0001171843-21-003444 | 10-Q | XBRL Viewer

Significant Accounting Policies [Text Block]

NOTE

– SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Operations and Continuance of Operations

Predictive Oncology Inc. (the “Company”) was originally incorporated on

April 23, 2002

in Minnesota as BioDrain Medical, Inc. Effective

August 6, 2013,

the Company changed its name to Skyline Medical Inc. Pursuant to an Agreement and Plan of Merger effective

December 16, 2013,

the Company merged with and into a Delaware corporation with the same name that was its wholly owned subsidiary, with such Delaware corporation as the surviving corporation of the merger. On

August 31, 2015,

the Company completed a successful offering and concurrent uplisting to the NASDAQ Capital Market. On

February 1, 2018,

the Company filed with the Secretary of State of Delaware a Certificate of Amendment to its Certificate of Incorporation to change the corporate name from Skyline Medical Inc. to Precision Therapeutics Inc., effective

February 1, 2018.

Because of this change, the Company's common stock traded under the ticker symbol “AIPT,” effective

February 2, 2018.

June 10, 2019,

the Company filed with the Secretary of State of Delaware a Certificate of Amendment to its Certificate of Incorporation to change the corporate name from Precision Therapeutics Inc. to Predictive Oncology Inc., trading under the new ticker symbol “POAI,” effective

June 13, 2019.

Skyline Medical (“Skyline”) remains as an incorporated division of Predictive Oncology Inc.

The Company is a healthcare company that provides personalized medicine solutions and medical devices in

two

main areas: (

) precision medicine, which aims to apply artificial intelligence to personalized medicine and drug discovery, primarily through its wholly owned subsidiary Helomics Holding Corporation (“Helomics”) and (

) an environmentally-safe system for the collection and disposal of infectious fluids that result from surgical procedures and post-operative care through its incorporated division Skyline. The Company sells proprietary cleaning fluid and filters to users of its systems.

In addition, the Company's wholly owned subsidiary, TumorGenesis Inc. (“TumorGenesis”), is developing the next generation, patient-derived tumor models for precision cancer therapy and drug development. TumorGenesis is presented as part of the condensed consolidated financial statements and is included in corporate in the Company's segment reporting.

During the

first

quarter of

2018,

the Company acquired

25%

of the capital stock of Helomics Holding Corporation (“Helomics”). On

April 4, 2019,

the Company completed a forward triangular merger with Helomics Acquisition Inc., a wholly owned subsidiary of the Company and Helomics, acquiring the remaining

75%

of the capital stock of Helomics.

The Company had cash and cash equivalents of

$27,299,407

as of

March 31, 2021.

As of

March 31, 2021,

there was

outstanding debt. In

October 2019,

the Company entered into a purchase agreement for an equity line under which it can raise up to

$15,000,000

over a

three

-year period, subject to market conditions including trading volume and stock price. As of

March 31, 2021,

there was

$9,789,419

remaining in available balance under the equity line. Additional needs to access this line will be dilutive.

January

and

February 2021,

the Company received aggregate net proceeds of

$31,077,231

in a series of registered direct offerings and a private placement of equity securities. On

March 1, 2021,

the Company used

$5,906,802

of the net proceeds from the private placement to pay the remaining principal and interest on the loans originally issued in

September 2018,

September 2019,

and

February 2020

and to pay premium due upon such repayment. The remaining net proceeds of the

2021

transactions have been or will be used for working capital.

The Company believes that its existing capital resources will be sufficient to support its operating plan at least through

June 30, 2022.

However, the Company

may

also seek to raise additional capital to support its growth through additional debt, equity or other alternatives or a combination thereof. The Company currently expects to use cash on hand to fund capital and equipment investments, research and development, and its operations, over the next

twelve

months and beyond, and expects such sources to be sufficient to fund its requirements over that time.

Coronavirus Outbreak

March 2020,

the World Health Organization declared the recent spread of COVID-

to be a global pandemic. In response to the crisis, emergency measures have been imposed by governments worldwide, including mandatory social distancing and the shutdown of non-essential businesses. These measures have adversely impacted the global economy, disrupted global supply chains, and created significant volatility and disruption of financial markets. While it is

not

currently possible to estimate the duration and severity of the COVID-

pandemic or the adverse economic impact resulting therefrom, our business and operations have been and will likely continue to be materially and adversely affected. For example, our contract manufacturer for the STREAMWAY® System has been forced to change locations, thereby delaying our order fulfillment for parts. We have also reduced on-site staff at several of our facilities, resulting in delayed production, less efficiency, and our sales staff is unable to visit with hospital administrators who are our customers and potential customers. In addition, COVID-

has impacted the Company's capital and financial resources, including our overall liquidity position during

2020

and

may

impact us in the future. For instance, our accounts receivable has slowed while our suppliers continue to ask for pre-delivery deposits. We received a Paycheck Protection Program (“PPP”) Loan pursuant to the CARES Act which has helped fund some payroll costs in

2020.

During the

fourth

quarter of

2020,

we received forgiveness of the amounts outstanding from the PPP. If COVID-

continues to spread or the response to contain the virus is unsuccessful, we

may

continue to experience a material adverse effect on our business, financial condition, results of operations, cash flows and stock price.

Interim Financial Statements

The Company has prepared the condensed consolidated financial statements and related unaudited financial information in the footnotes in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the rules and regulations of the Securities and Exchange Commission (“SEC”) for interim condensed consolidated financial statements. These interim condensed consolidated financial statements reflect all adjustments consisting of normal recurring accruals, which in the opinion of management, are necessary to present fairly the Company's position, the results of its operations, and its cash flows for the interim periods. These interim condensed consolidated financial statements reflect all intercompany eliminations. These interim condensed consolidated financial statements should be read in conjunction with the annual consolidated financial statements and the notes thereto contained in the Annual Report on Form

-K filed with the SEC on

March 15, 2021.

The nature of the Company's business is such that the results of any interim period

may

not

be indicative of the results to be expected for the entire year.

Accounting Policies and Estimates

The preparation of condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and during the reporting period. Actual results could materially differ from those estimates.

Reclassifications

Certain reclassifications have been made to the prior years' condensed consolidated financial statements to conform to the current year presentation. The reclassifications had

effect on previously reported results of operations, cash flows or stockholders' equity.

Cash and cash equivalents

The Company considers all highly liquid instruments with maturities when purchased of

three

months or less to be cash equivalents. The Company places its cash with high quality financial institutions and believes its risk of loss is limited due to

amounts in excess of that which is insured by the Federal Deposit Insurance Corporation.

Receivables

Receivables are reported at the amount the Company expects to collect on balances outstanding. The Company provides for probable uncollectible amounts through charges to earnings and credits to the valuation allowance based on management's assessment of the status of individual accounts.

Amounts recorded in accounts receivable on the condensed consolidated balance sheet include amounts billed and currently due from customers. The amounts due are stated at their net estimated realizable value. An allowance for doubtful accounts is maintained to provide for the estimated amount of receivables that will

not

be collected. The Company reviews customers' credit history before extending unsecured credit and establishes an allowance for uncollectible accounts based upon factors surrounding the credit risk of specific customers, historical trends and other information. Invoices are generally due

days after presentation. Accounts receivable over

days is generally considered past due. The Company does

not

accrue interest on past due accounts receivables. Receivables are written off once all collection attempts have failed and are based on individual credit evaluation and specific circumstances of the customer. The allowance for doubtful accounts balance was

as of both

March 31, 2021

and

December 31, 2020.

Fair Value Measurements

As outlined in Accounting Standards Codification (“ASC”)

820,

Fair Value Measurement

, fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The accounting standards ASC

820

establishes a

three

-level fair value hierarchy that prioritizes information used in developing assumptions when pricing an asset or liability as follows:

Level

– Observable inputs such as quoted prices in active markets;

Level

– Inputs other than quoted prices in active markets, that are observable either directly or indirectly; and

Level

– Unobservable inputs where there is little or

market data, which requires the reporting entity to develop its own assumptions.

The Company uses observable market data, when available, in making fair value measurements. Fair value measurements are classified according to the lowest level input that is significant to the valuation.

The fair value of the Company's investment securities, which consist of cash and cash equivalents, was determined based on Level

inputs. The fair value of the Company's derivative liabilities and debt were determined based on Level

inputs. The Company generally uses the Black Scholes method for determining the fair value of warrants classified as liabilities on a recurring basis. In addition, the Company uses the Monte Carlo method and other acceptable valuation methodologies when valuing the conversion feature and other embedded features classified as derivatives on a recurring basis. See

Note

– Derivatives

Inventories

Inventories are stated at the lower of cost or net realizable value, with cost determined on a

first

-in,

first

-out basis.

Fixed Assets

Fixed assets are stated at cost less accumulated depreciation. Depreciation of fixed assets is computed using the straight-line method over the estimated useful lives of the respective assets. Estimated useful asset life by classification is as follows:

	Years
Computers, software and office equipment	3	-	10
Leasehold improvements (1)	2	-	5
Manufacturing tooling	3	-	7
Laboratory equipment	4	-	6
Demo equipment		3

(

)

Leasehold improvements are amortized over the shorter of the useful life or the remaining lease term.

Upon retirement or sale of fixed assets, the cost and related accumulated depreciation or amortization are removed from the balance sheet and the resulting gain or loss is reflected in operations. Maintenance and repairs are charged to operations expense as incurred.

Long-lived Assets

Finite-lived intangible assets consist of patents and trademarks, licensing fees, developed technology, and customer relationships, and are amortized over their estimated useful life. Accumulated amortization is included in intangibles, net in the accompanying condensed consolidated balance sheets.

The Company reviews finite-lived identifiable intangible assets for impairment in accordance with ASC

360,

Property, Plant and Equipment

, whenever events or changes in circumstances indicate the carrying amount

may

not

be recoverable. Events or changes in circumstances that indicate the carrying amount

may

not

be recoverable include, but are

not

limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which the Company operates.

The Company concluded there was

impairment of its intangible assets as of

December 31, 2020.

As a part of the Company's review of the tradename intangible asset associated with its Helomics reportable segment, the Company determined the asset is a finite-lived asset beginning

September 30, 2020.

The Company concluded there was

impairment of its finite-lived assets as of

December 31, 2020.

The Company prepared the undiscounted cash flows per ASC

360.

