NanoFlex Power (OPVS) 10-Q 15 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 11, 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	Jun. 30, 2016
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		58,823,514

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 388,685	$ 6,255
Accounts receivable	30,398	95,623
Prepaid expenses and other current assets	12,305	854
Total current assets	431,388	102,732
Property and equipment, net	10,304	13,735
Total assets	441,692	116,467
Current liabilities:
Accounts payable	3,145,318	3,341,905
Accounts payable- related party		62,469
Accrued expenses	1,507,480	1,840,537
Warrant derivative liability	6,683,299	12,796,146
Conversion option derivative liability	2,623,917	5,411,187
Short-term debt, net of unamortized discounts	100,000	150,000
Short-term debt- related party, net of unamortized discounts		670,848
Convertible debt, net of unamortized discounts	1,354,522	1,123,818
Advances - related party	500,000	110,000
Total current liabilities	15,914,536	25,506,910
Total liabilities	15,914,536	25,506,910
Stockholders' deficit:
Common stock, 250,000,000 authorized, $0.0001 par value, 58,070,018 and 51,473,157 issued and outstanding as of June 30, 2016 and December 31, 2015, respectively	5,808	5,148
Additional paid-in capital	186,484,983	176,108,887
Accumulated deficit	(201,963,635)	(201,504,478)
Total stockholders' deficit	(15,472,844)	(25,390,443)
Total liabilities and stockholders' deficit	$ 441,692	$ 116,467

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [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	58,070,018	51,473,157
Common stock, shares, outstanding	58,070,018	51,473,157

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Statements of Operations [Abstract]
Revenue	$ 30,400		$ 30,400
Cost of services	(80,405)		(233,881)
Gross loss	(50,005)		(203,481)
Operating expenses:
Research and development	908,821	275,040	1,176,348	500,749
Patent application and prosecution fees	188,025	616,024	537,766	1,169,014
Selling, general and administrative expenses	660,847	729,316	1,349,822	1,347,933
Total operating expenses	1,757,693	1,620,380	3,063,936	3,017,696
Loss from operations	(1,807,698)	(1,620,380)	(3,267,417)	(3,017,696)
Other income (expenses):
Gain (loss) on change in fair value of derivative	1,185,582	14,561	9,444,559	(2,440,922)
Loss on extinguishment of debt	(124,044)	(150,000)	(3,756,985)	(150,000)
Interest expense	(360,028)	(443,377)	(2,879,314)	(537,999)
Total other income (expense)	701,510	(578,816)	2,808,260	(3,128,921)
Net loss	$ (1,106,188)	$ (2,199,196)	$ (459,157)	$ (6,146,617)
Net loss per common share:
Basic and diluted	$ (0.02)	$ (0.05)	$ (0.01)	$ (0.14)
Weighted average common shares outstanding:
Basic and diluted	57,491,671	45,976,649	56,158,268	45,372,975

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (459,157)	$ (6,146,617)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	3,431	2,633
Warrants issued as compensation	917,110	230,971
Options issued as compensation	8,326
Interest expense of warrants related to conversion of debt	959,249	246,460
Amortization of debt discounts	1,670,163	251,250
Loss on extinguishment of debt	3,756,985	150,000
Derivative warrant issued for services	544,442
(Gain) loss on change in fair value of derivative liabilities	(9,444,559)	2,440,922
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(11,451)	(4,832)
Accounts receivable	65,225
Accounts payable	(196,587)	1,126,440
Accounts payable - related party	(62,469)	3,885
Accrued expenses	(83,359)	(302,893)
Net cash used in operating activities	(2,332,651)	(2,001,781)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common shares and warrants	638,793	86,000
Proceeds from exercise of warrants	6,288	914,218
Borrowings on related party debt	1,375,000
Payments on related party debt	(150,000)
Borrowings on convertible debt	455,000	1,230,000
Advances received from related party	510,000	138,350
Advances repaid to related party	(120,000)	(360,500)
Net cash provided by financing activities	2,715,081	2,008,068
NET INCREASE IN CASH	382,430	6,287
Cash, beginning of the period	6,255	168
Cash, end of the period	388,685	6,455
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	509
Cash paid for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES
Principal and interest converted into common stock	2,479,306
Common stock and warrants issued for debt		700,000
Debt discount on beneficial conversion feature and warrants issued with debt	1,473,366	424,428
Warrants issued with debt modification	996,178
Reclassification of warrants as derivative liabilities		76,368
Note modified to be convertible note and then converted	2,050,000
Accrued interest converted to debt		50,000
Issuance of common stock related to PIPE II anti-dilution provision		$ 155

