NextTrip (NTRP) 10-Q15 May 142014 Q1 Quarterly reportFinancial data

Company Profile

Document_And_Entity_Informatio

Document And Entity Information	3 Months Ended
Document And Entity Information	Mar. 31, 2014	12-May-14
Document Information [Line Items]	'	'
Entity Registrant Name	'SIGMA LABS, INC.	'
Entity Central Index Key	'0000788611	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Trading Symbol	'SGLB	'
Entity Common Stock, Shares Outstanding	'	601,616,061
Document Type	'10-Q	'
Amendment Flag	'false	'
Document Period End Date	31-Mar-14	'
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2014	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
Current Assets	'	'
Cash	$4,010,281	$992,448
Accounts Receivable, net	126,342	303,445
Inventory	3,974	1,167
Prepaid Assets	16,755	25,074
Total Current Assets	4,157,352	1,322,134
Other Assets	'	'
Furniture and Equipment, net	9,882	11,419
Deferred Stock Offering Costs	0	17,426
Intangible Assets, net	69,917	70,494
Total Other Assets	79,799	99,339
TOTAL ASSETS	4,237,151	1,421,473
Current Liabilities	'	'
Accounts Payable	46,378	102,625
Accrued Expenses	51,256	38,536
Total Current Liabilities	97,634	141,161
TOTAL LIABILITIES	97,634	141,161
Stockholders' Equity	'	'
Preferred Stock, $0.001 par; 10,000,000 shares authorized; None issued and outstanding	0	0
Common Stock, $0.001 par; 750,000,000 shares authorized; 603,891,061 issued and 600,766,061 outstanding at March 31, 2014 and 559,766,061 issued and 556,816,061 outstanding at December 31, 2013	603,891	559,766
Additional Paid-In Capital	6,865,240	3,561,204
Less Deferred Compensation 3,125,000 and 2,950,000 common shares, respectively	-110,950	-88,900
Retained Earnings (Deficit)	-3,218,664	-2,751,758
Total Stockholders' Equity	4,139,517	1,280,312
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$4,237,151	$1,421,473

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets [Parenthetical] (USD $)	Mar. 31, 2014	Dec. 31, 2013
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	750,000,000	750,000,000
Common stock, share issued	603,891,061	559,766,061
Common stock, shares outstanding	600,766,061	556,816,061
Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance	3,125,000	2,950,000

Unaudited_Condensed_Consolidat

Unaudited Condensed Consolidated Statements of Operations (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
INCOME	'	'
Services	$114,829	$164,264
Total Revenue	114,829	164,264
COST OF SERVICE REVENUE	55,889	86,930
GROSS PROFIT	58,940	77,334
EXPENSES	'	'
General & Administration	249,543	135,551
Payroll Expense	251,945	88,409
Non-cash Stock Compensation	25,200	50,000
Total Expenses	526,688	273,960
OTHER INCOME (EXPENSE)	'	'
Interest Income	842	10
Total Other Income (Expense)	842	10
INCOME (LOSS) BEFORE INCOME TAXES	-466,906	-196,616
Current Income Tax Expense	0	0
Deferred Income Tax Expense	0	0
Net Income (Loss)	($466,906)	($196,616)
Loss per Common Share - Basic and Diluted (in dollars per share)	$0	$0
Weighted average number of common shares Outstanding used in loss per share during the Period (denominator)	598,842,450	431,159,067

Unaudited_Condensed_Consolidat1

Unaudited Condensed Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
OPERATING ACTIVITIES	'	'
Net Income (Loss)	($466,906)	($196,616)
Noncash Expenses:	'	'
Amortization	577	22,087
Depreciation	1,537	5,436
Stock Compensation	25,200	50,000
Change in assets and liabilities:	'	'
Decrease in Accounts Receivable	177,103	180,433
(Increase) in Inventory	-2,807	0
Decrease in Prepaid Assets	8,319	10,605
(Decrease) in Accounts Payable	-56,247	-27,048
Increase (Decrease) In Accrued Expenses	12,720	-487
NET CASH PROVIDED (USED) BY OPERATING ACTIVITIES	-300,504	44,410
INVESTING ACTIVITIES	'	'
Purchase of Furniture and Equipment	0	0
Purchase of Intangible Assets	0	0
NET CASH (USED) BY INVESTING ACTIVITIES	0	0
FINANCING ACTIVITIES	'	'
Proceeds from Sale of Stock Subscription	3,500,000	0
Stock Offering Costs	-181,663	0
Contributions	0	0
NET CASH PROVIDED BY FINANCING ACTIVITIES	3,318,337	0
NET CASH INCREASE (DECREASE) FOR PERIOD	3,017,833	44,410
CASH AT BEGINNING OF PERIOD	992,448	150,071
CASH AT END OF PERIOD	4,010,281	194,481
Cash paid during the period for:	'	'
Interest	0	0
Income Taxes	$0	$0

Unaudited_Condensed_Consolidat2

Unaudited Condensed Consolidated Statements of Cash Flows [Parenthetical] (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014
			Warrant [Member]	Warrant [Member]
			Consultant [Member]	Investor [Member]
Shares Issued For Consulting Services	375,000	4,250,000	'	'
Shares Issued For Consulting Services Par Value	$0.13	$0.03	'	'
Shares Issued For Consulting Services Vested During Period	200,000	1,666,667	'	'
Shares Issued For Consulting Services Unvested During Period	175,000	2,583,333	'	'
Share Based Compensation Arrangement By Share Based Payment Award Unvested Stock Cancelled Number	'	500,000	'	'
Share Based Compensation Arrangement By Share Based Payment Award Unvested Stock Cancelled Value	'	$10,000	'	'
Share Based Compensation Arrangement By Share Based Payment Award Unvested Stock Cancelled Per Share Value	'	$0.02	$0	$0
Stock Issued During Period, Shares, New Issues	'	'	2,187,500	14,259,259