The Company concluded that the undiscounted cash flows of the long-lived assets exceeded the carrying values. As of

March 31, 2021,

there were

qualitative or quantitative factors indicating an impairment of its other intangible assets.

Goodwill

In accordance with ASC

350,

Intangibles – Goodwill and Other

, goodwill is calculated as the difference between the acquisition date fair value of the consideration transferred and the fair value of net assets acquired. Goodwill is an asset representing the future economic benefits arising from other assets acquired in a business combination. Goodwill is

not

amortized but is tested on an annual basis for impairment at the reporting unit level as of

December 31,

or whenever events or changes in circumstances indicate that the carrying amount

may

not

be fully recoverable.

To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. The Company

first

has the option to assess qualitative factors to determine if it is more likely than

not

that the carrying value of a reporting unit exceeds its estimated fair value. The Company

may

also elect to skip the qualitative testing and proceed directly to the quantitative testing. When performing quantitative testing, the Company

first

estimates the fair values of its reporting units using discounted cash flows. To determine fair values, the Company is required to make assumptions about a wide variety of internal and external factors. Significant assumptions used in the impairment analysis include financial projections of free cash flow (including significant assumptions about operations including the rate of future revenue growth, capital requirements, and income taxes), long-term growth rates for determining terminal value and discount rates. Comparative market multiples are used to corroborate the results of the discounted cash flow test. These assumptions require significant judgement. Pursuant to ASU

2017

04,

Simplifying the Test for Goodwill Impairment

, the single step is to determine the estimated fair value of the reporting unit and compare it to the carrying value of the reporting unit, including goodwill. To the extent the carrying amount of goodwill exceeds the implied goodwill, the difference is the amount of the goodwill impairment. The Company also completes a reconciliation between the implied equity valuation prepared and the Company's market capitalization. The majority of the inputs used in the discounted cash flow model are unobservable and thus are considered to be Level

inputs. The inputs for the market capitalization calculation are considered Level

inputs.

The Company recognized loss on impairment goodwill during the year ended

December 31, 2020

$12,876,498.

As of

March 31, 2021,

there were

qualitative or quantitative factors indicating it was more likely than

not

that the carrying value of a reporting unit exceeds its estimated fair value.

The Company will continue to monitor its reporting units to determine whether events and circumstances warrant further interim impairment testing. Impairment of goodwill is

not

expected to be deductible for tax purposes. The Company can make

assurances that its goodwill will

not

be impaired in the future.

Leases –

At inception of a contract, a determination is made whether an arrangement meets the definition of a lease. A contract contains a lease if there is an identified asset, and the Company has the right to control the asset. Operating leases are recorded as right-of-use (“ROU”) assets with corresponding current and noncurrent operating lease liabilities on our condensed consolidated balance sheets. Financing leases are included within fixed assets with corresponding current within other current liabilities and noncurrent within other long-term liabilities on our condensed consolidated balance sheets.

ROU assets represent our right to use an underlying asset for the duration of the lease term and lease liabilities represent our obligation to make lease payments arising from the lease. Recognition on the commencement date is based on the present value of lease payments over the lease term using an incremental borrowing rate. Leases with a term of

months or less at the commencement date are

not

recognized on the balance sheet and are expensed as incurred.

The Company has lease agreements with lease and non-lease components, which are accounted for as a single lease component for all asset classes. Leases are accounted for at a portfolio level when similar in nature with identical or nearly identical provisions and similar effective dates and lease terms.

Revenue Recognition

The Company recognizes revenue when it satisfies a performance obligation by transferring control of the promised goods or services to its customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. Sales taxes are imposed on the Company's sales to nonexempt customers. The Company collects the taxes from the customers and remits the entire amounts to the governmental authorities. Sales taxes are excluded from revenue and expenses.

Revenue from Product Sales

The Company has medical device revenue consisting primarily of sales of the STREAMWAY System, as well as sales of the proprietary cleaning fluid and filters for use with the STREAMWAY System. This revenue stream is reported within both the domestic and international revenue segments. The Company sells its medical device products directly to hospitals and other medical facilities using employed sales representatives and independent contractors. Purchase orders, which are governed by sales agreements in all cases, state the final terms for unit price, quantity, shipping, and payment terms. The unit price is considered the observable stand-alone selling price for the arrangements. The Company sales agreement, and Terms and Conditions, is a dually executed contract providing explicit criteria supporting the sale of the STREAMWAY System. The Company considers the combination of a purchase order and acceptance of its Terms and Conditions to be a customer's contract in all cases.

Product sales for medical devices consist of a single performance obligation that the Company satisfies at a point in time. The Company recognizes product revenue when the following events have occurred: (

) the Company has transferred physical possession of the products, (

) the Company has a present right to payment, (

) the customer has legal title to the products, and (

) the customer bears significant risks and rewards of ownership of the products. Based on the shipping terms specified in the sales agreements and purchase orders, these criteria are generally met when the products are shipped from the Company's facilities (“FOB origin,” which is the Company's standard shipping terms). As a result, the Company determined that the customer can direct the use of, and obtain substantially all of the benefits from, the products at the time the products are shipped. The Company

may,

at its discretion, negotiate different shipping terms with customers which

may

affect the timing of revenue recognition. The Company's standard payment terms for its customers are generally

days after the Company transfers control of the product to its customer. The Company allows returns of defective disposable merchandise if the customer requests a return merchandise authorization from the Company.

Customers

may

also purchase a maintenance plan for the medical devices from the Company, which requires the Company to service the STREAMWAY System for a period of

one

year after the

one

-year anniversary date of the original STREAMWAY System invoice. The maintenance plan is considered a separate performance obligation from the product sale, is charged separately from the product sale, and is recognized over time (ratably over the

one

-year period) as maintenance services are provided. A time-elapsed output method is used to measure progress because the Company transfers control evenly by providing a stand-ready service. The Company has determined that this method provides a faithful depiction of the transfer of services to its customers.

All amounts billed to a customer in a sales transaction for medical devices related to shipping and handling, if any, represent revenues earned for the goods provided, and these amounts have been included in revenue. Costs related to such shipping and handling billing are classified as cost of goods sold. This revenue stream is reported under the Skyline reportable segment.

Revenue from Clinical Testing

The Precision Oncology Insights are clinic diagnostic testing comprised of the Company's Tumor Drug Response Testing (formerly ChemoFx) and Genomic Profiling (formerly BioSpeciFx) tests. The Tumor Drug Response test determines how a patient's tumor specimen reacts to a panel of various chemotherapy drugs, while the Genomic Profiling test evaluates the expression of a particular gene related to a patient's tumor specimen. Revenues are recognized when control of the promised goods or services is transferred to customers, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. The estimated uncollectible amounts are generally considered implicit price concessions that are a reduction in revenue. Helomics payment terms vary by the agreements reached with insurance carriers and Medicare. The Company's performance obligations are satisfied at

one

point in time when test reports are delivered.

For service revenues, the Company estimates the transaction price which is the amount of consideration it expects to be entitled to receive in exchange for providing services based on its historical collection experience using a portfolio approach as a practical expedient to account for patient contracts as collective groups rather than individually. The Company monitors its estimates of transaction price to depict conditions that exist at each reporting date. If the Company subsequently determines that it will collect less consideration than it originally estimated for a contract with a patient, it will account for the change as a decrease to the estimate of the transaction price, provided that such downward adjustment does

not

result in a significant reversal of cumulative revenue recognized.

The Company recognizes revenue from these patients when contracts as defined in ASC

606,

Revenue from Contracts with Customers

are established at the amount of consideration to which it expects to be entitled or when the Company receives substantially all the consideration subsequent to the performance obligations being satisfied. The Company's standard payment terms for hospital and patient direct bill are

days after invoice date. This revenue stream is reported under the Helomics segment.

CRO Revenue

Contract revenues are generally derived from studies conducted with biopharmaceutical and pharmaceutical companies. The specific methodology for revenue recognition is determined on a case-by-case basis according to the facts and circumstances applicable to a given contract. The Company typically uses an input method that recognizes revenue based on the Company's efforts to satisfy the performance obligation relative to the total expected inputs to the satisfaction of that performance obligation. For contracts with multiple performance obligations, the Company allocates the contract's transaction price to each performance obligation on the basis of the standalone-selling price of each distinct good or service in the contract. Advance payments received in excess of revenues recognized are classified as deferred revenue until such time as the revenue recognition criteria have been met. Payment terms are net

from the invoice date, which is sent to the customer as the Company satisfies the performance obligation relative to the total expected inputs to the satisfaction of that performance obligation. This revenue stream is reported under the Helomics segment.

Variable Consideration

The Company records revenue from distributors and direct end customers in an amount that reflects the transaction price it expects to be entitled to after transferring control of those goods or services. The Company's current contracts do

not

contain any features that create variability in the amount or timing of revenue to be earned.

Warranty

The Company generally provides

one

-year warranties against defects in materials and workmanship on product sales and will either repair the products or provide replacements at

charge to customers. As they are considered assurance-type warranties, the Company does

not

account for them as separate performance obligations. Warranty reserve requirements are based on a specific assessment of the products sold with warranties where a customer asserts a claim for warranty or a product defect.

Contract Balances

The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied. Accounts receivable totaled

$264,928

and

$256,878

as of

March 31, 2021

and

December 31, 2020,

respectively.

The Company's deferred revenues related primarily to maintenance plans of

$154,195

and

$53,028

as of

March 31, 2021

and

December 31, 2020,

respectively.

Practical Expedients

The Company has elected the practical expedient

not

to determine whether contracts with customers contain significant financing components as well as the practical expedient to recognize shipping and handling costs at point of sale.

Valuation and accounting for stock options and warrants

The Company determines the grant date fair value of options and warrants using a Black-Scholes option valuation model based upon assumptions regarding risk-free interest rate, expected dividend rate, volatility, and estimated term.

The fair value of each option and warrant grant is estimated on the grant date using the Black-Scholes option valuation model with the following assumptions:

	For the three months ended March 31,
	2021			2020
	Stock Options
Expected dividend yield		0.0%			0.0%
Expected stock price volatility		84.8%			82.6%
Risk-free interest rate	0.93%	-	1.45%	0.70%	-	1.57%
Expected life (in years)		10			10
	Warrants
Expected dividend yield		0.0%			0.0%
Expected stock price volatility		84.8%			82.6%
Risk-free interest rate	0.42%	-	0.69%	0.54%	-	0.79%
Expected life (in years)	5	-	5 .5	2	-	5.5

Research and Development

Research and development costs are charged to operations as incurred. Research and development costs were

$93,629

and

$129,341

for the

three

months ended

March 31, 2021

and

2020,

respectively.

