10-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 10-Q

ý	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
	SECURITIES EXCHANGE ACT OF 1934
	For the quarterly period ended March 31, 2015
	OR
o	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
	SECURITIES EXCHANGE ACT OF 1934
	For the transition period from ______________ to ________________

Commission file number: 000-51134

MMRGLOBAL, INC.
(Exact name of Registrant as Specified in Its Charter)

DELAWARE	33-0892797
(State or Other Jurisdiction of Incorporation or Organization)	(I.R.S. Employer Identification No.)
4401 WILSHIRE BLVD., SUITE 200 LOS ANGELES, CA	90010
(Address of Principal Executive Offices)	(Zip Code)

(310) 476-7002
(Registrant's Telephone Number, Including Area Code)

(Former Name, Former Address and Former Fiscal Year, if Changed Since Last Report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

                  Yes x       No o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

                  Yes x       No o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.    

Large accelerated filer o             Accelerated filer o    
Non-accelerated filer o (Do not check if a smaller reporting company)             Smaller reporting company x

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).                   Yes o       No x

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: As of May 11, 2015, the issuer had 781,007,739 shares of common stock outstanding.

TABLE OF CONTENTS

		Page
Part I.	FINANCIAL INFORMATION	1
Item 1.	Condensed Consolidated Financial Statements - Unaudited	1
	Condensed Consolidated Balance Sheets at March 31, 2015 and December 31, 2014	1
	Condensed Consolidated Statements of Operations - Three Months Ended March 31, 2015 and March 31, 2014	2
	Condensed Consolidated Statements of Cash Flows - Three Months Ended March 31, 2015 and March 31, 2014	3
	Notes to Condensed Consolidated Financial Statements - Unaudited	4
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	13
Item 4.	Controls and Procedures	15
Part II.	OTHER INFORMATION	16
Item 1.	Legal Proceedings	16
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	16
Item 6.	Exhibits	16
Signatures		17

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PART I - FINANCIAL INFORMATION

Item 1. Condensed Consolidated Financial Statements - Unaudited

MMRGLOBAL, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS

		March 31,		December 31,
		2015		2014
		(unaudited)		(audited)
ASSETS
Current assets:
Cash and cash equivalents	$	-	$	309,393
Accounts receivable, less allowances of $173,591 in 2015 and 2014.		49,014		47,718
Inventory		13,537		13,537
Prepaid expenses and other current assets		160,734		162,184
Total current assets		223,285		532,832
Property and equipment, net		29,795		32,118
Intangible assets, net		1,797,797		1,790,622
Total assets	$	2,050,877	$	2,355,572
LIABILITIES AND STOCKHOLDERS' DEFICIT
Current liabilities:
Line of credit, related party	$	804,820	$	753,704
Related party payables		1,012,971		952,835
Compensation payable		539,459		491,109
Severance liability		620,613		620,613
Accounts payable and accrued expenses		4,835,140		4,668,960
Deferred revenue		47,120		51,312
Convertible notes payable		987,827		932,047
Notes payable, current portion		366,410		360,343
Notes payable, related party		253,664		253,664
Capital leases payable, current portion		13,221		13,221
Total current liabilities		9,481,245		9,097,808
Commitments and contingencies (See Note 9)
Stockholders' deficit:
Preferred stock - $0.001 par value, 5,000,000 shares authorized, 0 issued and outstanding		-		-
Common stock, $0.001 par value, 1,250,000,000 shares authorized, 778,972,739 and 774,417,739           shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively		778,766		774,211
Additional paid-in capital		56,486,468		56,437,812
Accumulated deficit		(64,695,602)		(63,954,259)
Total stockholders' deficit		(7,430,368)		(6,742,236)
Total liabilities and stockholders' deficit	$	2,050,877	$	2,355,572

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

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MMRGLOBAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)

		Three Months Ended
		March 31,
		2015		2014
Revenues
Subscriber	$	34,029	$	29,763
MMRPro		4,191		7,569
License fees		6,481		448,162
Total revenues		44,701		485,494
Cost of revenues		73,332		98,401
Gross (loss) profit		(28,631)		387,093
General and administrative expenses		461,992		1,429,980
Sales and marketing expenses		157,451		468,730
Technology development		-		24,783
Loss from operations		(648,074)		(1,536,401)
Interest and other finance charges, net		(93,269)		(112,952)
Net loss	$	(741,343)	$	(1,649,353)
Net loss available to common shareholders per share:
Basic and diluted	$	(0.00)	$	(0.00)
Weighted average common shares outstanding:
Basic		776,369,461		706,347,012
Diluted		776,369,461		706,347,012

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

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MMRGLOBAL, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

			Three Months Ended March 31,
			2015		2014
Operating activities:
Net loss		$	(741,343)	$	(1,649,352)
Adjustments to reconcile net loss to net cash
used in operating activities:
Depreciation and amortization			94,101		78,365
Warrants issued for services			5,490		38,721
Stock-based compensation			5,525		189,336
Common stock issued for services			13,000		222,847
Amortization of loan discount			55,780		69,766
Subtotal - Non-cash adjustments			173,896		599,035
Effect of changes in:
Accounts receivable			(1,296)		45,496
Prepaid expenses and other current assets			1,450		15,265
Accounts payable and accrued expenses			220,584		219,305
Related party payables			60,136		225,125
Compensation payable			48,350		94,518
Deferred revenue	`		(4,192)		(1,992)
Subtotal - net change in operating assets & liabilities			325,032		597,717
Net cash used in operating activities			(242,415)		(452,600)
Investing activities:
Purchase of property and equipment			(1,253)		-
Filing of patents			(97,700)		(75,979)
Costs of continuing MMRPro and website development			-		(32,021)
Net cash used in investing activities			(98,953)		(108,000)
Financing activities:
Proceeds from shares issued for financing activities			-		689,364
Proceeds from note payable			-		6,743
Proceeds (payments) of line of credit			11,196		(40,669)
Book overdraft			20,779		-
Payments of capital lease			-		(1,212)
Net cash provided by financing activities			31,975		654,226
Net increase (decrease) in cash			(309,393)		93,626
Cash, beginning of period			309,393		10,359
Cash, end of period		$	-	$	103,985
Supplemental disclosures of cash flow information:
Cash paid for interest		$	93,268	$	40,669
Cash paid for income taxes		$	1,675	$	1,600
Supplemental disclosure of non-cash investing and financing activities:
Conversion of convertible notes into common stock		$	-	$	190,000
Shares issued for reduction of payables		$	18,000	$	119,498

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements

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MMRGLOBAL, INC.
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
March 31, 2015

NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION

MMRGlobal Inc. (referred to herein, unless otherwise indicated, as "MMR," the "Company," the "issuer," "we," "us," and "our") was originally incorporated as Favrille, Inc. ("Favrille") in Delaware in 2000, and since its inception and before the Merger (as defined below), operated as a biopharmaceutical company focused on the development and commercialization of targeted immunotherapies for the treatment of cancer and other diseases of the immune system. In May 2008, Favrille's ongoing Phase 3 registration trial for the FavId vaccine failed to show a statistically significant improvement in the treatment of patients with follicular B-cell Non-Hodgkin's lymphoma. On January 27, 2009, the Company, through MyMedicalRecords, Inc. ("MMR Inc."), what is now our wholly-owned operating subsidiary, conducted a reverse merger with Favrille.

Through our wholly-owned operating subsidiary MMR Inc., the Company's primary business is to license and provide secure and easy-to-use online Personal Health Records ("PHR") and MyEsafeDepositBox storage solutions, including a professional offering to physicians' offices and similar organizations known as MMRPro. In January 2009, as a result of the Merger, we acquired biotech assets and other intellectual property including anti-CD20 antibodies as well as data and samples from the FavId/Specifid vaccine clinical trials for the treatment of B-cell Non-Hodgkin's lymphoma.

On March 8, 2011, we formed a subsidiary, which we named MMR Life Sciences Group, Inc., exclusively to maximize the value of our biotech assets including our patents, anti-CD 20 antibodies, and FavId vaccine technologies acquired by MyMedicalRecords, Inc. through the merger with Favrille. As of this date the assets have not been transferred to the subsidiary.

We (formerly Favrille) were incorporated in Delaware in 2000, MMR Inc. was incorporated in Delaware in 2005, and both are headquartered in Los Angeles, CA.

Principles of Consolidation

The consolidated financial statements include the accounts of MMRGlobal, and its wholly-owned subsidiaries MMR and MMR Life Sciences Group, Inc. All intercompany transactions and balances are eliminated upon consolidation.

Basis of Presentation

We have prepared the accompanying consolidated unaudited financial statements in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial statements and with instructions to Form 10-Q pursuant to the rules and regulations of Securities and Exchange Act of 1934, as amended, or the Exchange Act and Article 8-03 of Regulation S-X promulgated under the Exchange Act. Accordingly, these financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of our management, we have included all adjustments considered necessary (consisting of normal recurring adjustments) for a fair presentation. Operating results for the three months ended March 31, 2015 are not indicative of the results that may be expected for the fiscal year ending December 31, 2015. You should read these unaudited condensed consolidated financial statements in conjunction with the audited financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014.

Going Concern and Management's Plan

As of March 31, 2015, our current liabilities exceeded our current assets by $9.26 million. Furthermore, during the three months ended March 31, 2015, we incurred losses of $741,343, as further explained in Management's Discussion and Analysis of Financial Condition and Results of Operations appearing in Item 2 of Part I of this Quarterly Report on Form 10-Q.

At March 31, 2015 and December 31, 2014, we had $0 and $303,393, respectively, in cash and cash equivalents. Historically, we issued capital stock, sold convertible debt and equity securities and received funds from The RHL Group, Inc. (a significant stockholder that is wholly-owned by our Chairman and Chief Executive Officer, Robert H. Lorsch) to operate our business. Although we received additional funding from The RHL Group pursuant to the Ninth Amended and Restated Note effective April 29, 2014 (the "Line of Credit"), we will still be required to obtain additional financing in order to meet installment payment obligations and the previously existing obligations under the Line of Credit, which had a balance of $1.31 million at March 31, 2015 and a total Unpaid Balance (as defined in the Line of Credit) of $1.56 million, which includes amounts borrowed under the Line of Credit, unpaid interest fees, any amounts guaranteed by The RHL Group, and other obligations due the RHL Group pursuant to the terms of the Ninth Amended and Restated Note and the First Amended Security Agreement dated June 26, 2012 (the "Security Agreement"). As a result of the above, we express uncertainty about our ability to continue as a going concern. The components of the RHL Group Note payable and the related balance sheet presentation as of March 31, 2015 are as follows: $0.8 million, which is included in the line of credit, related party; and $0.51 million related to other obligations due to The RHL Group which are included in related party payables.

Management's plan regarding our going concern is to continue utilizing the Line of Credit. At March 31, 2015, there was approximately $2.92 million available under the Line of Credit. Furthermore, we plan to utilize portions of our standby equity facility with Granite State Capital LLC ("Granite") as needed. As of March 31, 2015, the amount available under the equity line facility was $13.1 million; however, that amount could be reduced based on the market price of our stock at the time any shares are sold. Finally, we plan to sell additional convertible debt and equity securities, settle our existing liabilities through the issuance of equity securities, explore other debt financing arrangements, increase our existing subscriber and affiliate customer base, sell our products and services, and collect licensing fees from parties utilizing our intellectual property to obtain additional cash flow over the next twelve months. There can be no assurance that funds from these sources will be available when needed or, if available, will be on terms favorable to us or to our stockholders. If additional funds are raised by issuing equity securities, the percentage of ownership of our stockholders will be reduced, stockholders will experience additional dilution and/or such equity securities may provide for rights, preferences or privileges senior to those of the holders of our common stock. If we are unable to utilize our Line of Credit, our equity facility with Granite, obtain suitable alternative debt or equity financing, or increase sales of our products of increase licensing fees from the use of our intellectual property, our ability to execute our business plan and continue as a going concern may be adversely affected.

These matters raise substantial doubt about our ability to continue as a going concern. These financial statements were prepared under the assumption that we will continue as a going concern and do not include any adjustments that might result from the outcome of that uncertainty.

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NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) MANAGEMENT'S USE OF ESTIMATES

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net revenue and expenses during each reporting period. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, allowances for doubtful accounts, the valuation of deferred income taxes, tax contingencies, long-lived and intangible assets, valuation of derivative liabilities and stock-based compensation. These estimates are based on historical experience and on various other factors that management believes to be reasonable under the circumstances, although actual results could differ from those estimates.

(b) CASH AND CASH EQUIVALENTS

We consider cash equivalents to be only those investments that are highly liquid, readily convertible to cash and with maturities of 90 days or less at the purchase date. We maintain our cash in bank deposit accounts that, at times, may exceed federally insured limits. We have not experienced any losses in such accounts and believe that we are not exposed to any significant credit or deposit risk on our cash. We had cash and cash equivalents of $0 and $303,393 as of March 31, 2015 and December 31, 2014, respectively.

(c) TRADE AND OTHER RECEIVABLES

Receivables represent claims against third parties that will be settled in cash. The carrying value of receivables, net of an allowance for doubtful accounts, if any, represents their estimated net realizable value. We estimate the allowance for doubtful accounts, if any, based on historical collection trends, type of customer, the age of outstanding receivables and existing economic conditions. If events or changes in circumstances indicate that specific receivable balances may be impaired, we give further consideration to the collectability of those balances and the allowance is adjusted accordingly. We write off past due receivable balances when collection efforts have been unsuccessful in collecting the amount due.

(d) INVENTORY

Inventory is stated at the actual cost, using the first-in-first-out method. On an on-going basis, we evaluate our inventory for obsolescence. This evaluation includes analysis of sales levels, sales projections, and purchases by item. If future demand or market conditions are different than our current estimates, an inventory adjustment may be required, and would be reflected in cost of goods sold in the period the revision is made.

(e) FAIR VALUE OF FINANCIAL INSTRUMENTS

ASC 820-10, Fair Value Measurements and Disclosures, requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of March 31, 2015 and December 31, 2014, the carrying value of accounts receivable, deposits, related party payables, compensation payable, severance liabilities, and accounts payable and accrued expenses approximates fair value due to the short-term nature of such instruments. The carrying value of short-term debt approximates fair value as the related interest rates approximate rates currently available to us.

We utilize ASC 820-10 for valuing financial assets and liabilities measured on a recurring basis. ASC 820-10 defines fair value, establishes a framework for measuring fair value and generally accepted accounting principles, and expands disclosures about fair value measurements. This standard applies in situations where other accounting pronouncements either permit or require fair value measurements. ASC 820-10 does not require any new fair value measurements.

Accounting guidance also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The standard describes three levels of inputs that may be used to measure fair value:

Level 1:	Quoted prices in active markets for identical or similar assets and liabilities.
Level 2:	Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets and liabilities.
Level 3:	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

(f) IMPAIRMENT OF LONG-LIVED ASSETS AND INTANGIBLES

We account for long-lived assets, which include property and equipment and identifiable intangible assets with finite useful lives (subject to amortization), in accordance with ASC 350-30. ASC 350-30 requires that we review long-lived assets for impairment whenever events or changes in circumstances indicate that we may not recover the carrying amount of an asset. We measure recoverability by comparing the carrying amount of an asset to the expected future undiscounted net cash flows generated by the asset. If we determine that the asset may not be recoverable, or if the carrying amount of an asset exceeds its estimated future undiscounted cash flows, we recognize an impairment charge to the extent of the difference between the fair value and the asset's carrying amount. Our assessment of the undiscounted future cash flows indicated that the carrying amount of the long-lived and intangible assets are recoverable, therefore, we had no impairment charges during the three months ended March 31, 2015 and 2014.

5

(g) REVENUE RECOGNITION

We generate our revenues from services, which are comprised of providing electronic access to consumer medical records and other vital documents, and from the licensing of our intellectual property and services. We recognize revenue only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed, and we are reasonably assured of collectability of the resulting receivable.

Our subscriber revenues consist of annual and monthly recurring retail subscriptions and usage-based fees, which are primarily paid in advance by credit card, and corporate accounts that are based on either an access-fee or actual number of users, and in each case billed in advance at the beginning of each month of service. We defer the portions of annual recurring subscription fees collected in advance and recognize them on a straight line basis over the subscription period.

We license the rights to use portions of our intellectual property portfolio, which includes certain patent rights essential to the sale of certain PHR products. Licensees typically pay a license fee in one or more installments and ongoing royalties based on their sales of products incorporating or using the Company's licensed intellectual property. License fees are recognized over the estimated period of benefit to the licensee, typically five to fifteen years. The Company earns royalties on such licensed products sold by its licensees at the time that the licensees' sales occur. The Company recognizes royalty revenues based on royalties reported by licensees during the quarter and when other revenue recognition criteria are met.

We grant exclusive and non-exclusive licenses for the sale and marketing of our services in international territories in consideration of license fees and ongoing royalties. The royalty fee is usually a percentage of revenue earned by the licensee and there are usually certain minimum guarantees. We defer the recognition of license fee revenues received in advance from international licensees for the grant of the license and recognize them over the period covered by the agreement. We defer the recognition of minimum guaranteed royalty payments received in advance and recognize them over the period to which the royalty relates. We include all such revenues under "License Fees." In those cases where a license agreement contains multiple deliverables, we account for the agreement in accordance with ASC 605-25 Revenue Recognition - Multiple-Element Arrangements.

We recognize revenue on sales of our MMRPro system in accordance with ASC 605-25, Revenue Recognition, Multiple-Element Arrangements.

Our multiple-deliverable arrangements consist solely of our MMRPro product. Significant deliverables within these arrangements include sophisticated scanning equipment, various licenses to use third party software, a license to use our proprietary MMRPro application software, installation and training, dedicated telephone lines, secure online storage and warranties.

We determined all elements to be separate units of accounting as they have standalone value to the customers and/or they are sold by other vendors on a standalone basis. Delivery of the hardware and certain software elements of these arrangements occur at the inception of the agreement. We deliver installation and training at the inception of the agreement. We provide other software licenses, telephone lines and online secure storage over the three year term of the agreement. We include warranties in the arrangements, however the third party product manufacturer, and not us, is obligated to fulfill such warranties. The third-party warranty contracts are paid in advance and are not refundable.

We allocate the revenue derived from these arrangements among all the deliverables. We base such allocation on the relative selling price of each deliverable. With the exception of our proprietary MMRPro application software, we use third party evidence to set the selling prices used for this allocation. In all such cases, third parties sell the same or very similar products. For the MMRPro application software, we estimate the selling price based on recent discussions regarding licensure of that particular application on a standalone basis. To date, we have not licensed this software on a standalone basis.

We recognize the allocated revenue for each deliverable in accordance with SEC Staff Accounting Bulletin ("SAB") No. 104, Topic 13: Revenue Recognition. Under this guidance, we recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed and determinable and collectability is reasonably assured. This results in us recognizing revenue for the hardware, certain software and the warranties upon delivery to the customer, for the installation and training upon completion of these services, and ratably over the contract period for the software licenses, telephone lines and online secure storage.

Revenue from the licensing of our biotech assets may include non-refundable license and up-front fees, non- refundable milestone payments that are triggered upon achievement of a specific event, and future royalties or lump-sum payments on sales of related products. For agreements that provide for milestone payments, such as our agreement with Celgene, we adopted ASC 605-28-25, Revenue Recognition Milestone Method.

