Fuel Performance Solutions (IFUE) Inactive 10-Q13 Aug 142014 Q2 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information	6 Months Ended
Document and Entity Information	Jun. 30, 2014	Aug. 14, 2014
Document And Entity Information	'	'
Entity Registrant Name	'FUEL PERFORMANCE SOLUTIONS, INC.	'
Entity Central Index Key	'0001078723	'
Document Type	'10-Q	'
Document Period End Date	30-Jun-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	202,675,382
Document Fiscal Period Focus	'Q2	'
Document Fiscal Year Focus	'2014	'

BALANCE_SHEETS_Unaudited

BALANCE SHEETS (Unaudited) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Current assets	'	'
Cash and cash equivalents	$443,338	$216,913
Accounts receivable	291,633	10,781
Inventory	19,286	33,784
Prepaid expenses and other assets	56,669	28,284
Total Current Assets	810,926	289,762
Goodwill	2,211,805	2,211,805
Total assets	3,022,731	2,501,567
Current liabilities	'	'
Accounts payable	576,368	350,984
Accrued compensation	766,193	742,465
Note payable to a related party	'	550,000
Deferred revenue	'	2,998,242
Derivative liability	302,000	'
Other accrued expenses	190,000	190,000
Other current liabilities	8,332	'
Total current liabilities	1,842,893	4,831,691
Deferred rent	11,476	12,573
Deferred income taxes	755,000	723,000
Total Long-term Liabilities	766,476	735,573
Total Liabilities	2,609,369	5,567,264
Stockholders' equity (deficit)	'	'
Common stock, $0.01 par value; 350,000,000 and 250,000,000 shares authorized; 202,675,382 and 158,280,604 (net of 1,440,000 shares held in treasury) shares issued and outstanding at June 30, 2014 and December 31, 2013, respectively	2,041,154	1,597,206
Treasury stock	-664,600	-664,600
Discount on common stock	-819,923	-819,923
Additional paid-in capital	71,638,135	67,949,067
Accumulated deficit	-71,781,404	-71,127,447
Total stockholders' equity (deficit)	413,362	-3,065,697
Total liabilities and stockholders' equity (deficit)	$3,022,731	$2,501,567

BALANCE_SHEETS_Parenthetical

BALANCE SHEETS (Parenthetical) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	350,000,000	250,000,000
Common stock, shares issued	202,675,382	158,280,604
Common stock, shares outstanding	202,675,382	158,280,604
Treasury stock, shares	1,440,000	1,440,000

STATEMENTS_OF_OPERATIONS_Unaud

STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		6 Months Ended
STATEMENTS OF OPERATIONS (Unaudited) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Income Statement [Abstract]	'	'	'	'
Net Revenues	$454,667	$111,532	$829,093	$324,826
Operating income (expenses):	'	'	'	'
Cost of operations	-335,589	-95,425	-632,540	-272,573
Selling, general and administrative expense	-2,248,713	-389,656	-3,127,425	-818,345
Gain on deferred revenue write off	'	'	2,998,242	'
Total operating income (expenses)	-2,584,302	-485,081	-761,723	-1,090,918
Net income (loss) from operations	-2,129,635	-373,549	67,370	-766,092
Interest income	115	41	173	62
Gain (loss) on derivative liability	155,000	'	-302,000	'
Loss on conversion of debt from a related party	'	'	-387,500	'
Net loss before income taxes	-1,974,520	-373,508	-621,957	-766,030
Income tax provision	16,000	16,000	32,000	32,000
Net loss	($1,990,520)	($389,508)	($653,957)	($798,030)
Basic and diluted net loss per common share	($0.01)	$0	$0	($0.01)
Weighted-average common shares outstanding, basic and diluted	201,484,299	129,617,839	190,057,196	128,315,394

STATEMENT_OF_STOCKHOLDERS_EQUI

STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIT) (Unaudited) (USD $)	Common Stock	Treasury Stock	Discount on Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning Balance at Dec. 31, 2013	$1,597,206	($664,600)	($819,923)	$67,949,067	($71,127,447)	($3,065,697)
Beginning Balance, Shares at Dec. 31, 2013	159,720,604	'	'	'	'	'
Issuance of stock for cash	318,948	'	'	508,776	'	827,724
Issuance of stock for cash, Shares	31,894,778	'	'	'	'	'
Issuance of stock for conversion of debt	125,000	'	'	812,500	'	937,500
Issuance of stock for conversion of debt, Shares	12,500,000	'	'	'	'	'
Expense relating to stock option grants	'	'	'	2,367,792	'	2,367,792
Net loss	'	'	'	'	-653,957	-653,957
Ending Balance at Jun. 30, 2014	$2,041,154	($664,600)	($819,923)	$71,638,135	($71,781,404)	$413,362
Ending Balance, Shares at Jun. 30, 2014	204,115,382	'	'	'	'	'

