0001262463-17-000180.txt : 20170814 0001262463-17-000180.hdr.sgml : 20170814 20170814164318 ACCESSION NUMBER: 0001262463-17-000180 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 50 CONFORMED PERIOD OF REPORT: 20170630 FILED AS OF DATE: 20170814 DATE AS OF CHANGE: 20170814 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPYR, Inc. CENTRAL INDEX KEY: 0000829325 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING & DRINKING PLACES [5810] IRS NUMBER: 752636283 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 033-20111 FILM NUMBER: 171030923 BUSINESS ADDRESS: STREET 1: 4643 S ULSTER ST. SUITE 1510 CITY: DENVER STATE: CO ZIP: 80237 BUSINESS PHONE: 303-991-8000 MAIL ADDRESS: STREET 1: 4643 S ULSTER ST. SUITE 1510 CITY: DENVER STATE: CO ZIP: 80237 FORMER COMPANY: FORMER CONFORMED NAME: EAT AT JOES LTD DATE OF NAME CHANGE: 19961125 FORMER COMPANY: FORMER CONFORMED NAME: CONCEPTUALISTICS INC DATE OF NAME CHANGE: 19961122 10-Q 1 spyr10q63017.htm FORM 10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(Mark One)

☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

For the quarterly period ended: June 30, 2017

 

or

 

☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE

EXCHANGE ACT

 

For the transition period from __________ to __________

 

Commission file number 33-20111

 

SPYR, INC.
(Exact name of registrant as specified in its charter)

 

Nevada   75-2636283
(State or other jurisdiction of incorporation or organization)   (IRS Employer Identification No.)

 

4643 S. Ulster St., Suite 1510, Denver, CO 80237

(Address of principal executive offices)

 

(303) 991-8000

(Registrant's telephone number)

 

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the issuer was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days Yes ☐ No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).
Yes ☐ No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and" smaller reporting company" in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer   Accelerated filer
Non-accelerated filer   Smaller reporting company
Emerging growth company      

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

 

APPLICABLE ONLY TO CORPORATE ISSUERS

 

As of August 5, 2017, there were 162,422,026 shares of the Registrant's common stock, par value $0.0001, issued, 107,636 shares of Series A Convertible preferred stock (convertible to 26,909,028 common shares), par value $0.0001, and 20,000 shares of Series E Convertible preferred stock (convertible to 550,055 common shares), par value $0.0001.

1 
 

PART I - FINANCIAL INFORMATION

 

ITEM 1.FINANCIAL STATEMENTS

 

SPYR, INC., AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
           
    June 30,
2017
    December 31,
2016
 
ASSETS   (Unaudited)      
Current Assets:          
   Cash and cash equivalents  $1,303,000   $3,204,000 
   Accounts receivable, net   21,000    31,000 
   Other receivable   —      200,000 
   Prepaid expenses   69,000    25,000 
   Trading securities, at market value   32,000    59,000 
   Current assets of discontinued operations   4,000    50,000 
          Total Current Assets   1,429,000    3,569,000 
           
   Property and equipment, net   158,000    181,000 
   Intangible assets, net   16,000    18,000 
   Capitalized licensing rights, net   295,000    40,000 
   Other assets   5,000    5,000 
   Non-current assets of discontinued operations   8,000    47,000 
TOTAL ASSETS  $1,911,000   $3,860,000 
           
LIABILITIES AND STOCKHOLDERS' EQUITY          
LIABILITIES          
Current Liabilities:          
   Accounts payable and accrued liabilities  $139,000   $118,000 
   Minimum Guaranteed Royalties Payable – current   100,000    —   
   Current liabilities of discontinued operations   37,000    58,000 
          Total Current Liabilities   276,000    176,000 
           
   Minimum Guaranteed Royalties Payable – non-current   25,000    —   
         Total Liabilities   301,000    176,000 
COMMITMENTS AND CONTINGENCIES          
           
STOCKHOLDERS’ EQUITY          
   Preferred stock, $0.0001 par value, 10,000,000 shares authorized          
      107,636 Class A shares issued and outstanding          
        as of June 30, 2017 and December 31, 2016   11    11 
     20,000 Class E shares issued and outstanding          
        as of June 30, 2017 and December 31, 2016   2    2 
   Common Stock, $0.0001 par value, 250,000,000 shares authorized          
       162,352,026 and 157,637,026 shares issued and outstanding          
        as of June 30, 2017 and December 31, 2016   16,235    15,763 
   Additional paid-in capital   38,390,752    34,752,224 
   Accumulated deficit   (36,797,000)   (31,084,000)
          Total Stockholders’ Equity   1,610,000    3,684,000 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY  $1,911,000   $3,860,000 
           
The accompanying notes are an integral part of these condensed consolidated financial statements. 

 

 

2 
 

SPYR, INC., AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
                     
    

For the Three
Months Ended
June 30,

    For the Six
Months Ended
March 31,
 
    2017    2016    2017    2016 
                     
Revenues  $32,000   $30,000   $84,000   $65,000 
                     
Expenses                    
   Labor and related expenses   308,000    220,000    1,678,000    656,000 
   Rent   49,000    35,000    87,000    67,000 
   Depreciation and amortization   30,000    20,000    45,000    39,000 
   Professional fees   1,300,000    319,000    2,892,000    538,000 
   Research and development   152,000    108,000    265,000    183,000 
   Other general and administrative   370,000    313,000    703,000    474,000 
          Total Operating Expenses   2,209,000    1,015,000    5,670,000    1,957,000 
          Operating Loss   (2,177,000)   (985,000)   (5,586,000)   (1,892,000)
                     
Other Income (Expense)                    
   Interest and dividend income   1,000    5,000    4,000    10,000 
   Unrealized loss on trading securities   (12,000)   (185,000)   (27,000)   (84,000)
   Gain on sale of marketable securities   —      25,000    —      74,000 
          Total Other Expense   (11,000)   (155,000)   (23,000)   —   
                     
Loss from continuing operations   (2,188,000)   (1,140,000)   (5,609,000)   (1,892,000)
                     
Income (Loss) on discontinued operations   (68,000)   1,000    (104,000)   (60,000)
                     
Net Loss  $(2,256,000)  $(1,139,000)  $(5,713,000)  $(1,952,000)
                     
Per Share Amounts                    
   Loss from continuing operations                    
      Basic and Diluted earnings per share  $(0.01)  $(0.01)  $(0.04)  $(0.01)
                     
   Loss on discontinued operations                    
      Basic and Diluted earnings per share  $—     $—     $—     $—   
                     
   Net Loss                    
      Basic and Diluted earnings per share  $(0.01)  $(0.01)  $(0.04)  $(0.01)
                     
Weighted Average Common Shares                    
      Basic and Diluted   160,846,474    152,564,198    160,321,114    152,838,539 
                     
The accompanying notes are an integral part of these condensed consolidated financial statements. 

 

3 
 

SPYR, INC., AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
SIX MONTHS ENDED JUNE 30, 2017
(Unaudited)
                            
   Preferred Stock        Additional      
   Class A  Class E  Common Stock  Paid-in  Accumulated   
   Shares  Amount  Shares  Amount  Shares  Amount  Capital  Deficit  Total
Balance at December 31, 2016   107,636   $11    20,000   $2    157,637,026   $15,763   $34,752,224   $(31,084,000)  $3,684,000 
                                              
Common stock issued for cash   —      —      —      —      750,000    75    299,925    —      300,000 
Compensation expense recorded upon sale of common stock   —      —      —      —      —      —      210,000    —      210,000 
Fair value of common stock issued for employee compensation   —      —      —      —      1,250,000    125    846,875    —      847,000 
Fair value of common stock issued for professional fees   —      —      —      —      2,715,000    272    1,698,728    —      1,699,000 
Vesting of options and warrants granted for services   —      —      —      —      —      —      537,000    —      537,000 
Vesting of shares of common stock issued for services   —      —      —      —      —      —      46,000    —      46,000 
Net loss   —      —      —      —      —      —      —      (5,713,000)   (5,713,000)
Balance at June 30, 2017   107,636   $11    20,000   $2    162,352,026   $16,235   $38,390,752   $(36,797,000)  $1,610,000 
                                              
The accompanying notes are an integral part of these condensed consolidated financial statements.

 

4 
 

SPYR, INC., AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
           
    For the Six Months Ended June 30, 
    2017    2016 
Cash Flows From Operating Activities:          
Net loss for the period  $(5,713,000)  $(1,952,000)
Adjustments to reconcile net loss to net cash used in operating activities:          
     Depreciation and amortization   45,000    39,000 
     Fair value of vesting warrants and options   537,000    —   
     Common stock issued for employee compensation   847,000    200,000 
     Common stock issued for professional fees   1,909,000    70,000 
     Vesting of shares of common stock issued for services   46,000    68,000 
     Unrealized loss on trading securities   27,000    84,000 
     Gain on sale of trading securities   —      (74,000)
     (Increase) decrease in accounts receivables   10,000    (13,000)
     Decrease in other receivables   100,000    —   
     Increase in prepaid expenses   (44,000)   (36,000)
     Increase (Decrease) in accounts payable and accrued liabilities   21,000    (21,000)
     Decrease in related party accounts payable   —      (7,000)
Net Cash Used in Operating Activities from Continuing Operations   (2,215,000)   (1,642,000)
Net Cash Provided by Operating Activities from Discontinued Operations   64,000    25,000 
Net Cash Used in Operating Activities   (2,151,000)   (1,617,000)
           
Cash Flows From Investing Activities:          
     Purchase of licensing rights   (50,000)   (10,000)
     Purchases of trading securities   —      (510,000)
     Proceeds from sale of trading securities   —      280,000 
     Purchase of property and equipment   —      (48,000)
Net Cash Used in Investing Activities   (50,000)   (288,000)
           
Cash Flows From Financing Activities:          
     Proceeds from sale of common stock   300,000    15,000 
Net Cash Provided by Financing Activities   300,000    15,000 
           
Net decrease in Cash   (1,901,000)   (1,890,000)
Cash and cash equivalents at beginning of period   3,204,000    6,904,000 
Cash and cash equivalents at end of period  $1,303,000   $5,014,000 
           
Supplemental Disclosure of Interest and Income Taxes Paid:          
    Interest paid during the period  $—     $—   
   Income taxes paid during the period  $—     $—   
           
Supplemental Disclosure of Non-cash Investing  and Financing Activities:          
   Reclassification of other assets to capitalized licensing rights  $100,000   $—   
   Minimum guaranteed royalties payable  $125,000   $—   
   Common stock issued for acquisition of Franklin Networks, Inc.  $—     $—   
           
The accompanying notes are an integral part of these condensed consolidated financial statements.

 

 

5 
 

SPYR, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

Six Months Ended June 30, 2017 and 2016

(Unaudited)

 

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Interim Financial Statements

 

The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the SEC. The condensed consolidated balance sheet as of December 31, 2016 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including notes, required by GAAP.

 

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to fairly present the Company's financial position and results of operations for the interim periods reflected. Except as noted, all adjustments contained herein are of a normal recurring nature. Results of operations for the fiscal periods presented herein are not necessarily indicative of fiscal year-end results.

 

The condensed consolidated financial statements and all relevant footnotes have been adjusted as of the earliest period presented to reflect the discontinued operations (see Note 6).

 

Organization

 

The Company was incorporated as Conceptualistics, Inc. on January 6, 1988 in Delaware. Subsequent to its incorporation, the Company changed its name to Eat at Joe’s, Ltd. In February 2015, the Company changed its name to SPYR, Inc. and adopted a new ticker symbol “SPYR” effective March 12, 2015.

 

Nature of Business

 

The primary focus of SPYR, Inc. (the “Company”) is to act as a holding company and develop a portfolio of profitable subsidiaries, not limited by any particular industry or business.

 

Through our wholly owned subsidiaries, SPYR APPS, LLC and SPYR APPS, Oy, we operate our mobile games and applications business. The focus of the SPYR APPS subsidiaries is the development and publication of our own mobile games as well as the publication of games developed by third-party developers. As of October 5, 2016, SPYR APPS, Oy ceased business activities and began the dissolution process, which dissolution we expect should be completed before the end of the year.

 

Through our other wholly owned subsidiary, E.A.J.: PHL Airport, Inc., we owned and operated the restaurant “Eat at Joe’s®,” which was located in the Philadelphia International Airport since 1997. Our lease in the Philadelphia Airport expired in April 2017. Concurrent with expiration of the lease the restaurant closed. Our plan is to complete a tax free exchange of our intellectual property related to our restaurant operations, including the registered trademark: “Eat at Joe’s®,” and related furniture, fixtures and equipment to our wholly owned subsidiary, Branded Foods Concepts, Inc. (“Branded Foods”), in exchange for common shares of Branded Foods, which will be issued to our shareholders of record as of May 19, 2017, resulting in our qualifying shareholders receiving one share of Branded Foods common stock for every share of our common stock beneficially owned as of the record date. We expect Branded Foods will concurrently register its common stock under Section 12g of the Securities Act on Form 10 and thereafter become a fully reporting independent company. Pursuant to current accounting guidelines, the assets and liabilities of EAJ as well as the results of its operations were presented in these financial statements as discontinued operations.

 

6 
 

Principles of Consolidation

 

The consolidated financial statements include the accounts of SPYR, Inc. and its wholly-owned subsidiaries, SPYR APPS, LLC, a Nevada Limited Liability Company, and SPYR APPS, Oy, a Finnish Limited Liability Company, E.A.J.: PHL, Airport Inc., a Pennsylvania corporation (discontinued operations, see Note 6), and Branded Foods Concepts, Inc., a Nevada corporation. Intercompany accounts and transactions have been eliminated.

 

Liquidity

 

The accompanying financial statements have been prepared under the assumption that the Company will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. For the six months ended June 30, 2017, the Company recorded a net loss from continuing operations of $5,609,000 and utilized cash in continuing operations of $2,215,000. As of June 30, 2017, our cash balance was $1,303,000 and we had trading securities of $32,000.

 

The Company’s restaurant, Eat At Joes closed in April 2017, concurrent with the expiration of the lease. However, the Company plans to expand its mobile games and application development and publishing activities, such as Pocket Starships, through acquisition and/or development of its own intellectual property and publishing agreements with developers.

 

We estimate the Company currently has sufficient cash and liquidity to meet its working capital needs for its fiscal year 2017. Historically, we have financed our operations primarily through private sales of our trading securities or through sales of our common stock. If our sales goals for our products do not materialize as planned, we believe that the Company can reduce its operating and product development costs that would allow us to maintain sufficient cash levels to continue operations. However, if we are not able to achieve profitable operations at some point in the future, we may have insufficient working capital to maintain our operations as we presently intend to conduct them or to fund our expansion, marketing, and product development plans. There can be no assurance that we will be able to obtain such financing on acceptable terms, or at all.

 

Use of Estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions used by management affected impairment analysis for fixed assets, intangible assets, amounts of potential liabilities and valuation of issuance of equity securities. Actual results could differ from those estimates.

 

Earnings (Loss) Per Share

 

The Company’s computation of earnings (loss) per share (EPS) includes basic and diluted EPS. Basic EPS is calculated by dividing the Company’s net income (loss) available to common stockholders by the weighted average number of common shares during the period. Diluted EPS reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income (loss) of the Company. In computing diluted EPS, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Shares of restricted stock are included in the basic weighted average number of common shares outstanding from the time they vest.

 

The basic and fully diluted shares for the six months ended June 30, 2017 are the same because the inclusion of the potential shares (Class A – 26,909,028, Class E – 185,874, Options – 6,120,000, Warrants – 1,200,000) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2017.

 

The basic and fully diluted shares for the six months ended June 30, 2016 are the same because the inclusion of the potential shares (Non-vested Common – 154,166, Class A – 26,909,028, Class E – 365,738) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2016.

 

Software Licensing and Publication Costs

 

Software licensing and publishing costs pertain to non-refundable payments made to independent gaming software developers pursuant to licensing agreements. The payments are intended to assist gaming software developers in the marketing and further development of gaming software applications.

 

7 
 

 

Software licensing and publication costs were $501,000 and $195,000 for the six months ended June 30, 2017 and 2016, respectively, and was reflected as part of general and administrative expenses on the accompanying condensed consolidated statements of operations.

 

Capitalized Licensing Rights

 

Capitalized licensing rights represent fees paid to intellectual property rights holders for use of their trademarks, copyrights, software, technology, music or other intellectual property or proprietary rights in the development of our products. Depending upon the agreement with the rights holder, we may obtain the right to use the intellectual property in multiple products over a number of years, or alternatively, for a single product.

 

Significant management judgments and estimates are utilized in assessing the recoverability of capitalized costs. In evaluating the recoverability of capitalized costs, the assessment of expected product performance utilizes forecasted sales amounts and estimates of additional costs to be incurred. If revised forecasted or actual product sales are less than the originally forecasted amounts utilized in the initial recoverability analysis, the net realizable value may be lower than originally estimated in any given quarter, which could result in an impairment charge. Material differences may result in the amount and timing of expenses for any period if management makes different judgments or utilizes different estimates in evaluating these qualitative factors.

 

During 2017, the Company capitalized $175,000 pursuant to a licensing agreement for the non-exclusive, limited right to incorporate certain intellectual property (IP) from various STAR TREK television series in to future updates to and expansions of the Pocket Starships game. The Company estimates that the IP will have an estimated life of 1.6 years, which approximates the term of the license. In addition, we also acquired the game titled Battlewack: Idle Lords for $100,000, pursuant to settlement with the game owner and developer.

 

In a prior period, the Company capitalized $50,000 as a result of the acquisition of licensing rights of one gaming applications. The Company estimates that the gaming application will have an estimated life of five years, which approximates the term of the license.

 

During the period ended June 30, 2017, the Company recorded amortization expense of $20,000 pursuant to the terms of these licensing rights. As of June 30, 2017 and December 31, 2016, the unamortized capitalized licensing rights amounted to $295,000 and $40,000 respectively.

 

Research and Development Costs

 

Costs incurred for research and development are expensed as incurred. During the six months ended June 30, 2017 and 2016, the Company incurred $265,000 and $183,000 in research and development costs paid to independent gaming software developers.

 

Reclassifications

 

During the period ended June 30, 2016, the Company incurred $183,000 in connection with fees paid to a game developer for the development of the Pocket Starships game that were accounted as part of Operating expenses. To conform with presentation adopted for the current period, the Company reclassified this amount as Research and Development expenses. The reclassification had no effect on total assets, total shareholder's equity, net loss or cash flows as previously presented.

 

Recent Accounting Standards

 

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. Entities will be able to transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of ASU 2014-09 on the Company’s financial statements and disclosures.

 

8 
 

 

In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is in the process of evaluating the impact of ASU 2016-02 on the Company’s financial statements and disclosures.

 

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

 

NOTE 2 - TRADING SECURITIES

 

The Company’s securities investments are bought and held principally for the purpose of selling them in the short term and are classified as trading securities. Trading securities are recorded at fair value based on quoted market prices (level 1) on the balance sheet in current assets, with the change in fair value during the period included in earnings as unrealized gains or losses in the statement of operations. Gains from the sales of such securities will be utilized to fund payment of obligations and to provide working capital for operations and to finance future growth, including, but not limited to: conducting our ongoing business, conducting strategic business development, marketing analysis, due diligence investigations into possible acquisitions, and research and development and implementation of the Company’s business plans generally.

 

Investments in securities are summarized as follows:

 

   Fair Value at          
   Beginning of     Proceeds from  Gain on  Unrealized  Fair Value at
Year  Year  Purchases  Sale  Sale  Loss  June 30, 2017
 2017   $59,000   $—     $—     $—     $(27,000)  $32,000 

 

 

Realized gains and losses are determined on the basis of specific identification. During the six months ended June 30, 2017 and 2016, sales proceeds and gross realized gains and losses on trading securities were:

 

    June 30,
2017
    June 30,
2016
 
           
  Sales proceeds  $—     $280,000 
  Gross realized (losses)  $—     $—   
  Gross realized gains   —      74,000 
  Gain (loss) on sale of trading securities  $—     $74,000 

 

 

9 
 

 

The following table discloses the assets measured at fair value on a recurring basis and the methods used to determine fair value:

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    June 30, 2017   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   32,000    $                   32,000    $                           -       $                          -   
Money market funds                         36,000                         36,000                                 -                                   -   
Total    $                   68,000    $                   68,000    $                           -       $                          -   

 

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    December 31, 2016   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   59,000    $                   59,000    $                           -       $                          -   
Money market funds                         36,000                         36,000                                 -                                   -   
Total    $                   95,000    $                   95,000    $                           -       $                          -   

 

The fair value of the Company’s trading securities is determined by reference to quoted market prices (level 1). During the six months ended June 30, 2017, the Company recorded $27,000 in unrealized losses to account for the changes in fair value of its trading securities. During the six months ended June 30, 2016, the Company recorded $84,000 in unrealized gains to account for the changes in fair value of its trading securities.

 

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

   June 30,
2017
  December 31,
2016
    (Unaudited)      
Equipment  $130,000   $121,000 
Furniture & fixtures   114,000    116,000 
Leasehold improvements   107,000    381,000 
    351,000    618,000 
Less: accumulated depreciation and amortization   (193,000)   (437,000)
   Property and Equipment, Net  $158,000   $181,000 

 

Depreciation and amortization expense for the six months ended June 30, 2017 and 2016 was $23,000 and $39,000, respectively.

 

10 
 

 

NOTE 4 – EQUITY TRANSACTIONS

 

Common Stock:

 

During the six months ended June 30, 2017, the Company issued an aggregate of 750,000 shares of restricted common stock to an existing shareholder and former officer/employee for cash of $300,000. The common shares had a fair value of $510,000 at the date of sale, and as a result, the Company reflected an additional expense of $210,000 to account the difference between the sale price and the fair market value of common shares sold.

 

During the six months ended June 30, 2017, the Company issued an aggregate of 1,250,000 shares of restricted common stock to employees with a total fair value of $847,000 for services rendered. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $847,000 upon issuance. The shares issued were valued at the date earned under the respective agreements.

 

During the six months ended June 30, 2017, the Company issued an aggregate of 2,715,000 shares of restricted common stock to consultants with a total fair value of $1,699,000. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $1,699,000 upon issuance. The shares issued were valued at the date earned under the respective agreements.

 

Common Stock with Vesting Terms:

 

The following table summarizes common stock with vesting terms activity:

          Weighted
          Average
    Number of     Grant Date
    Shares     Fair Value
Non-vested, December 31, 2016 20,833    $ 0.50
  Granted —      — 
  Vested (20,833)     0.50
  Forfeited —      — 
Non-vested, June 30, 2017 —    $ — 
           

 

11 
 

 

In February 2015, the Company granted and issued 500,000 shares of its restricted common stock to a consultant pursuant to a consulting agreement. The 500,000 shares are forfeitable and are deemed earned upon completion of service over a period of twenty-four months. The Company recognizes the fair value of these shares as they vest. As of December 31, 2016, 479,167 of these shares had vested and 20,833 common shares unvested. During the six months ended June 30, 2017, the remaining 20,833 of these shares vested and as a result, the Company recognized compensation cost of $46,000. As of June 30, 2017, there were no unvested shares and no unearned compensation costs to be recorded.

 

When calculating basic net income (loss) per share, these shares are included in weighted average common shares outstanding from the time they vest. When calculating diluted net income per share, these shares are included in weighted average common shares outstanding as of their grant date.

 

Options

 

The following table summarizes common stock options activity:

          Weighted
          Average
    Options     Exercise Price
December 31, 2016 12,900,000    $ 2.83 
  Granted 720,000      1.00 
  Exercised    
  Cancelled    
  Forfeited (7,500,000)     3.97 
Outstanding, June 30, 2017 6,120,000      3.27 
Exercisable, June 30, 2017 4,840,000    $ 3.30 
           

 

During the period ended June 30, 2017, the Company granted stock options to consultants to purchase a total of 720,000 shares of common stock. A total of 440,000 options vested upon grant while the remaining 280,000 options will vest through February 2018 at a rate of 35,000 shares per month. The options are exercisable at $1.00 per share and will expire over 4 years. The fair values of the options are recorded at their respective grant dates computed using the Black-Scholes Option Pricing Model. During the six months ended June 30, 2017, the Company recognized $247,000 in compensation expense based upon the vesting of outstanding options. As of June 30, 2017 the unamortized compensation expense for unvested options was $167,000 which will be recognized over the vesting period.

 

The weighted average exercise prices, remaining lives for options granted, and exercisable as of June 30, 2017, were as follows:

 

    Outstanding Options       Exercisable Options
Options           Weighted       Weighted
Exercise Price       Life   Average Exercise       Average Exercise
Per Share   Shares   (Years)   Price   Shares   Price
                     
$1.00   1,870,000   0.50 – 3.61   $1.00   1,590,000   $1.00
$2.50   1,250,000   1.50   $2.50   750,000   $2.50
$5.00   3,000,000   2.50   $5.00   2,500,000   $5.00
    6,120,000       $3.27   4,840,000   $3.30
12 
 

 

At June 30, 2017, the Company’s closing stock price was $0.51 per share. As all outstanding options had an exercise price greater than $0.51 per share, there was no intrinsic value of the options outstanding at June 30, 2017.

 

Warrants:

 

The following table summarizes common stock warrants activity:

 

      Weighted
      Average
      Exercise
   Warrants  Price
 December 31, 2016    200,000   $0.33 
 Granted    1,000,000    1.50 
 Exercised    —      —   
 Cancelled    —      —   
 Forfeited    —      —   
 Outstanding June 30, 2017    1,200,000   $1.54 
 Exercisable June 30, 2017    1,200,000   $1.54 

 

In March 2017, pursuant to an employee separation agreement, the Company granted warrants to purchase a total of 1,000,000 shares of restricted common stock with an exercise price of $1.50 and $2.00 which will expire December 31, 2018. The warrants are fully vested and exercisable upon grant. Total fair value of the warrants at grant date amounted to $290,000 computed using the Black-Scholes Option Pricing Model and was fully recognized on the date of grant.

 

The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of June 30, 2017, were as follows:

 

    Outstanding and Exercisable Warrants  
Warrants          
Exercise Price       Life  
Per Share   Shares   (Years)  
$0.50   200,000   0.33  
$1.50   500,000   1.50  
$2.00   500,000   1.50  
    1,200,000      

 

At June 30, 2017, the Company’s closing stock price was $0.51 per share and the aggregate intrinsic value of the warrants outstanding at June 30, 2017 was $2,000.

