Marker Therapeutics (MRKR) 10-Q 15 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	15-May-15
Document And Entity Information
Entity Registrant Name	TAPIMMUNE INC
Entity Central Index Key	1094038
Document Type	10-Q
Document Period End Date	31-Mar-15
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
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		32,638,811
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2015

Balance_Sheets

Balance Sheets (USD $)	Mar. 31, 2015	Dec. 31, 2014
Current Assets
Cash	$1,453,505	$141,944
Prepaid expenses and deposits	82,504	82,504
Total Assets	1,536,009	224,448
Current Liabilities
Accounts payable and accrued liabilities	703,323	693,362
Research agreement obligations	492,365	492,365
Derivative liability – warrants	2,052,975	9,415
Promissory notes	52,942	52,942
Total Current Liabilities	3,301,605	1,248,084
Stockholders’ Deficit
Convertible preferred stock, $0.001 par value - 10,000,000 shares authorized:
Common stock, $0.001 par value, 500,000,000 shares authorized 32,638,811 shares issued and outstanding (2014 – 20,318,815)	32,639	20,319
Additional paid-in capital	85,493,220	85,265,776
Deficit accumulated during the development stage	-87,291,455	-86,309,731
Total Stockholders’ Deficit	-1,765,596	-1,023,636
Total LIABILITIES AND STOCKHOLDERS’ DEFICIT	1,536,009	224,448
Series A
Stockholders’ Deficit
Convertible preferred stock, $0.001 par value - 10,000,000 shares authorized:
Series B
Stockholders’ Deficit
Convertible preferred stock, $0.001 par value - 10,000,000 shares authorized:

Balance_Sheets_Parenthetical

Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Common stock par value	$0.00	$0.00
Common stock shares authorized	500,000,000
Common stock shares issued	32,638,811	20,318,815
Common stock shares outstanding	32,638,811	20,318,815
Convertible preferred stock	10,000,000	10,000,000
Preferred stock par value	$0.00
Series A
Preferred stock par value	$0.00	$0.00
Preferred stock shares designated	1,250,000	1,250,000
Preferred stock issued	0	0
Preferred stock outstanding	0	0
Series B
Preferred stock par value	$0.00	$0.00
Preferred stock shares designated	1,500,000	1,500,000
Preferred stock issued	0	0
Preferred stock outstanding	0	0

Statements_of_Operations

Statements of Operations (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Operating expenses:
General and administrative	$418,786	$1,164,098
Research and development	609,378	22,500
Loss from Operations	-1,028,164	-1,186,598
Other Income (Expense)
Changes in fair value of derivative liabilities	46,440	-338,297
Accretion of discount on convertible notes		-483,636
Interest and financing charges		-35,269
Loss on extinguishment of debt		-27,663,430
Net Loss for the Period	-981,724	-29,707,230
Other comprehensive income
Foreign exchange translation adjustment		-1,249
TOTAl COMPREHENSIVE LOSS	($981,724)	($29,708,479)
BASIC AND DILUTED NET LOSS PER SHARE	($0.04)	($3.89)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED	27,611,255	7,631,669

CONDENSED_CONSOLIDATED_STATEME

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (DEFICIT) (Unaudited) (USD $)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated other Comprehensive Income / Loss	Total
Balance Amount at Dec. 31, 2014	$20,319	$85,265,776	($86,309,731)		($1,023,636)
Balance, Shares at Dec. 31, 2014	20,318,816
Private placement (net of finders’ fee of $140,000), Shares	12,319,995
Private placement (net of finders’ fee of $140,000), Amount	12,320	2,313,694			2,326,014
Fair value of warrants recognized as derivative liabilities		-2,090,000			-2,090,000
Stock- based compensation		3,750			3,750
Net loss			-981,724		-981,724
Balance Amount at Mar. 31, 2015	$32,639	$85,493,220	($87,291,455)		($1,765,596)
Balance, Shares at Mar. 31, 2015	32,638,811

CONDENSED_CONSOLIDATED_STATEME1

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS’ EQUITY (DEFICIT) (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2015
Statement of Stockholders' Equity [Abstract]
Finders fee	$140,000