STATEMENTS_OF_CASH_FLOWS_Unaud

STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	6 Months Ended
STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	Jun. 30, 2014	Jun. 30, 2013
Cash flows from operating activities:	'	'
Net income (loss)	($653,957)	($798,030)
Adjustments to reconcile net income (loss) to net cash used in operating activities:	'	'
Non-cash stock-based compensation	'	16,875
Non-cash option expense	2,367,792	'
Gain on deferred revenue write off	-2,998,242	'
Loss on derivative liability	302,000	'
Loss on conversion of debt from a related party	387,500	'
Income tax provision	32,000	32,000
Change in assets and liabilities:	'	'
Accounts receivable	-280,852	85,043
Inventory	14,498	19,173
Prepaid expenses and other assets	-28,385	4,846
Accounts payable	225,384	59,681
Accrued compensation	23,728	96,598
Deferred rent	-1,097	-571
Net cash used in operating activities	-609,631	-484,385
Cash flows from financing activities:	'	'
Proceeds from issuance of note payable to related parties	'	250,000
Principal payments on debt due to related party	'	-100,000
Deposits received for stock purchase	8,332	'
Proceeds from issuance of common stock	827,724	350,000
Net cash provided by financing activities	836,056	500,000
Net increase (decrease) in cash and cash equivalents	226,425	15,615
Cash and cash equivalents, beginning	216,913	51,346
Cash and cash equivalents, ending	443,338	66,961
Cash paid during the period	'	'
Interest	'	'
Income taxes	'	'
Non-cash transactions:	'	'
Conversion of related party notes to common stock	$550,000	'

Basis_of_Presentation

Basis of Presentation	6 Months Ended
Basis of Presentation	Jun. 30, 2014
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Note 1 – Basis of Presentation

	The interim financial statements included herein have been prepared by Fuel Performance Solutions, Inc. (formerly known as International Fuel Technology, Inc.) (“FPS,” “we” or the “Company,”) without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles (“GAAP”) have been condensed or omitted pursuant to such rules and regulations, although we believe that the disclosures are adequate to make the information presented not misleading.

	These statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for fair presentation of the information contained therein. Interim results are not necessarily indicative of results for a full year. We suggest that these financial statements be read in conjunction with the financial statements and notes thereto included in the comprehensive annual report on Form 10-K for the years ended December 31, 2013 and 2012 and the quarterly periods ended March 31, 2013, June 30, 2013 and September 30, 2013, filed with the SEC on May 15, 2014. We follow the same accounting policies in preparation of interim reports as we do in our annual reports.

Substantial_Doubt_About_Abilit

Substantial Doubt About Ability to Continue as a Going Concern	6 Months Ended
	Jun. 30, 2014
Substantial Doubt About Ability To Continue As Going Concern	'
Substantial Doubt About Ability to Continue as a Going Concern	'
	Note 2 – Substantial Doubt About Ability to Continue as a Going Concern

	Our financial statements are presented on the going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. We have incurred significant losses since inception and currently have, and previously from time to time have had, limited funds with which to operate. These conditions raise substantial doubt as to the Company’s ability to continue as a going concern. Management is in the process of executing a strategy based upon marketing technologies that offer enhanced engine performance and greater fuel economy along with pollution control benefits. We have several technologies in the commercialization phase and in development. We have received necessary regulatory approvals for our products currently in the commercialization phase. We are selling our products directly to the commercial marketplace. We expect to increase our sales to the marketplace, eventually generating a level of revenues sufficient to meet our cash flow and earnings requirements. Until such time, we are dependent on external sources of capital to help fund the operations of the Company.

	We have been funded since inception primarily by unregistered sales of Company restricted stock, generally to existing shareholders. We believe we still have access to capital from existing shareholders and in addition, management is in the process of executing a plan that we believe will provide us with sufficient funds to allow us to operate through the end of the fourth quarter of 2014. However, we can make no assurances that additional capital will be available to us from either of these sources. Therefore, if we are unable to secure additional capital, we will need to curtail operations.

