BASIS OF PRESENTATION (Tables)

12 Months Ended

Dec. 31, 2014

BASIS OF PRESENTATION (Tables)

Presentation of the numerators and denominators used in the calculation of basic and diluted earnings per share

The following table is a presentation of the numerators and denominators used in the calculation of basic and diluted (loss) earnings per share:

	For the Year
	Ended December 31,
	2014			2013
Net loss	$	(26,047,375	)	$	(20,008,049	)
Basic weighted-average common shares outstanding		43,579,557			43,579,557
Effect of dilutive securities:
Warrants		-			-
Options		-			-
Diluted weighted-average common shares outstanding		43,579,557			43,579,557
Basic loss per share	$	(0.60	)	$	(0.46	)
Diluted loss per share	$	(0.60	)	$	(0.46	)