Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Aug. 10, 2018 | Jun. 30, 2017 | |
Document Information [Line Items] | |||
Entity Registrant Name | Zero Gravity Solutions, Inc. | ||
Entity Central Index Key | 1,574,186 | ||
Trading Symbol | zgsi | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Smaller Reporting Company | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Common Stock, Shares Outstanding (in shares) | 40,954,112 | ||
Entity Public Float | $ 17,565,231 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
CURRENT ASSETS | ||
Cash | $ 13,862 | $ 232,394 |
Accounts receivable | 1,393 | 121,747 |
Prepaid expenses | 216,139 | 254,269 |
Other current assets | 28,140 | |
Inventory | 68,643 | 33,401 |
Total current assets | 300,037 | 669,951 |
Property and equipment - net | 104,590 | 119,057 |
OTHER ASSETS | ||
Deposit | 4,617 | 3,617 |
Intellectual property | 11,458 | 5,500 |
Advance on future royalties - related parties | 319,441 | 277,038 |
Total other assets | 335,516 | 286,155 |
TOTAL ASSETS | 740,143 | 1,075,163 |
CURRENT LIABILITIES | ||
Accounts payable and other payables | 696,195 | 480,853 |
Accounts payable, related party | 112,347 | 75,000 |
Deferred compensation, related party | 12,500 | 12,500 |
Note payable - related party | 500,000 | 500,000 |
Note payable | 204,419 | 195,355 |
Total liabilities (all current) | 1,525,461 | 1,263,708 |
LONG TERM LIABILITIES | ||
Note payable, net of discount of $18,218 and $0 | 181,782 | |
Notes payable, related parties, net of discount of $97,796 and $0 | 1,002,204 | |
Total long-term liabilities | 1,183,986 | |
Commitments (Note 4) | ||
STOCKHOLDERS' DEFICIT | ||
Common stock; 100,000,000 shares authorized, at $0.001 par value, 40,650,397 and 38,973,264 shares issued and outstanding, respectively | 40,650 | 38,973 |
Additional paid-in capital | 21,970,266 | 16,126,129 |
Accumulated deficit | (23,980,220) | (16,353,647) |
Total stockholders' deficit | (1,969,304) | (188,545) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 740,143 | $ 1,075,163 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Notes payable, related parties, discount | $ 97,796 | $ 0 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares issued (in shares) | 40,650,397 | 38,973,264 |
Common stock, shares outstanding (in shares) | 40,650,397 | 38,973,264 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
REVENUE | ||
Revenues | $ 65,733 | $ 218,166 |
COST OF REVENUE | ||
Cost of goods sold | 10,276 | 40,882 |
Royalty expense | 2,102 | 10,685 |
Total cost of revenue | 12,378 | 51,567 |
GROSS PROFIT | 53,355 | 166,599 |
OPERATING EXPENSES | ||
General and administrative | 7,402,271 | 6,495,350 |
Research and development | 179,351 | 464,570 |
Total operating expenses | 7,581,622 | 6,959,920 |
LOSS FROM OPERATIONS | (7,528,267) | (6,793,321) |
OTHER INCOME (EXPENSE) | ||
Other income (expense) | (387) | 2,576 |
Interest expense | (82,451) | (49,068) |
Accretion of debt discount | (15,468) | (122,631) |
Total other income (expense) | (98,306) | (169,123) |
NET LOSS | $ (7,626,573) | $ (6,962,444) |
NET LOSS PER SHARE - BASIC AND DILUTED (in dollars per share) | $ (0.19) | $ (0.18) |
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING - BASIC AND DILUTED (in shares) | 40,110,298 | 38,573,651 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) | Warrants Issued for Services [Member]Common Stock [Member] | Warrants Issued for Services [Member]Additional Paid-in Capital [Member] | Warrants Issued for Services [Member]Retained Earnings [Member] | Warrants Issued for Services [Member] | Warrants Issued for Loan Costs [Member]Common Stock [Member] | Warrants Issued for Loan Costs [Member]Additional Paid-in Capital [Member] | Warrants Issued for Loan Costs [Member]Retained Earnings [Member] | Warrants Issued for Loan Costs [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2015 | 37,357,597 | |||||||||||
Balance at Dec. 31, 2015 | $ 37,358 | $ 12,129,502 | $ (9,391,203) | $ 2,775,657 | ||||||||
Common stock and warrants issued for cash, net (in shares) | 1,595,667 | |||||||||||
Common stock and warrants issued for cash, net | $ 1,595 | 2,176,206 | $ 2,177,801 | |||||||||
Common stock issued for services (in shares) | 20,000 | 20,000 | ||||||||||
Common stock issued for services | $ 20 | 24,980 | $ 25,000 | |||||||||
Warrants issued | $ 11,899 | $ 11,899 | ||||||||||
Stock options issued for services | 1,783,542 | 1,783,542 | ||||||||||
Net loss | (6,962,444) | (6,962,444) | ||||||||||
Balance (in shares) at Dec. 31, 2016 | 38,973,264 | |||||||||||
Balance at Dec. 31, 2016 | $ 38,973 | 16,126,129 | (16,353,647) | (188,545) | ||||||||
Common stock and warrants issued for cash, net (in shares) | 787,133 | |||||||||||
Common stock and warrants issued for cash, net | $ 787 | 2,191,140 | $ 2,191,927 | |||||||||
Common stock issued for services (in shares) | 100,000 | 100,000 | ||||||||||
Common stock issued for services | $ 100 | 299,900 | $ 300,000 | |||||||||
Warrants issued | $ 1,019,855 | $ 1,019,855 | $ 131,482 | $ 131,482 | ||||||||
Stock options issued for services | 124,415 | 124,415 | ||||||||||
Net loss | (7,626,573) | (7,626,573) | ||||||||||
Exercise of warrants, net (in shares) | 790,000 | |||||||||||
Exercise of warrants, net | $ 790 | 1,150,460 | 1,151,250 | |||||||||
Costs of exercise of warrants | 926,885 | 926,885 | ||||||||||
Balance (in shares) at Dec. 31, 2017 | 40,650,397 | |||||||||||
Balance at Dec. 31, 2017 | $ 40,650 | $ 21,970,266 | $ (23,980,220) | $ (1,969,304) |
Consolidated Statements of Sto6
Consolidated Statements of Stockholders' Deficit (Parentheticals) - Additional Paid-in Capital [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Common stock, issued for cash, offering costs | $ 169,472 | $ 204,700 |
Exercise of warrants, offering costs | $ 33,750 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net loss | $ (7,626,573) | $ (6,962,444) |
Adjustments to reconcile net loss to net cash used by operating activities: | ||
Depreciation expense | 24,890 | 18,095 |
Amortization expense | 1,018 | |
Common stock issued for services | 300,000 | 25,000 |
Warrants issued for services | 1,019,855 | 11,899 |
Stock options issued for services | 124,415 | 1,783,542 |
Amortization of debt issuance costs | 15,468 | 122,631 |
Cost of exercise of warrants | 926,885 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 120,354 | (76,871) |
Other current assets | 66,270 | (83,992) |
Prepaid expenses | 97,330 | |
Advance on future royalties - related parties | (42,403) | (83,756) |
Inventory | (35,242) | (11,467) |
Deposit | (1,000) | 2,917 |
Accounts payable and other payables | 215,342 | 413,908 |
Accounts payable, related party | 37,347 | (15,000) |
Net cash used in operating activities | (4,853,374) | (4,758,208) |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Cash paid to acquire intellectual property | (6,976) | (5,500) |
Cash paid to purchase equipment | (10,423) | (85,416) |
Net cash used in investing activities | (17,399) | (90,916) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Proceeds from notes payable | 404,419 | 195,355 |
Payments of notes payable | (195,355) | (142,756) |
Proceeds from exercise of warrants - related party | 1,185,000 | |
Payment of offering costs – related party | (33,750) | |
Proceeds from notes payable - related party | 1,100,000 | |
Proceeds from sale of common stock | 2,361,399 | 2,382,501 |
Payment of offering costs | (169,472) | (204,700) |
Net cash provided by financing activities | 4,652,241 | 2,230,400 |
NET DECREASE IN CASH | (218,532) | (2,618,724) |
CASH AT BEGINNING OF PERIOD | 232,394 | 2,851,118 |
CASH AT END OF PERIOD | 13,862 | 232,394 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
Interest | 82,451 | 3,420 |
SUPPLEMENTAL DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES: | ||
Warrants issued with debt – related party | 131,482 | 227,258 |
Warrants issued as direct offering costs | $ 178,217 | $ 110,794 |
Note 1 - Organization and Summa
