NanoFlex Power (OPVS) 10-Q 10 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	May 08, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	NanoFlex Power Corp
Entity Central Index Key	1,571,636
Amendment Flag	false
Document Type	10-Q
Document Period End Date	Mar. 31, 2017
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Entity Filer Category	Smaller Reporting Company
Trading Symbol	OPVS
Entity Common Stock, Shares Outstanding		62,873,521

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Current assets:
Cash	$ 128,952	$ 2,986
Prepaid expenses and other current assets	16,785	20,105
Total current assets	145,737	23,091
Property and equipment, net	7,823	6,942
Total assets	153,560	30,033
Current liabilities:
Accounts payable	3,157,023	3,388,189
Accounts payable- related party		2,470
Accrued expenses	1,159,352	1,200,544
Warrant derivative liability	5,640,376	8,828,405
Conversion option derivative liability	1,863,029	3,156,736
Short-term debt, net of unamortized discounts	302,005	243,208
Short-term debt- related party, net of unamortized discounts	1,000,000	500,000
Convertible debt, net of unamortized discounts	1,575,786	1,440,206
Advances - related party	480,000	510,000
Total current liabilities	15,177,571	19,269,758
Total liabilities	15,177,571	19,269,758
Stockholders' deficit:
Common stock, 500,000,000 authorized, $0.0001 par value, 61,471,521 and 60,263,720 issued and outstanding as of March 31, 2017 and December 31, 2016, respectively	6,147	6,026
Additional paid-in capital	190,960,905	189,324,088
Accumulated deficit	(205,991,063)	(208,569,839)
Total stockholders' deficit	(15,024,011)	(19,239,725)
Total liabilities and stockholders' deficit	$ 153,560	$ 30,033

Consolidated Balance Sheets (U3

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2017	Dec. 31, 2016
Consolidated Balance Sheets [Abstract]
Common stock, shares authorized	500,000,000	500,000,000
Common stock, par value per share	$ 0.0001	$ 0.0001
Common stock, shares issued	61,471,521	60,263,720
Common stock, shares outstanding	61,471,521	60,263,720

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statements of Operations [Abstract]
Revenue	$ 1,700
Cost of services	(38,002)	(153,476)
Gross loss	(36,302)	(153,476)
Operating expenses:
Research and development	189,161	267,526
Patent application and prosecution fees	363,603	349,742
Selling, general and administrative expenses	650,781	688,976
Total operating expenses	1,203,545	1,306,244
Loss from operations	(1,239,847)	(1,459,720)
Other income (expenses):
Gain on change in fair value of derivative	4,481,736	8,258,978
Loss on extinguishment of debt		(3,632,942)
Loss on settlement of accrued interest	(33,600)
Interest expense	(629,513)	(2,519,285)
Total other income	3,818,623	2,106,751
Net Income	$ 2,578,776	$ 647,031
Net Income per common share:
Basic	$ 0.04	$ 0.01
Diluted	$ (0.02)	$ (0.09)
Weighted average common shares outstanding:
Basic	60,685,049	54,824,864
Diluted	76,202,016	81,673,966

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net Income	$ 2,578,776	$ 647,031
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	1,556	1,715
Warrants issued as compensation	186,086	435,136
Options issued as compensation	6,720	4,163
Interest expense of warrants related to conversion of debt	72,591	903,052
Amortization of debt discounts	465,768	1,425,992
Loss on extinguishment of debt		3,632,942
Loss on settlement of accrued interest	33,600
Gain on change in fair value of derivative liabilities	(4,481,736)	(8,258,978)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	3,320	(2,728)
Accounts receivable		95,623
Accounts payable	(231,166)	(4,330)
Accounts payable - related party	(2,470)	(62,469)
Accrued expenses	131,608	(382,190)
Net cash used in operating activities	(1,235,347)	(1,565,041)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of fixed assets	(2,437)
Net cash used in investing activities	(2,437)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from sale of common shares and warrants	50,000	132,280
Subscription proceeds received for common stock and warrants to be issued	193,750
Borrowings on related party debt	500,000	1,375,000
Payments on related party debt		(150,000)
Borrowings on convertible debt	650,000	80,000
Advances received from related party	10,000	310,000
Advances repaid to related party	(40,000)	(120,000)
Net cash provided by financing activities	1,363,750	1,627,280
NET INCREASE IN CASH	125,966	62,239
Cash, beginning of the period	2,986	6,255
Cash, end of the period	128,952	68,494
SUPPLEMENTAL CASH FLOW INFORMATION
Cash paid for interest	9,670	509
Cash paid for income taxes
NON-CASH INVESTING AND FINANCING ACTIVITIES
Principal and interest converted into common stock	388,300	2,190,790
Common stock and warrants issued for accrued interest	168,000
Common stock and warrants issued for receivable		40,062
Common stock and warrants issued for extinguishment of liabilities		67,536
Promissory note modified to be convertible note		2,000,000
Debt discount on beneficial conversion feature and warrants issued with convertible debt	$ 537,891	$ 2,157,408