Background, Basis of Presentati

Background, Basis of Presentation, and Going Concern	6 Months Ended
	Jun. 30, 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. We believe these technologies have been demonstrated in a laboratory environment with our research partners. The Company is currently taking steps to pursue product development and commercialization on some of these technologies in collaboration with industry partners and potential customers. Basis of Presentation The accompanying unaudited interim consolidated 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 and six months ended June 30, 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, 2016, the Company identified errors in its financial statements for the third and fourth quarters of the fiscal year ended December 31, 2015, and first quarter of the fiscal year ended March 31, 2016, as included in the Company’s 10-Q for the period ended September 30, 2015 and March 31, 2016, and its 2015 annual report on Form 10-K, related to the accounting for conversion option derivative liabilities. Specifically, the Company accounted for all of its convertible debt instruments assuming that each contained an embedded conversion feature that met the criteria for bifurcation when, in fact, several of the outstanding notes contained embedded conversion features that did not require bifurcation. 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. 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 balance sheet for the year ended June 30, 2016: As of December 31, 2015 As Reported Revision As Revised Conversion option derivative liability $ 8,145,160 $ (2,733,973 ) $ 5,411,187 Convertible debt, net of unamortized discounts 1,051,545 72,273 1,123,818 Total current liabilities 28,168,610 (2,661,700 ) 25,506,910 Total liabilities 28,168,610 (2,661,700 ) 25,506,910 Accumulated deficit (204,989,355 ) 3,484,877 (201,504,478 ) Additional paid in capital 176,932,064 (823,177 ) 176,108,887 Total stockholders' deficit (28,052,143 ) 2,661,700 (25,390,443 ) Going Concern 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 June 30, 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 June 30, 2016 and December 31, 2015: Fair Value Measurements as of Level 1 Level 2 Level 3 Assets None $ $ $ Total assets - - - Liabilities Warrant derivative liability - - 6,683,299 Conversion option derivative liability - - 2,623,917 Total liabilities - - 9,307,216 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 - - 5,411,187 Total liabilities - - 18,207,333 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 Significant Unobservable Inputs Inputs (Level 3) (Level 3) Three Months Ended Six Months Ended 2016 2015 2016 2015 Beginning balance $ 9,948,356 $ 3,379,642 $ 18,207,333 $ 847,791 Change in fair value (1,185,582 ) (14,561 ) (9,444,559 ) 2,440,922 Additions reclassified from equity - - - 76,368 Additions recognized as compensation expense 544,442 230,971 544,442 230,971 Ending balance $ 9,307,216 $ 3,596,052 $ 9,307,216 $ 3,596,052

