COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2013

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 9 - COMMITMENTS AND CONTINGENCIES

Commitments

The following table summarizes our contractual obligations as of June 30, 2013 that require us to make future cash payments:

	Payment due by period
	Total		< 1 year		1 - 3 years		3 - 5 years		> 5 years
Contractual Obligations:
Rent obligations	$	204,866	$	135,908	$	68,958		--		--
Capital Purchase Obligations (1)		1,581,840		1,581,840		--		--		--
Total	$	1,786,706	$	1,717,748	$	68,958		--		--

 (1) Capital purchase obligations represent commitments for the construction or purchase of property, plant and equipment. They were not recorded as liabilities on our consolidated balance sheet as of June 30, 2013, as we had not yet received the related goods or taken title to the property.

Contingencies

In accordance with ASC Topic 450, when applicable, the Company records accruals for contingencies when it is probable that a liability will be incurred and the amount of loss can be reasonably estimated.  Currently, we have no lawsuits, claims, proceedings and investigations pending involving us.