FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

9 Months Ended

Sep. 30, 2012

Notes to Financial Statements

Fair values of assets and liabilities measured on a non-recurring basis

The following tables provide a summary of the fair values of assets and liabilities measured on a non-recurring basis:

			Fair Value Measurements at
			September 30, 2012
	Carrying Value
	September 30, 2012		Level 1		Level 2		Level 3
Liabilities:
Convertible notes payable	$	62,625	$	-	$	-	$	62,625
Convertible notes payable, in default	$	87,000	$	-	$	-	$	87,000
Convertible notes payable *	$	100,000	$	-	$	-	$	100,000
Convertible notes payable, in default *	$	75,000	$	-	$	-	$	75,000

			Fair Value Measurements at
			December 31, 2011
	Carrying Value
	December 31, 2011		Level 1		Level 2		Level 3
Liabilities:
Convertible notes payable	$	69,898	$	-	$	-	$	69,898
Convertible notes payable *	$	75,000	$	-	$	-	$	75,000