FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2013

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
			March 31, 2013
	Carrying Value
	March 31, 2013		Level 1		Level 2		Level 3
Liabilities:
Convertible notes payable *	$	100,000	$	-	$	-	$	100,000
Convertible notes payable	$	60,826	$	-	$	-	$	60,826
			Fair Value Measurements at
			December 31, 2012
	Carrying Value
	December 31, 2012		Level 1		Level 2		Level 3
Liabilities:
Convertible notes payable, in default	$	50,000	$	-	$	-	$	50,000
Convertible notes payable *	$	100,000	$	-	$	-	$	100,000