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Note 10 - Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

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

	June 30, 2017
	(Level 1)		(Level 2)		(Level 3)
Assets
Cash and cash equivalents	$	7,413,399	$	—	$	—
Certificate of deposit	$	10,000,000

Liabilities
Common stock warrant liability	$	—	$	—	$	24,757,670

	December 31, 2016
	(Level 1)		(Level 2)		(Level 3)
Assets
Cash and cash equivalents	$	1,552,852	$	—	$	—

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

	Common Stock Warrant Liability
Balance at December 31, 2016	$	—
Issued in connection with the Series A convertible preferred stock		35,225,846
Change in fair value		(10,468,176	)
Balance at June 30, 2017	$	24,757,670

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

Stock price	$	2.33
Exercise price	$	2.22
Expected term (in years)		4.75
Risk-free interest rate		1.9	%
Expected volatility		110.0	%
Dividend yield		—

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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