Note 1 - Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | NOTE 1 Nature of operations Zero Gravity Solutions, Inc. (the “Company”) is a biotechnology company focused on commercializing technology derived from and designed for spaceflight with significant applications on Earth. These technologies are focused on improving world agriculture by providing valuable solutions to challenges facing humanity including threats to world agriculture and the ability to feed the world’s rapidly growing population. The Company owns proprietary technology for its initial commercial product, BAM-FX™ that can boost the nutritional value and enhance the immune system of food crops without the use of Genetic Modification. The Company’s focus is the commercialization of BAM-FX™ in both domestic and international markets. The Company’s headquarters are located in Boca Raton Florida. The Company operates through two 2014. Going Concern and Management’s Plans The Company has a working capital deficiency as of December 31, 2017, December 31, 2017, $14,000, 1,225,000 7,528,000 4,853,000 twelve December 31, 2017 December 31, 2017, no not may December 31, 2017, $5,311,000 8 not Management’s strategic plans include the following: ● Continuing to advance commercialization of the Company’s principal product, BAM-FX™ in both domestic and international markets; ● Pursuing additional capital raising opportunities; ● Continuing to explore and execute prospective partnering or distribution opportunities; and ● Identifying unique market opportunities that represent potential positive cash flow. Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant estimates include the valuation of equity based compensation. Actual results could differ from those estimates. Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three no December 31, 2017 2016. Segment Reporting The Company views its operations and manages its business as one 100% not Principles of Consolidation The accompanying consolidated financial statements include the accounts of Zero Gravity Solutions, Inc. and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Inventory Inventory is valued on a lower of first first December 31, 2017 2016 Raw materials $ 23,562 $ 9,081 Consignment - 19,238 Finished product 45,081 5,082 Total Inventory $ 68,643 $ 33,401 Property and Equipment Property and equipment is stated at cost, less accumulated depreciation. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed on a straight-line basis over estimated useful lives. Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not no December 31, 2017 2016. Concentration of Credit Risk In January 2016, Fair Value of Financial Instruments The Company accounts for financial instruments under Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic (ASC) 820, Fair Value Measurements 820 three Level 1 Level 2 1, not Level 3 Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may As the Company's common stock is not 820. 2 The carrying amounts of the Company’s accounts receivable and accounts payable approximate fair value due to the relatively short period to maturity for these instruments. The carrying value of the Company’s notes payable approximates fair value due to their short period to maturity and their stated interest rates, combined with historic interest rate levels. Revenue recognition and accounts receivable: We recognize revenues from the sale of agricultural biotechnology products to distributors pursuant to the provisions of ASC 605, Revenues for agricultural chemical products are recognized when title to the products is transferred. We recognize revenue on products we sell to distributors when, according to the terms of the distribution agreements, delivery has occurred, performance is complete, no Amounts billed to customers for shipping and handling fees are included in net sales, and costs incurred by the company for the delivery of goods are classified as cost of goods sold in our Statements of Operations. The Company determined that no 2017 2016. At December 31, 2017, three 100% three 46.5%, 34.9% 18.6% December 31, 2017, one 22.8% At December 31, 2016, five 99.4% five 40.3%, 24.1%, 13.0%, 11.7%, 10.3%, December 31, 2016, three 65% 28%, 23.7%, 13.3%, The Company extends credit to customers generally without requiring collateral. The Company monitors its exposure for credit losses and maintains allowances for anticipated losses. The Company records an allowance for doubtful accounts when it is probable that the accounts receivable balance will not December 31, 2017 2016 $32,663 $83,697, Warrants The Company recognizes the cost of warrants issued with debt as debt issuance costs in the financial statements and is measured based on the grant date fair value of the award. The Company estimates the fair value of each warrant at the grant date by using the Black-Scholes option pricing model. Stock based compensation The Company recognizes the cost of employee services received in exchange for an award of equity instruments in the financial statements and is measured based on the grant date fair value of the award. Stock based compensation expense is recognized over the period during which an employee is required to provide service in exchange for the award (generally the vesting period). The Company estimates the fair value of each stock award at the grant date by using the Black-Scholes option pricing model. Costs equal to these fair values are recognized ratably over the requisite service period based on the number of awards that are expected to vest, or in the period of grant for awards that vest immediately and have no 2017 2016. The Company also grants share-based compensation awards to non-employees for service provided to the Company. The Company measures and recognizes the fair value of such transactions based on the fair value of consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. Loss per Share Loss per share is calculated by dividing the Company’s net loss by the weighted average number of common shares outstanding during the period. Diluted earnings loss per share is calculated by dividing the Company’s net income (loss) by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. The effect of the inclusion of the dilutive shares would have resulted in a decrease in loss per share. Accordingly, the weighted average shares outstanding have not not 10,713,175, 9,764,733 December 31, 2017 2016, Research and Development Research and development costs are charged to expenses as incurred. Warranty Expense The Company's distribution agreements provide for a warranty on products sold. As sales under such distribution agreements have been nominal through 2017 2016, no 2017 2016. Income Taxes The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not The Company does not December 31, 2017 2016. December 31, 2017, not December 31, 2017 2016. Recently Issued Accounting Pronouncements In May 2014, 606, not Dec. 15, 2017. 606 no 2018 January 1, 2018, In July 2015, No. 2015 11, Simplifying the Measurement of Inventory 2015 11 first December 15, 2016. not In November 2015, No. 2015 17, Balance Sheet Classification of Deferred Taxes No. 2015 17 December 15, 2016, first 2017. not In March 2016, No. 2016 02, Leases No. 2016 02 No. 2016 02 not 12 not December 15, 2018. not not In March 2016, 2016 09, Compensation - Stock Compensation (Topic 718 2016 09, 2016 09 2016 09, 2016 09 first 2017. 2016 09, first 2017, no In May 2017, 2017 09 Compensation - Stock Compensation (Topic 718 2017 09 December 15, 2017. not not In June 2018, No. 2018 07, 718 No 2018 07 718 718 December 15, 2018, no 606. January 1, 2019. |
Note 2 - Property and Equipment
Note 2 - Property and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 2 December 31, 2017 December 31, 2016 Computer equipment $ 15,332 $ 15,332 Equipment and furniture 133,940 123,517 Leasehold improvements 7,593 7,593 156,865 146,442 Accumulated Depreciation (52,275 ) (27,385 ) Property and Equipment - Net $ 104,590 $ 119,057 Depreciation expense for the years ended December 31, 2017 2016 $24,890 $18,095, |
Note 3 - Related Party Transact
Note 3 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 3 Note s Payable In July 2015, $500,000 8.5% July 2016. 350,000 $3 $416,618 0%, 184.2%, 1.66% 5 $227,258 December 31, 2016, $122,631. July 2016, July 2017, $1.25 400,000 not 2016, $43,882 $10,625 December 31, 2016. 2017, July 2018. 2017, $42,736 $10,861 December 31, 2017. In August 2017, $100,000. 10.0%, August 2019. five 10,000 $3.00 $10,435 December 31, 2017, $1,844. In September 2017, $500,000. 10.0%, September 2019. five 50,000 $3.00 $52,166 December 31, 2017, $8,718. In October 2017, $500,000 50,000 ten 10% October 26, 2019 ( may five 50,000 $3.00 $50,229 December 31, 2017, $4,472. Royalty Agreement In 2013, 2015, 25 5% $2,500 Sales subject to the royalty agreement were $65,733 $213,367 December 31, 2017 2016, December 31, 2017, 2016, $319,441 $277,038 Consulting Agreement In March 2015, six $200,000 $200,000 2015 $75,000 December 31, 2017 2016. |
