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Debt Issuance Costs

12 Months Ended

Dec. 31, 2014

Debt Issuance Costs [Abstract]

Debt Issuance Costs

8. Debt Issuance Costs

Debt issuance costs consisted of the following at December 31, 2014 and 2013:

			2014				2013
	Financial advisor fee		$	108,000			$	108,000
	Legal fees			56,229				15,466
	Fair value of warrants issued (as disclosed in Note 15 )			11,024				11,024
				175,253				134,490
	Less: accumulated amortization			(149,234	)			(89,660	)
			$	26,019			$	44,830

Amortization expense of debt issuance costs for the years ended December 31, 2014 and 2013 amounted to $59,574 and $89,660, respectively, and is included in interest expense on the accompanying consolidated statements of operations. Future estimated amortization expense of deferred loan costs as of December 31, 2014 is as follows:

			For the year ending  December 31,
	2015		$	20,815
	2016			5,204
	Total		$	26,019

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The entire disclosure for all deferred loan costs.

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