EQUITY (Tables)

6 Months Ended

Jun. 30, 2014

EQUITY [Abstract]

Schedule of Fair Value Assumptions

The assumptions utilized to determine the fair value of options granted during the six months ended June 30, 2014 and 2013, are as follows:

	2014			2013
Risk free interest rate		0.79	%		0.79	%
Expected volatility		105	%		105	%
Expected term	5 years			2-5 years
Expected dividend yield		0			0

Schedule of Stock Option Activity

The following tables set forth the activity in the Company's Plan for the six months ended June 30, 2014:

						Weighted
				Weighted		average
	Shares			average		remaining		Aggregate
	under			exercise		contractual		intrinsic
	option			price		life		value
Outstanding at January 1, 2014		50,000		$	1.50			$	-
Granted		2,475,871			0.21		-		-
Exercised		-			-		-		-
Forfeited/cancelled		(50,000	)		0.45		-		-
Outstanding at June 30, 2014		2,475,871			0.23		4.32	$	521,001
Exercisable at June 30, 2014		166,213		$	1.50		1.94	$	33,703

Schedule of Nonvested Share Activity

The following table summarizes the activity and value of non-vested options as of and for the six months ended June 30, 2014:

				Weighted
				average
	Number of			grant date
	options			fair value
Non-vested options outstanding at January 1, 2014		25,000		$	0.96
Granted		2,475,871			0.22
Vested		(141,213	)		0.96
Forfeited/cancelled		(50,000	)		0.34
Non-vested options outstanding at June 30, 2014		2,309,658		$	0.18