Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY

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CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
Series A Preferred Stock [Member]
Series B Preferred Stock [Member]
Common Stock [Member]
Additional Paid-In Capital [Member]
Accumulated Deficit [Member]
Total
Beginning Balance, Shares at Dec. 31, 2013   55 125,035,612      
Beginning Balance, Amount at Dec. 31, 2013   $ 324,063 $ 125,035 $ 126,036,949 $ (121,948,847) $ 4,537,200
Stock-based compensation expense related to employee stock options       15,046   15,046
Accretion of redeemable preferred stock discount   25,942   (90,149)   (64,207)
Accretion of redeemable preferred stock dividends   $ 22,025   (96,051)   (74,026)
Value of warrants issued in conjunction with line of credit       37,897   37,897
Value of warrants issued for consulting       4,784   4,784
Net income (loss)         42,830 42,830
Ending Balance, Shares at Dec. 31, 2014 0 55 125,035,612      
Ending Balance, Amount at Dec. 31, 2014 $ 0 $ 372,030 $ 125,035 125,908,476 (121,906,017) 4,499,524
Stock-based compensation expense related to employee stock options       14,383   14,383
Shares issued to preferred stockholders for warrants exercised, shares     2,019,236      
Shares issued to preferred stockholders for warrants exercised, value     $ 2,019 260,481   262,500
Accretion of redeemable preferred stock dividends $ 18,454 $ 10,921   (47,628)   (18,253)
Reclassification from temporary equity to permanent equity, shares 185          
Reclassification from temporary equity to permanent equity, value $ 1,322,112         1,322,112
Net income (loss)         (189,104) (189,104)
Ending Balance, Shares at Dec. 31, 2015 185 55 127,054,848      
Ending Balance, Amount at Dec. 31, 2015 $ 1,340,566 $ 382,951 $ 127,054 $ 126,135,712 $ (122,095,121) $ 5,891,162