Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2020 | |
Document Information [Line Items] | |
Entity Registrant Name | GeoVax Labs, Inc. |
Entity Central Index Key | 0000832489 |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | false |
Entity Small Business | true |
Document Type | S-1 |
Document Fiscal Year Focus | 2020 |
Document Fiscal Period Focus | Q1 |
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
ASSETS | |||||
Cash and cash equivalents | $ 221,807 | $ 283,341 | $ 175,985 | $ 259,701 | $ 312,727 |
Grant funds and other receivables | 520,509 | 68,603 | 121,814 | ||
Prepaid expenses and other current assets | 67,895 | 95,320 | 238,189 | ||
Total current assets | 810,211 | 447,264 | 619,704 | ||
Property and equipment, net (Note 3) | 9,612 | 10,606 | 11,350 | ||
Deposits | 11,010 | 11,010 | 11,010 | ||
Total assets | 830,833 | 468,880 | 642,064 | ||
Current liabilities: | |||||
Accounts payable | 740,829 | 152,653 | 125,859 | ||
Accrued expenses (Note 4) | 1,917,425 | 1,851,040 | 1,238,552 | ||
Current portion of notes payable (Note 5) | 12,048 | 12,500 | 260,420 | ||
Total current liabilities | 2,670,302 | 2,016,193 | 1,624,831 | ||
Note payable, net of current portion (Note 5) | 24,781 | 27,243 | 39,580 | ||
Total liabilities | 2,695,083 | 2,043,436 | 1,664,411 | ||
Commitments (Note 6) | |||||
Stockholders’ equity (deficiency): | |||||
Preferred stock, $.01 par value (Note 7): Authorized shares – 10,000,000 Issued and outstanding shares – 2,486 and 3,450 at December 31, 2019 and 2018, respectively | 376,095 | 1,932,433 | 1,971,333 | ||
Common stock, $.001 par value: Authorized shares – 600,000,000 Issued and outstanding shares – 299,835 and 219 at December 31, 2019 and 2018, respectively | 13,792 | 300 | |||
Additional paid-in capital | 41,189,070 | 39,340,224 | 37,483,204 | ||
Accumulated deficit | (43,443,207) | (42,847,513) | (40,476,884) | ||
Total stockholders’ equity (deficiency) | (1,864,250) | (1,574,556) | $ (1,207,149) | (1,022,347) | $ (321,057) |
Total liabilities and stockholders’ equity (deficiency) | $ 830,833 | $ 468,880 | $ 642,064 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 400 | 2,486 | 3,450 |
Preferred stock, outstanding (in shares) | 400 | 2,486 | 3,450 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 600,000,000 | 600,000,000 | 600,000,000 |
Common stock, issued (in shares) | 13,791,601 | 299,835 | 219 |
Common stock, outstanding (in shares) | 13,791,601 | 299,835 | 219 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Grant and collaboration revenue | $ 715,977 | $ 364,232 | $ 1,175,896 | $ 963,203 |
Operating expenses: | ||||
Research and development | 808,936 | 555,718 | 1,910,715 | 1,878,652 |
General and administrative | 502,345 | 510,064 | 1,637,674 | 1,647,268 |
Total operating expenses | 1,311,281 | 1,065,782 | 3,548,389 | 3,525,920 |
Loss from operations | (595,304) | (701,550) | (2,372,493) | (2,562,717) |
Other income (expense): | ||||
Interest income | 752 | 1,224 | 6,359 | 5,213 |
Interest expense | (1,142) | (1,128) | (4,495) | (2,590) |
Total other income (expense) | (390) | 96 | 1,864 | 2,623 |
Net loss | $ (595,694) | $ (701,454) | $ (2,370,629) | $ (2,560,094) |
Basic and diluted: | ||||
Loss per common share (in dollars per share) | $ (0.13) | $ (2,851.44) | $ (39.25) | $ (15,610.33) |
Weighted average shares outstanding (in shares) | 4,687,893 | 246 | 60,402 | 164 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Equity (Deficiency) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 3,670 | 107 | |||
Balance at Dec. 31, 2017 | $ 1,899,085 | $ 35,696,648 | $ (37,916,790) | $ (321,057) | |
Sale of convertible preferred stock for cash (in shares) | 1,200 | ||||
Sale of convertible preferred stock for cash | $ 1,190,000 | 1,190,000 | |||
Conversion of preferred stock to common stock (in shares) | (1,420) | 95 | |||
Conversion of preferred stock to common stock | $ (1,117,752) | 1,117,752 | |||
Issuance of common stock for services (in shares) | 17 | 17 | |||
Issuance of common stock for services | 513,500 | $ 513,500 | |||
Stock-based compensation expense | 155,304 | 155,304 | |||
Net loss | (2,560,094) | (2,560,094) | |||
Balance (in shares) at Dec. 31, 2018 | 3,450 | 219 | |||
Balance at Dec. 31, 2018 | $ 1,971,333 | 37,483,204 | (40,476,884) | (1,022,347) | |
Sale of convertible preferred stock for cash (in shares) | 500 | ||||
Sale of convertible preferred stock for cash | $ 404,250 | 85,750 | 490,000 | ||
Conversion of preferred stock to common stock (in shares) | (767) | 59 | |||
Conversion of preferred stock to common stock | $ (303,475) | 303,475 | |||
Stock-based compensation expense | 26,652 | 26,652 | |||
Net loss | (701,454) | (701,454) | |||
Balance (in shares) at Mar. 31, 2019 | 3,183 | 278 | |||
Balance at Mar. 31, 2019 | $ 2,072,108 | 37,899,081 | (41,178,338) | (1,207,149) | |
Balance (in shares) at Dec. 31, 2018 | 3,450 | 219 | |||
Balance at Dec. 31, 2018 | $ 1,971,333 | 37,483,204 | (40,476,884) | (1,022,347) | |
Sale of convertible preferred stock for cash (in shares) | 1,700 | ||||
Sale of convertible preferred stock for cash | $ 1,542,950 | 147,050 | 1,690,000 | ||
Conversion of preferred stock to common stock (in shares) | (2,664) | 296,390 | |||
Conversion of preferred stock to common stock | $ (1,581,850) | $ 296 | 1,581,554 | ||
Issuance of common stock for services (in shares) | 3,224 | 3,224 | |||
Issuance of common stock for services | $ 3 | 23,997 | $ 24,000 | ||
Stock-based compensation expense | 104,420 | 104,420 | |||
Net loss | (2,370,629) | (2,370,629) | |||
Adjustments and rounding for reverse stock split (in shares) | 2 | ||||
Adjustments and rounding for reverse stock split | $ 1 | (1) | |||
Balance (in shares) at Dec. 31, 2019 | 2,486 | 299,835 | |||
Balance at Dec. 31, 2019 | $ 1,932,433 | $ 300 | 39,340,224 | (42,847,513) | (1,574,556) |
Sale of convertible preferred stock for cash (in shares) | 300 | ||||
Sale of convertible preferred stock for cash | $ 300,000 | 300,000 | |||
Conversion of preferred stock to common stock (in shares) | (2,386) | 13,481,349 | |||
Conversion of preferred stock to common stock | $ (1,856,338) | $ 13,481 | 1,842,857 | ||
Issuance of common stock for services (in shares) | 10,417 | 10,417 | |||
Issuance of common stock for services | $ 11 | 5,989 | $ 6,000 | ||
Net loss | (595,694) | (595,694) | |||
Balance (in shares) at Mar. 31, 2020 | 400 | 13,791,601 | |||
Balance at Mar. 31, 2020 | $ 376,095 | $ 13,792 | $ 41,189,070 | $ (43,443,207) | $ (1,864,250) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | ||||
Net loss | $ (595,694) | $ (701,454) | $ (2,370,629) | $ (2,560,094) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 994 | 1,897 | 8,350 | 19,801 |
Stock-based compensation expense | 6,000 | 153,224 | 327,500 | 469,724 |
Changes in assets and liabilities: | ||||
Grant funds and other receivables | (451,906) | (38,463) | 53,211 | (62,056) |
Prepaid expenses and other current assets | 27,425 | (30) | (56,211) | 36,480 |
Accounts payable and accrued expenses | 654,561 | 267,465 | 639,282 | 553,119 |
Total adjustments | 237,074 | 384,093 | 972,132 | 1,017,068 |
Net cash used in operating activities | (358,620) | (317,361) | (1,398,497) | (1,543,026) |
Cash flows from investing activities: | ||||
Purchase of property and equipment | (4,272) | (7,606) | ||
Net cash used in investing activities | (4,272) | (7,606) | ||
Cash flows from financing activities: | ||||
Net proceeds from sale of preferred stock | 300,000 | 240,000 | 1,440,000 | 1,190,000 |
Proceeds from issuance of notes payable | 300,000 | |||
Principal repayment of notes payable | (2,914) | (2,083) | (10,257) | |
Net cash provided by financing activities | 297,086 | 237,917 | 1,429,743 | 1,490,000 |
Net increase (decrease) in cash and cash equivalents | (61,534) | (83,716) | 23,640 | (53,026) |
Cash and cash equivalents at beginning of period | 283,341 | 259,701 | 259,701 | 312,727 |
Cash and cash equivalents at end of period | $ 221,807 | $ 175,985 | $ 283,341 | $ 259,701 |
Consolidated Statements of Ca_2
Consolidated Statements of Cash Flows (Parentheticals) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Common stock issued (in shares) | 296,390 | 95 |
Conversion from Notes Payable to Convertible Preferred Stock [Member] | ||
Notes payable cancelled in exchange for convertible preferred stock | $ 250,000 | |
Conversion of Preferred Stock into Common Stock [Member] | ||
Preferred stock converted (in shares) | 2,664 | 1,420 |
Common stock issued (in shares) | 296,390 | 95 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 |
ASSETS | |||||
Cash and cash equivalents | $ 221,807 | $ 283,341 | $ 175,985 | $ 259,701 | $ 312,727 |
Grant funds and other receivables | 520,509 | 68,603 | 121,814 | ||
Prepaid expenses and other current assets | 67,895 | 95,320 | 238,189 | ||
Total current assets | 810,211 | 447,264 | 619,704 | ||
Property and equipment, net (Note 3) | 9,612 | 10,606 | 11,350 | ||
Deposits | 11,010 | 11,010 | 11,010 | ||
Total assets | 830,833 | 468,880 | 642,064 | ||
Current liabilities: | |||||
Accounts payable | 740,829 | 152,653 | 125,859 | ||
Accrued expenses (Note 4) | 1,917,425 | 1,851,040 | 1,238,552 | ||
Current portion of notes payable (Note 5) | 12,048 | 12,500 | 260,420 | ||
Total current liabilities | 2,670,302 | 2,016,193 | 1,624,831 | ||
Note payable, net of current portion (Note 5) | 24,781 | 27,243 | 39,580 | ||
Total liabilities | 2,695,083 | 2,043,436 | 1,664,411 | ||
Commitments (Note 6) | |||||
Stockholders’ equity (deficiency): | |||||
Preferred stock, $.01 par value (Note 7): Authorized shares – 10,000,000 Issued and outstanding shares – 2,486 and 3,450 at December 31, 2019 and 2018, respectively | 376,095 | 1,932,433 | 1,971,333 | ||
Common stock, $.001 par value: Authorized shares – 600,000,000 Issued and outstanding shares – 299,835 and 219 at December 31, 2019 and 2018, respectively | 13,792 | 300 | |||
Additional paid-in capital | 41,189,070 | 39,340,224 | 37,483,204 | ||
Accumulated deficit | (43,443,207) | (42,847,513) | (40,476,884) | ||
Total stockholders’ equity (deficiency) | (1,864,250) | (1,574,556) | $ (1,207,149) | (1,022,347) | $ (321,057) |
Total liabilities and stockholders’ equity (deficiency) | $ 830,833 | $ 468,880 | $ 642,064 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 |
Preferred stock, issued (in shares) | 400 | 2,486 | 3,450 |
Preferred stock, outstanding (in shares) | 400 | 2,486 | 3,450 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 |
Common stock, authorized (in shares) | 600,000,000 | 600,000,000 | 600,000,000 |
Common stock, issued (in shares) | 13,791,601 | 299,835 | 219 |
Common stock, outstanding (in shares) | 13,791,601 | 299,835 | 219 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Grant and collaboration revenue | $ 715,977 | $ 364,232 | $ 1,175,896 | $ 963,203 |
Operating expenses: | ||||
Research and development | 808,936 | 555,718 | 1,910,715 | 1,878,652 |
General and administrative | 502,345 | 510,064 | 1,637,674 | 1,647,268 |
Total operating expenses | 1,311,281 | 1,065,782 | 3,548,389 | 3,525,920 |
Loss from operations | (595,304) | (701,550) | (2,372,493) | (2,562,717) |
Other income (expense): | ||||
Interest income | 752 | 1,224 | 6,359 | 5,213 |
Interest expense | (1,142) | (1,128) | (4,495) | (2,590) |
Total other income (expense) | (390) | 96 | 1,864 | 2,623 |
Net loss | $ (595,694) | $ (701,454) | $ (2,370,629) | $ (2,560,094) |
