STOCKHOLDERS' EQUITY (Details Narrative) - USD ($)
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1 Months Ended |
3 Months Ended |
6 Months Ended |
9 Months Ended |
12 Months Ended |
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Jun. 11, 2018 |
May 16, 2018 |
May 15, 2018 |
Apr. 24, 2018 |
Apr. 19, 2018 |
Apr. 16, 2018 |
Apr. 02, 2018 |
Aug. 24, 2017 |
Jul. 19, 2017 |
Jul. 14, 2017 |
Jul. 13, 2017 |
Dec. 06, 2016 |
Sep. 22, 2016 |
Jul. 31, 2017 |
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2018 |
Jun. 30, 2017 |
Sep. 30, 2017 |
Apr. 04, 2018 |
Aug. 21, 2017 |
Apr. 05, 2016 |
Mar. 26, 2013 |
Dec. 10, 2012 |
Mar. 22, 2012 |
Aug. 03, 2006 |
Common stock authorized |
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250,000,000
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250,000,000
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250,000,000
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500,000,000
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Common stock outstanding |
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6,261,597
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6,261,597
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6,261,597
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4,299,311
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Number of options outstanding |
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888,059
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888,059
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888,059
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554,083
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Common stock exercise price (in dollars per share) |
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$ 10.49
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$ 10.49
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$ 10.49
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$ 16.14
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Total unrecognized stock-based compensation |
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$ 1,388,400
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$ 1,388,400
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$ 1,388,400
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$ 641,600
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Number of vested shares |
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560,929
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249,284
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Number of unvested shares |
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327,069
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327,069
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327,069
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304,799
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Gross cash proceeds |
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2,981,300
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Restricted Stock [Member] |
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Number of equity instruments other than options outstanding |
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406,564
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406,564
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406,564
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222,750
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Total unrecognized stock-based compensation |
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$ 186,600
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$ 186,600
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$ 186,600
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224,900
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Number of vested shares |
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167,708
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Number of unvested shares |
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75,483
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75,483
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75,483
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55,042
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Number of shares granted under the plan |
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183,814
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Stock Option [Member] |
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Total unrecognized stock-based compensation |
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$ 1,201,800
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$ 1,201,800
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$ 1,201,800
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$ 416,700
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2006 Stock Incentive Plan [Member] |
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Common stock outstanding |
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1,452
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1,452
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1,452
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Number of shares reserved for future issuance |
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3,339
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2012 Omnibus Incentive Compensation Plan [Member] |
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Common stock purchase price (in dollars per share) |
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$ 0.001
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Common stock authorized |
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975,000
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Weighted exercise price of awarded shares (in dollars per share) |
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$ 5.27
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$ 5.27
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$ 5.27
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Number of options outstanding |
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886,546
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886,546
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886,546
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Common stock exercise price (in dollars per share) |
$ 2.35
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$ 2.98
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Number of options authorized |
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200,000
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75,000
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27,500
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1,667
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Number of authorized shares available for grant previously |
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885,781
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Number of authorized shares available for grant |
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1,570,248
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Maximum number of shares granted to individual |
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150,000
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Number of stock options granted |
5,000
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10,000
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Description of plan terms |
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of
each year through 2022, automatically increases the number of shares subject to the 2012 Plan by the lesser of: (a) a number equal
to 10% of the shares of Common Stock authorized under the 2012 Plan as of the preceding December 31st, or (b) an amount, or no
amount, as determined by the Board, but in no event may the number of shares of Common Stock authorized under the 2012 Plan exceed
885,781 and (iii) increase the annual individual award limits under the 2012 Plan to 100,000 shares of Common Stock, subject to
adjustment in accordance with the 2012 Plan. Per the above mentioned “evergreen” provision, an additional 50,000 shares
were automatically allocated for distribution under the 2012 Plan as of January 1, 2017.
