Note 3 - Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2016:

	Total	Level 1	Level 2	Level 3
Derivative liability	$4,394,475	$-	$-	$4,394,475
Convertible debentures, net of discount	2,748,116	-	-	2,748,116
Current portion of long-term debt, net     of discount	29,977	-	-	29,977
Long-term debt, net of current portion     and discount	216,550	-	-	216,550
Total liabilities measured at fair value	$7,389,118	$-	$-	$7,389,118