SUBSEQUENT EVENT

12 Months Ended

Dec. 31, 2014

Subsequent Events [Abstract]

SUBSEQUENT EVENT

18. SUBSEQUENT EVENT

From January 1, 2015 to June 23, 2015 the Company obtained additional funding, including $365,000 of equity funding and $257,000 of hybrid debt funding. From January 1, 2015 to June 23, 2015, the Company did a series of private offerings of its common stock and warrants, for consideration of $365,000. 1,825,000 shares of common stock were issued at a per share price of $0.20. The common stock holders were also issued warrants to purchase 912,500 shares of common stock. The warrants have an exercise price of $0.60 and a 3-year term. From January 1, 2015 to June 23, 2015, the Company did a series of private offerings of convertible notes and warrants, under which it issued $302,000 of convertible promissory notes for consideration of $257,000, the difference between the proceeds from the notes and principal amount consists of $45,000 of original issue discount. The notes are convertible at a conversion price of $0.20 per share. The note holders were also issued market-related warrants for 756,000 in shares of common stock. The warrants have an exercise price of $0.60 and a 1-year term.