STOCK OPTIONS AND WARRANTS (Tables)

12 Months Ended

Dec. 31, 2015

Issuance of common stock to founders, Shares

Summary warrant activity

A summary of the Company’s warrant activity for the years ended December 31, 2015 and 2014 is presented below:

	Warrants Outstanding			Weighted Average Exercise Price
Outstanding, December 31, 2013		12,590,467		$	0.55
Granted		4,022,936			0.30
Exercised		(179,633	)		0.25
Expired		(58,500	)		25.09
Outstanding, December 31, 2014		16,375,270		$	0.40
Granted		50,543,837			0.16
Exercised		—			—
Expired		—			—
Outstanding, December 31, 2015		66,919,107		$	0.18

As of December 31, 2015, t

Outstanding warrants to purchase its common stock

As of December 31, 2015, the Company had the following outstanding warrants to purchase shares of its Common Stock:

Warrants Outstanding		Weighted Average Exercise Price Per Share		Weighted Average Remaining Life (Yrs.)
	61,453	$	30.00		0.06
	63,098,264	$	0.15		4.13
	1,120,479	$	0.25		1.74
	1,474,435	$	0.38		1.53
	1,164,476	$	0.19		4.76
	66,919,107	$	0.18		4.04

Stock option activity

Stock option activity during the year ended December 31, 2015 is summarized as follows:

	Options Outstanding			Weighted Average Exercise Price
Options outstanding at December 31, 2014		12,379,593		$	0.37
Exercised		-			-
Granted		-			-
Forfeited		(12,379,593	)		0.37
Expired		-			-
Options outstanding at December 31, 2015		-		$	-