2015 Q2 Form 10-K Financial Statement

#000114420415054864 Filed on September 14, 2015

View on sec.gov

Income Statement

Concept 2015 Q2 2015 2014 Q2
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.050M $3.400M $1.590M
YoY Change -33.96% -3.95% 189.09%
% of Gross Profit
Research & Development $1.390M $3.660M $2.200M
YoY Change -36.82% -28.67% 117.82%
% of Gross Profit
Depreciation & Amortization $140.0K $294.2K $50.00K
YoY Change 180.0% 44.77% 0.0%
% of Gross Profit
Operating Expenses $2.440M $7.063M $3.790M
YoY Change -35.62% -18.51% 142.95%
Operating Profit -$7.063M
YoY Change -18.51%
Interest Expense $1.830M $2.650M -$1.400M
YoY Change -230.71% -14.32% 185.71%
% of Operating Profit
Other Income/Expense, Net -$310.0K $4.865M -$150.0K
YoY Change 106.67% -198.6% 15.38%
Pretax Income -$920.0K -$2.198M -$5.340M
YoY Change -82.77% -83.84% 144.95%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$920.0K -$2.198M -$5.340M
YoY Change -82.77% -83.84% 144.95%
Net Earnings / Revenue
Basic Earnings Per Share -$0.04
Diluted Earnings Per Share -$321.7K -$0.09 -$1.978M
COMMON SHARES
Basic Shares Outstanding 57.15M shares 56.55M shares 54.54M shares
Diluted Shares Outstanding 59.22M shares

Balance Sheet

Concept 2015 Q2 2015 2014 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.47M $31.47M $36.70M
YoY Change -14.25% -14.26% 163.65%
Cash & Equivalents $31.47M $31.47M $36.70M
Short-Term Investments
Other Short-Term Assets $0.00 $214.4K $150.0K
YoY Change -100.0% -17.53% -75.0%
Inventory
Prepaid Expenses $214.4K $108.1K
Receivables
Other Receivables
Total Short-Term Assets $31.68M $31.68M $36.95M
YoY Change -14.27% -14.26% 154.48%
LONG-TERM ASSETS
Property, Plant & Equipment $11.96M $11.96M $5.497M
YoY Change 117.63% 117.5% 1072.28%
Goodwill
YoY Change
Intangibles $399.7K $408.3K
YoY Change -2.09% -2.1%
Long-Term Investments
YoY Change
Other Assets $140.0K $142.5K $1.000M
YoY Change -86.0% -85.75% 0.0%
Total Long-Term Assets $12.50M $12.50M $6.905M
YoY Change 81.1% 80.97% 266.13%
TOTAL ASSETS
Total Short-Term Assets $31.68M $31.68M $36.95M
Total Long-Term Assets $12.50M $12.50M $6.905M
Total Assets $44.19M $44.19M $43.86M
YoY Change 0.75% 0.75% 167.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $410.0K $405.7K $430.0K
YoY Change -4.65% -5.65% -55.67%
Accrued Expenses $28.52K $28.52K $91.84K
YoY Change -68.95% -68.31% -55.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $600.9K $600.9K $517.7K
YoY Change 16.06% 15.56% -56.06%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $7.181M $5.000M
YoY Change -100.0% -20.56% 44.17%
Other Long-Term Liabilities $4.620M $4.619M $10.94M
YoY Change -57.77% -57.78% 191.73%
Total Long-Term Liabilities $11.80M $11.80M $19.97M
YoY Change -40.92% -40.94% 176.64%
TOTAL LIABILITIES
Total Short-Term Liabilities $600.9K $600.9K $517.7K
Total Long-Term Liabilities $11.80M $11.80M $19.97M
Total Liabilities $12.40M $12.40M $20.49M
YoY Change -39.48% -39.48% 144.0%
SHAREHOLDERS EQUITY
Retained Earnings -$54.10M -$51.90M
YoY Change 4.24%
Common Stock $57.24K $54.62K
YoY Change 4.8% 16.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $31.79M $31.79M $23.37M
YoY Change
Total Liabilities & Shareholders Equity $44.19M $44.19M $43.86M
YoY Change 0.75% 0.75% 167.32%

Cashflow Statement

Concept 2015 Q2 2015 2014 Q2
OPERATING ACTIVITIES
Net Income -$920.0K -$2.198M -$5.340M
YoY Change -82.77% -83.84% 144.95%
Depreciation, Depletion And Amortization $140.0K $294.2K $50.00K
YoY Change 180.0% 44.77% 0.0%
Cash From Operating Activities -$1.250M -$6.212M -$950.0K
YoY Change 31.58% -1.86% -30.66%
INVESTING ACTIVITIES
Capital Expenditures -$1.200M $6.760M -$1.610M
YoY Change -25.47% 29.23% 2583.33%
Acquisitions
YoY Change
Other Investing Activities $0.00 $1.000M $1.000M
YoY Change -100.0%
Cash From Investing Activities -$1.200M -$5.760M -$610.0K
YoY Change 96.72% 10.14% 916.67%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 6.743M 5.000M
YoY Change -100.0% -80.36% -5100.0%
NET CHANGE
Cash From Operating Activities -1.250M -6.212M -950.0K
Cash From Investing Activities -1.200M -5.760M -610.0K
Cash From Financing Activities 0.000 6.743M 5.000M
Net Change In Cash -2.450M -5.229M 3.440M
YoY Change -171.22% -122.95% -324.84%
FREE CASH FLOW
Cash From Operating Activities -$1.250M -$6.212M -$950.0K
Capital Expenditures -$1.200M $6.760M -$1.610M
Free Cash Flow -$50.00K -$12.97M $660.0K
YoY Change -107.58% 12.21% -150.38%

Facts In Submission

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59675 USD
CY2014 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
104340 USD
CY2015 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
104340 USD
CY2011Q1 nnvc Space For Office And Laboratory
SpaceForOfficeAndLaboratory
7000 sqft
CY2011Q1 nnvc Monthly Base Rent
MonthlyBaseRent
8695 USD
