Stockholders' Equity

3 Months Ended

Mar. 31, 2015

Equity [Abstract]

Stockholders' Equity

NOTE 14 – STOCKHOLDERS’ EQUITY

PREFERRED STOCK

As of March 31, 2015, there were 25,000,000 preferred shares authorized and 500,000 preferred shares outstanding. The board of directors had previously set the voting rights for the preferred stock at 1 share of preferred to 250 common shares.

COMMON STOCK

There were no shares of stock issued during the first quarter of 2015.

Warrants and Options

On February 26, 2015, the Company issued two board of directors a total of 72,000 warrants valued at $19,758 for their service.  The value of these warrants was estimated by using the Black-Scholes option pricing model with the following assumptions: exercise price of $0.43, term of 3 years; risk free interest rate of 1.04%; dividend yield of 0% and expected volatility of 104%.