0001437749-20-023676 | 10-Q | XBRL Viewer | Diffusion Pharmaceuticals INC

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Document And Entity Information - shares	9 Months Ended
Document And Entity Information - shares	Sep. 30, 2020	Nov. 11, 2020
Document Information [Line Items]
Entity Registrant Name	Diffusion Pharmaceuticals Inc.
Entity Central Index Key	0001053691
Trading Symbol	dffn
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Current Reporting Status	Yes
Entity Emerging Growth Company	false
Entity Small Business	true
Entity Interactive Data Current	Yes
Entity Common Stock, Shares Outstanding (in shares)		64,015,441
Entity Shell Company	false
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Title of 12(b) Security	Common Stock, par value $0.001 per share

Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 21,910,183	$ 14,177,349
Prepaid expenses, deposits, and other current assets	766,932	472,464
Total current assets	22,677,115	14,649,813
Property and equipment, net	174,133	252,366
Intangible asset	8,639,000	8,639,000
Right of use asset	174,668	247,043
Other assets	252,057	322,301
Total assets	31,916,973	24,110,523
Current liabilities:
Accounts payable	1,411,717	1,251,412
Accrued expenses and other current liabilities	1,162,278	358,532
Current operating lease liability	112,953	111,477
Total current liabilities	2,686,948	1,721,421
Deferred income taxes	443,893	2,119,274
Noncurrent operating lease liability	61,715	135,566
Total liabilities	3,192,556	3,976,261
Commitments and Contingencies (Note 7)
Stockholders’ Equity:
Common stock, $0.001 par value: 1,000,000,000 shares authorized; 64,015,441 and 33,480,365 shares issued and outstanding at September 30, 2020 and December 31, 2019, respectively	64,016	33,481
Additional paid-in capital	130,507,728	111,824,859
Accumulated deficit	(101,847,327)	(91,724,078)
Total stockholders' equity	28,724,417	20,134,262
Total liabilities and stockholders' equity	$ 31,916,973	$ 24,110,523

Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	64,015,441	33,480,365
Common stock, shares outstanding (in shares)	64,015,441	33,480,365

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Operating expenses:
Research and development	$ 3,137,553	$ 1,743,494	$ 6,845,203	$ 4,961,720
General and administrative	2,112,375	1,290,371	4,964,440	3,559,551
Depreciation	24,192	18,178	78,233	70,840
Loss from operations	(5,274,120)	(3,052,043)	(11,887,876)	(8,592,111)
Other income:
Interest income	29,233	21,991	89,246	59,596
Loss from operations before income tax benefit	(5,244,887)	(3,030,052)	(11,798,630)	(8,532,515)
Income tax benefit	805,676	225,960	1,675,381	485,216
Net loss	(4,439,211)	(2,804,092)	(10,123,249)	(8,047,299)
Deemed dividend arising from warrant exchange			(1,950,378)
Net loss attributable to common stockholders	$ (4,439,211)	$ (2,804,092)	$ (12,073,627)	$ (8,047,299)
Per share information:
Net loss per share of common stock, basic and diluted (in dollars per share)	$ (0.07)	$ (0.60)	$ (0.24)	$ (2.01)
Weighted average shares outstanding, basic and diluted (in dollars per share)	$ 64,011,342	$ 4,693,290	$ 50,216,239	$ 4,005,919

Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2018	3,376,230
Balance at Dec. 31, 2018	$ 3,377	$ 95,532,881	$ (79,924,699)	$ 15,611,559
Stock-based compensation expense		385,605		385,605
Net loss			(8,047,299)	(8,047,299)
Issuance of common stock and warrants, net of issuance costs (in shares)	1,317,060
Issuance of common stock and warrants, net of issuance costs	$ 1,317	5,567,633		5,568,950
Balance (in shares) at Sep. 30, 2019	4,693,290
Balance at Sep. 30, 2019	$ 4,694	101,486,119	(87,971,998)	13,518,815
Balance (in shares) at Jun. 30, 2019	4,693,290
Balance at Jun. 30, 2019	$ 4,694	101,340,798	(85,167,906)	16,177,586
Stock-based compensation expense		145,321		145,321
Net loss			(2,804,092)	(2,804,092)
Balance (in shares) at Sep. 30, 2019	4,693,290
Balance at Sep. 30, 2019	$ 4,694	101,486,119	(87,971,998)	13,518,815
Balance (in shares) at Dec. 31, 2019	33,480,365
Balance at Dec. 31, 2019	$ 33,481	111,824,859	(91,724,078)	20,134,262
Stock-based compensation expense		584,297		584,297
Net loss			(10,123,249)	(10,123,249)
Issuance of common stock and warrants, net of issuance costs (in shares)	11,428,572
Issuance of common stock and warrants, net of issuance costs	$ 11,429	10,330,202		10,341,631
Issuance of common stock upon exercise of warrants (in shares)	19,106,504
Issuance of common stock upon exercise of warrants	$ 19,106	7,768,370		7,787,476
Balance (in shares) at Sep. 30, 2020	64,015,441
Balance at Sep. 30, 2020	$ 64,016	130,507,728	(101,847,327)	28,724,417
Balance (in shares) at Jun. 30, 2020	63,998,298
Balance at Jun. 30, 2020	$ 63,999	130,220,772	(97,408,116)	32,876,655
Stock-based compensation expense		279,473		279,473
Net loss			(4,439,211)	(4,439,211)
Issuance of common stock upon exercise of warrants (in shares)	17,143
Issuance of common stock upon exercise of warrants	$ 17	7,483		7,500
Balance (in shares) at Sep. 30, 2020	64,015,441
Balance at Sep. 30, 2020	$ 64,016	$ 130,507,728	$ (101,847,327)	$ 28,724,417

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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Amount of stockholders' equity (deficit), net of receivables from officers, directors, owners, and affiliates of the entity, attributable to both the parent and noncontrolling interests. Amount excludes temporary equity. Alternate caption for the concept is permanent equity.