Background, Basis of Presentati

Background, Basis of Presentation, and Going Concern	3 Months Ended
	Mar. 31, 2017
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 photovoltaic technologies that enable thin film solar products with what we believe to be industry-leading efficiencies, light weight, flexibility, and low total system cost. These technologies are targeted at certain broad applications, including: (a) portable and off-grid 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 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, 2016 included in our Annual Report on Form 10-K. The results of operations for the three months ended March 31, 2017 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 year ended December 31, 2016. Therefore, the Company revised its previously-issued financial statements as of December 31, 2015 and for the first quarter of fiscal 2016. The consolidated statement of operations for the three months ended March 31, 2016 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 statement of operations for the three months ended March 31, 2016: Three Months Ended March 31, 2016 As Reported Revision As Revised Gain on change in fair value of derivative $ 3,125,584 $ 5,133,394 $ 8,258,978 Interest expense (2,539,348 ) 20,063 (2,519,285 ) Total other expense (3,046,706 ) 5,153,457 2,106,751 Net income (loss) (4,506,426 ) 5,153,457 647,031 Net income (loss) per share - basic (0.08 ) 0.09 0.01 Net income (loss) per share - diluted (0.08 ) ( 0.01 ) (0.09) These revisions to the consolidated statements of cash flows for the three months ended March 31, 2016 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 $15,031,834 and an accumulated deficit of $205,991,063 as of March 31, 2017. The ability of the Company to continue as a going concern is dependent on raising capital to fund ongoing operations and carry out its business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. To date, the Company has funded its initial operations primarily by way of the sale of equity securities, convertible note financing, short term financing from private parties, and advances from related parties. Fair Value ASC 820 Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value and enhances disclosures about fair value measurements. It defines fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value: Level 1: Observable inputs such as quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices that are observable for the asset or liability, either directly or indirectly. These include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities that are not active; and model-driven valuations whose inputs are observable or whose significant value drivers are observable. Valuations may be obtained from, or corroborated by, third-party pricing services. Level 3: Unobservable inputs to measure fair value of assets and liabilities for which there is little, if any market activity at the measurement date, using reasonable inputs and assumptions based upon the best information at the time, to the extent that inputs are available without undue cost and effort. As of March 31, 2017 the significant inputs to the Company’s derivative liability calculation were Level 3 inputs. The following schedule summarizes the valuation of financial instruments at fair value in the balance sheets as of March 31, 2017 and December 31, 2016: Fair Value Measurements as of Level 1 Level 2 Level 3 Assets None $ $ $ Total assets - - - Liabilities Warrant derivative liability - - 5,640,376 Conversion option derivative liability - - 1,863,029 Total liabilities - - 7,503,405 Fair Value Measurements as of Level 1 Level 2 Level 3 Assets None $ $ $ Total assets - - - Liabilities Warrant derivative liability - - 8,828,405 Conversion option derivative liability - - 3,156,736 Total liabilities - - 11,985,141 The following table sets forth a reconciliation of changes in the fair value of financial assets and liabilities classified as Level 3 in the fair value hierarchy: Significant Unobservable Inputs (Level 3) Three Months Ended 2017 2016 Beginning balance $ 11,985,141 $ 18,207,333 Change in fair value (4,481,736 ) (8,258,978 ) Ending balance $ 7,503,405 $ 9,948,355 Recent Accounting Pronouncements In September 2015, the FASB issued ASU No. 2015-16, “Simplifying the Accounting for Measurement-Period Adjustments”. In November 2015, the FASB issued ASU 2015-17, “Income Taxes (Topic 470): Balance Sheet Classification of Deferred Taxes”. In January 2016, the FASB issued ASU No. 2016-01, “Financial Instruments – Overall (Subtopic 825-10), Recognition and Measurement of Financial Assets and Financial Liabilities”, In February, 2016, the FASB issued ASU No. 2016-02 ,” Leases” (Topic 842) Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting In April 2016, the FASB issued ASU No. 2016-10, “ Revenue from Contracts with Customers (Topic 606): Identifying Performance Obligations and Licensing In May 2016, the FASB issued ASU No. 2016-12, “ Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients In August 2016, the FASB issued ASU No. 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments”. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows (Topic 230): Restricted Cash” In January, 2017, the FASB issued ASU No. 2017-01, “ Business Combinations (Topic 805): Clarifying the Definition of a Business”, In January 2017, the Financial Accounting Standards Board FASB issued ASU 2017-04, “ Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment”.

Debt

Debt	3 Months Ended
	Mar. 31, 2017
Debt [Abstract]
DEBT	2. DEBT Notes Payable The Company has a note payable of $100,000 due to its former Chief Executive Officer and President. The note is due on demand and bears an interest rate at the minimum applicable rate for loans of similar duration, which was 0.5% as of March 31, 2017. On August 31, 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 $58,797 associated with the amortization of debt discount for the three months ended March 31, 2017. As of March 31, 2017 and December 31, 2016, the aggregate outstanding balance of non-convertible notes payable was $400,000, and unamortized discount was $97,995 and $156,792, respectively. Notes Payable – Related Party On January 27, 2017, the Company borrowed $380,000 under a short term note agreement with a majority shareholder. Under the terms of this agreement, the note is to be repaid within four months of funding along with $19,000 paid at the maturity of the note in lieu of interest. On March 6, 2017, the Company borrowed $120,000 under a short term note agreement with a majority shareholder. Under the terms of this agreement, the note is to be repaid within four months of funding along with $6,000 paid at the maturity of the note in lieu of interest. As of March 31, 2017 and December 31, 2016, the aggregate outstanding balance of notes payable to related parties was $1,000,000 and $500,000, respectively. Advances – Related Party During the three months ended March 31, 2017, the Company received advances from its Chief Executive Officer totaling $10,000, and repaid advances totaling $40,000. As of March 31, 2017 and December 31, 2016, the aggregate outstanding balance of advances to related parties was $480,000 and $510,000, respectively. Convertible Notes Payable On January 27, 2017, 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 $200,000 and a warrant to purchase 400,000 shares of the company’s common stock with a $0.50 exercise price and 5 year term. The promissory note had a clause that automatically modified it 30 days after issuance into a convertible note. The convertible note was issued on February 27, 2017, pursuant to the agreement, with a principal amount of $200,000, includes the issuance of 200,000 additional warrants, interest of 8% per annum, a maturity date of one year and is convertible into 400,000 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 600,000 warrants was $125,931 which was recognized as a discount to the debt. This note also gave rise to a beneficial conversion feature of $38,655 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 $35,414 associated with the warrants that are to be issued upon conversion, which is to be recognized only upon conversion. On March 8, 2017, 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 $200,000 and a warrant to purchase 400,000 shares of the company’s common stock with a $0.50 exercise price and 5 year term. The promissory note had a clause that automatically modified it 30 days after issuance into a convertible note. The convertible note was issued on April 8, 2017, pursuant to the agreement, with a principal amount of $200,000, includes the issuance of 200,000 additional warrants, interest of 8% per annum, a maturity date of one year and is convertible into 400,000 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 600,000 warrants was $130,207 which was recognized as a discount to the debt. This note also gave rise to a beneficial conversion feature of $36,196 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 $33,596 associated with the warrants that are to be issued upon conversion, which is to be recognized only upon conversion. On March 9, 2017, the Company entered into note purchase agreements with an investor, pursuant to which an investor purchased a promissory note from the Company in exchange for $150,000, respectively, and a warrant to purchase 300,000 shares of the company’s common stock, respectively, with a $0.50 exercise price and 5 year term. The promissory note had a clause that automatically modified it 30 days after issuance into a convertible note. The convertible note was issued on April 9, 2017, pursuant to the agreement, with a principal amount of $150,000, includes the issuance of 150,000 additional warrants, interest of 8% per annum, a maturity date of one year and is convertible into 300,000 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 450,000 warrants was $96,019 which was recognized as a discount to the debt. This note also gave rise to a beneficial conversion feature of $28,018 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 $25,963 associated with the warrants that are to be issued upon conversion, which is to be recognized only upon conversion. On March 12, 2017, the Company entered into note purchase agreements with two investors, pursuant to which investors purchased a promissory note from the Company in exchange for $100,000 and a warrant to purchase 200,000 shares of the company’s common stock, respectively, with a $0.50 exercise price and 5 year term. The promissory note had a clause that automatically modified it 30 days after issuance into a convertible note. The convertible note was issued on April 12, 2017, pursuant to the agreement with a principal amount of $100,000, includes the issuance of 100,000 additional warrants, interest of 8% per annum, a maturity date of one year and is convertible into 200,000 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 300,000 warrants was $64,386 which was recognized as a discount to the debt. This note also gave rise to a beneficial conversion feature of $18,479 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 $17,135 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, 2017, the full principal balances of certain notes totaling $383,500 with accrued interest of $4,800 were converted pursuant to the terms of the notes into 771,800 shares of the Company’s common stock and 771,800 warrants to purchase common stock. Upon conversion, the Company accelerated the recognition of all remaining debt discount and also recognized additional interest expense of $72,591 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 three months ended March 31, 2017 and 2016 was $406,971 and $191,598, respectively. As of March 31, 2017 and December 31, 2016, the aggregate outstanding balance of convertible notes payable was $1,575,786 and $1,440,206, respectively, net of unamortized discounts of $474,214 and $343,294. Derivative Liabilities - Convertible Notes As of March 31, 2017, the fair value of the outstanding convertible note derivatives was determined to be $1,863,029 and recognized a gain of $1,293,707. There were no new convertible note derivatives that arose during the three months ended March 31, 2017. Accounts Payable - Related Party As of March 31, 2017 and December 31, 2016, there is $0 and $2,470, respectively, due to a related party, the Company’s Chief Financial Officer, which is non-interest bearing and due on demand.