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
Summary of Significant Accounting Policies	Mar. 31, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	NOTE 1 – Summary of Significant Accounting Policies

	Nature of Business – On September 13, 2010 Sigma Labs, Inc., formerly named Framewaves, Inc., a Nevada corporation (the “Company”), acquired 100% of the shares of B6 Sigma, Inc. by exchanging 6.67 shares of Framewaves, Inc. restricted common stock for each issued and outstanding share of B6 Sigma, Inc. The acquisition has been accounted for as a “reverse purchase”, and accordingly the operations of Framewaves, Inc. prior to the date of acquisition have been eliminated.

	B6 Sigma, Inc., incorporated February 5, 2010, was founded by a group of scientists, engineers and businessmen to develop and commercialize novel and unique manufacturing and materials technologies. Management believes that some of these technologies will fundamentally redefine conventional quality assurance and control practices by embedding quality assurance and process control into the manufacturing process in real time. The Company anticipates that its core technologies will allow its clientele to combine advanced manufacturing quality assurance and control protocols with novel materials to achieve breakthrough product potential in many industries including aerospace, defense, oil and gas, prosthetic implants and power generation.

	As of December 31, 2011, Sigma Labs, Inc. acquired 100% of the shares of Sumner & Lawrence Limited (“Sumner”), a New Mexico Corporation, and La Mancha Company, a New Mexico Corporation, in exchange for 35,000,000 shares of Sigma Labs, Inc. common stock. The operations of Sumner and La Mancha Company prior to the date of acquisition have been eliminated. La Mancha Company has since ceased all operations and has dissolved.

	Sumner is a private consulting company that provided services to the public and private sector. The Company plans to dissolve Sumner during fiscal 2014.

	Basis of Presentation – The accompanying consolidated financial statements have been prepared by the Company in accordance with Article 8 of U.S. Securities and Exchange Commission Regulation S-X. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31, 2014 and 2013 and for the periods then ended have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. Management suggests these condensed consolidated financial statements be read in conjunction with the December 31, 2013 audited consolidated financial statements and notes thereto included in the Company’s Form 10-K. The results of operations for the periods ended March 31, 2014 and 2013 are not necessarily indicative of the operating results for the full year.

	Reclassification – Certain amounts in prior-period financial statements have been reclassified for comparative purposes to conform to presentation in the current-period financial statements.

	Principles of Consolidation – The consolidated financial statements for March 31, 2014 include the accounts of Sigma Labs, Inc., B6 Sigma, Inc. and Sumner & Lawrence Limited. All significant intercompany balances and transactions have been eliminated.

	Property and Equipment – Property and equipment are stated at cost. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized upon being placed in service. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The estimated life has been determined to be three years unless a unique circumstance exists, which is then fully documented as an exception to the policy.

	Fair Value of Financial Instruments – The Company estimates that the fair value of all financial instruments does not differ materially from the aggregate carrying values of its financial instruments recorded in the accompanying consolidated balance sheets because of the short-term maturity of these financial instruments.

	Income Taxes – The Company accounts for income taxes in accordance with ASC Topic No. 740, “Accounting for Income Taxes.”

	The Company adopted the provisions of ASC Topic No. 740, “Accounting for Income Taxes,” at the date of inception on February 5, 2010. As a result of the implementation of ASC Topic No. 740, the Company recognized no increase in the liability for unrecognized tax benefits.

	The Company has no tax positions at March 31, 2014 and December 31, 2013 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.

	The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the three months ended March 31, 2014, the Company recognized no interest and penalties. The Company had no accruals for interest and penalties at March 31, 2014 and 2013, or December 31, 2013. All tax years starting with 2010 are open for examination.

	Loss Per Share – The computation of loss per share is based on the weighted average number of shares outstanding during the period in accordance with ASC Topic No. 260, “Earnings Per Share.”

	Accounts Receivable and Allowance for Doubtful Accounts - Trade accounts receivable are carried at original invoice amount less an estimate made for doubtful accounts. We determine the allowance for doubtful accounts by identifying potential troubled accounts and by using historical experience and future expectations applied to an aging of accounts. Trade accounts receivable are written off when deemed uncollectible. Recoveries of trade accounts receivable previously written off are recorded as income when received. The allowance for doubtful accounts at March 31, 2014 and December 31, 2013 was $4,884 and $4,884 respectively.

	Long-Lived and Intangible Assets – Long-lived assets and certain identifiable definite life intangibles to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company continuously evaluates the recoverability of its long-lived assets based on estimated future cash flows and the estimated liquidation value of such long-lived assets, and provides for impairment if such undiscounted cash flows are insufficient to recover the carrying amount of the long-lived assets. If impairment exists, an adjustment is made to write the asset down to its fair value, and a loss is recorded as the difference between the carrying value and fair value. Fair values are determined based on quoted market values, discounted cash flows or internal and external appraisals, as applicable. Assets to be disposed of are carried at the lower of carrying value or estimated net realizable value. No impairment was recorded during the three months ended March 31, 2014. During the year ended December 31, 2013, an impairment of $87,340 was recorded to reduce the value of customer contacts intangible assets of Sumner as management plans to discontinue servicing the related contracts in 2014.