CY2015 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" align="justify"><b><font style="FONT-SIZE: 10pt">Note 1&#160;&#150; Organization and Nature of Business</font></b></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <font style="FONT-SIZE: 10pt"></font> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">NanoViricides, Inc. (the &#8220;Company&#8221;) was&#160;incorporated under the laws of the State of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Colorado</font> on <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">July 25, 2000</font> as <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">Edot-com.com, Inc.</font> which was organized for the purpose of conducting internet retail sales.&#160;&#160;On April 1, 2005, Edot-com.com, Inc. was incorporated under the laws of the State of Nevada for the purpose of re-domiciling as a Nevada corporation.&#160;&#160;On <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">May 12, 2005</font>, the corporations were merged and Edot-com.com, Inc<b>.,</b> the Nevada corporation, became the surviving entity.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">On June 1, 2005, Edot-com.com, Inc. (&#8220;ECMM&#8221;) acquired Nanoviricide, Inc., a privately owned Florida corporation (&#8220;NVI&#8221;), pursuant to an Agreement and Plan of Share Exchange (the &#8220;Exchange&#8221;).&#160;&#160;Nanoviricide, Inc. was incorporated under the laws of the State of Florida on May 12, 2005.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;CLEAR: both" align="justify"><font style="FONT-SIZE: 10pt"><font style="FONT-SIZE: 10pt"> Pursuant to the terms of the Exchange, ECMM acquired NVI in exchange for an aggregate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">80,000,000</font> newly issued shares of ECMM common stock resulting in an aggregate of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">35</font></font> million shares of ECMM common stock issued and outstanding.&#160;&#160;NVI then became a wholly-owned subsidiary of ECMM. The ECMM shares were issued to the NVI shareholders on a pro rata basis</font>, on the basis of <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 4,000</font> shares of the Company&#8217;s common stock for each share of NVI common stock held by such NVI shareholder at the time of the Exchange.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">As a result of the Exchange transaction, the former NVI stockholders held approximately <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 80</font>% of the voting capital stock of the Company immediately after the Exchange.&#160;&#160;For financial accounting purposes, this acquisition was a reverse acquisition of ECCM by NVI, under the purchase method of accounting, and was treated as a recapitalization with NVI as the acquirer. Accordingly, the financial statements have been prepared to give retroactive effect to May 12, 2005 (date of inception), of the reverse acquisition completed on June 1, 2005, and represent the operations of NVI.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">On June 28, 2005, NVI was merged into its parent ECMM and the separate corporate existence of NVI ceased.&#160;&#160;Effective on the same date, Edot-com.com, Inc. changed its name&#160;to NanoViricides, Inc. and its stock symbol to &#8220;NNVC&#8221;, respectively.&#160;&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">NanoViricides, Inc. (the &#8220;Company&#8221;), is a nano-biopharmaceutical company whose business goals are to discover, develop and commercialize therapeutics to advance the care of patients suffering from life-threatening viral infections. We are a company with several drugs in various stages of early development. Our drugs are based on several patents, patent applications, provisional patent applications, and other proprietary intellectual property held by TheraCour Pharma, Inc. (&#8220;TheraCour&#8221;), an entity owned and controlled by a significant stockholder, to which we have the necessary exclusive, worldwide licenses in perpetuity. The first agreement we executed with TheraCour Pharma on&#160;&#160;September 1, 2005, gave us an exclusive, worldwide license for the treatment of the following human viral diseases: Human Immunodeficiency Virus (HIV/AIDS), Hepatitis B Virus (HBV), Hepatitis C Virus (HCV), Herpes Simplex Virus (HSV), Influenza and Asian Bird Flu Virus.</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt"> &#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">On February 15, 2010, the Company executed an Additional License Agreement with TheraCour.&#160;Pursuant to the Additional License Agreement, the Company was granted exclusive, worldwide licenses, in perpetuity, for technologies, developed by TheraCour, for the development of drug candidates for the treatment of Dengue viruses, Ebola/Marburg viruses, Japanese Encephalitis, viruses causing viral Conjunctivitis (a disease of the eye) and Ocular Herpes.