Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 06, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Adomani, Inc. | |
Entity Central Index Key | 1,563,568 | |
Trading Symbol | adom | |
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 Common Stock, Shares Outstanding (in shares) | 72,503,376 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
ASSETS | ||
Cash and cash equivalents | $ 7,670,000 | $ 2,446,000 |
Accounts receivable | 1,199,000 | |
Notes receivable | 1,000,000 | 1,000,000 |
Inventory, net | 225,000 | |
Other current assets | 2,796,000 | 778,000 |
Total current assets | 12,665,000 | 4,449,000 |
Property and equipment, net | 152,888 | 487,067 |
Other non-current assets | 350,000 | 386,000 |
Total assets | 13,168,000 | 5,322,000 |
Current liabilities: | ||
Accounts payable | 607,000 | 30,000 |
Accrued liabilities | 805,000 | 514,000 |
Notes payable, net | 2,149,000 | |
Line of credit | 1,800,000 | |
Total current liabilities | 3,212,000 | 2,693,000 |
Long-term liabilities | ||
Other non-current liabilities | 253,000 | 289,000 |
Total liabilities | 3,465,000 | 2,982,000 |
Commitments and contingencies | ||
Stockholders' equity: | ||
Preferred stock, 5,000,000 authorized $0.00001 par value none issued and outstanding, respectively | ||
Common stock, 350,000,000 authorized $0.00001 par value, 72,503,376 and 68,070,930 issued and outstanding, respectively | 1,000 | 1,000 |
Additional paid-in capital | 60,940,000 | 45,316,000 |
Accumulated deficit | (51,238,000) | (42,977,000) |
Total stockholders' equity | 9,703,000 | 2,340,000 |
Total liabilities and stockholders' equity | $ 13,168,000 | $ 5,322,000 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2018 | Dec. 31, 2017 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, shares authorized (in shares) | 350,000,000 | 350,000,000 |
Common stock, par value (in dollars per share) | $ 0.00001 | $ 0.00001 |
Common stock, shares issued (in shares) | 72,503,376 | 68,070,930 |
Common stock, shares outstanding (in shares) | 72,503,376 | 68,070,930 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Sales | $ 744 | $ 1,208 | ||
Cost of sales | 722 | 1,201 | ||
Gross profit | 22 | 7 | ||
Operating expenses: | ||||
General and administrative | 3,869 | 5,350 | 7,787 | 6,647 |
Consulting | 48 | 2,143 | 95 | 2,163 |
Research and development | 440 | 460 | 596 | 519 |
Total operating expenses, net | 4,357 | 7,953 | 8,478 | 9,329 |
Loss from operations | (4,335) | (7,953) | (8,471) | (9,329) |
Other income (expense): | ||||
Interest income (expense), net | 52 | (147) | 105 | (362) |
Other income | 99 | 22 | 108 | 49 |
Total other income (expense) | 151 | (125) | 213 | (313) |
Loss before income taxes | (4,184) | (8,078) | (8,258) | (9,642) |
Income tax expense | (3) | (2) | ||
Net loss | $ (4,184) | $ (8,078) | $ (8,261) | $ (9,644) |
Net loss per share to common stockholders: | ||||
Basic and diluted (in dollars per share) | $ (0.06) | $ (0.12) | $ (0.12) | $ (0.15) |
Weighted shares used in the computation of net loss per share: | ||||
Basic and diluted (in shares) | 72,009,958 | 66,815,898 | 71,692,209 | 64,978,905 |
Consolidated Statement of Stock
Consolidated Statement of Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2018 - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 68,070,930 | |||
Balance at Dec. 31, 2017 | $ 1 | $ 45,316 | $ (42,977) | $ 2,340 |
Common stock issued (in shares) | 3,666,667 | |||
Common stock issued for cash | 11,000 | 11,000 | ||
Offering costs netted against proceeds from common stock issued for cash | (1,197) | (1,197) | ||
Stock based compensation | 5,744 | $ 5,744 | ||
Common stock issued for stock options exercised (in shares) | 765,779 | 765,779 | ||
Common stock issued for stock options exercised | 77 | $ 77 | ||
Net loss | (8,261) | (8,261) | ||
Balance (in shares) at Jun. 30, 2018 | 72,503,376 | |||
Balance at Jun. 30, 2018 | $ 1 | $ 60,940 | $ (51,238) | $ 9,703 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Cash flows from operating activities: | ||
