Quarterly report pursuant to Section 13 or 15(d)

NOTE 7: EQUITY TRANSACTIONS (Tables)

NOTE 7: EQUITY TRANSACTIONS (Tables)

6 Months Ended

Jun. 30, 2017

Stockholders' Equity Note [Abstract]

Share-based Compensation, Stock Options, Activity [Table Text Block]

A summary of common stock option activity for the six months ended June 30, 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 – June 30, 2017		685,713	$	4.52		1.22

Exercisable – June 30, 2017		685,713	$	4.52		1.22

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The following table presents the common stock warrant activity during the six months ended June 30, 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/expired		(38,571	)		1.75		-
Exercised		-			-		-
Outstanding – June 30, 2017		7,348,349		$	0.40		2.66

Exercisable – June 30, 2017		7,348,349		$	0.40		2.66

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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