SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

23. SUBSEQUENT EVENTS

On April 30, 2014, Mr. Alexander F. Purdon, was issued 184,202 shares of restricted common stock in lieu of cash for $4,500 employee compensation for the month of April 2014. The number of shares issued was based on the weighted average share price during the month.

Conversions of debentures to shares of common stock occurred subsequent to March 31, 2014. The stock was issued upon partial conversion of a convertible note without restrictive legend pursuant to Rule 144, as the holder acquired convertible note issued by the Company more than six months prior to the date of conversion and did not pay any additional consideration for the shares. Conversions were as follows (ref. number corresponds to lender reference number in Note 12. CONVERTIBLE DEBENTURES):

Ref (4) lender –

On April 30, 2014, the lender converted $1,920 of its debenture to 400,000 shares.

On April 24, 2014, the lender converted $2,080 of its debenture to 400,000 shares

On April 21, 2014, the lender converted $2,280 of its debenture to 400,000 shares.

On April 15, 2014, the lender converted $2,160 of its debenture to 400,000 shares.

On April 9, 2014, the lender converted $2,160 of its debenture to 400,000 shares.

In addition, related to convertible debenture agreement with the above lender, the Company is required to maintain adequate shares in escrow for potential conversions. As a result, the Company replenished its escrow of shares for future conversions by issuing an additional 52,500,000 on April 30, 2014.