7. INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2014

Income Taxes Tables

Schedule of deferred tax assets

Deferred tax asset resulting from:	December 31, 2014			December 31, 2013
Net Operating Loss	$	24,531,026		$	23,631,749
Research and development tax credits		1,778,030			1,228,997
Capitalized research and development costs		8,803,914			4,886,605
Subtotal		35,112,970			29,747,351
Less valuation allowance		(35,112,970	)		(29,747,351	)
Net deferred tax asset	$	0		$	0