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8. SHAREHOLDERS' EQUITY (DEFICIENCY) (Tables)

12 Months Ended

Dec. 31, 2013

Options [Member]

Summary of stock options outstanding

The following table summarizes stock options outstanding as of December 31, 2013:

		December 31, 2013
		Number of Options				Weighted Average Exercise Price
Outstanding, January 1, 2013			60,000			$	1.42
Granted			20,000				.15
Exercised			(20,000	)			.15
Outstanding, December 31, 2013			60,000			$	1.42

Options outstanding and exercisable by price range

Options outstanding and exercisable by price range as of December 31, 2013 were as follows:

								Average
								Weighted				Exercisable Options
								Remaining								Weighted
Outstanding Options								Contractual								Average
Range				Number				Life in Years				Number				Exercise Price

$	0.05				20,000				7.02				20,000			$	0.05
$	2.10				40,000				6.01				40,000			$	2.10

Warrant [Member]

Summary of outstanding common stock warrants

The following table summarizes the outstanding common stock warrants as of December 31, 2013:

		December 31, 2013
						Weighted Average
		Number of Warrants				Exercise Price
Outstanding, January 1, 2013			10,050,000			$	0.12
Granted			9,275,800				0.31
Exercised			-				-
Outstanding, December 31, 2013			19,325,800			$	0.21

Warrants outstanding and exercisable by price range

Warrants outstanding and exercisable by price range as of December 31, 2013 were as follows:

								Average
								Weighted				Exercisable Warrants
								Remaining								Weighted
Outstanding Warrants								Contractual								Average
Range				Number				Life in Years				Number				Exercise Price
$	0.01				1,575,000				3.53				1,575,000			$	0.01
$	0.05				975,000				3.62				975,000			$	0.05
$	0.15				7,750,000				3.80				7,750,000			$	0.15
$	0.261				100,000				4.49				100,000			$	0.261
$	0.30				8,625,800				4.58				8,625,800			$	0.30
$	0.77				300,000				4.74				100,000			$	0.77

Unvested warrants outstanding

Unvested warrants outstanding as of December 31, 2013 were as follows:

								Average
Unvested Warrants								Weighted
Weighted								Remaining
Average Exercise Price				Number				Contractual Life in Years
$	0.77				200,000				4.74

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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