Equity

Equity	3 Months Ended
	Mar. 31, 2017
Equity [Abstract]
EQUITY	3. EQUITY Common Stock On February 13, 2017, the Company issued 336,000 shares of the Company’s common stock to certain note holders in exchange for accrued interest of $168,000. The fair value of the common stock was determined to be $201,600 and resulted in a loss on settlement of accrued interest of $33,600. During the three months ended March 31, 2017, the Company sold an aggregate of 487,500 units, at $0.50 per unit for aggregate proceeds $243,750. Each unit consisted of one common share and one warrant. Each warrant is exercisable for a period of five years from the date of issuance, at $0.50 per share. 100,000 units were issued during the three months ended March 31, 2017. The other 387,500 were issued subsequent to the end of the quarter. During the three months ended March 31, 2017, the Company issued an aggregate of 771,800 shares of its common stock related to the conversion of $383,500 of principal and $4,800 accrued interest expense on convertible notes. Stock Options A summary of stock option activity during the three months ended March 31, 2017 is as follows: Weighted Weighted Average Average Remaining Number of Exercise Contractual Shares Price Life (years) Outstanding at December 31, 2016 100,000 0.77 9.4 Granted - - Exercised - - Forfeited - - Outstanding at March 31, 2017 100,000 0.77 9.1 Exercisable at March 31, 2017 22,000 $ 0.64 8.9 Stock option awards are expensed on a straight-line basis over the requisite service period. During the three months ended March 31, 2017 and 2016 the Company recognized expense of $6,720, and $4,163, respectively, associated with stock option awards. At March 31, 2017, future stock compensation expense (net of estimated forfeitures) not yet recognized was $85,883 and will be recognized over a weighted average remaining vesting period of 3.2 years. The intrinsic value of the Company’s stock options outstanding was $6,000 at March 31, 2017. 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 $147,659 and $324,851 was recognized during the three months ended March 31, 2017 and 2016, respectively. The agreement contains an anti-dilution provision and therefore the exercise price at March 31, 2017 is $0.50 per share. On February 1, 2017, the Company issued warrants to purchase 30,000 shares of its Common Stock to a service provider in exchange for services provided to the Company. 5,000 of the warrants vested February 28, 2017, and 5,000 warrants shall vest on the last date of each month following February 2017, until final vesting on July 31, 2107. As of the date of this report, 10,000 of the warrants have vested. The warrants have an exercise price of $0.50 and a 5 year term. The fair value of the warrants was determined to be $18,153 using the Black-Scholes option pricing model of which $6,051 was recognized as expense during the three months ended March 31, 2017. On March 6, 2017, the Company issued warrants to purchase 200,000 shares of its common stock at $0.50 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 $120,501 using the Black-Scholes option pricing model of which $120,501 was recognized as expense during the three months ended March 31, 2017. During the three months ended March 31, 2017, the aggregate principal and interest of certain convertible notes totaling $388,300 were converted pursuant to the terms of the notes into 771,800 shares of the Company’s common stock and 771,800 warrants to purchase common stock. See details in Note 2. The following summarizes the warrant activity for the three months ended March 31, 2017: Weighted Average Weighted Remaining Average Contractual Aggregate Number of Exercise Term Intrinsic Shares Price (in years) Value Outstanding as of December 31, 2016 60,380,521 $ 0.73 $ 4.6 $ 57,361,495 Granted 2,601,800 0.50 Expired (12,500 ) 2.42 Exercised - - Outstanding as of March 31, 2017 62,969,821 $ 0.67 $ 4.4 $ 7,150,781 Exercisable as of March 31, 2017 61,119,821 $ 0.69 $ 4.4 $ 6,678,781 Derivative Liabilities - Warrants The anti-dilution features in the freestanding warrants issued in the three months ended March 31, 2017 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 $8,828,405 at December 31, 2016. The Company recorded the change in the fair value of the warrant liabilities recognizing a gain of $3,188,029 for the three months ended March 31, 2017, to reflect the value of the warrant derivative liability of $5,640,376 as of March 31, 2017. 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 November 4, 2016, and an additional 600,000 Warrant Shares will vest on November 4, 2017. 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 valued of the 600,000 Warrant Shares that vested November 4, 2016 was determined to be $559,900 and was recognized as expense during the year ended December 31, 2016. The fair value of the remaining tranche of 600,000 Warrant Shares was determined to total $1,079,740 as of March 31, 2017 using the Black-Scholes option pricing model of which $68,412 of expense was recaptured during the three months ended March 31, 2017 and $110,285 was recognized as expense during the three months ended March 31, 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 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 year ended December 31, 2016. The fair value of the two tranches of 250,000 Warrant Shares was determined to total $300,799 as of March 31, 2017 using the Black-Scholes option pricing model of which $19,713 of expense was recaptured during the three months ended March 31, 2017. 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 $120,320 as of March 31, 2017 using the Black-Scholes option pricing model of which $155,554 was recognized as expense during the year ended December 31, 2016. The warrants were valued using the Black-Scholes pricing model with the following assumptions: Three Months Ended 2017 2016 Volatility 129-.70 % - 208.72% 129.70% - 132.58% Risk-free interest rate 1.27% - 2.40% 0.87% - 1.78% Expected term 2 - 9 years 3 - 10 years

Net Loss Per Share

Net Loss Per Share	3 Months Ended
	Mar. 31, 2017
Net Loss Per Share [Abstract]
NET LOSS PER SHARE	4. NET LOSS PER SHARE Three Months Ended 2017 2016 Net income $ 2,578,776 $ 647,031 Less: decrease in fair value of warrants, net of income tax (2,902,756 ) (5,820,713 ) Less: decrease in fair value of convertible debt, net of income tax (1,293,707 ) (2,438,221 ) Less: interest expense - convertible debt (47,710 ) (29,453 ) Income (loss) available to common stockholders (1,665,397 ) (7,641,356 ) Basic weighted average common shares outstanding 60,685,049 54,824,864 Plus: incremental shares from assumed exercise- warrants 11,016,303 23,518,370 Plus: incremental shares from assumed conversion- convertible debt 4,100,000 2,873,954 Plus: incremental shares from assumed conversion-units 400,663 456,778 Adjusted weighted average common shares outstanding 76,202,016 81,673,966 Net income per share: Basic $ 0.04 $ 0.01 Diluted $ (0.02 ) $ (0.09 )

