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6. CONVERTIBLE DEBT (Tables)
 3 Months Ended
Mar. 31, 2015
Notes to Financial Statements  
Convertible Notes potential future financing and fundamental transactions

Convertible Notes

 

    March 31,     December 31,        
    2015 (Unaudited)     2014     Inception  
Closing stock price   $ 0.50     $ 0.27       0.13-0.55  
Conversion price   $ 0.29     $ 0.29       0.29  
Expected volatility     134 %     114 %     185%-190 %
Remaining term (years)     0.33       0.58       2.30-2.07  
Risk-free rate     0.04 %     0.13 %     .25%-.43 %
Expected dividend yield     0 %     0 %     0 %

 

Warrant

 

    Inception  
Closing stock price     0.13-0.55  
Conversion price     0.30  
Expected volatility     250 %
Remaining term (years)     5.30-5.09  
Risk-free rate     .76% - (1.61 %)
Expected dividend yield     0 %
Convertible notes

   

March 31,

2015 (Unaudited)

    

December 31,

2014

  
             
Convertible notes   $ 5,074,000     $ 5,074,000  
Less: Debt discount     3,032,685       3,996,033  
Convertible notes, net   $ 2,041,315     $ 1,077,967