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Note 2 - Sale and Deconsolidation of GMI and Discontinued Operations (Tables) | 3 Months Ended
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Mar. 31, 2024
Notes Tables |
Disposal Groups, Including Discontinued Operations, Consideration Received [Table Text Block] |
Consideration |  | Amount |  | Description and Valuation Methodology
Cash at closing |  | $ | 935,974 |  | Cash received at closing less estimated value of transition services to be provided.
Cash after closing |  |  | 133,148 |  | Actual cash operating expenses of GMI from March 1 through March 17, 2023 (prior to the transfer of GMI to GMDC).
GMDC common stock |  |  | 581,000 |  | Based on Series A preferred stock issuance to other GMDC investors for $3,000,000 in cash and application of an option pricing model backsolve method and a minority interest discount to estimate the fair value of the common shares of GMDC.
Contingent payments |  |  | 682,000 |  | Estimated by applying a discount rate of 40.8% to the projected cash receipts expected over the 7-year horizon. (See Note 5).
Total consideration |  | $ | 2,332,122 |  |
Disposal Groups, Including Discontinued Operations [Table Text Block] |
|  | Three Months Ended March 31, |
|  | 2024 |  |  | 2023 |
Revenue |  | $ | - |  |  | $ | - |
Cost of revenue |  |  | - |  |  |  | 74,223 |
Excess of contract costs over revenue |  |  | - |  |  |  | (74,223 | )
Operating expenses - |  |  |  |  |  |  |  |
Salaries and benefits |  |  | - |  |  |  | 484,249 |
Intangibles amortization |  |  | - |  |  |  | 85,338 |
Stock based compensation, before forfeitures |  |  | - |  |  |  | 65,487 |
Forfeiture of stock options |  |  | - |  |  |  | (407,322 | )
Other operating expenses |  |  | - |  |  |  | 134,633 |
Gain on disposal of business |  |  | - |  |  |  | (100,615 | )
Loss before income tax benefit |  |  | - |  |  |  | (335,993 | )
Income tax benefit |  |  | - |  |  |  | - |
Net loss on discontinued operations |  | $ | - |  |  | $ | (335,993 | )

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