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+ Details

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Operating activities:
Net loss	$ (10,123,249)	$ (8,047,299)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	78,233	70,840
Stock-based compensation expense	584,297	385,605
Change in deferred income taxes	(1,675,381)	(485,216)
Changes in operating assets and liabilities:
Prepaid expenses, deposits, and other assets	(224,224)	352,252
Accounts payable, accrued expenses, and other liabilities	1,202,283	303,466
Net cash used in operating activities	(10,158,041)	(7,420,352)
Cash flows provided by financing activities:
Proceeds from the sale of common stock	10,827,100	5,731,779
Proceeds from the exercise of common stock warrants	8,046,103
Payment of issuance costs	(982,328)	(162,829)
Net cash provided by financing activities	17,890,875	5,568,950
Net increase (decrease) in cash and cash equivalents	7,732,834	(1,851,402)
Cash and cash equivalents at beginning of period	14,177,349	7,991,172
Cash and cash equivalents at end of period	21,910,183	6,139,770
Supplemental disclosure of non-cash investing and financing activities:
Operating lease right of use asset and current and noncurrent liability		$ 334,205

Note 1 - Organization and Description of Business

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Nature of Operations [Text Block]

1.	Organization and Description of Business

Diffusion Pharmaceuticals Inc., a Delaware corporation, is an innovative biopharmaceutical company developing novel therapies that enhance the body's ability to deliver oxygen to the areas where it is needed most. The Company's lead product candidate, TSC, is being developed to enhance the diffusion of oxygen to tissues with low oxygen levels, also known as hypoxia, a serious complication of many of medicine's most intractable and difficult-to-treat conditions.

TSC was designed to enhance the level of organization among water molecules by increasing the amount of hydrogen bonding. This creates a less dense matrix of water molecules, which facilitates the diffusion of oxygen molecules from areas of high to low oxygen concentrations, such as from oxygenated red blood cells into tissues where the oxygen is used to power the cells. In animal models, this diffusion-enhancing mechanism of action has been observed to affect hypoxic tissue preferentially while avoiding excessive oxygen-related tissue toxicity, also known as hyperoxia.

TSC previously has been demonstrated safe and tolerable in over

160

subjects included in the Company's clinical program across a variety of medical conditions often complicated by hypoxia, including the Company's clinical studies conducted in patients afflicted with GBM, peripheral artery disease with intermittent claudication, and stroke, as well as its ongoing

100

303

COVID Trial. In each of these conditions and many others, hypoxia is a significant contributor to morbidity and mortality, and a considerable treatment obstacle for medical providers.

September 2020,

the Company initiated the

100

303

COVID Trial, its ongoing Phase

clinical trial evaluating TSC in hospitalized COVID-

patients and, on

September 10, 2020,

the Company announced the dosing of the

first

two

patients in the trial. As of the date of this Quarterly Report, patient enrollment continues and

dose-limiting toxicities have been observed. However, given the complex design of the

100

303

COVID Trial, the sequential nature of patient enrollment thereunder, and the resulting challenges to expediting the trial when ordinary course delays are encountered, protocol the Company now expects the

100

303

COVID Trial to be completed with topline data available by the end of

first

quarter of

2021.

In addition to TSC, the Company's product candidate DFN-

529,

a novel, allosteric

PI3K/Akt/mTOR

pathway inhibitor, is in early-stage development. The Company previously completed

two

Phase

clinical trials evaluating DFN-

529

in age-related macular degeneration, and DFN-

529

was also previously in preclinical development in oncology, specifically GBM.

Note 2 - Liquidity

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Liquidity Disclosure [Text Block]

Liquidity

The Company has

not

generated any revenues from product sales and has funded operations primarily from the proceeds of public and private offerings of equity, convertible debt and convertible preferred stock. Substantial additional financing will be required by the Company to continue to fund its research and development activities.

assurance can be given that any such financing will be available when needed, or at all, or that the Company's research and development efforts will be successful.

The Company regularly explores alternative means of financing its operations and seeks funding through various sources, including public and private securities offerings, collaborative arrangements with

third

parties and other strategic alliances and business transactions. The Company does

not

have any commitments to obtain additional funds and

may

be unable to obtain sufficient funding in the future on acceptable terms, if at all. If the Company cannot obtain the necessary funding, it will need to delay, scale back or eliminate some or all of its research and development programs or enter into collaborations with

third

parties to commercialize potential products or technologies that it might otherwise seek to develop or commercialize independently; consider other various strategic alternatives, including a merger or sale of the Company; or cease operations. If the Company engages in collaborations, it

may

receive lower consideration upon commercialization of such products than if it had

not

entered such arrangements or if it entered into such arrangements at later stages in the product development process.

Operations of the Company are subject to certain risks and uncertainties including various internal and external factors that will affect whether and when the Company's product candidates become approved products and how significant their market share will be, some of which are outside of the Company's control. The length of time and cost of developing and commercializing the Company's product candidates and/or failure of them at any stage of the approval process will materially affect the Company's financial condition and future operations. The Company believes its cash and cash equivalents as of

September

30,

2020

are sufficient to fund operations into the

fourth

quarter of

2022.

