VIASPACE (VSPC) 10-K 14 Apr 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Apr. 14, 2015	Jun. 30, 2014
DocumentDocumentAndEntityInformationAbstract
Entity Registrant Name	VIASPACE Inc.
Entity Central Index Key	1270200
Document Type	10-K
Document Period End Date	31-Dec-14
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 Public Float			$9,443,897
Entity Common Stock, Shares Outstanding		1,597,369,362
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2014

BALANCE_SHEETS

BALANCE SHEETS (USD $)	Dec. 31, 2014	Dec. 31, 2013
CURRENT ASSETS:
Cash and equivalents	$13,000	$6,000
Prepaid expenses	250,000	233,000
TOTAL CURRENT ASSETS	263,000	239,000
FIXED ASSETS, NET	0	1,000
Other assets	1,000	1,000
TOTAL OTHER ASSETS	1,000	1,000
TOTAL ASSETS	264,000	241,000
LIABILITIES AND SHAREHOLDERS' DEFICIT
Accounts payable	58,000	32,000
Accrued expenses	65,000	60,000
Unearned revenue	65,000	37,000
Related party payables	640,000	680,000
TOTAL CURRENT LIABILITIES	828,000	809,000
STOCKHOLDERS' DEFICIT:
Preferred stock, $0.001 par value, 10,000,000 shares authorized, one share of Series A preferred stock issued and outstanding in 2014 and 2013	0	0
Common stock, $0.001 par value, 1,800,000,000 shares authorized, 1,562,431,607 and 1,489,332,999 shares issued and outstanding in 2014 and 2013, respectively	1,562,000	1,489,000
Additional paid in capital	48,115,000	47,432,000
Accumulated deficit	-50,241,000	-49,489,000
Total stockholders' deficit	-564,000	-568,000
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT	$264,000	$241,000

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
STOCKHOLDERS' EQUITY (DEFICIT):
Preferred stock par value (in Dollars per share)	$0.00	$0.00
Preferred stock shares authorized	10,000,000	10,000,000
Preferred stock, Series A shares issued	1	1
Preferred stock, Series A shares outstanding	1	1
Common stock par value (in Dollars per share)	$0.00	$0.00
Common stock shares authorized	1,800,000,000	1,800,000,000
Common stock, shares issued	1,562,431,607	1,489,332,999
Common stock, shares outstanding	1,562,431,607	1,489,332,999

STATEMENTS_OF_OPERATIONS

STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
Income Statement [Abstract]
REVENUES	$153,000		$105,000
COST OF REVENUES	46,000		31,000
GROSS PROFIT	107,000		74,000
OPERATING EXPENSES
Operations	57,000		29,000
Selling, general and administrative	669,000		679,000
Total operating expenses	726,000		708,000
LOSS FROM OPERATIONS	-619,000		-634,000
OTHER EXPENSE
Interest expense	-138,000		-65,000
Other income	5,000		0
Total other expense	-133,000		-65,000
LOSS BEFORE INCOME TAXES	-752,000		-699,000
Income taxes	0		0
NET LOSS	($752,000)		($699,000)
LOSS PER SHARE OF COMMON STOCK - Basic and diluted	$0	[1]	$0
WEIGHTED AVERAGE SHARES OUTSTANDING - Basic and diluted	1,520,187,700		1,466,620,587
[1]	Less than $0.01

CONSOLIDATED_STATEMENTS_OF_SHA

CONSOLIDATED STATEMENTS OF SHAREHOLDERS EQUITY (DEFICIT) (USD $)	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Beginning balance, value at Dec. 31, 2012	$1,433,000	$46,790,000	($48,790,000)	($567,000)
Beginning balance, shares at Dec. 31, 2012	1,433,366,223
Shares issued for consulting services, shares	35,685,445
Shares issued for consulting services, value	36,000	370,000		406,000
Beneficial conversion feature of convertible debt		65,000		65,000
Stock issued upon conversion of note payable, shares	20,281,331
Stock issued upon conversion of note payable, value	20,000	187,000		207,000
Non cash compensation related to stock options		20,000		20,000
Net loss			-699,000	-699,000
Ending balance, value at Dec. 31, 2013	1,489,000	47,432,000	-49,489,000	-568,000
Ending balance, shares at Dec. 31, 2013	1,489,332,999
Shares issued for consulting services, shares	30,273,846
Shares issued for consulting services, value	30,000	263,000		293,000
Beneficial conversion feature of convertible debt		137,000		137,000
Stock issued upon conversion of note payable, shares	42,824,762
Stock issued upon conversion of note payable, value	43,000	222,000		265,000
Non cash compensation related to stock options		61,000		61,000
Net loss			-752,000	-752,000
Ending balance, value at Dec. 31, 2014	$1,562,000	$48,115,000	($50,241,000)	($564,000)
Ending balance, shares at Dec. 31, 2014	1,562,431,607

STATEMENTS_OF_CASH_FLOWS

STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	($752,000)	($699,000)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock option compensation	61,000	20,000
Stock issued for consulting expense	293,000	406,000
Amortization of debt discount	137,000	65,000
Decrease (increase) in:
Prepaid expenses	69,000	59,000
Increase (decrease) in:
Accounts payable	26,000	-42,000
Accrued expenses and other	9,000	-3,000
Unearned revenue	29,000	-29,000
Related party payables	-40,000	0
Net cash used in operating activities	-168,000	-223,000
CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to fixed assets	0	-1,000
Net cash used in investing activities	0	-1,000
CASH FLOWS FROM FINANCING ACTIVITIES:
Loans from related party	265,000	207,000
Payments on financed insurance	-90,000	-27,000
Net cash provided by financing activities	175,000	180,000
NET INCREASE (DECREASE) IN CASH AND EQUIVALENTS	7,000	-44,000
CASH AND CASH EQUIVALENTS, Beginning of year	6,000	50,000
CASH AND CASH EQUIVALENTS, End of year	13,000	6,000
Cash paid during the period for:
Interest	0	0
Income taxes	0	0
Supplemental Disclosure on Non-Cash Activities
Common stock issued for future services	290,000	417,800
Beneficial conversion feature	137,000	65,000
Loans converted to equity	265,000	207,000
Stock issued for accounts payable	0	35,000
Common stock cancelled	0	50,000
Insurance premium financed	$86,416	$68,223

