| Schedule of convertible debt discount |
August Convertible Note Face Value | | $ | 616,000 | | Debt Discount | | | | | August Convertible Notes – Issued Warrant Derivative | | | 87,264 | | Conversion Feature Derivative | | | 25,827 | | Original Issue Discount | | | 66,000 | | Total Debt Discount | | $ | 179,091 | | Amortization of Debt Discount, as of December 31,
2013 | | | (38,933 | ) | Debt Discount, Net | | $ | 140,158 | | | | | | | | August Convertible Notes Carrying Value at December 31, 2013 | | $ | 475,842 | |
June Convertible Notes Face Value | | $ | 1,680,000 | | Debt Discount | | | | | June Convertible Notes – Issued Warrant Derivative | | | 752,126 | | Conversion Feature Derivative | | | 491,051 | | Original Issue Discount | | | 180,000 | | Total Debt Discount | | $ | 1,423,177 | | Amortization of Debt Discount, as of December 31, 2013 | | | (481,516 | ) | Debt Discount, Net | | $ | 941,661 | | | | | | | | June Convertible Notes Carrying Value at December 31, 2013 | | $ | 738,339 | |
|
| Schedule of deferred financing cost |
|
Legal fees and other fees associated with the August Convertible Notes offering
|
|
$
|
62,065
|
|
|
Total Deferred Financing Costs
|
|
$
|
62,065
|
|
|
Amortization of Deferred Financing Costs, as of December 31, 2013
|
|
|
(13,493
|
)
|
|
Deferred Financing Costs, Net, as of December 31, 2013
|
|
$
|
48,572
|
|
|
Placement agent and other fees associated with the June Convertible Notes offering
|
|
$
|
304,293 |
|
June Convertible Note Broker Warrants
|
|
|
60,886
|
|
|
Total Deferred Financing Costs
|
|
$
|
365,179
|
|
|
Amortization of Deferred Financing Costs, as of December 31, 2013
|
|
|
(123,554
|
)
|
|
Deferred Financing Costs, Net, as of December 31, 2013
|
|
$
|
241,625
|
|
|