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WARRANTS

6 Months Ended

Jun. 30, 2015

Warrants and Rights Note Disclosure [Abstract]

NOTE 7 — WARRANTS

As described in Note 6, in 2014, the Company issued seven-year warrants (“the Warrants”) to investors for the purchase of 418,321 shares of the Company’s common stock at an exercise price of $9.30 per share.

The Company analyzed the Warrants in accordance with ASC Topic 815 to determine whether the Warrants meet the definition of a derivative and, if so, whether the Warrants meet the scope exception that provides for equity classification of derivative instruments issued or held by the reporting entity that are both (1) indexed to its own stock and (2) classified in stockholders’ equity. The Company concluded these Warrants should be classified as equity since they contain no provisions, which would require recognition as a liability.

The following represents a summary of the warrants outstanding at June 30, 2015 and changes during the period then ended:

						Weighted Average
		Warrants				Exercise Price
Outstanding at December 31, 2014			418,321			$	9.30
Granted			-				-
Exercised/Expired/ Forfeited			-				-
Outstanding at June 30, 2015			418,321			$	9.30
Exercisable at June 30, 2015			418,321			$	9.30