NanoFlex Power (OPVS) 10-Q 11 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 09, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	NanoFlex Power Corp
Entity Central Index Key	1,571,636
Amendment Flag	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		57,451,473

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash	$ 68,494	$ 6,255
Accounts receivable		$ 95,623
Subscription receivable	$ 40,062
Prepaid expenses and other current assets	3,582	$ 854
Total current assets	112,138	102,732
Property and equipment, net	12,020	13,735
Total assets	124,158	116,467
Current liabilities:
Accounts payable	$ 3,337,575	3,341,905
Accounts payable- related party		62,469
Accrued expenses	$ 1,230,021	1,840,537
Warrant derivative liability	6,975,432	12,796,146
Conversion option derivative liability	4,619,063	8,145,160
Short-term debt, net of unamortized discounts	$ 150,000	150,000
Short-term debt- related party, net of unamortized discounts		670,848
Convertible debt, net of unamortized discounts	$ 1,196,704	1,051,545
Advances - related party	300,000	110,000
Total current liabilities	17,808,795	28,168,610
Total liabilities	17,808,795	28,168,610
Stockholders' deficit:
Common stock, 250,000,000 authorized, $0.0001 par value, 56,372,875 and 51,473,157 issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	5,639	5,148
Additional paid-in capital	191,805,505	176,932,064
Accumulated deficit	(209,495,781)	(204,989,355)
Total stockholders' deficit	(17,684,637)	(28,052,143)
Total liabilities and stockholders' deficit	$ 124,158	$ 116,467

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Balance Sheets [Abstract]
Common stock, shares authorized	250,000,000	250,000,000
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares issued	56,372,875	51,473,157
Common stock, shares, outstanding	56,372,875	51,473,157

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statements of Operations [Abstract]
Revenue
Cost of services	$ (153,476)
Gross loss	(153,476)
Operating expenses:
Research and development	267,526	$ 225,709
Patent application and prosecution fees	349,742	551,680
Selling, general and administrative expenses	688,976	588,556
Total operating expenses	1,306,244	1,365,945
Loss from operations	(1,459,720)	(1,365,945)
Other income (expenses):
Gain (loss) on change in fair value of derivative	3,125,584	$ (2,455,482)
Loss on extinguishment of debt	(3,632,942)
Interest expense	(2,539,348)	$ (94,622)
Total other expense	(3,046,706)	(2,550,104)
Loss before income tax benefit	$ (4,506,426)	$ (3,916,049)
Income tax benefit
Net loss	$ (4,506,426)	$ (3,916,049)
Net loss per share, basic and diluted	$ (0.08)	$ (0.09)
Weighted average common shares outstanding, basic and diluted	54,824,864	44,762,594

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (4,506,426)	$ (3,916,049)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	1,715	$ 1,405
Warrants issued as compensation	435,136
Options issued as compensation	4,163
Amortization of debt discounts	2,349,107	$ 74,013
Loss on extinguishment of debt	3,632,942
(Gain) loss on change in fair value of derivative liabilities	(3,125,584)	$ 2,455,482
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(2,728)	$ 2,352
Accounts receivable	95,623
Accounts payable	(4,330)	$ 785,187
Accounts payable - related party	(62,469)	(44,379)
Accrued expenses	(382,190)	(249,547)
Net cash used in operating activities	(1,565,041)	(891,536)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common shares and warrants	$ 132,280	86,000
Proceeds from exercise of warrants		$ 324,824
Borrowings on related party debt	$ 1,375,000
Payments on related party debt	(150,000)
Borrowings on convertible debt	80,000	$ 700,000
Advances received from related party	310,000	51,850
Advances repaid to related party	(120,000)	(265,000)
Net cash provided by financing activities	1,627,280	897,674
NET INCREASE (DECREASE) IN CASH	62,239	6,138
Cash, beginning of the period	6,255	168
Cash, end of the period	68,494	$ 6,306
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	$ 509
Cash paid for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES
Debt discount due to derivative liabilities	$ 2,041,795
Principal and interest converted into common stock	2,190,790
Common stock and warrants issued for receivable	40,062
Common stock and warrants issued for extinguishment of liabilities	537,175
Debt discount on beneficial conversion feature and warrants issued with debt	1,034,383	$ 225,426
Resolution of derivative liabilities	$ 8,263,022
Reclassification of warrants as derivative liabilities		$ 76,368

