 | |||
Helomics Holding Corp. [Member] | |||||
Value of shares to Helomics shareholders (i) | [1] | $ 5,612,250 | |||
Value of Helomics notes receivable forgiven (ii) | [2] | 2,210,381 | |||
Value of shares to extinguish debt (iii) | [3] | 6,463,309 | |||
Value of warrants issued (iv) | [4] | 6,261,590 | |||
Business Acquisition, Revaluation, Gain (Loss) on Acquisition | [5] | 6,164,260 | |||
Fair value of the consideration | 26,711,790 | ||||
Cash and cash equivalents | 248,102 | ||||
Accounts receivable | 207,769 | ||||
Inventory | 17,727 | ||||
Prepaid expenses | 15,321 | ||||
Fixed assets, net | 1,749,080 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Intangible Assets, Other than Goodwill, Total | 3,725,000 | ||||
Lease right of use assets | 780,594 | ||||
Accounts payable | 2,374,596 | ||||
Note Payable | 303,333 | ||||
Accrued expenses | 363,569 | ||||
Lease Liability – Net of Long-term Portion | 422,126 | ||||
Lease liability | 358,468 | ||||
Total assets acquired and liabilities assumed | (2,921,501) | ||||
Goodwill, Ending Balance | $ 23,790,290 | ||||
[1] | Upon the acquisition, all outstanding shares of Helomics stock not already held by the Company were converted into the right to receive a proportionate share of 400,000 shares of common stock and 3,500,000 shares of Series D convertible preferred stock of the Company. The fair value of these shares on the date of issuance was $5,612,250; | ||||
[2] | the Company forgave notes and interest due from Helomics relating to previous cash advances equaling $2,210,381; | ||||
[3] | the Company eliminated debt owed by Helomics to noteholders by issuing 863,732 shares of common stock to the noteholders, the value of the shares was $6,463,309; | ||||
[4] | the Company issued 1,425,506 warrants in exchange for warrants to purchase 23,741,772 shares of Helomics common stock to the Helomics noteholders agreeing to extinguish or extend their notes. An additional 59,700 warrants were exchanged for warrants held by other parties; the total consideration of all the exchanged warrants was valued by using the Black Scholes method and equaled $6,261,590; | ||||
[5] | as the Company's acquisition of Helomics was a business combination achieved in stages, the initial 25% purchase of Helomics in 2018 was required to be revalued at current fair value on the acquisition date. Immediately prior to the acquisition date the recorded value of the equity method investment was zero. On the acquisition date the Company determined the fair value of the previous equity method investment was $6,164,260 and recorded a gain for the same amount in order to recognize the investment at its fair value. The gain was calculated as the difference between the implied fair value of the Company's previous equity method investment in Helomics and the recorded book value immediately prior to the acquisition date. The implied fair value was calculated based on the purchase consideration exchanged to acquire the remaining 75% of Helomics and factoring a 10% discount for lack of control. |
Note 2 - Helomics Acquisition_3
Note 2 - Helomics Acquisition - Pro Forma Information (Details) | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Revenue | $ 1,457,625 |
Net loss attributable to common shareholders | $ (20,947,033) |
Note 3 - Equity Method Invest_3
Note 3 - Equity Method Investment (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |||
Mar. 31, 2018 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 04, 2019 | Dec. 31, 2018 | |
Income (Loss) from Equity Method Investments, Total | $ (439,637) | ||||
Helomics Holding Corp. [Member] | |||||
Equity Method Investment, Ownership Percentage, Purchased During Period | 25.00% | ||||
Equity Method Investments | $ 0 | ||||
Income (Loss) from Equity Method Investments, Total | $ (439,637) | ||||
Equity Method Investment, Ownership Percentage | 75.00% |
Note 3 - Equity Method Invest_4
Note 3 - Equity Method Investment - Summary of Equity Method Investments (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Apr. 04, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | ||
Gross margin | $ 805,080 | $ 879,755 | ||
Net loss on Operations | (25,360,037) | (22,644,743) | ||
Net Loss | $ (25,884,397) | $ (19,390,766) | ||
Helomics Holding Corp. [Member] | Equity Method Investment, Nonconsolidated Investee or Group of Investees [Member] | ||||
Revenue | $ 45,835 | |||
Gross margin | 7,348 | |||
Net loss on Operations | (1,555,542) | |||
Net Loss | [1] | $ (1,166,656) | ||
[1] | The loss to investee was calculated at 80% for the initial period of ownership, January 11, 2018 - February 27, 2018, and at 75% for the period of February 28, 2018 - April 4, 2019 at the current equity investment percentage owned by the Company. |
Note 4 - Inventories - Schedule
Note 4 - Inventories - Schedule of Inventory (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Finished goods | $ 95,898 | $ 91,410 |
Raw materials | 151,366 | 69,821 |
Work-In-Process | 42,271 | 28,925 |
Total | $ 289,535 | $ 190,156 |
Note 5 - Stockholders' Equity_3
Note 5 - Stockholders' Equity, Stock Options and Warrants (Details Textual) | Sep. 14, 2020USD ($)$ / sharesshares | Jul. 01, 2020USD ($)shares | Jun. 12, 2020shares | May 27, 2020USD ($)shares | May 08, 2020USD ($)$ / sharesshares | Apr. 21, 2020USD ($)$ / sharesshares | Apr. 04, 2020shares | Mar. 18, 2020$ / sharesshares | Oct. 29, 2019$ / shares | Oct. 28, 2019 | Oct. 24, 2019USD ($)shares | Oct. 01, 2019USD ($)$ / sharesshares | Mar. 26, 2019USD ($)$ / sharesshares | Feb. 27, 2019USD ($)$ / sharesshares | Jun. 30, 2020USD ($)$ / sharesshares | May 31, 2020shares | Mar. 18, 2020USD ($)$ / sharesshares | Apr. 30, 2019shares | Mar. 31, 2020shares | Sep. 30, 2019USD ($)shares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)$ / sharesshares | Sep. 23, 2020$ / sharesshares | Jan. 31, 2020USD ($) | Oct. 08, 2019$ / shares | Oct. 04, 2019$ / sharesshares | Jul. 15, 2019USD ($) | Mar. 29, 2019$ / sharesshares | Mar. 22, 2019shares | Mar. 01, 2019$ / sharesshares | Dec. 28, 2017$ / sharesshares | Jan. 29, 2017shares |
Common Stock, Shares Authorized (in shares) | 100,000,000 | 100,000,000 | 100,000,000 | 50,000,000 | 24,000,000 | |||||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 5,057,919 | $ 5,323,018 | ||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ | 4,676,755 | 5,146,226 | ||||||||||||||||||||||||||||||
Fixed Assets Acquired for Notes Receivable and Common Stock | $ | 2,962,767 | |||||||||||||||||||||||||||||||
Fair Value Adjustment of Warrants | $ | $ (1,765,907) | $ (221,756) | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number (in shares) | 977,420 | 669,050 | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 5.29 | $ 11.93 | ||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term (Year) | 8 years 277 days | 8 years 138 days | ||||||||||||||||||||||||||||||
Class of Warrant or Right Number of Warrants Vested and Exercisable (in shares) | 7,353,376 | 2,171,610 | ||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ | $ 780,269 | $ 2,250,422 | ||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ | $ 6,390 | |||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||||||||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month) | 1 year 180 days | |||||||||||||||||||||||||||||||
Reverse Stock Split [Member] | ||||||||||||||||||||||||||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 0.1 | 10 | ||||||||||||||||||||||||||||||
Other Capitalized Property Plant and Equipment [Member] | ||||||||||||||||||||||||||||||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | $ | $ 1,492,500 | |||||||||||||||||||||||||||||||
