COMMON STOCK	12 Months Ended
Dec. 31, 2014
COMMON STOCK [Abstract]
COMMON STOCK	NOTE 14 – COMMON STOCK COMMON STOCK ISSUED TO DIRECTORS On January 2, 2014 the Company issued 285,716 shares of common stock to then four non-executive directors (71,429 shares each) Mark Hershhorn, Brian Israel, Morris Garfinkle and Edward Smith III. The Company recognized a total expense of $160,001 related to these issuances. These shares were valued based on the closing price on the grant date. On January 22, 2013 the Company issued 114,944 shares of common stock to its four non-executive directors, Mark Hershhorn, Morris Garfinkle, Brian Israel and Edward Smith (28,736 shares each). The Company recognized a total expense of $200,002 related to these issuances. These shares were valued based on the closing price on the grant date. COMMON STOCK ISSUED FOR SERVICES There were no shares issued for services during the year ended December 31, 2014. On October 28, 2013, the Company entered into a Consulting Agreement with Steeltown Consulting Group, LLC, pursuant to which Steeltown will assist in evaluating various business and financial matters. The Company issued 220,000 restricted shares of common stock as consideration for the services being rendered in this agreement. This agreement was scheduled to terminate on January 31, 2014. On December 3, 2013, the Company and Steeltown entered into a new Consulting Agreement (which replaces the agreement dated October 28, 2013) in which both the Company and Steeltown substantially agreed to the same services being rendered as the previous agreement. The Company issued 550,000 shares of restricted common stock as consideration for the services being rendered under this new agreement. This agreement will terminate on January 31, 2015. The common stock was valued at $569,800 based on the closing prices of the stock on the dates the agreements were executed. COMMON STOCK ISSUED ON THE EXERCISE OF WARRANTS FOR CASH During the year ended December 31, 2014 there were no warrants exercised for cash. During the three months ended March 31, 2013, several investors participated in a warrant exercise program that resulted in the exercise of 1,756,088 warrants into 1,756,088 shares of the Company’s common stock. The warrant program, which was open to all holders of $1.50 warrants, allowed those warrant holders to exercise their warrants for a $1.25 strike price during February 2013; it also required a waiver of the anti-dilution provisions in these warrants until February 28, 2013 so that those provisions would not be triggered by the exercises. The conversion of these warrants raised $2,195,110 of cash for the Company. As a result of this warrant modification the Company recognized $4,789,801 of additional expense for previously issued warrants during the period ended March 31, 2013. The value of the additional expense was based on the fair value of the warrant modification at the date the offer was made to the warrant holders calculated by using the Black-Scholes Model. The key inputs utilized in this model include the Company’s stock price on the date of the modification of $2.30, the computed volatility of the Company’s stock price at 109.96% and the discount rate used based on a U.S. Treasury security for a comparable period to the remaining term of the warrants of .06%. Also during fiscal 2013, in addition to the warrant exercise program, investors exercised 369,759 warrants and the Company received proceeds of $210,880. COMMON STOCK ISSUED ON THE CASHLESS EXERCISE OF WARRANTS During the year ended December 31, 2014 the Company did not issue any shares of common stock on the cashless exercise of warrants. Beginning August 20, 2013 and in conjunction with the private placement subscription agreement entered into between the Company and Brightline Ventures I-C, LLC (indicated below and referred to as the “1.25 Raise”), the Company (i) allowed the holders of the Company’s outstanding warrants with a $1.50 per share exercise price (the “$1.50 Warrants”) with certain anti-dilution provisions contained in the related warrant agreements to choose to exercise their $1.50 Warrants on a cashless basis such that for every ten $1.50 Warrants exercised, the holder received 4.5 shares of common stock (fractional shares were rounded up) (the “Cashless Exercise Program”), (ii) sought a temporary waiver from the holders of the $1.50 Warrants of the anti-dilution provisions in the warrant agreements with respect to the Cashless Exercise Program and potential capital-raising activities (other than the $1.25 Raise) by the Company by December 31, 2013, and (iii) asked the holders of the $1.50 Warrants to permanently amend the warrant agreements with respect to certain ratchet provisions so as to reduce the derivative liability the Company incurs as a result of those provisions in the agreements. The Cashless Exercise Program resulted in 7,172,751 of the $1.50 Warrants being converted into 3,227,742 shares of the Company’s common stock (including 5,718,750 $1.50 Warrants that were converted by Brightline Ventures I into 2,573,438 shares of common stock). As a result of the Cashless Exercise Program, the Company recognized a loss on equity modification of $990,656—the difference in value between the $1.50 Warrants exercised and the common stock issued— for the three months ended September 30, 2013. As a result of the August 20, 2013 transaction with Brightline Ventures I, pursuant to the anti-dilution provisions in the $1.50 Warrants that were not exercised as part of the Cashless Exercise Program, the Company reduced the exercise price of those warrants to $1.25 per share and adjusted the number of shares issuable upon the exercise of those warrants such that for every five warrants owned, each remaining holder of $1.50 Warrants received one additional warrant with an exercise price of $1.25. There were a total of 11,880,047 warrants that were not exercised as part of the Cashless Exercise Program. In addition, the warrant holders agreed to permanently waive the full reset feature contained in the original warrant. As a result, the Company issued an aggregate of 2,376,009 additional warrants at an exercise price of $1.25 per share (including 2,316,597 additional warrants that were issued to Brightline