Background Basis of Presentatio

Background Basis of Presentation, and Going Concern	3 Months Ended
	Mar. 31, 2016
Background, Basis of Presentation, and Going Concern [Abstract]
BACKGROUND, BASIS OF PRESENTATION, AND GOING CONCERN	1. BACKGROUND, BASIS OF PRESENTATION, AND GOING CONCERN: Background NanoFlex Power Corporation, formerly known as Universal Technology Systems, Corp., was incorporated in the State of Florida on January 28, 2013. On September 24, 2013, the Company completed the acquisition of Global Photonic Energy Corporation, a Pennsylvania corporation (“GPEC”), pursuant to a Share Exchange Agreement (the “Share Exchange Transaction”). Immediately following the closing of the Share Exchange Transaction, the Company owned 100% of equity interests of GPEC and GPEC became a wholly-owned subsidiary of the Company. On November 25, 2013, the Company changed its name from “Universal Technology Systems, Corp.” to “NanoFlex Power Corporation” and its trading symbol was changed to “OPVS” on December 26, 2013. GPEC was incorporated in Pennsylvania on February 7, 1994. The Company is organized to fund, develop, commercialize and license advanced configuration solar technologies which enable unique thin-film solar cell implementations with industry-leading efficiencies, light weight, flexibility, and low total system cost. These technologies are targeted at certain broad applications, including: (a) mobile and field power generation, (b) building applied photovoltaics ("BAPV"), (c) building integrated photovoltaics ("BIPV"), (d) space vehicles and unmanned aerial vehicles ("UAVs"), (e) semi-transparent solar power generating windows or glazing, and (f) ultra-thin solar films or paints for automobiles or other consumer applications. Laboratory feasibility prototypes have been developed that successfully demonstrate key building block principles for these applications and the Company is working with industry partners to commercialize its technologies. Basis of Presentation The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures have been or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying consolidated financial statements include normal recurring adjustments that are necessary for a fair presentation of the results for the interim periods presented. These consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the fiscal year ended December 31, 2015 included in our Annual Report on Form 10-K. The results of operations for the three months ended March 31, 2016 are not necessarily indicative of results to be expected for the full fiscal year or any other periods. The preparation of the consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make a number of estimates and judgments that affect the reported amounts of assets, liabilities, expenses, and related disclosures. Actual results may differ from these estimates. Revision of Previously-Issued Financial Statements During the three months ended June 30, 2015, the Company identified errors in its financial statements for the last quarter of the fiscal year ended December 31, 2013, all quarters of fiscal year ended December 31, 2014, and the first quarter of fiscal year ended December 31, 2015 as included in the Company’s 2013 annual report on Form 10-K, the Company’s 2014 interim reports on Form 10-Q, the Company’s 2014 annual report on Form 10-K, and Company’s first quarter of 2015 interim reports on Form 10-Q, respectively, related to an unrecorded derivative liability and the related gain or loss on the change in fair value of the derivative liability. The derivative liability is associated with certain warrants containing anti-dilution features that cause the instruments to no longer be indexed to the Company’s own stock. The Company has made adjustments in each period related to this. The Company assessed the effect of the above errors in the aggregate on prior periods’ financial statements in accordance with the SEC’s Staff Accounting Bulletins No. 99 and 108 and, based on an analysis of quantitative and qualitative factors, determined that the errors were not material to any of the Company’s prior interim and annual financial statements. The Company determined that the correction of the cumulative amounts of the errors would be material to the three months ended March 31, 2015 financial statements, and as such, the Company revised its previously-issued financial statements for each period in 2013, 2014 and 2015. The financial statements for the three months ended March 31, 2015 included in this Form 10-Q are revised as described below for those adjustments. All financial information contained in the accompanying notes to these financial statements has been revised to reflect the correction of these errors. The following tables present the effect of the aforementioned revisions on the Company’s consolidated statements of operations for the three months ended March 31, 2015: Three Months Ended March 31, 2015 As Reported Revision As Revised Gain (loss) on change in fair value of derivative $ - $ 2,455,482 $ 2,455,482 Total other expense (94,622 ) (2,455,482 ) 2,360,860 Loss before income tax benefit (1,460,567 ) (2,455,482 ) 994,915 Net (loss) income (1,460,567 ) (2,455,482 ) 994,915 Net loss per share (basic and diluted) (0.03 ) (0.05 ) 0.02 The following tables present the effect of the aforementioned revisions on the Company’s consolidated statements of cash flows for the three months ended March 31, 2015. Three Months Ended March 31, 2015 As Reported Revision As Revised Cash flows from operating activities: Net loss $ (1,460,567 ) $ 2,455,482 $ 994,915 Adjustments to reconcile net loss to net cash used in operating activities: (Gain) loss on change in fair value of derivative - (2,455,482 ) (2,455,482 ) NON-CASH INVESTING AND FINANCING ACTIVITIES Reclassification of warrants as derivative liabilities - 76,369 76,369 Going Concern The Company has not generated revenues in the current year. The Company has a working capital deficit of $17,696,657 and an accumulated deficit of $209,495,781 as of March 31, 2016. The ability of the Company to continue as a going concern is dependent on raising capital to fund ongoing operations and carry out its business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. To date, the Company has funded its initial operations primarily by way of the sale of equity securities, convertible note financing, short term financing from private parties, and advances from related parties. Fair Value ASC 820 Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. As of March 31, 2016 the significant inputs to the Company’s derivative liability calculation were Level 3 inputs. The following schedule summarizes the valuation of financial instruments at fair value in the balance sheets as of March 31, 2016 and December 31, 2015: Fair Value Measurements as of Level 1 Level 2 Level 3 Assets None $ $ $ Total assets - - - Liabilities Warrant derivative liability - - 6,975,432 Conversion option derivative liability - - 4,619,063 Total liabilities - - 11,594,495 Fair Value Measurements as of Level 1 Level 2 Level 3 Assets None $ $ $ Total assets - - - Liabilities Warrant derivative liability - - 12,796,146 Conversion option derivative liability - - 8,145,160 Total liabilities - - 20,941,306 The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy: Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2016 2015 Beginning balance 20,941,306 847,791 Change in fair value (9,487,133 ) 2,455,482 Additions reclassified from equity - - Additions recognized as debt discounts 2,041,795 76,369 Additions recognized as derivative expense 6,361,549 - Resolution of derivative liabilities (8,263,022 ) - Ending balance 11,594,495 3,379,642

