Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended |
Sep. 30, 2014 | |
Document And Entity Information [Abstract] | ' |
Entity Registrant Name | 'NanoFlex Power Corp |
Entity Central Index Key | '0001571636 |
Amendment Flag | 'false |
Document Type | 'S-1 |
Entity Filer Category | 'Smaller Reporting Company |
Document Period End Date | 30-Sep-14 |
Condensed_Consolidated_Balance
Condensed Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
CURRENT ASSETS: | ' | ' | ' |
Cash | $51,011 | $197,004 | $344,656 |
Prepaid expenses and other current assets | 8,624 | 13,645 | 26,429 |
Total current assets | 59,635 | 210,649 | 371,085 |
Property and equipment, net | 15,083 | 7,433 | 4,644 |
TOTAL ASSETS | 74,718 | 218,082 | 375,729 |
CURRENT LIABILITIES: | ' | ' | ' |
Accounts payable | 1,671,986 | 689,119 | 1,003,352 |
Accrued expenses | 1,319,877 | 676,752 | 413,828 |
Accrued payroll | ' | ' | 854,130 |
Accrued interest | ' | ' | 530,502 |
Short-term debt | 600,000 | 100,000 | ' |
Short-term debt- related party | 90,000 | ' | 500,000 |
Short-term debt, net of unamortized discounts of $-0- and $45,421, respectively | ' | ' | 4,342,079 |
Advances - related party | 210,000 | ' | ' |
Total current liabilities | 3,891,863 | 1,465,871 | 7,643,891 |
TOTAL LIABILITIES | 3,891,863 | 1,465,871 | 7,643,891 |
STOCKHOLDERS' DEFICIT: | ' | ' | ' |
Common stock, 250,000,000 authorized, $0.0001 par value, 44,282,278 and 42,799,278 issued and outstanding, respectively | 4,428 | 4,280 | 1,609 |
Additional paid in capital | 172,864,561 | 171,010,959 | 125,754,517 |
Accumulated deficit | -176,686,134 | -172,263,028 | -133,024,288 |
Total stockholders' deficit | -3,817,145 | -1,247,789 | -7,268,162 |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $74,718 | $218,082 | $375,729 |
Condensed_Consolidated_Balance1
Condensed Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Balance Sheets [Abstract] | ' | ' | ' |
Common Stock, shares authorized | 250,000,000 | 250,000,000 | 250,000,000 |
Common Stock, par value per share | $0.00 | $0.00 | $0.00 |
Common Stock, shares issued | 44,282,278 | 42,799,278 | 16,091,909 |
Common Stock, Shares, outstanding | 44,282,278 | 42,799,278 | 16,091,909 |
Short-term due to related party unamortized discount | ' | $0 | $0 |
Short-term debt unamortized discounts | ' | $0 | $45,421 |
Condensed_Consolidated_Stateme
Condensed Consolidated Statements of Comprehensive Loss (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | 239 Months Ended | |||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
OPERATING EXPENSES: | ' | ' | ' | ' | ' | ' | ' |
Research and development | $291,571 | $412,440 | $996,722 | $956,211 | $1,390,438 | $988,127 | $11,457,638 |
Research and development - stock-based compensation | ' | ' | ' | ' | ' | ' | 3,623,294 |
Patent application and prosecution fees | 625,596 | 690,996 | 1,367,998 | 1,263,417 | 2,069,530 | 1,345,743 | 12,728,425 |
Salaries and related expenses | 399,164 | 835,985 | 1,241,256 | 1,373,281 | 1,900,690 | 951,411 | 16,681,654 |
Stock-based compensation | ' | 6,657,689 | ' | 26,064,190 | 26,064,190 | 9,950,226 | 56,945,272 |
Selling, general and administrative expenses | 288,904 | 832,414 | 774,499 | 1,143,121 | 1,407,546 | 622,451 | 7,541,906 |
Depreciation and amortization | ' | ' | ' | ' | 3,393 | 1,412 | 9,279 |
Total operating expenses | 1,605,235 | 9,429,524 | 4,380,475 | 30,800,220 | 32,835,787 | 13,869,370 | 108,987,468 |
LOSS FROM OPERATIONS | 1,605,235 | 9,429,524 | 4,380,475 | 30,800,220 | 32,835,787 | 13,869,370 | 108,987,468 |
OTHER INCOME (EXPENSES): | ' | ' | ' | ' | ' | ' | ' |
Interest expense | -42,631 | -17,932 | -42,631 | -4,463,453 | -4,591,153 | -4,582,324 | -19,229,445 |
Loss on extinguishment of debt | ' | ' | ' | -1,811,800 | -1,811,800 | -2,410,506 | -44,836,858 |
Gain on settlement of lawsuit | ' | ' | ' | ' | ' | ' | 268,187 |
Interest income | ' | ' | ' | ' | ' | ' | 349,162 |
Total other expense | -42,631 | -17,932 | -42,631 | -6,275,253 | -6,402,953 | -6,992,830 | -63,448,954 |
LOSS BEFORE INCOME TAX BENEFIT | 1,647,866 | 9,447,456 | 4,423,106 | 37,075,473 | -39,238,740 | -20,862,200 | -172,436,422 |
INCOME TAX BENEFIT | ' | ' | ' | ' | ' | ' | 173,394 |
NET LOSS | ($1,647,866) | ($9,447,456) | ($4,423,106) | ($37,075,473) | ($39,238,740) | ($20,862,200) | ($172,263,028) |
NET LOSS per share (basic and diluted) | ($0.04) | ($0.42) | ($0.10) | ($0.61) | ($0.59) | ($0.52) | ' |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING, BASIC and DILUTED | 43,923,961 | 22,589,971 | 43,420,085 | 61,079,624 | 66,855,209 | 40,395,528 | ' |
Consolidated_Statement_of_Chan
Consolidated Statement of Changes in Stockholders' Deficit (USD $) | Total | Common Stock [Member] | Additional Paid in Capital [Member] | Accumulated Deficit [Member] |
Balance at Feb. 07, 1994 | $6,000 | $120 | $5,880 | ' |
Balance, shares at Feb. 07, 1994 | ' | 1,200,000 | ' | ' |
Net loss | -44,246,660 | ' | ' | -44,246,660 |
Sale of stock, net of offering expenses | 16,569,910 | 169 | 16,569,741 | ' |
Sale of stock, net of offering expenses, shares | ' | 1,690,217 | ' | ' |
Common shares issued for warrant exercise | 1,170,150 | 60 | 1,170,090 | ' |
Common shares issued for warrant exercise, share | ' | 598,125 | ' | ' |
Warrants issued for loan modification | 2,204,783 | ' | 2,204,783 | ' |
Common shares and warrants issued for debt | 3,854,453 | 20 | 3,854,433 | ' |
Common shares and warrants issued for debt, shares | ' | 200,000 | ' | ' |
Issuance of common shares and warrants for services | 15,404,022 | 2 | 15,404,020 | ' |
Issuance of common shares and warrants for services, shares | ' | 20,000 | ' | ' |
Issuance of common shares for license agreements | 1,400,000 | 14 | 1,399,986 | ' |
Issuance of common shares for license agreements, shares | ' | 140,000 | ' | ' |
Balance at Dec. 31, 2008 | -3,637,342 | 385 | 40,608,933 | -44,246,660 |
Balance, shares at Dec. 31, 2008 | ' | 3,848,342 | ' | ' |
Net loss | -19,625,916 | ' | ' | -19,625,916 |
Common shares issued for warrant exercise | 25,000 | 1 | 24,999 | ' |
Common shares issued for warrant exercise, share | ' | 10,000 | ' | ' |
Warrants issued with debt | 2,912,792 | ' | 2,912,792 | ' |
Warrants issued for loan modification | 11,901,557 | ' | 11,901,557 | ' |
Common shares and warrants issued for debt | 60,000 | ' | 60,000 | ' |
Common shares and warrants issued for debt, shares | ' | 4,000 | ' | ' |
Common shares and warrants issued as compensation | 1,353,740 | ' | 1,353,740 | ' |
Common shares and warrants issued as compensation, shares | ' | 200 | ' | ' |
Balance at Dec. 31, 2009 | -7,010,169 | 386 | 56,862,021 | -63,872,576 |
Balance, shares at Dec. 31, 2009 | ' | 3,862,542 | ' | ' |
Net loss | -38,494,396 | ' | ' | -38,494,396 |
Sale of common shares and warrants | 100,000 | 1 | 99,999 | ' |
Sale of common shares and warrants, Shares | ' | 10,000 | ' | ' |
Common shares repurchased | -60,000 | ' | -60,000 | ' |
Common shares repurchased, shares | ' | -4,000 | ' | ' |
Warrants issued for services | 6,538,628 | ' | 6,538,628 | ' |
Warrants issued for services, shares | ' | ' | ' | ' |
Warrants issued with debt | 3,167,513 | ' | 3,167,513 | ' |
Warrants issued for loan modification | 24,243,303 | ' | 24,243,303 | ' |
Common shares and warrants issued for debt | 4,685,563 | 46 | 4,685,517 | ' |
Common shares and warrants issued for debt, shares | ' | 455,250 | ' | ' |
Beneficial conversion feature on converted debt | 169,486 | ' | 169,486 | ' |
Balance at Dec. 31, 2010 | -6,660,072 | 432 | 95,706,468 | -102,366,972 |
Balance, shares at Dec. 31, 2010 | ' | 4,323,792 | ' | ' |
Net loss | -9,795,116 | ' | ' | -9,795,116 |
Sale of common shares and warrants | 2,438,602 | 27 | 2,438,575 | ' |
Sale of common shares and warrants, Shares | ' | 270,000 | ' | ' |
Warrants issued for services | 1,111,571 | ' | 1,111,571 | ' |
Common shares issued for warrant exercise | 1,500 | 3 | 1,497 | ' |
Common shares issued for warrant exercise, share | ' | 30,000 | ' | ' |
Common stock issued for cash | 1,370,000 | 27 | 1,369,973 | ' |
Common shares issued for cash, shares | ' | 272,000 | ' | ' |
Warrants issued with debt | 337,693 | ' | 337,693 | ' |
Warrants issued for loan modification | 2,110,865 | ' | 2,110,865 | ' |
Common shares issued for Kenyon settlement | 114,249 | ' | 114,249 | ' |
Common shares and warrants issued for debt | 800,000 | 8 | 799,992 | ' |
Common shares and warrants issued for debt, shares | ' | 80,000 | ' | ' |
Common shares issued for warrant exchange with related parties | ' | 44 | -44 | ' |
Common shares issued for warrant exchange with related parties, shares | ' | 435,030 | ' | ' |
Balance at Dec. 31, 2011 | -8,170,708 | 541 | 103,990,839 | -112,162,088 |
Balance, shares at Dec. 31, 2011 | ' | 5,410,822 | ' | ' |
Common shares and warrants issued for debt conversions | 289,975 | 3 | 289,972 | ' |
Common shares and warrants issued for debt conversions, share | ' | 31,500 | ' | ' |
Net loss | -20,862,200 | ' | ' | -20,862,200 |
Sale of common shares and warrants | 428,500 | 4 | 428,496 | ' |
Sale of common shares and warrants, Shares | ' | 43,250 | ' | ' |
Warrants issued for services | 9,402,381 | 300 | 9,402,081 | ' |
Warrants issued for services, shares | ' | 2,988,500 | ' | ' |
Common shares issued for warrant exercise | 1,515,529 | 128 | 1,515,401 | ' |
Common shares issued for warrant exercise, share | ' | 1,282,940 | ' | ' |
Common shares issued for warrant exchange | ' | 46 | -46 | ' |
Common shares issued for warrant exchange, shares | ' | 463,397 | ' | ' |
Common shares issued for loan extensions | 2,235,561 | 36 | 2,235,525 | ' |
Common shares issued for loan extensions, Share | ' | 363,500 | ' | ' |
Common shares issued with party debt | 515,766 | 20 | 515,746 | ' |
Common shares issued with party debt, shares | ' | 198,000 | ' | ' |
Common shares issued with related debt | 2,206,278 | 80 | 2,206,198 | ' |
Common shares issued with related debt, shares | ' | 800,000 | ' | ' |
Common shares issued for debt conversion | 4,000,000 | 440 | 3,999,560 | ' |
Common stock issued for cash | 100,000 | 11 | 99,989 | ' |
Common shares issued for cash, shares | ' | 110,000 | ' | ' |
Common shares issued for debt conversion, shares | ' | 4,400,000 | ' | ' |
Warrants issued for loan extensions | 155,006 | ' | 155,006 | ' |
Warrants issued with nonconvertible debt | 310,732 | ' | 310,732 | ' |
Warrants for issued for warrant exchange | 57,173 | ' | 57,173 | ' |
Warrants issued for services | 465,533 | ' | 465,533 | ' |
Options issued for services | 82,312 | ' | 82,312 | ' |
Balance at Dec. 31, 2012 | -7,268,162 | 1,609 | 125,754,517 | -133,024,288 |
Balance, shares at Dec. 31, 2012 | ' | 16,091,909 | ' | ' |
Common shares and warrants issued for debt conversions, share | 115,500 | ' | ' | ' |
Common shares issued for services | 25,971,940 | 286 | 25,971,654 | ' |
Common shares issued for services, share | 15,000 | 2,858,811 | ' | ' |
Net loss | -39,238,740 | ' | ' | -39,238,740 |
Sale of common shares and warrants | 532,500 | 43 | 532,457 | ' |
Sale of common shares and warrants, Shares | ' | 426,000 | ' | ' |
Common shares issued for warrant exercise | 176,819 | 6 | 176,813 | ' |
Common shares issued for warrant exercise, share | ' | 60,070 | ' | ' |
Common shares issued for loan extensions | 1,758,900 | 29 | 1,758,871 | ' |
Common shares issued for loan extensions, Share | ' | 286,000 | ' | ' |
Common shares issued for debt conversion | 282,900 | 5 | 282,895 | ' |
Common stock issued for cash | 1,050,000 | 116 | 1,049,884 | ' |
Common shares issued for cash, shares | ' | 1,155,000 | ' | ' |
Common shares issued for debt conversion, shares | ' | 46,000 | ' | ' |
Common shares issued to debt holders for additional interest | 1,067,345 | 17 | 1,067,328 | ' |
Common shares issued to debt holders for additional interest, share | ' | 173,552 | ' | ' |
Common shares issued for default penalty interest | 2,214,000 | 36 | 2,213,964 | ' |
Common shares issued for default penalty interest, share | ' | 360,000 | ' | ' |
