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COMMITMENTS AND CONTINGENCIES (Tables)

12 Months Ended

Dec. 31, 2012

COMMITMENTS AND CONTINGENCIES [Abstract]

The future minimum lease payments under the 2006 office lease and the 2010 equipment lease are as follows as of December 31, 2012:

Calendar Years	Future Lease Expense
2013	$	38,542
2014		8,926
2015		744
2016		---
2017		---
Total	$	48,212

Summary of compensation earned, compensation paid in cash, and compensation temporarily deferred

The following table summarizes the compensation temporarily deferred during 2012 and 2011:

Name	2012			2011		Total
Kerry P. Gray	$	220,673		$	140,313	$	360,986
Terrance K. Wallberg	$	24,230		$	36,539	$	60,769
Renaat Van den Hooff (1)	$	( 30,769	)	$	30,769	$	---
Key executives	$	27,253		$	20,986	$	48,239

(1) During 2011, Mr. Van den Hooff temporarily deferred compensation of $30,769 earned pursuant to a Separation Agreement with such amount being repaid to Mr. Van den Hooff in 2012.

- Definition

Tabular disclosure of a lessee's leasing arrangements including: (1) the basis on which contingent rental payments are determined, (2) the existence and terms of renewal or purchase options and escalation clauses, (3) restrictions imposed by lease arrangements, such as those concerning dividends, additional debt, and further leasing, (4) rent holidays, rent concessions, or leasehold improvement incentives and unusual provisions or conditions. Disclosure may also include the specific period used to amortize material leasehold improvements made at the inception of the lease or during the lease term. Additionally, for operating leases having initial or remaining noncancelable lease terms in excess of one year: (a) future minimum rental payments required as of the date of the latest balance sheet presented, in the aggregate and for each of the five succeeding fiscal years, (b) the total of minimum rentals to be received in the future under noncancelable subleases as of the date of the latest balance sheet presented, and (c) for all operating leases, rental expense for each period for which an income statement is presented, with separate amounts for minimum rentals, contingent rentals, and sublease rentals. Rental payments under leases with terms of a month or less that were not renewed need not be included.

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