Asset Purchase Agreement with InventaBiotech and Its Subsidiaries, Soluble and BioDeth [Member] | ||||||||||||||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 125,000 | |||||||||||||||||||||||||||||||
Fixed Assets Acquired for Notes Receivable and Common Stock | $ | $ 1,290,000 | |||||||||||||||||||||||||||||||
Asset Purchase Shares Issued Shares Escrow Deposit To Be Released Upon Six Months Anniversary Of Closing (in shares) | 25,000 | |||||||||||||||||||||||||||||||
Asset Purchase Shares Issued, Shares Escrow Deposit To Be Released Upon Nine Months Anniversary Of Closing (in shares) | 25,000 | |||||||||||||||||||||||||||||||
Business Acquisition, Right to Reclaim, Number of Shares (in shares) | 10,000 | |||||||||||||||||||||||||||||||
Asset Purchase Agreement With Quantitative Medicine [Member] | ||||||||||||||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 954,719 | |||||||||||||||||||||||||||||||
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable | $ | $ 1,470,267 | |||||||||||||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares Held in Escrow (in shares) | 477,359 | |||||||||||||||||||||||||||||||
Conversion of Promissory Note Into Common Stock [Member] | ||||||||||||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1.43 | |||||||||||||||||||||||||||||||
DrSchwartz Notes [Member] | ||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ | $ 2,115,000 | $ 2,115,000 | $ 2,115,000 | $ 1,920,000 | ||||||||||||||||||||||||||||
DrSchwartz Notes [Member] | Conversion of Promissory Note Into Common Stock [Member] | ||||||||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 1,583,481 | |||||||||||||||||||||||||||||||
Conversion from Series D Preferred Stock to Common Stock [Member] | ||||||||||||||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 3,500,000 | |||||||||||||||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 350,004 | |||||||||||||||||||||||||||||||
Conversion from Series E Preferred Stock to Common Stock [Member] | ||||||||||||||||||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 207.7 | 50 | ||||||||||||||||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 1,257,416 | 141,191 | ||||||||||||||||||||||||||||||
Conversion of Stock, Shares Issued, Percentage of Outstanding Shares | 11.80% | 0.05686% | ||||||||||||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 207.7 | |||||||||||||||||||||||||||||||
Series D Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Preferred Stock, Shares Issued, Total (in shares) | 3,500,000 | |||||||||||||||||||||||||||||||
Convertible Preferred Stock, Conversion Rate | 10 | |||||||||||||||||||||||||||||||
Series E Convertible Preferred Stock [Member] | ||||||||||||||||||||||||||||||||
Convertible Preferred Stock, Conversion Rate | 0.00056857 | |||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, Convertible Preferred Shares Issued (in shares) | 258 | |||||||||||||||||||||||||||||||
Preferred Stock, Beneficial Conversion Feature | $ | $ 289,935 | |||||||||||||||||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 258 | ||||||||||||||||||||||||||||||
Maximum [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 22.50 | |||||||||||||||||||||||||||||||
Maximum [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||||||||||||||||||||||||||||
Carnegie Mellon University [Member] | Asset Purchase Agreement With Quantitative Medicine [Member] | ||||||||||||||||||||||||||||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 207,144 | |||||||||||||||||||||||||||||||
The 2019 Offering Warrants [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 73,938 | 69,250 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 0.05 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 10 | $ 10 | ||||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | 5 years | ||||||||||||||||||||||||||||||
The 2019 Offering Warrants [Member] | Dawson James Securities, Inc. and Paulson Investment Company, LLC [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 73,937 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 6.25 | $ 1 | $ 11.25 | |||||||||||||||||||||||||||||
The 2019 Offering Warrants [Member] | Dawson James Securities, Inc. and Paulson Investment Company, LLC [Member] | Maximum [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 63,355 | |||||||||||||||||||||||||||||||
Right to Purchase Units [Member] | Dawson James Securities, Inc. and Paulson Investment Company, LLC [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 6,925 | |||||||||||||||||||||||||||||||
Warrants issued with Private Placement [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,396,826 | 1,390,166 | 1,390,166 | |||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.45 | $ 0.001 | $ 0.001 | |||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years 182 days | |||||||||||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 1.575 | |||||||||||||||||||||||||||||||
Price of Warrant (in dollars per share) | $ / shares | $ 2.12 | |||||||||||||||||||||||||||||||
Series A Warrants [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,650,166 | 1,650,166 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.88 | $ 1.88 | ||||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years 182 days | 5 years 182 days | ||||||||||||||||||||||||||||||
Series B Warrants [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,650,166 | 1,650,166 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.88 | $ 1.88 | ||||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 2 years | 2 years | ||||||||||||||||||||||||||||||
Prefunded Warrant [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,390,166 | 1,390,166 | ||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.0001 | $ 0.0001 | ||||||||||||||||||||||||||||||
Price of Warrant (in dollars per share) | $ / shares | $ 2.12 | |||||||||||||||||||||||||||||||
June 2020 Warrant [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,396,826 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.80 | $ 0.8457 | ||||||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years 182 days | |||||||||||||||||||||||||||||||
Class Of Warrant Or Right, Purchase Price Per Warrant (in dollars per share) | $ / shares | $ 0.125 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Percentage of Shares Issued Pursuant to Exercise of Existing Warrant | 100.00% | |||||||||||||||||||||||||||||||
Proceeds from Issuance and Exercise of Warrants | $ | $ 2,130,701 | |||||||||||||||||||||||||||||||
Proceeds from Issuance and Exercise of Warrants, Net | $ | $ 1,865,800 | |||||||||||||||||||||||||||||||
Warrant Issued in Connection With May 2020 Offering [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 1.45 | |||||||||||||||||||||||||||||||
Class of Warrant or Right Issued During Period (in shares) | 1,396,826 | |||||||||||||||||||||||||||||||
Warrants Issued in Connection With Helomics Acquisition [Member] | ||||||||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 1,424,506 | |||||||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.845 | $ 10 | ||||||||||||||||||||||||||||||
Fair Value Adjustment of Warrants | $ | $ 554,287 | |||||||||||||||||||||||||||||||
The 2019 Offering [Member] | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 633,554 | 147,875 | 138,500 | |||||||||||||||||||||||||||||
Share Per Each Unit (in shares) | 0.1 | |||||||||||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 5 | $ 8 | $ 9 | |||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 1,183,101 | $ 1,246,608 | ||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ | $ 2,811,309 | $ 1,053,460 | $ 1,111,888 | |||||||||||||||||||||||||||||
