Common Stock Options And Warrants

9 Months Ended

Sep. 30, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Common Stock Options And Warrants

NOTE 7: COMMON STOCK OPTIONS AND WARRANTS

Common Stock Options

The Company recognizes in the financial statements compensation related to all stock-based awards, including stock options and warrants, based on their estimated grant-date fair value. The Company has estimated expected forfeitures and is recognizing compensation expense only for those awards expected to vest. All compensation is recognized by the time the award vests.

The following schedule summarizes the changes in the Company’s stock options:

						Weighted				Weighted
	Options Outstanding					Average				Average
	Number			Exercise		Remaining		Aggregate		Exercise
	Of			Price		Contractual		Intrinsic		Price
	Shares			Per Share		Life		Value		Per Share
Balance at December 31, 2015		51,350		$	12.00-15.00		7.12 years	$	-	$	15.00
Options granted		2,370,000		$	0.50-1.00		-		-	$	.60
Options expired		(18,850	)	$	15.00		-		-	$	15.00
Balance at September 30, 2016		2,402,500		$	0.50-15.00		4.31 years		-	$	0.80
Exercisable at September 30, 2016		1,859,664		$	0.50-15.00		4.18 years	$	-	$	0.90

Common Stock Warrants

The following schedule summarizes the changes in the Company’s stock warrants:

						Weighted				Weighted
	Warrants Outstanding					Average				Average
	Number			Exercise		Remaining		Aggregate		Exercise
	Of			Price		Contractual		Intrinsic		Price
	Shares			Per Share		Life		Value		Per Share
Balance at December 31, 2015		6,801,003			0.10-10.00		1.9 years	$	2,052,699	$	0.81
Warrants granted		200,000			$0.40-0.10		-		-	$	0.40
Warrants expired/cancelled		(3,454,831	)		0.011-6.00		-		-	$	.13
Balance at September 30, 2016		3,546,171			0.10-10.00		0.77 years	$	2,700	$	4.49
Exercisable at September 30, 2016		3,546,171			0.10-10.00		0.77 years	$	2,700	$	4.49