Debt

Debt	6 Months Ended
	Jun. 30, 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 June 30, 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. On May 12, 2016, this note was forgiven in exchange for a new convertible note that bears interest of 8% per annum, a maturity date of one year and is convertible into units at $0.50 per unit, 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. This modification qualifies as an extinguishment of debt. The fair value of 50,000 warrants issued in connection with the modification which have a term of 5 years and are exercisable at $0.50 per share resulted in a loss on extinguishment of debt of $44,044. The modified note also gave rise to a beneficial conversion feature of $37,584 which is recognized as additional paid in capital and a corresponding debt discount. All debt discounts are being recognized on a straight-line basis over the term of the note. The note also contains an additional warrant expense of $12,415 associated with the warrants that are to be issued upon conversion, which is to be recognized only upon conversion. As of June 30, 2016 and December 31, 2015, the aggregate outstanding balance of non-convertible notes payable was $100,000 and $150,000, respectively. 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. Additionally, the Company recognized a beneficial conversion feature of $1,100,735 in accordance with the provisions of ASC 470-20 “ Debt – Debt with Conversion and Other Options” 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 accelerated the recognition of all remaining debt discount and also recognized an additional interest expense of $899,265 associated with the warrants that were issued upon conversion. This contingent beneficial conversion feature was immediately recognized as interest expense with an offset to additional paid-in-capital. Aggregate amortization of the discounts on the notes payable for the six months ended June 30, 2016 and 2015 was $163,714 and $113,253, respectively. As of June 30, 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 and six months ended June 30, 2016, the Company received advances from its Chief Executive Officer totaling $200,000 and $510,000 and repaid advances totaling $0 and $120,000. As of June 30, 2016 and December 31, 2015, the aggregate outstanding balance of advances to related parties was $500,000 and $110,000, respectively. Convertible Notes Payable From April 18, 2016 through June 30, 2016, the Company received additional aggregate proceeds of $375,000 in exchange for eight convertible notes and the issuance of 375,000 warrants with a five year life and exercise price of $0.50 per share. The convertible notes have an aggregate principal amount of $375,000, interest of 8% per annum, a maturity date of one year and are convertible into an aggregate of 750,000 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 aggregate relative fair value of the 375,000 warrants issued with the debt was determined to be $158,423 and was recognized as a discount to the debt. These notes also gave rise to a beneficial conversion feature of $116,129 which is recognized as additional paid in capital and a corresponding debt discount. All debt discounts are being recognized on a straight-line basis over the term of the note. The note also contains an additional warrant expense of $100,449 associated with the warrants that are to be issued upon conversion, which is to be recognized only upon conversion. During the three months ended March 31, 2016, the full principal balances of certain notes of $30,000 with accrued interest of $790 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. Upon conversion, the Company accelerated the recognition of all remaining debt discount and also recognized interest expense of $3,787 associated with the warrants that were issued upon conversion. This additional warrant expense was immediately recognized as interest expense with an offset to additional paid-in-capital. During the three months ended June 30, 2016, the full principal balances of certain notes totaling $267,144 with accrued interest of $182,162 were converted pursuant to the terms of the notes into 577,031 shares of the Company’s common stock and 577,031 warrants to purchase common stock. Upon conversion, the Company accelerated the recognition of all remaining debt discount and also recognized additional interest expense of $56,197 associated with the warrants that were issued upon exercised. This additional warrant expense was immediately recognized as interest expense with an offset to additional paid-in-capital. For the remaining outstanding convertibles notes as of June 30, 2016, the fair value of the derivative liability conversion options was $2,623,917 as of June 30, 2016. Aggregate amortization of the discounts on the convertible notes for the six months ended June 30, 2016 and 2015 was $1,506,449 and $137,997, respectively. As of June 30, 2016 and December 31, 2015, the aggregate outstanding balance of convertible notes payable was $1,354,522 and $1,123,818, respectively, net of unamortized discounts of $362,455 and $561,728. Derivative Liabilities - Convertible Notes As of June 30, 2016, the fair value of the outstanding convertible note derivatives was determined to be $2,623,917. There were no new convertible note derivatives that arose during the three or six months ended June 30, 2016. Accounts Payable - Related Party As of June 30, 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	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
EQUITY	3. EQUITY Common Stock 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. During the three months ended June 30, 2016, the Company issued 1,007,535 common shares and warrants to purchase 3,031,050 common shares of the Company’s common stock in exchange for proceeds of $466,451. During the three months ended June 30, 2016, the Company issued 12,577 common shares on exercise of warrant at price of $0.50 per share for a total of $6,288. Stock Options A summary of stock option activity during the six months ended June 30, 2016 is as follows: Number of Weighted Weighted Outstanding at December 31, 2015 50,000 $ 0.50 10.0 Granted - Exercised - Forfeited - Outstanding at June 30, 2016 50,000 0.50 9.5 Exercisable at June 30, 2016 7,000 $ 0.50 9.5 Stock option awards are expensed on a straight-line basis over the requisite service period. During the three and six months ended June 30, 2016 the Company recognized expense of $4,164 and $8,326, respectively, associated with stock option awards. During the three and six months ended June 30, 2015 the Company recognized expense of $0 associated with stock option awards. At June 30, 2016, future stock compensation expense (net of estimated forfeitures) not yet recognized was $60,612 and will be recognized over a weighted average remaining vesting period of 3.7 years. The intrinsic value of the Company’s stock options outstanding was $13,495 at June 30, 2016. Warrants On September 1, 2015 the Company entered into an Employment Agreement (the “Employment Agreement”) with Mark Tobin in his capacity as the Company’s Chief Financial Officer. Pursuant to the Employment Agreement, on September 1, 2015 the Company issued Mr. Tobin warrants to purchase 1,500,000 shares of the Company’s common stock at $1.00 per share (the “Warrant Shares”). The fair value of the warrants was determined to be $2,835,061 using the Black-Scholes option pricing model. 375,000 of the Warrant Shares vested on September 1, 2015, an additional 375,000 warrant shares will vest on the first anniversary date of the Employment Agreement, an additional 375,000 warrant shares will vest on the second anniversary date of the Employment Agreement, and, an additional 375,000 warrant shares will vest on the third anniversary date of the Employment Agreement. Warrant expense of $324,851 and $649,703 was recognized during the three and six months ended June 30, 2016. The following summarizes the warrant activity for the six months ended June 30, 2016: Number of Weighted Weighted Aggregate Outstanding as of December 31, 2015 40,026,431 $ 1.83 4.6 $ 54,932,218 Granted 14,886,992 - Expired (97,500 ) - Exercised (12,577 ) - Outstanding as of June 30, 2016 54,803,346 $ 0.88 5.1 $ 42,193,096 Exercisable as of June 30, 2016 52,478,346 $ 0.90 5.1 $ 42,193,096 Derivative Liabilities - Warrants The anti-dilution features in the freestanding warrants issued in the six months ended June 30, 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 $5,568,402 and expense of $544,442 for the six months ended June 30, 2016, to reflect the value of the warrant derivative liability of $6,683,299 as of June 30, 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, and 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 $898,465 as of June 30, 2016 using the Black-Scholes option pricing model of which $120,895 and $231,179 was recognized as expense during the three and six months ended June 30, 2016, respectively. On May 13, 2016, the Company entered into an agreement with a service provider pursuant to which the service provider is to be issued warrants to purchase 1,000,000 shares of the Company’s common stock at $1.00 per share (the “Warrant Shares”). 500,000 of the Warrant Shares vested on May 13, 2016, an additional 250,000 warrant shares will vest on the first anniversary date of the agreement, an additional 250,000 Warrant Shares will vest on the second anniversary date of the agreement. The fair value of the first 500,000 Warrant Shares was determined to be $388,888 using the Black-Scholes option pricing model and was recognized as expense and as derivative liabilities during the quarter ended June 30, 2016. The fair value of the two tranches of 250,000 Warrant Shares was determined to total $374,360 as of June 30, 2016 using the Black-Scholes option pricing model of which $36,228 was recognized as expense during the three and six months ended June 30, 2016. On May 13, 2016, the Company entered into an agreement with a service provider pursuant to which the service provider is to be issued warrants to purchase 200,000 shares of the Company’s common stock at $1.00 per share (the “Warrant Shares”). The Warrant Shares are immediately vested. The fair value of the Warrant Shares was determined to be $155,554 using the Black-Scholes option pricing model and was recognized as expense and as derivative liabilities during the quarter ended June 30, 2016. The warrants were valued using the Black-Scholes pricing model with the following assumptions: Six Months Ended 2016 2015 Volatility 129-.70 % - 180.15% 108.72% - 111.37% Risk-free interest rate 0.65% - 1.78% 0.725% - .87% Expected term 2.5 - 10 years 3.5 - 5 years

