Stockholders' Equity (Details Narrative) |
6 Months Ended | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 19, 2019
shares
|
Mar. 28, 2019
USD ($)
$ / shares
shares
|
Mar. 19, 2019
USD ($)
$ / shares
shares
|
Mar. 19, 2019
USD ($)
$ / shares
|
Jun. 21, 2018
USD ($)
$ / shares
shares
|
Jun. 21, 2018
USD ($)
$ / shares
shares
|
Jun. 19, 2018
$ / shares
shares
|
Sep. 12, 2016 |
Jul. 29, 2016
$ / shares
|
Jul. 29, 2016
$ / shares
|
Jun. 30, 2019
USD ($)
$ / shares
shares
|
Jun. 30, 2018
USD ($)
shares
|
Dec. 31, 2018
USD ($)
$ / shares
shares
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2015
shares
|
|
Net proceeds from offering | $ | $ 27,800,000 | $ 30,103,307 | |||||||||||||
Number of warrant to purchase of common stock | 240,000 | 20,000,000 | |||||||||||||
Common stock, shares outstanding | 946,000 | 144,205,850 | 113,287,670 | ||||||||||||
Warrants [Member] | |||||||||||||||
Number of warrant to purchase of common stock | 5,799,429 | ||||||||||||||
Issuance of warrants description | The Company may call the warrants at any time the common stock trades above $3.00 for twenty (20) consecutive days | ||||||||||||||
Placement Agency Agreement [Member] | |||||||||||||||
Gross proceeds of shares issued | $ | $ 8,000,000 | ||||||||||||||
Net proceeds of shares issued | $ | $ 7,100,000 | ||||||||||||||
Percentage of gross proceeds | 7.00% | ||||||||||||||
Percentage of non- accountable expenses | 1.00% | ||||||||||||||
Placement Agency Agreement [Member] | 2018 Placement Agent Warrants [Member] | |||||||||||||||
Number of warrant to purchase of common stock | 240,000 | 240,000 | |||||||||||||
Fair value of warrants | $ | $ 89,000 | ||||||||||||||
Class of warrant or right, exercise price of warrants or rights | $ / shares | $ 0.75 | $ 0.75 | |||||||||||||
Warrant term | 5 years | 5 years | |||||||||||||
Series A Preferred Stock [Member] | |||||||||||||||
Preferred stock shares authorized | 10,000,000 | ||||||||||||||
Preferred stock par value | $ / shares | $ 0.001 | ||||||||||||||
Preferred stock, shares outstanding | 1,467,858 | ||||||||||||||
Preferred stock conversion basis | Series A Preferred Stock to be converted, multiplied by the stated value of $5.00 per share (the "Stated Value"), divided by the Conversion Price in effect at the time of the conversion (the initial conversion price is $0.50, subject to adjustment in the event of stock splits, stock dividends, and a "fundamental transaction" | ||||||||||||||
Conversion price per share | $ / shares | $ 0.50 | $ 0.50 | $ 0.50 | ||||||||||||
Number of preferred stock shares converted | 14,678,580 | ||||||||||||||
Intrinsic value | $ | $ 4,400,000 | ||||||||||||||
Dividend rate | 8.00% | 8.00% | |||||||||||||
Paid in kind dividend | $ | $ 1,200,000 | ||||||||||||||
Dividends in stock | 2,348,572 | ||||||||||||||
Dividend accrued | $ | $ 600 | $ 600 | |||||||||||||
Royalty payment rights, description | The Company is required to pay to the holders of the Series A Preferred Stock, subject to certain vesting requirements, in the aggregate, a royalty (the "Royalty Payment Rights") equal to (i) 4.5% of Net Sales (as defined in the Series A Certificate of Designation), subject in all cases to a cap of $25 million per calendar year, and (ii) 7.5% of Licensing Proceeds (as defined in the Series A Certificate of Designation), subject in all cases to a cap of $10 million per calendar year. | The Series A Preferred Stock includes the right, as a group, to receive: (i) a royalty of 4.5% of the net sales of the Company's MAT2203 and MAT2501 product candidates, in each case from and after the date, respectively, such product candidate has received FDA or EMA approval, and (ii) a royalty of 7.5% of the proceeds, if any, received by the Company in connection with the licensing or other disposition by the Company of MAT2203 and/or MAT2501 ("Royalty Payment Rights"). | |||||||||||||
Series A Preferred Stock [Member] | Designated [Member] | |||||||||||||||
Preferred stock shares authorized | 1,600,000 | ||||||||||||||
Series B Preferred Stock [Member] | |||||||||||||||
Preferred stock, shares outstanding | 4,630 | ||||||||||||||
Conversion price per share | $ / shares | $ 0.50 | ||||||||||||||