Statements_of_Cash_Flows

Statements of Cash Flows (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	($981,724)	($29,707,230)
Adjustments to reconcile net loss to net cash from operating activities:
Changes in fair value of derivative liabilities	-46,440	338,297
Loss on extinguishment of debt		27,663,430
Non-cash interest and finance charges		483,636
Stock based compensation	3,750	690,000
Changes in operating assets and liabilities:
Accounts payable and accrued liabilities	9,961	158,913
NET CASH USED IN OPERATING ACTIVITIES	-1,014,453	-372,954
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of shares, net of issuance costs of $140,000	2,326,014
Convertible note issuance		418,000
NET CASH PROVIDED BY FINANCING ACTIVITIES	2,326,014	418,000
INCREASE (DECREASE) IN CASH	1,311,561	45,046
CASH, BEGINNING OF YEAR	141,944	48,589
CASH, END OF YEAR	1,453,505	93,635
SUPPLEMENTAL SCHEDULE OF NON-CASH ACTIVITIES
Accounts payable settled in common stock		513,000
Accrued interest		476,000
Convertible notes payable		3,293,000
Loans payable, related party		42,000
Promissory notes, related party		210,000
Due to related parties		369,000
Fair value derivative liability – conversion option at conversion		$708,000

Statements_of_Cash_Flows_Paren

Statements of Cash Flows (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2015
Statement of Cash Flows [Abstract]
Issuance costs	$140,000

NATURE_OF_OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	Note 1: Nature of Operations
	TapImmune Inc. (the “Company”), a Nevada corporation incorporated in 1992, is a biotechnology Company focusing on immunotherapy specializing in the development of innovative peptide and gene-based immunotherapeutics and vaccines for the treatment of oncology and infectious disease. Unlike other vaccine technologies that narrowly address the initiation of an immune response, TapImmune's approach broadly stimulates the cellular immune system by enhancing the function of killer T-cells and T-helper cells and by restoring antigen presentation in tumor cells allowing their recognition and killing by the immune system.

BASIS_OF_PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	NOTE 2: Basis of Presentation
	The accompanying unaudited condensed financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and pursuant to the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities and Exchange Commission (“SEC”) and on the same basis as the Company prepares its annual audited consolidated financial statements. The condensed consolidated balance sheet as of March 31, 2015, condensed consolidated statements of interim financials include all adjustments, consisting only of normal recurring adjustments, which the Company considers necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.
	The results for the statement of operations are not necessarily indicative of results to be expected for the year ending December 31, 2015 or for any future interim period. The condensed balance sheet at December 31, 2014 has been derived from audited financial statements; however, it does not include all of the information and notes required by U.S. GAAP for complete financial statements. The accompanying condensed financial statements should be read in conjunction with the consolidated financial statements for the year ended December 31, 2014, and notes thereto included in the Company’s annual report on Form 10-K.

LIQUIDITY_AND_FINANCIAL_CONDIT

LIQUIDITY AND FINANCIAL CONDITION	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
LIQUIDITY AND FINANCIAL CONDITION	NOTE 3: LIQUIDITY AND FINANCIAL CONDITION
	The Company’s activities since inception have consisted principally of acquiring product and technology rights, raising capital, and performing research and development. Successful completion of the Company’s development programs and, ultimately, the attainment of profitable operations are dependent on future events, including, among other things, its ability to access potential markets; secure financing, develop a customer base; attract, retain and motivate qualified personnel; and develop strategic alliances. From inception, the Company has been funded by a combination of equity and debt financings.
	The Company expects to continue to incur substantial losses over the next several years during its development phase. To fully execute its business plan, the Company will need to complete certain research and development activities and clinical studies. Further, the Company’s product candidates will require regulatory approval prior to commercialization. These activities may span many years and require substantial expenditures to complete and may ultimately be unsuccessful. Any delays in completing these activities could adversely impact the Company. The Company plans to meet its capital requirements primarily through issuances of debt and equity securities and, in the longer term, revenue from product sales.
	As of March 31, 2015, the Company had cash and cash equivalents of approximately $1,454,000. Historically, the Company has net losses and negative cash flows from operations. The Company believes its current capital resources are not sufficient to support its operations. Management intends to continue its research efforts and to finance operations of the Company through debt and/or equity financings. Management plans to seek additional debt and/or equity financing through private or public offerings or through a business combination or strategic partnership. There can be no assurance that the Company will be successful in obtaining additional financing on favorable terms, or at all. These matters raise substantial doubt about the Company’s ability to continue as a going concern. The financial statements do not include any adjustments that might result from the outcome of these uncertainties.