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Significant Accounting Policies [Text Block]

3.	Basis of Presentation and Summary of Significant Accounting Policies

The Summary of Significant Accounting Policies included in the Form

-K have

not

materially changed, except as set forth below.

Basis of Presentation

The accompanying unaudited interim consolidated financial statements of the Company have been prepared in accordance with GAAP for interim financial information as found in the ASC and ASUs of the FASB, and with the instructions to Form

-Q and Article

of Regulation S-

of the SEC. In the opinion of management, the accompanying unaudited interim consolidated financial statements of the Company include all normal and recurring adjustments (which consist primarily of accruals, estimates and assumptions that impact the unaudited interim consolidated financial statements) considered necessary to present fairly the Company's financial position as of

September

30,

2020,

results of operations for the

three

and

nine

months ended

September

30,

2020

and

2019

and cash flows for the

nine

months ended

September

30,

2020

and

2019.

Operating results for the

nine

months ended

September

30,

2020

are

not

necessarily indicative of the results that

may

be expected for the year ending

December

31,

2020.

The unaudited interim consolidated financial statements presented herein do

not

contain the required disclosures under GAAP for annual financial statements and should be read in conjunction with the annual audited financial statements and related notes as of and for the year ended

December

31,

2019

filed with the SEC as part of the Form

-K on

March 17, 2020.

Use of Estimates

The preparation of unaudited interim consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of assets and liabilities at the date the financial statements and reported amounts of expense during the reporting period. The COVID-

pandemic had

material impact on our estimates and assumptions used in the preparation of the unaudited interim consolidated financial statements for the quarterly period ended

September

30,

2020.

However, the full extent to which the ongoing COVID-

pandemic will directly or indirectly impact our business, results of operations and financial condition, including sales, expenses, reserves and allowances, clinical studies, research and development costs and employee-related amounts, will depend on future developments that are highly uncertain, including as a result of new information that

may

emerge concerning COVID-

19,

governmental and business responses to the pandemic, further actions taken to contain or treat COVID-

19,

the ongoing economic impact on local, regional, national and international markets, and the speed of the anticipated economic recovery. Due to the uncertainty of factors surrounding these estimates or judgments, actual results

may

materially vary from our estimates. Estimates and assumptions are periodically reviewed, and the effects of revisions are reflected in the unaudited interim consolidated financial statements in the period they are determined. Our future assessment of the magnitude and duration of COVID-

19,

as well as other factors, could result in material impacts to our consolidated financial statements in future reporting periods.

Fair Value of Financial Instruments

Fair value is the price that could be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. Fair value determination in accordance with applicable accounting guidance requires that a number of significant judgments be made. Additionally, fair value is used on a nonrecurring basis to evaluate assets for impairment or as required for disclosure purposes by applicable accounting guidance on disclosures about fair value of financial instruments. Depending on the nature of the assets and liabilities, various valuation techniques and assumptions are used when estimating fair value. The carrying amounts of certain of the Company's financial instruments, including cash equivalents and accounts payable are shown at cost, which approximates fair value due to the short-term nature of these instruments. The Company follows the provisions of FASB ASC Topic

820,

Fair Value Measurement

, for financial assets and liabilities measured on a recurring basis. The guidance requires fair value measurements be classified and disclosed in

one

of the following

three

categories:

•

Level

Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

•

Level

Quoted prices in markets that are

not

active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liabilities.

•

Level

Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or

market activity.

The following fair value hierarchy table presents information about the Company's cash equivalents measured at fair value on a recurring basis:

	September 30, 2020
	Level 1		Level 2		Level 3
Assets
Cash equivalents	$	21,570,461	$	—	$	—

	December 31, 2019
	Level 1		Level 2		Level 3
Assets
Cash equivalents	$	14,006,193	$	—	$	—

Intangible Asset

The Company's DFN-

529

(formerly RES-

529

) intangible asset is assessed for impairment annually on

October 1

of the Company's fiscal year or more frequently if impairment indicators exist. There was

impairment to the Company's DFN-

529

intangible asset recognized during the

three

nine

months ended

September

30,

2020

and

2019.

Net Loss Per Common Share

Basic net loss per share is computed by dividing net loss attributable to common stockholders by the weighted average number of shares of common stock outstanding during each period. Diluted net loss per share includes the effect, if any, from the potential exercise or conversion of securities, such as convertible debt, convertible preferred stock, common stock warrants, stock options and unvested restricted stock that would result in the issuance of incremental shares of common stock. In computing the basic and diluted net loss per share applicable to common stockholders, the weighted average number of shares remains the same for both calculations due to the fact that when a net loss exists, dilutive shares are

not

included in the calculation as the impact is anti-dilutive.

The following potentially dilutive securities outstanding have been excluded from the computation of diluted weighted average shares outstanding, as they would be anti-dilutive as of the dates indicated below:

	As of September 30,
	2020		2019
Common stock warrants		9,100,112		3,469,825
Stock options		2,040,204		309,276
Unvested restricted stock awards		153,000		—
		11,293,316		3,779,101

Recently Adopted Accounting Pronouncements

August 2018,

the FASB issued ASU

2018

13,

Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurements,

which changes the fair value measurement disclosure requirements of ASC

820.

