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FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2013

The following table summarizes the fair value of our financial instruments at March 31, 2013 and December 31, 2012.

Description	March 31, 2013		December 31, 2012
Assets:
Notes receivable and accrued interest	$	1,061,776	$	1,302,220

Liabilities:
Convertible note – June 2011	$	135,198	$	134,154
Convertible note – July 2011	$	115,028	$	113,084
Convertible note – June 2012	$	1,423,633	$	1,593,924

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

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+ Details