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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2016
Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net loss $ (2,306,734) $ (2,002,136)
Adjustments to reconcile net loss to net cash used by operating activities    
Depreciation and amortization 21,976 24,573
Amortization of issuance costs and discounts on convertible notes 472,787 60,486
Accretion of interests related to convertible notes 149,424 0
Share-based compensation related to stock options 26,879 150,570
Fair value of warrants 22,576 0
Gain on accounts payable settlement (21,406) 0
Loss on debt extinguishment 995,735 0
Deferred issuance costs on convertible notes 0 11,946
Net loss on sale of trading securities 0 (7,986)
Change in unrealized loss on trading securities (881,555) 274,024
(Increase) decrease in:    
Prepaid expenses and other 81,030 20,897
Deferred issuance costs on convertible notes 93,399 0
Increase (decrease) in:    
Accounts payable 223,409 606,631
Deferred revenue 183,333 0
Accrued expenses and other 705,302 79,737
Net Cash Used by Operating Activities (233,845) (781,258)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Proceeds from sale of investments 0 35,970
Purchase of equipment (1,293) 0
Net Cash Provided by (Used in) Investing Activities (1,293) 35,970
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from issuance of convertible notes payable - short term 360,000 600,000
Notes payable issuance costs (7,400) (54,815)
Repayment of notes payable 0 (10,000)
Net Cash Provided by Financing Activities 352,600 535,185
Net change in Cash and Cash Equivalents 117,462 (210,103)
Cash and Cash Equivalents, Beginning of Period 290,847 252,145
Cash and Cash Equivalents, End of Period 408,309 42,042
Supplemental Cash Flow Disclosures:    
Interest expense paid in cash 0 0
Tax paid 1,662 0
Supplemental Non-Cash Disclosure:    
Series B Preferred Stock dividends 259,778 248,503
Series A Preferred Stock dividends 5,943 34,685
Accounts Payable settled in Common Stock 21,406 0
Conversion of Series A Preferred Stock dividend to Common Stock 46 4,329
Conversion of Series A Preferred Stock to Common Stock 10 180
Conversion of Convertible Notes 167,217 0
Fair value of embedded derivative liability in 2016 Convertible Notes 73,825 0
Fair value of embedded derivative liability in 2014 Convertible Notes $ 945,951 $ 0