The goal of the ASU is to improve the effectiveness of ASC

820's

disclosure requirements by providing users of the financial statements with better information about assets and liabilities measured at fair value in the financial statements and notes thereto. The Company adopted ASU

No.

2018

in the

first

quarter of

2020

and the adoption did

not

have a material impact on the Company's consolidated financial statements.

Note 4 - Accrued Expenses and Other Current Liabilities

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]

4.	Accrued Expenses and Other Current Liabilities

Accrued expenses and other current liabilities consisted of the following as of the dates indicated below:

	September 30, 2020		December 31, 2019
Accrued payroll and payroll related expenses		751,704		182,708
Accrued professional fees		100,000		48,338
Accrued clinical studies expenses		280,845		57,378
Other accrued expenses		29,729		70,108
Total	$	1,162,278	$	358,532

Note 5 - Stockholders' Equity and Common Stock Warrants

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Stockholders' Equity Note Disclosure [Text Block]

5.	Stockholders' Equity and Common Stock Warrants

2020

Common Stock Offering

May 2020,

the Company completed a public offering of

11,428,572

shares of common stock for a purchase price of

$1.05

per share for net proceeds of

$10.3

million after deducting commissions, discounts, and other offering costs. In addition, at the closing of the

May 2020

Offering, the Company issued warrants to purchase up to

571,429

shares of common stock to designees of the placement agent for the

May 2020

Offering. The placement agent's warrants have an exercise price of

$1.3125

per share and a term of

five

years from the date of issuance.

Additionally, in

May 2020,

the Company entered into a warrant exercise agreement with an investor who held the Prior Warrant, a previously outstanding warrent to purchase up to an aggregate of

5,000,000

shares of our common stock at an exercise price of

$0.35

per share. In consideration for the exercise of the Prior Warrant for cash and an additional

$0.125

per each share of common stock in the Prior Warrant being exercised, the exercising investor received new unregistered warrants to purchase up to an aggregate of

5,000,000

shares of common stock in a private placement. The warrants are exercisable immediately at an exercise price of

$0.5263

per share and exercisable until

November 8, 2025.

The Company recognized a deemed dividend of

$2.0

million to reflect the consideration given as an inducement for the investor to exercise the warrants. This deemed dividend is recorded in the Company's statement of operations during the

nine

months ended

September 30, 2020

as an increase to the net loss attributable to common stockholders for purposes of computing net loss per share, basic and diluted.

In connection with the

May 2020

Investor Warrant Exercise, the Company issued warrants to purchase up to

250,000

shares of common stock to the placement agent with an exercise price of

$0.5938

per share and otherwise have identical terms to the warrants issued to the investor.

2019

Common Stock and Warrant Offerings

December 2019,

the Company completed the

December 2019

Offering, an offering of

6,266,787

shares of its common stock and warrants to purchase up to

6,266,787

shares of common stock. The shares of common stock and warrants were sold for a combined purchase price of

$0.5585

per share for net proceeds of

$3.0

million. The

December 2019

Offering warrants are exercisable beginning on the date of their issuance until

June 13, 2025

at an initial exercise price equal to

$0.4335

per share.

In addition, at the closing of the

December 2019

Offering, the Company issued warrants to purchase up to

313,339

shares of common stock to designees of the placement agent. The placement agent's warrants have an exercise price of

$0.6981

per share and a term of

five

years from the date of issuance.

November 2019,

the Company completed the

November 2019

Offering, a registered direct public offering of

5,104,429

shares of its common stock, and

6,324,143

pre-funded warrants each entitling the holder to purchase

one

share of common stock, together with warrants to purchase up to

22,857,144

shares of common stock, at a combined public offering price of

$0.35

per share and associated warrants for total net proceeds of

$3.3

million. The warrants were issued with an exercise price of

$0.35

per share and are exercisable beginning on their date of issuance. Of the warrants issued,

11,428,572

have a term of

months and

11,428,572

have a term of

five

years.

In addition, at the closing of the

November 2019

Offering, the Company issued warrants to purchase up to

571,429

shares of common stock to designees of the placement agent. The placement agent's warrants have an exercise price of

$0.4375

per share and a term of

five

years from the date of issuance.

May 2019,

the Company completed the

May 2019

Offering, a registered direct public offering of

1,317,060

shares of common stock and a private placement of warrants to purchase up to

1,317,060

shares of common stock. The shares of common stock and warrants were sold for a combined purchase price of

$4.895

for total net proceeds of

$5.6

million. The warrants are exercisable beginning on the date of their issuance until

November 29, 2024

at an initial exercise price equal to

$5.00.

In addition, at the closing of the

May 2019

Offering, the Company issued warrants to purchase up to

65,853

shares of common stock to designees of the placement agent. The placement agent's warrants have an exercise price of

$6.11875

per share and a term of

five

years from the date of issuance.

Common Stock Warrants

As of

September

30,

2020,

the Company had the following warrants outstanding to acquire shares of its common stock:

	Outstanding		Range of exercise price per share			Expiration dates
Common stock warrants issued in 2017 related to Series A convertible preferred stock offering		903,870		$33.30		March 2022
Common stock warrants issued in 2018 related to the January 2018 common stock offering		1,181,421	$12.00	-	$15.00	January 2023
Common stock warrants issued related to the May 2019 Offering		1,382,913	$5.00	-	$6.11875	November 2024
Common stock warrants issued related to the November 2019 Offering		497,140	$0.35	-	$0.4375	May 2024
Common stock warrants issued related to the December 2019 Offering		313,339		$0.6981		December 2024
Common stock warrants issued related to the May 2020 Offering		571,429		$1.3125		May 2025
Common stock warrants issued related to May 2020 Investor Warrant Exercise		4,250,000	$0.5263	-	$0.5938	November 2025
		9,100,112

During the

nine

months ended

September 30, 2020,

warrants expired and

19,106,504

warrants were exercised for gross proceeds of

$8.0

million.

