Stockholder's Deficit (Tables)

9 Months Ended

Sep. 30, 2016

Equity [Abstract]

Schedule of balance of stockholder's equity

	Convertible Series A													Total
	Preferred Stock				Common Stock				Paid-in		Accumulated			Stockholders’
	Shares		Amount		Shares		Amount		Capital		Deficit			Deficit
Balance, December 31, 2015		-	$	-		2,309,750	$	4,620	$	6,493,518	$	(7,561,751	)	$	(1,063,613	)
Issuance of common stock with detachable warrants		-		-		2,000,000	$	4,000		1,996,000		-		$	2,000,000
Issuance of common stock for services rendered		-		-		81,434	$	163		218,807		-		$	218,970
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		-		-		10,050	$	20		208,957		-		$	208,977
Issuance of common stock for note payable		-		-		343,873	$	688		195,642		-		$	196,330
Issuance of detachable warrants on notes payable		-		-		-	$	-		348,434		-		$	348,434
Issuance of common stock for Series A preferred dividend		-		-		12,802	$	26		17,733		(17,759	)	$	0
Issuance of cash for Series A preferred dividend		-		-		-	$	-		-		(19,600	)	$	(19,600	)
Beneficial conversion feature of convertible debt		-		-		-	$	-		228,550		-		$	228,550
Shares Issued for payoff of trade debt		-		-		8,750	$	18		19,194		-		$	19,212
Net loss		-		-		-		-		-		(3,760,629	)	$	(3,760,629	)
Balance, September 30, 2016		972	$	756,835		4,766,659	$	9,535	$	9,905,980	$	(11,359,739	)	$	(687,389	)

Schedule of issuance of convertible preferred stock

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

$

1.50

648,000

$

2,430,000

$

2,500

Schedule of stock option activity

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

	# of Options			Weighted- Average Exercise Price
Outstanding at December 31, 2015		110,000	(1)	$	12.80
Options granted		105,000			1.60
Options exercised		-			-
Options canceled		(6,250	)		35.00
Outstanding at September 30, 2016		208,750		$	6.60
Exercisable at September 30, 2016		68,281		$	11.40

(1) 60,000 options granted under 2015 Stock Incentive Plan (of which 6,250 options were cancelled in the nine months ended September 30, 2016); 50,000 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 nine months ended September 30, 2016:

Risk-free interest rate	0.92	%
Expected term (in years)	6.25
Dividend yield	-
Expected volatility	75	%

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 $282,662, based on the Black-Scholes option-pricing model using the weighted-average assumptions below:

Volatility		75	%
Risk-free interest rate		0.89	%
Expected term (in years)		3.0
Expected dividend yield		-
Fair value of common stock	$	1,050,000

Schedule of warrants activity

A summary of activity in warrants is as follows:

	Warrants		Weighted Average Remaining Life		Weighted Average Exercise Price		Aggregate Intrinsic Value
Outstanding at December 31, 2015		—		—	$	—	$	—
Nine months ended September 30, 2016:
Granted		3,281,915		2.74 years	$	2.00	$	0
Exercised		-
Forfeited and cancelled		-		-		-		-
Outstanding at September 30, 2016		3,281,915		2.74 years	$	2.00	$	0