	Recently Enacted Accounting Standards – The FASB established the Accounting Standards Codification (“Codification” or “ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) issued under authority of federal securities laws are also sources of GAAP for SEC registrants.

	Recent Accounting Standards Updates (“ASU”) through ASU No. 2014-08 contain technical corrections to existing guidance or affects guidance to specialized industries. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant.

	Cash Equivalents - The Company considers all highly liquid investments with an original maturity of three months or less at date of purchase to be cash equivalents.

	Concentration of Credit Risk - The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.

	Organization Expenditures – Organizational expenditures are expensed as incurred for Securities Exchange Commission (SEC) filings, but capitalized and amortized for income tax purposes.

	Stock Based Compensation – The Company recognizes compensation costs to employees under ASC Topic No. 718, “Compensation – Stock Compensation.” Under ASC Topic No. 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share based compensation arrangements include stock options, restricted share plans, performance based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant.

	Equity instruments issued to other than employees are recorded on the basis of the fair value of the instruments, as required by ASC Topic No. 505, “Equity Based Payments to Non-Employees.” In general, the measurement date is when either (a) a performance commitment, as defined, is reached or (b) the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the FASB Accounting Standards Codification.

	Amortization - Utility patents are amortized over a 17 year period. Patents which are pending are not amortized. Customer contacts intangible asset is being amortized over a 3 year period.

	Accounting Estimates - The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimated by management.

	Revenue Recognition – The Company’s revenue is derived primarily from providing services under contractual agreements. The Company recognizes revenue in accordance with ASC Topic No. 605 based on the following criteria: Persuasive evidence of an arrangement exists, services have been rendered, the price is fixed or determinable, and collectability is reasonably assured.

Stockholders_Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2014
Stockholders' Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	NOTE 2 – Stockholders’ Equity

	Common Stock

	The Company has authorized 750,000,000 shares of common stock, $0.001 par value.

	On September 13, 2010 the Company closed a share exchange transaction (the “Reorganization”) with the shareholders of B6 Sigma, Inc., a Delaware corporation (“B6 Sigma”), which resulted in B6 Sigma becoming a wholly-owned subsidiary of the Company. Each share of B6 Sigma, Inc. common stock outstanding as at the closing of the Reorganization was exchanged for 6.67 shares of the Company’s common stock. At the closing, B6 Sigma, Inc. also acquired and cancelled 110,700,000 (post-split) shares of the Company’s common stock from three shareholders for the sum of $195,000. Upon the closing of the Reorganization, the Company ceased to be a “Shell” company (as such term is defined in Rule 12b-2 under the Securities Exchange Act of 1934, as amended). As a condition to the closing of the Reorganization, B6 Sigma, Inc. also closed a private offering of $1,000,000 of its common stock contemporaneously with the closing of the Reorganization, which included the conversion of $300,000 of previously issued convertible notes and related interest by B6 Sigma, Inc. into the private offering of common stock.

	Following issuance of the Reorganization shares to the B6 Sigma shareholders and the stock cancellation, the Company had 313,067,400 (post-split) shares of its common stock issued and outstanding. In connection with the closing of the Reorganization, the shareholders of the Company approved a 150:1 forward stock split, and a change of the name of the corporation to Sigma Labs, Inc. Additionally, following completion of the Reorganization, B6 Sigma became a wholly owned subsidiary.

	On January 6, 2011, the Company issued an aggregate of 1,100,000 shares of the Company’s common stock to two consultants as noncash compensation for services rendered valued at $22,000 or $0.02 per share.

	In January 2011, the Company commenced a private offering of up to 75,000,000 shares of common stock, $0.001 par value per share, at an issue price of $0.02 per share of common stock. On April 15, 2011, the Company closed the private offering, pursuant to which the Company issued 55,875,000 shares of the Company’s common stock. Gross proceeds amounted to $1,117,500.

	The placement agent received a total of $105,735 in commissions. The direct cost associated with the stock offering has been reflected as a reduction to Additional Paid-in-Capital. Net proceeds from the sale of stock were $1,011,765. The Company also issued to the agent five year warrants to purchase up to 7,931,250 shares of the Company’s common stock. Such warrants had an exercise price of $0.025 per share and are valued at $158,625. During July 2013, such warrants were exercised using the cashless exercise option resulting in 5,098,661 shares being issued.

	The fair value of the warrants issued was estimated at the date of grant using the Black-Scholes option-pricing model with the following assumptions: risk free interest rate of 2.14%; Volatility of 470 and an expected life of five years. It is assumed that no dividends will be paid during the periods of calculation, resulting in a respective weighted-average fair value per warrant of $0.02. Management believes the resulting warrant values are reasonable.

	On March 9, 2011, our Board of Directors adopted the 2011 Equity Incentive Plan (the “Equity Plan”). On March 31, 2011, the holders of at least a majority of the issued and outstanding shares of common stock of the Company approved the Equity Plan. Pursuant to the Equity Plan, the Company is authorized to grant options, restricted stock and stock appreciation rights to purchase up to 31,000,000 shares of common stock to its employees, officers, directors, consultants and advisors. The Equity Plan provides for awards of incentive stock options, non-statutory stock options, and rights to acquire restricted stock. Incentive stock options granted under the Equity Plan are intended to qualify as “incentive stock options” within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”). Non-statutory stock options granted under the Equity Plan are not intended to qualify as incentive stock options under the Code.

	In April 2011, the Company issued an aggregate of 3,625,000 shares of the Company’s common stock to one consultant and two professionals as noncash compensation for services rendered to the Company, which services were valued at $72,500 or $0.02 per share.

