Annual report pursuant to Section 13 and 15(d)

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v2.4.1.9
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2014
Accounting Policies [Abstract]  
Carrying amount of the major classes of liabilities

 

    December 31, 2014     December 31, 2013  
 Assets of discontinued operations   $ -     $ -  
 Liabilities                
 Accounts payables and accrued expenses   $ (112,397 )   $ (112,397 )
 Liabilities of discontinued operations   $ (112,397 )   $ (112,397 )
Reconciliation of the derivative liability measured at fair value

 

 

Conversion feature

derivative liability

     Warrant liability     Total  
Balance at January 1, 2013   $ 14,996     $ 35,892     $ 50,888  
Reclassification of derivative liability upon conversion of debt to equity     (6,332 )      —       (6,332 )
Change in fair value included in earnings     (8,664 )     (23,950 )     (32,614 )
Balance at December 31, 2013     —       11,942       11,942  
Change in fair value included in earnings     —       (7,006 )     (7,006 )
Balance at December 31, 2014   $ —     $ 4,936     $ 4,936  

 
Dilutive securities

The following are dilutive common stock equivalents during the year ended:

 

    December 31, 2014     December 31, 2013  
 Convertible preferred stock     100,053,330       53,330  
 Stock Options     60,000       -  
 Stock Warrants     245,000       245,000  
   Total     100,358,330       298,330