DEBT (Tables)

12 Months Ended

Dec. 31, 2013

Debt Tables

Significant assumptions

Significant assumptions used in such valuations included:

Expected life	5 years
Estimated volatility	75.0%
Risk-free interest rate	0.07% - 0.10%
Expected dividends	None

A

Convertible notes payable

A summary of convertible notes payable, net as of December 31, 2013, is as follows:

	Amount
Outstanding, December 31, 2012	$	772,000
Notes issued		4,549,000
Notes repaid		(2,950,700	)
Notes converted to Common Stock		(1,690,300	)
Debt discount recorded		(1,332,543	)
Debt discount amortized		1,332,543
Outstanding December 31, 2013	$	680,000