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PREFERRED STOCK
9 Months Ended
Sep. 30, 2014
PREFERRED STOCK [Abstract]  
PREFERRED STOCK
NOTE 11 – PREFERRED STOCK

On March 18, 2013, Brightline Ventures I converted the Series II Convertible Preferred Stock of $3,326,697 together with $533,000 of accrued dividends thereon into 3,859,697 shares of the Company’s Common Stock.  As of March 31, 2013 there was no Series II Convertible Preferred Stock outstanding.  The value of the Series II Preferred Stock and dividends converted was equal to the total value recorded to common stock and additional paid in capital with no gain or loss recorded as the conversion was consistent with the original agreement.  As a result of the preferred stock conversion, $2,690,056 was recorded to common stock and additional paid-in capital.
 
As of September 30, 2013, no shares of Series I or II Preferred Stock remained outstanding.