Unit Agreement Number of Shares of Common Stock Included in Each Unit (in shares) | 0.1 | |||||||||||||||||||||||||||||||
Unit Agreement Number of Warrants Included in Each Unit (in shares) | 0.05 | |||||||||||||||||||||||||||||||
Proceeds from Issuance of Common Stock | $ | $ 3,167,769 | |||||||||||||||||||||||||||||||
Equity Line Purchase Agreement [Member] | ||||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 104,651 | 4,231,073 | 122,356 | |||||||||||||||||||||||||||||
Issuance or Sale of Equity, Can Be Raised | $ | $ 15,000,000 | |||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 450,000 | $ 4,891,348 | $ 319,196 | |||||||||||||||||||||||||||||
Sale of Stock, Remaining Available Balance | $ | $ 9,789,419 | |||||||||||||||||||||||||||||||
Private Placement [Member] | ||||||||||||||||||||||||||||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | |||||||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,396,826 | 260,000 | ||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 3,498,612 | |||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ | $ 3,127,818 | |||||||||||||||||||||||||||||||
Stock Issued During Period, Value, New Issues | $ | $ 5,273,018 | |||||||||||||||||||||||||||||||
Sale of Stock, Price Per Share (in dollars per share) | $ / shares | $ 2.121 | $ 2.121 | ||||||||||||||||||||||||||||||
Registered Direct Offering [Member] | ||||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ | $ 2,200,001 | |||||||||||||||||||||||||||||||
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs | $ | $ 1,930,100 |
Note 5 - Stockholders' Equity_4
Note 5 - Stockholders' Equity, Stock Options and Warrants - Summary of Transactions for Stock Options and Warrants (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Number of Shares Outstanding (in shares) | 1,013,547 | |
Warrant [Member] | ||
Number of Shares Outstanding (in shares) | 2,171,610 | 362,664 |
Average Exercise Price Outstanding (in dollars per share) | $ 15.26 | $ 41.67 |
Number of Shares Issued (in shares) | 8,097,468 | 1,869,299 |
Average Exercise Price Issued (in dollars per share) | $ 1.547 | $ 9.25 |
Number of Shares Forfeited (in shares) | (127,710) | (653) |
Average Exercise Price Forfeited (in dollars per share) | $ 95.11 | $ 3,249.28 |
Number of Shares Exercised (in shares) | (2,786,992) | (59,700) |
Average Exercise Price Exercised (in dollars per share) | $ 0.79 | $ 0.10 |
Number of Shares Outstanding (in shares) | 7,353,376 | 2,171,610 |
Average Exercise Price Outstanding (in dollars per share) | $ 3.76 | $ 15.26 |
Share-based Payment Arrangement, Option [Member] | ||
Number of Shares Outstanding (in shares) | 766,424 | 366,928 |
Average Exercise Price Outstanding (in dollars per share) | $ 11.34 | $ 17.03 |
Number of Shares Issued (in shares) | 319,851 | 423,295 |
Average Exercise Price Issued (in dollars per share) | $ 1.03 | $ 6.53 |
Number of Shares Forfeited (in shares) | (72,728) | (23,799) |
Average Exercise Price Forfeited (in dollars per share) | $ 10.58 | $ 13.30 |
Number of Shares Exercised (in shares) | ||
Average Exercise Price Exercised (in dollars per share) | ||
Average Exercise Price Exercised (in dollars per share) | ||
Number of Shares Outstanding (in shares) | 1,013,547 | 766,424 |
Average Exercise Price Outstanding (in dollars per share) | $ 5.41 | $ 11.34 |
Note 5 - Stockholders' Equity_5
Note 5 - Stockholders' Equity, Stock Options and Warrants - Summary of Status of Options and Warrants Outstanding (Details) | 12 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Shares, options (in shares) | shares | 1,013,547 |
Shares, warrants (in shares) | shares | 7,353,376 |
Minimum [Member] | |
Price, warrants (in dollars per share) | $ 0.846 |
Maximum [Member] | |
Price, warrants (in dollars per share) | 22.50 |
Warrant One [Member] | |
Price, warrants (in dollars per share) | $ 0.84 |
Shares, warrants (in shares) | shares | 3,300,332 |
Weighted average remaining life, warrants (Year) | 2 years 350 days |
Warrant Two [Member] | |
Shares, warrants (in shares) | shares | 2,019,284 |
Weighted average remaining life, warrants (Year) | 4 years 281 days |
Warrant Two [Member] | Minimum [Member] | |
Price, warrants (in dollars per share) | $ 1.80 |
Warrant Two [Member] | Maximum [Member] | |
Price, warrants (in dollars per share) | $ 2.99 |
Warrant Three [Member] | |
Shares, warrants (in shares) | shares | 1,809,679 |
Weighted average remaining life, warrants (Year) | 3 years 80 days |
Warrant Three [Member] | Minimum [Member] | |
Price, warrants (in dollars per share) | $ 5 |
Warrant Three [Member] | Maximum [Member] | |
Price, warrants (in dollars per share) | $ 10 |
Warrant Four [Member] | |
Shares, warrants (in shares) | shares | 224,081 |
Weighted average remaining life, warrants (Year) | 2 years 62 days |
Warrant Four [Member] | Minimum [Member] | |
Price, warrants (in dollars per share) | $ 10.71 |
Warrant Four [Member] | Maximum [Member] | |
Price, warrants (in dollars per share) | 22.50 |
Stock Options One [Member] | |
Options, lower limit (in dollars per share) | 0.732 |
Options, upper limit (in dollars per share) | $ 1.47 |
Shares, options (in shares) | shares | 258,256 |
Weighted average remaining life, options (Year) | 9 years 299 days |
Stock Options Two [Member] | |
Options, lower limit (in dollars per share) | $ 1.54 |
Options, upper limit (in dollars per share) | $ 1.64 |
Shares, options (in shares) | shares | 350,574 |
Weighted average remaining life, options (Year) | 7 years 302 days |
Stock Options Three [Member] | |
Options, lower limit (in dollars per share) | $ 2.61 |
Options, upper limit (in dollars per share) | $ 8.41 |
Shares, options (in shares) | shares | 233,919 |
Weighted average remaining life, options (Year) | 9 years 313 days |
Stock Options Four [Member] | |
Options, lower limit (in dollars per share) | $ 10.10 |
Options, upper limit (in dollars per share) | $ 5,962.50 |
Shares, options (in shares) | shares | 170,798 |
Weighted average remaining life, options (Year) | 7 years 98 days |
Note 5 - Stockholders' Equity_6
Note 5 - Stockholders' Equity, Stock Options and Warrants - Schedule of Listing of Stock Options and Warrants (Details) | Dec. 31, 2020$ / sharesshares |
Shares, options (in shares) | shares | 1,013,547 |
Shares, warrants (in shares) | shares | 7,353,376 |
Warrants 2016 [Member] | |
Shares, warrants (in shares) | shares | 25,373 |
Price, warrants (in dollars per share) | $ 10 |
Warrants 2017 [Member] | |
Shares, warrants (in shares) | shares | 108,295 |
Warrants 2018 [Member] | |
Shares, warrants (in shares) | shares | 196,946 |
Warrants 2019 [Member] | |
Price, warrants (in dollars per share) | $ 1,712,286 |
Warrants 2020 [Member] | |
Shares, warrants (in shares) | shares | 5,310,476 |
Minimum [Member] | |
Price, options (in dollars per share) | $ 0.732 |
Price, warrants (in dollars per share) | 0.846 |
Minimum [Member] | Warrants 2016 [Member] | |
Price, warrants (in dollars per share) | |
Minimum [Member] | Warrants 2017 [Member] | |
Price, warrants (in dollars per share) | 10.71 |
Minimum [Member] | Warrants 2018 [Member] | |
Price, warrants (in dollars per share) | 10 |
Minimum [Member] | Warrants 2019 [Member] | |
Price, warrants (in dollars per share) | 2.50 |
Minimum [Member] | Warrants 2020 [Member] | |
Price, warrants (in dollars per share) | 0.846 |
Maximum [Member] | |
Price, options (in dollars per share) | 5,962.50 |
Price, warrants (in dollars per share) | 22.50 |
Maximum [Member] | Warrants 2016 [Member] | |
Price, warrants (in dollars per share) | |
Maximum [Member] | Warrants 2017 [Member] | |
Price, warrants (in dollars per share) | 22.50 |
Maximum [Member] | Warrants 2018 [Member] | |
Price, warrants (in dollars per share) | 13.125 |
