Note 3 - Fair Value of Financial Instruments: Fair Value, Liabilities Measured on Recurring Basis (Tables)

3 Months Ended

Mar. 31, 2015

Tables/Schedules

Fair Value, Liabilities Measured on Recurring Basis

Liabilities measured at fair value on a recurring basis are as follows at March 31, 2015:

	Total	Level 1	Level 2	Level 3
Derivative liability	$13,137,648	-	-	$13,137,648
Convertible debentures	1,725,339	-	-	1,725,339
Current portion of long-term debt	25,065	-	-	25,065
Long-term debt, net of current portion	16,212	-	-	16,212
Total liabilities measured at fair value	$14,904,264	-	-	$14,904,264