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DERIVATIVE LIABILITIES (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2013 and December 31, 2012:
 
 
6/30/13
 
12/31/12
Common stock warrants
 $2,949,146
 
 $6,626,255
Embedded conversion features for
     
  convertible debt or preferred shares
 -
 
 1,399,126
       
Total
 $2,949,146
 
 $8,025,381
       
Beginning balance
 $8,025,381
 
 $11,031,432
Bifurcated amount
 -
 
 -
Change in derivative liability valuation
 (497,187)
 
 1,514,156
Change in derivative liability - settlements
 (4,579,048)
 
 (4,520,207)
       
Total
 $2,949,146
 
 $8,025,381