	On May 16, 2011, the Company issued 1,000,000 shares of the Company’s common stock to a consultant as noncash compensation for services rendered valued at $20,000 or $0.02 per share.

	On December 31, 2011, the Company issued 35,000,000 shares of the Company’s common stock to acquire 100% of the shares of Sumner & Lawrence Limited and La Mancha Company.

	On June 7, 2012, the Company issued 5,000,000 shares of the Company’s common stock to two consultants as noncash compensation for services rendered valued at $50,000 or $0.01 per share.

	On December 12, 2012, the Company issued 1,500,000 shares of the Company’s common stock to three consultants as noncash compensation for services rendered valued at $16,500 or $0.011 per share.

	On January 31, 2013, the Company issued 250,000 shares of the Company’s common stock to a consultant as noncash compensation for services to be rendered valued at $7,500 or $0.03 per share.

	On February 14, 2013, the Company issued 4,000,000 shares of the Company’s common stock to a consultant as noncash compensation for services to be rendered valued at $120,000 or $0.03 per share. Of these shares, 1,250,000 (valued at $37,500) vested during the six months ended June 30, 2013 and 2,750,000 (valued at $82,500) were cancelled in June 2013.

	On May 10, 2013, the Company issued 500,000 shares of the Company’s common stock to a consultant as noncash compensation for services rendered valued at $12,400 or $0.0248 per share.

	On May 23, 2013, the Company issued 2,000,000 shares of the Company’s common stock to a consultant as noncash compensation for services to be rendered valued at $45,400 or $0.0227 per share. Of these shares, 1,000,000 (valued at $22,700) vested immediately and 1,000,000 (valued at $22,700) remain unvested and are reflected as deferred compensation as of March 31, 2014.

	On July 18, 2013, the Company completed a private placement of 120,000,000 shares of common stock, resulting in aggregate gross proceeds of $1,200,000. Offering costs were approximately $30,054.

	During July 2013, warrants previously issued during 2011 in connection with a private placement were exercised using the cashless exercise option resulting in 5,098,661 shares being issued.

	On August 12, 2013, the Company issued 500,000 shares of the Company’s common stock to a consultant as noncash compensation for services rendered valued at $31,500 or $0.063 per share.

	On August 26, 2013, the Company issued 1,000,000 shares of the Company’s common stock to a director pursuant to the Company’s 2011 Equity Incentive Plan valued at $65,000 or $0.065 per share.

	On October 31, 2013, in conjunction with the appointment of a director as a member of the Company’s Board of Directors, the Company issued 500,000 shares of the Company’s common stock to the director as noncash compensation valued at $78,000 or $0.156 per share. Of these shares, 300,000 (valued at $46,800) vested immediately and 200,000 (valued at $31,200) remain unvested and are reflected as deferred compensation as of March 31, 2014.

	In January 2014, the Company issued 43,750,000 shares of stock to an investor for a total purchase price of $3,500,000. In connection with the purchase and sale of the shares, the Company agreed to issue to the investor a warrant to purchase up to 14,259,259 shares of the Company’s common stock, at an exercise price of $0.15 per share. The warrant has a term of nine months from the date of issuance (January 10, 2014) and had a fair value of approximately $1,212,037. A warrant was also issued as part of the offering to a consultant to purchase up to 2,187,500 shares of common stock at $0.08 per share, valued at approximately $271,250. The warrant has a term of two years from the date of issuance (January 10, 2014). Offering costs paid from the proceeds of the offering were approximately $199,089.

	In February 2014, the Company issued 375,000 shares of stock to a consultant, subject to restrictions. The shares were valued at $0.126 or $47,250. Of these shares, 200,000 (valued at $25,200) vested during the quarter and 175,000 (valued at $22,050) remain unvested and are reflected as deferred compensation as of March 31, 2014.

	The Company has authorized 750,000,000 shares of common stock, $0.001 par value. At March 31, 2014, there were 603,891,061 shares issued and 600,766,061 outstanding, reflecting 3,125,000 issued but unvested shares pursuant to the Company’s 2011 Equity Incentive Plan. At December 31, 2013, there were 559,766,061 shares issued and 556,816,061 shares outstanding, reflecting 2,950,000 issued but unvested shares pursuant to the Company’s 2011 Equity Incentive Plan.

	On March 15^, 2013, the Company’s Board of Directors approved the Company’s 2013 Equity Incentive Plan. The 2013 Equity Inventive Plan was approved by holders of at least a majority of the issued and outstanding shares of common stock of the Company on October 10, 2013. Pursuant to the Equity Plan, the Company is authorized to grant options, restricted stock and stock appreciation rights to purchase up to 30,000,000 shares of common stock to its employees, officers, directors, consultants and advisors. As of March 31, 2014 no equity awards have been issued under the 2013 Equity Incentive Plan.

	Deferred Compensation

	During April 2011, the Company issued to five employees an aggregate of 20,000,000 shares of the Company’s common stock, subject to restrictions, pursuant to the 2011 Equity Incentive Plan. Such shares were valued at the fair value of $400,000 or $0.02 per share. This compensation is being expensed over the vesting period.

	During the year ended December 31, 2012, 7,000,000 shares of unvested common stock valued at $140,000 (previously included in deferred compensation) were cancelled or forfeited.

	During the year ended December 31, 2012, an additional 3,750,000 shares of common stock valued at $75,000 vested and were recorded to expense and as a reduction to deferred compensation.