 

The table below represents the average assumptions used in valuing the stock options and warrants granted in fiscal 2017:

 

    Six-Months Ended 
    June 30, 2017 
Expected life in years   1.75 – 3.92 
Stock price volatility   127% - 158% 
Risk free interest rate   1.26 % - 1.60% 
    Expected dividends   —   
Forfeiture rate   —   
      

 

The assumptions used in the Black Scholes models referred to above are based upon the following data: (1) the contractual life of the underlying non-employee options is the expected life. The expected life of the employee option is estimated by considering the contractual term of the option, the vesting period of the option, the employees’ expected exercise behavior and the post-vesting employee turnover rate. (2) The expected stock price volatility was based upon the Company’s historical stock price over the expected term of the option. (3) The risk-free interest rate is based on published U.S. Treasury Department interest rates for the expected terms of the underlying options. (4) The expected dividend yield was based on the fact that the Company has not paid dividends to common shareholders in the past and does not expect to pay dividends to common shareholders in the future. (5) The expected forfeiture rate is based on historical forfeiture activity and assumptions regarding future forfeitures based on the composition of current grantees.

 

13 
 

 

NOTE 5 – COMMITMENTS AND CONTINGENCIES

 

We are involved in certain legal proceedings that arise from time to time in the ordinary course of our business. Except for income tax contingencies, we record accruals for contingencies to the extent that our management concludes that the occurrence is probable and that the related amounts of loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. A material legal proceeding that is currently pending is as follows:

 

On October 14, 2015, the Company was named as a defendant in a case filed in the United States District Court for the District of Delaware case: Zakeni Limited v. SPYR, Inc., f/k/a Eat at Joe’s., Ltd. The suit relates to the Company’s issuance of two convertible debentures in the aggregate principal amount of $1,500,000 in 1998. The plaintiff is seeking payment or conversion of said convertible debentures together with accrued interest and unspecified damages. The Company believes the claim is not a valid debt and is vigorously defending this lawsuit. On December 4, 2015, the Company filed a motion to dismiss the suit based on the statute of limitations. In evaluating a motion to dismiss, the Court is only allowed to view the allegations set forth in the plaintiff’s complaint and documents referenced therein, must assume that those allegations are true, and must construe all evidence contained in the referenced documents in a light most favorable to the plaintiff. On August 24, 2016, under this standard, the Court determined that the legal requirements to grant the motion to dismiss had not been fully satisfied and denied the Company’s Motion to Dismiss. Accordingly, no final determinations regarding liability have been made, the case will proceed to be litigated in the normal course, and, if the Company elects, it will have the ability to again present its arguments for dismissal prior to trial through a motion for summary judgment, which will allow for a determination to be made based on a legal standard that is slightly less favorable to the plaintiff. If that motion is denied, the Company will still have the opportunity to present all of its arguments and defenses at trial, at which Zakeni will have to prove its case by a preponderance of the evidence. The case is scheduled for trial on July 16, 2018. Based upon available information at this very early stage of litigation, it is still the belief of management and opinion of in-house counsel that the Company will obtain a favorable ruling and no amount will be awarded to the plaintiff in this action. Accordingly, Management believes the likelihood of material loss resulting from this lawsuit to be remote.

 

NOTE 6 – DISCONTINUED OPERATIONS

 

Through our other wholly owned subsidiary, E.A.J.: PHL Airport, Inc., we owned and operated the restaurant “Eat at Joe’s®,” which was located in the Philadelphia International Airport since 1997. Our lease in the Philadelphia Airport expired in April 2017. Concurrent with expiration of the lease the restaurant closed. Pursuant to current accounting guidelines, the restaurant segment is reported as a discontinued operations.

 

The following table summarizes the assets and liabilities of our former restaurant segment's discontinued operations as of June 30, 2017 and December 31, 2016:

 

   June 30,
2017
  December 31,
2016
Assets:          
   Accounts receivable, net  $4,000   $13,000 
   Inventory   —      12,000 
   Prepaid expenses   —      25,000 
   Property and equipment, net   6,000    30,000 
   Other assets   2,000    17,000 
Total Assets  $12,000   $97,000 
           
Liabilities:          
   Accounts payable and accrued liabilities   37,000    58,000 
Total Liabilities  $37,000   $58,000 

  

14 
 

The following table summarizes the results of operations of our former restaurant segment for the three and six months ended June 30, 2017 and 2016 and is included in the condensed consolidated statements of operations as discontinued operations:

 

   For the Three Months Ended
June 30,
  For the Six Months Ended
June 30,
   2017  2016  2017  2016
             
Revenues  $109,000   $345,000   $421,000   $642,000 
Cost of sales   35,000    96,000    134,000    193,000 
          Gross Margin   74,000    249,000    287,000    449,000 
Expenses                    
   Labor and related expenses   55,000    117,000    178,000    234,000 
   Rent   21,000    57,000    82,000    129,000 
   Depreciation and amortization   5,000    18,000    20,000    37,000 
   Professional fees   3,000    3,000    3,000    3,000 
   Other general and administrative   39,000    53,000    89,000    102,000 
          Total Operating Expenses   123,000    248,000    372,000    505,000 
          Operating Income (Loss)   (49,000)   1,000    (85,000)   (56,000)
Other Income (Expense)                    
   Loss on disposal of assets   (19,000)   —      (19,000)   —   
Income (Loss) on discontinued operations  $(68,000)  $1,000   $(104,000)  $(56,000)

 

The following table summarizes cash flow information from our former restaurant segment for the six months ended June 30, 2017 and 2016:

 

   For the Six Months Ended June 30,
   2017  2016
Non-Cash operating items          
     Depreciation and amortization   20,000    37,000 
     Loss on disposal of assets   19,000    —   
     (Increase) decrease in accounts receivables   9,000    (2,000)
     Decrease in inventory   12,000    3,000 
     (Increase) decrease in prepaid expenses   25,000    (8,000)
     Decrease in accounts payable and accrued liabilities   (21,000)   (4,000)

  

NOTE 7 – SUBSEQUENT EVENTS

 

Subsequent to June 30, 2017, the Company issued an aggregate of 70,000 shares of common stock to third party service providers with a total fair value of $26,000 for services rendered. The shares issued are non-refundable and deemed earned upon issuance.

15 
 


ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

 

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with the condensed consolidated financial statements and supplementary data referred to in this Form 10-Q.

 

This discussion contains forward-looking statements that involve risks and uncertainties. Such statements, which include statements concerning revenue sources and concentration, selling, general and administrative expenses and capital resources, are subject to risks and uncertainties, including, but not limited to, those discussed elsewhere in this Form 10-Q that could cause actual results to differ materially from those projected. Unless otherwise expressly indicated, the information set forth in this Form 10-Q is as of June 30, 2017, and we undertake no duty to update this information.

 

Plan of Operations – Through our wholly owned subsidiaries SPYR APPS, LLC, d/b/a SPYR GAMES we develop, publish and co-publish mobile games, and then generate revenue through those games by way of advertising and in-app purchases. Our primary focus is on the development and expansion of our mobile games and applications. We anticipate we will need to hire additional employees during 2017 to help with the development and marketing of existing and future games and applications.

 

In June 2016, we obtained an exclusive option to purchase all the assets of the developer of the electronic game commonly known and referred to as “Pocket Starships” (the “Option”). This exclusive Option is exercisable by the Company at any time, in the Company’s sole discretion, through December 31, 2020, on fixed terms favorable to the Company.

Since December 17, 2015, the Company has been publishing Pocket Starships through an exclusive publishing agreement (the “Publishing Agreement”) with the game’s former publisher, Spectacle Games Publishing (“Spectacle”). The exclusive Publishing Agreement runs for a term of five years, expiring on December 17, 2020, and provides for the Company to fund advanced development and marketing of Pocket Starships in exchange for 50% of the revenue generated by Pocket Starships, plus a recoupment, out of Spectacle’s share of the revenue, of the development money advanced by the Company. Should the Company decide to exercise the Option, the Company will receive 100% of the revenue generated by Pocket Starships.

Spectacle is a California corporation that is under common ownership and control of MMOJoe, as defined below. Spectacle maintains a proper registered agent in California, but otherwise has no formal presence in the U.S. The developer and owner of Pocket Starships, MMOJoe UG, maintains its physical offices out of which its employees perform their work at Rosenstrasse 17, 10178 Berlin, Germany and has incorporated a related entity in the U.S. under common ownership and control by the name of MMOJoe USA, a California corporation, which maintains a proper registered agent, but otherwise has no formal presence in the U.S. (collectively “MMOJoe”). All services and work by Spectacle and MMOJoe are performed by employees working out of offices in Berlin, Germany and/or third party contractors overseas. Should the Company decide to exercise the Option, it will pay to MMOJoe $5,000,000 in cash plus $10,000,000 worth of shares of the Company’s common stock, valued at the time of closing of the purchase. In exchange for the Option, the Company granted MMOJoe stock options to purchase an aggregate of 3.75 million shares of common stock with a fair value of $472,000 using the Black-Scholes Option Pricing Model. The stock options are fully vested, exercisable at a price per share of $1.00, $2.50 and $5.00 and will expire starting in December 31, 2017 through December 31, 2019.

 

During 2017, we signed an agreement with CBS Consumer Products that will allow the incorporation of intellectual property (IP) from various Star Trek television series into future Pocket Starships updates and expansions. Our Pocket Starships development team is already working on expansions of Pocket Starships to include the Star Trek IP, which we expect will be released by the end of October of 2017. In Pocket Starships, players can build and pilot several ships and forge alliances on their quest for galactic domination. Players can perform or initiate various activities ranging from fighting pirates to participating in Faction Alerts. Starting in November, with the release of the expansion, those playing Pocket Starships will be able to explore new sectors and engage in exciting battles with the Borg, and will be able to staff their ships with their favorite Star Trek characters from the Star Trek TV series franchise – including The Next Generation, Deep Space Nine, and Voyager, through a trading card expansion.

 

The Company intends to utilize cash on hand to conduct its ongoing business, and to also conduct strategic business development, marketing analysis, due diligence investigations into possible acquisitions, and research and development and implementation of our business plans generally. The Company may also decide to diversify, through acquisition or otherwise, in other unrelated business areas if opportunities present themselves.

 

16 
 

COMPARISON OF THE SIX MONTHS ENDED JUNE 30, 2017 TO 2016

 

Prior period amounts have been adjusted to exclude discontinued operations (see note 6 of our condensed consolidated financial statements for additional information).

 

The consolidated results of continuing operations for the six months ended June 30, 2017 and 2016 are as follows:

 

   Digital Media  Corporate  Consolidated
          
Six Months Ended June 30, 2017               
Revenues  $84,000   $—     $84,000 
Labor and related expenses   551,000    1,127,000    1,678,000 
Rent   15,000    72,000    87,000 
Depreciation and amortization   22,000    23,000    45,000 
Professional fees   305,000    2,587,000    2,892,000 
Research and development   265,000    —      265,000 
Other general and administrative   587,000    116,000    703,000 
Operating loss   (1,661,000)   (3,925,000)   (5,586,000)
                
Other expense   —      (23,000)   (23,000)
Loss from continuing operations  $(1,661,000)  $(3,948,000)  $(5,609,000)
                
                
Six Months Ended June 30, 2016               
Revenues  $65,000   $—     $65,000 
Labor and related expenses   157,000    499,000    656,000 
Rent   —      67,000    67,000 
Depreciation and amortization   15,000    24,000    39,000 
Professional fees   138,000    400,000    538,000 
Research and development   183,000    —      183,000 
Other general and administrative   346,000    128,000    474,000 
Operating loss   (774,000)   (1,118,000)   (1,892,000)
                
Other income   —      —      —   
Income (loss) from continuing operations  $(774,000)  $(1,118,000)   (1,892,000)

  

Results of Operations - For the six months ended June 30, 2017 the Company had a loss from continuing operations of $5,609,000 compared to a loss from continuing operations of $1,892,000 for the six months ended June 30, 2016. This change is due primarily to restricted stock awards granted to employees and third party service providers recorded at fair value of $3,339,000 during the period ended June 30, 2017, compared to $338,000 during the corresponding period in 2016. Other items contributing to the change included increases in Labor and related costs settled in cash of $73,000. In professional fees settled in cash of $302,000, in research and development costs of $82,000, in other general and administrative expenses of $229,000, and decreases in other income and expenses of $30,000.

 

More detailed explanation of the six months ended June 30, 2017 and 2016 changes are included in the discussions following.

 

Total Revenues - Total revenues increased $19,000, to $84,000 from $65,000 for the six months ended June 30, 2017 compared to the six months ended June 30, 2016. Management plans to expand its mobile application and game development and monetization efforts and expects revenues to continued increasing in the coming months.

17 
 

 

The cost of labor increased $1,022,000 to $1,678,000 from $656,000 for the six months ended June 30, 2017 compared to the six months ended June 30, 2016. The cost of labor increased in our Digital Media Mobile Games Publishing and Advertising segment by $394,000. Of this amount, $92,000 was settled in cash and $302,000 was paid in restricted stock recorded at fair value. At the corporate level, cash compensation decreased by $20,000, while the amounts paid in restricted stock recorded at fair value increased by $648,000 for a net increase of $628,000. The remaining difference is attributed to hiring dates and changes in pay rates and the overall number of employees. The cost of labor is expected to increase in conjunction with expansion of the digital media operations.

 

The cost of rent increase $20,000 from $67,000 for the six months ended June 30, 2016 to $87,000 for the six months ended June 30, 2017. Beginning May 1, 2015, the Company moved into its new corporate offices in Denver, Colorado and began recording lease expense of $5,500 per month pursuant to this lease agreement. On October 1, 2015, we added additional square footage that more than doubled our administrative office space in Denver, increased our monthly lease expense to $11,725. Beginning September 1, 2016, we began leasing office space in Berlin, Germany on a month to month basis at a cost of EUR 250 plus 19% tax per person up to a maximum of 10 people. On June 29, 2017, we signed a new lease for the Berlin office space for EUR 3,750 per month beginning July 2017 through March 31st 2018. Berlin office is being used by leased employees hired by the Company for the marketing and user acquisition for the Pocket Starships game. Beginning October 17, 2016, we began leasing shared office for one employee in Redmond, Washington on a month to month basis at a cost of $225 per month per desk, increasing to $275 per month starting in December 2016.

 

Depreciation and amortization expenses increased by $6,000 for the six months ended June 30, 2017 compared to the six months ended June 30, 2016. This is attributable to certain of the Company’s office equipment, furniture and fixtures, and other fixed assets being fully depreciated, no new fixed asset purchases during the six months ended June 30, 2017, and reductions in the amount of capitalized licensing rights subject to amortization.

 

Professional fees increased $2,354,000 from $538,000 for the six months ended June 30, 2016 to $2,892,000 for the six months ended June 30, 2017. Professional fees during 2017 included $2,421,000 for investor and public relations, of which $417,000 was settled in cash and $2,004,000 was paid in restricted stock recorded at fair value, $64,000 for accounting and auditing services, $88,000 for legal fees, $303,000 for consulting and professional fees related to our digital media segment, of which $136,000 was settled in cash and $167,000 was paid in restricted stock recorded at fair value, and $16,000 for other professional service needs. Professional fees during 2016 $279,000 for investor and public relations, of which $169,000 was settled in cash and $110,000 was paid in restricted stock recorded at fair value, $70,000 for accounting and auditing services, $33,000 for legal fees, $132,000 for consulting and professional fees related to our digital media segment, of which $128,000 was settled in cash and $4,000 was paid in restricted stock recorded at fair value, and $24,000 for other professional service needs.

 

During the six months ended June 30, 2017, the Company incurred research and development costs of $265,000 in connection with fees paid to game developers, compared to $183,000 during the six months ended June 30, 2016.

 

Other general and administrative expenses increased $229,000 for the six months ended June 30, 2017 compared to the six months ended June 30, 2016. The increase can be attributed primarily to software licensing and publishing costs which increased by $208,000, and $21,000 in various other general and administrative cost increases.

 

The Company had unrealized losses on trading securities of $27,000 for the year ended June 30, 2017 compared to unrealized losses of $84,000 for the six months ended June 30, 2016. Unrealized gains and losses are the result of fluctuations in the quoted market price of the underlying securities.

 

The Company did not sell any trading securities during the six months ended June 30, 2017. The Company realized gains from the sale of trading securities of $74,000 for the six months ended June 30, 2016. Realized gains and losses are the difference between the selling prices and fair value of the underlying trading securities at the date of sale.

 

COMPARISON OF THE THREE MONTHS ENDED JUNE 30, 2017 TO 2016

 

Prior period amounts have been adjusted to exclude discontinued operations (see note 6 of our condensed consolidated financial statements for additional information).

 

18 
 

 
The consolidated results of continuing operations for the three months ended June 30, 2017 and 2016 are as follows:

 

   Digital Media  Corporate  Consolidated
          
Three Months Ended June 30, 2017               
Revenues  $32,000   $—     $32,000 
Labor and related expenses   168,000    140,000    308,000 
Rent   12,000    37,000    49,000 
Depreciation and amortization   19,000    11,000    30,000 
Professional fees   212,000    1,088,000    1,300,000 
Research and development   152,000    —      152,000 
Other general and administrative   315,000    55,000    370,000 
Operating loss   (846,000)   (1,331,000)   (2,177,000)
                
Other Expense   —      (11,000)   (11,000)
Loss from continuing operations  $(846,000)  $(1,342,000)  $(2,188,000)
                
                
Three Months Ended June 30, 2016               
Revenues  $30,000   $—     $30,000 
Labor and related expenses   86,000    134,000    220,000 
Rent   —      35,000    35,000 
Depreciation and amortization   7,000    13,000    20,000 
Professional fees   63,000    256,000    319,000 
Research and development   108,000    —      108,000 
Other general and administrative   234,000    79,000    313,000 
Operating loss   (468,000)   (517,000)   (985,000)
                
Other Expense   —      (155,000)   (155,000)
Loss from continuing operations  $(468,000)  $(672,000)  $(1,140,000)

 

Results of Operations - For the three months ended June 30, 2017 the Company had a loss from continuing operations of $2,188,000 compared to a loss from continuing operations of $1,140,000 for the three months ended June 30, 2016. This change is due primarily to restricted stock awards granted to employees and third party service providers recorded at fair value of $979,000 during the period ended June 30, 2017, compared to $80,000 during the corresponding period in 2016. Other items contributing to the change included increases in Labor and related costs settled in cash of $82,000. In professional fees settled in cash of $88,000, in research and development costs of $44,000, in other general and administrative expenses of $79,000, and decreases in other income and expenses of $144,000.

 

More detailed explanation of the three months ended June 30, 2017 and 2016 changes are included in the discussions following.

 

Total Revenues - Total revenues increased $2,000, to $32,000 from $30,000 for the three months ended June 30, 2017 compared to the three months ended June 30, 2016. Management plans to expand its mobile application and game development and monetization efforts and expects revenues to continued increasing in the coming months.

 

The cost of labor increased $88,000 to $308,000 from $220,000 for the three months ended June 30, 2017 compared to the three months ended June 30, 2016. The cost of labor increased in our Digital Media Mobile Games Publishing and Advertising segment by $82,000. Of this amount, $76,000 was settled in cash and $6,000 was paid in restricted stock recorded at fair value. At the corporate level, cash compensation increased by $6,000, with no amounts paid in restricted stock recorded at fair value. The remaining difference is attributed to hiring dates and changes in pay rates and the overall number of employees. The cost of labor is expected to increase in conjunction with expansion of the digital media operations.

 

19 
 

The cost of rent increase $14,000 from $35,000 for the three months ended June 30, 2016 to $49,000 for the three months ended June 30, 2017. Beginning May 1, 2015, the Company moved into its new corporate offices in Denver, Colorado and began recording lease expense of $5,500 per month pursuant to this lease agreement. On October 1, 2015, we added additional square footage that more than doubled our administrative office space in Denver, increased our monthly lease expense to $11,725. Beginning September 1, 2016, we began leasing office space in Berlin, Germany on a month to month basis at a cost of EUR 250 plus 19% tax per person up to a maximum of 10 people. On June 29, 2017, we signed a new lease for the Berlin office space for EUR 3,750 per month beginning July, 2017 through March 31st 2018. The Berlin office is being used by leased employees hired by the Company for the marketing and user acquisition for the Pocket Starships game. Beginning October 17, 2016, we began leasing shared office for one employee in Redmond, Washington on a month to month basis at a cost of $225 per month per desk, increasing to $275 per month starting in December 2016.

 

Depreciation and amortization expenses increased by $10,000 for the three months ended June 30, 2017 compared to the three months ended June 30, 2016. This is attributable to certain of the Company’s office equipment, furniture and fixtures, and other fixed assets being fully depreciated, no new fixed asset purchases during the three months ended June 30, 2017, and reductions in the amount of capitalized licensing rights subject to amortization.

 

Professional fees increased $981,000 from $319,000 for the three months ended June 30, 2016 to $1,300,000 for the three months ended June 30, 2017. Professional fees during 2017 included $1,014,000 for investor and public relations, of which $172,000 was settled in cash and $842,000 was paid in restricted stock recorded at fair value, $14,000 for accounting and auditing services, $51,000 for legal fees, $213,000 for consulting and professional fees related to our digital media segment, of which $91,000 was settled in cash and $122,000 was paid in restricted stock recorded at fair value, and $8,000 for other professional service needs. Professional fees during 2016 $209,000 for investor and public relations, of which $148,000 was settled in cash and $61,000 was paid in restricted stock recorded at fair value, $21,000 for accounting and auditing services, $20,000 for legal fees, $57,000 for consulting and professional fees related to our digital media segment, of which $53,000 was settled in cash and $4,000 was paid in restricted stock recorded at fair value, and $12,000 for other professional service needs.

 

During the three months ended June 30, 2017, the Company incurred research and development costs of $152,000 in connection with fees paid to game developers, compared to $108,000 during the three months ended June 30, 2016.

 

Other general and administrative expenses increased $57,000 for the three months ended June 30, 2017 compared to the three months ended June 30, 2016. The increase can be attributed primarily to software licensing and publishing costs which increased by $110,000, and decreases of $53,000 in various other general and administrative cost increases.

 

The Company had unrealized losses on trading securities of $12,000 for the year ended June 30, 2017 compared to unrealized losses of $185,000 for the three months ended June 30, 2016. Unrealized gains and losses are the result of fluctuations in the quoted market price of the underlying securities.

 

The Company did not sell any trading securities during the three months ended June 30, 2017. The Company realized gains from the sale of trading securities of $25,000 for the three months ended June 30, 2016. Realized gains and losses are the difference between the selling prices and fair value of the underlying trading securities at the date of sale.

 

LIQUIDITY AND CAPITAL RESOURCES

 

The Company has generated a net loss from continuing operations for the six months ended June 30, 2017 of $5,609,000. As of June 30, 2017, the Company had current assets of $1,429,000, which included cash and cash equivalents of $1,303,000, and trading securities of $32,000.

 

During the six months ended June 30, 2017 and 2016, the Company has met its capital requirements through a combination of collection of revenues, sale of restricted common stock and utilization of cash reserves.

 

Operating Activities - For the six months ended June 30, 2017, the Company used cash in operating activities of $2,151,000. For the six months ended June 30, 2016, the Company used cash in operating activities of $1,617,000. This increase is due primarily to our expansion efforts into the digital media publishing, advertising and gaming industry, the addition of new management and operations personnel and the resulting increases in operating expenses.

 

Investing Activities - During the six months ended June 30, 2017, the Company used cash of $50,000 for the purchase of software licensing rights. During the six months ended June 30, 2016. During the six months ended June 30, 2016, the Company used cash of $10,000 for the purchase of software licensing rights, used $510,000 in cash to purchase trading securities, received $280,000 in cash proceeds from sales of trading securities and used cash of $48,000 for the purchase of property plant and equipment.

 

20 
 

 

Financing Activities - During the six months ended June 30, 2017, the Company sold 750,000 shares of restricted common stock to a former officer/employee for $300,000. During the six months ended June 30, 2016, the Company sold 100,000 shares of restricted common stock to a service provider for $15,000.

 

During 2016 and 2017 we have invested in the Company’s future by working closely with the development team at Spectacle Games to optimize game play and expand the availability of the Pocket Starships to more users through new and existing game portals, social networking sites and app stores throughout the world. Management’s plan for the next 12 months is to build upon this foundation and focus our efforts on marketing and optimizing user acquisition and retention. We will also continue to provide the monthly advances to Spectacle for further development, enhancement and maintenance of the game as needed to meet the needs of the users and maximize revenue into the future. In addition to our plans for Pocket Starships, we will continue to seek additional games and apps to publish as we strive to broaden our range of products and increase revenues and operating cash flows. We expect these marketing, development and expansion plans will be financed through existing cash, operating cash flows from game revenues and other forms of financing such as the sale of additional equity and debt securities, capital leases and other credit facilities.

 

We estimate the Company currently has sufficient cash and liquidity to meet its working capital needs for its fiscal year 2017. Historically, we have financed our operations primarily through private sales of our trading securities or through sales of our common stock. If our sales goals for our products do not materialize as planned, we believe that the Company can reduce its operating and product development costs that would allow us to maintain sufficient cash levels to continue operations. However, if we are not able to achieve profitable operations at some point in the future, we may have insufficient working capital to maintain our operations as we presently intend to conduct them or to fund our expansion, marketing, and product development plans. There can be no assurance that we will be able to obtain such financing on acceptable terms, or at all.

 

Government Regulations - The Company is subject to all pertinent Federal, State, and Local laws governing its business. Each subsidiary is subject to licensing and regulation by a number of authorities in its State or municipality. These may include health, safety, and fire regulations. The Company's operations are also subject to Federal and State minimum wage laws governing such matters as working conditions, overtime and tip credits.

 

Critical Accounting Policies - The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Note 1 to the Consolidated Financial Statements describes the significant accounting policies and methods used in the preparation of the Consolidated Financial Statements. Estimates are used for, but not limited to, contingencies and taxes. Actual results could differ materially from those estimates. The following critical accounting policies are impacted significantly by judgments, assumptions, and estimates used in the preparation of the Consolidated Financial Statements.

 

Revenue Recognition

 

Through our wholly owned subsidiary SPYR APPS, LLC, we develop, publish and co-publish mobile games, and then generate revenue through those games by way of advertising and in-app purchases. The Company’s dedicated mobile gaming applications can be downloaded through the app stores maintained by Apple and Google. The Company’s cross platform gaming application which can be played on personal computers, Facebook and mobile devices, can be downloaded from the internet and Facebook as well as through the app stores maintained by Apple, Google and Amazon. The Company receives revenue from sale of advertising provided with games and through in-app purchases. The Company also receives revenue from publishing agreements entered into during 2015 for one mobile game and one cross platform game. The Company recognizes revenue using four basic criteria that must be met before revenue can be recognized: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the selling price is fixed and determinable; and (4) collectability is reasonably assured, which is typically after receipt of payment and delivery.