SIGNIFICANT_ACCOUNTING_POLICIE

SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Note 4: SIGNIFICANT ACCOUNTING POLICIES
	There have been no material changes in the Company’s significant accounting policies to those previously disclosed in the Company’s annual report on Form 10-K, which was filed with the SEC on April 15, 2015.
	Prior Period Reclassifications
	Certain prior period amounts that were combined in the March 31, 2014 consolidated financial statements have been reclassified for comparability with the March 31, 2015 presentation. These reclassifications had no effect on previously reported net loss.

POTENTIALLY_DILUTIVE_SECURITIE

POTENTIALLY DILUTIVE SECURITIES	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
POTENTIALLY DILUTIVE SECURITIES	Note 5: pOTENTIALLY DILUTIVE SECURITIES
	Options, warrants, and convertible debt outstanding were all considered anti-dilutive for the three months ended March 31, 2015 and 2014, due to net losses.
	The following securities were not included in the diluted net loss per share calculation because their effect was anti-dilutive as of the periods presented:
		March 31,
		2015		2014
	Common stock options		65,000		65,000
	Common stock warrants - equity treatment		52,229,000		193,000
	Common stock warrants - liability treatment		12,514,000		57,000
	Convertible notes		-		15,000
	Potentially dilutive securities		64,808,000		330,000

DERIVATIVE_LIABILITY_WARRANTS_

DERIVATIVE LIABILITY - WARRANTS AND DERIVATIVE LIABILITY b CONVERSION OPTION	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
DERIVATIVE LIABILITY - WARRANTS AND DERIVATIVE LIABILITY b CONVERSION OPTION	Note 6: DERIVATIVE LIABILITY - WARRANTs AND DERIVATIVE LIABILITY – CONVERSION OPTION
	A summary of quantitative information with respect to valuation methodology and significant unobservable inputs used for the Company’s common stock purchase warrants that are categorized within Level 3 of the fair value hierarchy for the three months ended 2015 and 2014 is as follows:
	Share Purchase Warrants		Weighted Average Inputs for the Period
	Date of valuation		For the Quarter Ending March 31, 2015			For the Quarter Ending March 31, 2014
	Dividend yield (per share)			0	%		0	%
	Strike price		$	1.52		$	5.84
	Volatility (annual)			155	%		159	%
	Risk-free rate			1.37	%		0.65	%
	Contractual term (years)			4.85			3.83
	The foregoing assumptions are reviewed quarterly and are subject to change based primarily on management’s assessment of the probability of the events described occurring. Accordingly, changes to these assessments could materially affect the valuations.
	Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
	Financial assets and liabilities measured at fair value on a recurring basis are summarized below and disclosed on the balance sheet under Derivative liability – warrants and Derivative liability – conversion option:
	As of March 31, 2015
			Fair Value Measurements
		Fair Value	Level 1	Level 2	Level 3	Total
	Derivative liability - warrants	$  2,053,000	-	-	$  2,053,000	$  2,053,000
	Total	$  2,053,000	-	-	$  2,053,000	$  2,053,000
	As of December 31, 2014
			Fair Value Measurements
		Fair Value	Level 1	Level 2	Level 3	Total
	Derivative liability - warrants	$  9,000	-	-	$  9,000	$  9,000
	Total	$  9,000	-	-	$  9,000	$  9,000
	There were no transfers between Level 1, 2 or 3 during the three months ended March 31, 2015.
	The following table presents changes in Level 3 liabilities measured at fair value for the three months ended March 31, 2015:
		Derivative liability – warrants
	Balance – December 31, 2014	$        9,000
	Additions during the quarter	2,090,000
	Change in fair value of warrant liability	-46,000
	Balance – March 31, 2015	$ 2,053,000
	The valuation of warrants is subjective and is affected by changes in inputs to the valuation model including the price per share of common stock, the historical volatility of the stock price, risk-free rates based on U.S. Treasury security yields, the expected term of the warrants and dividend yield. Changes in these assumptions can materially affect the fair value estimate. The Company could ultimately incur amounts to settle the warrant at a cash settlement value that is significantly different than the carrying value of the liability on the financial statements. The Company will continue to classify the fair value of the warrants as a liability until the warrants are exercised, expire, or are amended in a way that would no longer require these warrants to be classified as a liability. Changes in the fair value of the common stock warrants liability are recognized as a component of other income (expense) in the Statements of Operations.
	ring 2014 the Company entered into numerous extinguishment agreements with various holders. As a result the derivative liability associated with the bifurcated conversion options were extinguished at the date of conversion and recorded in the loss on extinguishment in the Statement of Operations. The inputs utilized in the final mark to market were as follows:
	Conversion Option		Weighted Average Inputs for the Period
	Date of valuation		For the Quarter Ending March 31, 2015			For the Quarter Ending March 31, 2014
	Dividend yield (per share)			-	%		0	%
	Strike price		$	-		$	1.03
	Volatility (annual)			-	%		199	%
	Risk-free rate			-	%		0.05	%
	Contractual term (years)			-			0.24
	Fair value of Conversion Option at extinguishment		$	-		$	708,000