1_SUMMARY_OF_SIGNIFICANT_ACCOU

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies
1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Description of Business – VIASPACE Inc. (“we”, “us”, “VIASPACE”, or the “Company”) was founded in July 1998. Its business involves renewable energy and is based on biomass, in particular our license to a dedicated energy crop with the trademark “Giant King® Grass” (“GKG”). Through a sublicense for GKG we obtained from VIASPACE Green Energy Inc. (“VGE”), we are able to commercialize GKG throughout the world, except for the People’s Republic of China (“China”) and the Republic of China (“Taiwan”).
	GKG can be burned in 100% biomass power plants to generate electricity; made into pellets that can be burned together with coal to reduce carbon emissions from existing power plants; generate bio methane through anaerobic digestion, and can be used as a feedstock for low carbon liquid biofuels for transportation, biochemicals and bio plastics. Cellulosic ethanol, bio butanol and other liquid cellulosic biofuels, do not use corn or other food sources as feedstock. GKG can also be used as animal feed. GKG and other plants absorb and store carbon dioxide from the atmosphere as they grow. When they are burned, they release the carbon dioxide back into the atmosphere, but it is the same carbon dioxide that was removed from the atmosphere, and so this process is carbon neutral. Small amounts of fossil fuel are used by the farm equipment, transportation of GKG and fertilizer, so that the overall process of growing and burning GKG probably has some net carbon dioxide emissions, but much lower emissions than burning coal or other fossil fuels directly to create the same amount of energy. GKG has been independently tested by customers and been shown to have excellent energy content, high bio methane production, and the cellulosic sugar content needed for biofuels and biochemicals.
	Going Concern – The Company has incurred significant losses from operations, resulting in an accumulated deficit of $50,241,000. The Company expects such losses to continue. However, on September 30, 2012, as discussed in Note 4, the Company entered into a Loan Agreement with Dr. Kevin Schewe, a member of the Company’s Board of Directors, whereby Dr. Schewe agreed to fund the Company up to $1,000,000 over a five year period in accordance with such agreement. As of December 31, 2014, the Company had remaining availability under the note of $393,000. The Company expects loans from Dr. Schewe and revenue generated from future contracts using the sublicense it has for Giant King Grass to fund operations for the foreseeable future. However no assurance can be given that Dr. Schewe will continue to fund the Company or that contracts will be obtained in the future, or if they are obtained, that they will be profitable. Accordingly, there continues to be substantial doubt as to the Company’s ability to continue as a going concern. The financial statements do not include any other adjustments that might result from the outcome of these uncertainties.
	Basis of Presentation – The accompanying audited financial statements of the Company were prepared in accordance with United States generally accepted accounting principles (“US GAAP”) for financial information and with Securities and Exchange Commission (“SEC”) instructions to Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Certain reclassifications were made to the December 31, 2013 financial statements to conform to the December 31, 2014 financial statement presentation.
	Use of Estimates in the Preparation of the Financial Statements – The preparation of financial statements, in conformity with US GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
	Cash and Cash Equivalents – The Company considers all highly-liquid investments with an original maturity of three months or less to be cash equivalents. The Company had no cash equivalents as of December 31, 2014 or 2013.
	Income Taxes – Income taxes are accounted for under the asset and liability approach, where deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities, and are measured using enacted tax rates and laws that are expected to be in effect when the differences reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.
	The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining whether it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. An uncertain tax position is considered effectively settled on completion of an examination by a taxing authority if certain other conditions are satisfied. Should the Company incur interest and penalties relating to tax uncertainties, such amounts would be classified as a component of interest expense, net and other income (expense), net, respectively.
	Revenue Recognition – The Company has two revenue models for GKG: 1. grass plantation integrated with a power plant or processing facility such as a pellet mill under company or joint venture control, and 2. contract plantation establishment, support and licensing for a customer that owns and operates the plantation and power plant. During 2014 and 2013, the Company has not recognized revenues under either of these revenue models.
	With regard to revenue recognition in connection with agreements that include multiple deliverables, management reviews the relevant terms of the agreements and determines whether such deliverables should be accounted for as a single unit of accounting in accordance with FASB ASC 605-25, Multiple-Element Arrangements. If it is determined that the items do not have stand-alone value, then such deliverables are accounted for as a single unit of accounting and any payments received pursuant to such agreement, including any upfront or development milestone payments and any payments received for support services, will be deferred and included in deferred revenue within our balance sheet until such time as management can estimate when all of such deliverables will be delivered, if ever. Management reviews and reevaluates such conclusions as each item in the arrangement is delivered and circumstances of the development arrangement change.
	For the year ending December 31, 2014 and 2013, revenue includes amounts earned through consulting agreements and collaborative agreements for the joint operation of test plots to establish that GKG grows well in the area and optimal agronomic practices are developed. Revenue earned from collaborative agreements is comprised of negotiated payments for the operations of the test plots. Deferred revenue represents payments received which are related to future performance.
	Major Customers – A relatively small number of customers account for a significant percentage of the Company’s sales. Five customers represented 87% of revenues for the year ending December 31, 2014.
	Stock Based Compensation – VIASPACE has a stock-based compensation plan. The Company has adopted the accounting and disclosure provisions of “Share-Based Payments”, codified in FASB ASC Topic 718, using the modified prospective application transition method. The Company accounts for equity instruments issued to consultants and vendors in exchange for goods and services in accordance with the provisions of FASB ASC Topic 505-50, “Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods or Services” and “Accounting Recognition for Certain Transactions Involving Equity Instruments Granted to Other than Employees”. The measurement date for the fair value of the equity instruments issued is determined at the earlier of: (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor's performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. In accordance with FASB ASC Topic 505-50, an asset acquired for the issuance of fully vested, non-forfeitable equity instruments should not be presented or classified as an offset to equity on the grantor's balance sheet once the equity instrument is granted for accounting purposes. Accordingly, the Company records the fair value of the fully vested, non-forfeitable common stock issued for future consulting services as prepaid expenses in its balance sheet.
	Fair Value of Financial Instruments – Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date.
	Under the provisions of the Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures (“ASC 820”), there are three levels of inputs that may be used to measure fair value:
	Level 1. Quoted prices in active markets for identical assets or liabilities. The Company had no Level 1 assets or liabilities during any period presented.
	Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated with observable market data for substantially the full term of the assets or liabilities. The Company had no Level 2 assets or liabilities during any period presented.
	Level 3. Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. The Company had no Level 3 assets or liabilities during any period presented.
	The carrying value of cash and cash equivalents, prepaid expenses, trade payables and accrued expenses, payables to related parties and deferred revenue approximates fair value due to the short period of time to maturity.
	Net Income (Loss) Per Share – The Company computes net loss per share in accordance with “Earnings per Share”, codified in FASB ASC Topic 260. Under the provisions of this topic, basic and diluted net loss per share is computed by dividing the net loss available to common shareholders for the period by the weighted average number of shares of common stock outstanding during the period.
	Research and Development – The Company did not record any research and development activities in 2014 or 2013. If we do in the future, it will be expensed as incurred.
	Joint Venture - The Company entered into a joint venture with Corporacion Agricola, S.A. (“Agricorp”), a Nicaragua company, and formed Energia Reino Verde, S.A. (“ERV”) on January 30, 2014. The Company was granted an equity interest of 50% of outstanding shares of ERV for $0 on December 9, 2014. At December 31, 2014, the net assets of ERV were immaterial. The Company has accounted for their investment under the equity method and at December 31, 2014, the investment was recorded at $0. Future plans are that ERV will own and operate a 12 MW biomass power plant that will be co-located with the 834 hectare (2,060 acre) Giant King® Grass plantation project in Nicaragua.
	Recent Accounting Standards - In May 2014, the FASB issued new guidance on the recognition of revenue. The guidance states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard will be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Our adoption begins with the first fiscal quarter of fiscal year 2017. Early adoption is not permitted. We are currently evaluating the impact of the adoption of this accounting standard update on our results of operations or financial position.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entities Ability to Continue as a Going Concern (ASU 2014-15).  The guidance in ASU 2014-15 sets forth management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern as well as required disclosures. ASU 2014-15 indicates that, when preparing financial statements for interim and annual financial statements, management should evaluate whether conditions or events, in the aggregate, raise substantial doubt about the entity's ability to continue as a going concern for one year from the date the financial statements are issued or are available to be issued. This evaluation should include consideration of conditions and events that are either known or are reasonably knowable at the date the financial statements are issued or are available to be issued, as well as whether it is probable that management's plans to address the substantial doubt will be implemented and, if so, whether it is probable that the plans will alleviate the substantial doubt. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods and annual periods thereafter. Early application is permitted.  The adoption of this guidance is not expected to have a material impact on the Company’s financial statements.
	Subsequent Events – Management evaluates, as of each reporting period, events or transactions that occur after the balance sheet date through the date that the financial statements are issued for either disclosure or adjustment to the financial results. The Company has evaluated subsequent events up through the date of the filing of this report with the Securities and Exchange Commission. See Note 10.

