NET LOSS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2015

Noncontrolling Interest [Abstract]

Reconciliation of the denominators used in the computation

The following table presents a reconciliation of the denominators used in the computation of net loss per share – basic and diluted:

		Year ended December 31,
		2015		2014
Net loss	$	(8,786,277)	$	(6,930,139)
Weighted average outstanding shares of common stock		14,017,095		13,462,396
Dilutive effect of stock options and warrants		--		--
Common stock and equivalents		14,017,095		13,462,396
Net loss per share – Basic and diluted	$	(0.63)	$	(0.51)

Dilutive effect on earnings per share

Outstanding stock options and common stock warrants are considered anti-dilutive because we are in a net loss position.  The following summarizes equity instruments that may, in the future, have a dilutive effect on earnings per share:

	December 31,
	2015	2014
Common stock upon conversion of debt	31,661	330,000
Stock options	2,509,000	--
Warrants	1,822,700	3,165,700
Stock payable	630,000	350,000
	4,993,361	3,845,700