Note 4 - Commitments
Note 4 - Commitments | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | NOTE 4 Lease Commitments The Company leases its offices and building space under short term leases. These leases are renewable either monthly or annually. The Company also has a two September 1, 2016 August 31, 2018. $14,748 2017 $9,832 2018. 2016 $4,916. $79,255 $84,903 December 31, 2017 2016, Research Commitment In January 2016, $373,750, first five December 31, 2017 2016, $29,610 $344,140, |
Note 5 - Note Payable
Note 5 - Note Payable | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 5 The Company has an outstanding note payable for financing corporate insurance premiums. The original principle value was $223,707, 7.5% November 2018. eleven $19,353. December 31, 2017 $204,419. In December 2017, $200,000 December 14, 2017, December 13, 2019, $200,000, December 18, 2017 50,000 ten 10% may one 5 $3.00 $18,652 December 31, 2017, $434. |
Note 6 - Equity
Note 6 - Equity | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | NOTE 6 2017 Common Stock Private placement offerings During 2016, $10,000,000 $3.00 2016 787,133 December 31, 2017. $2,361,399, $169,472. 50,409 $3.00 $46,000 Common stock issued for services During the year ended December 31, 2017, 100,000 $3.00 $300,000, Warrants In March 2017, $1.50 350,000 $525,000. 350,000 $4.50 $402,000 0, 148.4%, 1.89%, 5 In February 2016, five 400,000 $2.00 12% March 2017, $1.50 2017, 400,000 $600,000. March 2017, 400,000 $4.50 $463,000 0, 148.4%, 1.89%, 5 In February 2017, five 40,000 $2.00 $1.50 $60,000. five 40,000 $4.50 $46,000 0, 148.4%, 2.05%, 5 The modifications to the exercise price of the warrants are considered a conversion incentive, resulting in an expense (including the expense of the new warrants) of $926,885, December 31, 2017. Warrants issued for services During the year ended December 31, 2017, five 890,000 $3.00 $1,019,855, Warrants issued with debt In December 2017, $200,000 December 14, 2017, December 13, 2019, $200,000, December 18, 2017 50,000 5 $3.00 $18,652 December 31, 2017, $434. Warrants issued with debt – related party In August 2017, $100,000. five 10,000 $3.00 $10,435 December 31, 2017, $1,844. In September 2017, $500,000. five 50,000 $3.00 $52,166 December 31, 2017, $8,718. In October 2017, $500,000 50,000 five 50,000 $3.00 $50,229 December 31, 2017, $4,472. The following is a summary of the Company’s warrant activity for the year ended December 31, 2017: Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual (in Years) Aggregate Value Outstanding - January 1, 2016 8,117,075 $ 1.44 Granted 1,547,658 2.01 Exercised - - Cancelled/Forfeited - - Outstanding and exercisable - December 31, 2016 9,664,733 $ 1.53 3.5 $ 14,383,083 Outstanding - January 1, 2017 9,664,733 $ 1.53 Granted 1,838,442 2.01 Exercised (790,000 ) 2.00 Cancelled/Forfeited - - Outstanding and exercisable - December 31, 2017 10,713,175 $ 1.86 2.8 $ 2,606,698 The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the estimated fair value of the Company’s stock price on December 31, 2017 December 31, 2017. Stock incentive plan options During November 2015, 2015 4,000,000 440,000 2017 2,915,000 2016. $455,046 $1,842,233 2017 2016 0, 146.00 148.39%, 1.10% 1.30%, 5 December 31, 2017 2016, 30,000 160,000 December 31, 2017 2016, $124,415 $1,783,542, The Company recognizes compensation expense for stock option grants based on the fair value at the date of grant using the Black-Scholes option pricing model. As the Company does not zero $0.63 $1.25 2016. The Company has elected to account for forfeitures as they occur. Number of Options Weighted Average Exercise Price Weighted (in Years) Aggregate Value Outstanding - January 1, 2016 - $ - Granted 2,915,000 1.25 Exercised - - Cancelled/Forfeited 160,000 1.25 Outstanding - December 31, 2016 2,755,000 $ 1.25 8.7 $ 192,850 Exercisable - December 31, 2016 2,500,000 $ 1.25 8.7 $ 175,350 Outstanding - January 1, 2017 2,755,000 $ 1.25 Granted 440,000 3.00 Exercised - - Cancelled/Forfeited 30,000 1.25 Outstanding - December 31, 2017 3,165,000 $ 1.49 8.5 $ 192,850 Exercisable - December 31, 2017 2,750,000 $ 1.27 8.2 $ 192,850 The aggregate intrinsic value in the table above represents the total intrinsic value (the difference between the estimated fair value of the Company’s stock price on December 31, 2017 December 31, 2017. 2016 Common Stock Private placement offerings During the year ended December 31, 2016, October 2015 1,374,000 $1.25 one five $2.00 $1,717,500 $151,500. 152,575 $2.00 $153,000 During 2016, $10,000,000 $3.00 2016 221,667 December 31, 2016. $665,001, $53,200. 11,083 $3.00 $11,000 Common stock issued for services During the year ended December 31, 2016, 20,000 $1.25 $25,000, Warrants Warrants issued for services During the year ended December 31, 2016, five 10,000 $1.25 $11,899, |
Note 7 - Income Taxes
Note 7 - Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 7 Income taxes at the federal statutory rate are reconciled to the Company’s actual income taxes as follows: 2017 2016 Federal income tax benefit at 34% $ (2,593,000 ) $ (2,367,000 ) State income tax net of federal tax effect (381,000 ) (348,000 ) Permanent items 11,000 13,000 Other 7,000 4,000 Tax reform 2,790,000 - Valuation allowance (166,000 ) 2,698,000 $ — $ — As of December 31, 2017, $17.0 December 2037. December 31, 2017 The tax effects of temporary differences that give rise to significant portions of deferred tax assets and liabilities at December 31, 2017 2016 2017 2016 Deferred tax assets (liabilities): Net operating loss carry forwards $ 4,601,000 $ 4,306,000 Property and equipment (21,000 ) (19,000 ) Debt discount related to warrants 66,000 89,000 Patent and trademarks net of amortization 16,000 21,000 Bad Debt 42,000 - Accruals and other 43,000 33,000 Stock-based compensation 1,530,000 1,681,000 Deferred tax asset 6,277,000 6,111,000 Valuation allowance (6,277,000 ) (6,111,000 ) $ — $ — New Tax Reform Legislation In December 2017, 34% 21%. |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 12 Months Ended |
Dec. 31, 2017 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 8 On or about January 17, 2018, $500,000 January 16, 2018, October 26, 2019, $500,000 January 18, 2018 50,000 On or about January 18, 2018, $100,000 January 19, 2018, January 18, 2020, $100,000 January 19, 2018 10,000 The First Note and Second Note shall collectively be referred to as the “Notes”, and the First Warrant and Second Warrant shall collectively be referred to as the “Warrants”. The Notes and Warrants were made on substantially the same terms, except as noted. The Notes bear interest at the rate of ten 10% may one 30 6 5 $3.00 On or about March 8, 2018, $200,000 March 8, 2018 ( March 9, 2018 20,000 On or about March 12, 2018, $200,000 March 12, 2018 ( March 12, 2018 20,000 no not The Third Note and Fourth Note shall collectively be referred to as the “Notes”, and the Third Warrant and Fourth Warrant shall collectively be referred to as the “Warrants”. The Notes were made on substantially the same terms, except as noted. The Warrants were made on the same terms. The Notes bear interest at the rate of ten 10% March 7, 2020 March 11, 2020, may one The Fourth Note further provides that within 30 $3.00 $3.00 The Warrants are exercisable within 5 $3.00 On May 2, 2018, $300,001 May 2, 2018 ( May 2, 2018 30,000 On February 20, 2018, February 13, 2018 ( twenty 20% $500,000 no $500,000 pro rata The Agreement provides Agro Space with the exclusive right to import, package, sell and distribute BAM’s product lines and promote its brand, as well as other “white label” brands as they are introduced, in the Mexican markets, and a limited manufacturing right to modify the presentation of BAM’s products and dilute such products, all during the term of the Agreement. BAM will retain the right to all of its intellectual property, including any materials produced in connection with the Agreement and BAM’s products, and Agro Space will have a royalty-free right to reproduce, translate, summarize or otherwise use such materials for the sole purpose of performing pursuant to the Agreement. The exclusivity of the rights licensed to Agro Space are conditioned upon (i) meeting specified revenue targets beginning on the third tenth five 5 In addition to BAM receiving an ownership interest in Agro Space, the Company received $100,000 $3.00 $900,000, On June 29, 2018, $1M 10% second $250,000 July 2, 2018 $250,000 July 17. $550,000 seven 2,050,000 5 $1 Subsequent to December 31, 2017, 165,000 $3.00 Subsequent to December 31, 2017, 237,051 August 15, 2016 $711,154 $25,680, 7,000 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Accounting Policies [Abstract] | |