 

21 
 

 

Stock-Based Compensation

 

The Company periodically issues stock options and warrants to employees and non-employees in non-capital raising transactions for services and for financing costs. The Company accounts for stock option and warrant grants issued and vesting to employees based on the authoritative guidance provided by the Financial Accounting Standards Board (FASB) whereas the value of the award is measured on the date of grant and recognized over the vesting period. The Company accounts for stock option and warrant grants issued and vesting to non-employees in accordance with the authoritative guidance of the FASB whereas the value of the stock compensation is based upon the measurement date as determined at either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete. Non-employee stock-based compensation charges generally are amortized over the vesting period on a straight-line basis. In certain circumstances where there are no future performance requirements by the non-employee, option grants are immediately vested and the total stock-based compensation charge is recorded in the period of the measurement date.

 

The fair value of the Company's stock option and warrant grants is estimated using the Black-Scholes Option Pricing model, which uses certain assumptions related to risk-free interest rates, expected volatility, expected life of the stock options or warrants, and future dividends. Compensation expense is recorded based upon the value derived from the Black-Scholes Option Pricing model, and based on actual experience. The assumptions used in the Black-Scholes Option Pricing model could materially affect compensation expense recorded in future periods.

 

The Company also issues restricted shares of its common stock for share-based compensation programs to employees and non-employees. The Company measures the compensation cost with respect to restricted shares to employees based upon the estimated fair value at the date of the grant, and is recognized as expense over the period which an employee is required to provide services in exchange for the award. For non-employees, the Company measures the compensation cost with respect to restricted shares based upon the estimated fair value at measurement date which is either a) the date at which a performance commitment is reached, or b) at the date at which the necessary performance to earn the equity instruments is complete.

 

Recent Accounting Pronouncements

 

See Note 1 of the condensed consolidated financial statements for discussion of recent accounting pronouncements.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

 

Not applicable.

 

ITEM 4. CONTROLS AND PROCEDURES

 

Disclosure Controls and Procedures

 

Management of the Company is responsible for maintaining disclosure controls and procedures that are designed to ensure that financial information required to be disclosed in the reports that the Company files or submits under the Securities Exchange Act of 1934 (the “Exchange Act”) is recorded, processed, summarized and reported within the timeframes specified in the Securities and Exchange Commission’s rules and forms, consistent with Items 307 and 308 of Regulation S-K.

 

In addition, the disclosure controls and procedures must ensure that such financial information is accumulated and communicated to the Company’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required financial and other required disclosures.

 

As of June 30, 2017, an evaluation of the effectiveness of the Company’s disclosure controls and procedures (as defined in Rules 13(a)-15(e) and 15(d)-15(e) of the Securities Exchange Act of 1934 (the “Exchange Act”) was carried out under the supervision and with the participation of our Chief Executive Officer, Chief Financial Officer, and other persons carrying out similar functions for the Company. Based on the evaluation of the Company’s disclosure controls and procedures, the Company concluded that during the period covered by this report, such disclosure controls and procedures were effective.

 

The Company continues to employ and refine a structure in which critical accounting policies, issues and estimates are identified, and together with other complex areas, are subject to multiple reviews by accounting personnel. In addition, the Company evaluates and assesses its internal controls and procedures regarding its financial reporting, utilizing standards incorporating applicable portions of the Public Company Accounting Oversight Board’s 2009 Guidance for Smaller Public Companies in Auditing Internal Controls Over Financial Reporting as necessary and on an on-going basis.

 

22 
 

Changes in Internal Controls Over Financial Reporting

 

The Company has no reportable changes to its internal controls over financial reporting for the period covered by this report.

 

The Company will continually enhance and test its internal controls over financial reporting. Additionally, the Company’s management, under the control of its Chief Executive Officer and Chief Financial Officer, will increase its review of its disclosure controls and procedures on an ongoing basis. Finally, the Company plans to designate, in conjunction with its Chief Financial Officer, individuals responsible for identifying reportable developments and the process for resolving compliance issues related to them. The Company believes these actions will focus necessary attention and resources in its internal accounting functions.

 

PART II - OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS

 

On October 14, 2015, the Company was named as a defendant in a case filed in the United States District Court for the District of Delaware captioned: Zakeni Limited v. SPYR, Inc., f/k/a Eat at Joe’s., Ltd. The suit relates to the Company’s issuance of two convertible debentures in the aggregate principal amount of $1,500,000 in 1998. The plaintiff is seeking payment or conversion of said convertible debentures together with accrued interest and unspecified damages. The Company believes the claim is not a valid debt and is vigorously defending this lawsuit. On December 4, 2015, the Company filed a motion to dismiss the suit based on the statute of limitations. In evaluating a motion to dismiss, the Court is only allowed to view the allegations set forth in the plaintiff’s complaint and documents referenced therein, must assume that those allegations are true, and must construe all evidence contained in the referenced documents in a light most favorable to the plaintiff. On August 24, 2016, under this standard, the Court determined that the legal requirements to grant the motion to dismiss had not been fully satisfied and denied the Company’s Motion to Dismiss. Accordingly, no final determinations regarding liability have been made, the case will proceed to be litigated in the normal course, and, if the Company elects, it will have the ability to again present its arguments for dismissal prior to trial through a motion for summary judgment, which will allow for a determination to be made based on a legal standard that is slightly less favorable to the plaintiff. If that motion is denied, the Company will still have the opportunity to present all of its arguments and defenses at trial, at which Zakeni will have to prove its case by a preponderance of the evidence. The case is scheduled for trial on July 16, 2018. Based upon available information at this very early stage of litigation, it is still the belief of management and opinion of in-house counsel that the Company will obtain a favorable ruling and no amount will be awarded to the plaintiff in this action. Accordingly, Management believes the likelihood of material loss resulting from this lawsuit to be remote.

 

ITEM 1A. RISK FACTORS

 

Not applicable to smaller reporting companies.

 

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

 

During April, May, and June 2017, the Company issued 750,000 restricted common shares to a former officer/employee of the company for cash of $300,000. These shares were recorded at fair value of $510,000 with $210,000 being recorded in the statement of operations and comprehensive income as part of professional fees for the three months ended June 30, 2017. The Company relied upon the Section 4(a)(2) exemption from registration provided by Rule 506(b) of Regulation D.

 

During April, May, and June 2017, the Company issued 1,155,000 restricted common shares pursuant to third party service agreements. These shares were recorded at fair value of $634,000 in the statement of operations and comprehensive income as part of professional fees for the six months ended June 30, 2017. The Company relied upon the Section 4(a)(2) exemption from registration provided by Rule 506(b) of Regulation D.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

 

None.

 

ITEM 4. MINE SAFETY DISCLOSURES

 

Not applicable

 

23 
 

ITEM 5. OTHER INFORMATION

 

None.

 

ITEM 6. EXHIBITS

 

The following exhibits are included as part of this report:

   

Exhibit

Number

Exhibit Description
3.1 Articles of Incorporation (1)
3.2 By-laws (1)
3.3 Amended Articles of Incorporation (1)
10.1 Lease Information Form between E.A.J.: PHL, Airport Inc. and Marketplace Redwood Limited Partnership(1)
10.2 Registration of trade name for Eat at Joe's(1)
10.2 Registration Rights Agreement(1)
10.3 Franklin Networks Acquisition Agreement (1)
14 Code of Ethics (1)
21 Subsidiaries of the Company (1)
31** Certification Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32*** Certification Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS** XBRL Instance Document
101.SCH** XBRL Taxonomy Extension Schema Document
101.CAL** XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF** XBRL Taxonomy Extension Definition Linkbase Document
101.LAB** XBRL Taxonomy Extension Label Linkbase Document
101.PRE** XBRL Taxonomy Extension Presentation Linkbase Document

 

**       Filed herewith

***       Furnished Herewith

(1)       Incorporated by reference.

 

24 
 



SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Dated: August 14, 2017

  SPYR, INC.
     
By: /S/ James R. Thompson
    James R. Thompson
    President & Chief Executive Officer
    (Principal Executive Officer)
     
  By: /S/ Barry D. Loveless
    Barry D. Loveless
    Chief Financial Officer
    (Principal Financial and Accounting Officer)

25 

 

EX-31 2 ex311.htm EXHIBIT 31.1

EXHIBIT 31.1

 

RULE 13a-14(a)/15d-14(a) CERTIFICATION

 

I, James R. Thompson, certify that:

 

1.       I have reviewed this quarterly report on Form 10-Q for the quarter ended June 30, 2017 of SPYR, Inc.;

 

2.       Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.       Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.       The registrant’s other certifying officer(s) and I are responsible for establishing for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles,

 

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.       The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

August 14, 2017

 

  /S/ James R. Thompson
  James R. Thompson
  Chief Executive Officer
  (Principal Executive Officer)

 

 

1
EX-31 3 ex312.htm EXHIBIT 31.2

EXHIBIT 31.2

 

RULE 13a-14(a)/15d-14(a) CERTIFICATION

 

I, Barry D. Loveless, certify that:

 

1.       I have reviewed this quarterly report on Form 10-Q for the quarter ended June 30, 2017 of SPYR, Inc.;

 

2.       Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.       Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.       The registrant’s other certifying officer(s) and I are responsible for establishing for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a.Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles,

 

c.Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d.Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

5.       The registrants other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

August 14, 2017

 

  /s/ Barry D. Loveless
  Barry D. Loveless, Chief Financial Officer
  (Principal Financial and Accounting Officer)

 

1
EX-32 4 ex321.htm EXHIBIT 32.1

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of SPYR (the “Company”) on Form 10-Q for the quarter ended June 30, 2017 as filed with the Securities and Exchange Commission (the “Report”), I, James R. Thompson, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. SS. 1350, as adopted pursuant to SS. 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.       The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.       The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

 

August 14, 2017

 

  /S/ James R. Thompson
  James R. Thompson
  Chief Executive Officer
  (Principal Executive Officer)

 

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

 

1
EX-32 5 ex322.htm EXHIBIT 32.2

EXHIBIT 32.2

 

CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of SPYR, Inc. (the “Company”) on Form 10-Q for the quarter ended June 30, 2017 as filed with the Securities and Exchange Commission (the “Report”), I, Barry D. Loveless, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. SS. 1350, as adopted pursuant to SS. 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.       The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

 

2.       The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

 

August 14, 2017

 

  /S/ Barry D. Loveless
  Barry D. Loveless
  Chief Financial Officer
  (Principal Financial and Accounting Officer)

 

A signed original of this written statement required by Section 906, or other document authenticating, acknowledging, or otherwise adopting the signature that appears in typed form within the electronic version of this written statement has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

 

 

 

 

 

