Stockholders' Equity

9 Months Ended

Sep. 30, 2015

Stockholders' Equity Note [Abstract]

Stockholders' Equity

Note 8 - Stockholders’ Equity

We are authorized to issue up to 250,000,000 shares of Common Stock, no par value, and up to 2,500,000 shares of Preferred Stock, no par value. There were 75,474,892 and 70,825,215 shares of common stock issued and outstanding at September 30, 2015 and December 31, 2014, respectively.  During the year ended December 31, 2011, we designated 880,000 shares of preferred stock as 10% convertible preferred stock and had issued and outstanding 682,998 shares of 10% convertible preferred stock at September 30, 2015 and December 31, 2014. We may issue additional shares of preferred stock, with dividend requirements, voting rights, redemption prices, liquidation preferences and premiums, conversion rights and other terms without a vote of the shareholders.

Common Stock Issuances for the Nine Months Ended September 30, 2015

During January 2015, we issued 357,561 shares of common stock as payment of our dividends on our 10% convertible preferred stock, in lieu of cash, with a fair value on the date of issue of $143,024.

During January 2015, we issued 678,825 shares of common stock as payment of our interest on our 8% convertible notes, in lieu of cash, with a fair value on the date of issue of $271,530.

During January 2015, we issued 81,648 shares of common stock as payment of our interest on our 12% revolving credit agreement, in lieu of cash, with a fair value on the date of issue of $32,659.

During January 2015, we issued 1,667 shares of common stock to a consultant pursuant to terms of an agreement, with a fair value on the date of issue of $600.

During February 2015, we issued 1,666 shares of common stock to a consultant pursuant to terms of an agreement, with a fair value on the date of issue of $550.

During February 2015, we issued 303,031 shares of common stock to a consultant pursuant to terms of an agreement, with a fair value on the date of issue of $100,000.

During March 2015, we issued 1,667 shares of common stock to a consultant pursuant to terms of an agreement, with a fair value on the date of issue of $468.

During April 2015, we issued 557,856 shares of common stock as payment of our dividends on our 10% convertible preferred stock, in lieu of cash, with a fair value on the date of issue of $172,935.

During April 2015, we issued 1,121,256 shares of common stock as payment of our interest on our 8% convertible notes, in lieu of cash, with a fair value on the date of issue of $347,589.

During April 2015, we issued 134,862 shares of common stock as payment of our interest on our 12% revolving credit agreement, in lieu of cash, with a fair value on the date of issue of $41,807.

During July 2015, we issued 1,409,638 shares of common stock as payment of our dividends on our 10% convertible preferred stock, in lieu of cash, with a fair value on the date of issue of $169,157.