	The financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classification of liabilities that may result from the possible inability of FPS to continue as a going concern.

Significant_Accounting_Policie

Significant Accounting Policies

6 Months Ended

Jun. 30, 2014

Significant Accounting Policies

Note 3 – Significant Accounting Policies

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in our statements of operations. For stock-based derivative financial instruments, the Company uses a Black-Scholes option pricing model, assuming maximum value, in accordance with the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC”) ASC 815-15, “Derivatives and Hedging,” to value the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument liabilities are classified in our balance sheet as current or non-current based on whether or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date.

Fair Value of Financial Instruments

The Company measures its financial assets and liabilities in accordance with the requirements of ASC 820, “Fair Value Measurements and Disclosures.” ASC 820 clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows:

Level 1 - Quoted prices are available in active markets for identical assets or liabilities as of the reporting date. Active markets are those in which transactions for the asset or liability occur in sufficient frequency and volume to provide pricing information on an ongoing basis. Level 1 primarily consists of financial instruments such as exchange-traded derivatives, marketable securities and listed equities.

Level 2 - Pricing inputs are other than quoted prices in active markets included in level 1, which are either directly or indirectly observable as of the reported date and includes those financial instruments that are valued using models or other valuation methodologies. These models are primarily industry-standard models that consider various assumptions, including quoted forward prices for commodities, time value, volatility factors, and current market and contractual prices for the underlying instruments, as well as other relevant economic measures. Substantially all of these assumptions are observable in the marketplace throughout the full term of the instrument, can be derived from observable data or are supported by observable levels at which transactions are executed in the marketplace. Instruments in this category generally include non-exchange-traded derivatives such as commodity swaps, interest rate swaps, options and collars.

Level 3 - Pricing inputs include significant inputs that are generally less observable from objective sources. These inputs may be used with internally developed methodologies that result in management’s best estimate of fair value.

The following table sets forth by level within the fair value hierarchy the Company’s financial assets and liabilities that were accounted for at fair value as of June 30, 2014, and December 31, 2013:

Recurring Fair Value Measures

Level 1

Level 2

Level 3

Total

30-Jun-14

Derivative liability

302,000

31-Dec-13

Derivative liability

Stockholders_Equity_Deficit

Stockholders' Equity (Deficit)	6 Months Ended
Stockholders' Equity (Deficit)	Jun. 30, 2014
Equity [Abstract]	'
Stockholders' Equity (Deficit)	'
	Note 4 – Stockholders’ Equity (Deficit)

	On May 22, 2014, we filed a certificate of amendment to our Articles of Incorporation increasing the number of our authorized shares from 250,000,000 to 350,000,000 shares with the Nevada Secretary of State.

	Non-cash stock-based compensation expense recorded in the three and six months ended June 30, 2014 and June 30, 2013 is as follows:

			Three Months				Three Months			Six Months			Six Months
			Ended				Ended			Ended			Ended
			30-Jun-14				30-Jun-13			30-Jun-14			30-Jun-13

	Awards to employees		$	1,795,206			$	-		$	2,284,478		$	-
	Awards to non-employees			-				-			83,314			16,875
	Total non-cash stock-based compensation expense		$	1,795,206			$	-		$	2,367,792		$	16,875

	Employee and Director awards

	During the three months ended June 30, 2014, we issued 10,000,000 options to employees and 5,000,000 options to Directors for Director-related services.

	During the three months ended March 31, 2014, we issued 12,401,200 options to employees and 2,624,800 options to Directors for Director-related services. These option grants were issued in conjunction with the cancellation of 7,070,400 options that had previously been issued to employees and Directors.

	During the three months ended March 31, 2014, 20,000 options previously granted to an employee expired. These options had vested before expiration.

