Quarterly report pursuant to Section 13 or 15(d)

Shareholders' Equity (Tables)

v3.19.3
Shareholders' Equity (Tables)
 9 Months Ended
Sep. 30, 2019
Equity [Abstract]  
Summary of Changes in Shareholders' Equity

A summary of the changes in shareholders’ equity for the three and nine months ended September 30, 2019 and 2018 is as follows:

 

                Additional           Total  
    Common Stock     Preferred Stock     Paid In     Accumulated     Shareholders’  
    Shares     Amount     Shares     Amount     Capital     Deficit     Equity  
Balances at December 31, 2018     29,433,135     $ 29,433       16,017,101.733     $ 6,100,182     $ 126,125,976     $ (111,373,608 )   $ 20,881,983  
Compensation expense relating to option issuances     —       —       —       —       145,829       —       145,829  
Issuance of common stock - shelf takedown, net of expenses     16,666,668       16,667       —       —       11,399,009       —       11,415,676  
Issuance of common stock in exchange for services     12,500       12       —       —       5,988       —       6,000  
Series C dividend     —       —       12.208       413,214       —       (413,214 )     —  
Net loss     —       —       —       —       —       (3,325,717 )     (3,325,717 )
Balances at March 31, 2019     46,112,303     $ 46,112       16,017,113.941     $ 6,513,396     $ 137,676,802     $ (115,112,539 )   $ 29,123,771  
Compensation expense relating to option issuances     —       —       —       —       164,588       —       164,588  
Issuance of common stock - shelf takedown, net of expenses     —       —       —       —       (65,000 )     —       (65,000 )
Issuance of common stock in exchange for services     12,500       13       —       —       5,988       —       6,001  
Net loss     —       —       —       —       —       (4,806,460 )     (4,806,460 )
Balances at June 30, 2019     46,124,803     $ 46,125       16,017,113.941     $ 6,513,396     $ 137,782,378     $ (119,918,999 )   $ 24,422,900  
Compensation expense relating to option issuances     —       —       —       —       232,175       —       232,175  
Net loss     —       —       —       —       —       (3,836,549 )     (3,836,549 )
Balances at September 30, 2019     46,124,803     $ 46,125       16,017,113.941     $ 6,513,396     $ 138,014,553     $ (123,755,548 )   $ 20,818,526  

 

                Additional           Total  
    Common Stock     Preferred Stock     Paid In     Accumulated     Shareholders’  
    Shares     Amount     Shares     Amount     Capital     Deficit     Equity  
Balances at December 31, 2017     4,928,335     $ 4,928       18,600,100.000     $ 6,309,608     $ 101,402,570     $ (101,400,797 )   $ 6,316,309  
Compensation expense relating to option issuances     —       —       —       —       118,324       —       118,324  
Conversion of Series A preferred stock to common stock     258,300       259       (2,583,000 )     (268,096 )     267,837       —       —  
Series C dividend     —       —       1.733       58,670       —       (58,670 )     —  
Net loss     —       —       —       —       —       (2,119,397 )     (2,119,397 )
Balances at March 31, 2018     5,186,635     $ 5,187       16,017,101.7330     $ 6,100,182     $ 101,788,731     $ (103,578,864 )   $ 4,315,236  
Compensation expense relating to option issuances     —       —       —       —       81,986       —       81,986  
Issuance of common stock - shelf takedown, net of expenses     900,000       900       —       —       1,509,427       —       1,510,327  
Issuance of restricted common stock     16,000       16       —       —       24,304       —       24,320  
Net loss     —       —       —       —       —       (2,281,289 )     (2,281,289 )
Balances at June 30, 2018     6,102,635     $ 6,103       16,017,101.733     $ 6,100,182     $ 103,404,448     $ (105,860,153 )   $ 3,650,580  
Compensation expense relating to option issuances     —       —       —       —       648,302       —       648,302  
Issuance of common stock, Series D preferred stock, and warrants, net of expenses     4,436,000       4,436       9,364,000       4,464,107       7,963,085       —       12,431,628  
Conversion of Series D preferred stock to common stock     7,868,000       7,868       (7,868,000 )     (3,750,920 )     3,743,052       —       —  
Issuance of common stock in exchange for services     12,500       12       —       —       5,988       —       6,000  
Net loss     —       —       —       —       —       (2,757,835 )     (2,757,835 )
Balances at September 30, 2018     18,419,135     $ 18,419       17,513,101.733     $ 6,813,369     $ 115,764,875     $ (108,617,988 )   $ 13,978,675