2_PREPAID_EXPENSES

2. PREPAID EXPENSES	12 Months Ended
	Dec. 31, 2014
Prepaid Expenses
2. PREPAID EXPENSES	The Company has entered into agreements with certain of its consultants and vendors whereby the Company issued registered shares of its common stock under an existing registration statement on Form S-8 as well as unregistered shares of common stock in exchange for future services to be provided to the Company. At December 31, 2014 and December 31, 2013, the total remaining value of these agreements was $182,000 in both years, which is included in prepaid expenses in the accompanying balance sheets. The Company has engaged a third party provider to pay certain expenses of the Company on behalf of the Company. As compensation for the payment of these expenses on behalf of the Company, the Company pays the provider in shares of common stock equivalent to the expense paid plus a fee equal to 15% of the expense paid. In 2014, the Company issued 30,000,000 unregistered shares of the Company’s common stock with a value of $290,000 in advance of the payments made by the provider. As of December 31, 2014 and December 31, 2013, included in prepaid expenses for this third party provider is $182,000 and $114,000, respectively, for shares of stock issued to the provider in excess of amounts paid on the Company’s behalf. Other prepaid expenses (stock related) were zero and $68,000 as of December 31, 2014 and December 31, 2013, respectively. For the year ended December 31, 2014 and 2013, the Company recorded $293,000 and $406,000, respectively, of stock related expenses.
	Other prepaid expenses (non stock related) were $68,000 and $91,000 at December 31, 2014 and December 31, 2013, respectively.

3_STOCK_OPTIONS_WARRANTS_AND_I

3. STOCK OPTIONS, WARRANTS AND ISSUED STOCKS	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock options, warrants and issued stocks	VIASPACE Inc. 2005 Stock Incentive Plan
	On October 20, 2005, the BOD of the Company adopted the 2005 Stock Incentive Plan (the “Plan”) including the 2005 Non-Employee Director Option Program (the “2005 Director Plan”). The Plan was also approved by the holders of a majority of the Company’s common stock. The Plan originally provided for issuance of up to 28,000,000 shares of the Company’s common stock. On July 12, 2006, the Company filed a Form S-8 Registration Statement with the SEC registering 28,000,000 shares of the Company’s common stock. On February 14, 2008, the BOD and the holders of a majority of the Company’s common stock approved an amendment to the Plan which increased the maximum aggregate number of shares which may be issued in the Plan to 99,000,000 shares. On April 30, 2008, the Company filed a Registration Statement on Form S-8 registering 71,000,000 shares of the Company’s common stock. In addition, effective January 1, 2009 and each January 1 thereafter during the term of the Plan, the maximum number of shares under the Plan are to be increased so that the maximum number of shares is equivalent to 30% of the total number of shares of common stock issued and outstanding as of the close of business on the immediately preceding December 31. On February 4, 2009, the Company filed a Registration Statement on Form S-8 registering 146,500,000 shares of the Company’s common stock based on the number of shares of common stock outstanding on December 31, 2008.
	The Plan is designed to provide additional incentive to employees, directors and consultants of the Company through awarding incentive stock options, non-statutory stock options, stock appreciation rights, restricted stock and other awards. On February 13, 2006, the BOD approved the 2006 Non-Employee Director Option Program (the “2006 Director Plan”) replacing the 2005 Director Plan and the 2006 Director Plan was approved by the holders of a majority of the Company’s common stock.
	The Company’s BOD administers the Plan, selects the individuals to whom options will be granted, determines the number of options to be granted, and the term and exercise price of each option. Stock options granted pursuant to the terms of the Plans generally cannot be granted with an exercise price of less than 100% of the fair market value on the grant date. The term of the options granted under the Plan cannot be greater than 10 years. Options to employees and directors generally vest over two years but the actual length of the vesting term is determined by the BOD. At December 31, 2014, there were 870,002 shares available for future grant.
	During 2014, the Company granted 24,000,000 stock options to directors and employees to purchase common shares. During 2014, zero stock options were cancelled due to employees, directors or consultants terminating employment or service with the Company.
	FASB ASC Topic 718 requires the measurement and recognition of compensation expense for all share-based payment awards made to employees and directors based on estimated fair values using the modified prospective transition method. FASB ASC Topic requires companies to estimate the fair value of share-based payment awards to employees and directors on the date of grant using an option pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense over the requisite services periods on a straight-line basis in the Company’s Statements of Operations.
	The Company adopted the detailed method provided in FASB ASC Topic for calculating the beginning balance of the additional paid-in capital pool (“APIC pool”) related to the tax effects of employee stock-based compensation, and to determine the subsequent impact on the APIC pool and Statements of Cash Flows of the income tax effects of employee stock-based compensation awards that are outstanding upon the adoption of FASB ASC Topic.
	The fair value of each stock option granted is estimated on the date of the grant using the Black-Scholes option pricing model. The Black-Scholes option pricing model has assumptions for risk free interest rates, dividends, stock volatility and expected life of an option grant. The risk free interest rate is based upon market yields for United States Treasury debt securities at a maturity near the term remaining on the option. Dividend rates are based on the Company’s dividend history. The stock volatility factor is based on the historical volatility of the Company’s stock price. The expected life of an option grant is based on management’s estimate as no options have been exercised in the Plan to date. The Company calculated a forfeiture rate for employees and directors based on historical information. A forfeiture rate of 0% is used for options granted to consultants. The fair value of each option grant to employees, directors and consultants is calculated by the Black-Scholes method and is recognized as compensation expense on a straight-line basis over the vesting period of each stock option award. For stock options issued to employees, director and consultants for 2014 and 2013, the fair value was estimated at the date of grant using the following range of assumptions:
		2014		2013
	Risk free interest rate		1.97%		2.00% - 2.06%
	Dividends		0%		0%
	Volatility factor		132.99%		134.81% - 138.17%
	Expected life		6.67 years		6.67 years
	Annual forfeiture rate		0%		0%
	Employee and Director Option Grants
	The following table summarizes activity for employees and directors in the Company’s Plan at December 31, 2014:
		Number of		Weighted-		Weighted-		Aggregate
		Shares		Average		Average		Intrinsic
				Exercise		Remaining		Value
				Price Per		Contractual
				Share		Term In Years
	Outstanding at December 31, 2013		73,408,000	$	0.0132
	Granted		24,000,000		0.0085
	Exercised		–		–
	Forfeited		–		–
	Outstanding at December 31, 2014		97,408,000	$	0.012		6.86	$	122,000
	Exercisable at December 31, 2014		70,408,000	$	0.0132		5.77	$	110,000
	The weighted-average grant date fair value of stock options granted during 2014 and 2013 was $0.0085 and $0.0135 per share, respectively. The Plan recorded $61,000 and $20,000 of compensation expense for employee and director stock options for the years ending December 31, 2014 and 2013, respectively. At December 31, 2014, there was $205,000 of unrecognized compensation costs related to non-vested share-based compensation arrangements under the Plan that is expected to be recognized over a weighted average period of approximately one year and 10 months. For the years ending December 31, 2014 and 2013, the fair value of options vested for employees and directors was $634,000 and $875,000, respectively. There were no options exercised during 2014.
	During 2014, the Company issued 273,846 unregistered shares of common stock to a consultant for services provided to the Company. These share issuances were recorded at $2,880 which is the fair market value determined by the price of the Company’s common stock trading on the OTC Markets on the date of grant.

