Securities Transactions

12 Months Ended

Dec. 31, 2016

Securities Financing Transactions [Abstract]

Securities Transactions

Securities Transactions

(a) During 2016, the Company issued an aggregate of 86,404 shares of restricted common stock, par value $.01, valued and recorded in the aggregate at $38,000 for advisory and consulting services.

(b) During 2016, the Company issued an aggregate of 1,157,653 shares of restricted common stock, par value $.01, valued and recorded in the aggregate at $696,000 and classified as interest expense – related party pursuant to a guaranty made in connection with a financing. See also Note 11 (c) below for more information.

(c) During 2016, the Company issued 25,000 shares of common stock, par value $.01 per share, for a stock bonus to an executive officer, employee, which transaction was valued and recorded at $16,000.