NanoFlex Power (OPVS) 10-Q 10 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 07, 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	Sep. 30, 2016
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		59,309,087

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 41,725	$ 6,255
Accounts receivable	85,000	95,623
Prepaid expenses and other current assets	11,079	854
Total current assets	137,804	102,732
Property and equipment, net	8,589	13,735
Total assets	146,393	116,467
Current liabilities:
Accounts payable	3,011,769	3,341,905
Accounts payable- related party	1,420	62,469
Accrued expenses	1,437,365	1,840,537
Warrant derivative liability	8,990,943	12,796,146
Conversion option derivative liability	3,590,660	5,411,187
Short-term debt, net of unamortized discounts	184,411	150,000
Short-term debt- related party, net of unamortized discounts		670,848
Convertible debt, net of unamortized discounts	1,554,733	1,123,818
Advances - related party	350,000	110,000
Total current liabilities	19,121,301	25,506,910
Total liabilities	19,121,301	25,506,910
Stockholders' deficit:
Common stock, 250,000,000 authorized, $0.0001 par value, 59,196,686 and 51,473,157 issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	5,919	5,148
Additional paid-in capital	188,751,460	176,108,887
Accumulated deficit	(207,732,287)	(201,504,478)
Total stockholders' deficit	(18,974,908)	(25,390,443)
Total liabilities and stockholders' deficit	$ 146,393	$ 116,467

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) (Unaudited) - $ / shares	Sep. 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	59,196,687	51,473,157
Common stock, shares, outstanding	59,196,687	51,473,157

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statements of Operations [Abstract]
Revenue	$ 85,000		$ 115,400
Cost of services	(97,829)		(331,710)
Gross loss	(12,829)		(216,310)
Operating expenses:
Research and development	299,500	327,253	1,475,847	828,002
Patent application and prosecution fees	649,378	321,643	1,187,145	1,490,657
Selling, general and administrative expenses	772,508	1,281,736	2,122,330	2,629,669
Total operating expenses	1,721,386	1,930,632	4,785,322	4,948,328
Loss from operations	(1,734,215)	(1,930,632)	(5,001,632)	(4,948,328)
Other income (expenses):
Gain (loss) on change in fair value of derivative	(3,274,387)	(8,977,501)	6,170,172	(11,418,423)
Loss on extinguishment of debt			(3,756,985)	(150,000)
Interest expense	(760,050)	(747,477)	(3,639,364)	(1,285,476)
Total other income (expense)	(4,034,437)	(9,724,978)	(1,226,177)	(12,853,899)
Net loss	$ (5,768,652)	$ (11,655,610)	$ (6,227,809)	$ (17,802,227)
Net loss per common share:
Basic and diluted	$ (0.10)	$ (0.24)	$ (0.11)	$ (0.38)
Weighted average common shares outstanding:
Basic and diluted	58,973,457	49,488,166	57,103,514	46,759,780