&#160;&#160;As consideration for obtaining these exclusive licenses, we agreed to pay a onetime licensing fee equal to 2,000,000 shares <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">(adjusted for the 3.5 to 1 reverse split)</font> of the Company&#8217;s Series A Convertible Preferred Stock (the &#8220;Series A Preferred Stock&#8221;).&#160;&#160;<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">The Series A Preferred Stock is convertible, only upon sale or merger of the Company, or the sale of or license of substantially all of the Company&#8217;s intellectual property, into shares of the Company&#8217;s common stock at the rate of 3.5 shares of common stock for each share of Series A Preferred Stock.</font> The Series A Preferred Stock has a preferred voting preference at the rate of nine votes per share. The Series A Preferred Stock do not contain any rights to dividends, have no liquidation preference, and are not to be amended without the holder&#8217;s approval. The <font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> 2,000,000</font> shares were valued at the par value of $<font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt">2,000</font>.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015Q2 us-gaap Other Assets
OtherAssets
142531 USD
CY2014Q2 us-gaap Other Assets
OtherAssets
1000000 USD
CY2015Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
85714286 shares
CY2015Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
57242070 shares
CY2015Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
57242070 shares
CY2014Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
54620993 shares
CY2014Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
54620993 shares
CY2015 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: 0in 0in 0pt"> </div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <i><u><font style="FONT-SIZE: 10pt">Use of Estimates</font></u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt"> <font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. The Company bases its estimates on historical experience and on various assumptions that are believed to be reasonable under the circumstances. The amounts of assets and liabilities reported in the Company&#8217;s balance sheet and the amounts of expenses reported for each of the periods presented are affected by estimates and assumptions, which are used for, but not limited to, accounting for share-based compensation, accounting for derivatives and accounting for income taxes. Actual results could differ from those estimates.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2013 nnvc Preferred Shares Issued As Compensation
PreferredSharesIssuedAsCompensation
445044 USD
CY2013 nnvc Shares And Warrants Issued For Services
SharesAndWarrantsIssuedForServices
163710 USD
CY2013 nnvc Common Shares Issued For Interest
CommonSharesIssuedForInterest
-665497 USD
CY2013 us-gaap Adjustment Of Warrants Granted For Services
AdjustmentOfWarrantsGrantedForServices
141600 USD
CY2013 us-gaap Depreciation
Depreciation
210877 USD
CY2013 us-gaap Adjustment For Amortization
AdjustmentForAmortization
8774 USD
CY2013 nnvc Change In Fair Value Of Derivative Liability
ChangeInFairValueOfDerivativeLiability
-1249335 USD
CY2013 nnvc Discount On Longterm Convertible Debentures
DiscountOnLongtermConvertibleDebentures
0 USD
CY2013 us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
284206 USD
CY2013 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
24900 USD
CY2015 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<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="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><i><u><font style="FONT-SIZE: 10pt">Concentrations of Risk</font></u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;TEXT-INDENT: 0.5in; MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Financial instruments that potentially subject us to a significant concentration of credit risk consist primarily of cash and cash equivalents. The Company maintains deposits in federally insured institutions in excess of federally insured limits. The Company does not believe it is exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2015 us-gaap Debt Instrument Redemption Description
DebtInstrumentRedemptionDescription