Note 6 - Stock-based Compensation

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Share-based Payment Arrangement [Text Block]

6.	Stock-Based Compensation

2015

Equity Plan

The

2015

Equity Plan provides for increases to the number of shares reserved for issuance thereunder each

January 1

equal to

4.0%

of the total shares of the Company's common stock outstanding as of the immediately preceding

December 31,

unless a lesser amount is stipulated by the Compensation Committee of the Company's board of directors. Accordingly,

1,339,215

shares were added to the reserve as of

January 1, 2020,

which shares

may

be issued in connection with the grant of stock-based awards, including stock options, restricted stock, restricted stock units, stock appreciation rights and other types of awards as deemed appropriate, in each case, in accordance with the terms of the

2015

Equity Plan. As of

September

30,

2020,

there were

shares of common stock available for future issuance under the

2015

Equity Plan. Further, the Company granted an option to purchase

70,000

shares of common stock to an employee during the

nine

months ended

September 30, 2020

that were granted outside of the

2015

Equity Plan as an inducement material to the employee's acceptance of employment with the Company in accordance with Nasdaq Listing Rule

5635

(c)(

The Company recorded stock-based compensation expense in the following expense categories of its unaudited interim consolidated statements of operations for the periods indicated:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Research and development	$	19,838	$	13,519	$	136,236	$	40,692
General and administrative		259,635		131,802		448,061		344,913
Total stock-based compensation expense	$	279,473	$	145,321	$	584,297	$	385,605

The following table summarizes the activity related to all stock options for the

nine

months ended

September

30,

2020:

	Number of Options			Weighted average exercise price per share		Weighted average remaining contractual life (in years)
Balance at January 1, 2020		309,276		$	55.78
Granted		1,731,100			0.66
Expired		(172	)		142.50
Outstanding at September 30, 2020		2,040,204		$	9.01		9.1
Exercisable at September 30, 2020		992,779		$	17.65		8.4

The weighted average grant date fair value of stock option awards granted during the

nine

months ended

September

30,

2020

was

$0.62.

The total fair value of options vested during the

three

months ended

September 30, 2020

and

2019

was

$0.3

million and

$0.2

million, respectively. The total fair value of options vested during the

nine

months ended

September 30, 2020

and

2019

was

$0.6

million and

$0.5

million, respectively.

options were exercised during any of the periods presented. At

September

30,

2020,

there was

$0.8

million of unrecognized compensation expense that will be recognized over a weighted-average period of

2.1

years.

Options granted were valued using the Black-Scholes option-pricing model and the weighted average assumptions used to value the options granted during the

nine

months ended

September

30,

2020

and

2019

were as follows:

	2020			2019
Expected term (in years)		7.75			5.52
Risk-free interest rate		0.9	%		2.2	%
Expected volatility		119.7	%		113.4	%
Dividend yield		—	%		—	%

Restricted Stock Awards

During the

nine

months ended

September

30,

2020,

the Company granted

153,000

restricted stock awards to members of the board of directors of the Company. The weighted average grant date fair value of the restricted stock awards granted during the

nine

months ended

September

30,

2020

was

$0.65.

The shares begin to vest

months after the grant date. The Company recognized approximately

$4,000

and

$12,000

in expense related to these awards during the

three

and

nine

months ended

September

30,

2020,

respectively. At

September

30,

2020,

there was approximately

$88,000

of unrecognized compensation cost that will be recognized over a weighted average period of

2.66

years.

Note 7 - Commitments and Contingencies

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

7.	Commitments and Contingencies

Office Space Rental

The Company has a non-cancelable operating lease for office and laboratory space in Charlottesville, Virginia, which began in

April 2017

and as of

September

30,

2020,

has a remaining lease term of approximately

1.6

years. In

February 2016,

the FASB issued ASU

2016

02,

Leases (ASC

842

)

, and the Company adopted ASC

842

in the

first

quarter of

2019

and as a result of the adoption, the Company recognized a current operating lease liability of

$0.1

million and a noncurrent operating lease liability of

$0.2

million with a corresponding ROU asset of the combined amounts, which is based on the present value of the minimum rental payments of the lease. The discount rate used to account for the Company's operating lease under ASC

842

is the Company's estimated incremental borrowing rate of

10%.

The original term of the lease ends in the

second

quarter of

2022

and the Company has an option to extend for another

five

(

) years. This option to extend was

not

recognized as part of the Company's measurement of the ROU asset and operating lease liability as of

September

30,

2020.

Rent expense related to the Company's operating lease for the

three

months ended

September

30,

2020

and

2019

was approximately

$31,000

and

$30,000,

respectively. Rent expense for the

nine

months ended

September

30,

2020

and

2019

was approximately

$91,000

and

$80,000,

respectively. Future minimum rental payments under the Company's non-cancelable operating lease at

September

30,

2020

were as follows:

	Rental Commitments
2020		29,287
2021		118,519
2022		39,735
Total		187,541
Less: imputed interest		(12,873	)
	$	174,668

Research and Development Arrangements

In the course of normal business operations, the Company enters into agreements with universities and CROs, to assist in the performance of research and development activities and contract manufacturers to assist with chemistry, manufacturing, and controls related expenses. Expenditures to CROs represent a significant cost in clinical development for the Company. The Company could also enter into additional collaborative research, contract research, manufacturing, and supplier agreements in the future, which

may

require upfront payments and long-term commitments of cash.

