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, 2015 185 55 127,054,848      
Beginning Balance, Amount at Dec. 31, 2015 $ 1,340,566 $ 382,951 $ 127,054 $ 126,135,712 $ (122,095,121) $ 5,891,162
Shares issued to directors, shares     392,700      
Shares issued to directors, value     $ 393 71,607   72,000
Stock-based compensation expense related to employee stock options       55,050   55,050
Shares issued to preferred stockholders for warrants exercised, shares     5,211,542      
Shares issued to preferred stockholders for warrants exercised, value     $ 5,212 672,289   677,501
Shares issued on conversion of preferred stock at $0.13 per share, shares   (3) 115,385      
Shares issued on conversion of preferred stock at $0.13 per share, value   $ (15,000) $ 115 14,885    
Accrued dividends adjustment due to preferred stock conversion   $ (5,892)   (5,892)    
Net loss/income         (1,375,913) (1,375,913)
Ending Balance, Shares at Dec. 31, 2016 185 52 132,774,475      
Ending Balance, Amount at Dec. 31, 2016 $ 1,340,566 $ 362,059 $ 132,774 126,955,435 (123,471,034) 5,319,800
Shares issued to directors, shares     920,636      
Shares issued to directors, value     $ 921 143,079   144,000
Stock-based compensation expense related to employee stock options       322,888   322,888
Shares issued to preferred stockholders for warrants exercised, value $ 5 $ 5 $ 5 5 5 5
Net loss/income         3,746,378 3,746,378
Ending Balance, Shares at Dec. 31, 2017 185 52 133,695,111      
Ending Balance, Amount at Dec. 31, 2017 $ 1,340,566 $ 362,059 $ 133,695 $ 127,421,402 $ (119,724,656) $ 9,533,066