0001437749-21-012213 | 10-Q | XBRL Viewer

Basis of Presentation and Significant Accounting Policies [Text Block]

NOTE

SUMMARY OF ACCOUNTING POLICIES

Basis of Presentation

The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form

-Q and Rule

of Regulation S-

They do

not

include all information and notes required by GAAP for complete financial statements. However, except as disclosed herein, there has been

material change in the information disclosed in the Notes to Consolidated Financial Statements included in the Annual Report on Form

-K of the Company for the year ended

December 31, 2020.

The year-end condensed consolidated balance sheet presented was derived from audited consolidated financial statements, but does

not

include all disclosures required by GAAP.

In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the

three

months ended

March

31,

2021,

are

not

necessarily indicative of the results that

may

be expected for the year ending

December 31, 2021.

Use of Estimates

The preparation of 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 contingent assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Actual results could differ from those estimates.

Research and Development Expense

Research and development ("R&D") costs are generally expensed as incurred. R&D expenses include, for example, manufacturing expenses for the Company's drugs under development, expenses associated with clinical trials and associated salaries and benefits. R&D expenses also include an allocation of the CEO's salary and related benefits including bonus and non-cash stock-based compensation expense based on an estimate of total hours expended on research and development activities. The Company's CEO is involved in the development of the Company's drug candidates and oversight of the related clinical trial activity.

Fair Value Measurements

The Company records financial assets and liabilities measured on a recurring and non-recurring basis as well as all non-financial assets and liabilities subject to fair value measurement at the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. These fair value principles prioritize valuation inputs across

three

broad levels. Level

inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level

inputs are quoted prices for similar assets and liabilities in active markets or inputs that are observable for the asset or liability, either directly or indirectly through market corroboration, for substantially the full term of the financial instrument. Level

inputs are unobservable inputs based on the Company's assumptions used to measure assets and liabilities at fair value. An asset or liability's classification within the various levels is determined based on the lowest level input that is significant to the fair value measurement. Also refer to Note

Stock-based Payments

The Company measures and recognizes compensation expense for all stock-based payment awards made to employees, non-employee directors, and consultants, including employee stock options. Stock compensation expense is based on the estimated grant date fair value and is recognized as an expense over the requisite service period. The Company has made a policy election to recognize forfeitures when they occur.

The fair value of each option grant is estimated using the Black-Scholes option-pricing model, which requires assumptions regarding the expected volatility of the stock options, the expected life of the options, an expectation regarding future dividends on the Company's common stock, and estimation of an appropriate risk-free interest rate. The Company's expected common stock price volatility assumption is based upon the historical volatility of our stock price. The Company has elected the simplified method for the expected life assumption for stock option grants, which averages the contractual term of the options of

ten

years with the vesting term, typically

one

four

years, as the Company does

not

have sufficient history of option exercise experience. The dividend yield assumption of

zero

is based upon the fact that the Company has never paid cash dividends and presently has

intention of paying cash dividends in the future. The risk-free interest rate used for each grant was based upon prevailing short-term interest rates over the expected life of the options.

Financial Instruments with Characteristics of Both Liabilities and Equity

During

December 2020,

the Company issued certain financial instruments, including warrants to purchase common stock, which have characteristics of both liability and equity. Financial instruments such as warrants that are classified as liabilities are fair valued upon issuance and are remeasured at fair value at subsequent reporting periods with the resulting change in fair value recorded in “change in fair value of common stock warrants”. The fair value of warrants is estimated using valuation models that require the input of subjective assumptions including stock price, exercise price, stock price volatility, expected life, an expectation regarding future dividends on the Company's common stock, and estimation of an appropriate risk-free interest rate.

Recent Accounting Pronouncements

May 3,

2021,

the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU")

No.

2021

04,

Issuer

s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options

— a consensus of the FASB Emerging Issues Task Force. The ASU provides a principles-based framework to determine whether an issuer should recognize the modification or exchange as an adjustment to equity or an expense. The guidance will be effective for the Company for fiscal years beginning after

December 15, 2021,

and interim periods within those fiscal years.

Recently Adopted Accounting Pronouncements

January 1, 2021,

the Company early adopted ASU

No.

2020

06,

Accounting for Convertible Instruments and

Contracts in an Entity's Own Equity

(Topic

815

)

which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts in an entity's own equity. The guidance is effective for fiscal years beginning on or after

December 15, 2023,

with early adoption permitted, but

not

earlier than fiscal years beginning after

December 15, 2020.

The Company implemented this ASU using the modified retrospective approach. Upon adoption, the Company recorded a cumulative adjustment to beginning Stockholders' Equity in the amount of

$13,003,075

to reclassify the common stock warrant liability to accumulated deficit and additional paid-in capital.

The guidance removes the liability and equity separation models for convertible instruments with a cash conversion feature or beneficial conversion feature. As a result companies will more likely account for a convertible debt instruments wholly as debt, and for convertible preferred stock wholly as preferred stock (i.e. as a single unit of account). In addition, the guidance simplifies the settlement assessment that issuers perform to determine whether a contract in their own equity qualifies for equity classification. Finally, the guidance requires entities to use the if-converted method to calculate earnings per share for all convertible instruments.

