FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2013

FAIR VALUE MEASUREMENTS

Schedule of financial assets and liabilities recorded at fair value on a recurring basis

Description	March 31, 2013  Balance		Quoted Prices in  Active Markets  for Identical  Assets (Level 1)	Significant  Other  Observable  Inputs (Level 2)		Significant  Unobservable  Inputs (Level 3)
Assets:
Money market fund	$	28,452,314	—	$	28,452,314	—
Restricted cash	2,260,100		—	2,260,100		—
Total assets	$	30,712,414	—	$	30,712,414	—
Liabilities:
2013 Notes	$	8,169,215	—	$	8,169,215	—
Total liabilities	$	8,169,215	—	$	8,169,215	—

Description	December 31, 2012 Balance		Quoted Prices in  Active Markets  for Identical  Assets (Level 1)	Significant  Other  Observable  Inputs (Level 2)		Significant  Unobservable  Inputs (Level 3)
Assets:
Money market fund	$	34,210,555	—	$	34,210,555	—
Total assets	$	34,210,555	—	$	34,210,555	—
Liabilities:
2013 Notes	7,883,886		—	7,883,886		—
Total liabilities	$	7,883,886	—	$	7,883,886	—