Common and Preferred Stock Reserved for Future Issuances:

3 Months Ended

Mar. 31, 2016

Common And Preferred Stock Reserved For Future Issuances [Abstract]

Common And Preferred Stock Reserved For Future Issuances [Text Block]

Note 10 – Common and Preferred Stock Reserved for Future Issuances:

Common stock reserved for future issuances consisted of the following at March 31, 2016:

	Common
	Stock
	Reserved
Common stock warrants outstanding		134,825,621
Common stock for potential anti-dilution of warrants		66,725,095
Common stock options outstanding		8,602,534
Conversion of Series B Stock		26,129,940
Common stock for potential anti-dilution of Series B Stock		13,064,970
Total		249,348,160

On February 9, 2015, the holders of placement agent warrants to purchase an aggregate of 1,325,000 shares of our Series A Stock entered into Conversion Agreements with us pursuant to which such holders’ placement agent warrants to purchase Series A Stock were converted, for no additional consideration, into common stock purchase warrants to purchase an aggregate of 1,325,000 shares of Common Stock.

Resulting from the Private Placement, the Company is required to reserve shares of its common stock to accommodate up to an additional 50% issuable upon potential dilution to the Series B Stock and all the Series A through E Warrants issued in the Private Placement plus the placement agent warrants issued as fees relating to the Private Placement.