Net loss | $ (8,261,000) | $ (9,644,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 16,473 | 6,086 |
Accretion of discount on note receivable | (46,000) | |
Amortization of debt discount | 130,000 | |
Stock based compensation expense | 5,744,000 | 5,044,000 |
Warrant issued for services | 1,241,000 | |
Loss on write-down of property and equipment | 385,000 | |
Gain on disposal of property and equipment | (1,000) | |
Write-down of inventory | 15,000 | |
Changes in assets and liabilities: | ||
Inventory | 210,000 | (120,000) |
Accounts receivable | (1,199,000) | |
Other current assets | (2,094,000) | (103,000) |
Other non-current assets | 36,000 | 3,000 |
Accounts payable | 577,000 | 73,000 |
Accrued liabilities | 290,000 | 9,000 |
Other non-current liabilities | (35,000) | |
Net cash used in operating activities | (4,316,000) | (3,408,000) |
Cash flows from investing activities: | ||
Purchase of property and equipment, net | (67,000) | (34,000) |
Investment in note receivable, net | (500,000) | |
Net cash used in investing activities | (67,000) | (534,000) |
Cash flows from financing activities: | ||
Proceeds from issuance of common stock | 11,000,000 | 12,550,000 |
Proceeds from issuance of debt, net of issuance costs | 500,000 | |
Principal repayments of debt | (2,149,000) | (1,510,000) |
Advances on line of credit | (1,800,000) | |
Proceeds from exercise of stock options | 77,000 | |
Payments for deferred offering costs | (1,121,000) | (1,668,000) |
Net cash provided by financing activities | 9,607,000 | 9,872,000 |
Net change in cash and cash equivalents | 5,224,000 | 5,930,000 |
Cash and cash equivalents at the beginning of the period | 2,446,000 | 938,000 |
Cash and cash equivalents at the end of the period | 7,670,000 | 6,868,000 |
Supplemental cash flow disclosures: | ||
Cash paid for interest expense | 8,000 | 207,000 |
Cash paid for income taxes | ||
Non-cash transactions: | ||
Deferred offering costs reclassified to equity | 76,000 | 838,000 |
Warrants issued as offering costs | 681,000 | |
Stock Issued for Prepaid Services Rescinded [Member] | ||
Non-cash transactions: | ||
Common stock issued | 100,000 | |
Stock Issued for Services [Member] | ||
Non-cash transactions: | ||
Common stock issued | 1,250,000 | |
Conversion of Debt [Member] | ||
Non-cash transactions: | ||
Common stock issued due to debt conversion | $ 726,000 |
Note 1 - Organization and Opera
Note 1 - Organization and Operations | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | 1. ADOMANI, Inc. (“we”, “us”, “our” or the “Company”) is a provider of zero zero |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. Basis of Presentation June 30, 2018 six June 30, 2018 2017 December 31, 2017 2016 10 December 31, 2017. six June 30, 2018 not Principles of Consolidation Use of Estimates Fair Value of Financial Instruments No. 820, three Level 1: Level 2: Level 3: no The Company does not Revenue Recognition zero May 2014, 606, On January 1, 2018, 606 not January 1, 2018. January 1, 2018 606, not 605. The adoption of ASC Topic 606 not January 1, 2018 606 no six June 30, 2018. Net Loss Per Share Concentration of Credit Risk $250,000 Recent Accounting Pronouncements June 2018, No. 2018 07, 718 718, December 15, 2018. not no 606. |
Note 3 - Property and Equipment
Note 3 - Property and Equipment, Net | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. Components of property and equipment, net, consist of the following as of June 30, 2018 December 31, 2017: June 30, December 31, Furniture and fixtures $ 41,799 $ 38,540 Leasehold improvements 11,638 11,638 Computers 53,704 53,704 Vehicles 64,099 - Test/Demo vehicles 22,548 407,612 Total property and equipment 193,788 511,494 Less accumulated depreciation (40,900 ) (24,427 ) Net property and equipment $ 152,888 $ 487,067 Depreciation expense was $16,473 $6,086 six June 30, 2018 2017, $8,236 $3,255 three June 30, 2018 2017. June 2018, not June 2018, $385,065 |
Note 4 - Notes Receivable
