EQUITY (Tables)

9 Months Ended

Sep. 30, 2014

EQUITY [Abstract]

Schedule of Fair Value Assumptions

	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

The assumptions utilized to determine the fair value of options granted during the

Schedule of Stock Option Activity

The following tables set forth the activity in the Company's Plan for the nine months ended September 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		2,992,871			0.26			-		-
Exercised		(91,214)			-	*		-		-
Forfeited/cancelled		(223,000	)		0.32			-		-
Outstanding at September 30, 2014		2,718,657			0.29			4.20	$	647,666
Exercisable at September 30, 2014 *less than $0.01		401,617		$	0.67			3.67	$	59,339

Schedule of Nonvested Share Activity

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

				Weighted
				average
	Number of			grant date
	options			fair value
Non-vested options outstanding at January 1, 2014		25,000		$	0.96
Granted		2,992,871			0.17
Vested		(467,831	)		0.52
Forfeited/cancelled		(223,000	)		0.34
Non-vested options outstanding at September 30, 2014		2,317,040		$	0.09