The cumulative effect of initially applying the new standard was recognized as an adjustment to accumulated deficit. Upon the adoption of the new standard we recognized the following adjustments:

	Ending Balance as of December 31, 2020			ASU 2020-06 Adjustments			Beginning Balance as of January 1, 2021
Warrant liability	$	13,003,075		$	(13,003,075	)	$	-
Additional paid-in capital		129,887,146			9,731,714			139,618,860
Accumulated deficit		(111,898,992	)		3,271,361			(108,627,631	)

The

$3,271,361

adjustment to accumulated deficit includes the reclassification of warrant financing expenses of

$938,794

and the change in fair value of common stock warrants of

$2,332,567

subsequent to initial recognition.

January 1, 2021,

the Company adopted ASU

2019

12,

Income Taxes, (Topic

740

): Simplifying the Accounting for Income Taxes

, which amends the existing guidance relating to accounting for income taxes. This ASU is intended to simplify the accounting for income taxes by removing certain exceptions to the general principles of accounting for income taxes and to improve the consistent application of U.S. GAAP for other areas of accounting for income taxes by clarifying and amending existing guidance. This ASU did

not

have a material effect on its condensed consolidated financial statements.

Note 4 - Restricted Cash	3 Months Ended
Note 4 - Restricted Cash	Mar. 31, 2021
Notes to Financial Statements
Restricted Assets Disclosure [Text Block]	NOTE 4: RESTRICTED CASH The Company's restricted cash balance of $110,000 as of March 31, 2021 and December 31, 2020 consists entirely of cash pledged as security for the Company's issued commercial credit cards.

Note 5 - Prepaid Expenses

3 Months Ended

Mar. 31, 2021

Prepaid Expenses [Text Block]

NOTE

PREPAID EXPENSES

Prepaid expenses consisted of the following:

	As of March 31,		As of December 31,
	2021		2020
Prepaid research and development	$	1,742,363	$	1,215,834
Prepaid insurance		554,405		417,854
Professional services		172,955		128,229
Financial exchange fees		43,500		-
Retainer and security deposits		14,218		14,218
Prepaid rent		18,720		4,488
Other		4,291		33,279
Total prepaid expenses	$	2,550,452	$	1,813,902

Note 6 - Research and Development Tax Rebate Receivable	3 Months Ended
Note 6 - Research and Development Tax Rebate Receivable	Mar. 31, 2021
Notes to Financial Statements
Research and Development Tax Rebate Receivable [Text Block]	NOTE 6: RESEARCH AND DEVELOPMENT TAX REBATE RECEIVABLE On May 23, 2017, Atossa formed a wholly-owned subsidiary in Australia called Atossa Genetics AUS Pty Ltd. The purpose of this subsidiary is to perform R&D activities including our Phase 1 and Phase 2 Endoxifen and COVID- 19 clinical trials. Australia offers an R&D cash rebate of $0.435 per dollar spent on qualified R&D activities incurred in the country. During the three months ended March 31, 2021 and 2020, the Company recorded a rebate receivable of approximately $133,452 and $133,447, respectively, related to qualified R&D activities incurred. At March 31, 2021 and December 31, 2020, we had a total R&D rebate receivable of $720,029 and $634,940, respectively. The Company had realized gains on foreign currency exchange during the three months ended March 31, 2021 and March 31, 2020, of approximately $5,945 and $19,965, respectively, which is included in Other Expense, net in the Condensed Consolidated Statements of Operations.

Note 7 - Payroll Liabilities

3 Months Ended

Mar. 31, 2021

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

NOTE

PAYROLL LIABILITIES

Payroll liabilities consisted of the following:

	As of March 31,		As of December 31,
	2021		2020
Accrued bonuses	$	194,497	$	689,635
Accrued vacation		184,273		171,112
Accrued payroll		111,231		102,918
Total payroll liabilities	$	490,001	$	963,665

Note 8 - Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Text Block]

NOTE

FAIR VALUE OF FINANCIAL INSTRUMENTS

Pursuant to the accounting guidance for fair value measurement and its subsequent updates, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. The accounting guidance establishes a hierarchy for inputs used in measuring fair value that minimizes the use of unobservable inputs by requiring the use of observable market data when available. Observable inputs are inputs that market participants would use in pricing the asset or liability based on active market data. Unobservable inputs are inputs that reflect the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances.

The fair value hierarchy is broken down into the

three

input levels summarized below:

●

Level

—Valuations are based on quoted prices in active markets for identical assets or liabilities and readily accessible by us at the reporting date. Examples of assets and liabilities utilizing Level

inputs are certain money market funds, U.S. Treasuries and trading securities with quoted prices on active markets.

●

Level

—Valuations based on inputs other than the quoted prices in active markets that are observable either directly or indirectly in active markets. Examples of assets and liabilities utilizing Level

inputs are U.S. government agency bonds, corporate bonds, commercial paper, certificates of deposit and over-the- counter derivatives.

●

Level

—Valuations based on unobservable inputs in which there are little or

market data, which require the Company to develop its own assumptions.

Warrants issued in the

December 11, 2020

offering and

December 28, 2020

overallotment closing, which are discussed further in Note

contained provisions that

may

require the Company to settle the warrants in cash in an event outside the Company's control and are therefore accounted for as liabilities, with changes in the fair values included in net loss for the respective periods. Because some of the inputs to the valuation model were either

not

observable or were

not

derived principally from or corroborated by observable market data by correlation or other means, the warrant liability was classified as Level

in the fair value hierarchy as of

December 31, 2020.