the Company, at its sole option, shall have the right, but not the obligation, to repurchase the Debenture at any time prior to the Maturity Date (the Redemption). If the Company intends to repurchase the Debenture, and if the closing bid price of the Common Stock is greater than $5.25 on the Redemption Date, unless the Holder, on or prior to the Redemption Date, elects to receive the Redemption Payment, as that term is defined herein, the Company shall pay to the Holder: (i) 952,381 shares of Common Stock in consideration of the exchange of the principal amount of the Debenture; and (ii) any and all accrued coupon interest. If on or prior to the Redemption Date, the Holder elects to receive the Redemption Payment, or the closing bid price of the Common Stock is less than $5.25, the Company shall issue to the Holder: (i) the principal amount of the Debenture; (ii) any accrued coupon interest; (iii) additional interest of 7% per annum for the period from the date of issuance of the Debenture to the Redemption Date; and (iv) warrants to purchase 619,048 shares of Common Stock which shall expire in three years from the date of issuance at an exercise price of $6.05 per share of Common Stock (the Redemption Warrants, and collectively with (i) (iii), the Redemption Payment). The Company shall use its best efforts to register the shares underlying the Redemption Warrants under a shelf registration statement, provided same is available to the Company, in accordance with the provisions of the Securities Act.
CY2015 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-266741 USD
CY2014 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
114329 USD
CY2013 us-gaap Increase Decrease In Prepaid Expenses Other
IncreaseDecreaseInPrepaidExpensesOther
-344886 USD
CY2013 us-gaap Increase Decrease In Other Accrued Liabilities
IncreaseDecreaseInOtherAccruedLiabilities
107479 USD
CY2015 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
-500000 USD
CY2014 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
0 USD
CY2013 us-gaap Increase Decrease In Deferred Charges
IncreaseDecreaseInDeferredCharges
0 USD
CY2015 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
142531 USD
CY2014 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
0 USD
CY2013 us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
0 USD
CY2015 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
-150000 USD
CY2014 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
150000 USD
CY2013 us-gaap Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
0 USD
CY2013 us-gaap Net Cash Provided By Used In Operating Activities Continuing Operations
NetCashProvidedByUsedInOperatingActivitiesContinuingOperations
-5797772 USD
CY2013 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
64931 USD
CY2013 us-gaap Net Cash Provided By Used In Investing Activities Continuing Operations
NetCashProvidedByUsedInInvestingActivitiesContinuingOperations
-1064931 USD
CY2014 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
5000000 USD
CY2013 us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
6000000 USD
CY2013 us-gaap Proceeds From Issuance Of Convertible Preferred Stock
ProceedsFromIssuanceOfConvertiblePreferredStock
510963 USD
CY2013 us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
0 USD
CY2013 us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
0 USD
CY2013 us-gaap Net Cash Provided By Used In Financing Activities Continuing Operations
NetCashProvidedByUsedInFinancingActivitiesContinuingOperations
6510963 USD
CY2013 us-gaap Cash And Cash Equivalents Period Increase Decrease
CashAndCashEquivalentsPeriodIncreaseDecrease
-351740 USD
CY2013 us-gaap Interest Paid
InterestPaid
197589 USD
CY2013 us-gaap Income Taxes Paid
IncomeTaxesPaid
0 USD
CY2013 nnvc Bifurccation Of Embedded Derivative
BifurccationOfEmbeddedDerivative
0 USD
CY2013 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
0 USD
CY2015 nnvc Common Stock Issued Upon Conversion Of Series B Preferred Stock
CommonStockIssuedUponConversionOfSeriesBPreferredStock
0 USD
CY2014 nnvc Common Stock Issued Upon Conversion Of Series B Preferred Stock
CommonStockIssuedUponConversionOfSeriesBPreferredStock
0 USD
CY2013 nnvc Common Stock Issued Upon Conversion Of Series B Preferred Stock
CommonStockIssuedUponConversionOfSeriesBPreferredStock
3028464 USD
CY2013Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
13923245 USD
CY2012Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14274985 USD
CY2015 us-gaap Operating Loss Carryforwards Expiration Date
OperatingLossCarryforwardsExpirationDate
2035-06-30
CY2015 us-gaap Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
charge its costs (direct and indirect) plus no more than 30% of direct costs
CY2015 nnvc Lab Supplies And Chemicals Fees
LabSuppliesAndChemicalsFees
25000 USD
CY2015 us-gaap Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
2000 USD
CY2014Q2 us-gaap Land
Land
0 USD
CY2015Q2 us-gaap Land
Land
260000 USD
CY2010Q1 nnvc Minimum Annual Base Salary
MinimumAnnualBaseSalary
250000 USD
CY2010Q1 nnvc Proceeds From Financing
ProceedsFromFinancing
5000000 USD
CY2010Q1 nnvc Employment Agreement Term
EmploymentAgreementTerm
P4Y
CY2015 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P4Y
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.3744 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.4584 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.00 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0120 pure
