Convertible notes consist of the following:

 

		March 31, 2015									December 31, 2014
		Principal			Interest  [1]			Total			Principal			Interest  [1]			Total
8% convertible notes		$	287,500		$	198,247		$	485,747		$	287,500		$	188,988		$	476,488
12.5% convertible notes			50,000			27,628			77,628			50,000			25,433			75,433
Total		$	337,500		$	225,875		$	563,375		$	337,500		$	214,421		$	551,921

 

^[1] Accrued interest is included as a component of accrued expenses on the condensed consolidated balance sheets.

 

During the three months ended March 31, 2015 and 2014, the Company accrued $11,454 and $53,791, respectively, in connection with its convertible notes.