2016 Q1 Form 10-Q Financial Statement
#000114420416099233 Filed on May 05, 2016
Income Statement
| Concept | 2016 Q1 | 2015 Q4 | 2015 Q1 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | ||
| Cost Of Revenue | $0.00 | -$3.240M | $0.00 |
| YoY Change | |||
| Gross Profit | $0.00 | -$2.090M | $0.00 |
| YoY Change | -100.0% | ||
| Gross Profit Margin | |||
| Selling, General & Admin | $2.178M | $1.870M | $2.707M |
| YoY Change | -19.55% | 8.72% | 34.5% |
| % of Gross Profit | |||
| Research & Development | $150.0K | $470.0K | $565.8K |
| YoY Change | -73.49% | -162.67% | 33.92% |
| % of Gross Profit | |||
| Depreciation & Amortization | $75.73K | $20.00K | $64.25K |
| YoY Change | 17.87% | -88.89% | -48.64% |
| % of Gross Profit | |||
| Operating Expenses | $2.328M | $5.710M | $3.273M |
| YoY Change | -28.88% | 482.65% | 34.4% |
| Operating Profit | -$2.328M | -$7.800M | -$3.273M |
| YoY Change | -28.88% | 695.92% | 35.74% |
| Interest Expense | -$120.0K | $1.784K | |
| YoY Change | 138.18% | ||
| % of Operating Profit | |||
| Other Income/Expense, Net | $0.00 | -$1.415K | |
| YoY Change | -100.0% | ||
| Pretax Income | -$2.328M | -$2.590M | -$3.274M |
| YoY Change | -28.91% | -22.22% | 35.77% |
| Income Tax | $0.00 | $0.00 | $0.00 |
| % Of Pretax Income | |||
| Net Earnings | -$2.328M | -$4.960M | -$3.335M |
| YoY Change | -30.21% | -14.63% | 38.31% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | |||
| Diluted Earnings Per Share | -$11.65M | -$26.11M | -$23.86M |
| COMMON SHARES | |||
| Basic Shares Outstanding | 38.82M shares | 25.40M shares | |
| Diluted Shares Outstanding |
Balance Sheet
| Concept | 2016 Q1 | 2015 Q4 | 2015 Q1 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $2.900M | $3.700M | $9.700M |
| YoY Change | -70.1% | -56.47% | -41.57% |
| Cash & Equivalents | $2.883M | $3.716M | $9.728M |
| Short-Term Investments | |||
| Other Short-Term Assets | $0.00 | $110.7K | $300.0K |
| YoY Change | -100.0% | -70.0% | |
| Inventory | $0.00 | $94.63K | |
| Prepaid Expenses | $227.9K | $193.3K | $263.8K |
| Receivables | $1.280M | ||
| Other Receivables | $0.00 | ||
| Total Short-Term Assets | $3.386M | $4.295M | $11.37M |
| YoY Change | -70.22% | -52.73% | -35.78% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $146.0K | $171.6K | $381.6K |
| YoY Change | -61.75% | 25.51% | 193.66% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | |||
| YoY Change | |||
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $76.34K | $76.34K | $176.6K |
| YoY Change | -56.76% | 58.4% | -96.12% |
| Total Long-Term Assets | $1.714M | $1.948M | $2.436M |
| YoY Change | -29.62% | -27.25% | -47.98% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $3.386M | $4.295M | $11.37M |
| Total Long-Term Assets | $1.714M | $1.948M | $2.436M |
| Total Assets | $5.100M | $6.243M | $13.80M |
| YoY Change | -63.05% | -46.93% | -38.33% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $429.1K | $814.4K | $966.2K |
| YoY Change | -55.59% | 58.75% | |
| Accrued Expenses | $169.0K | $463.7K | $1.118M |
| YoY Change | -84.88% | 82.46% | 24.21% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $100.0K |
| YoY Change | -100.0% | ||
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $1.327M | $2.502M | $3.487M |
| YoY Change | -61.94% | 12.98% | 222.22% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Other Long-Term Liabilities | $0.00 | $0.00 | |
| YoY Change | |||
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $1.327M | $2.502M | $3.487M |
| Total Long-Term Liabilities | $0.00 | $0.00 | $0.00 |
| Total Liabilities | $1.300M | $2.500M | $3.519M |
| YoY Change | -63.06% | 10.33% | 219.91% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$53.26M | -$50.93M | -$38.51M |
| YoY Change | 38.31% | 44.81% | 67.96% |
| Common Stock | $38.82K | $32.66K | $27.22K |
| YoY Change | 42.64% | 32.95% | 11.41% |
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $3.773M | $3.742M | $10.28M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $5.100M | $6.243M | $13.80M |
| YoY Change | -63.05% | -46.93% | -38.33% |
Cashflow Statement
| Concept | 2016 Q1 | 2015 Q4 | 2015 Q1 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$2.328M | -$4.960M | -$3.335M |
| YoY Change | -30.21% | -14.63% | 38.31% |
| Depreciation, Depletion And Amortization | $75.73K | $20.00K | $64.25K |
| YoY Change | 17.87% | -88.89% | -48.64% |
| Cash From Operating Activities | -$2.995M | -$3.950M | -$2.999M |
| YoY Change | -0.13% | 45.22% | 15.33% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$10.00K | -$20.00K | -$70.00K |
| YoY Change | -85.71% | -60.0% | -30.0% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | $0.00 | -$160.0K | |
| YoY Change | |||
| Cash From Investing Activities | -$5.020K | -$180.0K | -$66.04K |
| YoY Change | -92.4% | 260.0% | -33.97% |
| FINANCING ACTIVITIES | |||
| Cash Dividend Paid | |||
| YoY Change | |||
| Common Stock Issuance & Retirement, Net | $2.167M | $4.292M | |
| YoY Change | -49.53% | ||
| Debt Paid & Issued, Net | |||
| YoY Change | |||
| Cash From Financing Activities | 2.170M | 10.00K | 4.290M |
| YoY Change | -49.42% | -110.0% | -66.9% |
| NET CHANGE | |||
| Cash From Operating Activities | -$2.995M | -3.950M | -$2.999M |
| Cash From Investing Activities | -$5.020K | -180.0K | -$66.04K |
| Cash From Financing Activities | 2.170M | 10.00K | 4.290M |
| Net Change In Cash | -$3.000M | -4.120M | -$3.065M |