Note 4 - Notes Receivable | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 4. On June 29, 2017, $500,000 third may 9% July 31, 2017. December 31, 2017. February 2018, June 30, 2018, June 2018, September 30, 2018. $35,000 no September 30, 2018 $35,000 $25,000 February 2018 $18,750 July 6, 2018. July 6, 2018. The Company loaned an additional $500,000 third zero December 2016. $10,000 December 31, 2017. January 2018, April 30, 2018, April 2018, June 30, 2018. June 2018, September 30, 2018. $55,000 no September 30, 2018 $55,000 $50,000 April 2018 |
Note 5 - Debt
Note 5 - Debt | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 5. On January 10, 2018, 6 $2,149,000 9% 2015. Details of notes payable as of June 30, 2018 December 31, 2017 As of June 30, As of December 31, 2018 2017 Notes Payable Principal amount outstanding - 2,149,000 Cumulative discount for finance charges incurred - (514,753 ) Cumulative discount for warrant - (349,042 ) Cumulative discount for 9% notes - (50,000 ) Cumulative amortization of finance charges - 514,753 Cumulative amortization of warrant expense - 349,042 Cumulative amortization of 9% notes - 50,000 Subtotal of notes payable - 2,149,000 Total of debt $ - $ 2,149,000 Effective May 2, 2018, 30 2.0%. no may $7.5 June 30, 2018, may not 95% $7 June 30, 2018, $1.8 $5.2 |
Note 6 - Common Stock
Note 6 - Common Stock | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 6. On January 9, 2018, one 1.5 $4.50. 3,666,667 $11.0 $1.2 $9.8 256,667 256,667 $598,737. five $3.75 92.20% 2.13%. three March 31, 2018. During May June 2018, 765,779 $76,578 8 |
Note 7 - Stock Warrants
Note 7 - Stock Warrants | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Warrants [Text Block] | 7. As of June 30, 2018, 7,556,323 six June 30, 2018 Number of Weighted Weighted Outstanding at December 31, 2017 1,799,659 $ 4.42 3.37 Granted 5,756,664 $ 4.47 Forfeited Outstanding at June 30, 2018 7,556,323 $ 4.45 4.27 Exercisable at June 30, 2018 7,299,656 $ 4.48 4.25 As of June 30, 2018, no |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 8. On March 6, 2018, June 30, 2018 June 30, 2018, 14,297,902 In March 2018, no 297,694 2012 “2012 February 28, 2018. $423,308 May June 2018, 765,779 $76,578. June 2018, 499,123 one 207,968 July 31, 2018. July 2018, August 31, 2018. In April 2018, 655,000 2017 three one third one $1.31 $229,643. 5.75 62% 2.78%. In June 2018, 3,450,000 $10.49 March 2017 2012 none April May 2018 10 June 2018, 10 th No Stock option activity for the six June 30, 2018 Weighted Weighted Average Average Number of Exercise Remaining Shares Price Contractual Life (years) Outstanding at December 31, 2017 30,375,000 $ 1.33 4.0 Granted 655,000 1.31 Exercised (765,779 ) Canceled/Forfeited (5,098,915 ) Outstanding at June 30, 2018 25,165,306 $ 0.15 3.2 Exercisable at June 30, 2018 8,787,853 $ 0.10 3.4 Stock-based compensation expense was approximately $5.7 $5.0 six June 30, 2018 2017, June 30, 2018, $1.28 1.3 As of June 30, 2018, $24.2 14,297,902 |
Note 9 - Commitments
Note 9 - Commitments | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 9. Employment Agreements June 1, 2016. two $120,000. $7,000 $3,000 March 6, 2018, Operating Leases 2016, February 28, 2018 10 March 2018. $4,730 March 1, 2018 December 31, 2018. In April 2017, $500. April 2018. In February 2017, 30 $1,000. In October 2017, 65 February 28, 2023. $568,912. $7,600 $10,560 five no Other Agreements 2015, THINKP3 zero December 1, 2015 November 30, 2016. November 21, 2016, November 30, 2017. November 7, 2017, November 30, 2018. $8,000 30 The following table summarizes the Company’s future minimum payments under contractual commitments, excluding debt, as of June 30, 2018: Payments due by period Total Less than 1 - 3 years 4 - 5 years More than Operating lease obligations 547,050 105,462 235,572 206,016 - Employment contracts 980,000 440,000 440,000 100,000 - Total 1,527,050 545,462 675,572 306,016 - |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2018 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation June 30, 2018 six June 30, 2018 2017 December 31, 2017 2016 10 December 31, 2017. six June 30, 2018 not |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments No. 820, three Level 1: Level 2: Level 3: no The Company does not |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition zero May 2014, 606, On January 1, 2018, 606 not January 1, 2018. January 1, 2018 606, not 605. The adoption of ASC Topic 606 not January 1, 2018 606 no six June 30, 2018. |
