Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2012

Fair Value Of Financial Instruments Tables

Items recorded or measured at fair value on a recurring basis

Items recorded or measured at fair value on a recurring basis in the accompanying unaudited condensed consolidated financial statements consisted of the following items as of June 30, 2012:

			Fair Value Measurements at June 30, 2012 using:
	June 30, 2012		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Liabilities:
Debt Derivative liabilities	$	42,069		-		-	$	42,069

Summary of changes in fair value of the Company's Level 3 financial liabilities

The following table provides a summary of changes in fair value of the Company’s Level 3 financial liabilities as of June 30, 2012:

	Debt Derivative  Liability
Balance, January 1, 2012	$	74,192
Initial fair value of debt derivatives at note issuances		-
Mark-to-market at June 30, 2012:
- Embedded debt derivatives		(32,123	)
Balance, June 30, 2012	$	42,069
Net gain for the period included in earnings relating to the liabilities held at June 30, 2012	$	32,123