SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)

12 Months Ended

Dec. 31, 2012

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) [Abstract]

The following table contains condensed information from the Company's Consolidated Statements of Operations for each quarter of the years ended December 31, 2012 and 2011. We have derived this data from its unaudited quarterly financial statements. We believe that the following information reflects all normal recurring adjustments necessary for a fair presentation of the information for the periods presented. The operating results for any quarter are not necessarily indicative of results for any future period.

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
2012
Revenues	$	60,005		$	56,211		$	88,922		$	165,456
Costs and expenses		879,717			884,289			837,149			1,034,259
Operating (loss)		(819,712	)		(828,078	)		(748,227	)		(868,803	)
Other income (expense)		(23,697	)		(30,068	)		(103,498	)		(109,266	)
Net (loss)	$	(843,409	)	$	(858,146	)	$	(851,725	)	$	(978,069	)
Less preferred stock dividends		(10,726	)		(12,154	)		(12,288	)		(12,288	)
Net (loss) allocable to common stockholders	$	(854,135	)	$	(870,300	)	$	(864,013	)	$	(990,357	)

Basic and diluted net (loss) per common share	$	(0.11	)	$	(0.11	)	$	(0.10	)	$	(0.10	)


2011
Revenues	$	75,171		$	80,186		$	73,652		$	255,527
Costs and expenses		1,227,979			1,083,451			1,092,506			1,094,733
Operating (loss)		(1,152,808	)		(1,003,265	)		(1,018,854	)		(839,206	)
Other income (expense)		(8,815	)		(9,851	)		(20,688	)		(16,605	)
Net (loss)	$	(1,161,623	)	$	(1,013,116	)	$	(1,039,542	)	$	(855,811	)
Less preferred stock dividends		---			---			(462	)		(3,925	)
Net (loss) allocable to common stockholders	$	(1,161,623	)	$	(1,013,116	)	$	(1,040,004	)	$	(859,736	)

Basic and diluted net (loss) per common share	$	(0.20	)	$	(0.17	)	$	(0.18	)	$	(0.13	)