INCOME TAXES

12 Months Ended

Dec. 31, 2013

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 15 – INCOME TAXES

During 2013 and 2012, the Company incurred net losses, and therefore had no tax liability.  The net deferred tax asset generated by the loss carry forward has been fully reserved.  The cumulative net loss carry forward is approximately $96,624,455 and $91,147,205 for the years ended December 31, 2013 and 2012 respectively, and will expire in the years 2021 through 2033.

At December 31, 2013, the net deferred tax asset based on a 34% tax rate consisted of the following:

	12/31/13	12/31/12
Net operating loss	$32,852,315	$30,990,050
Less: Valuation allowance	(32,852,315)	(30,990,050)
Net deferred tax asset	$-	$-

After evaluating our own potential tax uncertainties, the Company has determined that there are no material uncertain tax positions that have a greater than 50% likelihood of reversal if the Company were to be audited.  Our tax returns for the years ended December 31, 2013 and 2012 may be subject to IRS audit.