Defined Contribution Retirement Plan

The Company has established a

401

(k) defined contribution plan that covers all employees who qualify under the terms of the plan. Eligible employees

may

elect to contribute to the

401

(k) Plan up to

90%

of their compensation, limited by the IRS-imposed maximum. The Company provides a safe harbor match with a maximum amount of

of the participant's compensation. The Company made matching contributions under the

401

(k) Plan of approximately

$11,000

and

$16,000

for the

three

months ended

September 30, 2020

and

2019,

respectively and matched approximately

$42,000

and

$54,000

during the

nine

months ended

September 30, 2020

and

2019,

respectively.

Legal Proceedings

August 7, 2014,

a complaint was filed in the Superior Court of Los Angeles County, California by Paul Feller, the former Chief Executive Officer of the Company's legal predecessor under the caption

Paul Feller v. RestorGenex Corporation, Pro Sports & Entertainment, Inc., ProElite, Inc. and Stratus Media Group, GmbH

(Case

No.

BC553996

). The complaint asserts various causes of action, including, among other things, promissory fraud, negligent misrepresentation, breach of contract, breach of employment agreement, breach of the covenant of good faith and fair dealing, violations of the California Labor Code and common counts. The plaintiff is seeking, among other things, compensatory damages in an undetermined amount, punitive damages, accrued interest and an award of attorneys' fees and costs. On

December 30, 2014,

the Company filed a petition to compel arbitration and a motion to stay the action. On

April 1, 2015,

the plaintiff filed a petition in opposition to the Company's petition to compel arbitration and a motion to stay the action. After a hearing for the petition and motion on

April 14, 2015,

the Court granted the Company's petition to compel arbitration and a motion to stay the action. On

January 8, 2016,

the plaintiff filed an arbitration demand with the American Arbitration Association. On

November 19, 2018

at an Order to Show Cause Re Dismissal Hearing, the Court found sufficient grounds

not

to dismiss the case, and an arbitration hearing was scheduled for

November 2020.

August 2020,

due to the ongoing COVID-

pandemic and related restrictions on gatherings in the State of California, the arbitration hearing was postponed to the summer of

2021.

The Company believes this matter is without merit and intends to defend the arbitration vigorously. However, because this matter is in an early stage, the Company is unable to predict its outcome and the possible loss or range of loss, if any, associated with its resolution or any potential effect the matter

may

have on the Company's financial position. Depending on the outcome or resolution of this matter, it could have a material effect on the Company's financial position.

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

	September 30, 2020
	Level 1		Level 2		Level 3
Assets
Cash equivalents	$	21,570,461	$	—	$	—

	December 31, 2019
	Level 1		Level 2		Level 3
Assets
Cash equivalents	$	14,006,193	$	—	$	—

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]

	As of September 30,
	2020		2019
Common stock warrants		9,100,112		3,469,825
Stock options		2,040,204		309,276
Unvested restricted stock awards		153,000		—
		11,293,316		3,779,101

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

+ References + Details

Note 4 - Accrued Expenses and Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

Other Current Liabilities [Table Text Block]

	September 30, 2020		December 31, 2019
Accrued payroll and payroll related expenses		751,704		182,708
Accrued professional fees		100,000		48,338
Accrued clinical studies expenses		280,845		57,378
Other accrued expenses		29,729		70,108
Total	$	1,162,278	$	358,532

Note 5 - Stockholders' Equity and Common Stock Warrants (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

	Outstanding		Range of exercise price per share			Expiration dates
Common stock warrants issued in 2017 related to Series A convertible preferred stock offering		903,870		$33.30		March 2022
Common stock warrants issued in 2018 related to the January 2018 common stock offering		1,181,421	$12.00	-	$15.00	January 2023
Common stock warrants issued related to the May 2019 Offering		1,382,913	$5.00	-	$6.11875	November 2024
Common stock warrants issued related to the November 2019 Offering		497,140	$0.35	-	$0.4375	May 2024
Common stock warrants issued related to the December 2019 Offering		313,339		$0.6981		December 2024
Common stock warrants issued related to the May 2020 Offering		571,429		$1.3125		May 2025
Common stock warrants issued related to May 2020 Investor Warrant Exercise		4,250,000	$0.5263	-	$0.5938	November 2025
		9,100,112

Note 6 - Stock-based Compensation (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block]

	Three Months Ended September 30,				Nine Months Ended September 30,
	2020		2019		2020		2019
Research and development	$	19,838	$	13,519	$	136,236	$	40,692
General and administrative		259,635		131,802		448,061		344,913
Total stock-based compensation expense	$	279,473	$	145,321	$	584,297	$	385,605

Share-based Payment Arrangement, Option, Activity [Table Text Block]

	Number of Options			Weighted average exercise price per share		Weighted average remaining contractual life (in years)
Balance at January 1, 2020		309,276		$	55.78
Granted		1,731,100			0.66
Expired		(172	)		142.50
Outstanding at September 30, 2020		2,040,204		$	9.01		9.1
Exercisable at September 30, 2020		992,779		$	17.65		8.4