(h) SHARE-BASED COMPENSATION

We account for share-based compensation in accordance with ASC 718-20, Awards Classified as Equity. We apply ASC 718- 20 in accounting for stock-based awards issued to employees under the recognition of compensation expense related to the fair value of employee share-based awards, including stock options and restricted stock. Determining the fair value of options at the grant date requires judgment, including estimating the expected term that stock options will be outstanding prior to exercise, the associated volatility and the expected dividends. Judgment is required in estimating the amount of share-based awards expected to be forfeited prior to vesting. If actual forfeitures differ significantly from these estimates, share-based compensation expense could be materially impacted.

We account for options and warrants issued to non-employees in accordance with ASC 505-50, Equity-Based Payments to Non-Employees. We treat options and warrants issued to non-employees the same as those issued to employees with the exception of determination of the measurement date. The measurement date is the earlier of (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty's performance is complete. Options and warrants granted to consultants are valued at their respective measurement dates, and recognized as an expense based on the portion of the total consulting services provided during the applicable period. As further consulting services are provided in future periods, we will revalue the associated options and warrants and recognize additional expense based on their then current values.

We estimate the fair value of each stock option on the date of grant using the Black-Scholes option pricing model. We determine assumptions relative to volatility and anticipated forfeitures at the time of grant. We valued grants of stock options and warrants during the three months ended March 31, 2015 and 2014 using the following assumptions.

	March 31, 2015	March 31, 2014
Expected life in years	2 - 5 Years	0 - 5 Years
Stock price volatility	120.51% - 122.72%	120.51% - 147.09%
Risk free interest rate	0.04% - 1.38%	0.12% - 0.13%
Expected dividends	None	None
Forfeiture rate	0%	0%

6

We base the assumptions used in the Black-Scholes models upon the following data: (1) our use of the contractual life of the underlying non-employee warrants as the expected life; the expected life of the employee options used in this calculation is the period of time the options are expected to be outstanding and has been determined based on historical exercise experience; (2) in the absence of an extensive public market for our shares, the expected stock price volatility of the underlying shares over the expected term of the option or warrant was taken at approximately the mid-point of the range for similar companies at the various grant dates; (3) we base the risk free interest rate on published U.S. Treasury Department interest rates for the expected terms of the underlying options or warrants; (4) we base expected dividends on historical dividend data and expected future dividend activity; and (5) we base the expected forfeiture rate on historical forfeiture activity and assumptions regarding future forfeitures based on the composition of current grantees.

(i) NET INCOME/LOSS PER SHARE

We apply the guidance of ASC 260-10, Earnings Per Share for calculating the basic and diluted loss per share. We calculate basic loss per share by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding. We compute diluted loss per share similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. We exclude common equivalent shares from the computation of net loss per share if their effect is anti-dilutive.

We excluded all potential anti-dilutive common shares from the computation of diluted net loss per common share for the three months ended March 31, 2015 and 2014 because they were anti-dilutive due to our net loss position. Stock options, warrants and convertible notes excluded from the computation totaled 148,955,582 shares for the three months ended March 31, 2015 and 85,972,884 shares for the three months ended March 31, 2014, respectively.

(j) RECENT ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. This new guidance is effective for the Company in the first quarter of 2017, with no early adoption permitted. The standard permits the use of either the retrospective or cumulative effect transition method. At this time we have not selected a transition method. We are currently evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures.

In August 2014, the FABS issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). ASU 2014-15 will explicitly require management to assess an entity's ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. The new standard will be effective for all entities in the first annual period ending after December 15, 2016. Earlier adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2014-15. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

NOTE 3 - RELATED PARTY PAYABLES, LINE OF CREDIT AND NOTE PAYABLE

On July 10, 2014, we and The RHL Group entered into a Ninth Amended and Restated Promissory Note (the "Amended Note"), effective as of April 29, 2014. The Amended Note amends and restates that certain Eighth Amended Note entered into between the foregoing parties, effective April, 29, 2014 (the " Existing Note " and together with its predecessor notes and the Amended Note, the " Credit Facility "), by: (i) extending the maturity date to April 29, 2015. In connection with the Ninth Amended Note, we issued The RHL Group warrants to purchase 2,781,561 shares of our common stock at $0.035 per share on July 10, 2014. Except as set forth above, the Amended Note does not materially alter the terms of the Existing Note. The Board of Directors has authorized the renewal of the Ninth Amended Note and we are currently in the process of such renewal.

Historically, the predecessor notes have increased over time the maximum amount of credit available under the Credit Facility from $100,000 to $1,000,000 to $3,000,000 to $4,500,000. The maximum amount of the Amended Note is $4,500,000. The Amended Note continues to bear interest at the lesser of 10% or the highest rate then permitted by law, and is secured (similar to the Existing Note) by a Security Agreement, which has been in effect since July 31, 2007, as renewed and amended to date (the "Security Agreement").

The Ninth Amended Note had a balance of $1.31 million at March 31, 2015. The components of the Ninth Amended Note and the related balance sheet presentation as of March 31, 2015 are as follows: $0.8 million, which is included in the line of credit, related party; and $0.51 million for other obligations due to The RHL Group, which is included in related party payables.

Total interest expense on the Line of Credit for the three months ended March 31, 2015 and 2014 amounted to $30,676 and $35,112, respectively. The unpaid interest balances as of March 31, 2015 and December 31, 2014 were $60,257 and $30,160, respectively.

In conjunction with the Ninth Amended Note, we were required to maintain certain financial covenants, including the requirement that we have at least $200,000 of cash in our bank accounts or such other amount as necessary to maintain operations through the subsequent thirty (30) days and timely pay any obligations due respecting payroll and all associated payroll taxes on and after March 31, 2015. Since we did not meet these covenants as of March 31, 2015, we received a waiver from The RHL Group until May 22, 2015.

NOTE 4 - INCOME TAXES

Under ASC 740-270, Income Taxes - Interim Reporting, we are required to adjust our effective tax rate each quarter to be consistent with the estimated annual effective tax rate. We are also required to record the tax impact of certain discrete items, unusual or infrequently occurring, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur. In addition, we exclude jurisdictions with a projected loss for the year or a year-to-date loss where we cannot recognize a tax benefit from our estimated annual effective tax rate. The impact of such an exclusion could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings versus annual projections.

Pursuant to ASC 740, Income Taxes, we performed an analysis of previous tax filings and determined that there were no positions taken that it considered uncertain. Therefore, there were no unrecognized tax benefits As of March 31, 2015.

MMR Inc., in its capacity as the operating company taking over our income tax positions in addition to its own positions after January 27, 2009 (see Note 1), has estimated its annual effective tax rate to be zero. MMRGlobal has based this on an expectation that the combined entity will generate net operating losses in 2015, and it is not likely that those losses will be recovered using future taxable income. Therefore, no provision for income tax has been recorded as of and for the three months ended March 31, 2015.

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NOTE 5 - COMMITMENTS AND CONTINGENCIES

Leases

Effective September 1, 2013, we renewed our lease for office space in Los Angeles, California with a term through August 31, 2018. The lease currently requires a monthly payment of $8,250. Total rent expense for the three months ended March 31, 2015 and 2014 were $30,670 and $33,000 respectively. Future minimum lease payments as of March 31, 2015, under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) are as follows:

Year Ending		Operating		Capital
December 31,		Leases		Leases
2015 (Remainder of)	$	170,500	$	13,221
2016		187,550		-
2017		206,305		-
2018		146,410		-
		710,765		13,221
Less current portion		-		(13,221)
Total minimum lease payments	$	710,765	$	-

Litigation Matters

From time to time, we are involved in various legal proceedings generally incidental to our business. While the result of any litigation contains an element of uncertainty, our management presently believes that the outcome of any known, pending or threatened legal proceeding or claim, individually or combined, will not have a material adverse effect on our financial statements.

On December 9, 2011, MyMedicalRecords, Inc. entered into a Non-Exclusive Settlement and Patent License Agreement with Surgery Center Management LLC ("SCM"). In consideration for the rights granted under that Agreement and in consideration of a settlement and release agreement, SCM contracted to pay MyMedicalRecords, Inc. an initial payment of $5 million payable on December 23, 2011, and additional payments of $5 million per year for five consecutive years. After unsuccessful attempts to collect the past due amount of $5 million, on January 19, 2012, MyMedicalRecords, Inc. filed a lawsuit in the Superior Court of the State of California for the County of Los Angeles for breach of contract and it intends to seek $30 million in damages. On February 13, 2014, SCM filed an answer to the complaint and a cross-complaint alleging claims for breach of that contract, among other things. On July 10, 2014, the court granted SCM's motion for summary adjudication on the claim for breach of contract in the complaint and its counterclaim for declaratory relief. On July 30, 2014, SCM filed its second amended cross-complaint, alleging substantially the same claims against the same parties. On December 5, 2014, the Court of Appeal issued an Alternative Writ of Mandate, finding the trial court erred in granting [SCM's] motion for summary adjudication. Pursuant to the Court of Appeal's Alternative Writ, on January 7, 2015, the trial court vacated its order granting SCM's motion for summary adjudication. On April 24, 2015, the trial court held a new hearing on that motion, and it entered an order denying SCM's motion in its entirety. MyMedicalRecords, Inc. will continue to pursue its claim and defenses, but the Company cannot predict the chances of either a favorable or unfavorable outcome, nor does the Company have sufficient information regarding its ability to collect any judgment MyMedicalRecords, Inc. may obtain.

On April 10, 2013, MMR filed a complaint for patent infringement against Quest Diagnostics Inc. ("Quest") in the United States District Court for the Central District of California, alleging that Quest Diagnostics Inc. is infringing U.S. Patent No. 8,301,466. On October 11, 2013, MMR filed an unopposed motion to add a claim of infringement of U.S. Patent 8,498,883 to its complaint against Quest, which was granted on October 29, 2013. MMR is seeking damages from Quest. On December 22 and 23, 2014, the Court entered orders finding that the eight claims asserted (of the 42 total claims present) under the two asserted MMR patents were invalid. MMR is appealing those orders to the U.S. Court of Appeals for the Federal Circuit. Quest has agreed to stay the filing of fees and costs until resolution of the appeal.

On February 11, 2013, MMR filed a complaint for patent infringement against WebMD Health Corp. and its wholly owned subsidiary WebMD Health Services Group, Inc. (collectively, "WebMD"), titled MyMedicalRecords, Inc. v. WebMD Health Corp et al., United States District Court, Central District of California. That complaint alleged that WebMD is infringing MMR's Personal Health Records patent U.S. Patent No. 8,301,466. MMR is seeking damages against WebMD. On October 2, 2013, MMR filed a new complaint against WebMD in the United States District Court for the Central District of California, alleging infringement of U.S. Patent Nos. 8,301,466 and 8,498,883. On December 22 and 23, 2014, the Court entered orders finding that the eight claims asserted (of the 42 total claims present) under the two asserted MMR patents were invalid. MMR is appealing those orders to the U.S. Court of Appeals for the Federal Circuit. WebMD has filed a motion to recover fees and costs, which MMR opposes.

On May 17, 2013, MMR filed a complaint for patent infringement against Jardogs, LLC (the "Jardogs Complaint") in the United States District Court for the Central District of California, alleging that Jardogs, LLC infringes U.S. Patent No. 8,301,466. On September 23, 2013, MMR filed a separate complaint for patent infringement against Allscripts Healthcare Solutions Inc. ("Allscripts") titled MyMedicalRecords, Inc. v. Allscripts Healthcare Solutions Inc., United States District Court, Central District of California (the "Separate Allscripts Complaint"). The Separate Allscripts Complaint alleged that Allscripts is infringing U.S. Patent Nos. 8,301,466 and 8,498,883. On October 4, 2013, MMR filed a motion to amend the Jardogs Complaint to add Allscripts as a party defendant and to allege that Allscripts is infringing U.S. Patent Nos. 8,301,466 and 8,498,883. The Court granted that motion on November 1, 2013. Thereafter, MMR dismissed the Separate Allscripts Complaint. MMR is seeking damages for patent infringement from both Jardogs and Allscripts. On December 22 and 23, 2014, the Court entered orders finding that the eight claims asserted (of the 42 total claims present) under the two asserted MMR patents were invalid. MMR is appealing those orders to the U.S. Court of Appeals for the Federal Circuit. Allscripts has filed a motion to recover fees and costs, which MMR opposes. Allscripts also filed a Covered Business Method ("CBM") petition on November 3, 2014, before the Patent Trial and Appeal Board ("PTAB') alleging that claims 8-12 of U.S. Patent No. 8,301,466 are invalid. MMR filed a preliminary response on February 20, 2015. On May 5th the PTAB decided to implement the CBM.

On April 2, 2015, the Company and Stradling Yocca Carlson & Rauth, P.C. ("SYCR"), received a letter from a mediator in regards to disputes over amounts of monies due SYCR regarding prior services rendered. SYCR and the Company have agreed to a mediation of the matter, however at this time a mediation date has not been set. As of the date hereof, the Company cannot predict the chances of either a favorable or unfavorable outcome.

On August 14, 2013, Gemini Master Fund, Ltd. purchased a convertible note from the Company. On or about February 23, 2015, Gemini filed an action against the Company for breach of contract seeking damages allegedly owed pursuant to the convertible note in the amount of $210,000 in the United States District Court for the Southern District of New York. MMR disputes it owes this amount. The litigation recently commenced and the Company cannot predict the chances of either a favorable or an unfavorable outcome.

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NOTE 6 - STOCKHOLDERS' DEFICIT

Preferred Stock

We have 5,000,000 shares of preferred stock authorized. As of March 31, 2015, and December 31, 2014, there were no shares of preferred stock issued and outstanding.

Common Stock

As of March 31, 2015, we are authorized to issue 1,250,000,000 shares of common stock.

On May 24, 2012, we filed a registration statement on Form S-1 related to the offer and resale of up to 100,000,000 shares of our common stock by Granite. Granite has agreed to purchase all 100,000,000 shares offered sale under the registration statement, and an additional 1,000,000 shares were issued to Granite as partial consideration for the preparation of the documents related to the registration statement. Subject to the terms and conditions of the agreement with Granite, we have the right to put up to $15 million in shares of our common stock to Granite. As of March 31, 2015, the amount available under the equity line facility was $13.1 million; however, that amount could be reduced based on the market price of our stock at the time any shares are sold.

As of March 31, 2015, the total shares of our common stock issued and outstanding amounted to 778,972,739.

NOTE 7 - EQUITY ISSUANCES

Stock Option Activity

Our 2001 Equity Incentive Plan (the "2001 Plan") expired on June 5, 2011 and no options were issued under the 2001 Plan since that date. As of March 31, 2015, 14,184,557 shares remain issued under the 2001 Plan.

On September 1, 2011, our Board of Directors approved the adoption of a new plan to replace the 2001 Plan under the same general terms as the 2001 Plan. On June 20, 2012, our stockholders voted and approved the 2011 Equity Incentive Plan (the " 2011 Plan") at our 2012 Annual Stockholder Meeting. As of March 31, 2015, 23.36 million shares remain issued under the 2011 Plan, and 36.45 million shares of our common stock are reserved for future issuance under our 2011 Plan, which includes an automatic 5 million share annual increase pursuant to the terms of the 2011 Plan and a 20 million share increase authorized during our 2013 Annual Stockholder's Meeting.

A summary of option activity for the three months ended March 31, 2015 is presented below. Options granted by MMR Inc. prior to the date of the Merger have been retroactively restated to reflect the conversion ratio of MMR Inc. to MMR shares.

				Weighted-
				Average
			Weighted-	Remaining
			Average	Contractual		Aggregate
			Exercise	Life		Intrinsic
	Options		Price	(Years)		Value
Outstanding at December 31, 2014	37,541,722	$	0.10	4.29	$	-
Granted	-	$	-	-	$	-
Exercised	-	$	-	-	$	-
Cancelled	-	$	-	-	$	-
Outstanding at March 31, 2015 (Unaudited)	37,541,722	$	0.10	4.37	$	-
Vested and expected to vest
at March 31, 2015 (Unaudited)	37,541,722	$	0.10	4.37	$	-
Exercisable at March 31, 2015 (Unaudited)	36,841,722	$	0.10	4.36	$	-

The aggregate intrinsic value in the table above is before applicable income taxes and is calculated based on the difference between the exercise price of the options and the quoted price of the common stock as of the reporting date.

There were no options issued during the three months ended March 31, 2015.

Total stock option expenses recorded during the three months ended March 31, 2015 and 2014 were $5,525 and $69,961, respectively.

The following table summarizes information about stock options outstanding and exercisable at March 31, 2015.

		Options Outstanding				Options Exercisable
			Weighted		Weighted		Weighted		Weighted
			Average		Average		Average		Average
	Exercise	Number	Remaining		Exercise	Number	Remaining		Exercise
	Price	of Shares	Life (Years)		Price	of Shares	Life (Years)		Price
$	0.05 - 0.08	12,900,000	6.56	$	0.07	12,200,000	6.47	$	0.06
$	0.08 - 0.15	23,011,461	3.20	$	0.11	23,011,461	3.20	$	0.11
$	> 0.15	1,630,261	3.64	$	0.18	1,630,261	3.64	$	0.18
		37,541,722				36,841,722

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Warrants

There were no warrants issued during the three months ended March 31, 2015.

A summary of the activity of our warrants for the three months ended March 31, 2015 is presented below:

			Weighted Avg
	Shares		Exercise Price
Outstanding at December 31, 2014	70,028,410	$	0.06
Granted	-	$	-
Exercised	-	$	-
Cancelled	(4,750,000)	$	0.08
Outstanding at March 31, 2015 (Unaudited)	65,278,410	$	0.06
Exercisable at March 31, 2015 (Unaudited)	61,754,799	$	0.06

Total warrant expenses recorded during the three months ended March 31, 2015and 2014 were $5,490 and $38,721, respectively.

The following summarizes the total warrants outstanding and exercisable as of March 31, 2015:

	Warrants Outstanding				Warrants Exercisable
	Warrants	Weighted Avg		Weighted Avg	Warrants	Weighted Avg		Weighted Avg
Ranges	Outstanding	Remaining Life		Exercise Price	Exercisable	Remaining Life		Exercise Price
$0.02 - $0.06	47,299,348	2.07	$	0.04	45,775,737	2.07	$	0.04
$0.06 - $0.10	5,025,000	0.85	$	0.10	4,025,000	0.55	$	0.10
Greater - $0.10	12,954,062	1.38	$	0.15	11,954,062	1.43	$	0.15
	65,278,410				61,754,799

The inputs used for the Black-Scholes option and warrant valuation model were as follows:

	March 31, 2015	March 31, 2014
Expected life in years	2 - 5 Years	0 - 5 Years
Stock price volatility	120.51% - 122.72%	120.51% - 147.09%
Risk free interest rate	0.04% - 1.38%	0.12% - 0.13%
Expected dividends	None	None
Forfeiture rate	0%	0%

Shares Issued for Services or Reduction to Liabilities

During the three months ended March 31, 2015, we issued 3,000,000 shares of common stock with a value of $31,000 to various third parties and charged the proceeds to the appropriate accounts for the following reasons:

	Three Months Ended March 31, 2015
Purpose	Shares		Value
Reduction of payables	2,000,000	$	18,000
Services provided	1,000,000		13,000
Totals	3,000,000	$	31,000

The 3,000,000 issued shares were not contractually restricted. However, as these shares have not been registered under the Securities Act of 1933, as amended (the "Act"), they are restricted from sale until they are registered under the Act, or qualify for resale under the rules promulgated under the Act. All such shares were calculated at the trading closing price on the date of issuance.

