Debt Issuance Costs

6 Months Ended

Jun. 30, 2014

Debt Issuance Costs [Abstract]

Debt Issuance Costs

6.           Debt Issuance Costs

Debt issuance costs consisted of the following at June 30, 2014 and December 31, 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 9 )		11,024			11,024
		175,253			134,490
Less: accumulated amortization		(138,826	)		(89,660	)
	$	36,427		$	44,830

Amortization expense of debt issuance costs for the three months and six months ended June 30, 2014 and 2013 amounted to $26,751, $22,415, $49,166 and $44,830, respectively, and is included in interest expense on the accompanying condensed consolidated statements of operations.