Annual report pursuant to Section 13 and 15(d)

CONVERTIBLE DEBT OBLIGATIONS (Tables)

v2.4.1.9
CONVERTIBLE DEBT OBLIGATIONS (Tables)
 12 Months Ended
Dec. 31, 2014
Convertible Debt [Abstract]  
Convertible Debt [Table Text Block]
Convertible notes consist of the following:
 
 
 
December 31,
 
 
 
2014
 
2013
 
 
 
Principal
 
Interest (1)
 
Total
 
Principal
 
Interest (1)
 
Total
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8% Convertible Notes
 
$
287,500
 
$
188,988
 
$
476,488
 
$
509,250
 
$
195,723
 
$
704,973
 
12.5% Convertible Notes
 
 
50,000
 
 
25,433
 
 
75,433
 
 
140,500
 
 
64,493
 
 
204,993
 
10% Convertible Notes
 
 
-
 
 
-
 
 
-
 
 
1,229,653
 
 
254,646
 
 
1,484,299
 
Total
 
$
337,500
 
$
214,421
 
$
551,921
 
$
1,879,403
 
$
514,862
 
$
2,394,265
 
 
[1] Accrued interest is included as a component of accrued expenses on the consolidated balance sheets.