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
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 months ended March 31, 2017 and 2016 was $29,194 and $21,832, respectively. Future minimum lease payments are as follows: 2017 $ 63,271 2018 71,797 2019 - 2020 - 2021 - Thereafter - Total $ 135,068 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. The parties have exchanged document demands and are currently engaged in discovery. Other than the foregoing, there have been no developments in the case since Plaintiff’s response. 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	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	6. SUBSEQUENT EVENTS On April 1, 2017, 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 over a 50 month period. The options expire in 2027. In April of 2017, the Company sold an aggregate of 115,000 units, at $0.50 per unit for aggregate proceeds of $57,000. Each unit consisted of one common share and one warrant. Each warrant is exercisable for a period of five years from the date of issuance, at $0.50 per share. In April of 2017, the Company issued 387,000 units, at $0.50 per unit for proceeds of $193,500 which was received during the quarter ended March 31, 2017 On April 12, 2017, the Company issued warrants to purchase 100,000 shares of its common stock at $0.50 per share to a consultant in exchange for services already performed. The warrants have a five year term and are immediately vested. On April 12, 2017, the aggregate principal and interest of certain convertible notes totaling $450,000 were converted pursuant to the terms of the notes into 900,000 shares of the Company’s common stock and 900,000 warrants to purchase common stock. On April 12, 2017, the Company reduced the exercise price of a certain warrant, with 50,226 shares of the Company’s common stock issuable upon exercise of such warrant, to $.50 and added a cashless exercise feature to such warrant. On April 24, 2017, the Company entered into a Securities Purchase Agreement with Power Up Lending Group Ltd. (“Power Up”) pursuant to which Power Up purchased a convertible promissory note evidencing a loan of $58,500. On April 25, 2017, the Company issued Power Up a $58,500 convertible promissory note. This note entitles the holder to 12% interest per annum and matures on February 10, 2018. Power Up may convert the note into common stock beginning on the date which is 180 days from the issuance date of the note, at a price equal to 61% of the average of the lowest two trading prices during the 15 trading day period ending on the last complete trading date prior to the date of conversion, provided, however, that Power Up may not convert the note to the extent that such conversion would result in Power Up’s beneficial ownership being in excess of 4.99% of the Company’s issued and outstanding common stock together with all shares owned by Power Up and its affiliates. If the Company prepays the note within 30 days of its issuance, the Company must pay all of the principal at a cash redemption premium of 110%; if such prepayment is made between the 31 st th st st th st st st On April 25, 2017, the Company borrowed $115,000 from JSJ Investments, Inc. (“JSJ”) and issued to JSJ a $115,000 convertible promissory note with a maturity date of January 25, 2018. The interest under the note is 12% and the default interest under the note is 18%. JSJ is entitled, at its option, at any time after the issuance of the note, to convert all or a portion of the outstanding principal amount and accrued but unpaid interest into Company common stock at a conversion price for each share of common stock equal to a price which is a 40% discount to the lowest trading price during the 20 days prior to the day that JSJ requests conversion. JSJ may not convert the Note to the extent that such conversion would result in JSJ’s beneficial ownership being in excess of 4.99% of the Company’s issued and outstanding common stock together with all shares owned by JSJ and its affiliates. If the Company prepays the note within 60 days of its issuance, the Company must pay all of the principal at a cash redemption premium of 110%; if such prepayment is made from the 61 st st th On April 28, 2017, the Company entered into a Securities Purchase Agreement with Silo Equity Partners Venture Fund, LLC (“Silo”) pursuant to which Silo purchased a convertible promissory note evidencing a loan of $100,000. On April 27, 2017, the Company issued Silo a $100,000 convertible promissory note evidencing the loan. This note entitles the holder to 8% interest per annum and matures on April 24, 2018. The default interest under this note is 24%. Silo may convert the note into common stock beginning on the date which is 180 days from the issuance date of the note, at a price equal to 55% of the lowest two trading prices during the 20 trading day period ending on the last complete trading date prior to the date of conversion, provided, however, that Silo may not convert the note to the extent that such conversion would result in Silo’s beneficial ownership being in excess of 4.99% of the Company’s issued and outstanding common stock together with all shares owned by Silo and its affiliates. If the Company prepays the note within 60 days of its issuance, the Company must pay all of the principal at a cash redemption premium of 120%; if such prepayment is made between the 61 st st nd st On May 3, 2017, the Company reduced the exercise price of a certain warrant, with 20,000 shares of the Company’s common stock issuable upon exercise of such warrant, to $.50 and added a cashless exercise feature to such warrant. On May 1, 2017 and on May 3, 2017, the Company, by board consent, reduced the exercise price of a total of 690,518 warrants, to $.50 and added a cashless exercise feature to such warrants. On May 4, 2017, the Company agreed to borrow up to $500,000 from JMJ Financial (“JMJ”) and issued to JMJ a convertible promissory note of up to $500,000, evidencing the loan with a maturity date of May 4, 2018. The amount of the promissory note funded by JMJ as of the date of this report is $330,000. This note has a $25,000 original issue discount. Further, the principal sum due to JMJ under this note is to be based on the consideration actually paid by JMJ with an approximate 5% original issue discount that is based on the consideration actually paid by JMJ together with any applicable fees, as of the date of this report, the principal sum due under this note is $330,000. The interest under the note is a one-time interest charge of 10% which shall be applied to the principal sum of the note. JMJ is entitled, at its option, at any time after the issuance of the note, to convert all or a portion of the outstanding principal amount and accrued but unpaid interest into Company common stock at a conversion price for each share of common stock equal to a price which the lesser of $0.52 or 60% of the lowest trade price in the 25 trading days previous to the conversion. JMJ may not convert the note to the extent that such conversion would result in JMJ’s beneficial ownership being in excess of 4.99% of the Company’s issued and outstanding common stock together with all shares owned by JMJ and its affiliates. If the Company prepays the note within 90 days of its issuance, the Company must pay all of the principal at a cash redemption premium of 120%; if such prepayment is made from the 91 st th st

