Income Taxes (Tables)

12 Months Ended

Dec. 31, 2013

Income Tax Disclosure [Abstract]

Schedule of Components of Income Tax Expense (Benefit)

Due to our substantial operating losses and the valuation allowance applied against our deferred tax assets, we have not recorded any income tax expense or benefit.

	December 31,		December 31,
	2013		2012
Current:
Federal	$	-	$	-
State		-		-
		-		-
Deferred:
Federal		-		-
State		-		-
		-		-
Provision for income tax, net	$	-	$	-

Schedule of Effective Income Tax Rate Reconciliation

Income taxes related to our loss from operations differ from the amount computed using the federal statutory income tax rate as follows:

	December 31,		December 31,
	2013		2012
Tax benefit computed at the federal statutory rate	$	(8,466,361)	$	(1,901,595)
State income tax (benefit), net of federal income tax effect		(1,209,480)		(271,656)
Nondeductible permanent differences		6,042,555		(468,568)
Change in valuation allowance		3,633,286		2,641,819
Provision for income taxes	$	-	$	-

Schedule of Deferred Tax Assets and Liabilities

As of December 31, 2013 and 2012, our deferred tax assets (liabilities) are as follows:

	December 31,		December 31,
	2013		2012
Deferred Tax Assets:
Non-cash interest expense	$	1,677,305	$	1,403,000
Share-based compensation		3,833,855		3,622,057
Other		254,740		254,740
Net operating loss carry forward		10,098,134		6,950,951
Less: Valuation allowance		(15,561,640)		(11,928,354)
		302,394		302,394
Deferred Tax Liabilities:
Property and equipment		(302,394)		(302,394)
Net deferred asset (liability)	$	-	$	-