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (6,227,809)	$ (17,802,227)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	5,146	3,745
Warrants issued as compensation	1,662,364	817,049
Options issued as compensation	12,489
Interest expense of warrants related to conversion of debt	1,090,759	458,743
Amortization of debt discounts	2,225,077	765,006
Loss on extinguishment of debt	3,756,985	150,000
Warrants issued for interest expense	6,023
Derivative warrant issued for services	544,442	230,971
(Gain) loss on change in fair value of derivative liabilities	(6,170,172)	11,418,423
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	(10,225)	3,836
Accounts receivable	10,623
Accounts payable	(330,136)	1,624,216
Accounts payable - related party	(61,049)	19,999
Accrued expenses	(113,757)	(286,483)
Net cash used in operating activities	(3,599,240)	(2,596,722)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common shares and warrants	663,922	86,000
Proceeds from exercise of warrants	6,288	914,218
Borrowings from short-term debt	300,000
Proceeds from short-term debt		50,000
Borrowings on related party debt	1,375,000	300,000
Payments on related party debt	(150,000)
Borrowings on convertible debt	1,199,500	1,657,500
Advances received from related party	510,000	193,350
Advances repaid to related party	(270,000)	(451,500)
Net cash provided by financing activities	3,634,710	2,749,568
NET INCREASE IN CASH	35,470	152,846
Cash, beginning of the period	6,255	168
Cash, end of the period	41,725	153,014
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	11,435
Cash paid for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES
Principal and interest converted into common stock	3,015,501	1,457,595
Debt discount on beneficial conversion feature and warrants issued with convertible debt	2,056,493	1,079,117
Debt discount due to warrants issued with promissory notes	1,231,366
Accrued liabilities settled with common shares and warrants	67,536
Reclassification of conversion option as derivative liabilities		5,743,021
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	9 Months Ended
	Sep. 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 nine months ended September 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 periods 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. The Company determined that the correction of the cumulative amounts of the errors would be material to its consolidated financial statements for the three and six months ended June 30, 2016. Therefore, the Company revised its previously-issued financial statements as of December 31, 2015 and for the third and fourth quarters of fiscal 2015 and first quarter of fiscal 2016. The balance sheet as of December 31, 2015 and the statement of operations for the three and nine months ended September 30, 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 balance sheet for the year ended December 31, 2015: 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 ) The following tables present the effect of the aforementioned revisions on the Company’s consolidated statement of operations for the three and nine months ended September 30, 2015: Three Months Ended September 30, 2015 As Reported Revision As Revised Gain (loss) on change in fair value of derivative $ (10,461,536 ) $ 1,484,035 $ (8,977,501 ) Interest expense (526,378 ) (221,099 ) (747,477 ) Total other expense (10,987,914 ) 1,262,936 (9,724,978 ) Net loss (12,918,546 ) 1,262,936 (11,655,610 ) Net loss per share (basic and diluted) (0.26 ) (0.02 ) (0.24 ) Nine Months Ended September 30, 2015 As Reported Revision As Revised Gain (loss) on change in fair value of derivative $ (12,902,458 ) $ 1,484,035 $ (11,418,423 ) Interest expense (1,064,377 ) (221,099 ) (1,285,476 ) Total other expense (14,116,835 ) 1,262,936 (12,853,899 ) Net loss (19,065,163 ) 1,262,936 (17,802,227 ) Net loss per share (basic and diluted) (0.41 ) (0.03 ) (0.38 ) These revisions to the consolidated statements of cash flows for the nine months ended September 30, 2015 did not result in any changes to the amounts previously reported for net cash from (used in) operating, investing and financing activities. Going Concern The Company has generated limited revenue to date. The Company has a working capital deficit of $18,983,497 and an accumulated deficit of $207,732,287 as of September 30, 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 September 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 September 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 - - 8,990,943 Conversion option derivative liability - - 3,590,660 Total liabilities $ - $ - $ 12,581,603 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Beginning balance $ 9,307,216 $ 3,596,052 $ 18,207,333 $ 847,791 Change in fair value 3,274,387 8,977,501 (6,170,172 ) 11,418,423 Additions reclassified from equity - 5,743,021 - 5,819,389 Additions recognized as compensation expense - - 544,442 230,971 Ending balance $ 12,581,603 $ 18,316,574 $ 12,581,603 $ 18,316,574

Debt

Debt	9 Months Ended
	Sep. 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 September 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.. 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. During the three months ended September 30, 2016, the Company issued a promissory note of $300,000. The term of the note expires one year from the effective date and has an interest rate of 10%. 600,000 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. The relative fair value of the warrants of $235,188 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 $19,599 associated with the amortization of debt discount for the three and nine months ended September 30, 2016. As of September 30, 2016 and December 31, 2015, the aggregate outstanding balance of non-convertible notes payable was $400,000 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 $2 million notes. Pursuant to the Conversion Agreement, the investor converted the $2 million 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 $2 million 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 $0.50 per share. 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. As of September 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, respectively. Advances – Related Party During the three and nine months ended September 30, 2016, the Company received advances from its Chief Executive Officer totaling $0 and $510,000, respectively, and repaid advances totaling $150,000 and $270,000, respectively. As of September 30, 2016 and December 31, 2015, the aggregate outstanding balance of advances to related parties was $350,000 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 was recognized as a discount to the debt. This note also gave rise to a beneficial conversion feature of $22,290 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 $19,505 associated with the warrants that are to be issued upon conversion, which is to be recognized only upon conversion. 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. 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 and received 500,000 warrants with a seven year life and exercise price of $0.50 per share in exchange for $500,000. The promissory note had a clause that automatically modified it 30 days after issuance (on August 12, 2016) into a convertible note. The convertible note has a principal amount of $500,000, includes the issuance of 500,000 additional warrants, interest of 8% per annum, a maturity date of one year and is convertible into 1,000,000 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 500,000 warrants issued on July 13, 2016 was $161,010. The relative fair value of the 500,000 warrants issued on August 12, 2016 was $117,377. The total of $278,386 was recognized as a discount to the debt. This note also gave rise to a beneficial conversion feature of $123,233 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 $98,381 associated with the warrants that are to be issued upon conversion, which is to be recognized only upon conversion. From July 6, 2016 through September 30, 2016, the Company received additional aggregate proceeds of $244,500 in exchange for 12 convertible notes and the issuance of 244,500 warrants with a five year life and exercise price of $0.50 per share. The convertible notes have an aggregate principal amount of $244,500, interest of 8% per annum, a maturity date of one year and are convertible into an aggregate of 489,000 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 244,500 warrants issued with the debt was determined to be $102,835 and was recognized as a discount to the debt. These notes also gave rise to a beneficial conversion feature of $78,673 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 $62,992 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 $21,371 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 exercise. This additional warrant expense was immediately recognized as interest expense with an offset to additional paid-in-capital. During the three months ended September 30, 2016, the full principal balances of certain notes totaling $496,477 with accrued interest of $39,718 were converted pursuant to the terms of the notes into 1,072,390 shares of the Company’s common stock and 1,072,390 warrants to purchase common stock. Upon conversion, the Company accelerated the recognition of all remaining debt discount and also recognized additional interest expense of $131,510 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. Aggregate amortization of the discounts on the convertible notes for the nine months ended September 30, 2016 and 2015 was $2,030,827 and $626,187, respectively. As of September 30, 2016 and December 31, 2015, the aggregate outstanding balance of convertible notes payable was $1,339,144 and $1,123,818, respectively, net of unamortized discounts of $625,856 and $561,728, respectively. Derivative Liabilities - Convertible Notes As of September 30, 2016, the fair value of the outstanding convertible note derivatives was determined to be $3,590,660 and recognized a gain of $1,820,527. There were no new convertible note derivatives that arose during the three or nine months ended September 30, 2016. Accounts Payable - Related Party As of September 30, 2016 and December 31, 2015, there is $1,420 and $62,469, respectively, due to a related party, the Company’s Chief Financial Officer, which is non-interest bearing and due on demand.