Stock Bonus Agreements

From time to time, we issue shares of our common stock as a bonus for services rendered. Stock bonuses may be awarded upon satisfaction of specified performance goals pursuant to the Performance Stock Bonus Agreement.

On each grant date, we valued the stock bonus based on the share price and the expenses were amortized using the straight line method. Total stock bonus expenses recorded during the three months ended March 31, 2015 and 2014 were $0 and $ 119,375, respectively and are reflected in operating expenses in the accompanying consolidated statements of operations.

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NOTE 8 - NOTES PAYABLE

Notes payable consisted of the following:

		March 31,		December 31,
		2015		2014
Promissory notes payable due to the former officers of MMRGlobal as part of severance packages, due in full on August 31, 2009, with no stated interest	$	76,783	$	76,783
Promissory notes payable due to the former officers of MMRGlobal pursuant to the Resignation and Post-Merger Employment Arrangement, due in full on August 31, 2009, with no stated interest		25,444		25,444
Promissory notes payable due to vendors relating to settlement of certain outstanding accounts payable, payable in 18 equal monthly installments commencing on July 27, 2009 and ending on January 27, 2011, with no stated interest		223,116		223,116
Short term loan due to a third-party with 6% interest		35,000		35,000
		360,343		360,343
Less: current portion		(360,343)		(360,343)
Notes payable, less current portion	$	-	$	-
Short term loan due to a related-party, payable in full on January 2, 2014 with 12% interest	$	203,664	$	203,664
Short term loan due to a related-party, payable in full on May 31, 2014 with 12% interest		50,000		50,000
Notes payable related party, current portion		253,664		253,664
Less: current portion		(253,664)		(253,664)
Notes payable related party, less current portion	$	-	$	-

NOTE 9 - CONVERTIBLE PROMISSORY NOTES

From time to time, we issue Convertible Promissory Notes. As of March31, 2015, a total of $987,827 in convertible notes remained outstanding. As of March 31, 2015, $811,857 of these Notes have matured, however, the Company and the Holders have agreed to keep the balance as a Note Payable and the note holders have elected not to convert their note balances into shares of our common stock as of March 31, 2015.

Each Note contains the following general terms and provisions:

• The principal amount owed under each note becomes due and payable one year or less from the investment date provided that, upon ten (10) days' prior written notice to the holder, we may, in our sole discretion, extend the maturity date for an additional six month term. The Notes can be further extended upon mutual agreement.
• These notes bear interest at a rate of 6% per annum payable in cash or shares of common stock or a combination of cash and shares of common stock at our option.

During the first quarter of 2015, we did not enter into any Convertible Promissory Notes.

Shares issuable upon conversion for convertible notes payable was 76,679,061 as of March 31, 2015.

The total interest expense attributed to the Beneficial Conversion Feature of the Notes and related warrants for the three months ended March 31, 2015 and 2014 was $22,780 and $69,765, respectively.

NOTE 10 - RESTRUCTURING ACTIVITIES

From May 29, 2008 to November 7, 2008, Favrille, Inc. had provided notices under the Federal Worker Adjustment and Retraining Notification Act to 142 employees, including six members of senior management, that it planned to conduct a workforce reduction at its facility in San Diego, California and that their employment was expected to end on various dates between June 6, 2008 to November 7, 2008. Immediately prior to the date of the Merger on January 27, 2009, the total severance liability relating to former Favrille employees amounted to $1,682,416. On January 27, 2009, immediately prior to the Merger, as part of the 9,999,992 warrants issued to creditors, we issued warrants as settlement of $985,020 of these amounts. These warrants expired unexercised as of March 31, 2014. In addition, we signed promissory notes with certain former executives totaling $76,783.

As of March 31, 2015, the total remaining severance liabilities amounted to $620,613, which is reflected as severance liability on the accompanying consolidated balance sheets. This consists of $571,362 payable to former non-executive employees in 18 monthly installments starting on July 27, 2009, as well as $49,251 in estimated payroll tax.

During the period from January 27, 2009 through June 30, 2009, we entered into a series of settlement agreements with certain vendors of Favrille pursuant to the Creditor Plan, pursuant to which we settled $302,982 of its outstanding accounts payable for an aggregate settlement amount of $214,402, including promissory notes of $139,355.

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NOTE 11 - RELATED PARTY TRANSACTIONS

Our Chairman and Chief Executive Officer, Robert H. Lorsch, is also the Chief Executive Officer of The RHL Group, Inc. and has full voting power over all of the capital stock of The RHL Group, Inc. Mr. Lorsch directly and indirectly through The RHL Group, Inc., beneficially owns approximately 13.1% our total outstanding voting stock. The RHL Group, Inc. has loaned us money pursuant to the Ninth Amended Note and all predecessor notes. See Note 3 - Related Party Note Payable above.

The RHL Group is an investment holding company which provides consulting, operational and technical services to us, which we refer to as the RHL Services. As part of the RHL Services, The RHL Group provides us with unrestricted access to its internal business and relationship contact database of more than 10,000 persons and entities, which includes clients of The RHL Group and other individuals which may hold value to us. The RHL Group also provides infrastructure support to us, including allowing us unlimited access to its facilities, equipment, and data, information management and server systems. In addition to allowing us the use of its office support personnel, The RHL Group has also consented to allow us to utilize the full-time services of Mr. Lorsch as our President, Chairman and Chief Executive Officer, which requires substantial time and energy away from his required duties as The RHL Group's Chairman and Chief Executive Officer. In addition, The RHL Group has made its President, Kira Reed, available as our spokesperson. Ms. Reed, who is Mr. Lorsch's spouse, also manages our social networking activities.

In consideration for the above, The RHL Group, Inc. has a consulting arrangement with MMR. A copy of the consulting agreement is filed as an exhibit in our Form 8-K, as filed with the SEC on May 4, 2009 and is hereby incorporated by reference.

We incurred $12,500 during the three months ended March 31, 2015 and 2014, toward marketing consulting services from Bernard Stolar, a director. We included $192,532 and $174,273 in related party payables as of March 31, 2015 and December 31, 2014, respectively, in connection with these services and board fees.

We contract with a significant vendor for the development and maintenance of the software applications necessary to run our MyMedicalRecords PHR, MyEsafeDepositBox and MyMedicalRecords Pro products. Our outside developer supports our software development needs through a team of software engineers, programmers, quality control personnel and testers, who work with our internal product development team on all aspects of application development, design, integration and support of our products. This vendor is also a stockholder. For the three months ended March 31, 2015 and 2014, the total expenses relating to this stockholder amounted to $30,000 and $30,000, respectively. In addition, we capitalized $0 of software development costs for the quarter ended March 31, 2015. As of March 31, 2015 and December 31, 2014, the total amounts due to the stockholder and included in related party payables amounted to $40,000 and $10,000, respectively.

On September 15, 2009, we entered into a five year agreement with E-Mail Frequency, LLC and David Loftus, Managing Partner of E-Mail Frequency, LLC, a significant stockholder of the Company. We licensed an existing 80 million person direct marketing database (the "Database") of street addresses, cellular phone numbers, e-mail addresses and other comprehensive data with E-Mail Frequency. The agreement allows us to market, through the use of the Database, our MyMedicalRecords PHR, MyEsafeDepositBox virtual vault, and MMRPro document management system to physicians and their patients. Under the terms of the Agreement, we paid $250,000 to David Loftus as a one-time consulting fee in the form of 2,777,778 shares of our common stock. We recorded the $250,000 one-time licensee fee as a prepaid consulting fee. Amortization expense for each of the quarters ended March 31, 2015 and 2014 was $0 and $12,500. In addition, we incurred a total of $0 during the quarters ended March 31, 2015 and 2014, toward convertible notes interest to Mr. Loftus. We included in related party payables at March 31, 2015 and December 31, 2014 of $64,615 and $64,615, respectively, in respect to these services. Effective September 1, 2011, we signed an Amendment to the Agreement dated September 15, 2009 to provide licensor a non-exclusive right to target, market and exploit the Employee Benefits market.

NOTE 12 - SUBSEQUENT EVENTS

On May 11, 2015, Jack Zwissig resigned from the Board of Directors of the Company, effective immediately. Also on the same date, the Board nominated Titus Day to serve on the Board to fill Mr. Zwissig's vacancy. Mr. Day accepted his appointment, effective immediately.

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Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

You should read the following discussion of our financial condition and results of operations in conjunction with our financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q and the description of our business appearing in our Annual Report on Form 10-K for the year ended December 31, 2014, filed with the SEC on March 31, 2015, as amended by Form 10-K/A for the year ended December 31, 2014, as filed with the SEC on April 30, 2015 (together, the "Form 10-K"). This discussion contains forward-looking statements, which inherently involve risks and uncertainties. Please see "Cautionary Note Regarding Forward-Looking Statements" below. Our actual results could differ materially from those anticipated in these forward-looking statements for many reasons, including the risks faced by us described in "Risk Factors" in Item 1A of the Form 10-K.

Cautionary Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q contains certain forward-looking statements. The words "anticipate," "expect," "believe," "plan," "intend," "will" and similar expressions are intended to identify such statements. Although the forward-looking statements in this Quarterly Report on Form 10-Q reflects the good faith judgment of our management, such statements are subject to various risks and uncertainties, including but not limited to the risks identified in our Form 10-K and in our press releases and other filings with the SEC.

Assumptions related to forward-looking statements involve judgments with respect to, among other things, future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond our control. Any of such assumptions could be inaccurate. You should not place undue reliance on these forward-looking statements, which are based on our current views and assumptions. In evaluating these statements, you should specifically consider various factors, including the foregoing risks and those outlined under "Risk Factors" in Item 1A of the Form 10-K. Our forward-looking statements represent estimates and assumptions only as of the date of this Quarterly Report on Form 10-Q. Except as required by law, we undertake no obligation to update any forward-looking statement to reflect events or circumstances occurring after the date of this Quarterly Report on Form 10-Q.

Overview

Background

We provide secure and easy-to-use online Personal Health Records ("PHRs") electronic safe deposit box storage solutions, and document management and imaging systems for healthcare professionals

Source of Revenues

MMR remains focused on its primary Health IT business of selling the MyMedicalRecords PHR and MMRPro document and imaging systems for healthcare professionals. We derive revenues from the provision of services, which are comprised of facilitating electronic access to consumer medical records and other vital documents through subscribers on a direct subscription basis or an "access" basis through various types of organizations including direct sales, affinity and membership groups, healthcare organizations and retailers, and in both cases, we record these revenues under "Subscriber" in our income statement. We also sell direct to consumers through paid advertising or other per enquiry marketing relationships. When sold to corporations, affinity and membership organizations, hospitals and other business to business customers, we charge a minimum monthly fee plus user fees to the organization based on the number of users who will have access to our services through such organization, whether or not such users actually activate their authorized account. During the three months ended March 31, 2015, we received $34,029 from subscriber revenues.

In addition, MMR has numerous patents issued, pending or applied for pertaining to provisioning of online medical and Personal Health Records in 12 countries of commercial interest including the U.S., and defends its global intellectual property rights through the filing of patent infringement complaints.

We also generate revenues from the licensing of our Health IT and biotech assets, which may include non-refundable license and up-front fees, non-refundable milestone payments that are triggered upon achievement of a specific event and future royalties or lump-sum payments on sales of related products. We record these licensing revenues under "License Fees" in our income statement. We are sometimes paid an upfront license fee and milestone payments and we recognize those fees as revenue as payments are received. We will record those fees as revenue when payments are received. During the three months ended March 31, 2015, we received $6,481 from license fees revenues.

We also have generated revenues from licensing the sale and marketing of our services internationally and, to a lesser extent, from ancillary fee payments including web and marketing development services, amongst others. We record these licensing revenues under "License Fees" and other ancillary revenues under "Other Revenues" in our income statement. When we enter into a licensing arrangement, we are sometimes paid an upfront license fee and typically receive ongoing royalty payments that are often based on a percentage of revenue earned by our licensee. We recognize these fees over the license period. When we receive ancillary one-time payments, we record them when services or products are delivered.

Cost of Revenue

Our cost of revenue includes the cost of manufacturing our retail product and related packaging, maintaining our voice and fax mailboxes, long-distance call transport costs, fax and voice call processing costs, credit card transaction processing costs, web hosting and management fees, website maintenance and support costs, costs associated with creating and mailing enrollment packages to our subscribers and the cost of scanners. Cost of revenue also includes customer service costs. We also charge to cost of revenue our direct selling costs, which include commissions paid to sales representatives who sell our wholesale and access based accounts.

Operating Expenses

The largest component of our operating expenses is our general and administrative expenses, which include personnel salaries and benefits, office rent and supplies, insurance costs, fees for legal and professional services, as well as our expenses for corporate telecommunications and internet access not associated with our products. Our operating expenses also include sales and marketing expenses (which include expenses associated with attending trade shows and travel costs, as well as a portion of personnel salaries allocated to sales and marketing activities), as well as technology development expenses (which includes expenses related to research and development as well as a portion of personnel salaries allocated to development activities).

Recent Accounting Pronouncements

For a description of recent accounting pronouncements and how we apply such pronouncements to our financial statements, see the accompanying notes to our consolidated financial statements appearing elsewhere in this Quarterly Report on Form 10-Q.

13

Competition

The following competitive factors may affect our future performance.

MyMedicalRecords PHR

Although we believe that no other product in the marketplace compares to what we provide in our comprehensive PHR and other offerings, there are other PHR providers in the consumer health information management marketplace today that compete for our services. These include NoMoreClipboard.com, Dossia, WebMD Health Manager, ZweenaHealth, MiVia, and numerous others including patient-portals offered by EMR Vendors, health exchanges, and insurance companies, hospitals and HMOs for their policyholders and patients. Each of our competitors offers varying PHR products and services for online storage and access to medical records at varying price points (at the basic "free" level, with minimal recordkeeping capability that usually includes advertising).

MyEsafeDepositBox

Our MyEsafeDepositBox product competes with a number of online backup and electronic data storage services. The increasing use of external hard drives and flash drives to backup data also has the potential to compete with online data storage services such as our MyEsafeDepositBox product.

MMRPro

MMRPro competes with scanning services that market their services to doctors seeking to convert their historical paper records into electronic files, as well as EMR systems.

MMRPro also competes with EMR systems that offer doctors the opportunity to make their entire office paperless.

Results of Operations for the three months ended March 31, 2015 as compared to the three months ended March 31, 2014

Revenues

Revenues for the three months ended March 31, 2015 and 2014 were $44,701 and $485,494, respectively, a decrease of $440,793 or 91%. The decrease for the quarter was primarily due to decreased licensing fees.

Cost of revenue

Cost of revenue for the three months ended March 31, 2015 and 2014 was $73,332 and $98,401, respectively, a decrease of $25,069 or 25%. The decrease was mainly due to the renegotiation and reduction of platform costs.

Gross loss for the three months ended March 31, 2015 was $28,631 compared to a Gross profit of $387,092 for the three months ended March 31, 2014, a decrease of $415,721 or 107%. The decrease for the quarter was primarily due to decreased licensing fees which did not occur in the same period in 2015.

Operating expenses

Total operating expenses for the three months ended March 31, 2015 and 2014 were $619,443 and $1,923,493, respectively, a decrease of $1,304,050 or 68%. The decrease for the quarter was primarily due to a reduction in investor relations expenses, salaries, and marketing consulting fees as we work towards streamlining expenses.

General and administrative expenses for the three months ended March 31, 2015 and 2014 were $461,992 and $1,429,980, respectively, a decrease of $967,988 or 68%. The decrease was primarily due to a reduction in investor relations expenses, salaries, non-cash compensation expenses, and consulting fees as we streamline expenses.

Sales and marketing expenses for the three months ended March 31, 2015 and 2014 were $157,451 and $468,730, respectively, a decrease of $311,279 or 66%. The decrease was primarily due to lower business development fees and marketing consulting fees.

Technology development expenses for the three months ended March 31, 2015 and 2014 were $0 and $24,783, respectively, a decrease of $24,783 or 100% as development of our android mobile app was completed in 2014.

Interest and Other Finance Charges, Net

Interest and other finance charges for the three months ended March 31, 2015 and 2014 were $93,269 and $112,953, respectively, a decrease of $19,683 or 17%. The decrease for the quarter was primarily due to decreased interest expense related to convertible notes.

Net loss

As a result of the foregoing, net loss for the three months ended March 31, 2015 and 2014 was $741,343 and $1,649,342, respectively, a decrease of $908,010 or 55%.

Going Concern

As more fully described in Note 1 to the consolidated financial statements appearing above in this Quarterly Report on Form 10- Q, our independent registered public accounting firm included an explanatory paragraph in their report on our 2014 financial statements for the year ended December 31, 2014 related to the uncertainty of our ability to continue as a going concern. As of March 31, 2015, our current liabilities of $9.5 million exceeded our current assets of $0.22 million by $9.3 million.

For a description of our management's plan regarding our ability to continue as a going concern, please see Note 1 to the financial statements included above.

14

Liquidity and Capital Resources

As of March 31, 2015, our current liabilities exceeded our current assets by $9.3 million. Furthermore, during the quarter ended March 31, 2015, we incurred losses of $741,343. At the current level of borrowing, we require cash of $275,000 per year to service our debt and, in order to continue operating its business, we use an average of $278,000 cash per month, or $3.3 million per year.

In addition to the above cash burn from operations, we will be required to obtain additional financing in order to meet the obligations for installment payments of $621,000 under the Creditor Plan and our obligations under the secured indebtedness to The RHL Group under the Ninth Amended Note (which had a balance of $1.31 million at March 31, 2015, amongst other debt obligations. Such obligations are currently due and payable pursuant to the terms of the notes.

To finance our activities, we have relied on the issuance of stock and debt to the RHL Group. At December 31, 2014, we had a line of credit with the RHL Group in the amount of $4.5 million. Availability under this line of credit was $2.94 million as of March 31, 2015.

In addition, we may continue to utilize portions of our standby equity line facility with Granite as needed, offer restricted stock to accredited investors and issue limited amounts of convertible debt. During 2014, we raised $1.07 million in sales of restricted common stock to accredited investors. We expect to continue offering limited amounts of convertible debt in 2015. The Company believes it can continue to generate revenue from its biotech and health information technology assets. We also expect to continue receiving (i) royalties from license fees related to our health information technology patents and other intellectual property; and (ii) revenue from sales of PHRs, MMRPro services, and other products and services including our new mHealth applications that will help reduce annual cash burn from operations. The Company is also planning on selling data and samples from its FavId™ vaccine trials to pharmaceutical manufacturers, universities and others for use in helping to speed the process of clinical trials for new drugs and disease management programs.

Cash Flows for the three months ended March 31, 2015 compared to three months ended March 31, 2014

Net cash used in operating activities for the three months ended March 31, 2015 and 2014 was $242,415 and $452,600, respectively. In 2015, we had a net loss of $741,343, plus non-cash adjustments (depreciation, amortization, common stock and warrants issued for services and interest, amortization of loan discount, and stock compensation expense) of $173,896, plus changes in operating assets and liabilities of $325,032. In 2014, net cash used in operating activities of $452,600 was comprised of a net loss of $1,649,352, plus similar non-cash adjustments of $599,035, plus changes in operating assets and liabilities of $597,717. Compared to 2014, the operating cash flow activities in 2015 were lower primarily due to a reduction in equity transactions and compensation expenses.

Net cash used in investing activities in the three months ended March 31, 2015 and 2014 totaled $98,953 and $108,000, respectively. Compared to 2014, investing activities in 2015 were lower mainly due to a decrease product development costs.

