XML 86 R70.htm IDEA: XBRL DOCUMENT v3.8.0.1
Commitments and Contingencies (Details Narrative) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Dec. 31, 2016
Dec. 19, 2016
Sep. 30, 2016
Oct. 30, 2013
Dec. 31, 2016
Dec. 31, 2015
Deferred compensation obligation       $ 2,000
Number of shares granted         156 0.00
Number of shares issued         13,320  
Office and Computer Equipment [Member]            
Accumulated amortization           $ 69
Research and Development Equipment [Member]            
Accumulated amortization           $ 21
Restricted Stock Units (RSUs) [Member]            
Number of shares granted 15,430 19,290 440,000   474,720 [1]
Former Chief executive officer [Member]            
Number of shares issued         120,000  
Resolution of dispute expense         $ 300  
2013 Employment Agreements [Member] | Chief executive officer [Member]            
Agreement term       3 years    
Additional renewal agreement term       3 years    
Signing bonus       $ 1,000    
Description of signing bonus terms      

The signing bonus was to be paid over three years in eleven quarterly installments of $91 per quarter, payable only from product revenue after providing for all operational expenses and such bonus was not to be paid from funds received from capital investment.

    
Deferred compensation obligation       $ 2,000    
Description of employment agreement terms      

The agreements provided for, at the employees’ election, a lump sum cash payment equal to the current value of shares of common stock held, or no less than $3.00 per share, whichever is greater. In addition, upon the sale of the Company, the agreement provided for a bonus of (a) 1% of the amount of the net sales price that is $100,000 or less and (ii) 0.5% of the amount of the net sales price that is more than $100,000. Under the terms of the agreement, this change of control bonus would be paid regardless of whether employed by the Company at the time of any sale of all or a portion of the stock or assets, and if deceased, such amount would be paid to the employees’ estate.

    
Percentage of cash payment for phantom equity interest patents on gross profits interest       0.50%    
2016 Employment Agreements [Member] | Chief executive officer [Member]            
Description of signing bonus terms        

The 2016 agreements provides for a bonus of (a) 1% of the amount of the net sales price of the Company that is $100,000 or less, plus (ii) an additional 0.5% of the amount of the net sales price of the Company that is more than $100,000, payable in cash or other proceeds payable to other stockholders in such Company.

  
2016 Employment Agreements [Member] | Chief executive officer [Member] | Restricted Stock Units (RSUs) [Member]            
Number of shares granted         220,000  
Expiration term         3 years  
Description of vesting rights        

The RSU award will vest and be settled over a three-year period, with one- third of the units vesting on the twelve-month anniversary of the date of grant, and the remaining units vesting in equal quarterly tranches over the following twenty-four months of continuous service.

  
Settled Litigation [Member] | Neogen Settlement Agreement [Member] | General and Administrative Expense [Member]            
One-time payment         $ 1,000  
[1] 440,000 restricted stock units were granted and issued on September 30th with a weighted average grant date fair value of $0.50 and vest 1/3 on the first anniversary of grant and the remaining balance quarterly over the subsequent 8 quarters. 19,290 restricted stock units were granted on December 19, 2016 with a weighted average grant date fair value of $8.10 and vested immediately. An additional 15,430 restricted stock units were granted on December 19, 2016 and fully vest on the first anniversary of grant. The Company accounts for the restricted stock units as equity-settled awards in accordance with ASC 718. The total fair value of restricted stock units vested during the years ended December 31, 2016 and 2015 was $156 and $0.00, respectively.