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
DEBT	2. DEBT Notes Payable The Company has a note payable of $100,000 due to its former Chief Executive Officer and President. The note is due on demand and bears an interest rate at the minimum applicable rate for loans of similar duration, which was 0.5% as of March 31, 2016. During the year ended December 31, 2015, the Company issued a promissory note of $50,000. The term of the note expires 120 days from the effective date. 100,000 cashless warrants for the Company’s common shares were issued with the debt at a strike price of $0.50/share in lieu of cash interest. As of March 31, 2016, the outstanding balance under these notes is $50,000. The relative fair value of the warrants of $45,243 was recognized as a debt discount which is being amortized on a straight-line basis over the term of the note. The Company recognized interest expense of $45,243 associated with the amortization of debt discount for the year ended December 31, 2015. This note is currently past due and in default. The Company is in the process of renegotiating the terms of this agreement. As of March 31, 2016 and December 31, 2015, the aggregate outstanding balance of non-convertible notes payable was $150,000. Notes Payable – Related Party On February 26, 2014, the Company borrowed $150,000 under a short term note agreement with a related party, the Chief Executive Officer’s son. Under the terms of this agreement, the note was to be repaid within 6 months of funding. In November 2014, the note agreement was amended to extend the due date to February 26, 2015, and in April of 2015, the note agreement was amended to extend the maturity date to February 26, 2016 and set a 4% simple interest rate on the note. This note was paid in full in January of 2016 along with $509 of accrued interest. In 2015, the Company issued promissory notes to a majority shareholder in aggregate of $625,000 (“Notes #1 to #4”). The notes have a term ranging from 120 – 150 days from the effective date. 1,250,000 cashless warrants for the Company’s common shares were issued with the debt at a strike price of $0.50/share in lieu of cash interest. On January 6, 2016, the Company issued an additional promissory note to the same majority shareholder in the amount of $1,375,000 in exchange for a loan in that amount (“Note #5). The Company issued 2,750,000 warrants in connection with this Note #5, for the Company’s common stock at an exercise price of $0.50 per share. The total relative fair value of the warrants of $996,178 was recognized as a debt discount which is being amortized on a straight-line basis over the term of the notes. Notes #1 to #4 and Note #5 shall be collectively referred to herein as the “$2M Notes.” On January 22, 2016, the Company entered into a Note Conversion Agreement (the “Conversion Agreement”) with the holder of the $2M Notes. Pursuant to the Conversion Agreement, the investor converted the $2M Notes, which totaled $2,000,000, into an investment of $2,000,000 into the Company’s private placement of convertible notes and warrants. This extinguishment of the $2M Notes resulted in a loss on extinguishment of debt of $3,163,303 which included an unamortized discount of $926,382 and $2,236,921 representing the fair value of 2,000,000 warrants issued in connection with the Note Conversion Agreement. On January 25, 2016, the investor converted the convertible note and accrued interest into 4,320,000 shares of the Company’s common stock and a warrant to purchase 4,320,000 shares of the Company’s common stock with a ten year term and an exercise price of $.50. Of the 4,320,000 shares of common stock, 320,000 shares represent interest paid on the convertible note pursuant to the terms of the conversion agreement in the amount of $160,000. Upon conversion, the Company wrote-off the fair value of the derivative liability associated with the converted notes of $8,123,109 to additional paid-in capital. As of March 31, 2016 and December 31, 2015, the aggregate outstanding balance of notes payable to related parties was $0 and $670,848, respectively, net of unamortized discounts of $0 and $104,152. Advances – Related Party During the three months ended March 31, 2016, the Company received advances from its Chief Executive Officer totaling $310,000 and repaid advances totaling $120,000. During the three months ended March 31, 2015, the Company received advances from its Chief Executive Officer totaling $51,850 and repaid advances totaling $265,000. Such advances do not accrue interest and are payable upon demand. As of March 31, 2016 and December 31, 2015, the aggregate outstanding balance of advances to related parties was $300,000 and $110,000, respectively. Convertible Notes Payable In addition to the $2,000,000 convertible note described above in the notes payable-related party section, on March 7, 2016, the Company received proceeds of $80,000 in exchange for a convertible note and the issuance of 80,000 warrants with a five year life and an exercise price of $0.50 per share. The convertible note has a principal amount of $80,000, interest of 8% per annum, a maturity date of one year and is convertible into 160,000 units, with each unit consisting of a share of common stock and a warrant with a five year life from the date of conversion and an exercise price of $0.50 per share, subject to certain anti-dilution provisions. The relative fair value of the 80,000 warrants issued with the debt was determined to be $38,205 and it was recognized as a discount to the debt. The fair value of the conversion options in the note was determined to be $274,190 of which $41,795 was recognized as an additional discount to the debt and $232,396 was recognized as a loss on derivatives. The fair value of the convertible feature was determined based on a fair value of $146,269 and $127,921 assigned to the warrant and common stock conversion options, respectively. The total debt discount of $80,000 is being amortized on a straight-line basis over the term of the note. During the three months ended March 31, 2016, the full principal balances of certain notes totaling $30,000 were converted pursuant to the terms of the notes into 61,578 shares of the Company’s common stock and 61,578 warrants to purchase common stock. Of the 61,578 shares of common stock issued, 1,578 shares related to the payment of interest of $790. Upon conversion, the Company wrote-off the fair value of the derivative liability associated with the converted notes of $139,913 to additional paid-in capital. For the remaining outstanding convertibles notes as of March 31, 2016, the fair value of the derivative liability conversion options was $4,619,063 as of March 31, 2016. Aggregate amortization of the discounts on the convertible notes for the three months ended March 31, 2016 and 2015 was $191,598 and $74,013, respectively. As of March 31, 2016 and December 31, 2015, the aggregate outstanding balance of convertible notes payable was $1,196,704 and $1,051,545, respectively, net of unamortized discounts of $362,417 and $457,576. Derivative Liabilities - Convertible Notes Convertible note borrowings during the three months ended March 31, 2016 resulted in derivative liabilities recognized of $8,403,344 for which $2,041,795 was recognized as a discount to the debt and $6,361,549 was recognized as a loss on derivative. Due to conversion of the convertible debt to common stock during the period, the fair value of the derivative liabilities associated with the converted notes of $8,263,022 was reclassified to additional paid-in-capital. The Company recorded the change in fair value of the conversion option derivative liabilities recognizing a gain of $3,666,419 for the three months ended March 31, 2016. As of March 31, 2016, the fair value of the outstanding convertible note derivatives was determined to be $4,619,063. The valuation of the derivative liabilities attached to the convertible debt was arrived at through the use of Black-Scholes Option Pricing Model and the following assumptions: Three Months Ended March 31, 2016 2015 Volatility 113.46% - 218.75% - Risk-free interest rate 0.10% - 2.07% - Expected term 0.25 – 5 years - Accounts Payable - Related Party As of March 31, 2016 and December 31, 2015, there is $0 and $62,469, respectively, due to a related party, the Company’s Chief Financial Officer, which is non interest bearing due on demand.

