Stockholder's Equity (Tables)

6 Months Ended

Jun. 30, 2016

Equity [Abstract]

Schedule of balance of stockholder's equity

	Convertible Series A Preferred Stock				Common Stock				Paid-in		Accumulated			Total Stockholders'
	Shares		Amount		Shares		Amount		Capital		Deficit			(Deficit) Equity
Balance, December 31, 2015		-	$	-		46,195,000	$	4,620	$	6,493,518	$	(7,561,751	)	$	(1,063,613	)
Issuance of common stock with detachable warrants		-		-		40,000,000		4,000		1,996,000		-			2,000,000
Issuance of common stock for services rendered		-		-		330,000		33		89,068		-			89,101
Issuance of Series A convertible Preferred stock, net of issuance cost of $35,920 with detachable warrants		972		756,835		-		-		179,145		-			935,980
Stock-based compensation		-		-		201,000		20		157,388		-			157,408
Issuance of common stock for note payable		-		-		6,877,452		688		195,642		-			196,330
Issuance of detachable warrants on notes payable		-		-		-		-		65,772		-			65,772
Issuance of common stock for Series A preferred dividend		-		-		256,038		26		17,733		(17,759	)
Beneficial conversion feature of convertible debt		-		-		-		-		228,550		-			228,550
Net loss		-		-		-		-		-		(2,324,179	)		(2,324,179	)
Balance, June 30, 2016		972	$	756,835		93,859,490	$	9,386	$	9,422,816	$	(9,903,689	)	$	285,348

Schedule of issuance of convertible preferred stock

The holders of Series A Preferred shall vote separately a class to change any of the rights, preferences and privileges of the Series A Preferred.

Shares

Number of shares

Shares

Issued and

Net

Conversion

of common stock

Liquidation

Liquidation

Authorized

Outstanding

Proceeds

Price/Share

Equivalents

Preference

Value/Share

Series A

3,000

972

$

935,980

$

0.075

12,960,000

$

2,430,000

$

2,500

Schedule of stock option activity

A summary of all stock option activity at and for the six months ended June 30, 2016 is presented below:

	# of Options			Weighted- Average Exercise Price
Outstanding at December 31, 2015		2,200,000	(1)	$	0.64
Options granted		-			-
Options exercised		-			-
Options canceled		(125,000	)		1.75
Outstanding at June 30, 2016		2,075,000		$	0.58
Exercisable at June 30, 2016		1,109,375		$	0.54

(1) 1,200,000 options granted under 2015 Stock Incentive Plan (of which 125,000 options were cancelled in the six months ended June 30, 2016); 1,000,000 non-plan options were granted.

Schedule of option Black-Scholes option-pricing model assumptions

The following weighted-average assumptions were used in the Black-Scholes valuation model for options granted during the year ended December 31, 2015:

Risk-free interest rate	0.84	%
Expected term (in years)	2.46
Dividend yield	-
Expected volatility	74	%

Schedule of warrants Black-Scholes option-pricing model assumption

The estimated fair value of the warrants at issuance was $1,914,916, based on the Black-Scholes option-pricing model using the weighted-average assumptions below:

Volatility		75	%
Risk-free interest rate		93.00	%
Expected term (in years)		3
Expected dividend yield		-	%
Fair value of common stock	$	5,513,830

Schedule of warrants activity

A summary of activity in options and warrants is as follows:

	Warrants		Weighted Average Remaining Life		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at December 31, 2015		—		—	$	—	$	—
Three months ended June 30, 2016:
Granted		55,138,304		3 years	$	0.10	$	0
Exercised		-
Forfeited and cancelled		-		-		-		-
Outstanding at June 30, 2016		55,138,304		3 years	$	0.10	$	0