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7. STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2017

Statement of Stockholders' Equity [Abstract]

Summary of stock options outstanding

		March 31, 2017 (Unaudited)								December 31, 2016
		Number of Options				Weighted Average Exercise Price				Number of Options				Weighted Average Exercise Price
Outstanding, beginning of period			200,000			$	0.76				100,000			$	0.96
Granted			—				—				100,000				0.55
Exercised			—				—				—				—
Outstanding, end of period			200,000			$	0.76				200,000			$	0.76

Options outstanding and exercisable by price range

	Outstanding Options												Exercisable Options
	Range					Number				Average Weighted Remaining Contractual Life in Years				Number				Weighted Average Exercise Price

$	2.10					40,000				2.76				40,000			$	2.10
$	0.05					20,000				3.77				20,000			$	0.05
$	0.27					40,000				7.76				40,000			$	0.27
$	0.55					100,000				8.85				100,000			$	0.55
						200,000				6.91				200,000			$	0.76

Summary of stock warrants outstanding

		March 31, 2017 (Unaudited)								December 31, 2016
		Number of Warrants				Weighted Average Exercise Price				Number of Warrants				Weighted Average Exercise Price
Outstanding, beginning of period			36,701,413			$	0.31				35,676,413			$	0.30
Granted			883,332				0.69				1,400,000				0.42
Expired			—				—				(375,000	)			0.05
Outstanding, end of period			37,584,745			$	0.32				36,701,413			$	0.31

Warrants outstanding and exercisable by price range

	Outstanding Warrants												Exercisable Warrants
	Range				Number				Average Weighted Remaining Contractual Life in Years				Number				Weighted Average Exercise Price
	$	0.01				1,575,000				0.28				1,575,000			$	0.01
	$	0.05				600,000				0.75				600,000			$	0.05
	$	0.15				7,750,000				0.55				7,750,000			$	0.15
	$	0.26				100,000				1.24				100,000			$	0.26
	$	0.27				250,000				4.75				250,000			$	0.27
	$	0.29				10,125,613				3.56				10,125,613			$	0.29
	$	0.30				11,925,800				1.50				11,925,800			$	0.30
	$	0.32				250,000				4.50				250,000			$	0.32
	$	0.33				75,000				1.50				75,000			$	0.33
	$	0.42				250,000				4.25				250,000			$	0.42
	$	0.50				625,000				3.68				425,000			$	0.50
	$	0.55				100,000				3.83				100,000			$	0.55
	$	0.62				75,000				1.30				75,000			$	0.62
	$	0.69				883,332				2.96				883,332			$	0.69
	$	1.00				3,000,000				3.09				3,000,000			$	1.00
						37,584,745				2.17				37,384,745			$	0.32

Unvested warrants outstanding

	Unvested Warrants
	Weighted Average Exercise Price				Number				Average Weighted Remaining Contractual Life in Years
	$	0.50				200,000				5.00

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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