Equity

Equity	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
EQUITY	3. EQUITY Common Stock During the six months ended June 30, 2016, the Company issued 245,878 common shares and warrants to purchase 426,741 common shares of the Company’s common stock in exchange for proceeds of $67,536. The Company determined a fair value for the shares and warrants to be $617,174. The cash was received prior to December 31, 2015 and was recorded as an accrued liability at December 31, 2015. This transaction resulted in a loss on extinguishment of liability of $549,638. 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. During the three months ended September 30, 2016, the Company issued 54,278 common shares and warrants to purchase 205,050 common shares of the Company’s common stock in exchange for proceeds of $25,129 and interest expense of $6,023. Stock Options A summary of stock option activity during the nine months ended September 30, 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 September 30, 2016 50,000 0.50 9.2 Exercisable at September 30, 2016 10,000 $ 0.50 9.2 Stock option awards are expensed on a straight-line basis over the requisite service period. During the three and nine months ended September 30, 2016 the Company recognized expense of $4,164 and $12,489, respectively, associated with stock option awards. During the three and nine months ended September 30, 2015 the Company recognized expense of $0 and $0, respectively, associated with stock option awards. At September 30, 2016, future stock compensation expense (net of estimated forfeitures) not yet recognized was $56,448 and will be recognized over a weighted average remaining vesting period of 3.4 years. The intrinsic value of the Company’s stock options outstanding was $26,311 at September 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 vested 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 $265,787 and $915,489 was recognized during the three and nine months ended September 30, 2016, respectively. The agreement contains an anti-dilution provision and therefore the exercise price at September 30, 2016 is $0.50 per share. On September 23, 2016, the Company issued warrants to purchase 15,000 shares of the Company’s common stock at $1.00 per share to a consultant in exchange for services already performed. The warrants have a five year term and are immediately vested. The fair value of the warrants was determined to be $13,618 using the Black-Scholes option pricing model of which $13,618 was recognized as expense during the three and nine months ended September 30, 2016. The following summarizes the warrant activity for the nine months ended September 30, 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 19,254,051 - Expired (110,000 ) - Exercised (12,577 ) - Outstanding as of September 30, 2016 59,157,905 $ 0.83 4.9 $ 60,709,026 Exercisable as of September 30, 2016 57,220,405 $ 0.83 4.9 $ 60,709,026 Derivative Liabilities - Warrants The anti-dilution features in the freestanding warrants issued in the nine months ended September 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 $4,349,645 and warrant expense of $1,277,699 for the nine months ended September 30, 2016, to reflect the value of the warrant derivative liability of $8,990,943 as of September 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 vested 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 $1,195,985 as of September 30, 2016 using the Black-Scholes option pricing model of which $373,008 and $604,187 was recognized as expense during the three and nine months ended September 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 $500,539 as of September 30, 2016 using the Black-Scholes option pricing model of which $92,842 and 517,958 was recognized as expense during the three and nine months ended September 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 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 total $199,905 as of September 30, 2016 using the Black-Scholes option pricing model of which $155,554 was recognized as expense during the three and nine months ended September 30, 2016. The warrants were valued using the Black-Scholes pricing model with the following assumptions: Nine Months Ended September 30, 2016 2015 Volatility 129-.70 % - 183.62% 113.46% - 141.78% Risk-free interest rate 0.44% - 1.78% 0.08% - 1.88% Expected term 2.25 - 10 years 0.25 - 5 years