Number of preferred stock shares converted | 2,000 | ||||||||||||||
Dividend rate | 10.00% | ||||||||||||||
Number share issued upon conversion | 189 | 25 | |||||||||||||
Stock conversion percentage | 0.501 | ||||||||||||||
Beneficial ownership limitation description | The Beneficial Ownership Limitation, or such holder, together with such holder's affiliates, and any persons acting as a group together with such holder or affiliates, would beneficially own in excess of the Beneficial Ownership Limitation. The "Beneficial Ownership Limitation" is 4.99% of the number of shares of the Company's common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon conversion of Series B Preferred Stock held by the applicable holder. A holder may, prior to issuance of the Series B Preferred Stock or, with 61 days prior notice to us, elect to increase or decrease the Beneficial Ownership Limitation; provided, however, that in no event may the Beneficial Ownership Limitation exceed 9.99%. | ||||||||||||||
Liquidity value and dividends, description | (i) a number of shares of common stock equal to 10% of the shares of common stock underlying the Series B Preferred Stock then held by such holder on the 12 month anniversary of the COD Effective Date, (ii) a number of shares of common stock equal to 15% of the shares of common stock underlying the Series B Preferred Stock then held by such holder on the 24-month anniversary of the COD Effective Date and (iii) a number of shares of common stock equal to 20% of the shares of common stock underlying the Series B Preferred Stock then held by such holder on the 36-month anniversary of the COD Effective Date. In the event a purchaser in this offering no longer holds Series B Preferred Stock as of the 12-month anniversary, the 24-month anniversary or the 36-month anniversary, such purchaser will not be entitled to receive any dividends on such anniversary date. Based on an accounting of the holders of record of Series B Preferred Stock on June 19, 2019, the Company paid the 12-month anniversary dividend payment of 10%, totaling 946,000 shares of common stock. | ||||||||||||||
Liquidation value of preferred share value | $ / shares | $ 1,000 | ||||||||||||||
Series B Preferred Stock [Member] | Undesignated [Member] | |||||||||||||||
Preferred stock shares authorized | 8,000 | ||||||||||||||
Series B Convertible Preferred Stock [Member] | |||||||||||||||
Preferred stock shares authorized | 8,000 | 8,000 | |||||||||||||
Preferred stock par value | $ / shares | $ 1,000 | $ 1,000 | |||||||||||||
Preferred stock, shares outstanding | 4,630 | 4,819 | |||||||||||||
Series B Convertible Preferred Stock [Member] | Placement Agency Agreement [Member] | |||||||||||||||
Preferred stock par value | $ / shares | $ 0.0001 | ||||||||||||||
Number share issued upon conversion | 8,000 | ||||||||||||||
Preferred stock stated value | $ / shares | $ 1,000 | ||||||||||||||
Common Stock [Member] | Placement Agency Agreement [Member] | |||||||||||||||
Conversion price per share | $ / shares | $ 0.50 | ||||||||||||||
Number share issued upon conversion | 16,000,000 | ||||||||||||||
Number of common shares issued | 7,200,000 | ||||||||||||||
Maximum [Member] | Warrants [Member] | |||||||||||||||
Class of warrant or right, exercise price of warrants or rights | $ / shares | $ 0.75 | ||||||||||||||
Minimum [Member] | Warrants [Member] | |||||||||||||||
Class of warrant or right, exercise price of warrants or rights | $ / shares | 0.50 | ||||||||||||||
Holders [Member] | Series B Preferred Stock [Member] | |||||||||||||||
Conversion price per share | $ / shares | $ 0.50 | ||||||||||||||
Number of preferred stock shares converted | 9,260,000 | ||||||||||||||
BTIG, LLC [Member] | |||||||||||||||
Offering sale of public shares | 2,199,259 | 27,272,727 | |||||||||||||
Price per share | $ / shares | $ 1.10 | $ 1.10 | $ 1.10 | ||||||||||||
Gross proceeds from offering | $ | $ 30,500,000 | ||||||||||||||
Net proceeds from offering | $ | $ 2,300,000 | $ 27,800,000 | |||||||||||||
BTIG, LLC [Member] | Underwriters [Member] | Maximum [Member] | |||||||||||||||
Number of options to purchase common stock | 4,090,909 |