Net cash provided by financing activities in the three months ended March 31, 2015 and 2014 totaled $31,975 and $654,226, respectively. Financing activities primarily included proceeds generated from the issuance of convertible notes and common shares. Compared to 2014, financing activities in 2015 were lower primarily due to a decrease in shares issued for financing activities.

As of March 31, 2015, we had cash and cash equivalents of $0, compared to $103,985 as of March 31, 2014.

Description of Indebtedness

For a description of our indebtedness to The RHL Group, please See Note 3 - Related Party Note Payable, included above in this Quarterly Report on Form 10-Q.

Convertible Notes

For information relating to our Convertible Notes, please see Note 9 to our financial statements appearing elsewhere in this Quarterly Report on Form 10-Q.

Commitments and Contingencies

For information relating to our commitments and contingent liabilities, please see Note 5 to our financial statements appearing elsewhere in this Quarterly Report on Form 10-Q.

Item 4. Controls and Procedures

Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow for timely decisions regarding required disclosure.

In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management is required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures.

As required by Rule 13a-15(b) under the Exchange Act, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures.

Based on the foregoing, our Chief Executive Officer and Chief Financial Officer concluded that, as of the end of the period covered by this report, our disclosure controls and procedures were effective and were operating at a reasonable assurance level.

Internal Control over Financial Reporting

There were no changes in our internal control over financial reporting or in other factors identified in connection with the evaluation required by paragraph (d) of Exchange Act Rules 13a-15 or 15d-15 that occurred during the quarter ended March 31, 2015 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

15

PART II - OTHER INFORMATION

Item 1. Legal Proceedings

The information in response to this item is incorporated herein by reference to Note 5 - Commitments and Contingencies under the "Litigation Matters" section of the Consolidated Condensed Financial Statements of this Quarterly Report.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

There were no transactions to report since our previous disclosure on Form 10-Q, filed with the SEC on March 31, 2015, involving sales of our securities that were not registered under the Securities Act.

Item 6. Exhibits

Exhibit Number	Exhibit Description
31.1	* Certification of Chief Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934.
31.2	* Certification of Chief Financial Officer Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934.
32.1	* Certification of Chief Executive Officer Pursuant to Rule 13a-14(b)/15d-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350.
32.2	* Certification of Chief Financial Officer Pursuant to Rule 13a-14(b)/15d-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350.
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

16

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

Date: May 15, 2015

MMRGlobal, Inc.

By: /s/ Robert H. Lorsch                                  
Robert H. Lorsch
Chairman, Chief Executive Officer and
President

By: /s/ Ingrid G. Safranek                                    
Ingrid G. Safranek
Chief Financial Officer

17

EXHIBIT INDEX

Exhibit Number	Exhibit Description
31.1	* Certification of Chief Executive Officer Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934.
31.2	* Certification of Chief Financial Officer Pursuant to Rule 13a-14(a)/15d-14(a) of the Securities Exchange Act of 1934.
32.1	* Certification of Chief Executive Officer Pursuant to Rule 13a-14(b)/15d-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350.
32.2	* Certification of Chief Financial Officer Pursuant to Rule 13a-14(b)/15d-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350.
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Extension Label Linkbase Document
101.PRE	XBRL Taxonomy Extension Presentation Linkbase Document

18

EX-31.1

Exhibit 31.1

Certification

I, Robert H. Lorsch, certify that:

1. I have reviewed this quarterly report on Form 10-Q of MMRGlobal, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 15, 2015

/s/ Robert H. Lorsch

Name: Robert H. Lorsch
Title: Chief Executive Officer

EX-31.2

Exhibit 31.2

Certification

I, Ingrid G. Safranek, certify that:

1. I have reviewed this quarterly report on Form 10-Q of MMRGlobal, Inc.;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: May 15, 2015

/s/ Ingrid G. Safranek

Name: Ingrid G. Safranek
Title: Chief Financial Officer

EX-32.1

Exhibit 32.1

Certification

I, Robert H. Lorsch, certify, pursuant to Rule 13(a)-14(b) or Rule 15(d)-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350, that (i) the Quarterly Report on Form 10-Q of MMRGlobal, Inc. for the quarterly period ended March 31, 2015 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of1934, and (ii) the information contained in such Quarterly Report on Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of MMRGlobal, Inc.

/s/ Robert H. Lorsch
Name:	Robert H. Lorsch
Title:	Chief Executive Officer
Date:	May 15, 2015

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and is not being "filed" as part of the Form 10-Q or as a separate disclosure document for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to liability under that section. This certification shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act except to the extent that this Exhibit 32.1 is expressly and specifically incorporated by reference in any such filing.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.2

Exhibit 32.2

Certification

I, Ingrid G. Safranek, certify, pursuant to Rule 13(a)-14(b) or Rule 15(d)-14(b) of the Securities Exchange Act of 1934 and 18 U.S.C. Section 1350, that (i) the Quarterly Report on Form 10-Q of MMRGlobal, Inc. for the quarterly period ended March 31, 2015 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and (ii) the information contained in such Quarterly Report on Form 10-Q fairly presents in all material respects the financial condition and results of operations of MMRGlobal, Inc.

/s/ Ingrid G. Safranek
Name:	Ingrid G. Safranek
Title:	Chief Financial Officer
Date:	May 15, 2015

The foregoing certification is being furnished solely pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and is not being "filed" as part of the Form 10-Q or as a separate disclosure document for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to liability under that section. This certification shall not be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act except to the extent that this Exhibit 32.2 is expressly and specifically incorporated by reference in any such filing.

A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Equity Issuances (Stock Bonus Agreements) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Stock Bonus Agreement expense	$ 0	$ 119,375

XML

Equity Issuances (Stock Option Activity Summary Of Stock Options Outstanding and Exercisable) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Options Outstanding, Number of Shares	37,541,722	37,541,722
Options Outstanding, Weighted-Average Exercise Price Per Share	$ 0.10	$ 0.10
Options Exercisable, Number of Shares	36,841,722
$0.05 - $0.08
Range of Exercise Price, Minimum	$ 0.05
Range of Exercise Price, Maximum	$ 0.08
Options Outstanding, Number of Shares	12,900,000
Options Outstanding, Weighted-Average Remaining Life (in years)	6 years 204 days
Options Outstanding, Weighted-Average Exercise Price Per Share	$ 0.07
Options Exercisable, Number of Shares	12,200,000
Options Exercisable, Weighted-Average Remaining Life (in years)	6 years 172 days
Options Exercisable, Weighted-Average Exercise Price Per Share	$ 0.06
$0.08 - $0.15
Range of Exercise Price, Minimum	$ 0.08
Range of Exercise Price, Maximum	$ 0.15
Options Outstanding, Number of Shares	23,011,461
Options Outstanding, Weighted-Average Remaining Life (in years)	3 years 73 days
Options Outstanding, Weighted-Average Exercise Price Per Share	$ 0.11
Options Exercisable, Number of Shares	23,011,461
Options Exercisable, Weighted-Average Remaining Life (in years)	3 years 73 days
Options Exercisable, Weighted-Average Exercise Price Per Share	$ 0.11
> $0.15
Range of Exercise Price, Minimum	$ 0.15
Options Outstanding, Number of Shares	1,630,261
Options Outstanding, Weighted-Average Remaining Life (in years)	3 years 234 days
Options Outstanding, Weighted-Average Exercise Price Per Share	$ 0.18
Options Exercisable, Number of Shares	1,630,261
Options Exercisable, Weighted-Average Remaining Life (in years)	3 years 234 days
Options Exercisable, Weighted-Average Exercise Price Per Share	$ 0.18

XML

Accounting Policies (Share-Based Compensation Schedule Of Assumptions Used In Black-Scholes Model) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies Share-based Compensation Schedule Of Assumptions Used In Black-scholes Model Details
Expected life, in years, maximum	5 years 0 months 0 days	5 years 0 months 0 days
Stock price volatility, minimum	120.51%	120.51%
Stock price volatility, maximum	122.72%	147.09%
Risk-free interest rate, mimimum	0.04%	0.12%
Risk-free interest rate, maximum	1.38%	0.13%
Expected dividends	$ 0	$ 0
Forfeiture rate	0.00%	0.00%

XML

Restructuring Activities (Narrative) (Details) (USD $)

3 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Total remaining severance liability

$ 620,613

$ 620,613

Favrille

Restructuring and Related Activities, Description

From May 29, 2008 to November 7, 2008, Favrille, Inc. had provided notices under the Federal Worker Adjustment and Retraining Notification Act to 142 employees, including six members of senior management, that it planned to conduct a workforce reduction at its facility in San Diego, California and that their employment was expected to end on various dates between June 6, 2008 to November 7, 2008. Immediately prior to the date of the Merger on January 27, 2009, the total severance liability relating to former Favrille employees amounted to $1,682,416. On January 27, 2009, immediately prior to the Merger, as part of the 9,999,992 warrants issued to creditors, we issued warrants as settlement of $985,020 of these amounts. These warrants expired unexercised as of March 31, 2014. In addition, we signed promissory notes with certain former executives totaling $76,783.

As of March 31, 2015, the total remaining severance liabilities amounted to $620,613, which is reflected as severance liability on the accompanying consolidated balance sheets. This consists of $571,362 payable to former non-executive employees in 18 monthly installments starting on July 27, 2009, as well as $49,251 in estimated payroll tax.

Number of employees terminated

142

Severance liability relating to former Favrille employees at merger date

1,682,416

Warrants issued as settlement of severance liability

985,020

Promissory notes with certain former executives

76,783

Severance liabilty payable to former non-executive employees in 18 monthly installments starting on July 27, 2009

571,362

Estimated payroll tax on severance liabilty

49,251

Total remaining severance liability

620,613

Creditor Plan

Restructuring and Related Activities, Description

During the period from January 27, 2009 through June 30, 2009, we entered into a series of settlement agreements with certain vendors of Favrille pursuant to the Creditor Plan, pursuant to which we settled $302,982 of its outstanding accounts payable for an aggregate settlement amount of $214,402, including promissory notes of $139,355.

Amount settled under creditor plan

302,982

Accounts payable settled

214,402

Promissory notes settled

$ 139,355

XML

Equity Issuances (Inputs Used In Black-Scholesl) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Equity Issuances Inputs Used In Black-scholesl Details
Expected life, in years, maximum	5 years 0 months 0 days	5 years 0 months 0 days
Stock price volatility, minimum	120.51%	120.51%
Stock price volatility, maximum	122.72%	147.09%
Risk-free interest rate, minimum	0.04%	0.12%
Risk-free interest rate, maximum	1.38%	0.13%
Expected dividends	$ 0	$ 0
Forfeiture rate	0.00%	0.00%

XML

INCOME TAXES - Note 4

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

INCOME TAXES - Note 4

NOTE 4 - INCOME TAXES

Under ASC 740-270, Income Taxes - Interim Reporting, we are required to adjust our effective tax rate each quarter to be consistent with the estimated annual effective tax rate. We are also required to record the tax impact of certain discrete items, unusual or infrequently occurring, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur. In addition, we exclude jurisdictions with a projected loss for the year or a year-to-date loss where we cannot recognize a tax benefit from our estimated annual effective tax rate. The impact of such an exclusion could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings versus annual projections.

Pursuant to ASC 740, Income Taxes, we performed an analysis of previous tax filings and determined that there were no positions taken that it considered uncertain. Therefore, there were no unrecognized tax benefits As of March 31, 2015.

MMR Inc., in its capacity as the operating company taking over our income tax positions in addition to its own positions after January 27, 2009 (see Note 1), has estimated its annual effective tax rate to be zero. MMRGlobal has based this on an expectation that the combined entity will generate net operating losses in 2015, and it is not likely that those losses will be recovered using future taxable income. Therefore, no provision for income tax has been recorded as of and for the three months ended March 31, 2015.

XML

Related Party Transactions (Narrative) (Details) (USD $)

3 Months Ended

12 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2009

Dec. 31, 2014

Related party payables

$ 1,012,971

$ 952,835

The RHL Group, Inc.

Nature of Common Ownership or Management Control Relationships

Our Chairman and Chief Executive Officer, Robert H. Lorsch, is also the Chief Executive Officer of The RHL Group, Inc. and has full voting power over all of the capital stock of The RHL Group, Inc. Mr. Lorsch directly and indirectly through The RHL Group, Inc., beneficially owns approximately 12.8% our total outstanding voting stock. The RHL Group, Inc. has loaned us money pursuant to the Ninth Amended Note and all predecessor notes. See Note 3 - Related Party Note Payable above.

The RHL Group is an investment holding company which provides consulting, operational and technical services to us, which we refer to as the RHL Services. As part of the RHL Services, The RHL Group provides us with unrestricted access to its internal business and relationship contact database of more than 10,000 persons and entities, which includes clients of The RHL Group and other individuals which may hold value to us. The RHL Group also provides infrastructure support to us, including allowing us unlimited access to its facilities, equipment, and data, information management and server systems. In addition to allowing us the use of its office support personnel, The RHL Group has also consented to allow us to utilize the full-time services of Mr. Lorsch as our President, Chairman and Chief Executive Officer, which requires substantial time and energy away from his required duties as The RHL Group's Chairman and Chief Executive Officer. In addition, The RHL Group has made its President, Kira Reed, available as our spokesperson. Ms. Reed, who is Mr. Lorsch's spouse, also manages our social networking activities.

In consideration for the above, The RHL Group, Inc. has a consulting arrangement with MMR. A copy of the consulting agreement is filed as an exhibit in our Form 8-K, as filed with the SEC on May 4, 2009 and is hereby incorporated by reference.

Bernard Stolar

Nature of Common Ownership or Management Control Relationships

We incurred $12,500 during the three months ended March 31, 2015 and 2014, toward marketing consulting services from Bernard Stolar, a director. We included $192,532 and $174,273 in related party payables as of March 31, 2015 and December 31, 2014, respectively, in connection with these services and board fees.

Related Party Transaction, Expenses from Transactions with Related Party

12,500

12,500

Related party payables

192,532

174,273

Significant Vendor

Nature of Common Ownership or Management Control Relationships

We contract with a significant vendor for the development and maintenance of the software applications necessary to run our MyMedicalRecords PHR, MyEsafeDepositBox and MyMedicalRecords Pro products. Our outside developer supports our software development needs through a team of software engineers, programmers, quality control personnel and testers, who work with our internal product development team on all aspects of application development, design, integration and support of our products. This vendor is also a stockholder. For the three months ended March 31, 2015 and 2014, the total expenses relating to this stockholder amounted to $30,000 and $30,000, respectively. In addition, we capitalized $0 of software development costs for the quarter ended March 31, 2015. As of March 31, 2015 and December 31, 2014, the total amounts due to the stockholder and included in related party payables amounted to $40,000 and $10,000, respectively.

Related Party Transaction, Expenses from Transactions with Related Party

30,000

30,000

Related party payables

40,000

10,000

E-Mail Frequency, LLC

Nature of Common Ownership or Management Control Relationships

On September 15, 2009, we entered into a five year agreement with E-Mail Frequency, LLC and David Loftus, Managing Partner of E-Mail Frequency, LLC, a significant stockholder of the Company. We licensed an existing 80 million person direct marketing database (the "Database") of street addresses, cellular phone numbers, e-mail addresses and other comprehensive data with E-Mail Frequency. The agreement allows us to market, through the use of the Database, our MyMedicalRecords PHR, MyEsafeDepositBox virtual vault, and MMRPro document management system to physicians and their patients. Under the terms of the Agreement, we paid $250,000 to David Loftus as a one-time consulting fee in the form of 2,777,778 shares of our common stock. We recorded the $250,000 one-time licensee fee as a prepaid consulting fee. Amortization expense for each of the quarters ended March 31, 2015 and 2014 was $0 and $12,500. In addition, we incurred a total of $0 during the quarters ended March 31, 2015 and 2014, toward convertible notes interest to Mr. Loftus. We included in related party payables at March 31, 2015 and December 31, 2014 of $64,615 and $64,615, respectively, in respect to these services. Effective September 1, 2011, we signed an Amendment to the Agreement dated September 15, 2009 to provide licensor a non-exclusive right to target, market and exploit the Employee Benefits market.

Related Party Transaction, Expenses from Transactions with Related Party

0

0

Amortization of licensee fee

0

12,500

David Loftus

Related party payables

64,615

64,615

Shares issued for services, related party, shares

2,777,778

Shares issued for services, related party, amount

250,000

Interest expense with related party

$ 0

$ 0

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Commitments and Contingencies (Operating Leases) (Details) (USD $)	Mar. 31, 2015
Year ending December 31:
2015 (Remainder of)	$ 170,500
2016	187,550
2017	206,305
2018	146,410
Total minimum lease payments	$ 710,765

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Income Taxes (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Income Taxes Narrative Details
Unrecognized tax benefits	$ 0
Income tax rate	0.00%

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Subsequent Events (Narrative) (Details)

3 Months Ended

Mar. 31, 2015

Subsequent Events Narrative Details

Subsequent Event, Description

On May 11, 2015, Jack Zwissig resigned from the Board of Directors of the Company, effective immediately. Also on the same date, the Board nominated Titus Day to serve on the Board to fill Mr. Zwissig's vacancy. Mr. Day accepted his appointment, effective immediately.

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Commitments and Contingencies (Capital Leases) (Details) (USD $)	Mar. 31, 2015
Year ending December31:
2015 (Remainder of)	$ 13,221
Total minimum lease payments	$ 13,221

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Commitments and Contingencies (Leases Narrative) (Details) (USD $)

3 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Rent expense

$ 30,670

$ 33,000

September 2013 Lease

Operating lease description

Effective September 1, 2013, we renewed our lease for office space in Los Angeles, California with a term through August 31, 2018. The lease currently requires a monthly payment of $8,250.

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RELATED PARTY PAYABLES, LINE OF CREDIT AND NOTE PAYABLE - Note 3

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

RELATED PARTY PAYABLES, LINE OF CREDIT AND NOTE PAYABLE - Note 3

NOTE 3 - RELATED PARTY PAYABLES, LINE OF CREDIT AND NOTE PAYABLE

On July 10, 2014, we and The RHL Group entered into a Ninth Amended and Restated Promissory Note (the "Amended Note"), effective as of April 29, 2014. The Amended Note amends and restates that certain Eighth Amended Note entered into between the foregoing parties, effective April, 29, 2014 (the " Existing Note " and together with its predecessor notes and the Amended Note, the " Credit Facility "), by: (i) extending the maturity date to April 29, 2015. In connection with the Ninth Amended Note, we issued The RHL Group warrants to purchase 2,781,561 shares of our common stock at $0.035 per share on July 10, 2014. Except as set forth above, the Amended Note does not materially alter the terms of the Existing Note. The Board of Directors has authorized the renewal of the Ninth Amended Note and we are currently in the process of such renewal.

Historically, the predecessor notes have increased over time the maximum amount of credit available under the Credit Facility from $100,000 to $1,000,000 to $3,000,000 to $4,500,000. The maximum amount of the Amended Note is $4,500,000. The Amended Note continues to bear interest at the lesser of 10% or the highest rate then permitted by law, and is secured (similar to the Existing Note) by a Security Agreement, which has been in effect since July 31, 2007, as renewed and amended to date (the "Security Agreement").

The Ninth Amended Note had a balance of $1.31 million at March 31, 2015. The components of the Ninth Amended Note and the related balance sheet presentation as of March 31, 2015 are as follows: $0.8 million, which is included in the line of credit, related party; and $0.51 million for other obligations due to The RHL Group, which is included in related party payables.

