DERIVATIVE LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2016

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 March 31, 2016 and December 31, 2015:

Components of derivative financial instruments
	3/31/2016			12/31/2015
Common stock warrants	$	540,063		$	130,028
Embedded conversion features for convertible debt or preferred shares		111,892			612,805
Total	$	651,955		$	742,833
Beginning balance	$	742,833		$	20,166
Change in derivative liability valuation		(102,776	)		1,265,611
Change in derivative liability - warrant issuance		11,898			(542,944	)
Total	$	651,955		$	742,833