PROMISSORY_NOTE

PROMISSORY NOTE	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
PROMISSORY NOTE	Note 7: Promissory notes, related party
	The Company has outstanding promissory notes in the amount of $52,942 (December 31, 2014 - $52,942), of which $23,000 of promissory notes are from an officer and a director of the Company. The promissory notes bear no interest charges and have no fixed repayment terms.

CAPITAL_STOCK

CAPITAL STOCK	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
CAPITAL STOCK	Note 8: Capital Stock
	2015 Share Transactions
	Private placements
	In January, 2015, the Company entered into a Securities Purchase Agreement with certain investors for the sale of 7,320,000 units at a purchase price of $0.20 per unit, for a total purchase price of approximately $1,250,000, net of finders’ fee and offering expenses of approximately $214,000. Each unit consisting of (i) one share of the Company’s Common Stock, (ii) one Series A warrant to purchase one share of common stock, (iii) one Series B warrant to purchase one share of common stock (iv) one Series C warrant to purchase one share of common stock, (v) one Series D warrant to purchase one share of common stock, and (vi) one Series E warrant to purchase one share of common stock (the Series A, B, C, D and E warrants are hereby collectively referred to as the “January 2015 Warrants”). Series A warrants are exercisable at $1.50 per share, with a five year term. Series B warrants are exercisable at $0.40 per share, with a six month term. Series C warrants are exercisable at $1.00 per share, with a five year term. Series D warrants are exercisable at $0.75 per share only if and to the extent that the Series B warrants are exercised, with a five year term from the date that the Series B warrants are exercised. Series E warrants are exercisable at $1.25 per share, only if and to the extent that the Series C warrants are exercised, with a five year term from the date that the Series C warrants are exercised.
	Pursuant to a placement agent agreement, the Company agreed to issue warrants to purchase 366,000 common shares with substantially the same terms as the January 2015 Warrants.
	The Series A warrants were issued with price reset features. The fair value of these warrants was determined to be $1,346,000 and recognized as a derivative liability.
	The fair value of Series B, C, D & E warrants was determined to be $4,635,000 and was included within equity.
	In March, 2015, the Company entered into a Securities Purchase Agreement with certain accredited investors for the sale of 5,000,000 units at a purchase price of $0.20 per unit, for a total purchase price of approximately $950,000, net of finders’ fee and offering expenses of approximately $50,000. Each unit consisting of (i) one share of the Company’s Common Stock, (ii) one Series A warrant to purchase one share of common stock, (iii) one Series B warrant to purchase one share of common stock (iv) one Series C warrant to purchase one share of common stock, (v) one Series D warrant to purchase one share of common stock, and (vi) one Series E warrant to purchase one share of common stock (the Series A, B, C, D and E warrants are hereby collectively referred to as the “March 2015 Warrants”). The March 2015 Warrants have substantially the same terms as the January 2015 Warrants.
	Pursuant to a placement agent agreement, the Company agreed to issue warrants to purchase 125,000 common shares with substantially the same terms as the March 2015 Warrants.
	The Series A warrants were issued with price reset features. The fair value of these warrants was determined to be $744,000 and recognized as a derivative liability.
	The fair value of Series B, C, D & E warrants was determined to be $2,588,000 and was included within equity.
	Share Purchase Warrants
	A summary of the Company’s share purchase warrants as of March 31, 2015 and changes during the period is presented below:
		Number of	Weighted Average	Weighted Average
		Warrants	Exercise Price	Remaining Life
	Balance, December 31, 2014	2,659,417	1.83	4.15
	Issued	62,090,975	1.03	3.96
	Exercised	-	-	-
	Extinguished or expired	-7,500	50	-
	Balance, March 31, 2015	64,742,892	$  1.01	3.95

