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Common Stock (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2013

Dec. 31, 2012

Notes to Financial Statements

Warrants outstanding and exercisable

Information with respect to warrants outstanding and exercisable at March 31, 2013 is as follows:

		Number Outstanding				Range of Exercise Price				Number Exercisable

Warrants outstanding, December 31, 2012			2,175,000			$	0.20-1.50				2,175,000
Issued			-
Exercised			-
Expired/Forfeited			(30,000)			$	0.50				-
Warrants outstanding, March 31, 2013			2,145,000			$	0.20-1.50				2,145,000

Information with respect to warrants outstanding and exercisable at December 31, 2012 is as follows:


		Number Outstanding				Range of Exercise Price				Number Exercisable

Warrants outstanding, December 31, 2011			1,690,000			$	0.50				1,690,000
Issued			515,000			$	0.20-1.50
Exercised			(30,000)			$	0.50
Forfeited			-				-				-
Warrants outstanding, December 31, 2012			2,175,000			$	0.20-1.50				2,175,000

Fair values of the Company's option awards

The grant date fair values of the Company’s option awards during the years ended December 31, 2012 and 2011 were estimated at $47,822 and $13,283 using the Black Scholes option pricing model with the following assumptions:

		For the Year ended				For the Year ended
		December 31, 2012				December 31, 2011
Expected life (years)			-				2
Risk – free interest rate			-				0.40	%
Expected volatility			-				178	%
Dividend Yield			-				0.00	%

		Number of Options				Weighted Average Exercise Price
Balance at December 31, 2011			360,000			$	0.50
Granted			-				-
Exercised			-				-
Forfeited			(360,000)				0.50
Balance at December 31, 2012			-				-
Options exercisable at December 31, 2012			-			$	0.50

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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