EQUITY TRANSACTIONS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2016

Dec. 31, 2015

Equity Transactions Tables

Stock Option Activity

The following is a summary of stock option activity at March 31, 2016:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Term (Years)		Aggregate Intrinsic Value
Outstanding at 12/31/2015		380,000	$	3.95		9.1	$	—
Granted		214,900	$	0.95		9.8	$	—
Exercised		—		—		—	$	—
Cancelled		—		—		—	$	—
Outstanding at 3/31/2016		594,900	$	2.87		9.2	$	—
Exercisable at 3/31/2016		209,975	$	3.28		9.2	$	—

The following is a summary of stock option activity for 2014 and 2015:

	Shares		Weighted Average Exercise Price		Weighted Average Remaining Term (Years)		Aggregate Intrinsic Value
Outstanding at 12/31/2013		60,000	$	2.50		9.8	$	—
Exercisable at 12/31/2013		15,000	$	2.50		9.8	$	—
Granted		—		—		—	$	—
Exercised		—		—		—		—
Cancelled		—		—		—		—
Outstanding at 12/31/2014		60,000	$	2.50		8.8	$	—
Exercisable at 12/31/2014		30,000	$	2.50		8.8	$	—
Granted		320,000	$	4.22		9.3	$	—
Exercised		—		—		—		—
Cancelled		—		—		—		—
Outstanding at 12/31/2015		380,000	$	3.95		9.1	$	—
Exercisable at 12/31/2015		125,000	$	3.95		9.1	$	—

Significant assumptions used to estimate the fair value of the equity awards

The significant assumptions used to estimate the fair value of the equity awards granted are;

Grant date		January 6, 2016
Weighted Fair value of options granted		$     0.67
Expected term (years)		6
Risk-free interest rate		1.82%
Volatility		83%
Dividend yield	None