CONTINGENCIES_AND_COMMITMENTS

CONTINGENCIES AND COMMITMENTS	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
CONTINGENCIES AND COMMITMENTS	Note 9: ContingencIES AND COMMITMENTs
	Contingencies:
	Consultant Litigation
	In May 2012, the Company issued 112,000 post-consolidated shares of common stock to two consultants. The Company contested the validity of the services provided and initially was not able to delay the sale of the contested shares. The Company was not successful in recovering the contested shares. A claim for alleged damages of approximately $362,000 plus costs by one of the consultants as a result of the contesting of the issuance of the shares was not has  been filed in the Supreme Court of New York. The claim was not for damages on the difference between market price at the time the Company was able to delay the sale of his shares and the market price at the time of the sale of all of his shares. As the result of a judicial decision in New York the consultant received a bond payment of approximately $100,000 that the Company had used to secure a temporary restraining order against the issuance of stock to him. Following hearings at the International Arbitration Tribunal held in New York on May 13-16, 2014 the arbitrator ordered (on July 18, 2014) the consultant to pay Tapimmune $196,204 plus 9% interest from the date of the award. The Company is attempting to collect the award from Mr. Michael Gardner.
	On July 18, 2014, the International Center for Dispute Resolution International Arbitration Tribunal issued a Final Award in the matter of  TapImmune Inc. vs. Michael Gardner awarding TapImmune $196,204 plus post-award interest at a rate of 9% per year. This award stemmed from the dispute discussed above with Mr. Gardner regarding the May 2012 consulting agreement. The arbitrator found that we were fraudulently induced into entering said agreement through “1) misrepresentations as to what he would or could do for the Company, including raising funds, and 2) omissions about his reputation and ability to obtain or assist in obtaining financing for TapImmune” among other reasons. We are attempting to collect the award from Mr. Gardner.
	Vendor Litigation
	One of our suppliers, Fischer Scientific was awarded a judgment against us for $51,000 which is equal to the amount owed to them and is currently accrued on the balance sheet. We intend on settling that matter in the second quarter of 2015.

SIGNIFICANT_ACCOUNTING_POLICIE1

SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Prior Period Reclassifications	Prior Period Reclassifications
	Certain prior period amounts that were combined in the March 31, 2014 consolidated financial statements have been reclassified for comparability with the March 31, 2015 presentation. These reclassifications had no effect on previously reported net loss.

POTENTIALLY_DILUTIVE_SECURITIE1

POTENTIALLY DILUTIVE SECURITIES (Table)	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
POTENTIALLY DILUTIVE SECURITIES		March 31,
		2015		2014
	Common stock options		65,000		65,000
	Common stock warrants - equity treatment		52,229,000		193,000
	Common stock warrants - liability treatment		12,514,000		57,000
	Convertible notes		-		15,000
	Potentially dilutive securities		64,808,000		330,000

DERIVATIVE_WARRANT_LIABILITY_A

DERIVATIVE WARRANT LIABILITY AND FAIR VALUE (Tables)	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
valuation methodology	Share Purchase Warrants		Weighted Average Inputs for the Period
	Date of valuation		For the Quarter Ending March 31, 2015			For the Quarter Ending March 31, 2014
	Dividend yield (per share)			0	%		0	%
	Strike price		$	1.52		$	5.84
	Volatility (annual)			155	%		159	%
	Risk-free rate			1.37	%		0.65	%
	Contractual term (years)			4.85			3.83
Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
		As of March 31, 2015
			Fair Value Measurements
		Fair Value	Level 1	Level 2	Level 3	Total
	Derivative liability - warrants	$  2,053,000	-	-	$  2,053,000	$  2,053,000
	Total	$  2,053,000	-	-	$  2,053,000	$  2,053,000
	As of December 31, 2014
			Fair Value Measurements
		Fair Value	Level 1	Level 2	Level 3	Total
	Derivative liability - warrants	$  9,000	-	-	$  9,000	$  9,000
	Total	$  9,000	-	-	$  9,000	$  9,000
Measured at fair value		Derivative liability – warrants
	Balance – December 31, 2014	$        9,000
	Additions during the quarter	2,090,000
	Change in fair value of warrant liability	-46,000
	Balance – March 31, 2015	$ 2,053,000
Numerous extinguishment agreements	Conversion Option		Weighted Average Inputs for the Period
	Date of valuation		For the Quarter Ending March 31, 2015			For the Quarter Ending March 31, 2014
	Dividend yield (per share)			-	%		0	%
	Strike price		$	-		$	1.03
	Volatility (annual)			-	%		199	%
	Risk-free rate			-	%		0.05	%
	Contractual term (years)			-			0.24
	Fair value of Conversion Option at extinguishment		$	-		$	708,000