Equity

Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
EQUITY	3. EQUITY Common Stock On February 23, 2016, the Company issued 145,878 common shares and warrants to purchase 426,741 common shares of the Company’s common stock in exchange for proceeds of $67,536. The cash was received prior to December 31, 2015 and was recorded as an accrued liability at December 31, 2015. The Company determined a fair value for the shares and warrants to be $537,175. This transaction resulted in a loss on extinguishment of liability of $469,639. During the three months ended March 31, 2016, the Company issued 372,263 common shares and warrants to purchase 1,140,662 common shares of the Company’s common stock in exchange for proceeds of $172,342, $40,062 of which was received subsequent to the end of the quarter. Stock Options A summary of stock option activity during the three months ended March 31, 2016 is as follows: Weighted Weighted Average Average Remaining Number of Exercise Contractual Shares Price Life (years) Outstanding at December 31, 2015 50,000 $ 0.50 10.0 Granted - Exercised - Forfeited - Outstanding at March 31, 2016 50,000 0.50 9.7 Exercisable at March 31, 2016 4,000 $ 0.50 9.7 Stock option awards are expensed on a straight-line basis over the requisite service period. During the three months ended March 31, 2016 and 2015, the Company recognized expense of $4,163 and $0, respectively, associated with stock option awards. At March 31, 2016, future stock compensation expense (net of estimated forfeitures) not yet recognized was $64,775 and will be recognized over a weighted average remaining vesting period of 3.9 years. The intrinsic value of the Company’s stock options outstanding was $20,000 at March 31, 2016. Warrants The following summarizes the warrant activity for the three months ended March 31, 2016: Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Shares Price (in years) Value Outstanding as of December 31, 2015 40,026,431 $ 1.83 4.6 $ 54,932,218 Granted 10,789,763 - Expired (75,000 ) - Exercised - - Outstanding as of March 31, 2016 50,741,194 $ 0.91 5.4 $ 45,667,075 Exercisable as of March 31, 2016 48,416,194 $ 0.93 5.4 $ 45,667,075 Derivative Liabilities - Warrants The anti-dilution features in the freestanding warrants issued in the three months ended March 31, 2016 cause the instruments to no longer be indexed to the Company’s own stock and requires that they be accounted for as derivative liabilities based on guidance in FASB ASC 815, Derivatives and Hedging. The valuation of the derivative liability of the warrants was determined through the use of a Black Scholes options model, which the Company believes approximates fair value. Using this model, the Company had a balance of $12,796,146 at December 31, 2015. The Company recorded the change in the fair value of the warrant liabilities recognizing a gain of $5,820,714 for the three months ended March 31, 2016, to reflect the value of the warrant derivative liability of $6,975,432 as of March 31, 2016. On November 4, 2015, the Company entered into an amendment to the Independent Contractor Agreement (the “Amendment”) with a service provider pursuant to which the service provider is to be issued warrants to purchase 2,400,000 shares of the Company’s common stock at $1.00 per share (the “Warrant Shares”). 1,200,000 of the Warrant Shares vested on November 4, 2015, an additional 600,000 Warrant Shares will vest on the first anniversary date of the Amendment, an additional 600,000 warrant shares will vest on the second anniversary date of the Amendment. The fair value of the first 1,200,000 warrants shares was determined to be $1,115,964 using the Black-Scholes option pricing model and was recognized as expense during the year ended December 31, 2015. The fair value of the two tranches of 600,000 warrant shares was determined to total $1,050,679 as of March 31, 2016 using the Black-Scholes option pricing model of which $110,285 was recognized as expense during the three months ended March 31, 2016. The warrants were valued using the Black-Scholes pricing model with the following assumptions: Three Months Ended March 31, 2016 2015 Volatility 129-.70 % - 142.97% 108.72% Risk-free interest rate 0.87% - 1.78% 0.73% Expected term 3 - 10 years 3.25 - 5 years