Other Expense

Other expense consisted primarily of interest expense, payment premium, amortization of original issue discounts, and loss on debt extinguishment associated to the Company's notes payable.

Offering Costs

Costs incurred which are direct and incremental to an offering of the Company's securities are deferred and charged against the proceeds of the offering unless such costs are deemed to be insignificant in which case they are expensed as incurred.

Income Taxes

The Company accounts for income taxes in accordance with ASC

740,

Income Taxes

(“ASC

740”

). Under ASC

740,

deferred tax assets and liabilities are determined based on the differences between the financial reporting and tax bases of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for the year in which the differences are expected to impact taxable income. Valuation allowances are established when necessary, to reduce deferred tax assets to the amounts expected to be realized.

There is

income tax provision in the accompanying condensed consolidated statements of net loss due to the cumulative operating losses that indicate a

100%

valuation allowance for the deferred tax assets and state income taxes is appropriate.

The Company reviews income tax positions expected to be taken in income tax returns to determine if there are any income tax uncertainties. The Company recognizes tax benefits from uncertain tax positions only if it is more likely than

not

that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified

income tax uncertainties.

Under Internal Revenue Code Section

382,

certain stock transactions which significantly change ownership could limit the amount of net operating carryforwards that

may

be utilized on an annual basis to offset taxable income in future periods. The Company has

not

yet performed an analysis of the annual net operating loss carryforwards and limitations that are available to be used against taxable income. Consequently, the limitation, if any, could result in the expiration of the Company's loss carryforwards before they can be utilized. The Company has

not

analyzed net operating loss carryforwards under Section

382

to date. As a result of the Helomics acquisition, there

may

be significant limitations to the net operating loss. In addition, the current NOL carryforwards might be further limited by future issuances of our common stock.

Tax years subsequent to

2017

remain open to examination by federal and state tax authorities.

Credit Risk

Financial instruments which potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents. The Company places its cash and cash equivalents with high credit quality financial institutions and, by policy, generally limits the amount of credit exposure to any

one

financial institution. The Company does

not

have credit risk due to cash and cash equivalents that are in excess of amounts insured by the Federal Deposit Insurance Corporation.

Risks and Uncertainties

The Company is subject to risks common to companies in the medical device and biopharmaceutical industries, including, but

not

limited to, development by the Company or its competitors of new technological innovations, dependence on key personnel, protection of proprietary technology, and compliance with regulations of the Food and Drug Administration, Clinical Laboratory Improvement Amendments, and other governmental agencies.

Recent Accounting Pronouncements

The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (the “FASB”). Recently issued ASUs

not

listed below either were assessed and determined to be

not

applicable or are currently expected to have

impact on the condensed consolidated financial statements of the Company.

June 2016,

the FASB issued ASU

2016

13,

“Financial Instruments – Credit Losses.” This ASU added a new impairment model (known as the current expected credit loss (“CECL”) model) that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes as an allowance its estimate of expected credit losses. The CECL model applies to most debt instruments, trade receivables, lease receivables, financial guarantee contracts, and other loan commitments. The CECL model does

not

have a minimum threshold for recognition of impairment losses and entities will need to measure expected credit losses on assets that have a low risk of loss. As a smaller reporting company pursuant to Rule

12b

of the Securities Exchange Act of

1934,

as amended, these changes become effective for the Company on

January 1, 2023.

Management is currently evaluating the potential impact of these changes on the condensed consolidated financial statements of the Company.

Recent Developments

March 19, 2021,

the Company appointed J. Melville Engle, age

71,

as its Chief Executive Officer, effective immediately. In addition to being named CEO, Mr. Engle will retain his role of Chairman of the Board. Mr. Engle joined POAI's Board of Directors in

October 2016

and was appointed Chairman of the Board in

January 2020.

Dr. Carl Schwartz retired through his resignation as the Chief Executive Officer of the Company effective on

March 19, 2021.

In connection with the resignation, Dr. Schwartz and the Company simultaneously entered into a Transition and Separation Agreement pursuant to which, among other things, Dr. Schwartz agreed to retire from his employment and resign as a member of the board of directors and to provide certain transition services to the Company in exchange for the issuance to Dr. Schwartz of

100,000

shares of the Company's common stock on

April 1, 2021.

In addition, the Company agreed to provide Dr. Schwartz with certain separation benefits and the vesting of restricted stock units previously granted to Dr. Schwartz.

Effective

April 21, 2021,

the Board of Directors (“Board”) the Company elected Dr. Christina Jenkins, M.D., to the Board, as well as to the Board's Merger & Acquisition Committee. She was chosen to fill the vacancy created by the retirement of Dr. Carl I. Schwartz. As a Class III Director, Dr. Jenkins' term will expire at the

2021

annual meeting of the Company's stockholders. In recognition of the services Dr. Jenkins will provide to the Company as a member of the Board, she was issued

5,000

shares of common stock from the Company's Amended and Restated

2012

Stock Incentive Plan simultaneously with her election.

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 and in

Note

– Subsequent Events

Note 2 - Inventories

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Text Block]

NOTE

– INVENTORIES

Inventory balances are as follows:

	As of March 31, 2021		As of December 31, 2020

Finished goods	$	96,171	$	95,898
Raw materials		141,413		151,366
Work-In-Process		55,240		42,271
Total	$	292,824	$	289,535

Note 3 - Fixed Assets

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment Disclosure [Text Block]

NOTE

– FIXED ASSETS

The Company's fixed assets consist of the following:

	As of March 31, 2021			As of December 31, 2020
Computers, software, and office equipment	$	3,662,822		$	3,638,520
Leasehold improvements		315,296			315,297
Laboratory equipment		1,402,543			1,035,160
Manufacturing tooling		108,956			108,956
Demo equipment		56,614			56,614
Total		5,546,231			5,154,547
Less: Accumulated depreciation		(1,570,778	)		(1,331,847	)
Total Fixed Assets, Net	$	3,975,453		$	3,822,700

Depreciation expense was

$238,932

and

$130,075

during the

three

months ended

March 31, 2021

and

2020,

respectively.

Note 4 - Intangible Assets

3 Months Ended

Mar. 31, 2021

Intangible Assets Disclosure [Text Block]

NOTE

– INTANGIBLE ASSETS

The components of intangible assets were as follows:

	As of March 31, 2021							As of December 31, 2020

		Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount		Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount
Patents & Trademarks	$	402,857	$	(215,597	)	$	187,260	$	401,421	$	(211,110	)	$	190,311
Developed Technology		2,882,000		(288,199	)		2,593,801		2,882,000		(252,175	)		2,629,825
Customer Relationships		445,000		(296,667	)		148,333		445,000		(259,583	)		185,417
Tradename		398,000		(10,905	)		387,095		398,000		(5,452	)		392,548
Total	$	4,127,857	$	(811,368	)	$	3,316,489	$	4,126,421	$	(728,320	)	$	3,398,101

Amortization expense was

$83,048

and

$76,505

during the

three

months ended

March 31, 2021

and

2020,

respectively.

The following table outlines the estimated future amortization expense related to intangible assets held as of

March 31, 2021:

Year ending December 31,	Expense
2021	$	249,182
2022		220,993
2023		183,910
2024		183,910
2025		183,910
Thereafter		2,294,584
Total	$	3,316,489

Note 5 - Notes Payable

3 Months Ended

Mar. 31, 2021

Debt Disclosure [Text Block]

NOTE

– NOTES PAYABLE

The balances of notes payable were as follows:

	Due Date	As of March 31, 2021		As of December 31, 2020
Promissory note 2019	March 31, 2021	$	-	$	1,490,833
Promissory note 2020	March 31, 2021		-		1,464,146
2018 Investor Loan	March 31, 2021		-		1,721,776
Total Notes Payable, gross			-		4,676,755
Less: Unamortized discount			-		(244,830	)
Total Notes Payable, net		$	-	$	4,431,925

Promissory Note Conversions

Each investor received the right to convert all or any part of its

2018

Investor loan into shares of the Company's common stock at a conversion factor that is the lesser of a discounted price. The number of conversion shares that

may

be issued was limited. As of

March 31, 2020,

the maximum number of conversion shares had been issued,

additional shares were available to be issued related to this conversion option. During the

first

three

months of

2020,

the investors converted

$267,328

of the principal balance and received

170,000

shares of the Company's common stock.

Also, the investor in the

2019

and

2020

promissory notes converted

$514,011

of the principal balance and received

1,107,544

shares of the Company's common stock during the

first

quarter of

2021

through

February 15, 2021.

Promissory Note Repayment

March 1, 2021,

the Company used

$5,906,802

of the proceeds of the private placement on

February 23, 2021,

to repay in full the outstanding principal and interest and applicable premium amounts under the

2018

Investor Loan, the

2019

Promissory Note and the

2020

Promissory Note.

Note 6 - Stockholders' Equity, Stock Options and Warrants

3 Months Ended

Mar. 31, 2021

Stockholders' Equity Note Disclosure [Text Block]

NOTE

– STOCKHOLDERS' EQUITY, STOCK OPTIONS AND WARRANTS

Equity Line

October 24, 2019,

the Company entered into an equity purchase agreement with an investor, providing for an equity financing facility. Upon the terms and subject to the conditions in the purchase agreement, the investor is committed to purchase shares having an aggregate value of up to

$15,000,000

of the Company's common stock for a period of up to

three

years. The Company issued to the investor

104,651

commitment shares at a fair market value of

$450,000

for entering into the agreement. From time to time during the

three

-year commitment period, provided that the closing conditions are satisfied, the Company

may

provide the investor with put notices to purchase a specified number of shares subject to certain limitations and conditions and at specified prices, which generally represent discounts to the market price of the common stock. As of

March 31, 2021,

there was

$9,789,419

of remaining available balance under the equity line, subject to market conditions including trading volume and stock price, and subject to other limitations. See

Note

– Subsequent Events.