Basic and diluted: | ||||
Loss per common share (in dollars per share) | $ (0.13) | $ (2,851.44) | $ (39.25) | $ (15,610.33) |
Weighted average shares outstanding (in shares) | 4,687,893 | 246 | 60,402 | 164 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficiency) (Unaudited) - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 3,670 | 107 | |||
Balance at Dec. 31, 2017 | $ 1,899,085 | $ 35,696,648 | $ (37,916,790) | $ (321,057) | |
Sale of convertible preferred stock for cash (in shares) | 1,200 | ||||
Sale of convertible preferred stock for cash | $ 1,190,000 | 1,190,000 | |||
Conversion of preferred stock to common stock (in shares) | (1,420) | 95 | |||
Conversion of preferred stock to common stock | $ (1,117,752) | 1,117,752 | |||
Issuance of common stock for services (in shares) | 17 | 17 | |||
Issuance of common stock for services | 513,500 | $ 513,500 | |||
Net loss | (2,560,094) | (2,560,094) | |||
Stock-based compensation expense | 155,304 | 155,304 | |||
Balance (in shares) at Dec. 31, 2018 | 3,450 | 219 | |||
Balance at Dec. 31, 2018 | $ 1,971,333 | 37,483,204 | (40,476,884) | (1,022,347) | |
Sale of convertible preferred stock for cash (in shares) | 500 | ||||
Sale of convertible preferred stock for cash | $ 404,250 | 85,750 | 490,000 | ||
Conversion of preferred stock to common stock (in shares) | (767) | 59 | |||
Conversion of preferred stock to common stock | $ (303,475) | 303,475 | |||
Net loss | (701,454) | (701,454) | |||
Stock-based compensation expense | 26,652 | 26,652 | |||
Balance (in shares) at Mar. 31, 2019 | 3,183 | 278 | |||
Balance at Mar. 31, 2019 | $ 2,072,108 | 37,899,081 | (41,178,338) | (1,207,149) | |
Balance (in shares) at Dec. 31, 2018 | 3,450 | 219 | |||
Balance at Dec. 31, 2018 | $ 1,971,333 | 37,483,204 | (40,476,884) | (1,022,347) | |
Sale of convertible preferred stock for cash (in shares) | 1,700 | ||||
Sale of convertible preferred stock for cash | $ 1,542,950 | 147,050 | 1,690,000 | ||
Conversion of preferred stock to common stock (in shares) | (2,664) | 296,390 | |||
Conversion of preferred stock to common stock | $ (1,581,850) | $ 296 | 1,581,554 | ||
Issuance of common stock for services (in shares) | 3,224 | 3,224 | |||
Issuance of common stock for services | $ 3 | 23,997 | $ 24,000 | ||
Net loss | (2,370,629) | (2,370,629) | |||
Stock-based compensation expense | 104,420 | 104,420 | |||
Balance (in shares) at Dec. 31, 2019 | 2,486 | 299,835 | |||
Balance at Dec. 31, 2019 | $ 1,932,433 | $ 300 | 39,340,224 | (42,847,513) | (1,574,556) |
Sale of convertible preferred stock for cash (in shares) | 300 | ||||
Sale of convertible preferred stock for cash | $ 300,000 | 300,000 | |||
Conversion of preferred stock to common stock (in shares) | (2,386) | 13,481,349 | |||
Conversion of preferred stock to common stock | $ (1,856,338) | $ 13,481 | 1,842,857 | ||
Issuance of common stock for services (in shares) | 10,417 | 10,417 | |||
Issuance of common stock for services | $ 11 | 5,989 | $ 6,000 | ||
Net loss | (595,694) | (595,694) | |||
Balance (in shares) at Mar. 31, 2020 | 400 | 13,791,601 | |||
Balance at Mar. 31, 2020 | $ 376,095 | $ 13,792 | $ 41,189,070 | $ (43,443,207) | $ (1,864,250) |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Cash flows from operating activities: | ||||
Net loss | $ (595,694) | $ (701,454) | $ (2,370,629) | $ (2,560,094) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 994 | 1,897 | 8,350 | 19,801 |
Stock-based compensation expense | 6,000 | 153,224 | 327,500 | 469,724 |
Changes in assets and liabilities: | ||||
Grant funds and other receivables | (451,906) | (38,463) | 53,211 | (62,056) |
Prepaid expenses and other current assets | 27,425 | (30) | (56,211) | 36,480 |
Accounts payable and accrued expenses | 654,561 | 267,465 | 639,282 | 553,119 |
Total adjustments | 237,074 | 384,093 | 972,132 | 1,017,068 |
Net cash used in operating activities | (358,620) | (317,361) | (1,398,497) | (1,543,026) |
Cash flows from investing activities: | ||||
Purchase of property and equipment | (4,272) | (7,606) | ||
Net cash used in investing activities | (4,272) | (7,606) | ||
Cash flows from financing activities: | ||||
Net proceeds from sale of preferred stock | 300,000 | 240,000 | 1,440,000 | 1,190,000 |
Principal repayment of notes payable | (2,914) | (2,083) | (10,257) | |
Net cash provided by financing activities | 297,086 | 237,917 | 1,429,743 | 1,490,000 |
Net increase (decrease) in cash and cash equivalents | (61,534) | (83,716) | 23,640 | (53,026) |
Cash and cash equivalents at beginning of period | 283,341 | 259,701 | 259,701 | 312,727 |
Cash and cash equivalents at end of period | $ 221,807 | $ 175,985 | $ 283,341 | $ 259,701 |
Condensed Consolidated Statem_4
Condensed Consolidated Statements of Cash Flows (Unaudited) (Parentheticals) | 3 Months Ended |
Mar. 31, 2019USD ($)shares | |
Conversion of Series C Preferred Stock Into Series F Preferred Stock [Member] | |
Preferred stock converted (in shares) | 1,563 |
Conversion of Series E Preferred Stock Into Series F Preferred Stock [Member] | |
Preferred stock converted (in shares) | 1,200 |
Conversion of Series C and Series E Preferred Stock Into Series F Preferred Stock [Member] | |
Common stock issued (in shares) | 2,763 |
Series G Convertible Preferred Stock Issued in Exchange for Cancellation of Term notes Payable [Member] | |
Preferred stock converted (in shares) | 250 |
Notes payable cancelled in exchange for convertible preferred stock | $ | $ 250,000 |
Conversion of Series C Preferred Stock Into Common Stock [Member] | |
Preferred stock converted (in shares) | 587 |
Common stock issued (in shares) | 39 |
Conversion of Series F Preferred Stock Into Common Stock [Member] | |
Preferred stock converted (in shares) | 180 |
Common stock issued (in shares) | 20 |
Note 1 - Description of Busines
Note 1 - Description of Business | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Nature of Operations [Text Block] | 1. GeoVax Labs, Inc. (“GeoVax” or the “Company”), is a clinical-stage biotechnology company developing human vaccines and immunotherapies against infectious diseases and cancers using a novel patented Modified Vaccinia Ankara (MVA) Virus-Like Particle (VLP) vaccine platform (GV-MVA-VLP TM Our current development programs are focused on preventive vaccines against novel coronavirus (COVID- 19 Our corporate strategy is to improve the health of patients worldwide by advancing our vaccine platform, using its unique capabilities to design and develop an array of products addressing unmet medical needs in the areas of infectious diseases and oncology. We intend to advance products through to human clinical testing, and to seek partnership or licensing arrangements for commercialization. We also leverage third Certain of our vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and human clinical trials. We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, may one GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in the metropolitan Atlanta, Georgia area. | 1. Description of Business GeoVax Labs, Inc. (“GeoVax” or the “Company”), is a clinical-stage biotechnology company developing human vaccines and immunotherapies against infectious diseases and cancers using a novel patented Modified Vaccinia Ankara Virus-Like Particle (MVA-VLP) vaccine platform. In this platform, MVA, a large virus capable of carrying several vaccine antigens, expresses proteins that assemble into highly effective VLP immunogens in the person being vaccinated. The MVA-VLP virus replicates to high titers in approved avian cells for manufacturing but cannot productively replicate in mammalian cells. Therefore, the MVA-VLP derived vaccines elicit durable immune responses in the host similar to a live attenuated virus, while providing the safety characteristics of a replication-defective vector. Our current development programs are focused on preventive vaccines against coronavirus (COVID- 19 Our corporate strategy is to improve health to patients worldwide by advancing our vaccine platform, using its unique capabilities to design and develop an array of products addressing unmet medical needs in the areas of infectious diseases and oncology. We aim to advance products through to human clinical testing, and to seek partnership or licensing arrangements for achieving regulatory approval and commercialization. We also leverage third Certain of our vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and human clinical trials. We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, may one GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in the metropolitan Atlanta, Georgia area. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Significant Accounting Policies [Text Block] | 3. We disclosed in Note 2 10 December 31, 2019 no 10 There have been no three March 31, 2020, 10 December 31, 2019, | 2. Principles of Consolidation The accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiaries, GeoVax, Inc. and Immutak Oncology, Inc. All intercompany transactions have been eliminated in consolidation. Basis of Presentation As described in Notes 7 11, April 30, 2019, one five hundred January 21, 2020, one two thousand The accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve We believe that our existing cash resources and government and other collaborative funding commitments will be sufficient to continue our planned operations into the second 2020. not may not Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three Fair Value of Financial Instruments and Concentration of Credit Risk Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from three five In February 2016, No. 2016 02, Leases 2016 02 2016 02 not 12 12 2016 02 January 1, 2019; no 12 6 Impairment of Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Accrued Expenses As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not third Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. The weighted average number of common share equivalents which were excluded from the computation of diluted loss per share, totaled 11,157 193 December 31, 2019 2018, 7 December 31, 2019 In July 2017, 2017 11, (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception 2017 11” 260, 480, 815, 2017 11 2017 11 January 1, 2019; no Revenue Recognition In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 606. five 2014 09 January 1, 2018 2018 2014 09 no Grant revenue – We receive payments from government entities under non-refundable grants in support of our vaccine development programs. We record revenue associated with these grants when the reimbursable costs are incurred and we have complied with all conditions necessary to receive the grant funds. Research collaborations – We are pursuing a strategy of co-developing or licensing our technology for specific vaccine development approaches and/or disease indications. We have entered into multiple collaborative research and development agreements and have received third 2014 09 Research and Development Expense Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of (i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to third Patent Costs Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense. Period - to - Period Comparisons Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not Income Taxes We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than not Stock-Based Compensation We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the award at the grant date. Stock-based compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Stock-based compensation cost for stock options or warrants is estimated at the grant date based on each instrument’s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note 7 In May 2017, 2017 09, Scope of Modification Accounting 2017 09” 718, 2017 09 1 2 718 2017 09 January 1, 2018; no In June 2018, 2018 07, Improvements to Nonemployee Share-Based Payment Accounting 2018 07 718 2018 07 January 1, 2019; no Other Recent Accounting Pronouncements Except as discussed above, there have been no not |
