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14 WARRANTS | 12 Months Ended
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Dec. 31, 2016
Temporary Equity Disclosure [Abstract] |
WARRANTS | Below is a table summarizing the Company's outstanding warrants for the year ended December 31, 2016:
|  | Number of Shares |  | Weighted Avg. Exercise Price |  | Weighted Avg. Remaining Term |  | Intrinsic Value
Outstanding at December 31, 2015 |  |  | 2,777,777 |  |  |  | 1.80 |  |  |  | 4.41 |  |  | $ | 13,333,330 |
Granted |  |  | 1,000,000 |  |  |  | 6.00 |  |  |  | - |  |  |  | - |
Exercised |  |  | 1,111,111 |  |  |  | 1.80 |  |  |  | - |  |  |  | - |
Outstanding at December 31, 2016 |  |  | 2,666,666 |  |  |  | 1.80 |  |  |  | 3.90 |  |  | $ | 15,444,440 |
For the year ended December 31, 2016 and December 31, 2015, the Company incurred no warrants based expense.

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- Definition Tabular disclosure of temporary equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. If convertible, the issuer does not control the actions or events necessary to issue the maximum number of shares that could be required to be delivered under the conversion option if the holder exercises the option to convert the stock to another class of equity. If the security is a warrant or a rights issue, the warrant or rights issue is considered to be temporary equity if the issuer cannot demonstrate that it would be able to deliver upon the exercise of the option by the holder in all cases. Includes stock with put option held by ESOP and stock redeemable by holder only in the event of a change in control of the issuer. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 480 -SubTopic 10 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=65877616&loc=d3e177068-122764 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (27) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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