NOTES PAYABLE AND LONG TERM DEBT (Tables)

12 Months Ended

Dec. 31, 2012

Stock Warrants [Abstract]

Analysis of Debentures Payable

Following is an analysis of debentures payable at December 31:

	2012		2011
Stated value of debentures payable	$	400,000	$	400,000
Less: unamortized value of warrants issued		28,912		85,720
	$	371,088	$	314,280

Weighted Average Estimated Fair Value of Warrant Issued

The weighted-average estimated fair value of the warrants issued with the convertible and secured notes was $0.62 and $0.81 per share, respectively, using the Black-Sholes pricing model with the following assumptions:

	Convertible			Secured
Description	Note			Note
Expected volatility		128	%		133	%
Risk-free interest rate		0.31	%		0.36	%
Expected life		2 years			3 years
Dividend yield		0	%		0	%

Activity Related To Secured Note

The following table provides an analysis of activity related to the convertible and secured notes for the year ended December 31, 2012:

	Convertible			Secured
Description	Note			Note
Proceeds received on issuance of notes in 2012	$	500,000		$	1,000,000
Discount allocated to warrants		(46,716	)		(212,598	)
Note balances after discount		453,284			787,402
Accretion of discount to interest expense		11,679			30,000
Note balances at December 31, 2012	$	464,963		$	817,402
Total allocated to additional paid in capital	$	46,716		$	212,598
Unamortized discount at December 31, 2012	$	35,037		$	182,598
Contractual interest expense for 12 months ended  at December 31, 2012	$	30,000		$	40,000
Effective interest rate on notes		17.3	%		19.1	%

Maturities of Long-term Debt

The following table provides a listing of the future maturities of long-term debt:

	Contractual		Principal
	Amounts		Amounts
Year	Due		Due
2013	$	400,000	$	257,576
2014		500,000		453,284
2015		1,050,000		837,402
Total	$	1,950,000	$	1,548,262