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6. CONVERTIBLE DEBT (Tables)
 6 Months Ended
Jun. 30, 2013
Convertible Debt Tables  
Schedule of convertible debt

 

Convertible Notes

 

    June 30, 2013      Inception  
Closing stock price   $ 0.57     $ 0.13-0.55  
Conversion price   $ 0.29     $ 0.29  
Expected volatility     190 %     185%-190 %
Remaining term (years)     2.08       2.30-2.09  
Risk-free rate     0.38 %     0.25%-0.39 %
Expected dividend yield     0 %     0 %

 

Warrants

 

    June 30, 2013     Inception  
Closing stock price   $ 0.57     $ 0.13-0.55  
Exercise price   $ 0.30     $ 0.30  
Expected volatility     250 %     250 %
Remaining term (years)     5.08       5.30-5.09  
Risk-free rate     1.42       0.76%-1.40 %
Expected dividend yield     0 %     0 %

 
Schedule of convertible notes

Convertible notes consist of the following at June 30, 2013 and December 31, 2012:

 

    June 30, 2013     December 31, 2012  
             
Convertible notes   $ 4,874,000     $ -  
Discount on convertible notes     (4,874,000 )     -  
Accumulated amortization of discount     8,817       -  
Total convertible notes   $ 8,817     $ -