Going Concern and Management Plans [Policy Text Block] | Going Concern and Management’s Plans The Company has a working capital deficiency as of December 31, 2017, December 31, 2017, $14,000, 1,225,000 7,528,000 4,853,000 twelve December 31, 2017 December 31, 2017, no not may December 31, 2017, $5,311,000 8 not Management’s strategic plans include the following: ● Continuing to advance commercialization of the Company’s principal product, BAM-FX™ in both domestic and international markets; ● Pursuing additional capital raising opportunities; ● Continuing to explore and execute prospective partnering or distribution opportunities; and ● Identifying unique market opportunities that represent potential positive cash flow. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Significant estimates include the valuation of equity based compensation. Actual results could differ from those estimates. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For the purposes of the statement of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three no December 31, 2017 2016. |
Segment Reporting, Policy [Policy Text Block] | Segment Reporting The Company views its operations and manages its business as one 100% not |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the accounts of Zero Gravity Solutions, Inc. and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. |
Inventory, Policy [Policy Text Block] | Inventory Inventory is valued on a lower of first first December 31, 2017 2016 Raw materials $ 23,562 $ 9,081 Consignment - 19,238 Finished product 45,081 5,082 Total Inventory $ 68,643 $ 33,401 |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment is stated at cost, less accumulated depreciation. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed on a straight-line basis over estimated useful lives. Property and equipment is reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not no December 31, 2017 2016. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk In January 2016, |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The Company accounts for financial instruments under Financial Accounting Standards Board (FASB) Accounting Standards Codification Topic (ASC) 820, Fair Value Measurements 820 three Level 1 Level 2 1, not Level 3 Observable inputs are based on market data obtained from independent sources, while unobservable inputs are based on the Company’s market assumptions. Unobservable inputs require significant management judgment or estimation. In some cases, the inputs used to measure an asset or liability may As the Company's common stock is not 820. 2 The carrying amounts of the Company’s accounts receivable and accounts payable approximate fair value due to the relatively short period to maturity for these instruments. The carrying value of the Company’s notes payable approximates fair value due to their short period to maturity and their stated interest rates, combined with historic interest rate levels. |
Revenue Recognition and Accounts Receivable [Policy Text Block] | Revenue recognition and accounts receivable: We recognize revenues from the sale of agricultural biotechnology products to distributors pursuant to the provisions of ASC 605, Revenues for agricultural chemical products are recognized when title to the products is transferred. We recognize revenue on products we sell to distributors when, according to the terms of the distribution agreements, delivery has occurred, performance is complete, no Amounts billed to customers for shipping and handling fees are included in net sales, and costs incurred by the company for the delivery of goods are classified as cost of goods sold in our Statements of Operations. The Company determined that no 2017 2016. At December 31, 2017, three 100% three 46.5%, 34.9% 18.6% December 31, 2017, one 22.8% At December 31, 2016, five 99.4% five 40.3%, 24.1%, 13.0%, 11.7%, 10.3%, December 31, 2016, three 65% 28%, 23.7%, 13.3%, The Company extends credit to customers generally without requiring collateral. The Company monitors its exposure for credit losses and maintains allowances for anticipated losses. The Company records an allowance for doubtful accounts when it is probable that the accounts receivable balance will not December 31, 2017 2016 $32,663 $83,697, |
Warrants [Policy Text Block] | Warrants The Company recognizes the cost of warrants issued with debt as debt issuance costs in the financial statements and is measured based on the grant date fair value of the award. The Company estimates the fair value of each warrant at the grant date by using the Black-Scholes option pricing model. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock based compensation The Company recognizes the cost of employee services received in exchange for an award of equity instruments in the financial statements and is measured based on the grant date fair value of the award. Stock based compensation expense is recognized over the period during which an employee is required to provide service in exchange for the award (generally the vesting period). The Company estimates the fair value of each stock award at the grant date by using the Black-Scholes option pricing model. Costs equal to these fair values are recognized ratably over the requisite service period based on the number of awards that are expected to vest, or in the period of grant for awards that vest immediately and have no 2017 2016. The Company also grants share-based compensation awards to non-employees for service provided to the Company. The Company measures and recognizes the fair value of such transactions based on the fair value of consideration received or the fair value of the equity instruments issued, whichever is more reliably measurable. |
Earnings Per Share, Policy [Policy Text Block] | Loss per Share Loss per share is calculated by dividing the Company’s net loss by the weighted average number of common shares outstanding during the period. Diluted earnings loss per share is calculated by dividing the Company’s net income (loss) by the diluted weighted average number of shares outstanding during the year. The diluted weighted average number of shares outstanding is the basic weighted number of shares adjusted for any potentially dilutive debt or equity. The effect of the inclusion of the dilutive shares would have resulted in a decrease in loss per share. Accordingly, the weighted average shares outstanding have not not 10,713,175, 9,764,733 December 31, 2017 2016, |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs are charged to expenses as incurred. |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Expense The Company's distribution agreements provide for a warranty on products sold. As sales under such distribution agreements have been nominal through 2017 2016, no 2017 2016. |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company accounts for income taxes under the asset and liability method, in which deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carry forwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in operations in the period that includes the enactment date. A valuation allowance is required to the extent any deferred tax assets may not The Company does not December 31, 2017 2016. December 31, 2017, not December 31, 2017 2016. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In May 2014, 606, not Dec. 15, 2017. 606 no 2018 January 1, 2018, In July 2015, No. 2015 11, Simplifying the Measurement of Inventory 2015 11 first December 15, 2016. not In November 2015, No. 2015 17, Balance Sheet Classification of Deferred Taxes No. 2015 17 December 15, 2016, first 2017. not In March 2016, No. 2016 02, Leases No. 2016 02 No. 2016 02 not 12 not December 15, 2018. not not In March 2016, 2016 09, Compensation - Stock Compensation (Topic 718 2016 09, 2016 09 2016 09, 2016 09 first 2017. 2016 09, first 2017, no In May 2017, 2017 09 Compensation - Stock Compensation (Topic 718 2017 09 December 15, 2017. not not In June 2018, No. 2018 07, 718 No 2018 07 718 718 December 15, 2018, no 606. January 1, 2019. |
