2018 Q4 Form 10-Q Financial Statement
#000114420418059983 Filed on November 14, 2018
Income Statement
| Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 |
| YoY Change | |||
| Cost Of Revenue | |||
| YoY Change | |||
| Gross Profit | |||
| YoY Change | |||
| Gross Profit Margin | |||
| Selling, General & Admin | $710.0K | $630.0K | $1.080M |
| YoY Change | -29.7% | -41.67% | 9.09% |
| % of Gross Profit | |||
| Research & Development | $1.658M | $1.411M | $1.452M |
| YoY Change | 1.11% | -2.78% | -0.02% |
| % of Gross Profit | |||
| Depreciation & Amortization | $171.8K | $171.3K | $166.2K |
| YoY Change | 3.05% | 3.09% | 1.78% |
| % of Gross Profit | |||
| Operating Expenses | $2.369M | $2.039M | $2.230M |
| YoY Change | -1.03% | -8.58% | -8.61% |
| Operating Profit | -$2.369M | -$2.039M | -$2.230M |
| YoY Change | -1.03% | -8.58% | -8.61% |
| Interest Expense | $140.0K | $0.00 | $125.0K |
| YoY Change | -86.79% | -100.0% | -48.98% |
| % of Operating Profit | |||
| Other Income/Expense, Net | $138.2K | $197.6K | $224.9K |
| YoY Change | -134.28% | -12.12% | -136.21% |
| Pretax Income | -$2.231M | -$1.841M | -$2.006M |
| YoY Change | -20.23% | -8.18% | -34.46% |
| Income Tax | $0.00 | $0.00 | $0.00 |
| % Of Pretax Income | |||
| Net Earnings | -$2.231M | -$1.841M | -$2.006M |
| YoY Change | -20.23% | -8.18% | -34.49% |
| Net Earnings / Revenue | |||
| Basic Earnings Per Share | -$0.03 | ||
| Diluted Earnings Per Share | -$642.7K | -$531.8K | -$0.03 |
| COMMON SHARES | |||
| Basic Shares Outstanding | 69.38M shares | 63.31M shares | |
| Diluted Shares Outstanding | 63.31M shares |
Balance Sheet
| Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
|---|---|---|---|
| SHORT-TERM ASSETS | |||
| Cash & Short-Term Investments | $3.904M | $6.080M | $13.51M |
| YoY Change | -67.6% | -55.0% | -38.34% |
| Cash & Equivalents | $3.904M | $6.082M | $13.51M |
| Short-Term Investments | |||
| Other Short-Term Assets | $169.0K | $200.0K | $190.0K |
| YoY Change | -29.6% | 5.26% | -9.52% |
| Inventory | |||
| Prepaid Expenses | $168.9K | $201.5K | |
| Receivables | |||
| Other Receivables | |||
| Total Short-Term Assets | $4.073M | $6.284M | $13.70M |
| YoY Change | -66.86% | -54.13% | -38.07% |
| LONG-TERM ASSETS | |||
| Property, Plant & Equipment | $10.56M | $10.71M | $11.14M |
| YoY Change | -4.3% | -3.89% | -4.15% |
| Goodwill | |||
| YoY Change | |||
| Intangibles | $370.8K | $372.9K | $381.1K |
| YoY Change | -2.17% | -2.12% | |
| Long-Term Investments | |||
| YoY Change | |||
| Other Assets | $5.310K | $10.00K | $40.00K |
| YoY Change | -82.3% | -75.0% | -55.56% |
| Total Long-Term Assets | $10.93M | $11.09M | $11.57M |
| YoY Change | -4.44% | -4.14% | -4.42% |
| TOTAL ASSETS | |||
| Total Short-Term Assets | $4.073M | $6.284M | $13.70M |
| Total Long-Term Assets | $10.93M | $11.09M | $11.57M |
| Total Assets | $15.00M | $17.37M | $25.27M |
| YoY Change | -36.77% | -31.25% | -26.17% |
| SHORT-TERM LIABILITIES | |||
| YoY Change | |||
| Accounts Payable | $1.025M | $1.040M | $910.0K |
| YoY Change | -33.9% | 14.29% | -2.15% |
| Accrued Expenses | $139.0K | $231.2K | $34.19K |
| YoY Change | 363.5% | 576.11% | -4.09% |
| Deferred Revenue | |||
| YoY Change | |||
| Short-Term Debt | $0.00 | $0.00 | $4.200M |
| YoY Change | -100.0% | -100.0% | -26.19% |
| Long-Term Debt Due | |||
| YoY Change | |||
| Total Short-Term Liabilities | $1.164M | $1.392M | $5.284M |
| YoY Change | -82.74% | -73.65% | -23.85% |
| LONG-TERM LIABILITIES | |||
| Long-Term Debt | $0.00 | $0.00 | $0.00 |
| YoY Change | -100.0% | -100.0% | |
| Other Long-Term Liabilities | $0.00 | $1.460M | |
| YoY Change | -100.0% | -60.96% | |
| Total Long-Term Liabilities | $0.00 | $0.00 | $1.460M |
| YoY Change | -100.0% | -100.0% | -79.32% |
| TOTAL LIABILITIES | |||
| Total Short-Term Liabilities | $1.164M | $1.392M | $5.284M |
| Total Long-Term Liabilities | $0.00 | $0.00 | $1.460M |
| Total Liabilities | $1.164M | $1.390M | $6.747M |
| YoY Change | -85.1% | -79.4% | -51.8% |
| SHAREHOLDERS EQUITY | |||
| Retained Earnings | -$87.76M | -$85.53M | -$77.13M |
| YoY Change | 10.89% | 13.62% | |
| Common Stock | $69.50K | $69.38K | |
| YoY Change | |||
| Preferred Stock | |||
| YoY Change | |||
| Treasury Stock (at cost) | |||
| YoY Change | |||
| Treasury Stock Shares | |||
| Shareholders Equity | $13.84M | $15.98M | $18.52M |
| YoY Change | |||
| Total Liabilities & Shareholders Equity | $15.00M | $17.37M | $25.27M |
| YoY Change | -36.77% | -31.25% | -26.17% |
Cashflow Statement
| Concept | 2018 Q4 | 2018 Q3 | 2017 Q3 |
|---|---|---|---|
| OPERATING ACTIVITIES | |||
| Net Income | -$2.231M | -$1.841M | -$2.006M |
| YoY Change | -20.23% | -8.18% | -34.49% |
| Depreciation, Depletion And Amortization | $171.8K | $171.3K | $166.2K |
| YoY Change | 3.05% | 3.09% | 1.78% |
| Cash From Operating Activities | -$2.161M | -$962.2K | -$1.557M |
| YoY Change | 54.33% | -38.2% | -30.03% |