4_SHORTTERM_AND_LONGTERM_DEBT

4. SHORT-TERM AND LONG-TERM DEBT	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
4. SHORT-TERM AND LONG-TERM DEBT	Loan Agreement with Dr. Kevin Schewe
	Effective September 30, 2012, the Company entered into a Loan Agreement with Director Kevin Schewe whereby Dr. Schewe agreed to loan up to $1 million to the Company over a five-year period based on requests from the Company. The loans would be evidenced by a Secured Convertible Note. Each individual loan will accrue interest at 6% per annum and are secured by all assets of the Company. Each note would mature on the second anniversary of the issuance date of such note. Each note is convertible at Dr. Schewe’s request, into a fixed number of shares of the Company’s common stock based on the closing price of the Company’s common stock for the twenty trading days prior to the issuance of the loan, less a 50% discount. In connection with the separation from VGE, Dr. Schewe was granted an irrevocable proxy that permits him to vote the Preferred Share, giving him the majority shareholder vote. As the controlling shareholder of the Company he has the ability to increase the number of authorized shares without additional shareholder approval. As such, if the outstanding balance on the loan was convertible into more shares than the Company has authorized, he has the ability to increase the authorized shares. As a result, the conversion feature is not deemed to be a derivative instrument subject to bifurcation.
	From January 1, 2014 through December 31, 2014, Dr. Schewe made loans of $265,000 to the Company. The Company recorded a discount on the loans of $137,000 as a result of a beneficial conversion feature, which will be amortized over the term of the note on a straight-line basis, which approximates the effective interest method. During 2014, Dr. Schewe converted loans totaling $265,000 into 42,824,762 common shares of the Company. At the time of the conversions, the company recorded the discount as additional interest expense. As of December 31, 2014, the Company had remaining availability under the note of $393,000.
	On October 28, 2014, the Board of Directors of the Company voted to change the Conversion Price in the Agreement from 80% of the Average Trading Price as reported by the principal trading exchange on which the Company’s Common Stock is traded for the twenty (20) trading days preceding the date of the Note to 50% of the Average Trading Price as reported by the principal trading exchange on which the Company’s Common Stock is traded for the twenty (20) trading days preceding the date of the Note.

5_SHAREHOLDERS_DEFICIT

5. SHAREHOLDERS' DEFICIT	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
5. SHAREHOLDERS' (DEFICIT	Preferred Stock
	At December 31, 2014 and 2013, the number of authorized shares of the Company’s preferred stock was 10,000,000. The par value of the preferred stock is $0.001.
	On May 14, 2010, the Company filed with the Secretary of State of the State of Nevada a Certificate of Designation of Series A Preferred Stock. The Certificate was approved by the Board and did not require shareholder vote. The Certificate created a new class of preferred stock known as Series A Preferred Stock. There is one share designated as Series A Preferred Stock. One share of Series A Preferred Stock is entitled to 50.1% of the outstanding votes on all shareholder voting matters. Series A Preferred Stock has no dividend rights and no rights upon a liquidation event and is subject to cancellation when certain conditions are met. On May 14, 2010, the Company issued one share of Series A Preferred Stock to Mr. Chang related to the acquisition of IPA by VIASPACE and VGE, effectively giving him a controlling interest in VIASPACE.
	Effective as of September 30, 2012, and pursuant to an Agreement to Grant Voting Rights and Transfer Preferred Share executed by Chang and Director Kevin Schewe, Chang granted Schewe an irrevocable proxy that permitted Schewe to vote the Preferred Share. This proxy lasts so long as the License (discussed in Note 2) remained exclusive to the Company. Upon the earlier of (i) the expiration of five years or (ii) the date when the Company reached a market capitalization of at least $50 million, the proxy would be cancelled as the Preferred Share would be transferred from Chang to Schewe.
	At December 31, 2014 and December 31, 2013, there is one share of Series A Preferred Stock outstanding.
	Common Stock
	As of December 31, 2014, the number of authorized shares of the Company’s common stock was 1,800,000,000. The par value of the common stock is $0.001. Common shareholders are entitled to one vote for each share held on all matters voted on by shareholders.
	As of December 31, 2013, there were 1,489,332,999 shares of common stock outstanding. During 2014, the Company issued 30,273,846 unregistered shares of common stock to employees, consultants and vendors for services provided or to be provided to the Company. These share issuances were recorded at $293,000 which is the fair market value determined by the price of the Company’s common stock trading on the OTC Markets on the date of grant. During 2014, the Company issued 42,824,762 shares of common stock to Director Kevin Schewe as he converted loans into shares of common stock as allowed under an agreement he has with the Company as discussed in Note 4. As of December 31, 2014, there were 1,562,431,607 shares of common stock outstanding.

6_INCOME_TAX

6. INCOME TAX	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
6. INCOME TAX	The Company did not record a provision for income taxes for 2014 or 2013 as a result of operating losses. The Company recorded valuation allowances to fully reserve its deferred tax assets, as management believes it is more likely than not that these assets will not be realized. The valuation allowance decreased by approximately $5,140,000 for the year ended December 31, 2013 and increased by $260,000 for the year ended December 31, 2014. It is possible that management’s estimates as to the likelihood of realization of its deferred tax assets could change as a result of changes in estimated operating results. Should management conclude that it is more likely than not that these deferred tax assets are, at least in part, realizable, the valuation allowance will be reduced and recognized as a deferred income tax benefit in the statement of operations in the period of change.
	The Company has Federal net operating loss carryovers of approximately $19,457,000 available at December 31, 2014 and State net operating loss carryovers of approximately $19,355,942 available at December 31, 2014. The federal and California net operating losses will begin to expire in 2023 and 2015, respectively. Additionally, the Company has capital loss carryforwards of approximately $13,231,000 available at December 31, 2014, which expire through 2018. Due to the uncertainty surrounding the realization of the capital loss carryforwards in future tax returns, the tax effect of the capital loss carryforwards is not recognized in the income tax provision.
	FASB ASC 740 also addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than fifty percent likelihood of being realized upon ultimate settlement. ASC 740 also provides guidance on de-recognition, classification, interest and penalties on income taxes, accounting in interim periods and requires increased disclosures. During the years ended December 31, 2014 and 2013, the Company did not recognize any tax liabilities related to uncertain tax positions and does not have a balance for such liabilities as of December 31, 2014.
	The Company recognizes accrued interest and penalties, if any, associated with uncertain tax positions as part of the income tax provision. There was no accrued interest or penalties associated with uncertain tax positions recognized in the Company’s balance sheets as of December 31, 2014 and 2013. The Company is subject to income tax in the United States federal jurisdiction and various state jurisdictions and has identified its federal tax return and tax returns in state jurisdictions below as “major” tax filings. These jurisdictions, along with the years still open to audit under the applicable statutes of limitation, are as follows:
	Jurisdiction	Tax Years
	Federal	2011 - 2013
	California	2011 - 2013
	The following table reconciles the US statutory rates to the Company’s effective tax rate for 2014 and 2013:
		2014			2013
	U.S Statutory rates		34.00%			34.00%
	State taxes, net of Federal benefit		5.60%			5.80%
	Permanent differences		(1.2%	)		(0.1%	)
	Change in Valuation allowance		(38.4%	)		(39.7%	)
	Other		–			–
	Effective income tax rate		0.00%			0.00%
	The following are the components of the Company’s deferred tax assets and liabilities at December 31, 2014 and 2013:
		2014			2013
	Deferred Tax Assets:
	Net operating loss carryforwards	$	7,746,000		$	7,499,000
	Stock compensation expense		4,015,000			4,002,000
	Total Deferred Tax Assets		11,761,000			11,501,000
	Less: Valuation allowance		(11,761,000	)		(11,501,000	)
	Net Deferred Tax Assets	$	–		$	–