Background, Basis of Presenta12

Background, Basis of Presentation, and Going Concern (Tables)	3 Months Ended
	Mar. 31, 2017
Background, Basis of Presentation, and Going Concern [Abstract]
Schedule of consolidated statement of operations for errors correction	Three Months Ended March 31, 2016 As Reported Revision As Revised Gain on change in fair value of derivative $ 3,125,584 $ 5,133,394 $ 8,258,978 Interest expense (2,539,348 ) 20,063 (2,519,285 ) Total other expense (3,046,706 ) 5,153,457 2,106,751 Net income (loss) (4,506,426 ) 5,153,457 647,031 Net income (loss) per share - basic (0.08 ) 0.09 0.01 Net income (loss) per share - diluted (0.08 ) ( 0.01 ) (0.09)
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 - - 5,640,376 Conversion option derivative liability - - 1,863,029 Total liabilities - - 7,503,405 Fair Value Measurements as of Level 1 Level 2 Level 3 Assets None $ $ $ Total assets - - - Liabilities Warrant derivative liability - - 8,828,405 Conversion option derivative liability - - 3,156,736 Total liabilities - - 11,985,141
Schedule of reconciliation of changes in the fair value of financial assets and liabilities	Significant Unobservable Inputs (Level 3) Three Months Ended 2017 2016 Beginning balance $ 11,985,141 $ 18,207,333 Change in fair value (4,481,736 ) (8,258,978 ) Ending balance $ 7,503,405 $ 9,948,355

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of warrants valued using a Black-Scholes pricing model with assumptions	Three Months Ended 2017 2016 Volatility 129-.70 % - 208.72% 129.70% - 132.58% Risk-free interest rate 1.27% - 2.40% 0.87% - 1.78% Expected term 2 - 9 years 3 - 10 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, 2016 100,000 0.77 9.4 Granted - - Exercised - - Forfeited - - Outstanding at March 31, 2017 100,000 0.77 9.1 Exercisable at March 31, 2017 22,000 $ 0.64 8.9
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, 2016 60,380,521 $ 0.73 $ 4.6 $ 57,361,495 Granted 2,601,800 0.50 Expired (12,500 ) 2.42 Exercised - - Outstanding as of March 31, 2017 62,969,821 $ 0.67 $ 4.4 $ 7,150,781 Exercisable as of March 31, 2017 61,119,821 $ 0.69 $ 4.4 $ 6,678,781

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
Net Loss Per Share [Abstract]
Schedule of net loss per share	Three Months Ended 2017 2016 Net income $ 2,578,776 $ 647,031 Less: decrease in fair value of warrants, net of income tax (2,902,756 ) (5,820,713 ) Less: decrease in fair value of convertible debt, net of income tax (1,293,707 ) (2,438,221 ) Less: interest expense - convertible debt (47,710 ) (29,453 ) Income (loss) available to common stockholders (1,665,397 ) (7,641,356 ) Basic weighted average common shares outstanding 60,685,049 54,824,864 Plus: incremental shares from assumed exercise- warrants 11,016,303 23,518,370 Plus: incremental shares from assumed conversion- convertible debt 4,100,000 2,873,954 Plus: incremental shares from assumed conversion-units 400,663 456,778 Adjusted weighted average common shares outstanding 76,202,016 81,673,966 Net income per share: Basic $ 0.04 $ 0.01 Diluted $ (0.02 ) $ (0.09 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies [Abstract]
Schedule of future minimum lease payments	2017 $ 63,271 2018 71,797 2019 - 2020 - 2021 - Thereafter - Total $ 135,068

Background, Basis of Presenta16

Background, Basis of Presentation, and Going Concern (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Consolidated Statement of Operations [Abstract]
Gain on change in fair value of derivative	$ 4,481,736	$ 8,258,978
Interest expense	(629,513)	(2,519,285)
Total other expense	3,818,623	2,106,751
Net income (loss)	$ 2,578,776	$ 647,031
Net income (loss) per share - basic	$ 0.04	$ 0.01
Net income (loss) per share - diluted	$ (0.02)	$ (0.09)
As Reported [Member]
Consolidated Statement of Operations [Abstract]
Gain on change in fair value of derivative		$ 3,125,584
Interest expense		(2,539,348)
Total other expense		(3,046,706)
Net income (loss)		$ (4,506,426)
Net income (loss) per share - basic		$ (0.08)
Net income (loss) per share - diluted		$ (0.08)
Revision [Member]
Consolidated Statement of Operations [Abstract]
Gain on change in fair value of derivative		$ 5,133,394
Interest expense		(20,063)
Total other expense		5,153,457
Net income (loss)		$ 5,153,457
Net income (loss) per share - basic		$ 0.09
Net income (loss) per share - diluted		$ (0.01)

Background, Basis of Presenta17

Background, Basis of Presentation, and Going Concern (Details 1) - USD ($)	Mar. 31, 2017	Dec. 31, 2016
Liabilities
Warrant derivative liability	$ 5,640,376	$ 8,828,405
Conversion option derivative liability	1,863,029	3,156,736
Fair Value Measurements Level 1 [Member]
Assets
None
Total assets
Liabilities
Warrant derivative liability
Conversion option derivative liability
Total liabilities
Fair Value Measurements Level 2 [Member]
Assets
None
Total assets
Liabilities
Warrant derivative liability
Conversion option derivative liability
Total liabilities
Fair Value Measurements Level 3 [Member]
Assets
None
Total assets
Liabilities
Warrant derivative liability	5,640,376	8,828,405
Conversion option derivative liability	1,863,029	3,156,736
Total liabilities	$ 7,503,405	$ 11,985,141

Background, Basis of Presenta18

Background, Basis of Presentation, and Going Concern (Details 2) - Fair Value, Inputs, Level 3 [Member] - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 11,985,141	$ 18,207,333
Change in fair value	(4,481,736)	(8,258,978)
Ending balance	$ 7,503,405	$ 9,948,355

Background, Basis of Presenta19

Background, Basis of Presentation, and Going Concern (Details Textual) - USD ($)	Mar. 31, 2017	Dec. 31, 2016	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	$ 15,031,834
Accumulated deficit	$ (205,991,063)	$ (208,569,839)

Debt (Details)