2021

Offerings

January

and

February 2021,

the Company completed a series of

five

offerings, all of which were priced at-the-market under applicable NASDAQ rules. The

first

four

offerings were registered direct offerings of common stock under its shelf registration statement, and in each such case, in a concurrent private placement, the Company also issued such investors

one

warrant to purchase common stock for each

two

shares purchased in the transaction. Following those

four

offerings, the Company completed a private placement of common stock, with each investor receiving

one

warrant to purchase common stock for each

two

shares purchased in the transaction. In each case, each such investor warrant is exercisable immediately upon issuance and will expire

five

and

one

-half years from the issue date. In each case, the Company paid to the placement agent an aggregate fee equal to

7.5%

of the aggregate gross proceeds received by the Company in the offering and a management fee equal to

of the aggregate gross proceeds received by the Company in the offering and reimbursed the placement agent for certain non-accountable and out-of-pocket expenses. In addition, the Company granted to the placement agent or its assigns warrants to purchase

7.5%

of the shares sold to investors in the offering at an exercise price equal to

125%

of the price of the shares in the transaction, with a term of

five

years for the registered direct offerings or

five

and

one

-half years for the private placement. These offerings were as follows:

Offering Closing Date	Shares	Sale Price per Share*	Investor Warrants	Exercise Price per Share – Investor Warrants	Placement Agent Warrants	Exercise Price per Share – Placement Agent Warrants	Gross Proceeds of Offering	Net Proceeds of Offering
January 12, 2021 (registered direct)	3,650,840	$0.842	1,825,420	$0.80	273,813	$1.0525	$3,074,007	$2,731,766
January 21, 2021 (registered direct)	2,200,000	$1.00	1,100,000	$1.00	165,000	$1.25	$2,200,000	$1,932,050
January 26, 2021 (registered direct)	3,414,970	$1.20	1,707,485	$1.37	256,123	$1.50	$4,097,964	$3,668,687
February 16, 2021 (registered direct)	4,222,288	$1.75	2,111,144	$2.00	316,672	$2.1875	$7,389,004	$6,679,989
February 23, 2021 (private placement)	9,043,766	$1.95	4,521,883	$2.00	678,282	$2.4375	$17,635,344	$16,064,739
Total	22,531,864		11,265,932		1,689,890		$34,396,319	$31,077,231

Sale price includes

one

share and a warrant to purchase

one

-half share.

2021

Warrant Exercises

During the period

January 1, 2021

through

March 31, 2021,

the holders of outstanding investor warrants have exercised such warrants for the total purchase of

5,247,059

shares at a weighted average exercise price of

$0.86

per share, for total proceeds of

$4,495,270.

Equity Incentive Plan

The Company has an equity incentive plan, which allows issuance of incentive and non-qualified stock options to employees, directors, and consultants of the Company, where permitted under the plan. The exercise price for each stock option is determined by the Board of Directors. Vesting requirements are determined by the Board of Directors when granted and currently range from immediate to

three

years. Options under this plan have terms ranging from

three

ten

years.

The following summarizes transactions for stock options and warrants for the periods indicated:

	Stock Options					Warrants
	Number of Shares			Average Exercise Price		Number of Shares			Average Exercise Price
Outstanding at December 31, 2019		766,424		$	11.34		2,171,610		$	15.26

Issued		319,851			1.03		8,097,468			1.547
Forfeited		(72,728	)		10.58		(128,710	)		95.11
Exercised		-			-		(2,786,992	)		0.79

Outstanding at December 31, 2020		1,013,547		$	5.41		7,353,376		$	3.76

Issued		10,680			0.69		12,955,822			1.65
Forfeited		(18,078	)		9.89		-			-
Exercised		-			-		(5,247,059	)		0.86

Outstanding at March 31, 2021		1,006,149		$	5.25		15,062,139		$	2.96

Stock-based compensation expense recognized for

three

months ended

March 31, 2021

and

March 31, 2020

was

$565,082

and

$287,838,

respectively. During the

three

months ended

March,

$403,721

of expense related to the modification of the restricted share agreement and acceleration of vesting in connection with the CEO's retirement. The Company has

$7,357

of unrecognized compensation expense related to non-vested stock options that are expected to be recognized over the next

months.

Note 7 - Derivatives

3 Months Ended

Mar. 31, 2021

Derivative Instruments and Hedging Activities Disclosure [Text Block]

NOTE

– DERIVATIVES

Certain warrants issued to placement agents were determined to be a derivative liability due to certain features of the warrants which could, in certain circumstances, result in the holder receiving the Black Scholes value of the outstanding warrants in the same type of consideration as the common stockholders. As a result, in those circumstances, the amount of consideration would differ from that provided to holders of common stock, therefore, the warrants were classified as a liability.

The fair value of the agent warrants issued in connection with the

March 2020

Private Placement was determined to be

$33,654

as of

December 31, 2020.

The Company recorded a loss on the change in fair value of the placement agent warrants of

$32,507

during the

three

months ended

March 31, 2021.

As of

March 31, 2021,

the fair value of the placement agent warrants was

$66,161.

The fair value of the agent warrants issued in connection with the

May 2020

were determined to be

$33,819

and

$65,139

as of

December 31, 2020

and

March 31, 2021,

respectively. The Company recorded a loss on the change in fair value of the agent warrants of

$31,320

during the

three

months ended

March 31, 2021.

The placement agent warrants issued in connection with the

June 2020

warrant exercise and issuance had a fair value of

$32,701

and

$67,411

as of

December 31, 2020

and

March 31, 2021,

respectively. The Company recorded a loss on the change in fair value of the agent warrants of

$34,710

during the

three

months ended

March 31, 2021.

The Company concluded the Promissory Note

2020

contained a conversion feature and a put each of which is an embedded derivative and are required to be bifurcated. In accordance with ASC

815,

Derivatives and Hedging

, the Company combined these

two

embedded derivatives into a single derivative and determined the fair value to record within the derivative liability on the condensed consolidated balance sheet. As of

December 31, 2020,

the fair value of the derivative liability was

$104,529.

As a result of the repayment of the note as of

March 1, 2021,

the embedded derivative had a fair value of

zero

prior to the repayment. The Company recorded a gain on the fair value of the derivative of

$104,529

during the

three

months ended

March 31, 2021.

September 30, 2020,

the Promissory Note

2019

was amended. Management concluded the Promissory Note

2019

contained a conversion feature which is an embedded derivative and was required to be bifurcated. In accordance with ASC

815,

Derivatives and Hedging, the Company determined the fair value to record within the derivative liability on the condensed consolidated balance sheet. As of

December 31, 2020,

the fair value of the derivative was

$89,680.

As a result of the repayment of the note as of

March 1, 2021,

the embedded derivative had a fair value of

zero

prior to the repayment. The Company recorded a gain on the fair value of the derivative of

$89,680

during the

three

months ended

March 31, 2021.

The table below discloses changes in value of the Company's embedded derivative liabilities discussed above.

Derivative liability balance at December 31, 2019	$	50,989
Derivative instrument recognized for A, B and Agent Warrants		2,669,995
Derivative instrument related to Promissory Note 2020		120,921
Gain recognized to revalue derivative instrument at fair value		(27,107	)
Derivative liability balance at March 30, 2020	$	2,814,798

Derivative liability balance at December 31, 2020	$	294,382
Gain recognized to revalue derivative instrument at fair value		(95,671	)
Derivative liability balance at March 31, 2021	$	198,711

Note 8 - Loss Per Share

3 Months Ended

Mar. 31, 2021

Earnings Per Share [Text Block]

NOTE

- LOSS PER SHARE

The following table presents the shares used in the basic and diluted loss per common share computations:

	Three Months Ended March 31,
	2021			2020
Numerator:
Net loss attributable to common shareholders per common share: basic and diluted calculation	$	(3,888,713	)	$	(4,529,317	)

Denominator:
Weighted average common shares outstanding-basic		36,513,300			4,886,328
Effect of diluted stock options, warrants, and preferred stock (1)		-			-
Weighted average common shares outstanding - diluted		36,513,300			4,886,328
Loss per common share-basic and diluted	$	(0.11	)	$	(0.93	)

(

)

The following is a summary of the number of underlying shares outstanding at the end of the respective periods that have been excluded from the diluted calculations because the effect on loss per common share would have been anti-dilutive:

	Three Months ended March 31,
	2021		2020
Options		1,006,419		794,038
Warrants		15,062,139		5,663,594
Convertible debt		-		378,000
Preferred stock: series B		7,925		7,925
Preferred stock: series D		-		350,000
Preferred stock: series E		-		691,159

Note 9 - Segments

3 Months Ended

Mar. 31, 2021

Segment Reporting Disclosure [Text Block]

NOTE

– SEGMENTS

The Company has determined its operating segments in accordance with ASC

280

–

Segment Reporting

. Factors used to determine the Company's reportable segments include the availability of separate financial statements, the existence of locally based leadership across geographic regions, the economic factors affecting each segment, and the evaluation of operating results at the segment level. The Chief Operating Decision Maker (“CODM”) allocates the Company's resources for each of the operating segments and evaluates their relative performance. Each operating segment listed below has separate financial statements and locally based leadership that are evaluated based on the results of their respective segments. It should be noted that the operating segments below have different products and services. The financial information is condensed consolidated and evaluated regularly by the CODM in assessing performance and allocating resources.

The Company has

three

operating segments: Skyline, Helomics and Soluble. See discussion of revenue recognition in

Note

– Summary of Significant Accounting Policies

for a description of the products and services recognized in each segment. The segment revenues and segment net losses for the

three

months ended

March 31, 2021

are included in the table below. All revenues are earned from external customers.