7_NET_LOSS_PER_SHARE

7. NET LOSS PER SHARE	12 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
7. NET LOSS PER SHARE	The Company computes net loss per share in accordance with FASB ASC Topic 260. Under its provisions, basic loss per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the periods presented. Diluted earnings would customarily include, if dilutive, potential shares of common stock issuable upon the exercise of stock options and warrants. The dilutive effect of outstanding stock options and warrants is reflected in earnings per share in accordance with FASB ASC Topic 260 by application of the treasury stock method. For the periods presented, the computation of diluted loss per share equaled basic loss per share as the inclusion of any dilutive instruments would have had an antidilutive effect on the earnings per share calculation in the periods presented.
	The following table sets forth common stock equivalents (potential common stock) at December 31, 2014 and 2013 that are not included in the loss per share calculation since their effect would be anti-dilutive for the periods indicated:
		2014			2013
	Stock Options		97,408,000			73,408,000
	The following table sets forth the computation of basic and diluted net loss per share for 2014 and 2013, respectively:
		2014			2013
	Basic and diluted net loss per share:
	Numerator:
	Net loss attributable to common stock	$	(752,000	)	$	(699,000	)
	Denominator:
	Weighted average shares of common stock outstanding		1,520,187,700			1,466,620,587
	Net loss per share of common stock, basic and diluted	$	*		$	*
	__________
	*  Less than $0.01

8_RELATED_PARTY_TRANSACTIONS

8. RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
8. RELATED PARTY TRANSACTIONS
	Included in the Company’s balance sheets at December 31, 2014 and December 31, 2013 are Related Party Payables. The Company has a payable of $640,000 and $680,000, respectively, at December 31, 2014 and December 31, 2013. Included in the amount at December 31, 2014 and 2013 is $640,000 owed to Dr. Kukkonen, CEO of the Company. Of the amount to Dr. Kukkonen, there is a cash component totaling $136,000 and a common stock component totaling $504,000. Dr. Kukkonen deferred a portion of his 2009, 2010 and 2011 stock awards and is entitled to the following unregistered shares of Company common stock at December 31, 2014: 11,195,707 shares for deferred 2009 compensation; 8,467,939 shares for deferred 2010 compensation; and 24,730,678 shares for deferred 2011 compensation.
	Additionally, the Company agreed to pay VGE $40,000 by September 30, 2014 as reimbursement for legal fees and costs in connection with the separation of the Company and VGE. This amount was paid on September 25, 2014.
	The Company has a loan agreement with Director Dr. Kevin Schewe which is described in Note 4.
	On December 18, 2013, the Company entered into a Representation in Pakistan and Giant King Grass Supply contract with Winergy Pakistan Private Limited (“Winergy”), a company incorporated and existing under the laws of Pakistan. Mr. Khurram Irshad, a director of the Company, is a director and shareholder of Winergy. Winergy was also appointed the exclusive representative of the Company in Pakistan. Winergy is developing bioenergy and animal feed projects in Pakistan and seeking a biomass source. The Company's Giant King Grass will be supplied to Winergy and a propagation nursery and test plot is to be established in Pakistan. Winergy will operate and pay the expenses for a Giant King Grass propagation nursery and test plot in Pakistan. Winergy paid a one-time fee of $5,000 to the Company upon the signing of the contract. The Company expects to receive additional license fees in the future from Winergy when they are able to secure relationships with customers who will use the Company's Giant King Grass in their particular application. No additional revenues were received in 2014.

9_OTHER_COMMITMENTS_AND_CONTIN

9. OTHER COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
9. OTHER COMMITMENTS AND CONTINGENCIES	Leases
	The Company currently has no long term office lease. The Company leases land in San Diego County, California where it grows Giant King Grass. Rent expense charged to operations for the year ended December 31, 2014 and December 31, 2013, was $16,000 and $10,000, respectively.
	Collaborative Agreements
	We are a party to certain collaborative agreements with various entities for the joint operation of test plots to establish that GKG grows well in the area and optimal agronomic practices are developed. These agreements are in the form of development collaborations and licensing agreements. Under these agreements, we have granted rights to grow and use of GKG. In return, we are entitled to receive certain payments for the operations of the test plots and license fees on the harvesting of GKG should it ultimately be commercialized.
	All of our collaborative agreements are subject to termination by either party, without significant financial penalty to them. Under the terms of these agreements, upon a termination we are entitled to reacquire all rights in our technology at no cost and are free to re-license the technology to other collaborative partners.
	Revenue earned from collaborative agreements is comprised of negotiated payments for the establishment and operations of the test plots. Deferred revenue represents customer payments received which are related to future performance. Generally for collaborative agreements establishing test plots, the Company recognizes revenue only after the Giant King Grass is planted in the customer’s location. Until that time any money received is recorded as deferred revenue. Once the planting is complete, the collaborative agreement payments are amortized over a period of six and one-half months which represents the growing season of Giant King Grass. During the years ending December 31, 2014 and 2013, the Company received $182,000 and $71,000, respectively, in payments under these collaborative agreements. The payments were deferred until the planting of the seedlings and then recorded as revenue through the date of the first harvest. The Company recognized revenue from these collaborative agreements of $153,000 and $105,000 for the years ending December 31, 2014 and 2013, respectively.
	License Agreement
	Effective as of September 30, 2012, VIASPACE and VGE entered into a Supply, License and Commercialization Agreement (“License Agreement”) pursuant to which VGE granted to VIASPACE a nontransferable, royalty-bearing exclusive license to commercialize Giant King Grass anywhere within the world other than China and Taiwan. Additionally, the License Agreement allows VIASPACE to use the Giant King Grass intellectual property and VIASPACE Green Energy trade name in connection with its efforts to commercialize Giant King Grass. The Company assigned no value to the sublicense due to uncertainties of future revenues.
	VIASPACE agreed that it would not during the term of the License Agreement and a three-year period thereafter, (i) manufacture, commercialize or otherwise engage in any research or development of a grass or any other product or material having similar or otherwise competitive properties to Giant King Grass.
	VGE agreed to provide VIASPACE with Giant King Grass seedlings that will be filled at an agreed upon price as set forth in the License Agreement. VIASPACE agreed to pay VGE for and during the Term a royalty of eight percent (8%) on net sales made in its territory.
	The initial term of the License Agreement is for two years (“Initial Term”). As a condition to the right to renew after the first two-year term for an additional two year term, VIASPACE needed to achieve the milestones in the first two year period:
	• One or more fully-executed, third party sales contracts for the sale of Giant King Grass shall have been entered into during the Initial Term, pursuant to which VIASPACE is to be paid an aggregate amount of at least $200,000 within that 24 consecutive monthly period; and two or more, third party growing locations of at least 10 hectares in total shall have been obtained and planted during the Initial Term. The Company has entered into various collaborative agreements with entities for the joint operation of test plots to satisfy these milestones.
	These milestones were achieved by the Company as of September 30, 2014 and the license was renewed for another two years.
	As a condition to the right to renew the First Renewal Term (for years five and six) of the License Agreement, the Company is to achieve during the First Renewal Term the following milestones by September 30, 2016 as a condition to any such renewal:
	• A total of least three or more (including the above) fully-executed, third party sales contracts for the sale of Giant King Grass shall have been entered into during the First Renewal Term, pursuant to which the Registrant is to be paid the aggregate amount of $400,000, with not less than $100,000 of the Initial Sales Milestone having been paid during the First Renewal Term and with the remaining unpaid balance of the Initial Sales Milestone being paid within six months of the Second Renewal Term (e.g., in the fifth year) and the Second Sales Milestone being paid in full within that 24 consecutive monthly period following the signing of any such third contract; and
	• A total of at least three or more (including the two above) growing locations of at least 30 hectares in total shall have been obtained and planted during the Second Renewal Term, which shall be subject to the reasonable satisfaction of VGE.
	Employment Agreements
	Effective October 1, 2014, the Company entered into one-year employment agreements with Carl Kukkonen and Stephen Muzi. Dr. Kukkonen serves as Chief Executive Officer of the Company and Mr. Muzi serves as Chief Financial Officer, Treasurer and Secretary. Dr. Kukkonen will receive a salary of $169,744 per annum and Mr. Muzi would receive $63,654 per annum. Each of them would also be entitled to a bonus as determined by the Company’s Board of Directors, customary insurance and health benefits, and reimbursement for out-of-pocket expenses in the course of his employment. Additionally, Dr. Kukkonen is to receive 20 business days paid leave per year and Mr. Muzi is to receive 10 business days paid leave.
	Litigation
	The Company is not party to any material legal proceedings at the present time.

