Annual report pursuant to Section 13 and 15(d)

Bridge Financing, Notes Payable, Accrued Interest and Cash Payment Obligation (Tables)

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Bridge Financing, Notes Payable, Accrued Interest and Cash Payment Obligation (Tables)
 12 Months Ended
Dec. 31, 2014
Forfeiture rate  
Schedule of outstanding Bridge Notes
    December 31,  
    2014     2013  
Bridge notes payable   $ -     $ -  
Less unamortized discounts:     -       -  
VMCO     -       -  
ASID     -       -  
Bridge notes payable, net of discounts   $ -     $ -  
Summary of Notes Payable and Accrued Interest
    Notes Payable     Accrued Interest  
    December 31, 2014     December 31, 2013     December 31, 2014     December 31, 2013  
                                 
Unsecured (as amended) note payable due to our Company’s former Chief Executive Officer, interest accrues at the rate of 9% compounded annually, all amounts due and payable December 31, 2008.   $ -     $ 20,000     $ -     $ 16,943  
                                 
Note payable due to a trust, interest accrues at the rate of 10% per annum, all amounts due and payable December 31, 2006.     -       -       -       51,984  
                                 
Notes payable     -       20,000       -       16,943  
                                 
Totals   $ -     $ 20,000     $ -     $ 16,943  
Interest Expense
    December 31,  
    2014     2013  
Amortization of note discounts   $ -     $ 6,134,367  
Other interest expense     -       213,819  
    $ -     $ 6,348,186