Revenue

	Three Months Ended March 31,
	2021		2020
Skyline	$	264,253	$	279,813
Helomics		1,989		15,130
Soluble		14,075		-
Corporate		-		-
Total	$	280,317	$	294,943

Segment Gain (Loss)

	Three Months Ended March 31,
	2021			2020
Skyline	$	(142,558	)	$	(409,844	)
Helomics		(1,227,676	)		(1,412,465	)
Soluble		(249,529	)		-
Corporate		(2,268,950	)		(2,707,008	)
Total	$	(3,888,713	)	$	(4,529,317	)

Assets

	As of March 31,		As of December 31,
	2021		2020
Skyline	$	872,761	$	1,191,439
Helomics		6,872,046		9,773,902
Soluble		1,849,905		1,883,585
Corporate		30,059,132		211,510
Total	$	39,653,844	$	13,060,436

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Basis of Accounting, Policy [Policy Text Block]

Note 10 - Related Party Transactions	3 Months Ended
Note 10 - Related Party Transactions	Mar. 31, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	NOTE 10 – RELATED PARTY TRANSACTIONS The Audit Committee has the responsibility to review and approve all transactions to which a related party and the Company may be a party prior to their implementation, to assess whether such transactions meet applicable legal requirements. One of the Company's former directors, Richard L. Gabriel, is the Chief Operating Officer and serves as a director of GLG Pharma (“GLG”). The Company and GLG have a partnership agreement for the purpose of bringing together their proprietary technologies to build out personalized medicine platform for the diagnosis and treatment of women's cancer. There has been no revenue or expenses generated by this partnership to date. Richard L. Gabriel is also contracted as the Chief Operating Officer for TumorGenesis. Through April 1, 2019, Mr. Gabriel received $12,000 per month pursuant to a renewable six -month contract. On May 1, 2019, Mr. Gabriel executed a one -year contract with renewable three -month periods to continue as the Chief Operating Officer for TumorGenesis, receiving $13,500 in monthly cash payments.

Note 11 - Subsequent Events	3 Months Ended
Note 11 - Subsequent Events	Mar. 31, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 11 – SUBSEQUENT EVENTS Equity Line Agreement Between April 1, 2021 and April 14, 2021, the Company issued 572,504 shares of its common stock valued at $588,590 pursuant to the equity line. Resignation of Director Effective May 1, 2021, Richard Gabriel resigned as a member of the Company's Board of Directors. Mr. Gabriel's resignation is in connection with his assuming a management position with the Company, and not due to any disagreements with the Company on any of our operations, policies or practices.

Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2021

Accounting Policies [Abstract]

Nature of Operations and Continuance of Operations

Predictive Oncology Inc. (the “Company”) was originally incorporated on

April 23, 2002

in Minnesota as BioDrain Medical, Inc. Effective

August 6, 2013,

the Company changed its name to Skyline Medical Inc. Pursuant to an Agreement and Plan of Merger effective

December 16, 2013,

the Company merged with and into a Delaware corporation with the same name that was its wholly owned subsidiary, with such Delaware corporation as the surviving corporation of the merger. On

August 31, 2015,

the Company completed a successful offering and concurrent uplisting to the NASDAQ Capital Market. On

February 1, 2018,

February 1, 2018.

Because of this change, the Company's common stock traded under the ticker symbol “AIPT,” effective

February 2, 2018.

June 10, 2019,

June 13, 2019.

Skyline Medical (“Skyline”) remains as an incorporated division of Predictive Oncology Inc.

The Company is a healthcare company that provides personalized medicine solutions and medical devices in

two

main areas: (

During the

first

quarter of

2018,

the Company acquired

25%

of the capital stock of Helomics Holding Corporation (“Helomics”). On

April 4, 2019,

the Company completed a forward triangular merger with Helomics Acquisition Inc., a wholly owned subsidiary of the Company and Helomics, acquiring the remaining

75%

of the capital stock of Helomics.

The Company had cash and cash equivalents of

$27,299,407

as of

March 31, 2021.

As of

March 31, 2021,

there was

outstanding debt. In

October 2019,

the Company entered into a purchase agreement for an equity line under which it can raise up to

$15,000,000

over a

three

-year period, subject to market conditions including trading volume and stock price. As of

March 31, 2021,

there was

$9,789,419

remaining in available balance under the equity line. Additional needs to access this line will be dilutive.

January

and

February 2021,

the Company received aggregate net proceeds of

$31,077,232

in a series of registered direct offerings and a private placement of equity securities. On

March 1, 2021,

the Company used

$5,906,802

of the net proceeds from the private placement to pay the remaining principal and interest on the loans originally issued in

September 2018,

September 2019,

and

February 2020

and to pay premium due upon such repayment. The remaining net proceeds of the

2021

transactions have been or will be used for working capital.

The Company believes that its existing capital resources will be sufficient to support its operating plan at least through

June 30, 2022.

However, the Company

may

twelve

months and beyond, and expects such sources to be sufficient to fund its requirements over that time.

Effect of Covid-19 Pandemic [Policy Text Block]

Coronavirus Outbreak

March 2020,

the World Health Organization declared the recent spread of COVID-

not

currently possible to estimate the duration and severity of the COVID-

has impacted the Company's capital and financial resources, including our overall liquidity position during

2020

and

may

2020.

During the

fourth

quarter of

2020,

we received forgiveness of the amounts outstanding from the PPP. If COVID-

continues to spread or the response to contain the virus is unsuccessful, we

may

continue to experience a material adverse effect on our business, financial condition, results of operations, cash flows and stock price.

Reclassification, Comparability Adjustment [Policy Text Block]

Reclassifications

Certain reclassifications have been made to the prior years' condensed consolidated financial statements to conform to the current year presentation. The reclassifications had

effect on previously reported results of operations, cash flows or stockholders' equity.

Cash and Cash Equivalents, Policy [Policy Text Block]

Cash and cash equivalents

The Company considers all highly liquid instruments with maturities when purchased of

three

months or less to be cash equivalents. The Company places its cash with high quality financial institutions and believes its risk of loss is limited due to

amounts in excess of that which is insured by the Federal Deposit Insurance Corporation.

Receivable [Policy Text Block]

Receivables

not

days after presentation. Accounts receivable over

days is generally considered past due. The Company does

not

as of both

March 31, 2021

and

December 31, 2020.

Fair Value Measurement, Policy [Policy Text Block]

Fair Value Measurements

As outlined in Accounting Standards Codification (“ASC”)

820,

Fair Value Measurement

820

establishes a

three

-level fair value hierarchy that prioritizes information used in developing assumptions when pricing an asset or liability as follows:

Level

– Observable inputs such as quoted prices in active markets;

Level

– Inputs other than quoted prices in active markets, that are observable either directly or indirectly; and

Level

– Unobservable inputs where there is little or

market data, which requires the reporting entity to develop its own assumptions.

The fair value of the Company's investment securities, which consist of cash and cash equivalents, was determined based on Level

inputs. The fair value of the Company's derivative liabilities and debt were determined based on Level

Note

– Derivatives

Inventory, Policy [Policy Text Block]

Inventories

Inventories are stated at the lower of cost or net realizable value, with cost determined on a

first

-in,

first

-out basis.

Property, Plant and Equipment, Policy [Policy Text Block]

Fixed Assets

	Years
Computers, software and office equipment	3	-	10
Leasehold improvements (1)	2	-	5
Manufacturing tooling	3	-	7
Laboratory equipment	4	-	6
Demo equipment		3

(

)

Leasehold improvements are amortized over the shorter of the useful life or the remaining lease term.

Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]

Long-lived Assets

The Company reviews finite-lived identifiable intangible assets for impairment in accordance with ASC

360,

Property, Plant and Equipment

, whenever events or changes in circumstances indicate the carrying amount

may

not

be recoverable. Events or changes in circumstances that indicate the carrying amount

may

not

be recoverable include, but are

not

limited to, a significant change in the medical device marketplace and a significant adverse change in the business climate in which the Company operates.

The Company concluded there was

impairment of its intangible assets as of

December 31, 2020.

As a part of the Company's review of the tradename intangible asset associated with its Helomics reportable segment, the Company determined the asset is a finite-lived asset beginning

September 30, 2020.

The Company concluded there was

impairment of its finite-lived assets as of

December 31, 2020.

The Company prepared the undiscounted cash flows per ASC

360.

The Company concluded that the undiscounted cash flows of the long-lived assets exceeded the carrying values. As of

March 31, 2021,

there were

qualitative or quantitative factors indicating an impairment of its other intangible assets.

Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]

Goodwill

In accordance with ASC

350,

Intangibles – Goodwill and Other

not

amortized but is tested on an annual basis for impairment at the reporting unit level as of

December 31,

or whenever events or changes in circumstances indicate that the carrying amount

may

not

be fully recoverable.

To determine whether goodwill is impaired, annually or more frequently if needed, the Company performs a multi-step impairment test. The Company

first

has the option to assess qualitative factors to determine if it is more likely than

not

that the carrying value of a reporting unit exceeds its estimated fair value. The Company

may

also elect to skip the qualitative testing and proceed directly to the quantitative testing. When performing quantitative testing, the Company

first

2017

04,

Simplifying the Test for Goodwill Impairment

inputs. The inputs for the market capitalization calculation are considered Level

inputs.

The Company recognized loss on impairment goodwill during the year ended

December 31, 2020

$12,876,498.

As of

March 31, 2021,

there were

qualitative or quantitative factors indicating it was more likely than

not

that the carrying value of a reporting unit exceeds its estimated fair value.

The Company will continue to monitor its reporting units to determine whether events and circumstances warrant further interim impairment testing. Impairment of goodwill is

not

expected to be deductible for tax purposes. The Company can make

assurances that its goodwill will

not

be impaired in the future.

Lessee, Leases [Policy Text Block]

Leases –

At inception of a contract a determination is made whether an arrangement meets the definition of a lease. A contract contains a lease if there is an identified asset, and the Company has the right to control the asset. Operating leases are recorded as right-of-use (“ROU”) assets with corresponding current and noncurrent operating lease liabilities on our condensed consolidated balance sheets. Financing leases are included within fixed assets with corresponding current within other current liabilities and noncurrent within other long-term liabilities on our condensed consolidated balance sheets.

months or less at the commencement date are

not

recognized on the balance sheet and are expensed as incurred.

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition

Revenue from Product Sales

) the Company has transferred physical possession of the products, (

) the Company has a present right to payment, (

) the customer has legal title to the products, and (

may,

at its discretion, negotiate different shipping terms with customers which

may

affect the timing of revenue recognition. The Company's standard payment terms for its customers are generally

Customers

may

also purchase a maintenance plan for the medical devices from the Company, which requires the Company to service the STREAMWAY System for a period of

one

year after the

one

Revenue from Clinical Testing

one

point in time when test reports are delivered.

not

result in a significant reversal of cumulative revenue recognized.

The Company recognizes revenue from these patients when contracts as defined in ASC

606,

Revenue from Contracts with Customers

days after invoice date. This revenue stream is reported under the Helomics segment.

CRO Revenue

Variable Consideration

not

contain any features that create variability in the amount or timing of revenue to be earned.

