SUBSEQUENT EVENTS

9 Months Ended

Sep. 30, 2014

Subsequent Events [Abstract]

Subsequent Events [Text Block]

23. SUBSEQUENT EVENTS

On October 31, 2014, Mr. Alexander F. Purdon, was issued 1,779,634 shares of restricted common stock in lieu of cash for $4,500 employee compensation for the month of October 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 September 30, 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 October 2, 2014, the lender converted $4,520 of its debenture to 2,260,000 shares.

On November 5, 2014, the lender converted $2,940 of its debenture to 2,261,538 shares.

On November 6, 2014, the lender converted $2,710 of its debenture to 2,258,333 shares.