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2. Summary of significant accounting policies (Tables)
6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
Investments and liabilities of the Company's financial assets measured and recorded at fair value

The following table presents certain investments and liabilities of the Company’s financial assets measured and recorded at fair value on the Company’s condensed consolidated balance sheets on a recurring basis and their level within the fair value hierarchy as of June 30, 2012 and 2011.

 

    Level 1       Level 2     Level 3     Total  
Fair value of Derivative Liability-June 30, 2012 -0-     -0-     $ 1,725,138     $ 1,725,138  
Fair value of Derivative Liability-December 31, 2011 -0-     -0-     $ 1,643,139     $ 1,643,139