During the year ended December 31, 2013, 500,000 shares of unvested common stock valued at $10,000 (previously included in deferred compensation) were cancelled or forfeited.

During the year ended December 31, 2013, an additional 1,750,000 shares of common stock valued at $35,000 vested and were recorded to expense and as a reduction to deferred compensation.

During the year ended December 31, 2013, 4,250,000 shares of common stock were issued to consultants at $0.03 per share, 500,000 shares were issued to a consultant at $0.0248 per share, 2,000,000 shares were issued to a consultant at $0.0227 per share, 500,000 shares were issued to a consultant at $0.063 per share, 1,000,000 shares were issued to a consultant at $0.065 per share and 500,000 shares were issued to a director at $0.156 per share. The unvested portion of the shares at December 31, 2013 (1,200,000 unvested shares) increased deferred compensation by $53,900.

During the quarter ended March 31, 2014, 375,000 shares of common stock were issued to a consultant at $0.126 per share. The unvested portion of the shares at March 31, 2014 (175,000 unvested shares) increased deferred compensation by $22,050.

As of March 31, 2014, the balance of unvested compensation cost expected to be recognized is $110,950 and is recorded as a reduction of stockholder’s equity. As of December 31, 2013, the balance of unvested compensation cost expected to be recognized is $88,900 and is recorded as a reduction of stockholders’ equity. The unvested compensation is expected to be recognized over the weighted average period of approximately 1 year (through December 31, 2014).

Preferred Stock

The Company is authorized to issue 10,000,000 shares of preferred stock, $0.001 par value. There were none issued and outstanding at March 31, 2014 or December 31, 2013.


Warrants

At March 31, 2014, the Company had two outstanding warrants for a total of 16,446,759 shares. Of these, 14,259,259 are exercisable at $0.15 per share and 2,187,500 are exercisable at $0.08 per share.

Going_Concern

Going Concern	3 Months Ended
Going Concern	Mar. 31, 2014
Going Concern Disclosure [Abstract]	'
Going Concern Disclosure [Text Block]	'
	NOTE 3 – Going Concern

	The Company has sustained losses since its inception. The ability of the Company to continue as a going concern is dependent on expanding income opportunities. Management anticipates that additional contracts will allow the Company to achieve profitable operations. There is no assurance that the Company will be successful in raising additional capital or in achieving profitable operations. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

Loss_Per_Share

Loss Per Share	3 Months Ended
Loss Per Share	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Earnings Per Share [Text Block]	'
	NOTE 4 – Loss Per Share

	The following data show the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended March 31, 2014 and 2013:

		3 Months Ended
		3/31/14		3/31/13

	Loss from continuing
	Operations available to
	Common stockholders (numerator)	$	-466,906	$	-196,616


	Weighted average number of
	common shares Outstanding
	used in loss per share during
	the Period (denominator)		598,842,450		431,159,067

	Dilutive loss per share was not presented as the Company had no common equivalent shares for all periods presented that would affect the computation of diluted loss per share or its effect is anti-dilutive.

Subsequent_Events

Subsequent Events	3 Months Ended
Subsequent Events	Mar. 31, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	NOTE 5 – Subsequent Events

	The Company has evaluated subsequent events from the balance sheet date through the date the financial statements were issued and determined there are no items to disclose, other than those items noted below.

	During April 2014, the Company issued an aggregate of 850,000 shares of common stock to two employees and one director valued at $0.136 per share or $115,600.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
Summary of Significant Accounting Policies (Policies)	Mar. 31, 2014
Accounting Policies [Abstract]	'
Nature Of Operation [Policy Text Block]	'
	Nature of Business – On September 13, 2010 Sigma Labs, Inc., formerly named Framewaves, Inc., a Nevada corporation (the “Company”), acquired 100% of the shares of B6 Sigma, Inc. by exchanging 6.67 shares of Framewaves, Inc. restricted common stock for each issued and outstanding share of B6 Sigma, Inc. The acquisition has been accounted for as a “reverse purchase”, and accordingly the operations of Framewaves, Inc. prior to the date of acquisition have been eliminated.

	B6 Sigma, Inc., incorporated February 5, 2010, was founded by a group of scientists, engineers and businessmen to develop and commercialize novel and unique manufacturing and materials technologies. Management believes that some of these technologies will fundamentally redefine conventional quality assurance and control practices by embedding quality assurance and process control into the manufacturing process in real time. The Company anticipates that its core technologies will allow its clientele to combine advanced manufacturing quality assurance and control protocols with novel materials to achieve breakthrough product potential in many industries including aerospace, defense, oil and gas, prosthetic implants and power generation.

	As of December 31, 2011, Sigma Labs, Inc. acquired 100% of the shares of Sumner & Lawrence Limited (“Sumner”), a New Mexico Corporation, and La Mancha Company, a New Mexico Corporation, in exchange for 35,000,000 shares of Sigma Labs, Inc. common stock. The operations of Sumner and La Mancha Company prior to the date of acquisition have been eliminated. La Mancha Company has since ceased all operations and has dissolved.

	Sumner is a private consulting company that provided services to the public and private sector. The Company plans to dissolve Sumner during fiscal 2014.

Basis of Accounting, Policy [Policy Text Block]	'
	Basis of Presentation – The accompanying consolidated financial statements have been prepared by the Company in accordance with Article 8 of U.S. Securities and Exchange Commission Regulation S-X. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows at March 31, 2014 and 2013 and for the periods then ended have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been condensed or omitted. Management suggests these condensed consolidated financial statements be read in conjunction with the December 31, 2013 audited consolidated financial statements and notes thereto included in the Company’s Form 10-K. The results of operations for the periods ended March 31, 2014 and 2013 are not necessarily indicative of the operating results for the full year.

