NOTE 2 -GOING CONCERN AND MANAGEMENT'S LIQUIDITY PLANS

6 Months Ended

Jun. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Substantial Doubt about Going Concern [Text Block]

NOTE 2 –GOING CONCERN AND MANAGEMENT’S LIQUIDITY PLANS

As of June 30, 2017, the Company had cash of $31,247 and working capital deficit (current liabilities in excess of current assets) of $666,591. During the six months ended June 30, 2017, the Company used net cash in operating activities of $5,204,069.  These conditions raise substantial doubt about the Company’s ability to continue as a going concern.

In the first half of 2017, the Company received $4,723,197 from the exercise of common stock warrants and $35,000 in common stock subscriptions.  Subsequent to these financial statements, on July 21, 2017, the Company sold an aggregate of 2,434,000 shares of its common stock and issued 2,434,000 warrants at an exercise price of $0.65 per share for five years for aggregate gross proceeds of $1,217,000. It is anticipated that the proceeds from the common stock and warrant sale will provide the Company with cash sufficient to fund operations through September 2017. (See Subsequent Events-Note 11) 

The Company's primary source of operating funds since inception has been cash proceeds from private placements of common stock, proceeds from the exercise of warrants and options and issuance of notes payable. The Company has experienced net losses and negative cash flows from operations since inception and expects these conditions to continue for the foreseeable future. The Company will require additional financing to fund future operations.

Management’s plans with regard to these matters encompass the following actions: 1) obtain funding from new and potentially current investors to alleviate the Company’s working deficiency, and 2) implement a plan to generate sales. The Company’s continued existence is dependent upon its ability to translate its user base into sales. However, the outcome of management’s plans cannot be ascertained with any degree of certainty.

Accordingly, the accompanying unaudited condensed interim financial statements have been prepared in conformity with U.S. GAAP, which contemplates continuation of the Company as a going concern and the realization of assets and satisfaction of liabilities in the normal course of business. The carrying amounts of assets and liabilities presented in the financial statements do not necessarily purport to represent realizable or settlement values. The unaudited condensed interim financial statements do not include any adjustment that might result from the outcome of this uncertainty.