Quarterly report pursuant to Section 13 or 15(d)

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2016
Accounting Policies [Abstract]  
Estimated useful life of property and equipment
  Years
Office furniture and fixtures 4
Computer equipment   4
Appliques 10
Website development 4
Reconciliation of the derivative liability measured at fair value
    Conversion Feature Derivative Liability  

 

 

Warrant Liability

  

 

 

 

Total
Balance at January 1, 2016   $ 614,036       4,355       618,391  
Change in fair value included in earnings     (464,066 )     (439 )     (464,505 )
Net effect on additional paid in capital     (44,558 )     —         (44,558 )
Balance March 31, 2016   $ 105,412     $ 3,916     $ 109,328  
Dilutive securities

 

The following are dilutive common stock equivalents during the periods ended, the Company used the if-converted method for calculating the dilutive common stock equivalents:

 

   

March 31,

2016

  

March 31,

2015
Convertible preferred stock     211,426,518       202,887,750  
Stock options     2,850,000       2,150,000  
Stock warrants     5,000       158,332  
Convertible notes payable     529,376       —    
  Total     214,810,894       205,196,082