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Note 15 - Restatement to Previously Issued Condensed Consolidated Financial Statements | 12 Months Ended
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Dec. 31, 2018
Notes to Financial Statements |
Reclassifications [Text Block] | NOTE 15: RESTATEMENT TO PREVIOUSLY ISSUED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS The Company has corrected an inadvertent error in the calculation of the deemed dividend on Series B convertible preferred stock in the financial statements for the three and six months ended June 30, 2018 that were included in the Company’s Form 10 -Q filed on August 13, 2018 ( the “Original Form 10 -Q”). Accounting principles generally accepted in the United States of America require that we allocate the proceeds from the May 2018 financing to the warrants and preferred stock issued in the financing and that we estimate and record any discount on the securities as a deemed dividend. In the financial statements included in the Original Form 10 -Q, we did not properly allocate the proceeds to the warrants, and we did not properly record the deemed dividend related to the warrant discount as additional paid in capital to common stock. The Company incorrectly stated the deemed dividend for the three and six months ended June 30, 2018 as $4,782,100, rather than $11,479,308. The corrections result from application of technical accounting rules and do not impact cash or operations. In accordance with applicable generally accepted accounting principles, the Company has calculated and recognized adjustments accordingly. The following table shows the effect of the restatement on certain line items within the Company’s Condensed Consolidated Statement of Operations for the three months and six months ended June 30, 2018:
|  | For the Three Months Ended June 30, 2018 |  |  | For the Six Months Ended June 30, 2018 |
|  | Previously Reported |  |  | Restated |  |  | Previously Reported |  |  | Restated |
Deemed dividend attributable to preferred stock |  | $ | (4,782,100 | ) |  | $ | (11,479,308 | ) |  | $ | (4,782,100 | ) |  | $ | (11,479,308 | )
Net loss applicable to common stockholders |  | $ | (8,924,677 | ) |  | $ | (15,621,885 | ) |  | $ | (10,799,059 | ) |  | $ | (17,496,267 | )
Loss per common share -basic and diluted |  | $ | (2.90 | ) |  | $ | (5.08 | ) |  | $ | (3.77 | ) |  | $ | (6.11 | )
The following table shows the effect of the restatement on certain line items within the Company’s Condensed Consolidated Statement of Stockholders’ Equity for the six months ended June 30, 2018:
|  | Preferred Stock Additional Paid-in Capital |  |  | Common Stock Additional Paid-in Capital |
|  | Previously Reported |  |  | Restated |  |  | Previously Reported |  |  | Restated |
Issuance of Series B convertible preferred stock, net of issuance costs |  | $ | 12,290,537 |  |  | $ | 6,926,778 |  |  | $ | 0 |  |  | $ | 5,363,759 |
Deemed Dividend on Series B convertible preferred stock |  | $ | 4,782,100 |  |  | $ | 11,479,308 |  |  | $ | (4,782,100 | ) |  | $ | (11,479,308 | )
Conversion of Series B convertible preferred stock to common stock |  | $ | (7,056,421 | ) |  | $ | (7,821,992 | ) |  | $ | 6,656,442 |  |  | $ | 7,422,013 |

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- Definition The entire disclosure for classifying current financial statements, which may be different from classifications in the prior year's financial statements. Disclose any material changes in classification including an explanation of the reason for the change and the areas impacted. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -URI http://asc.fasb.org/topic&trid=2122149 + Details
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