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2012 Omnibus Incentive Compensation Plan [Member] | Restricted Stock [Member] |
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Number of shares reserved for future issuance |
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206,890
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206,890
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206,890
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Number of equity instruments other than options outstanding |
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406,564
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406,564
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406,564
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Warrant [Member] | Pro-Rate Option [Member] |
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Number of common stock issued |
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2,539,061
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Warrant exercise price (in dollars per share) |
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$ 5.25
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Number of each warrant called |
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1
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Warrant [Member] | Public Offering [Member] |
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Number of common stock issued |
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134,000
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1,675,000
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Common Stock [Member] | Public Offering [Member] |
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Number of common stock issued |
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1,675,000
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Maximum [Member] | 2006 Stock Incentive Plan [Member] |
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Common stock exercise price (in dollars per share) |
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$ 3,300
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Maximum [Member] | 2012 Omnibus Incentive Compensation Plan [Member] |
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Common stock exercise price (in dollars per share) |
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$ 600.00
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$ 600.00
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$ 600.00
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Minimum [Member] | 2006 Stock Incentive Plan [Member] |
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Common stock exercise price (in dollars per share) |
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$ 2,400
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Minimum [Member] | 2012 Omnibus Incentive Compensation Plan [Member] |
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Common stock exercise price (in dollars per share) |
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1.55
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$ 1.55
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1.55
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Underwriters [Member] | Warrant [Member] | 45-day Option Over-Allotment Option [Member] |
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Number of common stock issued |
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213,800
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Mr. Robin L. Smith, M.D [Member] | 2012 Plan [Member] |
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Number of options outstanding |
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50,000
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75,000
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Common stock exercise price (in dollars per share) |
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$ 1.99
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$ 1.55
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Senior Consultants [Member] | 2012 Plan [Member] |
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Number of options outstanding |
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213,000
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Common stock exercise price (in dollars per share) |
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$ 1.55
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Second Common Stock Purchase Agreement [Member] | Aspire Capital Fund, LLC [Member] |
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Number of common shares purchased |
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10,000,000
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Agreement term |
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30 months
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Common stock purchase price (in dollars per share) |
$ 7.25
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$ 0.50
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Description of purchase notice |
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Amount equal to 50,000 shares and the closing sale
price of the Company's stock is greater than $0.50 per share, the Company also has the right, in its sole discretion, to present
Aspire Capital with a volume-weighted average price purchase notice (each, a “VWAP Purchase Notice”) directing Aspire
Capital to purchase an amount of stock equal to up to 30% of the aggregate shares of the Company’s common stock traded on
its principal market on the next trading day (the “VWAP Purchase Date”), subject to a maximum number of shares the
Company may determine. The purchase price per share pursuant to such VWAP Purchase Notice is generally 95% of the volume-weighted
average price for the Company’s common stock traded on its principal market on the VWAP Purchase Date.
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Number of common stock issued |
222,222
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Proceeds from issuance of private placement |
$ 500,000
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Second Common Stock Purchase Agreement [Member] | Aspire Capital Fund, LLC [Member] | Commitment Shares [Member] |
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Number of common shares purchased |
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2,500,000
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Second Common Stock Purchase Agreement [Member] | Aspire Capital Fund, LLC [Member] | Maximum [Member] |
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Number of shares sold per day |
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50,000
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First Common Stock Purchase Agreement [Member] | Aspire Capital Fund, LLC [Member] |
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Number of common shares purchased |
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10,000,000
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1,180,000
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Agreement term |
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30 months
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Common stock purchase price (in dollars per share) |
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$ 0.50
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$ 2.00
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$ 2.00
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$ 2.00
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Description of purchase notice |
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Amount equal to 50,000 shares and the closing sale
price of the Company's stock is greater than $0.50 per share, the Company also has the right, in its sole discretion, to present
Aspire Capital with a volume-weighted average price purchase notice (each, a “VWAP Purchase Notice”) directing Aspire
Capital to purchase an amount of stock equal to up to 30% of the aggregate shares of the Company’s common stock traded on
its principal market on the next trading day (the “VWAP Purchase Date”), subject to a maximum number of shares the
Company may determine. The purchase price per share pursuant to such VWAP Purchase Notice is generally 95% of the volume-weighted
average price for the Company’s common stock traded on its principal market on the VWAP Purchase Date.
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Gross cash proceeds |
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$ 2,400,000
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First Common Stock Purchase Agreement [Member] | Aspire Capital Fund, LLC [Member] | Maximum [Member] |
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Number of shares sold per day |
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50,000
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Chairman Services Agreement [Member] | Mr. Robin L. Smith, M.D [Member] |
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Annual cash fee |
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$ 250,000
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$ 300,000
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Chairman Services Agreement [Member] | Mr. Robin L. Smith, M.D [Member] | Stock Option [Member] |
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Expiration period |
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10 years
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Chairman Services Agreement [Member] | Mr. Robin L. Smith, M.D [Member] | 2012 Omnibus Incentive Compensation Plan [Member] | Restricted Stock [Member] |
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Number of shares granted under the plan |
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25,000
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Chairman Services Agreement [Member] | Mr. Robin L. Smith, M.D [Member] | 2012 Omnibus Incentive Compensation Plan [Member] | Stock Option [Member] |
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Number of stock options granted |
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75,000
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Number of option to purchase granted annual award limits |
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50,000
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Chairman Services Agreement [Member] | Mr. Robin L. Smith, M.D [Member] | 2012 Plan [Member] |
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Number of stock options granted |
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50,000
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Employment Agreement [Member] | Mr. George C. Carpenter, IV [Member] |
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Annual cash fee |
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$ 206,250
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$ 270,000
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Employment Agreement [Member] | Mr. George C. Carpenter, IV [Member] | 2012 Plan [Member] | Restricted Stock [Member] |
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Number of stock options granted |
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34,380
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Advisory Agreement [Member] | Maxim Group LLC [Member] |
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Description of compensation under the agreement |
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The agreement shall be 100,000 shares of the Company’s
Common Stock, payable in one payment of 50,000 shares of Common Stock and five payments of 10,000 shares of Common Stock.
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