Note 1 - Organization and Sum17
Note 1 - Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | 2017 2016 Raw materials $ 23,562 $ 9,081 Consignment - 19,238 Finished product 45,081 5,082 Total Inventory $ 68,643 $ 33,401 |
Note 2 - Property and Equipme18
Note 2 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2017 December 31, 2016 Computer equipment $ 15,332 $ 15,332 Equipment and furniture 133,940 123,517 Leasehold improvements 7,593 7,593 156,865 146,442 Accumulated Depreciation (52,275 ) (27,385 ) Property and Equipment - Net $ 104,590 $ 119,057 |
Note 6 - Equity (Tables)
Note 6 - Equity (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Warrants Weighted Average Exercise Price Weighted Average Remaining Contractual (in Years) Aggregate Value Outstanding - January 1, 2016 8,117,075 $ 1.44 Granted 1,547,658 2.01 Exercised - - Cancelled/Forfeited - - Outstanding and exercisable - December 31, 2016 9,664,733 $ 1.53 3.5 $ 14,383,083 Outstanding - January 1, 2017 9,664,733 $ 1.53 Granted 1,838,442 2.01 Exercised (790,000 ) 2.00 Cancelled/Forfeited - - Outstanding and exercisable - December 31, 2017 10,713,175 $ 1.86 2.8 $ 2,606,698 |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Number of Options Weighted Average Exercise Price Weighted (in Years) Aggregate Value Outstanding - January 1, 2016 - $ - Granted 2,915,000 1.25 Exercised - - Cancelled/Forfeited 160,000 1.25 Outstanding - December 31, 2016 2,755,000 $ 1.25 8.7 $ 192,850 Exercisable - December 31, 2016 2,500,000 $ 1.25 8.7 $ 175,350 Outstanding - January 1, 2017 2,755,000 $ 1.25 Granted 440,000 3.00 Exercised - - Cancelled/Forfeited 30,000 1.25 Outstanding - December 31, 2017 3,165,000 $ 1.49 8.5 $ 192,850 Exercisable - December 31, 2017 2,750,000 $ 1.27 8.2 $ 192,850 |
Note 7 - Income Taxes (Tables)
Note 7 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2017 2016 Federal income tax benefit at 34% $ (2,593,000 ) $ (2,367,000 ) State income tax net of federal tax effect (381,000 ) (348,000 ) Permanent items 11,000 13,000 Other 7,000 4,000 Tax reform 2,790,000 - Valuation allowance (166,000 ) 2,698,000 $ — $ — |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2017 2016 Deferred tax assets (liabilities): Net operating loss carry forwards $ 4,601,000 $ 4,306,000 Property and equipment (21,000 ) (19,000 ) Debt discount related to warrants 66,000 89,000 Patent and trademarks net of amortization 16,000 21,000 Bad Debt 42,000 - Accruals and other 43,000 33,000 Stock-based compensation 1,530,000 1,681,000 Deferred tax asset 6,277,000 6,111,000 Valuation allowance (6,277,000 ) (6,111,000 ) $ — $ — |
Note 1 - Organization and Sum21
Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Number of Wholly Owned Subsidiaries | 2 | ||
Cash, Ending Balance | $ 13,862 | $ 232,394 | $ 2,851,118 |
Working Capital | (1,225,000) | ||
Operating Income (Loss), Total | (7,528,267) | (6,793,321) | |
Net Cash Provided by (Used in) Operating Activities, Total | (4,853,374) | (4,758,208) | |
Cash Equivalents, at Carrying Value, Total | 0 | 0 | |
Impairment of Long-Lived Assets Held-for-use | 0 | 0 | |
Allowance for Doubtful Accounts Receivable, Current, Ending Balance | $ 32,663 | $ 83,697 | |
Weighted Average Number Diluted Shares Outstanding Adjustment, Total | 10,713,175 | 9,764,733 | |
Product Warranty Expense | $ 0 | $ 0 | |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | 0 | 0 | |
Unrecognized Tax Benefits, Interest on Income Taxes Expense | $ 0 | $ 0 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Number of Major Customers | 3 | 5 | |
Concentration Risk, Percentage | 99.40% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Customers [Member] | |||
Concentration Risk, Percentage | 100.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer One [Member] | |||
Concentration Risk, Percentage | 46.50% | 40.30% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Two [Member] | |||
Concentration Risk, Percentage | 34.90% | 24.10% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Three [Member] | |||
Concentration Risk, Percentage | 18.60% | 13.00% | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Four [Member] | |||
Concentration Risk, Percentage | 11.70% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Customer Five [Member] | |||
Concentration Risk, Percentage | 10.30% | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||
Number of Major Customers | 1 | 3 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Three Customers [Member] | |||
Concentration Risk, Percentage | 65.00% | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Customer One [Member] | |||
Concentration Risk, Percentage | 28.00% | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Customer Two [Member] | |||
Concentration Risk, Percentage | 23.70% | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Customer Three [Member] | |||
Concentration Risk, Percentage | 13.30% | ||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | One Customer [Member] | |||
Concentration Risk, Percentage | 22.80% |
Note 1 - Organization and Sum22
Note 1 - Organization and Summary of Significant Accounting Policies - Summary of Inventory (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Raw materials | $ 23,562 | $ 9,081 |
Consignment | 19,238 | |
Finished product | 45,081 | 5,082 |
Total Inventory | $ 68,643 | $ 33,401 |
Note 2 - Property and Equipme23
Note 2 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Depreciation, Total | $ 24,890 | $ 18,095 |
Note 2 - Property and Equipme24
Note 2 - Property and Equipment - Summary of Property and Equipment (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Property and Equipment, Gross | $ 156,865 | $ 146,442 |
Accumulated Depreciation | (52,275) | (27,385) |
Property and Equipment - Net | 104,590 | 119,057 |
Computer Equipment [Member] | ||
Property and Equipment, Gross | 15,332 | 15,332 |
Equipment and Furniture [Member] | ||
Property and Equipment, Gross | 133,940 | 123,517 |
Leasehold Improvements [Member] | ||
Property and Equipment, Gross | $ 7,593 | $ 7,593 |
Note 3 - Related Party Transa25
Note 3 - Related Party Transactions (Details Textual) | 1 Months Ended | 12 Months Ended | ||||||||
Oct. 31, 2017USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | Aug. 31, 2017USD ($)$ / sharesshares | Jul. 31, 2016$ / shares | Jul. 31, 2015USD ($)$ / sharesshares | Mar. 31, 2015USD ($) | Dec. 31, 2017USD ($)$ / shares | Dec. 31, 2016USD ($)$ / shares | Dec. 31, 2015USD ($)$ / shares | Dec. 14, 2017 | |
Proceeds from Related Party Debt | $ 1,100,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.86 | $ 1.53 | $ 1.44 | |||||||
Accretion Expense | $ 15,468 | $ 122,631 | ||||||||
Accounts Payable, Related Parties, Current | 112,347 | 75,000 | ||||||||
Prepaid Royalties, Related Party, Noncurrent | 319,441 | 277,038 | ||||||||
General and Administrative Expense, Total | 7,402,271 | 6,495,350 | ||||||||
Unsecured Promissory Note [Member] | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||
Debt Instrument, Unamortized Discount, Total | 18,652 | |||||||||
Director [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 50,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||
Director [Member] | Promissory Note [Member] | ||||||||||
Proceeds from Related Party Debt | $ 500,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||
Debt Instrument, Unamortized Discount, Total | $ 52,166 | |||||||||
Accretion Expense | 8,718 | |||||||||
Director [Member] | Warrants Issued with Debt [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | |||||||||
Director [Member] | Warrants Issued with Debt [Member] | Measurement Input, Price Volatility [Member] | ||||||||||
