Note 11 - Subsequent Events	3 Months Ended
Mar. 31, 2020
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 11 – SUBSEQUENT EVENTS Acquisition from Soluble Therapeutics and BioDtech On May 27, 2020, the Company entered into an asset purchase agreement with InventaBioTech and its subsidiary Soluble to purchase certain assets including but not limited to certain intellectual property relating to CRO services and technology, certain equipment useful in such services and technology and all other assets held by Soluble relating to CRO as well as all intellectual property and other assets held by BioDtech, Inc., a related party to InventaBioTech, in exchange for termination and waiver of all remaining amounts due and payable under the note receivable from CytoBioscience and 125,000 shares of the Company’s common stock. Schwartz Note Exchange Effective as of April 21, 2020, the Company and Carl Schwartz, entered into an exchange agreement relating to a promissory note of the Company dated January 31, 2020 issued by the Company in the principal amount of $2,115,000. The note bore twelve percent ( 12% ) interest per annum and had a maturity date of September 30, 2020. The accrued interest on the note through April 21, 2020 was $77,878, resulting in a total balance of $2,192,878 in principal and accrued interest on the Note as of such date. Dr. Schwartz and the Company agreed to exchange the note for newly issued shares of common stock of the Company at market value. Pursuant to the exchange agreement, Dr. Schwartz was issued 1,533,481 shares of newly issued common stock at an exchange rate of $1.43 per share, equal to the closing price of the common stock on April 21, 2020. Dr. Schwartz agreed ( 1 ) not to sell or otherwise transfer 766,740 shares for three months after the date of the exchange agreement, and ( 2 ) not to sell or otherwise transfer the remaining 766,741 shares for six months after the date of the exchange agreement. April 2020 Paycheck Protection Program On April 20, 2020, the Company entered into a promissory note with Park State Bank, which provides for an unsecured loan of $541,867 pursuant to the Paycheck Protection Program (the “PPP”) under the Coronavirus Aid, Relief, and Economic Security Act and applicable regulations (the “CARES Act”). The promissory note has a term of 2 years with a 1% per annum interest rate. Payments are deferred for 6 months from the date of the promissory note and the Company can apply for forgiveness of all or a portion of the promissory note after 60 days for covered use of funds. Pursuant to the terms of the PPP, the promissory note, or a portion thereof, may be forgiven if proceeds are used for qualifying expenses as described in the CARES Act, such as payroll costs, costs used to continue group health care benefits, mortgage interest payments, rent and utilities. The Company intends to use all proceeds for qualifying expenses. However, there is no assurance that we will be able to obtain forgiveness of this loan. The terms of the promissory note, including eligibility and forgiveness, may be subject to further requirements in regulations and guidance adopted by the Small Business Administration. May 2020 Registered Direct Offering and Concurrent Private Placement of Warrants During May 2020, the Company entered into a securities purchase agreement with certain accredited investors for a registered direct offering of 1,396,826 shares of common stock, par value $0.01 per share. In a concurrent private placement, the Company also issued such investors warrants to purchase up to an aggregate of 1,396,826 shares of common stock. The shares and the warrants were sold at a combined offering price of $1.575 per share and associated warrant. Each warrant is exercisable immediately upon issuance at an exercise price of $1.45 per share and will expire five and one -half years from the issue date. The sale of the offering shares and associated warrants resulted in gross proceeds of $2,200,001 and net proceeds of $1,930,101 after deducting the placement agent fees and estimated offering expenses payable by the Company. The Company used the net proceeds from the offering to repay certain indebtedness and agreed to use the remaining net proceeds from the offering for general corporate purposes. The offering closed on May 8, 2020. Conversion of Series D Preferred Shares During April 2019, the Company issued 3,500,000 shares of Series D preferred stock to Helomics as part of the acquisition. Each share of Series D preferred stock was subject to automatic conversion, whereby each such share converts automatically on a 10:1 basis into a share of the Company’s common stock. On April 4, 2020, 3,500,000 shares of Series D convertible preferred stock were converted into 350,004 shares of common stock. Pending Conversion of Series E Preferred Shares In May 2020, we notified the holders of our Series E Convertible Preferred Stock of our election to convert the outstanding shares of Series E Stock into common stock effective on June 13, 2020 pursuant to the terms of the Series E Stock. Currently, there are 207.7 shares of Series E Stock outstanding. Each share of Series E Stock will convert into 0.056857% of the issued and outstanding shares of common stock immediately prior to conversion; therefore, assuming that there are 207.7 outstanding shares of Series E Stock on June 13, 2020, the shares will be converted into shares of common stock equal to 11.8092% of the outstanding shares of common stock as of June 12, 2020. Licensing and Collaboration using NSP- 10 The Company entered into a licensing arrangement for a novel nanoparticle vaccine platform recently developed by Dr. Daniel Carter. The vaccine technology being developed by Dr. Carter is based on a self-assembling nanoparticle called NSP- 10 (“Non Specific Protein”) which follows a foundational vaccine platform developed earlier by Dr. Carter and his team. NSP- 10 received notice of allowance from the US Patent Office in February 2020. The Company’s next step, in support of its collaboration with Dr. Carter, is seeking quotes for a Phase 1 clinical trial from one or more of the BARDA approved CROs. Newly formed subsidiaries The Company formed Extraordinary Vaccine Development Corporation as a wholly owned subsidiary in May 2020. This subsidiary will operate all business associated with the use of NSP- 10 and the Company’s collaboration with Dr. Carter. The Company also formed Soluble Biotech Inc. as a wholly owned subsidiary in May 2020. This subsidiary will operate the assets of Soluble Therapeutics and BioDtech that Company acquired in May 2020. The Company has evaluated all of its activities and concluded that no other subsequent events have occurred that would require recognition in the condensed consolidated financial statements or disclosure in the notes to the condensed consolidated financial statements, except as described above.

