Note 18 - Subsequent events |
6 Months Ended |
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Jun. 30, 2015 | |
| Subsequent Events [Abstract] | |
| Subsequent Events [Text Block] |
Note 18 – Subsequent events
On July 29, 2015, the Company approved a stock incentive plan authorizing the issuance of up to 6,750,000 shares of common stock under the plan and granted restricted stock awards to seven of its employees for a total of 4,022,613 shares. These shares will vest and be issued on January 1, 2016 assuming each of the employees remained employed by the Company through such date.
On July 29, 2015, the Company authorized the issuance of 105,000 shares of common stock, which vested pursuant to the terms of the agreement with its Interim CFO (Kathleen Hanrahan) on June 30, 2015. As of the date of this report the shares have not been issued.
On July 29, 2015, the Company authorized the issuance of 25,000 shares of common stock upon the exercise of warrants for $6,250 in cash received in January of 2015. As of the date of this report the shares have not been issued.
On July 31, 2015, the Company conducted the Second Closing pursuant to the sale of additional Senior Secured Debentures for $50,000 and issued 50,000 Class C warrants to purchase shares of common stock for five years at $0.10 per share to one accredited investor, which is a related party of its CEO/President.
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