Ventures I) to the holders of $1.50 Warrants that were not exercised as part of the Cashless Exercise Program and recognized a settlement to additional paid in capital for the related derivative liability of $1,712,356. On August 20, 2013, the Company raised additional capital by entering into a private placement subscription agreement with Brightline Ventures I-C, LLC, an affiliate of its controlling stockholder, pursuant to which it sold 376,000 shares of common stock, for a price of $1.25 per share (the “1.25 Raise”), and received gross proceeds of $470,000. Contemporaneous with the $1.25 Raise, the Company (i) allowed the holders of the Company’s outstanding warrants with a $1.50 per share exercise price (the “$1.50 Warrants”) with certain anti-dilution provisions contained in the related warrant agreements to choose to exercise their $1.50 Warrants on a cashless basis such that for every ten $1.50 Warrants exercised, the holder received 4.5 shares of common stock (fractional shares were rounded up) (the “Cashless Exercise Program”), (ii) sought a temporary waiver from the holders of the $1.50 Warrants of the anti-dilution provisions in the warrant agreements with respect to the Cashless Exercise Program and potential capital-raising activities (other than the $1.25 Raise) by the Company by December 31, 2013, and (iii) asked the holders of the $1.50 Warrants to permanently amend the warrant agreements with respect to certain ratchet provisions so as to reduce the derivative liability the Company incurs as a result of those provisions in the agreements. The Cashless Exercise Program resulted in 7,172,751 of the $1.50 Warrants being converted into 3,227,742 shares of the Company’s common stock (including 5,718,750 $1.50 Warrants that were converted by Brightline into 2,573,438 shares of common stock). As a result of the Cashless Exercise Program, the Company recognized a loss on equity modification of $990,656—the difference in value between the $1.50 Warrants exercised and the common stock issued— for the three months ended September 30, 2013. As a result of the August 20, 2013 transaction with Brightline, pursuant to the anti-dilution provisions in the $1.50 Warrants that were not exercised as part of the Cashless Exercise Program, the Company reduced the exercise price of those warrants to $1.25 per share and adjusted the number of shares issuable upon the exercise of those warrants such that for every five warrants owned, each remaining holder of $1.50 Warrants received one additional warrant with an exercise price of $1.25. Thus, the Company issued an aggregate of 2,376,009 additional warrants at an exercise price of $1.25 per share (including 2,316,597 additional warrants that were issued to Brightline) to the holders of $1.50 Warrants that were not exercised as part of the Cashless Exercise Program On September 18, 2013, the Company entered into another private placement subscription agreement with Brightline Ventures I-C, LLC, pursuant to which it sold 468,571 shares of common stock for a price of $1.05 per share, along with warrants to purchase 234,286 shares of common stock at an exercise price of $1.50 per share (the “1.05 Raise”), and received gross proceeds of $492,000. The waiver discussed above was effective for the $1.05 Raise; therefore, no additional warrants were issued and no exercise price adjustments were made pursuant to anti-dilution and ratchet provisions as a result of the $1.05 Raise. Also during fiscal 2013, other investors exercised 909,784 warrants on a cashless basis and received 378,415 shares of common stock. COMMON STOCK ISSUED ON THE EXERCISE OF STOCK OPTIONS FOR CASH During the year ended December 31, 2014 there were no stock options exercised for cash. During the year ended December 31, 2013 two former employees exercised 91,400 stock options and the Company received proceeds of $77,734. COMMON STOCK ISSUED ON THE CASHLESS EXERCISE OF STOCK OPTIONS During the year ended December 31, 2014 the Company did not issue any shares of common stock on the cashless exercise of stock options. During the year ended December 31, 2013 the Company issued 100,528 shares of common stock on the cashless exercise of 202,250 stock options. COMMON STOCK ISSUED IN PRIVATE PLACEMENTS On August 20, 2013, the Company raised additional capital by entering into a private placement subscription agreement with Brightline Ventures I-C, LLC, an affiliate of its controlling stockholder, pursuant to which it sold 376,000 shares of common stock, for a price of $1.25 per share (the “1.25 Raise”), and received gross proceeds of $470,000. On September 18, 2013, the Company entered into another private placement subscription agreement with Brightline Ventures I-C, LLC, pursuant to which it sold 468,571 shares of common stock for a price of $1.05 per share, along with warrants to purchase 234,286 shares of common stock at an exercise price of $1.50 per share (the “1.05 Raise”), and received gross proceeds of $492,000. The waiver discussed above was effective for the $1.05 Raise; therefore, no additional warrants were issued and no exercise price adjustments were made pursuant to anti-dilution and ratchet provisions as a result of the $1.05 Raise. COMMON STOCK ISSUED IN PUBLIC OFFERING On November 18, 2013, the Company completed the sale of 1,866,667 shares of common stock at a price of $0.75 per share along with warrants to purchase 1,400,000 shares of common stock at an exercise price of $1.00 per share. The Company received after deducting various transaction expenses, net proceeds of $1,210,165. COMMON STOCK PAYABLE On February 12, 2013 (the “Settlement Date”), the Company entered into a settlement and release agreement with a former provider of investment services over compensation provided in a prior period for services in the raising of equity capital for the Company. The agreement called for the Company to issue 875,000 shares of common stock to this party. As of December 31, 2012, the Company recorded a common stock payable in the amount of $1,881,250, which was equal to the value of the 875,000 shares on the Settlement Date. As of the Settlement Date, the Company issued the shares and recorded an increase to common stock and additional paid in capital with the offset to common stock payable.

