INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2015

Income Tax Disclosure [Abstract]

Reconciliation of Tax Rate

A reconciliation of our effective income tax rate compared to the U.S. federal statutory rate is as follows:

	Year ended  December 31, 2015			Year ended  December 31, 2014
Provision (benefit) at U.S. federal statutory rate		(34.0	)%		(34.0	)%
State provision (benefit), net of U.S. federal tax		(4.9	)		(4.9	)
Permanent differences		0.1			0.9
Other items		1.9			2.5
Deferred tax valuation allowance		(36.9	)		(35.5	)
Effective income tax rate		0.0	%		0.0	%

Schedule of Deferred Tax Assets

Net deferred tax assets consist of the following:

	December 31, 2015			December 31, 2014
Net federal and state operating loss carryforwards	$	18,513,698		$	16,912,223
Impairment of investments		531,470			531,470
Other, net		795,327			767,266
Deferred tax assets		19,840,495			18,210,959
Valuation allowance		(19,840,495	)		(18,210,959	)
Net deferred tax assets	$	-		$	-

Changes in the Valuation Allowance

Changes in the valuation allowance were as follows:

	Year ended  December 31,  2015		Year ended  December 31,  2014
Balance, beginning of year	$	18,210,959	$	16,967,149
Change in temporary differences		28,061		79,840
Change in net operating and capital losses		1,601,476		1,163,970
Balance, end of year	$	19,840,495	$	18,210,959