ACCRUED EXPENSES AND OTHER LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2015

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consist of the following:

	March 31, 2015		December 31, 2014
Royalties payable	$	319,417	$	314,787
Accrued compensation		75,981		23,573
Accrued interest payable		1,123,401		987,659
Other		257,242		264,163
Accrued expenses and other liabilities, net	$	1,776,041	$	1,590,182