Net Loss Per Share

Net Loss Per Share	9 Months Ended
	Sep. 30, 2016
Net Loss Per Share [Abstract]
NET LOSS PER SHARE	4. NET LOSS PER SHARE Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net loss $ (5,768,652 ) $ (11,655,610 ) $ (6,227,809 ) $ (17,802,227 ) Basic weighted average common shares outstanding 58,973,457 49,488,166 57,103,514 46,759,780 Add incremental shares for: Stock options - - - - Diluted weighted average common shares outstanding 58,973,457 49,488,166 57,103,514 46,759,780 Net income loss per share: Basic and diluted $ (0.10 ) $ (0.24 ) $ (0.11 ) $ (0.38 )

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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 nine months ended September 30, 2016 was $21,039 and $64,375, respectively. Total rent expense for the three and nine months ended September 30, 2015 was $22,807 and $70,701, respectively. Future minimum lease payments are as follows: 2016 $ 20,770 2017 84,233 2018 71,797 2019 - 2020 - Thereafter - Total $ 176,800 Concentrations All of the Company’s revenue and accounts receivable are currently earned from one customer. Legal Matters 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. The Court ruled on August 24, 2016, regarding the Motion to Dismiss, and granted the motion in part and denied the motion in part. The Court granted a dismissal of all claims against Mr. Foster and dismissal of the Plaintiff’s declaratory judgment claim. All other claims by the Plaintiff continue to be outstanding. The Company filed an answer to the Complaint on September 14, 2016, and the Plaintiff responded to the Company’s counter claims contained in the Company’s answer on November 7, 2016. Other than the foregoing, there have been no new developments in the case since the filing of the answer. The Company believes that the Plaintiff’s allegations and claims are without any merit and plans to continue to vigorously defend against the claims.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	6. SUBSEQUENT EVENTS On October 7, 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 $100,000. In connection with the note, the investor was also issued a warrant to purchase 200,000 shares of the Company’s common stock with a 5 year term and $.50 exercise price and a cashless conversion feature. The Note automatically converted by its terms on November 7, 2016, 30 days after issuance into an investment in the principal amount of the note in the Company’s convertible notes and warrants, and upon automatic conversion, the investor was issued a one year promissory note for $100,000 convertible into shares of the Company’s Common Stock at a $.50 conversion price and 5 year warrants to purchase 100,000 shares of Common Stock with an exercise price of $.50 and a cashless conversion feature. During October, 2016, the Company issued and sold a convertible promissory note totaling $25,000 together with warrants to purchase 25,000 shares of the Company’s Common Stock for gross proceeds of $25,000 pursuant to certain note subscription agreements 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. As of the date of this report, the note has 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 October, 2016, the Company issued 122,400 shares of the Company’s Common Stock upon conversion of certain promissory notes. During October, 2016, the Company issued warrants to purchase 122,400 shares of its Common Stock related to the conversion of certain convertible notes. Such warrants have an exercise price of $.50 and a term of 5 years and a cashless conversion feature. On October 3, 2016, 50,000 stock options were granted to an employee of the Company. The options vest on a monthly basis of 1,000 shares per month beginning on October 3, 2016, over a 50 month period. The options expire 5 years after vesting. On October 21, 2016, the Company entered into an amendment to the Independent Contractor Agreement (the “Allen Amendment”) with Mr. Norman Allen; the Allen Amendment added in a clause stating that if the Company raises not less than $6,000,000 in funds from sales of its securities subsequent to the Allen Amendment then, the cash compensation under the Independent Contractor Agreement would be amended from a $1,500 daily fee to a $15,000 monthly fee. A copy of the Allen Amendment is filed herewith as Exhibit 10.1. As reported by the Company in its current report on Form 8-K filed on October 26, 2016, on October 21, 2016, the Company entered into a second amendment to the Employment Agreement with Dean Ledger, the Company’s Chief Executive Officer (the “Ledger Amendment”). The Ledger Amendment added in a clause stating that if the Company raises not less than $6,000,000 in funds from sales of its securities subsequent to the Ledger Amendment, then Mr. Ledger’s base salary would increase from $210,000 to $240,000 and reduced Mr. Ledger’s severance upon the termination of Mr. Ledger in connection with a change of control transaction to six months. A copy of the Ledger Amendment was filed as Exhibit 10.1 to the Form 8-K. In the first amendment to the Employment Agreement dated May 8, 2015, Mr. Ledger agreed to a salary reduction of his base salary from $300,000 to $210,000. A copy of the first amendment to the Employment Agreement was filed as Exhibit 10.18 to the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 filed on March 18, 2016. A copy of the Employment agreement was filed as Exhibit 10.4 to the Company’s Current Report on Form 8-K filed on November 25, 2013. Further, as reported by the Company in its current report on Form 8-K filed on October 26, 2016, on October 21, 2016, the Company entered into an amendment (the “Tobin Amendment”) to the Employment Agreement with Mark Tobin, the Company’s Chief Financial Officer. The Tobin Amendment added in a clause stating that if the Company raises not less than $6,000,000 in funds from sales of its securities subsequent to the Tobin Amendment, then Mr. Tobin’s base salary would increase from $190,000 to $225,000 and added a termination for “Good Reason” clause, as well as a six month severance upon the termination of Mr. Tobin. The Tobin Amendment also added the responsibilities of an Executive Vice President to Mr. Tobin’s duties and responsibilities under his Employment Agreement. A copy of the Tobin Amendment was filed as Exhibit 10.2 to the Form 8-K. A copy of the Employment Agreement was filed as Exhibit 10.1 to the Company’s Quarterly Report on Form 10-Q for the period ending September 30, 2015 filed on November 13, 2015 and is also field herewith as Exhibit 10.2.

