EARNINGS PER COMMON SHARE (Tables)

12 Months Ended

Dec. 31, 2012

EARNINGS PER COMMON SHARE [Abstract]

Computation of Basic and Diluted Earnings Per Common Share

	December 31,			December 31,
	2012			2011
Net loss attributed to common shareholders	$	(6,735,281	)	$	(1,353,903	)
Denominator for basic earnings per share-weighted average shares outstanding		30,419,556			26,391,204
Effect of dilutive securities:
Warrants, restricted stock and options outstanding		-			-
Denominator for diluted earnings per common share - weighted average shares adjusted for dilutive securities		30,419,556			26,391,204
Income (loss) per common share - basic	$	(0.22	)	$	(0.05	)
Income (loss) per common share- diluted	$	(0.22	)	$	(0.05	)

Anti-Dilutive Securities Outstanding Excluded from Computation

	December 31,		December 31,
	2012		2011
Warrants		12,972,664		8,668,701
Convertible Debt Issued December 14, 2011 (number of shares including related warrants upon conversion of 3,061,034)		4,706,782		-
Convertible Debt Issued August 9, 2012 (number of shares including related warrants upon conversion of 371,000)		742,000		-
Restricted Stock		550,000		700,000
Options		465,000		35,000
		19,436,446		9,403,701