The following tables present the Company's fair value hierarchy for all its financial assets and liabilities, by major security type measured at fair value on a recurring basis:

March 31, 2021	Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Money market account	$	51,792,297	$	51,792,297	$	-	$	-

December 31, 2020	Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Money market account	$	1,789,401	$	1,789,401	$	-	$	-
Liabilities:
Common stock warrant liability	$	13,003,075	$	-	$	-	$	13,003,075

The following table summarizes the changes in the Company's Level

warrant liability for the

three

months ended

March

31,

2021:

Warrant Liability
Beginning balance	$	13,003,075
Reclassification to equity upon adoption of accounting standard		(13,003,075	)
Issuance of warrants		-
Change in fair value		-
Ending balance	$	-

The carrying amounts of our cash and cash equivalents, restricted cash, research and development tax rebate receivable, prepaid expenses, other current assets, accounts payable, accrued expenses, payroll liabilities and other current liabilities approximate their fair values due to their short-term maturities at

March

31,

2021

and

December 31, 2020.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Note 9 - Stockholders' Equity

3 Months Ended

Mar. 31, 2021

Stockholders' Equity Note Disclosure [Text Block]

NOTE

STOCKHOLDERS' EQUITY

The Company is authorized to issue a total of

185,000,000

shares of stock consisting of

175,000,000

shares of common stock, par value

$0.18

per share, and

10,000,000

shares of preferred stock, par value

$0.001

per share. The Company has designated

750,000

shares of Series A junior participating preferred stock, par value

$0.001

per share,

4,000

shares of Series A convertible preferred stock, par value

$0.001

per share,

25,000

shares of Series B convertible preferred stock, par value

$0.001

and

5,425

shares of Series C convertible preferred stock, par value

$0.001

per share, through the filings of certificates of designation with the Delaware Secretary of State.

shares of Series A junior participating preferred stock,

shares of Series A convertible preferred stock and

shares of Series C convertible preferred stock are outstanding as of

March 31, 2021

and

December 31, 2020.

2021

Financing Transactions

January 6, 2021,

the Company entered into a securities purchase agreement with certain institutional and accredited investors relating to the offering and sale of

23,850,000

shares of Company common stock, par value

$0.18

per share and warrants to purchase

17,887,500

shares of common stock. The combined purchase price for

one

share of common stock and a warrant to purchase

0.75

shares of common stock was

$1.055.

Subject to certain ownership limitations, the warrants are exercisable upon issuance. The warrants will expire on the

4.5

year anniversary of the date of issuance and have an exercise price of

$1.055

per share. The common stock and warrants have been registered under the Securities Act of

1933,

as amended.

Pursuant to a letter agreement, dated as of

January 6, 2021,

between the Company and the placement agent Maxim Group LLC, the Company agreed to pay the placement agent a cash fee of

of the aggregate gross proceeds. The Company also agreed to reimburse the placement agent for expenses, including legal fees which shall be limited to, in the aggregate,

$45,000.

The offering closed on

January 8, 2021

with net proceeds to the Company from the offering of approximately

$23.3

million, after deducting fees and expenses.

March

22,

2021,

the Company entered into a securities purchase agreement with certain institutional and accredited investors relating to the offering and sale of

17,361,100

shares of our common stock, par value

$0.18

per share. Concurrently with the offering, and pursuant to the purchase agreement, the Company also commenced a private placement whereby it issued and sold warrants exercisable for an aggregate of up to

13,020,825

shares of common stock. The combined purchase price for

one

share of common stock and a purchase warrant to purchase

0.75

shares of common stock is

$2.88.

Subject to certain ownership limitations, the warrants are exercisable upon issuance. The warrants will expire on the

4.5

year anniversary of the date of issuance. Subsequent to the issuance of the warrants, the Company filed a registration statement on Form S-

(File

No.

333

255411

) to cover the sale of an aggregate of

13,020,825

shares of common stock issuable upon exercise of the warrants which was declared effective by the SEC on

April 29, 2021.

The Company agreed to pay the placement agent a cash fee of

of the aggregate gross proceeds of the offering and the private placement. The Company also agreed to reimburse the placement agent for expenses, including the legal fees which shall be limited to, in the aggregate,

$45,000.

The Company estimates total expenses associated with the offering, excluding placement agent fees and expenses, are approximately

$70,000.

The net proceeds to the Company from the offering and the private placement are approximately

$46.4

million, after deducting fees and expenses.

2021

Warrants

The terms and conditions of the warrants included in the

2021

offerings are as follows:

Exercisability

. Each warrant is exercisable at any time and will expire

4.5

years from the date of issuance. The warrants are exercisable, at the option of each holder, in whole or in part by delivering to us a duly executed exercise notice and payment in full for the number of shares of our common stock purchased upon such exercise, except in the case of a cashless exercise as discussed below.

The number of shares of common stock issuable upon exercise of the warrants is subject to adjustment in certain circumstances, including a stock split of, stock dividend on, or a subdivision, combination or recapitalization of the common stock. Upon the merger, consolidation, sale of substantially all of our assets, or other similar transaction, the holders of warrants shall, at the option of the Company, be required to exercise the warrants immediately prior to the closing of the transaction, or such warrants shall automatically expire. Upon such exercise, the holders of warrants shall participate on the same basis as the holders of common stock in connection with the transaction.

Cashless Exercise

. If at any time there is

effective registration statement registering, or the prospectus contained therein is

not

available for issuance of, the shares issuable upon exercise of the warrant, the holder

may

exercise the warrant on a cashless basis. When exercised on a cashless basis, a portion of the warrant is cancelled in payment of the purchase price payable in respect of the number of shares of our common stock purchasable upon such exercise.

Exercise Price

. Each warrant represents the right to purchase

one

share of common stock at an exercise price of

$1.055

per share (

January 8, 2021)

$2.88

per share (

March 23, 2021).

