Shareholders' Equity (Details Narrative)
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12 Months Ended |
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May 10, 2019 |
May 01, 2019
shares
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Mar. 25, 2019
USD ($)
Integer
$ / shares
shares
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Mar. 25, 2019
Integer
$ / shares
shares
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Feb. 01, 2019
shares
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Jul. 17, 2018
USD ($)
$ / shares
shares
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Jul. 17, 2018
USD ($)
$ / shares
shares
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Jun. 22, 2018
USD ($)
shares
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Apr. 06, 2018
$ / shares
shares
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Mar. 09, 2018
shares
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Nov. 08, 2017
USD ($)
Investors
$ / shares
shares
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Jul. 25, 2017
USD ($)
$ / shares
shares
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May 10, 2017
USD ($)
Investors
$ / shares
shares
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Dec. 31, 2019
USD ($)
Integer
$ / shares
shares
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Dec. 31, 2018
USD ($)
$ / shares
shares
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Jan. 08, 2018
$ / shares
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Class of Stock [Line Items] |
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Common stock, par value | $ / shares |
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$ 0.001
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$ 0.001
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$ 0.001
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Warrants exercise price per share | $ / shares |
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$ 1.74
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Proceeds from public offering | $ |
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$ 12,400,000
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Deemed dividend | $ |
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$ 1,412,041
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Trading days | Integer |
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21
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Class of warrants exercised |
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9,505,500
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Preferred stock, shares authorized |
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50,000,000
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50,000,000
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Number of shares issued upon conversion, value | $ |
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Preferred stock, par value | $ / shares |
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Warrant outstanding |
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26,538,593
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Stock option outstanding |
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2,486,365
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1,812,133
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Common stock outstanding |
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46,124,803
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29,433,135
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2012 Equity Incentive Plan [Member] |
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Class of Stock [Line Items] |
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Stock option outstanding |
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2,486,365
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Frederick Telling [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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100,000
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100,000
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Alan Dunton [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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20,000
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20,000
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Dr. Frederick Telling [Member] | Restricted Stock [Member] | 2012 Equity Incentive Plan [Member] |
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Class of Stock [Line Items] |
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Restricted shares awarded to each non-employee director |
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4,000
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Charles Pope [Member] | Restricted Stock [Member] | 2012 Equity Incentive Plan [Member] |
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Class of Stock [Line Items] |
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Restricted shares awarded to each non-employee director |
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4,000
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Alan Dunton [Member] | Restricted Stock [Member] | 2012 Equity Incentive Plan [Member] |
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Class of Stock [Line Items] |
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Restricted shares awarded to each non-employee director |
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4,000
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Robert Koski [Member] | Restricted Stock [Member] | 2012 Equity Incentive Plan [Member] |
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Class of Stock [Line Items] |
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Restricted shares awarded to each non-employee director |
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4,000
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Non Employee Directors [Member] | 2012 Equity Incentive Plan [Member] |
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Class of Stock [Line Items] |
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Recognized compensation expense relating to restricted stock awards | $ |
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$ 24,320
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Series D Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of common stock issued in offering |
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9,364,000
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Proceeds from public offering | $ |
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$ 5,000,000
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Deemed dividend | $ |
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$ 1,400,000
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Convertible into shares of common stock |
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9,364,000
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Convertible preferred stock, number of shares of common stock |
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9,364,000
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Series A Convertible Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of shares issued upon conversion, convertible preferred stock |
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258,300
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Number of preferred stock converted |
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2,583,000
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Series A Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Term of warrants |
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7 years
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Preferred stock, shares authorized |
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12,000,000
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Preferred stock outstanding |
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9,417,000
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9,417,000
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Series B Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Share price per unit | $ / shares |
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$ 2.50
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Preferred stock, shares authorized |
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6,600,000
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Preferred stock outstanding |
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6,600,000
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6,600,000
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Series C Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Description on preferred stock, conversion basis |
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Upon any liquidation, dissolution or winding-up by us, whether voluntary or involuntary, the holders of Series C Preferred Stock shall be entitled to receive, in preference to the Junior Securities, an amount of cash equal to the product of (i) sum of (a) the number of shares of Series C Preferred Stock then held by such holder plus, (b) the number of shares of Series C Preferred Stock issuable to such holder in connection with any accrued but unpaid dividends, multiplied by (ii) the Stated Value, of $33,847.9874 per share, of Series C Preferred Stock ("the Series C Liquidation Amount") and no distribution or payments shall be made in respect of any Junior Securities unless all Series C Liquidation Amounts, if any, are first paid in full.
