OTHER CURRENT ASSETS

12 Months Ended

Dec. 31, 2013

Other Assets:

OTHER CURRENT ASSETS

NOTE 4 – OTHER CURRENT ASSETS

Other current assets consist of the following:

	December 31,
	2013		2012
Prepaid R&D costs	$	1,267,588	$	189,375
Prepaid consulting		530,596		432,216
Deferred financing costs		260,022		─
Other receivable – related party		249,981		─
Prepaid other		169,528		127,403
Prepaid guaranty costs		─		2,944
TOTAL OTHER CURRENT ASSETS	$	2,477,715	$	751,938