NET LOSS PER SHARE (Tables)

9 Months Ended

Sep. 30, 2015

Noncontrolling Interest [Abstract]

Reconciliation of the denominators used in the computation

The following table presents a reconciliation of the denominators used in the computation of net loss per share – basic and diluted:

		Three months ended September 30,				Nine months ended September 30,
		2015		2014		2015		2014
Net loss	$	(1,698,235)	$	(1,746,660)	$	(6,875,950)	$	(3,175,389)
Weighted average outstanding shares of common stock		14,399,029		13,545,738		13,847,561		13,476,962
Dilutive effect of stock options and warrants		--		--		--		--
Common stock and equivalents		14,399,029		13,545,738		13,847,561		13,476,962
Net loss per share – Basic and diluted	$	(0.12)	$	(0.13)	$	(0.50)	$	(0.24)

Dilutive effect on earnings per share

The following summarizes equity instruments that may, in the future, have a dilutive effect on earnings per share:

	September 30,
	2015	2014
Common stock upon conversion of debt	297,989	362,929
Stock options	1,017,500	--
Warrants	2,285,200	1,015,700
Stock payable	1,080,000	500,000
	4,680,689	1,878,629