Common shares issued to warrant holders for additional interest | 733,695 | 12 | 733,683 | ' |
Common shares issued to warrant holders for additional interest, share | ' | 119,300 | ' | ' |
Common shares issued for consulting services | 92,250 | ' | 92,250 | ' |
Common shares issued for consulting services, share | ' | 15,000 | ' | ' |
Common shares issued for forgiveness of debt | 162,915 | 12 | 162,903 | ' |
Common shares issued for forgiveness of debt, share | ' | 115,500 | ' | ' |
Reverse merger adjustment | 5,149 | 966 | 4,183 | ' |
Reverse merger adjustment, share | ' | 9,658,936 | ' | ' |
Common shares issued for automatic conversion of debt due to merger | 11,433,200 | 1,143 | 11,432,057 | ' |
Common shares issued for automatic conversion of debt due to merger, share | ' | 11,433,200 | ' | ' |
Return of equity investment | -222,500 | ' | -222,500 | ' |
Balance at Dec. 31, 2013 | ($1,247,789) | $4,280 | $171,010,959 | ($172,263,028) |
Balance, shares at Dec. 31, 2013 | ' | 42,799,278 | ' | ' |
Condensed_Consolidated_Stateme1
Condensed Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | 12 Months Ended | 239 Months Ended | ||
Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ' | ' | ' | ' | ' |
Net loss | ($4,423,106) | ($37,075,473) | ($39,238,740) | ($20,862,200) | ($172,263,028) |
Adjustments to reconcile net loss to net cash used in operating activities: | ' | ' | ' | ' | ' |
Common shares issued for license agreements | ' | ' | ' | ' | 1,400,000 |
Warrants issued for legal settlement | ' | ' | ' | ' | -268,187 |
Depreciation expense | 2,414 | 2,879 | 3,393 | 1,412 | 28,157 |
Amortization of debt discounts | ' | 45,421 | 45,421 | 3,653,530 | 12,175,705 |
New warrants issued to substitute old warrants | ' | ' | ' | 57,173 | 57,173 |
Stock-based compensation | ' | 26,064,190 | 26,064,190 | 9,950,226 | 60,422,377 |
Interest expense from convertible debt converted to preferred shares | ' | 57,915 | ' | ' | ' |
Interest expense from convertible debt converted to warrants | ' | ' | ' | ' | 133,063 |
Interest expense from additional common shares issued | ' | 4,015,040 | 4,015,040 | 2,410,506 | 4,015,040 |
Loss on extinguishment of debt | ' | 1,811,800 | 1,811,800 | 2,410,506 | 44,836,858 |
Interest expense from related party interest converted to common shares | ' | ' | 57,915 | ' | 57,915 |
Return of equity investment | ' | -222,500 | -222,500 | ' | -222,500 |
Changes in operating assets and liabilities: | ' | ' | ' | ' | ' |
Prepaid expenses and other current assets | 5,021 | 12,784 | 12,784 | -12,732 | -13,645 |
Accounts payable and accrued expenses | 1,625,992 | -1,946,512 | -1,330,941 | -409,757 | 1,853,307 |
Net cash used in operating activities | -2,789,679 | -7,234,456 | -8,781,638 | -5,211,842 | -47,787,765 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' | ' | ' |
Purchases of fixed assets | -10,064 | ' | -6,182 | -2,118 | -35,590 |
Common shares issued in reverse merger, net | ' | 5,049 | 5,149 | ' | 5,149 |
Net cash used in investing activities | -10,064 | 5,049 | -1,033 | -2,118 | -30,441 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' | ' | ' |
Proceeds from exercise of warrants | ' | 176,819 | 176,819 | 1,515,529 | 2,888,998 |
Proceeds from sale of common shares and warrants | 1,853,750 | 1,050,000 | 532,500 | 428,500 | 21,445,512 |
Proceeds from sale of common shares- related party | ' | ' | 1,050,000 | 100,000 | 1,150,000 |
Advances received from related party | 443,000 | ' | ' | ' | ' |
Advances repaid to related party | -233,000 | ' | ' | ' | ' |
Borrowings on related party debt | 150,000 | 240,000 | 240,000 | 2,130,000 | 4,445,000 |
Borrowings on convertible debt - related party | ' | 6,800,000 | 6,800,000 | ' | 7,592,500 |
Borrowings on debt | 500,000 | ' | ' | 2,300,000 | 17,037,500 |
Borrowing on convertible debt | ' | 2,124,500 | 2,124,500 | ' | 2,124,500 |
Principal repayments on debt | ' | -1,725,000 | -1,725,000 | -300,000 | -7,475,000 |
Principal repayments on related party debt | -60,000 | -640,000 | -563,800 | -630,000 | -1,193,800 |
Net cash provided by financing activities | 2,653,750 | 8,026,319 | 8,635,019 | 5,544,029 | 48,015,210 |
NET DECREASE IN CASH | -145,993 | 796,912 | -147,652 | 330,069 | 197,004 |
Cash, beginning of the period | 197,004 | 344,656 | 344,656 | 14,587 | ' |
Cash, end of the period | 51,011 | 1,141,568 | 197,004 | 344,656 | 197,004 |
SUPPLEMENTAL CASH FLOW INFORMATION | ' | ' | ' | ' | ' |
Cash paid for interest | ' | 714,036 | 753,558 | 535,261 | 2,601,625 |
Cash paid for income taxes | ' | ' | ' | ' | ' |
NON-CASH INVESTING AND FINANCING ACTIVITIES | ' | ' | ' | ' | ' |
Common shares repurchased with debt | ' | ' | ' | ' | 60,000 |
Beneficial conversion feature on converted debt | ' | ' | ' | ' | 169,486 |
Warrants and common shares issued with debt | ' | ' | ' | 771,377 | 7,244,532 |
Common shares issued with related party debt | ' | ' | ' | 2,206,278 | 2,206,278 |
Warrants and common shares issued for debt | ' | 230,000 | 230,000 | 250,000 | 9,766,953 |
Common share issued for forgiveness of related party debt | ' | 105,000 | 105,000 | 4,000,000 | 4,105,000 |
Warrants issued for legal settlement | ' | ' | ' | ' | 114,249 |
Short term debt converted into convertible short term debt | ' | ' | ' | ' | ' |
Common shares issued for conversion of convertible debt upon merger | ' | 11,433,200 | 11,433,200 | ' | 11,433,200 |
Class A warrants and common shares issued for debt | ' | ' | ' | ' | ' |
Series A convertible preferred shares issued for debt | ' | ' | ' | ' | ' |
Series B common shares converted into Series A common shares | ' | ' | ' | ' | ' |
Background_Basis_Of_Presentati
Background, Basis Of Presentation And Going Concern | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||
Background, Basis Of Presentation And Going Concern [Abstract] | ' | ' | ||||
BACKGROUND, BASIS OF PRESENTATION, AND GOING CONCERN | ' | ' | ||||
1. BACKGROUND, BASIS OF PRESENTATION: | ||||||
1. BACKGROUND, BASIS OF PRESENTATION, AND GOING CONCERN: | ||||||
Background | ||||||
Global Photonic Energy Corporation was incorporated in Pennsylvania on February 7, 1994. The Company is a development stage company organized to fund, develop and commercialize photonic energy conversion technologies utilizing organic semiconductor-based solar cells. The Company intends to enter into licensing arrangements and other strategic alliances for the development, manufacture and marketing of products utilizing this technology. | ||||||
Background | ||||||
The technology is targeted at certain broad applications including 1) mobile electronic device power, 2) electric vehicle (EV) charging or “power paint”, 3) semi-transparent solar power generating windows or glazing and 4) traditional off-grid and grid-connected solar power generation. Laboratory feasibility prototypes have been developed that successfully demonstrate key building block principles for these technology application areas. | ||||||
Universal Technology Systems Corp. (“UTCH”) (“we”, “our” or the “Company”) was incorporated in Florida on January 28, 2013. | ||||||
Global Photonic Energy Corporation merged with NanoFlex Power Corporation (formerly, Universal Technology Systems Corp., the “Company”) in a share exchange transaction recorded as a reverse merger on September 24, 2013. The Company is organized to fund, develop and commercialize photonic energy conversion technologies utilizing organic semiconductor-based solar cells. The Company intends to enter into licensing arrangements and other strategic alliances for the development, manufacture and marketing of products utilizing this technology. The Company is devoting substantially all of its present efforts to establishing a new business. | ||||||
On September 24, 2013, Universal Technology Systems Corp. (“UTCH”) entered into a stock exchange agreement with Global Photonic Energy Corporation (“GPEC”) and the shareholders of UTCH. Pursuant to the Share Exchange Agreement, UTCH issued 15,500,616 shares of its common stock, representing no less than 80% of the total issued and outstanding common stock of UTCH, to the shareholders of GPEC in exchange for 100% of the issued and outstanding capital stock of GPEC. As a result of this transaction, GPEC became UTCH wholly-owned subsidiary, and UTCH acquired the business and operations of GPEC. | ||||||
For accounting purposes, this transaction was accounted for as a reverse merger and has been treated as a recapitalization of UTCH, where GPEC is considered the accounting acquirer, and the financial statements of the accounting acquirer became the financial statements of the registrant. The Company did not recognize goodwill or any intangible assets in connection with the transaction. Additionally all assets and liabilities of the Company were transferred to GPEC .The historical consolidated financial statements include the operations of the accounting acquirer for all periods presented. | ||||||
Basis or Presentation | ||||||
At the Closing, there were GPEC common shares of 77,503,198 , warrants of 9,586,416, options of 525,000 and 5,255 series A Preferred convertible stock issued and outstanding. As part of the Merger, GPEC shareholders of the Company as of September 24, 2013 received 1 common share of UTCH, Inc. for each 5 common shares, warrants, options and 1,100 common shares for each series A Preferred convertible stock owned of GPEC. | ||||||
Pursuant to the terms and conditions of the issued and outstanding 5,255 Series A Preferred of GPEC and the GPEC Bridge Notes of $11,433,200, UTCH issued to the holders of Series A Preferred: (i) a total of 5,780,500 shares of UTCH Common Stock and (ii) warrants to purchase a total of 5,780,500 shares of UTCH Common Stock and also issued to holders of the GPEC Bridge Notes: (i) a total of 11,433,200 shares of UTCH Common Stock and (ii) warrants to purchase a total of 11,433,200 shares of UTCH Common Stock, as a result of the automatic conversion of such Series A Preferred and GPEC Bridge Notes. | ||||||
The accompanying unaudited interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the accompanying condensed consolidated financial statements include normal recurring adjustments that are necessary for a fair presentation of the results for the interim periods presented. These condensed consolidated financial statements should be read in conjunction with our audited consolidated financial statements and notes thereto for the fiscal year ended December 31, 2013 included in our Annual Report on Form 10-K. The results of operations for the three and nine months ended September 30, 2014 are not necessarily indicative of results to be expected for the full fiscal year or any other periods. | ||||||
In addition, as of the Closing Date, there were issued and outstanding: (i) warrants to purchase an aggregate of 1,917,283 shares of GPEC Common Stock (“GPEC Warrants”) and (ii) options to purchase an aggregate of 105,000 shares of GPEC Common Stock (“GPEC Options). | ||||||
Sponsored Research Agreement - | ||||||
The preparation of the condensed consolidated financial statements in conformity with U.S. generally accepted accounting principles requires management to make a number of estimates and judgments that affect the reported amounts of assets, liabilities, expenses, and related disclosures. Actual results may differ from these estimates. | ||||||
Research and development of the Technology is being conducted at the University of Southern California (“USC”) and, on a subcontractor basis, at the University of Michigan, beginning 2006 and currently under a 5-year Sponsored Research Agreement dated May 1, 2009. During this period, the Company has agreed to pay USC up to $6,338,341 for work to be performed. On December 20, 2013, the Company entered into a Research Agreement with USC (“2013 Research Agreement”) to amend and replace the 2009 Research Agreement to continue the sponsored research at USC and Michigan from February 1, 2014 through January 31, 2021. On the same day, they have also entered into a Third Amendment to the License Agreement which renews and extends the License Agreement by and between USC, Michigan, Princeton and GPEC (“Third Amendment to License Agreement”). GPEC assigned to the Company and the Company assumed all the rights and obligations under both the 2013 Research Agreement and the Third Amendment to License Agreement. The Company expensed $4,080,008 from May 1, 2009 through December 31, 2013. | ||||||
