ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Subsidiary Company)

12 Months Ended

Dec. 31, 2011

Subsidiary Company

ACCOUNTS PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses consist of the following:

	December 31,
	2011	2010
Accounts payable	$1,488,400	$184,934
Accrued bonus and other employee
compensation	5,037,575	15,341,035
Other accrued expenses	127,006	463,190
	$6,652,981	$15,989,159