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	2020			2019
Expected term (in years)		7.75			5.52
Risk-free interest rate		0.9	%		2.2	%
Expected volatility		119.7	%		113.4	%
Dividend yield		—	%		—	%

Note 7 - Commitments and Contingencies (Tables)

9 Months Ended

Sep. 30, 2020

Notes Tables

Lessee, Operating Lease, Liability, Maturity [Table Text Block]

	Rental Commitments
2020		29,287
2021		118,519
2022		39,735
Total		187,541
Less: imputed interest		(12,873	)
	$	174,668

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
In-Process Research and Development Asset [Member]
Impairment of Intangible Assets (Excluding Goodwill), Total	$ 0	$ 0	$ 0	$ 0

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies - Fair Value on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Inputs, Level 1 [Member]
Cash equivalents	$ 21,570,461	$ 14,006,193
Fair Value, Inputs, Level 2 [Member]
Cash equivalents
Fair Value, Inputs, Level 3 [Member]
Cash equivalents

Note 3 - Basis of Presentation and Summary of Significant Accounting Policies - Outstanding Dilutive Securities (Details) - shares	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Anti-dilutive securities (in shares)	11,293,316	3,779,101
Warrant [Member]
Anti-dilutive securities (in shares)	9,100,112	3,469,825
Share-based Payment Arrangement, Option [Member]
Anti-dilutive securities (in shares)	2,040,204	309,276
Restricted Stock [Member]
Anti-dilutive securities (in shares)	153,000

Note 4 - Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Accrued payroll and payroll related expenses	$ 751,704	$ 182,708
Accrued professional fees	100,000	48,338
Accrued clinical studies expenses	280,845	57,378
Other accrued expenses	29,729	70,108
Total	$ 1,162,278	$ 358,532

Note 5 - Stockholders' Equity and Common Stock Warrants (Details Textual) - USD ($)	1 Months Ended				3 Months Ended		9 Months Ended
	May 31, 2020	Dec. 31, 2019	Nov. 30, 2019	May 31, 2019	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Deemed Dividend From Warrant Exchange							$ 1,950,378
Class of Warrant or Rights, Expired (in shares)							0
Class of Warrant or Right, Exercised During Period (in shares)							19,106,504
Proceeds from Warrant Exercises							$ 8,046,103
The May 2020 Offering Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	571,429
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.3125				$ 1.3125		$ 1.3125
Warrants and Rights Outstanding, Term (Year)	5 years
Prior Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	5,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.35
Class of Warrant or Right, Exchange, Additional Consideration Per Share (in dollars per share)	$ 0.125
New Warrants Issued May 8, 2020 [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	5,000,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.5263
The May 2020 PA Warrants [Member] \| H.C Wainwright & Co., LLC [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	250,000
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 0.5938
Warrants Issued in Connection with the December 2019 Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		6,266,787
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 0.4335			$ 0.6981		$ 0.6981
Placement Agent Warrant [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)		313,339	571,429	65,853
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)		$ 0.6981	$ 0.4375	$ 6.11875
Warrants and Rights Outstanding, Term (Year)		5 years	5 years	5 years
Warrants Issued in Connection with the November 2019 Offering [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)			$ 0.35
Class of Warrant or Right, Issued During Period (in shares)			6,324,143
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)			1
Warrants with 18 Months Term Issued in Connection with the November 2019 Offering [Member]
Warrants and Rights Outstanding, Term (Year)			1 year 180 days
Class of Warrant or Right, Issued During Period (in shares)			11,428,572
Warrants with 5 Years Term Issued in Connection with the November 2019 Offering [Member]
Warrants and Rights Outstanding, Term (Year)			5 years
Class of Warrant or Right, Issued During Period (in shares)			11,428,572
The May 2020 Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)	11,428,572
Shares Issued, Price Per Share (in dollars per share)	$ 1.05
Proceeds from Issuance of Common Stock	$ 10,300,000
December 2019 Public Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)		6,266,787
Shares Issued, Price Per Share (in dollars per share)		$ 0.5585
Proceeds from Issuance or Sale of Equity, Total		$ 3,000,000
November 2019 Public Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)			5,104,429
Shares Issued, Price Per Share (in dollars per share)			$ 0.35
Proceeds from Issuance or Sale of Equity, Total			$ 3,300,000
Stock and Warrants Issued During Period, Number of Securities Called by Stock and Warrants (in shares)			22,857,144
May 2019 Public Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)				1,317,060
Shares Issued, Price Per Share (in dollars per share)				$ 4.895
Proceeds from Issuance or Sale of Equity, Total				$ 5,600,000
Warrants Issued in Connection with May 2019 Public Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)				1,317,060
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)				$ 5