| YoY Change | -2.12% | 43.55% | -129.87% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$2.995M | -$3.950M | -$2.999M |
| Capital Expenditures | -$10.00K | -$20.00K | -$70.00K |
| Free Cash Flow | -$2.985M | -$3.930M | -$2.929M |
| YoY Change | 1.92% | 47.19% | 17.15% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2015Q1 | us-gaap |
Gross Profit
GrossProfit
|
0 | USD |
| CY2016Q1 | us-gaap |
Gross Profit
GrossProfit
|
0 | USD |
| CY2016Q1 | us-gaap |
Selling Expense
SellingExpense
|
0 | USD |
| CY2015Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-3274087 | USD |
| CY2016Q1 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
|
-2327540 | USD |
| CY2015Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
| CY2016Q1 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
0 | USD |
| CY2015Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-3335291 | USD |
| CY2016Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2327540 | USD |
| CY2015Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.13 | |
| CY2016Q1 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.07 | |
| CY2015Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
24916867 | shares |
| CY2016Q1 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
31511623 | shares |
| CY2015Q1 | us-gaap |
Selling Expense
SellingExpense
|
345845 | USD |
| CY2015Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
565801 | USD |
| CY2016Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
149971 | USD |
| CY2015Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2361026 | USD |
| CY2016Q1 | us-gaap |
General And Administrative Expense
GeneralAndAdministrativeExpense
|
2177569 | USD |
| CY2015Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
3272672 | USD |
| CY2016Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
2327540 | USD |
| CY2015Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-3272672 | USD |
| CY2016Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2327540 | USD |
| CY2016Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
0 | USD |
| CY2015Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-1415 | USD |
| CY2016Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
0 | USD |
| CY2015Q1 | us-gaap |
Sales Revenue Net
SalesRevenueNet
|
0 | USD |
| CY2016Q1 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-2327540 | USD |
| CY2015Q1 | us-gaap |
Income Loss From Continuing Operations
IncomeLossFromContinuingOperations
|
-3274087 | USD |
| CY2016Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
0 | USD |
| CY2015Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Attributable To Reporting Entity
IncomeLossFromDiscontinuedOperationsNetOfTaxAttributableToReportingEntity
|
-61204 | USD |
| CY2016Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.07 | |
| CY2015Q1 | us-gaap |
Income Loss From Continuing Operations Per Basic And Diluted Share
IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
|
-0.13 | |
| CY2016Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
|
0 | |
| CY2015Q1 | us-gaap |
Income Loss From Discontinued Operations Net Of Tax Per Basic And Diluted Share
IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
|
0 | |
| CY2016Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
-385396 | USD |
| CY2015Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
456792 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
|
-434401 | USD |
| CY2015Q1 | atos |
Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
|
4744 | USD |
| CY2016Q1 | atos |
Increase Decrease In Deferred Rent
IncreaseDecreaseInDeferredRent
|
0 | USD |
| CY2015Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-115981 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-294675 | USD |
| CY2015Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
686 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Current Liabilities
IncreaseDecreaseInOtherCurrentLiabilities
|
-60281 | USD |
| CY2015Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2998663 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2994755 | USD |
| CY2014Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
8500718 | USD |
| CY2015Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
9728369 | USD |
| CY2015Q1 | us-gaap |
Interest Paid
InterestPaid
|
1415 | USD |
| CY2016Q1 | us-gaap |
Interest Paid
InterestPaid
|
0 | USD |
| CY2015Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
148869 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
192457 | USD |
| CY2015Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
64249 | USD |
| CY2016Q1 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
75729 | USD |
| CY2015Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
82389 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
0 | USD |
| CY2015Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
33345 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
|
34643 | USD |
| CY2015Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
453163 | USD |
| CY2015Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
3715895 | USD |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
2882657 | USD |
| CY2016Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
2166537 | USD |
| CY2015Q1 | us-gaap |
Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
|
4292349 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