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Preferred stock shares designated |
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1,000
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Preferred stock dividend rate |
20.00%
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12.00%
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Preferred stock outstanding |
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113.941
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101.733
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Series C Preferred Stock [Member] | Precigen Note [Member] |
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Class of Stock [Line Items] |
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Number of common stock issued in offering |
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100
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Preferred stock, par value | $ / shares |
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$ 100
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Series D Convertible Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Description on preferred stock, conversion basis |
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Series D Preferred Stock to convert all or part of such holder's Series D Preferred Stock in the event that (i) the volume weighted average price of our common stock for each of 30 consecutive trading days exceeds $3.00 (subject to adjustment for stock splits, recapitalizations, stock dividends and similar transactions), (ii) the average daily trading volume for such measurement period exceeds $175,000 per trading day and (iii) the holder is not in possession of any information that constitutes or might constitute, material non-public information which was provided by the Company.
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Common Stock [Member] |
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Class of Stock [Line Items] |
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Number of shares issued upon conversion, convertible preferred stock |
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258,300
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Number of common stock issued in offering |
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4,436,000
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16,666,668
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900,000
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Proceeds from public offering | $ |
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$ 2,300,000
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Issuance of stock as partial consideration for acquisition of certain services |
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12,500
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12,500
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25,000
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25,000
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Number of shares issued upon conversion, value | $ |
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$ 258
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Warrant [Member] |
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Class of Stock [Line Items] |
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Proceeds from public offering | $ |
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$ 6,500,000
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Warrant outstanding |
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26,538,593
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Warrant [Member] | Series D Convertible Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Description on preferred stock, conversion basis |
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Number of shares of Common Stock in excess of 4.99% of the shares of Common Stock then outstanding (or, upon election by a Holder prior to the issuance of the Warrants, 9.99%). At the holder's option, upon notice to the Company, the holder may increase or decrease this beneficial ownership limitation not to exceed 9.99% of the shares of Common Stock then outstanding, with any such increase becoming effective upon 61 days' prior notice to the Company
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Series 1 Warrant [Member] | Dr. Frederick Telling [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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50,000
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50,000
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Series 1 Warrant [Member] | Dr. Alan Joslyn [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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33,333
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33,333
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Series 2 Warrant [Member] | Dr. Frederick Telling [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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50,000
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50,000
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Series 2 Warrant [Member] | Dr. Alan Joslyn [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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33,333
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33,333
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Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of shares issued upon conversion, convertible preferred stock |
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(2,583,000)
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Number of common stock issued in offering |
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Issuance of stock as partial consideration for acquisition of certain services |
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Number of shares issued upon conversion, value | $ |
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$ (268,096)
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Preferred Stock [Member] | Series D Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of preferred stock converted |
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9,364,000
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Stock Options [Member] |
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Class of Stock [Line Items] |
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Stock option outstanding |
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2,486,365
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Securities Purchase Agreement [Member] | Institutional Investors [Member] |
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Class of Stock [Line Items] |
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Warrants exercise price per share | $ / shares |
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$ 2.00
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Number of sale of common stock |
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900,000
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Sale of stock price per common stock | $ / shares |
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$ 2.00
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Securities Purchase Agreement [Member] | Series D Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of shares issued upon conversion, convertible preferred stock |
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9,364,000
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|
|
|
|
|
|
|
Number of preferred stock converted |
|
|
|
|
|
|
9,364,000
|
|
|
|
|
|
|
|
|
|
Securities Purchase Agreement [Member] | Series A Convertible Preferred Stock [Member] | Three Accredited Investors [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of accredited investors | Investors |
|
|
|
|
|
|
|
|
|
|
|
|
3
|
|
|
|
Proceeds from convertible preferred stock | $ |
|
|
|
|
|
|
|
|
|
|
|
|
$ 3,000,000
|
|
|
|
Description on preferred stock, conversion basis |
|
|
|
|
|
|
|
|
|
|
|
|
The full $3,000,000 of Preferred Stock, and after giving effect to the reverse stock split and the previous conversion of 2,583,000 shares of Series A Preferred Stock into 258,300 shares of the Company's common stock, is convertible into nine hundred, forty one thousand, seven hundred and one shares of our common stock, based on a fixed conversion price of $2.50 per share on an as-converted basis.