Warrants and Rights Outstanding, Measurement Input | 184.2 | |||||||||
Director [Member] | Warrants Issued with Debt [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||||
Warrants and Rights Outstanding, Measurement Input | 1.66 | |||||||||
Director [Member] | Warrants Issued with Debt [Member] | Measurement Input, Expected Term [Member] | ||||||||||
Warrants and Rights Outstanding, Measurement Input | 5 | |||||||||
Director [Member] | Notes Payable [Member] | ||||||||||
Proceeds from Related Party Debt | $ 500,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.50% | |||||||||
Debt Instrument, Unamortized Discount, Total | $ 227,258 | |||||||||
Accretion Expense | 122,631 | |||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 1.25 | |||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 400,000 | |||||||||
Interest Expense, Related Party | 42,736 | 43,882 | ||||||||
Accounts Payable, Related Parties, Current | 10,861 | 10,625 | ||||||||
Director [Member] | Notes Payable [Member] | Warrants Issued with Debt [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 350,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||
Warrants and Rights Outstanding | $ 416,618 | |||||||||
Director [Member] | Consulting Agreement [Member] | ||||||||||
Accounts Payable, Related Parties, Current | 75,000 | 75,000 | ||||||||
Related Party Transaction, Amounts of Transaction | $ 200,000 | |||||||||
General and Administrative Expense, Total | $ 200,000 | |||||||||
Employee [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 10,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||
Employee [Member] | Promissory Note [Member] | ||||||||||
Proceeds from Related Party Debt | $ 100,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||
Debt Instrument, Unamortized Discount, Total | $ 10,435 | |||||||||
Accretion Expense | 1,844 | |||||||||
Rio Vista [Member] | Unsecured Promissory Note [Member] | ||||||||||
Proceeds from Related Party Debt | $ 500,000 | |||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||
Debt Instrument, Unamortized Discount, Total | $ 50,229 | |||||||||
Accretion Expense | $ 4,472 | |||||||||
Rio Vista [Member] | Warrants Issued to Rio Vista [Member] | ||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 50,000 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||
Key Employee and Principal Stockholder and Current Director [Member] | Royalty Agreement [Member] | ||||||||||
Deferred Compensation Arrangement with Individual, Maximum Contractual Term | 25 years | |||||||||
Payment of Royalties Equal to Percent of Gross Sales | 5.00% | |||||||||
Minimum Monthly Payment Amount to Offset Future Royalty Obligations | $ 2,500 | |||||||||
Revenue from Related Parties | 65,733 | 213,367 | ||||||||
Prepaid Royalties, Related Party, Noncurrent | $ 319,441 | $ 277,038 |
Note 4 - Commitments (Details T
Note 4 - Commitments (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||
Jan. 31, 2016 | Dec. 31, 2017 | Dec. 31, 2016 | Sep. 01, 2016 | |
Operating Leases, Rent Expense, Net, Total | $ 79,255 | $ 84,903 | ||
Research and Development Expense, Total | 179,351 | 464,570 | ||
SAA [Member] | ||||
Research and Development Expense, Total | 29,610 | 344,140 | ||
NASA ARC [Member] | SAA [Member] | ||||
Payments for Research Commitment | $ 373,750 | |||
Contractual Agreement, Period | 5 years | |||
Warehouse in Okeechobee [Member] | ||||
Lessee, Operating Lease, Term of Contract | 2 years | |||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 14,748 | |||
Operating Leases, Future Minimum Payments, Due in Two Years | $ 9,832 | |||
Operating Leases, Rent Expense, Total | $ 4,916 |
Note 5 - Note Payable (Details
Note 5 - Note Payable (Details Textual) - USD ($) | Dec. 14, 2017 | Dec. 31, 2017 | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 18, 2017 | Dec. 31, 2015 |
Proceeds from Notes Payable, Total | $ 404,419 | $ 195,355 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.86 | $ 1.86 | $ 1.53 | $ 1.44 | ||
Warrants Issued in Connection with Unsecured Promissory Note [Member] | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 50,000 | |||||
Warrants and Rights Outstanding, Term | 5 years | |||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | |||||
Unsecured Promissory Note [Member] | ||||||
Debt Instrument, Face Amount | $ 200,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||
Proceeds from Notes Payable, Total | $ 200,000 | |||||
Debt Instrument, Unamortized Discount, Total | 18,652 | $ 18,652 | ||||
Debt Instrument, Maturity Date | Dec. 13, 2019 | |||||
Unsecured Promissory Note [Member] | Other Expense [Member] | ||||||
Amortization of Debt Discount (Premium) | 434 | |||||
Notes Payable, Other Payables [Member] | ||||||
Debt Instrument, Face Amount | $ 223,707 | $ 223,707 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | 7.50% | ||||
Debt Instrument, Periodic Payment, Total | $ 19,353 | |||||
Notes Payable, Total | $ 204,419 | $ 204,419 |
Note 6 - Equity (Details Textua
Note 6 - Equity (Details Textual) | Dec. 14, 2017USD ($) | Oct. 31, 2017USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | Aug. 31, 2017USD ($)$ / sharesshares | Mar. 31, 2017USD ($)$ / sharesshares | Feb. 28, 2017USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2016USD ($)$ / sharesshares | Dec. 18, 2017$ / sharesshares | Mar. 09, 2017 | Feb. 17, 2017$ / shares | Feb. 28, 2016$ / sharesshares | Dec. 31, 2015$ / shares | Nov. 30, 2015shares |
Stock Issued During Period, Value, New Issues | $ 2,191,927 | $ 2,177,801 | ||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 3 | $ 1.25 | ||||||||||||
Payments of Stock Issuance Costs | $ 169,472 | $ 204,700 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.86 | $ 1.53 | $ 1.44 | |||||||||||
Stock Issued During Period, Shares, Issued for Services | shares | 100,000 | 20,000 | ||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 300,000 | $ 25,000 | ||||||||||||
Class of Warrant or Right, Exercised During Period | shares | 790,000 | |||||||||||||
Incentive Fees | $ 926,885 | |||||||||||||
Proceeds from Related Party Debt | 1,100,000 | |||||||||||||
Accretion Expense | $ 15,468 | $ 122,631 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 440,000 | 2,915,000 | ||||||||||||
Equity Incentive Plan 2015 [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 4,000,000 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 440,000 | 2,915,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ 455,046 | $ 1,842,233 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period | shares | 30,000 | 160,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Rate | 0.00% | 0.00% | ||||||||||||
Equity Incentive Plan 2015 [Member] | Minimum [Member] | ||||||||||||||
Share Price | $ / shares | $ 0.63 | |||||||||||||
Equity Incentive Plan 2015 [Member] | Maximum [Member] | ||||||||||||||
Share Price | $ / shares | $ 1.25 | |||||||||||||
Equity Incentive Plan 2015 [Member] | Employee Stock Option [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments | $ 0 | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Minimum | 1.10% | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate, Maximum | 1.30% | |||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term | 5 years | |||||||||||||
Allocated Share-based Compensation Expense, Total | $ 124,415 | $ 1,783,542 | ||||||||||||
Equity Incentive Plan 2015 [Member] | Employee Stock Option [Member] | Minimum [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 146.00% | |||||||||||||
Equity Incentive Plan 2015 [Member] | Employee Stock Option [Member] | Maximum [Member] | ||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate | 148.39% | |||||||||||||
Unsecured Promissory Note [Member] | ||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 18,652 | |||||||||||||
Employee [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 40,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 4.50 | $ 2 | $ 1.50 | |||||||||||
Proceeds from Warrant Exercises | $ 60,000 | |||||||||||||
Warrants and Rights Outstanding | $ 46,000 | |||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||
Class of Warrant or Right, Exercised During Period | shares | 40,000 | |||||||||||||
Director [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 50,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||
