SHORT-TERM BORROWINGS (Tables)

12 Months Ended

Dec. 31, 2014

SHORT-TERM BORROWINGS [Abstract]

Summary of the principal and interest activity

Below is a summary of the principal and interest activity for the year ended December 31, 2014:

	Principal			Interest
Balance at December 31, 2013	$	-		$	-
Principal advances and accrued interest		700,000			94,924
Principal payments and interest		(111,789	)		(92,408	)
Balance at December 31, 2014	$	588,211		$	2,516