|
|
|
|
Securities Purchase Agreement [Member] | Series A Convertible Preferred Stock [Member] | Three Accredited Investors [Member] | First Closing [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from convertible preferred stock | $ |
|
|
|
|
|
|
|
|
|
|
|
|
$ 1,302,000
|
|
|
|
Securities Purchase Agreement [Member] | Series A Convertible Preferred Stock [Member] | Three Accredited Investors [Member] | Second Closing [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from convertible preferred stock | $ |
|
|
|
|
|
|
|
|
|
|
|
$ 1,698,000
|
|
|
|
|
Securities Purchase Agreement [Member] | Series A Preferred Stock [Member] | Three Accredited Investors [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fixed conversion price per share | $ / shares |
|
|
|
|
|
|
|
|
|
|
|
|
$ 2.50
|
|
|
|
Securities Purchase Agreement [Member] | Common Stock [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
|
|
|
|
|
|
900,000
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
|
|
|
|
|
|
$ 2.00
|
|
|
|
|
|
|
|
Number of shares issued upon conversion, convertible preferred stock |
|
|
|
|
|
|
4,436,000
|
|
|
|
|
|
|
|
|
|
Debt Conversion Agreement [Member] | Precigen Note [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt instrument aggregate amount including accrued interest | $ |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 3,400,000
|
|
|
Debt Conversion Agreement [Member] | Unsecured Non-Convertible Preferred Stock [Member] | Precigen Note [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares issued upon conversion, value | $ |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ 2,400,000
|
|
|
2018 Public Offerings [Member] | Securities Purchase Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares agreed to issue |
|
|
|
|
|
|
|
|
900,000
|
|
|
|
|
|
|
|
Common stock, par value | $ / shares |
|
|
|
|
|
|
|
|
$ 0.001
|
|
|
|
|
|
|
|
Share price per unit | $ / shares |
|
|
|
|
|
|
|
|
$ 2.00
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
|
|
|
1,800,000
|
1,800,000
|
|
|
|
|
|
|
|
|
|
Exercisable term of warrants, description |
|
|
|
|
|
|
|
|
Each warrant is exercisable beginning on the six-month anniversary of the date of its issuance and will expire five years from the date of issuance.
|
|
|
|
|
|
|
|
Term of warrants |
|
|
|
|
|
|
|
|
5 years
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Proceeds from public offering | $ |
|
|
$ 12,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Dr. Frederick Telling [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
100,000
|
100,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Dr. Alan Joslyn [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
66,667
|
66,667
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Short Term Warrants [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
1,250,000
|
1,250,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
$ 0.75
|
$ 0.75
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable term of warrants |
|
|
|
18 months
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading days | Integer |
|
|
|
21
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Short Term Warrants [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
8,333,334
|
8,333,334
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
$ 0.75
|
$ 0.75
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Long Term Warrants [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
1,250,000
|
1,250,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
$ 0.90
|
$ 0.90
|
|
|
|
|
|
|
|
|
|
|
|
|
Term of warrants |
|
|
5 years
|
5 years
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Long Term Warrants [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
8,333,334
|
8,333,334
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
$ 0.75
|
$ 0.75
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Common Stock [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of common stock issued in offering |
|
|
16,666,668
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Common Stock [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares of stock available for purchase |
|
|
|
2,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Common Stock [Member] | Short Term Warrants and Long Term Warrants [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of common stock issued in offering |
|
|
16,666,668
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Warrant [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
|
|
|
13,800,000
|
13,800,000
|
|
|
|
|
|
|
9,505,500
|
|
|
Number of common stock issued in offering |
|
|
|
|
|
|
13,800,000
|
|
|
|
|
|
|
|
|
|
Proceeds from public offering | $ |
|
|
$ 12,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Short Term Warrants [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
1,250,000
|
1,250,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
$ 0.75
|
$ 0.75
|
|
|
|
|
|
|
|
|
|
|
|
|
Exercisable term of warrants |
|
|
18 months
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trading days | Integer |
|
|
21
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Short Term Warrants [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
8,333,334
|
8,333,334
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
$ 0.75
|
$ 0.75
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Long Term Warrants [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
1,250,000
|
1,250,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
$ 0.90
|
$ 0.90
|
|
|
|
|
|
|
|
|
|
|
|
|
Term of warrants |
|
|
5 years
|
5 years
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Long Term Warrants [Member] | Maximum [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
8,333,334
|
8,333,334
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
$ 0.75
|
$ 0.75
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Warrants [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of shares of stock available for purchase |
|
|
|
2,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Securities Purchase Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
|
|
|
13,800,000
|
13,800,000
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Securities Purchase Agreement [Member] | Class A Units [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share price per unit | $ / shares |
|
|
|
|
|
$ 1.00
|
$ 1.00
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
|
|
|
$ 1.00
|
$ 1.00
|
|
|
|
|
|
|
|
|
|
Term of warrants |
|
|
|
|
|
7 years
|
7 years
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Securities Purchase Agreement [Member] | Class B Units [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share price per unit | $ / shares |
|
|
|
|
|
$ 1.00
|
$ 1.00
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | Class A Units [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share price per unit | $ / shares |
|
|
|
|
|
1.00
|
1.00
|
|
|
|
|
|
|
|
|
|
Warrants exercise price per share | $ / shares |
|
|
|
|
|
$ 1.00
|
$ 1.00
|
|
|
|
|
|
|
|
|
|
Term of warrants |
|
|
|
|
|
7 years
|
7 years
|
|
|
|
|
|
|
|
|
|
Underwritten Public Offering [Member] | Securities Purchase Agreement [Member] | Warrant [Member] | Class B Units [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Share price per unit | $ / shares |
|
|
|
|
|
$ 1.00
|
$ 1.00
|
|
|
|
|
|
|
|
|
|
Over Allotment Option [Member] | Securities Purchase Agreement [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of warrants to purchase common stock |
|
|
|
|
|
1,800,000
|
1,800,000
|
|
|
|
|
|
|
|
|
|
Public Offering [Member] |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Class of Stock [Line Items] |
|
|
|
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Proceeds from public offering | $ |
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$ 13,800,000
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Description on preferred stock, conversion basis |