1
EX-101.INS 6 spyr-20170630.xml XBRL INSTANCE FILE 0000829325 us-gaap:FairValueEstimateNotPracticableCarryingReportedAmountMember 2016-12-31 0000829325 us-gaap:FairValueInputsLevel1Member 2016-12-31 0000829325 us-gaap:FairValueInputsLevel2Member 2016-12-31 0000829325 us-gaap:FairValueInputsLevel3Member 2016-12-31 0000829325 2017-01-01 2017-06-30 0000829325 us-gaap:FairValueEstimateNotPracticableCarryingReportedAmountMember 2017-06-30 0000829325 us-gaap:FairValueInputsLevel1Member 2017-06-30 0000829325 us-gaap:FairValueInputsLevel2Member 2017-06-30 0000829325 us-gaap:FairValueInputsLevel3Member 2017-06-30 0000829325 us-gaap:PreferredClassAMember 2017-06-30 0000829325 SPYR:PreferredClassEMember 2017-06-30 0000829325 us-gaap:TradingAccountAssetsMember 2017-01-01 2017-06-30 0000829325 2016-12-31 0000829325 us-gaap:PreferredClassAMember 2016-12-31 0000829325 SPYR:PreferredClassEMember 2016-12-31 0000829325 us-gaap:TradingAccountAssetsMember 2016-12-31 0000829325 us-gaap:StockOptionMember SPYR:ExercisePriceRangeDollarOneMember 2017-06-30 0000829325 us-gaap:StockOptionMember SPYR:ExercisePriceRangeDollarOneMember us-gaap:MinimumMember 2017-01-01 2017-06-30 0000829325 us-gaap:StockOptionMember SPYR:ExercisePriceRangeDollarOneMember us-gaap:MaximumMember 2017-01-01 2017-06-30 0000829325 us-gaap:StockOptionMember SPYR:ExercisePriceRangeDollarTwoPointFiveMember 2017-06-30 0000829325 us-gaap:StockOptionMember SPYR:ExercisePriceRangeDollarTwoPointFiveMember 2017-01-01 2017-06-30 0000829325 us-gaap:StockOptionMember SPYR:ExercisePriceRangeDollarFiveMember 2017-06-30 0000829325 us-gaap:StockOptionMember SPYR:ExercisePriceRangeDollarFiveMember 2017-01-01 2017-06-30 0000829325 us-gaap:WarrantMember 2017-01-01 2017-06-30 0000829325 us-gaap:WarrantMember 2016-12-31 0000829325 us-gaap:WarrantMember SPYR:ExercisePriceRangeDollarZeroPoinFiveMember 2017-06-30 0000829325 us-gaap:WarrantMember SPYR:ExercisePriceRangeDollarZeroPoinFiveMember 2017-01-01 2017-06-30 0000829325 SPYR:StockOptionsAndWarrantsMember us-gaap:MinimumMember 2017-01-01 2017-06-30 0000829325 SPYR:StockOptionsAndWarrantsMember us-gaap:MaximumMember 2017-01-01 2017-06-30 0000829325 SPYR:StockOptionsAndWarrantsMember 2017-01-01 2017-06-30 0000829325 2015-12-31 0000829325 us-gaap:WarrantMember SPYR:ExercisePriceRangeDollarOnePoinFiveMember 2017-06-30 0000829325 us-gaap:WarrantMember SPYR:ExercisePriceRangeDollarOnePoinFiveMember 2017-01-01 2017-06-30 0000829325 us-gaap:WarrantMember SPYR:ExercisePriceRangeDollarTwoMember 2017-06-30 0000829325 us-gaap:WarrantMember SPYR:ExercisePriceRangeDollarTwoMember 2017-01-01 2017-06-30 0000829325 2017-08-05 0000829325 2017-06-30 0000829325 2016-01-01 2016-06-30 0000829325 2017-04-01 2017-06-30 0000829325 2016-04-01 2016-06-30 0000829325 us-gaap:PreferredClassAMember 2017-01-01 2017-06-30 0000829325 us-gaap:PreferredClassAMember 2016-12-31 0000829325 us-gaap:PreferredClassAMember 2017-06-30 0000829325 SPYR:PreferredClassEMember 2017-01-01 2017-06-30 0000829325 SPYR:PreferredClassEMember 2016-12-31 0000829325 SPYR:PreferredClassEMember 2017-06-30 0000829325 us-gaap:CommonStockMember 2017-01-01 2017-06-30 0000829325 us-gaap:CommonStockMember 2016-12-31 0000829325 us-gaap:CommonStockMember 2017-06-30 0000829325 us-gaap:AdditionalPaidInCapitalMember 2017-01-01 2017-06-30 0000829325 us-gaap:AdditionalPaidInCapitalMember 2016-12-31 0000829325 us-gaap:AdditionalPaidInCapitalMember 2017-06-30 0000829325 us-gaap:RetainedEarningsMember 2017-01-01 2017-06-30 0000829325 us-gaap:RetainedEarningsMember 2016-12-31 0000829325 us-gaap:RetainedEarningsMember 2017-06-30 0000829325 2016-06-30 0000829325 us-gaap:TradingAccountAssetsMember 2017-06-30 0000829325 us-gaap:WarrantMember 2017-06-30 0000829325 us-gaap:SegmentDiscontinuedOperationsMember 2017-06-30 0000829325 us-gaap:SegmentDiscontinuedOperationsMember 2016-12-31 0000829325 us-gaap:SegmentDiscontinuedOperationsMember 2017-04-01 2017-06-30 0000829325 us-gaap:SegmentDiscontinuedOperationsMember 2016-04-01 2016-06-30 0000829325 us-gaap:SegmentDiscontinuedOperationsMember 2017-01-01 2017-06-30 0000829325 us-gaap:SegmentDiscontinuedOperationsMember 2016-01-01 2016-06-30 0000829325 us-gaap:PreferredClassAMember 2017-01-01 2017-06-30 0000829325 SPYR:PreferredClassEMember 2017-01-01 2017-06-30 0000829325 us-gaap:StockOptionMember 2017-01-01 2017-06-30 0000829325 us-gaap:WarrantMember 2017-01-01 2017-06-30 0000829325 SPYR:CommonStockOneMember 2016-01-01 2016-06-30 0000829325 us-gaap:PreferredClassAMember 2016-01-01 2016-06-30 0000829325 SPYR:PreferredClassEMember 2016-01-01 2016-06-30 0000829325 us-gaap:GeneralAndAdministrativeExpenseMember 2017-01-01 2017-06-30 0000829325 us-gaap:GeneralAndAdministrativeExpenseMember 2016-01-01 2016-06-30 0000829325 SPYR:LicensingAgreementsForIntellectualPropertyMember 2017-01-01 2017-06-30 0000829325 SPYR:LicensingAgreementsForGamingApplicationMember 2014-01-01 2016-12-31 0000829325 SPYR:LicensingAgreementsForGamingApplicationMember 2017-01-01 2017-06-30 0000829325 us-gaap:LicensingAgreementsMember 2017-01-01 2017-06-30 0000829325 us-gaap:LicensingAgreementsMember 2017-06-30 0000829325 us-gaap:LicensingAgreementsMember 2016-12-31 0000829325 us-gaap:PropertyPlantAndEquipmentMember 2017-01-01 2017-06-30 0000829325 us-gaap:PropertyPlantAndEquipmentMember 2016-01-01 2016-06-30 0000829325 us-gaap:RestrictedStockMember SPYR:ExistingShareholderAndFormerOfficerOrEmployeeMember 2017-01-01 2017-06-30 0000829325 us-gaap:CommonStockMember SPYR:EmployeesMember 2017-01-01 2017-06-30 0000829325 us-gaap:RestrictedStockMember SPYR:ConsultantsMember 2017-01-01 2017-06-30 0000829325 us-gaap:RestrictedStockMember SPYR:ConsultingAgreementMember 2015-02-01 2015-02-28 0000829325 SPYR:ConsultingAgreementMember 2016-01-01 2016-12-31 0000829325 SPYR:ConsultingAgreementMember 2016-12-31 0000829325 SPYR:ConsultingAgreementMember 2017-01-01 2017-06-30 0000829325 SPYR:ConsultingAgreementMember 2017-06-30 0000829325 us-gaap:StockOptionMember SPYR:ConsultantsMember 2017-01-01 2017-06-30 0000829325 us-gaap:StockOptionMember SPYR:ConsultantsMember 2017-06-30 0000829325 us-gaap:StockOptionMember 2017-06-30 0000829325 us-gaap:StockOptionMember 2017-01-01 2017-06-30 0000829325 us-gaap:WarrantMember 2017-03-01 2017-03-31 0000829325 SPYR:ZakeniLimitedVersusSPYRIncMember 2015-10-13 2015-10-14 0000829325 us-gaap:SubsequentEventMember us-gaap:CommonStockMember SPYR:ThirdPartyServiceProvidersMember 2017-07-01 2017-08-14 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure 0000829325 10-Q 2017-06-30 false --12-31 No No Yes Smaller Reporting Company Q2 2017 SPYR, Inc. 157637026 162352026 157637026 162352026 107636 20000 107636 20000 107636 107636 20000 20000 59000 59000 32000 32000 59000 32000 11 2 3684000 11 2 1610000 11 11 2 2 15763 16235 34752224 38390752 -31084000 -36797000 45000 39000 30000 20000 5000 18000 20000 37000 23000 39000 95000 95000 68000 68000 36000 36000 36000 36000 -5713000 -1952000 -2256000 -1139000 -5713000 162422026 74000 265000 183000 152000 108000 20833 500000 720000 20833 0.50 0.50 12900000 6120000 2.83 3.27 1.00 3.97 1870000 1250000 3000000 200000 500000 500000 6120000 1200000 P6M P3Y7M10D P1Y6M P2Y6M P3M29D P1Y6M P1Y6M 1.00 2.50 5.00 3.27 1590000 750000 2500000 4840000 1.00 2.50 5.00 3.30 200000 1200000 1000000 1000000 1200000 0.33 1.54 1.50 1.54 P1Y9M P3Y11M1D 1.27 1.58 0.0126 0.0160 59000 32000 84000 65000 32000 30000 109000 345000 421000 642000 -5586000 -1892000 -2177000 -985000 -49000 1000 -85000 -56000 3860000 1911000 12000 97000 18000 16000 181000 158000 6000 30000 3569000 1429000 7500000 0.50 1.50 2.00 176000 301000 37000 58000 25000 176000 276000 58000 37000 100000 118000 139000 37000 58000 47000 8000 5000 5000 2000 17000 40000 295000 50000 4000 25000 69000 25000 31000 21000 200000 15763 16235 34752224 38390752 -31084000 -36797000 11 2 3860000 11 2 1911000 11 2 13 11 2 13 0.0001 0.0001 0.0001 0.0001 0.0001 0.0001 10000000 10000000 10000000 10000000 10000000 10000000 107636 20000 107636 20000 0.0001 0.0001 250000000 250000000 157637026 162352026 -104000 -60000 -68000 1000 -5609000 -1892000 -2188000 -1140000 -68000 1000 -104000 -56000 -23000 -11000 -155000 74000 25000 -27000 -84000 -12000 -185000 4000 10000 1000 5000 5670000 1957000 2209000 1015000 123000 248000 372000 505000 703000 474000 370000 313000 39000 53000 89000 102000 2892000 538000 1300000 319000 3000 3000 3000 3000 87000 67000 49000 35000 21000 57000 82000 129000 1678000 656000 308000 220000 55000 117000 178000 234000 160321114 152838539 160846474 152564198 -0.04 -0.01 -0.01 -0.01 -0.04 -0.01 -0.01 -0.01 750000 750000 210000 210000 1250000 1250000 847000 125 846875 847000 300000 75 299925 300000 2715000 2715000 70000 1699000 272 1698728 1699000 26000 537000 537000 46000 46000 100000 3204000 6904000 1303000 5014000 -1901000 -1890000 300000 15000 300000 15000 -50000 -288000 48000 280000 510000 50000 10000 -2151000 -1617000 64000 25000 -2215000 -1642000 -7000 21000 -21000 -21000 -4000 44000 36000 -25000 8000 -100000 -10000 13000 -9000 2000 46000 68000 1909000 70000 847000 200000 537000 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES </u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Interim Financial Statements</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) and applicable rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the SEC. The condensed consolidated balance sheet as of December 31, 2016 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including notes, required by GAAP.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to fairly present the Company's financial position and results of operations for the interim periods reflected. Except as noted, all adjustments contained herein are of a normal recurring nature. Results of operations for the fiscal periods presented herein are not necessarily indicative of fiscal year-end results.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The condensed consolidated financial statements and all relevant footnotes have been adjusted as of the earliest period presented to reflect the discontinued operations (see Note 6).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Organization</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company was incorporated as Conceptualistics, Inc. on January 6, 1988 in Delaware. Subsequent to its incorporation, the Company changed its name to Eat at Joe&#8217;s, Ltd. In February 2015, the Company changed its name to SPYR, Inc. and adopted a new ticker symbol &#8220;SPYR&#8221; effective March 12, 2015.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Nature of Business</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The primary focus of SPYR, Inc. (the &#8220;Company&#8221;) is to act as a holding company and develop a portfolio of profitable subsidiaries, not limited by any particular industry or business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Through our wholly owned subsidiaries, SPYR APPS, LLC and SPYR APPS, Oy, we operate our mobile games and applications business. The focus of the SPYR APPS subsidiaries is the development and publication of our own mobile games as well as the publication of games developed by third-party developers. As of October 5, 2016, SPYR APPS, Oy ceased business activities and began the dissolution process, which dissolution we expect should be completed before the end of the year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Through our other wholly owned subsidiary, E.A.J.: PHL Airport, Inc., we owned and operated the restaurant &#8220;Eat at Joe&#8217;s&#174;,&#8221; which was located in the Philadelphia International Airport since 1997. Our lease in the Philadelphia Airport expired in April 2017. Concurrent with expiration of the lease the restaurant closed. Our plan is to complete a tax free exchange of our intellectual property related to our restaurant operations, including the registered trademark: &#8220;Eat at Joe&#8217;s<sup>&#174;</sup>,&#8221; and related furniture, fixtures and equipment to our wholly owned subsidiary, Branded Foods Concepts, Inc. (&#8220;Branded Foods&#8221;), in exchange for common shares of Branded Foods, which will be issued to our shareholders of record as of May 19, 2017, resulting in our qualifying shareholders receiving one share of Branded Foods common stock for every share of our common stock beneficially owned as of the record date. We expect Branded Foods will concurrently register its common stock under Section 12g of the Securities Act on Form 10 and thereafter become a fully reporting independent company. Pursuant to current accounting guidelines, the assets and liabilities of EAJ as well as the results of its operations were presented in these financial statements as discontinued operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Principles of Consolidation</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements include the accounts of SPYR, Inc. and its wholly-owned subsidiaries, SPYR APPS, LLC, a Nevada Limited Liability Company, and SPYR APPS, Oy, a Finnish Limited Liability Company, E.A.J.: PHL, Airport Inc., a Pennsylvania corporation (discontinued operations, see Note 6), and Branded Foods Concepts, Inc., a Nevada corporation. Intercompany accounts and transactions have been eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Liquidity</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt TimesNewRomanPSMT,serif; margin: 0; text-align: justify">The accompanying financial statements have been prepared under the assumption that the Company will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. For the six months ended June 30, 2017, the Company recorded a net loss from continuing operations of $5,609,000 and utilized cash in continuing operations of $2,215,000. As of June 30, 2017, our cash balance was $1,303,000 and we had trading securities of $32,000.</p> <p style="font: 10pt TimesNewRomanPSMT,serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: TimesNewRomanPSMT,serif">The Company&#8217;s restaurant, Eat At Joes closed in April 2017, concurrent with the expiration of the lease. </font>However, the Company plans to expand its mobile games and application development and publishing activities, such as Pocket Starships, through acquisition and/or development of its own intellectual property and publishing agreements with developers.</p> <p style="font: 10pt TimesNewRomanPSMT,serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt TimesNewRomanPSMT,serif; margin: 0; text-align: justify">We estimate the Company currently has sufficient cash and liquidity to meet its working capital needs for its fiscal year 2017. Historically, we have financed our operations primarily through private sales of our trading securities or through sales of our common stock. If our sales goals for our products do not materialize as planned, we believe that the Company can reduce its operating and product development costs that would allow us to maintain sufficient cash levels to continue operations. However, if we are not able to achieve profitable operations at some point in the future, we may have insufficient working capital to maintain our operations as we presently intend to conduct them or to fund our expansion, marketing, and product development plans. There can be no assurance that we will be able to obtain such financing on acceptable terms, or at all.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Use of Estimates</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions used by management affected impairment analysis for fixed assets, intangible assets, amounts of potential liabilities and valuation of issuance of equity securities. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Earnings (Loss) Per Share</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s computation of earnings (loss) per share (EPS) includes basic and diluted EPS. Basic EPS is calculated by dividing the Company&#8217;s net income (loss) available to common stockholders by the weighted average number of common shares during the period. Diluted EPS reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income (loss) of the Company. In computing diluted EPS, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Shares of restricted stock are included in the basic weighted average number of common shares outstanding from the time they vest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The basic and fully diluted shares for the six months ended June 30, 2017 are the same because the inclusion of the potential shares (Class A &#8211; 26,909,028, Class E &#8211; 185,874, Options &#8211; 6,120,000, Warrants &#8211; 1,200,000) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2017.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The basic and fully diluted shares for the six months ended June 30, 2016 are the same because the inclusion of the potential shares (Non-vested Common &#8211; 154,166, Class A &#8211; 26,909,028, Class E &#8211; 365,738) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2016.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Software Licensing and Publication Costs</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Software licensing and publishing costs pertain to non-refundable <font style="font-family: Times New Roman, Times, Serif">payments made to independent gaming software developers pursuant to licensing agreements. The payments are intended to assist gaming software developers in the </font>marketing and further development of gaming software applications.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Software licensing and publication costs were $501,000 and $195,000 for the six months ended June 30, 2017 and 2016, respectively, and was reflected as part of general and administrative expenses on the accompanying condensed consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Capitalized Licensing Rights</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Capitalized licensing rights represent fees paid to intellectual property rights holders for use of their trademarks, copyrights, software, technology, music or other intellectual property or proprietary rights in the development of our products. Depending upon the agreement with the rights holder, we may obtain the right to use the intellectual property in multiple products over a number of years, or alternatively, for a single product.</p> <p style="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Significant management judgments and estimates are utilized in assessing the recoverability of capitalized costs. In evaluating the recoverability of capitalized costs, the assessment of expected product performance utilizes forecasted sales amounts and estimates of additional costs to be incurred. If revised forecasted or actual product sales are less than the originally forecasted amounts utilized in the initial recoverability analysis, the net realizable value may be lower than originally estimated in any given quarter, which could result in an impairment charge. Material differences may result in the amount and timing of expenses for any period if management makes different judgments or utilizes different estimates in evaluating these qualitative factors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During 2017, the Company capitalized $175,000 pursuant to a licensing agreement for the non-exclusive, limited right to incorporate certain intellectual property (IP) from various <i>STAR TREK </i>television series in to future updates to and expansions of the Pocket Starships game. The Company estimates that the IP will have an estimated life of 1.6 years, which approximates the term of the license. In addition, we also acquired the game titled Battlewack: Idle Lords for $100,000, pursuant to settlement with the game owner and developer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In a prior period, the Company capitalized $50,000 as a result of the acquisition of licensing rights of one gaming applications. The Company estimates that the gaming application will have an estimated life of five years, which approximates the term of the license.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended June 30, 2017, the Company recorded amortization expense of $20,000 pursuant to the terms of these licensing rights. As of June 30, 2017 and December 31, 2016, the unamortized capitalized licensing rights amounted to $295,000 and $40,000 respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Research and Development Costs</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs incurred for research and development are expensed as incurred. During the six months ended June 30, 2017 and 2016, the Company incurred $265,000 and $183,000 in research and development costs paid to <font style="font-family: Times New Roman, Times, Serif">independent gaming software developers.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Reclassifications</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">During the period ended June 30, 2016, the Company incurred $183,000 </font>in connection with fees paid to a game developer for the development of the Pocket Starships game that were accounted as part of Operating expenses. To conform with presentation adopted for the current period, the Company reclassified this amount as Research and Development expenses. <font style="font-family: Times New Roman, Times, Serif">The reclassification had no effect on total assets, total shareholder's equity, net loss or cash flows as previously presented.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Recent Accounting Standards</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, <i>Revenue from Contracts with Customers</i>. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. Entities will be able to transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of ASU 2014-09 on the Company&#8217;s financial statements and disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, <i>Leases</i>. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is in the process of evaluating the impact of ASU 2016-02 on the Company&#8217;s financial statements and disclosures.</p> <p style="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>NOTE 2 - TRADING SECURITIES</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s securities investments are bought and held principally for the purpose of selling them in the short term and are classified as trading securities. Trading securities are recorded at fair value based on quoted market prices (level 1) on the balance sheet in current assets, with the change in fair value during the period included in earnings as unrealized gains or losses in the statement of operations. Gains from the sales of such securities will be utilized to fund payment of obligations and to provide working capital for operations and to finance future growth, including, but not limited to: conducting our ongoing business, conducting strategic business development, marketing analysis, due diligence investigations into possible acquisitions, and research and development and implementation of the Company&#8217;s business plans generally.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investments in securities are summarized as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Fair Value at</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center"></td><td>&#160;</td> <td colspan="3" style="text-align: center"></td><td>&#160;</td> <td colspan="3" style="text-align: center"></td><td>&#160;</td> <td colspan="3" style="text-align: center"></td></tr> <tr style="vertical-align: bottom"> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Beginning of</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Proceeds from</td><td>&#160;</td> <td colspan="3" style="text-align: center">Gain on</td><td>&#160;</td> <td colspan="3" style="text-align: center">Unrealized</td><td>&#160;</td> <td colspan="3" style="text-align: center">Fair Value at</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Year</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"> Year</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Purchases</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Sale</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Sale</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Loss</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">June 30, 2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 11%; text-align: center">2017</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">59,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(27,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">32,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Realized gains and losses are determined on the basis of specific identification. During the six months ended June 30, 2017 and 2016, sales proceeds and gross realized gains and losses on trading securities were:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 5.4pt; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">June 30, <br /> 2017</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">June 30, <br /> 2016</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;&#160;Sales proceeds</td><td style="width: 8%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 26%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="width: 8%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 26%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">280,000</td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt">&#160;&#160;Gross realized (losses)</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;Gross realized gains</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">74,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;&#160;Gain (loss) on sale of trading securities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">74,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table discloses the assets measured at fair value on a recurring basis and the methods used to determine fair value:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td colspan="5" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fair Value Measurements at Reporting Date Using</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Quoted Prices</td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Significant</td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Significant</td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">in Active</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Other</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Unobservable</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fair Value at</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Markets</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Observable Inputs</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Inputs</td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">June 30, 2017</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 1)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 2)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 3)</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Trading securities</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;32,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;32,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> <tr style="background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Money market funds</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Total</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;68,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;68,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td colspan="5" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fair Value Measurements at Reporting Date Using</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Quoted Prices</td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Significant</td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Significant</td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">in Active</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Other</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Unobservable</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fair Value at</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Markets</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Observable Inputs</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Inputs</td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">December 31, 2016</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 1)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 2)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 3)</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Trading securities</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;59,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;59,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> <tr style="background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Money market funds</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Total</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;95,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;95,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value of the Company&#8217;s trading securities is determined by reference to quoted market prices (level 1). During the six months ended June 30, 2017, the Company recorded $27,000 in unrealized losses to account for the changes in fair value of its trading securities. During the six months ended June 30, 2016, the Company recorded $84,000 in unrealized gains to account for the changes in fair value of its trading securities.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>NOTE 3 &#8211; PROPERTY AND EQUIPMENT</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">June 30, <br /> 2017</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">December 31,<br /> 2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(Unaudited)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt">Equipment</td><td style="width: 8%; font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">130,000</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="width: 8%; font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">121,000</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt">Furniture &#38; fixtures</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">114,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">116,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Leasehold improvements</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">107,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">381,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">351,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">618,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Less: accumulated depreciation and amortization</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(193,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(437,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;&#160;&#160;Property and Equipment, Net</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">158,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">181,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Depreciation and amortization expense for the six months ended June 30, 2017 and 2016 was $23,000 and $39,000, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>NOTE 4 &#8211; EQUITY TRANSACTIONS</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Common Stock:</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the six months ended June 30, 2017, the Company issued an aggregate of 750,000 shares of restricted common stock to an existing shareholder and former officer/employee for cash of $300,000. The common shares had a fair value of $510,000 at the date of sale, and as a result, the Company reflected an additional expense of $210,000 to account the difference between the sale price and the fair market value of common shares sold.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the six months ended June 30, 2017, the Company issued an aggregate of 1,250,000 shares of restricted common stock to employees with a total fair value of $847,000 for services rendered. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $847,000 upon issuance. The shares issued were valued at the date earned under the respective agreements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the six months ended June 30, 2017, the Company issued an aggregate of 2,715,000 shares of restricted common stock to consultants with a total fair value of $1,699,000. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $1,699,000 upon issuance. The shares issued were valued at the date earned under the respective agreements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><u>Common Stock with Vesting Terms:</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes common stock with vesting terms activity:</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 5%">&#160;</td> <td nowrap="nowrap" style="width: 62%">&#160;</td> <td nowrap="nowrap" style="width: 13%">&#160;</td> <td nowrap="nowrap" style="width: 4%">&#160;</td> <td nowrap="nowrap" style="width: 2%">&#160;</td> <td nowrap="nowrap" style="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Average</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Number of </td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Grant Date</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Shares</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Fair Value</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">Non-vested, December 31, 2016</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">20,833&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">$</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.50</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Granted</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Vested</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">(20,833)</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.50</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Forfeited</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">Non-vested, June 30, 2017</td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">$</td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2015, the Company granted and issued 500,000 shares of its restricted common stock to a consultant pursuant to a consulting agreement. The 500,000 shares are forfeitable and are deemed earned upon completion of service over a period of twenty-four months. The Company recognizes the fair value of these shares as they vest. As of December 31, 2016, 479,167 of these shares had vested and 20,833 common shares unvested. During the six months ended June 30, 2017, the remaining 20,833 of these shares vested and as a result, the Company recognized compensation cost of $46,000. As of June 30, 2017, there were no unvested shares and no unearned compensation costs to be recorded.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">When calculating basic net income (loss) per share, these shares are included in weighted average common shares outstanding from the time they vest. When calculating diluted net income per share, these shares are included in weighted average common shares outstanding as of their grant date.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><u>Options</u></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes common stock options activity:</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 5%">&#160;</td> <td nowrap="nowrap" style="width: 63%">&#160;</td> <td nowrap="nowrap" style="width: 13%">&#160;</td> <td nowrap="nowrap" style="width: 4%">&#160;</td> <td nowrap="nowrap" style="width: 1%">&#160;</td> <td nowrap="nowrap" style="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Average</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Options</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Exercise Price</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">December 31, 2016</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">12,900,000&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">$</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">2.83&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Granted</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">720,000&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.00&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Exercised</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">-&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">-&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Cancelled</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">-&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">-&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Forfeited</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">(7,500,000)</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.97&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">Outstanding, June 30, 2017</td> <td nowrap="nowrap" style="border-bottom: Black 1.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6,120,000&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3.27&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">Exercisable, June 30, 2017</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4,840,000&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">$</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3.30&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended June 30, 2017, the Company granted stock options to consultants to purchase a total of 720,000 shares of common stock. A total of 440,000 options vested upon grant while the remaining 280,000 options will vest through February 2018 at a rate of 35,000 shares per month. The options are exercisable at $1.00 per share and will expire over 4 years. The fair values of the options are recorded at their respective grant dates computed using the Black-Scholes Option Pricing Model. During the six months ended June 30, 2017, the Company recognized $247,000 in compensation expense based upon the vesting of outstanding options. As of June 30, 2017 the unamortized compensation expense for unvested options was $167,000 which will be recognized over the vesting period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The weighted average exercise prices, remaining lives for options granted, and exercisable as of June 30, 2017, were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Outstanding Options</td> <td style="border-bottom: Black 1pt solid; text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Exercisable Options</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="width: 15%; text-align: center">Options</td> <td style="width: 1%; text-align: right">&#160;</td> <td style="width: 15%; text-align: center">&#160;</td> <td style="width: 1%; text-align: center">&#160;</td> <td style="width: 14%; text-align: center">&#160;</td> <td style="width: 1%; text-align: center">&#160;</td> <td style="width: 23%; text-align: center">Weighted</td> <td style="width: 1%; text-align: center">&#160;</td> <td style="width: 12%; text-align: center">&#160;</td> <td style="width: 1%; text-align: center">&#160;</td> <td style="width: 16%; text-align: center">Weighted</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">Exercise Price</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">Life</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">Average Exercise</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">Average Exercise</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: center">Per Share</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Shares</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">(Years)</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Price</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Shares</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Price</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: center">$1.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">1,870,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">0.50 &#8211; 3.61</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$1.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">1,590,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$1.00</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">$2.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">1,250,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">1.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$2.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">750,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$2.50</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: center">$5.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">3,000,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">2.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$5.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">2,500,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$5.00</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right">6,120,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$3.27</td> <td style="text-align: right">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right">4,840,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$3.30</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At June 30, 2017, the Company&#8217;s closing stock price was $0.51 per share. As all outstanding options had an exercise price greater than $0.51 per share, there was no intrinsic value of the options outstanding at June 30, 2017.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Warrants:</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes common stock warrants activity:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Weighted</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Average</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Exercise</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Warrants</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Price</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 26%; text-align: left">December 31, 2016</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 26%; text-align: right">200,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 26%; text-align: right">0.33</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td><td style="text-align: left">Granted</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,000,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1.50</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#160;</td><td style="text-align: left">Exercised</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td><td style="text-align: left">Cancelled</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#160;</td><td style="text-align: left">Forfeited</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td><td style="text-align: left">Outstanding June 30, 2017</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,200,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1.54</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#160;</td><td style="text-align: left">Exercisable June 30, 2017</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,200,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1.54</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In March 2017, pursuant to an employee separation agreement, the Company granted warrants to purchase a total of 1,000,000 shares of restricted common stock with an exercise price of $1.50 and $2.00 which will expire December 31, 2018. The warrants are fully vested and exercisable upon grant. Total fair value of the warrants at grant date amounted to $290,000 computed using the Black-Scholes Option Pricing Model and was fully recognized on the date of grant.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of June 30, 2017, were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Outstanding and Exercisable Warrants </td> <td style="border-bottom: Black 1pt solid; text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="width: 33%; text-align: center">Warrants</td> <td style="width: 3%; text-align: right">&#160;</td> <td style="width: 30%; text-align: center">&#160;</td> <td style="width: 3%; text-align: center">&#160;</td> <td style="width: 28%; text-align: center">&#160;</td> <td style="width: 3%; text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">Exercise Price</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">Life</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: center">Per Share</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Shares</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">(Years)</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">$0.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">200,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">0.33</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: center">$1.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">500,000</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">1.50</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">$2.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">500,000</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">1.50</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right">1,200,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At June 30, 2017, the Company&#8217;s closing stock price was $0.51 per share and the aggregate intrinsic value of the warrants outstanding at June 30, 2017 was $2,000.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table below represents the average assumptions used in valuing the stock options and warrants granted in fiscal 2017:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">Six-Months Ended</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">June 30, 2017</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left; padding-left: 10pt">Expected life in years</td><td style="width: 10%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 18%; text-align: right">1.75 &#8211; 3.92</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Stock price volatility</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">127% - 158%</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Risk free interest rate</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1.26 % - 1.60%</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;&#160;&#160;&#160;Expected dividends</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Forfeiture rate</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The assumptions used in the Black Scholes models referred to above are based upon the following data: (1) the contractual life of the underlying non-employee options is the expected life. The expected life of the employee option is estimated by considering the contractual term of the option, the vesting period of the option, the employees&#8217; expected exercise behavior and the post-vesting employee turnover rate. (2) The expected stock price volatility was based upon the Company&#8217;s historical stock price over the expected term of the option. (3) The risk-free interest rate is based on published U.S. Treasury Department interest rates for the expected terms of the underlying options. (4) The expected dividend yield was based on the fact that the Company has not paid dividends to common shareholders in the past and does not expect to pay dividends to common shareholders in the future. (5) The expected forfeiture rate is based on historical forfeiture activity and assumptions regarding future forfeitures based on the composition of current grantees.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>NOTE 5 &#8211; COMMITMENTS AND CONTINGENCIES</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We are involved in certain legal proceedings that arise from time to time in the ordinary course of our business. Except for income tax contingencies, we record accruals for contingencies to the extent that our management concludes that the occurrence is probable and that the related amounts of loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. A material legal proceeding that is currently pending is as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 14, 2015, the Company was named as a defendant in a case filed in the United States District Court for the District of Delaware case: Zakeni Limited v. SPYR, Inc., f/k/a Eat at Joe&#8217;s., Ltd. The suit relates to the Company&#8217;s issuance of two convertible debentures in the aggregate principal amount of $1,500,000 in 1998. The plaintiff is seeking payment or conversion of said convertible debentures together with accrued interest and unspecified damages. The Company believes the claim is not a valid debt and is vigorously defending this lawsuit. On December 4, 2015, the Company filed a motion to dismiss the suit based on the statute of limitations. In evaluating a motion to dismiss, the Court is only allowed to view the allegations set forth in the plaintiff&#8217;s complaint and documents referenced therein, must assume that those allegations are true, and must construe all evidence contained in the referenced documents in a light most favorable to the plaintiff. On August 24, 2016, under this standard, the Court determined that the legal requirements to grant the motion to dismiss had not been fully satisfied and denied the Company&#8217;s Motion to Dismiss. Accordingly, no final determinations regarding liability have been made, the case will proceed to be litigated in the normal course, and, if the Company elects, it will have the ability to again present its arguments for dismissal prior to trial through a motion for summary judgment, which will allow for a determination to be made based on a legal standard that is slightly less favorable to the plaintiff. If that motion is denied, the Company will still have the opportunity to present all of its arguments and defenses at trial, at which Zakeni will have to prove its case by a preponderance of the evidence. The case is scheduled for trial on July 16, 2018. Based upon available information at this very early stage of litigation, it is still the belief of management and opinion of in-house counsel that the Company will obtain a favorable ruling and no amount will be awarded to the plaintiff in this action. Accordingly, Management believes the likelihood of material loss resulting from this lawsuit to be remote.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>NOTE 6 &#8211; DISCONTINUED OPERATIONS</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Through our other wholly owned subsidiary, E.A.J.: PHL Airport, Inc., we owned and operated the restaurant &#8220;Eat at Joe&#8217;s&#174;,&#8221; which was located in the Philadelphia International Airport since 1997. Our lease in the Philadelphia Airport expired in April 2017. Concurrent with expiration of the lease the restaurant closed. Pursuant to current accounting guidelines, the restaurant segment is reported as a discontinued operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the assets and liabilities of our former restaurant segment's discontinued operations as of June 30, 2017 and December 31, 2016:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">June 30, <br /> 2017</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">December 31,<br /> 2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Assets:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Accounts receivable, net</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">13,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">&#160;&#160;&#160;Inventory</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Prepaid expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Property and equipment, net</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">30,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;Other assets</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">17,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total Assets</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">97,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;Accounts payable and accrued liabilities</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">37,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">58,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total Liabilities</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">37,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">58,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the results of operations of our former restaurant segment for the three and six months ended June 30, 2017 and 2016 and is included in the condensed consolidated statements of operations as discontinued operations:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="text-align: center; border-bottom: Black 1pt solid">For the Three Months Ended<br /> June 30,</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="text-align: center; border-bottom: Black 1pt solid">For the Six Months Ended <br /> June 30,</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Revenues</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">109,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">345,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">421,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">642,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Cost of sales</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">35,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">96,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">134,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">193,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Gross Margin</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">74,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">249,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">287,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">449,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Labor and related expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">55,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">117,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">178,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">234,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">&#160;&#160;&#160;Rent</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">21,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">57,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">82,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">129,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Depreciation and amortization</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">18,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">20,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">37,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Professional fees</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;Other general and administrative</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">39,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">53,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">89,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">102,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total Operating Expenses</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">123,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">248,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">372,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">505,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Operating Income (Loss)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(49,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(85,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(56,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Other Income (Expense)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;Loss on disposal of assets</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(19,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(19,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Income (Loss) on discontinued operations</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(68,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(104,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(56,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes cash flow information from our former restaurant segment for the six months ended June 30, 2017 and 2016:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="text-align: center; border-bottom: Black 1pt solid">For the Six Months Ended June 30,</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Non-Cash operating items</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;Depreciation and amortization</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">20,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">37,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;Loss on disposal of assets</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">19,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;(Increase) decrease in accounts receivables</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">9,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(2,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;Decrease in inventory</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;(Increase) decrease in prepaid expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(8,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;Decrease in accounts payable and accrued liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(21,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(4,000</td><td style="text-align: left">)</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>NOTE 7 &#8211; SUBSEQUENT EVENTS</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subsequent to June 30, 2017, the Company issued an aggregate of 70,000 shares of common stock to third party service providers with a total fair value of $26,000 for services rendered. The shares issued are non-refundable and deemed earned upon issuance.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Interim Financial Statements</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;GAAP&#8221;) and applicable rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company&#8217;s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the SEC. The condensed consolidated balance sheet as of December 31, 2016 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including notes, required by GAAP.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to fairly present the Company's financial position and results of operations for the interim periods reflected. Except as noted, all adjustments contained herein are of a normal recurring nature. Results of operations for the fiscal periods presented herein are not necessarily indicative of fiscal year-end results.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The condensed consolidated financial statements and all relevant footnotes have been adjusted as of the earliest period presented to reflect the discontinued operations (see Note 6).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Organization</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company was incorporated as Conceptualistics, Inc. on January 6, 1988 in Delaware. Subsequent to its incorporation, the Company changed its name to Eat at Joe&#8217;s, Ltd. In February 2015, the Company changed its name to SPYR, Inc. and adopted a new ticker symbol &#8220;SPYR&#8221; effective March 12, 2015.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Nature of Business</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The primary focus of SPYR, Inc. (the &#8220;Company&#8221;) is to act as a holding company and develop a portfolio of profitable subsidiaries, not limited by any particular industry or business.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Through our wholly owned subsidiaries, SPYR APPS, LLC and SPYR APPS, Oy, we operate our mobile games and applications business. The focus of the SPYR APPS subsidiaries is the development and publication of our own mobile games as well as the publication of games developed by third-party developers. As of October 5, 2016, SPYR APPS, Oy ceased business activities and began the dissolution process, which dissolution we expect should be completed before the end of the year.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Through our other wholly owned subsidiary, E.A.J.: PHL Airport, Inc., we owned and operated the restaurant &#8220;Eat at Joe&#8217;s&#174;,&#8221; which was located in the Philadelphia International Airport since 1997. Our lease in the Philadelphia Airport expired in April 2017. Concurrent with expiration of the lease the restaurant closed. Our plan is to complete a tax free exchange of our intellectual property related to our restaurant operations, including the registered trademark: &#8220;Eat at Joe&#8217;s<sup>&#174;</sup>,&#8221; and related furniture, fixtures and equipment to our wholly owned subsidiary, Branded Foods Concepts, Inc. (&#8220;Branded Foods&#8221;), in exchange for common shares of Branded Foods, which will be issued to our shareholders of record as of May 19, 2017, resulting in our qualifying shareholders receiving one share of Branded Foods common stock for every share of our common stock beneficially owned as of the record date. We expect Branded Foods will concurrently register its common stock under Section 12g of the Securities Act on Form 10 and thereafter become a fully reporting independent company. Pursuant to current accounting guidelines, the assets and liabilities of EAJ as well as the results of its operations were presented in these financial statements as discontinued operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Principles of Consolidation</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The consolidated financial statements include the accounts of SPYR, Inc. and its wholly-owned subsidiaries, SPYR APPS, LLC, a Nevada Limited Liability Company, and SPYR APPS, Oy, a Finnish Limited Liability Company, E.A.J.: PHL, Airport Inc., a Pennsylvania corporation (discontinued operations, see Note 6), and Branded Foods Concepts, Inc., a Nevada corporation. Intercompany accounts and transactions have been eliminated.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><u>Liquidity</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt TimesNewRomanPSMT,serif; margin: 0; text-align: justify">The accompanying financial statements have been prepared under the assumption that the Company will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. For the six months ended June 30, 2017, the Company recorded a net loss from continuing operations of $5,609,000 and utilized cash in continuing operations of $2,215,000. As of June 30, 2017, our cash balance was $1,303,000 and we had trading securities of $32,000.</p> <p style="font: 10pt TimesNewRomanPSMT,serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: TimesNewRomanPSMT,serif">The Company&#8217;s restaurant, Eat At Joes closed in April 2017, concurrent with the expiration of the lease. </font>However, the Company plans to expand its mobile games and application development and publishing activities, such as Pocket Starships, through acquisition and/or development of its own intellectual property and publishing agreements with developers.</p> <p style="font: 10pt TimesNewRomanPSMT,serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt TimesNewRomanPSMT,serif; margin: 0; text-align: justify">We estimate the Company currently has sufficient cash and liquidity to meet its working capital needs for its fiscal year 2017. Historically, we have financed our operations primarily through private sales of our trading securities or through sales of our common stock. If our sales goals for our products do not materialize as planned, we believe that the Company can reduce its operating and product development costs that would allow us to maintain sufficient cash levels to continue operations. However, if we are not able to achieve profitable operations at some point in the future, we may have insufficient working capital to maintain our operations as we presently intend to conduct them or to fund our expansion, marketing, and product development plans. There can be no assurance that we will be able to obtain such financing on acceptable terms, or at all.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Use of Estimates</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions used by management affected impairment analysis for fixed assets, intangible assets, amounts of potential liabilities and valuation of issuance of equity securities. Actual results could differ from those estimates.