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	4. COMMITMENTS AND CONTINGENCIES Lease Commitments In November 2013, the Company entered into a 60-month lease agreement for its corporation facility in Arizona. Total rent expense for the three months ended March 31, 2016 and 2015 was $21,832 and $24,157, respectively. Future minimum lease payments are as follows: 2016 $ 61,540 2017 84,233 2018 71,797 2019 - 2020 - Thereafter - Total $ 217,570 Concentrations All of the Company’s revenue and accounts receivable are currently earned from one customer. Legal Matters On March 18, 2015, the Company received correspondence from the counsel of Mr. John Kuhns, the Company’s former Co-CEO and Executive Chairman alleging that Mr. Kuhns has “Good Reason” to terminate his Employment Agreement for an alleged failure to pay his salary in full. On March 30, 2015, Mr. Kuhns advised that if the alleged breaches of the Employment Agreement were not cured there was a possibility that he would pursue litigation. As of March 30, 2015, shareholders holding approximately 67.26% of the total shares of common stock of NanoFlex Power Corporation (the “Company,” “we,” “our” or “us”) that are entitled to vote on all Company matters approved by written consent the removal of John D. Kuhns from his position as a member of the Company’s Board of Directors. Mr. Kuhns’ removal was for “Cause” as defined under his Employment Agreement as amended and dated as of October 1, 2013 (the “Employment Agreement”). The removal arose as a result of his documented conduct and statements, which breached his fiduciary duties to the Company in order to advance personal monetary and other interests, and thereby threatened serious financial injury to the Company, its shareholders and its debtholders. On March 31, 2015, the Board of Directors terminated the Employment Agreement with Mr. Kuhns for Cause and removed him from his positions as Co-CEO, and from all other officer positions he held with the Company and its subsidiaries and affiliates, and all director positions with the Company’s subsidiaries and affiliates. On April 24, 2015, the Company received a letter from Mr. Kuhns’ counsel (the “Response Letter”) stating that Mr. Kuhns disagreed with statements in the Initial Filing regarding the circumstances of his removal as a director and officer. The Response Letter was accompanied by a copy of a complaint (the “Complaint”) filed by John D, Kuhns (the “Plaintiff”) in the United States District Court Southern District of New York against the Company, Mr. Dean L. Ledger, our current CEO and member of our Board of Directors, Mr. Robert J. Fasnacht, our former Executive Vice President and former member of our Board of Directors and Mr. Ronald B. Foster, a shareholder of the Company (each, a “Defendant,” collectively, the “Defendants”). The Complaint alleges, among other things, that the Plaintiff was terminated by the Company in violation of Section 922 of the Dodd-Frank Act, that the Company wrongfully terminated the Employment Agreement, that the Defendants made false statements to shareholders regarding the Plaintiff, that the Defendants (other than the Company) tortuously interfered with the Plaintiff’s Employment Agreement, and that Mr. Ledger and Mr. Fasnacht breached their fiduciary duties to the Company and its shareholders. The Plaintiff seeks monetary damages, including (i) two (2) times of the alleged owed compensation to him, together with interest as well as litigation costs, expert witness fees and reasonable attorneys’ fees; (ii) damages for the alleged breach of the Employment Agreement by the Company, estimated to be at least $2 million, plus interest and attorney’s fees; (iii) an unspecified amount for his alleged libel claim; and (iv) damages for the alleged tortious interference with contract, including punitive damages of at least $2 million. The Plaintiff is also seeking a declaratory judgment, claiming that he was not terminated as a director and should continue to hold a seat on the Company’s Board of Directors. On September 3, 2015 the Company filed a Motion to Dismiss portions of the Complaint in the United States District Court Southern District of New York. The motion to Dismiss is currently still pending and the Company believes that the allegations in the Complaint to be without any merit and will vigorously defend against the claims.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	5. SUBSEQUENT EVENTS On April 18, 2016 the Company issued a convertible promissory note to an investors in the amount of $75,000 together with a warrant to purchase 75,000 shares of the Company’s Common Stock, with a 5 year term and $,50 exercise price. On April 28, 2016, the investor converted this note and upon conversion was issued 162,000 shares of the Company’s Common Stock and a warrant to purchase 162,000 shares of the Company’s Common Stock, with a 5 year term and $.50 exercise price. On May 6, 2016, the Company issued 100,000 shares of its Common Stock to an investor pursuant to a subscription agreement and amendment thereto. On May 9, 2016, an investor converted a promissory note issued to him by the Company on September 11, 2015, and upon conversion was issued 27,000 shares of the Company’s Common Stock and a warrant to purchase 27,000 shares of the Company’s Common Stock, with a 5 year term and $.50 exercise price.

Background Basis of Presentat11

Background Basis of Presentation, and Going Concern (Tables)	3 Months Ended
	Mar. 31, 2016
Background, Basis of Presentation, and Going Concern [Abstract]
Schedule of financial statements error corrections	Three Months Ended March 31, 2015 As Reported Revision As Revised Gain (loss) on change in fair value of derivative $ - $ 2,455,482 $ 2,455,482 Total other expense (94,622 ) (2,455,482 ) 2,360,860 Loss before income tax benefit (1,460,567 ) (2,455,482 ) 994,915 Net (loss) income (1,460,567 ) (2,455,482 ) 994,915 Net loss per share (basic and diluted) (0.03 ) (0.05 ) 0.02 Three Months Ended March 31, 2015 As Reported Revision As Revised Cash flows from operating activities: Net loss $ (1,460,567 ) $ 2,455,482 $ 994,915 Adjustments to reconcile net loss to net cash used in operating activities: (Gain) loss on change in fair value of derivative - (2,455,482 ) (2,455,482 ) NON-CASH INVESTING AND FINANCING ACTIVITIES Reclassification of warrants as derivative liabilities - 76,369 76,369
Schedule of the valuation of financial instruments at fair value in the balance sheets	Fair Value Measurements as of Level 1 Level 2 Level 3 Assets None $ $ $ Total assets - - - Liabilities Warrant derivative liability - - 6,975,432 Conversion option derivative liability - - 4,619,063 Total liabilities - - 11,594,495 Fair Value Measurements as of Level 1 Level 2 Level 3 Assets None $ $ $ Total assets - - - Liabilities Warrant derivative liability - - 12,796,146 Conversion option derivative liability - - 8,145,160 Total liabilities - - 20,941,306
Schedule of reconciliation of changes in the fair value of financial assets and liabilities	Significant Unobservable Inputs (Level 3) Three Months Ended March 31, 2016 2015 Beginning balance 20,941,306 847,791 Change in fair value (9,487,133 ) 2,455,482 Additions reclassified from equity - - Additions recognized as debt discounts 2,041,795 76,369 Additions recognized as derivative expense 6,361,549 - Resolution of derivative liabilities (8,263,022 ) - Ending balance 11,594,495 3,379,642

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Schedule of valuation of stock option assumptions	Three Months Ended March 31, 2016 2015 Volatility 113.46% - 218.75% - Risk-free interest rate 0.10% - 2.07% - Expected term 0.25 – 5 years -

