CONVERTIBLE PROMISSORY NOTES AND WARRANTS (Tables)

9 Months Ended

Sep. 30, 2012

CONVERTIBLE PROMISSORY NOTES AND WARRANTS [Abstract]

Schedule of Convertible Promissory Note

	As of September 30, 2012		As of December 31, 2011
Gross carrying value	$	5,000,000	$	5,000,000
Less: Allocated intrinsic value of beneficial conversion feature		(3,598,452)		(1,447,745	)
Add: Accumulated amortization of debt discount		491,477		1,259,825
		1,893,025		4,812,080
Less: Current portion		-		(4,812,080	)
Non-current portion	$	1,893,025	$	-

Schedule of Amortization of Deferred Charges and Debt Discount

	Three Months Ended				Nine Months Ended
	September 30, 2012		September 30, 2011		September 30, 2012		September 30, 2011
Conversion Features	$	265,730	$	128,910	$	679,397	$	375,248
Deferred Charges		-		20,310		31,692		60,853
Total	$	265,730	$	149,220	$	711,089	$	436,101