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Earnings (Loss) Per Share</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s computation of earnings (loss) per share (EPS) includes basic and diluted EPS. Basic EPS is calculated by dividing the Company&#8217;s net income (loss) available to common stockholders by the weighted average number of common shares during the period. Diluted EPS reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income (loss) of the Company. In computing diluted EPS, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Shares of restricted stock are included in the basic weighted average number of common shares outstanding from the time they vest.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The basic and fully diluted shares for the six months ended June 30, 2017 are the same because the inclusion of the potential shares (Class A &#8211; 26,909,028, Class E &#8211; 185,874, Options &#8211; 6,120,000, Warrants &#8211; 1,200,000) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2017.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The basic and fully diluted shares for the six months ended June 30, 2016 are the same because the inclusion of the potential shares (Non-vested Common &#8211; 154,166, Class A &#8211; 26,909,028, Class E &#8211; 365,738) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2016.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Software Licensing and Publication Costs</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Software licensing and publishing costs pertain to non-refundable <font style="font-family: Times New Roman, Times, Serif">payments made to independent gaming software developers pursuant to licensing agreements. The payments are intended to assist gaming software developers in the </font>marketing and further development of gaming software applications.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Software licensing and publication costs were $501,000 and $195,000 for the six months ended June 30, 2017 and 2016, respectively, and was reflected as part of general and administrative expenses on the accompanying condensed consolidated statements of operations.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Capitalized Licensing Rights</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b>&#160;</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">Capitalized licensing rights represent fees paid to intellectual property rights holders for use of their trademarks, copyrights, software, technology, music or other intellectual property or proprietary rights in the development of our products. Depending upon the agreement with the rights holder, we may obtain the right to use the intellectual property in multiple products over a number of years, or alternatively, for a single product.</p> <p style="font: 13.5pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Significant management judgments and estimates are utilized in assessing the recoverability of capitalized costs. In evaluating the recoverability of capitalized costs, the assessment of expected product performance utilizes forecasted sales amounts and estimates of additional costs to be incurred. If revised forecasted or actual product sales are less than the originally forecasted amounts utilized in the initial recoverability analysis, the net realizable value may be lower than originally estimated in any given quarter, which could result in an impairment charge. Material differences may result in the amount and timing of expenses for any period if management makes different judgments or utilizes different estimates in evaluating these qualitative factors.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During 2017, the Company capitalized $175,000 pursuant to a licensing agreement for the non-exclusive, limited right to incorporate certain intellectual property (IP) from various <i>STAR TREK </i>television series in to future updates to and expansions of the Pocket Starships game. The Company estimates that the IP will have an estimated life of 1.6 years, which approximates the term of the license. In addition, we also acquired the game titled Battlewack: Idle Lords for $100,000, pursuant to settlement with the game owner and developer.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In a prior period, the Company capitalized $50,000 as a result of the acquisition of licensing rights of one gaming applications. The Company estimates that the gaming application will have an estimated life of five years, which approximates the term of the license.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the period ended June 30, 2017, the Company recorded amortization expense of $20,000 pursuant to the terms of these licensing rights. As of June 30, 2017 and December 31, 2016, the unamortized capitalized licensing rights amounted to $295,000 and $40,000 respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Research and Development Costs</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Costs incurred for research and development are expensed as incurred. During the six months ended June 30, 2017 and 2016, the Company incurred $265,000 and $183,000 in research and development costs paid to <font style="font-family: Times New Roman, Times, Serif">independent gaming software developers.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Reclassifications</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font-family: Times New Roman, Times, Serif">During the period ended June 30, 2016, the Company incurred $183,000 </font>in connection with fees paid to a game developer for the development of the Pocket Starships game that were accounted as part of Operating expenses. To conform with presentation adopted for the current period, the Company reclassified this amount as Research and Development expenses. <font style="font-family: Times New Roman, Times, Serif">The reclassification had no effect on total assets, total shareholder's equity, net loss or cash flows as previously presented.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><b><u>Recent Accounting Standards</u></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, <i>Revenue from Contracts with Customers</i>. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. Entities will be able to transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of ASU 2014-09 on the Company&#8217;s financial statements and disclosures.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, <i>Leases</i>. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is in the process of evaluating the impact of ASU 2016-02 on the Company&#8217;s financial statements and disclosures.</p> <p style="font: 10pt/11.4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investments in securities are summarized as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Fair Value at</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center"></td><td>&#160;</td> <td colspan="3" style="text-align: center"></td><td>&#160;</td> <td colspan="3" style="text-align: center"></td><td>&#160;</td> <td colspan="3" style="text-align: center"></td></tr> <tr style="vertical-align: bottom"> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Beginning of</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Proceeds from</td><td>&#160;</td> <td colspan="3" style="text-align: center">Gain on</td><td>&#160;</td> <td colspan="3" style="text-align: center">Unrealized</td><td>&#160;</td> <td colspan="3" style="text-align: center">Fair Value at</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Year</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid"> Year</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Purchases</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Sale</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Sale</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Loss</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">June 30, 2017</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 11%; text-align: center">2017</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">59,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 11%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(27,000</td><td style="width: 1%; text-align: left">)</td><td style="width: 2%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">32,000</td><td style="width: 1%; text-align: left">&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Realized gains and losses are determined on the basis of specific identification. During the six months ended June 30, 2017 and 2016, sales proceeds and gross realized gains and losses on trading securities were:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt; padding-left: 5.4pt; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">June 30, <br /> 2017</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">June 30, <br /> 2016</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;&#160;Sales proceeds</td><td style="width: 8%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 26%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="width: 8%; font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="width: 1%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 26%; border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">280,000</td><td style="width: 1%; padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt">&#160;&#160;Gross realized (losses)</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;Gross realized gains</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">74,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;&#160;Gain (loss) on sale of trading securities</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">74,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table discloses the assets measured at fair value on a recurring basis and the methods used to determine fair value:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td colspan="5" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fair Value Measurements at Reporting Date Using</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="width: 16%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 23%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Quoted Prices</td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Significant</td> <td style="width: 2%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Significant</td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">in Active</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Other</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Unobservable</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fair Value at</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Markets</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Observable Inputs</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Inputs</td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">June 30, 2017</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 1)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 2)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 3)</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Trading securities</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;32,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;32,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> <tr style="background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Money market funds</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Total</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;68,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;68,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td colspan="5" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fair Value Measurements at Reporting Date Using</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="width: 25%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Quoted Prices</td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Significant</td> <td style="width: 1%; padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="width: 17%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif; text-align: center">Significant</td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">in Active</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Other</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Unobservable</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Fair Value at</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Markets</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Observable Inputs</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Inputs</td></tr> <tr style="background-color: White"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">December 31, 2016</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 1)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 2)</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">(Level 3)</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Trading securities</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;59,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;59,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> <tr style="background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Money market funds</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;36,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Total</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;95,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;95,000 </td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td> <td nowrap="nowrap" style="padding-right: 5.4pt; padding-left: 5.4pt">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&#160;$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;-&#160;&#160;&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment consisted of the following:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">June 30, <br /> 2017</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center">&#160;</td> <td colspan="3" style="font: 10pt Times New Roman, Times, Serif; text-align: center; border-bottom: Black 1pt solid">December 31,<br /> 2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">(Unaudited)</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td><td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td><td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; font: 10pt Times New Roman, Times, Serif; padding-left: 5.4pt">Equipment</td><td style="width: 8%; font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">130,000</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="width: 8%; font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="width: 12%; font: 10pt Times New Roman, Times, Serif; text-align: right">121,000</td><td style="width: 1%; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 5.4pt">Furniture &#38; fixtures</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">114,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">116,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Leasehold improvements</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">107,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">381,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">351,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right">618,000</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Less: accumulated depreciation and amortization</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(193,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(437,000</td><td style="padding-bottom: 1pt; font: 10pt Times New Roman, Times, Serif; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">&#160;&#160;&#160;Property and Equipment, Net</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">158,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">181,000</td><td style="padding-bottom: 2.5pt; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes common stock with vesting terms activity:</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 5%">&#160;</td> <td nowrap="nowrap" style="width: 62%">&#160;</td> <td nowrap="nowrap" style="width: 13%">&#160;</td> <td nowrap="nowrap" style="width: 4%">&#160;</td> <td nowrap="nowrap" style="width: 2%">&#160;</td> <td nowrap="nowrap" style="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Average</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Number of </td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Grant Date</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Shares</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Fair Value</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">Non-vested, December 31, 2016</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">20,833&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">$</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.50</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Granted</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Vested</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">(20,833)</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">0.50</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Forfeited</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">Non-vested, June 30, 2017</td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">$</td> <td nowrap="nowrap" style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes common stock options activity:</p> <table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" style="width: 5%">&#160;</td> <td nowrap="nowrap" style="width: 63%">&#160;</td> <td nowrap="nowrap" style="width: 13%">&#160;</td> <td nowrap="nowrap" style="width: 4%">&#160;</td> <td nowrap="nowrap" style="width: 1%">&#160;</td> <td nowrap="nowrap" style="width: 14%; font: 10pt Times New Roman, Times, Serif; text-align: center">Weighted</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: center">Average</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Options</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">Exercise Price</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">December 31, 2016</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">12,900,000&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">$</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">2.83&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Granted</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">720,000&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">1.00&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Exercised</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">-&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">-&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Cancelled</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">-&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">-&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif">Forfeited</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">(7,500,000)</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">3.97&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">Outstanding, June 30, 2017</td> <td nowrap="nowrap" style="border-bottom: Black 1.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">6,120,000&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</td> <td nowrap="nowrap" style="border-bottom: Black 1.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3.27&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td nowrap="nowrap" colspan="2" style="font: 10pt Times New Roman, Times, Serif">Exercisable, June 30, 2017</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">4,840,000&#160;</td> <td nowrap="nowrap">&#160;</td> <td nowrap="nowrap" style="font: 10pt Times New Roman, Times, Serif; text-align: right">$</td> <td nowrap="nowrap" style="border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3.30&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The weighted average exercise prices, remaining lives for options granted, and exercisable as of June 30, 2017, were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Outstanding Options</td> <td style="border-bottom: Black 1pt solid; text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Exercisable Options</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="width: 15%; text-align: center">Options</td> <td style="width: 1%; text-align: right">&#160;</td> <td style="width: 15%; text-align: center">&#160;</td> <td style="width: 1%; text-align: center">&#160;</td> <td style="width: 14%; text-align: center">&#160;</td> <td style="width: 1%; text-align: center">&#160;</td> <td style="width: 23%; text-align: center">Weighted</td> <td style="width: 1%; text-align: center">&#160;</td> <td style="width: 12%; text-align: center">&#160;</td> <td style="width: 1%; text-align: center">&#160;</td> <td style="width: 16%; text-align: center">Weighted</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">Exercise Price</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">Life</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">Average Exercise</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">Average Exercise</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: center">Per Share</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Shares</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">(Years)</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Price</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Shares</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Price</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: center">$1.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">1,870,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">0.50 &#8211; 3.61</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$1.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">1,590,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$1.00</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">$2.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">1,250,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">1.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$2.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">750,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$2.50</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: center">$5.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">3,000,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">2.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$5.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">2,500,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$5.00</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right">6,120,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$3.27</td> <td style="text-align: right">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right">4,840,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">$3.30</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes common stock warrants activity:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Weighted</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Average</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: right">&#160;</td><td>&#160;</td> <td colspan="3" style="text-align: center">Exercise</td></tr> <tr style="vertical-align: bottom"> <td colspan="3" style="text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Warrants</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">Price</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 26%; text-align: left">December 31, 2016</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 26%; text-align: right">200,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 26%; text-align: right">0.33</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td><td style="text-align: left">Granted</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1,000,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1.50</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#160;</td><td style="text-align: left">Exercised</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td><td style="text-align: left">Cancelled</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#160;</td><td style="text-align: left">Forfeited</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;</td><td style="text-align: left">Outstanding June 30, 2017</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,200,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">1.54</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">&#160;</td><td style="text-align: left">Exercisable June 30, 2017</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">&#160;</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,200,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1.54</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of June 30, 2017, were as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Outstanding and Exercisable Warrants </td> <td style="border-bottom: Black 1pt solid; text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="width: 33%; text-align: center">Warrants</td> <td style="width: 3%; text-align: right">&#160;</td> <td style="width: 30%; text-align: center">&#160;</td> <td style="width: 3%; text-align: center">&#160;</td> <td style="width: 28%; text-align: center">&#160;</td> <td style="width: 3%; text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">Exercise Price</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">Life</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: center">Per Share</td> <td style="text-align: right">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">Shares</td> <td style="text-align: center">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: center">(Years)</td> <td style="text-align: center">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">$0.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">200,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">0.33</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: center">$1.50</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">500,000</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">1.50</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: center">$2.00</td> <td style="text-align: right">&#160;</td> <td style="text-align: right">500,000</td> <td style="text-align: right">&#160;</td> <td style="text-align: center">1.50</td> <td style="text-align: right">&#160;</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: right">&#160;</td> <td style="text-align: right">&#160;</td> <td style="border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right">1,200,000 </td> <td style="text-align: right">&#160;</td> <td style="text-align: center">&#160;</td> <td style="text-align: right">&#160;</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The table below represents the average assumptions used in valuing the stock options and warrants granted in fiscal 2017:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">Six-Months Ended</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">June 30, 2017</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left; padding-left: 10pt">Expected life in years</td><td style="width: 10%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 18%; text-align: right">1.75 &#8211; 3.92</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 10pt">Stock price volatility</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">127% - 158%</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Risk free interest rate</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">1.26 % - 1.60%</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">&#160;&#160;&#160;&#160;Expected dividends</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 10pt">Forfeiture rate</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr></table> -27000 437000 193000 618000 351000 381000 107000 116000 114000 121000 130000 720000 4840000 3.30 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the assets and liabilities of our former restaurant segment's discontinued operations as of June 30, 2017 and December 31, 2016:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">June 30, <br /> 2017</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">December 31,<br /> 2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Assets:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Accounts receivable, net</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">4,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">13,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">&#160;&#160;&#160;Inventory</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Prepaid expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Property and equipment, net</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">6,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">30,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;Other assets</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">2,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">17,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total Assets</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">12,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">97,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 5.4pt">Liabilities:</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;Accounts payable and accrued liabilities</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">37,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">58,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Total Liabilities</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">37,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">58,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes the results of operations of our former restaurant segment for the three and six months ended June 30, 2017 and 2016 and is included in the condensed consolidated statements of operations as discontinued operations:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="text-align: center; border-bottom: Black 1pt solid">For the Three Months Ended<br /> June 30,</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="text-align: center; border-bottom: Black 1pt solid">For the Six Months Ended <br /> June 30,</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3">&#160;</td><td>&#160;</td> <td colspan="3">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; padding-left: 5.4pt">Revenues</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">109,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">345,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">421,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">642,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt; padding-left: 5.4pt">Cost of sales</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">35,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">96,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">134,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">193,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Gross Margin</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">74,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">249,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">287,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">449,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">Expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Labor and related expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">55,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">117,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">178,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">234,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 5.4pt">&#160;&#160;&#160;Rent</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">21,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">57,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">82,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">129,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Depreciation and amortization</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">5,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">18,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">20,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">37,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;Professional fees</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;Other general and administrative</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">39,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">53,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">89,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">102,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Total Operating Expenses</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">123,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">248,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">372,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">505,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;Operating Income (Loss)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(49,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">1,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(85,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(56,000</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">Other Income (Expense)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">&#160;&#160;&#160;Loss on disposal of assets</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(19,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(19,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td> <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;&#160;&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Income (Loss) on discontinued operations</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(68,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,000</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(104,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td><td style="padding-bottom: 2.5pt">&#160;</td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">(56,000</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table summarizes cash flow information from our former restaurant segment for the six months ended June 30, 2017 and 2016:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif"> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="7" style="text-align: center; border-bottom: Black 1pt solid">For the Six Months Ended June 30,</td></tr> <tr style="vertical-align: bottom"> <td>&#160;</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2017</td><td style="padding-bottom: 1pt">&#160;</td> <td colspan="3" style="text-align: center; border-bottom: Black 1pt solid">2016</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">Non-Cash operating items</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;Depreciation and amortization</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">20,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td> <td style="width: 1%; text-align: left">&#160;</td><td style="width: 12%; text-align: right">37,000</td><td style="width: 1%; text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;Loss on disposal of assets</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">19,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;&#160;&#160;</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;(Increase) decrease in accounts receivables</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">9,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(2,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;Decrease in inventory</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">12,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">3,000</td><td style="text-align: left">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;(Increase) decrease in prepaid expenses</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">25,000</td><td style="text-align: left">&#160;</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(8,000</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 5.4pt">&#160;&#160;&#160;&#160;&#160;Decrease in accounts payable and accrued liabilities</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(21,000</td><td style="text-align: left">)</td><td>&#160;</td> <td style="text-align: left">&#160;</td><td style="text-align: right">(4,000</td><td style="text-align: left">)</td></tr></table> 12000 4000 13000 74000 249000 287000 449000 35000 96000 134000 193000 -12000 -3000 -19000 -19000 26909028 185874 6120000 1200000 154166 26909028 365738 501000 195000 175000 50000 295000 40000 P1Y7M6D P5Y 100000 20000 510000 210000 P24M 479167 20833 440000 46000 247000 290000 20833 0 0 167000 <p><font style="font-size: 10pt">A total of 440,000 options vested upon grant while the remaining 280,000 options will vest through February 2018 at a rate of 35,000 shares per month. The options are exercisable at $1.00 per share.</font></p> <p><font style="font-size: 10pt">All outstanding options had an exercise price greater than $0.51 per share.</font></p> <p><font style="font-size: 10pt">The Company granted warrants to purchase a total of 1,000,000 shares of restricted common stock with an exercise price of $1.50 and $2.00 which will expire December 31, 2018.</font></p> P4Y 0.51 0.51 2000 0 <p style="font: 10pt Times New Roman, Times, Serif">SPYR, Inc., f/k/a Eat at Joe&#146;s., Ltd</p> <p style="font: 10pt Times New Roman, Times, Serif">Zakeni Limited</p> <p style="font: 10pt Times New Roman, Times, Serif">Case filed in the United States District Court for the District of Delaware case</p> 1500000 <p style="font: 10pt Times New Roman, Times, Serif">The plaintiff is seeking payment or conversion of said convertible debentures together with accrued interest and unspecified damages.</p> 2018-07 125000 EX-101.SCH 7 spyr-20170630.xsd XBRL SCHEMA FILE 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - Condensed Consolidated Balance Sheets link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - Condensed Consolidated Statements Of Operations (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000006 - Statement - Condensed Consolidated Statements Of Cash Flows (Unaudited) link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - Organization And Summary Of Significant Accounting Policies link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - Trading Securities link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - Property And Equipment link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - Equity Transactions link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - Commitments And Contingencies link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - Discontinued Operations link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - Subsequent Events link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - Organization And Summary Of Significant Accounting Policies (Policies) link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - Trading Securities (Tables) link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - Property And Equipment (Tables) link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - Equity Transactions (Tables) link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - Discontinued Operations (Tables) link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - Trading Securities (Schedule Of Change In Investment In Securities) (Details) link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - Trading Securities (Schedule Of Gross Realized Gain/Loss) (Details) link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - Trading Securities (Schedule Of Fair Value Of Assets) (Details) link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - Property And Equipment (Details) link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - Equity Transactions (Summarizes Common Stock With Vesting Terms Activity) (Details) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - Equity Transactions (Summarizes Common Stock Options Activity) (Details) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - Equity Transactions (Schedule Of Weighted Average Excerise Price Range) (Details) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - Equity Transactions (Summarizes Common Stock Warrants Activity) (Details) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - Equity Transactions (Schedule Of Warrants Weighted Average Excerise Price Range) (Details) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - Equity Transactions (Schedule Of Assumptions Used In Valuing The Stock Options And Warrants) (Details) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - Discontinued Operations (Details) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - Organization And Summary Of Significant Accounting Policies (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - Property And Equipment (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - Equity Transactions (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - Commitments And Contingencies (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - Subsequent Events (Narrative) (Details) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 8 spyr-20170630_cal.xml XBRL CALCULATION FILE EX-101.DEF 9 spyr-20170630_def.xml XBRL DEFINITION FILE EX-101.LAB 10 spyr-20170630_lab.xml XBRL LABEL FILE Fair Value, Estimate Not Practicable, Disclosure Items [Axis] Fair Value [Member] Fair Value, Hierarchy [Axis] Fair Value Measurements At Reporting Date Using Quoted Prices in Active Markets (Level 1) [Member] Fair Value Measurements At Reporting Date Using Significant Other Observable Inputs (Level 2) [Member] Fair Value Measurements At Reporting Date Using Significant Unobservable Inputs (Level 3) [Member] Class of Stock [Axis] Class A Preferred Stock [Member] Class E Preferred Stock [Member] Asset Class [Axis] Trading Securities [Member] Award Type [Axis] Stock Options [Member] Exercise Price Range [Axis] Exercise Price Per Share $1.00 [Member] Range [Axis] Minimum [Member] Maximum [Member] Exercise Price Per Share $2.50 [Member] Exercise Price Per Share $5.00 [Member] Warrants [Member] Exercise Price Per Share $0.50 [Member] Stock Options And Warrants [Member] Exercise Price Per Share $1.50 [Member] Exercise Price Per Share $2.00 [Member] Equity Components [Axis] Common Stock [Member] Additional Paid-in Capital [Member] Accumulated Deficit [Member] Disposal Group Classification [Axis] Discontinued Operations From Former Restaurant Segment [Member] Antidilutive Securities [Axis] Non-Vested Common [Member] Income Statement Location [Axis] Other General And Administrative Expense [Member] Finite-Lived Intangible Assets by Major Class [Axis] Non-Exclusive Limited Right To Incorporate Intellectual Property [Member] One Gaming Applications [Member] Capitalized Licensing Rights [Member] Property, Plant and Equipment, Type [Axis] Property And Equipment [Member] Restricted Common Stock [Member] Title of Individual [Axis] Existing Shareholder And Former Officer / Employee [Member] Employees [Member] Supplier [Axis] Consultants [Member] Consulting Agreement [ Member] Litigation Case [Axis] Suit Relates To Issuance Of Convertible Debentures [Member] Subsequent Event Type [Axis] Subsequent Event [Member] Third Party Service Providers [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer? Is Entity a Voluntary Filer? Is Entity's Reporting Status Current? Entity Filer Category Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement [Table] Statement [Line Items] ASSETS Current Assets: Cash and cash equivalents Accounts receivable, net Other receivable Prepaid expenses Trading securities, at market value Current assets of discontinued operations Total Current Assets Property and equipment, net Intangible assets, net Capitalized licensing rights, net Other assets Non-current assets of discontinued operations TOTAL ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES Current Liabilities: Accounts payable and accrued liabilities Minimum Guaranteed Royalties Payable - current Current liabilities of discontinued operations Total Current Liabilities Minimum Guaranteed Royalties Payable - non-current Total Liabilities STOCKHOLDERS' EQUITY Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of June 30, 2017 and December 31, 2016 Common Stock, $0.0001 par value, 250,000,000 shares authorized 162,352,026 and 157,637,026 shares issued and outstanding as of June 30, 2017 and December 31, 2016 Additional paid-in capital Accumulated deficit Total Stockholders' Equity TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY Preferred stock, par value per share Preferred stock, shares authorized Preferred stock, shares issued Preferred stock, shares outstanding Common stock, par value per share Common stock, shares authorized Common stock, shares issued Common stock, shares outstanding Income Statement [Abstract] Revenues Expenses Labor and related expenses Rent Depreciation and amortization Professional fees Research and development Other general and administrative Total Operating Expenses Operating Loss Other Income (Expense) Interest and dividend income Unrealized loss on trading securities Gain on sale of marketable securities Total Other Expense Loss from continuing operations Income (Loss) on discontinued operations Net Loss Per Share Amounts Loss from continuing operations Basic and Diluted earnings per share Loss on discontinued operations Basic and Diluted earnings per share Net Loss Basic and Diluted earnings per share Weighted Average Common Shares Basic and Diluted Balance preferred stock, shares Balance common stock, shares Balance, value Common stock issued for cash, shares Common stock issued for cash, value Compensation expense recorded upon sale of common stock Fair value of common stock issued for employee compensation, shares Fair value of common stock issued for employee compensation, value Fair value of common stock issued for professional fees, shares Fair value of common stock issued for professional fees, value Vesting of options and warrants granted for services Vesting of shares of common stock issued for services Net loss Balance preferred stock , shares Balance common stock, shares Balance, value Statement of Cash Flows [Abstract] Cash Flows From Operating Activities: Net loss for the period Adjustments to reconcile net loss to net cash used in operating activities: Fair value of vesting warrants and options Common stock issued for employee compensation Common stock issued for professional fees Vesting of shares of common stock issued for services Gain on sale of trading securities (Increase) decrease in accounts receivables Decrease in other receivables Increase in prepaid expenses Increase (Decrease) in accounts payable and accrued liabilities Decrease in related party accounts payable Net Cash Used in Operating Activities from Continuing Operations Net Cash Provided by Operating Activities from Discontinued Operations Net Cash Used in Operating Activities Cash Flows From Investing Activities: Purchase of licensing rights Purchases of trading securities Proceeds from sale of trading securities Purchase of property and equipment Net Cash Used in Investing Activities Cash Flows From Financing Activities: Proceeds from sale of common stock Net Cash Provided by Financing Activities Net decrease in Cash Cash and cash equivalents at beginning of period Cash and cash equivalents at end of period Supplemental Disclosure of Interest and Income Taxes Paid: Interest paid during the period Income taxes paid during the period Supplemental Disclosure of Non-cash Investing and Financing Activities: Reclassification of other assets to capitalized licensing rights Minimum guaranteed royalties payable Common stock issued for acquisition of Franklin Networks, Inc. Organization And Summary Of Significant Accounting Policies Organization and Summary of Significant Accounting Policies Investments, Debt and Equity Securities [Abstract] Trading Securities Property, Plant and Equipment [Abstract] Property and Equipment Equity [Abstract] Equity Transactions Commitments and Contingencies Disclosure [Abstract] Commitments and Contingencies Discontinued Operations and Disposal Groups [Abstract] Discontinued Operations Accounting Policies [Abstract] Subsequent Events Organization And Summary Of Significant Accounting Policies Policies Interim Financial Statements Organization Nature of Business Principles of Consolidation Liquidity Use of Estimates Earnings (Loss) Per Share Software Licensing and Publication Costs Capitalized Licensing Rights Research and Development Costs Reclassifications Recent Accounting Standards Trading Securities Tables Schedule of Change in Investment in Securities Schedule of Gross Realized Gain\Loss on Securities Schedule of Fair Value of Assets Measured on Recurring Basis Schedule of Property and Equipment Equity Transactions Tables Summarizes Common Stock with Vesting Terms Activity Summarizes Common Stock Options Activity Schedule of Weighted Average Excerise Price Range Summarizes Common Stock Warrants Activity Schedule of Warrants Weighted Average Excerise Price Range Schedule of Assumptions Used in Valuing the Stock Options and Warrants Discontinued Operations Tables Summarizes the Assets and Liabilities of Segment's Discontinued Operations Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table] Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items] Fair Value at Beginning of Year Purchases Proceeds from Sale Gain on Sale Unrealized Loss Fair Value at June 30, 2017 Trading Securities Schedule Of Gross Realized Gainloss Details Sales proceeds Gross realized (losses) Gross realized gains Gain (loss) on sale of trading securities Fair Value Measurements, Recurring and Nonrecurring [Table] Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] Trading securities Money market funds Total Property And Equipment Details Equipment Furniture and fixtures Leasehold improvements Property and Equipment, Gross Less: accumulated depreciation and amortization Property and Equipment, Net Equity Transactions Summarizes Common Stock With Vesting Terms Activity Details Number of Shares Non-vested balance at the beginning Granted Vested Forfeited Non-vested balance at the end Weighted Average Grant Date Fair Value Non-vested balance at the beginning Granted Vested Forfeited Non-vested balance at the end Equity Transactions Summarizes Common Stock Options Activity Details Options Outstanding, December 31, 2016 Granted Exercised Cancelled Forfeited Outstanding, June 30, 2017 Exercisable, June 30, 2017 Weighted Average Exercise Price Outstanding, December 31, 2016 Granted Exercised Cancelled Forfeited Outstanding, June 30, 2017 Exercisable, June 30, 2017 Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table] Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] Outstanding Options, Shares Outstanding Options, Life (Years) Outstanding Options, Weighted Average Exercise Price Exercisable Options, Shares Exercisable Options, Weighted Average Exercise Price Schedule of Share-based Compensation Arrangements by Share-based Payment Award [Table] Share-based Compensation Arrangement by Share-based Payment Award [Line Items] Warrants December 31, 2016 Granted Exercised Cancelled Forfeited Outstanding, June 30, 2017 Exercisable, June 30, 2017 Weighted Average Exercise Price December 31, 2016 Granted Exercised Cancelled Forfeited Outstanding, March 31, 2017 Exercisable, March 31, 2017 Outstanding Warrants, Shares Outstanding Warrants, Life (Years) Warrants exercise price, per share Assumptions - Black Scholes Model: Expected life in years Stock price volatility Risk free interest rate Expected dividends Forfeiture rate Assets: Accounts receivable, net Inventory Total Assets Liabilities: Total Liabilities Cost of sales Gross Margin Total Operating Expenses Operating Income (Loss) Loss on disposal of assets Income (Loss) on discontinued operations Non-Cash operating items Decrease in inventory (Increase) decrease in prepaid expenses Decrease in accounts payable and accrued liabilities Antidilutive shares excluded from computation of basic earnings per share Software licensing and publication cost Capitalized licensing rights, additions Unamortized capitalized licensing rights Estimated useful life of gaming applications Additions towards settlement with the game owner and developer Capitalized licensing rights, amortization Property, Plant and Equipment [Table] Property, Plant and Equipment [Line Items] Depreciation and amortization expenses Stock issued for cash, shares Stock issued for cash, value Fair value of stock issued for cash at sale date Additional compensation expense to difference between sale price and fair market value of shares sold Stock issued for employee for services, shares Stock issued for employee for services, value Stock issued to consultants for services, shares Stock issued to consultants for services, value Stock options granted Stock or warrants vesting period No of shares vested Recognized compensation expense Unvested compensation shares not yet recognized Unvested compensation costs not yet recognized Stock options terms Stock options expire period Closing stock price Intrinsic value of stock price No of warrants granted Loss Contingencies [Table] Loss Contingencies [Line Items] Defendant name Plaintiff name Domicile of litigation Sought damages value Sought damages description Trial commencement month and year Subsequent Event [Table] Subsequent Event [Line Items] Stock issued for services, shares Stock issued for services, value Share based compensation other than option exercisable non vested Share based compensation other than option exercisable weighted average exercise price Share based compensation other than option exercised in period Share based compensation other than option exercised in period grant date fair value Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Forfeiture Rate Fair value of stock issued for cash at sale date Additional compensation expense to difference between sale price and fair market value of shares sold Unvested compensation shares not yet recognized Assets, Current Liabilities, Current Stockholders' Equity Attributable to Parent Liabilities and Equity Nonoperating Income (Expense) Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent Income (Loss) from Discontinued Operations and Disposal of Discontinued Operations, Net of Tax, Per Basic and Diluted Share Earnings Per Share, Basic and Diluted Allocated Share-based Compensation Expense Net Cash Provided by (Used in) Operating Activities, Continuing Operations Net Cash Provided by (Used in) Operating Activities Net Cash Provided by (Used in) Investing Activities Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value Marketable Securities Property, Plant and Equipment, Gross Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Number of Shares Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested, Weighted Average Grant Date Fair Value Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value Share-based Compensation Arrangement by Share-based Payment Award, Options, Nonvested Options Forfeited, Weighted Average Grant Date Fair Value Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsCancelledInPeriodWeightedAverageExercisePrice Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number Property Plant And Equipment Amortization Rate ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsCancelledInPeriod Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeited in Period Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value Schedule Of Prepaid Expense [Line Items] ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsCancelledInPeriodWeightedAverageGrantDateFairValue Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Forfeitures, Weighted Average Grant Date Fair Value Accounts Receivable, Net EX-101.PRE 11 spyr-20170630_pre.xml XBRL PRESENTATION FILE XML 12 R1.htm IDEA: XBRL DOCUMENT v3.7.0.1
Document and Entity Information - shares
6 Months Ended
Jun. 30, 2017
Aug. 05, 2017
Document And Entity Information    
Entity Registrant Name SPYR, Inc.  
Entity Central Index Key 0000829325  
Document Type 10-Q  
Document Period End Date Jun. 30, 2017  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Is Entity a Well-known Seasoned Issuer? No  
Is Entity a Voluntary Filer? No  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   162,422,026
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2017  
XML 13 R2.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Current Assets:    
Cash and cash equivalents $ 1,303,000 $ 3,204,000
Accounts receivable, net 21,000 31,000
Other receivable 200,000
Prepaid expenses 69,000 25,000
Trading securities, at market value 32,000 59,000
Current assets of discontinued operations 4,000 50,000
Total Current Assets 1,429,000 3,569,000
Property and equipment, net 158,000 181,000
Intangible assets, net 16,000 18,000
Capitalized licensing rights, net 295,000 40,000
Other assets 5,000 5,000
Non-current assets of discontinued operations 8,000 47,000
TOTAL ASSETS 1,911,000 3,860,000
Current Liabilities:    
Accounts payable and accrued liabilities 139,000 118,000
Minimum Guaranteed Royalties Payable - current 100,000
Current liabilities of discontinued operations 37,000 58,000
Total Current Liabilities 276,000 176,000
Minimum Guaranteed Royalties Payable - non-current 25,000
Total Liabilities 301,000 176,000
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of June 30, 2017 and December 31, 2016 13 13
Common Stock, $0.0001 par value, 250,000,000 shares authorized 162,352,026 and 157,637,026 shares issued and outstanding as of June 30, 2017 and December 31, 2016 16,235 15,763
Additional paid-in capital 38,390,752 34,752,224
Accumulated deficit (36,797,000) (31,084,000)
Total Stockholders' Equity 1,610,000 3,684,000
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 1,911,000 3,860,000
Class A Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of June 30, 2017 and December 31, 2016 11 11
Total Stockholders' Equity 11 11
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 11 11
Class E Preferred Stock [Member]    
STOCKHOLDERS' EQUITY    
Preferred stock, $0.0001 par value, 10,000,000 shares authorized 107,636 Class A shares issued and outstanding as of June 30, 2017 and December 31, 2016; 20,000 Class E shares issued and outstanding as of June 30, 2017 and December 31, 2016 2 2
Total Stockholders' Equity 2 2
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 2 $ 2
XML 14 R3.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares
Jun. 30, 2017
Dec. 31, 2016
Preferred stock, par value per share $ 0.0001 $ 0.0001
Preferred stock, shares authorized 10,000,000 10,000,000
Common stock, par value per share $ 0.0001 $ 0.0001
Common stock, shares authorized 250,000,000 250,000,000
Common stock, shares issued 162,352,026 157,637,026
Common stock, shares outstanding 162,352,026 157,637,026
Class A Preferred Stock [Member]    
Preferred stock, par value per share $ 0.0001 $ 0.0001
Preferred stock, shares authorized 10,000,000 10,000,000
Preferred stock, shares issued 107,636 107,636
Preferred stock, shares outstanding 107,636 107,636
Class E Preferred Stock [Member]    
Preferred stock, par value per share $ 0.0001 $ 0.0001
Preferred stock, shares authorized 10,000,000 10,000,000
Preferred stock, shares issued 20,000 20,000
Preferred stock, shares outstanding 20,000 20,000
XML 15 R4.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements Of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Income Statement [Abstract]        
Revenues $ 32,000 $ 30,000 $ 84,000 $ 65,000
Expenses        
Labor and related expenses 308,000 220,000 1,678,000 656,000
Rent 49,000 35,000 87,000 67,000
Depreciation and amortization 30,000 20,000 45,000 39,000
Professional fees 1,300,000 319,000 2,892,000 538,000
Research and development 152,000 108,000 265,000 183,000
Other general and administrative 370,000 313,000 703,000 474,000
Total Operating Expenses 2,209,000 1,015,000 5,670,000 1,957,000
Operating Loss (2,177,000) (985,000) (5,586,000) (1,892,000)
Other Income (Expense)        
Interest and dividend income 1,000 5,000 4,000 10,000
Unrealized loss on trading securities (12,000) (185,000) (27,000) (84,000)
Gain on sale of marketable securities 25,000 74,000
Total Other Expense (11,000) (155,000) (23,000)
Loss from continuing operations (2,188,000) (1,140,000) (5,609,000) (1,892,000)
Income (Loss) on discontinued operations (68,000) 1,000 (104,000) (60,000)
Net Loss $ (2,256,000) $ (1,139,000) $ (5,713,000) $ (1,952,000)
Loss from continuing operations        
Basic and Diluted earnings per share $ (0.01) $ (0.01) $ (0.04) $ (0.01)
Loss on discontinued operations        
Basic and Diluted earnings per share
Net Loss        
Basic and Diluted earnings per share $ (0.01) $ (0.01) $ (0.04) $ (0.01)
Weighted Average Common Shares        
Basic and Diluted 160,846,474 152,564,198 160,321,114 152,838,539
XML 16 R5.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) - 6 months ended Jun. 30, 2017 - USD ($)
Class A Preferred Stock [Member]
Class E Preferred Stock [Member]
Common Stock [Member]
Additional Paid-in Capital [Member]
Accumulated Deficit [Member]
Total
Balance preferred stock, shares at Dec. 31, 2016 107,636 20,000        
Balance common stock, shares at Dec. 31, 2016     157,637,026     157,637,026
Balance, value at Dec. 31, 2016 $ 11 $ 2 $ 15,763 $ 34,752,224 $ (31,084,000) $ 3,684,000
Common stock issued for cash, shares     750,000      
Common stock issued for cash, value $ 75 299,925 300,000
Compensation expense recorded upon sale of common stock 210,000 210,000
Fair value of common stock issued for employee compensation, shares     1,250,000      
Fair value of common stock issued for employee compensation, value $ 125 846,875 847,000
Fair value of common stock issued for professional fees, shares     2,715,000      
Fair value of common stock issued for professional fees, value     $ 272 1,698,728 1,699,000
Vesting of options and warrants granted for services 537,000 537,000
Vesting of shares of common stock issued for services 46,000 46,000
Net loss (5,713,000) $ (5,713,000)
Balance preferred stock , shares at Jun. 30, 2017 107,636 20,000        
Balance common stock, shares at Jun. 30, 2017     162,352,026     162,352,026
Balance, value at Jun. 30, 2017 $ 11 $ 2 $ 16,235 $ 38,390,752 $ (36,797,000) $ 1,610,000
XML 17 R6.htm IDEA: XBRL DOCUMENT v3.7.0.1
Condensed Consolidated Statements Of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Cash Flows From Operating Activities:    
Net loss for the period $ (5,713,000) $ (1,952,000)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 45,000 39,000
Fair value of vesting warrants and options 537,000
Common stock issued for employee compensation 847,000 200,000
Common stock issued for professional fees 1,909,000 70,000
Vesting of shares of common stock issued for services 46,000 68,000
Unrealized loss on trading securities (27,000) (84,000)
Gain on sale of trading securities 74,000
(Increase) decrease in accounts receivables (10,000) 13,000
Decrease in other receivables (100,000)
Increase in prepaid expenses 44,000 36,000
Increase (Decrease) in accounts payable and accrued liabilities 21,000 (21,000)
Decrease in related party accounts payable (7,000)
Net Cash Used in Operating Activities from Continuing Operations (2,215,000) (1,642,000)
Net Cash Provided by Operating Activities from Discontinued Operations 64,000 25,000
Net Cash Used in Operating Activities (2,151,000) (1,617,000)
Cash Flows From Investing Activities:    
Purchase of licensing rights 50,000 10,000
Purchases of trading securities 510,000
Proceeds from sale of trading securities 280,000
Purchase of property and equipment 48,000
Net Cash Used in Investing Activities (50,000) (288,000)
Cash Flows From Financing Activities:    
Proceeds from sale of common stock 300,000 15,000
Net Cash Provided by Financing Activities 300,000 15,000
Net decrease in Cash (1,901,000) (1,890,000)
Cash and cash equivalents at beginning of period 3,204,000 6,904,000
Cash and cash equivalents at end of period 1,303,000 5,014,000
Supplemental Disclosure of Interest and Income Taxes Paid:    
Interest paid during the period
Income taxes paid during the period
Supplemental Disclosure of Non-cash Investing and Financing Activities:    
Reclassification of other assets to capitalized licensing rights 100,000
Minimum guaranteed royalties payable 125,000
Common stock issued for acquisition of Franklin Networks, Inc.
XML 18 R7.htm IDEA: XBRL DOCUMENT v3.7.0.1
Organization And Summary Of Significant Accounting Policies
6 Months Ended
Jun. 30, 2017
Organization And Summary Of Significant Accounting Policies  
Organization and Summary of Significant Accounting Policies

