INCOME TAXES

12 Months Ended

Dec. 31, 2011

INCOME TAXES [Abstract]

INCOME TAXES

During 2011 and 2010, the Company incurred net losses, and therefore had no tax liability.  The net deferred tax asset generated by the loss carry forward has been fully reserved.  The cumulative net loss carry forward is approximately $80,416,255 and $75,736,602 for the years ended December 31, 2011 and 2010 respectively, and will expire in the years 2019 through 2030.

At December 31, 2011, the net deferred tax asset consisted of the following:

Net Operating Loss	$     27,341,527
Less: Valuation allowance	(27,341,527)
Net Deferred tax asset	$                      -

After evaluating our own potential tax uncertainties, the Company has determined that there are no material uncertain tax positions that have a greater than 50% likelihood of reversal if the Company were to be audited.  Our tax return for the year ended December 31, 2011 may be subject to IRS audit.