Total interest expense on the Line of Credit for the three months ended March 31, 2015 and 2014 amounted to $30,676 and $35,112, respectively. The unpaid interest balances as of March 31, 2015 and December 31, 2014 were $60,257 and $30,160, respectively.

In conjunction with the Ninth Amended Note, we were required to maintain certain financial covenants, including the requirement that we have at least $200,000 of cash in our bank accounts or such other amount as necessary to maintain operations through the subsequent thirty (30) days and timely pay any obligations due respecting payroll and all associated payroll taxes on and after March 31, 2015. Since we did not meet these covenants as of March 31, 2015, we received a waiver from The RHL Group until May 22, 2015.

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Equity Issuances (Stock Option Activity Summary Of Option Activity) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Equity Issuances Stock Option Activity Summary Of Option Activity Details
Outstanding at December 31, 2014	37,541,722
Granted	0
Exercised	0
Cancelled	0
Outstanding at March 31, 2015 (Unaudited)	37,541,722
Vested and expected to vest at March 31, 2015 (Unaudited)	37,541,722
Exercisable at March 31, 2015 (Unaudited)	36,841,722
Weighted-Average Exercise Prices, Outstanding at December 31, 2014	$ 0.10
Weighted-Average Exercise Prices, Granted	$ 0
Weighted-Average Exercise Prices, Exercised	$ 0
Weighted-Average Exercise Prices, Forfeited, cancelled or expired	$ 0
Weighted-Average Exercise Prices, Outstanding at March 31, 2015	$ 0.10
Weighted-Average Exercise Prices, Vested and expected to vest	$ 0.10
Weighted-Average Remaining Contractual Life (in years), Outstanding at December 31, 2014	4 years 106 days
Weighted-Average Remaining Contractual Life (in years), Outstanding at March 31, 2015	4 years 135 days
Weighted-Average Remaining Contractual Life (in years), Vested and expected to vest	4 years 135 days
Weighted-Average Remaining Contractual Life (in years), Exercisable	4 years 135 days
Aggregate Intrinsic Value, Outstanding at December 31, 2014	$ 0
Aggregate Intrinsic Value, Outstanding at March 31, 2015	0
Aggregate Intrinsic Value, Vested and expected to vest	0
Aggregate Intrinsic Value, Exercisable	$ 0

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Notes Payable (Details) (USD $)

3 Months Ended

Mar. 31, 2015

Dec. 31, 2014

Notes payable consisted of the following:

Short-term debt

$ 420,219

$ 375,343

Related party short-term debt

196,921

253,664

Severance Package Notes

Notes payable consisted of the following:

Short-term Debt, Terms

Promissory notes payable due to the former officers of MMRGlobal as part of severance packages, due in full on August 31, 2009 with no stated interest

Short-term debt

76,783

76,783

Resignation and Post-Merger Employment Arrangement Notes

Notes payable consisted of the following:

Short-term Debt, Terms

Promissory notes payable due to the former officers of
MMRGlobal pursuant to the Resignation and Post-Merger Employment
Arrangement, due in full on August 31, 2009 with no stated interest

Short-term debt

25,444

25,444

Notes Payable - Vendors

Notes payable consisted of the following:

Short-term Debt, Terms

Promissory notes payable due to vendors relating to settlement of certain
outstanding accounts payable, payable in 18 equal monthly installments commencing
on July 27, 2009 and ending on January 27, 2011, with no stated interest

Short-term debt

223,116

223,116

Short Term Loan Two

Notes payable consisted of the following:

Short-term Debt, Terms

Short term loan due to a third-party with no stated interest

Short-term debt

94,876

50,000

Related Party One

Notes payable consisted of the following:

Short-term Debt, Terms

Short term loan due to a related-party, payable in full on
January 2, 2014 with 12% interest 

Related party short-term debt

$ 196,921

$ 196,921

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Consolidated Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 0	$ 309,393
Accounts receivable, less allowances of $173,591 in 2015 and 2014	49,014	47,718
Inventory	13,537	13,537
Prepaid expenses and other current assets	160,734	162,184
Total current assets	223,285	532,832
Property and equipment, net	29,795	32,118
Intangible assets, net	1,797,797	1,790,622
Total assets	2,050,877	2,355,572
Current liabilities:
Line of credit, related party	804,820	753,704
Related party payables	1,012,971	952,835
Compensation payable	539,459	491,109
Severance liability	620,613	620,613
Accounts payable and accrued expenses	4,835,139	4,668,960
Deferred revenue	47,120	51,312
Convertible notes payable	987,827	932,047
Notes payable, current portion	423,153	360,343
Notes payable, related party	196,921	253,664
Capital leases payable, current portion	13,222	13,221
Total current liabilities	9,481,245	9,097,808
Commitments and contingencies (See Note 9)
Stockholders' deficit:
Preferred stock - $0.001 per value, 5,000,000 shares authorized, 0 issued and outstanding.
Common stock, $0.001 par value, 1,250,000,000 shares authorized, 778,972,739 and 774,417,739 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	778,766	774,211
Additional paid-in capital	56,486,468	56,437,812
Accumulated deficit	(64,695,602)	(63,954,259)
Total stockholders' deficit	(7,430,368)	(6,742,236)
Total liabilities and stockholders' deficit	$ 2,050,877	$ 2,355,572

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NATURE OF OPERATIONS AND BASIS OF PRESENTATION - Note 1

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

NATURE OF OPERATIONS AND BASIS OF PRESENTATION - Note 1

NOTE 1 - NATURE OF OPERATIONS AND BASIS OF PRESENTATION

MMRGlobal Inc. (referred to herein, unless otherwise indicated, as "MMR," the "Company," the "issuer," "we," "us," and "our") was originally incorporated as Favrille, Inc. ("Favrille") in Delaware in 2000, and since its inception and before the Merger (as defined below), operated as a biopharmaceutical company focused on the development and commercialization of targeted immunotherapies for the treatment of cancer and other diseases of the immune system. In May 2008, Favrille's ongoing Phase 3 registration trial for the FavId vaccine failed to show a statistically significant improvement in the treatment of patients with follicular B-cell Non-Hodgkin's lymphoma. On January 27, 2009, the Company, through MyMedicalRecords, Inc. ("MMR Inc."), what is now our wholly-owned operating subsidiary, conducted a reverse merger with Favrille.

Through our wholly-owned operating subsidiary MMR Inc., the Company's primary business is to license and provide secure and easy-to-use online Personal Health Records ("PHR") and MyEsafeDepositBox storage solutions, including a professional offering to physicians' offices and similar organizations known as MMRPro. In January 2009, as a result of the Merger, we acquired biotech assets and other intellectual property including anti-CD20 antibodies as well as data and samples from the FavId/Specifid vaccine clinical trials for the treatment of B-cell Non-Hodgkin's lymphoma.

On March 8, 2011, we formed a subsidiary, which we named MMR Life Sciences Group, Inc., exclusively to maximize the value of our biotech assets including our patents, anti-CD 20 antibodies, and FavId vaccine technologies acquired by MyMedicalRecords, Inc. through the merger with Favrille. As of this date the assets have not been transferred to the subsidiary.

We (formerly Favrille) were incorporated in Delaware in 2000, MMR Inc. was incorporated in Delaware in 2005, and both are headquartered in Los Angeles, CA.

Principles of Consolidation

The consolidated financial statements include the accounts of MMRGlobal, and its wholly-owned subsidiaries MMR and MMR Life Sciences Group, Inc. All intercompany transactions and balances are eliminated upon consolidation.

Basis of Presentation

We have prepared the accompanying consolidated unaudited financial statements in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial statements and with instructions to Form 10-Q pursuant to the rules and regulations of Securities and Exchange Act of 1934, as amended, or the Exchange Act and Article 8-03 of Regulation S-X promulgated under the Exchange Act. Accordingly, these financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of our management, we have included all adjustments considered necessary (consisting of normal recurring adjustments) for a fair presentation. Operating results for the three months ended March 31, 2015 are not indicative of the results that may be expected for the fiscal year ending December 31, 2015. You should read these unaudited condensed consolidated financial statements in conjunction with the audited financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014.

Going Concern and Management's Plan

As of March 31, 2015, our current liabilities exceeded our current assets by $9.26 million. Furthermore, during the three months ended March 31, 2015, we incurred losses of $741,343, as further explained in Management's Discussion and Analysis of Financial Condition and Results of Operations appearing in Item 2 of Part I of this Quarterly Report on Form 10-Q.

At March 31, 2015 and December 31, 2014, we had $0 and $303,393, respectively, in cash and cash equivalents. Historically, we issued capital stock, sold convertible debt and equity securities and received funds from The RHL Group, Inc. (a significant stockholder that is wholly-owned by our Chairman and Chief Executive Officer, Robert H. Lorsch) to operate our business. Although we received additional funding from The RHL Group pursuant to the Ninth Amended and Restated Note effective April 29, 2014 (the "Line of Credit"), we will still be required to obtain additional financing in order to meet installment payment obligations and the previously existing obligations under the Line of Credit, which had a balance of $1.31 million at March 31, 2015 and a total Unpaid Balance (as defined in the Line of Credit) of $1.56 million, which includes amounts borrowed under the Line of Credit, unpaid interest fees, any amounts guaranteed by The RHL Group, and other obligations due the RHL Group pursuant to the terms of the Ninth Amended and Restated Note and the First Amended Security Agreement dated June 26, 2012 (the "Security Agreement"). As a result of the above, we express uncertainty about our ability to continue as a going concern. The components of the RHL Group Note payable and the related balance sheet presentation as of March 31, 2015 are as follows: $0.8 million, which is included in the line of credit, related party; and $0.51 million related to other obligations due to The RHL Group which are included in related party payables.

Management's plan regarding our going concern is to continue utilizing the Line of Credit. At March 31, 2015, there was approximately $2.92 million available under the Line of Credit. Furthermore, we plan to utilize portions of our standby equity facility with Granite State Capital LLC ("Granite") as needed. As of March 31, 2015, the amount available under the equity line facility was $13.1 million; however, that amount could be reduced based on the market price of our stock at the time any shares are sold. Finally, we plan to sell additional convertible debt and equity securities, settle our existing liabilities through the issuance of equity securities, explore other debt financing arrangements, increase our existing subscriber and affiliate customer base, sell our products and services, and collect licensing fees from parties utilizing our intellectual property to obtain additional cash flow over the next twelve months. There can be no assurance that funds from these sources will be available when needed or, if available, will be on terms favorable to us or to our stockholders. If additional funds are raised by issuing equity securities, the percentage of ownership of our stockholders will be reduced, stockholders will experience additional dilution and/or such equity securities may provide for rights, preferences or privileges senior to those of the holders of our common stock. If we are unable to utilize our Line of Credit, our equity facility with Granite, obtain suitable alternative debt or equity financing, or increase sales of our products of increase licensing fees from the use of our intellectual property, our ability to execute our business plan and continue as a going concern may be adversely affected.

These matters raise substantial doubt about our ability to continue as a going concern. These financial statements were prepared under the assumption that we will continue as a going concern and do not include any adjustments that might result from the outcome of that uncertainty.

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Equity Issuances (Summary Of Warrant Activity) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Equity Issuances Summary Of Warrant Activity Details
Warrants outstanding at December 31, 2014	70,028,410
Granted	0
Exercised	0
Cancelled	(4,750,000)
Warrants outstanding at March 31, 2015	65,278,410
Warrants exercisable at March 31, 2015	67,707,577
Weighted-average exercise price, beginning balance	$ 0.06
Weighted-average exercise price, granted	$ 0
Weighted-average exercise price, exercised during period	$ 0
Weighted-average exercise price, cancelled during period	$ 0.08
Weighted-average exercise price, ending balance	$ 0.06
Warrants exercisable, weighted average exercise price	$ 0.06

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NOTES PAYABLE (Tables)

3 Months Ended

Mar. 31, 2015

Notes Payable Tables

Notes Payable

Notes payable consisted of the following:

		March 31,		December 31,
		2015		2014
Promissory notes payable due to the former officers of MMRGlobal as part of severance packages, due in full on August 31, 2009, with no stated interest	$	76,783	$	76,783
Promissory notes payable due to the former officers of MMRGlobal pursuant to the Resignation and Post-Merger Employment Arrangement, due in full on August 31, 2009, with no stated interest		25,444		25,444
Promissory notes payable due to vendors relating to settlement of certain outstanding accounts payable, payable in 18 equal monthly installments commencing on July 27, 2009 and ending on January 27, 2011, with no stated interest		223,116		223,116
Short term loan due to a third-party with 6% interest		35,000		35,000
		360,343		360,343
Less: current portion		(360,343)		(360,343)
Notes payable, less current portion	$	-	$	-
Short term loan due to a related-party, payable in full on January 2, 2014 with 12% interest	$	203,664	$	203,664
Short term loan due to a related-party, payable in full on May 31, 2014 with 12% interest		50,000		50,000
Notes payable related party, current portion		253,664		253,664
Less: current portion		(253,664)		(253,664)
Notes payable related party, less current portion	$	-	$	-

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Equity Issuances (Summary Of Warrants Outstanding and Exercisable) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Warrants outstanding at March 31, 2015	65,278,410	70,028,410
Warrants exercisable	61,754,799
$0.02 - $0.06
Range of Exercise Price, Minimum	$ 0.02
Range of Exercise Price, Maximum	$ 0.06
Warrants outstanding at March 31, 2015	47,299,348
Warrants outstanding, Weighted-average remaining life, in years	2 years 26 days
Warrants outstanding, Weighted-average exercise price	$ 0.04
Warrants exercisable	45,775,737
Warrants exercisable, Weighted-average remaining life, in years	2.07
Warrants exercisable, Weighted-average exercise price	$ 0.04
$0.06 - $0.10
Range of Exercise Price, Minimum	$ 0.06
Range of Exercise Price, Maximum	$ 0.10
Warrants outstanding at March 31, 2015	5,025,000
Warrants outstanding, Weighted-average remaining life, in years	310 days
Warrants outstanding, Weighted-average exercise price	$ 0.10
Warrants exercisable	4,025,000
Warrants exercisable, Weighted-average remaining life, in years	0.55
Warrants exercisable, Weighted-average exercise price	$ 0.10
> $0.10
Range of Exercise Price, Minimum	$ 0.10
Warrants outstanding at March 31, 2015	12,954,062
Warrants outstanding, Weighted-average remaining life, in years	1 year 139 days
Warrants outstanding, Weighted-average exercise price	$ 0.15
Warrants exercisable	11,954,062
Warrants exercisable, Weighted-average remaining life, in years	1.43
Warrants exercisable, Weighted-average exercise price	$ 0.15

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Accounting Policies (Intangible Assets and Impairments) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies Intangible Assets And Impairments Narrative Details
Impairment charges	$ 0	$ 0

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Note 2

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Note 2

NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

(a) MANAGEMENT'S USE OF ESTIMATES

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net revenue and expenses during each reporting period. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, allowances for doubtful accounts, the valuation of deferred income taxes, tax contingencies, long-lived and intangible assets, valuation of derivative liabilities and stock-based compensation. These estimates are based on historical experience and on various other factors that management believes to be reasonable under the circumstances, although actual results could differ from those estimates.

(b) CASH AND CASH EQUIVALENTS

We consider cash equivalents to be only those investments that are highly liquid, readily convertible to cash and with maturities of 90 days or less at the purchase date. We maintain our cash in bank deposit accounts that, at times, may exceed federally insured limits. We have not experienced any losses in such accounts and believe that we are not exposed to any significant credit or deposit risk on our cash. We had cash and cash equivalents of $0 and $303,393 as of March 31, 2015 and December 31, 2014, respectively.

(c) TRADE AND OTHER RECEIVABLES

Receivables represent claims against third parties that will be settled in cash. The carrying value of receivables, net of an allowance for doubtful accounts, if any, represents their estimated net realizable value. We estimate the allowance for doubtful accounts, if any, based on historical collection trends, type of customer, the age of outstanding receivables and existing economic conditions. If events or changes in circumstances indicate that specific receivable balances may be impaired, we give further consideration to the collectability of those balances and the allowance is adjusted accordingly. We write off past due receivable balances when collection efforts have been unsuccessful in collecting the amount due.

(d) INVENTORY

Inventory is stated at the actual cost, using the first-in-first-out method. On an on-going basis, we evaluate our inventory for obsolescence. This evaluation includes analysis of sales levels, sales projections, and purchases by item. If future demand or market conditions are different than our current estimates, an inventory adjustment may be required, and would be reflected in cost of goods sold in the period the revision is made.

(e) FAIR VALUE OF FINANCIAL INSTRUMENTS

ASC 820-10, Fair Value Measurements and Disclosures, requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of March 31, 2015 and December 31, 2014, the carrying value of accounts receivable, deposits, related party payables, compensation payable, severance liabilities, and accounts payable and accrued expenses approximates fair value due to the short-term nature of such instruments. The carrying value of short-term debt approximates fair value as the related interest rates approximate rates currently available to us.

We utilize ASC 820-10 for valuing financial assets and liabilities measured on a recurring basis. ASC 820-10 defines fair value, establishes a framework for measuring fair value and generally accepted accounting principles, and expands disclosures about fair value measurements. This standard applies in situations where other accounting pronouncements either permit or require fair value measurements. ASC 820-10 does not require any new fair value measurements.

Accounting guidance also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The standard describes three levels of inputs that may be used to measure fair value:

Level 1:	Quoted prices in active markets for identical or similar assets and liabilities.
Level 2:	Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets and liabilities.
Level 3:	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

(f) IMPAIRMENT OF LONG-LIVED ASSETS AND INTANGIBLES

We account for long-lived assets, which include property and equipment and identifiable intangible assets with finite useful lives (subject to amortization), in accordance with ASC 350-30. ASC 350-30 requires that we review long-lived assets for impairment whenever events or changes in circumstances indicate that we may not recover the carrying amount of an asset. We measure recoverability by comparing the carrying amount of an asset to the expected future undiscounted net cash flows generated by the asset. If we determine that the asset may not be recoverable, or if the carrying amount of an asset exceeds its estimated future undiscounted cash flows, we recognize an impairment charge to the extent of the difference between the fair value and the asset's carrying amount. Our assessment of the undiscounted future cash flows indicated that the carrying amount of the long-lived and intangible assets are recoverable, therefore, we had no impairment charges during the three months ended March 31, 2015 and 2014.

(g) REVENUE RECOGNITION

We generate our revenues from services, which are comprised of providing electronic access to consumer medical records and other vital documents, and from the licensing of our intellectual property and services. We recognize revenue only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed, and we are reasonably assured of collectability of the resulting receivable.

Our subscriber revenues consist of annual and monthly recurring retail subscriptions and usage-based fees, which are primarily paid in advance by credit card, and corporate accounts that are based on either an access-fee or actual number of users, and in each case billed in advance at the beginning of each month of service. We defer the portions of annual recurring subscription fees collected in advance and recognize them on a straight line basis over the subscription period.

We license the rights to use portions of our intellectual property portfolio, which includes certain patent rights essential to the sale of certain PHR products. Licensees typically pay a license fee in one or more installments and ongoing royalties based on their sales of products incorporating or using the Company's licensed intellectual property. License fees are recognized over the estimated period of benefit to the licensee, typically five to fifteen years. The Company earns royalties on such licensed products sold by its licensees at the time that the licensees' sales occur. The Company recognizes royalty revenues based on royalties reported by licensees during the quarter and when other revenue recognition criteria are met.