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2016
Net Income (Loss) Per Share [Abstract]
NET INCOME (LOSS) PER SHARE	4. NET LOSS PER SHARE Three Months Ended Six Months Ended 2016 2015 2016 2015 Net loss $ (1,106,188 ) $ (2,199,196 ) $ (459,157 ) $ (6,146,617 ) Basic weighted average common shares outstanding 57,491,671 45,976,649 56,158,268 45,372,975 Add incremental shares for: Stock options - - - - Diluted weighted average common shares outstanding 57,491,671 45,976,649 56,158,268 45,372,975 Net income loss per share: Basic $ (0.02 ) $ (0.05 ) $ (0.01 ) $ (0.14 )

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	5. 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 and six months ended June 30, 2016 was $21,504 and $23,737, respectively. Total rent expense for the three and six months ended June 30, 2015 was $43,336 and $47,894, respectively. Future minimum lease payments are as follows: 2016 $ 41,155 2017 84,233 2018 71,797 2019 - 2020 - Thereafter - Total $ 197,185 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 United States District Court Southern District of New York heard oral argument on the Motion to Dismiss on June 23, 2016, and at the conclusion took the Motion to Dismiss under advisement. There has been no decision as of the date of this report and the Company believes that the allegations in the Complaint to be without any merit and plans to vigorously defend against the claims.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	6. SUBSEQUENT EVENTS On July 13, 2016, the Company entered into a note purchase agreement with an investor pursuant to which an investor purchased a promissory note from the Company in exchange for $500,000. The Note automatically converts by its terms 30 days after issuance into an investment in the principal amount of the note in the Company’s convertible notes and warrants, upon automatic conversion, the investor shall be issued a one year promissory note convertible into shares of the Company’s Common Stock at a $0.50 conversion price and 7 year warrants with an exercise price of $0.50 and a cashless conversion feature. During the month of July 2016, the Company issued and sold convertible promissory notes totaling $216,000 together with warrants to purchase 216,000 shares of the Company’s Common Stock for gross proceeds of $216,000 pursuant to certain note subscription agreements entered into between the Company and investors. Such warrants have an exercise price of $0.50 and a term of 5 years and a cashless conversion feature. As of the date of this report, $216,000 of the notes have been converted pursuant to their terms into warrants to purchase shares of the Company’s Common Stock and shares of Common Stock as set forth below. During the month of July 2016, the Company issued and sold convertible promissory notes totaling $37,680 together with warrants to purchase 37,680 shares of the Company’s Common Stock for gross proceeds of $37,680 in connection with Rescission Agreements entered into between the Company and investors. During July of 2016, the Company issued 37,680 Replacement Warrants pursuant to Rescission Agreements. Such warrants have an exercise price of $0.50 and a term of 5 years and a cashless conversion feature. The notes issued pursuant to the Rescission Agreements were simultaneously converted upon issuance into shares of the Company’s Common Stock and warrants to purchase shares of the Company’s Common Stock as described below. During the month of July 2016, the Company issued 928,800 shares of the Company’s Common Stock upon conversion of certain promissory notes. During the month of July 2016, the Company issued 40,695 shares of the Company’s Common Stock upon conversion of certain promissory notes in connection with Rescission Agreements. During the month of July 2016, the Company issued warrants to purchase 928,800 shares of its Common Stock related to the conversion of certain convertible notes. Such warrants have an exercise price of $0.50 and a term of 5 years and a cashless conversion feature. During the month of August 2016, the Company issued and sold a convertible promissory note totaling $8,500 together with warrants to purchase 8,500 shares of the Company’s Common Stock for gross proceeds of $8,500 pursuant to certain note subscription agreement entered into between the Company and an investor. Such warrants have an exercise price of $0.50 and a term of 5 years and a cashless conversion feature.