Earnings Per Share, Policy [Policy Text Block] | Net Loss Per Share |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk $250,000 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements June 2018, No. 2018 07, 718 718, December 15, 2018. not no 606. |
Note 3 - Property and Equipme17
Note 3 - Property and Equipment, Net (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, December 31, Furniture and fixtures $ 41,799 $ 38,540 Leasehold improvements 11,638 11,638 Computers 53,704 53,704 Vehicles 64,099 - Test/Demo vehicles 22,548 407,612 Total property and equipment 193,788 511,494 Less accumulated depreciation (40,900 ) (24,427 ) Net property and equipment $ 152,888 $ 487,067 |
Note 5 - Debt (Tables)
Note 5 - Debt (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Long-term Debt Instruments [Table Text Block] | As of June 30, As of December 31, 2018 2017 Notes Payable Principal amount outstanding - 2,149,000 Cumulative discount for finance charges incurred - (514,753 ) Cumulative discount for warrant - (349,042 ) Cumulative discount for 9% notes - (50,000 ) Cumulative amortization of finance charges - 514,753 Cumulative amortization of warrant expense - 349,042 Cumulative amortization of 9% notes - 50,000 Subtotal of notes payable - 2,149,000 Total of debt $ - $ 2,149,000 |
Note 7 - Stock Warrants (Tables
Note 7 - Stock Warrants (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Warrant [Member] | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Weighted Weighted Outstanding at December 31, 2017 1,799,659 $ 4.42 3.37 Granted 5,756,664 $ 4.47 Forfeited Outstanding at June 30, 2018 7,556,323 $ 4.45 4.27 Exercisable at June 30, 2018 7,299,656 $ 4.48 4.25 |
Note 8 - Stock-based Compensa20
Note 8 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Weighted Weighted Average Average Number of Exercise Remaining Shares Price Contractual Life (years) Outstanding at December 31, 2017 30,375,000 $ 1.33 4.0 Granted 655,000 1.31 Exercised (765,779 ) Canceled/Forfeited (5,098,915 ) Outstanding at June 30, 2018 25,165,306 $ 0.15 3.2 Exercisable at June 30, 2018 8,787,853 $ 0.10 3.4 |
Note 9 - Commitments (Tables)
Note 9 - Commitments (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block] | Payments due by period Total Less than 1 - 3 years 4 - 5 years More than Operating lease obligations 547,050 105,462 235,572 206,016 - Employment contracts 980,000 440,000 440,000 100,000 - Total 1,527,050 545,462 675,572 306,016 - |
Note 2 - Summary of Significa22
Note 2 - Summary of Significant Accounting Policies (Details Textual) - Fair Value, Measurements, Recurring [Member] $ in Thousands | Jun. 30, 2018USD ($) |
Assets, Fair Value Disclosure | $ 0 |
Financial and Nonfinancial Liabilities, Fair Value Disclosure | $ 0 |
Note 3 - Property and Equipme23
Note 3 - Property and Equipment, Net (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Depreciation, Total | $ 8,236 | $ 3,255 | $ 16,473 | $ 6,086 | |
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ (385,000) | ||||
Test/Demo Vehicles [Member] | |||||
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ (385,065) |
Note 3 - Property and Equipme24
Note 3 - Property and Equipment, Net - Components of Property and Equipment, Net (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Property and equipment, gross | $ 193,788 | $ 511,494 |
Less accumulated depreciation | (40,900) | (24,427) |
Property and equipment, net | 152,888 | 487,067 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 41,799 | 38,540 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 11,638 | 11,638 |
Computer Equipment [Member] | ||
