Note 3 - Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2016

Tables/Schedules

Schedule of Fair Value of Liabilities Measured on Recurring Basis

Liabilities measured at fair value on a recurring basis were as follows at March 31, 2016:

	Total	Level 1	Level 2	Level 3
Derivative liability	$7,168,777	$-	$-	$7,168,777
Convertible debentures, net of discount	2,596,757	-	-	2,596,757
Current portion of long-term debt, net     of discount	29,777	-	-	29,777
Long-term debt, net of current portion     and discount	134,893	-	-	134,893
Total liabilities measured at fair value	$9,930,204	$-	$-	$9,930,204