Background, Basis of Presenta12

Background, Basis of Presentation, and Going Concern (Tables)	6 Months Ended
	Jun. 30, 2016
Background, Basis of Presentation, and Going Concern [Abstract]
Schedule of financial statements error corrections	As of December 31, 2015 As Reported Revision As Revised Conversion option derivative liability $ 8,145,160 $ (2,733,973 ) $ 5,411,187 Convertible debt, net of unamortized discounts 1,051,545 72,273 1,123,818 Total current liabilities 28,168,610 (2,661,700 ) 25,506,910 Total liabilities 28,168,610 (2,661,700 ) 25,506,910 Accumulated deficit (204,989,355 ) 3,484,877 (201,504,478 ) Additional paid in capital 176,932,064 (823,177 ) 176,108,887 Total stockholders' deficit (28,052,143 ) 2,661,700 (25,390,443 )
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 - - 6,683,299 Conversion option derivative liability - - 2,623,917 Total liabilities - - 9,307,216 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 - - 5,411,187 Total liabilities - - 18,207,333
Schedule of reconciliation of changes in the fair value of financial assets and liabilities	Significant Unobservable Significant Unobservable Inputs Inputs (Level 3) (Level 3) Three Months Ended Six Months Ended 2016 2015 2016 2015 Beginning balance $ 9,948,356 $ 3,379,642 $ 18,207,333 $ 847,791 Change in fair value (1,185,582 ) (14,561 ) (9,444,559 ) 2,440,922 Additions reclassified from equity - - - 76,368 Additions recognized as compensation expense 544,442 230,971 544,442 230,971 Ending balance $ 9,307,216 $ 3,596,052 $ 9,307,216 $ 3,596,052

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of warrants assumptions used	Six Months Ended June 30, 2016 2015 Volatility 129-.70 % - 180.15% 108.72% - 111.37% Risk-free interest rate 0.65% - 1.78% 0.725% - .87% Expected term 2.5 - 10 years 3.5 - 5 years
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock option / warrant activity	Number of Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Life (years) Outstanding at December 31, 2015 50,000 $ 0.50 10.0 Granted - Exercised - Forfeited - Outstanding at June 30, 2016 50,000 0.50 9.5 Exercisable at June 30, 2016 7,000 $ 0.50 9.5
Warrants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of stock option / warrant activity	Weighted Outstanding as of December 31, 2015 40,026,431 $ 1.83 4.6 $ 54,932,218 Granted 14,886,992 - Expired (97,500 ) - Exercised (12,577 ) - Outstanding as of June 30, 2016 54,803,346 $ 0.88 5.1 $ 42,193,096 Exercisable as of June 30, 2016 52,478,346 $ 0.90 5.1 $ 42,193,096

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2016
Net Income (Loss) Per Share [Abstract]
Schedule of basic and diluted net income (loss) per common share	Three Months Ended Six Months Ended 2016 2015 2016 2015 Net loss $ (1,106,188 ) $ (2,199,196 ) $ (459,157 ) $ (6,146,617 ) Basic weighted average common shares outstanding 57,491,671 45,976,649 56,158,268 45,372,975 Add incremental shares for: Stock options - - - - Diluted weighted average common shares outstanding 57,491,671 45,976,649 56,158,268 45,372,975 Net income loss per share: Basic $ (0.02 ) $ (0.05 ) $ (0.01 ) $ (0.14 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies [Abstract]
Schedule of future minimum lease payments	2016 $ 41,155 2017 84,233 2018 71,797 2019 - 2020 - Thereafter - Total $ 197,185