NOTE 1 - ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Interim Financial Statements

 

The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the SEC. The condensed consolidated balance sheet as of December 31, 2016 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including notes, required by GAAP.

 

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to fairly present the Company's financial position and results of operations for the interim periods reflected. Except as noted, all adjustments contained herein are of a normal recurring nature. Results of operations for the fiscal periods presented herein are not necessarily indicative of fiscal year-end results.

 

The condensed consolidated financial statements and all relevant footnotes have been adjusted as of the earliest period presented to reflect the discontinued operations (see Note 6).

 

Organization

 

The Company was incorporated as Conceptualistics, Inc. on January 6, 1988 in Delaware. Subsequent to its incorporation, the Company changed its name to Eat at Joe’s, Ltd. In February 2015, the Company changed its name to SPYR, Inc. and adopted a new ticker symbol “SPYR” effective March 12, 2015.

 

Nature of Business

 

The primary focus of SPYR, Inc. (the “Company”) is to act as a holding company and develop a portfolio of profitable subsidiaries, not limited by any particular industry or business.

 

Through our wholly owned subsidiaries, SPYR APPS, LLC and SPYR APPS, Oy, we operate our mobile games and applications business. The focus of the SPYR APPS subsidiaries is the development and publication of our own mobile games as well as the publication of games developed by third-party developers. As of October 5, 2016, SPYR APPS, Oy ceased business activities and began the dissolution process, which dissolution we expect should be completed before the end of the year.

 

Through our other wholly owned subsidiary, E.A.J.: PHL Airport, Inc., we owned and operated the restaurant “Eat at Joe’s®,” which was located in the Philadelphia International Airport since 1997. Our lease in the Philadelphia Airport expired in April 2017. Concurrent with expiration of the lease the restaurant closed. Our plan is to complete a tax free exchange of our intellectual property related to our restaurant operations, including the registered trademark: “Eat at Joe’s®,” and related furniture, fixtures and equipment to our wholly owned subsidiary, Branded Foods Concepts, Inc. (“Branded Foods”), in exchange for common shares of Branded Foods, which will be issued to our shareholders of record as of May 19, 2017, resulting in our qualifying shareholders receiving one share of Branded Foods common stock for every share of our common stock beneficially owned as of the record date. We expect Branded Foods will concurrently register its common stock under Section 12g of the Securities Act on Form 10 and thereafter become a fully reporting independent company. Pursuant to current accounting guidelines, the assets and liabilities of EAJ as well as the results of its operations were presented in these financial statements as discontinued operations.

 

Principles of Consolidation

 

The consolidated financial statements include the accounts of SPYR, Inc. and its wholly-owned subsidiaries, SPYR APPS, LLC, a Nevada Limited Liability Company, and SPYR APPS, Oy, a Finnish Limited Liability Company, E.A.J.: PHL, Airport Inc., a Pennsylvania corporation (discontinued operations, see Note 6), and Branded Foods Concepts, Inc., a Nevada corporation. Intercompany accounts and transactions have been eliminated.

 

Liquidity

 

The accompanying financial statements have been prepared under the assumption that the Company will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. For the six months ended June 30, 2017, the Company recorded a net loss from continuing operations of $5,609,000 and utilized cash in continuing operations of $2,215,000. As of June 30, 2017, our cash balance was $1,303,000 and we had trading securities of $32,000.

 

The Company’s restaurant, Eat At Joes closed in April 2017, concurrent with the expiration of the lease. However, the Company plans to expand its mobile games and application development and publishing activities, such as Pocket Starships, through acquisition and/or development of its own intellectual property and publishing agreements with developers.

 

We estimate the Company currently has sufficient cash and liquidity to meet its working capital needs for its fiscal year 2017. Historically, we have financed our operations primarily through private sales of our trading securities or through sales of our common stock. If our sales goals for our products do not materialize as planned, we believe that the Company can reduce its operating and product development costs that would allow us to maintain sufficient cash levels to continue operations. However, if we are not able to achieve profitable operations at some point in the future, we may have insufficient working capital to maintain our operations as we presently intend to conduct them or to fund our expansion, marketing, and product development plans. There can be no assurance that we will be able to obtain such financing on acceptable terms, or at all.

 

Use of Estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions used by management affected impairment analysis for fixed assets, intangible assets, amounts of potential liabilities and valuation of issuance of equity securities. Actual results could differ from those estimates.

 

Earnings (Loss) Per Share

 

The Company’s computation of earnings (loss) per share (EPS) includes basic and diluted EPS. Basic EPS is calculated by dividing the Company’s net income (loss) available to common stockholders by the weighted average number of common shares during the period. Diluted EPS reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income (loss) of the Company. In computing diluted EPS, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Shares of restricted stock are included in the basic weighted average number of common shares outstanding from the time they vest.

 

The basic and fully diluted shares for the six months ended June 30, 2017 are the same because the inclusion of the potential shares (Class A – 26,909,028, Class E – 185,874, Options – 6,120,000, Warrants – 1,200,000) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2017.

 

The basic and fully diluted shares for the six months ended June 30, 2016 are the same because the inclusion of the potential shares (Non-vested Common – 154,166, Class A – 26,909,028, Class E – 365,738) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2016.

 

Software Licensing and Publication Costs

 

Software licensing and publishing costs pertain to non-refundable payments made to independent gaming software developers pursuant to licensing agreements. The payments are intended to assist gaming software developers in the marketing and further development of gaming software applications.

 

 

Software licensing and publication costs were $501,000 and $195,000 for the six months ended June 30, 2017 and 2016, respectively, and was reflected as part of general and administrative expenses on the accompanying condensed consolidated statements of operations.

 

Capitalized Licensing Rights

 

Capitalized licensing rights represent fees paid to intellectual property rights holders for use of their trademarks, copyrights, software, technology, music or other intellectual property or proprietary rights in the development of our products. Depending upon the agreement with the rights holder, we may obtain the right to use the intellectual property in multiple products over a number of years, or alternatively, for a single product.

 

Significant management judgments and estimates are utilized in assessing the recoverability of capitalized costs. In evaluating the recoverability of capitalized costs, the assessment of expected product performance utilizes forecasted sales amounts and estimates of additional costs to be incurred. If revised forecasted or actual product sales are less than the originally forecasted amounts utilized in the initial recoverability analysis, the net realizable value may be lower than originally estimated in any given quarter, which could result in an impairment charge. Material differences may result in the amount and timing of expenses for any period if management makes different judgments or utilizes different estimates in evaluating these qualitative factors.

 

During 2017, the Company capitalized $175,000 pursuant to a licensing agreement for the non-exclusive, limited right to incorporate certain intellectual property (IP) from various STAR TREK television series in to future updates to and expansions of the Pocket Starships game. The Company estimates that the IP will have an estimated life of 1.6 years, which approximates the term of the license. In addition, we also acquired the game titled Battlewack: Idle Lords for $100,000, pursuant to settlement with the game owner and developer.

 

In a prior period, the Company capitalized $50,000 as a result of the acquisition of licensing rights of one gaming applications. The Company estimates that the gaming application will have an estimated life of five years, which approximates the term of the license.

 

During the period ended June 30, 2017, the Company recorded amortization expense of $20,000 pursuant to the terms of these licensing rights. As of June 30, 2017 and December 31, 2016, the unamortized capitalized licensing rights amounted to $295,000 and $40,000 respectively.

 

Research and Development Costs

 

Costs incurred for research and development are expensed as incurred. During the six months ended June 30, 2017 and 2016, the Company incurred $265,000 and $183,000 in research and development costs paid to independent gaming software developers.

 

Reclassifications

 

During the period ended June 30, 2016, the Company incurred $183,000 in connection with fees paid to a game developer for the development of the Pocket Starships game that were accounted as part of Operating expenses. To conform with presentation adopted for the current period, the Company reclassified this amount as Research and Development expenses. The reclassification had no effect on total assets, total shareholder's equity, net loss or cash flows as previously presented.

 

Recent Accounting Standards

 

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. Entities will be able to transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of ASU 2014-09 on the Company’s financial statements and disclosures.

 

In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is in the process of evaluating the impact of ASU 2016-02 on the Company’s financial statements and disclosures.

 

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

XML 19 R8.htm IDEA: XBRL DOCUMENT v3.7.0.1
Trading Securities
6 Months Ended
Jun. 30, 2017
Investments, Debt and Equity Securities [Abstract]  
Trading Securities

NOTE 2 - TRADING SECURITIES

 

The Company’s securities investments are bought and held principally for the purpose of selling them in the short term and are classified as trading securities. Trading securities are recorded at fair value based on quoted market prices (level 1) on the balance sheet in current assets, with the change in fair value during the period included in earnings as unrealized gains or losses in the statement of operations. Gains from the sales of such securities will be utilized to fund payment of obligations and to provide working capital for operations and to finance future growth, including, but not limited to: conducting our ongoing business, conducting strategic business development, marketing analysis, due diligence investigations into possible acquisitions, and research and development and implementation of the Company’s business plans generally.

 

Investments in securities are summarized as follows:

 

   Fair Value at          
   Beginning of     Proceeds from  Gain on  Unrealized  Fair Value at
Year  Year  Purchases  Sale  Sale  Loss  June 30, 2017
 2017   $59,000   $—     $—     $—     $(27,000)  $32,000 

  

Realized gains and losses are determined on the basis of specific identification. During the six months ended June 30, 2017 and 2016, sales proceeds and gross realized gains and losses on trading securities were:

 

    June 30,
2017
    June 30,
2016
 
           
  Sales proceeds  $—     $280,000 
  Gross realized (losses)  $—     $—   
  Gross realized gains   —      74,000 
  Gain (loss) on sale of trading securities  $—     $74,000 

 

The following table discloses the assets measured at fair value on a recurring basis and the methods used to determine fair value:

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    June 30, 2017   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   32,000    $                   32,000    $                           -       $                          -   
Money market funds                         36,000                         36,000                                 -                                   -   
Total    $                   68,000    $                   68,000    $                           -       $                          -   

 

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    December 31, 2016   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   59,000    $                   59,000    $                           -       $                          -   
Money market funds                         36,000                         36,000                                 -                                   -   
Total    $                   95,000    $                   95,000    $                           -       $                          -   

 

The fair value of the Company’s trading securities is determined by reference to quoted market prices (level 1). During the six months ended June 30, 2017, the Company recorded $27,000 in unrealized losses to account for the changes in fair value of its trading securities. During the six months ended June 30, 2016, the Company recorded $84,000 in unrealized gains to account for the changes in fair value of its trading securities.

XML 20 R9.htm IDEA: XBRL DOCUMENT v3.7.0.1
Property And Equipment
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
Property and Equipment

NOTE 3 – PROPERTY AND EQUIPMENT

 

Property and equipment consisted of the following:

 

   June 30,
2017
  December 31,
2016
    (Unaudited)      
Equipment  $130,000   $121,000 
Furniture & fixtures   114,000    116,000 
Leasehold improvements   107,000    381,000 
    351,000    618,000 
Less: accumulated depreciation and amortization   (193,000)   (437,000)
   Property and Equipment, Net  $158,000   $181,000 

 

Depreciation and amortization expense for the six months ended June 30, 2017 and 2016 was $23,000 and $39,000, respectively.

XML 21 R10.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions
6 Months Ended
Jun. 30, 2017
Equity [Abstract]  
Equity Transactions

NOTE 4 – EQUITY TRANSACTIONS

 

Common Stock:

 

During the six months ended June 30, 2017, the Company issued an aggregate of 750,000 shares of restricted common stock to an existing shareholder and former officer/employee for cash of $300,000. The common shares had a fair value of $510,000 at the date of sale, and as a result, the Company reflected an additional expense of $210,000 to account the difference between the sale price and the fair market value of common shares sold.

 

During the six months ended June 30, 2017, the Company issued an aggregate of 1,250,000 shares of restricted common stock to employees with a total fair value of $847,000 for services rendered. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $847,000 upon issuance. The shares issued were valued at the date earned under the respective agreements.

 

During the six months ended June 30, 2017, the Company issued an aggregate of 2,715,000 shares of restricted common stock to consultants with a total fair value of $1,699,000. The shares issued are non-refundable and deemed earned upon issuance. As a result, the Company expensed the entire $1,699,000 upon issuance. The shares issued were valued at the date earned under the respective agreements.

 

Common Stock with Vesting Terms:

 

The following table summarizes common stock with vesting terms activity:

          Weighted
          Average
    Number of     Grant Date
    Shares     Fair Value
Non-vested, December 31, 2016 20,833    $ 0.50
  Granted —      — 
  Vested (20,833)     0.50
  Forfeited —      — 
Non-vested, June 30, 2017 —    $ — 
           

 

In February 2015, the Company granted and issued 500,000 shares of its restricted common stock to a consultant pursuant to a consulting agreement. The 500,000 shares are forfeitable and are deemed earned upon completion of service over a period of twenty-four months. The Company recognizes the fair value of these shares as they vest. As of December 31, 2016, 479,167 of these shares had vested and 20,833 common shares unvested. During the six months ended June 30, 2017, the remaining 20,833 of these shares vested and as a result, the Company recognized compensation cost of $46,000. As of June 30, 2017, there were no unvested shares and no unearned compensation costs to be recorded.

 

When calculating basic net income (loss) per share, these shares are included in weighted average common shares outstanding from the time they vest. When calculating diluted net income per share, these shares are included in weighted average common shares outstanding as of their grant date.

