Annual report pursuant to Section 13 and 15(d)

Note 4 - Significant and Critical Accounting Policies and Practices (Tables)

v3.5.0.2
Note 4 - Significant and Critical Accounting Policies and Practices (Tables)
12 Months Ended
Dec. 31, 2015
Note 4 - Significant and Critical Accounting Policies and Practices (Tables) [Line Items]  
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] The following is the computation of (loss) income per share applicable to common stockholders for the periods indicated:

 
 
For the Years Ended
 
 
 
December 31, 2015
(Audited)
   
December 31, 2014
(Audited)
 
 
           
Net loss
 
$
( 17,111,290
)
 
$
470,565
 
Basic and diluted (loss) income per share
 
$
(0. 22
)
 
$
0.01
 
 
               
Weighted average common outstanding:
               
Basic
   
78,227,127
     
48,500,156
 
Diluted
   
78,227,127
     
48,668,720
 
 
               
Potentially dilutive securities (1)
               
Outstanding stock options
   
1,116,000
     
-
 
Common stock warrants
   
189,806
     
290,394
 
Convertible preferred stock as converted to common shares
   
1,904,762
     
-
 
(1) The impact of potentially dilutive securities on earnings per share is anti-dilutive in a period of net loss.
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block] The valuation of the derivative liability at issuance and as of December 31, 2015, was based on the following Monte Carlo inputs:

   
August 10,
2015
   
December 31,
2015
 
Preferred A shares
   
1,088
     
1,088
 
Total consideration without discount
 
$
10,880,000
   
$
10,880,000
 
Price per share
 
$
5.25
   
$
5.25
 
Stock price on valuation date
 
$
5.10
   
$
1.01
 
Shares outstanding as of measurement date
   
78,247,864
     
78,247,864
 
Warrants and options outstanding as of measurement date
   
1,440,852
     
1,440,852
 
Fully diluted shares outstanding as of measurement date
   
79,688,716
     
79,688,716
 
Maximum allowed shares
   
7,960,903
     
70,311,284
 
Expiration date
 
August 10, 2022
   
August 10, 2022
 
Risk-free rate
   
1.13
%
   
1.85
%
Remaining term (in years)
   
7.00
     
5.58
 
Rounded annual volatility
   
50
%
   
50
%
Trials
   
100,000
     
100,000
 
Estimated Useful Lives [Member]  
Note 4 - Significant and Critical Accounting Policies and Practices (Tables) [Line Items]  
Property, Plant and Equipment [Table Text Block] Depreciation of property and equipment is computed by the straight-line method (after taking into account their respective estimated residual values) over the estimated useful lives of the respective assets as follows:

 
 
Estimated Useful Life (Years)
 
Machinery and Equipment
 
1 – 3
 
Furniture
 
4 – 5
 
Software
 
3