Quarterly report pursuant to Section 13 or 15(d)

NOTE 7: EQUITY TRANSACTIONS

v3.7.0.1
NOTE 7: EQUITY TRANSACTIONS
 3 Months Ended
Mar. 31, 2017
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]
NOTE 7: EQUITY TRANSACTIONS

Common Stock

During the three months ended March 31, 2017, the Company issued a total of 10,546,244 shares of common stock for the conversion of $763,390 in convertible note principal.

Common Stock Options

A summary of common stock option activity for the three months ended March 31, 2017 is as follows:

 
        
Weighted
    
Weighted
  
 
        
Average
    
Average
  
 
  
Options
    
Exercise Price
    
Remaining Term
  
Outstanding - December 31, 2016
    
685,713
    
$
4.52
      
2.62
  
Granted
    
-
      
-
      
-
  
Expired
    
-
      
-
      
-
  
Exercised
    
-
      
-
      
-
  
Outstanding – March 31, 2017
    
685,713
    
$
4.52
      
2.37
  
 
                        
Exercisable – March 31, 2017
    
685,713
    
$
4.52
      
2.37
  

The intrinsic value of the exercisable options as of March 31, 2017 was $0.

Common Stock Warrants

The following table presents the common stock warrant activity during the three months ended March 31, 2017:

 
        
Weighted
    
Weighted
  
 
        
Average
    
Average
  
 
  
Warrants
    
Exercise Price
    
Remaining Term
  
Outstanding - December 31, 2016
    
7,314,423
    
$
0.60
      
3.12
  
Granted
    
72,497
      
0.15
      
4.99
  
Forfeited/canceled
    
-
      
-
      
-
  
Exercised
    
-
      
-
      
-
  
Outstanding – March 31, 2017
    
7,386,920
    
$
0.41
      
2.89
  
 
                        
Exercisable – March 31, 2017
    
7, 386,920
    
$
0.41
      
2.89
  

The intrinsic value of the exercisable warrants as of March 31, 2017 was $1,702.