Property and equipment, gross | 53,704 | 53,704 |
Vehicles [Member] | ||
Property and equipment, gross | 64,099 | |
Test/Demo Vehicles [Member] | ||
Property and equipment, gross | $ 22,548 | $ 407,612 |
Note 4 - Notes Receivable (Deta
Note 4 - Notes Receivable (Details Textual) - USD ($) | Jul. 06, 2018 | Jun. 29, 2017 | Jun. 30, 2018 | Apr. 30, 2018 | Feb. 28, 2018 | Dec. 31, 2016 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 |
Payments to Acquire Notes Receivable | $ 500,000 | ||||||||
Note Receivable Issued in June 2017 [Member] | |||||||||
Payments to Acquire Notes Receivable | $ 500,000 | ||||||||
Notes Receivable, Stated Interest Rate | 9.00% | ||||||||
Notes Receivable, Extension Fee | $ 35,000 | $ 25,000 | |||||||
Note Receivable Issued in June 2017 [Member] | Subsequent Event [Member] | |||||||||
Proceeds from Interest on Notes Receivable | $ 18,750 | ||||||||
Note Receivable Issued in December 2016 [Member] | |||||||||
Payments to Acquire Notes Receivable | $ 500,000 | ||||||||
Notes Receivable, Extension Fee | $ 55,000 | $ 50,000 | |||||||
Notes Receivable, Periodic Payment, Interest | $ 10,000 |
Note 5 - Debt (Details Textual)
Note 5 - Debt (Details Textual) - USD ($) | May 02, 2018 | Jan. 10, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | Dec. 31, 2015 |
Repayments of Long-term Debt, Total | $ 2,149,000 | $ 1,510,000 | ||||
Morgan Stanley [Member] | ||||||
Long-term Line of Credit, Total | 1,800,000 | |||||
Line of Credit Facility, Remaining Borrowing Capacity | $ 5,200,000 | |||||
Morgan Stanley [Member] | Line of Credit [Member] | ||||||
Debt Instrument, Collateral Amount | $ 7,500,000 | |||||
Debt Instrument, Maximum Borrowing Capacity Threshold, Percent of Assets | 95.00% | |||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,000,000 | |||||
Morgan Stanley [Member] | Line of Credit [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.00% | |||||
Secured Debt [Member] | ||||||
Repayments of Long-term Debt, Total | $ 2,149,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 9.00% | 9.00% |
Note 5 - Debt - Long-term Debt
Note 5 - Debt - Long-term Debt (Details) - USD ($) | Jun. 30, 2018 | Dec. 31, 2017 |
Total of debt | $ 2,149,000 | |
Convertible Debt [Member] | ||
Principal amount outstanding | 2,149,000 | |
Secured Debt [Member] | ||
Cumulative discount for finance charges incurred | (514,753) | |
Cumulative discount for warrant | (349,042) | |
Cumulative discount for 9% notes | (50,000) | |
Cumulative amortization of finance charges | 514,753 | |
Cumulative amortization of warrant expense | 349,042 | |
Cumulative amortization of 9% notes | 50,000 | |
Total of debt | $ 2,149,000 |
Note 5 - Debt - Long-term Deb28
Note 5 - Debt - Long-term Debt (Details) (Parentheticals) | Jun. 30, 2018 | Dec. 31, 2017 | Dec. 31, 2015 |
Secured Debt [Member] | |||
Interest rate | 9.00% | 9.00% |
Note 6 - Common Stock (Details
Note 6 - Common Stock (Details Textual) | Jan. 09, 2018USD ($)$ / sharesshares | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2018USD ($)$ / sharesshares | Jun. 30, 2017USD ($) | Dec. 31, 2017$ / shares |
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 4.45 | $ 4.45 | $ 4.42 | ||
Stock Issued During Period, Value, New Issues | $ 11,000,000 | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 7,556,323 | 7,556,323 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | 765,779 | ||||
Proceeds from Stock Options Exercised | $ 77,000 | ||||
Certain Non-Employees [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | shares | 765,779 | ||||
Proceeds from Stock Options Exercised | $ 76,578 | ||||
Follow-on Offering [Member] | |||||
Stock Issued During Period, Shares, New Issues | shares | 3,666,667 | ||||
Stock Issued During Period, Value, New Issues | $ 11,000,000 | ||||
Stock Issuance Costs Incurred | 1,200,000 | ||||
Proceeds from Issuance or Sale of Equity, Net of Issuance Costs | $ 9,800,000 | ||||
Warrants Issued to Purchasers of Common Stock [Member] | Follow-on Offering [Member] | |||||