Warranty

The Company generally provides

one

-year warranties against defects in materials and workmanship on product sales and will either repair the products or provide replacements at

charge to customers. As they are considered assurance-type warranties, the Company does

not

Contract Balances

The Company records a receivable when it has an unconditional right to receive consideration after the performance obligations are satisfied. Accounts receivable totaled

$264,928

and

$256,878

as of

March 31, 2021

and

December 31, 2020,

respectively.

The Company's deferred revenues related primarily to maintenance plans of

$154,195

and

$53,028

as of

March 31, 2021

and

December 31, 2020,

respectively.

Practical Expedients

The Company has elected the practical expedient

not

to determine whether contracts with customers contain significant financing components as well as the practical expedient to recognize shipping and handling costs at point of sale.

Valuation and Accounting for Stock Options and Warrants, Policy [Policy Text Block]

Valuation and accounting for stock options and warrants

The fair value of each option and warrant grant is estimated on the grant date using the Black-Scholes option valuation model with the following assumptions:

	For the three months ended March 31,
	2021			2020
	Stock Options
Expected dividend yield		0.0%			0.0%
Expected stock price volatility		84.8%			82.6%
Risk-free interest rate	0.93%	-	1.45%	0.70%	-	1.57%
Expected life (in years)		10			10
	Warrants
Expected dividend yield		0.0%			0.0%
Expected stock price volatility		84.8%			82.6%
Risk-free interest rate	0.42%	-	0.69%	0.54%	-	0.79%
Expected life (in years)	5	-	5 .5	2	-	5.5

Research and Development Expense, Policy [Policy Text Block]

Research and Development

Research and development costs are charged to operations as incurred. Research and development costs were

$93,629

and

$129,341

for the

three

months ended

March 31, 2021

and

2020,

respectively.

Other Expense Policy [Policy Text Block]

Other Expense

Other expense consisted primarily of interest expense, payment premium, amortization of original issue discounts, and loss on debt extinguishment associated to the Company's notes payable.

Offering Costs [Policy Text Block]

Offering Costs

Income Tax, Policy [Policy Text Block]

Income Taxes

The Company accounts for income taxes in accordance with ASC

740,

Income Taxes

(“ASC

740”

). Under ASC

740,

There is

income tax provision in the accompanying condensed consolidated statements of net loss due to the cumulative operating losses that indicate a

100%

valuation allowance for the deferred tax assets and state income taxes is appropriate.

not

that the tax positions will be sustained on examination by taxing authorities, based on technical merits of the positions. The Company has identified

income tax uncertainties.

Under Internal Revenue Code Section

382,

certain stock transactions which significantly change ownership could limit the amount of net operating carryforwards that

may

be utilized on an annual basis to offset taxable income in future periods. The Company has

not

analyzed net operating loss carryforwards under Section

382

to date. As a result of the Helomics acquisition, there

may

be significant limitations to the net operating loss. In addition, the current NOL carryforwards might be further limited by future issuances of our common stock.

Tax years subsequent to

2017

remain open to examination by federal and state tax authorities.

Concentration Risk, Credit Risk, Policy [Policy Text Block]

Credit Risk

one

financial institution. The Company does

not

have credit risk due to cash and cash equivalents that are in excess of amounts insured by the Federal Deposit Insurance Corporation.

Risks and Uncertainties Policy [Policy Text Block]

Risks and Uncertainties

The Company is subject to risks common to companies in the medical device and biopharmaceutical industries, including, but

not

New Accounting Pronouncements, Policy [Policy Text Block]

Recent Accounting Pronouncements

The Company considers the applicability and impact of all Accounting Standards Updates (“ASUs”) issued by the Financial Accounting Standards Board (the “FASB”). Recently issued ASUs

not

listed below either were assessed and determined to be

not

applicable or are currently expected to have

impact on the condensed consolidated financial statements of the Company.

June 2016,

the FASB issued ASU

2016

13,

not

12b

of the Securities Exchange Act of

1934,

as amended, these changes become effective for the Company on

January 1, 2023.

Management is currently evaluating the potential impact of these changes on the condensed consolidated financial statements of the Company.

Note 1 - Summary of Significant Accounting Policies (Tables)

3 Months Ended

Mar. 31, 2021

Property Plant and Equipment Useful Life [Table Text Block]

	Years
Computers, software and office equipment	3	-	10
Leasehold improvements (1)	2	-	5
Manufacturing tooling	3	-	7
Laboratory equipment	4	-	6
Demo equipment		3

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	For the three months ended March 31,
	2021			2020
	Stock Options
Expected dividend yield		0.0%			0.0%
Expected stock price volatility		84.8%			82.6%
Risk-free interest rate	0.93%	-	1.45%	0.70%	-	1.57%
Expected life (in years)		10			10
	Warrants
Expected dividend yield		0.0%			0.0%
Expected stock price volatility		84.8%			82.6%
Risk-free interest rate	0.42%	-	0.69%	0.54%	-	0.79%
Expected life (in years)	5	-	5 .5	2	-	5.5

Note 2 - Inventories (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Inventory, Current [Table Text Block]

	As of March 31, 2021		As of December 31, 2020

Finished goods	$	96,171	$	95,898
Raw materials		141,413		151,366
Work-In-Process		55,240		42,271
Total	$	292,824	$	289,535

Note 3 - Fixed Assets (Tables)

3 Months Ended

Mar. 31, 2021

Property, Plant and Equipment [Table Text Block]

	As of March 31, 2021			As of December 31, 2020
Computers, software, and office equipment	$	3,662,822		$	3,638,520
Leasehold improvements		315,296			315,297
Laboratory equipment		1,402,543			1,035,160
Manufacturing tooling		108,956			108,956
Demo equipment		56,614			56,614
Total		5,546,231			5,154,547
Less: Accumulated depreciation		(1,570,778	)		(1,331,847	)
Total Fixed Assets, Net	$	3,975,453		$	3,822,700

Note 4 - Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	As of March 31, 2021							As of December 31, 2020

		Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount		Gross Carrying Costs		Accumulated Amortization			Net Carrying Amount
Patents & Trademarks	$	402,857	$	(215,597	)	$	187,260	$	401,421	$	(211,110	)	$	190,311
Developed Technology		2,882,000		(288,199	)		2,593,801		2,882,000		(252,175	)		2,629,825
Customer Relationships		445,000		(296,667	)		148,333		445,000		(259,583	)		185,417
Tradename		398,000		(10,905	)		387,095		398,000		(5,452	)		392,548
Total	$	4,127,857	$	(811,368	)	$	3,316,489	$	4,126,421	$	(728,320	)	$	3,398,101

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

Year ending December 31,	Expense
2021	$	249,182
2022		220,993
2023		183,910
2024		183,910
2025		183,910
Thereafter		2,294,584
Total	$	3,316,489

Note 5 - Notes Payable (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Short-term Debt [Table Text Block]

	Due Date	As of March 31, 2021		As of December 31, 2020
Promissory note 2019	March 31, 2021	$	-	$	1,490,833
Promissory note 2020	March 31, 2021		-		1,464,146
2018 Investor Loan	March 31, 2021		-		1,721,776
Total Notes Payable, gross			-		4,676,755
Less: Unamortized discount			-		(244,830	)
Total Notes Payable, net		$	-	$	4,431,925

Note 6 - Stockholders' Equity, Stock Options and Warrants (Tables)

3 Months Ended

Mar. 31, 2021

Sales of Stock [Table Text Block]

Offering Closing Date	Shares	Sale Price per Share*	Investor Warrants	Exercise Price per Share – Investor Warrants	Placement Agent Warrants	Exercise Price per Share – Placement Agent Warrants	Gross Proceeds of Offering	Net Proceeds of Offering
January 12, 2021 (registered direct)	3,650,840	$0.842	1,825,420	$0.80	273,813	$1.0525	$3,074,007	$2,731,766
January 21, 2021 (registered direct)	2,200,000	$1.00	1,100,000	$1.00	165,000	$1.25	$2,200,000	$1,932,050
January 26, 2021 (registered direct)	3,414,970	$1.20	1,707,485	$1.37	256,123	$1.50	$4,097,964	$3,668,687
February 16, 2021 (registered direct)	4,222,288	$1.75	2,111,144	$2.00	316,672	$2.1875	$7,389,004	$6,679,989
February 23, 2021 (private placement)	9,043,766	$1.95	4,521,883	$2.00	678,282	$2.4375	$17,635,344	$16,064,739
Total	22,531,864		11,265,932		1,689,890		$34,396,319	$31,077,231

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

	Stock Options					Warrants
	Number of Shares			Average Exercise Price		Number of Shares			Average Exercise Price
Outstanding at December 31, 2019		766,424		$	11.34		2,171,610		$	15.26

Issued		319,851			1.03		8,097,468			1.547
Forfeited		(72,728	)		10.58		(128,710	)		95.11
Exercised		-			-		(2,786,992	)		0.79

Outstanding at December 31, 2020		1,013,547		$	5.41		7,353,376		$	3.76

Issued		10,680			0.69		12,955,822			1.65
Forfeited		(18,078	)		9.89		-			-
Exercised		-			-		(5,247,059	)		0.86

Outstanding at March 31, 2021		1,006,149		$	5.25		15,062,139		$	2.96

Note 7 - Derivatives (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Derivative Liabilities at Fair Value [Table Text Block]

Derivative liability balance at December 31, 2019	$	50,989
Derivative instrument recognized for A, B and Agent Warrants		2,669,995
Derivative instrument related to Promissory Note 2020		120,921
Gain recognized to revalue derivative instrument at fair value		(27,107	)
Derivative liability balance at March 30, 2020	$	2,814,798

Derivative liability balance at December 31, 2020	$	294,382
Gain recognized to revalue derivative instrument at fair value		(95,671	)
Derivative liability balance at March 31, 2021	$	198,711

Note 8 - 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 per common share: basic and diluted calculation	$	(3,888,713	)	$	(4,529,317	)

Denominator:
Weighted average common shares outstanding-basic		36,513,300			4,886,328
Effect of diluted stock options, warrants, and preferred stock (1)		-			-
Weighted average common shares outstanding - diluted		36,513,300			4,886,328
Loss per common share-basic and diluted	$	(0.11	)	$	(0.93	)

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

	Three Months ended March 31,
	2021		2020
Options		1,006,419		794,038
Warrants		15,062,139		5,663,594
Convertible debt		-		378,000
Preferred stock: series B		7,925		7,925
Preferred stock: series D		-		350,000
Preferred stock: series E		-		691,159