License Agreement - | ||||||
In the quarter ending September 30, 2014, the Company has elected to early adopt Accounting Standards Update No. 2014-10, Development Stage Entities (Topic 915): Elimination of Certain Financial Reporting Requirements. The adoption of this ASU allows the Company to remove the inception to date information and all references to development stage. | ||||||
The Company possesses an exclusive worldwide license and the right to sublicense any and all inventions and intellectual property resulting from the Company’s research agreements. Royalties due under the agreement are 3% of revenues from sublicensing technology and 23% of revenues from any patent rights lawsuit proceeds. Minimum royalties are as follows: | ||||||
2019 and thereafter | ||||||
Going Concern | Year ended December 31, 2014 | $ | 25,000 | |||
2015 | 40,000 | |||||
2016 | 50,000 | |||||
2017 | 65,000 | |||||
The Company has not generated revenues to date. The Company has a working capital deficit of ($3,832,228) and an accumulated deficit of ($176,686,134) as of September 30, 2014. The ability of the Company to continue as a going concern is dependent on raising capital to fund ongoing operations and carry out its business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. To date, the Company has funded its initial operations primarily by way of the sale of equity securities, convertible note financing, short term financing from private parties, and advances from related parties. | 2018 | 75,000 | ||||
100,000 |
Going_Concern
Going Concern | 12 Months Ended |
Dec. 31, 2013 | |
Going Concern [Abstract] | ' |
GOING CONCERN | ' |
2. GOING CONCERN | |
The Company has not generated revenues to date. The Company has a working capital deficit of $1,255,222 and an accumulated deficit of $172,263,028 as of December 31, 2013. The ability of the Company to continue as a going concern is dependent on raising capital to fund ongoing operations and carry out its business plan and ultimately to attain profitable operations. Accordingly, these factors raise substantial doubt as to the Company’s ability to continue as a going concern. The financial statements do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts of and classification of liabilities that might be necessary in the event the Company cannot continue in existence. |
Summary_of_Significant_Account
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ' |
3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | |
Cash and Cash Equivalents | |
For purposes of the statement of cash flows, the Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. | |
Principles of consolidation | |
The consolidated financial statements include the accounts of the Company and its controlled subsidiaries. Equity investments in which we exercise significant influence, but do not control and are not the primary beneficiary, are accounted for using the equity method of accounting. Investments in which we do not exercise significant influence over the investee are accounted for using the cost method of accounting. Intercompany transactions are eliminated. | |
Property and Equipment | |
Property and equipment are stated at cost. Depreciation of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the estimated useful lives of the assets. Estimated useful lives range from three to eight years. | |
Impairment of long-lived assets - The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value | |
Stock-Based Compensation | |
We account for stock based compensation in accordance with FASB ASC 718 which requires companies to measure the cost of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. For stock-based awards granted on or after January 1, 2006, stock-based compensation expense is recognized on a straight-line basis over the requisite service period. In prior years, we accounted for stock-based awards under APB No. 25, “Accounting for Stock Issued to Employees.” We account for non-employee share-based awards in accordance with FASB ASC 505-50. | |
Use of Estimates | |
The preparation of these financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect certain reported amounts and disclosures in the financial statements and accompanying notes. The significant estimates relate useful lives of software licenses, valuation of beneficial conversion feature on convertible debts, valuation of warrants and stock options, and valuation allowance for deferred income taxes. Actual results could differ from those estimates. | |
Credit Risk | |
Cash is maintained in bank accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk on cash. | |
Development Stage Company | |
The Company is a development stage company as defined by ASC 915, Accounting and Reporting by Development Stage Entities. The Company is devoting substantially all of its present efforts to establishing a new business. All losses accumulated since inception have been considered as part of the Company’s development stage activities. | |
Research and Development | |
Research and development costs are expensed in the period they are incurred in accordance with ASC 730, Research and Development unless they meet specific criteria related to technical, market and financial feasibility, as determined by management, including but not limited to the establishment of a clearly defined future market for the product, and the availability of adequate resources to complete the project. If all criteria are met, the costs are deferred and amortized over the expected useful life, or written off if a product is abandoned. At December 31, 2013 and 2012, the Company had no deferred development costs. | |
Fair Value of Financial Instruments | |
The carrying value of short-term financial instruments, including cash, accounts receivable, accounts payable and accrued expenses, and short-term borrowings approximate fair value due to the relatively short period to maturity for these instruments. The long-term borrowings approximate fair value since the related rates of interest approximates current market rates. | |
Income Taxes | |
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse. | |
We have net operating loss carry-forwards available to reduce future taxable income. Future tax benefits for these net operating loss carry-forwards are recognized to the extent that realization of these benefits is considered more likely than not. To the extent that we will not realize a future tax benefit, a valuation allowance is established. | |
New Accounting Pronouncements | |
No recent accounting pronouncements are expected to have a material impact on the Company’s financial statements. | |
Notes_Payable
Notes Payable | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||
Notes Payable [Abstract] | ' | ' | ||||
NOTES PAYABLE | ' | ' | ||||
2. NOTES PAYABLE | 6. NOTES PAYABLE | |||||
In July 2014, the Company borrowed $500,000 under two short term note agreements of $250,000 each. Under the terms of each agreement, the principal balance of $250,000 and interest of $16,500 is due to be repaid within 4 months of the date of the note. At September 30, 2014, $33,000 was recorded as accrued interest relating to these notes. | During 2013, the Company repaid an aggregate of $1,725,000 to the third party creditors. In addition, an aggregate of $230,000 of debt was converted into 46,000 common shares. As the debt was not originally convertible, the issuance of the shares to settle the debt was determined to be debt extinguishment. The fair value of the common shares was determined to be $282,900 and therefore a loss on debt extinguishment was recognized of $52,900. | |||||
During 2013, the maturity date on an aggregate of $1,400,000 of outstanding debt was extended an additional 3 or 4 months. In connection with the extensions, the Company issued 286,000 common shares. The Company evaluated the modifications under ASC 470-50 determined that the modifications were substantial and the revised terms constituted debt extinguishments. The fair value of the common shares was determined to be $1,758,900, and accounted for as a loss on the extinguishment of debt. These notes were converted into the convertible notes see Note 5 and then converted into equity. | ||||||
During 2013, the aggregate amortization of other debt discounts totaled $45,421. These discounts were originally recorded during 2012, 2011 and 2010. As of December 31, 2013, there is no unamortized debt discount remaining. | ||||||
During 2012, the Company borrowed $2,300,000 at interest rates ranging from 5% - 45% per annum. In connection with these borrowings, the Company issued 65,500 warrants and 198,000 common shares. The warrants are exercisable at prices ranging from $0.01 - $2.40, vested immediately and have a term of 5 years. The relative value calculated on the warrants issued was $310,732 and has been recorded as a note discount. The warrants were fully amortized during the year. In addition, the Company issued 198,000 common shares with a relative value of $515,802. The relative value was recorded as a discount on the notes and amortized over the life of the notes. The amortization of debt discount related to the common shares for 2012 is $470,433, leaving an unamortized discount of $45,369. | ||||||
During 2012, a total of $270,000 in notes were converted into a total of 31,500 common shares and 25,000 warrants. The Company recognized a loss on debt extinguishment of $19,975 in conjunction with these conversions. | ||||||
Debt Extensions - | ||||||
At December 31, 2012, the maturity date on an aggregate of $3,325,000 of outstanding debt was extended an additional 3 to 6 months. In connection with the extensions, the Company issued 363,500 common shares and 100,000 warrants. The warrants are exercisable at $12.00, vest immediately and have a term of 5 years. The Company evaluated the modifications under FASB ASC 470-50 determined that the modifications were substantial and the revised terms constituted debt extinguishments. The fair value of the common shares was determined to be $2,235,525 and the fair value of the warrants was determined to be $155,006 resulting in a total loss on the extinguishment of debt due to debt extensions of $2,390,531. | ||||||
The fair values of the warrants were calculated using the Black-Scholes option-pricing model with the following assumptions: | ||||||
Assumption | 2012 | |||||
Expected Volatility | 98%-111 | % | ||||
Expected term (years) | 2-4 | |||||
Risk-free interest rate | 0.74%-2.01 | % |
Notes_Payable_Related_Party
Notes Payable - Related Party | 9 Months Ended |
Sep. 30, 2014 | |
Notes Payable - Related Party [Abstract] | ' |
NOTES PAYABLE - RELATED PARTY | ' |
3. NOTES PAYABLE - RELATED PARTY | |
On February 26, 2014, the Company borrowed $150,000 under a short term note agreement with a related party. Under the terms of this agreement, this note is due to be repaid within 6 months of funding and is non-interest bearing. If the Company defaults on this agreement, the note shall bear interest at a rate of 18 percent per annum for the entire term of the note. In November 2014, the note agreement was amended to extend the due date to February 26, 2015, 12 months from the date of the note. As of September 30, 2014, $90,000 is due under this agreement. | |
During the three months ended September 30, 2014, the Company received advances totaling $76,000 and repaid advances totaling $155,000. During the nine months ended September 30, 2014, the Company received advances totaling $443,000 and repaid advances totaling $233,000. |
Common_Stock
Common Stock | 12 Months Ended |
Dec. 31, 2013 | |
Common Stock and Equity [Abstract] | ' |
