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NOTE 6 - STOCKHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2014

Stockholders' Equity Note [Abstract]

Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]

A summary of the restricted stock issuances to directors, officers and employees is as follows:

		Number of Shares				Weighted Average Grant Date Fair Value
Unvested share balance, January 1, 2013			4,453,516			$	1.35
Granted			608,441				2.15
Vested			(88,309	)			1.40
Forfeited			(183,240	)			1.40
Unvested share balance, December 31, 2013			4,790,408			$	1.45
Granted			465,000				1.28
Vested			(54,975	)			1.40
Forfeited			-				-
Unvested share balance, March 31, 2014			5,200,433			$	1.43

Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]

The following table summarizes warrant activity during the period:

		Number of Warrants
Outstanding at January 1, 2014			-
Issued for services			197,194
Issued in connection with the 2014 Offerings			917,582
Outstanding at March 31, 2014			1,114,776
Exercisable at March 31, 2014			1,114,776

Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques [Table Text Block]

The following table summarizes weighted-average assumptions using the Black-Scholes option-pricing model used on the date of issuance for the warrants for the three months ended March 31, 2014:

		March 31, 2014
Volatility			174	%
Expected term (years)			5
Risk-free interest rate			1.53	%
Dividend yield			0	%

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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