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DERIVATIVE LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 2012
DERIVATIVE LIABILITIES [Abstract]  
Components of derivative financial instruments
The following tabular presentation reflects the components of derivative financial instruments on the Company's balance sheet at June 30, 2012 and December 31, 2011:
 
 
6/30/2012
 
 
12/31/2011
 
Common stock warrants
 
$
11,063,395
 
 
$
8,829,215
 
Embedded conversion features
 
 
 
 
 
 
 
 
  -part of note discount
 
 
2,807,411
 
 
 
2,202,217
 
 
 
 
 
 
 
 
 
Total
 
$
13,870,806
 
 
$
11,031,432
 
 
 
 
 
 
 
 
 
Beginning Balance
 
$
11,031,432
 
 
$
13,528,355
 
Bifurcated Amount
 
 
-
 
 
 
3,386,697
 
Change in Derivative Liability
 
 
2,887,993
 
 
 
(3,396,298
)
Change in Derivative Liability - Conversion
 
 
(48,619
)
 
 
(2,487,322
)
 
 
 
 
 
 
 
 
Total
 
$
13,870,806
 
 
$
11,031,432