COMMON STOCK/ EQUITY | ' |
8. COMMON STOCK | |
As of December 31, 2013, an aggregate of 60,070 common shares were issued for the exercise of warrants for cash proceeds of $176,819. (see Note 7) | |
During 2013, the Company issued an aggregate of 2,858,811 common shares to officers as compensation. The shares are fully vested. The fair value of the shares was determined to be $25,971,940 and was recognized as stock-based compensation. | |
The Company 286,000 common shares were issued for loan extensions valued at $1,758,900. | |
During 2013, the Company issued an aggregate of 173,552 common shares to note holders as additional interest. The fair value of the shares was determined to be $1,067,345 and was recognized as interest expense. | |
During 2013, the Company issued 360,000 common shares to a third party note holder. These shares were issued in accordance to the default terms of the 2010 and 2011 notes. The fair value of the shares was determined to be $2,214,000 and was recognized as interest expense. | |
The Company issued an aggregate of 119,300 common shares to certain warrant holders as additional interest. The fair value of the shares was determined to be $733,695 and was recognized as interest expense during the year ending December 31, 2013. | |
During 2013, the Company issued 15,000 common shares for consulting services. The shares vest immediately. The fair value of the shares was determined to be $92,250 and was recognized as stock based compensation during the nine months ended December30, 2013 | |
The Company issued 46,000 common shares were issued for the conversion of short term debt valued at $282,900. | |
As of December 31, 2013, the Company issued 1,155,000 common shares sold for cash to a majority shareholder for proceeds of 1,050,000. | |
As of December 31, 2013, a majority shareholder converted $105,000 of the interest due to him into 115,500 common shares valued at $162,915. | |
Prior to the closing of the shares exchange agreement, UTCH had 12,000,000 common shares outstanding. On September 22, 2013, UTCH cancelled 9,000,000 shares of UTCH and sold 5,049,113 common shares to GPEC officers for cash proceeds of $5,149. Effective September 22, 2013, UTCHaffected a 1.2-for-1 forward split of the outstanding common stock of the Company, par value $.0001. Authorized and issued common stock increased from 8,049,113 to 9,658,936. All references to UTCH common stock have been retroactively restated to reflect the effect of the forward split. Immediately prior to the closing of the agreement, UTCH had 9,658,936 shares of common stock issued and outstanding. | |
During 2013, the Company paid common share holders $130,000 for the return of equity investment of $225,000. The Company recorded the cash paid and return of equity as additional interest expense. The common shares will be cancelled when returned. The common shares have not been returned as of December 31, 2013. | |
During 2013, Global sold 426,000 units at $1.25 unit for $532,500. Each unit consisted of one common share and one warrant. Each warrant is exercisable for a period of five years from the date of issuance, at $2.50 per share. | |
During 2012, Global sold 43,250 units at $10.00 per unit for $428,500. Each unit consisted of one common share and one warrant. The warrants are exercisable at $12.00, vest immediately and have a term of 5 years. The relative fair value of the warrants was determined to be $146,231. | |
During 2012, the Company issued an aggregate of 2,988,500 to officers as compensation of which 2,110,000 have the following vesting terms, 1/4 immediately upon issuance, 1/4 will be released upon one year from the effective date, and 1/4 will be released upon two years, the last 1/4 will be released after three years completion from the effective date. The other 878,500 shares vest immediately. The fair value of the shares was determined to be $9,402,381 and was recognized as stock-based compensation in 2012. | |
During 2012, 1,282,940 common shares were issued for the exercise of warrants for cash proceeds of $1,515,529. (see note 7) | |
During 2012, the Company issued an aggregate of 463,397 common shares and 74,400 warrants in exchange for 3,053,958 previously granted warrants (see Note 7). | |
During 2012, 31,500 common shares were issued for the conversion of debt (see Note 5), 363,500 common shares were issued for loan extensions (see Note 5), 198,000 common shares were issued with debt (see Note 5) and 800,000 common shares were issued with related party debt (see Note 4). | |
During 2012, the Company issued 4,400,000 common shares to related party for the conversion of note payable (see note 4) and issued 110,000 common shares at $0.91 per share or proceeds of $100,000. |
Stock_Options_and_Warrants
Stock Options and Warrants | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||
Stock Options and Warrants [Abstract] | ' | ' | ||||||||||||||||||||||||
STOCK OPTIONS AND WARRANTS | ' | ' | ||||||||||||||||||||||||
7. STOCK OPTIONS AND WARRANTS | ||||||||||||||||||||||||||
5. STOCK OPTIONS AND WARRANTS | ||||||||||||||||||||||||||
2000 Stock Option Plan | ||||||||||||||||||||||||||
On April 28, 2000, the Board of Directors adopted the 2000 Stock Option Plan. Under the Plan, the Company may grant incentive stock options to employees and non-qualified stock options to employees, non-employee directors and/or consultants. The Plan provides for the granting of a maximum of 2,000,000 options to purchase common stock. The ISO exercise price per share may not be less than the fair market value of a share on the date the option is granted. The maximum term of the options may not exceed ten years. | ||||||||||||||||||||||||||
2000 Stock Option Plan | ||||||||||||||||||||||||||
A summary of stock option activity during the year ended December 31, 2013 and 2012 is as follows: | ||||||||||||||||||||||||||
Options | Weighted Average | |||||||||||||||||||||||||
On April 28, 2000, the Board of Directors adopted the 2000 Stock Option Plan. Under the Plan, the Company may grant incentive stock options to employees and non-qualified stock options to employees, non-employee directors and/or consultants. The Plan provides for the granting of a maximum of 2,000,000 options to purchase common stock. The ISO exercise price per share may not be less than the fair market value of a share on the date the option is granted. The maximum term of the options may not exceed ten years. | Exercise Price | |||||||||||||||||||||||||
Outstanding at December 31, 2011 | 186,000 | $ | 10.6 | |||||||||||||||||||||||
Granted | 15,000 | 10 | ||||||||||||||||||||||||
Cancelled | (64,000 | ) | 10.05 | |||||||||||||||||||||||
A summary of stock option activity during the nine months ended September 30, 2014 is as follows: | Outstanding at December 31, 2012 | 137,000 | $ | 9.7 | ||||||||||||||||||||||
Granted | - | - | ||||||||||||||||||||||||
Exercised | - | - | ||||||||||||||||||||||||
Cancelled | (32,000 | ) | 10.06 | |||||||||||||||||||||||
Weighted | Forfeited | - | - | |||||||||||||||||||||||
Average | Outstanding at December 31, 2013 | 105,000 | $ | 11.03 | ||||||||||||||||||||||
Weighted | Remaining | Exercisable | 105,000 | $ | 11.03 | |||||||||||||||||||||
Average | Contractual | Aggregate | ||||||||||||||||||||||||
Number of | Exercise | Term | Intrinsic | The weighted average remaining contractual life of options outstanding as of December 31, 2013 and 2012, was approximately 2.60 and 1.94 years, respectively. The exercise price of these options range from $10.00 to $15.00 and the intrinsic value of the options as of December 31, 2013 and 2012 is $0.00, respectively. | ||||||||||||||||||||||
Shares | Price | (in years) | Value | |||||||||||||||||||||||
A total of 15,000 options were issued for services in 2012. The exercise price of the options is $10.00. The term of the options is 10 years. These options are fully vested and non-forfeitable upon issuance, accordingly the total fair value of $82,312 was expensed in 2012 | ||||||||||||||||||||||||||
Outstanding as of December 31, 2013 | 105,000 | $ | 11.03 | 2.6 | $ | - | ||||||||||||||||||||
Granted | - | A summary of warrant activity during the year ended December 31, 2013 and 2012 is as follows: | ||||||||||||||||||||||||
Cancelled | (47,000 | ) | $ | 10.31 | ||||||||||||||||||||||
Exercised | - | Weighted Average | ||||||||||||||||||||||||
Warrants | Exercise Price | |||||||||||||||||||||||||
Outstanding as of September 30, 2014 | 58,000 | $ | 11.62 | 3.2 | $ | - | Outstanding at December 31, 2011 | 7,033,392 | 13.6 | |||||||||||||||||
Granted | 665,150 | 9.55 | ||||||||||||||||||||||||
Exercisable as of September 30, 2014 | 58,000 | $ | 11.62 | 3.2 | $ | - | Exercised | (1,282,940 | ) | 4.5 | ||||||||||||||||
Cancelled | (3,923,518 | ) | 15.5 | |||||||||||||||||||||||
Forfeited | (425,000 | ) | 15.2 | |||||||||||||||||||||||
Outstanding at December 31, 2012 | 2,007,083 | 13.9 | ||||||||||||||||||||||||
The exercise price of these options range from $10.00 to $15.00 per share. | Granted | 17,639,700 | 0.4 | |||||||||||||||||||||||
Exercised | (65,050 | ) | 13.26 | |||||||||||||||||||||||
Cancelled | (24,750 | ) | 5.56 | |||||||||||||||||||||||
Forfeited | - | - | ||||||||||||||||||||||||
A summary of warrant activity during the nine months ended September 30, 2014 is as follows: | Outstanding at December 30, 2013 | 19,556,983 | $ | 3.6 | ||||||||||||||||||||||
Exercisable | 19,556,983 | $ | 3.6 | |||||||||||||||||||||||
The weighted average remaining contractual life for warrants outstanding as of December 31, 2013 and 2012 was approximately 4.72 and 14 years, respectively. The exercise price of these warrants ranges from $0.05 to $17.50 and the intrinsic value of the warrants December 31, 2013 and 2012, is $-0-, respectively. | ||||||||||||||||||||||||||
Weighted | ||||||||||||||||||||||||||
Average | During 2013, an aggregate of 65,050 warrants were exercised for cash proceeds of $176,819. | |||||||||||||||||||||||||
Weighted | Remaining | |||||||||||||||||||||||||
Average | Contractual | Aggregate | A total of 83,400 warrants were issued for services in 2012. The exercise price of the warrants ranges from $5.00 to $12.00. The terms of the warrants ranges from 5-10 years. These warrants are fully vested and non-forfeitable upon issuance, accordingly the total fair value of $465,533 was expensed in 2012. | |||||||||||||||||||||||
Number of | Exercise | Term | Intrinsic | |||||||||||||||||||||||
Shares | Price | (in years) | Value | During 2012, 23,400 warrants were granted in exchange for 21,060 previously granted warrants. The warrants are exercisable at $12.00, vest immediately and have a term of 5 years. The Company determined the fair value of the warrants on the grant date and the fair value of the cancelled warrants and recorded an expense for the incremental increase in the fair value of the equity award. The incremental increase in the fair value that was expensed totaled $57,173. | ||||||||||||||||||||||
Outstanding as of December 31, 2013 | 19,556,983 | $ | 3.6 | 4.7 | $ | - | During 2012, the Company canceled a total of 3,053,958 warrants in exchange for 463,397 common shares. This transaction qualified as a modification of a previous award. The change in fair value due to the modification was a decrease; thus, there was no additional expense recorded | |||||||||||||||||||
Granted | 1,483,000 | $ | 2.5 | |||||||||||||||||||||||
Cancelled | - | |||||||||||||||||||||||||
Exercised | - | |||||||||||||||||||||||||
Outstanding as of September 30, 2014 | 21,039,983 | $ | 3.02 | 4.5 | $ | - | ||||||||||||||||||||
Exercisable as of September 30, 2014 | 21,039,983 | $ | 3.02 | 4.5 | $ | - | ||||||||||||||||||||
The exercise price of these warrants ranges from $2.50 to $17.50 per share. | ||||||||||||||||||||||||||