2166537 | USD |
| CY2015Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
|
4292349 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-5020 | USD |
| CY2015Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-66035 | USD |
| CY2016Q1 | us-gaap |
Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
|
5020 | USD |
| CY2015Q1 | us-gaap |
Payments To Acquire Furniture And Fixtures
PaymentsToAcquireFurnitureAndFixtures
|
28110 | USD |
| CY2016Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
-833238 | USD |
| CY2015Q1 | us-gaap |
Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
|
1227651 | USD |
| CY2016Q1 | us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
0 | USD |
| CY2015Q1 | us-gaap |
Cash Provided By Used In Operating Activities Discontinued Operations
CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations
|
-493005 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-2994755 | USD |
| CY2015Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
|
-2505658 | USD |
| CY2016Q1 | us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
0 | USD |
| CY2015Q1 | us-gaap |
Cash Provided By Used In Investing Activities Discontinued Operations
CashProvidedByUsedInInvestingActivitiesDiscontinuedOperations
|
-37925 | USD |
| CY2016Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-5020 | USD |
| CY2015Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
|
-28110 | USD |
| CY2015Q4 | atos |
Sale Of Stock Percentage
SaleOfStockPercentage
|
0.81 | pure |
| CY2015Q4 | us-gaap |
Sale Of Stock Percentage Of Ownership After Transaction
SaleOfStockPercentageOfOwnershipAfterTransaction
|
0.19 | pure |
| CY2015Q4 | us-gaap |
Sale Of Stock Consideration Received On Transaction
SaleOfStockConsiderationReceivedOnTransaction
|
50000 | USD |
| CY2015Q4 | atos |
Monthly Earnout Payments Percentage Of Gross Revenue
MonthlyEarnoutPaymentsPercentageOfGrossRevenue
|
0.06 | pure |
| CY2015Q4 | atos |
Maximum Gross Revenue For Monthly Earnout Payments
MaximumGrossRevenueForMonthlyEarnoutPayments
|
10000000 | USD |
| CY2015Q4 | atos |
Right To Sell Preferred Stock After Fours Years
RightToSellPreferredStockAfterFoursYears
|
4000000 | USD |
| CY2016Q1 | atos |
Working Capital
WorkingCapital
|
2100000 | USD |
| CY2016Q1 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
227936 | USD |
| CY2016Q1 | us-gaap |
Deposit Assets
DepositAssets
|
39218 | USD |
| CY2016Q1 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
75975 | USD |
| CY2016Q1 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
206337 | USD |
| CY2016Q1 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
83539 | USD |
| CY2015Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
114287 | USD |
| CY2015Q4 | us-gaap |
Finite Lived Patents Gross
FiniteLivedPatentsGross
|
1630000 | USD |
| CY2015Q4 | us-gaap |
Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
|
200000 | USD |
| CY2015Q4 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
113540 | USD |
| CY2015Q4 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
242975 | USD |
| CY2015Q4 | us-gaap |
Prepaid Expense Current
PrepaidExpenseCurrent
|
193293 | USD |
| CY2016Q1 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
112743 | USD |
| CY2015Q4 | us-gaap |
Prepaid Insurance
PrepaidInsurance
|
104954 | USD |
| CY2015Q4 | us-gaap |
Deposit Assets
DepositAssets
|
39218 | USD |
| CY2015Q4 | us-gaap |
Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
|
49121 | USD |
| CY2015Q4 | us-gaap |
Machinery And Equipment Gross
MachineryAndEquipmentGross
|
206337 | USD |
| CY2015Q4 | us-gaap |
Leasehold Improvements Gross
LeaseholdImprovementsGross
|
79518 | USD |
| CY2016Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
143906 | USD |
| CY2016Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
145970 | USD |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
171568 | USD |
| CY2016Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
289876 | USD |
| CY2015Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
285855 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Patents Gross
FiniteLivedPatentsGross
|
1630000 | USD |
| CY2016Q1 | us-gaap |
Finite Lived License Agreements Gross
FiniteLivedLicenseAgreementsGross
|
0 | USD |
| CY2016Q1 | us-gaap |
Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
|
113540 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
|
251419 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
1743540 | USD |
| CY2015Q4 | us-gaap |
Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
|
1943540 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
|
132710 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
|
169576 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
|
149623 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
|
149623 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
|
149623 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
|
740966 | USD |
| CY2015Q4 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
1159335 | USD |
| CY2016Q1 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
498623 | USD |
| CY2016Q1 | us-gaap |
Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
|
724934 | USD |
| CY2016Q1 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
110023 | USD |
| CY2015Q4 | us-gaap |
Accrued Payroll Taxes Current
AccruedPayrollTaxesCurrent
|
93811 | USD |
| CY2016Q1 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
