DERIVATIVE LIABILITY (Tables)

12 Months Ended

Dec. 31, 2015

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of derivative liabilities

Derivative liabilities at December 31, 2015 consist of the following:

Common stock warrants	$	11,043,126
Debt conversion features		14,402,519
	$	25,445,645

Schedule of ranges of assumptions utilized in estimating the fair value of the conversion options and warrants

The ranges of assumptions utilized in estimating the fair value of the derivative liabilities related to the conversion features and warrants on the dates of issuance, settlement, and at December 31, 2015, are as follows:

Expected Volatility	58% to 83%
Expected Term	0.0 to 5.0 Years
Risk Free Rate	0.02% to 1.8%
Dividend Rate	0.00%
Triggering capital raise probabilities	25% to 75%

Schedule of of derivative activity

A summary of derivative activity for the year ended December 31, 2015 is as follows:

Balance as of January 1, 2015	$	-
Warrants in connection with promissory notes payable (see Note 8)		556,892
Warrants and conversion features in connection with convertible notes payable, including day one derivative loss of $3,832,920 (see Note 9)		4,780,819
Note conversions		(2,706,167	)
Change in fair value, net of day one derivative loss of $3,832,920		22,814,101
Balance as of December 31, 2015	$	25,445,645