Note 3 - Stockholders' Equity |
6 Months Ended |
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Jun. 30, 2017 | |
Equity [Abstract] | |
Note 3 - Stockholders' Equity |
Common Stock
During the six months ended June 30, 2017 the Registrant has issued a total of 418,448 shares of common stock to a total of eleven entities or individuals in exchange for the cancellation of debt in the total amount of $2,025,000 and interest in the total amount of $486,000.
The Registrant also issued 1,944 shares of common stock to one entity upon the exercise of warrants on a cashless basis.
Preferred Stock
On January 8, 2016, the Company entered into an Exchange Agreement with certain investors together holding 25,000 shares of Series H Preferred Stock and 1,666,667 shares of Series I Preferred Stock have agreed to convert all such shares of Preferred Stock into an aggregate of 4.9% of the fully diluted shares of Common Stock upon successful completion by the Company of a $6 million financing.
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