Note 9 - Segments (Tables)

3 Months Ended

Mar. 31, 2021

Schedule of Segment Reporting Information, by Segment [Table Text Block]

	Three Months Ended March 31,
	2021		2020
Skyline	$	264,253	$	279,813
Helomics		1,989		15,130
Soluble		14,075		-
Corporate		-		-
Total	$	280,317	$	294,943

	Three Months Ended March 31,
	2021			2020
Skyline	$	(142,558	)	$	(409,844	)
Helomics		(1,227,676	)		(1,412,465	)
Soluble		(249,529	)		-
Corporate		(2,268,950	)		(2,707,008	)
Total	$	(3,888,713	)	$	(4,529,317	)

	As of March 31,		As of December 31,
	2021		2020
Skyline	$	872,761	$	1,191,439
Helomics		6,872,046		9,773,902
Soluble		1,849,905		1,883,585
Corporate		30,059,132		211,510
Total	$	39,653,844	$	13,060,436

Note 1 - Summary of Significant Accounting Policies (Details Textual) - USD ($)					1 Months Ended	2 Months Ended	3 Months Ended		12 Months Ended
	Apr. 21, 2021	Apr. 01, 2021	Mar. 01, 2021	Oct. 24, 2019	Oct. 31, 2019	Feb. 28, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Apr. 04, 2019	Mar. 31, 2018
Cash and Cash Equivalents, at Carrying Value, Ending Balance							$ 27,299,407		$ 678,332
Long-term Debt, Total							0
Proceeds from Issuance or Sale of Equity, Net of Stock Issuance Costs						$ 31,077,231	31,077,231	$ 3,127,818
Repayments of Debt							4,162,744	821,916
Accounts Receivable, Allowance for Credit Loss, Current							0		0
Goodwill, Impairment Loss									12,876,498
Accounts Receivable, after Allowance for Credit Loss, Total							264,928		256,878
Contract with Customer, Liability, Total							154,195		53,028
Research and Development Expense, Total							93,629	$ 129,341
Income Tax Expense (Benefit), Total							0
Unrecognized Tax Benefits, Ending Balance							0
Subsequent Event [Member] \| Amended and Restated 2012 Stock Incentive Plan [Member] \| Board of Directors Chairman [Member]
Shares Issued, Shares, Share-based Payment Arrangement, before Forfeiture (in shares)	5,000
Dr. Carl Schwartz [Member] \| Subsequent Event [Member]
Stock Issued During Period, Shares, Issued for Services (in shares)		100,000
Licensing Agreements [Member]
Impairment of Intangible Assets (Excluding Goodwill), Total									$ 0
Debt Issued in September 2018, September, 2019, and February 2020 [Member]
Repayments of Debt			$ 5,906,802
Equity Line Purchase Agreement [Member]
Issuance or Sale of Equity, Can Be Raised				$ 15,000,000
Sale of Stock, Remaining Available Balance							9,789,419
Equity Line Purchase Agreement [Member] \| Investor [Member]
Issuance or Sale of Equity, Can Be Raised					$ 15,000,000
Sale of Equity, Term (Year)					3 years
Sale of Stock, Remaining Available Balance							$ 9,789,419
Helomics Holding Corp. [Member]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage											25.00%
Business Acquisition, Percentage of Voting Interests Acquired										75.00%

Note 1 - Summary of Significant Accounting Policies - Schedule of Property, Plant and Equipment, Useful Life (Details)

3 Months Ended

Mar. 31, 2021

Minimum [Member] | Office Equipment [Member]

Minimum [Member] | Leasehold Improvements [Member]

3 years

Minimum [Member] | Manufacturing Tooling [Member]

2 years

^[1]

Minimum [Member] | Laboratory Equipment [Member]

3 years

Maximum [Member] | Office Equipment [Member]

4 years

Maximum [Member] | Leasehold Improvements [Member]

10 years

Maximum [Member] | Manufacturing Tooling [Member]

5 years

^[1]

Maximum [Member] | Laboratory Equipment [Member]

7 years

6 years

[1]	Leasehold improvements are amortized over the shorter of the useful life or the remaining lease term.

Note 1 - Summary of Significant Accounting Policies - Valuation Assumptions (Details)	3 Months Ended
	Mar. 31, 2021 yr	Mar. 31, 2020 yr
Expected dividend yield	0.00%	0.00%
Expected stock price volatility	84.80%	82.60%
Expected life (in years) (Year)	10 years	10 years
Measurement Input, Expected Dividend Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0	0
Measurement Input, Price Volatility [Member]
Warrants and Rights Outstanding, Measurement Input	0.848	0.826
Minimum [Member]
Risk-free interest rate	0.93%	0.70%
Minimum [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0.0042	0.0054
Minimum [Member] \| Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input	5	2
Maximum [Member]
Risk-free interest rate	1.45%	1.57%
Maximum [Member] \| Measurement Input, Risk Free Interest Rate [Member]
Warrants and Rights Outstanding, Measurement Input	0.0069	0.0079
Maximum [Member] \| Measurement Input, Expected Term [Member]
Warrants and Rights Outstanding, Measurement Input	5.5	5.5

Note 2 - Inventories - Schedule of Inventory (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Finished goods	$ 96,171	$ 95,898
Raw materials	141,413	151,366
Work-In-Process	55,240	42,271
Total	$ 292,824	$ 289,535

Note 3 - Fixed Assets (Details Textual) - USD ($)	3 Months Ended
Note 3 - Fixed Assets (Details Textual) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Depreciation, Total	$ 238,932	$ 130,075

Note 3 - Fixed Assets - Schedule of Property, Plant and Equipment (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Property, Plant, and Equipment Gross	$ 5,546,231	$ 5,154,547
Less: Accumulated depreciation	(1,570,778)	(1,331,847)
Total Fixed Assets, Net	3,975,453	3,822,700
Office Equipment [Member]
Property, Plant, and Equipment Gross	3,662,822	3,638,520
Leasehold Improvements [Member]
Property, Plant, and Equipment Gross	315,296	315,297
Laboratory Equipment [Member]
Property, Plant, and Equipment Gross	1,402,543	1,035,160
Manufacturing Tooling [Member]
Property, Plant, and Equipment Gross	108,956	108,956
Demo Equipment [Member]
Property, Plant, and Equipment Gross	$ 56,614	$ 56,614

Note 4 - Intangible Assets (Details Textual) - USD ($)	3 Months Ended
Note 4 - Intangible Assets (Details Textual) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Amortization of Intangible Assets, Total	$ 83,048	$ 76,505

Note 4 - Intangible Assets - Components of Intangible Assets (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Accumulated Amortization	$ (811,368)	$ (728,320)
Net Carrying Amount	3,316,489
Total, Gross Carrying Costs	4,127,857	4,126,421
Total, Net Carrying Amount	3,316,489	3,398,101
Trade Names 1 [Member]
Tradename		398,000
Tradename		(5,452)
Tradename		392,548
Patents and Trademarks [Member]
Gross Carrying Costs	402,857	401,421
Accumulated Amortization	(215,597)	(211,110)
Net Carrying Amount	187,260	190,311
Developed Technology Rights [Member]
Gross Carrying Costs	2,882,000	2,882,000
Accumulated Amortization	(288,199)	(252,175)
Net Carrying Amount	2,593,801	2,629,825
Customer Relationships [Member]
Gross Carrying Costs	445,000	445,000
Accumulated Amortization	(296,667)	(259,583)
Net Carrying Amount	148,333	$ 185,417
Trade Names [Member]
Tradename	398,000
Tradename	(10,905)
Tradename	$ 387,095

Note 4 - Intangible Assets - Estimated Future Amortization Expense (Details)	Mar. 31, 2021 USD ($)
2021	$ 249,182
2022	220,993
2023	183,910
2024	183,910
2025	183,910
Thereafter	2,294,584
Total	$ 3,316,489

Note 5 - Notes Payable (Details Textual) - USD ($)		3 Months Ended
Note 5 - Notes Payable (Details Textual) - USD ($)	Mar. 01, 2021	Mar. 31, 2021	Mar. 31, 2020
Debt Conversion, Original Debt, Amount		$ 514,011
Repayments of Debt		4,162,744	$ 821,916
Debt Issued in September 2018, September, 2019, and February 2020 [Member]
Repayments of Debt	$ 5,906,802
Conversion of 2018 Investor Loan into Common Stock [Member]
Debt Conversion, Original Debt, Amount		$ 267,328
Debt Conversion, Converted Instrument, Shares Issued (in shares)		170,000
Conversion of 2019 and 2020 Investor Promissory Notes into Common Stock [Member]
Debt Conversion, Original Debt, Amount		$ 514,011
Debt Conversion, Converted Instrument, Shares Issued (in shares)		1,107,544

Note 5 - Notes Payable - Notes Payable (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Notes Payable, Gross		$ 4,676,755
Less: Unamortized discount		(244,830)
Notes Payable		4,431,925
Promissory Note, One [Member]
Notes Payable, Gross		1,490,833
Promissory Note, Two [Member]
Notes Payable, Gross		1,464,146
Convertible Promissory Note [Member]
Notes Payable, Gross		$ 1,721,776