We grant exclusive and non-exclusive licenses for the sale and marketing of our services in international territories in consideration of license fees and ongoing royalties. The royalty fee is usually a percentage of revenue earned by the licensee and there are usually certain minimum guarantees. We defer the recognition of license fee revenues received in advance from international licensees for the grant of the license and recognize them over the period covered by the agreement. We defer the recognition of minimum guaranteed royalty payments received in advance and recognize them over the period to which the royalty relates. We include all such revenues under "License Fees." In those cases where a license agreement contains multiple deliverables, we account for the agreement in accordance with ASC 605-25 Revenue Recognition - Multiple-Element Arrangements.

We recognize revenue on sales of our MMRPro system in accordance with ASC 605-25, Revenue Recognition, Multiple-Element Arrangements.

Our multiple-deliverable arrangements consist solely of our MMRPro product. Significant deliverables within these arrangements include sophisticated scanning equipment, various licenses to use third party software, a license to use our proprietary MMRPro application software, installation and training, dedicated telephone lines, secure online storage and warranties.

We determined all elements to be separate units of accounting as they have standalone value to the customers and/or they are sold by other vendors on a standalone basis. Delivery of the hardware and certain software elements of these arrangements occur at the inception of the agreement. We deliver installation and training at the inception of the agreement. We provide other software licenses, telephone lines and online secure storage over the three year term of the agreement. We include warranties in the arrangements, however the third party product manufacturer, and not us, is obligated to fulfill such warranties. The third-party warranty contracts are paid in advance and are not refundable.

We allocate the revenue derived from these arrangements among all the deliverables. We base such allocation on the relative selling price of each deliverable. With the exception of our proprietary MMRPro application software, we use third party evidence to set the selling prices used for this allocation. In all such cases, third parties sell the same or very similar products. For the MMRPro application software, we estimate the selling price based on recent discussions regarding licensure of that particular application on a standalone basis. To date, we have not licensed this software on a standalone basis.

We recognize the allocated revenue for each deliverable in accordance with SEC Staff Accounting Bulletin ("SAB") No. 104, Topic 13: Revenue Recognition. Under this guidance, we recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed and determinable and collectability is reasonably assured. This results in us recognizing revenue for the hardware, certain software and the warranties upon delivery to the customer, for the installation and training upon completion of these services, and ratably over the contract period for the software licenses, telephone lines and online secure storage.

Revenue from the licensing of our biotech assets may include non-refundable license and up-front fees, non- refundable milestone payments that are triggered upon achievement of a specific event, and future royalties or lump-sum payments on sales of related products. For agreements that provide for milestone payments, such as our agreement with Celgene, we adopted ASC 605-28-25, Revenue Recognition Milestone Method.

(h) SHARE-BASED COMPENSATION

We account for share-based compensation in accordance with ASC 718-20, Awards Classified as Equity. We apply ASC 718- 20 in accounting for stock-based awards issued to employees under the recognition of compensation expense related to the fair value of employee share-based awards, including stock options and restricted stock. Determining the fair value of options at the grant date requires judgment, including estimating the expected term that stock options will be outstanding prior to exercise, the associated volatility and the expected dividends. Judgment is required in estimating the amount of share-based awards expected to be forfeited prior to vesting. If actual forfeitures differ significantly from these estimates, share-based compensation expense could be materially impacted.

We account for options and warrants issued to non-employees in accordance with ASC 505-50, Equity-Based Payments to Non-Employees. We treat options and warrants issued to non-employees the same as those issued to employees with the exception of determination of the measurement date. The measurement date is the earlier of (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty's performance is complete. Options and warrants granted to consultants are valued at their respective measurement dates, and recognized as an expense based on the portion of the total consulting services provided during the applicable period. As further consulting services are provided in future periods, we will revalue the associated options and warrants and recognize additional expense based on their then current values.

We estimate the fair value of each stock option on the date of grant using the Black-Scholes option pricing model. We determine assumptions relative to volatility and anticipated forfeitures at the time of grant. We valued grants of stock options and warrants during the three months ended March 31, 2015 and 2014 using the following assumptions.

	March 31, 2015	March 31, 2014
Expected life in years	2 - 5 Years	0 - 5 Years
Stock price volatility	120.51% - 122.72%	120.51% - 147.09%
Risk free interest rate	0.04% - 1.38%	0.12% - 0.13%
Expected dividends	None	None
Forfeiture rate	0%	0%

We base the assumptions used in the Black-Scholes models upon the following data: (1) our use of the contractual life of the underlying non-employee warrants as the expected life; the expected life of the employee options used in this calculation is the period of time the options are expected to be outstanding and has been determined based on historical exercise experience; (2) in the absence of an extensive public market for our shares, the expected stock price volatility of the underlying shares over the expected term of the option or warrant was taken at approximately the mid-point of the range for similar companies at the various grant dates; (3) we base the risk free interest rate on published U.S. Treasury Department interest rates for the expected terms of the underlying options or warrants; (4) we base expected dividends on historical dividend data and expected future dividend activity; and (5) we base the expected forfeiture rate on historical forfeiture activity and assumptions regarding future forfeitures based on the composition of current grantees.

(i) NET INCOME/LOSS PER SHARE

We apply the guidance of ASC 260-10, Earnings Per Share for calculating the basic and diluted loss per share. We calculate basic loss per share by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding. We compute diluted loss per share similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. We exclude common equivalent shares from the computation of net loss per share if their effect is anti-dilutive.

We excluded all potential anti-dilutive common shares from the computation of diluted net loss per common share for the three months ended March 31, 2015 and 2014 because they were anti-dilutive due to our net loss position. Stock options, warrants and convertible notes excluded from the computation totaled 148,955,582 shares for the three months ended March 31, 2015 and 85,972,884 shares for the three months ended March 31, 2014, respectively.

(j) RECENT ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. This new guidance is effective for the Company in the first quarter of 2017, with no early adoption permitted. The standard permits the use of either the retrospective or cumulative effect transition method. At this time we have not selected a transition method. We are currently evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures.

In August 2014, the FABS issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). ASU 2014-15 will explicitly require management to assess an entity's ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. The new standard will be effective for all entities in the first annual period ending after December 15, 2016. Earlier adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2014-15. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

XML

Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Allowances	$ 173,591	$ 173,591
Stockholders' deficit:
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	1,250,000,000	1,250,000,000
Common stock, shares issued	778,972,739	774,417,739
Common stock, shares outstanding	778,972,739	774,417,739

XML

SUBSEQUENT EVENTS - Note 12

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

SUBSEQUENT EVENTS - Note 12

NOTE 12 - SUBSEQUENT EVENTS

On May 11, 2015, Jack Zwissig resigned from the Board of Directors of the Company, effective immediately. Also on the same date, the Board nominated Titus Day to serve on the Board to fill Mr. Zwissig's vacancy. Mr. Day accepted his appointment, effective immediately.

XML

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	May 11, 2015
Document And Entity Information
Entity Registrant Name	MMRGlobal, Inc.
Entity Central Index Key	0001285701
Document Type	10-Q
Document Period End Date	Mar. 31, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		781,007,739
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

XML

Summary of Significant Accounting Policies (Policies)

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Principles of Consolidation

Principles of Consolidation

The consolidated financial statements include the accounts of MMRGlobal, and its wholly-owned subsidiaries MMR and MMR Life Sciences Group, Inc. All intercompany transactions and balances are eliminated upon consolidation.

Basis of Presentation

Basis of Presentation

We have prepared the accompanying consolidated unaudited financial statements in accordance with accounting principles generally accepted in the United States of America, or GAAP, for interim financial statements and with instructions to Form 10-Q pursuant to the rules and regulations of Securities and Exchange Act of 1934, as amended, or the Exchange Act and Article 8-03 of Regulation S-X promulgated under the Exchange Act. Accordingly, these financial statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of our management, we have included all adjustments considered necessary (consisting of normal recurring adjustments) for a fair presentation. Operating results for the three months ended March 31, 2015 are not indicative of the results that may be expected for the fiscal year ending December 31, 2015. You should read these unaudited condensed consolidated financial statements in conjunction with the audited financial statements and the notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2014.

Going Concern and Management's Plan

Going Concern and Management's Plan

As of March 31, 2015, our current liabilities exceeded our current assets by $9.26 million. Furthermore, during the three months ended March 31, 2015, we incurred losses of $741,343, as further explained in Management's Discussion and Analysis of Financial Condition and Results of Operations appearing in Item 2 of Part I of this Quarterly Report on Form 10-Q.

At March 31, 2015 and December 31, 2014, we had $0 and $303,393, respectively, in cash and cash equivalents. Historically, we issued capital stock, sold convertible debt and equity securities and received funds from The RHL Group, Inc. (a significant stockholder that is wholly-owned by our Chairman and Chief Executive Officer, Robert H. Lorsch) to operate our business. Although we received additional funding from The RHL Group pursuant to the Ninth Amended and Restated Note effective April 29, 2014 (the "Line of Credit"), we will still be required to obtain additional financing in order to meet installment payment obligations and the previously existing obligations under the Line of Credit, which had a balance of $1.31 million at March 31, 2015 and a total Unpaid Balance (as defined in the Line of Credit) of $1.56 million, which includes amounts borrowed under the Line of Credit, unpaid interest fees, any amounts guaranteed by The RHL Group, and other obligations due the RHL Group pursuant to the terms of the Ninth Amended and Restated Note and the First Amended Security Agreement dated June 26, 2012 (the "Security Agreement"). As a result of the above, we express uncertainty about our ability to continue as a going concern. The components of the RHL Group Note payable and the related balance sheet presentation as of March 31, 2015 are as follows: $0.8 million, which is included in the line of credit, related party; and $0.51 million related to other obligations due to The RHL Group which are included in related party payables.

Management's plan regarding our going concern is to continue utilizing the Line of Credit. At March 31, 2015, there was approximately $2.92 million available under the Line of Credit. Furthermore, we plan to utilize portions of our standby equity facility with Granite State Capital LLC ("Granite") as needed. As of March 31, 2015, the amount available under the equity line facility was $13.1 million; however, that amount could be reduced based on the market price of our stock at the time any shares are sold. Finally, we plan to sell additional convertible debt and equity securities, settle our existing liabilities through the issuance of equity securities, explore other debt financing arrangements, increase our existing subscriber and affiliate customer base, sell our products and services, and collect licensing fees from parties utilizing our intellectual property to obtain additional cash flow over the next twelve months. There can be no assurance that funds from these sources will be available when needed or, if available, will be on terms favorable to us or to our stockholders. If additional funds are raised by issuing equity securities, the percentage of ownership of our stockholders will be reduced, stockholders will experience additional dilution and/or such equity securities may provide for rights, preferences or privileges senior to those of the holders of our common stock. If we are unable to utilize our Line of Credit, our equity facility with Granite, obtain suitable alternative debt or equity financing, or increase sales of our products of increase licensing fees from the use of our intellectual property, our ability to execute our business plan and continue as a going concern may be adversely affected.

These matters raise substantial doubt about our ability to continue as a going concern. These financial statements were prepared under the assumption that we will continue as a going concern and do not include any adjustments that might result from the outcome of that uncertainty.

Management's Use of Estimates

(a) MANAGEMENT'S USE OF ESTIMATES

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of net revenue and expenses during each reporting period. On an ongoing basis, management evaluates its estimates, including those related to revenue recognition, allowances for doubtful accounts, the valuation of deferred income taxes, tax contingencies, long-lived and intangible assets, valuation of derivative liabilities and stock-based compensation. These estimates are based on historical experience and on various other factors that management believes to be reasonable under the circumstances, although actual results could differ from those estimates.

Cash and Cash Equivalents

(b) CASH AND CASH EQUIVALENTS

We consider cash equivalents to be only those investments that are highly liquid, readily convertible to cash and with maturities of 90 days or less at the purchase date. We maintain our cash in bank deposit accounts that, at times, may exceed federally insured limits. We have not experienced any losses in such accounts and believe that we are not exposed to any significant credit or deposit risk on our cash. We had cash and cash equivalents of $0 and $303,393 as of March 31, 2015 and December 31, 2014, respectively.

Trade and Other Receivables

(c) TRADE AND OTHER RECEIVABLES

Receivables represent claims against third parties that will be settled in cash. The carrying value of receivables, net of an allowance for doubtful accounts, if any, represents their estimated net realizable value. We estimate the allowance for doubtful accounts, if any, based on historical collection trends, type of customer, the age of outstanding receivables and existing economic conditions. If events or changes in circumstances indicate that specific receivable balances may be impaired, we give further consideration to the collectability of those balances and the allowance is adjusted accordingly. We write off past due receivable balances when collection efforts have been unsuccessful in collecting the amount due.

Inventory

(d) INVENTORY

Inventory is stated at the actual cost, using the first-in-first-out method. On an on-going basis, we evaluate our inventory for obsolescence. This evaluation includes analysis of sales levels, sales projections, and purchases by item. If future demand or market conditions are different than our current estimates, an inventory adjustment may be required, and would be reflected in cost of goods sold in the period the revision is made.

Fair Value of Financial Instruments

(e) FAIR VALUE OF FINANCIAL INSTRUMENTS

ASC 820-10, Fair Value Measurements and Disclosures, requires entities to disclose the fair value of financial instruments, both assets and liabilities recognized and not recognized on the balance sheet, for which it is practicable to estimate fair value. ASC 820-10 defines the fair value of a financial instrument as the amount at which the instrument could be exchanged in a current transaction between willing parties. As of March 31, 2015 and December 31, 2014, the carrying value of accounts receivable, deposits, related party payables, compensation payable, severance liabilities, and accounts payable and accrued expenses approximates fair value due to the short-term nature of such instruments. The carrying value of short-term debt approximates fair value as the related interest rates approximate rates currently available to us.

We utilize ASC 820-10 for valuing financial assets and liabilities measured on a recurring basis. ASC 820-10 defines fair value, establishes a framework for measuring fair value and generally accepted accounting principles, and expands disclosures about fair value measurements. This standard applies in situations where other accounting pronouncements either permit or require fair value measurements. ASC 820-10 does not require any new fair value measurements.

Accounting guidance also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.

The standard describes three levels of inputs that may be used to measure fair value:

Level 1:	Quoted prices in active markets for identical or similar assets and liabilities.
Level 2:	Quoted prices for identical or similar assets and liabilities in markets that are not active or observable inputs other than quoted prices in active markets for identical or similar assets and liabilities.
Level 3:	Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Impairment of Long-Lived Assets and Intangibles

(f) IMPAIRMENT OF LONG-LIVED ASSETS AND INTANGIBLES

We account for long-lived assets, which include property and equipment and identifiable intangible assets with finite useful lives (subject to amortization), in accordance with ASC 350-30. ASC 350-30 requires that we review long-lived assets for impairment whenever events or changes in circumstances indicate that we may not recover the carrying amount of an asset. We measure recoverability by comparing the carrying amount of an asset to the expected future undiscounted net cash flows generated by the asset. If we determine that the asset may not be recoverable, or if the carrying amount of an asset exceeds its estimated future undiscounted cash flows, we recognize an impairment charge to the extent of the difference between the fair value and the asset's carrying amount. Our assessment of the undiscounted future cash flows indicated that the carrying amount of the long-lived and intangible assets are recoverable, therefore, we had no impairment charges during the three months ended March 31, 2015 and 2014.

Revenue Recognition

(g) REVENUE RECOGNITION

We generate our revenues from services, which are comprised of providing electronic access to consumer medical records and other vital documents, and from the licensing of our intellectual property and services. We recognize revenue only when the price is fixed or determinable, persuasive evidence of an arrangement exists, the service is performed, and we are reasonably assured of collectability of the resulting receivable.

Our subscriber revenues consist of annual and monthly recurring retail subscriptions and usage-based fees, which are primarily paid in advance by credit card, and corporate accounts that are based on either an access-fee or actual number of users, and in each case billed in advance at the beginning of each month of service. We defer the portions of annual recurring subscription fees collected in advance and recognize them on a straight line basis over the subscription period.

We license the rights to use portions of our intellectual property portfolio, which includes certain patent rights essential to the sale of certain PHR products. Licensees typically pay a license fee in one or more installments and ongoing royalties based on their sales of products incorporating or using the Company's licensed intellectual property. License fees are recognized over the estimated period of benefit to the licensee, typically five to fifteen years. The Company earns royalties on such licensed products sold by its licensees at the time that the licensees' sales occur. The Company recognizes royalty revenues based on royalties reported by licensees during the quarter and when other revenue recognition criteria are met.

We grant exclusive and non-exclusive licenses for the sale and marketing of our services in international territories in consideration of license fees and ongoing royalties. The royalty fee is usually a percentage of revenue earned by the licensee and there are usually certain minimum guarantees. We defer the recognition of license fee revenues received in advance from international licensees for the grant of the license and recognize them over the period covered by the agreement. We defer the recognition of minimum guaranteed royalty payments received in advance and recognize them over the period to which the royalty relates. We include all such revenues under "License Fees." In those cases where a license agreement contains multiple deliverables, we account for the agreement in accordance with ASC 605-25 Revenue Recognition - Multiple-Element Arrangements.

We recognize revenue on sales of our MMRPro system in accordance with ASC 605-25, Revenue Recognition, Multiple-Element Arrangements.

Our multiple-deliverable arrangements consist solely of our MMRPro product. Significant deliverables within these arrangements include sophisticated scanning equipment, various licenses to use third party software, a license to use our proprietary MMRPro application software, installation and training, dedicated telephone lines, secure online storage and warranties.

We determined all elements to be separate units of accounting as they have standalone value to the customers and/or they are sold by other vendors on a standalone basis. Delivery of the hardware and certain software elements of these arrangements occur at the inception of the agreement. We deliver installation and training at the inception of the agreement. We provide other software licenses, telephone lines and online secure storage over the three year term of the agreement. We include warranties in the arrangements, however the third party product manufacturer, and not us, is obligated to fulfill such warranties. The third-party warranty contracts are paid in advance and are not refundable.

We allocate the revenue derived from these arrangements among all the deliverables. We base such allocation on the relative selling price of each deliverable. With the exception of our proprietary MMRPro application software, we use third party evidence to set the selling prices used for this allocation. In all such cases, third parties sell the same or very similar products. For the MMRPro application software, we estimate the selling price based on recent discussions regarding licensure of that particular application on a standalone basis. To date, we have not licensed this software on a standalone basis.

We recognize the allocated revenue for each deliverable in accordance with SEC Staff Accounting Bulletin ("SAB") No. 104, Topic 13: Revenue Recognition. Under this guidance, we recognize revenue when persuasive evidence of an arrangement exists, delivery has occurred or services have been rendered, the price is fixed and determinable and collectability is reasonably assured. This results in us recognizing revenue for the hardware, certain software and the warranties upon delivery to the customer, for the installation and training upon completion of these services, and ratably over the contract period for the software licenses, telephone lines and online secure storage.

Revenue from the licensing of our biotech assets may include non-refundable license and up-front fees, non- refundable milestone payments that are triggered upon achievement of a specific event, and future royalties or lump-sum payments on sales of related products. For agreements that provide for milestone payments, such as our agreement with Celgene, we adopted ASC 605-28-25, Revenue Recognition Milestone Method.

Shared-Based Compensation

(h) SHARE-BASED COMPENSATION

We account for share-based compensation in accordance with ASC 718-20, Awards Classified as Equity. We apply ASC 718- 20 in accounting for stock-based awards issued to employees under the recognition of compensation expense related to the fair value of employee share-based awards, including stock options and restricted stock. Determining the fair value of options at the grant date requires judgment, including estimating the expected term that stock options will be outstanding prior to exercise, the associated volatility and the expected dividends. Judgment is required in estimating the amount of share-based awards expected to be forfeited prior to vesting. If actual forfeitures differ significantly from these estimates, share-based compensation expense could be materially impacted.

