NOTES PAYABLE (Tables)

9 Months Ended

Sep. 30, 2019

Debt Disclosure [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Our notes payable consisted of the following:

		September 30,		December 31
		2019		2018
2019 12% Notes	$	1,506,000	$	–
8.5% Notes		–		6,849,000
SBI Note		855,000		–
Unamortized debt discount		(110,406)		(1,575,094)
		2,250,594		5,273,906
Less: Current portion		(2,250,594)		(5,273,906)
Long-term portion	$	–	$	–

Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

For purposes of determining the loss on extinguishment of debt and the debt discount, the underlying assumptions used in the Black-Scholes model to determine the fair value of the 2019 12% Warrants were:

Current stock price	$  0.82 - 0.92
Exercise price	$  1.30
Risk-free interest rate	1.63 - 1.68 %
Expected dividend yield	–
Expected term (in years)	1.10
Expected volatility	124 %

Current stock price	$  4.18
Exercise price	$  2.35
Risk-free interest rate	2.46 %
Expected dividend yield	–
Expected term (in years)	2.0
Expected volatility	134 %
Number of iterations	5