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Note 5 - Bridge Loan Payable - Stockholder | 12 Months Ended
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Dec. 31, 2016
Notes to Financial Statements |
Debt Disclosure [Text Block] | NOTE 5 – BRIDGE LOAN PAYABLE – STOCKHOLDER During January 1, 2015 through February 12, 2016, the Company had entered into a series of bridge loan arrangements for total borrowings received and interest accrued of $425,265 ($399,103 at December 31, 2015) with a major Stockholder and Chairman. The proceeds were used to fund research, development and the general operating activity of the Company. The Company has guaranteed the payment of all principal and interest in the form of the Company’s common stock at a purchase price of $1.25 per share. The loan bears interest at a rate of 10% per annum. The Company recorded interest expense of $7,162 and $11,473 for the years ended December 31, 2016 and 2015, respectively. On February 12, 2016, the Company settled $350,000 of principal and interest by issuing shares of Series B Preferred Stock in the Private Offering at a price of $1.25 per share as part of its private offering. On June 17, 2016, the Company settled the remaining $75,265 in principal and accrued interest by issuing shares of Common Stock at a price of $1.25 per share.

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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 470 -URI http://asc.fasb.org/topic&trid=2208564 + Details
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