NOTE

– SUBSEQUENT EVENTS

Acquisition from Soluble Therapeutics and BioDtech

May 27, 2020,

the Company entered into an asset purchase agreement with InventaBioTech and its subsidiary Soluble to purchase certain assets including but

not

limited to certain intellectual property relating to CRO services and technology, certain equipment useful in such services and technology and all other assets held by Soluble relating to CRO as well as all intellectual property and other assets held by BioDtech, Inc., a related party to InventaBioTech, in exchange for termination and waiver of all remaining amounts due and payable under the note receivable from CytoBioscience and

125,000

shares of the Company’s common stock.

Schwartz Note Exchange

Effective as of

April 21, 2020,

the Company and Carl Schwartz, entered into an exchange agreement relating to a promissory note of the Company dated

January 31, 2020

issued by the Company in the principal amount of

$2,115,000.

The note bore

twelve

percent (

12%

) interest per annum and had a maturity date of

September 30, 2020.

The accrued interest on the note through

April 21, 2020

was

$77,878,

resulting in a total balance of

$2,192,878

in principal and accrued interest on the Note as of such date.

Dr. Schwartz and the Company agreed to exchange the note for newly issued shares of common stock of the Company at market value. Pursuant to the exchange agreement, Dr. Schwartz was issued

1,533,481

shares of newly issued common stock at an exchange rate of

$1.43

per share, equal to the closing price of the common stock on

April 21, 2020.

Dr. Schwartz agreed (

)

not

to sell or otherwise transfer

766,740

shares for

three

months after the date of the exchange agreement, and (

)

not

to sell or otherwise transfer the remaining

766,741

shares for

six

months after the date of the exchange agreement.

April 2020

Paycheck Protection Program

April 20, 2020,

the Company entered into a promissory note with Park State Bank, which provides for an unsecured loan of

$541,867

pursuant to the Paycheck Protection Program (the “PPP”) under the Coronavirus Aid, Relief, and Economic Security Act and applicable regulations (the “CARES Act”). The promissory note has a term of

years with a

per annum interest rate. Payments are deferred for

months from the date of the promissory note and the Company can apply for forgiveness of all or a portion of the promissory note after

days for covered use of funds.

