FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Disclosures [Abstract]

Schedule of Liabilities Measured at Fair Value on a Recurring Basis

Liabilities measured at fair value on a recurring basis are summarized as follows:

	March 31, 2017								December 31, 2016
	Level 1			Level 2	Level 3		Total		Level 1		Level 2		Level 3		Total
Embedded derivative liability related to beneficial conversion option	$	-	$	-	$	250,000	$	250,000	$	-	$	-	$	228,718	$	228,718
Derivative liability related to fair value of warrants		-		-		423,000		423,000		-		-		394,744		394,744
Total	$	-	$	-	$	673,000	$	673,000	$	-	$	-	$	623,462	$	623,462
				Total
Balance at December 31, 2016			$	623,462
Change in fair value of derivative liablities				49,538
Balance at March 31, 2017			$	673,000

Schedule of market based inputs used in valuation of embedded derivative liability

The Series C and Series D shares are convertible into shares of the Company’s Common Stock, which did trade in an active securities market, therefore the embedded derivative liability was valued using the following market based inputs:
 

	March 31, 2017
Closing trade price of Common Stock	$	0.12
Effective Series C Preferred Stock Conversion price		-
Effective Series D Preferred Stock Conversion price		-
Intrinsic value of conversion option per share	$	0.12

Schedule of Common Stock Purchase Warrants Valuation Assumptions

These warrants did not trade in an active securities market, and as such, the Company estimated the fair value of these warrants using the Black-Scholes option pricing model and the following assumptions:

	March 31, 2017
Annual Dividend Yield		0.0	%
Expected Life (Years)		1.3 - 2.6
Risk-Free Interest Rate		1.0% - 1.5	%
Expected Volatility		226.2% - 246.0	%