Background, Basis of Presenta16

Background, Basis of Presentation, and Going Concern (Details) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Conversion option derivative liability	$ 2,623,917	$ 5,411,187
Convertible debt, net of unamortized discounts	1,354,522	1,123,818
Total current liabilities	15,914,536	25,506,910
Total liabilities	15,914,536	25,506,910
Accumulated deficit	(201,963,635)	(201,504,478)
Additional paid in capital	186,484,983	176,108,887
Total stockholders' deficit	$ (15,472,844)	(25,390,443)
As Reported (Member)
Statement of Financial Position [Abstract]
Conversion option derivative liability		8,145,160
Convertible debt, net of unamortized discounts		1,051,545
Total current liabilities		28,168,610
Total liabilities		28,168,610
Accumulated deficit		(201,504,478)
Additional paid in capital		176,108,887
Total stockholders' deficit		(28,052,143)
Revision [Member]
Statement of Financial Position [Abstract]
Conversion option derivative liability		(2,733,973)
Convertible debt, net of unamortized discounts		72,273
Total current liabilities		(2,661,700)
Total liabilities		(2,661,700)
Accumulated deficit		3,484,877
Additional paid in capital		(823,177)
Total stockholders' deficit		$ 2,661,700

Background, Basis of Presenta17

Background, Basis of Presentation, and Going Concern (Details 1) - USD ($)	Jun. 30, 2016	Dec. 31, 2015
Liabilities
Warrant derivative liability	$ 6,683,299	$ 12,796,146
Conversion option derivative liability	2,623,917	5,411,187
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	6,683,299	12,796,146
Conversion option derivative liability	2,623,917	5,411,187
Total liabilities	$ 9,307,216	$ 18,207,333

Background, Basis of Presenta18

Background, Basis of Presentation, and Going Concern (Details 2) - Fair Value, Inputs, Level 3 [Member] - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 9,948,356	$ 3,379,642	$ 18,207,333	$ 847,791
Change in fair value	(1,185,582)	(14,561)	(9,444,559)	2,440,922
Additions reclassified from equity				76,368
Additions recognized as compensation expense	544,442	230,971	544,442	230,971
Ending balance	$ 9,307,216	$ 3,596,052	$ 9,307,216	$ 3,596,052

Background, Basis of Presenta19

Background, Basis of Presentation, and Going Concern (Details Textual) - USD ($)	Jun. 30, 2016	Dec. 31, 2015	Mar. 30, 2015	Sep. 24, 2013
Background, Basis of Presentation, and Going Concern (Textual)
Equity interests, ownership percentage			67.26%	100.00%
Working capital deficit	$ 15,483,148
Accumulated deficit	$ (201,963,635)	$ (201,504,478)

Debt (Details)

Debt (Details) - USD ($)	May 12, 2016	Mar. 07, 2016	Jan. 06, 2016	Feb. 26, 2014	Jan. 25, 2016	Jan. 22, 2016	Jun. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015	Sep. 01, 2015
Debt (Textual)
Outstanding debt							$ 100,000	$ 100,000			$ 100,000		$ 150,000
Amortization of debt discounts											1,670,163	$ 251,250
Outstanding balance of notes payable									$ 100,000
Loss on extinguishment of debt								(124,044)		$ (150,000)	(3,756,985)	(150,000)
Fair value of beneficial conversion feature											1,473,366	424,428
Advances to related parties													670,848
Proceeds from convertible notes											455,000	1,230,000
Advances from related party											1,375,000
Repayments to related party											150,000
Chief Financial Officer [Member]
Debt (Textual)
Accounts payable related parties							$ 0	$ 0			$ 0		62,469
Warrant [Member]
Debt (Textual)
Exercise price of warrants														$ 1
Promissory note [Member]
Debt (Textual)
Minimum interest rate							0.50%	0.50%			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							$ 100,000	$ 100,000			$ 100,000		150,000
Loss on extinguishment of debt													44,044
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
Amortization of debt discounts											163,714	113,253
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	0			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)
Warrants issued for conversion of notes					4,320,000
Fair value of warrants issued						$ 2,236,921
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
Issuance of private placement						2,000,000
Principal amount of debt						2,000,000
Term of warrant					10 years
Fair value of beneficial conversion feature					$ 899,265	$ 1,100,735
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 to related parties							$ 500,000	$ 500,000			500,000		$ 110,000
Advances from related party											510,000
Repayments to related party											$ 120,000
Convertible Notes Payable [Member]
Debt (Textual)
Minimum interest rate	8.00%	8.00%					8.00%	8.00%			8.00%
Warrants issued for conversion of notes		80,000					375,000
Amortization of debt discounts											$ 1,506,449	$ 137,997
Accrued interest							$ 182,162	$ 182,162	$ 790		$ 182,162
Debt discount		$ 38,205					$ 158,423
Warrants issued to purchase common stock								577,031	61,578
Exercise price of warrants		$ 0.50					$ 0.50	$ 0.50			$ 0.50
Loss on extinguishment of debt	$ 44,044
Unamortized discount											$ 362,455		561,728
Term of warrant		5 years					5 years
Fair value of the conversion options		$ 22,290					$ 116,129
Fair value of beneficial conversion feature								$ 56,197	$ 3,787
Additional warrant expense	$ 12,415	19,505					100,449
Fair value of warrants issued	50,000
Conversion of debt instrument, value								$ 267,144	$ 30,000
Conversion of debt instrument, shares								577,031
Notes payable to related parties							2,000,000	$ 2,000,000			2,000,000
Proceeds from convertible notes		80,000					375,000
Convertible notes payable		$ 80,000					$ 1,354,522	1,354,522			1,354,522		$ 1,123,818
Conversion of units, shares		160,000					750,000
Maturity date, description		One year					One year
Fair value of the derivative liability							$ 2,623,917	2,623,917			2,623,917
Fair value of warrants issued with debt		80,000					425,000
Conversion price	$ 0.50
Term of warrants	5 years
Exercise price	$ 0.50
Beneficial conversion feature recognized as additional paid in capital	$ 37,584
Convertible Debt [Member]
Debt (Textual)
Fair value of the derivative liability							$ 2,623,917	$ 2,623,917			$ 2,623,917