During the three months ended March 31, 2014, the Company modified an aggregate of 860,150 of warrants to reduce their exercise price from a range of $12.00 to $17.50 per share to $2.50 per share. All other terms and conditions remained the same. The Company determined that this transaction did not constitute a modification under ASC 718-10 or ASC 505-50 as it met the scope exceptions for a transaction with an investor or lender. Accordingly, no expense was recognized in connection with these transactions. |
Related_Party_Convertible_Note
Related Party Convertible Notes Payable | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Convertible Notes Payable [Abstract] | ' |
RELATED PARTY CONVERTIBLE NOTES PAYABLE | ' |
4. RELATED PARTY CONVERTIBLE NOTES PAYABLE | |
During 2013, the Company borrowed $6,800,000 from a majority shareholder. These loans were convertible short term note agreements. The notes were unsecured, bore interest at 5% per annum and had a maturity date of December 31, 2013. The notes converted upon the completion of the reverse merger and converted into units of UTCH. Each unit consisted of (i) one share of the Common Stock and (ii) one warrant to purchase one share of the Common Stock. The conversion price was $1 per unit. The warrant may be exercised at a purchase price of $2.50 per share. The holder has a period to exercise of 5 years from the date of issuance. The Company analyzed the conversion options in the Convertible Promissory notes for derivative accounting consideration under ASC 815, Derivative and Hedging, and determines that the transactions do not qualify for derivative treatment. Further, the Company determined that there is no discount to be recognized under accounting for beneficial conversion feature as these notes were automatically converted into the Public Company stock upon completion of a merger which closed on September 24, 2013. On September 24, 2013, the Company issued 6,800,000 common shares and 6,800,000 warrants for the conversion of these notes. | |
The Company converted outstanding accrued interest of $105,000 due to a majority shareholder, into 115,500 common shares. The relative fair value of these shares was determined to be $57,915 and it was recorded as a debt discount. The full discount was amortized to interest expense during 2013. | |
In addition, the Company borrowed $240,000 in the form of short term related party notes and repaid $563,800 and converted $76,200 into common shares upon complete of the reverse merger (see note 1) during 2013. As of December 31, 2013, the balance due is $100,000. | |
On September 24, 2013, the Company issued 76,200 common shares and 76,200 warrants for the conversion of these notes. | |
During 2012, the Company borrowed $2,130,000 from a majority shareholder. These loans were unsecured, bore interest at 5% per annum and originally matured December 22, 2012. In connection with the loans, on January 31, 2012, the note holder was guaranteed 4,000,000 common shares. The relative fair value of these shares was determined to be $2,206,278 and it was recorded as a debt discount. The full discount was amortized to interest expense during 2012. On May 23, 2012, the Company entered into an amended debt agreement with the shareholder whereby all accrued interest was paid in cash and the interest rate of 5% was replaced with a fixed amount of interest of $10,000 for all existing debt and any future debt. The Company evaluated the amendment under FASB ASC 470-50 and determined that the modification was not substantial. In 2012, the Company made cash payments on these notes totaling $630,000 and the remaining $4,000,000 was converted to common shares (see Note 8). As of December 31, 2012, the Company has a balance of $500,000 net discount due to related parties. | |
Additionally in 2012, the Company recorded amortization of debt discount on related party debt totaling $2,239,020 | |
Convertible_Notes_Payable
Convertible Notes Payable | 12 Months Ended |
Dec. 31, 2013 | |
Convertible Notes Payable [Abstract] | ' |
CONVERTIBLE NOTES PAYABLE | ' |
5. CONVERTIBLE NOTES PAYABLE | |
During 2013, the Company modified $2,432,500 of its outstanding short term debt whereby the notes become convertible. Additionally, from July 1, 2013 through September 24, 2013, the Company borrowed $2,124,500 from private investors. The notes were unsecured, bear interest at 5% per annum and had a maturity date of December 31, 2013. The notes converted upon the completion of the reverse merger and converted into units of UTCH. Each unit consists of (i) one share of the Common Stock and (ii) one warrant to purchase one share of the Common Stock. The conversion price is $1 per unit. The warrant may be exercised at a purchase price of $2.50 per share. The holder has a period to exercise of 5 years from the date of issuance. The Company analyzed the conversion options in the Convertible Promissory notes for derivative accounting consideration under ASC 815, Derivative and Hedging, and determines that the transactions do not qualify for derivative treatment. Further, the Company determined that there is no discount to be recognized under accounting for beneficial conversion feature as these notes were automatically converted into the Public Company stock upon completion of a merger which closed on September 24, 2013. | |
On September 24, 2013, the Company issued 4,557,000 common shares and 4,557,000 warrants for the conversion of these notes. | |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
COMMITMENTS AND CONTINGENCIES | ' | ||||
9. COMMITMENTS AND CONTINGENCIES | |||||
Under the 2013 Research Agreement with USC, the Company is obligated to make certain payments to USC based on work performed by USC under that agreement, and by Michigan under its subcontractor agreement with USC. (See Note 1) | |||||
Under the terms of the 2013 Amended License Agreement, the Company is required to make minimum royalty payments to Princeton. (See Note 1) | |||||
The Company has agreements with three executive officers which provide for certain cash and other benefits upon termination of employment of the officer in connection with a change in control of the Company. Each executive is entitled to a lump-sum cash payment equal to three times the sum of the average annual base salary also they are entitled to a cash bonus. | |||||
In November 2013, the Company entered into a 60-month lease agreement for its corporation facility in Arizona. As of December 31, 2013 the Company paid $3,689 in rent connection with this lease agreement. | |||||
Future minimum lease payments are as follows: | |||||
2014 | $ | 82,899 | |||
2015 | $ | 85,256 | |||
2016 | $ | 87,614 | |||
2017 | $ | 89,971 | |||
2018 | $ | 84,634 | |||
During 2013 and 2012 the Company rented office space in Idaho under month-to–month leases. Total rent expense during 2013 and 2012 was $4,476 and $15,608, respectively. The Company no longer rents space in Idaho. | |||||
Income_Taxes
Income Taxes | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Income Taxes | ' | ||||||||
10. INCOME TAXES | |||||||||
The Company has incurred losses since inception. As of December 31, 2012, the Company has net operating loss carry-forwards of approximately $51,000,000 that begin to expire in 2016. The components of the deferred tax assets consist of the following: | |||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Net operating losses | $ | 17,300,000 | $ | 14,700,000 | |||||
Less: valuation allowance | (17,300,000 | ) | (14,700,000 | ) | |||||
Net deferred tax assets | $ | - | $ | - | |||||
A valuation allowance was established for all the net deferred tax assets because realization is not assured. | |||||||||
Subsequent_Events
Subsequent Events | 9 Months Ended | 12 Months Ended |
Sep. 30, 2014 | Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' | ' |
SUBSEQUENT EVENTS | ' | ' |
11. SUBSEQUENT EVENTS | ||
6. SUBSEQUENT EVENTS | ||
During 2014, we sold 112 units at $1.25 unit for $140,000. Each unit consisted of one common share and one warrant. Each warrant is exercisable for a period of five years from the date of issuance, at $2.50 per share. | ||
In October 2014, a permanent decrease in salaries was negotiated with the Company’s employees in an effort to conserve capital resources. |
Summary_of_Significant_Account1
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies [Abstract] | ' |
Cash and Cash Equivalents | ' |
Cash and Cash Equivalents | |
For purposes of the statement of cash flows, the Company considers all highly liquid investments with original maturities of three months or less to be cash equivalents. | |
Principles of consolidation | ' |
Principles of consolidation | |
The consolidated financial statements include the accounts of the Company and its controlled subsidiaries. Equity investments in which we exercise significant influence, but do not control and are not the primary beneficiary, are accounted for using the equity method of accounting. Investments in which we do not exercise significant influence over the investee are accounted for using the cost method of accounting. Intercompany transactions are eliminated. | |
Property and Equipment | ' |
Property and Equipment | |
Property and equipment are stated at cost. Depreciation of property and equipment is provided using the straight-line method for financial reporting purposes at rates based on the estimated useful lives of the assets. Estimated useful lives range from three to eight years. | |
Impairment of long-lived assets | ' |
Impairment of long-lived assets - The Company reviews the carrying value of its long-lived assets annually or whenever events or changes in circumstances indicate that the historical-cost carrying value of an asset may no longer be appropriate. The Company assesses recoverability of the asset by comparing the undiscounted future net cash flows expected to result from the asset to its carrying value. If the carrying value exceeds the undiscounted future net cash flows of the asset, an impairment loss is measured and recognized. An impairment loss is measured as the difference between the net book value and the fair value of the long-lived asset. Fair value is estimated based upon either discounted cash flow analysis or estimated salvage value | |
Stock-Based Compensation | ' |
Stock-Based Compensation | |
We account for stock based compensation in accordance with FASB ASC 718 which requires companies to measure the cost of employee services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. For stock-based awards granted on or after January 1, 2006, stock-based compensation expense is recognized on a straight-line basis over the requisite service period. In prior years, we accounted for stock-based awards under APB No. 25, “Accounting for Stock Issued to Employees.” We account for non-employee share-based awards in accordance with FASB ASC 505-50. | |
Use of Estimates | ' |
Use of Estimates | |
The preparation of these financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that may affect certain reported amounts and disclosures in the financial statements and accompanying notes. The significant estimates relate useful lives of software licenses, valuation of beneficial conversion feature on convertible debts, valuation of warrants and stock options, and valuation allowance for deferred income taxes. Actual results could differ from those estimates. | |
Credit Risk | ' |
Credit Risk | |
Cash is maintained in bank accounts which, at times, may exceed federally insured limits. The Company has not experienced any losses in such accounts and does not believe it is exposed to any significant credit risk on cash. | |
Research and Development | ' |
Research and Development | |
Research and development costs are expensed in the period they are incurred in accordance with ASC 730, Research and Development unless they meet specific criteria related to technical, market and financial feasibility, as determined by management, including but not limited to the establishment of a clearly defined future market for the product, and the availability of adequate resources to complete the project. If all criteria are met, the costs are deferred and amortized over the expected useful life, or written off if a product is abandoned. At December 31, 2013 and 2012, the Company had no deferred development costs. | |