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of warrants assumptions used	Three Months Ended March 31, 2016 2015 Volatility 129-.70 % - 142.97% 108.72% Risk-free interest rate 0.87% - 1.78% 0.73% Expected term 3 - 10 years 3.25 - 5 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock option / warrant activity	Weighted Weighted Average Average Remaining Number of Exercise Contractual Shares Price Life (years) Outstanding at December 31, 2015 50,000 $ 0.50 10.0 Granted - Exercised - Forfeited - Outstanding at March 31, 2016 50,000 0.50 9.7 Exercisable at March 31, 2016 4,000 $ 0.50 9.7
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock option / warrant activity	Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Shares Price (in years) Value Outstanding as of December 31, 2015 40,026,431 $ 1.83 4.6 $ 54,932,218 Granted 10,789,763 - Expired (75,000 ) - Exercised - - Outstanding as of March 31, 2016 50,741,194 $ 0.91 5.4 $ 45,667,075 Exercisable as of March 31, 2016 48,416,194 $ 0.93 5.4 $ 45,667,075

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies [Abstract]
Schedule of future minimum lease payments	2016 $ 61,540 2017 84,233 2018 71,797 2019 - 2020 - Thereafter - Total $ 217,570

Background Basis of Presentat15

Background Basis of Presentation, and Going Concern (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statements of Operations [Abstract]
Gain (loss) on change in fair value of derivative	$ 3,125,584	$ (2,455,482)
Total other expense	(3,046,706)	(2,550,104)
Loss before income tax benefit	(4,506,426)	(3,916,049)
Net (loss) income	$ (4,506,426)	$ (3,916,049)
Net loss per share (basic and diluted)	$ (0.08)	$ (0.09)
As Reported (Member)
Statements of Operations [Abstract]
Gain (loss) on change in fair value of derivative
Total other expense		$ (94,622)
Loss before income tax benefit		(1,460,567)
Net (loss) income		$ (1,460,567)
Net loss per share (basic and diluted)		$ (0.03)
Revision [Member]
Statements of Operations [Abstract]
Gain (loss) on change in fair value of derivative		$ 2,455,482
Total other expense		(2,455,482)
Loss before income tax benefit		(2,455,482)
Net (loss) income		$ (2,455,482)
Net loss per share (basic and diluted)		$ (0.05)

Background Basis of Presentat16

Background Basis of Presentation, and Going Concern (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net income (loss)	$ (4,506,426)	$ (3,916,049)
Adjustments to reconcile net loss to net cash used in operating activities:
(Gain) loss on change in fair value of derivative liabilities	$ (3,125,584)	2,455,482
NON-CASH INVESTING AND FINANCING ACTIVITIES
Reclassification of warrants as derivative liabilities		76,368
As Reported (Member)
Cash flows from operating activities:
Net income (loss)		$ (1,460,567)
Adjustments to reconcile net loss to net cash used in operating activities:
(Gain) loss on change in fair value of derivative liabilities
NON-CASH INVESTING AND FINANCING ACTIVITIES
Reclassification of warrants as derivative liabilities
Revision [Member]
Cash flows from operating activities:
Net income (loss)		$ (2,455,482)
Adjustments to reconcile net loss to net cash used in operating activities:
(Gain) loss on change in fair value of derivative liabilities		(2,455,482)
NON-CASH INVESTING AND FINANCING ACTIVITIES
Reclassification of warrants as derivative liabilities		$ 76,369

Background Basis of Presentat17

Background Basis of Presentation, and Going Concern (Details 2) - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Liabilities
Warrant derivative liability	$ 6,975,432	$ 12,796,146
Conversion option derivative liability	$ 4,619,063	$ 8,145,160
Fair Value, Inputs, Level 1 [Member]
Assets
None
Total assets
Liabilities
Warrant derivative liability
Conversion option derivative liability
Total liabilities
Fair Value, Inputs, Level 2 [Member]
Assets
None
Total assets
Liabilities
Warrant derivative liability
Conversion option derivative liability
Total liabilities
Fair Value, Inputs, Level 3 [Member]
Assets
None
Total assets
Liabilities
Warrant derivative liability	$ 6,975,432	$ 12,796,146
Conversion option derivative liability	4,619,063	8,145,160
Total liabilities	$ 11,594,495	$ 20,941,306

Background Basis of Presentat18

Background Basis of Presentation, and Going Concern (Details 3) - Fair Value, Inputs, Level 3 [Member] - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 20,941,306	$ 847,791
Change in fair value	$ (9,487,133)	$ 2,455,482
Additions reclassified from equity
Additions recognized as debt discounts	$ 2,041,795	$ 76,369
Additions recognized as derivative expense	6,361,549
Resolution of derivative liabilities	(8,263,022)
Ending balance	$ 11,594,495	$ 3,379,642

Background Basis of Presentat19

Background Basis of Presentation, and Going Concern (Details Textual) - USD ($)	Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Sep. 24, 2013
Background Basis of Presentation (Textual)
Equity interests, ownership percentage			67.26%	100.00%
Working capital deficit	$ 17,696,657
Accumulated deficit	$ (209,495,781)	$ (204,989,355)

Debt (Details)

Debt (Details) - Stock Option [Member]	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Option Indexed to Issuer's Equity [Line Items]
Volatility
Risk-free interest rate
Minimum [Member]
Option Indexed to Issuer's Equity [Line Items]
Volatility	113.46%
Risk-free interest rate	0.10%
Expected term	3 months
Maximum [Member]
Option Indexed to Issuer's Equity [Line Items]
Volatility	218.75%
Risk-free interest rate	2.07%
Expected term	5 years

Debt (Details Textual)