Background, Basis of Presenta12

Background, Basis of Presentation, and Going Concern (Tables)	9 Months Ended
	Sep. 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 ) Three Months Ended September 30, 2015 As Reported Revision As Revised Gain (loss) on change in fair value of derivative $ (10,461,536 ) $ 1,484,035 $ (8,977,501 ) Interest expense (526,378 ) (221,099 ) (747,477 ) Total other expense (10,987,914 ) 1,262,936 (9,724,978 ) Net loss (12,918,546 ) 1,262,936 (11,655,610 ) Net loss per share (basic and diluted) (0.26 ) (0.02 ) (0.24 ) Nine Months Ended September 30, 2015 As Reported Revision As Revised Gain (loss) on change in fair value of derivative $ (12,902,458 ) $ 1,484,035 $ (11,418,423 ) Interest expense (1,064,377 ) (221,099 ) (1,285,476 ) Total other expense (14,116,835 ) 1,262,936 (12,853,899 ) Net loss (19,065,163 ) 1,262,936 (17,802,227 ) Net loss per share (basic and diluted) (0.41 ) (0.03 ) (0.38 )
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 - - 8,990,943 Conversion option derivative liability - - 3,590,660 Total liabilities $ - $ - $ 12,581,603 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Beginning balance $ 9,307,216 $ 3,596,052 $ 18,207,333 $ 847,791 Change in fair value 3,274,387 8,977,501 (6,170,172 ) 11,418,423 Additions reclassified from equity - 5,743,021 - 5,819,389 Additions recognized as compensation expense - - 544,442 230,971 Ending balance $ 12,581,603 $ 18,316,574 $ 12,581,603 $ 18,316,574

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of warrants assumptions used	Nine Months Ended September 30, 2016 2015 Volatility 129-.70 % - 183.62% 113.46% - 141.78% Risk-free interest rate 0.44% - 1.78% 0.08% - 1.88% Expected term 2.25 - 10 years 0.25 - 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 September 30, 2016 50,000 0.50 9.2 Exercisable at September 30, 2016 10,000 $ 0.50 9.2
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 19,254,051 - Expired (110,000 ) - Exercised (12,577 ) - Outstanding as of September 30, 2016 59,157,905 $ 0.83 4.9 $ 60,709,026 Exercisable as of September 30, 2016 57,220,405 $ 0.83 4.9 $ 60,709,026

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Net Loss Per Share [Abstract]
Schedule of basic and diluted net loss per common share	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Net loss $ (5,768,652 ) $ (11,655,610 ) $ (6,227,809 ) $ (17,802,227 ) Basic weighted average common shares outstanding 58,973,457 49,488,166 57,103,514 46,759,780 Add incremental shares for: Stock options - - - - Diluted weighted average common shares outstanding 58,973,457 49,488,166 57,103,514 46,759,780 Net income loss per share: Basic and diluted $ (0.10 ) $ (0.24 ) $ (0.11 ) $ (0.38 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies [Abstract]
Schedule of future minimum lease payments	2016 $ 20,770 2017 84,233 2018 71,797 2019 - 2020 - Thereafter - Total $ 176,800