We account for options and warrants issued to non-employees in accordance with ASC 505-50, Equity-Based Payments to Non-Employees. We treat options and warrants issued to non-employees the same as those issued to employees with the exception of determination of the measurement date. The measurement date is the earlier of (1) the date at which a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty's performance is complete. Options and warrants granted to consultants are valued at their respective measurement dates, and recognized as an expense based on the portion of the total consulting services provided during the applicable period. As further consulting services are provided in future periods, we will revalue the associated options and warrants and recognize additional expense based on their then current values.

We estimate the fair value of each stock option on the date of grant using the Black-Scholes option pricing model. We determine assumptions relative to volatility and anticipated forfeitures at the time of grant. We valued grants of stock options and warrants during the three months ended March 31, 2015 and 2014 using the following assumptions.

	March 31, 2015	March 31, 2014
Expected life in years	2 - 5 Years	0 - 5 Years
Stock price volatility	120.51% - 122.72%	120.51% - 147.09%
Risk free interest rate	0.04% - 1.38%	0.12% - 0.13%
Expected dividends	None	None
Forfeiture rate	0%	0%

We base the assumptions used in the Black-Scholes models upon the following data: (1) our use of the contractual life of the underlying non-employee warrants as the expected life; the expected life of the employee options used in this calculation is the period of time the options are expected to be outstanding and has been determined based on historical exercise experience; (2) in the absence of an extensive public market for our shares, the expected stock price volatility of the underlying shares over the expected term of the option or warrant was taken at approximately the mid-point of the range for similar companies at the various grant dates; (3) we base the risk free interest rate on published U.S. Treasury Department interest rates for the expected terms of the underlying options or warrants; (4) we base expected dividends on historical dividend data and expected future dividend activity; and (5) we base the expected forfeiture rate on historical forfeiture activity and assumptions regarding future forfeitures based on the composition of current grantees.

Net Income/Loss Per Share

(i) NET INCOME/LOSS PER SHARE

We apply the guidance of ASC 260-10, Earnings Per Share for calculating the basic and diluted loss per share. We calculate basic loss per share by dividing the net loss attributable to common stockholders by the weighted average number of common shares outstanding. We compute diluted loss per share similar to basic loss per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential shares had been issued and if the additional shares were dilutive. We exclude common equivalent shares from the computation of net loss per share if their effect is anti-dilutive.

We excluded all potential anti-dilutive common shares from the computation of diluted net loss per common share for the three months ended March 31, 2015 and 2014 because they were anti-dilutive due to our net loss position. Stock options, warrants and convertible notes excluded from the computation totaled 148,955,582 shares for the three months ended March 31, 2015 and 85,972,884 shares for the three months ended March 31, 2014, respectively.

Recent Accounting Pronouncements

(j) RECENT ACCOUNTING PRONOUNCEMENTS

In May 2014, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers, which requires an entity to recognize the amount of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. ASU 2014-09 will replace most existing revenue recognition guidance in U.S. GAAP when it becomes effective. This new guidance is effective for the Company in the first quarter of 2017, with no early adoption permitted. The standard permits the use of either the retrospective or cumulative effect transition method. At this time we have not selected a transition method. We are currently evaluating the effect that ASU 2014-09 will have on our consolidated financial statements and related disclosures.

In August 2014, the FABS issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern ("ASU 2014-15"). ASU 2014-15 will explicitly require management to assess an entity's ability to continue as a going concern, and to provide related footnote disclosure in certain circumstances. The new standard will be effective for all entities in the first annual period ending after December 15, 2016. Earlier adoption is permitted. We are currently evaluating the impact of the adoption of ASU 2014-15. The adoption of this standard is not expected to have a material impact on the Company's consolidated financial statements.

Income Taxes

Under ASC 740-270, Income Taxes - Interim Reporting, we are required to adjust our effective tax rate each quarter to be consistent with the estimated annual effective tax rate. We are also required to record the tax impact of certain discrete items, unusual or infrequently occurring, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, in the interim period in which they occur. In addition, we exclude jurisdictions with a projected loss for the year or a year-to-date loss where we cannot recognize a tax benefit from our estimated annual effective tax rate. The impact of such an exclusion could result in a higher or lower effective tax rate during a particular quarter, based upon the mix and timing of actual earnings versus annual projections.

Pursuant to ASC 740, Income Taxes, we performed an analysis of previous tax filings and determined that there were no positions taken that it considered uncertain. Therefore, there were no unrecognized tax benefits As of March 31, 2015.

MMR Inc., in its capacity as the operating company taking over our income tax positions in addition to its own positions after January 27, 2009 (see Note 1), has estimated its annual effective tax rate to be zero. MMRGlobal has based this on an expectation that the combined entity will generate net operating losses in 2015, and it is not likely that those losses will be recovered using future taxable income. Therefore, no provision for income tax has been recorded as of and for the three months ended March 31, 2015.

XML

Consolidated Statements of Operations (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Revenues
Subscriber	$ 34,029	$ 29,763
MMR Pro	4,191	7,569
License fees	6,481	448,162
Total revenues	44,701	485,494
Cost of revenues	73,332	98,401
Gross profit	(28,631)	387,093
General and administrative expenses	461,992	1,429,980
Sales and marketing expenses	157,451	468,730
Technology development	0	24,783
Loss from operations	(648,074)	(1,536,400)
Interest and other finance charges, net	(93,269)	(112,952)
Net loss	$ (741,343)	$ (1,649,352)
Net loss per share:
Basic and diluted	$ 0.00	$ 0.00
Weighted average common shares outstanding:
Basic	776,369,461	706,347,012
Diluted	776,369,461	706,347,012

XML

EQUITY ISSUANCES - Note 7

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

EQUITY ISSUANCES - Note 7

NOTE 7 - EQUITY ISSUANCES

Stock Option Activity

Our 2001 Equity Incentive Plan (the "2001 Plan") expired on June 5, 2011 and no options were issued under the 2001 Plan since that date. As of March 31, 2015, 14,184,557 shares remain issued under the 2001 Plan.

On September 1, 2011, our Board of Directors approved the adoption of a new plan to replace the 2001 Plan under the same general terms as the 2001 Plan. On June 20, 2012, our stockholders voted and approved the 2011 Equity Incentive Plan (the " 2011 Plan") at our 2012 Annual Stockholder Meeting. As of March 31, 2015, 23.36 million shares remain issued under the 2011 Plan, and 36.45 million shares of our common stock are reserved for future issuance under our 2011 Plan, which includes an automatic 5 million share annual increase pursuant to the terms of the 2011 Plan and a 20 million share increase authorized during our 2013 Annual Stockholder's Meeting.

A summary of option activity for the three months ended March 31, 2015 is presented below. Options granted by MMR Inc. prior to the date of the Merger have been retroactively restated to reflect the conversion ratio of MMR Inc. to MMR shares.

				Weighted-
				Average
			Weighted-	Remaining
			Average	Contractual		Aggregate
			Exercise	Life		Intrinsic
	Options		Price	(Years)		Value
Outstanding at December 31, 2014	37,541,722	$	0.10	4.29	$	-
Granted	-	$	-	-	$	-
Exercised	-	$	-	-	$	-
Cancelled	-	$	-	-	$	-
Outstanding at March 31, 2015 (Unaudited)	37,541,722	$	0.10	4.37	$	-
Vested and expected to vest
at March 31, 2015 (Unaudited)	37,541,722	$	0.10	4.37	$	-
Exercisable at March 31, 2015 (Unaudited)	36,841,722	$	0.10	4.36	$	-

The aggregate intrinsic value in the table above is before applicable income taxes and is calculated based on the difference between the exercise price of the options and the quoted price of the common stock as of the reporting date.

There were no options issued during the three months ended March 31, 2015.

Total stock option expenses recorded during the three months ended March 31, 2015 and 2014 were $5,525 and $69,961, respectively.

The following table summarizes information about stock options outstanding and exercisable at March 31, 2015.

		Options Outstanding				Options Exercisable
			Weighted		Weighted		Weighted		Weighted
			Average		Average		Average		Average
	Exercise	Number	Remaining		Exercise	Number	Remaining		Exercise
	Price	of Shares	Life (Years)		Price	of Shares	Life (Years)		Price
$	0.05 - 0.08	12,900,000	6.56	$	0.07	12,200,000	6.47	$	0.06
$	0.08 - 0.15	23,011,461	3.20	$	0.11	23,011,461	3.20	$	0.11
$	> 0.15	1,630,261	3.64	$	0.18	1,630,261	3.64	$	0.18
		37,541,722				36,841,722

Warrants

There were no warrants issued during the three months ended March 31, 2015.

A summary of the activity of our warrants for the three months ended March 31, 2015 is presented below:

			Weighted Avg
	Shares		Exercise Price
Outstanding at December 31, 2014	70,028,410	$	0.06
Granted	-	$	-
Exercised	-	$	-
Cancelled	(4,750,000)	$	0.08
Outstanding at March 31, 2015 (Unaudited)	65,278,410	$	0.06
Exercisable at March 31, 2015 (Unaudited)	61,754,799	$	0.06

Total warrant expenses recorded during the three months ended March 31, 2015and 2014 were $5,490 and $38,721, respectively.

The following summarizes the total warrants outstanding and exercisable as of March 31, 2015:

	Warrants Outstanding				Warrants Exercisable
	Warrants	Weighted Avg		Weighted Avg	Warrants	Weighted Avg		Weighted Avg
Ranges	Outstanding	Remaining Life		Exercise Price	Exercisable	Remaining Life		Exercise Price
$0.02 - $0.06	47,299,348	2.07	$	0.04	45,775,737	2.07	$	0.04
$0.06 - $0.10	5,025,000	0.85	$	0.10	4,025,000	0.55	$	0.10
Greater - $0.10	12,954,062	1.38	$	0.15	11,954,062	1.43	$	0.15
	65,278,410				61,754,799

The inputs used for the Black-Scholes option and warrant valuation model were as follows:

	March 31, 2015	March 31, 2014
Expected life in years	2 - 5 Years	0 - 5 Years
Stock price volatility	120.51% - 122.72%	120.51% - 147.09%
Risk free interest rate	0.04% - 1.38%	0.12% - 0.13%
Expected dividends	None	None
Forfeiture rate	0%	0%

Shares Issued for Services or Reduction to Liabilities

During the three months ended March 31, 2015, we issued 3,000,000 shares of common stock with a value of $31,000 to various third parties and charged the proceeds to the appropriate accounts for the following reasons:

	Three Months Ended March 31, 2015
Purpose	Shares		Value
Reduction of payables	2,000,000	$	18,000
Services provided	1,000,000		13,000
Totals	3,000,000	$	31,000

The 3,000,000 issued shares were not contractually restricted. However, as these shares have not been registered under the Securities Act of 1933, as amended (the "Act"), they are restricted from sale until they are registered under the Act, or qualify for resale under the rules promulgated under the Act. All such shares were calculated at the trading closing price on the date of issuance.

Stock Bonus Agreements

From time to time, we issue shares of our common stock as a bonus for services rendered. Stock bonuses may be awarded upon satisfaction of specified performance goals pursuant to the Performance Stock Bonus Agreement.

On each grant date, we valued the stock bonus based on the share price and the expenses were amortized using the straight line method. Total stock bonus expenses recorded during the three months ended March 31, 2015 and 2014 were $0 and $ 119,375, respectively and are reflected in operating expenses in the accompanying consolidated statements of operations.

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STOCKHOLDERS' DEFICIT - Note 6

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

STOCKHOLDERS' DEFICIT - Note 6

NOTE 6 - STOCKHOLDERS' DEFICIT

Preferred Stock

We have 5,000,000 shares of preferred stock authorized. As of March 31, 2015, and December 31, 2014, there were no shares of preferred stock issued and outstanding.

Common Stock

As of March 31, 2015, we are authorized to issue 1,250,000,000 shares of common stock.

On May 24, 2012, we filed a registration statement on Form S-1 related to the offer and resale of up to 100,000,000 shares of our common stock by Granite. Granite has agreed to purchase all 100,000,000 shares offered sale under the registration statement, and an additional 1,000,000 shares were issued to Granite as partial consideration for the preparation of the documents related to the registration statement. Subject to the terms and conditions of the agreement with Granite, we have the right to put up to $15 million in shares of our common stock to Granite. As of March 31, 2015, the amount available under the equity line facility was $13.1 million; however, that amount could be reduced based on the market price of our stock at the time any shares are sold.

As of March 31, 2015, the total shares of our common stock issued and outstanding amounted to 778,972,739.

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Accounting Policies (Cash and Cash Equivalents) (Narrative) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2014	Dec. 31, 2013
Accounting Policies Cash And Cash Equivalents Narrative Details
Cash and cash equivalents	$ 0	$ 309,393	$ 103,985	$ 10,359

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SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2015

Share-based Compensation Tables

Schedule of Valuation Assumptions to Determine the Fair Value of Stock Options

The inputs used for the Black-Scholes option and warrant valuation model were as follows:

	March 31, 2015	March 31, 2014
Expected life in years	2 - 5 Years	0 - 5 Years
Stock price volatility	120.51% - 122.72%	120.51% - 147.09%
Risk free interest rate	0.04% - 1.38%	0.12% - 0.13%
Expected dividends	None	None
Forfeiture rate	0%	0%

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RESTRUCTURING ACTIVITIES - Note 10

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

RESTRUCTURING ACTIVITIES - Note 10

NOTE 10 - RESTRUCTURING ACTIVITIES

From May 29, 2008 to November 7, 2008, Favrille, Inc. had provided notices under the Federal Worker Adjustment and Retraining Notification Act to 142 employees, including six members of senior management, that it planned to conduct a workforce reduction at its facility in San Diego, California and that their employment was expected to end on various dates between June 6, 2008 to November 7, 2008. Immediately prior to the date of the Merger on January 27, 2009, the total severance liability relating to former Favrille employees amounted to $1,682,416. On January 27, 2009, immediately prior to the Merger, as part of the 9,999,992 warrants issued to creditors, we issued warrants as settlement of $985,020 of these amounts. These warrants expired unexercised as of March 31, 2014. In addition, we signed promissory notes with certain former executives totaling $76,783.

As of March 31, 2015, the total remaining severance liabilities amounted to $620,613, which is reflected as severance liability on the accompanying consolidated balance sheets. This consists of $571,362 payable to former non-executive employees in 18 monthly installments starting on July 27, 2009, as well as $49,251 in estimated payroll tax.

During the period from January 27, 2009 through June 30, 2009, we entered into a series of settlement agreements with certain vendors of Favrille pursuant to the Creditor Plan, pursuant to which we settled $302,982 of its outstanding accounts payable for an aggregate settlement amount of $214,402, including promissory notes of $139,355.

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NOTES PAYABLE - Note 8

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

NOTES PAYABLE - Note 8

NOTE 8 - NOTES PAYABLE

Notes payable consisted of the following:

		March 31,		December 31,
		2015		2014
Promissory notes payable due to the former officers of MMRGlobal as part of severance packages, due in full on August 31, 2009, with no stated interest	$	76,783	$	76,783
Promissory notes payable due to the former officers of MMRGlobal pursuant to the Resignation and Post-Merger Employment Arrangement, due in full on August 31, 2009, with no stated interest		25,444		25,444
Promissory notes payable due to vendors relating to settlement of certain outstanding accounts payable, payable in 18 equal monthly installments commencing on July 27, 2009 and ending on January 27, 2011, with no stated interest		223,116		223,116
Short term loan due to a third-party with 6% interest		35,000		35,000
		360,343		360,343
Less: current portion		(360,343)		(360,343)
Notes payable, less current portion	$	-	$	-
Short term loan due to a related-party, payable in full on January 2, 2014 with 12% interest	$	203,664	$	203,664
Short term loan due to a related-party, payable in full on May 31, 2014 with 12% interest		50,000		50,000
Notes payable related party, current portion		253,664		253,664
Less: current portion		(253,664)		(253,664)
Notes payable related party, less current portion	$	-	$	-

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CONVERTIBLE PROMISSORY NOTES - Note 9

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

CONVERTIBLE PROMISSORY NOTES - Note 9

NOTE 9 - CONVERTIBLE PROMISSORY NOTES

From time to time, we issue Convertible Promissory Notes. As of March31, 2015, a total of $987,827 in convertible notes remained outstanding. As of March 31, 2015, $811,857 of these Notes have matured, however, the Company and the Holders have agreed to keep the balance as a Note Payable and the note holders have elected not to convert their note balances into shares of our common stock as of March 31, 2015.

Each Note contains the following general terms and provisions:

• The principal amount owed under each note becomes due and payable one year or less from the investment date provided that, upon ten (10) days' prior written notice to the holder, we may, in our sole discretion, extend the maturity date for an additional six month term. The Notes can be further extended upon mutual agreement.
• These notes bear interest at a rate of 6% per annum payable in cash or shares of common stock or a combination of cash and shares of common stock at our option.

During the first quarter of 2015, we did not enter into any Convertible Promissory Notes.

Shares issuable upon conversion for convertible notes payable was 76,679,061 as of March 31, 2015.

The total interest expense attributed to the Beneficial Conversion Feature of the Notes and related warrants for the three months ended March 31, 2015 and 2014 was $22,780 and $69,765, respectively.

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RELATED PARTY TRANSACTIONS - Note 11

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

RELATED PARTY TRANSACTIONS - Note 11

NOTE 11 - RELATED PARTY TRANSACTIONS

Our Chairman and Chief Executive Officer, Robert H. Lorsch, is also the Chief Executive Officer of The RHL Group, Inc. and has full voting power over all of the capital stock of The RHL Group, Inc. Mr. Lorsch directly and indirectly through The RHL Group, Inc., beneficially owns approximately 13.1% our total outstanding voting stock. The RHL Group, Inc. has loaned us money pursuant to the Ninth Amended Note and all predecessor notes. See Note 3 - Related Party Note Payable above.

The RHL Group is an investment holding company which provides consulting, operational and technical services to us, which we refer to as the RHL Services. As part of the RHL Services, The RHL Group provides us with unrestricted access to its internal business and relationship contact database of more than 10,000 persons and entities, which includes clients of The RHL Group and other individuals which may hold value to us. The RHL Group also provides infrastructure support to us, including allowing us unlimited access to its facilities, equipment, and data, information management and server systems. In addition to allowing us the use of its office support personnel, The RHL Group has also consented to allow us to utilize the full-time services of Mr. Lorsch as our President, Chairman and Chief Executive Officer, which requires substantial time and energy away from his required duties as The RHL Group's Chairman and Chief Executive Officer. In addition, The RHL Group has made its President, Kira Reed, available as our spokesperson. Ms. Reed, who is Mr. Lorsch's spouse, also manages our social networking activities.

In consideration for the above, The RHL Group, Inc. has a consulting arrangement with MMR. A copy of the consulting agreement is filed as an exhibit in our Form 8-K, as filed with the SEC on May 4, 2009 and is hereby incorporated by reference.

We incurred $12,500 during the three months ended March 31, 2015 and 2014, toward marketing consulting services from Bernard Stolar, a director. We included $192,532 and $174,273 in related party payables as of March 31, 2015 and December 31, 2014, respectively, in connection with these services and board fees.