	The following tables summarize information about stock options issued to employees and Directors during the six months ended June 30, 2014:

			Shares				Weighted-			Weighted-			Intrinsic value
							average exercise			average exercise
							price			life

	Outstanding at December 31, 2013			9,489,120			$	0.41			1.06		$	-

	Granted			30,026,000			$	0.1			4.74
	Cancelled			(7,070,400	)		$	0.39			-
	Expired			(20,000	)		$	0.25			-
	Outstanding at June 30, 2014			32,424,720			$	0.13			4.44		$	1,397,736

	Options exercisable at June 30, 2014			29,195,386			$	0.13			4.4
	Options exercisable at December 31, 2013			9,489,120			$	0.41			1.06
	The following table provides the primary assumptions used to value employee and Director non-cash stock-based compensation for the six months ended June 30, 2014:

			For the Six Months
			Ended
			30-Jun-14

	Weighted-average fair value of options granted		$	0.09
	Weighted-average assumptions:
	Risk-free interest rate			0.65	%
	Dividend yield			-
	Expected volatility			1.09
	Expected option life (years)			2.58

	Non-employee awards

	During the three months ended June 30, 2014, we did not issue any options to non-employee consultants for services. No stock options were granted to non-employee consultants for services during the three months ended June 30, 2013.

	During the three months ended March 31, 2014, we issued 1,555,000 options to non-employee consultants for services. These option grants were issued in conjunction with the cancellation of 1,352,000 options that had previously been issued to a non-employee. No stock options were granted to non-employee consultants for services during the three months ended March 31, 2013.

	During the three months ended June 30, 2014, 1,015,600 options previously granted to non-employee consultants for services expired. 1,010,400 of these options had vested before expiration.

	During the three months ended March 31, 2014, 1,000,000 options previously granted to non-employee consultants for services expired. These options had vested before expiration.

	Services performed by non-employees who were granted options include product/distribution consulting and investor relations related services. The weighted-average fair value for such options that have had a fair value calculation applied ($0.05 for the six months ended June 30, 2014) was estimated at the date of grant using a Black-Scholes option pricing model. The following weighted-average assumptions were used for the first quarter of 2014 grants: risk-free interest rate of 1.08%, volatility factor of 1.03, and a weighted-average expected life of the option of approximately 3.68 years.

	The following table summarizes information about stock options issued to non-employees during the six months ended June 30, 2014:

		Shares				Weighted-			Weighted-			Intrinsic value
						average			average
						exercise price			exercise life

Outstanding at December 31, 2013			4,137,599			$	0.46			0.73		$	-

Granted			1,555,000			$	0.08			3.49
Cancelled			(1,352,000	)		$	0.48			-
Expired			(2,015,600	)		$	0.47			-
Outstanding at June 30, 2014			2,324,999			$	0.19			2.53		$	104,305

Options exercisable at June 30, 2014			2,324,999			$	0.19			2.53
Options exercisable at December 31, 2013			4,132,399			$	0.46			0.73

Sales of common stock

During the three months ended June 30, 2014, we received proceeds of $226,284 for the sale of 5,391,795 restricted shares of our common stock to a small group of accredited investors. We also received $8,332 in funds as deposits to be applied to the purchase of 83,316 restricted shares of common stock.

During the three months ended March 31, 2014, we received proceeds of $601,440 for the sale of 26,502,983 restricted shares of our common stock to a small group of accredited investors.

See Note 5 – Equity Commitment and Related Party Transactions for a description of other equity transactions FPS effected during the six months ended June 30, 2014.

Equity_Commitment_and_Related_

Equity Commitment and Related Party Transactions	6 Months Ended
Equity Commitment and Related Party Transactions	Jun. 30, 2014
Related Party Transactions [Abstract]	'
Equity Commitment and Related Party Transactions	'
	Note 5 – Equity Commitment and Related Party Transactions

	Effective December 11, 2007, we received an investment commitment from Rex Carr, a Director of FPS and a holder of over 5% of our common stock. Pursuant to the terms of the commitment, Mr. Carr has agreed to invest up to an aggregate of $1,000,000 in FPS, at such time or times as we may request, in the form of a purchase or purchases of restricted common stock of FPS. FPS may elect to draw from the commitment at one time or from time to time; provided, however, that the aggregate of such draws may not exceed $1,000,000. If and when we elect to utilize available commitment funds, we will issue to Mr. Carr that number of shares of restricted common stock of FPS equal to the value of the investment then provided to FPS. The number of shares to be issued will be calculated based on the closing price of our common stock as quoted on OTC Market Group’s OTC Pink marketplace on the date of the sale. There is no stipulation regarding the duration of this commitment. As of June 30, 2014, $500,000 remains available under this equity commitment.

	As of December 31, 2013, the Company owed $500,000 to Mr. Carr. The terms of the loans associated with this cumulative loan balance did not require the payment of interest and did not require repayment of the principal by a certain date. On February 6, 2014, FPS issued 10,000,000 restricted shares of Company common stock in exchange for the cancellation of this note payable from a related party in the aggregate (face amount) of $500,000. This conversion of notes payable from a related party to restricted shares of the Company’s common stock was treated separately from the equity commitment in place with Mr. Carr.

