Annual report pursuant to section 13 and 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v2.4.0.8
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
12 Months Ended
Dec. 31, 2013
Accounting Policies [Abstract]  
Schedule of Fair Value Assets

Investment measured at fair value on a recurring basis at December 31, 2013:

 

    Fair Value Measurements Using:  
   

Quoted Prices

in Active

Markets

(Level 1)

   

Significant

Other

Observable

Inputs

(Level 2)

   

Significant

Unobservable

Inputs

(Level 3)

 
                   
Marketable securities – available for sale, net of discount for effect of market illiquidity.   $ -     $ -     $ 6,250  
                         

 

Investment measured at fair value on a recurring basis at December 31, 2012:

    Fair Value Measurements Using:  
   

Quoted Prices

in Active

Markets

(Level 1)

   

Significant

Other

Observable

Inputs

(Level 2)

   

Significant

Unobservable

Inputs

(Level 3)

 
                   
Marketable securities – available for sale, net of discount for effect of market illiquidity.   $ -     $ -     $ 12,500  
                         

 

 

Schedule of Basic and Diluted Loss Per Share
             
   

For the year ended

December 31, 2013

   

For the year ended

December 31, 2012

 
             
Numerator:            
    Loss from continuing operations   $ (3,713,795 )   $ (5,527,637 )
    Income (loss) from discontinued operations   $ 263,460     $ (1,410,671 )
Denominator:                
    Denominator for basic and diluted loss per share (weighted-average shares)     4,604,193       2,787,593  
Income (loss) per common share, basic and diluted:                
    Loss from continuing operations   $ (0.81 )   $ (1.98 )
    Income (loss) from discontinued operations   $ 0.06     $ (0.51 )