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FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Disclosures [Abstract]

Fair Value Liabilities Measured On Recurring And Nonrecurring Basis [Table Text Block]

The following table provides the fair value measurements of applicable financial liabilities as of December 31, 2011 and June 30, 2012:

		Financial liabilities at fair value as of December 31, 2011
		Level 1				Level 2				Level 3				Total

5% Notes		$	—			$	—			$	4,664,697			$	4,664,697
Totals		$	—			$	—			$	4,664,697			$	4,664,697

		Financial liabilities at fair value as of June 30, 2012
		Level 1				Level 2				Level 3				Total

5% Notes		$	—			$	—			$	4,395,100			$	4,395,100
Totals		$	—			$	—			$	4,395,100			$	4,395,100

Change In Level Three Fair Value During Period [Table Text Block]

The following table summarizes the changes in Level 3 instruments during the six months ended June 30, 2012:

Fair value at December 31, 2011		$	4,664,697
Interest accrued on face value of 5% Notes			418,256
Change in fair value of Level 3 liabilities			(687,853	)
Fair value at June 30, 2012		$	4,395,100

Tabular disclosure of liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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