NOTE 14 – COMMON STOCK

COMMON STOCK ISSUED TO DIRECTORS

On January 2, 2014 the Company issued 285,716 shares of common stock to then four non-executive directors (71,429 shares each) Mark Hershhorn, Brian Israel, Morris Garfinkle and Edward Smith III. The Company recognized a total expense of $160,001 related to these issuances. These shares were valued based on the closing price on the grant date.

On January 22, 2013 the Company issued 114,944 shares of common stock to its four non-executive directors, Mark Hershhorn, Morris Garfinkle, Brian Israel and Edward Smith (28,736 shares each). The Company recognized a total expense of $200,002 related to these issuances. These shares were valued based on the closing price on the grant date.

COMMON STOCK ISSUED FOR SERVICES

There were no shares issued for services during the year ended December 31, 2014.

On October 28, 2013, the Company entered into a Consulting Agreement with Steeltown Consulting Group, LLC, pursuant to which Steeltown will assist in evaluating various business and financial matters. The Company issued 220,000 restricted shares of common stock as consideration for the services being rendered in this agreement. This agreement was scheduled to terminate on January 31, 2014. On December 3, 2013, the Company and Steeltown entered into a new Consulting Agreement (which replaces the agreement dated October 28, 2013) in which both the Company and Steeltown substantially agreed to the same services being rendered as the previous agreement. The Company issued 550,000 shares of restricted common stock as consideration for the services being rendered under this new agreement. This agreement will terminate on January 31, 2015. The common stock was valued at $569,800 based on the closing prices of the stock on the dates the agreements were executed.

