SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2015

Summary Of Significant Accounting Policies Tables

Fair value of financial instruments

Assets and liabilities measured at fair value on a recurring basis at June 30, 2015 are summarized below:

	June 30, 2015
	Level 1			Level 2			Level 3			Fair Value
Current Liabilities:
Derivative warrant liability		$	-		$	-		$	1,628,343		$	1,628,343

Assets and liabilities measured at fair value on a recurring basis at December 31, 2014 are summarized below:

	December 31, 2014
	Level 1		Level 2		Level 3		Fair Value
Current Assets:
Trading securities	$	39,930	$	-	$	-	$	39,930
Current Liabilities:
Derivative warrant liability	$	-	$	-	$	1,354,319	$	1,354,319

Fair value of Level 3 financial instruments

	Six Months Ended		Six Months Ended
	June 30, 2015		June 30, 2014
Fair value at beginning of period	$	1,354,319	$	2,549,196
Modification and reclassification of outstanding warrants		-		114,923
Change in fair value		274,024		625,165
Fair value at end of period	$	1,628,343	$	3,289,284