CY2015 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0167 pure
CY2013Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q1 nnvc Purchase Price Per Unit Description
PurchasePricePerUnitDescription
The price per Unit was equal to a four percent (4%) discount to the 20-day VWAP of the Companys stock price on Friday, January 17, 2014. The exercise price of the Warrant was equal to the closing price of the Companys stock on Friday, January 17, 2014. Each Unit consisted of one share of the Companys common stock, par value $0.001 per share (the Common Stock) and Sixty-Five Hundredths (65/100) of a warrant to purchase one share of Common Stock (Warrant),
CY2013Q3 nnvc Description Of Offering
DescriptionOfOffering
the Company paid the Placement Agents an aggregate cash fee representing 6% (3% each) of the gross Purchase Price paid by the Purchasers and warrants to purchase an aggregate of 2% (1% each) of the number of shares of Common Stock sold in the Offering (the Compensation Warrants) and substantially similar to the Warrants, at an exercise price equal to $5.25 per share.
CY2014Q1 nnvc Description Of Offering
DescriptionOfOffering
the Placement Agents an aggregate cash fee representing 6% of the gross Purchase Price paid by the Purchasers and warrants to purchase an aggregate of 2% of the number of shares of Common Stock sold in the Offering (the Compensation Warrants) representing two percent of the Shares and substantially similar to the Warrants, at an exercise price equal to $6.05 per share.
CY2013Q4 nnvc Number Of Common Stock To Be Issued Upon Conversion Of Warrants
NumberOfCommonStockToBeIssuedUponConversionOfWarrants
7143 shares
CY2013Q4 nnvc Stock Issued During Period Price Per Share One
StockIssuedDuringPeriodPricePerShareOne
3.50
CY2014Q1 nnvc Stock Issued During Period Price Per Share One
StockIssuedDuringPeriodPricePerShareOne
5.25
CY2014Q1 nnvc Warrants Exercise Price
WarrantsExercisePrice
6.05
CY2015Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
20030207 USD
CY2015Q1 nnvc Placement Agents And Attorneys Fees
PlacementAgentsAndAttorneysFees
1200000 USD
CY2013Q3 us-gaap Adjustments To Additional Paid In Capital Warrant Issued
AdjustmentsToAdditionalPaidInCapitalWarrantIssued
113696 USD
CY2013Q3 nnvc Purchase Price Per Share
PurchasePricePerShare
3.50
CY2013Q3 nnvc Stock Issued During Period Price Per Share
StockIssuedDuringPeriodPricePerShare
5.25
CY2013Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
10308996 USD
CY2013Q3 nnvc Placement Agents And Attorneys Fees
PlacementAgentsAndAttorneysFees
618540 USD
CY2013Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2945428 shares
CY2014Q1 nnvc Number Of Common Stock To Be Issued Upon Conversion Of Warrants
NumberOfCommonStockToBeIssuedUponConversionOfWarrants
75000 shares
CY2014Q1 nnvc Number Of Common Stock To Be Issued Upon Conversion Of Warrants
NumberOfCommonStockToBeIssuedUponConversionOfWarrants
25000 shares
CY2014Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2014Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
393750 USD
CY2014Q1 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
131750 USD
CY2013 nnvc Number Of Common Stock To Be Issued Upon Conversion Of Warrants
NumberOfCommonStockToBeIssuedUponConversionOfWarrants
71428 shares
CY2013 nnvc Series Preferred Shares Issued During Period Employee Stock Compensation Value Issued
SeriesPreferredSharesIssuedDuringPeriodEmployeeStockCompensationValueIssued
445044 USD
CY2013 nnvc Series C Preferred Shares Issued During Period Value Issued
SeriesCPreferredSharesIssuedDuringPeriodValueIssued
2541872 USD
CY2013 nnvc Common Stock Issued During Period Retirement Of Series C Preferred Shares Value
CommonStockIssuedDuringPeriodRetirementOfSeriesCPreferredSharesValue
1 USD
CY2013 nnvc Common Stock Issued During Period Conversion Of Series C Preferred Shares Value
CommonStockIssuedDuringPeriodConversionOfSeriesCPreferredSharesValue
6352 USD
CY2013 nnvc Common Stock Issue For Dividend Value Issued
CommonStockIssueForDividendValueIssued
90108 USD
CY2013 nnvc Stock Issued During July Value Issued For Share Based Compensation Consulting And Legal Service One
StockIssuedDuringJulyValueIssuedForShareBasedCompensationConsultingAndLegalServiceOne
84956 USD
CY2013 nnvc Stock Issued During Shares Issued For Share Based Compensation Consulting And Legal Services For August
StockIssuedDuringSharesIssuedForShareBasedCompensationConsultingAndLegalServicesForAugust
141600 USD
CY2013 nnvc Common Stock Issued During Period Employee Stock Compensation Value Issued
CommonStockIssuedDuringPeriodEmployeeStockCompensationValueIssued
60000 USD
CY2013 nnvc Common Stock Shares Issued For Payment Of Debenture Interest Value
CommonStockSharesIssuedForPaymentOfDebentureInterestValue
665497 USD
CY2013 nnvc Stock Issued For Payment Of Director Fees Value