Reclassification, Policy [Policy Text Block]	'
	Reclassification – Certain amounts in prior-period financial statements have been reclassified for comparative purposes to conform to presentation in the current-period financial statements.

Consolidation, Policy [Policy Text Block]	'
	Principles of Consolidation – The consolidated financial statements for March 31, 2014 include the accounts of Sigma Labs, Inc., B6 Sigma, Inc. and Sumner & Lawrence Limited. All significant intercompany balances and transactions have been eliminated.

Property, Plant and Equipment, Policy [Policy Text Block]	'
	Property and Equipment – Property and equipment are stated at cost. Expenditures for major renewals and betterments that extend the useful lives of property and equipment are capitalized upon being placed in service. Expenditures for maintenance and repairs are charged to expense as incurred. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The estimated life has been determined to be three years unless a unique circumstance exists, which is then fully documented as an exception to the policy.

Fair Value of Financial Instruments, Policy [Policy Text Block]	'
	Fair Value of Financial Instruments – The Company estimates that the fair value of all financial instruments does not differ materially from the aggregate carrying values of its financial instruments recorded in the accompanying consolidated balance sheets because of the short-term maturity of these financial instruments.

Income Tax, Policy [Policy Text Block]	'
	Income Taxes – The Company accounts for income taxes in accordance with ASC Topic No. 740, “Accounting for Income Taxes.”

	The Company adopted the provisions of ASC Topic No. 740, “Accounting for Income Taxes,” at the date of inception on February 5, 2010. As a result of the implementation of ASC Topic No. 740, the Company recognized no increase in the liability for unrecognized tax benefits.

	The Company has no tax positions at March 31, 2014 and December 31, 2013 for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility.

	The Company recognizes interest accrued related to unrecognized tax benefits in interest expense and penalties in operating expenses. During the three months ended March 31, 2014, the Company recognized no interest and penalties. The Company had no accruals for interest and penalties at March 31, 2014 and 2013, or December 31, 2013. All tax years starting with 2010 are open for examination.

Earnings Per Share, Policy [Policy Text Block]	'
	Loss Per Share – The computation of loss per share is based on the weighted average number of shares outstanding during the period in accordance with ASC Topic No. 260, “Earnings Per Share.”

Trade and Other Accounts Receivable, Policy [Policy Text Block]	'
	Accounts Receivable and Allowance for Doubtful Accounts - Trade accounts receivable are carried at original invoice amount less an estimate made for doubtful accounts. We determine the allowance for doubtful accounts by identifying potential troubled accounts and by using historical experience and future expectations applied to an aging of accounts. Trade accounts receivable are written off when deemed uncollectible. Recoveries of trade accounts receivable previously written off are recorded as income when received. The allowance for doubtful accounts at March 31, 2014 and December 31, 2013 was $4,884 and $4,884 respectively.

Goodwill and Intangible Assets, Policy [Policy Text Block]	'
	Long-Lived and Intangible Assets – Long-lived assets and certain identifiable definite life intangibles to be held and used by the Company are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. The Company continuously evaluates the recoverability of its long-lived assets based on estimated future cash flows and the estimated liquidation value of such long-lived assets, and provides for impairment if such undiscounted cash flows are insufficient to recover the carrying amount of the long-lived assets. If impairment exists, an adjustment is made to write the asset down to its fair value, and a loss is recorded as the difference between the carrying value and fair value. Fair values are determined based on quoted market values, discounted cash flows or internal and external appraisals, as applicable. Assets to be disposed of are carried at the lower of carrying value or estimated net realizable value. No impairment was recorded during the three months ended March 31, 2014. During the year ended December 31, 2013, an impairment of $87,340 was recorded to reduce the value of customer contacts intangible assets of Sumner as management plans to discontinue servicing the related contracts in 2014.

New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recently Enacted Accounting Standards – The FASB established the Accounting Standards Codification (“Codification” or “ASC”) as the source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). Rules and interpretive releases of the Securities and Exchange Commission (“SEC”) issued under authority of federal securities laws are also sources of GAAP for SEC registrants.

	Recent Accounting Standards Updates (“ASU”) through ASU No. 2014-08 contain technical corrections to existing guidance or affects guidance to specialized industries. These updates have no current applicability to the Company or their effect on the financial statements would not have been significant.

Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash Equivalents - The Company considers all highly liquid investments with an original maturity of three months or less at date of purchase to be cash equivalents.

Concentration Risk, Credit Risk, Policy [Policy Text Block]	'
	Concentration of Credit Risk - The Company maintains its cash in bank deposit accounts, which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash and cash equivalents.

Organization Expenditure [Policy Text Block]	'
	Organization Expenditures – Organizational expenditures are expensed as incurred for Securities Exchange Commission (SEC) filings, but capitalized and amortized for income tax purposes.

Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	'
	Stock Based Compensation – The Company recognizes compensation costs to employees under ASC Topic No. 718, “Compensation – Stock Compensation.” Under ASC Topic No. 718, companies are required to measure the compensation costs of share-based compensation arrangements based on the grant-date fair value and recognize the costs in the financial statements over the period during which employees are required to provide services. Share based compensation arrangements include stock options, restricted share plans, performance based awards, share appreciation rights and employee share purchase plans. As such, compensation cost is measured on the date of grant at their fair value. Such compensation amounts, if any, are amortized over the respective vesting periods of the option grant.

