ACQUISITION OF MIT (Tables)

12 Months Ended

Dec. 31, 2012

Business Acquisition [Abstract]

Summary of Consideration Transferred

 The following table summarizes the consideration transferred to acquire MIT at the acquisition date:

Fair Value of Consideration Transferred:

Common stock of Company	$	50,000
Contingent consideration		205,297
Total	$	255,297

Summary of Fair Values of Assets and Liabilities Assumed

The following table summarizes the fair values of the assets and liabilities assumed at the acquisition date.

Cash	$	829
Equipment and leasehold improvements		653,567
Patent		14,000
Trade and other payables		(59,282	)
Note payable		(700,000	)
Net liabilities assumed	$	(90,886	)
Goodwill		346,183
Total	$	255,297

Unaudited Pro forma Consolidated Financial Information

The following unaudited pro forma summary presents consolidated financial information of the Company as if the business combination had occurred on January 1, 2011:

Sales $6,790,685

Net Loss $ (6,496,313)