Debt (Details) - USD ($)	Apr. 12, 2017	Apr. 09, 2017	Apr. 08, 2017	Mar. 12, 2017	Mar. 09, 2017	Mar. 08, 2017	Mar. 06, 2017	Feb. 27, 2017	Jan. 27, 2017	Aug. 31, 2016	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016	Apr. 30, 2017
Debt (Textual)
Fair value of warrants issued											$ 235,188
Amortization of debt discounts											465,768	$ 1,425,992
Outstanding debt											302,005		$ 243,208
Term of note										1 year
Advances from related party											500,000	1,375,000
Repayments to related party												150,000
Advances to related parties											$ 1,000,000		500,000
Exercise price of warrants											$ 0.50
Beneficial conversion feature recognized											$ 537,891	2,157,408
Subsequent Events [Member]
Debt (Textual)
Exercise price of warrants														$ 0.50
Note purchase agreement [Member]
Debt (Textual)
Percentage of interest rate								8.00%
Fair value of warrants issued						$ 130,207		$ 125,931
Term of note				5 years	5 years	5 years			5 years
Payments to acquire promissory note				$ 100,000	$ 150,000	$ 200,000			$ 200,000
Warrants issued to purchase				200,000	300,000	400,000			400,000
Exercise price of warrants				$ 0.50	$ 0.50	$ 0.50		$ 0.50	$ 0.50
Description of convertible notes payable								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.
Principal amount								$ 200,000
Issuance of additional warrants								200,000
Convertible units issued								400,000
Maturity date, Description								One year.
Beneficial conversion feature recognized								$ 38,655
Additional warrant expense								$ 35,414
Fair value of warrant, share								400,000
Note purchase agreement [Member] | Subsequent Events [Member]
Debt (Textual)
Percentage of interest rate	8.00%	8.00%	8.00%
Fair value of warrants issued	$ 64,386	$ 96,019
Exercise price of warrants	$ 0.50	$ 0.50	$ 0.50
Description of convertible notes payable	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.	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.	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.
Principal amount	$ 100,000	$ 150,000	$ 200,000
Issuance of additional warrants	100,000	150,000	200,000
Convertible units issued	200,000	300,000	400,000
Maturity date, Description	One year.	One year.	One year.
Beneficial conversion feature recognized	$ 18,479	$ 28,018	$ 36,196
Additional warrant expense	$ 17,135	$ 25,963	$ 33,596
Fair value of warrant, share			600,000
Chief Financial Officer [Member]
Debt (Textual)
Accounts payable related parties											0		2,470
Notes Payable [Member]
Debt (Textual)
Outstanding balance of notes payable											$ 400,000		400,000
Promissory notes issued										$ 300,000
Interest rate effective percentage										10.00%	0.50%
Strike price										$ 0.50
Fair value of warrants issued										$ 235,188
Amortization of debt discounts											$ 58,797
Issuance of additional warrants										600,000
Unamortized discounts											97,995		156,792
Notes Payable [Member] | Chief Executive Officer [Member]
Debt (Textual)
Outstanding balance of notes payable											100,000
Notes Payable - Related Party [Member]
Debt (Textual)
Outstanding debt							$ 120,000		$ 380,000
Term of note							4 months		4 months
Lieu interest							$ 6,000		$ 19,000
Notes payable to related parties											1,000,000		500,000
Advances Related Party [Member] | Chief Executive Officer [Member]
Debt (Textual)
Advances from related party											10,000
Repayments to related party											40,000
Advances to related parties											480,000		510,000
Convertible Notes Payable [Member]
Debt (Textual)
Amortization of debt discounts											$ 406,971	$ 191,598
Term of note									30 days
Warrants issued to purchase											771,800
Full principal balances of notes											$ 383,500
Conversion of debt instrument, shares											771,800
Interest expenses of warrants											$ 72,591
Convertible notes payable											1,575,786		1,440,206
Unamortized discounts											474,214		$ 343,294
Accrued interest converted											4,800
Convertible Notes [Member]
Debt (Textual)
Fair value of the derivative liability											1,863,029
Recognized gain on derivative											$ 1,293,707

Equity (Details)

Equity (Details) - Stock Options [Member] - $ / shares	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Number of Shares
Number of Shares, Outstanding, Beginning balance	100,000
Number of Shares, Granted
Number of Shares, Exercised
Number of Shares, Forfeited
Number of Shares, Outstanding, Ending balance	100,000	100,000
Number of Shares, Exercisable	22,000
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 0.77
Weighted Average Exercise Price, Granted
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Forfeited
Weighted Average Exercise Price, Outstanding, Ending balance	0.77	$ 0.77
Weighted Average Exercise Price, Exercisable	$ 0.64
Weighted Average Remaining Contractual Life (years)
Weighted Average Remaining Contractual Life (years), Outstanding	9 years 1 month 6 days	9 years 4 months 24 days
Weighted Average Remaining Contractual Life (years), Exercisable	8 years 10 months 24 days

Equity (Details 1)

Equity (Details 1) - Warrants [Member] - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Number of Shares
Number of Shares, Outstanding, Beginning balance	60,380,521
Number of Shares, Granted	2,601,800
Number of Shares, Expired	(12,500)
Number of Shares, Exercised
Number of Shares, Outstanding, Ending balance	62,969,821	60,380,521
Number of Shares, Exercisable	61,119,821
Weighted Average Exercise Price
Weighted Average Exercise Price, Outstanding, Beginning balance	$ 0.73
Weighted Average Exercise Price, Granted	0.50
Weighted Average Exercise Price, Expired	2.42
Weighted Average Exercise Price, Exercised
Weighted Average Exercise Price, Outstanding, Ending balance	0.67	$ 0.73
Weighted Average Exercise Price, Exercisable	$ 0.69
Weighted Average Remaining Contractual Term (in years)
Weighted Average Remaining Contractual Term (in years), Outstanding	4 years 4 months 24 days	4 years 7 months 6 days
Weighted Average Remaining Contractual Term (in years), Exercisable	4 years 4 months 24 days
Aggregate Intrinsic Value
Aggregate Intrinsic Value, Outstanding, Beginning balance	$ 57,361,495
Aggregate Intrinsic Value, Outstanding, Ending balance	7,150,781	$ 57,361,495
Aggregate Intrinsic Value, Exercisable	$ 6,678,781

Equity (Details 2)

Equity (Details 2) - Warrant [Member]	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	129.70%	129.70%
Risk-free interest rate	1.27%	0.87%
Expected term	2 years	3 years
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Volatility	208.72%	132.58%
Risk-free interest rate	2.40%	1.78%
Expected term	9 years	10 years

Equity (Details Textual)

Equity (Details Textual) - USD ($)

Nov. 04, 2017

Apr. 12, 2017

Mar. 06, 2017

Feb. 13, 2017

Feb. 01, 2017

Nov. 04, 2016

May 13, 2016

Nov. 04, 2015

Sep. 01, 2015

Apr. 30, 2017

Feb. 28, 2017

Feb. 28, 2017

Mar. 31, 2017

Mar. 31, 2016

May 03, 2017

Dec. 31, 2016

Sep. 23, 2016

Equity (Textual)

Common stock, shares issued

61,471,521

60,263,720

Exercise price of warrants

$ 0.50

Fair value of warrants issued

$ 235,188

Derivative liability

5,640,376

$ 8,828,405

Fair value of derivative liability of warrants

3,188,029

Common stock issued for accrued interest

168,000

Loss on settlement of accrued interest

$ (33,600)

Subsequent Events [Member]

Equity (Textual)

Common stock, shares issued

20,000

Exercise price of warrants

$ 0.50

Common stock price per share

$ 0.50

$ 0.50

Common stock issued, shares

115,000

Warrants issued to purchase common stock

100,000

Warrant term

5 years

5 years

Fair value of common stock

$ 193,500

Sale of unit, value

$ 57,000

Issuance of shares, other

387,000

Common Stock [Member]

Equity (Textual)

Common stock, shares issued

336,000

Conversion of debt instrument, shares

771,800

Conversion of debt instrument, value

$ 383,500

Conversion of debt instrument, accrued interest expense

$ 4,800

Exercise price of warrants

$ 0.50

Shares issued

100,000

Common stock issued, shares

487,500

Warrant term

5 years

Common stock issued for accrued interest

$ 168,000

Loss on settlement of accrued interest

33,600

Fair value of common stock

$ 201,600

Sale of unit, value

$ 243,750

Issuance of shares, other

387,500

Common Stock [Member] | Subsequent Events [Member]