In addition, the exercise price per share is subject to adjustment for stock dividends, distributions, subdivisions, combinations, or reclassifications, and for certain dilutive issuances. Subject to limited exceptions, a holder of warrants will

not

have the right to exercise any portion of the warrant to the extent that, after giving effect to the exercise, the holder, together with its affiliates, and any other person acting as a group together with the holder or any of its affiliates, would beneficially own in excess of

4.99%

of the number of shares of our common stock outstanding immediately after giving effect to its exercise. The holder, upon notice to the Company,

may

increase or decrease the beneficial ownership limitation provisions of the warrant, provided that in

event shall the limitation exceed

9.99%

of the number of shares of our common stock outstanding immediately after giving effect to the exercise of the warrant.

Transferability

. Subject to applicable laws and restrictions, a holder

may

transfer a warrant upon surrender of the warrant to us with a completed and signed assignment in the form attached to the warrant. The transferring holder will be responsible for any tax that liability that

may

arise as a result of the transfer.

Exchange Listing

. We do

not

intend to apply to list the warrants on any securities exchange or recognized trading system.

Rights as Stockholder

. Except as set forth in the warrant, the holder of a warrant, solely in such holder's capacity as a holder of a warrant, will

not

be entitled to vote, to receive dividends, or to any of the other rights of our stockholders.

Warrants

As of

March 31, 2021,

warrants to purchase

27,664,205

shares of common stock were outstanding including:

	Outstanding Warrants to Purchase Shares		Exercise Price		Expiration date
May 2018 warrants		1,068,892	$	4.05	May 30, 2022
December 2020 warrants		8,281,325	$	1.00	December 11, 2024-June 21, 2025
January 2021 warrants		5,293,163	$	1.055	July 8, 2025
March 2021 warrants		13,020,825	$	2.88	September 22, 2025
		27,664,205

Warrant Activity

During the

three

months ended

March 31, 2021,

the Company received approximately

$19.5

million from exercises of the

2020

warrants, with an exercise price of

$1.00.

As a result of the warrant exercises, the Company cancelled approximately

19.5

million warrants and issued approximately

19.5

million shares of common stock. During the same period the Company also received approximately

$13.3

million from exercises of the

2021

warrants with an exercise price of

$1.055.

As a result of the warrant exercises, the Company cancelled approximately

12.6

million warrants and issued approximately

12.6

million shares of common stock. There were

warrant exercises during the

three

months ended

March 31, 2020.

Conversion of Series B Convertible Preferred Stock

During the

three

months ended

March 31, 2021,

certain holders of the Series B convertible preferred stock exercised their conversion option and converted an aggregate of

share, into

285

shares of the Company's common stock. During the

three

months ended

March 31, 2020,

there were

conversions of Series B convertible preferred stock.

Note 10 - Net Loss Per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Text Block]

NOTE

10:

NET LOSS PER SHARE

The Company follows the

two

-class method when computing net loss per share as the Company has issued warrants and preferred stock that meet the definition of participating securities. The

two

-class method determines net loss per share for each class of common and participating securities according to dividends declared or accumulated and participation rights in undistributed earnings. The

two

-class method requires income available to common stockholders for the period to be allocated between common and participating securities based upon their respective rights to receive dividends as if all income for the period had been distributed.

Basic net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares outstanding. In addition, in computing the dilutive effect of convertible securities, the numerator is adjusted to add back any convertible preferred dividends. Diluted net loss per common share is computed by dividing net loss attributable to common stockholders by the weighted average number of common shares that would have been outstanding during the period assuming the issuance of common shares for all potential dilutive common shares outstanding. Potential common shares consist of potential future exercises of outstanding stock options and common stock warrants. Because the inclusion of potential common shares would be anti-dilutive for all periods presented, they have been excluded from the calculation.

The Company's common stock warrants and preferred stock contractually entitles the holders of such securities to participate in dividends but do

not

contractually require the holders of such securities to participate in losses of the Company. Accordingly, in periods in which the Company reports a net loss, such losses are

not

allocated to such participating securities. In periods in which the Company reports a net loss attributable to common stockholders, diluted net loss per share attributable to common stockholders is the same as basic net loss per share attributable to common stockholders, since dilutive common shares are

not

assumed to have been issued if their effect is anti-dilutive. The Company reported a net loss attributable to common stockholders for the

three

months ended

March

31,

2021

and

2020.

The following table summarizes the Company's calculation of net loss per common share:

	Three Months Ended March 31,
	2021			2020
Numerator
Net loss attributable to common shareholders	$	(3,538,069	)	$	(2,947,420	)
Denominator
Weighted average common shares outstanding used to compute net loss per share, basic and diluted		92,587,168			9,130,984
Net loss per share of common stock, basic and diluted:	$	(0.04	)	$	(0.32	)

The following table sets forth the number of potential common shares excluded from the calculation of net loss per diluted share, because including them would be anti-dilutive:

	Three Months Ended March 31,
	2021		2020
Options to purchase common stock		7,067,436		4,308,383
Series B convertible preferred stock		177,373		190,617
Warrants to purchase common stock		25,076,714		1,070,028
		32,321,523		5,569,028

Note 11 - Income Taxes	3 Months Ended
Note 11 - Income Taxes	Mar. 31, 2021
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 11: INCOME TAXES Deferred income tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial reporting and tax bases of assets and liabilities and are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided for the amount of deferred tax assets that, based on available evidence, are not expected to be realized. As a result of the Company's cumulative losses, management has concluded that a full valuation allowance against the Company's net deferred tax assets is appropriate. No income tax liabilities existed as of March 31, 2021 and December 31, 2020, due to the Company's continuing operating losses.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

Note 12 - Concentration of Credit Risk	3 Months Ended
Note 12 - Concentration of Credit Risk	Mar. 31, 2021
Notes to Financial Statements
Concentration Risk Disclosure [Text Block]	NOTE 12: CONCENTRATION OF CREDIT RISK Financial instruments that potentially subject the Company to concentration of credit risk consist principally of cash deposits. Accounts at each institution are insured by the Federal Deposit Insurance Corporation (“FDIC”) up to $250,000. At March 31, 2021 and December 31, 2020, the Company had $137,322,778 and $39,345,260 in excess of the FDIC insured limit, respectively.