Equity (Details)

Equity (Details) - Stock Options [Member] - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Number of Shares
Number of Shares, Outstanding Beginning Balance	50,000
Number of Shares, Granted
Number of Shares, Exercised
Number of Shares, Forfeited
Number of Shares, Outstanding Ending Balance	50,000	50,000
Number of Shares, Exercisable	7,000
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 0.50
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Forfeited
Weighted Average Exercise Price, Outstanding Ending Balance	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 6 months	10 years
Weighted Average Remaining Contractual Life (years), Exercisable	9 years 6 months

Equity (Details 1)

Equity (Details 1) - Warrants [Member] - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Number of Shares
Number of Shares, Outstanding Beginning Balance	40,026,431
Number of Shares, Granted	14,886,992
Number of Shares, Expired	(97,500)
Number of Shares, Exercised	(12,577)
Number of Shares, Outstanding Ending Balance	54,803,346	40,026,431
Number of Shares, Exercisable	52,478,346
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding Beginning Balance	$ 1.83
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Expired
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Outstanding Ending Balance	0.88	$ 1.83
Weighted Average Exercise Price, Exercisable	$ 0.90
Weighted Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Term (in years), Outstanding	5 years 1 month 6 days	4 years 7 months 6 days
Weighted Average Remaining Contractual Term (in years), Exercisable	5 years 1 month 6 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding Beginning Balance	$ 54,932,218
Aggregate Intrinsic Value, Outstanding Ending Balance	42,193,096	$ 54,932,218
Aggregate Intrinsic Value, Exercisable	$ 42,193,096

Equity (Details 2)

Equity (Details 2) - Warrant [Member]	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	129.70%	108.72%
Risk-free interest rate	0.65%	0.725%
Expected term	2 years 6 months	3 years 6 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	180.15%	111.37%
Risk-free interest rate	1.78%	0.87%
Expected term	10 years	5 years

Equity (Details Textual)

