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8. STOCKHOLDERS' EQUITY (DEFICIENCY) (Tables)

12 Months Ended

Dec. 31, 2014

Options [Member]

Options outstanding and exercisable by price range

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

$	2.10				40,000				5.01				40,000			$	2.10
$	0.05				20,000				6.02				20,000			$	0.05
					60,000								60,000

Warrant [Member]

Summary of stock options outstanding

		December 31, 2014				December 31, 2013
		Number of Warrants		Weighted Average Exercise Price		Number of Warrants		Weighted Average Exercise Price
Outstanding, beginning of year		60,000		$1.42		60,000		$1.42
Granted		20,000		0.44		20,000		0.15
Exercised		(20,000)		0.44		(20,000)		0.15
Outstanding, end of year		60,000		$1.42		60,000		$1.42

Summary of outstanding common stock warrants

		December 31, 2014				December 31, 2013
		Number of Warrants		Weighted Average Exercise Price		Number of Warrants		Weighted Average Exercise Price
Outstanding, beginning of year		19,325,800		$0.21		10,050,000		$0.12
Granted		15,325,608		0.30		9,275,800		0.31
Expired		(300,000)		0.77		-		-
Expired		(6,300,000)		0.30		-		-
Exercised		-		-		-		-
Outstanding, end of year		28,051,408		$0.23		19,325,800		$0.21

Warrants outstanding and exercisable by price range

Outstanding Warrants			Exercisable Warrants
Range	Number	Average Weighted Remaining Contractual Life in Years	Number	Weighted Average Exercise Price
$0.01	1,575,000	2.53	1,575,000	$0.01
$0.05	975,000	2.62	975,000	$0.05
$0.15	7,750,000	2.80	7,750,000	$0.15
$0.261	100,000	3.49	100,000	$0.261
$0.29	5,725,608	4.67	5,725,608	$0.29
$0.30	11,925,800	3.75	9,725,800	$0.30
	28,051,408		25,851,408

Unvested warrants outstanding

Unvested Warrants

Weighted

Average

Exercise Price

Number

Average

Weighted

Remaining

Contractual

Life in Years

$0.30

2,200,000

4.20

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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