Maximum [Member] | Warrants 2019 [Member] | |
Price, warrants (in dollars per share) | 11.88 |
Maximum [Member] | Warrants 2020 [Member] | |
Price, warrants (in dollars per share) | $ 2.992 |
Stock Options 2012 [Member] | |
Shares, options (in shares) | shares | 143 |
Stock Options 2012 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.54 |
Stock Options 2012 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 1,500 |
Stock Options 2013 [Member] | |
Shares, options (in shares) | shares | 148 |
Stock Options 2013 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.54 |
Stock Options 2013 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 5,962.50 |
Stock Options 2014 [Member] | |
Shares, options (in shares) | shares | 84 |
Stock Options 2014 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.54 |
Stock Options 2014 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 4,312.50 |
Stock Options 2015 [Member] | |
Shares, options (in shares) | shares | 397 |
Stock Options 2015 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.54 |
Stock Options 2015 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 862.50 |
Stock Options 2016 [Member] | |
Shares, options (in shares) | shares | 9,395 |
Stock Options 2016 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.54 |
Stock Options 2016 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 51.25 |
Stock Options 2017 [Member] | |
Shares, options (in shares) | shares | 222,079 |
Stock Options 2017 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.54 |
Stock Options 2017 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 21 |
Stock Options 2018 [Member] | |
Shares, options (in shares) | shares | 85,955 |
Stock Options 2018 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.54 |
Stock Options 2018 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 13.50 |
Stock Options 2019 [Member] | |
Shares, options (in shares) | shares | 383,311 |
Stock Options 2019 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 1.54 |
Stock Options 2019 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 7.90 |
Stock Options 2020 [Member] | |
Shares, options (in shares) | shares | 312,035 |
Stock Options 2020 [Member] | Minimum [Member] | |
Price, options (in dollars per share) | $ 0.732 |
Stock Options 2020 [Member] | Maximum [Member] | |
Price, options (in dollars per share) | $ 3.48 |
Note 6 - Notes Receivable (Deta
Note 6 - Notes Receivable (Details Textual) - USD ($) | May 27, 2020 | Dec. 31, 2019 |
Other Capitalized Property Plant and Equipment [Member] | ||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Property, Plant, and Equipment, Total | $ 1,492,500 | |
Asset Purchase Agreement with InventaBiotech and Its Subsidiaries, Soluble and BioDeth [Member] | ||
Stock Issued During Period, Shares, Purchase of Assets (in shares) | 125,000 | |
Other Nonoperating Income | $ 1,290,000 | |
CytoBioscience [Member] | Promissory Notes Receivable [Member] | ||
Financing Receivable, after Allowance for Credit Loss, Total | $ 1,112,524 | |
Notes Receivable, Interest Rate, Stated Percentage | 8.00% | |
Financing Receivable, Allowance for Credit Loss, Ending Balance | $ 1,037,524 | |
Helomics Holding Corp. [Member] | ||
Financing Receivable, after Allowance for Credit Loss, Total | 2,140,013 | |
Payments to Acquire Notes Receivable | 975,000 | |
Interest Receivable | 70,369 | |
Reduction to Loan due to Cumulative Equity Method Investment Losses Incurred | $ 1,190,967 |
Note 7 - Notes Payable (Details
Note 7 - Notes Payable (Details Textual) - USD ($) | Mar. 01, 2021 | Feb. 24, 2021 | Apr. 21, 2020 | Apr. 20, 2020 | Apr. 05, 2020 | Mar. 19, 2020 | Mar. 05, 2020 | Feb. 05, 2020 | Sep. 28, 2018 | Feb. 23, 2021 | Jan. 31, 2020 | Oct. 31, 2019 | Sep. 30, 2019 | Feb. 27, 2019 | Nov. 30, 2018 | Mar. 10, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Mar. 31, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Jul. 15, 2019 | Dec. 31, 2018 |
Debt Instrument, Face Amount | $ 4,676,755 | $ 4,676,755 | $ 5,146,226 | ||||||||||||||||||||
Payments for Penalties | 247,327 | 202,294 | |||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 244,830 | 244,830 | 350,426 | ||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | (1,996,681) | (513,250) | |||||||||||||||||||||
Repayments of Debt | 1,472,389 | 1,154,513 | |||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 267,328 | $ 378,873 | |||||||||||||||||||||
Chief Executive Officer [Member] | |||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 50,000 | ||||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 22,536,864 | ||||||||||||||||||||||
Investor of Promissory Note [Member] | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 46,875 | ||||||||||||||||||||||
Dr. Schwartz [Member] | |||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.43 | ||||||||||||||||||||||
Stock Issued, Agreement, Not to be Transferred or Sold For Three Months (in shares) | 766,740 | ||||||||||||||||||||||
Stock Issued, Agreement, Not to be Transferred or Sold for Six Months (in shares) | 766,741 | ||||||||||||||||||||||
Dr. Schwartz [Member] | Subsequent Event [Member] | |||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 100,401 | ||||||||||||||||||||||
Interest Expense, Debt, Total | $ 143,574 | ||||||||||||||||||||||
Conversion of Bridge Loan to Common Stock [Member] | |||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 170,000 | 47,556 | |||||||||||||||||||||
Promissory Note Exchange Agreement [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||
Debt Conversion, Converted Instrument, Amount | $ 2,115,000 | ||||||||||||||||||||||
Conversion of Promissory Note Into Common Stock [Member] | |||||||||||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.43 | ||||||||||||||||||||||
Bridge Loan Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 107,178 | ||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 11.55 | ||||||||||||||||||||||
Warrant for Promissory Notes [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 68,237 | ||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 6.21 | ||||||||||||||||||||||
Warrants Issued With Promissory Note, One [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 94,631 | ||||||||||||||||||||||
Warrants Issued With Promissory Note, Two [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 92,700 | ||||||||||||||||||||||
Warrants Issued With Promissory Note, Three [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 92,700 | ||||||||||||||||||||||
Warrants Issued With Promissory Note [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.992 | ||||||||||||||||||||||
Dr. Schwartz Notes Warrants [Member] | |||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 22,129 | ||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 8.36 | ||||||||||||||||||||||
Convertible Promissory Note [Member] | |||||||||||||||||||||||
Debt Instrument, Face Amount | 1,721,776 | $ 1,721,776 | $ 1,989,104 | ||||||||||||||||||||
Promissory Note [Member] | Chief Executive Officer [Member] | |||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||
Second Promissory Note [Member] | |||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,450,000 | ||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||||||||||
Payments for Penalties | 0 | ||||||||||||||||||||||
Penalties Accrued | 314,011 | 314,011 | |||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 0 | 0 | |||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 503,354 | ||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 1,075,911 | ||||||||||||||||||||||
Proceeds from Short-term Debt, Total | $ 400,000 | $ 400,000 | $ 400,000 | ||||||||||||||||||||
