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Note 8 - Warrants | 12 Months Ended
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Dec. 31, 2014
Warrants and Rights Note Disclosure [Abstract] |
Warrants | NOTE 8 — Warrants The Company has the following outstanding warrants to purchase common stock at December 31, 2014:
Reason |  | Number of Shares |  | Price Per Share |  | Issue Date |  | Expiration Date
Common stock financing |  |  | 35,775 |  |  | $ | 1.80 |  |  | May 2009 |  | June 2016
Senior convertible note financing (fully converted in 2011) (a) |  |  | 277,600 |  |  | $ | 1.25 |  |  | Nov 2010 |  | May 2016
|  |  | 313,375 |  |  |  |  |  |  |  |  |
The Company had the following outstanding warrants to purchase common stock at December 31, 2013:
Reason |  | Number of Shares |  | Price Per Share |  | Issue Date |  | Expiration Date
Common stock financing |  |  | 57,776 |  |  | $ | 1.80 |  |  | May 2009 |  | May 2014
Senior convertible note financing (fully converted in 2011) (a) |  |  | 1,073,600 |  |  | $ | 1.25 |  |  | Nov 2010 |  | May 2016
|  |  | 1,131,376 |  |  |  |  |  |  |  |  |
| (a) | In conjunction with a settlement agreement, the warrant was amended on December 31, 2013 to reset the conversion price under the anti-dilution terms of the warrant from the original $2.44 per share to $1.25 per share, and to increase the common shares issuable upon conversion from 550,000 shares to 976,000 shares (see “Legal Matters” within “NOTE 6 — Commitments and Contingencies” for more information).

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- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=51659978&loc=d3e25284-112666 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(i)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 28 -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
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