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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
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3 Months Ended | |
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Mar. 31, 2015
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Mar. 31, 2014
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| Operating activities | ||
| Net loss | $ (2,801,086)us-gaap_ProfitLoss | $ (902,892)us-gaap_ProfitLoss |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 342us-gaap_DepreciationDepletionAndAmortization | 600us-gaap_DepreciationDepletionAndAmortization |
| Non-cash interest expense charge on beneficial conversion feature on notes | 1,663,873us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature | 0us-gaap_DebtInstrumentConvertibleBeneficialConversionFeature |
| Non-cash interest expense on accounting of the debt discount on the 2014 notes | 244,111us-gaap_AmortizationOfFinancingCostsAndDiscounts | |
| Fair value adjustment on Common Stock Warrants | (223,171)us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims | 0us-gaap_IssuanceOfStockAndWarrantsForServicesOrClaims |
| Stock-based compensation | 484,540us-gaap_ShareBasedCompensation | 22,741us-gaap_ShareBasedCompensation |
| Write-off of stockholders notes receivable | 0eyeg_WriteOffOfStockholdersNotesReceivable | 200,758eyeg_WriteOffOfStockholdersNotesReceivable |
| Changes in operating assets and liabilities: | ||
| Prepaid expenses and other current assets | (154,092)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets | 4,712us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets |
| Refundable tax credit receivable | (744)us-gaap_IncreaseDecreaseInIncomeTaxesReceivable | (2,027)us-gaap_IncreaseDecreaseInIncomeTaxesReceivable |
| Other assets | 463us-gaap_IncreaseDecreaseInOtherOperatingAssets | (25,446)us-gaap_IncreaseDecreaseInOtherOperatingAssets |
| Accounts payable | (279,714)us-gaap_IncreaseDecreaseInAccountsPayable | (5,587)us-gaap_IncreaseDecreaseInAccountsPayable |
| Accrued expenses | (703,472)us-gaap_IncreaseDecreaseInAccruedLiabilities | 276,043us-gaap_IncreaseDecreaseInAccruedLiabilities |
| Net cash used in operating activities | (1,768,950)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations | (431,098)us-gaap_NetCashProvidedByUsedInOperatingActivitiesContinuingOperations |
| Investing activities: | ||
| Restricted cash | (20,000)us-gaap_IncreaseDecreaseInRestrictedCash | |
| Net cash used in investing activities | (20,000)us-gaap_NetCashProvidedByUsedInInvestingActivitiesContinuingOperations | |
| Financing activities | ||
| Proceeds from convertible notes payable | 0eyeg_ProceedsFromConvertibleNotesPayable | 446,151eyeg_ProceedsFromConvertibleNotesPayable |
| Exercise of common stock options | 14,948us-gaap_ProceedsFromStockOptionsExercised | 0us-gaap_ProceedsFromStockOptionsExercised |
| Proceeds from initial public offering | 4,099,500us-gaap_ProceedsFromIssuanceInitialPublicOffering | 0us-gaap_ProceedsFromIssuanceInitialPublicOffering |
| Offering costs | (224,864)us-gaap_PaymentOfFinancingAndStockIssuanceCosts | 0us-gaap_PaymentOfFinancingAndStockIssuanceCosts |
| Payments grants payable | (32,628)us-gaap_ProceedsFromPaymentsForOtherFinancingActivities | 0us-gaap_ProceedsFromPaymentsForOtherFinancingActivities |
| Net cash provided by financing activities | 3,856,956us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations | 446,151us-gaap_NetCashProvidedByUsedInFinancingActivitiesContinuingOperations |
| Effect of exchange rate changes on cash | 50,177us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents | 7,153us-gaap_EffectOfExchangeRateOnCashAndCashEquivalents |
| Net increase in cash | 2,118,183us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease | 22,206us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease |
| Cash, beginning of period | 167,001us-gaap_CashAndCashEquivalentsAtCarryingValue | 501,172us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Cash, end of period | 2,285,184us-gaap_CashAndCashEquivalentsAtCarryingValue | 523,738us-gaap_CashAndCashEquivalentsAtCarryingValue |
| Supplemental disclosure of cash flow information | ||
| Cash paid for interest | 0us-gaap_InterestPaid | 0us-gaap_InterestPaid |
| Cash paid for income taxes | 0us-gaap_IncomeTaxesPaidNet | 0us-gaap_IncomeTaxesPaidNet |
| Supplemental disclosure of noncash investing and financing activities | ||
| Conversion of non-controlling interests to common stock | 6,818,732eyeg_ConversionOfNonControllingInterestsToCommonstock | 0eyeg_ConversionOfNonControllingInterestsToCommonstock |
| Conversion of preferred stock into common stock | 36,408,666eyeg_ConversionOfPreferredStockIntoCommonStock | 0eyeg_ConversionOfPreferredStockIntoCommonStock |
| Exercise of common warrants | 97eyeg_ExerciseOfCommonWarrants | 0eyeg_ExerciseOfCommonWarrants |