	Equity instruments issued to other than employees are recorded on the basis of the fair value of the instruments, as required by ASC Topic No. 505, “Equity Based Payments to Non-Employees.” In general, the measurement date is when either (a) a performance commitment, as defined, is reached or (b) the earlier of (i) the non-employee performance is complete or (ii) the instruments are vested. The measured value related to the instruments is recognized over a period based on the facts and circumstances of each particular grant as defined in the FASB Accounting Standards Codification.

Depreciation, Depletion, and Amortization [Policy Text Block]	'
	Amortization - Utility patents are amortized over a 17 year period. Patents which are pending are not amortized. Customer contacts intangible asset is being amortized over a 3 year period.

Use of Estimates, Policy [Policy Text Block]	'
	Accounting Estimates - The preparation of financial statements in conformity with generally accepted accounting principles in the United States requires management to make estimates and assumptions that affect certain reported amounts of assets and liabilities, the disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimated by management.

Revenue Recognition, Policy [Policy Text Block]	'
	Revenue Recognition – The Company’s revenue is derived primarily from providing services under contractual agreements. The Company recognizes revenue in accordance with ASC Topic No. 605 based on the following criteria: Persuasive evidence of an arrangement exists, services have been rendered, the price is fixed or determinable, and collectability is reasonably assured.

Loss_Per_Share_Tables

Loss Per Share (Tables)	3 Months Ended
Loss Per Share (Tables)	Mar. 31, 2014
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	The following data show the amounts used in computing loss per share and the effect on income and the weighted average number of shares of dilutive potential common stock for the periods ended March 31, 2014 and 2013:

		3 Months Ended
		3/31/14		3/31/13

	Loss from continuing
	Operations available to
	Common stockholders (numerator)	$	-466,906	$	-196,616


	Weighted average number of
	common shares Outstanding
	used in loss per share during
	the Period (denominator)		598,842,450		431,159,067

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details Textual) (USD $)	0 Months Ended	3 Months Ended	12 Months Ended		3 Months Ended
	Sep. 13, 2010	Mar. 31, 2014	Dec. 31, 2013	Dec. 31, 2011	Mar. 31, 2014	Mar. 31, 2014
	Sep. 13, 2010	Mar. 31, 2014	Dec. 31, 2013	Sumner and La Mancha [Member]	Patents [Member]	Customer Contacts [Member]
Summary Of Significant Accounting Policies [Line Items]	'	'	'	'	'	'
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	100.00%	'	'	'	'	'
Number Of Shares Exchanged For Each Share Of Acquired Entity (in shares)	6.67	'	'	'	'	'
Allowance for Doubtful Accounts Receivable, Current	'	$4,884	$4,884	'	'	'
Finite-Lived Intangible Assets, Useful Life, Maximum	'	'3 years	'	'	'17 years	'3 years
Stock Issued During Period, Shares, Purchase Of Assets (in shares)	'	'	'	35,000,000	'	'
Business Acquisition, Percentage of Voting Interests Acquired	'	'	'	100.00%	'	'
Impairment of Intangible Assets, Finite-lived	'	$0	$87,340	'	'	'

Stockholders_Equity_Details_Te

Stockholders' Equity (Details Textual) (USD $)

0 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

12 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

3 Months Ended

1 Months Ended

12 Months Ended

Sep. 13, 2010

Jan. 31, 2014

Aug. 31, 2013

31-May-13

Apr. 30, 2011

Mar. 31, 2011

Jan. 31, 2011

Mar. 31, 2014

Mar. 31, 2013

Dec. 31, 2013

Mar. 31, 2014

Oct. 31, 2013

Mar. 31, 2014

Dec. 31, 2013

Apr. 30, 2011

Jul. 31, 2013

Aug. 31, 2013

Mar. 15, 2013

Dec. 31, 2011

Jan. 31, 2014

Mar. 31, 2014

Apr. 30, 2011

Feb. 28, 2014

Jan. 31, 2014

31-May-13

31-May-11

Mar. 31, 2014

Jan. 31, 2014

Mar. 31, 2014

Jun. 30, 2012

Dec. 31, 2012

Jan. 31, 2013

Jun. 30, 2013

Feb. 28, 2013

Jan. 31, 2014

Jul. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Warrants One [Member]

Warrants Two [Member]

Director [Member]

Equity Incentive Plan 2011 [Member]

Equity Incentive Plan 2013 [Member]

Sumner Associates and La Mancha [Member]

Investor [Member]

One Consultants and Two Professionals [Member]

Consultant [Member]

Two Consultants [Member]

Three Consultants [Member]

Consultant One [Member]

Consultant Two [Member]

Private Placement [Member]

Common Stock [Member]

Director [Member]

Warrant [Member]

Schedule of Stockholders Equity [Line Items]

Common stock, shares authorized

750,000,000

Common stock, par value (in dollars per share)

$0.00

Common Stock Par Or Stated Value Per Share Private Offering (in dollars per share)

$0.00

Common stock, share issued

603,891,061

559,766,061

Common stock, shares outstanding

600,766,061

556,816,061

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares)

500,000

7,000,000

Share Based Compensation Arrangement By Share Based Payment Award Value Of Unvested Common Stock

$10,000

$140,000

Stock Issued During Period, Shares, Issued For Noncash Consideration (in shares)

500,000

1,100,000

500,000

3,625,000

500,000

1,000,000

5,000,000

1,500,000

250,000

4,000,000

Stock Issued During Period, Value, Issued For Noncash Considerations

31,500

22,000

78,000

72,500

12,400

20,000

50,000

16,500

7,500

120,000

Stock Issued During Period, Issued For Noncash Considerations, Par Value (in dollars per share)

