INCOME TAXES

12 Months Ended

Dec. 31, 2012

Income Tax Disclosure [Abstract]

INCOME TAXES

9. INCOME TAXES

The Company has not recognized an income tax benefit for its operating losses generated based on uncertainties concerning its ability to generate taxable income in future periods. The tax benefit for the periods presented is offset by a valuation allowance established against deferred tax assets arising from net operating losses and other temporary differences, the realization of which could not be considered more likely than not. In future periods, tax benefits and related deferred tax assets will be recognized when management considers realization of such amounts to be more likely than not. The Company currently has net operating loss carryforwards aggregating approximately $9,026,270, which expire through 2032. The Company’s deferred income tax assets have been fully reserved as follows as of December 31, 2012 and 2011.

	2012			2011
Deferred tax asset	$	3,068,932		$	2,944,545
Valuation allowance for deferred tax assets		(3,068,932	)		(2,944,545	)
Net deferred tax asset	$	–		$	–