SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2014

Accounting Policies [Abstract]

Schedule of carrying and estimated fair values of financial instruments

The carrying amounts and estimated fair values of other financial instruments (all are liabilities) at December 31, 2014 and 2013, are as follows (in thousands):

	December 31,
	2014					2013
	Carrying Amount			Estimated Fair Value		Carrying Amount			Estimated Fair Value
Promissory notes	$	—		$	—	$	—		$	—
Zero-coupon promissory Notes		—			—		—			—
Debentures		3,586,004			—		3,586,004			—
Senior promissory notes		1,771,013			—		1,771,013			—
Long-term promissory notes		—			—		—
Less unamortized discount		(55,200	)		—		(111,831	)		—
	$	5,301,817		$	—	$	5,245,186		$	—

Schedule of assumptions for options and warrants

The following table lists the assumptions utilized in applying the Black-Scholes valuation model for options and warrants.

	Year ended December 31,
	2014			2013
Expected volatility		160	%		160	%
Expected life (in years) of options		3	%		4	%
Expected life (in years) of warrants		2-3	%		2-3	%
Risk-free interest rate range, options		0	%		0	%
Risk-free interest rate range, warrants		0	%		0	%
Expected dividend yield		0	%		0	%

Computation of basic loss per common share

The following table sets forth the computation of basic loss per common share (amounts in thousands, except per share data):

	Year ended December 31,
	2014			2013
Numerator:
Net loss attributable to common stockholders	$	3,632,451		$	7,146,162
Denominator:	$	63,063,685		$	61,589,316
Weighted average common shares
Basic loss per share attributable to common stockholders	$	(0.06	)	$	(0.12	)