116288 | USD |
| CY2015Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
510179 | USD |
| CY2016Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | USD |
| CY2016Q1 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
2632657 | USD |
| CY2015Q4 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
3465895 | USD |
| CY2016Q1 | atos |
Total Shares Authorized
TotalSharesAuthorized
|
85000000 | shares |
| CY2016Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
75000000 | shares |
| CY2014Q2 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
15.00 | |
| CY2014Q2 | atos |
Percentage Of Common Stock Outstanding
PercentageOfCommonStockOutstanding
|
0.020 | pure |
| CY2014Q2 | atos |
Entitled To Receive Worth Of Common Stock
EntitledToReceiveWorthOfCommonStock
|
30.00 | |
| CY2016Q1 | us-gaap |
Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
|
6033426 | shares |
| CY2016Q1 | atos |
Other Research And Development And General And Administration Expenses
OtherResearchAndDevelopmentAndGeneralAndAdministrationExpenses
|
78600 | USD |
| CY2015Q1 | atos |
Other Research And Development And General And Administration Expenses
OtherResearchAndDevelopmentAndGeneralAndAdministrationExpenses
|
149174 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Additional Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfAdditionalSharesAuthorized
|
3999674 | shares |
| CY2016Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
192457 | USD |
| CY2015Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
148869 | USD |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.40 | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
|
1.51 | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
2.51 | |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y25D | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
|
412224 | shares |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3201720 | shares |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
|
0 | USD |
| CY2016Q1 | atos |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeited In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeitedInPeriodTotalIntrinsicValue
|
0 | USD |
| CY2015Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
3613944 | shares |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares |
| CY2016Q1 | atos |
Share Based Compensation Arrangement By Share Based Payment Award Options Granted In Period Total Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantedInPeriodTotalIntrinsicValue
|
0 | USD |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
|
1477401 | shares |
| CY2016Q1 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
1233702 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
|
P2Y5M5D | |
| CY2016Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
0 | USD |
| CY2015Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
0 | USD |
| CY2016Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-110662 | USD |
| CY2015Q1 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
128359 | USD |
| CY2016Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
0 | USD |
| CY2015Q1 | us-gaap |
Amortization Of Financing Costs
AmortizationOfFinancingCosts
|
351961 | USD |
| CY2016Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b>Use of Estimates:</b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> <b> </b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif"> The preparation of financial statements in conformity with GAAP requires management 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 expenses during the reporting period. Actual results could differ from those estimates</div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2016Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
6033426 | shares |
| CY2016Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
9235146 | shares |
| CY2015Q1 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
10387844 | shares |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Intrinsic Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1
|
0 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
1724319 | shares |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
|
3044186 | shares |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P7Y6M22D | |
| CY2016Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y7D | |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
0 | USD |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
|
2.56 | |
| CY2016Q1 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
275000 | USD |
| CY2015Q4 | us-gaap |
Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
|
275000 | USD |
| CY2016Q1 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
0 | USD |
| CY2015Q4 | us-gaap |
Other Assets Current
OtherAssetsCurrent
|
110663 | USD |
| CY2016Q1 | us-gaap |
Assets Current
AssetsCurrent
|
3385593 | USD |
| CY2015Q4 | us-gaap |
Assets Current
AssetsCurrent
|
4294851 | USD |
| CY2016Q1 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1492121 | USD |
| CY2015Q4 | us-gaap |
Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
|
1700565 | USD |
| CY2016Q1 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
76337 | USD |
| CY2015Q4 | us-gaap |
Other Assets Noncurrent
OtherAssetsNoncurrent
|
76337 | USD |
| CY2016Q1 | us-gaap |
Assets
Assets
|
5100021 | USD |
| CY2015Q4 | us-gaap |
Assets
Assets
|