 

Options

 

The following table summarizes common stock options activity:

          Weighted
          Average
    Options     Exercise Price
December 31, 2016 12,900,000    $ 2.83 
  Granted 720,000      1.00 
  Exercised    
  Cancelled    
  Forfeited (7,500,000)     3.97 
Outstanding, June 30, 2017 6,120,000      3.27 
Exercisable, June 30, 2017 4,840,000    $ 3.30 
           

 

During the period ended June 30, 2017, the Company granted stock options to consultants to purchase a total of 720,000 shares of common stock. A total of 440,000 options vested upon grant while the remaining 280,000 options will vest through February 2018 at a rate of 35,000 shares per month. The options are exercisable at $1.00 per share and will expire over 4 years. The fair values of the options are recorded at their respective grant dates computed using the Black-Scholes Option Pricing Model. During the six months ended June 30, 2017, the Company recognized $247,000 in compensation expense based upon the vesting of outstanding options. As of June 30, 2017 the unamortized compensation expense for unvested options was $167,000 which will be recognized over the vesting period.

 

The weighted average exercise prices, remaining lives for options granted, and exercisable as of June 30, 2017, were as follows:

 

    Outstanding Options       Exercisable Options
Options           Weighted       Weighted
Exercise Price       Life   Average Exercise       Average Exercise
Per Share   Shares   (Years)   Price   Shares   Price
                     
$1.00   1,870,000   0.50 – 3.61   $1.00   1,590,000   $1.00
$2.50   1,250,000   1.50   $2.50   750,000   $2.50
$5.00   3,000,000   2.50   $5.00   2,500,000   $5.00
    6,120,000       $3.27   4,840,000   $3.30

 

At June 30, 2017, the Company’s closing stock price was $0.51 per share. As all outstanding options had an exercise price greater than $0.51 per share, there was no intrinsic value of the options outstanding at June 30, 2017.

 

Warrants:

 

The following table summarizes common stock warrants activity:

 

      Weighted
      Average
      Exercise
   Warrants  Price
 December 31, 2016    200,000   $0.33 
 Granted    1,000,000    1.50 
 Exercised    —      —   
 Cancelled    —      —   
 Forfeited    —      —   
 Outstanding June 30, 2017    1,200,000   $1.54 
 Exercisable June 30, 2017    1,200,000   $1.54 

 

In March 2017, pursuant to an employee separation agreement, the Company granted warrants to purchase a total of 1,000,000 shares of restricted common stock with an exercise price of $1.50 and $2.00 which will expire December 31, 2018. The warrants are fully vested and exercisable upon grant. Total fair value of the warrants at grant date amounted to $290,000 computed using the Black-Scholes Option Pricing Model and was fully recognized on the date of grant.

 

The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of June 30, 2017, were as follows:

 

    Outstanding and Exercisable Warrants  
Warrants          
Exercise Price       Life  
Per Share   Shares   (Years)  
$0.50   200,000   0.33  
$1.50   500,000   1.50  
$2.00   500,000   1.50  
    1,200,000      

 

At June 30, 2017, the Company’s closing stock price was $0.51 per share and the aggregate intrinsic value of the warrants outstanding at June 30, 2017 was $2,000.

 

The table below represents the average assumptions used in valuing the stock options and warrants granted in fiscal 2017:

 

    Six-Months Ended 
    June 30, 2017 
Expected life in years   1.75 – 3.92 
Stock price volatility   127% - 158% 
Risk free interest rate   1.26 % - 1.60% 
    Expected dividends   —   
Forfeiture rate   —   
      

 

The assumptions used in the Black Scholes models referred to above are based upon the following data: (1) the contractual life of the underlying non-employee options is the expected life. The expected life of the employee option is estimated by considering the contractual term of the option, the vesting period of the option, the employees’ expected exercise behavior and the post-vesting employee turnover rate. (2) The expected stock price volatility was based upon the Company’s historical stock price over the expected term of the option. (3) The risk-free interest rate is based on published U.S. Treasury Department interest rates for the expected terms of the underlying options. (4) The expected dividend yield was based on the fact that the Company has not paid dividends to common shareholders in the past and does not expect to pay dividends to common shareholders in the future. (5) The expected forfeiture rate is based on historical forfeiture activity and assumptions regarding future forfeitures based on the composition of current grantees.

XML 22 R11.htm IDEA: XBRL DOCUMENT v3.7.0.1
Commitments And Contingencies
6 Months Ended
Jun. 30, 2017
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies

NOTE 5 – COMMITMENTS AND CONTINGENCIES

 

We are involved in certain legal proceedings that arise from time to time in the ordinary course of our business. Except for income tax contingencies, we record accruals for contingencies to the extent that our management concludes that the occurrence is probable and that the related amounts of loss can be reasonably estimated. Legal expenses associated with the contingency are expensed as incurred. A material legal proceeding that is currently pending is as follows:

 

On October 14, 2015, the Company was named as a defendant in a case filed in the United States District Court for the District of Delaware case: Zakeni Limited v. SPYR, Inc., f/k/a Eat at Joe’s., Ltd. The suit relates to the Company’s issuance of two convertible debentures in the aggregate principal amount of $1,500,000 in 1998. The plaintiff is seeking payment or conversion of said convertible debentures together with accrued interest and unspecified damages. The Company believes the claim is not a valid debt and is vigorously defending this lawsuit. On December 4, 2015, the Company filed a motion to dismiss the suit based on the statute of limitations. In evaluating a motion to dismiss, the Court is only allowed to view the allegations set forth in the plaintiff’s complaint and documents referenced therein, must assume that those allegations are true, and must construe all evidence contained in the referenced documents in a light most favorable to the plaintiff. On August 24, 2016, under this standard, the Court determined that the legal requirements to grant the motion to dismiss had not been fully satisfied and denied the Company’s Motion to Dismiss. Accordingly, no final determinations regarding liability have been made, the case will proceed to be litigated in the normal course, and, if the Company elects, it will have the ability to again present its arguments for dismissal prior to trial through a motion for summary judgment, which will allow for a determination to be made based on a legal standard that is slightly less favorable to the plaintiff. If that motion is denied, the Company will still have the opportunity to present all of its arguments and defenses at trial, at which Zakeni will have to prove its case by a preponderance of the evidence. The case is scheduled for trial on July 16, 2018. Based upon available information at this very early stage of litigation, it is still the belief of management and opinion of in-house counsel that the Company will obtain a favorable ruling and no amount will be awarded to the plaintiff in this action. Accordingly, Management believes the likelihood of material loss resulting from this lawsuit to be remote.

XML 23 R12.htm IDEA: XBRL DOCUMENT v3.7.0.1
Discontinued Operations
6 Months Ended
Jun. 30, 2017
Discontinued Operations and Disposal Groups [Abstract]  
Discontinued Operations

NOTE 6 – DISCONTINUED OPERATIONS

 

Through our other wholly owned subsidiary, E.A.J.: PHL Airport, Inc., we owned and operated the restaurant “Eat at Joe’s®,” which was located in the Philadelphia International Airport since 1997. Our lease in the Philadelphia Airport expired in April 2017. Concurrent with expiration of the lease the restaurant closed. Pursuant to current accounting guidelines, the restaurant segment is reported as a discontinued operations.

 

The following table summarizes the assets and liabilities of our former restaurant segment's discontinued operations as of June 30, 2017 and December 31, 2016:

 

   June 30,
2017
  December 31,
2016
Assets:          
   Accounts receivable, net  $4,000   $13,000 
   Inventory   —      12,000 
   Prepaid expenses   —      25,000 
   Property and equipment, net   6,000    30,000 
   Other assets   2,000    17,000 
Total Assets  $12,000   $97,000 
           
Liabilities:          
   Accounts payable and accrued liabilities   37,000    58,000 
Total Liabilities  $37,000   $58,000 

  

The following table summarizes the results of operations of our former restaurant segment for the three and six months ended June 30, 2017 and 2016 and is included in the condensed consolidated statements of operations as discontinued operations:

 

   For the Three Months Ended
June 30,
  For the Six Months Ended
June 30,
   2017  2016  2017  2016
             
Revenues  $109,000   $345,000   $421,000   $642,000 
Cost of sales   35,000    96,000    134,000    193,000 
          Gross Margin   74,000    249,000    287,000    449,000 
Expenses                    
   Labor and related expenses   55,000    117,000    178,000    234,000 
   Rent   21,000    57,000    82,000    129,000 
   Depreciation and amortization   5,000    18,000    20,000    37,000 
   Professional fees   3,000    3,000    3,000    3,000 
   Other general and administrative   39,000    53,000    89,000    102,000 
          Total Operating Expenses   123,000    248,000    372,000    505,000 
          Operating Income (Loss)   (49,000)   1,000    (85,000)   (56,000)
Other Income (Expense)                    
   Loss on disposal of assets   (19,000)   —      (19,000)   —   
Income (Loss) on discontinued operations  $(68,000)  $1,000   $(104,000)  $(56,000)

 

The following table summarizes cash flow information from our former restaurant segment for the six months ended June 30, 2017 and 2016:

 

   For the Six Months Ended June 30,
   2017  2016
Non-Cash operating items          
     Depreciation and amortization   20,000    37,000 
     Loss on disposal of assets   19,000    —   
     (Increase) decrease in accounts receivables   9,000    (2,000)
     Decrease in inventory   12,000    3,000 
     (Increase) decrease in prepaid expenses   25,000    (8,000)
     Decrease in accounts payable and accrued liabilities   (21,000)   (4,000)
XML 24 R13.htm IDEA: XBRL DOCUMENT v3.7.0.1
Subsequent Events
6 Months Ended
Jun. 30, 2017
Accounting Policies [Abstract]  
Subsequent Events

NOTE 7 – SUBSEQUENT EVENTS

 

Subsequent to June 30, 2017, the Company issued an aggregate of 70,000 shares of common stock to third party service providers with a total fair value of $26,000 for services rendered. The shares issued are non-refundable and deemed earned upon issuance.

XML 25 R14.htm IDEA: XBRL DOCUMENT v3.7.0.1
Organization And Summary Of Significant Accounting Policies (Policies)
6 Months Ended
Jun. 30, 2017
Organization And Summary Of Significant Accounting Policies Policies  
Interim Financial Statements

Interim Financial Statements

 

The accompanying condensed consolidated financial statements are unaudited. These unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. Accordingly, these interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2016 filed with the SEC. The condensed consolidated balance sheet as of December 31, 2016 included herein was derived from the audited consolidated financial statements as of that date, but does not include all disclosures, including notes, required by GAAP.

 

In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments necessary to fairly present the Company's financial position and results of operations for the interim periods reflected. Except as noted, all adjustments contained herein are of a normal recurring nature. Results of operations for the fiscal periods presented herein are not necessarily indicative of fiscal year-end results.

 

The condensed consolidated financial statements and all relevant footnotes have been adjusted as of the earliest period presented to reflect the discontinued operations (see Note 6).

Organization

Organization

 

The Company was incorporated as Conceptualistics, Inc. on January 6, 1988 in Delaware. Subsequent to its incorporation, the Company changed its name to Eat at Joe’s, Ltd. In February 2015, the Company changed its name to SPYR, Inc. and adopted a new ticker symbol “SPYR” effective March 12, 2015.

Nature of Business

Nature of Business

 

The primary focus of SPYR, Inc. (the “Company”) is to act as a holding company and develop a portfolio of profitable subsidiaries, not limited by any particular industry or business.

 

Through our wholly owned subsidiaries, SPYR APPS, LLC and SPYR APPS, Oy, we operate our mobile games and applications business. The focus of the SPYR APPS subsidiaries is the development and publication of our own mobile games as well as the publication of games developed by third-party developers. As of October 5, 2016, SPYR APPS, Oy ceased business activities and began the dissolution process, which dissolution we expect should be completed before the end of the year.

 

Through our other wholly owned subsidiary, E.A.J.: PHL Airport, Inc., we owned and operated the restaurant “Eat at Joe’s®,” which was located in the Philadelphia International Airport since 1997. Our lease in the Philadelphia Airport expired in April 2017. Concurrent with expiration of the lease the restaurant closed. Our plan is to complete a tax free exchange of our intellectual property related to our restaurant operations, including the registered trademark: “Eat at Joe’s®,” and related furniture, fixtures and equipment to our wholly owned subsidiary, Branded Foods Concepts, Inc. (“Branded Foods”), in exchange for common shares of Branded Foods, which will be issued to our shareholders of record as of May 19, 2017, resulting in our qualifying shareholders receiving one share of Branded Foods common stock for every share of our common stock beneficially owned as of the record date. We expect Branded Foods will concurrently register its common stock under Section 12g of the Securities Act on Form 10 and thereafter become a fully reporting independent company. Pursuant to current accounting guidelines, the assets and liabilities of EAJ as well as the results of its operations were presented in these financial statements as discontinued operations.

Principles of Consolidation

Principles of Consolidation

 

The consolidated financial statements include the accounts of SPYR, Inc. and its wholly-owned subsidiaries, SPYR APPS, LLC, a Nevada Limited Liability Company, and SPYR APPS, Oy, a Finnish Limited Liability Company, E.A.J.: PHL, Airport Inc., a Pennsylvania corporation (discontinued operations, see Note 6), and Branded Foods Concepts, Inc., a Nevada corporation. Intercompany accounts and transactions have been eliminated.

Liquidity

Liquidity

 

The accompanying financial statements have been prepared under the assumption that the Company will continue as a going concern. Such assumption contemplates the realization of assets and satisfaction of liabilities in the normal course of business. For the six months ended June 30, 2017, the Company recorded a net loss from continuing operations of $5,609,000 and utilized cash in continuing operations of $2,215,000. As of June 30, 2017, our cash balance was $1,303,000 and we had trading securities of $32,000.

 

The Company’s restaurant, Eat At Joes closed in April 2017, concurrent with the expiration of the lease. However, the Company plans to expand its mobile games and application development and publishing activities, such as Pocket Starships, through acquisition and/or development of its own intellectual property and publishing agreements with developers.

 

We estimate the Company currently has sufficient cash and liquidity to meet its working capital needs for its fiscal year 2017. Historically, we have financed our operations primarily through private sales of our trading securities or through sales of our common stock. If our sales goals for our products do not materialize as planned, we believe that the Company can reduce its operating and product development costs that would allow us to maintain sufficient cash levels to continue operations. However, if we are not able to achieve profitable operations at some point in the future, we may have insufficient working capital to maintain our operations as we presently intend to conduct them or to fund our expansion, marketing, and product development plans. There can be no assurance that we will be able to obtain such financing on acceptable terms, or at all.

Use of Estimates

Use of Estimates

 

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates and assumptions used by management affected impairment analysis for fixed assets, intangible assets, amounts of potential liabilities and valuation of issuance of equity securities. Actual results could differ from those estimates.

Earnings (Loss) Per Share

Earnings (Loss) Per Share

 

The Company’s computation of earnings (loss) per share (EPS) includes basic and diluted EPS. Basic EPS is calculated by dividing the Company’s net income (loss) available to common stockholders by the weighted average number of common shares during the period. Diluted EPS reflects the potential dilution, using the treasury stock method that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the net income (loss) of the Company. In computing diluted EPS, the treasury stock method assumes that outstanding options and warrants are exercised and the proceeds are used to purchase common stock at the average market price during the period. Shares of restricted stock are included in the basic weighted average number of common shares outstanding from the time they vest.

 

The basic and fully diluted shares for the six months ended June 30, 2017 are the same because the inclusion of the potential shares (Class A – 26,909,028, Class E – 185,874, Options – 6,120,000, Warrants – 1,200,000) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2017.

 

The basic and fully diluted shares for the six months ended June 30, 2016 are the same because the inclusion of the potential shares (Non-vested Common – 154,166, Class A – 26,909,028, Class E – 365,738) would have had an anti-dilutive effect due to the Company generating a loss for the six months ended June 30, 2016.

Software Licensing and Publication Costs

Software Licensing and Publication Costs

 

Software licensing and publishing costs pertain to non-refundable payments made to independent gaming software developers pursuant to licensing agreements. The payments are intended to assist gaming software developers in the marketing and further development of gaming software applications.

 

Software licensing and publication costs were $501,000 and $195,000 for the six months ended June 30, 2017 and 2016, respectively, and was reflected as part of general and administrative expenses on the accompanying condensed consolidated statements of operations.

Capitalized Licensing Rights

Capitalized Licensing Rights

 

Capitalized licensing rights represent fees paid to intellectual property rights holders for use of their trademarks, copyrights, software, technology, music or other intellectual property or proprietary rights in the development of our products. Depending upon the agreement with the rights holder, we may obtain the right to use the intellectual property in multiple products over a number of years, or alternatively, for a single product.

 

Significant management judgments and estimates are utilized in assessing the recoverability of capitalized costs. In evaluating the recoverability of capitalized costs, the assessment of expected product performance utilizes forecasted sales amounts and estimates of additional costs to be incurred. If revised forecasted or actual product sales are less than the originally forecasted amounts utilized in the initial recoverability analysis, the net realizable value may be lower than originally estimated in any given quarter, which could result in an impairment charge. Material differences may result in the amount and timing of expenses for any period if management makes different judgments or utilizes different estimates in evaluating these qualitative factors.

 

During 2017, the Company capitalized $175,000 pursuant to a licensing agreement for the non-exclusive, limited right to incorporate certain intellectual property (IP) from various STAR TREK television series in to future updates to and expansions of the Pocket Starships game. The Company estimates that the IP will have an estimated life of 1.6 years, which approximates the term of the license. In addition, we also acquired the game titled Battlewack: Idle Lords for $100,000, pursuant to settlement with the game owner and developer.

 

In a prior period, the Company capitalized $50,000 as a result of the acquisition of licensing rights of one gaming applications. The Company estimates that the gaming application will have an estimated life of five years, which approximates the term of the license.

 

During the period ended June 30, 2017, the Company recorded amortization expense of $20,000 pursuant to the terms of these licensing rights. As of June 30, 2017 and December 31, 2016, the unamortized capitalized licensing rights amounted to $295,000 and $40,000 respectively.

Research and Development Costs

Research and Development Costs

 

Costs incurred for research and development are expensed as incurred. During the six months ended June 30, 2017 and 2016, the Company incurred $265,000 and $183,000 in research and development costs paid to independent gaming software developers.

Reclassifications

Reclassifications

 

During the period ended June 30, 2016, the Company incurred $183,000 in connection with fees paid to a game developer for the development of the Pocket Starships game that were accounted as part of Operating expenses. To conform with presentation adopted for the current period, the Company reclassified this amount as Research and Development expenses. The reclassification had no effect on total assets, total shareholder's equity, net loss or cash flows as previously presented.

Recent Accounting Standards

Recent Accounting Standards

 

In May 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2014-09, Revenue from Contracts with Customers. ASU 2014-09 is a comprehensive revenue recognition standard that will supersede nearly all existing revenue recognition guidance under current U.S. GAAP and replace it with a principle based approach for determining revenue recognition. ASU 2014-09 will require that companies recognize revenue based on the value of transferred goods or services as they occur in the contract. The ASU also will require additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. ASU 2014-09 is effective for interim and annual periods beginning after December 15, 2017. Early adoption is permitted only in annual reporting periods beginning after December 15, 2016, including interim periods therein. Entities will be able to transition to the standard either retrospectively or as a cumulative-effect adjustment as of the date of adoption. The Company is in the process of evaluating the impact of ASU 2014-09 on the Company’s financial statements and disclosures.

 

In February 2016, the FASB issued Accounting Standards Update (ASU) No. 2016-02, Leases. ASU 2016-02 requires a lessee to record a right of use asset and a corresponding lease liability on the balance sheet for all leases with terms longer than 12 months. ASU 2016-02 is effective for all interim and annual reporting periods beginning after December 15, 2018. Early adoption is permitted. A modified retrospective transition approach is required for lessees for capital and operating leases existing at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is in the process of evaluating the impact of ASU 2016-02 on the Company’s financial statements and disclosures.

 

Other recent accounting pronouncements issued by the FASB, including its Emerging Issues Task Force, the American Institute of Certified Public Accountants, and the Securities and Exchange Commission did not or are not believed by management to have a material impact on the Company's present or future consolidated financial statements.

XML 26 R15.htm IDEA: XBRL DOCUMENT v3.7.0.1
Trading Securities (Tables)
6 Months Ended
Jun. 30, 2017
Trading Securities Tables  
Schedule of Change in Investment in Securities

Investments in securities are summarized as follows:

 

   Fair Value at          
   Beginning of     Proceeds from  Gain on  Unrealized  Fair Value at
Year  Year  Purchases  Sale  Sale  Loss  June 30, 2017
 2017   $59,000   $—     $—     $—     $(27,000)  $32,000 
Schedule of Gross Realized Gain\Loss on Securities

Realized gains and losses are determined on the basis of specific identification. During the six months ended June 30, 2017 and 2016, sales proceeds and gross realized gains and losses on trading securities were:

 

    June 30,
2017
    June 30,
2016
 
           
  Sales proceeds  $—     $280,000 
  Gross realized (losses)  $—     $—   
  Gross realized gains   —      74,000 
  Gain (loss) on sale of trading securities  $—     $74,000 
Schedule of Fair Value of Assets Measured on Recurring Basis

The following table discloses the assets measured at fair value on a recurring basis and the methods used to determine fair value:

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    June 30, 2017   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   32,000    $                   32,000    $                           -       $                          -   
Money market funds                         36,000                         36,000                                 -                                   -   
Total    $                   68,000    $                   68,000    $                           -       $                          -   

 

 

        Fair Value Measurements at Reporting Date Using
        Quoted Prices   Significant   Significant
        in Active   Other   Unobservable
    Fair Value at   Markets   Observable Inputs   Inputs
    December 31, 2016   (Level 1)   (Level 2)   (Level 3)
Trading securities    $                   59,000    $                   59,000    $                           -       $                          -   
Money market funds                         36,000                         36,000                                 -                                   -   
Total    $                   95,000    $                   95,000    $                           -       $                          -   
XML 27 R16.htm IDEA: XBRL DOCUMENT v3.7.0.1
Property And Equipment (Tables)
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
Schedule of Property and Equipment

Property and equipment consisted of the following:

 

   June 30,
2017
  December 31,
2016
    (Unaudited)      
Equipment  $130,000   $121,000 
Furniture & fixtures   114,000    116,000 
Leasehold improvements   107,000    381,000 
    351,000    618,000 
Less: accumulated depreciation and amortization   (193,000)   (437,000)
   Property and Equipment, Net  $158,000   $181,000 
XML 28 R17.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions (Tables)
6 Months Ended
Jun. 30, 2017
Equity Transactions Tables  
Summarizes Common Stock with Vesting Terms Activity

The following table summarizes common stock with vesting terms activity:

          Weighted
          Average
    Number of     Grant Date
    Shares     Fair Value
Non-vested, December 31, 2016 20,833    $ 0.50
  Granted —      — 
  Vested (20,833)     0.50
  Forfeited —      — 
Non-vested, June 30, 2017 —    $ — 
Summarizes Common Stock Options Activity

The following table summarizes common stock options activity:

          Weighted
          Average
    Options     Exercise Price
December 31, 2016 12,900,000    $ 2.83 
  Granted 720,000      1.00 
  Exercised    
  Cancelled    
  Forfeited (7,500,000)     3.97 
Outstanding, June 30, 2017 6,120,000      3.27 
Exercisable, June 30, 2017 4,840,000    $ 3.30 
Schedule of Weighted Average Excerise Price Range

The weighted average exercise prices, remaining lives for options granted, and exercisable as of June 30, 2017, were as follows:

 

    Outstanding Options       Exercisable Options
Options           Weighted       Weighted
Exercise Price       Life   Average Exercise       Average Exercise
Per Share   Shares   (Years)   Price   Shares   Price
                     
$1.00   1,870,000   0.50 – 3.61   $1.00   1,590,000   $1.00
$2.50   1,250,000   1.50   $2.50   750,000   $2.50
$5.00   3,000,000   2.50   $5.00   2,500,000   $5.00
    6,120,000       $3.27   4,840,000   $3.30
Summarizes Common Stock Warrants Activity

The following table summarizes common stock warrants activity:

 

      Weighted
      Average
      Exercise
   Warrants  Price
 December 31, 2016    200,000   $0.33 
 Granted    1,000,000    1.50 
 Exercised    —      —   
 Cancelled    —      —   
 Forfeited    —      —   
 Outstanding June 30, 2017    1,200,000   $1.54 
 Exercisable June 30, 2017    1,200,000   $1.54 
Schedule of Warrants Weighted Average Excerise Price Range

The weighted average exercise prices, remaining lives for warrants granted, and exercisable as of June 30, 2017, were as follows:

 

    Outstanding and Exercisable Warrants  
Warrants          
Exercise Price       Life  
Per Share   Shares   (Years)  
$0.50   200,000   0.33  
$1.50   500,000   1.50  
$2.00   500,000   1.50  
    1,200,000      
Schedule of Assumptions Used in Valuing the Stock Options and Warrants

The table below represents the average assumptions used in valuing the stock options and warrants granted in fiscal 2017:

 

    Six-Months Ended 
    June 30, 2017 
Expected life in years   1.75 – 3.92 
Stock price volatility   127% - 158% 
Risk free interest rate   1.26 % - 1.60% 
    Expected dividends   —   
Forfeiture rate   —   
XML 29 R18.htm IDEA: XBRL DOCUMENT v3.7.0.1
Discontinued Operations (Tables)
6 Months Ended
Jun. 30, 2017
Discontinued Operations Tables  
Summarizes the Assets and Liabilities of Segment's Discontinued Operations

The following table summarizes the assets and liabilities of our former restaurant segment's discontinued operations as of June 30, 2017 and December 31, 2016:

 

   June 30,
2017
  December 31,
2016
Assets:          
   Accounts receivable, net  $4,000   $13,000 
   Inventory   —      12,000 
   Prepaid expenses   —      25,000 
   Property and equipment, net   6,000    30,000 
   Other assets   2,000    17,000 
Total Assets  $12,000   $97,000 
           
Liabilities:          
   Accounts payable and accrued liabilities   37,000    58,000 
Total Liabilities  $37,000   $58,000 

  

The following table summarizes the results of operations of our former restaurant segment for the three and six months ended June 30, 2017 and 2016 and is included in the condensed consolidated statements of operations as discontinued operations:

 

   For the Three Months Ended
June 30,
  For the Six Months Ended
June 30,
   2017  2016  2017  2016
             