Fair Value of Financial Instruments | ' |
Fair Value of Financial Instruments | |
The carrying value of short-term financial instruments, including cash, accounts receivable, accounts payable and accrued expenses, and short-term borrowings approximate fair value due to the relatively short period to maturity for these instruments. The long-term borrowings approximate fair value since the related rates of interest approximates current market rates. | |
Income Taxes | ' |
Income Taxes | |
Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. These assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which the temporary differences are expected to reverse. | |
We have net operating loss carry-forwards available to reduce future taxable income. Future tax benefits for these net operating loss carry-forwards are recognized to the extent that realization of these benefits is considered more likely than not. To the extent that we will not realize a future tax benefit, a valuation allowance is established. | |
New Accounting Pronouncements | ' |
New Accounting Pronouncements | |
No recent accounting pronouncements are expected to have a material impact on the Company’s financial statements. | |
Development Stage Company | ' |
Development Stage Company | |
The Company is a development stage company as defined by ASC 915, Accounting and Reporting by Development Stage Entities. The Company is devoting substantially all of its present efforts to establishing a new business. All losses accumulated since inception have been considered as part of the Company’s development stage activities. | |
Background_Basis_Of_Presentati1
Background, Basis Of Presentation And Going Concern (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Background, Basis Of Presentation And Going Concern [Abstract] | ' | ||||
Summary of royalty revenue | ' | ||||
Year ended December 31, 2014 | $ | 25,000 | |||
2015 | 40,000 | ||||
2016 | 50,000 | ||||
2017 | 65,000 | ||||
2018 | 75,000 | ||||
2019 and thereafter | 100,000 | ||||
Notes_Payable_Tables
Notes Payable (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Notes Payable [Abstract] | ' | ||||
Summary of fair values of warrants | ' | ||||
Assumption | 2012 | ||||
Expected Volatility | 98%-111 | % | |||
Expected term (years) | 4-Feb | ||||
Risk-free interest rate | 0.74%-2.01 | % | |||
Stock_Options_and_Warrants_Tab
Stock Options and Warrants (Tables) | 9 Months Ended | 12 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | |||||||||||||||||||||||||
Stock Options [Member] | ' | ' | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ||||||||||||||||||||||||
Summary of stock option activity | ' | ' | ||||||||||||||||||||||||
Weighted | Options | Weighted Average | ||||||||||||||||||||||||
Average | Exercise Price | |||||||||||||||||||||||||
Weighted | Remaining | Outstanding at December 31, 2011 | 186,000 | $ | 10.6 | |||||||||||||||||||||
Average | Contractual | Aggregate | Granted | 15,000 | 10 | |||||||||||||||||||||
Number of | Exercise | Term | Intrinsic | Cancelled | (64,000 | ) | 10.05 | |||||||||||||||||||
Shares | Price | (in years) | Value | Outstanding at December 31, 2012 | 137,000 | $ | 9.7 | |||||||||||||||||||
Granted | - | - | ||||||||||||||||||||||||
Outstanding as of December 31, 2013 | 105,000 | $ | 11.03 | 2.6 | $ | - | Exercised | - | - | |||||||||||||||||
Granted | - | Cancelled | (32,000 | ) | 10.06 | |||||||||||||||||||||
Cancelled | (47,000 | ) | $ | 10.31 | Forfeited | - | - | |||||||||||||||||||
Exercised | - | Outstanding at December 31, 2013 | 105,000 | $ | 11.03 | |||||||||||||||||||||
Exercisable | 105,000 | $ | 11.03 | |||||||||||||||||||||||
Outstanding as of September 30, 2014 | 58,000 | $ | 11.62 | 3.2 | $ | - | ||||||||||||||||||||
Exercisable as of September 30, 2014 | 58,000 | $ | 11.62 | 3.2 | $ | - | ||||||||||||||||||||
Warrant [Member] | ' | ' | ||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ||||||||||||||||||||||||
Summary of stock option activity | ' | ' | ||||||||||||||||||||||||
Weighted | Weighted Average | |||||||||||||||||||||||||
Average | Warrants | Exercise Price | ||||||||||||||||||||||||
Weighted | Remaining | Outstanding at December 31, 2011 | 7,033,392 | 13.6 | ||||||||||||||||||||||
Average | Contractual | Aggregate | Granted | 665,150 | 9.55 | |||||||||||||||||||||
Number of | Exercise | Term | Intrinsic | Exercised | (1,282,940 | ) | 4.5 | |||||||||||||||||||
Shares | Price | (in years) | Value | Cancelled | (3,923,518 | ) | 15.5 | |||||||||||||||||||
Forfeited | (425,000 | ) | 15.2 | |||||||||||||||||||||||
Outstanding as of December 31, 2013 | 19,556,983 | $ | 3.6 | 4.7 | $ | - | Outstanding at December 31, 2012 | 2,007,083 | 13.9 | |||||||||||||||||
Granted | 1,483,000 | $ | 2.5 | Granted | 17,639,700 | 0.4 | ||||||||||||||||||||
Cancelled | - | Exercised | (65,050 | ) | 13.26 | |||||||||||||||||||||
Exercised | - | Cancelled | (24,750 | ) | 5.56 | |||||||||||||||||||||
Forfeited | - | - | ||||||||||||||||||||||||
Outstanding as of September 30, 2014 | 21,039,983 | $ | 3.02 | 4.5 | $ | - | Outstanding at December 30, 2013 | 19,556,983 | $ | 3.6 | ||||||||||||||||
Exercisable | 19,556,983 | $ | 3.6 | |||||||||||||||||||||||
Exercisable as of September 30, 2014 | 21,039,983 | $ | 3.02 | 4.5 | $ | - |
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | ||||
Dec. 31, 2013 | |||||
Commitments and Contingencies [Abstract] | ' | ||||
Schedule of future minimum lease payments | ' | ||||
2014 | $ | 82,899 | |||
2015 | $ | 85,256 | |||
2016 | $ | 87,614 | |||
2017 | $ | 89,971 | |||
2018 | $ | 84,634 | |||
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | ||||||||
Dec. 31, 2013 | |||||||||
Income Taxes [Abstract] | ' | ||||||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | ' | ||||||||
December 31, | |||||||||
2013 | 2012 | ||||||||
Net operating losses | $ | 17,300,000 | $ | 14,700,000 | |||||
Less: valuation allowance | (17,300,000 | ) | (14,700,000 | ) | |||||
Net deferred tax assets | $ | - | $ | - | |||||
Background_Basis_Of_Presentati2
Background, Basis Of Presentation And Going Concern (Details) (License Agreement Terms [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
2014 [Member] | ' |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' |
Royalty Revenue | $25,000 |
2015 [Member] | ' |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' |
Royalty Revenue | 40,000 |
2016 [Member] | ' |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' |
Royalty Revenue | 50,000 |
2017 [Member] | ' |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' |
Royalty Revenue | 65,000 |
2018 [Member] | ' |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' |
Royalty Revenue | 75,000 |
2019 and thereafter [Member] | ' |
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items] | ' |
Royalty Revenue | $100,000 |
Background_Basis_Of_Presentati3
Background, Basis Of Presentation And Going Concern (Details Textual) (USD $) | 12 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||
Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 20, 2013 | Sep. 24, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Feb. 07, 1994 | Sep. 24, 2013 | Sep. 24, 2013 | Sep. 24, 2013 | Sep. 24, 2013 | Sep. 24, 2013 | Sep. 24, 2013 | Sep. 24, 2013 | Sep. 24, 2013 | |
License Agreement [Member] | Sponsored Research Agreement [Member] | Sponsored Research Agreement [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | UTCH [Member] | UTCH [Member] | UTCH [Member] | GPEC [Member] | GPEC [Member] | GPEC [Member] | GPEC [Member] | GPEC [Member] | ||||
Common Stock [Member] | Series A Preferred Stock [Member] | Convertible Debt [Member] | Common Stock [Member] | Series A Preferred Stock [Member] | Employee Stock Option [Member] | Warrant [Member] | Convertible Debt [Member] | ||||||||||||||
Background Basis of Presentation (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shares, issued | 1,155,000 | ' | ' | ' | ' | ' | ' | 463,397 | ' | ' | ' | ' | ' | 15,500,616 | 5,780,500 | ' | 77,503,198 | 5,255 | 525,000 | 9,378,916 | ' |
Warrants to be issued | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,780,500 | 11,433,200 | 9,586,416 | ' | ' | ' | ' |
Convertible notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $11,433,200 |
Shares, outstanding | ' | ' | ' | ' | ' | ' | 42,799,278 | 16,091,909 | 5,410,822 | 4,323,792 | 3,862,542 | 3,848,342 | 1,200,000 | ' | ' | ' | ' | 5,255 | ' | ' | ' |
Common stock, ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 80.00% | ' | ' | 100.00% | ' | ' | ' | ' |
Cancellation of common stock warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,917,283 | ' | ' | ' | ' | ' | ' | ' |
Cancellation of options | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 105,000 | ' | ' | ' | ' | ' | ' | ' |
Description of common shares and warrants receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'GPEC shareholders of the Company as of September 24, 2013 received 1 common share of UTCH, Inc. for each 5 common shares, warrants, options and 1,100 common shares for each series A Preferred convertible stock owned of GPEC | ' | ' | ' |
Research and development agreement description | ' | ' | ' | ' | 'On December 20, 2013, the Company entered into a Research Agreement with USC ("2013 Research Agreement") to amend and replace the 2009 Research Agreement to continue the sponsored research at USC and Michigan from February 1, 2014 through January 31, 2021 | 'Research and development of the Technology is being conducted at the University of Southern California ("USC") and, on a subcontractor basis, at the University of Michigan, beginning 2006 and currently under a 5-year Sponsored Research Agreement dated May 1, 2009. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash paid for research and development | ' | ' | ' | ' | 4,080,008 | 6,338,341 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Royalties due percentage | 23.00% | ' | ' | 3.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Working Capital | ' | -3,832,228 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Retained Earnings (Accumulated Deficit) | ($172,263,028) | ($176,686,134) | ($133,024,288) | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Going_Concern_Details
Going Concern (Details) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Going Concern [Abstract] | ' | ' | ' |
Accumulated deficit | ($176,686,134) | ($172,263,028) | ($133,024,288) |
Working capital deficit | ($2,328,760) | ($1,255,222) | ' |
Summary_of_Significant_Account2
Summary of Significant Accounting Policies (Details) | 12 Months Ended |
Dec. 31, 2013 | |
Summary of Significant Accounting Policies (Textual) | ' |
Property and equipment, depreciation method | ' |
Straight-line method | |
Property and equipment, estimated useful lives | ' |
Estimated useful lives range from three to eight years. |
Notes_Payable_Details
Notes Payable (Details) | 12 Months Ended |
Dec. 31, 2012 | |
Assumption | ' |
Expected Volatility, minimum | 98.00% |
Expected Volatility, maximum | 111.00% |
Risk-free interest rate, minimum | 0.74% |
Risk-free interest rate, maximum | 2.01% |
Minimum [Member] | ' |
Assumption | ' |
Expected term (years) | '2 years |
Maximum [Member] | ' |
Assumption | ' |
Expected term (years) | '4 years |
Notes_Payable_Details_Textual
Notes Payable (Details Textual) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 239 Months Ended | ||||
Jul. 31, 2014 | Sep. 24, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Note | |||||||||
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from Short-term Debt | $500,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Other Short-term Borrowings | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Short-term Debt, Maximum Amount Outstanding During Period | 250,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Interest Expense, Short-term Borrowings | 16,500 | ' | ' | ' | ' | ' | ' | ' | ' |