Equity (Details Textual) - USD ($)	May 13, 2016	Nov. 04, 2015	Sep. 01, 2015	Apr. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Equity (Textual)
Fair value of derivative liability of warrants										$ 12,796,146
Gain (loss) on change in fair value of derivative					$ 1,185,582		$ 14,561	$ 9,444,559	$ (2,440,922)
Derivative liability					$ 6,683,299			$ 6,683,299		12,796,146
Shares issued					12,577			12,577
Proceeds from exchange of common stock					$ 6,288			$ 466,451
Loss on extinguishment of liability					$ (124,044)		(150,000)	$ (3,756,985)	(150,000)
Common stock price per share					$ 0.50			$ 0.50
Common Stock [Member]
Equity (Textual)
Shares issued					1,007,535	372,263		1,007,535
Warrants to purchase common stock					3,031,050	1,140,662		3,031,050
Proceeds from exchange of common stock				$ 40,062	$ 466,451	$ 172,342		$ 67,536
Fair value of shares and warrants								617,174
Loss on extinguishment of liability								$ 549,638
Common stock issued, shares								245,878
Number of warrant to purchase of common stock								426,741
Stock Options [Member]
Equity (Textual)
Stock option awards expenses					4,164		$ 0	$ 8,326	$ 0
Future stock compensation expense								$ 60,612
Weighted average remaining vesting period								3 years 8 months 12 days
Stock option outstanding intrinsic value					13,495			$ 13,495
Warrants one [Member]
Equity (Textual)
Stock option awards expenses								544,442
Stock option outstanding intrinsic value					42,193,096			42,193,096		$ 54,932,218
Fair value of warrants issued								898,465
Gain (loss) on change in fair value of derivative								5,568,402
Warrants to purchase common stock		2,400,000
Number of warrant shares vested		1,200,000
Warrant expense					324,851			649,703
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.
Recognize Black-Scholes option pricing model expenses					120,895			231,179
Warrants one [Member] | First Anniversary [Member]
Equity (Textual)
Number of warrant shares vested		600,000
Warrants one [Member] | Second Anniversary [Member]
Equity (Textual)
Number of warrant shares vested		600,000
Warrants one [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 one [Member] | Mr.Tobin [Member] | First Anniversary [Member]
Equity (Textual)
Number of warrant shares vested			375,000
Warrants one [Member] | Mr.Tobin [Member] | Second Anniversary [Member]
Equity (Textual)
Number of warrant shares vested			375,000
Warrants one [Member] | Mr.Tobin [Member] | Third Anniversary [Member]
Equity (Textual)
Number of warrant shares vested			375,000
Warrants two [Member]
Equity (Textual)
Fair value of warrants issued								374,360
Warrants to purchase common stock	1,000,000
Number of warrant shares vested	500,000
Common stock price per share	$ 1
Determination of fair value	The fair value of the first 500,000 Warrant Shares was determined to be $388,888 using the Black-Scholes option pricing model and was recognized as expense during the quarter ended June 30, 2016.
Recognize Black-Scholes option pricing model expenses					$ 36,228			$ 36,228
Warrants two [Member] | First Anniversary [Member]
Equity (Textual)
Number of warrant shares vested	250,000
Warrants two [Member] | Second Anniversary [Member]
Equity (Textual)
Number of warrant shares vested	250,000
Warrants three [Member]
Equity (Textual)
Warrants to purchase common stock	200,000
Common stock price per share	$ 1
Determination of fair value	The fair value of the Warrant Shares was determined to be $155,554 using the Black-Scholes option pricing model and was recognized as expense during the quarter ended June 30, 2016.

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net Income (Loss) Per Share [Abstract]
Net loss	$ (1,106,188)	$ (2,199,196)	$ (459,157)	$ (6,146,617)
Basic weighted average common shares outstanding	57,491,671	45,976,649	56,158,268	45,372,975
Add incremental shares for:
Stock options
Diluted weighted average common shares outstanding	57,491,671	45,976,649	56,158,268	45,372,975
Net income loss per share:
Basic	$ (0.02)	$ (0.05)	$ (0.01)	$ (0.14)

Commitments and Contingencies26

Commitments and Contingencies (Details)	Jun. 30, 2016USD ($)
Schedule of future minimum lease payments
2,016	$ 41,155
2,017	84,233
2,018	71,797
2,019
2,020
Thereafter
Total	$ 197,185

Commitments and Contingencies27

Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Mar. 30, 2015	Sep. 24, 2013
Commitments and Contingencies (Textual)
Rent expense	$ 21,504	$ 43,336	$ 23,737	$ 47,894
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 ($)	Jul. 13, 2016	Aug. 31, 2016	Jul. 31, 2016	Jun. 30, 2016	Jun. 30, 2015	Sep. 01, 2015
Subsequent Event [Line Items]
Proceeds from Common Stock				$ 455,000	$ 1,230,000
Warrant [Member]
Subsequent Event [Line Items]
Exercise price of warrants						$ 1
Subsequent Event [Member]
Subsequent Event [Line Items]
Conversion of stock, shares issued			928,800
Subsequent Event [Member] | Purchase Agreement [Member]
Subsequent Event [Line Items]
Proceeds from Common Stock	$ 500,000
Common Stock conversion price	$ 0.50
Exercise price of warrants	$ 0.50
Warrants term period	7 years
Subsequent Event [Member] | Subscription Agreements [Member]
Subsequent Event [Line Items]
Proceeds from Common Stock		$ 8,500	$ 216,000
Issued warrants to purchase common Stock		8,500	216,000
Exercise price of warrants		$ 0.50	$ 0.50
Warrants term period		5 years	5 years
Subsequent Event [Member] | Rescission Agreements [Member]
Subsequent Event [Line Items]
Proceeds from Common Stock			$ 37,680
Issued warrants to purchase common Stock			37,680
Exercise price of warrants			$ 0.50
Warrants term period			5 years
Conversion of stock, shares issued			40,695
Subsequent Event [Member] | Warrant [Member]
Subsequent Event [Line Items]
Issued warrants to purchase common Stock			928,800
Exercise price of warrants			$ 0.50
Warrants term period			5 years