Short-term Debt, Total | $ 1,464,146 | 1,464,146 | |||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 2.589 | ||||||||||||||||||||||
Dr. Schwartz Note, One [Member] | |||||||||||||||||||||||
Debt Instrument, Face Amount | $ 370,000 | ||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 63,028 | ||||||||||||||||||||||
Proceeds from Related Party Debt | $ 370,000 | ||||||||||||||||||||||
DrSchwartz Notes [Member] | |||||||||||||||||||||||
Debt Instrument, Face Amount | $ 2,115,000 | $ 2,115,000 | 2,115,000 | $ 1,920,000 | |||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | ||||||||||||||||||||||
Short-term Debt, Total | 2,192,878 | ||||||||||||||||||||||
Interest Payable | $ 77,878 | ||||||||||||||||||||||
DrSchwartz Notes [Member] | Conversion of Promissory Note Into Common Stock [Member] | |||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 1,583,481 | ||||||||||||||||||||||
Borrowings Against Equity Line [Member] | |||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,098,684 | $ 1,098,684 | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 8.00% | |||||||||||||||||||||
Payments for Penalties | $ 247,327 | ||||||||||||||||||||||
Proceeds from Short-term Debt, Total | 1,020,000 | ||||||||||||||||||||||
Short-term Debt, Total | $ 0 | 0 | |||||||||||||||||||||
Repayments of Short-term Debt, Total | 1,459,973 | ||||||||||||||||||||||
Bridge Notes [Member] | Convertible Promissory Note [Member] | |||||||||||||||||||||||
Debt Instrument, Face Amount | $ 2,297,727 | ||||||||||||||||||||||
Proceeds from Notes Payable, Total | $ 2,000,000 | ||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 65,000 | 16,667 | |||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | $ 344,659 | ||||||||||||||||||||||
Payments for Penalties | 0 | ||||||||||||||||||||||
Penalties Accrued | 525,926 | 525,926 | |||||||||||||||||||||
Bridge Loan | 1,721,776 | 1,721,776 | |||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 0 | 0 | |||||||||||||||||||||
Debt Conversion, Original Debt, Amount | 267,328 | 140,000 | |||||||||||||||||||||
Securities Purchase Agreements [Member] | Promissory Note [Member] | |||||||||||||||||||||||
Debt Instrument, Face Amount | $ 300,000 | $ 847,500 | |||||||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 8,857 | ||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||||||||||
Payments for Penalties | 0 | ||||||||||||||||||||||
Penalties Accrued | 320,542 | 320,542 | |||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 244,830 | 244,830 | |||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 525,000 | ||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 1,136,448 | ||||||||||||||||||||||
Proceeds from Short-term Debt, Total | $ 700,000 | ||||||||||||||||||||||
Stock Issued During Period, Shares, Extension of Notes Payable (in shares) | 30,000 | ||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (345,000) | $ (300,000) | |||||||||||||||||||||
Short-term Debt, Total | $ 1,490,833 | 1,490,833 | |||||||||||||||||||||
Securities Purchase Agreements [Member] | Promissory Note [Member] | Maturity Extension to March 31, 2021 [Member] | |||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | (690,000) | ||||||||||||||||||||||
Securities Purchase Agreements [Member] | Second Promissory Note [Member] | |||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | (172,500) | ||||||||||||||||||||||
Securities Purchase Agreements [Member] | Second Promissory Note [Member] | Maturity Extension to March 31, 2021 [Member] | |||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ (345,000) | ||||||||||||||||||||||
Debt Issued in September 2018, September, 2019, and February 2020 [Member] | Subsequent Event [Member] | |||||||||||||||||||||||
Repayments of Debt | $ 5,906,802 | ||||||||||||||||||||||
Notes Assumed from Acquisiton [Member] | |||||||||||||||||||||||
Repayments of Long-term Debt, Total | $ 303,333 | ||||||||||||||||||||||
Payment for Debt Extinguishment or Debt Prepayment Cost | $ 18,216 | ||||||||||||||||||||||
Paycheck Protection Program CARES Act [Member] | |||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 541,867 | ||||||||||||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 541,867 |
Note 7 - Notes Payable - Notes
Note 7 - Notes Payable - Notes Payable (Details) - USD ($) | Dec. 31, 2020 | Apr. 21, 2020 | Jan. 31, 2020 | Dec. 31, 2019 | Jul. 15, 2019 |
Notes Payable, Gross | $ 4,676,755 | $ 5,146,226 | |||
Debt Instrument, Unamortized Discount, Total | 244,830 | 350,426 | |||
Notes Payable | 4,431,925 | 4,795,800 | |||
Convertible Promissory Note [Member] | |||||
Notes Payable, Gross | 1,721,776 | 1,989,104 | |||
Promissory Note, One [Member] | |||||
Notes Payable, Gross | 1,490,833 | 680,833 | |||
Borrowings Against Equity Line, One [Member] | |||||
Notes Payable, Gross | 18,563 | ||||
Borrowings Against Equity Line, Two [Member] | |||||
Notes Payable, Gross | 147,783 | ||||
Borrowings Against Equity Line, Three [Member] | |||||
Notes Payable, Gross | 194,943 | ||||
DrSchwartz Notes [Member] | |||||
Notes Payable, Gross | $ 2,115,000 | $ 2,115,000 | 2,115,000 | $ 1,920,000 | |
Promissory Note, Two [Member] | |||||
Notes Payable, Gross | $ 1,464,146 |
Note 8 - Derivatives (Details T
Note 8 - Derivatives (Details Textual) | Sep. 28, 2018 | Mar. 31, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Jun. 30, 2020USD ($) | May 08, 2020USD ($) | Mar. 18, 2020USD ($) | Feb. 05, 2020USD ($) | Sep. 30, 2019USD ($) | May 21, 2019shares | Dec. 31, 2018USD ($) |
Embedded Derivative, Gain (Loss) on Embedded Derivative, Net, Total | $ 50,989 | $ 221,757 | |||||||||
Derivative Liability, Total | 0 | ||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 294,382 | 50,989 | $ 272,745 | ||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | 1,765,907 | 221,756 | |||||||||
Chief Executive Officer [Member] | Warrants Issued for 2019 Agreement [Member] | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 5,753 | ||||||||||
Bridge Loan Warrants [Member] | |||||||||||
Derivative Liability, Total | 50,989 | ||||||||||
Dr. Schwartz Notes Warrants [Member] | |||||||||||
Derivative Liability, Total | $ 0 | $ 22,644 | |||||||||
Promissory Note 2020 Conversion Feature, Tranche One [Member] | |||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 68,796 | ||||||||||
Promissory Note 2020 Conversion Feature, Tranche Two [Member] | |||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 52,125 | ||||||||||
Promissory Note 2020 Conversion Feature, Tranche Three [Member] | |||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | $ 20,542 | ||||||||||
Promissory Note 2020 Conversion Feature [Member] | |||||||||||
Derivative Liability, Total | 104,529 | ||||||||||
Derivative, Gain (Loss) on Derivative, Net, Total | 87,923 | ||||||||||
A, B and Agent Warrants [Member] | |||||||||||
Derivative Liability, Total | 33,654 | $ 2,669,995 | |||||||||
Derivative, Gain (Loss) on Derivative, Net, Total | 69,479 | ||||||||||
A, B and Agent Warrants, Prior to Reclassification [Member] | |||||||||||
Derivative, Gain (Loss) on Derivative, Net, Total | $ 700,910 | ||||||||||
Warrants and Agent Warrants In Connection With May 2020 Warrant [Member] | |||||||||||
Derivative Liability, Total | $ 1,324,184 | ||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 1,324,184 | ||||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | (460,065) | ||||||||||
Agent Warrants Issued In connection With May 2020 Offering [Member] | |||||||||||
Derivative Liability, Total | 33,819 | ||||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | 48,675 | ||||||||||
Warrants and Agent Warrants In Connection With June 2020 Warrant [Member] | |||||||||||
