NOTE 6 - DERIVATIVES (Tables)

3 Months Ended

Mar. 31, 2015

Note 6 - Derivatives Tables

Fair value of this derivative liability

The fair value of the embedded conversion option was determined using Monte Carlo simulations and the following assumptions:

	Issuance Date			December 31, 2014			March 31, 2015
Expected Volatility		41.50	%		44.10	%		41.40	%
Expected Term	3.00 Years			2.85 Years			2.60 Years
Risk-Free Interest Rate		0.51	%		1.02	%		0.89	%
Dividend Rate		—	%		—	%		—	%

Change in fair value

Unrealized gains and losses associated with liabilities within the Level 3 category include changes in fair value that were attributable to both observable (e.g., changes in market interest rates) and unobservable (e.g., changes in unobservable long-dated volatilities) inputs.

	Derivative
	Liability
Balance at December 31, 2014	$	65,422
Change in fair value		637
Balance at March 31, 2015	$	66,059