Note 3 - Property and Equipment
Note 3 - Property and Equipment | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Property, Plant and Equipment Disclosure [Text Block] | 5. Property and equipment as shown on the accompanying Condensed Consolidated Balance Sheets is composed of the following as of March 31, 2020 December 31, 2019: March 31, 2020 December 31, 2019 Laboratory equipment $ 534,577 $ 534,577 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 11,736 Total property and equipment 661,918 661,918 Accumulated depreciation and amortization (652,306 ) (651,312 ) Property and equipment, net $ 9,612 $ 10,606 | 3. Property and equipment as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2019 2018: 2019 2018 Laboratory equipment $ 534,577 $ 530,306 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 28,685 Total property and equipment 661,918 674,596 Accumulated depreciation and amortization (651,312 ) (663,246 ) Property and equipment, net $ 10,606 $ 11,350 Depreciation expense was $8,350 $19,801 December 31, 2019 2018, |
Note 4 - Accrued Expenses
Note 4 - Accrued Expenses | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 6. Accrued expenses as shown on the accompanying Condensed Consolidated Balance Sheets is composed of the following as of March 31, 2020 December 31, 2019: March 31, 2020 December 31, 2019 Accrued management salaries $ 1,418,797 $ 1,323,483 Accrued directors’ fees 436,920 409,219 Other accrued expenses 61,708 118,338 Total accrued expenses $ 1,917,425 $ 1,851,040 | 4. Accrued Expenses Accrued expenses as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2019 2018: 2019 2018 Accrued management salaries $ 1,323,483 $ 924,509 Accrued directors’ fees 409,219 295,670 Other accrued expenses 118,338 18,373 Total accrued expenses $ 1,851,040 $ 1,238,552 |
Note 5 - Notes Payable
Note 5 - Notes Payable | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Debt Disclosure [Text Block] | 7. On February 28, 2018, five $50,000. 5%, $8,964 2020 $12,487 2021, $13,126 2022, $2,252 2023. three March 31, 2020 2019 $485 $621, | 5 . Notes Payable On February 28, 2018, five $50,000. 5%, second $12,500 2020, 2021 2022, $2,243 2023. $2,097 $2,083 December 31, 2019 2018, On December 27, 2018, two $250,000. December 31, 2018. February 2019, 7 |
Note 6 - Commitments
Note 6 - Commitments | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Commitments Disclosure [Text Block] | 8. Lease Agreement We lease approximately 8,400 December 31, 2022. three March 31, 2020 2019 $41,539 $40,316, $124,616 2020, $171,213 2021 $176,356 2022, may ninety Other Commitments In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of March 31, 2020, $539,000 2020. | 6 . Commitments Lease Agreement We lease approximately 8,400 December 31, 2022. December 31, 2019 2018 $161,673 $156,939, $166,155 2020, $171,213 2021 $176,356 2022, may ninety Other Commitments In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of December 31, 2019, $294,000 2020. |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Preferred Stock [Text Block] | 9. Preferred Stock Summary 10,000,000 $.01 may one March 31, 2020 December 31, 2019. $1,000 three March 31, 2020 March 31, 2020 December 31, 2019 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series H Convertible Preferred Stock - - 1,686 1,156,338 Series I Convertible Preferred Stock - - 700 700,000 Series J Convertible Preferred Stock 300 300,000 - - Total 400 $ 376,095 2,486 $ 1,932,433 Series B Preferred Stock -- no not March 31, 2020, 100 $350,000 no three March 31, 2020. Series H Preferred Stock – no not three March 31, 2020, 1,686 9,393,937 March 31, 2020, no Series I Preferred Stock – no not three March 31, 2020, 700 4,087,412 March 31, 2020, no Series J Preferred Stock – January 24, 2020, 300 $300,000. no not $2.00 80% ten may, three March 31, 2020, no 300 March 31, 2020. Common Stock Reverse Stock Split – January 3, 2020, January 21, 2020, one two thousand As discussed under “Preferred Stock” above, during the three March 31, 2020, 13,481,349 During the three March 31, 2020, 10,417 $6,000 Stock Options During the three March 31, 2020, no April 2019 January 2020, March 31, 2020 no three March 31, 2020. Stock Purchase Warrants The following table summarizes our stock purchase warrants outstanding as of March 31, 2020: Expiration Date Exercise Price Number of Warrants Series G September 2021 $ 25,440 48 Series H December 2021 1.15 217,392 Series I Aug-Dec 2024 15,000 48 All of the outstanding warrants contain anti-dilution and price adjustment provisions, which may, no April 30, 2019 January 21, 2020 Stock-Based Compensation Expense Stock-based compensation expense related to our stock option plans was $- 0 $26,652 three March 31, 2020 2019, March 31, 2020, no Additionally, during the three March 31, 2020 2019 $6,000 $126,572, | 7 . Stockholders’ Equity Preferred Stock Summary 10,000,000 $.01 may one December 31, 2019 2018. $1,000 December 31, 2019 2018 December 31, 2019 December 31, 2018 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series C Convertible Preferred Stock - - 2,150 705,238 Series E Convertible Preferred Stock - - 1,200 1,190,000 Series H Convertible Preferred Stock 1,686 1,156,338 - - Series I Convertible Preferred Stock 700 700,000 - - Total 2,486 $ 1,932,433 3,450 $ 1,971,333 Series B Convertible Preferred Stock – $1,000 no not December 31, 2019, 100 $350,000 no December 31, 2019 2018. Series C Convertible Preferred Stock – $1,000 no not 2018, 420 28 January February 2019, 587 39 February 2019, 1,563 Series D Convertible Preferred Stock – May 2017, 1,000 $1,000 $980,000. no not 2018, 67 Series E Convertible Preferred Stock – March 2018, 600 $1,000 $590,000. September 2018, 600 $600,000. no not February 2019, 1,200 Series F Preferred Stock – February 2019, 2,763 no not 2019, 507 191 July 2019, 2,256 Series G Preferred Stock – February 2019, 1,000 $1.0 three no not first February 2019, 500 $250,000 5 $250,000. second third April June 2019, 500 $500,000. July 2019, 1,000 Series H Preferred Stock – July 2019, 3,257 no not $15,000 80% ten may, 2019, 1,570 296,160 Series I Preferred Stock – July 2019, 700 $700,000. no not $15,000 80% ten may, 2019, no Common Stock Reverse Stock Split – April 15, 2019, April 30, 2019, one five hundred During 2019 2018 296,390 95 During 2019, 3,224 $24,000 2018, 17 $513,500, $314,419 2018. $199,080 December 31, 2018 2019 Stock Option s We have a stock-based incentive plan pursuant to which our Board of Directors may may not 110% ten three There were no December 31, 2019. April 2019 January 2020, December 31, 2019 2018 We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows: 2019 2018 Weighted average risk-free interest rates N/A 2.79 % Expected dividend yield N/A 0.0 % Expected life of option (yrs) N/A 7.0 Expected volatility N/A 71.34 % Total employee and director stock-based compensation expense recognized in the consolidated statement of operations for the years ended December 31, 2019 2018 $104,420 $155,304, $43,801 $41,998 $60,619 $113,306 December 31, 2019, $99,975 Stock Purchase Warrants The following table summarizes our warrants outstanding as of December 31, 2019: Expiration Date Exercise Price Number of Warrants Series G September 2021 $ 25,440 48 Series H December 2021 1.15 217,392 Series I Aug-Dec 2024 15,000 48 During 2019, 48 $15,000 All of the outstanding warrants contain anti-dilution and price adjustment provisions, which may, no April 30, 2019 January 21, 2020 11 |
Note 8 - Retirement Plan
Note 8 - Retirement Plan | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 8 . Retirement Plan We participate in a multi-employer defined contribution retirement plan (the “401k third 401k December 31, 2019 2018 401k $25,876 $23,354, |
Note 9 - Income Taxes
Note 9 - Income Taxes | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Income Tax Disclosure [Text Block] | 10. Because of our historically significant net operating losses, we have not 382 | 9 . Income Taxes At December 31, 2019, $65.7 $62.6 2020 2037. $1.1 2022 2039 No 382 may may Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities included the following at December 31, 2019 2018: 2019 2018 Deferred tax assets: Net operating loss carryforward $ 15,328,336 $ 16,681,908 Research and development tax credit carryforward 1,122,536 1,063,877 Stock-based compensation expense 1,877,284 1,808,509 Accrued salaries and directors’ fees 450,503 315,246 Depreciation 8,571 8,414 Total deferred tax assets 18,787,230 19,879,954 Deferred tax liabilities - - Net deferred tax assets 18,787,230 19,879,954 Valuation allowance (18,787,230 ) (19,879,954 ) Net deferred tax asset after reduction for valuation allowance $ -0- $ -0- We have established a full valuation allowance equal to the amount of our net deferred tax assets due to uncertainties with respect to our ability to generate sufficient taxable income to realize these assets in the future. A reconciliation of the income tax benefit on losses at the U.S. federal statutory rate to the reported income tax expense is as follows: 2019 2018 U.S. federal statutory rate applied to pretax loss $ (497,833 ) $ (537,620 ) Permanent differences 278 549 Research and development credits (47,053 ) (53,884 ) Change in valuation allowance 544,308 590,955 Reported income tax expense $ -0- $ -0- |
Note 10 - Grants and Collaborat
Note 10 - Grants and Collaboration Revenue | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Government Grants and Contracts [Text Block] | 11. We receive payments from government entities under grants from the National Institute of Allergy and Infectious Diseases (NIAID) and from the U.S. Department of Defense in support of our vaccine research and development efforts. We record revenue associated with government grants as the reimbursable costs are incurred. During the three March 31, 2020 2019, $654,021 $354,319, March 31, 2020, $606,944 2020. During the three March 31, 2020 2019, $61,956 $9,913, third | 10 . Grants and Collaboration Revenue We receive payments from government entities under our grants from the National Institute of Allergy and Infectious Diseases (NIAID) and from the U.S. Department of Defense in support of our vaccine research and development efforts. We record revenue associated with government grants as the reimbursable costs are incurred. During 2019 2018, $983,682 $934,575, December 31, 2019, $1,605,505 2020. During 2019 2018, $192,214 $28,628, third |
Note 11 - Subsequent Events