10_SUBSEQUENT_EVENTS

10. SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
10. SUBSEQUENT EVENTS	On January 13, 2015, the Company issued 10,000,000 unregistered shares of common stock to a consultant for prepaid services to be provided to the Company. These share issuances were recorded at $90,000 which is the fair market value determined by the price of the Company’s common stock trading on the OTC Markets on the date of grant.
	On January 21, 2015, Kevin Schewe, advanced an additional $35,000 pursuant to the convertible loan agreement and immediately converted the $35,000 loan into 7,608,696 shares of Company common stock at a conversion price of $0.0046 per common share.
	On February 19, 2015, Kevin Schewe, advanced an additional $40,000 pursuant to the convertible loan agreement and immediately converted the $40,000 loan into 9,523,810 shares of Company common stock at a conversion price of $0.0042 per common share.
	On March 25, 2015, Kevin Schewe, advanced an additional $30,000 pursuant to the convertible loan agreement and immediately converted the $30,000 loan into 7,692,308 shares of Company common stock at a conversion price of $0.0039 per common share. Following this issuance, the Company had remaining availability under the note of $288,000.

1_SUMMARY_OF_SIGNIFICANT_ACCOU1

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2014
Summary Of Significant Accounting Policies Policies
Description of Business	Description of Business – VIASPACE Inc. (“we”, “us”, “VIASPACE”, or the “Company”) was founded in July 1998. Its business involves renewable energy and is based on biomass, in particular our license to a dedicated energy crop with the trademark “Giant King® Grass” (“GKG”). Through a sublicense for GKG we obtained from VIASPACE Green Energy Inc. (“VGE”), we are able to commercialize GKG throughout the world, except for the People’s Republic of China (“China”) and the Republic of China (“Taiwan”).
	GKG can be burned in 100% biomass power plants to generate electricity; made into pellets that can be burned together with coal to reduce carbon emissions from existing power plants; generate bio methane through anaerobic digestion, and can be used as a feedstock for low carbon liquid biofuels for transportation, biochemicals and bio plastics. Cellulosic ethanol, bio butanol and other liquid cellulosic biofuels, do not use corn or other food sources as feedstock. GKG can also be used as animal feed. GKG and other plants absorb and store carbon dioxide from the atmosphere as they grow. When they are burned, they release the carbon dioxide back into the atmosphere, but it is the same carbon dioxide that was removed from the atmosphere, and so this process is carbon neutral. Small amounts of fossil fuel are used by the farm equipment, transportation of GKG and fertilizer, so that the overall process of growing and burning GKG probably has some net carbon dioxide emissions, but much lower emissions than burning coal or other fossil fuels directly to create the same amount of energy. GKG has been independently tested by customers and been shown to have excellent energy content, high bio methane production, and the cellulosic sugar content needed for biofuels and biochemicals.
Going Concern	Going Concern – The Company has incurred significant losses from operations, resulting in an accumulated deficit of $50,241,000. The Company expects such losses to continue. However, on September 30, 2012, as discussed in Note 4, the Company entered into a Loan Agreement with Dr. Kevin Schewe, a member of the Company’s Board of Directors, whereby Dr. Schewe agreed to fund the Company up to $1,000,000 over a five year period in accordance with such agreement. As of December 31, 2014, the Company had remaining availability under the note of $393,000. The Company expects loans from Dr. Schewe and revenue generated from future contracts using the sublicense it has for Giant King Grass to fund operations for the foreseeable future. However no assurance can be given that Dr. Schewe will continue to fund the Company or that contracts will be obtained in the future, or if they are obtained, that they will be profitable. Accordingly, there continues to be substantial doubt as to the Company’s ability to continue as a going concern. The financial statements do not include any other adjustments that might result from the outcome of these uncertainties.
Basis of Presentation	Basis of Presentation – The accompanying audited financial statements of the Company were prepared in accordance with United States generally accepted accounting principles (“US GAAP”) for financial information and with Securities and Exchange Commission (“SEC”) instructions to Form 10-K. In the opinion of management, all adjustments considered necessary for a fair presentation have been included. Certain reclassifications were made to the December 31, 2013 financial statements to conform to the December 31, 2014 financial statement presentation.
Use of Estimates in the Preparation of the Financial Statements	Use of Estimates in the Preparation of the Financial Statements – The preparation of financial statements, in conformity with US GAAP, requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
Cash and cash equivalents	Cash and Cash Equivalents – The Company considers all highly-liquid investments with an original maturity of three months or less to be cash equivalents. The Company had no cash equivalents as of December 31, 2014 or 2013.
Income Taxes	Income Taxes – Income taxes are accounted for under the asset and liability approach, where deferred tax assets and liabilities are determined based on differences between financial reporting and tax basis of assets and liabilities, and are measured using enacted tax rates and laws that are expected to be in effect when the differences reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amounts expected to be realized.
	The Company accounts for uncertainty in income taxes using a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining whether it is more likely than not that the position will be sustained on audit, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount which is more than 50% likely of being realized upon ultimate settlement. An uncertain tax position is considered effectively settled on completion of an examination by a taxing authority if certain other conditions are satisfied. Should the Company incur interest and penalties relating to tax uncertainties, such amounts would be classified as a component of interest expense, net and other income (expense), net, respectively.
Revenue Recognition	Revenue Recognition – The Company has two revenue models for GKG: 1. grass plantation integrated with a power plant or processing facility such as a pellet mill under company or joint venture control, and 2. contract plantation establishment, support and licensing for a customer that owns and operates the plantation and power plant. During 2014 and 2013, the Company has not recognized revenues under either of these revenue models.
	With regard to revenue recognition in connection with agreements that include multiple deliverables, management reviews the relevant terms of the agreements and determines whether such deliverables should be accounted for as a single unit of accounting in accordance with FASB ASC 605-25, Multiple-Element Arrangements. If it is determined that the items do not have stand-alone value, then such deliverables are accounted for as a single unit of accounting and any payments received pursuant to such agreement, including any upfront or development milestone payments and any payments received for support services, will be deferred and included in deferred revenue within our balance sheet until such time as management can estimate when all of such deliverables will be delivered, if ever. Management reviews and reevaluates such conclusions as each item in the arrangement is delivered and circumstances of the development arrangement change.