	On February 4, 2013, David B. Norris, a Director of FPS, loaned us $50,000. The terms of this loan did not require the payment of interest and did not require repayment of the principal by a certain date. This loan was converted to 2,500,000 shares of the Company’s common stock on February 6, 2014.

	In conjunction with the conversion of Mr. Carr’s and Mr. Norris’ notes payable from a related party to equity, FPS recorded a $387,500 loss on the conversion of related party notes to our income statement during the six months ended June 30, 2014.

Blencathia_Merger

Blencathia Merger	6 Months Ended
Blencathia Merger	Jun. 30, 2014
Business Combinations [Abstract]	'
Blencathia Merger	'
	Note 6 – Blencathia Merger

	Effective October 27, 1999, we merged with Blencathia Acquisition Corporation (“Blencathia”). Blencathia was a public shell company with immaterial assets and liabilities and 312,000 shares outstanding at the time of the merger, which it redeemed and cancelled upon the merger. In exchange, we issued 312,000 of our common shares to the prior Blencathia owner with the contractual understanding that such shares were to be sold by that owner to achieve gross cash proceeds of $500,000. Any excess proceeds were to be returned to us and any deficiency was to be made up by us issuing additional shares or paying the difference in cash. As we believed that we controlled the ultimate timing of the sale of these 312,000 shares by the prior Blencathia owner, we did not consider these shares as issued or outstanding for purposes of computing earnings per share prior to 2006.

	In 2006, we learned that the prior Blencathia owner had, in fact, sold the 312,000 shares for aggregate proceeds of approximately $150,000, without our consent. Accordingly, in the fourth quarter of 2006, we recorded $500,000 of general expenses (representing the cost of the 1999 merger) and the deemed issuance of approximately $150,000 of common stock. The remaining $350,000 obligation was reflected as a current accrued expense. Beginning in 2006, the 312,000 shares have been reflected as outstanding for earnings per share computations. During 2009 and 2010, we made payments totaling $160,000 to the prior Blencathia owner. We have not made any payments to the prior Blencathia owner since 2010. The related current accrued expense balance remains at $190,000 at June 30, 2014. We are in negotiations with the prior Blencathia owner to resolve this obligation and may ultimately settle the obligation with either cash or equity securities with a lower market value.

Derivative_Liability

Derivative Liability	6 Months Ended
Derivative Liability	Jun. 30, 2014
Fair Value Disclosures [Abstract]	'
Derivative Liability	'
	Note 7 – Derivative Liability

	During 2009, we granted a warrant to purchase 2,000,000 shares of the Company’s common stock to an accredited investor in conjunction with equity raise efforts. On April 12, 2013, the Company’s Board of Directors authorized and approved the extension of the expiration date and a change of exercise price for this warrant. The outstanding share purchase warrant originally had a March 23, 2014 expiration date and an exercise price of $0.25. The new modified terms extended the warrant expiration date to April 11, 2018 and reduced the exercise price to $0.226. The exercise price is also subject to dilutive adjustments for share issuances (full ratchet reset features).

	Because this warrant has full reset adjustments tied to future issuances of equity securities by the Company, it is subject to derivative liability treatment under ASC 815-40-15, “Determining Whether an Instrument (or Embedded Feature) is Indexed to an Entity’s Own Stock.” ASC 815-40-15 requires as of the date the warrant is issued, the derivative liability to be measured at fair value and re-evaluated at the end of each reporting period.

	As of December 31, 2013, we determined the fair value of the warrant’s derivative liability to be nominal. As of June 30, 2014, the fair value of the warrant’s derivative liability is $302,000 and the Company recognized a loss on derivative liability of $302,000 for the six months ended June 30, 2014.

Deferred_Revenue

Deferred Revenue	6 Months Ended
Deferred Revenue	Jun. 30, 2014
Revenue Recognition [Abstract]	'
Deferred Revenue	'
	Note 8 – Deferred Revenue

	On February 26, 2009, we received the first purchase order pursuant to a Memorandum of Understanding (“MOU”) with Libya Oil Holdings Limited, Tamoil, Libya Africa Investment Portfolio and Vision Oil Services Ltd (“VOS”). Pursuant to the MOU, VOS paid for the purchase of 600 metric tons of DiesoLiFT^TM 10 at a price of 6,000 Euros (approximately $7,600) per metric ton from FPS. We received cash proceeds of approximately $3 million from VOS in February 2009. No such revenues had been recorded to date relating to this order because there has been no requested delivery of the product. We have had no communication with VOS in nearly five years and believe they have ceased all activities on behalf of FPS.