Number of short term notes borrowed | 2 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument, Increase, Accrued Interest | ' | ' | ' | ' | 33,000 | ' | 105,000 | 2,206,278 | ' |
Common shares and warrants issued for debt conversions | ' | ' | ' | ' | ' | ' | ' | 289,975 | ' |
Common shares issued for conversion | ' | 6,800,000 | ' | ' | ' | ' | 115,500 | 800,000 | ' |
Common stock fair value determined | ' | ' | ' | ' | ' | ' | 2,214,000 | ' | ' |
Short-term debt outstanding | ' | ' | 600,000 | ' | 600,000 | ' | 100,000 | ' | 100,000 |
Amortization of debt discounts | ' | ' | ' | ' | ' | 45,421 | 45,421 | 3,653,530 | 12,175,705 |
Company borrowing amount | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' |
Debt, interest rate, maximum | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' |
Debt, interest rate, minimum | ' | ' | ' | ' | ' | ' | ' | 45.00% | ' |
Vesting period | ' | ' | ' | ' | ' | ' | ' | '5 years | ' |
Relative value on warrants and common shares issued | ' | ' | ' | ' | ' | ' | ' | 146,231 | ' |
Unamortized debt discount | ' | ' | ' | ' | ' | ' | ' | 45,369 | ' |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | -1,811,800 | -1,811,800 | -2,410,506 | -44,836,858 |
Debt Extensions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for conversion | ' | ' | ' | ' | ' | ' | ' | 363,500 | ' |
Common stock issued in connection with debt extension | ' | ' | ' | ' | ' | ' | 286,000 | ' | ' |
Amortization of debt discounts | ' | ' | ' | ' | ' | ' | ' | 3,325,000 | ' |
Vesting period | ' | ' | ' | ' | ' | ' | ' | '5 years | ' |
Exercise Price Range, maximum | ' | ' | ' | ' | ' | ' | ' | $12 | ' |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | 2,390,531 | ' |
Common Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares and warrants issued for debt conversions | ' | ' | ' | ' | ' | ' | ' | 3 | ' |
Common shares issued for conversion | ' | ' | ' | ' | ' | ' | ' | 198,000 | ' |
Amortization of debt discounts | ' | ' | ' | ' | ' | ' | ' | 470,433 | ' |
Relative value on warrants and common shares issued | ' | ' | ' | ' | ' | ' | ' | 515,802 | ' |
Common Stock [Member] | Debt Extensions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for conversion | ' | ' | ' | ' | ' | ' | ' | 363,500 | ' |
Relative value on warrants and common shares issued | ' | ' | ' | ' | ' | ' | ' | 2,235,525 | ' |
Warrant [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for conversion | ' | ' | ' | ' | ' | ' | ' | 65,500 | ' |
Common stock fair value determined | ' | ' | ' | ' | ' | ' | 176,819 | ' | ' |
Exercise Price Range, minimum | ' | ' | ' | ' | ' | ' | ' | $0.01 | ' |
Exercise Price Range, maximum | ' | ' | ' | ' | ' | ' | ' | $2.40 | ' |
Relative value on warrants and common shares issued | ' | ' | ' | ' | ' | ' | ' | 310,732 | ' |
Warrant [Member] | Debt Extensions [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for conversion | ' | ' | ' | ' | ' | ' | ' | 100,000 | ' |
Relative value on warrants and common shares issued | ' | ' | ' | ' | ' | ' | ' | 155,006 | ' |
Third Party Loans [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of notes payable | ' | ' | ' | ' | ' | ' | 1,725,000 | ' | ' |
Common shares and warrants issued for debt conversions | ' | ' | ' | ' | ' | ' | 230,000 | ' | ' |
Common shares issued for conversion | ' | ' | ' | ' | ' | ' | 46,000 | ' | ' |
Common stock fair value determined | ' | ' | ' | ' | ' | ' | 282,900 | ' | ' |
Loss on debt extinguishment | ' | ' | ' | ' | ' | ' | 52,900 | ' | ' |
Amortization of debt discounts | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares and warrants issued for debt conversions | ' | ' | ' | ' | ' | ' | ' | 270,000 | ' |
Common stock fair value determined | ' | ' | ' | ' | ' | ' | 1,758,900 | ' | ' |
Short-term debt outstanding | ' | ' | ' | ' | ' | ' | 1,400,000 | ' | 1,400,000 |
Common stock issued in connection with debt extension | ' | ' | ' | ' | ' | ' | 286,000 | ' | ' |
Amortization of debt discounts | ' | ' | ' | ' | ' | ' | 45,421 | ' | ' |
Loss on extinguishment of debt | ' | ' | ' | ' | ' | ' | ' | $19,975 | ' |
Notes Payable [Member] | Common Stock [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for conversion | ' | ' | ' | ' | ' | ' | ' | 31,500 | ' |
Notes Payable [Member] | Warrant [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for conversion | ' | ' | ' | ' | ' | ' | ' | 25,000 | ' |
Notes_Payable_Related_Party_De
Notes Payable - Related Party (Details) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 24, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2012 | Feb. 26, 2014 | |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' |
Short-term debt- related party | ' | ' | ' | ' | ' | $150,000 |
Debt Instrument Interest Rate | ' | ' | ' | ' | ' | 18.00% |
Advances received from related party | ' | -76,000 | 443,000 | ' | ' | ' |
Advances repaid to related party | ' | -155,000 | -233,000 | ' | ' | ' |
Maturity Date | 31-Dec-13 | ' | 26-Feb-15 | ' | 22-Dec-12 | ' |
Convertible Notes Payable [Member] | ' | ' | ' | ' | ' | ' |
Notes Payable (Textual) | ' | ' | ' | ' | ' | ' |
Related party transactions amounts due | ' | $90,000 | $90,000 | ' | ' | ' |
Common_Stock_Details
Common Stock (Details) (USD $) | 9 Months Ended | 12 Months Ended | 179 Months Ended | 1 Months Ended | 12 Months Ended | 179 Months Ended | |||||||||||
Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | Sep. 22, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | Dec. 31, 2009 | Dec. 31, 2008 | |
UTCH [Member] | UTCH [Member] | Warrant [Member] | Warrant [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | Common Stock [Member] | ||||||||
Common Stocks Textual [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for warrant exercise, share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,070 | 1,282,940 | 30,000 | ' | 10,000 | 598,125 |
Common shares issued for warrant exercise | ' | $176,819 | $1,515,529 | $1,500 | ' | $25,000 | $1,170,150 | ' | ' | ' | ' | $6 | $128 | $3 | ' | $1 | $60 |
Common shares issued for services, share | ' | 15,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,858,811 | ' | ' | ' | ' | ' |
Common shares issued for services | ' | 25,971,940 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 286 | ' | ' | ' | ' | ' |
Common shares issued for loan extensions, Share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 286,000 | 363,500 | ' | ' | ' | ' |
Common shares issued for loan extensions | ' | 1,758,900 | 2,235,561 | ' | ' | ' | ' | ' | ' | ' | ' | 29 | 36 | ' | ' | ' | ' |
Common shares issued to debt holders for additional interest, share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 173,552 | ' | ' | ' | ' | ' |
Common shares issued to debt holders for additional interest | ' | 1,067,345 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 17 | ' | ' | ' | ' | ' |
Common shares issued for default penalty interest, share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 360,000 | ' | ' | ' | ' | ' |
Common shares issued for default penalty interest | ' | 2,214,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 36 | ' | ' | ' | ' | ' |
Common shares issued to warrant holders for additional interest, share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 119,300 | ' | ' | ' | ' | ' |
Common shares issued to warrant holders for additional interest | ' | 733,695 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' |
Common shares issued for consulting services, share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15,000 | ' | ' | ' | ' | ' |
Common shares issued for consulting services | ' | 92,250 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for debt conversion, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 46,000 | 4,400,000 | ' | ' | ' | ' |
Common shares issued for debt conversion | ' | 282,900 | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 440 | ' | ' | ' | ' |
Common shares issued for cash, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,155,000 | 110,000 | 272,000 | ' | ' | ' |
Common stock issued for cash | ' | 1,050,000 | 100,000 | 1,370,000 | ' | ' | ' | ' | ' | ' | ' | 116 | 11 | 27 | ' | ' | ' |
Shares issued price per share | ' | ' | $0.91 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common shares issued for forgiveness of debt, share | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 115,500 | ' | ' | ' | ' | ' |
Common shares issued for forgiveness of debt | ' | 162,915 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12 | ' | ' | ' | ' | ' |
Common shares issued for warrant exchange, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 74,400 | ' | 463,397 | ' | ' | ' | ' |
Conversion of warrants to common shares during the period | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3,053,958 | ' | ' | ' | ' | ' | ' |
Converted note interest due amount | ' | 105,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, Shares, outstanding | 44,282,278 | 42,799,278 | 16,091,909 | ' | ' | ' | ' | 9,658,936 | 12,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, shares issued | 44,282,278 | 42,799,278 | 16,091,909 | ' | ' | ' | ' | 9,658,936 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock, shares cancelled | ' | ' | ' | ' | ' | ' | ' | 9,000,000 | ' | ' | -425,000 | ' | ' | ' | ' | ' | ' |
Common shares and warrants issued for debt conversions, share | ' | 115,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31,500 | ' | ' | ' | ' |
Common shares issued with party debt, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 198,000 | ' | ' | ' | ' |
Common shares issued with related debt, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000 | ' | ' | ' | ' |
Sale of stock and warrant, description | 'Each unit consisted of one common share and one warrant. Each warrant is exercisable for a period of five years from the date of issuance, at $2.50 per share. | 'Each unit consisted of one common share and one warrant. | 'Each unit consisted of one common share and one warrant. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Sale of common shares and warrants | 1,853,750 | 532,500 | 428,500 | 2,438,602 | 100,000 | ' | ' | ' | ' | ' | ' | 43 | 4 | 27 | 1 | ' | ' |
Sale of common shares and warrants, Shares | 1,483,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 426,000 | 43,250 | 270,000 | 10,000 | ' | ' |
Sale of stock and warrant, per share price | $1.25 | $1.25 | $10 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Forward split | ' | ' | ' | ' | ' | ' | ' | '1.2-for-1 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common Stock, par value per share | $0.00 | $0.00 | $0.00 | ' | ' | ' | ' | $0.00 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Changes in Capital Structure | ' | ' | ' | ' | ' | ' | ' | 'Authorized and issued common stock increased from 8,049,113 to 9,658,936. | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Distribution to shareholders for return on equity investment | ' | 130,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Equity investment from shareholders | ' | 225,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrant exercisable period | '5 years | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants exercisable price per share | $2.50 | $2.50 | $12 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Warrants issued for services | ' | ' | 9,402,381 | 1,111,571 | 6,538,628 | ' | ' | ' | ' | ' | ' | ' | 300 | ' | ' | ' | ' |
Warrants issued for services, shares | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,988,500 | ' | ' | ' | ' |
Relative fair value of warrants | ' | ' | $146,231 | ' | ' | ' | ' | ' | ' | ' | $310,732 | ' | $515,802 | ' | ' | ' | ' |
Share issued to officers as compensation vesting, description | ' | 'The Company issued an aggregate of 2,988,500 to officers as compensation of which 2,110,000 have the following vesting terms, 1/4 immediately upon issuance, 1/4 will be released upon one year from the effective date, and 1/4 will be released upon two years, the last 1/4 will be released after three years completion from the effective date. | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Shaes issued to officers as compensation vests immediately | ' | ' | 878,500 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Stock_Options_and_Warrants_Det