CAPITAL_STOCK_Tables

CAPITAL STOCK (Tables)	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Share purchase warrants		Number of	Weighted Average	Weighted Average
		Warrants	Exercise Price	Remaining Life
	Balance, December 31, 2014	2,659,417	1.83	4.15
	Issued	62,090,975	1.03	3.96
	Exercised	-	-	-
	Extinguished or expired	-7,500	50	-
	Balance, March 31, 2015	64,742,892	$  1.01	3.95

LIQUIDITY_AND_FINANCIAL_CONDIT1

LIQUIDITY AND FINANCIAL CONDITION (Details Narrtive) (USD $)	Mar. 31, 2015
Liquidity And Financial Condition Details Narrtive
Cash and cash equivalents	$1,454,000

POTENTIALLY_DILUTIVE_SECURITIE2

POTENTIALLY DILUTIVE SECURITIES (Details)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Potentially Dilutive Securities Details
Common stock options	65,000	65,000
Common stock warrants - equity treatment	52,229,000	193,000
Common stock warrants - liability treatment	12,514,000	57,000
Convertible notes		15,000
Potentially dilutive securities	64,808,000	330,000

PROMISSORY_NOTES_RELATED_PARTY

PROMISSORY NOTES, RELATED PARTY (Details Narrative) (USD $)	Dec. 31, 2014
Outstanding promissory notes in the amount	$52,942
Officer Director [Member]
Outstanding promissory notes in the amount	$23,000

DERIVATIVE_LIABILITY_WARRANTS_1

DERIVATIVE LIABILITY - WARRANTS AND DERIVATIVE LIABILITY - CONVERSION OPTION (Details ) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Strike price		$1.03
Share Purchase Warrants[Member]
Contractual Life (Years)	4 years 10 months 6 days	3 years 9 months 29 days
Risk free Rate	1.37%	0.65%
Dividend yield	0.00%	0.00%
Volatility	155.00%	159.00%
Strike price	$1.52	$5.84

DERIVATIVE_LIABILITY_WARRANTS_2

DERIVATIVE LIABILITY - WARRANTS AND DERIVATIVE LIABILITY - CONVERSION OPTION (Details 1) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Derivative liability - warrants	$9,000	$2,053,000
Total	9,000	2,053,000
Fair Value [Member]
Derivative liability - warrants		2,053,000
Total		2,053,000
Fair Value, Inputs, Level 1 [Member]
Derivative liability - warrants
Total
Fair Value, Inputs, Level 2 [Member]
Derivative liability - warrants
Total
Fair Value, Inputs, Level 3 [Member]
Derivative liability - warrants	9,000	2,053,000
Total	9,000	2,053,000
Carrying Value [Member]
Derivative liability - warrants	9,000
Total	$9,000

DERIVATIVE_LIABILITY_WARRANTS_3

DERIVATIVE LIABILITY - WARRANTS AND DERIVATIVE LIABILITY b CONVERSION OPTION (Details 2) (USD $)	3 Months Ended
	Mar. 31, 2015
Notes to Financial Statements
Balance - December 31, 2013	$9,000
Additions during the quarter	2,090,000
Change in fair value of warrant liability	-46,000
Balance - December 31, 2014	$2,053,000

DERIVATIVE_LIABILITY_WARRANTS_4

DERIVATIVE LIABILITY - WARRANTS AND DERIVATIVE LIABILITY b CONVERSION OPTION (Details 3) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Notes to Financial Statements
Dividend yield (per share)		0.00%
Strike price		$1.03
Volatility (annual)		199.00%
Risk-free rate		0.05%
Contractual term (years)		2 months 27 days
Fair value of Conversion Option at extinguishment		$708,000

CAPITAL_STOCK_Details

CAPITAL STOCK (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2015
Number of Warrants
Balance, December 31, 2014		2,659,417
Issued	62,090,975
Exercised
Extinguished or expired	-7,500
Balance, March 31, 2015	64,742,892
Balance, December 31, 2014		$1.83
Issued	$1.03
Exercised
Extinguished or expired	$50
Balance, March 31, 2015	$1.01
Balance, December 31, 2014	4 years 1 month 24 days
Issued	3 years 11 months 16 days
Balance, March 31, 2015	3 years 11 months 12 days

CONTINGENCIES_AND_COMMITMENTS_

CONTINGENCIES AND COMMITMENTS (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2015	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Number of post-consolidated shares of common stock	112,000
Claim for alleged damages	$362,000
Bond payment	100,000
Amount paid by consultant	196,204
Interest paid by consultant	9.00%
Unpaid legal fees	210,255
Award amount		196,204
Judgment award amount	$51,000