Derivative Liability, Total | $ 1,749,721 | ||||||||||
Embedded Derivative, Fair Value of Embedded Derivative Liability | 1,749,721 | ||||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | 834,520 | ||||||||||
Agent Warrants In Connection With June 2020 Warrant [Member] | |||||||||||
Derivative Liability, Total | 32,701 | ||||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | 79,045 | ||||||||||
Promissory Note 2019 Conversion Feature [Member] | |||||||||||
Derivative Liability, Total | $ 495,100 | ||||||||||
Promissory Note 2019 Conversion Feature Agent Warrants [Member] | |||||||||||
Derivative Liability, Total | 89,680 | ||||||||||
Gain (Loss) on Derivative Instruments, Net, Pretax, Total | $ 405,420 | ||||||||||
Bridge Notes [Member] | Convertible Promissory Note [Member] | |||||||||||
Debt Instrument, Convertible, Threshold Trading Days | 20 |
Note 8 - Derivatives - Change i
Note 8 - Derivatives - Change in Fair Value of Derivative Liabilities (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Derivative liability balance | $ 50,989 | $ 272,745 |
Derivative instrument recognized | 69,722 | |
Gain recognized to revalue derivative instrument at fair value | (1,765,906) | (221,756) |
Adjustments to derivative liability for warrants issued | (47,078) | |
Reduction of derivative liability | (22,644) | |
Derivative instrument recognized for May 2020 Warrants | 294,382 | 50,989 |
Reclassification of Warrant liabilities to Equity on exercise | (1,701,756) | |
Reclassification of Warrant liabilities to Equity | (2,669,408) | |
Derivative liability balance | 294,382 | $ 50,989 |
A, B and Agent Warrants [Member] | ||
Derivative instrument recognized | 2,669,995 | |
Promissory Note 2020 [Member] | ||
Derivative instrument recognized | 120,921 | |
Warrants and Agent Warrants In Connection With May 2020 Warrant [Member] | ||
Derivative instrument recognized for May 2020 Warrants | 1,324,184 | |
Derivative liability balance | 1,324,184 | |
Warrants and Agent Warrants In Connection With June 2020 Warrant [Member] | ||
Derivative instrument recognized | 495,100 | |
Derivative instrument recognized for May 2020 Warrants | 1,749,721 | |
Derivative liability balance | 1,749,721 | |
Promissory Note 2020 2 [Member] | ||
Derivative instrument recognized | $ 20,542 |
Note 9 - Loss Per Share - Share
Note 9 - Loss Per Share - Shares Used in Basic and Diluted Loss Per Common Share Computations (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | ||
Net loss attributable to common shareholders per common share: basic and diluted calculation | $ (26,438,684) | $ (19,680,701) | |
Weighted average common shares outstanding-basic (in shares) | 11,950,154 | 2,870,132 | |
Effect of diluted stock options, warrants and preferred stock (1) (in shares) | [1] | ||
Weighted average common shares outstanding-diluted (in shares) | 11,950,154 | 2,870,132 | |
Loss per common share-basic and diluted (in dollars per share) | $ 2.21 | $ 6.86 | |
[1] | The following is a summary of the number of underlying shares outstanding at the end of the respective periods that have been excluded from the diluted calculations because the effect on loss per common share would have been anti-dilutive: Year Ended December 31, 2020 2019 Options 1,013,547 766,424 Warrants 7,353,376 2,171,610 Convertible debt 1,107,544 82,751 Preferred stock: Series B 7,925 7,925 Preferred stock: Series D - 350,00- Preferred stock: Series E - 594,383 |
Note 9 - Loss Per Share - Antid
Note 9 - Loss Per Share - Antidilutive Securities Excluded from the Diluted Calculations (Details) - shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Share-based Payment Arrangement, Option [Member] | ||
Antidilutive Securities (in shares) | 1,013,547 | 766,424 |
Warrant [Member] | ||
Antidilutive Securities (in shares) | 7,353,376 | 2,171,610 |
Convertible Debt Securities [Member] | ||
Antidilutive Securities (in shares) | 1,107,544 | 82,751 |
Series B Convertible Preferred Stock [Member] | ||
Antidilutive Securities (in shares) | 79,246 | 79,246 |
Series D Convertible Preferred Stock [Member] | ||
Antidilutive Securities (in shares) | 350,000 | |
Series E Convertible Preferred Stock [Member] | ||
Antidilutive Securities (in shares) | 594,383 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Valuation Allowance Percentage | 100.00% | |
Unrecognized Tax Benefits, Ending Balance | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | $ 0 |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | 297,735,754 | 291,476,788 |
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration | 261,455,216 | 264,379,011 |
Deferred Tax Assets, Operating Loss Carryforwards, Not Subject to Expiration | 36,280,538 | 27,097,777 |
Operating Loss Carryforwards, Valuation Allowance, Total | 59,913,739 | 58,991,353 |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | 222,290,524 | 213,762,905 |
Operating Loss Carryforwards, Valuation Allowance, Total | 22,191,346 | 21,414,302 |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | 773,455 | |
Operating Loss Carryforwards, Valuation Allowance, Total | $ 0 | $ 236,746 |
Note 10 - Income Taxes - Reconc
Note 10 - Income Taxes - Reconciliation of Income Tax Benefit (Expense) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Statutory federal income tax benefit | $ 5,434,463 | $ 3,977,561 |
State tax benefit, net of federal taxes | 578,746 | 368,635 |
Foreign tax benefit | 62,146 | 104,050 |
Foreign operations tax rate differential | (44,120) | (73,869) |
State rate adjustment | 65,112 | (17,585) |
R&D tax credit | 51,143 | |
Nondeductible/nontaxable items | (268,968) | 1,183,535 |
Goodwill impairment | 2,762,014 | 1,701,000 |
NOL adjustments | (1,141,662) | (1,054,778) |
OID and derivatives | 141,908 | |
Helomics purchase adjustment | 66,394,188 | |
Other | (461,020) | 115,896 |
Valuation allowance increase | (1,462,683) | (69,489,684) |
Total income tax benefit | $ 0 |
Note 10 - Income Taxes - Compon
Note 10 - Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Depreciation | ||
Inventory | 7,196 | 6,891 |
Compensation accruals | 63,846 | 56,670 |
Accruals and reserves | 162,628 | |
Deferred revenue | 11,641 | 7,480 |
Charitable contribution carryover | 4,331 | 3,740 |
Derivatives | 63,145 | 10,708 |
Related party investments | 657,633 | |
Intangibles | 297,639 | 295,941 |
Right of use asset | 13,861 | |
NSQO compensation | 1,738,217 | 1,589,430 |
NOL and credits | 80,038,356 | 78,417,618 |
Total deferred tax assets | 82,400,860 | 81,046,111 |
Original issue discount | (14,021) | |
Depreciation | (295,775) | (389,689) |
Total deferred tax liabilities | (295,775) | (403,710) |
Net deferred tax assets | 82,105,085 | 80,642,401 |
Less: valuation allowance | (82,105,085) | (80,642,401) |
Total |
Note 11 - Goodwill and Intang_3
Note 11 - Goodwill and Intangibles (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Dec. 31, 2020USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Apr. 04, 2019USD ($) | Dec. 31, 2018USD ($) | |
Amortization of Intangible Assets, Total | $ 313,709 | $ 290,552 | ||||
Intangible Assets, Net (Excluding Goodwill), Total | $ 3,398,101 | 3,398,101 | 3,649,412 | |||
Impairment of Intangible Assets (Excluding Goodwill), Total | 0 | 770,250 | ||||
Goodwill, Ending Balance | 2,813,792 | 2,813,792 | 15,690,290 | |||
Goodwill, Impairment Loss | 9,879,458 | $ 2,997,000 | 12,876,498 | $ 8,100,000 | ||
Goodwill, Impaired, Accumulated Impairment Loss | $ 20,976,498 | 20,976,498 | ||||
Helomics Holding Corp. [Member] | ||||||
Goodwill, Decrease in Growth Rate of 0.5 Percent, Reduction in Fair Value | 588,000 | |||||
Goodwill, Increase in Discount Rate of 0.5 Percent, Reduction in Fair Value | $ 988,000 | |||||
