Annual report pursuant to Section 13 and 15(d)

NOTE 14 - COMMON STOCK PURCHASE WARRANTS

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NOTE 14 - COMMON STOCK PURCHASE WARRANTS
 12 Months Ended
Dec. 31, 2015
Other Liabilities Disclosure [Abstract]  
NOTE 14 - COMMON STOCK PURCHASE WARRANTS AND OPTIONS

NOTE 14 – COMMON STOCK PURCHASE WARRANTS

 

Warrants

 

The following is a summary of activity for warrants to purchase common stock for the year ended December 31, 2015:

 

    December 31, 2015  
    Number of Warrants    

Weighted

Avg.

Exercise

Price

     Remaining Contractual Life (Years)  
Assumed in merger on April 1, 2015     82,875     $ 4.73       1.6  
Warrants issued with debt or debt modifications     585,715     $ .29       4.6  
Warrants exchanged for common stock     (54,000 )   $ 3.70          
Expired     (5,250 )   $ 6.67          
Outstanding at end of period     609,340     $ .54       4.5  
Exercisable at end of period     609,340     $ .54       4.5  

 

There was no intrinsic value of these warrants at December 31, 2015.

 

During 2015, warrants for 501,201 common shares were issued for debt extension, warrants for 28,571 common shares were issued with debt and warrants for 55,943 common shares were issued with debt.

 

In 2015 through December 31, 2015, 54,000 warrants were exchanged for 34,350 common shares resulting in a loss on settlement of $3,082 charged to operations.

 

In 2015 through December 31, 2015, 5,250 warrants expired.