| Conversion of promissory notes and accrued interest into common stock | 3,532,694us-gaap_DebtConversionOriginalDebtAmount1 | 0us-gaap_DebtConversionOriginalDebtAmount1 |
| Deemed dividend on conversion of preferred stock | 8,222,008us-gaap_PreferredStockConversionsInducements | |
| Application of deferred offering costs on IPO | 1,148,994us-gaap_WriteOffOfDeferredDebtIssuanceCost | |
| Warrant liability reclassed to stockholders’ equity | $ 79,930us-gaap_EmbeddedDerivativeNoLongerBifurcatedAmountReclassifiedToStockholdersEquity | |
| X | ||||||||||
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- Definition
Amount of non-controlling interests converted into common stock during the reporting period. No definition available.
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| X | ||||||||||
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- Definition
Amount of convertible preferred stock converted into common stock during the reporting period. No definition available.
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| X | ||||||||||
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- Definition
Amount of stock issued upon exercise of common stock. No definition available.
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| X | ||||||||||
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- Definition
The cash inflow from convertible notes payable. No definition available.
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| X | ||||||||||
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- Definition
Write-off of stockholders notes receivable during the period. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of noncash expense included in interest expense to allocate debt discount and premium, and the costs to issue debt and obtain financing over the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of a favorable spread to a debt holder between the amount of debt being converted and the value of the securities received upon conversion. This is an embedded conversion feature of convertible debt issued that is in-the-money at the commitment date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) from the effect of exchange rate changes on cash and cash equivalent balances held in foreign currencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of the liability for the conversion option reclassified to stockholders' equity when the embedded option no longer required separation from the host instrument. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of cash paid during the current period to foreign, federal, state, and local authorities as taxes on income, net of any cash received during the current period as refunds for the overpayment of taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in other assets used in operating activities not separately disclosed in the statement of cash flows. May include changes in other current assets, other noncurrent assets, or a combination of other current and noncurrent assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of cash paid for interest during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Fair value of share-based compensation granted to nonemployees as payment for services rendered or acknowledged claims. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of financing activities, excluding discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) of investing activities, excluding discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, excluding discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The total of the cash outflow during the period which has been paid to third parties in connection with debt origination, which will be amortized over the remaining maturity period of the associated long-term debt and the cost incurred directly for the issuance of equity securities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The excess of (1) the fair value of all securities and other consideration transferred in transactions by the registrant to the holders of the convertible preferred stock over (2) the fair value of securities issuable pursuant to the original conversion terms, during the accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from entity's first offering of stock to the public. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The net cash inflow or outflow from other financing activities. This element is used when there is not a more specific and appropriate element in the taxonomy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the amount received from holders exercising their stock options. This item inherently excludes any excess tax benefit, which the entity may have realized and reported separately. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Write-off of amounts previously capitalized as debt issuance cost in an extinguishment of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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