NOTE 9 - STOCKHOLDERS' EQUITY

9 Months Ended

Sep. 30, 2016

Stockholders' Equity Note [Abstract]

Stockholders' Equity Note Disclosure [Text Block]

NOTE 9 — STOCKHOLDERS’ EQUITY

Common stock

During the nine months ended September 30, 2016, the Company issued an aggregate of 26,060,886 shares of its common stock for the conversion of $404,831 of promissory notes payable and related accrued interest. Upon conversion of the notes, the Company recorded an adjustment to the derivative liability in the amount of $540,587 (see Note 12).

During the nine months ended September 30, 2016, the Company purchased 10,250 shares of the Company’s common stock in the open market at an average cost of $0.76 per share.

During the nine months ended September 30, 2016, the Company returned and canceled 95,461 shares of the Company’s common stock previously purchased (treasury shares)  at an average cost of $2.41 per share.