Equity (Textual)

Common stock, shares issued

50,226

Warrants issued to purchase common stock

900,000

Convertible notes aggregate principal amount

$ 450,000

Stock Options [Member]

Equity (Textual)

Stock option awards expenses

$ 6,720

4,163

Future stock compensation expense

$ 85,883

Weighted average remaining vesting period

3 years 2 months 12 days

Warrant [Member]

Equity (Textual)

Stock option outstanding intrinsic value

$ 7,150,781

$ 57,361,495

Warrants to purchase common stock

771,800

Exercise price of warrants

$ 0.50

$ 0.50

Common stock price per share

$ 0.50

$ 1

Fair value of warrants issued

$ 18,153

Number of warrant shares vested

10,000

1,200,000

5,000

5,000

Shares issued

1

Warrant expense

$ 147,659

$ 324,851

Determination of fair value, description

The fair value of the warrants was determined to be $120,501 using the Black-Scholes option pricing model of which $120,501 was recognized as expense during the three months ended March 31, 2017.

The fair value of the warrants was determined to be $18,153 using the Black-Scholes option pricing model of which $6,051 was recognized as expense during the three months ended March 31, 2017.

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 valued of the 600,000 Warrant Shares that vested November 4, 2016 was determined to be $559,900 and was recognized as expense during the year ended December 31, 2016. The fair value of the remaining tranche of 600,000 Warrant Shares was determined to total $1,079,740 as of March 31, 2017 using the Black-Scholes option pricing model of which $68,412 of expense was recaptured during the three months ended March 31, 2017 and $110,285 was recognized as expense during the three months ended March 31, 2016.

Warrants issued to purchase common stock

200,000

30,000

2,400,000

Fair value of shares and warrants

$ 120,501

Warrant term

5 years

5 years

Convertible notes aggregate principal amount

$ 388,300

Issued common stock convertible notes, shares

771,800

Recognized expenses using Black-Scholes option pricing model

$ 120,501

$ 6,051

Additional shares of warrant vested

600,000

Warrant [Member] | Subsequent Events [Member]

Equity (Textual)

Additional shares of warrant vested

600,000

Warrant [Member] | Mr.Tobin [Member]

Equity (Textual)

Warrants to purchase common stock

1,500,000

Exercise price of warrants

$ 1

Fair value of warrants issued

$ 2,835,061

Number of warrant shares vested

375,000

Warrant [Member] | Mr.Tobin [Member] | First Anniversary [Member]

Equity (Textual)

Number of warrant shares vested

375,000

Warrant [Member] | Mr.Tobin [Member] | Second Anniversary [Member]

Equity (Textual)

Number of warrant shares vested

375,000

Warrant [Member] | Mr.Tobin [Member] | Third Anniversary [Member]

Equity (Textual)

Number of warrant shares vested

375,000

Warrant [Member] | Service provider [Member]

Equity (Textual)

Warrants to purchase common stock

1,000,000

Common stock price per share

$ 1

Number of warrant shares vested

500,000

Determination of fair value, description

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 year ended December 31, 2016. The fair value of the two tranches of 250,000 Warrant Shares was determined to total $300,799 as of March 31, 2017 using the Black-Scholes option pricing model of which $19,713 of expense was recaptured during the three months ended March 31, 2017.

Warrant [Member] | Service provider [Member] | First Anniversary [Member]

Equity (Textual)

Additional shares of warrant vested

250,000

Warrant [Member] | Service provider [Member] | Second Anniversary [Member]

Equity (Textual)

Additional shares of warrant vested

250,000

Warrant [Member] | Service provider one [Member]

Equity (Textual)

Warrants to purchase common stock

200,000

Common stock price per share

$ 1

Determination of fair value, description

The fair value of the Warrant Shares was determined to total $120,320 as of March 31, 2017 using the Black-Scholes option pricing model of which $155,554 was recognized as expense during the year ended December 31, 2016.

Net Loss Per Share (Details)

Net Loss Per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Net Loss Per Share [Abstract]
Net income	$ 2,578,776	$ 647,031
Less: decrease in fair value of warrants, net of income tax	(2,902,756)	(5,820,713)
Less: decrease in fair value of convertible debt, net of income tax	(1,293,707)	(2,438,221)
Less: interest expense - convertible debt	(47,710)	(29,453)
Income (loss) available to common stockholders	$ (1,665,397)	$ (7,641,356)
Basic weighted average common shares outstanding	60,685,049	54,824,864
Plus: incremental shares from assumed exercise- warrants	11,016,303	23,518,370
Plus: incremental shares from assumed conversion- convertible debt	4,100,000	2,873,954
Plus: incremental shares from assumed conversion-units	400,663	456,778
Adjusted weighted average common shares outstanding	76,202,016	81,673,966
Net income per share:
Basic	$ 0.04	$ 0.01
Diluted	$ (0.02)	$ (0.09)

Commitments and Contingencies26

Commitments and Contingencies (Details)	Mar. 31, 2017USD ($)
Schedule of future minimum lease payments
2,017	$ 63,271
2,018	71,797
2,019
2,020
2,021
Thereafter
Total	$ 135,068

Commitments and Contingencies27

Commitments and Contingencies (Details Textual) - USD ($)	1 Months Ended	3 Months Ended
	Nov. 30, 2013	Mar. 31, 2017	Mar. 31, 2016	Mar. 30, 2015	Sep. 24, 2013
Commitments and Contingencies (Textual)
Rent expense		$ 29,194	$ 21,832
Percentage of the total shares of common stock				67.26%	100.00%
Description of Plaintiff compensation		The Plaintiff seeks monetary damages, including (i) two (2) times of the alleged owed compensation to him, together with interest as well as litigation costs, expert witness fees and reasonable attorneys' fees; (ii) damages for the alleged breach of the Employment Agreement by the Company, estimated to be at least $2 million, plus interest and attorney's fees; (iii) an unspecified amount for his alleged libel claim; and (iv) damages for the alleged tortious interference with contract, including punitive damages of at least $2 million. The Plaintiff is also seeking a declaratory judgment, claiming that he was not terminated as a director and should continue to hold a seat on the Company's Board of Directors.
Term of lease agreement	60 months

