LOSS PER SHARE APPLICABLE TO COMMON SHAREHOLDERS (Tables)

9 Months Ended

Sep. 30, 2015

	Three Months Ended September 30,				Nine Months Ended September 30,
	2015		2014		2015		2014
Loss applicable to common stockholders	$	(6,956,926)	$	(379,498)	$	(7,506,403)	$	(791,709)

Basic and diluted loss per common share	$	(0.26)	$	(0.02)	$	(0.29)	$	(0.04)

Weighted average common shares outstanding:
Basic and diluted shares		26,300,868		21,783,591		26,027,706		20,501,232

Potentially dilutive securities (1):
Stock options (2)		1,000,000		-		1,000,000		-
Stock warrants (2)		35,000,000		-		35,000,000		-

	(1)	Excludes grants with performance conditions that have not yet been satisfied.
	(2)	The impact of the warrants and options on earnings per share is antidilutive in a period of loss.