DERIVATIVE LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2013

DERIVATIVE LIABILITIES [Abstract]

Components of derivative financial instruments

The following tabular presentation reflects the components of derivative financial instruments on the Company’s balance sheet at December 31, 2013 and December 31, 2012:

Components of derivative financial instruments
	12/31/13	12/31/12
Common stock warrants	$95,049	$6,626,255
Embedded conversion features for
convertible debt or preferred shares	-	1,399,126
Total	$95,049	$8,025,381
Beginning balance	$8,025,381	$11,031,432
Change in derivative liability valuation	(966,736)	1,514,156
Change in derivative liability - settlements	(6,963,596)	(4,520,207)
Total	$95,049	$8,025,381