Note 13 - Commitments and Contingencies	3 Months Ended
Note 13 - Commitments and Contingencies	Mar. 31, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 13: COMMITMENTS AND CONTINGENCIES Lease Commitments The Company evaluates all contractual agreements at inception to determine if they contain a lease. Lease liabilities are measured at present value of lease payments not yet paid, using a discounted cash flow model that requires the use of a discount rate, or incremental borrowing rate. The Company's operating lease assets consist of a copier system lease and an office lease. Our office lease expired on February 28, 2021. On March 1, 2021, the Company entered into a new operating lease for office space to pay monthly rent of $750 for a term of 12 months. As a result of COVID- 19, the Company has adopted a remote work practice. Our copier system lease expires in October of 2021. None of our leases contain options to extend. Total operating lease expense for the three months ended March 31, 2021 and 2020, was approximately $10,700 and $13,300, respectively, and variable lease payments of taxes and insurance were immaterial. As of March 31, 2021, the weighted average remaining lease term was approximately 7.0 months and the weighted average discount rate of our operating lease was 11.3%. As of March 31, 2021, the future minimum lease payments are approximately $8,694 for 2021. These payments are reported in the condensed consolidated balance sheets at March 31, 2021 and 2020, net of imputed interest of $681 and $4,500. The cash paid for amounts included in the measurement of operating lease liabilities for the three months ended March 31, 2021 and 2020 was approximately $10,700 and $14,700, respectively. The Company had lease expense under short term leases of $5,238 and $4,275, during for the three months ended March 31, 2021 and 2020, respectively. Litigation and Contingencies We are subject to legal proceedings and claims that arise in the normal course of business. We believe these matters are either without merit or of a kind that should not have a material effect, individually or in the aggregate, on our financial position, results of operations or cash flows.

Note 14 - Stock Based Compensation

3 Months Ended

Mar. 31, 2021

Share-based Payment Arrangement [Text Block]

NOTE

14:

STOCK BASED COMPENSATION

Stock Option and Incentive Plan

March

24,

2020,

the Board of Directors approved the adoption of the

2020

Stock Incentive Plan (the

"2020

Plan”) to provide for the grant of equity-based awards to employees, officers, non-employee directors and other key persons providing services to the Company.

awards

may

be granted under the

2020

Plan after the date that is

years from the date of stockholder approval. An aggregate of

3,000,000

shares were initially reserved for issuance in connection with awards granted under the

2020

Plan and on

March 29, 2021

the Board of Directors approved adding

15,000,000

shares to the

2020

Plan, subject to stockholder approval.

The Company did

not

grant options to purchase shares of common stock during the

three

months ended

March

31,

2021

and

2020.

There were

options exercised during the

three

months ended

March

31,

2021

and

2020.

There are

670,000

shares available for grant under the

2020

Plan as of

March 31, 2021.

may

longer be granted under the expired

2010

Stock Option and Incentive Plan (the

"2010

Plan").

Compensation costs associated with the Company's stock options are recognized, based on the grant-date fair values of these options, over the requisite service period, or vesting period. Accordingly, the Company recognized stock-based compensation expense of

$639,751

and

$687,752

for the

three

months ended

March

31,

2021

and

2020.

Compensation cost is recognized in the following captions in the condensed consolidated statements of operations.

	Three Months Ended March 31,
	2021		2020
General and administrative	$	449,944	$	483,000
Research and development		189,807		204,752
Total stock compensation expense	$	639,751	$	687,752

Options issued and outstanding as of

March 31, 2021,

under the

2020

and

2010

Plans and their activities during the

three

months then ended are as follows:

	Number of Underlying Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Contractual Life Remaining in Years		Aggregate Intrinsic Value
Outstanding as of January 1, 2021		7,067,436	$	2.74		-	$
Granted		-		-		-
Exercised		-		-		-
Forfeited		-		-		-
Expired		-		-		-		-
Outstanding as of March 31, 2021		7,067,436		2.74		8.36	$	3,865,800
Exercisable as of March 31, 2021		5,108,435		3.05		8.09	$	2,943,244
Vested and expected to vest		7,067,436	$	2.74		8.36	$	3,865,800

March

31,

2021,

there were

1,959,001

unvested options outstanding and the related unrecognized total compensation cost associated with these options was approximately

$2,656,735.

This expense is expected to be recognized over a weighted-average period of

1.62

years.

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Basis of Accounting, Policy [Policy Text Block]

Basis of Presentation

-Q and Rule

of Regulation S-

They do

not

include all information and notes required by GAAP for complete financial statements. However, except as disclosed herein, there has been

material change in the information disclosed in the Notes to Consolidated Financial Statements included in the Annual Report on Form

-K of the Company for the year ended

December 31, 2020.

