BASIC AND DILUTED EARNINGS PER SHARE (Tables)

3 Months Ended

6 Months Ended

Jun. 30, 2012

Jun. 30, 2012

Schedule of Earnings Per Share Reconciliation [Table Text Block]

		Three Months Ended June 30,
		2012			2011
		(unaudited)			(unaudited)
Net loss available for common stock holders	$	(2,397,676	)	$	(3,073,418	)
Weighted average basic outstanding shares of common stock		114,631,186			113,483,661
Dilutive effect of warrants and stock options		-			-
Weighted average diluted outstanding shares of common stock		114,631,186			113,483,661
Loss per share:
Basic	$	( 0.02	)	$	( 0.03	)
Diluted	$	( 0.02	)	$	( 0.03	)

		Six Months Ended June 30,
		2012			2011
		(unaudited)			(unaudited)
Net loss available for common stock holders	$	(4,905,564	)	$	(5,350,798	)
Weighted average basic outstanding shares of common stock		114,475,722			113,397,048
Dilutive effect of warrants and stock options		-			-
Weighted average diluted outstanding shares of common stock		114,475,722			113,397,048
Loss per share:
Basic	$	( 0.04	)	$	( 0.05	)
Diluted	$	( 0.04	)	$	( 0.05	)