Director [Member] | Promissory Note [Member] | ||||||||||||||
Proceeds from Related Party Debt | $ 500,000 | |||||||||||||
Debt Instrument, Unamortized Discount, Total | 52,166 | |||||||||||||
Accretion Expense | 8,718 | |||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 500,000 | |||||||||||||
Investor [Member] | Unsecured Promissory Note [Member] | ||||||||||||||
Proceeds from Related Party Debt | $ 200,000 | |||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 18,652 | |||||||||||||
Accretion Expense | 434 | |||||||||||||
Employee [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 10,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||
Employee [Member] | Promissory Note [Member] | ||||||||||||||
Proceeds from Related Party Debt | $ 100,000 | |||||||||||||
Debt Instrument, Unamortized Discount, Total | 10,435 | |||||||||||||
Accretion Expense | 1,844 | |||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 100,000 | |||||||||||||
Rio Vista [Member] | Unsecured Promissory Note [Member] | ||||||||||||||
Proceeds from Related Party Debt | $ 500,000 | |||||||||||||
Debt Instrument, Unamortized Discount, Total | 50,229 | |||||||||||||
Accretion Expense | $ 4,472 | |||||||||||||
Proceeds from Issuance of Long-term Debt, Total | $ 500,000 | |||||||||||||
Fully Vested, Non-forfeitable Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 10,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.25 | |||||||||||||
Warrants and Rights Outstanding | $ 11,899 | |||||||||||||
July 16, 2015 Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.50 | |||||||||||||
Proceeds from Warrant Exercises | $ 525,000 | |||||||||||||
March 1, 2017 Warrants [Member] | ||||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 350,000 | |||||||||||||
New Smith Warrant [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 350,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 4.50 | |||||||||||||
Warrants and Rights Outstanding | $ 402,000 | |||||||||||||
New Smith Warrant [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | |||||||||||||
New Smith Warrant [Member] | Measurement Input, Price Volatility [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 148.4 | |||||||||||||
New Smith Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 1.89 | |||||||||||||
New Smith Warrant [Member] | Measurement Input, Expected Term [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 5 | |||||||||||||
February 19, 2016 Warrants [Member] | Diamond B Capital, LLC [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 400,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 1.50 | $ 2 | ||||||||||||
Proceeds from Warrant Exercises | $ 600,000 | |||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||
Class of Warrant or Right, Exercised During Period | shares | 400,000 | |||||||||||||
February 19, 2016 Warrants [Member] | Diamond B Capital, LLC [Member] | Director [Member] | ||||||||||||||
Related Party Transaction, Ownership Percentage | 12.00% | |||||||||||||
New Diamond B Warrant [Member] | Diamond B Capital, LLC [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 400,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 4.50 | |||||||||||||
Warrants and Rights Outstanding | $ 463,000 | |||||||||||||
New Diamond B Warrant [Member] | Measurement Input, Expected Dividend Rate [Member] | Diamond B Capital, LLC [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | |||||||||||||
New Diamond B Warrant [Member] | Measurement Input, Price Volatility [Member] | Diamond B Capital, LLC [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 148.4 | |||||||||||||
New Diamond B Warrant [Member] | Measurement Input, Risk Free Interest Rate [Member] | Diamond B Capital, LLC [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 1.89 | |||||||||||||
New Diamond B Warrant [Member] | Measurement Input, Expected Term [Member] | Diamond B Capital, LLC [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 5 | |||||||||||||
Warrant to Employee 2 [Member] | Employee [Member] | ||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||
Warrant to Employee 2 [Member] | Measurement Input, Expected Dividend Rate [Member] | Employee [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 0 | |||||||||||||
Warrant to Employee 2 [Member] | Measurement Input, Price Volatility [Member] | Employee [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 148.4 | |||||||||||||
Warrant to Employee 2 [Member] | Measurement Input, Risk Free Interest Rate [Member] | Employee [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 2.05 | |||||||||||||
Warrant to Employee 2 [Member] | Measurement Input, Expected Term [Member] | Employee [Member] | ||||||||||||||
Warrants and Rights Outstanding, Measurement Input | 5 | |||||||||||||
Warrants Issued for Services [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 890,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||||||
Adjustments to Additional Paid in Capital, Warrant Issued | $ 1,019,855 | 11,899 | ||||||||||||
Warrants and Rights Outstanding | $ 1,019,855 | |||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||
Warrants Issued to an Investor [Member] | Investor [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 50,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||
Warrants Issued to Rio Vista [Member] | Rio Vista [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 50,000 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | |||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||
Private Placement [Member] | ||||||||||||||
Stock Issued During Period, Value, New Issues | $ 10,000,000 | |||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 3 | |||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 787,133 | 221,667 | ||||||||||||
Proceeds from Issuance of Private Placement | $ 2,361,399 | $ 665,001 | ||||||||||||
Payments of Stock Issuance Costs | $ 169,472 | $ 53,200 | ||||||||||||
Private Placement [Member] | Fully Vested, Non-forfeitable Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 50,409 | 11,083 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 3 | $ 3 | ||||||||||||
Adjustments to Additional Paid in Capital, Warrant Issued | $ 46,000 | $ 11,000 | ||||||||||||
October 2015 Private Offering [Member] | ||||||||||||||
Shares Issued, Price Per Share | $ / shares | $ 1.25 | |||||||||||||
Stock Issued During Period, Shares, New Issues | shares | 1,374,000 | |||||||||||||
Proceeds from Issuance of Private Placement | $ 1,717,500 | |||||||||||||
Payments of Stock Issuance Costs | $ 151,500 | |||||||||||||
Share Price | $ / shares | $ 2 | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares | 1 | |||||||||||||
October 2015 Private Offering [Member] | Fully Vested, Non-forfeitable Warrants [Member] | ||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 152,575 | |||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 2 | |||||||||||||
Adjustments to Additional Paid in Capital, Warrant Issued | $ 153,000 |
Note 6 - Equity - Warrant Activ
Note 6 - Equity - Warrant Activity (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding, number of warrants (in shares) | 9,664,733 | 8,117,075 |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.53 | $ 1.44 |
Granted, number of warrants (in shares) | 1,838,442 | 1,547,658 |
Granted, weighted average exercise price (in dollars per share) | $ 2.01 | $ 2.01 |
Exercised, number of warrants (in shares) | (790,000) | |
Exercised, weighted average exercise price (in dollars per share) | $ 2 | |
Cancelled/Forfeited (in shares) | ||
Outstanding and exercisable, weighted average remaining contractual life (Year) | 2 years 292 days | 3 years 182 days |
Outstanding and exercisable, aggregate intrinsic value | $ 2,606,698 | $ 14,383,083 |
Outstanding, number of warrants (in shares) | 10,713,175 | 9,664,733 |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.86 | $ 1.53 |
Note 6 - Equity - Option Activi
Note 6 - Equity - Option Activity (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Outstanding, number of options (in shares) | 2,755,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.25 | |
Granted, number of options (in shares) | 440,000 | 2,915,000 |
Granted, weighted average exercise price (in dollars per share) | $ 3 | $ 1.25 |
Exercised, number of options (in shares) | ||