| INVESTING ACTIVITIES | |||
| Capital Expenditures | -$17.54K | $37.25K | $30.43K |
| YoY Change | -70.77% | 22.41% | 24.55% |
| Acquisitions | |||
| YoY Change | |||
| Other Investing Activities | |||
| YoY Change | |||
| Cash From Investing Activities | -$17.54K | -$40.00K | -$30.00K |
| YoY Change | -70.77% | 33.33% | 50.0% |
| 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 | ||
| YoY Change | |||
| NET CHANGE | |||
| Cash From Operating Activities | -2.161M | -$962.2K | -$1.557M |
| Cash From Investing Activities | -17.54K | -40.00K | -30.00K |
| Cash From Financing Activities | 0.000 | ||
| Net Change In Cash | -2.178M | -$962.2K | -$1.557M |
| YoY Change | 49.18% | -38.2% | -30.03% |
| FREE CASH FLOW | |||
| Cash From Operating Activities | -$2.161M | -$962.2K | -$1.557M |
| Capital Expenditures | -$17.54K | $37.25K | $30.43K |
| Free Cash Flow | -$2.143M | -$999.4K | -$1.587M |
| YoY Change | 59.93% | -37.03% | -29.43% |
Facts In Submission
| Frame | Concept Type | Concept / XBRL Key | Value | Unit |
|---|---|---|---|---|
| CY2018Q4 | dei |
Entity Common Stock Shares Outstanding
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Cash And Cash Equivalents At Carrying Value
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|
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Current Fiscal Year End Date
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2018-09-30 | |
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2019 | |
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150000 | shares |
| CY2018Q3 | us-gaap |
Deferred Compensation Arrangement With Individual Shares Authorized For Issuance
DeferredCompensationArrangementWithIndividualSharesAuthorizedForIssuance
|
525000 | shares |
| CY2018Q2 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
69171740 | shares |
| CY2018Q3 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
133333 | USD |
| CY2018Q2 | us-gaap |
Due To Officers Or Stockholders Current
DueToOfficersOrStockholdersCurrent
|
233333 | USD |
| CY2018Q3 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
49576 | USD |
| CY2018Q2 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
19716 | USD |
| CY2018Q3 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
48266 | USD |
| CY2018Q2 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
0 | USD |
| CY2018Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2018Q3 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
| CY2018Q3 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
69382560 | shares |
| CY2018Q2 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2018Q2 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
150000000 | shares |
| CY2018Q3 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
69382560 | shares |
| CY2018Q2 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
69171740 | shares |
| CY2018Q3 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
|
11920 | USD |
| CY2018Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
11920 | USD |
| CY2017Q3 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
0 | USD |
| CY2018Q3 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-1425 | USD |
| CY2017Q3 | us-gaap |
Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
|
-14257 | USD |
| CY2018Q3 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
37254 | USD |
| CY2017Q3 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
30433 | USD |
| CY2018Q3 | us-gaap |
Nature Of Operations
NatureOfOperations
|
<div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; margin-right: 0px; background: none;"><div style="font-family: "times new roman", serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 1 - Organization and Nature of Business</div></div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: "times new roman", serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">NanoViricides, Inc. (the Company”) is a nano-biopharmaceutical research and development company specializing in the discovery, development, and commercialization of drugs to combat viral infections using its unique and novel nanomedicines technology. NanoViricides is also unique in the bio-pharma field in that it possesses its own state of the art facilities for the design, synthesis, analysis and characterization of the nanomedicines that we develop, as well as for production scale-up, and c-GMP-like production in quantities needed for human clinical trials, where our design, development, and production work is performed. The biological studies such as the effectiveness, safety, bio-distribution and Pharmacokinetics/Pharmacodynamics on our drug candidates are performed by external collaborators and contract organizations.