Note 11 - Subsequent Events | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Subsequent Events [Text Block] | 12. CARES Act Paycheck Protection Program Loan On April 17, 2020, $170,200 one April 17, 2022. No 180 November 17, 2020, $9,578.16 may may | 1 1 . Subsequent Event s Reverse Stock Split Following approval by our shareholders at a meeting held on January 3, 2020, January 21, 2020, one two thousand Conversions of Preferred Stock to Common Stock During the first 2020 March 23), 1,686 700 13,481,349 Issuance of Series J P referred Stock On January 24, 2020, 300 $300,000. Our Series J Preferred Stock has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including a liquidation preference equal to the stated value per share. The Series J Preferred Stock has no not $2.00 80% ten may, |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts | 12 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
SEC Schedule, 12-09, Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | GEOVAX LABS, INC. SCHEDULE II – VALUATION AND QUALIFYING ACCOUNTS For t he Years Ended December 3 1, 201 9 and 201 8 Additions (Reductions) Description Balance at Beginning Of Period Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End Of Period Reserve Deducted in the Balance Sheet From the Asset to Which it Applies: Allowance for Deferred Tax Assets Year ended December 31, 2019 $ 19,879,954 $ (1,092,724 ) $ -0- $ -0- $ 18,787,230 Year ended December 31, 2018 19,123,959 755,995 -0- -0- 19,879,954 |
Note 1 - Description of Busin_2
Note 1 - Description of Business | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Nature of Operations [Text Block] | 1. GeoVax Labs, Inc. (“GeoVax” or the “Company”), is a clinical-stage biotechnology company developing human vaccines and immunotherapies against infectious diseases and cancers using a novel patented Modified Vaccinia Ankara (MVA) Virus-Like Particle (VLP) vaccine platform (GV-MVA-VLP TM Our current development programs are focused on preventive vaccines against novel coronavirus (COVID- 19 Our corporate strategy is to improve the health of patients worldwide by advancing our vaccine platform, using its unique capabilities to design and develop an array of products addressing unmet medical needs in the areas of infectious diseases and oncology. We intend to advance products through to human clinical testing, and to seek partnership or licensing arrangements for commercialization. We also leverage third Certain of our vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and human clinical trials. We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, may one GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in the metropolitan Atlanta, Georgia area. | 1. Description of Business GeoVax Labs, Inc. (“GeoVax” or the “Company”), is a clinical-stage biotechnology company developing human vaccines and immunotherapies against infectious diseases and cancers using a novel patented Modified Vaccinia Ankara Virus-Like Particle (MVA-VLP) vaccine platform. In this platform, MVA, a large virus capable of carrying several vaccine antigens, expresses proteins that assemble into highly effective VLP immunogens in the person being vaccinated. The MVA-VLP virus replicates to high titers in approved avian cells for manufacturing but cannot productively replicate in mammalian cells. Therefore, the MVA-VLP derived vaccines elicit durable immune responses in the host similar to a live attenuated virus, while providing the safety characteristics of a replication-defective vector. Our current development programs are focused on preventive vaccines against coronavirus (COVID- 19 Our corporate strategy is to improve health to patients worldwide by advancing our vaccine platform, using its unique capabilities to design and develop an array of products addressing unmet medical needs in the areas of infectious diseases and oncology. We aim to advance products through to human clinical testing, and to seek partnership or licensing arrangements for achieving regulatory approval and commercialization. We also leverage third Certain of our vaccine development activities have been, and continue to be, financially supported by the U.S. government. This support has been both in the form of research grants and contracts awarded directly to us, as well as indirect support for the conduct of preclinical animal studies and human clinical trials. We operate in a highly regulated and competitive environment. The manufacturing and marketing of pharmaceutical products require approval from, and are subject to, ongoing oversight by the Food and Drug Administration (FDA) in the United States, by the European Medicines Agency (EMA) in the European Union, and by comparable agencies in other countries. Obtaining approval for a new pharmaceutical product is never certain, may one GeoVax is incorporated under the laws of the State of Delaware and our principal offices are located in the metropolitan Atlanta, Georgia area. |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Basis of Accounting [Text Block] | 2. The accompanying condensed consolidated financial statements at March 31, 2020 three March 31, 2020 2019 not 10 December 31, 2019. not As described in Note 9, April 30, 2019, one five hundred January 21, 2020, one two thousand Our financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve We believe that our existing cash resources together with our government and collaborative funding commitments, will be sufficient to continue our planned operations into the third 2020. not may not |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Policies and Recent Accounting Pronouncements | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Significant Accounting Policies [Text Block] | 3. We disclosed in Note 2 10 December 31, 2019 no 10 There have been no three March 31, 2020, 10 December 31, 2019, | 2. Principles of Consolidation The accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiaries, GeoVax, Inc. and Immutak Oncology, Inc. All intercompany transactions have been eliminated in consolidation. Basis of Presentation As described in Notes 7 11, April 30, 2019, one five hundred January 21, 2020, one two thousand The accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve We believe that our existing cash resources and government and other collaborative funding commitments will be sufficient to continue our planned operations into the second 2020. not may not Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three Fair Value of Financial Instruments and Concentration of Credit Risk Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values. Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from three five In February 2016, No. 2016 02, Leases 2016 02 2016 02 not 12 12 2016 02 January 1, 2019; no 12 6 Impairment of Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Accrued Expenses As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not third Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. The weighted average number of common share equivalents which were excluded from the computation of diluted loss per share, totaled 11,157 193 December 31, 2019 2018, 7 December 31, 2019 In July 2017, 2017 11, (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception 2017 11” 260, 480, 815, 2017 11 2017 11 January 1, 2019; no Revenue Recognition In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 606. five 2014 09 January 1, 2018 2018 2014 09 no Grant revenue – We receive payments from government entities under non-refundable grants in support of our vaccine development programs. We record revenue associated with these grants when the reimbursable costs are incurred and we have complied with all conditions necessary to receive the grant funds. Research collaborations – We are pursuing a strategy of co-developing or licensing our technology for specific vaccine development approaches and/or disease indications. We have entered into multiple collaborative research and development agreements and have received third 2014 09 Research and Development Expense Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of (i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to third Patent Costs Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense. Period - to - Period Comparisons Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not Income Taxes We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than not Stock-Based Compensation We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the award at the grant date. Stock-based compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Stock-based compensation cost for stock options or warrants is estimated at the grant date based on each instrument’s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note 7 In May 2017, 2017 09, Scope of Modification Accounting 2017 09” 718, 2017 09 1 2 718 2017 09 January 1, 2018; no In June 2018, 2018 07, Improvements to Nonemployee Share-Based Payment Accounting 2018 07 718 2018 07 January 1, 2019; no Other Recent Accounting Pronouncements Except as discussed above, there have been no not |
Note 4 - Basic and Diluted Loss
Note 4 - Basic and Diluted Loss Per Common Share | 3 Months Ended |
Mar. 31, 2020 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 4. Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. The weighted average number of common share equivalents which were excluded from the computation of diluted loss per share, totaled 970,571 295 March 31, 2020 2019, 9 March 31, 2020 |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Property, Plant and Equipment Disclosure [Text Block] | 5. Property and equipment as shown on the accompanying Condensed Consolidated Balance Sheets is composed of the following as of March 31, 2020 December 31, 2019: March 31, 2020 December 31, 2019 Laboratory equipment $ 534,577 $ 534,577 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 11,736 Total property and equipment 661,918 661,918 Accumulated depreciation and amortization (652,306 ) (651,312 ) Property and equipment, net $ 9,612 $ 10,606 | 3. Property and equipment as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2019 2018: 2019 2018 Laboratory equipment $ 534,577 $ 530,306 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 28,685 Total property and equipment 661,918 674,596 Accumulated depreciation and amortization (651,312 ) (663,246 ) Property and equipment, net $ 10,606 $ 11,350 Depreciation expense was $8,350 $19,801 December 31, 2019 2018, |
Note 6 - Accrued Expenses
Note 6 - Accrued Expenses | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 6. Accrued expenses as shown on the accompanying Condensed Consolidated Balance Sheets is composed of the following as of March 31, 2020 December 31, 2019: March 31, 2020 December 31, 2019 Accrued management salaries $ 1,418,797 $ 1,323,483 Accrued directors’ fees 436,920 409,219 Other accrued expenses 61,708 118,338 Total accrued expenses $ 1,917,425 $ 1,851,040 | 4. Accrued Expenses Accrued expenses as shown on the accompanying Consolidated Balance Sheets is composed of the following as of December 31, 2019 2018: 2019 2018 Accrued management salaries $ 1,323,483 $ 924,509 Accrued directors’ fees 409,219 295,670 Other accrued expenses 118,338 18,373 Total accrued expenses $ 1,851,040 $ 1,238,552 |
Note 7 - Notes Payable
Note 7 - Notes Payable | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Debt Disclosure [Text Block] | 7. On February 28, 2018, five $50,000. 5%, $8,964 2020 $12,487 2021, $13,126 2022, $2,252 2023. three March 31, 2020 2019 $485 $621, | 5 . Notes Payable On February 28, 2018, five $50,000. 5%, second $12,500 2020, 2021 2022, $2,243 2023. $2,097 $2,083 December 31, 2019 2018, On December 27, 2018, two $250,000. December 31, 2018. February 2019, 7 |
Note 8 - Commitments
