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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2014

Summary of Significant Accounting Policies [Abstract]

Fair value, financial liabilities measured on recurring basis

Quoted Prices

In Active

Significant

Total

Markets for

Other

Significant

Carrying

Identical

Observable

Unobservable

Value as of

Assets

Inputs

Inputs

June 30,

Description

(Level 1)

(Level 2)

(Level 3)

2014

Derivative liabilities – warrant instruments

$

-

$

-

$

25,586,933

$

25,586,933

		Quoted Prices
		In Active				Significant								Total
		Markets for				Other				Significant				Carrying
		Identical				Observable				Unobservable				Value as of
		Assets				Inputs				Inputs				December 31,
Description		(Level 1)				(Level 2)				(Level 3)				2013
Derivative liabilities – warrant instruments		$	-			$	-			$	4,089,284			$	4,089,284
Derivative liabilities – Series A preferred stock			-				-				16,014,141				16,014,141
Total derivative liabilities		$	-			$	-			$	20,103,425			$	20,103,425

Fair value of the Company Level Three financial liabilities

		Significant Unobservable Inputs (Level 3)
		Six Month  Ended June 30,				Year  Ended  December 31,				Year Ended December 31,
		2014				2013				2012
Beginning balance		$	(20,103,425	)		$	(5,090,988	)		$	-
Change in fair value of derivative liabilities included in net loss for the six months ended June 30, 2014 and for the years ended  December 31, 2013 and 2012, respectively			(7,954,970	)			(12,877,675	)			(3,688,353	)
Additions– warrant instruments			(4,333,163	)			(373,699	)			(119,029	)
Transfer of warrant instruments to additional paid in capital			6,804,625				-				-
Additions – conversion feature of Series A preferred stock			-				(1,761,063	)			(1,283,606	)
Ending balance		$	(25,586,933	)		$	(20,103,425	)		$	(5,090,988	)

Summary of anti-dilutive securities

		Six Month Ended June 30, 2014				Year Ended December 31, 2013				Year Ended December 31, 2012
Class A convertible preferred stock			3,337,309				-				-
Series A preferred stock			-				136,041,275				8,503,503
Common stock warrants			43,144,557				89,265,160				4,.865,235
Common stock options			3,365,171				18,654,097				677,962
Total			49,847,037				243,960,532				14,046,700

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (c)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258



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Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 260

-SubTopic 10

-Section 50

-Paragraph 1

-Subparagraph (c)

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

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-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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