	Based upon a written legal opinion received during the first quarter of 2014, it was determined that effective February 2014, we were no longer obligated to present the nearly $3 million deferred revenue liability on our balance sheet as the statute of limitations period for our performance obligation has passed. In conjunction with this determination, we recorded a gain on deferred revenue liability write-off of approximately $3 million during the six months ended June 30, 2014.

Legal_Proceedings

Legal Proceedings	6 Months Ended
Legal Proceedings	Jun. 30, 2014
Legal Proceedings	'
Legal Proceedings	'
	Note 9 – Legal Proceedings

	We are subject to various lawsuits and claims with respect to matters arising out of the normal course of business. While the impact on future financial results is not subject to reasonable estimation because considerable uncertainty exists, management believes, after consulting with counsel, that it is more likely than not that the ultimate liabilities resulting from such lawsuits and claims will not materially affect our financial position, results of operations or liquidity.

	On July 31, 2006, we received notice from the American Arbitration Association (“AAA”) of a Demand for Arbitration dated July 27, 2006 received by the AAA naming FPS as Respondent and TPG Capital Partners (“TPG”), the prior Blencathia owner, as the Claimant. The arbitration had been requested by TPG to resolve an alleged aggregate proceeds shortfall from the sale of FPS securities issued in the Blencathia merger. TPG has claimed it sold some or all of the 312,000 shares and the sales have not generated at least $500,000 of proceeds, as guaranteed in the merger documents.

	In an effort to resolve this matter prior to submission to binding arbitration, both TPG and FPS participated in a non-binding mediation conference on January 30, 2007, which did not resolve the matter. Informal discussions are ongoing. It is not expected that the ultimate settlement of this matter, considering we have recorded a liability for the shortfall amount, will have an additional adverse material effect on FPS.

Significant_Accounting_Policie1

Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2014

Significant Accounting Policies Policies

Derivative Financial Instruments

Fair Value of Financial Instruments

Recurring Fair Value Measures

Level 1

Level 2

Level 3

Total

30-Jun-14

Derivative liability

302,000

31-Dec-13

Derivative liability

Significant_Accounting_Policie2

Significant Accounting Policies (Tables)	6 Months Ended
Significant Accounting Policies (Tables)	Jun. 30, 2014
Significant Accounting Policies Tables	'
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	'
	Recurring Fair Value Measures	Level 1		Level 2		Level 3		Total
	30-Jun-14
	Derivative liability	$	-	$	-	$	302,000	$	302,000
	31-Dec-13
	Derivative liability	$	-	$	-	$	-	$	-

Stockholders_Equity_Deficit_Ta

Stockholders' Equity (Deficit) (Tables)	6 Months Ended
Stockholders' Equity (Deficit) (Tables)	Jun. 30, 2014
Stockholders Equity Deficit Tables	'
Schedule of Stock Option Recorded	'
		Three Months			Three Months		Six Months		Six Months
		Ended			Ended		Ended		Ended
		30-Jun-14			30-Jun-13		30-Jun-14		30-Jun-13

	Awards to employees	$	1,795,206		$	-	$	2,284,478	$	-
	Awards to non-employees		-			-		83,314		16,875
	Total non-cash stock-based compensation expense	$	1,795,206		$	-	$	2,367,792	$	16,875
Schedule of Stock Option Issued to Employees and Directors	'
		Shares			Weighted-		Weighted-		Intrinsic value
					average exercise		average exercise
					price		life

	Outstanding at December 31, 2013		9,489,120		$	0.41		1.06	$	-

	Granted		30,026,000		$	0.1		4.74
	Cancelled		(7,070,400	)	$	0.39		-
	Expired		(20,000	)	$	0.25		-
	Outstanding at June 30, 2014		32,424,720		$	0.13		4.44	$	1,397,736

	Options exercisable at June 30, 2014		29,195,386		$	0.13		4.4
	Options exercisable at December 31, 2013		9,489,120		$	0.41		1.06
Schedule of primary assumptions used to value employee and Director non-cash stock-based compensation	'
		For the Six Months
		Ended
		30-Jun-14