The year-end condensed consolidated balance sheet presented was derived from audited consolidated financial statements, but does

not

include all disclosures required by GAAP.

In the opinion of management, all adjustments (including normal recurring accruals) considered necessary for a fair presentation have been included. Operating results for the

three

months ended

March

31,

2021,

are

not

necessarily indicative of the results that

may

be expected for the year ending

December 31, 2021.

Use of Estimates, Policy [Policy Text Block]

Use of Estimates

Research and Development Expense, Policy [Policy Text Block]

Research and Development Expense

Fair Value Measurement, Policy [Policy Text Block]

Fair Value Measurements

three

broad levels. Level

inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities. Level

Share-based Payment Arrangement [Policy Text Block]

Stock-based Payments

ten

years with the vesting term, typically

one

four

years, as the Company does

not

have sufficient history of option exercise experience. The dividend yield assumption of

zero

is based upon the fact that the Company has never paid cash dividends and presently has

intention of paying cash dividends in the future. The risk-free interest rate used for each grant was based upon prevailing short-term interest rates over the expected life of the options.

Financial Instruments with Characteristics of Both Liabilities and Equity, Policy [Policy Text Block]

Financial Instruments with Characteristics of Both Liabilities and Equity

During

December 2020,

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

May 3,

2021,

the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU")

No.

2021

04,

Issuer

s Accounting for Certain Modifications or Exchanges of Freestanding Equity-Classified Written Call Options

December 15, 2021,

and interim periods within those fiscal years.

Recently Adopted Accounting Pronouncements

January 1, 2021,

the Company early adopted ASU

No.

2020

06,

Accounting for Convertible Instruments and

Contracts in an Entity's Own Equity

(Topic

815

)

December 15, 2023,

with early adoption permitted, but

not

earlier than fiscal years beginning after

December 15, 2020.

The Company implemented this ASU using the modified retrospective approach. Upon adoption, the Company recorded a cumulative adjustment to beginning Stockholders' Equity in the amount of

$13,003,075

to reclassify the common stock warrant liability to accumulated deficit and additional paid-in capital.

The cumulative effect of initially applying the new standard was recognized as an adjustment to accumulated deficit. Upon the adoption of the new standard we recognized the following adjustments:

	Ending Balance as of December 31, 2020			ASU 2020-06 Adjustments			Beginning Balance as of January 1, 2021
Warrant liability	$	13,003,075		$	(13,003,075	)	$	-
Additional paid-in capital		129,887,146			9,731,714			139,618,860
Accumulated deficit		(111,898,992	)		3,271,361			(108,627,631	)

The

$3,271,361

adjustment to accumulated deficit includes the reclassification of warrant financing expenses of

$938,794

and the change in fair value of common stock warrants of

$2,332,567

subsequent to initial recognition.

January 1, 2021,

the Company adopted ASU

2019

12,

Income Taxes, (Topic

740

): Simplifying the Accounting for Income Taxes

not

have a material effect on its condensed consolidated financial statements.

Note 3 - Summary of Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Standards Update and Change in Accounting Principle [Table Text Block]

	Ending Balance as of December 31, 2020			ASU 2020-06 Adjustments			Beginning Balance as of January 1, 2021
Warrant liability	$	13,003,075		$	(13,003,075	)	$	-
Additional paid-in capital		129,887,146			9,731,714			139,618,860
Accumulated deficit		(111,898,992	)		3,271,361			(108,627,631	)

Note 5 - Prepaid Expenses (Tables)

3 Months Ended

Mar. 31, 2021

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block]

	As of March 31,		As of December 31,
	2021		2020
Prepaid research and development	$	1,742,363	$	1,215,834
Prepaid insurance		554,405		417,854
Professional services		172,955		128,229
Financial exchange fees		43,500		-
Retainer and security deposits		14,218		14,218
Prepaid rent		18,720		4,488
Other		4,291		33,279
Total prepaid expenses	$	2,550,452	$	1,813,902

Note 7 - Payroll Liabilities (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Accrued Liabilities [Table Text Block]

	As of March 31,		As of December 31,
	2021		2020
Accrued bonuses	$	194,497	$	689,635
Accrued vacation		184,273		171,112
Accrued payroll		111,231		102,918
Total payroll liabilities	$	490,001	$	963,665

Note 8 - Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

March 31, 2021	Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Money market account	$	51,792,297	$	51,792,297	$	-	$	-

December 31, 2020	Estimated Fair Value		Level 1		Level 2		Level 3
Assets:
Money market account	$	1,789,401	$	1,789,401	$	-	$	-
Liabilities:
Common stock warrant liability	$	13,003,075	$	-	$	-	$	13,003,075

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

Warrant Liability
Beginning balance	$	13,003,075
Reclassification to equity upon adoption of accounting standard		(13,003,075	)
Issuance of warrants		-
Change in fair value		-
Ending balance	$	-

Note 9 - Stockholders' Equity (Tables)

3 Months Ended

Mar. 31, 2021

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

	Outstanding Warrants to Purchase Shares		Exercise Price		Expiration date
May 2018 warrants		1,068,892	$	4.05	May 30, 2022
December 2020 warrants		8,281,325	$	1.00	December 11, 2024-June 21, 2025
January 2021 warrants		5,293,163	$	1.055	July 8, 2025
March 2021 warrants		13,020,825	$	2.88	September 22, 2025
		27,664,205

Note 10 - Net Loss Per Share (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]

