Quarterly Results

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information [Text Block]

Note 13 – Quarterly Results (unaudited)

Quarterly results for the years ended December 31, 2016 and 2015 are as follows:

	First		Second		Third		Fourth
For the year ended December 31, 2016	Quarter		Quarter		Quarter		Quarter
Revenue	$	-	$	-	$	260,000	$	361,000
Gross Profit (Loss)	$	-	$	-	$	213,000	$	(77,000)
Operating Expense	$	2,601,000	$	2,442,000	$	4,066,000	$	2,232,000
Net Loss	$	(2,589,000)	$	(2,431,000)	$	(3,846,000)	$	(2,306,000)
Net Loss per share - basic and fully diluted	$	(0.20)	$	(0.19)	$	(0.30)	$	(0.17)

For the year ended December 31, 2015
Revenue	$	-	$	-	$	-	$	61,000
Gross Profit	$	-	$	-	$	-	$	11,000
Operating Expense	$	1,592,000	$	1,810,000	$	1,969,000	$	2,582,000
Net Loss	$	(1,583,000)	$	(1,796,000)	$	(1,961,000)	$	(2,558,000)
Net Loss per share - basic and fully diluted	$	(0.14)	$	(0.14)	$	(0.15)	$	(0.20)

For the year ended December 31, 2016 the Company recorded a bonus expense of $660,000 which was recorded in the first three quarters of the year. As described in Note 14, a substantial portion of these accrued bonuses were paid in February 2017 through employee stock grants.

The Company recorded a number of adjustments in the fourth quarter of 2015 including an expense of $588,000 described in Note 4 related to the impairment loss from the abandonment of certain capitalized patents pending.