	For the year ending December 31, 2014 and 2013, revenue includes amounts earned through consulting agreements and collaborative agreements for the joint operation of test plots to establish that GKG grows well in the area and optimal agronomic practices are developed. Revenue earned from collaborative agreements is comprised of negotiated payments for the operations of the test plots. Deferred revenue represents payments received which are related to future performance.
Major Customers	Major Customers – A relatively small number of customers account for a significant percentage of the Company’s sales. Five customers represented 87% of revenues for the year ending December 31, 2014.
Stock Based Compensation	Stock Based Compensation – VIASPACE has a stock-based compensation plan. The Company has adopted the accounting and disclosure provisions of “Share-Based Payments”, codified in FASB ASC Topic 718, using the modified prospective application transition method. The Company accounts for equity instruments issued to consultants and vendors in exchange for goods and services in accordance with the provisions of FASB ASC Topic 505-50, “Accounting for Equity Instruments that are Issued to Other than Employees for Acquiring, or in Conjunction with Selling Goods or Services” and “Accounting Recognition for Certain Transactions Involving Equity Instruments Granted to Other than Employees”. The measurement date for the fair value of the equity instruments issued is determined at the earlier of: (i) the date at which a commitment for performance by the consultant or vendor is reached or (ii) the date at which the consultant or vendor's performance is complete. In the case of equity instruments issued to consultants, the fair value of the equity instrument is recognized over the term of the consulting agreement. In accordance with FASB ASC Topic 505-50, an asset acquired for the issuance of fully vested, non-forfeitable equity instruments should not be presented or classified as an offset to equity on the grantor's balance sheet once the equity instrument is granted for accounting purposes. Accordingly, the Company records the fair value of the fully vested, non-forfeitable common stock issued for future consulting services as prepaid expenses in its balance sheet.
Fair Value of Financial Instruments	Fair Value of Financial Instruments – Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date.
	Under the provisions of the Accounting Standards Codification (“ASC”) 820, Fair Value Measurements and Disclosures (“ASC 820”), there are three levels of inputs that may be used to measure fair value:
	Level 1. Quoted prices in active markets for identical assets or liabilities. The Company had no Level 1 assets or liabilities during any period presented.
	Level 2. Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets with insufficient volume or infrequent transactions (less active markets), or model-derived valuations in which all significant inputs are observable or can be derived principally from or corroborated with observable market data for substantially the full term of the assets or liabilities. The Company had no Level 2 assets or liabilities during any period presented.
	Level 3. Unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of assets or liabilities. The Company had no Level 3 assets or liabilities during any period presented.
	The carrying value of cash and cash equivalents, prepaid expenses, trade payables and accrued expenses, payables to related parties and deferred revenue approximates fair value due to the short period of time to maturity.
Net Income (Loss) Per Share	Net Income (Loss) Per Share – The Company computes net loss per share in accordance with “Earnings per Share”, codified in FASB ASC Topic 260. Under the provisions of this topic, basic and diluted net loss per share is computed by dividing the net loss available to common shareholders for the period by the weighted average number of shares of common stock outstanding during the period.
Research and Development	Research and Development – The Company did not record any research and development activities in 2014 or 2013. If we do in the future, it will be expensed as incurred.
Joint Venture	Joint Venture - The Company entered into a joint venture with Corporacion Agricola, S.A. (“Agricorp”), a Nicaragua company, and formed Energia Reino Verde, S.A. (“ERV”) on January 30, 2014. The Company was granted an equity interest of 50% of outstanding shares of ERV for $0 on December 9, 2014. At December 31, 2014, the net assets of ERV were immaterial. The Company has accounted for their investment under the equity method and at December 31, 2014, the investment was recorded at $0. Future plans are that ERV will own and operate a 12 MW biomass power plant that will be co-located with the 834 hectare (2,060 acre) Giant King® Grass plantation project in Nicaragua.
Recent Accounting Standards	Recent Accounting Standards - In May 2014, the FASB issued new guidance on the recognition of revenue. The guidance states that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The standard will be effective for annual reporting periods beginning after December 15, 2016, including interim periods within that reporting period. Our adoption begins with the first fiscal quarter of fiscal year 2017. Early adoption is not permitted. We are currently evaluating the impact of the adoption of this accounting standard update on our results of operations or financial position.
	In August 2014, the FASB issued Accounting Standards Update No. 2014-15, Presentation of Financial Statements – Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entities Ability to Continue as a Going Concern (ASU 2014-15).  The guidance in ASU 2014-15 sets forth management's responsibility to evaluate whether there is substantial doubt about an entity's ability to continue as a going concern as well as required disclosures. ASU 2014-15 indicates that, when preparing financial statements for interim and annual financial statements, management should evaluate whether conditions or events, in the aggregate, raise substantial doubt about the entity's ability to continue as a going concern for one year from the date the financial statements are issued or are available to be issued. This evaluation should include consideration of conditions and events that are either known or are reasonably knowable at the date the financial statements are issued or are available to be issued, as well as whether it is probable that management's plans to address the substantial doubt will be implemented and, if so, whether it is probable that the plans will alleviate the substantial doubt. ASU 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods and annual periods thereafter. Early application is permitted. The adoption of this guidance is not expected to have a material impact on the Company’s financial statements.
Subsequent Events	Subsequent Events – Management evaluates, as of each reporting period, events or transactions that occur after the balance sheet date through the date that the financial statements are issued for either disclosure or adjustment to the financial results. The Company has evaluated subsequent events up through the date of the filing of this report with the Securities and Exchange Commission. See Note 10.