Note 8 - Commitments | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Commitments Disclosure [Text Block] | 8. Lease Agreement We lease approximately 8,400 December 31, 2022. three March 31, 2020 2019 $41,539 $40,316, $124,616 2020, $171,213 2021 $176,356 2022, may ninety Other Commitments In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of March 31, 2020, $539,000 2020. | 6 . Commitments Lease Agreement We lease approximately 8,400 December 31, 2022. December 31, 2019 2018 $161,673 $156,939, $166,155 2020, $171,213 2021 $176,356 2022, may ninety Other Commitments In the normal course of business, we enter into various firm purchase commitments related to production and testing of our vaccine, conduct of research studies, and other activities. As of December 31, 2019, $294,000 2020. |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Preferred Stock [Text Block] | 9. Preferred Stock Summary 10,000,000 $.01 may one March 31, 2020 December 31, 2019. $1,000 three March 31, 2020 March 31, 2020 December 31, 2019 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series H Convertible Preferred Stock - - 1,686 1,156,338 Series I Convertible Preferred Stock - - 700 700,000 Series J Convertible Preferred Stock 300 300,000 - - Total 400 $ 376,095 2,486 $ 1,932,433 Series B Preferred Stock -- no not March 31, 2020, 100 $350,000 no three March 31, 2020. Series H Preferred Stock – no not three March 31, 2020, 1,686 9,393,937 March 31, 2020, no Series I Preferred Stock – no not three March 31, 2020, 700 4,087,412 March 31, 2020, no Series J Preferred Stock – January 24, 2020, 300 $300,000. no not $2.00 80% ten may, three March 31, 2020, no 300 March 31, 2020. Common Stock Reverse Stock Split – January 3, 2020, January 21, 2020, one two thousand As discussed under “Preferred Stock” above, during the three March 31, 2020, 13,481,349 During the three March 31, 2020, 10,417 $6,000 Stock Options During the three March 31, 2020, no April 2019 January 2020, March 31, 2020 no three March 31, 2020. Stock Purchase Warrants The following table summarizes our stock purchase warrants outstanding as of March 31, 2020: Expiration Date Exercise Price Number of Warrants Series G September 2021 $ 25,440 48 Series H December 2021 1.15 217,392 Series I Aug-Dec 2024 15,000 48 All of the outstanding warrants contain anti-dilution and price adjustment provisions, which may, no April 30, 2019 January 21, 2020 Stock-Based Compensation Expense Stock-based compensation expense related to our stock option plans was $- 0 $26,652 three March 31, 2020 2019, March 31, 2020, no Additionally, during the three March 31, 2020 2019 $6,000 $126,572, | 7 . Stockholders’ Equity Preferred Stock Summary 10,000,000 $.01 may one December 31, 2019 2018. $1,000 December 31, 2019 2018 December 31, 2019 December 31, 2018 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series C Convertible Preferred Stock - - 2,150 705,238 Series E Convertible Preferred Stock - - 1,200 1,190,000 Series H Convertible Preferred Stock 1,686 1,156,338 - - Series I Convertible Preferred Stock 700 700,000 - - Total 2,486 $ 1,932,433 3,450 $ 1,971,333 Series B Convertible Preferred Stock – $1,000 no not December 31, 2019, 100 $350,000 no December 31, 2019 2018. Series C Convertible Preferred Stock – $1,000 no not 2018, 420 28 January February 2019, 587 39 February 2019, 1,563 Series D Convertible Preferred Stock – May 2017, 1,000 $1,000 $980,000. no not 2018, 67 Series E Convertible Preferred Stock – March 2018, 600 $1,000 $590,000. September 2018, 600 $600,000. no not February 2019, 1,200 Series F Preferred Stock – February 2019, 2,763 no not 2019, 507 191 July 2019, 2,256 Series G Preferred Stock – February 2019, 1,000 $1.0 three no not first February 2019, 500 $250,000 5 $250,000. second third April June 2019, 500 $500,000. July 2019, 1,000 Series H Preferred Stock – July 2019, 3,257 no not $15,000 80% ten may, 2019, 1,570 296,160 Series I Preferred Stock – July 2019, 700 $700,000. no not $15,000 80% ten may, 2019, no Common Stock Reverse Stock Split – April 15, 2019, April 30, 2019, one five hundred During 2019 2018 296,390 95 During 2019, 3,224 $24,000 2018, 17 $513,500, $314,419 2018. $199,080 December 31, 2018 2019 Stock Option s We have a stock-based incentive plan pursuant to which our Board of Directors may may not 110% ten three There were no December 31, 2019. April 2019 January 2020, December 31, 2019 2018 We use the Black-Scholes model for determining the grant date fair value of our stock option grants. This model utilizes certain information, such as the interest rate on a risk-free security with a term generally equivalent to the expected life of the option being valued and requires certain other assumptions, such as the expected amount of time an option will be outstanding until it is exercised or expired, to calculate the fair value of stock options granted. The significant assumptions we used in our fair value calculations were as follows: 2019 2018 Weighted average risk-free interest rates N/A 2.79 % Expected dividend yield N/A 0.0 % Expected life of option (yrs) N/A 7.0 Expected volatility N/A 71.34 % Total employee and director stock-based compensation expense recognized in the consolidated statement of operations for the years ended December 31, 2019 2018 $104,420 $155,304, $43,801 $41,998 $60,619 $113,306 December 31, 2019, $99,975 Stock Purchase Warrants The following table summarizes our warrants outstanding as of December 31, 2019: Expiration Date Exercise Price Number of Warrants Series G September 2021 $ 25,440 48 Series H December 2021 1.15 217,392 Series I Aug-Dec 2024 15,000 48 During 2019, 48 $15,000 All of the outstanding warrants contain anti-dilution and price adjustment provisions, which may, no April 30, 2019 January 21, 2020 11 |
Note 10 - Income Taxes
Note 10 - Income Taxes | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Income Tax Disclosure [Text Block] | 10. Because of our historically significant net operating losses, we have not 382 | 9 . Income Taxes At December 31, 2019, $65.7 $62.6 2020 2037. $1.1 2022 2039 No 382 may may Deferred income taxes reflect the net effect of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred tax assets and liabilities included the following at December 31, 2019 2018: 2019 2018 Deferred tax assets: Net operating loss carryforward $ 15,328,336 $ 16,681,908 Research and development tax credit carryforward 1,122,536 1,063,877 Stock-based compensation expense 1,877,284 1,808,509 Accrued salaries and directors’ fees 450,503 315,246 Depreciation 8,571 8,414 Total deferred tax assets 18,787,230 19,879,954 Deferred tax liabilities - - Net deferred tax assets 18,787,230 19,879,954 Valuation allowance (18,787,230 ) (19,879,954 ) Net deferred tax asset after reduction for valuation allowance $ -0- $ -0- We have established a full valuation allowance equal to the amount of our net deferred tax assets due to uncertainties with respect to our ability to generate sufficient taxable income to realize these assets in the future. A reconciliation of the income tax benefit on losses at the U.S. federal statutory rate to the reported income tax expense is as follows: 2019 2018 U.S. federal statutory rate applied to pretax loss $ (497,833 ) $ (537,620 ) Permanent differences 278 549 Research and development credits (47,053 ) (53,884 ) Change in valuation allowance 544,308 590,955 Reported income tax expense $ -0- $ -0- |
Note 11 - Grants and Collaborat
Note 11 - Grants and Collaboration Revenue | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Government Grants and Contracts [Text Block] | 11. We receive payments from government entities under grants from the National Institute of Allergy and Infectious Diseases (NIAID) and from the U.S. Department of Defense in support of our vaccine research and development efforts. We record revenue associated with government grants as the reimbursable costs are incurred. During the three March 31, 2020 2019, $654,021 $354,319, March 31, 2020, $606,944 2020. During the three March 31, 2020 2019, $61,956 $9,913, third | 10 . Grants and Collaboration Revenue We receive payments from government entities under our grants from the National Institute of Allergy and Infectious Diseases (NIAID) and from the U.S. Department of Defense in support of our vaccine research and development efforts. We record revenue associated with government grants as the reimbursable costs are incurred. During 2019 2018, $983,682 $934,575, December 31, 2019, $1,605,505 2020. During 2019 2018, $192,214 $28,628, third |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes to Financial Statements | ||
Subsequent Events [Text Block] | 12. CARES Act Paycheck Protection Program Loan On April 17, 2020, $170,200 one April 17, 2022. No 180 November 17, 2020, $9,578.16 may may | 1 1 . Subsequent Event s Reverse Stock Split Following approval by our shareholders at a meeting held on January 3, 2020, January 21, 2020, one two thousand Conversions of Preferred Stock to Common Stock During the first 2020 March 23), 1,686 700 13,481,349 Issuance of Series J P referred Stock On January 24, 2020, 300 $300,000. Our Series J Preferred Stock has rights and privileges as set forth in the pertinent Certificate of Designation of Preferences, Rights and Limitations, including a liquidation preference equal to the stated value per share. The Series J Preferred Stock has no not $2.00 80% ten may, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the accounts of GeoVax Labs, Inc. together with those of our wholly-owned subsidiaries, GeoVax, Inc. and Immutak Oncology, Inc. All intercompany transactions have been eliminated in consolidation. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation As described in Notes 7 11, April 30, 2019, one five hundred January 21, 2020, one two thousand The accompanying consolidated financial statements have been prepared assuming that we will continue as a going concern, which contemplates realization of assets and the satisfaction of liabilities in the normal course of business for the twelve We believe that our existing cash resources and government and other collaborative funding commitments will be sufficient to continue our planned operations into the second 2020. not may not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles (GAAP) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents We consider all highly liquid investments with a maturity of three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments and Concentration of Credit Risk Financial instruments that subject us to concentration of credit risk consist primarily of cash and cash equivalents, which are maintained by a high credit quality financial institution. The carrying values reported in the balance sheets for cash and cash equivalents approximate fair values. |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are stated at cost, less accumulated depreciation and amortization. Expenditures for maintenance and repairs are charged to operations as incurred, while additions and improvements are capitalized. We calculate depreciation using the straight-line method over the estimated useful lives of the assets which range from three five In February 2016, No. 2016 02, Leases 2016 02 2016 02 not 12 12 2016 02 January 1, 2019; no 12 6 |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of Long-Lived Assets We review long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not |