	Three Months Ended March 31,
	2021			2020
Numerator
Net loss attributable to common shareholders	$	(3,538,069	)	$	(2,947,420	)
Denominator
Weighted average common shares outstanding used to compute net loss per share, basic and diluted		92,587,168			9,130,984
Net loss per share of common stock, basic and diluted:	$	(0.04	)	$	(0.32	)

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

	Three Months Ended March 31,
	2021		2020
Options to purchase common stock		7,067,436		4,308,383
Series B convertible preferred stock		177,373		190,617
Warrants to purchase common stock		25,076,714		1,070,028
		32,321,523		5,569,028

Note 14 - Stock Based Compensation (Tables)

3 Months Ended

Mar. 31, 2021

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

	Number of Underlying Shares		Weighted- Average Exercise Price Per Share		Weighted- Average Contractual Life Remaining in Years		Aggregate Intrinsic Value
Outstanding as of January 1, 2021		7,067,436	$	2.74		-	$
Granted		-		-		-
Exercised		-		-		-
Forfeited		-		-		-
Expired		-		-		-		-
Outstanding as of March 31, 2021		7,067,436		2.74		8.36	$	3,865,800
Exercisable as of March 31, 2021		5,108,435		3.05		8.09	$	2,943,244
Vested and expected to vest		7,067,436	$	2.74		8.36	$	3,865,800

Share-based Payment Arrangement, Option [Member]

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

	Three Months Ended March 31,
	2021		2020
General and administrative	$	449,944	$	483,000
Research and development		189,807		204,752
Total stock compensation expense	$	639,751	$	687,752

Note 2 - Liquidity and Capital Resources (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Net Income (Loss) Attributable to Parent, Total	$ (3,538,069)	$ (2,947,420)
Net Cash Provided by (Used in) Operating Activities, Total	(4,408,788)	(3,229,995)
Cash and Cash Equivalents, at Carrying Value, Ending Balance	137,573,593	$ 9,351,141	$ 39,553,671
Working Capital	139,652,000
Proceeds from Issuance or Sale of Equity, Total	$ 102,429,000

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

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 3 - Summary of Accounting Policies (Details Textual) - USD ($)		3 Months Ended
	Jan. 01, 2021	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Dec. 31, 2019
Stockholders' Equity Attributable to Parent, Ending Balance		$ 139,701,399	$ 27,167,932	$ 10,896,337	$ 13,156,005
Retained Earnings [Member]
Stockholders' Equity Attributable to Parent, Ending Balance		$ (112,165,700)	(111,898,992)	$ (97,018,460)	$ (94,071,040)
Cumulative Effect, Period of Adoption, Adjustment [Member]
Stockholders' Equity Attributable to Parent, Ending Balance			13,003,075
Cumulative Effect, Period of Adoption, Adjustment [Member] \| Retained Earnings [Member]
Stockholders' Equity Attributable to Parent, Ending Balance			$ 3,271,361
Accounting Standards Update 2020-06 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member]
Stockholders' Equity Attributable to Parent, Ending Balance	$ 13,003,075
Reclassification of Warrant Financing Expenses	938,794
Fair Value Adjustment of Warrants	2,332,567
Accounting Standards Update 2020-06 [Member] \| Cumulative Effect, Period of Adoption, Adjustment [Member] \| Retained Earnings [Member]
Stockholders' Equity Attributable to Parent, Ending Balance	$ 3,271,361
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Vesting Term (Year)		1 year
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Vesting Term (Year)		4 years
Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)		10 years

Note 3 - Summary of Accounting Policies - New Accounting Standards Adoption (Details) - USD ($)	Mar. 31, 2021	Jan. 01, 2021	Dec. 31, 2020
Warrant liability			$ 13,003,075
Additional paid-in capital		139,618,860	129,887,146
Accumulated deficit	$ (112,165,700)	(108,627,631)	$ (111,898,992)
Accounting Standards Update 2020-06 [Member]
Warrant liability		(13,003,075)
Additional paid-in capital		9,731,714
Accumulated deficit		$ 3,271,361

Note 4 - Restricted Cash (Details Textual) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020
Restricted Cash and Cash Equivalents, Total	$ 110,000	$ 110,000	$ 110,000

Note 5 - Prepaid Expenses - Schedule of Prepaid Expenses (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Prepaid research and development	$ 1,742,363	$ 1,215,834
Prepaid insurance	554,405	417,854
Professional services	172,955	128,229
Financial exchange fees	43,500
Retainer and security deposits	14,218	14,218
Prepaid rent	18,720	4,488
Other	4,291	33,279
Total prepaid expenses	$ 2,550,452	$ 1,813,902

Note 6 - Research and Development Tax Rebate Receivable (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	May 23, 2017
Research and Development Expense, Total	$ 1,378,487	$ 938,620
Research and Development Tax Rebate Receivable	720,029		$ 634,940
Atossa Genetics AUS Pty Ltd [Member]
Research and Development Cash Rebate per Dollar				$ 0.435
Research and Development Expense, Total	133,452	133,447
Research and Development Tax Rebate Receivable	720,029		$ 634,940
Foreign Currency Transaction Gain (Loss), Realized	$ 5,945	$ 19,965

Note 7 - Payroll Liabilities - Schedule of Payroll Liabilities (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Accrued bonuses	$ 194,497	$ 689,635
Accrued vacation	184,273	171,112
Accrued payroll	111,231	102,918
Total payroll liabilities	$ 490,001	$ 963,665