Debt (Details Textual) - USD ($)	Mar. 07, 2016	Jan. 06, 2016	Feb. 26, 2014	Jan. 25, 2016	Jan. 22, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015	Sep. 01, 2015
Debt (Textual)
Outstanding debt						$ 150,000		$ 150,000
Fair value of warrants issued						2,041,795
Amortization of debt discounts						2,349,107	$ 74,013
Outstanding balance of non convertible notes payable						150,000		150,000
Outstanding balance of notes payable						$ 100,000
Debt discount	$ 80,000
Exercise price of warrants						$ 0.50
Loss on extinguishment of debt						$ (3,632,942)
Fair value of the convertible feature						$ 1,034,383	$ 225,426
Advances to related parties								670,848
Proceeds from convertible notes						$ 80,000	700,000
Common stock issued, shares						714,597
Chief Executive Officer [Member]
Debt (Textual)
Accounts payable related parties						$ 0		62,469
Warrant [Member]
Debt (Textual)
Exercise price of warrants									$ 1
Promissory note [Member]
Debt (Textual)
Minimum interest rate						0.50%
Promissory notes issued								$ 50,000
Term of note								120 days
Warrants issued for conversion of notes								100,000
Strike price								$ 0.5
Outstanding debt						$ 50,000
Fair value of warrants issued						45,243
Amortization of debt discounts						45,243
Outstanding balance of notes payable						150,000		$ 150,000
Notes Payable - Related Party [Member]
Debt (Textual)
Minimum interest rate			4.00%
Promissory notes issued		$ 1,375,000						$ 625,000
Warrants issued for conversion of notes								1,250,000
Strike price								$ 0.50
Outstanding debt			$ 150,000
Description of debt instrrument			Under the terms of this agreement, the note was to be repaid within 6 months of funding.
Maturity date			Feb. 26, 2016
Accrued interest			$ 509
Debt discount		$ 996,178
Warrants issued to purchase common stock		2,750,000
Exercise price of warrants		$ 0.50
Unamortized discount						0		$ 104,152
Notes payable to related parties						0		$ 670,848
Notes Payable - Related Party [Member] | Minimum [Member]
Debt (Textual)
Term of note								120 days
Notes Payable - Related Party [Member] | Maximum [Member]
Debt (Textual)
Term of note								150 days
Notes Payable - Related Party [Member] | Note Conversion Agreement [Member]
Debt (Textual)
Minimum interest rate					8.00%
Warrants issued for conversion of notes				4,320,000
Fair value of warrants issued					$ 2,000,000
Warrants issued to purchase common stock				4,320,000
Exercise price of warrants				$ 0.50
Loss on extinguishment of debt					3,163,303
Unamortized discount					926,382
Additional paid in capital written off				$ 8,123,109	2,236,921
Issuance of private placement					2,000,000
Principal amount of debt					$ 2,000,000
Term of warrant				10 years
Conversion of debt instrument, Value				$ 160,000
Conversion of debt instrument, Shares				320,000
Advances Related Party [Member] | Chief Executive Officer [Member]
Debt (Textual)
Advances received						310,000	51,850
Repaid advances						120,000	265,000
Advances to related parties						300,000		$ 110,000
Convertible Notes Payable [Member]
Debt (Textual)
Minimum interest rate	8.00%
Warrants issued for conversion of notes	80,000
Amortization of debt discounts						$ 191,598	$ 74,013
Debt discount	$ 38,205
Warrants issued to purchase common stock						61,578
Exercise price of warrants	$ 0.50
Unamortized discount						$ 362,417		457,576
Additional paid in capital written off						139,913
Term of warrant	5 years
Fair value of the conversion options	$ 274,190
Additional discount to debt	41,795
Loss on derivatives	232,396
Conversion of debt instrument, Value						$ 30,000
Conversion of debt instrument, Shares						61,578
Notes payable to related parties						$ 2,000,000
Proceeds from convertible notes	80,000
Aggregate outstanding balance of convertible notes payable	$ 80,000					1,196,704		$ 1,051,545
Conversion of units, shares	160,000
Maturity date, description	One year
Common stock issued, value						$ 790
Common stock issued, shares						1,578
Fair value of the derivative liability						$ 4,619,063
Fair value of warrants issued with debt	80,000
Convertible Notes Payable [Member] | Warrant [Member]
Debt (Textual)
Fair value of the convertible feature	$ 146,269
Convertible Notes Payable [Member] | Employee Stock Option [Member]
Debt (Textual)
Fair value of the convertible feature	$ 127,921
Convertible Debt [Member]
Debt (Textual)
Debt discount						2,041,795
Convertible note						4,619,063
Fair value of the conversion options						3,666,419
Loss on derivatives						6,361,549
Fair value of the derivative liability						8,263,022
Derivative liabilities						$ 8,403,344

Equity (Details)

Equity (Details) - Stock Options [Member] - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Number of Shares
Number of Shares, Outstanding	50,000
Number of Shares, Granted
Number of Shares, Exercised
Number of Shares, Forfeited
Number of Shares, Outstanding	50,000	50,000
Number of Shares, Exercisable	4,000
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding	$ 0.50
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Forfeited
Weighted Average Exercise Price, Outstanding	$ 0.50	$ 0.50
Weighted Average Exercise Price, Exercisable	$ 0.50
Weighted Average Remaining Contractual Life (years)
Weighted Average Remaining Contractual Life (years), Outstanding	9 years 8 months 12 days	10 years
Weighted Average Remaining Contractual Life (years), Exercisable	9 years 8 months 12 days

Equity (Details 1)