Accrued Liabilities [Policy Text Block] | Accrued Expenses As part of the process of preparing our financial statements, we estimate expenses that we believe we have incurred, but have not third |
Earnings Per Share, Policy [Policy Text Block] | Net Loss Per Share Basic and diluted loss per common share are computed based on the weighted average number of common shares outstanding. Common share equivalents consist of common shares issuable upon conversion of convertible preferred stock, and upon exercise of stock options and stock purchase warrants. All common share equivalents are excluded from the computation of diluted loss per share since the effect would be anti-dilutive. The weighted average number of common share equivalents which were excluded from the computation of diluted loss per share, totaled 11,157 193 December 31, 2019 2018, 7 December 31, 2019 In July 2017, 2017 11, (Part I) Accounting for Certain Financial Instruments with Down Round Features, (Part II) Replacement of the Indefinite Deferral for Mandatorily Redeemable Financial Instruments of Certain Nonpublic Entities and Certain Mandatorily Redeemable Noncontrolling Interests with a Scope Exception 2017 11” 260, 480, 815, 2017 11 2017 11 January 1, 2019; no |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition In May 2014, 2014 09, Revenue from Contracts with Customers 2014 09 606. five 2014 09 January 1, 2018 2018 2014 09 no Grant revenue – We receive payments from government entities under non-refundable grants in support of our vaccine development programs. We record revenue associated with these grants when the reimbursable costs are incurred and we have complied with all conditions necessary to receive the grant funds. Research collaborations – We are pursuing a strategy of co-developing or licensing our technology for specific vaccine development approaches and/or disease indications. We have entered into multiple collaborative research and development agreements and have received third 2014 09 |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Expense Research and development expense primarily consists of costs incurred in the discovery, development, testing and manufacturing of our product candidates. These expenses consist primarily of (i) salaries, benefits, and stock-based compensation for personnel, (ii) laboratory supplies and facility-related expenses to conduct development, (iii) fees paid to third |
Intangible Assets, Finite-Lived, Policy [Policy Text Block] | Patent Costs Our expenditures relating to obtaining and protecting patents are charged to expense when incurred and are included in general and administrative expense. |
Reclassification, Comparability Adjustment [Policy Text Block] | Period - to - Period Comparisons Our operating results are expected to fluctuate for the foreseeable future. Therefore, period-to-period comparisons should not |
Income Tax, Policy [Policy Text Block] | Income Taxes We account for income taxes using the liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted rates in effect for the year in which temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance unless, in the opinion of management, it is more likely than not |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation We account for stock-based transactions in which the Company receives services from employees, directors or others in exchange for equity instruments based on the fair value of the award at the grant date. Stock-based compensation cost for awards of common stock is estimated based on the price of the underlying common stock on the date of issuance. Stock-based compensation cost for stock options or warrants is estimated at the grant date based on each instrument’s fair value as calculated by the Black-Scholes option pricing model. We recognize stock-based compensation cost as expense ratably on a straight-line basis over the requisite service period for the award. See Note 7 In May 2017, 2017 09, Scope of Modification Accounting 2017 09” 718, 2017 09 1 2 718 2017 09 January 1, 2018; no In June 2018, 2018 07, Improvements to Nonemployee Share-Based Payment Accounting 2018 07 718 2018 07 January 1, 2019; no |
New Accounting Pronouncements, Policy [Policy Text Block] | Other Recent Accounting Pronouncements Except as discussed above, there have been no not |
Note 3 - Property and Equipme_2
Note 3 - Property and Equipment (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes Tables | ||
Property, Plant and Equipment [Table Text Block] | March 31, 2020 December 31, 2019 Laboratory equipment $ 534,577 $ 534,577 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 11,736 Total property and equipment 661,918 661,918 Accumulated depreciation and amortization (652,306 ) (651,312 ) Property and equipment, net $ 9,612 $ 10,606 | 2019 2018 Laboratory equipment $ 534,577 $ 530,306 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 28,685 Total property and equipment 661,918 674,596 Accumulated depreciation and amortization (651,312 ) (663,246 ) Property and equipment, net $ 10,606 $ 11,350 |
Note 4 - Accrued Expenses (Tabl
Note 4 - Accrued Expenses (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes Tables | ||
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2020 December 31, 2019 Accrued management salaries $ 1,418,797 $ 1,323,483 Accrued directors’ fees 436,920 409,219 Other accrued expenses 61,708 118,338 Total accrued expenses $ 1,917,425 $ 1,851,040 | 2019 2018 Accrued management salaries $ 1,323,483 $ 924,509 Accrued directors’ fees 409,219 295,670 Other accrued expenses 118,338 18,373 Total accrued expenses $ 1,851,040 $ 1,238,552 |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes Tables | ||
Schedule of Preferred Stock [Table Text Block] | March 31, 2020 December 31, 2019 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series H Convertible Preferred Stock - - 1,686 1,156,338 Series I Convertible Preferred Stock - - 700 700,000 Series J Convertible Preferred Stock 300 300,000 - - Total 400 $ 376,095 2,486 $ 1,932,433 | December 31, 2019 December 31, 2018 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series C Convertible Preferred Stock - - 2,150 705,238 Series E Convertible Preferred Stock - - 1,200 1,190,000 Series H Convertible Preferred Stock 1,686 1,156,338 - - Series I Convertible Preferred Stock 700 700,000 - - Total 2,486 $ 1,932,433 3,450 $ 1,971,333 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2019 2018 Weighted average risk-free interest rates N/A 2.79 % Expected dividend yield N/A 0.0 % Expected life of option (yrs) N/A 7.0 Expected volatility N/A 71.34 % | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Expiration Date Exercise Price Number of Warrants Series G September 2021 $ 25,440 48 Series H December 2021 1.15 217,392 Series I Aug-Dec 2024 15,000 48 | Expiration Date Exercise Price Number of Warrants Series G September 2021 $ 25,440 48 Series H December 2021 1.15 217,392 Series I Aug-Dec 2024 15,000 48 |
Note 9 - Income Taxes (Tables)
Note 9 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2019 2018 Deferred tax assets: Net operating loss carryforward $ 15,328,336 $ 16,681,908 Research and development tax credit carryforward 1,122,536 1,063,877 Stock-based compensation expense 1,877,284 1,808,509 Accrued salaries and directors’ fees 450,503 315,246 Depreciation 8,571 8,414 Total deferred tax assets 18,787,230 19,879,954 Deferred tax liabilities - - Net deferred tax assets 18,787,230 19,879,954 Valuation allowance (18,787,230 ) (19,879,954 ) Net deferred tax asset after reduction for valuation allowance $ -0- $ -0- |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2019 2018 U.S. federal statutory rate applied to pretax loss $ (497,833 ) $ (537,620 ) Permanent differences 278 549 Research and development credits (47,053 ) (53,884 ) Change in valuation allowance 544,308 590,955 Reported income tax expense $ -0- $ -0- |
Schedule II - Valuation and Q_2
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Summary of Valuation Allowance [Table Text Block] | Additions (Reductions) Description Balance at Beginning Of Period Charged to Costs and Expenses Charged to Other Accounts Deductions Balance at End Of Period Reserve Deducted in the Balance Sheet From the Asset to Which it Applies: Allowance for Deferred Tax Assets Year ended December 31, 2019 $ 19,879,954 $ (1,092,724 ) $ -0- $ -0- $ 18,787,230 Year ended December 31, 2018 19,123,959 755,995 -0- -0- 19,879,954 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes Tables | ||
Property, Plant and Equipment [Table Text Block] | March 31, 2020 December 31, 2019 Laboratory equipment $ 534,577 $ 534,577 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 11,736 Total property and equipment 661,918 661,918 Accumulated depreciation and amortization (652,306 ) (651,312 ) Property and equipment, net $ 9,612 $ 10,606 | 2019 2018 Laboratory equipment $ 534,577 $ 530,306 Leasehold improvements 115,605 115,605 Other furniture, fixtures & equipment 11,736 28,685 Total property and equipment 661,918 674,596 Accumulated depreciation and amortization (651,312 ) (663,246 ) Property and equipment, net $ 10,606 $ 11,350 |
Note 6 - Accrued Expenses (Tabl
Note 6 - Accrued Expenses (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes Tables | ||
Schedule of Accrued Liabilities [Table Text Block] | March 31, 2020 December 31, 2019 Accrued management salaries $ 1,418,797 $ 1,323,483 Accrued directors’ fees 436,920 409,219 Other accrued expenses 61,708 118,338 Total accrued expenses $ 1,917,425 $ 1,851,040 | 2019 2018 Accrued management salaries $ 1,323,483 $ 924,509 Accrued directors’ fees 409,219 295,670 Other accrued expenses 118,338 18,373 Total accrued expenses $ 1,851,040 $ 1,238,552 |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Tables) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2020 | Dec. 31, 2019 | |
Notes Tables | ||
Schedule of Preferred Stock [Table Text Block] | March 31, 2020 December 31, 2019 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series H Convertible Preferred Stock - - 1,686 1,156,338 Series I Convertible Preferred Stock - - 700 700,000 Series J Convertible Preferred Stock 300 300,000 - - Total 400 $ 376,095 2,486 $ 1,932,433 | December 31, 2019 December 31, 2018 Carrying Carrying Shares Value Shares Value Series B Convertible Preferred Stock 100 $ 76,095 100 $ 76,095 Series C Convertible Preferred Stock - - 2,150 705,238 Series E Convertible Preferred Stock - - 1,200 1,190,000 Series H Convertible Preferred Stock 1,686 1,156,338 - - Series I Convertible Preferred Stock 700 700,000 - - Total 2,486 $ 1,932,433 3,450 $ 1,971,333 |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Expiration Date Exercise Price Number of Warrants Series G September 2021 $ 25,440 48 Series H December 2021 1.15 217,392 Series I Aug-Dec 2024 15,000 48 | Expiration Date Exercise Price Number of Warrants Series G September 2021 $ 25,440 48 Series H December 2021 1.15 217,392 Series I Aug-Dec 2024 15,000 48 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) | Jan. 21, 2020 | Apr. 30, 2019 | Mar. 31, 2020shares | Mar. 31, 2019shares | Dec. 31, 2019shares | Dec. 31, 2018shares |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 970,571 | 295 | 11,157 | 193 | ||
Minimum [Member] | ||||||
Property, Plant and Equipment, Useful Life (Year) | 3 years | |||||
Maximum [Member] | ||||||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |||||