Background, Basis of Presenta16

Background, Basis of Presentation, and Going Concern (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Statement of Financial Position [Abstract]
Conversion option derivative liability	$ 3,590,660		$ 3,590,660		$ 5,411,187
Convertible debt, net of unamortized discounts	1,554,733		1,554,733		1,123,818
Total current liabilities	19,121,301		19,121,301		25,506,910
Total liabilities	19,121,301		19,121,301		25,506,910
Accumulated deficit	(207,732,287)		(207,732,287)		(201,504,478)
Additional paid in capital	188,751,460		188,751,460		176,108,887
Total stockholders' deficit	(18,974,908)		(18,974,908)		(25,390,443)
Gain (loss) on change in fair value of derivative	(3,274,387)	$ (8,977,501)	6,170,172	$ (11,418,423)
Interest expense	(760,050)	(747,477)	(3,639,364)	(1,285,476)
Total other expense	(4,034,437)	(9,724,978)	(1,226,177)	(12,853,899)
Net loss	$ (5,768,652)	$ (11,655,610)	$ (6,227,809)	$ (17,802,227)
Net loss per share (basic and diluted)	$ (0.10)	$ (0.24)	$ (0.11)	$ (0.38)
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					(204,989,355)
Additional paid in capital					176,932,064
Total stockholders' deficit					(28,052,143)
Gain (loss) on change in fair value of derivative		$ (10,461,536)		$ (12,902,458)
Interest expense		(526,378)		(1,064,377)
Total other expense		(10,987,914)		(14,116,835)
Net loss		$ (12,918,546)		$ (19,065,163)
Net loss per share (basic and diluted)		$ (0.26)		$ (0.41)
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
Gain (loss) on change in fair value of derivative		$ 1,484,035		$ 1,484,035
Interest expense		(221,099)		(221,099)
Total other expense		1,262,936		1,262,936
Net loss		$ 1,262,936		$ 1,262,936
Net loss per share (basic and diluted)		$ (0.02)		$ (0.03)

Background, Basis of Presenta17

Background, Basis of Presentation, and Going Concern (Details 1) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Liabilities
Warrant derivative liability	$ 8,990,943	$ 12,796,146
Conversion option derivative liability	3,590,660	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	8,990,943	12,796,146
Conversion option derivative liability	3,590,660	5,411,187
Total liabilities	$ 12,581,603	$ 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 9,307,216	$ 3,596,052	$ 18,207,333	$ 847,791
Change in fair value	3,274,387	8,977,501	(6,170,172)	11,418,423
Additions reclassified from equity		5,743,021		5,819,389
Additions recognized as compensation expense			544,442	230,971
Ending balance	$ 12,581,603	$ 18,316,574	$ 12,581,603	$ 18,316,574

Background, Basis of Presenta19

Background, Basis of Presentation, and Going Concern (Details Textual) - USD ($)	Sep. 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	$ 18,983,497
Accumulated deficit	$ (207,732,287)	$ (201,504,478)

Debt (Details)

Debt (Details) - USD ($)	Aug. 12, 2016	Jul. 13, 2016	May 12, 2016	Mar. 07, 2016	Jan. 06, 2016	Feb. 26, 2014	Jan. 25, 2016	Jan. 22, 2016	Jun. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Sep. 01, 2015
Debt (Textual)
Outstanding debt										$ 184,411				$ 184,411		$ 150,000
Amortization of debt discounts														2,225,077	$ 765,006
Outstanding balance of notes payable												$ 100,000
Loss on extinguishment of debt														(3,756,985)	(150,000)
Fair value of beneficial conversion feature														2,056,493	1,079,117
Advances to related parties																670,848
Proceeds from convertible notes														1,199,500	1,657,500
Advances from related party														1,375,000	300,000
Repayments to related party														150,000
Chief Financial Officer [Member]
Debt (Textual)
Accounts payable related parties										$ 1,420				$ 1,420		62,469
Warrant [Member]
Debt (Textual)
Exercise price of warrants																	$ 1
Promissory note [Member]
Debt (Textual)
Minimum interest rate										0.50%				0.50%
Promissory notes issued														$ 300,000		$ 50,000
Term of note														1 year		120 days
Warrants issued for conversion of notes														600,000		100,000
Strike price										$ 0.50				$ 0.50		$ 0.5
Fair value of warrants issued														$ 235,188		$ 45,243
Amortization of debt discounts										$ 19,599				19,599		45,243
Outstanding balance of notes payable										$ 400,000				$ 400,000		150,000
Loss on extinguishment of debt																44,044
Interest rate effective percentage										10.00%				10.00%
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 instrument						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		$ 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										350,000				350,000		$ 110,000
Advances from related party										0				510,000
Repayments to related party										$ 100,000				$ 270,000
Convertible Notes Payable [Member]
Debt (Textual)
Minimum interest rate		8.00%	8.00%	8.00%						8.00%				8.00%
Term of note		1 year								1 year
Warrants issued for conversion of notes	500,000	500,000		80,000					375,000	244,500
Fair value of warrants issued	$ 117,377	$ 161,010
Amortization of debt discounts														$ 2,030,827	$ 626,187
Description of debt instrument		The convertible note has a principal amount of $500,000, includes the issuance of 500,000 additional warrants, interest of 8% per annum, a maturity date of one year and is convertible into 1,000,000 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.
Accrued interest									$ 21,372	$ 39,718	$ 21,372	$ 790		$ 39,718
Debt discount		$ 278,386		$ 38,205					$ 158,423	$ 102,835
Warrants issued to purchase common stock										1,072,390	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														$ 625,856		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		$ 123,233								$ 131,510	$ 56,197	$ 3,787
Additional warrant expense		98,381	$ 12,415	19,505					100,449	62,992
Fair value of warrants issued			50,000
Conversion of debt instrument, value		$ 500,000								$ 469,477	$ 267,144	$ 30,000
Conversion of debt instrument, shares		1,000,000								1,072,390	577,031
Notes payable to related parties										$ 2,000,000				2,000,000
Proceeds from convertible notes				80,000					$ 375,000	244,500
Convertible notes payable				$ 80,000						1,339,144				1,339,144		$ 1,123,818
Conversion of units, shares				160,000					750,000
Maturity date, description				One year					One year
Fair value of the derivative liability										$ 3,590,660				3,590,660
Fair value of warrants issued with debt				80,000						244,500
Conversion price			$ 0.50
Term of warrants			5 years
Exercise price			$ 0.50							$ 0.50
Beneficial conversion feature recognized as additional paid in capital			$ 37,584							$ 78,673
Convertible note		$ 500,000								244,500				244,500
Additonal issuance of warrants		500,000
Convertible Debt [Member]
Debt (Textual)
Fair value of the derivative liability										$ 3,590,660				3,590,660
Recognized gain on derivative														$ 1,820,527