Note 8 - Fair Value of Financial Instruments - Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Common stock warrant liability		$ 13,003,075
Fair Value, Inputs, Level 1 [Member]
Common stock warrant liability
Fair Value, Inputs, Level 2 [Member]
Common stock warrant liability
Fair Value, Inputs, Level 3 [Member]
Common stock warrant liability		13,003,075
Money Market Funds [Member]
Money market account	$ 51,792,297	1,789,401
Money Market Funds [Member] \| Fair Value, Inputs, Level 1 [Member]
Money market account	51,792,297	1,789,401
Money Market Funds [Member] \| Fair Value, Inputs, Level 2 [Member]
Money market account
Money Market Funds [Member] \| Fair Value, Inputs, Level 3 [Member]
Money market account

Note 8 - Fair Value of Financial Instruments - Changes in Warrant Liability (Details) - Warrant Liability [Member]	3 Months Ended
	Mar. 31, 2021 USD ($)
Beginning balance	$ 13,003,075
Reclassification to equity upon adoption of accounting standard	(13,003,075)
Issuance of warrants
Change in fair value
Ending balance

Note 9 - Stockholders' Equity (Details Textual) - USD ($)				3 Months Ended
	Mar. 22, 2021	Jan. 08, 2021	Jan. 06, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Number of Shares Authorized to Issue (in shares)				185,000,000
Common Stock, Shares Authorized (in shares)				175,000,000		175,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.18		$ 0.18
Preferred Stock, Shares Authorized (in shares)				10,000,000		10,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001		$ 0.001
Preferred Stock, Shares Issued, Total (in shares)				620		621
Issuance of Common Stock and Warrants, Issuance Costs				$ 5,493,310
Class of Warrant or Right, Outstanding (in shares)				27,664,205
Proceeds from Warrant Exercises				$ 32,760,302	$ 0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)				620		621
Conversion of Series B Convertible Preferred Stock into Common Stock [Member]
Convertible Preferred Stock, Shares Issued upon Conversion (in shares)				285	0
The 2021 Financing Transaction Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	13,020,825
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)				1
Warrants and Rights Outstanding, Term (Year)	4 years 182 days
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)				$ 1.055
Warrants and Rights Outstanding, Percent of Shares Sold Warrants May Call	75.00%
Warrants Exercisable, Ownership Percentage of Company’s Shares Allowed				4.99%
Common Stock, Convertible, Ownership Percentage of Company’s Shares Allowed				9.99%
Proceeds from Warrant Exercises				$ 13,300,000
Class of Warrant or Right, Exercised During Period (in shares)				12,600,000
Stock Issued During Period, Shares, Warrant Exercised (in shares)				12,600,000
The 2020 Warrants [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)				$ 1
Class of Warrant or Right, Outstanding (in shares)				8,281,325
Proceeds from Warrant Exercises				$ 19,500,000
Class of Warrant or Right, Exercised During Period (in shares)				19,500,000
Stock Issued During Period, Shares, Warrant Exercised (in shares)				19,500,000
The 2021 Financing Transaction [Member]
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.18		$ 0.18
Stock Issued During Period, Shares, New Issues (in shares)	17,361,100		23,850,000
Issuance of Common Stock and Warrants, Combined Purchase Price Per Share (in dollars per share)			$ 1.055
Stock Issuance Costs, Commission Fee Percent	7.00%		7.00%
Maximum Stock Issuance Expenses to Reimburse Placement Agent	$ 45,000		$ 45,000
Proceeds From Issuance of Common Stock and Warrants, Net of Issuance Costs	$ 46,400,000	$ 23,300,000
Shares Issued, Price Per Share (in dollars per share)	$ 2.88
Issuance of Common Stock and Warrants, Issuance Costs	$ 70,000
The 2021 Financing Transaction [Member] \| The 2021 Financing Transaction Warrants [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)			17,887,500
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares)			0.75
Warrants and Rights Outstanding, Term (Year)			4 years 182 days
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)			$ 1.055
Series A Junior Participating Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)				750,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001
Preferred Stock, Shares Issued, Total (in shares)				0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						0
Series A Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)				4,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001
Preferred Stock, Shares Issued, Total (in shares)				0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						0
Series B Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)				25,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001
Series C Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)				5,425
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.001
Preferred Stock, Shares Issued, Total (in shares)				0
Preferred Stock, Shares Outstanding, Ending Balance (in shares)						0

Note 9 - Stockholders' Equity - Outstanding Warrants (Details)	Mar. 31, 2021 $ / shares shares
Outstanding Warrants to Purchase Shares (in shares)	27,664,205
The 2018 Warrants [Member]
Outstanding Warrants to Purchase Shares (in shares)	1,068,892
Exercise Price (in dollars per share) \| $ / shares	$ 4.05
Expiration date	May 30, 2022
The 2020 Warrants [Member]
Outstanding Warrants to Purchase Shares (in shares)	8,281,325
Exercise Price (in dollars per share) \| $ / shares	$ 1
January 2021 Warrants [Member]
Outstanding Warrants to Purchase Shares (in shares)	5,293,163
Exercise Price (in dollars per share) \| $ / shares	$ 1.055
Expiration date	Jul. 08, 2025
March 2021 Warrants [Member]
Outstanding Warrants to Purchase Shares (in shares)	13,020,825
Exercise Price (in dollars per share) \| $ / shares	$ 2.88
Expiration date	Sep. 22, 2025

Note 10 - Net Loss Per Share - Schedule of Earnings Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net loss attributable to common shareholders	$ (3,538,069)	$ (2,947,420)
Weighted average common shares outstanding used to compute net loss per share, basic and diluted (in shares)	92,587,168	9,130,984
Net loss per share of common stock, basic and diluted: (in dollars per share)	$ (0.04)	$ (0.32)