Quarterly report pursuant to Section 13 or 15(d)

NOTE 12 - SUBSEQUENT EVENTS

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NOTE 12 - SUBSEQUENT EVENTS
3 Months Ended
Mar. 31, 2017
Subsequent Events [Abstract]  
Subsequent Events [Text Block]
NOTE 12 – SUBSEQUENT EVENTS

On April 2017, the Company entered into securities purchase agreements with investors, pursuant to which the Company received from subscriptions for the purchase of 576,599 shares of the Company’s common stock and warrants to purchase 288,300 shares of our common stock at $1.50, expiring three years from issuance, for aggregate net cash proceeds of $864,819. In addition, the Company issued 186,957 warrants to purchase the Company’s common stock at $1.50, expiring January 13, 2020 for prior placement agent services.

In April 2017, the Company issued an aggregate of 200,000 shares of its common stock for services totaling $290,000 ($1.45 per share).

In April 2017, the Company issued 15,000 shares of its common stock in payment of vested restricted share units.

In April 2017, the Company received and canceled 10,744 shares of its common stock as payment for short-swing profit pursuant to Section 16(b) of the U.S. Securities Exchange Act of 1934, as amended from an officer and member of the Company’s Board of Directors.