Quarterly report pursuant to Section 13 or 15(d)

NOTE 8 - STOCKHOLDER EQUITY

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NOTE 8 - STOCKHOLDER EQUITY
3 Months Ended
Mar. 31, 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 March 31, 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 March 31, 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 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 March 31, 2019 and December 31, 2018, the Company had 20,009,985 and 16,868,783 shares issued and outstanding, respectively.


During the three months ended March 31, 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 three months ended March 31, 2019, the Company issued an aggregate of 23,332 shares of its common stock for vested restricted stock units.


During the three months ended March 31, 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 three months ended March 31, 2019, the Company issued 298,319 shares of common stock in exchange for proceeds of $1,150,780 from the exercise of warrants.


During the three months ended March 31, 2019, the Company issued 104,424 shares of common stock in exchange for the exercise of 210,144 cashless exercises of warrants.


At March 31, 2019, the Company had received proceeds of $309,000 for the exercise of warrants.