Quarterly report pursuant to Section 13 or 15(d)

Note 4 - Stock Options and Warrants

Note 4 - Stock Options and Warrants

3 Months Ended

Mar. 31, 2016

Stock Options

Following is a summary of the stock option activity:

	Options Outstanding		Weighted Average Exercise Price
Outstanding as of December 31, 2015		374,800	$	4.88
Granted		-		-
Forfeited		-		-
Exercised		-		-
Outstanding as of March 31, 2016		374,800	$	4.88

Warrants

Following is a summary of the warrant activity:

	Warrants Outstanding		Weighted Average Exercise Price
Outstanding as of December 31, 2015		12,525,721	$	1.25
Granted		668,800		1.25
Forfeited		-		-
Exercised		(12,427,040)		1.25
Outstanding as of March 31, 2016		767,481	$	1.25

- Definition

The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details.

+ References + Details