Measurement Input, Expected Cash Flow Term [Member] | ||||||
Reporting Unit Measurement Input | 10 | 20 | 10 | 20 | ||
Measurement Input, Long-term Revenue Growth Rate [Member] | ||||||
Reporting Unit Measurement Input | 0.05 | 0.03 | 0.05 | 0.03 | ||
Measurement Input, Discount Rate [Member] | ||||||
Reporting Unit Measurement Input | 0.14 | 0.25 | 0.14 | 0.183 | ||
Measurement Input, Risk Premium [Member] | ||||||
Reporting Unit Measurement Input | 0.01 | 0.1 | 0.01 | 0.07 | ||
Helomics Holding Corp. [Member] | ||||||
Goodwill, Ending Balance | $ 23,790,290 | |||||
Licensing Agreements [Member] | ||||||
Amortization of Intangible Assets, Total | $ 58,500 | |||||
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 0 | $ 770,250 |
Note 11 - Goodwill and Intang_4
Note 11 - Goodwill and Intangibles - Components of Intangible Assets (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Accumulated Amortization | $ (728,320) | $ (414,611) |
Net Carrying Amount | 3,398,101 | |
Total, Gross Carrying Costs | 4,126,421 | 4,064,023 |
Intangibles, net | 3,398,101 | 3,649,412 |
Trade Names 1 [Member] | ||
Accumulated Amortization | ||
Tradename | 398,000 | |
Tradename | 398,000 | |
Patents and Trademarks [Member] | ||
Gross Carrying Costs | 401,421 | 339,023 |
Accumulated Amortization | (211,110) | (195,286) |
Net Carrying Amount | 190,311 | 143,737 |
Developed Technology Rights [Member] | ||
Gross Carrying Costs | 2,882,000 | 2,882,000 |
Accumulated Amortization | (252,175) | (108,075) |
Net Carrying Amount | 2,629,825 | 2,773,925 |
Customer Relationships [Member] | ||
Gross Carrying Costs | 445,000 | 445,000 |
Accumulated Amortization | (259,583) | |
Net Carrying Amount | 185,417 | 333,750 |
Accumulated Amortization | $ (111,250) | |
Trade Names [Member] | ||
Gross Carrying Costs | 398,000 | |
Net Carrying Amount | 392,548 | |
Accumulated Amortization | $ (5,452) |
Note 11 - Goodwill and Intang_5
Note 11 - Goodwill and Intangibles - Estimated Future Amortization Expense (Details) | Dec. 31, 2020USD ($) |
2021 | $ 331,071 |
2022 | 219,821 |
2023 | 182,738 |
2024 | 182,738 |
2025 | 182,738 |
Thereafter | 2,298,995 |
Total | $ 3,398,101 |
Note 11 - Goodwill and Intang_6
Note 11 - Goodwill and Intangibles - Goodwill (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Dec. 31, 2020 | Sep. 30, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill | $ 15,690,290 | $ 15,690,290 | ||
Acquired | 23,790,290 | |||
Impairment | $ (9,879,458) | $ (2,997,000) | (12,876,498) | (8,100,000) |
Goodwill | $ 2,813,792 | $ 2,813,792 | $ 15,690,290 |
Note 12 - Leases (Details Textu
Note 12 - Leases (Details Textual) | 12 Months Ended | |
Dec. 31, 2020USD ($)ft² | Dec. 31, 2019USD ($) | |
Operating Lease, Expense | $ | $ 565,581 | $ 431,170 |
Corporate Office, Minnesota [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 3 years | |
Area of Real Estate Property (Square Foot) | 5,773 | |
Corporate Office, Minnesota, Used for Office Space [Member] | ||
Area of Real Estate Property (Square Foot) | 2,945 | |
Corporate Office, Minnesota, Used for Manufacturing [Member] | ||
Area of Real Estate Property (Square Foot) | 2,828 | |
Helomics' Offices [Member] | ||
Lessee, Operating Lease, Term of Contract (Year) | 3 years | |
Area of Real Estate Property (Square Foot) | 17,417 | |
Helomics Offices, Lease Area for Office Space [Member] | ||
Area of Real Estate Property (Square Foot) | 1,000 | |
Helomics Offices, Lease Area for Laboratory [Member] | ||
Area of Real Estate Property (Square Foot) | 16,417 | |
Soluble Biodtech Offices in Birmingham, Alabama [Member] | ||
Area of Real Estate Property (Square Foot) | 4,314 | |
Skyline Medical Europe’s Offices Lease [Member] | ||
Area of Real Estate Property (Square Foot) | 2,000 | |
Skyline Medical Europe's Offices Lease, Storage Space [Member] | ||
Area of Real Estate Property (Square Foot) | 750 | |
Skyline Medical Europe's Offices Lease, Office Space [Member] | ||
Area of Real Estate Property (Square Foot) | 1,250 |
Note 12 - Leases - Lease Inform
Note 12 - Leases - Lease Information (Details) | Dec. 31, 2020 | Dec. 31, 2019 |
Weighted average remaining lease term – operating leases in years (Year) | 2 years 120 days | 3 years 102 days |
Weighted average discount rate – operating leases | 8.00% | 8.00% |
Note 12 - Leases - Rent Obligat
Note 12 - Leases - Rent Obligation (Details) | Dec. 31, 2020USD ($) |
2021 | $ 689,368 |
2022 | 725,759 |
2023 | 170,910 |
2024 | 71,420 |
2025 | 48,552 |
Total lease payments | 1,706,009 |
Less interest | 263,411 |
Present value of lease liabilities | $ 1,442,598 |
Note 13 - Property, Plant and_3
Note 13 - Property, Plant and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 711,139 | $ 414,331 |
Note 13 - Property, Plant and_4
Note 13 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment, Useful Life (Details) | 12 Months Ended | |
Dec. 31, 2020 | ||
Leasehold Improvements [Member] | ||
Computers, software and office equipment (Year) | 5 years | [1] |
Demonstration Equipment [Member] | ||
Computers, software and office equipment (Year) | 3 years | |
Laboratory Equipment [Member] | ||
Computers, software and office equipment (Year) | 4 years | |
Minimum [Member] | Office Equipment [Member] | ||
Computers, software and office equipment (Year) | 3 years | |
Minimum [Member] | Leasehold Improvements [Member] | ||
Computers, software and office equipment (Year) | 2 years | [2] |
Minimum [Member] | Manufacturing and Laboratory Equipment [Member] | ||
Computers, software and office equipment (Year) | 3 years | |
Minimum [Member] | Laboratory Equipment [Member] | ||
Computers, software and office equipment (Year) | 4 years | |
Maximum [Member] | Office Equipment [Member] | ||
Computers, software and office equipment (Year) | 10 years | |
Maximum [Member] | Leasehold Improvements [Member] | ||
Computers, software and office equipment (Year) | 5 years | [2] |
Maximum [Member] | Manufacturing and Laboratory Equipment [Member] | ||
Computers, software and office equipment (Year) | 7 years | |
Maximum [Member] | Laboratory Equipment [Member] | ||
Computers, software and office equipment (Year) | 6 years | |
[1] | Leasehold improvements are depreciated over the shorter of the useful life or the remaining lease term. | |
[2] | Leasehold improvements are depreciated over the shorter of the useful life or the remaining lease term. |
Note 13 - Property, Plant and_5
Note 13 - Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Property, Plant, and Equipment Gross | $ 5,154,547 | $ 2,279,373 |
Less: Accumulated depreciation | 1,331,847 | 771,574 |
Total fixed assets, net | 3,822,700 | 1,507,799 |
Office Equipment [Member] | ||
Property, Plant, and Equipment Gross | 3,638,520 | 508,143 |
Leasehold Improvements [Member] | ||
Property, Plant, and Equipment Gross | 315,297 | 188,014 |
Manufacturing Tooling [Member] | ||
Property, Plant, and Equipment Gross | 1,144,116 | 1,510,165 |
Demo Equipment [Member] | ||
Property, Plant, and Equipment Gross | $ 56,614 | $ 73,051 |
Note 14 - Segments (Details Tex
Note 14 - Segments (Details Textual) | 12 Months Ended |
Dec. 31, 2020 | |
Number of Operating Segments | 3 |
Note 14 - Segments - Segments (
Note 14 - Segments - Segments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 1,252,272 | $ 1,411,565 |
Depreciation and Amortization | (1,024,848) | (704,883) |
Impairment expense | (12,876,498) | (8,870,250) |
Loss on equity method investment | (439,637) | |
Net Loss | (25,884,397) | (19,390,766) |
Assets | 13,060,436 | 22,375,510 |
Operating Segments [Member] | Skyline [Member] | ||
Revenue | 1,185,214 | 1,363,118 |
Depreciation and Amortization | (38,310) | (48,420) |