</div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="font-family: "times new roman", serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">  </div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: "times new roman", serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">We are a company with several drugs in various stages of early development. In our lead antiviral program against herpes viruses, i.e. the HerpeCide™ program alone, we have drug candidates against at least five indications at different stages of development. Of these, our shingles drug candidate is expected to enter human clinical trials in the very near future. It is in advanced, IND-enabling pre-clinical studies at present, and large-scale production is being performed to supply the safety-toxicology study. In addition, our drug candidates against HSV-1 “cold sores” and HSV-2 “genital herpes” are in advanced studies and are expected to follow the shingles drug candidate into human clinical trials. Shingles in adults and chicken pox in children is caused by the same virus, namely VZV (Varicella-zoster virus, aka HHV-3 or human herpesvirus-3). Chicken pox is re-emerging as a major disease especially in European countries, with 23,500 confirmed cases in the first six months of 2018. In addition, we have drugs in development against all influenzas in our FluCide™ program, as well as drug candidates against HIV/AIDS, Dengue, Ebola/Marburg, and other viruses.</div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="white-space: pre-line; font-family: "times new roman", serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); text-decoration: none; letter-spacing: 0px; top: 0px;;display:inline;">  </div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="font-family: "times new roman", serif; font-size: 10pt; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Our drugs are based on several patents, patent applications, provisional patent applications, and other proprietary intellectual property held by TheraCour Pharma, Inc. (“TheraCour”), to which we have broad, exclusive licenses in perpetuity. The first license agreement we executed with TheraCour on 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. On February 15, 2010, the Company executed an Additional License Agreement with TheraCour.  Pursuant to the Additional License Agreement, the Company was granted exclusive 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.  In addition, the Company is negotiating a license for VZV (shingles, chicken pox virus), and the remaining human herpesviruses from TheraCour. For this purpose, the Company has conducted a valuation for the shingles and PHN indications. The negotiation process has begun in earnest, with Dr. Irach Taraporewala being appointed as the new Chief Executive Officer of the Company, effective September 1, 2018. To date, TheraCour has not withheld any licenses for antiviral nanomedicines that NanoViricides has asked for, and we anticipate that the licenses to the remaining herpes viruses including VZV will be executed once the due diligence process is completed.</div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2018Q3 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<div style="color: rgb(0, 0, 0); font: 10pt "times new roman", times, serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0px; text-align: justify; background: none;"><div style="background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;"><div style="text-decoration:underline;display:inline;">Reclassifications and Prior Year Adjustments</div></div></div></div><div style="color: rgb(0, 0, 0); font: 10pt "times new roman", times, serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin: 0px; text-align: justify; background: none;"><div style="text-decoration: none; background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="color: rgb(0, 0, 0); font: 10pt "times new roman", times, serif; letter-spacing: normal; orphans: 2; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; text-decoration-style: initial; text-decoration-color: initial; margin: 0pt 0px; text-align: justify; background: none;"><div style="background: none; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">Certain prior year amounts have been reclassified for consistency with current year presentation. These reclassifications had no effect on the reported results of operations. The Company reclassified $296,678 of expenses related to the Company’s laboratory facilities out of general and administrative expenses into research and development expenses for consistency with current year presentation. The reclassifications had no impact on the reported results of operations and net loss reported for the three months ended September 30, 2017.</div></div><table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table> | |
| CY2018Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
4412039 | shares |
| CY2017Q3 | us-gaap |
Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
|
6685292 | shares |
| CY2017Q3 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-2005555 | USD |
