v3.7.0.1

Note 14 - Convertible Debt and Derivative Liabilities on Other Notes (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure Text Block [Abstract]

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The Company determined that the conversion feature embedded within the two Blackbridge notes is a financial derivative. The Generally Accepted Accounting Principles (GAAP) required that the Company’s embedded conversion option be accounted for at fair value. The following schedule shows the change in fair value of the derivative liabilities by December 31, 2016:

Description		Amount
Purchase price of the two convertible debentures		$	250,000
Discount on notes during 2016			(209,589	)
Balance of derivative liability net of discount on the two notes (See Consolidated Balance sheet liabilities)		$	40,411
Initial derivative valuation for the two Blackbridge notes		$	591,952
Fair value mark to market adjustment for derivatives			(194,230	)
Balance of valuation of derivative liability at December 31, 2016		$	397,722
Derivative calculations and presentations on the Statement of Operations
Loss on note issuance		$	540,634
Change in Derivative(Gain) Loss			193,160
Finance fees			272,360
Derivative valuation and expense charged to operations in 2016 (See Consolidated Statement of Operations)		$	1,006,154

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- References

No definition available.

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X

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258

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