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The Public Offering was comprised of Class A Units, priced at a public offering price of $1.00 per unit, with each unit consisting of one share of common stock and a seven-year warrant to purchase one share of common stock with an exercise price of $1.00 per share, and Class B Units, priced at a public offering price of $1.00 per unit, with each unit comprised of one share of series D preferred stock, with a par value of $0.001 per share, (the "Series D Preferred Stock"), which is convertible into one share of common stock, and a warrant. The conversion price of the Series D Preferred Stock issued in the transaction as well as the exercise price of the warrants are fixed and do not contain any variable pricing features or any price based anti-dilutive features. The Series D Preferred Stock issued in this transaction included a beneficial ownership blocker but has no dividend rights (except to the extent that dividends are also paid on the common stock), liquidation preference or other preferences over common stock, and, with certain exceptions, has no voting rights. The securities comprising the units were immediately separable and were issued separately.
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Public Offering [Member] | Frederick Telling [Member] |
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Class of Stock [Line Items] |
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Number of common stock issued in offering |
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100,000
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Public Offering [Member] | Alan Dunton [Member] |
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Class of Stock [Line Items] |
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Number of common stock issued in offering |
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20,000
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Public Offering [Member] | Class A Units [Member] |
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Class of Stock [Line Items] |
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Share price per unit | $ / shares |
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$ 1.00
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$ 1.00
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Number of warrants to purchase common stock |
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1
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1
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Warrants exercise price per share | $ / shares |
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$ 1.00
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$ 1.00
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Term of warrants |
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7 years
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7 years
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Public Offering [Member] | Class B Units [Member] |
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Class of Stock [Line Items] |
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Share price per unit | $ / shares |
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$ 1.00
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$ 1.00
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Public Offering [Member] | Series D Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Preferred stock, par value | $ / shares |
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$ 0.001
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$ 0.001
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Public Offering [Member] | Series D Convertible Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Proceeds from public offering | $ |
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$ 13,800,000
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Public Offering [Member] | Common Stock [Member] |
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Class of Stock [Line Items] |
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Number of common stock issued in offering |
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9,505,500
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Underwriter [Member] | Short Term Warrants [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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1,250,000
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1,250,000
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Underwriter [Member] | Long Term Warrants [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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1,250,000
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1,250,000
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Underwriter [Member] | Short Term Warrants [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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1,250,000
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1,250,000
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Underwriter [Member] | Long Term Warrants [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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1,250,000
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1,250,000
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Preferred Stock Issued Upon Initial Closing [Member] | Series A Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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462,106
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Warrants exercise price per share | $ / shares |
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$ 3.10
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Preferred Stock Issued Upon Second Closing [Member] | Series A Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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602,414
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Warrants exercise price per share | $ / shares |
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$ 3.10
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Private Placement [Member] | Series B Convertible Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of accredited investors | Investors |
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4
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Description on preferred stock, conversion basis |
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The full $3,300,000 of Series B Convertible Preferred Stock is convertible, after giving effect to the reverse stock split into one million three hundred and twenty thousand and two shares of our Common Stock, based on a conversion of one share of Series B Preferred Stock into two shares of Common Stock. The purchase price per share of the Series B Preferred Stock is represented by $2.50 per share of the Common Stock on an as converted basis.
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Proceeds from issuance of private placement | $ |
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$ 3,300,000
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Private Placement [Member] | Warrant [Member] | Series B Preferred Stock [Member] |
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Class of Stock [Line Items] |
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Number of warrants to purchase common stock |
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1,064,518
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Warrants exercise price per share | $ / shares |
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$ 3.10
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Term of warrants |
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7 years
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