STOCK OPTION PLAN AND WARRANTS (Tables)

3 Months Ended

Mar. 31, 2016

STOCK OPTION PLAN AND WARRANTS [Abstract]

Summary of the status of stock options

A summary of the status of stock options outstanding under the Plan as of March 31, 2016 and December 31, 2015 is as follows:

	3/31/2016					12/31/2015
	Number of Shares			Weighted Average Exercise Price		Number of Shares			Weighted Average  Exercise Price
Outstanding at beginning of year		11,103,275		$	0.78		11,033,675		$	1.05
Granted		-					6,299,600		$	0.29
Exercised		-					-
Expired and Cancelled		(2,074,848	)	$	0.31		(6,230,000	)	$	0.77
		9,028,427		$	0.86		11,103,275
Outstanding, end of period		9,028,427		$	0.86		11,103,275		$	0.78
Exercisable at end of period		9,028,427		$	0.86		10,328,925		$	0.82

Stock options outstanding by price range

Stock options outstanding at March 31, 2016 are as follows:

Range of Exercise Prices		Options Outstanding		Weighted Average Remaining Contractual Life		Weighted Average Exercise Price		Options Exercisable
$	0.01 - $1.50		7,396,093		3.0	$	0.65		7,396,093
$	1.51 - $3.00		1,507,334		2.3	$	1.67		1,507,334
$	3.01 - $5.00		125,000		2.1	$	3.11		125,000
			9,028,427		2.8	$	0.86		9,028,427

Summary of warrant activity

SUMMARY OF WARRANTS

	3/31/2016				12/31/2015
	Number of Warrants		Weighted  Average Exercise Price		Number of Warrants			Weighted Average Exercise Price
Outstanding at beginning of year		50,957,780	$	0.52		16,446,351		$	1.44
Granted		1,400,000	$	0.64		87,825,204		$	0.42
Exercised		-	$	-		(53,095,204	)	$	0.66
Cashless Exercises		-	$	-		-			-
Expired and Cancelled						(218,571	)	$	0.66
		52,357,780	$	0.52		50,957,780		$	0.52
Outstanding, end of period		52,357,780	$	0.52		50,957,780		$	0.52
Exercisable at end of period		52,357,780	$	0.52		50,957,780		$	0.52