	Weighted-average fair value of options granted	$	0.09
	Weighted-average assumptions:
	Risk-free interest rate		0.65	%
	Dividend yield		-
	Expected volatility		1.09
	Expected option life (years)		2.58
Schedule of Stock Option Issued to non employees	'
		Shares			Weighted-		Weighted-		Intrinsic value
					average		average
					exercise price		exercise life

	Outstanding at December 31, 2013		4,137,599		$	0.46		0.73	$	-

	Granted		1,555,000		$	0.08		3.49
	Cancelled		(1,352,000	)	$	0.48		-
	Expired		(2,015,600	)	$	0.47		-
	Outstanding at June 30, 2014		2,324,999		$	0.19		2.53	$	104,305

	Options exercisable at June 30, 2014		2,324,999		$	0.19		2.53
	Options exercisable at December 31, 2013		4,132,399		$	0.46		0.73

Significant_Accounting_Policie3

Significant Accounting Policies (Details) (USD $)	Jun. 30, 2014	Dec. 31, 2013
Derivative liability	$302,000	'
Fair Value, Measurements, Recurring \| Fair Value, Inputs, Level 3	'	'
Derivative liability	$302,000	'

Stockholders_Equity_Deficit_De

Stockholders' Equity (Deficit) (Details) (USD $)	3 Months Ended		6 Months Ended
Stockholders' Equity (Deficit) (Details) (USD $)	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Total non-cash stock-based compensation expense	$1,795,206	'	$2,367,792	$16,875
Employee Stock Option	'	'	'	'
Total non-cash stock-based compensation expense	1,795,206	'	2,284,478	'
Non-Employee Stock Option	'	'	'	'
Total non-cash stock-based compensation expense	'	'	$83,314	$16,875

Stockholders_Equity_Deficit_De1

Stockholders' Equity (Deficit) (Details 2) (USD $)

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

3 Months Ended

6 Months Ended

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Dec. 31, 2013

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2014

Mar. 31, 2014

Jun. 30, 2013

Jun. 30, 2014

Dec. 31, 2013

Employee Stock Option

Director

Employee

Non-Employee Stock Option

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]

Outstanding at beginning of period

9,489,120

4,137,599

Granted

30,026,000

2,624,800

12,401,200

1,555,000

Cancelled

-7,070,400

-1,352,000

Expired

-20,000

-1,000,000

-1,015,600

-2,015,600

Options Outstanding at end of period

32,424,720

2,324,999

Exercisable at end of period

29,195,386

9,489,120

2,324,999

4,137,599

Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]

Weighted average exercise price outstanding at beginning of period

$0.41

$0.46

Granted

$0.10

$0.08

Cancelled

$0.39

$0.48

Expired

$0.25

$0.47

Weighted average exercise price outstanding at end of period

$0.13

$0.19

Weighted average exercise price of options exercisable at end of period

$0.13

$0.41

$0.19

$0.46

Weighted Average Remaining Contractual Term [RollForward]

Outstanding at beginning of period

'1 year 0 months 22 days

'0 years 8 months 23 days

Granted

'4 years 8 months 26 days

'3 years 5 months 26 days

Outstanding at end of period

'4 years 5 months 8 days

'2 years 6 months 11 days

Exercisable at end of period

'4 years 4 months 24 days

'2 years 6 months 11 days

Aggregate Intrinsic Value [RollForward]

Exercisable at end of period

$1,397,736

$104,305

Options Issued

10,000,000

12,401,200

5,000,000

2,624,800

1,555,000

Options Vested

1,010,400

Stockholders_Equity_Deficit_De2

Stockholders' Equity (Deficit) (Details 3) (USD $)	6 Months Ended
Stockholders' Equity (Deficit) (Details 3) (USD $)	Jun. 30, 2014
Employee Stock Option	'
Weighted-average fair value of options granted	$0.09
Weighted-average assumptions:	'
Risk-free interest rate	0.65%
Dividend yield	'
Expected volatility	109.00%
Expected option life	'2 years 6 months 29 days
Non-Employee Stock Option	'
Weighted-average fair value of options granted	$0.05
Weighted-average assumptions:	'
Risk-free interest rate	1.08%
Dividend yield	'
Expected volatility	103.00%
Expected option life	'3 years 8 months 5 days

