Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

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FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2015
Fair Value Measurements Tables  
Fair value hierarchy financial assets measured

The following table represents the fair value hierarchy for those financial assets measured at fair value on a recurring basis: 

 

    Fair Value at                    
    June 30,     Fair Value Measurement Using  
    2015     Level 1     Level 2     Level 3  
                         
Derivative liability - Conversion Feature   $ 1,414,500       -       -     $ 1,414,500  
    $ 1,414,500       -       -     $ 1,414,500  

 

    Fair Value at                    
    December 31,     Fair Value Measurement Using  
    2014     Level 1     Level 2     Level 3  
                         
Derivative liability - Conversion Feature   $ 1,253,000       -       -     $ 1,253,000  
    $ 1,253,000       -       -     $ 1,253,000  
Liabilities measured at fair value on a recurring basis using significant unobservable inputs

Liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3): 

 

Balance at December 31, 2014   $ 1,253,000  
Change in fair market value of Conversion Feature     (1,407,200 )
Issuance of equity instruments with debt greater than debt carrying amount     561,000  
Derivative debt converted into equity     (591,300 )
Issuance of equity instruments with derivatives     1,599,000  
Balance at June 30, 2015   $ 1,414,500