Shareholders' Equity

12 Months Ended

Dec. 31, 2013

Stockholders Equity Note [Abstract]

SHAREHOLDERS' EQUITY

12.  SHAREHOLDERS’ EQUITY

Shares issued for convertible notes:

During the year ended December 31, 2012, convertible debt of $2,971,161 along with accrued interest of $216,330 were converted into 41,815,921 common shares. See Note 9.

Shares issued for services:

During the year ended December 31, 2013, the Company issued 6,100,690 shares of common stock to employees and directors as compensation. The shares were valued at the market price on the respective dates of issuance, and the fair value of the shares was determined to be $140,000.

During the year ended December 31, 2012, the Company issued 15,523,747 shares of common stock to employees and third party consultants as compensation. The shares were valued at the market price on the respective dates of issuance, and the fair value of the shares was determined to be $779,168. The Company cancelled 62,666 unvested shares valued at $627 in various stock bonus programs upon the voluntary termination of several former employees.

Shares issued in exchange for available-for-sale securities

During the year ended December 31, 2013, the Company issued 2,500,000 shares of restricted common stock to MEDL Mobile Holdings, Inc. in exchange for 147,692 shares of MEDL stock. The shares issued were valued at the fair market value of MEDL stock on the agreement date, which is $58,338. See Footnote 3.

Shares issued for cash

During the year ended December 31, 2012, the Company issued 2,500,000 shares of restricted common stock in a 2012 Private Stock Sale for $250,000 cash.