Reverse Stock Split [Member] | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2,000 | 500 | ||||
Reverse Stock Split [Member] | Subsequent Event [Member] | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2,000 |
Note 3 - Property and Equipme_3
Note 3 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 8,350 | $ 19,801 |
Note 3 - Property and Equipme_4
Note 3 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Property and equipment, gross | $ 661,918 | $ 661,918 | $ 674,596 |
Accumulated depreciation and amortization | (652,306) | (651,312) | (663,246) |
Property and equipment, net | 9,612 | 10,606 | 11,350 |
Laboratory Equipment [Member] | |||
Property and equipment, gross | 534,577 | 534,577 | 530,306 |
Leasehold Improvements [Member] | |||
Property and equipment, gross | 115,605 | 115,605 | 115,605 |
Other Furniture Fixtures And Equipment [Member] | |||
Property and equipment, gross | $ 11,736 | $ 11,736 | $ 28,685 |
Note 4 - Accrued Expenses - Sch
Note 4 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Accrued management salaries | $ 1,418,797 | $ 1,323,483 | $ 924,509 |
Accrued directors’ fees | 436,920 | 409,219 | 295,670 |
Other accrued expenses | 61,708 | 118,338 | 18,373 |
Total accrued expenses | $ 1,917,425 | $ 1,851,040 | $ 1,238,552 |
Note 5 - Notes Payable (Details
Note 5 - Notes Payable (Details Textual) - USD ($) | Feb. 28, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 27, 2018 |
Proceeds from Notes Payable, Total | $ 300,000 | |||||
Interest Expense, Total | $ 1,142 | $ 1,128 | 4,495 | 2,590 | ||
Term Notes [Member] | ||||||
Debt Instrument, Face Amount | $ 250,000 | |||||
Senior Notes [Member] | ||||||
Debt Instrument, Term (Year) | 5 years | |||||
Proceeds from Notes Payable, Total | $ 50,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | |||||
Long-term Debt, Maturities, Repayments of Principal in Next Twelve Months | 12,500 | |||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 2,252 | 2,243 | ||||
Interest Expense, Total | $ 485 | $ 621 | $ 2,097 | $ 2,083 |
Note 6 - Commitments (Details T
Note 6 - Commitments (Details Textual) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020USD ($)ft² | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($)ft² | Dec. 31, 2018USD ($) | |
Area of Real Estate Property (Square Foot) | ft² | 8,400 | 8,400 | ||
Operating Leases, Rent Expense, Total | $ 41,539 | $ 40,316 | $ 161,673 | $ 156,939 |
Lessee, Operating Lease, Liability, Payments, Due Next Twelve Months | 166,155 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 171,213 | 171,213 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 176,356 | 176,356 | ||
Unrecorded Unconditional Purchase Obligation, Total | $ 539,000 | $ 294,000 |
Note 7 - Stockholders' Equity_2
Note 7 - Stockholders' Equity (Details Textual) - USD ($) | Jul. 24, 2019 | Jul. 16, 2019 | Jun. 19, 2019 | Apr. 26, 2019 | Feb. 26, 2019 | Feb. 25, 2019 | Feb. 18, 2019 | Jul. 31, 2019 | Feb. 28, 2019 | Sep. 30, 2018 | Mar. 31, 2018 | May 31, 2017 | Feb. 28, 2019 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.01 | $ 0.01 | $ 0.01 | ||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 400 | 2,486 | 3,450 | ||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 296,390 | 95 | |||||||||||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 10,417 | 3,224 | 17 | ||||||||||||||
Stock Issued During Period, Value, Issued for Services | $ 6,000 | $ 24,000 | $ 513,500 | ||||||||||||||
Stock Issued During Period, Value Expensed During the Period, Issued for Services | 6,000 | $ 126,572 | 314,419 | ||||||||||||||
Prepaid Expense, Value of Stock Issued for Services During Period | $ 199,080 | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 110.00% | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | ||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 0 | ||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 | $ 99,975 | |||||||||||||||
Series I Warrants [Member] | |||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 48 | ||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 15,000 | $ 15,000 | |||||||||||||||
Share-based Payment Arrangement, Option [Member] | |||||||||||||||||
Share-based Payment Arrangement, Expense | $ 0 | $ 26,652 | $ 104,420 | 155,304 | |||||||||||||
Share-based Payment Arrangement, Option [Member] | Research and Development Expense [Member] | |||||||||||||||||
Share-based Payment Arrangement, Expense | 43,801 | 41,998 | |||||||||||||||
Share-based Payment Arrangement, Option [Member] | General and Administrative Expense [Member] | |||||||||||||||||
Share-based Payment Arrangement, Expense | $ 60,619 | $ 113,306 | |||||||||||||||
Series G Convertible Preferred Stock and Related Warrants [Member] | |||||||||||||||||
Convertible Preferred Stock and Related Warrants, Authorized (in shares) | 1,000 | ||||||||||||||||
Proceeds from Issuance of Convertible Preferred Stock and Related Warrants, Maximum | $ 500,000 | $ 250,000 | $ 1,000,000 | ||||||||||||||
Convertible Preferred Stock and Related Warrants Issued (in shares) | 500 | 500 | 500 | ||||||||||||||
Conversion of Series C Preferred Stock Into Common Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 587 | 587 | 420 | ||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 39 | 39 | 28 | ||||||||||||||
Conversion of Series C Preferred Stock Into Series F Preferred Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 1,563 | 1,563 | |||||||||||||||
Conversion of Series D Preferred Stock Into Common Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 67 | ||||||||||||||||
Conversion of Series E Preferred Stock Into Series F Preferred Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 1,200 | 1,200 | |||||||||||||||
Conversion of Series F Preferred Stock Into Common Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 180 | 507 | |||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 20 | 191 | |||||||||||||||
Conversion from Series F Preferred Stock to Series H Preferred Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 2,256 | ||||||||||||||||
Conversion of Series H Preferred Stock Into Common Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 1,686 | 1,570 | |||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 9,393,937 | 296,160 | |||||||||||||||
Conversion of Series I Preferred Stock [Member] | |||||||||||||||||
Conversion of Stock, Shares Converted (in shares) | 0 | ||||||||||||||||
Series B Convertible Preferred Stock [Member] | |||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 1,000 | $ 1,000 | |||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 100 | 100 | 100 | ||||||||||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ 350,000 | $ 350,000 | |||||||||||||||
Series D Convertible Preferred Stock [Member] | |||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 1,000 | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,000 | ||||||||||||||||
Proceeds From Issuance Of Convertible Preferred Stock, Net of Issuance Cost | $ 980,000 | ||||||||||||||||
Series E Convertible Preferred Stock [Member] | |||||||||||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 1,000 | ||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 1,200 | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 600 | 600 | |||||||||||||||
Proceeds From Issuance Of Convertible Preferred Stock, Net of Issuance Cost | $ 600,000 | $ 590,000 | |||||||||||||||
Series F Convertible Preferred Stock [Member] | |||||||||||||||||
Number of Series C and Series E Preferred Stock Exchanged for Series F Convertible Preferred Stock (in shares) | 2,763 | ||||||||||||||||
Series G Convertible Preferred Stock [Member] | |||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 1,000 | ||||||||||||||||
Series H Convertible Preferred Stock [Member] | |||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 1,686 | |||||||||||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ 15,000 | ||||||||||||||||
Conversion of Stock, Shares Issued (in shares) | 3,257 | ||||||||||||||||
Series I Convertible Preferred Stock [Member] | |||||||||||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 700 | |||||||||||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ 15,000 | ||||||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 700 | ||||||||||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ 700,000 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Preferred Stock Summary (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred stock, outstanding (in shares) | 400 | 2,486 | 3,450 |
Preferred Stock | $ 376,095 | $ 1,932,433 | $ 1,971,333 |
Series B Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 100 | 100 | 100 |
Preferred Stock | $ 76,095 | $ 76,095 | $ 76,095 |
Series C Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 2,150 | ||
Preferred Stock | $ 705,238 | ||
Series E Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 1,200 | ||
Preferred Stock | $ 1,190,000 | ||
Series H Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 0 | 1,686 | |
Preferred Stock | $ 1,156,338 | ||
Series I Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 0 | 700 | |
Preferred Stock | $ 700,000 |
Note 7 - Stockholders' Equity_3
Note 7 - Stockholders' Equity - Significant Assumption Used in Fair Value Calculation (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Weighted average risk-free interest rates | 2.79% |
Expected dividend yield | 0.00% |
Expected life of option (Year) | 7 years |
Expected volatility | 71.34% |
Note 7 - Stockholders' Equity_4
Note 7 - Stockholders' Equity - Summary of Warrants (Details) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Series G Warrants [Member] | ||
Exercise price (in dollars per share) | $ 25,440 | $ 25,440 |
Number of warrants (in shares) | 48 | 48 |
Series H Warrants [Member] | ||
Exercise price (in dollars per share) | $ 1.15 | $ 1.15 |
Number of warrants (in shares) | 217,392 | 217,392 |
Series I Warrants [Member] | ||
Exercise price (in dollars per share) | $ 15,000 | $ 15,000 |
Number of warrants (in shares) | 48 | 48 |
Note 8 - Retirement Plan (Detai
Note 8 - Retirement Plan (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 25,876 | $ 23,354 |
Note 9 - Income Taxes (Details
Note 9 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Income Taxes Paid | $ 0 | $ 0 | $ 0 |
Research Tax Credit Carryforward [Member] | |||
Tax Credit Carryforward, Amount | 1,100 | ||
Domestic Tax Authority [Member] | |||
Operating Loss Carryforwards, Total | 65,700 | ||
Operating Loss Carryforwards, Subject to Expiration | $ 62,600 |
Note 9 - Income Taxes - Deferre
Note 9 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2019 | Dec. 31, 2018 |
Net operating loss carryforward | $ 15,328,336 | $ 16,681,908 |
Research and development tax credit carryforward | 1,122,536 | 1,063,877 |
Stock-based compensation expense | 1,877,284 | 1,808,509 |
Accrued salaries and directors’ fees | 450,503 | 315,246 |
Depreciation | 8,571 | 8,414 |
Total deferred tax assets | 18,787,230 | 19,879,954 |
Deferred tax liabilities | ||
Net deferred tax assets | 18,787,230 | 19,879,954 |
Valuation allowance | (18,787,230) | (19,879,954) |
Net deferred tax asset after reduction for valuation allowance | $ 0 | $ 0 |
Note 9 - Income Taxes - Reconci
Note 9 - Income Taxes - Reconciliation of Income Tax Benefit (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
U.S. federal statutory rate applied to pretax loss | $ (497,833) | $ (537,620) |
Permanent differences | 278 | 549 |
