SUBSEQUENT EVENTS |
6 Months Ended | |
|---|---|---|
Jun. 30, 2017 | ||
| Subsequent Events [Abstract] | ||
| Subsequent Events [Text Block] | NOTE 12 — SUBSEQUENT EVENTS Convertible Debt Financing On July 24, 2017, the Company entered into a Private Placement Engagement Agreement with WestPark Capital, Inc. for the purpose of raising up to $1,150,000 in convertible debt. The Promissory Notes will bear interest at 15% and be convertible to common stock concurrent with a potential merger (see Note 3) at the lesser of $0.75 per share or 75% of the average market value of the Company’s common stock for the five days preceding the consummation of such merger. Otherwise, the Notes become due March 31, 2019. For every $2.50 in Note principal purchased, investors will receive one Warrant, exercisable for five years, to purchase shares of common stock at $2.00. As of August 18, 2017, $308,500 has been raised under this arrangement. |