COMMITTMENTS (Tables)

9 Months Ended

Sep. 30, 2012

COMMITTMENTS [Abstract]

Summary of operating lease minimum annual rental payments

For the nine months ended September 30, 2012 and 2011, respectively, the Company recognized rent expense of $189,000 and $250,986. The future minimum annual rental payments and sub-lease income for the years ended December 31 under the lease terms are as follows:

Year Ended	Rentals
2012	$	63,000
2013		63,000
2014		-
2015		-
2016		-
	$	126,000