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12. Stockholder's Equity
 3 Months Ended
Mar. 31, 2015
Equity [Abstract]  
Stockholder's Equity

Issuance of Common Stock for Cash

 

During the quarter ended March 31, 2014, shareholders exercised their rights to convert warrants into 125,000 shares common stock for $170,000.

 

Issuance of Common Stock for Payable to Board of Directors

 

During the quarter ended March 31, 2015, the Board of Directors was issued a total of 183,825 shares of common stock for $125,000 in director’s fees that were payable at December 31, 2014.  In addition during the quarter, the Company accrued $37,500 in directors fees payable that will be paid in common stock.

 

Issuance of Common Stock for Services

 

During the quarter ended March 31, 2015, 5,000 shares were issued to Bert Denton for services totaling $2,950.

 

Common Stock Warrants

 

The Company's Board of Directors has the authority to issue stock warrants for the purchase of preferred or unregistered common stock to directors and employees of the Company. No warrants were issued or exercised during the quarter ended March 31, 2015.

 

Transactions in common stock warrants are as follows:

 

    Number of Warrants     Exercise Prices  
Balance, December 31, 2012     1,934,667     $ .25 - $4.50  
Warrants issued     629,740     $ 1.20-$1.60  
   Warrants exercised     (25,000 )   $ 1.20  
   Warrants expired     (50,000 )   $ 4.50  
Balance, December 31, 2013     2,489,407     $ 0.25 - $4.50  
Warrants exercised     (310,625 )   $ 1.20-$1.60  
   Warrants expired     (1,415,865 )        
Balance, December 31, 2014     762,917     $ 0.25 - $4.50  
   No activity     -          
Balance, March 31, 2015     726,917     $ 0.25 - $4.50  
                 
The above common stock warrants expire as follows:          
Year ended December 31:                
2015     476,917     $ 4.50  
Thereafter     250,000     $ 0.25  
      726,917