Equity_Commitment_and_Related_1

Equity Commitment and Related Party Transactions (Details Narrative) (USD $)	0 Months Ended		0 Months Ended
	Feb. 06, 2014	Feb. 04, 2013	Feb. 06, 2014	Dec. 31, 2013
	David B. Norris, Director	David B. Norris, Director	Rex Carr, Director	Rex Carr, Director
Due to Directors	'	$50,000	'	$500,000
Common Stock issued upon conversion of notes payable	2,500,000	'	10,000,000	'

Blencathia_Merger_Details_Narr

Blencathia Merger (Details Narrative) (USD $)	2 Months Ended	3 Months Ended	24 Months Ended
Blencathia Merger (Details Narrative) (USD $)	Dec. 31, 1999	Dec. 31, 2006	Dec. 31, 2010	Jun. 30, 2014	Dec. 31, 2013	Sep. 30, 2012	Oct. 27, 1999
Blencathia Merger Details Narrative	'	'	'	'	'	'	'
Shares issued for merger	312,000	'	'	'	'	'	'
Gross cash proceeds	'	'	'	'	'	'	$500,000
General expenses, cost of 1999 merger	'	500,000	'	'	'	'	'
Issuance of common stock, merger	'	150,000	'	'	'	'	'
Accrued expense, current obligation of merger	'	350,000	'	'	'	190,000	'
Number of Shares Issued Merger, Basic	'	312,000	'	'	'	'	'
Payments to prior Blencathia owner	'	'	160,000	'	'	'	'
Other accrued expenses	'	'	'	$190,000	$190,000	'	'

Derivative_Liability_Details_N

Derivative Liability (Details Narrative) (USD $)	12 Months Ended
Derivative Liability (Details Narrative) (USD $)	Dec. 31, 2009	Apr. 11, 2018	Mar. 23, 2014
Derivative Liability Details Narrative	'	'	'
Warrants Granted to an accredited investor in conjunction with equity raise efforts	$2,000,000	'	'
Exercise Price of Warrants	'	$0.23	$0.25

Deferred_Revenue_Details_Narra

Deferred Revenue (Details Narrative) (USD $)	1 Months Ended	3 Months Ended		6 Months Ended
	Feb. 28, 2009	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
	Mg	Jun. 30, 2014	Jun. 30, 2013	Jun. 30, 2014	Jun. 30, 2013
Deferred Revenue Details Narrative	'	'	'	'	'
Deferred revenue description	'	'	'	'	'

	We received the first purchase order pursuant to a Memorandum of Understanding (“MOU”) with Libya Oil Holdings Limited, Tamoil, Libya Africa Investment Portfolio and Vision Oil Services Ltd (“VOS”). Pursuant to the MOU, VOS paid for the purchase of 600 metric tons of DiesoLiFT^TM 10 at a price of 6,000 Euros (approximately $7,600) per metric ton from FPS. We received cash proceeds of approximately $3 million from VOS in February 2009. No such revenues had been recorded to date relating to this order because there has been no requested delivery of the product. We have had no communication with VOS in nearly 5 years and believe they have ceased all activities on behalf of FPS.
Purchased amount of DiesoLiFT10, metric tons	600	'	'	'	'
Purchased amount of DiesoLiFT10, per metric tons	7,600	'	'	'	'
Cash proceeds received from VOS, net of related selling expenses	$3,000,000	'	'	'	'
Gain on deferred revenue write off	'	'	'	$2,998,242	'

Legal_Proceedings_Details_Narr

Legal Proceedings (Details Narrative)	6 Months Ended
Legal Proceedings (Details Narrative)	Jun. 30, 2014
Legal Proceedings Details Narrative	'
Period of occurrence	'

	On July 31, 2006, we received notice from the American Arbitration Association (“AAA”) of a Demand for Arbitration dated July 27, 2006 received by the AAA naming FPS as Respondent and TPG Capital Partners (“TPG”), the prior Blencathia owner, as the Claimant. The arbitration had been requested by TPG to resolve an alleged aggregate proceeds shortfall from the sale of FPS securities issued in the Blencathia merger. TPG has claimed it sold some or all of the 312,000 shares and the sales have not generated at least $500,000 of proceeds, as guaranteed in the merger documents.
Allegations	'

	An alleged aggregate proceeds shortfall from the sale of FPS securities issued in the Blencathia merger. TPG has claimed it sold some or all of the 312,000 shares and the sales have not generated at least $500,000 of proceeds, as guaranteed in the merger documents.