COMMON STOCK	12 Months Ended
Dec. 31, 2015
COMMON STOCK [Abstract]
COMMON STOCK	NOTE 13 – COMMON STOCK COMMON STOCK ISSUED TO DIRECTORS On January 2, 2014 the Company issued 285,716 shares of common stock to the then four non-executive directors (71,429 shares each) Mark Hershhorn, Brian Israel, Morris Garfinkle and Edward B. 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 February 24, 2015 the Company issued 576,924 shares of common stock to its three non- executive directors at such time (192,308 shares each) to Brian Israel, Morris Garfinkle and Dan Jeffery. The Company recognized a total expense of $150,000 related to these issuances. These shares were valued based on the closing price on the grant date. COMMON STOCK ISSUED FOR SERVICES On March 1, 2015, the Company entered into a Business Development Agreement with Steeltown Consulting Group, LLC, pursuant to which Steeltown will assist in evaluating various business and financial matters. The Company issued 400,000 restricted shares of common stock as consideration for the services being rendered in this agreement. The common stock was valued at $104,000 based on the closing prices of the stock on the date the agreement was executed. This agreement is scheduled to terminate on March 1, 2016. There were no shares issued for services during the year ended December 31, 2014. COMMON STOCK ISSUED ON THE EXERCISE OF WARRANTS FOR CASH During the years ended December 31, 2015 and December 31, 2014 there were no warrants exercised for cash. COMMON STOCK ISSUED ON THE CASHLESS EXERCISE OF WARRANTS On April 29, 2015, the Company sent a proposal to all warrant holders (as of September 30, 2014) to participate in a warrant exchange program whereby each warrant holder will be able to 1) exchange their warrants for common stock, on a cashless basis, at a reduced exercise price of $0.00005 per share, 2) if applicable, receive the right to 17.5% more warrants and a two year extension on all of their warrants in return for waiving their anti- dilution rights on a one- time basis for the exchange, or 3) elect to take advantage of (1) and (2) by (i) exchanging a portion of their Warrants that they so designate for shares of Common Stock in accordance with the applicable terms in (1) and (ii) the remainder of the Warrant not exchanged will be retained and amended pursuant to the applicable provisions of (2). As of April 29, 2015 there were 55,334,490 warrants outstanding that were eligible to participate in the proposal inclusive of 38,888,147 warrants associated with anti- dilution provisions resulting from the January 8, 2015 private placement. The results of this exchange were warrant holders elected to receive 52,110,896 shares of Common Stock under alternative (1), 318,750 additional warrants were issued under alternative (2) and a combination of 974,826 shares of Common Stock and 73,125 warrants were issued from elections made under alternative (3). The Company recorded a loss on exchange of warrants of $12,959,660 for the twelve months ended December 31, 2015. During the year ended December 31, 2014 the Company did not issue any shares of common stock on the cashless exercise of warrants. COMMON STOCK ISSUED ON THE EXERCISE OF STOCK OPTIONS FOR CASH During the years ended December 31, 2015 and December 31, 2014 there were no stock options exercised for cash. COMMON STOCK ISSUED ON THE CASHLESS EXERCISE OF STOCK OPTIONS During the years ended December 31, 2015 and December 31, 2014 the Company did not issue any shares of common stock on the cashless exercise of stock options.

COMMON STOCK

12 Months Ended

Dec. 31, 2015

NOTE 13 – COMMON STOCK

COMMON STOCK ISSUED TO DIRECTORS

On January 2, 2014 the Company issued 285,716 shares of common stock to the then four non-executive directors (71,429 shares each) Mark Hershhorn, Brian Israel, Morris Garfinkle and Edward B. 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 February 24, 2015 the Company issued 576,924 shares of common stock to its three non- executive directors at such time (192,308 shares each) to Brian Israel, Morris Garfinkle and Dan Jeffery. The Company recognized a total expense of $150,000 related to these issuances. These shares were valued based on the closing price on the grant date.

COMMON STOCK ISSUED FOR SERVICES

On March 1, 2015, the Company entered into a Business Development Agreement with Steeltown Consulting Group, LLC, pursuant to which Steeltown will assist in evaluating various business and financial matters. The Company issued 400,000 restricted shares of common stock as consideration for the services being rendered in this agreement. The common stock was valued at $104,000 based on the closing prices of the stock on the date the agreement was executed. This agreement is scheduled to terminate on March 1, 2016.

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

COMMON STOCK ISSUED ON THE EXERCISE OF WARRANTS FOR CASH

During the years ended December 31, 2015 and December 31, 2014 there were no warrants exercised for cash.

COMMON STOCK ISSUED ON THE CASHLESS EXERCISE OF WARRANTS

On April 29, 2015, the Company sent a proposal to all warrant holders (as of September 30, 2014) to participate in a warrant exchange program whereby each warrant holder will be able to 1) exchange their warrants for common stock, on a cashless basis, at a reduced exercise price of $0.00005 per share, 2) if applicable, receive the right to 17.5% more warrants and a two year extension on all of their warrants in return for waiving their anti- dilution rights on a one- time basis for the exchange, or 3) elect to take advantage of (1) and (2) by (i) exchanging a portion of their Warrants that they so designate for shares of Common Stock in accordance with the applicable terms in (1) and (ii) the remainder of the Warrant not exchanged will be retained and amended pursuant to the applicable provisions of (2). As of April 29, 2015 there were 55,334,490 warrants outstanding that were eligible to participate in the proposal inclusive of 38,888,147 warrants associated with anti- dilution provisions resulting from the January 8, 2015 private placement.

The results of this exchange were warrant holders elected to receive 52,110,896 shares of Common Stock under alternative (1), 318,750 additional warrants were issued under alternative (2) and a combination of 974,826 shares of Common Stock and 73,125 warrants were issued from elections made under alternative (3). The Company recorded a loss on exchange of warrants of $12,959,660 for the twelve months ended December 31, 2015.

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

COMMON STOCK ISSUED ON THE EXERCISE OF STOCK OPTIONS FOR CASH

During the years ended December 31, 2015 and December 31, 2014 there were no stock options exercised for cash.

COMMON STOCK ISSUED ON THE CASHLESS EXERCISE OF STOCK OPTIONS

During the years ended December 31, 2015 and December 31, 2014 the Company did not issue any shares of common stock on the cashless exercise of stock options.