Note 5 - Stockholders' Equity and Common Stock Warrants - Warrants Outstanding to Acquire Shares of Its Common Stock (Details) - $ / shares	Sep. 30, 2020	May 31, 2020	Dec. 31, 2019	Nov. 30, 2019
Common stock warrants, outstanding (in shares)	9,100,112
Warrants Attached to Series A Convertible Preferred Stock [Member]
Common stock warrants, outstanding (in shares)	903,870
Range of exercise price (in dollars per share)	$ 33.30
Warrants Issued in Connection with the January 2018 Offering [Member]
Common stock warrants, outstanding (in shares)	1,181,421
Warrants Issued in Connection with the January 2018 Offering [Member] \| Minimum [Member]
Range of exercise price (in dollars per share)	$ 12
Warrants Issued in Connection with the January 2018 Offering [Member] \| Maximum [Member]
Range of exercise price (in dollars per share)	$ 15
Warrants Issued in Connection with May 2019 Public Offering [Member]
Common stock warrants, outstanding (in shares)	1,382,913
Warrants Issued in Connection with May 2019 Public Offering [Member] \| Minimum [Member]
Range of exercise price (in dollars per share)	$ 5
Warrants Issued in Connection with May 2019 Public Offering [Member] \| Maximum [Member]
Range of exercise price (in dollars per share)	$ 6.11875
Warrants Issued in Connection with the November 2019 Offering [Member]
Common stock warrants, outstanding (in shares)	497,140
Range of exercise price (in dollars per share)				$ 0.35
Warrants Issued in Connection with the November 2019 Offering [Member] \| Minimum [Member]
Range of exercise price (in dollars per share)	$ 0.35
Warrants Issued in Connection with the November 2019 Offering [Member] \| Maximum [Member]
Range of exercise price (in dollars per share)	$ 0.4375
Warrants Issued in Connection with the December 2019 Offering [Member]
Common stock warrants, outstanding (in shares)	313,339
Range of exercise price (in dollars per share)	$ 0.6981		$ 0.4335
The May 2020 Offering Warrants [Member]
Common stock warrants, outstanding (in shares)	571,429
Range of exercise price (in dollars per share)	$ 1.3125	$ 1.3125
The May 2020 Investor Warrant Exercise [Member]
Common stock warrants, outstanding (in shares)	4,250,000
The May 2020 Investor Warrant Exercise [Member] \| Minimum [Member]
Range of exercise price (in dollars per share)	$ 0.5263
The May 2020 Investor Warrant Exercise [Member] \| Maximum [Member]
Range of exercise price (in dollars per share)	$ 0.5938

Note 6 - Stock-based Compensation (Details Textual) - USD ($)		3 Months Ended		6 Months Ended	9 Months Ended
	Jan. 01, 2020	Sep. 30, 2020	Sep. 30, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)					1,731,100
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)					$ 0.62
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value		$ 300,000	$ 200,000		$ 600,000	$ 500,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares)					0	0
Share-based Payment Arrangement, Expense		279,473	$ 145,321		$ 584,297	$ 385,605
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		800,000			$ 800,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					2 years 36 days
Restricted Stock [Member] \| Director [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total		88,000			$ 88,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)					2 years 240 days
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)					153,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share)					$ 0.65
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month)					1 year 180 days
Share-based Payment Arrangement, Expense		$ 4,000			$ 12,000
Equity Incentive Plan 2015 [Member]
Percentage of Total Shares Eligible for Plan Reserve, On an Annual Basis				4.00%
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares)	1,339,215
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares)		0			0
Outside of the 2015 Equity Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares)					70,000

Note 6 - Stock-based Compensation - Stock-based Compensation Expense (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stock-based compensation expense	$ 279,473	$ 145,321	$ 584,297	$ 385,605
Research and Development Expense [Member]
Stock-based compensation expense	19,838	13,519	136,236	40,692
General and Administrative Expense [Member]
Stock-based compensation expense	$ 259,635	$ 131,802	$ 448,061	$ 344,913

Note 6 - Stock-based Compensation - Stock Option Activity (Details)	9 Months Ended
	Sep. 30, 2020 $ / shares shares
Options outstanding, number (in shares) \| shares	309,276
Options outstanding, weighted-average exercise price (in dollars per share) \| $ / shares	$ 55.78
Granted (in shares) \| shares	1,731,100
Granted, weighted-average exercise price (in dollars per share) \| $ / shares	$ 0.66
Expired (in shares) \| shares	(172)
Expired, weighted-average exercise price (in dollars per share) \| $ / shares	$ 142.50
Options outstanding, number (in shares) \| shares	2,040,204
Options outstanding, weighted-average exercise price (in dollars per share) \| $ / shares	$ 9.01
Options outstanding, weighted-average remaining contractual life (Year)	9 years 36 days
Exercisable (in shares) \| shares	992,779
Exercisable, weighted-average exercise price (in dollars per share) \| $ / shares	$ 17.65
Exercisable, weighted-average remaining contractual life (Year)	8 years 146 days

Note 6 - Stock-based Compensation - Fair Value Assumptions (Details)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Expected term (Year)	7 years 273 days	5 years 189 days
Risk-free interest rate	0.90%	2.20%
Expected volatility	119.70%	113.40%
Dividend yield

Note 7 - Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Jan. 01, 2019
Lessee, Operating Lease, Remaining Lease Term (Year)	1 year 219 days		1 year 219 days
Operating Lease, Liability, Current	$ 112,953		$ 112,953		$ 111,477	$ 100,000
Operating Lease, Liability, Noncurrent	$ 61,715		$ 61,715		$ 135,566	$ 200,000
Lessee, Operating Lease, Discount Rate	10.00%		10.00%
Lessee, Operating Lease, Renewal Term (Year)	5 years		5 years
Operating Lease, Expense	$ 31,000	$ 30,000	$ 91,000	$ 80,000
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent			90.00%
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay			4.00%
Defined Contribution Plan, Employer Discretionary Contribution Amount	$ 11,000	$ 16,000	$ 42,000	$ 54,000

Note 7 - Commitments and Contingencies - Future Minimum Rental Payments (Details)	Sep. 30, 2020 USD ($)
2020	$ 29,287
2021	118,519
2022	39,735
Total	187,541
Less: imputed interest	(12,873)
Operating Lease, Liability, Total	$ 174,668