Quarterly report pursuant to Section 13 or 15(d)

STOCKHOLDERS' EQUITY (Tables)

v3.4.0.3
STOCKHOLDERS' EQUITY (Tables)
 3 Months Ended
Mar. 31, 2016
Class of Stock [Line Items]  
Dividends Preferred Stock [Table Text Block]
Dividend charges recorded during the three months ended March 31, 2016 and 2015 are as follows:
 
 
 
For the Three Months Ended
 
 
 
March 31,
 
 
 
2016
 
2015
 
 
 
 
 
 
 
Series
 
 
 
 
 
 
 
A
 
$
12,510
 
 
12,510
 
A-1
 
 
7,380
 
 
7,381
 
B
 
 
-
 
 
-
 
C-1
 
 
-
 
 
-
 
C-2
 
 
-
 
 
-
 
C-3
 
 
-
 
 
-
 
Total
 
$
19,890
 
$
19,891
 
Schedule of Accrued Liabilities [Table Text Block]
Accrued dividends payable at March 31, 2016 and December 31, 2015 are comprised of the following:
 
 
 
 
 
December
 
 
 
March 31,
 
31,
 
 
 
2016
 
2015
 
Series
 
 
 
 
 
 
 
A
 
$
272,156
 
$
259,646
 
A-1
 
 
198,867
 
 
191,487
 
B
 
 
-
 
 
-
 
C-1
 
 
-
 
 
-
 
C-2
 
 
-
 
 
-
 
C-3
 
 
-
 
 
-
 
Total
 
$
471,023
 
$
451,133
 
Warrant [Member]  
Class of Stock [Line Items]  
Schedule of Share-based Compensation, Activity [Table Text Block]
A summary of the warrant activity during the three months ended March 31, 2016 is presented below:
   
 
 
 
 
Weighted
 
Weighted
 
 
 
 
 
 
 
Average
 
Average
 
 
 
 
 
Number of
 
Exercise
 
Remaining
 
Intrinsic
 
 
 
Warrants
 
Price
 
Life in Years
 
Value
 
Outstanding, December 31, 2015
 
 
437,335
 
$
0.60
 
 
 
 
 
 
 
Issued
 
 
-
 
 
-
 
 
 
 
 
 
 
Exercised
 
 
-
 
 
-
 
 
 
 
 
 
 
Expired
 
 
(437,335)
 
 
0.60
 
 
 
 
 
 
 
Outstanding, March 31, 2016
 
 
-
 
$
-
 
 
-
 
$
-
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Exercisable, March 31, 2016
 
 
-
 
$
0.00
 
 
0.00
 
 
-