FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2012

Fair Value Measurements Tables

Assets and liabilities measured at fair value on a recurring basis

The following tables provide information on those assets and liabilities measured at fair value on a recurring basis as of December 31, 2012 and 2011, respectively.

	Carrying Amount In Balance Sheet December 31,		Fair Value December 31,		Fair Value Measurement Using
	2012		2012		Level 1		Level 2		Level 3
Assets:
Money Market Funds	$	1,338,000	$	1,338,000	$	1,338,000	$	—	$	—
Liabilities:
Warrant liability	$	—	$	—	$	—	$	—	$	—

	Carrying Amount In Balance Sheet December 31		Fair Value December 31		Fair Value Measurement Using
	2011		2011		Level 1		Level 2		Level 3
Assets:
Money Market Funds	$	645,000	$	645,000	$	645,000	$	—	$	—
Treasury Bills	$	840,000	$	840,000	$	840,000	$	—	$	—
Total Assets:	$	1,485,000	$	1,485,000	$	1,485,000	$	—	$	—
Liabilities:
Warrant liability	$	71,000	$	71,000	$	—	$	—	$	71,000

Level 3 Derivative Assets and Liabilities at Fair Value

Level 3 Derivative Assets and Liabilities at Fair Value for the Year Ended December 31, 2012

Balance, beginning of year		Net realized gains/ (losses)		Net unrealized gains/(losses) relating to instruments still held at year-end		Purchases		Sales		Modification on warrants to change to equity		Transfers into level 3		Transfers out of level 3		Balance, end of year
$	71,000		-	$	60,000		-		-	$	10,000		-	$	1,000		-

Level 3 Derivative Assets and Liabilities at Fair Value for the Year Ended December 31, 2011

Balance, beginning of year		Net realized gains/ (losses)		Net unrealized gains/(losses) relating to instruments still held at year-end		Purchases		Sales		Modification on warrants to change to equity		Transfers into level 3		Transfers out of level 3		Balance, end of year
$	87,000		-	$	16,000		-		-		-		-		-	$	71,000