SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2014

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

In April 2014, an aggregate of 2,500,001 warrants to purchase common stock were exercised in a cashless conversion for an aggregate of 2,000,001 shares of the Company’s common stock.

In April 10, 2014, the Company granted 500,000 shares of its common stock as a charitable donation to a not-for-profit organization valued at $65,000, ($0.13, per share), the price of the Company’s common stock on the day of grant.

On April 22, 2014, the Board of Directors approved an amendment to the Certificate of Designation for the Series B Convertible Preferred Stock to extend the date on which the Series B would automatically convert into such number of fully paid and non-assessable shares of Common Stock as will cause the holder to own, along with any other securities of the Company beneficially owned on the conversation date by them, 13.334% of the issued and outstanding Common Stock of the Company, from the date 12 months from the date of issuance of such Series B Shares to such date as determined by the Board of Directors.

On April 30, 2014 and May 2, 2014, an aggregate of 4,833,334 shares of the Series A Preferred Stock were converted to 4,833,334 shares of the Company’s common stock.

After giving effect to the foregoing transactions, the Company’s potential common stock equivalents are summarized as follows:

Common Stock Equivalent	Number Outstanding
Series A Preferred Convertible Stock	28,430,587
Series B Preferred Convertible Stock	112,229,168
Series C Preferred Convertible Stock	26,666,667
Warrants	31,883,920