COMMON STOCK ISSUED ON THE EXERCISE OF WARRANTS FOR CASH

During the year ended December 31, 2014 there were no warrants exercised for cash.

During the three months ended March 31, 2013, several investors participated in a warrant exercise program that resulted in the exercise of 1,756,088 warrants into 1,756,088 shares of the Company’s common stock. The warrant program, which was open to all holders of $1.50 warrants, allowed those warrant holders to exercise their warrants for a $1.25 strike price during February 2013; it also required a waiver of the anti-dilution provisions in these warrants until February 28, 2013 so that those provisions would not be triggered by the exercises. The conversion of these warrants raised $2,195,110 of cash for the Company. As a result of this warrant modification the Company recognized $4,789,801 of additional expense for previously issued warrants during the period ended March 31, 2013. The value of the additional expense was based on the fair value of the warrant modification at the date the offer was made to the warrant holders calculated by using the Black-Scholes Model. The key inputs utilized in this model include the Company’s stock price on the date of the modification of $2.30, the computed volatility of the Company’s stock price at 109.96% and the discount rate used based on a U.S. Treasury security for a comparable period to the remaining term of the warrants of .06%.

Also during fiscal 2013, in addition to the warrant exercise program, investors exercised 369,759 warrants and the Company received proceeds of $210,880.

COMMON STOCK ISSUED ON THE CASHLESS EXERCISE OF WARRANTS

During the year ended December 31, 2014 the Company did not issue any shares of common stock on the cashless exercise of warrants.

Beginning August 20, 2013 and in conjunction with the private placement subscription agreement entered into between the Company and Brightline Ventures I-C, LLC (indicated below and referred to as the “1.25 Raise”), the Company (i) allowed the holders of the Company’s outstanding warrants with a $1.50 per share exercise price (the “$1.50 Warrants”) with certain anti-dilution provisions contained in the related warrant agreements to choose to exercise their $1.50 Warrants on a cashless basis such that for every ten $1.50 Warrants exercised, the holder received 4.5 shares of common stock (fractional shares were rounded up) (the “Cashless Exercise Program”), (ii) sought a temporary waiver from the holders of the $1.50 Warrants of the anti-dilution provisions in the warrant agreements with respect to the Cashless Exercise Program and potential capital-raising activities (other than the $1.25 Raise) by the Company by December 31, 2013, and (iii) asked the holders of the $1.50 Warrants to permanently amend the warrant agreements with respect to certain ratchet provisions so as to reduce the derivative liability the Company incurs as a result of those provisions in the agreements.

The Cashless Exercise Program resulted in 7,172,751 of the $1.50 Warrants being converted into 3,227,742 shares of the Company’s common stock (including 5,718,750 $1.50 Warrants that were converted by Brightline Ventures I into 2,573,438 shares of common stock). As a result of the Cashless Exercise Program, the Company recognized a loss on equity modification of $990,656—the difference in value between the $1.50 Warrants exercised and the common stock issued— for the three months ended September 30, 2013.

As a result of the August 20, 2013 transaction with Brightline Ventures I, pursuant to the anti-dilution provisions in the $1.50 Warrants that were not exercised as part of the Cashless Exercise Program, the Company reduced the exercise price of those warrants to $1.25 per share and adjusted the number of shares issuable upon the exercise of those warrants such that for every five warrants owned, each remaining holder of $1.50 Warrants received one additional warrant with an exercise price of $1.25. There were a total of 11,880,047 warrants that were not exercised as part of the Cashless Exercise Program. In addition, the warrant holders agreed to permanently waive the full reset feature contained in the original warrant. As a result, the Company issued an aggregate of 2,376,009 additional warrants at an exercise price of $1.25 per share (including 2,316,597 additional warrants that were issued to Brightline Ventures I) to the holders of $1.50 Warrants that were not exercised as part of the Cashless Exercise Program and recognized a settlement to additional paid in capital for the related derivative liability of $1,712,356.

On August 20, 2013, the Company raised additional capital by entering into a private placement subscription agreement with Brightline Ventures I-C, LLC, an affiliate of its controlling stockholder, pursuant to which it sold 376,000 shares of common stock, for a price of $1.25 per share (the “1.25 Raise”), and received gross proceeds of $470,000.

