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Note 6 - Warrants (Tables)

9 Months Ended

Sep. 30, 2017

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

Balance, September 30, 2016	Number of
	Shares			Price Range
Outstanding as of December 31, 20 15		13,779,438		$0.125	–	1.00
Issued		5,670,996		0.35	–	0.70
Exercised		(1,150,000	)	0.30	–	0.45
Expired		(263,545	)	0.55	–	0.75
Outstanding as of September 30, 2016		18,036,889		$0.125	–	1.00

Balance, September 30, 201 7	Number of
	Shares			Price Range
Outstanding as of December 31, 2016		20,035,114		$0.125	–	1.00
Issued		2,499,933		0.42	–	0.70
Exercised		(510,000	)		0.30
Expired		(250,000	)	0.25	–	0.30
Outstanding as of September 30, 2017		21,775,047		$0.125	–	1.00

Schedule Of Assumptions Used To Determine Fair Value Of Warrants [Table Text Block]

	2016			2017
Risk free interest rate	0.95	–	1.36%	1.71	–	1.93%
Expected volatility	311	–	315%	293	–	297%
Expected dividend yield		—			—
Forfeiture rate		—			—
Expected life in years		5			5

- Definition

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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