STOCKHOLDERS' EQUITY (Tables)

6 Months Ended

12 Months Ended

Jun. 30, 2016

Dec. 31, 2015

Summary of All Outstanding Warrants to Purchase Shares of Common Stock

Below is a table that summarizes all outstanding warrants to purchase shares of the Company’s common stock as of June 30, 2016:

Grant Date	Warrants Issued		Exercise Price		Weighted Average Exercise Price		Expiration Date	Exercised		Warrants Outstanding
11/26/2012		15,569,787	$	1.36	$	1.36	11/26/2017		-		15,569,787
11/26/2012		261,250	$	2.64	$	2.64	11/26/2017		-		261,250
12/18/2012		2,637,486	$	1.36	$	1.36	12/18/2017		-		2,637,486
12/18/2012		22,500	$	2.64	$	2.64	12/18/2017		-		22,500
10/29/2013		4,455,231	$	0.01	$	0.01	10/29/2018		-		4,455,231
10/29/2013		24,053,398	$	2.14	$	2.14	10/29/2018		-		24,053,398
10/29/2013		65,650	$	2.64	$	2.64	10/29/2018		-		65,650
		47,065,302			$	1.64			-		47,065,302

Below is a table that summarizes all outstanding warrants to purchase shares of the Company’s common stock as of December 31, 2015.

					Weighted
					Average
	Warrants		Exercise		Exercise		Expiration			Warrants
Grant Date	Issued		Price		Price		Date	Exercised		Outstanding
11/26/2012		8,822,887	$	2.40	$	2.40	11/26/2017		-		8,822,887
11/26/2012		261,250	$	2.64	$	2.64	11/26/2017		-		261,250
12/18/2012		1,494,577	$	2.40	$	2.40	12/18/2017		-		1,494,577
12/18/2012		22,500	$	2.64	$	2.64	12/18/2017		-		22,500
10/29/2013		4,455,231	$	0.01	$	0.01	10/29/2018		-		4,455,231
10/29/2013		12,868,585	$	4.00	$	4.00	10/29/2018		-		12,868,585
10/29/2013		65,650	$	2.64	$	2.64	10/29/2018		-		65,650
		27,990,680			$	2.76			-		27,990,680

- 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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