StockIssuedForPaymentOfDirectorFeesValue
18750 USD
CY2013 nnvc Adjustments To Additional Paid In Capital Dividends Paid
AdjustmentsToAdditionalPaidInCapitalDividendsPaid
96110 USD
CY2013 nnvc Adjustment To Additional Paid In Capital Derivative Liability Retirement Of Series C Preferred Shares Issued For June
AdjustmentToAdditionalPaidInCapitalDerivativeLiabilityRetirementOfSeriesCPreferredSharesIssuedForJune
968894 USD
CY2013 nnvc Adjustments To Additional Paid In Capital Placement Agents Fee Conversion
AdjustmentsToAdditionalPaidInCapitalPlacementAgentsFeeConversion
165000 USD
CY2013 nnvc Adjustments To Additional Paid In Capital Legal Fee Conversion
AdjustmentsToAdditionalPaidInCapitalLegalFeeConversion
12500 USD
CY2013Q2 us-gaap Stockholders Equity
StockholdersEquity
8009652 USD
CY2013 nnvc Stock Issued During Period Redemption Of Series C Convertible Preferred Stok Value
StockIssuedDuringPeriodRedemptionOfSeriesCConvertiblePreferredStokValue
1714334 USD
CY2014 nnvc Series Preferred Shares Issued During Period Employee Stock Compensation Value Issued
SeriesPreferredSharesIssuedDuringPeriodEmployeeStockCompensationValueIssued
2123014 USD
CY2014 nnvc Stock Issued During July Value Issued For Share Based Compensation Consulting And Legal Service One
StockIssuedDuringJulyValueIssuedForShareBasedCompensationConsultingAndLegalServiceOne
102001 USD
CY2014 nnvc Stock Issued During Shares Issued For Share Based Compensation Consulting And Legal Services For August
StockIssuedDuringSharesIssuedForShareBasedCompensationConsultingAndLegalServicesForAugust
199849 USD
CY2014 nnvc Common Stock Issued During Period Employee Stock Compensation Value Issued
CommonStockIssuedDuringPeriodEmployeeStockCompensationValueIssued
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CY2014 nnvc Common Stock Shares Issued For Payment Of Debenture Interest Value
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2605716 USD
CY2014 nnvc Stock Issued For Payment Of Director Fees Value
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45000 USD
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30339203 USD
CY2014 nnvc Common Shares Issues Value To Round Up Financial Shares Arising From Private Placement
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0 USD
CY2014 nnvc Placement Agents Fees Related To Sale Of Common Shares And Warrants
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1820360 USD
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83900 USD
CY2014 nnvc Restatement Of Additional Paid In Capital To Derivative Liability
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5740540 USD
CY2015 nnvc Series Preferred Shares Issued During Period Employee Stock Compensation Value Issued
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852760 USD
CY2015 nnvc Series Preferred Shares Value Issued For Consulting And Legal Services Rendered
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24474 USD
CY2015 nnvc Stock Issued For Payment Of Director Fees Value
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45000 USD
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CY2015 nnvc Stock Issued During Shares Issued For Share Based Compensation Consulting And Legal Services For August
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59675 USD
CY2015 nnvc Common Stock Issued During Period Employee Stock Compensation Value Issued
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CY2015 nnvc Common Shares Issued In Connection With Warrant Conversion
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-1000000 USD
CY2014 us-gaap Payments For Advance To Affiliate
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0 USD
CY2014Q2 nnvc Service Agreements
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0 USD
CY2015 dei Entity Incorporation State Country Name
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Colorado
CY2015 dei Entity Incorporation Date Of Incorporation
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2000-07-25
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13850192 USD
CY2015Q2 nnvc Service Agreements
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142531 USD
CY2014Q2 us-gaap Deferred Tax Assets Net
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0 USD
CY2015 us-gaap Business Acquisition Name Of Acquired Entity
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Edot-com.com, Inc.
CY2015 us-gaap Business Acquisition Date Of Acquisition Agreement1
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2005-05-12
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CY2011Q1 us-gaap Lease Expiration Date1
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CY2013 nnvc Common Stock Issued During Period Settlement Of Accounts Payable Value
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60000 USD
CY2015 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
