GAIN ON SALE (Tables)

9 Months Ended

Sep. 30, 2012

As a result of the Company's sale of certain assets pursuant to the Asset Purchase Agreement completed July 2, 2012 (see Note 1), the Company recorded a gain on sale for the three and nine months ended September 30, 2012 in the accompanying consolidated statement of operations as follows:

		Three and Nine Months Ended September 30, 2012
Gross Proceeds	$	15,000
Less: funds escrowed for contingencies		(1,000	)
Add: liabilities assumed by buyers – discontinued operations		6,642
Adjusted sales price		20,642

Less:
Expenses of sale		3
Carrying value of assets sold – continuing operations		1,596
Carrying value of assets sold – discontinued operations		2,329
		3,928
Gain on sale	$	16,714

- Definition

Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss).

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