6243321 | USD |
| CY2016Q1 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
429052 | USD |
| CY2015Q4 | us-gaap |
Accounts Payable Current
AccountsPayableCurrent
|
814448 | USD |
| CY2016Q1 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
169001 | USD |
| CY2015Q4 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
463676 | USD |
| CY2016Q1 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
3848 | USD |
| CY2015Q4 | us-gaap |
Other Liabilities Current
OtherLiabilitiesCurrent
|
64128 | USD |
| CY2016Q1 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1326835 | USD |
| CY2015Q4 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
2501587 | USD |
| CY2016Q1 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2015Q4 | us-gaap |
Preferred Stock Value
PreferredStockValue
|
0 | USD |
| CY2016Q1 | us-gaap |
Common Stock Value
CommonStockValue
|
38823 | USD |
| CY2015Q4 | us-gaap |
Common Stock Value
CommonStockValue
|
32657 | USD |
| CY2016Q1 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
56996766 | USD |
| CY2015Q4 | us-gaap |
Additional Paid In Capital
AdditionalPaidInCapital
|
54643940 | USD |
| CY2016Q1 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-53262403 | USD |
| CY2015Q4 | us-gaap |
Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
|
-50934863 | USD |
| CY2016Q1 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3773186 | USD |
| CY2015Q4 | us-gaap |
Stockholders Equity
StockholdersEquity
|
3741734 | USD |
| CY2016Q1 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
5100021 | USD |
| CY2015Q4 | us-gaap |
Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
|
6243321 | USD |
| CY2016Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
-163333 | USD |
| CY2015Q1 | us-gaap |
Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
|
0 | USD |
| CY2016Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2015Q4 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
USD | |
| CY2016Q1 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2015Q4 | us-gaap |
Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
|
0.001 | |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
|
10000000 | shares |
| CY2015Q4 | us-gaap |
Preferred Stock Shares Issued
PreferredStockSharesIssued
|
0 | shares |
| CY2016Q1 | us-gaap |
Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
|
0 | shares |
| CY2015Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2016Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
38823464 | shares |
| CY2015Q4 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
32657257 | shares |
| CY2016Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
3.17 | |
| CY2016Q1 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
190417 | USD |
| CY2016Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
3750 | USD |
| CY2016Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
194167 | USD |
| CY2016Q1 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="center"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>NOTE 1: NATURE OF OPERATIONS</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <b><font style="FONT-SIZE: 10pt"> </font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">Atossa Genetics Inc. (the “Company”) was incorporated on April 30, 2009 in the State of Delaware. The Company was formed to develop and market medical devices, laboratory tests and therapeutics to address breast health conditions. The Company’s fiscal year ends on December 31. </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.25in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">In December 2011, the Company established the National Reference Laboratory for Breast Health, Inc., or NRLBH, as a wholly-owned subsidiary. NRLBH was the Company’s CLIA-certified laboratory which performed the Company’s nipple aspirate fluid, or NAF, cytology test on NAF specimens including those collected with the Company’s Mammary Aspiration Specimen Cytology Test (MASCT) System. The current version of the MASCT System is called the ForeCYTE Breast Aspirator. The NRLBH provides other test services, including pharmacogenomics tests. On December 16, 2015, the Company sold approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 81</font>% of the capital stock of the NRLBH to the NRL Investment Group, LLC, with the Company retaining a <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 19</font>% ownership through preferred stock. The Company received $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">50,000</font> at the time of the sale and the right to receive, commencing December 2016, monthly earn-out payments equal to <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">6</font>% of gross revenue of NRLBH up to $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">10,000,000</font>, and the right to sell its preferred stock after four years for the greater of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">4,000,000</font> or fair market value. The Company has elected to recognize any subsequent gain from the earn-out payments as they are determined realizable.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt"> </font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">As a result of the sale of the laboratory business, the Company is now focusing on development of its pharmaceutical programs.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> |
