Income Taxes (Tables)

12 Months Ended

Dec. 31, 2014

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Note 12 - Income Taxes

Due to our substantial operating losses and the valuation allowance applied against our deferred tax assets, we have not recorded any income tax expense or benefit.

	December 31,		December 31,
	2014		2013
Current:
Federal	$	-	$	-
State		-		-
		-		-
Deferred:
Federal		-		-
State		-		-
		-		-
Provision for income tax, net	$	-	$	-

Schedule of Effective Income Tax Rate Reconciliation

Income taxes related to our loss from operations differ from the amount computed using the federal statutory income tax rate as follows for the years ended December 31, 2014 and 2013:

	2014		2013
Tax benefit computed at the federal statutory rate	$	(5,701,569)	$	(8,466,361)
State income tax (benefit), net of federal income tax effect		(814,510)		(1,209,480)
Nondeductible permanent differences		(143,271)		6,042,555
Change in valuation allowance		6,659,350		3,633,286
Provision for income taxes	$	-	$	-

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2014 and 2013, our deferred tax assets (liabilities) are as follows:

	2014		2013
Deferred Tax Assets:
Non-cash interest expense	$	2,828,837	$	1,677,305
Share-based compensation		4,061,677		3,833,855
Impairment of intangible assets		218,300		-
Other		254,740		254,740
Net operating loss carry forward		15,159,830		10,098,134
Less: Valuation allowance		(22,220,990)		(15,561,640)
		302,394		302,394
Deferred Tax Liabilities:
Property and equipment		(302,394)		(302,394)
Net deferred asset (liability)	$	-	$	-