Quarterly report pursuant to Section 13 or 15(d)

NOTE 8 - STOCKHOLDER EQUITY

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NOTE 8 - STOCKHOLDER EQUITY
6 Months Ended
Jun. 30, 2019
Stockholders' Equity Note [Abstract]  
Stockholders' Equity Note Disclosure [Text Block]

NOTE 8 – STOCKHOLDER EQUITY


Preferred stock


The Company is authorized to issue 1,000,000 shares of $0.001 par value preferred stock. As of June 30, 2019 and December 31, 2018, the Company has authorized 200 shares of Series A preferred stock, 600 shares of Series B preferred stock, 4,200 shares of Series C Preferred Stock, 1,400 shares of Series D Preferred Stock and 1,000 shares of Series E Preferred Stock. As of June 30, 2019 and December 31, 2018, there were no outstanding shares of Series A, Series B, Series D and Series E preferred stock.


Common stock


On September 10, 2018, the Company amended its Articles of Incorporation to implement a reverse stock split in the ratio of 1 share for every 2.5 shares of common stock. No fractional shares were issued from such aggregation of common stock, upon the reverse split; any fractional share was rounded up and converted to the nearest whole share of common stock. As a result, 40,333,758 of the Company’s common stock were exchanged for 16,133,544 of the Company's common stock resulting in the transfer of $24,200 from common stock to additional paid in capital. These unaudited condensed consolidated financial statements have been retroactively restated to reflect the reverse stock split.


The Company is authorized to issue 200,000,000 shares of $0.001 par value common stock. As of June 30, 2019 and December 31, 2018, the Company had 21,151,134 and 16,868,783 shares issued and outstanding, respectively.


During the six months ended June 30, 2019, the Company issued an aggregate of 560,000 shares of its common stock for services totaling $2,333,200 ($4.17 per share).


During the six months ended June 30, 2019, the Company issued an aggregate of 53,332 shares of its common stock for vested restricted stock units as stock based compensation.


During the six months ended June 30, 2019, the Company entered into securities purchase agreements with investors pursuant to which the Company issued 2,155,127 shares of common stock for aggregate proceeds of $8,619,278, net of $1,230 in expenses


During the six months ended June 30, 2019, the Company issued 1,130,029 shares of common stock in exchange for proceeds of $4,618,487 from the exercise of warrants.


During the six months ended June 30, 2019, the Company issued 160,962 shares of common stock in exchange for the exercise of 303,255 cashless exercises of warrants.


During the six months ended June 30, 2019, the Company issued 93,500 shares of common stock in exchange for proceeds of $444,838 from the exercise of options.


During the six months ended June 30, 2019, the Company issued 38,687 shares of common stock in exchange for the exercise of 130,423 cashless exercises of options.


At June 30, 2019, the Company accrued an aggregate of $2,273,600 as stock based compensation for 260,000 shares of common stock due for stock based compensation.