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DERIVATIVE LIABILITIES (Tables)
 3 Months Ended
Mar. 31, 2013
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 March 31, 2013 and December 31, 2012:
 
 
3/31/2013
 
 
12/31/2012
 
Common stock warrants
 
$
8,271,092
 
 
$
6,626,255
 
Embedded conversion features for convertible debt or preferred shares
 
 
-
 
 
 
1,399,126
 
Total
 
$
8,271,092
 
 
$
8,025,381
 
 
 
 
 
 
 
 
 
Beginning balance
 
$
8,025,381
 
 
$
11,031,432
 
Bifurcated amount
 
 
-
 
 
 
-
 
Change in derivative liability valuation
 
 
4,418,050
 
 
 
1,514,156
 
Change in derivative liability - settlements
 
 
(4,172,339
)
 
 
(4,520,207
)
Total
 
$
8,271,092
 
 
$
8,025,381