Research and development credits | (47,053) | (53,884) |
Change in valuation allowance | 544,308 | 590,955 |
Reported income tax expense | $ 0 | $ 0 |
Note 10 - Grants and Collabor_2
Note 10 - Grants and Collaboration Revenue (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 715,977 | $ 364,232 | $ 1,175,896 | $ 963,203 |
Unused Grant Funds | 606,944 | 1,605,505 | ||
NIH Grants [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 654,021 | 354,319 | 983,682 | 934,575 |
Research Agreements [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 61,956 | $ 9,913 | $ 192,214 | $ 28,628 |
Note 11 - Subsequent Events (De
Note 11 - Subsequent Events (Details Textual) | Jan. 24, 2020USD ($)$ / sharesshares | Jan. 21, 2020 | Apr. 30, 2019 | Mar. 31, 2020shares | Mar. 23, 2020shares | Dec. 31, 2019shares | Dec. 31, 2018shares |
Conversion of Stock, Shares Issued (in shares) | 296,390 | 95 | |||||
Series J Convertible Preferred Stock [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 300 | ||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 300,000 | ||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ / shares | $ 2 | ||||||
Conversion of Series H Preferred Stock Into Common Stock [Member] | |||||||
Conversion of Stock, Shares Converted (in shares) | 1,686 | 1,570 | |||||
Conversion of Stock, Shares Issued (in shares) | 9,393,937 | 296,160 | |||||
Conversion of Series I Preferred Stock Into Common Stock [Member] | |||||||
Conversion of Stock, Shares Converted (in shares) | 700 | ||||||
Conversion of Stock, Shares Issued (in shares) | 4,087,412 | ||||||
Conversion of Series H and Series I Preferred Stock Into Common Stock [Member] | |||||||
Conversion of Stock, Shares Issued (in shares) | 13,481,349 | ||||||
Subsequent Event [Member] | Series J Convertible Preferred Stock [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 300 | ||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 300,000 | ||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ / shares | $ 2 | ||||||
Subsequent Event [Member] | Conversion of Series H Preferred Stock Into Common Stock [Member] | |||||||
Conversion of Stock, Shares Converted (in shares) | 1,686 | ||||||
Subsequent Event [Member] | Conversion of Series I Preferred Stock Into Common Stock [Member] | |||||||
Conversion of Stock, Shares Converted (in shares) | 700 | ||||||
Subsequent Event [Member] | Conversion of Series H and Series I Preferred Stock Into Common Stock [Member] | |||||||
Conversion of Stock, Shares Issued (in shares) | 13,481,349 | ||||||
Reverse Stock Split [Member] | |||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2,000 | 500 | |||||
Reverse Stock Split [Member] | Subsequent Event [Member] | |||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2,000 |
Schedule II - Valuation and Q_3
Schedule II - Valuation and Qualifying Accounts (Details) - SEC Schedule, 12-09, Valuation Allowance, Deferred Tax Asset [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
Balance at Beginning Of Period | $ 19,879,954 | $ 19,123,959 |
Additions Charged to Costs and Expenses | (1,092,724) | 755,995 |
Additions Charged to Other Accounts | 0 | 0 |
Deductions | 0 | 0 |
Balance at End Of Period | $ 18,787,230 | $ 19,879,954 |
Note 2 - Basis of Presentation
Note 2 - Basis of Presentation (Details Textual) | Jan. 21, 2020 | Apr. 30, 2019 |
Reverse Stock Split [Member] | ||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2,000 | 500 |
Note 4 - Basic and Diluted Lo_2
Note 4 - Basic and Diluted Loss Per Common Share (Details Textual) - shares | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 970,571 | 295 | 11,157 | 193 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Property and equipment, gross | $ 661,918 | $ 661,918 | $ 674,596 |
Accumulated depreciation and amortization | (652,306) | (651,312) | (663,246) |
Property and equipment, net | 9,612 | 10,606 | 11,350 |
Laboratory Equipment [Member] | |||
Property and equipment, gross | 534,577 | 534,577 | 530,306 |
Leasehold Improvements [Member] | |||
Property and equipment, gross | 115,605 | 115,605 | 115,605 |
Other Furniture Fixtures And Equipment [Member] | |||
Property and equipment, gross | $ 11,736 | $ 11,736 | $ 28,685 |
Note 6 - Accrued Expenses - Sch
Note 6 - Accrued Expenses - Schedule of Accrued Expenses (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Accrued management salaries | $ 1,418,797 | $ 1,323,483 | $ 924,509 |
Accrued directors’ fees | 436,920 | 409,219 | 295,670 |
Other accrued expenses | 61,708 | 118,338 | 18,373 |
Total accrued expenses | $ 1,917,425 | $ 1,851,040 | $ 1,238,552 |
Note 7 - Notes Payable (Details
Note 7 - Notes Payable (Details Textual) - USD ($) | Feb. 28, 2018 | Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 |
Proceeds from Notes Payable, Total | $ 300,000 | ||||
Interest Expense, Total | $ 1,142 | $ 1,128 | 4,495 | 2,590 | |
Senior Notes [Member] | |||||
Proceeds from Notes Payable, Total | $ 50,000 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||||
Long-Term Debt, Maturity, Remainder of Fiscal Year | 8,964 | ||||
Long-Term Debt, Maturity, Year Two | 12,487 | ||||
Long-Term Debt, Maturity, Year Three | 13,126 | ||||
Long-term Debt, Maturities, Repayments of Principal in Year Four | 2,252 | 2,243 | |||
Interest Expense, Total | $ 485 | $ 621 | $ 2,097 | $ 2,083 |
Note 8 - Commitments (Details T
Note 8 - Commitments (Details Textual) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020USD ($)ft² | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($)ft² | Dec. 31, 2018USD ($) | |
Area of Real Estate Property (Square Foot) | ft² | 8,400 | 8,400 | ||
Operating Leases, Rent Expense, Total | $ 41,539 | $ 40,316 | $ 161,673 | $ 156,939 |
Lessee, Operating Lease, Liability, to be Paid, Remainder of Fiscal Year | 124,616 | |||
Lessee, Operating Lease, Liability, Payments, Due Year Two | 171,213 | 171,213 | ||
Lessee, Operating Lease, Liability, Payments, Due Year Three | 176,356 | 176,356 | ||
Unrecorded Unconditional Purchase Obligation, Total | $ 539,000 | $ 294,000 |
Note 9 - Stockholders' Equity_2
Note 9 - Stockholders' Equity (Details Textual) | Jan. 24, 2020USD ($)$ / sharesshares | Jan. 21, 2020 | Jul. 24, 2019USD ($)$ / sharesshares | Jul. 16, 2019$ / sharesshares | Apr. 30, 2019 | Mar. 31, 2020USD ($)$ / sharesshares | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($)$ / sharesshares | Dec. 31, 2018USD ($)$ / sharesshares |
Preferred Stock, Shares Authorized (in shares) | 10,000,000 | 10,000,000 | 10,000,000 | ||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 0.01 | $ 0.01 | $ 0.01 | ||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 400 | 2,486 | 3,450 | ||||||
Conversion of Stock, Shares Issued (in shares) | 296,390 | 95 | |||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | 10,417 | 3,224 | 17 | ||||||
Stock Issued During Period, Value, Issued for Services | $ | $ 6,000 | $ 24,000 | $ 513,500 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ | 0 | 99,975 | |||||||
Stock Issued During Period, Value Expensed During the Period, Issued for Services | $ | 6,000 | $ 126,572 | 314,419 | ||||||
Share-based Payment Arrangement, Option [Member] | |||||||||
Share-based Payment Arrangement, Expense | $ | $ 0 | $ 26,652 | $ 104,420 | $ 155,304 | |||||
Reverse Stock Split [Member] | |||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 2,000 | 500 | |||||||
Conversion of Series H Preferred Stock Into Common Stock [Member] | |||||||||
Conversion of Stock, Shares Converted (in shares) | 1,686 | 1,570 | |||||||
Conversion of Stock, Shares Issued (in shares) | 9,393,937 | 296,160 | |||||||
Conversion of Series I Preferred Stock Into Common Stock [Member] | |||||||||
Conversion of Stock, Shares Converted (in shares) | 700 | ||||||||
Conversion of Stock, Shares Issued (in shares) | 4,087,412 | ||||||||
Conversion of Series H and Series I Preferred Stock Into Common Stock [Member] | |||||||||
Conversion of Stock, Shares Issued (in shares) | 13,481,349 | ||||||||
Series B Convertible Preferred Stock [Member] | |||||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 1,000 | $ 1,000 | |||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 100 | 100 | 100 | ||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ / shares | $ 350,000 | $ 350,000 | |||||||
Series H Convertible Preferred Stock [Member] | |||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 1,686 | |||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ / shares | $ 15,000 | ||||||||
Conversion of Stock, Shares Issued (in shares) | 3,257 | ||||||||
Series I Convertible Preferred Stock [Member] | |||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 0 | 700 | |||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ / shares | $ 15,000 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 700 | ||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 700,000 | ||||||||
Series J Convertible Preferred Stock [Member] | |||||||||
Preferred Stock, Shares Outstanding, Ending Balance (in shares) | 300 | ||||||||
Convertible Preferred Stock, Conversion Price1 (in dollars per share) | $ / shares | $ 2 | ||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 300 | ||||||||
Proceeds from Issuance of Preferred Stock and Preference Stock | $ | $ 300,000 |
Note 9 - Stockholders' Equity -
Note 9 - Stockholders' Equity - Preferred Stock Summary (Details) - USD ($) | Mar. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2018 |
Preferred stock, outstanding (in shares) | 400 | 2,486 | 3,450 |
Preferred Stock | $ 376,095 | $ 1,932,433 | $ 1,971,333 |
Series B Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 100 | 100 | 100 |
Preferred Stock | $ 76,095 | $ 76,095 | $ 76,095 |
Series H Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 0 | 1,686 | |
Preferred Stock | $ 1,156,338 | ||
Series I Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 0 | 700 | |
Preferred Stock | $ 700,000 | ||
Series J Convertible Preferred Stock [Member] | |||
Preferred stock, outstanding (in shares) | 300 | ||
Preferred Stock | $ 300,000 |
Note 9 - Stockholders' Equity_3
Note 9 - Stockholders' Equity - Summary of Warrants (Details) - $ / shares | Mar. 31, 2020 | Dec. 31, 2019 |
Series G Warrants [Member] | ||
Exercise price (in dollars per share) | $ 25,440 | $ 25,440 |
Number of warrants (in shares) | 48 | 48 |
Series H Warrants [Member] | ||
Exercise price (in dollars per share) | $ 1.15 | $ 1.15 |
Number of warrants (in shares) | 217,392 | 217,392 |
Series I Warrants [Member] | ||
Exercise price (in dollars per share) | $ 15,000 | $ 15,000 |
Number of warrants (in shares) | 48 | 48 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | |
Income Taxes Paid | $ 0 | $ 0 | $ 0 |
Note 11 - Grants and Collabor_2
Note 11 - Grants and Collaboration Revenue (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2020 | Mar. 31, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 715,977 | $ 364,232 | $ 1,175,896 | $ 963,203 |
Unused Grant Funds | 606,944 | 1,605,505 | ||
NIH Grants [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | 654,021 | 354,319 | 983,682 | 934,575 |
Research Agreements [Member] | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 61,956 | $ 9,913 | $ 192,214 | $ 28,628 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - Subsequent Event [Member] | Apr. 17, 2020USD ($) |
Proceeds From Paycheck Protection Program Under CARES Act | $ 170,200 |
Paycheck Protection Program Loan [Member] | |
Debt Instrument, Periodic Payment, Total | $ 9,578.16 |