| CY2018Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
69185965 | shares |
| CY2017Q3 | us-gaap |
Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
|
63307083 | shares |
| CY2018Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.03 | |
| CY2017Q3 | us-gaap |
Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
|
-0.03 | |
| CY2017Q3 | nnvc |
Reclassification Of General And Administrative Expenses Into Research And Development Expenses
ReclassificationOfGeneralAndAdministrativeExpensesIntoResearchAndDevelopmentExpenses
|
296678 | USD |
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
|
0.5512 | pure |
| CY2018Q3 | us-gaap |
Related Party Transaction Description Of Transaction
RelatedPartyTransactionDescriptionOfTransaction
|
costs (direct and indirect) plus no more than 30% of direct costs | |
| CY2018Q3 | us-gaap |
Other General And Administrative Expense
OtherGeneralAndAdministrativeExpense
|
2000 | USD |
| CY2018Q3 | nnvc |
Percentage Of Net Sales Allocated For Royalty Payments
PercentageOfNetSalesAllocatedForRoyaltyPayments
|
0.15 | pure |
| CY2017Q3 | us-gaap |
Interest Expense Debt
InterestExpenseDebt
|
5000000 | USD |
| CY2017Q4 | us-gaap |
Debt Conversion Description
DebtConversionDescription
|
for an aggregate of 5,500,000 shares of the Company’s $0.001 par value Common Stock (“Purchase Price”) comprising 5,000,000 shares for the principal of the Debenture and 500,000 shares for unpaid coupon interest from October 1, 2017 through June 30, 2018. | |
| CY2018Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P4Y | |
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
|
0.0271 | pure |
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Authorized
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAuthorized
|
7716 | shares |
| CY2018Q3 | us-gaap |
Restricted Stock Expense
RestrictedStockExpense
|
7767 | USD |
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
300000 | shares |
| CY2018Q3 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
| CY2018Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Purchase Price Of Common Stock Percent
SharebasedCompensationArrangementBySharebasedPaymentAwardPurchasePriceOfCommonStockPercent
|
0.2 | pure |
| CY2018Q3 | us-gaap |
Share Price
SharePrice
|
0.41 | |
| CY2018Q3 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
35761 | USD |
| CY2018Q3 | nnvc |
Fair Value Measurement Significant Assumptions
FairValueMeasurementSignificantAssumptions
|
a.The common stock price was in the range $.42 to $.58;b.The calculated weighted average number of shares of common stock in the period;c.A 26.63% premium over the common shares for the voting preferences;d.The calculated weighted average number of total voting shares and the monthly shares representing voting rights of 19.22% to 19.25% of the total;e.The conversion value is based on an assumption for calculation purposes only of a Change of Control in 4 years from October 31, 2016 and a remaining restricted term of 2.34 to 2.09 years;f.29.42% to 32.24% restricted stock discount (based on a restricted stock analysis and call-put analysis curve: 55.76% to 61.17% volatility, 2.09% to 2.11% risk free rate) applied to the converted common. | |
| CY2018Q3 | us-gaap |
Deferred Compensation Arrangement With Individual Compensation Expense
DeferredCompensationArrangementWithIndividualCompensationExpense
|
400000 | USD |
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0.50 | |
| CY2018Q3 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
|
35761 | USD |
| CY2018Q3 | us-gaap |
Stock Option Plan Expense
StockOptionPlanExpense
|
11920 | USD |
| CY2017Q4 | us-gaap |
Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
|
150000 | shares |
| CY2018Q3 | us-gaap |
Share Price
SharePrice
|
0.42 | |
| CY2018Q3 | nnvc |
Share Price As Per Redemption Agreement
SharePriceAsPerRedemptionAgreement
|
1.00 | |
| CY2018Q3 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
320097 | USD |
| CY2018Q2 | us-gaap |
Accounts Payable Trade Current
AccountsPayableTradeCurrent
|
223339 | USD |
| CY2018Q3 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
718457 | USD |
| CY2018Q2 | us-gaap |
Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
|
107468 | USD |
| CY2018Q3 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
231175 | USD |
| CY2018Q2 | us-gaap |
Accrued Liabilities Current
AccruedLiabilitiesCurrent
|
253049 | USD |
| CY2018Q3 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
1392270 | USD |
| CY2018Q2 | us-gaap |
Liabilities Current
LiabilitiesCurrent
|
881948 | USD |
| nnvc |
Warrants Issued
WarrantsIssued
|
5425363 | shares | |
| CY2018Q3 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
2479935 | shares |
| CY2018Q2 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
5290006 | shares |
| CY2018Q3 | us-gaap |
Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
|
23841 | USD |