Exercised, weighted average exercise price (in dollars per share) | ||
Cancelled/Forfeited, number of options (in shares) | 30,000 | 160,000 |
Cancelled/Forfeited, weighted average exercise price (in dollars per share) | $ 1.25 | $ 1.25 |
Outstanding, number of options (in shares) | 3,165,000 | 2,755,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.49 | $ 1.25 |
Outstanding, weighted average remaining contractual life (Year) | 8 years 182 days | 8 years 255 days |
Outstanding, aggregate intrinsic value | $ 192,850 | $ 192,850 |
Exercisable, number of options (in shares) | 2,750,000 | 2,500,000 |
Exercisable - December 31, 2016 (in dollars per share) | $ 1.27 | $ 1.25 |
Exercisable, weighted average remaining contractual life (Year) | 8 years 73 days | 8 years 255 days |
Exercisable, aggregate intrinsic value | $ 192,850 | $ 175,350 |
Note 7 - Income Taxes (Details
Note 7 - Income Taxes (Details Textual) $ in Millions | Dec. 31, 2017USD ($) |
Operating Loss Carryforwards, Total | $ 17 |
Note 7 - Income Taxes - Reconci
Note 7 - Income Taxes - Reconciliation of the Federal Statutory Rate to Income Tax Expense (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Federal income tax benefit at 34% | $ (2,593,000) | $ (2,367,000) |
State income tax net of federal tax effect | (381,000) | (348,000) |
Permanent items | 11,000 | 13,000 |
Other | 7,000 | 4,000 |
Tax reform | 2,790,000 | |
Valuation allowance | $ (166,000) | $ 2,698,000 |
Note 7 - Income Taxes - Recon33
Note 7 - Income Taxes - Reconciliation of the Federal Statutory Rate to Income Tax Expense (Details) (Parentheticals) | 12 Months Ended | |
Dec. 31, 2017 | Dec. 31, 2016 | |
Federal income tax rate | 34.00% | 34.00% |
Note 7 - Income Taxes - Deferre
Note 7 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2017 | Dec. 31, 2016 |
Net operating loss carry forwards | $ 4,601,000 | $ 4,306,000 |
Property and equipment | (21,000) | (19,000) |
Debt discount related to warrants | 66,000 | 89,000 |
Patent and trademarks net of amortization | 16,000 | 21,000 |
Bad Debt | 42,000 | |
Accruals and other | 43,000 | 33,000 |
Stock-based compensation | 1,530,000 | 1,681,000 |
Deferred tax asset | 6,277,000 | 6,111,000 |
Valuation allowance | $ (6,277,000) | $ (6,111,000) |
Note 8 - Subsequent Events (Det
Note 8 - Subsequent Events (Details Textual) - USD ($) | Jul. 02, 2018 | Jun. 29, 2018 | May 02, 2018 | Mar. 12, 2018 | Mar. 08, 2018 | Feb. 20, 2018 | Jan. 19, 2018 | Jan. 16, 2018 | Dec. 14, 2017 | Jul. 26, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | Mar. 09, 2018 | Jan. 18, 2018 | Sep. 30, 2017 | Dec. 31, 2015 |
Proceeds from Related Party Debt | $ 1,100,000 | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.86 | $ 1.53 | $ 1.44 | |||||||||||||
Proceeds from Issuance of Common Stock | $ 2,361,399 | $ 2,382,501 | ||||||||||||||
Payments of Stock Issuance Costs | $ 169,472 | $ 204,700 | ||||||||||||||
Fully Vested, Non-forfeitable Warrants [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 10,000 | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1.25 | |||||||||||||||
Director [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 50,000 | |||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | |||||||||||||||
Unsecured Promissory Note [Member] | ||||||||||||||||
Debt Instrument, Face Amount | $ 200,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||
Debt Instrument, Maturity Date | Dec. 13, 2019 | |||||||||||||||
Unsecured Promissory Note [Member] | Investor [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 200,000 | |||||||||||||||
Subsequent Event [Member] | ||||||||||||||||
Share Price | $ 3 | |||||||||||||||
Stock Issued During Period, Shares, New Issues | 237,051 | |||||||||||||||
Proceeds from Issuance of Common Stock | $ 711,154 | |||||||||||||||
Payments of Stock Issuance Costs | $ 25,680 | |||||||||||||||
Subsequent Event [Member] | BAM [Member] | ||||||||||||||||
License and Business Development Agreement, Consideration Received, to Purchase Shares in Connection to a Private Placement | $ 100,000 | |||||||||||||||
Subsequent Event [Member] | BAM [Member] | Argo Space [Member] | ||||||||||||||||
License and Business Development Agreement, Contingent Consideration Arrangements, Range of Outcomes, Value, High | 900,000 | |||||||||||||||
Subsequent Event [Member] | Lichtinger Goup [Member] | ||||||||||||||||
Maximum Amount of Capital Contributed | $ 500,000 | |||||||||||||||
Subsequent Event [Member] | Argo Space [Member] | BAM [Member] | ||||||||||||||||
Equity Method Investment, Ownership Percentage | 20.00% | |||||||||||||||
Capital Contribution Threshold | $ 500,000 | |||||||||||||||
Subsequent Event [Member] | First Warrant [Member] | ||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | |||||||||||||||
Subsequent Event [Member] | Second Warrant 1 [Member] | ||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | |||||||||||||||
Subsequent Event [Member] | Warrants Issued in Connection with Issuance of Secured Notes to Shareholders [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 2,050,000 | |||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | |||||||||||||||
Subsequent Event [Member] | Fully Vested, Non-forfeitable Warrants [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 165,000 | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | |||||||||||||||
Subsequent Event [Member] | Warrants Issued Pursuant to August 15, 2016 Offering [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 7,000 | |||||||||||||||
Subsequent Event [Member] | Investor [Member] | First Warrant [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 50,000 | |||||||||||||||
Subsequent Event [Member] | Investor [Member] | Second Warrant 1 [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 10,000 | |||||||||||||||
Subsequent Event [Member] | Director [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 250,000 | |||||||||||||||
Addition Funding Committed | $ 250,000 | |||||||||||||||
Subsequent Event [Member] | Director [Member] | Third Warrant [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 20,000 | |||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | |||||||||||||||
Subsequent Event [Member] | Director [Member] | Fifth Warrant [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 30,000 | |||||||||||||||
Subsequent Event [Member] | BPI [Member] | Fourth Warrant [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 20,000 | |||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3 | |||||||||||||||
Subsequent Event [Member] | Shareholders [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 550,000 | |||||||||||||||
Subsequent Event [Member] | Unsecured Promissory Note [Member] | First Note [Member] | Investor [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 500,000 | |||||||||||||||
Debt Instrument, Face Amount | $ 500,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||
Debt Instrument, Maturity Date | Oct. 26, 2019 | |||||||||||||||
Subsequent Event [Member] | Unsecured Promissory Note [Member] | Second Note [Member] | Investor [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 100,000 | |||||||||||||||
Debt Instrument, Face Amount | $ 100,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||
Debt Instrument, Maturity Date | Jan. 18, 2020 | |||||||||||||||
Subsequent Event [Member] | Unsecured Promissory Note [Member] | Third Note [Member] | Director [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 200,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||
Debt Instrument, Maturity Date | Mar. 7, 2020 | |||||||||||||||
Subsequent Event [Member] | Unsecured Promissory Note [Member] | Fourth Note [Member] | BPI [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 200,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | |||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 3 | |||||||||||||||
Debt Instrument, Maturity Date | Mar. 11, 2020 | |||||||||||||||
Subsequent Event [Member] | Unsecured Promissory Note [Member] | Fifth Note [Member] | Director [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 300,001 | |||||||||||||||
Subsequent Event [Member] | Secured Note [Member] | Director [Member] | ||||||||||||||||
Proceeds from Related Party Debt | $ 1,000,000 | |||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% |