SUBSEQUENT EVENTS |
3 Months Ended | ||||
|---|---|---|---|---|---|
Mar. 31, 2016 | |||||
| Subsequent Events [Abstract] | |||||
| Subsequent Events [Text Block] |
On April 5, 2016 the Company entered into an amendment agreement to its existing credit facility with Lateral, amending the original credit agreement signed October 28, 2015. The agreement amends select provisions of the original credit agreement, including equity raises and changes to certain financial and operational covenants. This amendment was agreed upon and entered into as a mutually beneficial process for both the Company and Lateral. On April 7, 2016, the Company issued 200,000 shares of its common stock with a grant date value of $2,000 to several employees under the terms of their employment agreements. On April 7, 2016, the Company issued 12,000 shares of its Preferred Series F stock to its independent directors and two officers with a grant date value of $7,920. On April 22, 2016, the Company issued 6,000,000 shares of its common stock with a grant date value of $300,000 to a vendor in settlement of accounts payable. On April 26, 2016, the Company issued 3,559,706 shares of its common stock with a grant date value of $177,985 to a vendor in settlement of accounts payable. On May 10, 2016, the Company issued 232,352 shares of Preferred Series F stock to an investor for funds of approximately $600,000 as of May 10, 2016. |