XML 43 R32.htm IDEA: XBRL DOCUMENT

STOCKHOLDERS' EQUITY (Tables)

12 Months Ended

Dec. 31, 2015

Equity [Abstract]

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]


Exercise price	$	0.60 – 3.75
Stock price on date of grant	$	0.55 -- 3.75
Volatility		151 – 169 %
Risk-free interest rate		0.9 – 2.5 %
Expected life (years)		3.0 – 10.0
Dividend yield		--


		Year ended December 31,
		2015		2014
Exercise price	$	0.60 – 3.75	$	4.40
Stock price, date of valuation	$	0.52 – 0.89	$	1.20
Volatility		150 – 157 %		134 %
Risk-free interest rate		1.1 – 1.3 %		0.6 %
Expected life (years)		2.0 – 3.0		2.0
Dividend yield		--		--

The following summarizes the Black-Scholes assumptions used for IPG Warrants:


Volatility		134 %
Risk-free interest rate		1.0 %
Expected life (years)		3.0
Dividend yield		--


		Year ended December 31,
		2015		2014
Volatility		125 – 132 %		129 – 171 %
Risk-free interest rate		0.4 – 0.5 %		0.6 – 1.8 %
Expected option life (years)		1.5		2.0 – 4.8
Dividend yield		--		--

Schedule of Assumptions Used [Table Text Block]

The following summarizes Employee Awards activity:


		Number of Shares		Weighted-average Exercise Price per Share		Weighted-average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2014		--
Granted		2,662,000		$ 1.54		3.1
Forfeited		(153,000)		2.39
Outstanding at December 31, 2015		2,509,000		1.49		3.1		$ --

Exercisable at December 31, 2015		347,500		$ 2.57		3.5		$ --

The following summarizes Consulting Awards activity:


		Number of Shares		Weighted-average Exercise Price per Share		Weighted-average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2013		--					$	--
Granted		150,000	$	4.40		2.0
Outstanding at December 31, 2014		150,000		4.40		0.9		--
Granted		127,500		2.40		2.2
Forfeited		(25,000)		2.10
Outstanding at December 31, 2015		252,500		3.62		1.4		--

Exercisable at December 31, 2015		175,000	$	4.07		1.2		--

Schedule of Stock Options Roll Forward [Table Text Block]

The following summarizes warrants issued with debt activity:


		Number of Shares		Weighted-average Exercise Price per Share		Weighted-average Remaining Contractual Term (in years)		Aggregate Intrinsic Value
Outstanding at December 31, 2013		10,600	$	5.00		4.8	$	4,982
Granted		632,100		4.43		2.1		--
Outstanding at December 31, 2014		642.700		4.44		1.9		--
Granted		554,500		1.13		1.7		--
Cancelled		(600,000)		4.40				--
Outstanding at December 31, 2015		597,200		1.41		1.0		--

Exercisable at December 31, 2015		597,200	$	1.41		1.0		--

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.

+ References + Details