3. NEW ACCOUNTING PRONOUNCEMENTS

12 Months Ended

Dec. 31, 2014

Accounting Changes and Error Corrections [Abstract]

3. NEW ACCOUNTING PRONOUNCEMENTS

3. NEW ACCOUNTING PRONOUNCEMENTS

The Financial Accounting Standards Board (“FASB”) periodically issues new accounting standards in a continuing effort to improve standards of financial accounting and reporting. The Company has reviewed the recently issued pronouncements and concluded that there are no new accounting standards are applicable to the Company and will have a significant effect on the Company’s financial statements.