Note 15 - Stockholder's Equity |
12 Months Ended | |||||||||||||||
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Dec. 31, 2016 | ||||||||||||||||
| Stockholders' Equity Note [Abstract] | ||||||||||||||||
| Stockholders' Equity Note Disclosure [Text Block] | Note 15 – Stockholder’s Equity Common Stock During the year ended December 31, 2016, the Company issued 23,809,770 (2,380,977 post-reverse split) shares of common stock and received or credited gross proceeds of $854,342, net of direct offering expenses. Of such shares, 198,737,390 (19,873,739 post-reverse split) shares were issued upon conversion of the six notes referred to in Note 14 above. The legal and administrative expense of offerings totaled $126,315. The net proceeds in the amount of $728,027 were used for working capital, corporate expenses, legal fees, prepaid expenses and public company expenses. The Company recorded equity in the amount of $424,878 gain on sale of the six convertible debt notes and $464,739 on the two Blackbridge notes for derivatives valuations incurred in 2016. Earnings (loss) per share calculation Basic net loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed by dividing net loss by the weighted average number of shares of common stock and potentially outstanding shares of common stock during each period The computation of basic and diluted loss per share at December 31, 2016 excludes the common stock equivalents from convertible debt of the following potentially dilutive securities because their inclusion would be anti-dilutive and the share issue number is not calculable until conversion takes place.
From October 7, 2016 through December 31, 2016, the Company issued an aggregate of 198,727,390 pre-split (19,872,739 post split) shares of its common stock upon conversions of six different convertible notes at conversion prices ranging from $0.0015 to $0.0047 per share. As a result of such issuances, all six [6] of the notes have paid in full as of that date. The Company recorded $424,878 for the equity infusion provided by these notes. |
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