$0.06

$0.02

$0.16

$0.02

$0.01

$0.03

Share Based Compensation Arrangement By Share Based Payment Award Number Of Vested Shares (in shares)

300,000

200,000

1,750,000

3,750,000

Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value

46,800

25,200

35,000

75,000

Preferred stock, shares authorized

10,000,000

Preferred stock, par value (in dollars per share)

$0.00

Preferred stock, shares issued

Preferred stock, shares outstanding

Shares issued for cash in a private offering

1,117,500

Stock Issued During Period, Shares, Private Offering (in shares)

55,875,000

75,000,000

Employee Service Share-based Compensation, Nonvested Awards, Total Compensation Cost Not yet Recognized

110,950

88,900

Employee Service Share-Based Compensation, Nonvested Awards, Total Compensation Cost Not Yet Recognized, Period For Recognition

'1 year

Deferred Compensation Arrangement with Individual, Shares Authorized for Issuance

3,125,000

2,950,000

Stock Issued During Period Private Offering Price Per Share

$0.02

Placement Agent Commissions Received

105,735

Class of Warrant or Right, Number of Securities Called by Warrants or Rights

7,931,250

5,098,661

Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)

0.025

0.15

0.08

Proceeds from Issuance of Warrants

158,625

Net Proceeds from Sale of Common Stock

1,011,765

Number Of Shares Exchanged For Each Share Of Acquired Entity (in shares)

6.67

Cancellation Of Common Stock

110,700,000

Stock Issued During Period, Shares, Stock Splits

313,067,400

Business Acquisition, Equity Interest Issued or Issuable, Number of Shares

35,000,000

Business Acquisition, Ownership Percentage

100.00%

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate

2.14%

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Volatility Rate

470.00%

Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Term

'175000 years

Share Based Compensation Arrangement By Share Based Payment Award Warrants Grants In Period Weighted Average Grant Date Fair Value

$0.02

Cancellation Of Common Stock Value

195,000

Cancellation Of Common Stock Pursuant To Private Offering

1,000,000

Convertible Notes Value Included In Cancellation Of Common Stock

300,000

Shares Issued For Employee Equity Plan

20,000,000

1,000,000

Stock Issued During Period, Value, Share-based Compensation, Gross

400,000

65,000

Shares Issued For Employee Equity Plan Par Value (in dollars per share)

$0.02

$0.07

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Nonvested, Number

175,000

1,200,000

2,750,000

Share-Based Compensation Arrangement By Share-Based Payment Award, Equity Instruments Other Than Options, Vested In Period

1,000,000

1,250,000

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Total Fair Value

37,500

Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Non vested Value

22,050

53,900

22,700

82,500

Shares Issued For Consulting Services

2,000,000

375,000

4,250,000

1,000,000

Shares Issued For Consulting Services Par Value

$0.02

$0.13

$0.03

$0.07

Shares Issued For Consulting Services One Value

45,400

Shares Issued For Consulting Services Two

375,000

4,250,000

Shares Issued For Consulting Services Par Value Two

$0.13

$0.03

Shares Issued For Consulting Services One

500,000

Shares Issued For Consulting Services Par Value One

$0.02

Maximum Number Of Common Stock Private Offering

120,000,000

Maximum Proceeds From Issuance Of Common Stock Private Offering

1,200,000

Payments of Stock Issuance Costs

199,089

30,054

Authorized Shares Of Common Stock Available To Employees

31,000,000

Share Based Compensation Arrangement By Share Based Payment Award Number Of Non Vested Share

200,000

Share Based Compensation Arrangement By Share Based Payment Award Number Of Non Vested Fair Value

31,200

Shares Issued For Consulting Services Three

2,000,000

Shares Issued For Consulting Services Par Value Three

$0.02

Shares Issued For Consulting Services Four

500,000

Shares Issued For Consulting Services Par Value Four

$0.06

Stock Issued During Period, Shares, Issued for Services

500,000

Share Price

$0.16

Common Stock, Capital Shares Reserved for Future Issuance

30,000,000

Stock Issued During Period, Shares, New Issues

43,750,000

14,259,259

375,000

2,187,500

Stock Issued During Period, Value, New Issues

3,500,000

47,250

Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price

$0.15

$0.13

$0.08

Class Of Warrant Or Rights Exercise Term

'9 months

'2 years

Fair Value Of Warrants

$1,212,037

$271,250

Class of Warrant or Right, Outstanding

16,446,759

Class Of Warrant Or Rights Exercisable

14,259,259

2,187,500

Loss_Per_Share_Details

Loss Per Share (Details) (USD $)	3 Months Ended
Loss Per Share (Details) (USD $)	Mar. 31, 2014	Mar. 31, 2013
Schedule of Earnings Per Share [Line Items]	'	'
Loss from continuing Operations available to Common stockholders (numerator)	($466,906)	($196,616)
Weighted average number of common shares Outstanding used in loss per share during the Period (denominator)	598,842,450	431,159,067

Subsequent_Events_Details_Text

Subsequent Events (Details Textual) (Subsequent Event [Member], Employees and Director [Member], USD $)	1 Months Ended
	Apr. 30, 2014
Subsequent Event [Member] \| Employees and Director [Member]	'
Subsequent Event [Line Items]	'
Stock Issued During Period, Shares, New Issues	850,000
Stock Issued During Period, Value, New Issues	$115,600
Share Price	$0.14