Stockholders' Equity (Tables)

12 Months Ended

Dec. 31, 2012

Shares of Common Stock in Satisfaction of Previously Accrued Liabilities

• In June 2012, the Company issued an aggregate of 215,325 shares of common stock in satisfaction of previously accrued liabilities as follows:

	Number of		Valuation
	Shares		Price		Amount
Board of Director fees:
Fees for second quarter of 2011		5,769	$	5.20	$	30,000
Fees for third quarter of 2011		10,000	$	3.00		30,000
Fees for fourth quarter of 2011		22,058	$	1.36		30,000
Fees for first quarter of 2012		27,778	$	1.08		30,000
Related party executive, administrative & operational services
Fees for January 2012		11,538	$	1.30		15,000
Fees for February 2012		12,500	$	1.20		15,000
Fees for March 2012		13,890	$	1.08		15,000
Fees for April 2012		13,042	$	1.15		15,000
Related party consulting services in June 2012		85,000	$	0.59		50,000
Accrued interest on unrelated party notes payable		7,750	$	1.35		10,463
Unrelated party consulting		6,000	$	1.08		6,480
Total		215,325	$	0.59	$	246,943