3_STOCK_OPTIONS_WARRANTS_AND_I1

3. STOCK OPTIONS, WARRANTS AND ISSUED STOCKS (Tables)	12 Months Ended
	Dec. 31, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Fair value assumptions		2014		2013
	Risk free interest rate		1.97%		2.00% - 2.06%
	Dividends		0%		0%
	Volatility factor		132.99%		134.81% - 138.17%
	Expected life		6.67 years		6.67 years
	Annual forfeiture rate		0%		0%
Employee and Director Option Grants		Number of		Weighted-		Weighted-		Aggregate
		Shares		Average		Average		Intrinsic
				Exercise		Remaining		Value
				Price Per		Contractual
				Share		Term In Years
	Outstanding at December 31, 2013		73,408,000	$	0.0132
	Granted		24,000,000		0.0085
	Exercised		–		–
	Forfeited		–		–
	Outstanding at December 31, 2014		97,408,000	$	0.012		6.86	$	122,000
	Exercisable at December 31, 2014		70,408,000	$	0.0132		5.77	$	110,000

6_INCOME_TAX_Tables

6. INCOME TAX (Tables)	12 Months Ended
	Dec. 31, 2014
Income Tax Disclosure [Abstract]
Jurisdiction with Years	Jurisdiction	Tax Years
	Federal	2011 - 2013
	California	2011 - 2013
US statutory rates		2014			2013
	U.S Statutory rates		34.00%			34.00%
	State taxes, net of Federal benefit		5.60%			5.80%
	Permanent differences		(1.2%	)		(0.1%	)
	Change in Valuation allowance		(38.4%	)		(39.7%	)
	Other		–			–
	Effective income tax rate		0.00%			0.00%
Deferred tax assets and liabilities		2014			2013
	Deferred Tax Assets:
	Net operating loss carryforwards	$	7,746,000		$	7,499,000
	Stock compensation expense		4,015,000			4,002,000
	Total Deferred Tax Assets		11,761,000			11,501,000
	Less: Valuation allowance		(11,761,000	)		(11,501,000	)
	Net Deferred Tax Assets	$	–		$	–

7_NET_LOSS_PER_SHARE_Tables

7. NET LOSS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 2014
Earnings Per Share [Abstract]
Common Stock Equivalents Not Included in Loss per Share		2014			2013
	Stock Options		97,408,000			73,408,000
Computation of basic and diluted net loss per share		2014			2013
	Basic and diluted net loss per share:
	Numerator:
	Net loss attributable to common stock	$	(752,000	)	$	(699,000	)
	Denominator:
	Weighted average shares of common stock outstanding		1,520,187,700			1,466,620,587
	Net loss per share of common stock, basic and diluted	$	*		$	*

1_SUMMARY_OF_SIGNIFICANT_ACCOU2

1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Research and development expense	$0	$0
Sales Revenue, Net [Member]
Concentration risk	87.00%	93.00%

2_PREPAID_EXPENSES_Details_Nar

2. PREPAID EXPENSES (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Prepaid expenses	$250,000	$233,000
Stock related expenses	61,000	20,000
Other prepaid expenses - non stock related	68,000	91,000
Future Services
Prepaid expenses	182,000	245,000
Third party provider [Member]
Prepaid expenses	182,000	114,000
Other prepaid expenses
Prepaid expenses	$0	$68,000

3_STOCK_OPTIONS_WARRANTS_AND_I2

3. STOCK OPTIONS, WARRANTS AND ISSUED STOCKS (Details - Assumptions)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Risk free interest rate, minimum	1.97%	2.00%
Risk free interest rate, maximum	1.97%	2.06%
Dividends	0.00%	0.00%
Volatility factor, minimum	132.99%	134.81%
Volatility factor, maximum	132.99%	138.17%
Expected life	6 years 8 months 1 day	6 years 8 months 1 day
Annual forfeiture rate	0%	0%

3_STOCK_OPTIONS_WARRANTS_AND_I3

3. STOCK OPTIONS, WARRANTS AND ISSUED STOCKS (Details - Option activity) (Employee And Director Option Grants, USD $)	12 Months Ended
	Dec. 31, 2014
Employee And Director Option Grants
Number of Options Outstanding, Beginning	73,408,000
Number of Options Granted	24,000,000
Number of Options Exercised	0
Number of Options Forfeited	0
Number of Options Outstanding, Ending	97,408,000
Number of Options Exercisable	70,408,000
Weighted Average Exercise Price Outstanding, Beginning	$0.01
Weighted Average Exercise Price Granted	$0.01
Weighted Average Exercise Price Exercised
Weighted Average Exercise Price Forfeited
Weighted Average Exercise Price Outstanding, Ending	$0.01
Weighted Average Exercise Price Exercisable	$0.01
Weighted Average Remaining Contractual Life (in years) Outstanding	5 years 10 months 10 days
Weighted Average Remaining Contractual Life (in years) Exercisable	5 years 9 months 7 days
Aggregate Intrinsic Value, Outstanding	$122,000
Aggregate Intrinsic Value, Exercisable	$110,000

3_STOCK_OPTIONS_WARRANTS_AND_I4

3. STOCK OPTIONS, WARRANTS AND ISSUED STOCKS (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Shares available for future grants	870,002
Weighted average grant date fair value of stock options	$0.01	$0.01
Stock compensation expense	$61,000	$20,000
Unrecognized compensation costs	205,000
Unrecognized weighted average period	1 year 10 months
Fair value of options vested	$634,000	$875,000

4_SHORTTERM_AND_LONGTERM_DEBT_

4. SHORT-TERM AND LONG-TERM DEBT (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Proceeds from related party	$265,000	$207,000
Discount as a result of a beneficial conversion feature	137,000	65,000
Short-term Debt [Member] | Schewe [Member]
Proceeds from related party	265,000
Discount as a result of a beneficial conversion feature	137,000
Loan converted into shares, shares issued	42,824,762
Loan converted into shares, loan value	265,000
Amount remaining under note	$393,000

6_INCOME_TAX_DetailsEffective_

6. INCOME TAX (Details-Effective rate)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
U.S Statutory rates	34.00%	34.00%
State taxes, net of Federal benefit	5.60%	5.80%
Permanent differences	-1.20%	-0.10%
Change in Valuation allowance	-38.40%	-39.70%
Other	0.00%	0.00%
Effective income tax rate	0.00%	0.00%

6_INCOME_TAX_DetailsDeferred_t

6. INCOME TAX (Details-Deferred tax assets) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Deferred Tax Assets:
Net operating loss carryforwards	$7,746,000	$7,499,000
Stock compensation expense	4,015,000	4,002,000
Total Deferred Tax Assets	11,761,000	11,501,000
Less: Valuation allowance	-11,761,000	-11,501,000
Net Deferred Tax Assets	$0	$0

6_INCOME_TAX_Details_Narrative

6. INCOME TAX (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Decrease in valuation allowance	$260,000	($5,140,000)
Capital loss carryover	13,231,000
Capital loss expiration date	31-Dec-18
Uncertain tax positions	0
Federal [Member]
Net operating loss carryover	19,457,000
Operating loss expiration date beginning	31-Dec-23
State [Member]
Net operating loss carryover	$19,355,942
Operating loss expiration date beginning	31-Dec-15

7_NET_LOSS_PER_SHARE_DetailsAn

7. NET LOSS PER SHARE (Details-Antidilutive shares) (Stock Options)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Stock Options
Antidilutive shares excluded from EPS	97,408,000	73,408,000

7_NET_LOSS_PER_SHARE_DetailsCo

7. NET LOSS PER SHARE (Details-Computation diluted loss) (USD $)	12 Months Ended
	Dec. 31, 2014		Dec. 31, 2013
Basic and diluted net loss per share:
Numerator : Net loss attributable to common stock	($752,000)		($699,000)
Denominator
Weighted average shares of common stock outstanding	1,520,187,700		1,466,620,587
Net loss per share of common stock, basic and diluted	$0	[1]	$0
[1]	Less than $0.01

8_RELATED_PARTY_TRANSACTIONS_D

8. RELATED PARTY TRANSACTIONS (Details Narrative) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Related party payables	$640,000	$680,000
Carl Kukkonen
Related party payables	640,000	640,000
VGE [Member]
Related party payables		$40,000

9_OTHER_COMMITMENTS_AND_CONTIN1

9. OTHER COMMITMENTS AND CONTINGENCIES (Details Narrative) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Rent expense	$16,000	$10,000
Revenue recognized under collaborative agreements	$153,000	$105,000