Subsequent Events (Details Narrative) - USD ($) |
Oct. 23, 2018 |
Sep. 30, 2018 |
Jun. 30, 2018 |
May 14, 2018 |
|---|---|---|---|---|
| Principal amount | $ 15,000,000 | $ 15,000,000 | $ 15,000,000 | |
| Interest rate | 6.50% | |||
| Subsequent Event [Member] | Over-Allotment Option [Member] | ||||
| Number of common stock sold | 1,087,500 | |||
| Net proceeds from common stock offering | $ 28,500,000 | |||
| Options exercised price (after deducting the underwriting discount and estimated offering expenses payable) | $ 32,900,000 | |||
| Description of grand in offering | <p><font style="font: 10pt Times New Roman, Times, Serif">For a period of 30 calendar days from October 19, 2018</font></p> | |||
| Subsequent Event [Member] | Underwriting Agreement [Member] | Oppenheimer & Co. Inc [Member] | ||||
| Number of common stock sold | 7,250,000 | |||
| Subsequent Event [Member] | 6.5% Convertible Senior Secured Notes [Member] | ||||
| Principal amount | $ 10,000,000 | |||
| Maturity date | Nov. 30, 2023 | |||
| Description of interest payment date | <p><font style="font: 10pt Times New Roman, Times, Serif">Interest on the notes accrues at the rate of 6.5% per year and is payable in cash on each February 28, May 31, August 31 and November 30, beginning February 28, 2019.</font></p> | |||
| Conversion price | $ 5.10 | |||
| Description of redemtion debt | <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 10pt Times New Roman, Times, Serif">The Company may redeem the notes in certain cases, in whole or in part, at a redemption price equal to 100% of the principal amount plus accrued and unpaid interest on such principal, if any, up to the redemption date so long as the closing price of the Company’s common stock exceeds a certain amount in excess of the then-effective conversion price of the notes. If the Company redeems the notes, the holders of the notes will also receive an interest make-whole payment equal to the remaining scheduled interest payments that would have been made on the notes redeemed had such notes remained outstanding through the maturity date, which shall be paid in cash and, in certain cases, may be paid in shares of the Company’s common stock.</font></p> | |||
| Description of debt conversion | <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 10pt Times New Roman, Times, Serif">The notes are convertible into common stock at the option of the holder at any time prior to maturity at an initial conversion price of $5.10 per share, subject to adjustment under certain circumstances.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 10pt Times New Roman, Times, Serif"> </font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><font style="font: 10pt Times New Roman, Times, Serif">The holders of the notes will have a one-time right exercisable prior to November 30, 2021 (the “put date”), in the manner described in the indenture, to require us to repurchase for cash all (but not less than all) of such holders’ notes on the put date at a purchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to, and including, the put date.</font></p> | |||
| Description of debt fundamental change | <p style="font: 10pt Times New Roman, Times, Serif"><font style="font: 10pt Times New Roman, Times, Serif">If a “fundamental change” (as defined in the indenture governing the notes) occurs at any time prior to the maturity date, subject to certain conditions, holders of the notes will have the right, at their option, to require the Company to repurchase for cash all or part of such holder’s notes at a purchase price equal to 100% of the principal amount of the notes to be repurchased, plus accrued and unpaid interest to the fundamental change repurchase date. In addition, if a holder elects to convert its notes following the occurrence of a “qualifying fundamental change” (as defined in the indenture governing the notes) prior to the maturity date, the Company will, under certain circumstances, make a payment to such holder for conversion equal to $130 per $1,000 of aggregate principal of notes so surrendered for conversion, which shall be paid in cash and, in certain cases, may be paid in shares of the Company’s common stock.</font></p> | |||
| Net proceeds from offering | $ 8,900,000 |