NOTES PAYABLE (Tables)

6 Months Ended

Jun. 30, 2012

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

The following is a summary of notes payable:

	June 30, 2012						December 31, 2011
	Current portion, net		Non- current portion, net		Total		Current portion, net		Non- current portion, net		Total
Non-interest Bearing Note Payable, Net	$	—	$	—	$	—	$	200,000	$	—	$	200,000
Convertible 5% Notes Payable		—		4,395,100		4,395,100		—		4,664,697		4,664,697
ICON Convertible Note		677,778		—		677,778		677,778		—		677,778
Total	$	677,778	$	4,395,100	$	5,072,878	$	877,778	$	4,664,697	$	5,542,475

We assumed the preceding notes payable as the result of the Exchange Transaction. Accordingly, a valuation was performed and these notes have been presented at their fair value on the date of the transaction.