Class of Warrant or Right, Issued During Period per Common Share Issued | shares | 1.5 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 4.50 | ||||
Warrants Issued to Underwriters [Member] | Follow-on Offering [Member] | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 256,667 | ||||
Warrants and Rights Outstanding | $ 598,737 | ||||
Warrants Issued to Underwriters [Member] | Follow-on Offering [Member] | Measurement Input, Expected Term [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 5 | ||||
Warrants Issued to Underwriters [Member] | Follow-on Offering [Member] | Measurement Input, Exercise Price [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 3.75 | ||||
Warrants Issued to Underwriters [Member] | Follow-on Offering [Member] | Measurement Input, Price Volatility [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 0.922 | ||||
Warrants Issued to Underwriters [Member] | Follow-on Offering [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||
Warrants and Rights Outstanding, Measurement Input | 0.0213 |
Note 7 - Stock Warrants (Detail
Note 7 - Stock Warrants (Details Textual) $ in Thousands | Jun. 30, 2018USD ($)shares |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 7,556,323 |
Class of Warrant or Right, Intrinsic Value | $ | $ 0 |
Note 7 - Stock Warrants - Warra
Note 7 - Stock Warrants - Warrant Activity (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Outstanding at December 31, 2017 (in shares) | 1,799,659 | |
Outstanding at December 31, 2017, weighted average exercise price (in dollars per share) | $ 4.42 | |
Outstanding, weighted average remaining contractual life (Year) | 4 years 98 days | 3 years 135 days |
Granted (in shares) | 5,756,664 | |
Granted, weighted average exercise price (in dollars per share) | $ 4.47 | |
Forfeited (in shares) | ||
Forfeited, weighted average exercise price (in dollars per share) | ||
Outstanding at June 30, 2018 (in shares) | 7,556,323 | 1,799,659 |
Outstanding at March 31, 2018, weighted average exercise price (in dollars per share) | $ 4.45 | $ 4.42 |
Exercisable (in shares) | 7,299,656 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 4.48 | |
Exercisable, weighted average remaining contractual life (Year) | 4 years 91 days |
Note 8 - Stock-based Compensa32
Note 8 - Stock-based Compensation (Details Textual) - USD ($) | 1 Months Ended | 2 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Apr. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 25,165,306 | 25,165,306 | 25,165,306 | 30,375,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 5,098,915 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 765,779 | ||||||
Proceeds from Stock Options Exercised | $ 77,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 655,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.31 | ||||||
Allocated Share-based Compensation Expense, Total | $ 5,700,000 | $ 5,000,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 24,200,000 | $ 24,200,000 | 24,200,000 | ||||
Employee Stock Option [Member] | |||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 1,280,000 | $ 1,280,000 | $ 1,280,000 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 109 days | ||||||
Equity Incentive Plan 2017 [Member] | Employee Stock Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years 273 days | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 62.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate | 2.78% | ||||||
Mr. Monfort [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 14,297,902 | 14,297,902 | 14,297,902 | ||||
Certain Non-Employees [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 499,123 | 297,694 | |||||
Stock Issued During Period, Value, Share-based Compensation, Forfeited | $ 423,308 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period | 765,779 | ||||||
Proceeds from Stock Options Exercised | $ 76,578 | ||||||
One Non-employee [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Extended in Period | 207,968 | ||||||
