Equity

3 Months Ended

Mar. 31, 2016

Notes to Financial Statements

Note 6 - Equity

Common Stock

On August 19, 2015, the stockholders voted to increase the number of authorized shares of common stock from 100,000,000 shares to 140,000,000 shares.

Common stock issuable on the condensed consolidated balance sheet represents common stock to be issued for either cash received or services performed. As of March 31, 2016 and December 31, 2015, the number of shares of common stock to be issued was 2,773,745 and 701,018 shares, respectively.

Common stock warrants issued with the sale of our common stock

When we sell shares of our common stock the buyer also typically receives fully-vested common stock warrants with a maximum contractual term of 3-5 years. A summary of common stock warrants issued with the sale of our common stock as of March 31, 2016, and changes during the period then ended is presented below:

	Number of Warrants			Weighted-average Exercise Price		Weighted-average Remaining Life (Years)	Aggregate Intrinsic Value
Outstanding, December 31, 2015		20,726,707		$	0.49
Granted		3,987,207			0.53
Forfeited or cancelled		(3,840,274	)		0.57
Outstanding, March 31, 2016		20,873,640			0.49	1.9	$	332,372
Exercisable, March 31, 2016		20,873,640			0.49	1.9	$	332,372

Included in the warrants granted and cancelled above are 3,729,164 warrants for which the life was extended by one year, for which we recorded expense of $660,000.