Equity (Details 1) - Warrants [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Number of Shares
Number of Shares, Outstanding	40,026,431
Number of Shares, Granted	10,789,763
Number of Shares, Expired	(75,000)
Number of Shares, Exercised
Number of Shares, Outstanding	50,741,194	40,026,431
Number of Shares, Exercisable	48,416,194
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding	$ 1.83
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Forfeited
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Outstanding	$ 0.91	$ 1.83
Weighted Average Exercise Price, Exercisable	$ 0.93
Weighted Average Remaining Contractual Life (years)
Weighted Average Remaining Contractual Life (years), Outstanding	5 years 4 months 24 days	4 years 7 months 6 days
Weighted Average Remaining Contractual Life (years), Exercisable	5 years 4 months 24 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding	$ 54,932,218
Aggregate Intrinsic Value, Outstanding	45,667,075	$ 54,932,218
Aggregate Intrinsic Value, Exercisable	$ 45,667,075

Equity (Details 2)

Equity (Details 2) - Warrant [Member]	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility		108.72%
Risk-free interest rate		0.73%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	129.70%
Risk-free interest rate	0.87%
Expected term	3 years	3 years 3 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	142.97%
Risk-free interest rate	1.78%
Expected term	10 years	5 years

Equity (Details Textual)

Equity (Details Textual) - USD ($)	Nov. 04, 2015	Sep. 01, 2015	Apr. 30, 2016	Feb. 23, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Equity (Textual)
Fair value of derivative liability of warrants							$ 12,796,146
Fair value of warrants issued					$ 2,041,795
Gain (loss) on change in fair value of derivative					3,125,584	$ (2,455,482)
Derivative liability					$ 6,975,432		12,796,146
Exercise price of warrants					$ 0.50
loss on extinguishment of liability					$ (3,632,942)
Subsequent Event [Member]
Equity (Textual)
Proceeds from exchange of common stock			$ 40,062
Common Stock [Member]
Equity (Textual)
Shares issued				145,878	372,263
Warrants to purchase common stock				426,741	1,140,662
Proceeds from exchange of common stock				$ 67,536	$ 172,342
Fair value of shares and warrants					537,175
loss on extinguishment of liability					469,639
Stock Options [Member]
Equity (Textual)
Stock option awards expenses					4,163	$ 0
Future stock compensation expense					$ 64,775
Weighted avarage remaining vesting period					3 years 10 months 24 days
Stock option outstanding intrinsic value					$ 20,000
Warrants [Member]
Equity (Textual)
Stock option outstanding intrinsic value					45,667,075		54,932,218
Fair value of warrants issued					1,050,679		$ 1,115,964
Gain (loss) on change in fair value of derivative					5,820,714
Warrants to purchase common stock	2,400,000
Number of warrant shares vested	1,200,000
Warrant expense					$ 324,851
Common stock price per share	$ 1
Determination of fair value	The fair value of the first 1,200,000 warrants shares was determined to be $1,115,964 using the Black-Scholes option pricing model and was recognized as expense during the year ended December 31, 2015.
Number of warrants fair value					600,000		1,200,000
Recognize Black-Scholes option pricing model expenses					$ 110,285
Warrants [Member] | First Anniversary [Member]
Equity (Textual)
Number of warrant shares vested	600,000
Warrants [Member] | Second Anniversary [Member]
Equity (Textual)
Number of warrant shares vested	600,000
Warrants [Member] | Mr.Tobin [Member]
Equity (Textual)
Fair value of warrants issued		$ 2,835,061
Warrants to purchase common stock		1,500,000
Exercise price of warrants		$ 1
Number of warrant shares vested		375,000
Warrants [Member] | Mr.Tobin [Member] | First Anniversary [Member]
Equity (Textual)
Number of warrant shares vested		375,000
Warrants [Member] | Mr.Tobin [Member] | Second Anniversary [Member]
Equity (Textual)
Number of warrant shares vested		375,000
Warrants [Member] | Mr.Tobin [Member] | Third Anniversary [Member]
Equity (Textual)
Number of warrant shares vested		375,000

Commitments and Contingencies26

Commitments and Contingencies (Details)	Mar. 31, 2016USD ($)
Schedule of future minimum lease payments
2,016	$ 61,540
2,017	84,233
2,018	$ 71,797
2,019
2,020
Thereafter
Total	$ 217,570

Commitments and Contingencies27

Commitments and Contingencies (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Apr. 24, 2015	Mar. 31, 2016	Mar. 31, 2015	Sep. 24, 2013
Commitments and Contingencies (Textual)
Rent expense		$ 21,832	$ 24,157
Percentage of the total shares of common stock			67.26%	100.00%
Description of Plaintiff compensation	The Plaintiff seeks monetary damages, including (i) two (2) times of the alleged owed compensation to him, together with interest as well as litigation costs, expert witness fees and reasonable attorneys' fees; (ii) damages for the alleged breach of the Employment Agreement by the Company, estimated to be at least $2 million, plus interest and attorney's fees; (iii) an unspecified amount for his alleged libel claim; and (iv) damages for the alleged tortious interference with contract, including punitive damages of at least $2 million. The Plaintiff is also seeking a declaratory judgment, claiming that he was not terminated as a director and should continue to hold a seat on the Company's Board of Directors.
Term of lease agreement		60 months

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	May. 09, 2016	May. 06, 2016	Apr. 28, 2016	Apr. 18, 2016	Mar. 31, 2016	Apr. 20, 2016
Subsequent Events (Textual)
Warrants to purchase common stock					1,508,117
Term of warrants					5 years
Exercise price of warrants					$ 0.50
Common stock issued, shares					714,597
Common stock in exchange for proceeds					$ 529,213
Subsequent Event [Member] | Investor [Member]
Subsequent Events (Textual)
Convertible promissory note issued			$ 162,000	$ 75,000
Common stock issued upon debt conversion	27,000
Warrants to purchase common stock	27,000		162,000	75,000
Term of warrants	5 years		5 years	5 years
Exercise price of warrants	$ 0.50		$ 0.50	$ 0.50
Common stock issued, shares		100,000
Subsequent Event [Member] | Subscription Agreement [Member]
Subsequent Events (Textual)
Exercise price of warrants						$ 0.50