Contemporaneous with the $1.25 Raise, the Company (i) allowed the holders of the Company’s outstanding warrants with a $1.50 per share exercise price (the “$1.50 Warrants”) with certain anti-dilution provisions contained in the related warrant agreements to choose to exercise their $1.50 Warrants on a cashless basis such that for every ten $1.50 Warrants exercised, the holder received 4.5 shares of common stock (fractional shares were rounded up) (the “Cashless Exercise Program”), (ii) sought a temporary waiver from the holders of the $1.50 Warrants of the anti-dilution provisions in the warrant agreements with respect to the Cashless Exercise Program and potential capital-raising activities (other than the $1.25 Raise) by the Company by December 31, 2013, and (iii) asked the holders of the $1.50 Warrants to permanently amend the warrant agreements with respect to certain ratchet provisions so as to reduce the derivative liability the Company incurs as a result of those provisions in the agreements.

The Cashless Exercise Program resulted in 7,172,751 of the $1.50 Warrants being converted into 3,227,742 shares of the Company’s common stock (including 5,718,750 $1.50 Warrants that were converted by Brightline into 2,573,438 shares of common stock). As a result of the Cashless Exercise Program, the Company recognized a loss on equity modification of $990,656—the difference in value between the $1.50 Warrants exercised and the common stock issued— for the three months ended September 30, 2013.

As a result of the August 20, 2013 transaction with Brightline, pursuant to the anti-dilution provisions in the $1.50 Warrants that were not exercised as part of the Cashless Exercise Program, the Company reduced the exercise price of those warrants to $1.25 per share and adjusted the number of shares issuable upon the exercise of those warrants such that for every five warrants owned, each remaining holder of $1.50 Warrants received one additional warrant with an exercise price of $1.25. Thus, the Company issued an aggregate of 2,376,009 additional warrants at an exercise price of $1.25 per share (including 2,316,597 additional warrants that were issued to Brightline) to the holders of $1.50 Warrants that were not exercised as part of the Cashless Exercise Program

On September 18, 2013, the Company entered into another private placement subscription agreement with Brightline Ventures I-C, LLC, pursuant to which it sold 468,571 shares of common stock for a price of $1.05 per share, along with warrants to purchase 234,286 shares of common stock at an exercise price of $1.50 per share (the “1.05 Raise”), and received gross proceeds of $492,000. The waiver discussed above was effective for the $1.05 Raise; therefore, no additional warrants were issued and no exercise price adjustments were made pursuant to anti-dilution and ratchet provisions as a result of the $1.05 Raise.

Also during fiscal 2013, other investors exercised 909,784 warrants on a cashless basis and received 378,415 shares of common stock.

COMMON STOCK ISSUED ON THE EXERCISE OF STOCK OPTIONS FOR CASH

During the year ended December 31, 2014 there were no stock options exercised for cash.

During the year ended December 31, 2013 two former employees exercised 91,400 stock options and the Company received proceeds of $77,734.

COMMON STOCK ISSUED ON THE CASHLESS EXERCISE OF STOCK OPTIONS

During the year ended December 31, 2014 the Company did not issue any shares of common stock on the cashless exercise of stock options.

During the year ended December 31, 2013 the Company issued 100,528 shares of common stock on the cashless exercise of 202,250 stock options.

COMMON STOCK ISSUED IN PRIVATE PLACEMENTS

COMMON STOCK ISSUED IN PUBLIC OFFERING

On November 18, 2013, the Company completed the sale of 1,866,667 shares of common stock at a price of $0.75 per share along with warrants to purchase 1,400,000 shares of common stock at an exercise price of $1.00 per share. The Company received after deducting various transaction expenses, net proceeds of $1,210,165.

COMMON STOCK PAYABLE

On February 12, 2013 (the “Settlement Date”), the Company entered into a settlement and release agreement with a former provider of investment services over compensation provided in a prior period for services in the raising of equity capital for the Company. The agreement called for the Company to issue 875,000 shares of common stock to this party. As of December 31, 2012, the Company recorded a common stock payable in the amount of $1,881,250, which was equal to the value of the 875,000 shares on the Settlement Date. As of the Settlement Date, the Company issued the shares and recorded an increase to common stock and additional paid in capital with the offset to common stock payable.