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	May 04, 2017	May 03, 2017	May 01, 2017	Apr. 25, 2017	Apr. 12, 2017	Apr. 01, 2017	Feb. 13, 2017	Apr. 30, 2017	Mar. 31, 2017	Apr. 24, 2017	Dec. 31, 2016
Subsequent Events (Textual)
Exercise price of warrants									$ 0.50
Common stock, shares issued									61,471,521		60,263,720
Borrowed amount									$ 302,005		$ 243,208
Common stock [Member]
Subsequent Events (Textual)
Sale of unit, shares									487,500
Sale of unit, value									$ 243,750
Warrant term									5 years
Exercise price of warrants									$ 0.50
Issuance of unit, shares									387,500
Issuance of unit, value							$ 201,600
Common stock, shares issued							336,000
Subsequent Events [Member]
Subsequent Events (Textual)
Stock options granted						50,000
Vesting period						50 months
Options expiration date						Dec. 31, 2027
Options vest						1,000
Sale of unit, shares								115,000
Sale of unit, value								$ 57,000
Warrant, description								Each unit consisted of one common share and one warrant. Each warrant is exercisable for a period of five years from the date of issuance, at $0.50 per share.
Warrant term					5 years			5 years
Common stock price per share					$ 0.50			$ 0.50
Exercise price of warrants								$ 0.50
Issuance of unit, shares								387,000
Issuance of unit, value								$ 193,500
Warrants issued to purchase common stock					100,000
Cashless exercise of warrant		$ 0.50
Common stock, shares issued		20,000
Subsequent Events [Member] | JSJ [Member]
Subsequent Events (Textual)
Maturity date				Jan. 25, 2018
Convertible promissory note loan amount				$ 115,000
Percentage of interest rate				12.00%
Default interest rate				18.00%
Borrowed amount				$ 115,000
Conversion, description				JSJ is entitled, at its option, at any time after the issuance of the note, to convert all or a portion of the outstanding principal amount and accrued but unpaid interest into Company common stock at a conversion price for each share of common stock equal to a price which is a 40% discount to the lowest trading price during the 20 days prior to the day that JSJ requests conversion. JSJ may not convert the Note to the extent that such conversion would result in JSJ's beneficial ownership being in excess of 4.99% of the Company's issued and outstanding common stock together with all shares owned by JSJ and its affiliates. If the Company prepays the note within 60 days of its issuance, the Company must pay all of the principal at a cash redemption premium of 110%; if such prepayment is made from the 61st to the 91st day after issuance, then such redemption premium is 120%; and if such prepayment is after the one 120th date of issuance of the note then such redemption premium is 140%. The foregoing description of the note is not complete and is qualified in its entirety by reference to the full text of the form of the note, a copy of which is filed as Exhibit 10.1 to this report and is incorporated by reference herein. In connection with the issuance of this note, the Company's transfer agent reserved 2,400,000 shares of the Company's common stock, in the event that the note is converted.
Subsequent Events [Member] | JMJ Financial [Member]
Subsequent Events (Textual)
Convertible notes aggregate principal amount	$ 330,000
Converted shares of company's common stock	5,000,000
Maturity date	May 4, 2018
Convertible promissory note loan amount	$ 500,000
Issuance of convertible promissory note	$ 330,000
Percentage of interest rate	10.00%
Borrowed amount	$ 500,000
Conversion, description	JMJ is entitled, at its option, at any time after the issuance of the note, to convert all or a portion of the outstanding principal amount and accrued but unpaid interest into Company common stock at a conversion price for each share of common stock equal to a price which the lesser of $0.52 or 60% of the lowest trade price in the 25 trading days previous to the conversion. JMJ may not convert the note to the extent that such conversion would result in JMJ's beneficial ownership being in excess of 4.99% of the Company's issued and outstanding common stock together with all shares owned by JMJ and its affiliates. If the Company prepays the note within 90 days of its issuance, the Company must pay all of the principal at a cash redemption premium of 120%; if such prepayment is made from the 91st to the 180th day after issuance, then such redemption premium is 130%. The Company may not prepay this note starting on the 181st date after issuance without written approval in advance from JMJ. This note also gives piggyback registration rights to JMJ for the next registration statement, if any, filed by the Company. The note also contains a put notice, pursuant to which JMJ has the right, if the Company's common stock is not listed on either the Nasdaq or NYSE-MKT within 120 days of issuance of the note, then JMJ has a right to put the note back to the Company with a 30 day written notice at 130% of the balance due under the note. Mr. Dean Ledger, our CEO and sole member of the Company's board of directors, agreed to personally guarantee this note, pursuant to a Personal Guaranty and Recourse Agreement entered into between Mr. Ledger and JMJ. In connection with the note, the Company also entered into a Representation and Warranties Agreement Regarding Debt and Variable Securities (the "RW Agreement"), pursuant to which the Company made certain representation and warranties to JMJ, including that the Company will not issue any debt within 90 days of the issuance of the note without written consent from JMJ, unless the proceeds of such debt are used to repay the note within 2 business days. In the RW Agreement, the Company also agreed not to issue any convertible security or any variable security within 90 days of the issuance of the note, unless the proceeds of same are used to pay off the note in 2 business days.
Original issue discount	$ 25,000
Original issue discount, percentage	5.00%
Subsequent Events [Member] | Common stock [Member]
Subsequent Events (Textual)
Warrants issued to purchase common stock					900,000
Convertible notes aggregate principal amount					$ 450,000
Converted shares of company's common stock					900,000
Cashless exercise of warrant					$ 0.50
Common stock, shares issued					50,226
Subsequent Events [Member] | Warrants [Member]
Subsequent Events (Textual)
Cashless exercise of warrant		$ 0.50	$ 0.50
Exercise price of total warrants		690,518	690,518
Subsequent Events [Member] | Securities Purchase Agreement [Member] | Power Up [Member]
Subsequent Events (Textual)
Maturity date				Feb. 10, 2018
Convertible promissory note loan amount										$ 58,500
Issuance of convertible promissory note				$ 58,500
Percentage of interest rate				12.00%
Conversion, description				Power Up may convert the note into common stock beginning on the date which is 180 days from the issuance date of the note, at a price equal to 61% of the average of the lowest two trading prices during the 15 trading day period ending on the last complete trading date prior to the date of conversion, provided, however, that Power Up may not convert the note to the extent that such conversion would result in Power Up's beneficial ownership being in excess of 4.99% of the Company's issued and outstanding common stock together with all shares owned by Power Up and its affiliates. If the Company prepays the note within 30 days of its issuance, the Company must pay all of the principal at a cash redemption premium of 110%; if such prepayment is made between the 31st day and the 60th day after the issuance of the note, then such redemption premium is 115%; if such repayment is made from the sixty first 61st to the 90th day after issuance, then such redemption premium is 120%; if such repayment is made from the 91st to the 120th day after issuance, then such redemption premium is 125%; if such repayment is made from the 121st to the 150th day after issuance, then such redemption premium is 130%; and if such prepayment is after the 151st day and before the 181st date of issuance of the note then such redemption premium is 135%. The foregoing descriptions of the Securities Purchase Agreement and note is not complete and is qualified in its entirety by reference to the full text of the form of Securities Purchase Agreement and form note, copies of which are filed as Exhibit 10.2 and 10.3, respectively, to this report and are incorporated by reference herein. In connection with this note, the Company's transfer agent reserved 1,018,424 shares of the Company's common stock, in the event that the note is converted.