Note 6 - Stockholders' Equity, Stock Options and Warrants (Details Textual) - USD ($)		2 Months Ended	3 Months Ended
	Oct. 24, 2019	Feb. 28, 2021	Mar. 31, 2021	Mar. 31, 2020
Stock Issued During Period, Shares, New Issues (in shares)			22,531,864
Sale of Stock, Agent Placement Fee, Percent of Gross Proceeds		7.50%
Sale of Stock, Management Fee, Percent of Gross Proceeds		1.00%
Proceeds from Warrant Exercises			$ 4,495,270
Share-based Payment Arrangement, Expense			565,082	$ 287,838
Share-based Payment Arrangement, Accelerated Cost			403,721
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount			$ 7,357
Share-based Payment Arrangement, Option [Member]
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Month)			1 year 180 days
Maximum [Member] \| Share-based Payment Arrangement, Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year)			10 years
Equity Incentive Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year)			3 years
Investor Warrants [Member]
Stock Issued During Period, Shares, Warrant Exercises (in shares)			5,247,059
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)			$ 0.86
Proceeds from Warrant Exercises			$ 4,495,270
Placement Agent Warrants [Member]
Sale of Stock, Placement Agent, Warrants Assigned, Number of Securities Called by Warrants, Percent of Shares Sold		7.50%
Class of Warrant or Right, Exercise Price of Warrants or Rights, Percent of Stock Price		125.00%
Equity Line Purchase Agreement [Member]
Issuance or Sale of Equity, Can Be Raised	$ 15,000,000
Stock Issued During Period, Shares, New Issues (in shares)	104,651
Stock Issued During Period, Value, New Issues	$ 450,000
Sale of Stock, Remaining Available Balance			9,789,419
Registered Direct Offerings [Member]
Stock Issued During Period, Value, New Issues			15,012,492
Number of Warrants Issued to Each Investor, Per Two Shares of Stock Purchased (in shares)		1
Registered Direct Offerings [Member] \| Investor Warrants [Member]
Warrants and Rights Outstanding, Term (Year)		5 years 182 days
Registered Direct Offerings [Member] \| Placement Agent Warrants [Member]
Warrants and Rights Outstanding, Term (Year)		5 years
Private Placement [Member]
Stock Issued During Period, Value, New Issues			$ 16,064,739
Number of Warrants Issued to Each Investor, Per Two Shares of Stock Purchased (in shares)		1
Private Placement [Member] \| Placement Agent Warrants [Member]
Warrants and Rights Outstanding, Term (Year)		5 years 182 days

Note 6 - Stockholders' Equity, Stock Options and Warrants - Stock Offerings (Details) - USD ($)

2 Months Ended

3 Months Ended

Feb. 28, 2021

Mar. 31, 2021

Mar. 31, 2020

22,531,864

$ 34,396,319

Investor Warrants [Member]

$ 31,077,231

$ 3,127,818

Warrants issued, exercise price (in dollars per share)

11,265,932

$ 0.86

Placement Agent Warrants [Member]

January 12, 2021 Registered Direct Offering [Member]

1,689,890

Shares issued, price per share (in dollars per share)

3,650,840

^[1]

$ 0.842

$ 3,074,007

January 12, 2021 Registered Direct Offering [Member] | Investor Warrants [Member]

$ 2,731,766

Warrants issued, exercise price (in dollars per share)

1,825,420

$ 0.80

January 12, 2021 Registered Direct Offering [Member] | Placement Agent Warrants [Member]

Warrants issued, exercise price (in dollars per share)

273,813

$ 1.0525

January 21, 2021 Registered Direct Offering [Member]

Shares issued, price per share (in dollars per share)

2,200,000

^[1]

$ 1

$ 2,200,000

January 21, 2021 Registered Direct Offering [Member] | Investor Warrants [Member]

$ 1,932,050

Warrants issued, exercise price (in dollars per share)

1,100,000

$ 1

January 21, 2021 Registered Direct Offering [Member] | Placement Agent Warrants [Member]

Warrants issued, exercise price (in dollars per share)

165,000

$ 1.25

January 26, 2021 Registered Direct Offering [Member]

Shares issued, price per share (in dollars per share)

3,414,970

^[1]

$ 1.20

$ 4,097,964

January 26, 2021 Registered Direct Offering [Member] | Investor Warrants [Member]

$ 3,668,687

Warrants issued, exercise price (in dollars per share)

1,707,485

$ 1.37

January 26, 2021 Registered Direct Offering [Member] | Placement Agent Warrants [Member]

Warrants issued, exercise price (in dollars per share)

256,123

$ 1.50

February 16, 2021 Registered Direct Offering [Member]

Shares issued, price per share (in dollars per share)

4,222,288

^[1]

$ 1.75

$ 7,389,004

February 16, 2021 Registered Direct Offering [Member] | Investor Warrants [Member]

$ 6,679,989

Warrants issued, exercise price (in dollars per share)

2,111,144

$ 2

February 16, 2021 Registered Direct Offering [Member] | Placement Agent Warrants [Member]

Warrants issued, exercise price (in dollars per share)

316,672

$ 2.1875

Febuary 23, 2021 Private Placement [Member]

Shares issued, price per share (in dollars per share)

9,043,766

^[1]

$ 1.95

$ 17,635,344

Febuary 23, 2021 Private Placement [Member] | Investor Warrants [Member]

$ 16,064,739

Warrants issued, exercise price (in dollars per share)

4,521,883

$ 2

Febuary 23, 2021 Private Placement [Member] | Placement Agent Warrants [Member]

Warrants issued, exercise price (in dollars per share)

678,282

$ 2.4375

[1]	Sale price includes one share and a warrant to purchase one-half share.

Note 6 - Stockholders' Equity, Stock Options and Warrants - Summary of Transactions for Stock Options and Warrants (Details) - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Warrant [Member]
Number of Shares Outstanding (in shares)	7,353,376	2,171,610
Average Exercise Price Outstanding (in dollars per share)	$ 3.76	$ 15.26
Number of Shares Issued (in shares)	12,955,822	8,097,468
Average Exercise Price Issued (in dollars per share)	$ 1.65	$ 1.547
Number of Shares Forfeited (in shares)		(128,710)
Average Exercise Price Forfeited (in dollars per share)		$ 95.11
Number of Shares Exercised (in shares)	(5,247,059)	(2,786,992)
Average Exercise Price Exercised (in dollars per share)	$ 0.86	$ 0.79
Number of Shares Outstanding (in shares)	15,062,139	7,353,376
Average Exercise Price Outstanding (in dollars per share)	$ 2.96	$ 3.76
Share-based Payment Arrangement, Option [Member]
Number of Shares Outstanding (in shares)	1,013,547	766,424
Average Exercise Price Outstanding (in dollars per share)	$ 5.41	$ 11.34
Number of Shares Issued (in shares)	10,680	319,851
Average Exercise Price Issued (in dollars per share)	$ 0.69	$ 1.03
Number of Shares Forfeited (in shares)	(18,078)	(72,728)
Average Exercise Price Forfeited (in dollars per share)	$ 9.89	$ 10.58
Number of Shares Exercised (in shares)
Average Exercise Price Exercised (in dollars per share)
Average Exercise Price Exercised (in dollars per share)
Number of Shares Outstanding (in shares)	1,006,149	1,013,547
Average Exercise Price Outstanding (in dollars per share)	$ 5.25	$ 5.41

Note 7 - Derivatives (Details Textual) - USD ($)	3 Months Ended
Note 7 - Derivatives (Details Textual) - USD ($)	Mar. 31, 2021	Mar. 01, 2021	Dec. 31, 2020
Agent Warrants In Connection With March 2020 Private Placement [Member]
Derivative Liability, Total	$ 66,161		$ 33,654
Derivative, Gain (Loss) on Derivative, Net, Total	32,507
Agent Warrants Issued In connection With May 2020 Offering [Member]
Derivative Liability, Total	65,139		33,819
Derivative, Gain (Loss) on Derivative, Net, Total	31,320
Agent Warrants In Connection With June 2020 Warrant [Member]
Derivative Liability, Total	67,411		32,701
Derivative, Gain (Loss) on Derivative, Net, Total	34,710
Promissory Note 2020 Conversion Feature [Member]
Derivative Liability, Total		$ 0	104,529
Derivative, Gain (Loss) on Derivative, Net, Total	104,529
Promissory Note 2019 Conversion Feature Agent Warrants [Member]
Derivative Liability, Total		$ 0	$ 89,680
Derivative, Gain (Loss) on Derivative, Net, Total	$ 89,680

Note 7 - Derivatives - Change in Fair Value of Derivative Liabilities (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Derivative liability balance	$ 294,382	$ 50,989
Gain recognized to revalue derivative instrument at fair value	(95,671)	(27,107)
Derivative liability balance	$ 198,711	2,814,798
A, B and Agent Warrants [Member]
Derivative instrument recognized		2,669,995
Promissory Note 2020 [Member]
Derivative instrument recognized		$ 120,921

Note 8 - Loss Per Share - Shares Used in Basic and Diluted Loss Per Common Share Computations (Details) - USD ($)

3 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Net loss attributable to common shareholders per common share: basic and diluted calculation

$ (3,888,713)

$ (4,529,317)

Weighted average common shares outstanding-basic (in shares)

36,513,300

4,886,328

Effect of diluted stock options, warrants, and preferred stock (1) (in shares)

^[1]

Weighted average common shares outstanding - diluted (in shares)

36,513,300

4,886,328

Loss per common share-basic and diluted (in dollars per share)

$ 0.11

$ 0.93

[1]	The following is a summary of the number of underlying shares outstanding at the end of the respective periods that have been excluded from the diluted calculations because the effect on loss per common share would have been anti-dilutive:

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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Note 8 - Loss Per Share - Antidilutive Securities Excluded from the Diluted Calculations (Details) - shares	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Share-based Payment Arrangement, Option [Member]
Antidilutive Securities (in shares)	1,006,419	794,038
Warrant [Member]
Antidilutive Securities (in shares)	15,062,139	5,663,594
Convertible Debt Securities [Member]
Antidilutive Securities (in shares)		378,000
Series B Convertible Preferred Stock [Member]
Antidilutive Securities (in shares)	7,925	7,925
Series D Convertible Preferred Stock [Member]
Antidilutive Securities (in shares)		350,000
Series E Convertible Preferred Stock [Member]
Antidilutive Securities (in shares)		691,159

Note 9 - Segments (Details Textual)	3 Months Ended
Note 9 - Segments (Details Textual)	Mar. 31, 2021
Number of Operating Segments	3

Note 9 - Segments - Segments (Details) - USD ($)	3 Months Ended
Note 9 - Segments - Segments (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue	$ 280,317	$ 294,943
Net loss	(3,888,713)	(4,529,317)
Assets	39,653,844		$ 13,060,436
Corporate, Non-Segment [Member]
Revenue
Net loss	(2,268,950)	(2,707,008)
Assets	30,059,132		211,510
Skyline [Member] \| Operating Segments [Member]
Revenue	264,253	279,813
Net loss	(142,558)	(409,844)
Assets	872,761		1,191,439
Helomics Segment [Member] \| Operating Segments [Member]
Revenue	1,989	15,130
Net loss	(1,227,676)	(1,412,465)
Assets	6,872,046		9,773,902
Soluble [Member] \| Operating Segments [Member]
Revenue	14,075
Net loss	(249,529)
Assets	$ 1,849,905		$ 1,883,585

Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.

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

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Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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