Equity (Details)

Equity (Details) - Stock Options [Member] - $ / shares	9 Months Ended	12 Months Ended
	Sep. 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	10,000
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 2 months 12 days	10 years
Weighted Average Remaining Contractual Life (years), Exercisable	9 years 2 months 12 days

Equity (Details 1)

Equity (Details 1) - Warrants [Member] - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Number of Shares
Number of Shares, Outstanding Beginning Balance	40,026,431
Number of Shares, Granted	19,254,051
Number of Shares, Expired	(110,000)
Number of Shares, Exercised	(12,577)
Number of Shares, Outstanding Ending Balance	59,157,905	40,026,431
Number of Shares, Exercisable	57,220,405
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	0.83	$ 1.83
Weighted Average Exercise Price, Exercisable	$ 0.83
Weighted Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Term (in years), Outstanding	4 years 10 months 24 days	4 years 7 months 6 days
Weighted Average Remaining Contractual Term (in years), Exercisable	4 years 10 months 24 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding Beginning Balance	$ 54,932,218
Aggregate Intrinsic Value, Outstanding Ending Balance	60,709,026	$ 54,932,218
Aggregate Intrinsic Value, Exercisable	$ 60,709,026

Equity (Details 2)

Equity (Details 2) - Warrant [Member]	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	129.70%	113.46%
Risk-free interest rate	0.44%	0.08%
Expected term	2 years 3 months	3 months
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	183.62%	141.78%
Risk-free interest rate	1.78%	1.88%
Expected term	10 years	5 years

Equity (Details Textual)

Equity (Details Textual) - USD ($)	Sep. 23, 2016	May 13, 2016	Nov. 04, 2015	Sep. 01, 2015	Apr. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2015	Jun. 30, 2016	Sep. 30, 2016	Sep. 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						$ (3,274,387)			$ (8,977,501)		$ 6,170,172	$ (11,418,423)
Derivative liability						8,990,943					8,990,943		12,796,146
Shares issued							12,577			12,577
Proceeds from exchange of common stock							$ 6,288				466,451
Loss on extinguishment of liability											(3,756,985)	(150,000)
Common stock price per share							$ 0.50			$ 0.50
Warrants issued for interest expense											$ 6,023
Common Stock [Member]
Equity (Textual)
Shares issued						54,278	1,007,535	372,263		1,007,535	54,278
Warrants to purchase common stock						205,050	3,031,050	1,140,662		3,031,050	205,050
Proceeds from exchange of common stock					$ 40,062	$ 25,129	$ 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
Warrants issued for interest expense						6,023
Stock Options [Member]
Equity (Textual)
Stock option awards expenses						4,164			$ 0		$ 12,489	$ 0
Future stock compensation expense											$ 56,448
Weighted average remaining vesting period											3 years 4 months 24 days
Stock option outstanding intrinsic value						13,495					$ 13,495
Warrants one [Member]
Equity (Textual)
Stock option awards expenses											1,277,699
Stock option outstanding intrinsic value						$ 60,709,026					60,709,026		$ 54,932,218
Fair value of derivative liability of warrants											8,990,943
Fair value of warrants issued	$ 13,618										1,195,985
Gain (loss) on change in fair value of derivative											$ 4,349,645
Shares issued	1
Warrants to purchase common stock	15,000		2,400,000
Exercise price of warrants						$ 0.50					$ 0.50
Number of warrant shares vested			1,200,000
Warrant expense						$ 265,787					$ 915,489
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	$ 13,618					373,008					604,187
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											500,539
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						$ 92,842					$ 517,958
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 total $199,905 as of September 30, 2016 using the Black-Scholes option pricing model of which $155,554 was recognized as expense during the three and nine months ended September 30, 2016.