Stock Options and Warrants (Details) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Number of Shares, Outstanding | ' | ' | 137,000 |
Weighted Average Exercise Price, Outstanding | ' | ' | $9.70 |
Stock Options [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Number of Shares, Outstanding | 105,000 | 137,000 | 186,000 |
Number of shares, granted | ' | ' | 15,000 |
Number of Shares, Exercised | ' | ' | ' |
Number of Shares, Cancelled | -47,000 | -32,000 | -64,000 |
Number of Shares, Forfeited | ' | ' | ' |
Number of Shares, Outstanding | 58,000 | 105,000 | 137,000 |
Number of Shares, Exercised | 58,000 | 105,000 | ' |
Weighted Average Exercise Price, Outstanding | $11.03 | $9.70 | $10.60 |
Weighted Average Exercise Price, Granted | ' | ' | $10 |
Weighted Average Exercise Price, Exercised | ' | ' | ' |
Weighted Average Exercise Price, Cancelled | $10.31 | $10.06 | $10.05 |
Weighted Average Exercise Price, Forfeited | ' | ' | ' |
Weighted Average Exercise Price, Outstanding | $11.62 | $11.03 | $9.70 |
Weighted Average Exercise Price, Exercisable | $11.62 | $11.03 | ' |
Weighted Average Remaining Contractual Term Outstanding | '2 years 7 months 6 days | ' | ' |
Weighted Average Remaining Contractual Term Outstanding | '3 years 2 months 12 days | '2 years 7 months 6 days | '1 year 11 months 9 days |
Weighted Average Remaining Contractual Term Outstanding Exercisable | '3 years 2 months 12 days | ' | ' |
Aggregate Intrinsic Value Outstanding | ' | ' | ' |
Aggregate Intrinsic Vallue Exercisable | ' | ' | ' |
Warrant [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' | ' | ' |
Number of Shares, Outstanding | 19,556,983 | 2,007,083 | 7,033,392 |
Number of shares, granted | 1,483,000 | 17,639,700 | 665,150 |
Number of Shares, Exercised | ' | -65,050 | -1,282,940 |
Number of Shares, Cancelled | ' | -24,750 | -3,923,518 |
Number of Shares, Forfeited | ' | ' | -425,000 |
Number of Shares, Outstanding | 21,039,983 | 19,556,983 | 2,007,083 |
Number of Shares, Exercised | 21,039,983 | 19,556,983 | ' |
Weighted Average Exercise Price, Outstanding | $3.60 | $13.90 | $13.60 |
Weighted Average Exercise Price, Granted | $2.50 | $0.40 | $9.55 |
Weighted Average Exercise Price, Exercised | ' | $13.26 | $4.50 |
Weighted Average Exercise Price, Cancelled | ' | $5.56 | $15.50 |
Weighted Average Exercise Price, Forfeited | ' | ' | $15.20 |
Weighted Average Exercise Price, Outstanding | $3.02 | $3.60 | $13.90 |
Weighted Average Exercise Price, Exercisable | $3.02 | $3.60 | ' |
Weighted Average Remaining Contractual Term Outstanding | '4 years 8 months 12 days | ' | ' |
Weighted Average Remaining Contractual Term Outstanding | '4 years 6 months | '2 years 7 months 6 days | '14 years |
Weighted Average Remaining Contractual Term Outstanding Exercisable | '4 years 6 months | ' | ' |
Aggregate Intrinsic Value Outstanding | ' | ' | ' |
Aggregate Intrinsic Vallue Exercisable | ' | ' | ' |
Stock_Options_and_Warrants_Det1
Stock Options and Warrants (Details Textual) (USD $) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Stock Options And Warrants (Textual) | ' | ' | ' |
Number of options to purchase common stock | 2,000,000 | 2,000,000 | ' |
Common shares issued for services, share | ' | 15,000 | ' |
Common shares issued for services | ' | $25,971,940 | ' |
Vesting period | ' | ' | '5 years |
Warrants granted during the period | 860,150 | ' | 21,060 |
Stock Options [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Weighted average remaining contractual life of options outstanding | '3 years 2 months 12 days | '2 years 7 months 6 days | '1 year 11 months 9 days |
Exercise price of options/warrants | ' | ' | 10 |
Intrinsic value of the options/warrants | ' | ' | ' |
Common shares issued for services, share | ' | ' | 15,000 |
Common shares issued for services | ' | ' | 82,312 |
Vesting period | ' | ' | '10 years |
Number of Shares, Forfeited | ' | ' | ' |
Stock Options [Member] | Minimum [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Exercise price of options/warrants | 10 | $10 | 10 |
Stock Options [Member] | Maximum [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Exercise price of options/warrants | 15 | $15 | 15 |
Warrant [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Weighted average remaining contractual life of options outstanding | '4 years 6 months | '2 years 7 months 6 days | '14 years |
Intrinsic value of the options/warrants | ' | ' | ' |
Number of Shares, Forfeited | ' | ' | -425,000 |
Conversion of warrants to common shares during the period | ' | ' | 3,053,958 |
Warrants exercised | ' | 65,050 | ' |
Proceeds from warrants exercised | ' | 176,819 | ' |
Warrant [Member] | Minimum [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Exercise price of options/warrants | 2.5 | $0.05 | 17.5 |
Warrant [Member] | Maximum [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Exercise price of options/warrants | 17.5 | $17.50 | 0.05 |
Warrant [Member] | Exercise Price Range One [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Common shares issued for services, share | ' | ' | 83,400 |
Common shares issued for services | ' | ' | 465,533 |
Warrant [Member] | Exercise Price Range One [Member] | Minimum [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Exercise price of options/warrants | 12 | ' | 5 |
Vesting period | ' | ' | '5 years |
Warrant [Member] | Exercise Price Range One [Member] | Maximum [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Exercise price of options/warrants | 17.5 | ' | 12 |
Vesting period | ' | ' | '10 years |
Warrant [Member] | Exercise Price Range Two [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Exercise price of options/warrants | 2.5 | ' | 12 |
Common shares issued for services | ' | ' | 57,173 |
Vesting period | ' | ' | '5 years |
Warrants granted during the period | ' | ' | 23,400 |
Common shares [Member] | ' | ' | ' |
Stock Options And Warrants (Textual) | ' | ' | ' |
Conversion of warrants to common shares during the period | ' | ' | 463,397 |
Related_Party_Convertible_Note1
Related Party Convertible Notes Payable (Details) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | 239 Months Ended | ||
Sep. 24, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |
Related party convertible notes payable (Textual) | ' | ' | ' | ' | ' | ' |
Borrowings from shareholder | ' | ' | ' | $6,800,000 | $2,130,000 | ' |
Unsecured note interest | 5.00% | ' | ' | ' | 5.00% | ' |
Unsecured notes conversion price | $2.50 | ' | ' | ' | ' | ' |
Common shares issued for conversion | 6,800,000 | ' | ' | 115,500 | 800,000 | ' |
Warrants issued for conversion of notes | 6,800,000 | ' | ' | ' | ' | ' |
Unsecured note, maturity date | 31-Dec-13 | 26-Feb-15 | ' | ' | 22-Dec-12 | ' |
Converted outstanding notes accrued interest | ' | 33,000 | ' | 105,000 | 2,206,278 | ' |
Common shares and warrants issued for debt conversions, share | ' | ' | ' | 115,500 | ' | ' |
Common shares and warrants issued for debt conversions | ' | ' | ' | ' | 289,975 | ' |
Short term related party notes | ' | ' | ' | 240,000 | ' | 240,000 |
Short term debt repaid | ' | ' | ' | 563,800 | ' | ' |
Short term debt, due | ' | ' | ' | 100,000 | ' | 100,000 |
Due to related parties | ' | ' | ' | ' | 500,000 | ' |
Amortization of debt discounts | ' | ' | 45,421 | 45,421 | 3,653,530 | 12,175,705 |
Principal repayments on debt | ' | ' | 1,725,000 | 1,725,000 | 300,000 | 7,475,000 |
Warrants purchase price | $1 | ' | ' | ' | ' | ' |
Warrants exercisable term | ' | ' | ' | '5 years | ' | ' |
Common Stock [Member] | ' | ' | ' | ' | ' | ' |
Related party convertible notes payable (Textual) | ' | ' | ' | ' | ' | ' |
Common shares and warrants issued for debt conversions, share | 76,200 | ' | ' | ' | ' | ' |
Warrant [Member] | ' | ' | ' | ' | ' | ' |
Related party convertible notes payable (Textual) | ' | ' | ' | ' | ' | ' |
Common shares and warrants issued for debt conversions, share | 76,200 | ' | ' | ' | ' | ' |
Related Party Notes Payable [Member] | ' | ' | ' | ' | ' | ' |
Related party convertible notes payable (Textual) | ' | ' | ' | ' | ' | ' |
Converted outstanding notes accrued interest | ' | ' | ' | 105,000 | ' | ' |
Common shares and warrants issued for debt conversions, share | ' | ' | ' | 115,500 | ' | ' |
Common shares and warrants issued for debt conversions | ' | ' | ' | 57,915 | ' | ' |
Amortization of debt discounts | ' | ' | ' | ' | 2,239,020 | ' |
Principal repayments on debt | ' | ' | ' | ' | $630,000 | ' |
Convertible_Notes_Payable_Deta
Convertible Notes Payable (Details) (USD $) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 24, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Converted Notes Payable (Textual) | ' | ' | ' | ' |
Short-term debt outstanding | ' | $600,000 | $100,000 | ' |
Borrowings from investors | ' | ' | 6,800,000 | 2,130,000 |
Unsecured note interest | 5.00% | ' | ' | 5.00% |
Unsecured notes conversion price | $2.50 | ' | ' | ' |
Common shares issued for conversion | 6,800,000 | ' | 115,500 | 800,000 |
Warrants issued for conversion of notes | 6,800,000 | ' | ' | ' |
Debt Instrument, Maturity Date | 31-Dec-13 | 26-Feb-15 | ' | 22-Dec-12 |
Warrants exercisable term | ' | ' | '5 years | ' |
Warrants purchase price | $1 | ' | ' | ' |
Convertible Notes Payable [Member] | ' | ' | ' | ' |
Converted Notes Payable (Textual) | ' | ' | ' | ' |
Short-term debt outstanding | ' | ' | 2,432,500 | ' |
Convertible Notes Payable [Member] | UTCH [Member] | ' | ' | ' | ' |
Converted Notes Payable (Textual) | ' | ' | ' | ' |
Common shares issued for conversion | 4,557,000 | ' | ' | ' |
Warrants issued for conversion of notes | 4,557,000 | ' | ' | ' |
Debt Instrument, Maturity Date | 31-Dec-13 | ' | ' | ' |
Convertible Notes Payable [Member] | GPEC [Member] | ' | ' | ' | ' |
Converted Notes Payable (Textual) | ' | ' | ' | ' |
Borrowings from investors | ' | ' | $2,124,500 | ' |
Unsecured note interest | 5.00% | ' | ' | ' |
Unsecured notes conversion price | $2.50 | ' | ' | ' |
Warrants purchase price | $1 | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Details) (USD $) | Dec. 31, 2013 |
Schedule of future minimum lease payments | ' |
2014 | $82,899 |
2015 | 85,256 |
2016 | 87,614 |
2017 | 89,971 |
2018 | $84,634 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Details Textual) (USD $) | 12 Months Ended | |
Dec. 31, 2013 | Dec. 31, 2012 | |
Commitments and Contingencies (Textual) | ' | ' |
Rent expense | $4,476 | $15,608 |
Lease agreement [Member] | ' | ' |
Commitments and Contingencies (Textual) | ' | ' |
Rent expense | $3,689 | ' |
Term of lease agreement | '60 months | ' |
Income_Taxes_Details
Income Taxes (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Components of Deferred Tax Assets and Liabilities [Abstract] | ' | ' |
Net operating losses | $17,300,000 | $14,700,000 |
Less: valuation allowance | -17,300,000 | -14,700,000 |
Net deferred tax assets | ' | ' |
Income_Taxes_Details_Textual
Income Taxes (Details Textual) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Income Taxes (Textual) | ' |
Net operating loss carry forwards | $51,000,000 |
Expiration period | 31-Dec-16 |
Subsequent_Events_Details
Subsequent Events (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2014 | |
Subsequent Events (Textual) | ' | ' | ' |
Number of units sold | 426,000 | 43,250 | ' |
Sale of stock and warrant, per share price | $1.25 | $10 | $1.25 |
Sale of units of common share and warrants, amount | $532,500 | $428,500 | ' |
Warrants exercisable term | '5 years | ' | ' |
Subsequent Event [Member] | ' | ' | ' |
Subsequent Events (Textual) | ' | ' | ' |
Number of units sold | 112 | ' | ' |
Sale of stock and warrant, per share price | $1.25 | ' | ' |
Sale of units of common share and warrants, amount | $140,000 | ' | ' |
Warrants exercisable term | '5 years | ' | ' |
Warrants issued price per share | $2.50 | ' | ' |