Pursuant to the terms of the PPP, the promissory note, or a portion thereof,

may

be forgiven if proceeds are used for qualifying expenses as described in the CARES Act, such as payroll costs, costs used to continue group health care benefits, mortgage interest payments, rent and utilities. The Company intends to use all proceeds for qualifying expenses. However, there is

assurance that we will be able to obtain forgiveness of this loan. The terms of the promissory note, including eligibility and forgiveness,

may

be subject to further requirements in regulations and guidance adopted by the Small Business Administration.

May 2020

Registered Direct Offering and Concurrent Private Placement of Warrants

During

May 2020,

the Company entered into a securities purchase agreement with certain accredited investors for a registered direct offering of

1,396,826

shares of common stock, par value

$0.01

per share. In a concurrent private placement, the Company also issued such investors warrants to purchase up to an aggregate of

1,396,826

shares of common stock. The shares and the warrants were sold at a combined offering price of

$1.575

per share and associated warrant. Each warrant is exercisable immediately upon issuance at an exercise price of

$1.45

per share and will expire

five

and

one

-half years from the issue date. The sale of the offering shares and associated warrants resulted in gross proceeds of

$2,200,001

and net proceeds of

$1,930,101

after deducting the placement agent fees and estimated offering expenses payable by the Company. The Company used the net proceeds from the offering to repay certain indebtedness and agreed to use the remaining net proceeds from the offering for general corporate purposes. The offering closed on

May 8, 2020.

Conversion of Series D Preferred Shares

During

April 2019,

the Company issued

3,500,000

shares of Series D preferred stock to Helomics as part of the acquisition. Each share of Series D preferred stock was subject to automatic conversion, whereby each such share converts automatically on a

10:1

basis into a share of the Company’s common stock. On

April 4, 2020,

3,500,000

shares of Series D convertible preferred stock were converted into

350,004

shares of common stock.

Pending Conversion of Series E Preferred Shares

May 2020,

we notified the holders of our Series E Convertible Preferred Stock of our election to convert the outstanding shares of Series E Stock into common stock effective on

June 13, 2020

pursuant to the terms of the Series E Stock. Currently, there are

207.7

shares of Series E Stock outstanding. Each share of Series E Stock will convert into

0.056857%

of the issued and outstanding shares of common stock immediately prior to conversion; therefore, assuming that there are

207.7

outstanding shares of Series E Stock on

June 13, 2020,

the shares will be converted into shares of common stock equal to

11.8092%

of the outstanding shares of common stock as of

June 12, 2020.

Licensing and Collaboration using NSP-

The Company entered into a licensing arrangement for a novel nanoparticle vaccine platform recently developed by Dr. Daniel Carter. The vaccine technology being developed by Dr. Carter is based on a self-assembling nanoparticle called NSP-

(“Non Specific Protein”) which follows a foundational vaccine platform developed earlier by Dr. Carter and his team. NSP-

received notice of allowance from the US Patent Office in

February 2020.

The Company’s next step, in support of its collaboration with Dr. Carter, is seeking quotes for a Phase

clinical trial from

one

or more of the BARDA approved CROs.

Newly formed subsidiaries

The Company formed Extraordinary Vaccine Development Corporation as a wholly owned subsidiary in

May 2020.

This subsidiary will operate all business associated with the use of NSP-

and the Company’s collaboration with Dr. Carter.

The Company also formed Soluble Biotech Inc. as a wholly owned subsidiary in

May 2020.

This subsidiary will operate the assets of Soluble Therapeutics and BioDtech that Company acquired in

May 2020.

The Company has evaluated all of its activities and concluded that

other subsequent events have occurred that would require recognition in the condensed consolidated financial statements or disclosure in the notes to the condensed consolidated financial statements, except as described above.