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3.5 pure
CY2013Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1 for 3.5
CY2013Q3 nnvc Fair Value Of Common Stock Warrant Issued During Period For Consulting Services
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113696 USD
CY2013 nnvc Stock Issued During Period Price Per Share One
StockIssuedDuringPeriodPricePerShareOne
0.001
CY2014Q3 nnvc Warrants Issued To Purchase Of Common Stock
WarrantsIssuedToPurchaseOfCommonStock
1926656 shares
CY2014Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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3.50
CY2014Q3 nnvc Aggregate Purchase Price Of Warrants
AggregatePurchasePriceOfWarrants
6743297 USD
CY2015 us-gaap Conversion Of Stock Description
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CY2015Q2 us-gaap Finite Lived Intangible Assets Net
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CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
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CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
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8521 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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8521 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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8521 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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8521 USD
CY2015Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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357132 USD
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1000000 USD
CY2015Q2 us-gaap Commitments And Contingencies
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CY2014Q2 us-gaap Commitments And Contingencies
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CY2014Q2 nnvc Deferred Interest Payable Noncurrent
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0 USD
CY2013Q3 us-gaap Class Of Warrant Or Right Outstanding
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P5Y
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5.25
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6.05
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<div style="MARGIN: 0pt 0px; FONT: 10pt Times New Roman, Times, Serif "> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><i><u><font style="FONT-SIZE: 10pt"><font style="FONT-FAMILY: 'Times New Roman','serif'; FONT-SIZE: 10pt"> </font>Reclassifications</font></u></i></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">&#160;</font></div> <div style="CLEAR:both; FONT-FAMILY:Times New Roman;FONT-SIZE: 10pt;MARGIN: 0in 0in 0pt" align="justify"><font style="FONT-SIZE: 10pt">Certain accounts in the June 30, 2014 financial statements have been reclassified to conform to the current period presentation.</font></div> </div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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-0.3400 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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-0.3400 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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-0.3700 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
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-0.3700 pure
CY2015 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
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0.7100 pure
CY2014 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.7100 pure
CY2015 us-gaap Effective Income Tax Rate Continuing Operations
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0.00 pure
CY2014 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.00 pure
CY2015 us-gaap Valuation Allowance Deferred Tax Asset Change In Amount
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5400000 USD
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43400000 USD
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16394801 USD
CY2014Q2 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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13408064 USD
CY2015Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
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4800186 USD
CY2014Q2 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
3422745 USD
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5214064 USD
CY2014Q2 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
4178211 USD
CY2015Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
26409051 USD
CY2014Q2 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
21009020 USD
CY2015Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
26409051 USD
CY2014Q2 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
21009020 USD
CY2015Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
0 USD

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