We contract with a significant vendor for the development and maintenance of the software applications necessary to run our MyMedicalRecords PHR, MyEsafeDepositBox and MyMedicalRecords Pro products. Our outside developer supports our software development needs through a team of software engineers, programmers, quality control personnel and testers, who work with our internal product development team on all aspects of application development, design, integration and support of our products. This vendor is also a stockholder. For the three months ended March 31, 2015 and 2014, the total expenses relating to this stockholder amounted to $30,000 and $30,000, respectively. In addition, we capitalized $0 of software development costs for the quarter ended March 31, 2015. As of March 31, 2015 and December 31, 2014, the total amounts due to the stockholder and included in related party payables amounted to $40,000 and $10,000, respectively.

On September 15, 2009, we entered into a five year agreement with E-Mail Frequency, LLC and David Loftus, Managing Partner of E-Mail Frequency, LLC, a significant stockholder of the Company. We licensed an existing 80 million person direct marketing database (the "Database") of street addresses, cellular phone numbers, e-mail addresses and other comprehensive data with E-Mail Frequency. The agreement allows us to market, through the use of the Database, our MyMedicalRecords PHR, MyEsafeDepositBox virtual vault, and MMRPro document management system to physicians and their patients. Under the terms of the Agreement, we paid $250,000 to David Loftus as a one-time consulting fee in the form of 2,777,778 shares of our common stock. We recorded the $250,000 one-time licensee fee as a prepaid consulting fee. Amortization expense for each of the quarters ended March 31, 2015 and 2014 was $0 and $12,500. In addition, we incurred a total of $0 during the quarters ended March 31, 2015 and 2014, toward convertible notes interest to Mr. Loftus. We included in related party payables at March 31, 2015 and December 31, 2014 of $64,615 and $64,615, respectively, in respect to these services. Effective September 1, 2011, we signed an Amendment to the Agreement dated September 15, 2009 to provide licensor a non-exclusive right to target, market and exploit the Employee Benefits market.

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Equity Issuances (Stock Option and Warrant Expense Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Equity Issuances Stock Option And Warrant Expense Narrative Details
Stock option expense	$ 5,525	$ 69,961
Warrant expense	$ 5,490	$ 38,721

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EQUITY ISSUANCES (Tables)

3 Months Ended

Mar. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of Outstanding Option Awards

A summary of option activity for the three months ended March 31, 2015 is presented below. Options granted by MMR Inc. prior to the date of the Merger have been retroactively restated to reflect the conversion ratio of MMR Inc. to MMR shares.

				Weighted-
				Average
			Weighted-	Remaining
			Average	Contractual		Aggregate
			Exercise	Life		Intrinsic
	Options		Price	(Years)		Value
Outstanding at December 31, 2014	37,541,722	$	0.10	4.29	$	-
Granted	-	$	-	-	$	-
Exercised	-	$	-	-	$	-
Cancelled	-	$	-	-	$	-
Outstanding at March 31, 2015 (Unaudited)	37,541,722	$	0.10	4.37	$	-
Vested and expected to vest
at March 31, 2015 (Unaudited)	37,541,722	$	0.10	4.37	$	-
Exercisable at March 31, 2015 (Unaudited)	36,841,722	$	0.10	4.36	$	-

Summary of Stock Options Outstanding and Exercisable

The following table summarizes information about stock options outstanding and exercisable at March 31, 2015.

		Options Outstanding				Options Exercisable
			Weighted		Weighted		Weighted		Weighted
			Average		Average		Average		Average
	Exercise	Number	Remaining		Exercise	Number	Remaining		Exercise
	Price	of Shares	Life (Years)		Price	of Shares	Life (Years)		Price
$	0.05 - 0.08	12,900,000	6.56	$	0.07	12,200,000	6.47	$	0.06
$	0.08 - 0.15	23,011,461	3.20	$	0.11	23,011,461	3.20	$	0.11
$	> 0.15	1,630,261	3.64	$	0.18	1,630,261	3.64	$	0.18
		37,541,722				36,841,722

Summary of Outstanding Warrant Awards

A summary of the activity of our warrants for the three months ended March 31, 2015 is presented below:

			Weighted Avg
	Shares		Exercise Price
Outstanding at December 31, 2014	70,028,410	$	0.06
Granted	-	$	-
Exercised	-	$	-
Cancelled	(4,750,000)	$	0.08
Outstanding at March 31, 2015 (Unaudited)	65,278,410	$	0.06
Exercisable at March 31, 2015 (Unaudited)	61,754,799	$	0.06

The following summarizes the total warrants outstanding and exercisable as of March 31, 2015:

	Warrants Outstanding				Warrants Exercisable
	Warrants	Weighted Avg		Weighted Avg	Warrants	Weighted Avg		Weighted Avg
Ranges	Outstanding	Remaining Life		Exercise Price	Exercisable	Remaining Life		Exercise Price
$0.02 - $0.06	47,299,348	2.07	$	0.04	45,775,737	2.07	$	0.04
$0.06 - $0.10	5,025,000	0.85	$	0.10	4,025,000	0.55	$	0.10
Greater - $0.10	12,954,062	1.38	$	0.15	11,954,062	1.43	$	0.15
	65,278,410				61,754,799

Black-Scholes option and valuation model assumptions

The inputs used for the Black-Scholes option and warrant valuation model were as follows:

	March 31, 2015	March 31, 2014
Expected life in years	2 - 5 Years	0 - 5 Years
Stock price volatility	120.51% - 122.72%	120.51% - 147.09%
Risk free interest rate	0.04% - 1.38%	0.12% - 0.13%
Expected dividends	None	None
Forfeiture rate	0%	0%

Shares Issued for Services or Reduction to Liabilities

During the three months ended March 31, 2015, we issued 3,000,000 shares of common stock with a value of $31,000 to various third parties and charged the proceeds to the appropriate accounts for the following reasons:

	Three Months Ended March 31, 2015
Purpose	Shares		Value
Reduction of payables	2,000,000	$	18,000
Services provided	1,000,000		13,000
Totals	3,000,000	$	31,000

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Accounting Policies (Net Income/Loss Per Share) (Narrative) (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies Net Incomeloss Per Share Narrative Details
Stock options, warrants and convertible notes excluded from the computation of net loss per share	148,955,582	85,972,884

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Convertible Promissory Notes (Narrative) (Details) (USD $)

3 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Convertible Promissory Notes Narrative Details

Debt instrument, description

From time to time, we issue Convertible Promissory Notes. As of March31, 2015, a total of $987,827 in convertible notes remained outstanding. As of March 31, 2015, $811,857 of these Notes have matured, however, the Company and the Holders have agreed to keep the balance as a Note Payable and the note holders have elected not to convert their note balances into shares of our common stock as of March 31, 2015.

Each Note contains the following general terms and provisions:

• The principal amount owed under each note becomes due and payable one year or less from the investment date provided that, upon ten (10) days' prior written notice to the holder, we may, in our sole discretion, extend the maturity date for an additional six month term. The Notes can be further extended upon mutual agreement.
• These notes bear interest at a rate of 6% per annum payable in cash or shares of common stock or a combination of cash and shares of common stock at our option.

During the first quarter of 2015, we did not enter into any Convertible Promissory Notes.

Shares issuable upon conversion for convertible notes payable was 76,679,061 as of March 31, 2015.

The total interest expense attributed to the Beneficial Conversion Feature of the Notes and related warrants for the three months ended March 31, 2015 and 2014 was $22,780 and $69,765, respectively.

Debt Instrument, Convertible, Number of Equity Instruments

76,679,061

Creation of note discount

$ 124,120

Interest expense

$ 22,780

$ 69,765

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Consolidated Statements of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating activities:
Net loss	$ (741,343)	$ (1,649,352)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	94,101	78,365
Warrants issued for services	5,490	38,721
Stock-based compensation	5,525	189,336
Common stock issued for services	13,000	222,847
Amortization of loan discount	55,780	69,766
Subtotal - non-cash adjustments	173,896	599,035
Effect of changes in:
Accounts receivable	(1,296)	45,496
Prepaid expenses and other current assets	1,450	15,265
Accounts payable and accrued expenses	220,584	219,305
Related party payables	60,136	225,125
Compensation payable	48,350	94,518
Deferred revenue	(4,192)	(1,992)
Subtotal - net change in operating assets and liabilities	325,032	597,717
Net cash used in operating activities	(242,415)	(452,600)
Investing activities:
Purchase of property and equipment	(1,253)	0
Filing of patents	(97,700)	(75,979)
Cost of continuing MMRPro and website development	0	(32,021)
Net cash used in investing activities	(98,953)	(108,000)
Financing activities:
Proceeds from shares issued for financing activities	0	689,364
Proceeds from note payable	0	6,743
Proceeds (payments) of line of credit	11,196	(40,669)
Book overdraft	20,779	0
Payments of capital lease	0	(1,212)
Net cash provided by financing activities	31,975	654,226
Net increase (decrease) in cash	(309,393)	93,626
Cash, beginning of period	309,393	10,359
Cash, end of period	0	103,985
Supplemental disclosure of non-cash investing and financing activities:
Conversion of convertible notes into common stock	0	190,000
Shares issued for reduction of payables	$ 18,000	$ 119,498

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COMMITMENTS AND CONTINGENCIES - Note 5

3 Months Ended

Mar. 31, 2015

Notes to Financial Statements

COMMITMENTS AND CONTINGENCIES - Note 5

NOTE 5 - COMMITMENTS AND CONTINGENCIES

Leases

Effective September 1, 2013, we renewed our lease for office space in Los Angeles, California with a term through August 31, 2018. The lease currently requires a monthly payment of $8,250. Total rent expense for the three months ended March 31, 2015 and 2014 were $30,670 and $33,000 respectively. Future minimum lease payments as of March 31, 2015, under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) are as follows:

Year Ending		Operating		Capital
December 31,		Leases		Leases
2015 (Remainder of)	$	170,500	$	13,221
2016		187,550		-
2017		206,305		-
2018		146,410		-
		710,765		13,221
Less current portion		-		(13,221)
Total minimum lease payments	$	710,765	$	-

Legal Matters and Contingencies - Note 5

Litigation Matters

From time to time, we are involved in various legal proceedings generally incidental to our business. While the result of any litigation contains an element of uncertainty, our management presently believes that the outcome of any known, pending or threatened legal proceeding or claim, individually or combined, will not have a material adverse effect on our financial statements.

On December 9, 2011, MyMedicalRecords, Inc. entered into a Non-Exclusive Settlement and Patent License Agreement with Surgery Center Management LLC ("SCM"). In consideration for the rights granted under that Agreement and in consideration of a settlement and release agreement, SCM contracted to pay MyMedicalRecords, Inc. an initial payment of $5 million payable on December 23, 2011, and additional payments of $5 million per year for five consecutive years. After unsuccessful attempts to collect the past due amount of $5 million, on January 19, 2012, MyMedicalRecords, Inc. filed a lawsuit in the Superior Court of the State of California for the County of Los Angeles for breach of contract and it intends to seek $30 million in damages. On February 13, 2014, SCM filed an answer to the complaint and a cross-complaint alleging claims for breach of that contract, among other things. On July 10, 2014, the court granted SCM's motion for summary adjudication on the claim for breach of contract in the complaint and its counterclaim for declaratory relief. On July 30, 2014, SCM filed its second amended cross-complaint, alleging substantially the same claims against the same parties. On December 5, 2014, the Court of Appeal issued an Alternative Writ of Mandate, finding the trial court erred in granting [SCM's] motion for summary adjudication. Pursuant to the Court of Appeal's Alternative Writ, on January 7, 2015, the trial court vacated its order granting SCM's motion for summary adjudication. On April 24, 2015, the trial court held a new hearing on that motion, and it entered an order denying SCM's motion in its entirety. MyMedicalRecords, Inc. will continue to pursue its claim and defenses, but the Company cannot predict the chances of either a favorable or unfavorable outcome, nor does the Company have sufficient information regarding its ability to collect any judgment MyMedicalRecords, Inc. may obtain.

On April 10, 2013, MMR filed a complaint for patent infringement against Quest Diagnostics Inc. ("Quest") in the United States District Court for the Central District of California, alleging that Quest Diagnostics Inc. is infringing U.S. Patent No. 8,301,466. On October 11, 2013, MMR filed an unopposed motion to add a claim of infringement of U.S. Patent 8,498,883 to its complaint against Quest, which was granted on October 29, 2013. MMR is seeking damages from Quest. On December 22 and 23, 2014, the Court entered orders finding that the eight claims asserted (of the 42 total claims present) under the two asserted MMR patents were invalid. MMR is appealing those orders to the U.S. Court of Appeals for the Federal Circuit. Quest has agreed to stay the filing of fees and costs until resolution of the appeal.

On February 11, 2013, MMR filed a complaint for patent infringement against WebMD Health Corp. and its wholly owned subsidiary WebMD Health Services Group, Inc. (collectively, "WebMD"), titled MyMedicalRecords, Inc. v. WebMD Health Corp et al., United States District Court, Central District of California. That complaint alleged that WebMD is infringing MMR's Personal Health Records patent U.S. Patent No. 8,301,466. MMR is seeking damages against WebMD. On October 2, 2013, MMR filed a new complaint against WebMD in the United States District Court for the Central District of California, alleging infringement of U.S. Patent Nos. 8,301,466 and 8,498,883. On December 22 and 23, 2014, the Court entered orders finding that the eight claims asserted (of the 42 total claims present) under the two asserted MMR patents were invalid. MMR is appealing those orders to the U.S. Court of Appeals for the Federal Circuit. WebMD has filed a motion to recover fees and costs, which MMR opposes.

On May 17, 2013, MMR filed a complaint for patent infringement against Jardogs, LLC (the "Jardogs Complaint") in the United States District Court for the Central District of California, alleging that Jardogs, LLC infringes U.S. Patent No. 8,301,466. On September 23, 2013, MMR filed a separate complaint for patent infringement against Allscripts Healthcare Solutions Inc. ("Allscripts") titled MyMedicalRecords, Inc. v. Allscripts Healthcare Solutions Inc., United States District Court, Central District of California (the "Separate Allscripts Complaint"). The Separate Allscripts Complaint alleged that Allscripts is infringing U.S. Patent Nos. 8,301,466 and 8,498,883. On October 4, 2013, MMR filed a motion to amend the Jardogs Complaint to add Allscripts as a party defendant and to allege that Allscripts is infringing U.S. Patent Nos. 8,301,466 and 8,498,883. The Court granted that motion on November 1, 2013. Thereafter, MMR dismissed the Separate Allscripts Complaint. MMR is seeking damages for patent infringement from both Jardogs and Allscripts. On December 22 and 23, 2014, the Court entered orders finding that the eight claims asserted (of the 42 total claims present) under the two asserted MMR patents were invalid. MMR is appealing those orders to the U.S. Court of Appeals for the Federal Circuit. Allscripts has filed a motion to recover fees and costs, which MMR opposes. Allscripts also filed a Covered Business Method ("CBM") petition on November 3, 2014, before the Patent Trial and Appeal Board ("PTAB') alleging that claims 8-12 of U.S. Patent No. 8,301,466 are invalid. MMR filed a preliminary response on February 20, 2015. On May 5th the PTAB decided to implement the CBM.

On April 2, 2015, the Company and Stradling Yocca Carlson & Rauth, P.C. ("SYCR"), received a letter from a mediator in regards to disputes over amounts of monies due SYCR regarding prior services rendered. SYCR and the Company have agreed to a mediation of the matter, however at this time a mediation date has not been set. As of the date hereof, the Company cannot predict the chances of either a favorable or unfavorable outcome.

On August 14, 2013, Gemini Master Fund, Ltd. purchased a convertible note from the Company. On or about February 23, 2015, Gemini filed an action against the Company for breach of contract seeking damages allegedly owed pursuant to the convertible note in the amount of $210,000 in the United States District Court for the Southern District of New York. MMR disputes it owes this amount. The litigation recently commenced and the Company cannot predict the chances of either a favorable or an unfavorable outcome.

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Related Party Note Payable (Narrative) (Details) (Ninth Amended and Restated Secured Promissory Note, USD $)

3 Months Ended

Mar. 31, 2015

Mar. 31, 2014

Dec. 31, 2014

Ninth Amended and Restated Secured Promissory Note

Date of note

Apr. 29, 2014

Maximum line of credit under note

On July 10, 2014, we and The RHL Group entered into a Ninth Amended and Restated Promissory Note (the "Amended Note"), effective as of April 29, 2014. The Amended Note amends and restates that certain Eighth Amended Note entered into between the foregoing parties, effective April, 29, 2014 (the " Existing Note " and together with its predecessor notes and the Amended Note, the " Credit Facility "), by: (i) extending the maturity date to April 29, 2015. In connection with the Ninth Amended Note, we issued The RHL Group warrants to purchase 2,781,561 shares of our common stock at $0.035 per share on July 10, 2014. Except as set forth above, the Amended Note does not materially alter the terms of the Existing Note. The Board of Directors has authorized the renewal of the Ninth Amended Note and we are currently in the process of such renewal.

Historically, the predecessor notes have increased over time the maximum amount of credit available under the Credit Facility from $100,000 to $1,000,000 to $3,000,000 to $4,500,000. The maximum amount of the Amended Note is $4,500,000. The Amended Note continues to bear interest at the lesser of 10% or the highest rate then permitted by law, and is secured (similar to the Existing Note) by a Security Agreement, which has been in effect since July 31, 2007, as renewed and amended to date (the "Security Agreement").

The Ninth Amended Note had a balance of $1.31 million at March 31, 2015. The components of the Ninth Amended Note and the related balance sheet presentation as of March 31, 2015 are as follows: $0.8 million, which is included in the line of credit, related party; and $0.51 million for other obligations due to The RHL Group, which is included in related party payables.

Total interest expense on the Line of Credit for the three months ended March 31, 2015 and 2014 amounted to $30,676 and $35,112, respectively. The unpaid interest balances as of March 31, 2015 and December 31, 2014 were $60,257 and $30,160, respectively.

In conjunction with the Ninth Amended Note, we were required to maintain certain financial covenants, including the requirement that we have at least $200,000 of cash in our bank accounts or such other amount as necessary to maintain operations through the subsequent thirty (30) days and timely pay any obligations due respecting payroll and all associated payroll taxes on and after March 31, 2015. Since we did not meet these covenants as of March 31, 2015, we received a waiver from The RHL Group until May 22, 2015.

Maturity date

Apr. 29, 2015

Warrants granted for shares

2,781,561

Warrant price per share

$ 0.035

Debt component classification:

Line of credit, related party

$ 800,000

Related party payables

510,000

Total note payable balance

1,310,000

Interest expense on line of credit

30,676

35,112

Related party accrued interest

$ 60,257

$ 30,160

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Equity Issuances (Shares Issued for Services or Reduction to Liabilities) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015
Equity Issuances Shares Issued For Services Or Reduction To Liabilities Details
Reduction of payables, shares	2,000,000
Reduction of payables, amount	$ 18,000
Services provided, shares	1,000,000
Services provided, amount	13,000
Total payment of services provided through issuance of common stock, shares	3,000,000
Total payment of accounts payable through issuance of common stock, amount	$ 31,000

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COMMITMENTS AND CONTINGENCIES (Tables)

3 Months Ended

Mar. 31, 2015

Commitments And Contingencies Tables

Schedule of Future Minimum Rental Payments for Operating and Capital Leases

Future minimum lease payments as of March 31, 2015, under non-cancelable operating leases (with initial or remaining lease terms in excess of one year) are as follows:

Year Ending		Operating		Capital
December 31,		Leases		Leases
2015 (Remainder of)	$	170,500	$	13,221
2016		187,550		-
2017		206,305		-
2018		146,410		-
		710,765		13,221
Less current portion		-		(13,221)
Total minimum lease payments	$	710,765	$	-