Acquisition of Bestewil (Tables)

12 Months Ended

Dec. 31, 2012

Acquisition of Bestewil [Abstract]

Fair Value Assumptions

Since the Company reduced the conversion price of the Bridge Loan to finance the acquisition from $0.80 to $0.50 in September 2010, the result is that the option now allows NIL to acquire 19,218,450 shares of common stock. Prior to this, the option allowed NIL to acquire 12,011,531 shares of common stock at $0.80 per share. The difference between the fair value calculation of the option at the original exercise price of $0.80 and the now established $0.50 per share is E484 and has been recorded as a general and administrative expense and an increase in additional paid-in capital. The fair values were calculated with standard Black Scholes methodology using the following assumptions:

Risk free interest rate		0.38	%
Expected dividends		0	%
Expected term	1.5 years
Volatility		131.92	%