DISCLOSURES ABOUT FAIR VALUE (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities measured at fair value on a recurring basis are summarized in the following tables according to FASB ASC 820 pricing levels.

	Fair Value Measurement Using
			Quoted prices
			in active		Significant
			markets of		other		Significant
			identical		observable		Unobservable
	Recorded		assets		inputs		Inputs
	value		(Level 1)		(Level 2)		(Level 3)
June 30, 2014
Assets:
Available-for-sale securities	$	35,362	$	35,362	$	-	$	-
Liabilities:
Embedded conversion feature	$	1,555,200	$	-	$	-	$	1,555,200
Warrant liability		179,300		-		-		179,300
	$	1,734,500	$	-	$	-	$	1,734,500
December 31, 2013
Assets:
Available-for-sale securities	$	55,112	$	55,112	$	-	$	-
Liabilities:
Embedded conversion feature	$	2,146,000	$	-	$	-	$	2,146,000

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets measured at fair value on a recurring basis using significant unobservable inputs during the three and six months ended June 30, 2014. The Company did not have any warrants or conversion feature financial assets for the three and six months ended June 30, 2013.

			Conversion
	Warrants		Feature		Total
Balance at January 1, 2014	$	-	$	2,146,000	$	2,146,000
Change in fair value of derivative liability		(1,200)		(703,000)		(704,200)
Amount included in debt discounts		111,300		181,400		292,700
Balance at June 30, 2014	$	110,100	$	1,624,400	$	1,734,500