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STOCKHOLDERS' EQUITY (Tables)
12 Months Ended
Dec. 31, 2012
Stockholders' Equity Note [Abstract]  
Black Scholes Option Pricing Model One

Fair market value using the Black-Scholes option-pricing model was determined using the following assumptions:

 

Expected life (years)  4 
Risk free rate of return  2.5%
Dividend yield  0 
Expected volatility  378%
Black Scholes Option Pricing Model Two

Fair market value using the Black-Scholes option-pricing model was determined using the following assumptions:

 

Expected life (years)  1.75 
Risk free rate of return  0.75%
Dividend yield  0 
Expected volatility  218%
Black Scholes Option Pricing Model Three

Fair market value using the Black-Scholes option-pricing model was determined using the following assumptions:

 

Expected life (years)  2.25 
Risk free rate of return  0.27%
Dividend yield  0 
Expected volatility  125%
Summary of Common Stock Options Activity

A summary of common stock option activity is as follows:

 

  Shares Issuable
Under
Outstanding
Options
  Weighted
Average
Exercise
Price
 
       
Balance at December 31, 2011  -  $- 
Issued  197,600,000  $0.01 
Expired/forfeited  (7,000,000)  0.01 
Exercised  -   - 
Balance at December 31, 2012  190,600,000  $0.01 
Exercisable, December 31, 2012  95,300,000  $0.01 

 

Summary of Stock Warrants Outstanding

A summary of warrant activity based on common stock equivalents is as follows:

 

  Number of Shares  Exercise
 Price
  Weighted
 Average
 Exercise
 Price
 
Balance at December 31, 2010  195,833,338  $0.02-0.15  $0.06 
Warrants exercised  (40,000,000) $0.01-0.025  $0.01 
Warrants expired  (1,250,000) $0.02  $0.02 
Warrants issued with common and Series B Preferred stock in private placement  29,000,000  $0.01  $0.01 
Balance at December 31, 2011  183,583,338  $0.01-0.15   0.05 
Warrants exercised  -   -   - 
Warrants expired  (134,583,338) $0.01-0.03  $0.03 
Warrants issued with common and Series B Preferred stock in private placement  114,850,000  $0.01  $0.01 
Warrants issued with convertible debentures and notes payable  103,500,000  $0.01  $0.01 
Balance at December 31, 2012  267,350,000  $0.01-0.15  $0.03 
Summary of Outstanding Common Stock Warrants

All outstanding warrants are currently exercisable.  A summary of outstanding common stock warrants at December 31, 2012 follows:

 

Number of
Common Stock
Equivalents
  Expiration Date Remaining
Contractual Life
(Years)
  Exercise
Price
 
 4,000,000  (a)  -  $0.02 
 30,000,000  May 2013  0.39  $0.15 
 233,350,000  December 2013  1.00  $0.01-0.03 

  

(a) Warrants expire six months after the date on which a registration statement is filed and accepted by the Securities Exchange Commission permitting a sale of the shares issuable upon exercise of the warrant.