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Net Loss Per Share [Abstract]
Net loss	$ (5,768,652)	$ (11,655,610)	$ (6,227,809)	$ (17,802,227)
Basic weighted average common shares outstanding	58,973,457	49,488,166	57,103,514	46,759,780
Add incremental shares for:
Stock options
Diluted weighted average common shares outstanding	58,973,457	49,488,166	57,103,514	46,759,780
Net income loss per share:
Basic and diluted	$ (0.10)	$ (0.24)	$ (0.11)	$ (0.38)

Commitments and Contingencies26

Commitments and Contingencies (Details)	Sep. 30, 2016USD ($)
Schedule of future minimum lease payments
2,016	$ 20,770
2,017	84,233
2,018	71,797
2,019
2,020
Thereafter
Total	$ 176,800

Commitments and Contingencies27

Commitments and Contingencies (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Mar. 30, 2015	Sep. 24, 2013
Commitments and Contingencies (Textual)
Rent expense	$ 21,039	$ 22,807	$ 64,375	$ 70,701
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 ($)	Oct. 07, 2016	Oct. 03, 2016	Oct. 31, 2016	Oct. 21, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 01, 2015
Subsequent Events (Textual)
Proceeds from convertible notes					$ 1,199,500	$ 1,657,500
Warrant [Member]
Subsequent Events (Textual)
Exercise price of warrants							$ 1
Subsequent Events [Member]
Subsequent Events (Textual)
Stock option vested		1,000
Stock options granted		50,000
Stock option expiration term		5 years
Subsequent Events [Member] | Convertible Promissory Note [Member]
Subsequent Events (Textual)
Warrants issued to purchase			25,000
Term of note			5 years
Exercise price of warrants			$ 0.50
Proceeds from convertible notes			$ 25,000
Gross proceeds form common stock			$ 25,000
Conversion of common stock, shares issued			122,400
Subsequent Events [Member] | Allen Amendment [Member]
Subsequent Events (Textual)
Proceeds from sale of securities				$ 6,000,000
Cash compensation				$ 15,000
Subsequent Events [Member] | Ledger Amendment [Member]
Subsequent Events (Textual)
Sale of securities, description				The Ledger Amendment added in a clause stating that if the Company raises not less than $6,000,000 in funds from sales of its securities subsequent to the Ledger Amendment, then Mr. Ledger's base salary would increase from $210,000 to $240,000 and reduced Mr. Ledger's severance upon the termination of Mr. Ledger in connection with a change of control transaction to six months. A copy of the Ledger Amendment was filed as Exhibit 10.1 to the Form 8-K. In the first amendment to the Employment Agreement dated May 8, 2015, Mr. Ledger agreed to a salary reduction of his base salary from $300,000 to $210,000.
Subsequent Events [Member] | Tobin Amendment [Member]
Subsequent Events (Textual)
Sale of securities, description				The Tobin Amendment added in a clause stating that if the Company raises not less than $6,000,000 in funds from sales of its securities subsequent to the Tobin Amendment, then Mr. Tobin's base salary would increase from $190,000 to $225,000 and added a termination for "Good Reason" clause, as well as a six month severance upon the termination of Mr. Tobin.
Subsequent Events [Member] | Warrant [Member]
Subsequent Events (Textual)
Warrants issued to purchase			122,400
Term of note			5 years
Exercise price of warrants			$ 0.50
Subsequent Events [Member] | Note Purchase Agreement [Member]
Subsequent Events (Textual)
Payments to acquire promissory note	$ 100,000
Warrants issued to purchase	200,000
Term of note	5 years
Exercise price of warrants	$ 0.50
Description of debt instrument	The Note automatically converted by its terms on November 7, 2016, 30 days after issuance into an investment in the principal amount of the note in the Company’s convertible notes and warrants.
Conversion price	$ 0.50
Subsequent Events [Member] | Note Purchase Agreement [Member] | One Year Promissory Note [Member]
Subsequent Events (Textual)
Warrants issued to purchase	100,000
Term of note	5 years
Exercise price of warrants	$ 0.50
Conversion of debt instrument, value	$ 100,000