OPTIONS AND WARRANTS TO PURCHASE COMMON STOCK (Tables)

6 Months Ended

Jun. 30, 2013

OPTIONS AND WARRANTS TO PURCHASE COMMON STOCK [Abstract]

Summary of the Status of the Warrants Outstanding

A summary of the status of the warrants outstanding and exercisable at June 30, 2013 is presented below:

		Warrants Outstanding and Exercisable
Exercise  Price		Number Outstanding		Weighted Average  Remaining  Contractual Life	Weighted Average  Exercise Price
$	0.75		139,340	2.54 years	$	0.75
$	0.78		213,402	2.88 years	$	0.78
$	0.80		124,481	2.79 years	$	0.80
$	1.00		212,000	2.38 years	$	1.00
$	1.15		461,340	8.11 years	$	1.15
$	1.97		5,000,000	3.72 years	$	1.97
$	2.00		54,367	3.38 years	$	2.00
			6,204,930

Significant Assumptions Relating to the Valuation of Stock Options

The significant assumptions relating to the valuation of the Company's options issued for the six months ended June 30, 2013 and 2012 were as follows:

	2013			2012
Dividend Yield		0	%		0	%
Expected Life		5 - 10 years			5 -10 years
Expected Volatility		66 - 83	%		90.48	%
Risk Free Interest Rate		0.88%-2.57	%		1.74	%

Summary of the Status and Changes of the Options Granted Under the Stock Option Plans and Other Agreements

A summary of the status and changes of the options granted under stock option plans and other agreements for the six month period ended June 30, 2013 is as follows:

				Weighted
				Average
				Exercise
	Shares			Price
Outstanding at December 31, 2012		15,455,470		$	1.04
Issued		460,867			1.21
Exercised		--			--
Forfeited		(338,222	)	$	1.73
Outstanding at June 30, 2013		15,578,115		$	1.03

Summary of the Status of the Options Outstanding

A summary of the status of the options outstanding at June 30, 2013 is presented below:

Options Outstanding					Options Exercisable
		Weighted	Weighted				Weighted
		Average	Average				Average
Number		Remaining	Exercise		Number		Exercise
Outstanding		Contractual Life	Price		Exercisable		Price
	7,358,277	5.42years	$	0.70		7,358,277	$	0.70
	3,205,134	2.63 years	$	0.83		3,205,134	$	0.83
	60,000	1.69 years	$	1.00		60,000	$	1.00
	300,000	6.07 years	$	1.15		0	$	1.15
	100,000	4.66 years	$	1.24		100,000	$	1.24
	115,000	4.98-4.99 years	$	1.35		69,167	$	1.35
	125,000	4.66 years	$	1.45		125,000	$	1.45
	330,000	3.96-8.96 years	$	1.55		146,667	$	1.55
	7,645	4.66 years	$	1.58		7,645	$	1.58
	3,077,059	9.48-9.53 years	$	1.66		1,574,732	$	1.66
	900,000	8.21 years	$	1.90		550,000	$	1.90
	15,578,115		$	1.03		13,196,622	$	0.92