Revenues  $109,000   $345,000   $421,000   $642,000 
Cost of sales   35,000    96,000    134,000    193,000 
          Gross Margin   74,000    249,000    287,000    449,000 
Expenses                    
   Labor and related expenses   55,000    117,000    178,000    234,000 
   Rent   21,000    57,000    82,000    129,000 
   Depreciation and amortization   5,000    18,000    20,000    37,000 
   Professional fees   3,000    3,000    3,000    3,000 
   Other general and administrative   39,000    53,000    89,000    102,000 
          Total Operating Expenses   123,000    248,000    372,000    505,000 
          Operating Income (Loss)   (49,000)   1,000    (85,000)   (56,000)
Other Income (Expense)                    
   Loss on disposal of assets   (19,000)   —      (19,000)   —   
Income (Loss) on discontinued operations  $(68,000)  $1,000   $(104,000)  $(56,000)

 

The following table summarizes cash flow information from our former restaurant segment for the six months ended June 30, 2017 and 2016:

 

   For the Six Months Ended June 30,
   2017  2016
Non-Cash operating items          
     Depreciation and amortization   20,000    37,000 
     Loss on disposal of assets   19,000    —   
     (Increase) decrease in accounts receivables   9,000    (2,000)
     Decrease in inventory   12,000    3,000 
     (Increase) decrease in prepaid expenses   25,000    (8,000)
     Decrease in accounts payable and accrued liabilities   (21,000)   (4,000)
XML 30 R19.htm IDEA: XBRL DOCUMENT v3.7.0.1
Trading Securities (Schedule Of Change In Investment In Securities) (Details) - Trading Securities [Member]
6 Months Ended
Jun. 30, 2017
USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]  
Fair Value at Beginning of Year $ 59,000
Purchases
Proceeds from Sale
Gain on Sale
Unrealized Loss (27,000)
Fair Value at June 30, 2017 $ 32,000
XML 31 R20.htm IDEA: XBRL DOCUMENT v3.7.0.1
Trading Securities (Schedule Of Gross Realized Gain/Loss) (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Trading Securities Schedule Of Gross Realized Gainloss Details        
Sales proceeds     $ 280,000
Gross realized (losses)    
Gross realized gains     74,000
Gain (loss) on sale of trading securities $ 25,000 $ 74,000
XML 32 R21.htm IDEA: XBRL DOCUMENT v3.7.0.1
Trading Securities (Schedule Of Fair Value Of Assets) (Details) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading securities $ 32,000 $ 59,000
Fair Value Measurements At Reporting Date Using Quoted Prices in Active Markets (Level 1) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading securities 32,000 59,000
Money market funds 36,000 36,000
Total 68,000 95,000
Fair Value Measurements At Reporting Date Using Significant Other Observable Inputs (Level 2) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading securities
Money market funds
Total
Fair Value Measurements At Reporting Date Using Significant Unobservable Inputs (Level 3) [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading securities
Money market funds
Total
Fair Value [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Trading securities 32,000 59,000
Money market funds 36,000 36,000
Total $ 68,000 $ 95,000
XML 33 R22.htm IDEA: XBRL DOCUMENT v3.7.0.1
Property And Equipment (Details) - USD ($)
Jun. 30, 2017
Dec. 31, 2016
Property And Equipment Details    
Equipment $ 130,000 $ 121,000
Furniture and fixtures 114,000 116,000
Leasehold improvements 107,000 381,000
Property and Equipment, Gross 351,000 618,000
Less: accumulated depreciation and amortization 193,000 437,000
Property and Equipment, Net $ 158,000 $ 181,000
XML 34 R23.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions (Summarizes Common Stock With Vesting Terms Activity) (Details)
6 Months Ended
Jun. 30, 2017
$ / shares
shares
Number of Shares  
Non-vested balance at the beginning | shares 20,833
Granted | shares
Vested | shares (20,833)
Forfeited | shares
Non-vested balance at the end | shares
Weighted Average Grant Date Fair Value  
Non-vested balance at the beginning | $ / shares $ 0.50
Granted | $ / shares
Vested | $ / shares 0.50
Forfeited | $ / shares
Non-vested balance at the end | $ / shares
XML 35 R24.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions (Summarizes Common Stock Options Activity) (Details)
6 Months Ended
Jun. 30, 2017
$ / shares
shares
Options  
Outstanding, December 31, 2016 | shares 12,900,000
Granted | shares 720,000
Exercised | shares
Cancelled | shares
Forfeited | shares (7,500,000)
Outstanding, June 30, 2017 | shares 6,120,000
Exercisable, June 30, 2017 | shares 4,840,000
Weighted Average Exercise Price  
Outstanding, December 31, 2016 | $ / shares $ 2.83
Granted | $ / shares 1.00
Exercised | $ / shares
Cancelled | $ / shares
Forfeited | $ / shares 3.97
Outstanding, June 30, 2017 | $ / shares 3.27
Exercisable, June 30, 2017 | $ / shares $ 3.30
XML 36 R25.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions (Schedule Of Weighted Average Excerise Price Range) (Details)
6 Months Ended
Jun. 30, 2017
$ / shares
shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Options, Shares | shares 6,120,000
Outstanding Options, Weighted Average Exercise Price | $ / shares $ 3.27
Exercisable Options, Shares | shares 4,840,000
Exercisable Options, Weighted Average Exercise Price | $ / shares $ 3.30
Stock Options [Member] | Exercise Price Per Share $1.00 [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Options, Shares | shares 1,870,000
Outstanding Options, Weighted Average Exercise Price | $ / shares $ 1.00
Exercisable Options, Shares | shares 1,590,000
Exercisable Options, Weighted Average Exercise Price | $ / shares $ 1.00
Stock Options [Member] | Exercise Price Per Share $1.00 [Member] | Minimum [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Options, Life (Years) 6 months
Stock Options [Member] | Exercise Price Per Share $1.00 [Member] | Maximum [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Options, Life (Years) 3 years 7 months 10 days
Stock Options [Member] | Exercise Price Per Share $2.50 [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Options, Shares | shares 1,250,000
Outstanding Options, Life (Years) 1 year 6 months
Outstanding Options, Weighted Average Exercise Price | $ / shares $ 2.50
Exercisable Options, Shares | shares 750,000
Exercisable Options, Weighted Average Exercise Price | $ / shares $ 2.50
Stock Options [Member] | Exercise Price Per Share $5.00 [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Options, Shares | shares 3,000,000
Outstanding Options, Life (Years) 2 years 6 months
Outstanding Options, Weighted Average Exercise Price | $ / shares $ 5.00
Exercisable Options, Shares | shares 2,500,000
Exercisable Options, Weighted Average Exercise Price | $ / shares $ 5.00
XML 37 R26.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions (Summarizes Common Stock Warrants Activity) (Details) - Warrants [Member] - $ / shares
1 Months Ended 6 Months Ended
Mar. 31, 2017
Jun. 30, 2017
Warrants    
December 31, 2016   200,000
Granted 1,000,000 1,000,000
Exercised  
Cancelled  
Forfeited  
Outstanding, June 30, 2017   1,200,000
Exercisable, June 30, 2017   1,200,000
Weighted Average Exercise Price    
December 31, 2016   $ 0.33
Granted   1.50
Exercised  
Cancelled  
Forfeited  
Outstanding, March 31, 2017   1.54
Exercisable, March 31, 2017   $ 1.54
XML 38 R27.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions (Schedule Of Warrants Weighted Average Excerise Price Range) (Details)
6 Months Ended
Jun. 30, 2017
$ / shares
shares
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Warrants, Shares 6,120,000
Warrants [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Warrants, Shares 1,200,000
Warrants [Member] | Exercise Price Per Share $0.50 [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Warrants, Shares 200,000
Outstanding Warrants, Life (Years) 3 months 29 days
Warrants exercise price, per share | $ / shares $ 0.50
Warrants [Member] | Exercise Price Per Share $1.50 [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Warrants, Shares 500,000
Outstanding Warrants, Life (Years) 1 year 6 months
Warrants exercise price, per share | $ / shares $ 1.50
Warrants [Member] | Exercise Price Per Share $2.00 [Member]  
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items]  
Outstanding Warrants, Shares 500,000
Outstanding Warrants, Life (Years) 1 year 6 months
Warrants exercise price, per share | $ / shares $ 2.00
XML 39 R28.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions (Schedule Of Assumptions Used In Valuing The Stock Options And Warrants) (Details) - Stock Options And Warrants [Member]
6 Months Ended
Jun. 30, 2017
Assumptions - Black Scholes Model:  
Expected dividends
Forfeiture rate
Minimum [Member]  
Assumptions - Black Scholes Model:  
Expected life in years 1 year 9 months
Stock price volatility 127.00%
Risk free interest rate 1.26%
Maximum [Member]  
Assumptions - Black Scholes Model:  
Expected life in years 3 years 11 months 1 day
Stock price volatility 158.00%
Risk free interest rate 1.60%
XML 40 R29.htm IDEA: XBRL DOCUMENT v3.7.0.1
Discontinued Operations (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Assets:          
Prepaid expenses $ 69,000   $ 69,000   $ 25,000
Property and equipment, net 158,000   158,000   181,000
Other assets 5,000   5,000   5,000
Total Assets 1,911,000   1,911,000   3,860,000
Liabilities:          
Accounts payable and accrued liabilities 139,000   139,000   118,000
Total Liabilities 301,000   301,000   176,000
Revenues 32,000 $ 30,000 84,000 $ 65,000  
Expenses          
Labor and related expenses 308,000 220,000 1,678,000 656,000  
Rent 49,000 35,000 87,000 67,000  
Depreciation and amortization 30,000 20,000 45,000 39,000  
Professional fees 1,300,000 319,000 2,892,000 538,000  
Other general and administrative 370,000 313,000 703,000 474,000  
Total Operating Expenses 2,209,000 1,015,000 5,670,000 1,957,000  
Operating Income (Loss) (2,177,000) (985,000) (5,586,000) (1,892,000)  
Other Income (Expense)          
Income (Loss) on discontinued operations (2,188,000) (1,140,000) (5,609,000) (1,892,000)  
Non-Cash operating items          
(Increase) decrease in accounts receivables     (10,000) 13,000  
(Increase) decrease in prepaid expenses     44,000 36,000  
Decrease in accounts payable and accrued liabilities     21,000 (21,000)  
Discontinued Operations From Former Restaurant Segment [Member]          
Assets:          
Accounts receivable, net 4,000   4,000   13,000
Inventory     12,000
Prepaid expenses     25,000
Property and equipment, net 6,000   6,000   30,000
Other assets 2,000   2,000   17,000
Total Assets 12,000   12,000   97,000
Liabilities:          
Accounts payable and accrued liabilities 37,000   37,000   58,000
Total Liabilities 37,000   37,000   $ 58,000
Revenues 109,000 345,000 421,000 642,000  
Cost of sales 35,000 96,000 134,000 193,000  
Gross Margin 74,000 249,000 287,000 449,000  
Expenses          
Labor and related expenses 55,000 117,000 178,000 234,000  
Rent 21,000 57,000 82,000 129,000  
Depreciation and amortization 5,000 18,000 20,000 37,000  
Professional fees 3,000 3,000 3,000 3,000  
Other general and administrative 39,000 53,000 89,000 102,000  
Total Operating Expenses 123,000 248,000 372,000 505,000  
Operating Income (Loss) (49,000) 1,000 (85,000) (56,000)  
Other Income (Expense)          
Loss on disposal of assets (19,000) (19,000)  
Income (Loss) on discontinued operations $ (68,000) $ 1,000 (104,000) (56,000)  
Non-Cash operating items          
(Increase) decrease in accounts receivables     (9,000) 2,000  
Decrease in inventory     (12,000) (3,000)  
(Increase) decrease in prepaid expenses     (25,000) 8,000  
Decrease in accounts payable and accrued liabilities     $ (21,000) $ (4,000)  
XML 41 R30.htm IDEA: XBRL DOCUMENT v3.7.0.1
Organization And Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($)
6 Months Ended 36 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Dec. 31, 2016
Non-Exclusive Limited Right To Incorporate Intellectual Property [Member]      
Capitalized licensing rights, additions $ 175,000    
Estimated useful life of gaming applications 1 year 7 months 6 days    
Additions towards settlement with the game owner and developer $ 100,000    
One Gaming Applications [Member]      
Capitalized licensing rights, additions     $ 50,000
Estimated useful life of gaming applications 5 years    
Capitalized Licensing Rights [Member]      
Unamortized capitalized licensing rights $ 295,000   $ 40,000
Capitalized licensing rights, amortization 20,000    
Other General And Administrative Expense [Member]      
Software licensing and publication cost $ 501,000 $ 195,000  
Class A Preferred Stock [Member]      
Antidilutive shares excluded from computation of basic earnings per share 26,909,028 26,909,028  
Class E Preferred Stock [Member]      
Antidilutive shares excluded from computation of basic earnings per share 185,874 365,738  
Stock Options [Member]      
Antidilutive shares excluded from computation of basic earnings per share 6,120,000    
Warrants [Member]      
Antidilutive shares excluded from computation of basic earnings per share 1,200,000    
Non-Vested Common [Member]      
Antidilutive shares excluded from computation of basic earnings per share   154,166  
XML 42 R31.htm IDEA: XBRL DOCUMENT v3.7.0.1
Property And Equipment (Narrative) (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Jun. 30, 2017
Jun. 30, 2016
Property, Plant and Equipment [Line Items]        
Depreciation and amortization expenses $ 30,000 $ 20,000 $ 45,000 $ 39,000
Property And Equipment [Member]        
Property, Plant and Equipment [Line Items]        
Depreciation and amortization expenses     $ 23,000 $ 39,000
XML 43 R32.htm IDEA: XBRL DOCUMENT v3.7.0.1
Equity Transactions (Narrative) (Details) - USD ($)
1 Months Ended 6 Months Ended 12 Months Ended
Mar. 31, 2017
Feb. 28, 2015
Jun. 30, 2017
Dec. 31, 2016
Stock issued for cash, value     $ 300,000  
Stock issued for employee for services, value     847,000  
Stock issued to consultants for services, value     $ 1,699,000  
Stock options granted      
Stock Options [Member]        
Stock options terms    

All outstanding options had an exercise price greater than $0.51 per share.

 
Closing stock price     $ 0.51  
Intrinsic value of stock price     $ 0  
Warrants [Member]        
Recognized compensation expense $ 290,000      
Stock options terms

The Company granted warrants to purchase a total of 1,000,000 shares of restricted common stock with an exercise price of $1.50 and $2.00 which will expire December 31, 2018.

     
Closing stock price     $ 0.51  
Intrinsic value of stock price     $ 2,000  
No of warrants granted 1,000,000   1,000,000  
Consultants [Member] | Stock Options [Member]        
Stock options granted     720,000  
No of shares vested     440,000  
Recognized compensation expense     $ 247,000  
Unvested compensation costs not yet recognized     $ 167,000  
Stock options terms    

A total of 440,000 options vested upon grant while the remaining 280,000 options will vest through February 2018 at a rate of 35,000 shares per month. The options are exercisable at $1.00 per share.

 
Stock options expire period     4 years  
Consulting Agreement [ Member]        
No of shares vested     20,833 479,167
Recognized compensation expense     $ 46,000  
Unvested compensation shares not yet recognized     0 20,833
Unvested compensation costs not yet recognized     $ 0  
Restricted Common Stock [Member] | Consultants [Member]        
Stock issued to consultants for services, shares     2,715,000  
Stock issued to consultants for services, value     $ 1,699,000  
Restricted Common Stock [Member] | Consulting Agreement [ Member]        
Stock options granted   500,000    
Stock or warrants vesting period   24 months    
Restricted Common Stock [Member] | Existing Shareholder And Former Officer / Employee [Member]        
Stock issued for cash, shares     750,000  
Stock issued for cash, value     $ 300,000  
Fair value of stock issued for cash at sale date     510,000  
Additional compensation expense to difference between sale price and fair market value of shares sold     $ 210,000  
Common Stock [Member]        
Stock issued for cash, shares     750,000  
Stock issued for cash, value     $ 75  
Stock issued for employee for services, shares     1,250,000  
Stock issued for employee for services, value     $ 125  
Stock issued to consultants for services, shares     2,715,000  
Stock issued to consultants for services, value     $ 272  
Common Stock [Member] | Employees [Member]        
Stock issued for employee for services, shares     1,250,000  
Stock issued for employee for services, value     $ 847,000  
XML 44 R33.htm IDEA: XBRL DOCUMENT v3.7.0.1
Commitments And Contingencies (Narrative) (Details) - Suit Relates To Issuance Of Convertible Debentures [Member]
Oct. 14, 2015
USD ($)
Loss Contingencies [Line Items]  
Defendant name

SPYR, Inc., f/k/a Eat at Joe’s., Ltd

Plaintiff name

Zakeni Limited

Domicile of litigation

Case filed in the United States District Court for the District of Delaware case

Sought damages value $ 1,500,000
Sought damages description

The plaintiff is seeking payment or conversion of said convertible debentures together with accrued interest and unspecified damages.

Trial commencement month and year 2018-07
XML 45 R34.htm IDEA: XBRL DOCUMENT v3.7.0.1
Subsequent Events (Narrative) (Details) - USD ($)
1 Months Ended 6 Months Ended
Aug. 14, 2017
Jun. 30, 2017
Subsequent Event [Line Items]    
Stock issued for services, value   $ 1,699,000
Common Stock [Member]    
Subsequent Event [Line Items]    
Stock issued for services, shares   2,715,000
Stock issued for services, value   $ 272
Subsequent Event [Member] | Common Stock [Member] | Third Party Service Providers [Member]    
Subsequent Event [Line Items]    
Stock issued for services, shares 70,000  
Stock issued for services, value $ 26,000  
EXCEL 46 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 47 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 48 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 50 FilingSummary.xml IDEA: XBRL DOCUMENT 3.7.0.1 html 96 217 1 false 42 0 false 4 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://spyr.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - Condensed Consolidated Balance Sheets Sheet http://spyr.com/role/BalanceSheets Condensed Consolidated Balance Sheets Statements 2 false false R3.htm 00000003 - Statement - Condensed Consolidated Balance Sheets (Parenthetical) Sheet http://spyr.com/role/BalanceSheetsParenthetical Condensed Consolidated Balance Sheets (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - Condensed Consolidated Statements Of Operations (Unaudited) Sheet http://spyr.com/role/StatementsOfOperations Condensed Consolidated Statements Of Operations (Unaudited) Statements 4 false false R5.htm 00000005 - Statement - Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) Sheet http://spyr.com/role/StatementsOfChangesInStockholdersEquity Condensed Consolidated Statements Of Changes In Stockholders' Equity (Unaudited) Statements 5 false false R6.htm 00000006 - Statement - Condensed Consolidated Statements Of Cash Flows (Unaudited) Sheet http://spyr.com/role/StatementsOfCashFlows Condensed Consolidated Statements Of Cash Flows (Unaudited) Statements 6 false false R7.htm 00000007 - Disclosure - Organization And Summary Of Significant Accounting Policies Sheet http://spyr.com/role/OrganizationAndSummaryOfSignificantAccountingPolicies Organization And Summary Of Significant Accounting Policies Notes 7 false false R8.htm 00000008 - Disclosure - Trading Securities Sheet http://spyr.com/role/TradingSecurities Trading Securities Notes 8 false false R9.htm 00000009 - Disclosure - Property And Equipment Sheet http://spyr.com/role/PropertyAndEquipment Property And Equipment Notes 9 false false R10.htm 00000010 - Disclosure - Equity Transactions Sheet http://spyr.com/role/EquityTransactions Equity Transactions Notes 10 false false R11.htm 00000011 - Disclosure - Commitments And Contingencies Sheet http://spyr.com/role/CommitmentsAndContingencies Commitments And Contingencies Notes 11 false false R12.htm 00000012 - Disclosure - Discontinued Operations Sheet http://spyr.com/role/DiscontinuedOperations Discontinued Operations Notes 12 false false R13.htm 00000013 - Disclosure - Subsequent Events Sheet http://spyr.com/role/SubsequentEvents Subsequent Events Notes 13 false false R14.htm 00000014 - Disclosure - Organization And Summary Of Significant Accounting Policies (Policies) Sheet http://spyr.com/role/OrganizationAndSummaryOfSignificantAccountingPoliciesPolicies Organization And Summary Of Significant Accounting Policies (Policies) Policies http://spyr.com/role/OrganizationAndSummaryOfSignificantAccountingPolicies 14 false false R15.htm 00000015 - Disclosure - Trading Securities (Tables) Sheet http://spyr.com/role/TradingSecuritiesTables Trading Securities (Tables) Tables http://spyr.com/role/TradingSecurities 15 false false R16.htm 00000016 - Disclosure - Property And Equipment (Tables) Sheet http://spyr.com/role/PropertyAndEquipmentTables Property And Equipment (Tables) Tables http://spyr.com/role/PropertyAndEquipment 16 false false R17.htm 00000017 - Disclosure - Equity Transactions (Tables) Sheet http://spyr.com/role/EquityTransactionsTables Equity Transactions (Tables) Tables http://spyr.com/role/EquityTransactions 17 false false R18.htm 00000018 - Disclosure - Discontinued Operations (Tables) Sheet http://spyr.com/role/DiscontinuedOperationsTables Discontinued Operations (Tables) Tables http://spyr.com/role/DiscontinuedOperations 18 false false R19.htm 00000019 - Disclosure - Trading Securities (Schedule Of Change In Investment In Securities) (Details) Sheet http://spyr.com/role/TradingSecuritiesScheduleOfChangeInInvestmentInSecuritiesDetails Trading Securities (Schedule Of Change In Investment In Securities) (Details) Details http://spyr.com/role/TradingSecuritiesTables 19 false false R20.htm 00000020 - Disclosure - Trading Securities (Schedule Of Gross Realized Gain/Loss) (Details) Sheet http://spyr.com/role/TradingSecuritiesScheduleOfGrossRealizedGainlossDetails Trading Securities (Schedule Of Gross Realized Gain/Loss) (Details) Details http://spyr.com/role/TradingSecuritiesTables 20 false false R21.htm 00000021 - Disclosure - Trading Securities (Schedule Of Fair Value Of Assets) (Details) Sheet http://spyr.com/role/TradingSecuritiesScheduleOfFairValueOfAssetsDetails Trading Securities (Schedule Of Fair Value Of Assets) (Details) Details http://spyr.com/role/TradingSecuritiesTables 21 false false R22.htm 00000022 - Disclosure - Property And Equipment (Details) Sheet http://spyr.com/role/PropertyAndEquipmentDetails Property And Equipment (Details) Details http://spyr.com/role/PropertyAndEquipmentTables 22 false false R23.htm 00000023 - Disclosure - Equity Transactions (Summarizes Common Stock With Vesting Terms Activity) (Details) Sheet http://spyr.com/role/EquityTransactionsSummarizesCommonStockWithVestingTermsActivityDetails Equity Transactions (Summarizes Common Stock With Vesting Terms Activity) (Details) Details http://spyr.com/role/EquityTransactionsTables 23 false false R24.htm 00000024 - Disclosure - Equity Transactions (Summarizes Common Stock Options Activity) (Details) Sheet http://spyr.com/role/EquityTransactionsSummarizesCommonStockOptionsActivityDetails Equity Transactions (Summarizes Common Stock Options Activity) (Details) Details http://spyr.com/role/EquityTransactionsTables 24 false false R25.htm 00000025 - Disclosure - Equity Transactions (Schedule Of Weighted Average Excerise Price Range) (Details) Sheet http://spyr.com/role/EquityTransactionsScheduleOfWeightedAverageExcerisePriceRangeDetails Equity Transactions (Schedule Of Weighted Average Excerise Price Range) (Details) Details http://spyr.com/role/EquityTransactionsTables 25 false false R26.htm 00000026 - Disclosure - Equity Transactions (Summarizes Common Stock Warrants Activity) (Details) Sheet http://spyr.com/role/EquityTransactionsSummarizesCommonStockWarrantsActivityDetails Equity Transactions (Summarizes Common Stock Warrants Activity) (Details) Details http://spyr.com/role/EquityTransactionsTables 26 false false R27.htm 00000027 - Disclosure - Equity Transactions (Schedule Of Warrants Weighted Average Excerise Price Range) (Details) Sheet http://spyr.com/role/EquityTransactionsScheduleOfWarrantsWeightedAverageExcerisePriceRangeDetails Equity Transactions (Schedule Of Warrants Weighted Average Excerise Price Range) (Details) Details http://spyr.com/role/EquityTransactionsTables 27 false false R28.htm 00000028 - Disclosure - Equity Transactions (Schedule Of Assumptions Used In Valuing The Stock Options And Warrants) (Details) Sheet http://spyr.com/role/EquityTransactionsScheduleOfAssumptionsUsedInValuingStockOptionsAndWarrantsDetails Equity Transactions (Schedule Of Assumptions Used In Valuing The Stock Options And Warrants) (Details) Details http://spyr.com/role/EquityTransactionsTables 28 false false R29.htm 00000029 - Disclosure - Discontinued Operations (Details) Sheet http://spyr.com/role/DiscontinuedOperationsDetails Discontinued Operations (Details) Details http://spyr.com/role/DiscontinuedOperationsTables 29 false false R30.htm 00000030 - Disclosure - Organization And Summary Of Significant Accounting Policies (Narrative) (Details) Sheet http://spyr.com/role/OrganizationAndSummaryOfSignificantAccountingPoliciesNarrativeDetails Organization And Summary Of Significant Accounting Policies (Narrative) (Details) Details http://spyr.com/role/OrganizationAndSummaryOfSignificantAccountingPoliciesPolicies 30 false false R31.htm 00000031 - Disclosure - Property And Equipment (Narrative) (Details) Sheet http://spyr.com/role/PropertyAndEquipmentNarrativeDetails Property And Equipment (Narrative) (Details) Details http://spyr.com/role/PropertyAndEquipmentTables 31 false false R32.htm 00000032 - Disclosure - Equity Transactions (Narrative) (Details) Sheet http://spyr.com/role/EquityTransactionsNarrativeDetails Equity Transactions (Narrative) (Details) Details http://spyr.com/role/EquityTransactionsTables 32 false false R33.htm 00000033 - Disclosure - Commitments And Contingencies (Narrative) (Details) Sheet http://spyr.com/role/CommitmentsAndContingenciesNarrativeDetails Commitments And Contingencies (Narrative) (Details) Details http://spyr.com/role/CommitmentsAndContingencies 33 false false R34.htm 00000034 - Disclosure - Subsequent Events (Narrative) (Details) Sheet http://spyr.com/role/SubsequentEventsNarrativeDetails Subsequent Events (Narrative) (Details) Details http://spyr.com/role/SubsequentEvents 34 false false All Reports Book All Reports spyr-20170630.xml spyr-20170630.xsd spyr-20170630_cal.xml spyr-20170630_def.xml spyr-20170630_lab.xml spyr-20170630_pre.xml true true ZIP 52 0001262463-17-000180-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001262463-17-000180-xbrl.zip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�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end