Certain Employees and Directors [Member] | Equity Incentive Plan 2017 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | 655,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price | $ 1.31 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Market Value | $ 229,643 | ||||||
Certain Employees and Directors [Member] | Equity Incentive Plan 2017 [Member] | Employee Stock Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||||||
Certain Employees and Directors [Member] | Plan 2012 [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | 3,450,000 | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price | $ 10.49 |
Note 8 - Stock-based Compensa33
Note 8 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Outstanding at December 31, 2017 (in shares) | 30,375,000 | |
Outstanding at December 31, 2017, weighted average exercise price (in dollars per share) | $ 1.33 | |
Outstanding, weighted average remaining life (Year) | 3 years 73 days | 4 years |
Granted (in shares) | 655,000 | |
Granted, weighted average exercise price (in dollars per share) | $ 1.31 | |
Exercised (in shares) | (765,779) | |
Exercised, weighted average exercise price (in dollars per share) | ||
Canceled/Forfeited (in shares) | (5,098,915) | |
Canceled/Forfeited, weighted average exercise price (in dollars per share) | ||
Outstanding at June 30, 2018 (in shares) | 25,165,306 | 30,375,000 |
Outstanding at March 31, 2018, weighted average exercise price (in dollars per share) | $ 0.15 | $ 1.33 |
Exercisable (in shares) | 8,787,853 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 0.10 | |
Exercisable, weighted average remaining life (Year) | 3 years 146 days |
Note 9 - Commitments (Details T
Note 9 - Commitments (Details Textual) - USD ($) | Nov. 07, 2017 | Jun. 01, 2016 | Feb. 28, 2023 | Jun. 30, 2018 | Feb. 28, 2018 | Oct. 31, 2017 | Apr. 30, 2017 | Feb. 28, 2017 |
Operating Leases, Future Minimum Payments Due, Total | $ 547,050 | |||||||
THINKP3 [Member] | ||||||||
Other Commitments, Service Fees Per Month | $ 8,000 | |||||||
Other Commitments, Termination Notice | 30 days | |||||||
Office Space in Los Altos, California [Member] | ||||||||
Lessee, Operating Lease, Term of Contract | 300 days | |||||||
Operating Lease, Rent Expense, Annual Amount | $ 4,730 | |||||||
Storage Space in Phoenix, Arizona [Member] | ||||||||
Operating Lease, Monthly Payment | $ 500 | |||||||
Storage Space in Stockton, California [Member] | ||||||||
Operating Lease, Monthly Payment | $ 1,000 | |||||||
Corporate Office in Corona, California [Member] | ||||||||
Lessee, Operating Lease, Term of Contract | 5 years 150 days | |||||||
Operating Lease, Monthly Payment | $ 7,600 | |||||||
Operating Leases, Future Minimum Payments Due, Total | $ 568,912 | |||||||
Corporate Office in Corona, California [Member] | Scenario, Forecast [Member] | ||||||||
Operating Lease, Monthly Payment | $ 10,560 | |||||||
Chief Technology Officer [Member] | ||||||||
Employment Agreement, Term of Employment | 2 years | |||||||
Salary and Wage, Officer, Excluding Cost of Good and Service Sold | $ 120,000 | |||||||
Chief Technology Officer [Member] | Commitments to ELO, LLC [Member] | ||||||||
Commitments to Research and Developement, Monthly Expense | 7,000 | |||||||
Consultant Selected By CTO [Member] | ||||||||
Commitments to Services, Monthly Expense | $ 3,000 |
Note 9 - Commitments - Future M
Note 9 - Commitments - Future Minimum Payments Under Contractual Commitments (Details) | Jun. 30, 2018USD ($) |
Operating lease obligations | $ 547,050 |
Operating lease obligations, less than one year | 105,462 |
Operating lease obligations, 1 - 3 years | 235,572 |
Operating lease obligations, 3 - 5 years | 206,016 |
Operating lease obligations, more than 5 years | |
Employment contracts | 980,000 |
Employment contracts, less than one year | 440,000 |
Employment contracts, 1 - 3 years | 440,000 |
Employment contracts, 3 - 5 years | 100,000 |
Employment contracts, more than 5 years | |
Total | 1,527,050 |
Total, less than one year | 545,462 |
Total, 1 - 3 years | 675,572 |
Total, 3 - 5 years | 306,016 |
Total, more than 5 years |