Impairment expense | ||
Loss on equity method investment | ||
Net Loss | (1,132,251) | (3,135,290) |
Assets | 1,191,439 | 969,793 |
Operating Segments [Member] | Helomics Segment [Member] | ||
Revenue | 64,188 | 48,447 |
Depreciation and Amortization | (761,105) | (556,538) |
Impairment expense | (12,876,498) | (8,100,000) |
Loss on equity method investment | ||
Net Loss | (15,112,131) | (12,354,108) |
Assets | 9,773,902 | 21,275,306 |
Operating Segments [Member] | Soluble [Member] | ||
Revenue | 2,870 | |
Depreciation and Amortization | (184,071) | |
Impairment expense | ||
Loss on equity method investment | ||
Net Loss | (671,367) | |
Assets | 1,883,585 | |
Corporate, Non-Segment [Member] | ||
Revenue | ||
Depreciation and Amortization | (41,362) | (99,925) |
Impairment expense | (770,250) | |
Loss on equity method investment | (439,637) | |
Net Loss | (8,968,648) | (3,901,368) |
Assets | $ 211,510 | $ 130,411 |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transactions (Details Textual) - USD ($) | May 01, 2019 | Apr. 01, 2019 |
Director [Member] | ||
Related Party Transaction, Monthly Cash Payment | $ 13,500 | $ 12,000 |
Note 16 - Retirement Savings _2
Note 16 - Retirement Savings Plans (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 100.00% | 100.00% | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% | 4.00% | |
Defined Contribution Plan, Employer Contribution Amount | $ 119,555 | $ 110,714 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 |
Note 17 - Subsequent Events (De
Note 17 - Subsequent Events (Details Textual) - USD ($) | Mar. 01, 2021 | Feb. 28, 2021 | Feb. 25, 2021 | Dec. 31, 2020 | Dec. 31, 2019 |
Proceeds from Warrant Exercises | $ 1,935,855 | $ 5,970 | |||
Repayments of Debt | $ 1,472,389 | $ 1,154,513 | |||
Subsequent Event [Member] | |||||
Sale of Stock, Agent Placement Fee, Percent of Gross Proceeds | 7.50% | ||||
Sale of Stock, Management Fee, Percent of Gross Proceeds | 1.00% | ||||
Subsequent Event [Member] | Debt Issued in September 2018, September, 2019, and February 2020 [Member] | |||||
Repayments of Debt | $ 5,906,802 | ||||
Subsequent Event [Member] | Investor Warrants [Member] | |||||
Stock Issued During Period, Shares, Warrant Exercises (in shares) | 4,964,994 | ||||
Class of Warrant or Right, Exercised During Period, Exercise Price (in dollars per share) | $ 0.63 | ||||
Proceeds from Warrant Exercises | $ 4,269,617 | ||||
Subsequent Event [Member] | Placement Agent Warrants [Member] | |||||
Sale of Stock, Placement Agent, Warrants Assigned, Number of Securities Called by Warrants, Percent of Shares Sold | 7.50% | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights, Percent of Stock Price | 125.00% | ||||
Registered Direct Offerings [Member] | Subsequent Event [Member] | |||||
Number of Warrants Issued to Each Investor, Per Two Shares of Stock Purchased (in shares) | 1 | ||||
Registered Direct Offerings [Member] | Subsequent Event [Member] | Investor Warrants [Member] | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years 182 days | ||||
Registered Direct Offerings [Member] | Subsequent Event [Member] | Placement Agent Warrants [Member] | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||
Private Placement [Member] | Subsequent Event [Member] | |||||
Number of Warrants Issued to Each Investor, Per Two Shares of Stock Purchased (in shares) | 1 | ||||
Private Placement [Member] | Subsequent Event [Member] | Investor Warrants [Member] | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years 182 days | ||||
Private Placement [Member] | Subsequent Event [Member] | Placement Agent Warrants [Member] | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years 182 days |
Note 17 - Subsequent Events - S
Note 17 - Subsequent Events - Stock Offerings (Details) - Subsequent Event [Member] - USD ($) | Feb. 23, 2021 | Feb. 16, 2021 | Jan. 26, 2021 | Jan. 21, 2021 | Jan. 12, 2021 | Feb. 23, 2021 | Feb. 28, 2021 | |
Shares issued (in shares) | 22,536,864 | |||||||
Gross proceeds | $ 34,396,319 | |||||||
Net proceeds | $ 31,077,232 | $ 31,077,232 | ||||||
Investor Warrants [Member] | ||||||||
Warrants issued (in shares) | 11,265,932 | |||||||
Placement Agent Warrants [Member] | ||||||||
Warrants issued (in shares) | 1,689,890 | |||||||
January 12, 2021 Registered Direct Offering [Member] | ||||||||
Shares issued (in shares) | 3,655,840 | |||||||
Shares issued, price per share (in dollars per share) | [1] | $ 0.842 | ||||||
Gross proceeds | $ 3,074,007 | |||||||
Net proceeds | $ 2,731,767 | |||||||
January 12, 2021 Registered Direct Offering [Member] | Investor Warrants [Member] | ||||||||
Warrants issued (in shares) | 1,825,420 | |||||||
Price, warrants (in dollars per share) | $ 0.80 | |||||||
January 12, 2021 Registered Direct Offering [Member] | Placement Agent Warrants [Member] | ||||||||
Warrants issued (in shares) | 273,813 | |||||||
Price, warrants (in dollars per share) | $ 1.0525 | |||||||
January 21, 2021 Registered Direct Offering [Member] | ||||||||
Shares issued (in shares) | 2,200,000 | |||||||
Shares issued, price per share (in dollars per share) | [1] | $ 1 | ||||||
Gross proceeds | $ 2,200,000 | |||||||
Net proceeds | $ 1,932,050 | |||||||
January 21, 2021 Registered Direct Offering [Member] | Investor Warrants [Member] | ||||||||
Warrants issued (in shares) | 1,100,000 | |||||||
Price, warrants (in dollars per share) | $ 1 | |||||||
January 21, 2021 Registered Direct Offering [Member] | Placement Agent Warrants [Member] | ||||||||
Warrants issued (in shares) | 165,000 | |||||||
Price, warrants (in dollars per share) | $ 1.25 | |||||||
January 26, 2021 Registered Direct Offering [Member] | ||||||||
Shares issued (in shares) | 3,414,970 | |||||||
Shares issued, price per share (in dollars per share) | [1] | $ 1.20 | ||||||
Gross proceeds | $ 4,097,964 | |||||||
Net proceeds | $ 3,668,687 | |||||||
January 26, 2021 Registered Direct Offering [Member] | Investor Warrants [Member] | ||||||||
Warrants issued (in shares) | 1,707,485 | |||||||
Price, warrants (in dollars per share) | $ 1.20 | |||||||
January 26, 2021 Registered Direct Offering [Member] | Placement Agent Warrants [Member] | ||||||||
Warrants issued (in shares) | 256,123 | |||||||
Price, warrants (in dollars per share) | $ 1.50 | |||||||
February 16, 2021 Registered Direct Offering [Member] | ||||||||
Shares issued (in shares) | 4,222,288 | |||||||
Shares issued, price per share (in dollars per share) | [1] | $ 1.75 | ||||||
Gross proceeds | $ 7,389,004 | |||||||
Net proceeds | $ 6,679,989 | |||||||
February 16, 2021 Registered Direct Offering [Member] | Investor Warrants [Member] | ||||||||
Warrants issued (in shares) | 2,111,144 | |||||||
Price, warrants (in dollars per share) | $ 2 | |||||||
February 16, 2021 Registered Direct Offering [Member] | Placement Agent Warrants [Member] | ||||||||
Warrants issued (in shares) | 316,672 | |||||||
Price, warrants (in dollars per share) | $ 2.1875 | |||||||
Febuary 23, 2021 Private Placement [Member] | ||||||||
Shares issued (in shares) | 9,043,766 | |||||||
Shares issued, price per share (in dollars per share) | [1] | $ 1.95 | $ 1.95 | |||||
Gross proceeds | $ 17,635,344 | |||||||
Net proceeds | $ 16,064,739 | |||||||
Febuary 23, 2021 Private Placement [Member] | Investor Warrants [Member] | ||||||||
Warrants issued (in shares) | 4,521,883 | |||||||
Price, warrants (in dollars per share) | $ 2 | 2 | ||||||
Febuary 23, 2021 Private Placement [Member] | Placement Agent Warrants [Member] | ||||||||
Warrants issued (in shares) | 678,282 | |||||||
Price, warrants (in dollars per share) | $ 2.4375 | $ 2.4375 | ||||||
[1] | Sale price includes one share and a warrant to purchase one-half share. |