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STOCK BASED COMPENSATION | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2013 | Dec. 31, 2012
STOCK BASED COMPENSATION [Abstract] |  |
STOCK BASED COMPENSATION | NOTE 7 - STOCK BASED COMPENSATION The Company uses the Black-Scholes option pricing model to calculate the grant-date fair value of an award, with the following assumptions for 2013: no dividend yield, expected volatility, based on the Company's historical volatility, 111% to 113%, risk-free interest rate 0.94% to 1.86% and expected option life of five to ten years in 2013. As of June 30, 2013, there was $545,282 of unrecognized compensation expense related to non-vested market-based share awards that is expected to be recognized through June 2015. The following tables summarize all stock option and warrant activity of the Company during the three months ended June 30, 2013:
|  | Non-Qualified Stock Options and Warrants Outstanding and Exercisable |
|  | Number of |  |  | Exercise |  |  | Weighted Average |
|  | Shares |  |  | Price |  |  | Exercise Price |
Outstanding, December 31, 2012 |  |  | 8,773,500 |  |  | $0.25 - $1.75 |  |  | $ | 1.13 |
Granted |  |  | 185,000 |  |  | $1.00 - $1.16 |  |  | $ | 1.07 |
Expired |  |  |  |  |  |  |  |  |  |  |
Forfeited |  |  | (343,750 | ) |  | $0.73 - $1.25 |  |  | $ | 0.95 |
Exercised |  |  | (32,500 | ) |  | $0.345 - $1.25 |  |  | $ | 0.69 |
Outstanding, June 30, 2013 |  |  | 8,582,250 |  |  | $0.25 - $1.75 |  |  | $ | 1.14 |
Exercisable, June 30, 2013 |  |  | 7,778,503 |  |  | $0.25 - $1.75 |  |  | $ | 1.16 |
Non-Qualified Stock Options and Warrants Outstanding
|  | Number Outstanding |  | Weighted Average |  | Weighted Average
Range of |  | Currently Exercisable |  | Remaining |  | Exercise Price of Options and
Exercise Prices |  | at June 30, 2013 |  | Contractual Life |  | Warrants Currently Exercisable
$0.25 - $1.75 |  | 7,778,503 |  | 2.51 Years |  | $1.16
| NOTE 8 - STOCK BASED COMPENSATION The Company uses the Black-Scholes option pricing model to calculate the grant-date fair value of an award, with the following assumptions for 2012 and 2011: no dividend yield in both years, expected volatility, based on the Company's historical volatility, between 77% and 217% in 2012 and between 115% and 125% in 2011, risk-free interest rate between 0.13% and 2.26% in 2012 and between 0.82% and 2.15% in 2011 and expected option life of two to ten years in 2012 and three to five years in 2011. As of December 31, 2012, there was $829,247 of unrecognized compensation expense related to non-vested market-based share awards that is expected to be recognized through December 2014. The following tables summarize all stock option and warrant activity of the Company since December 31, 2004:
|  | Non-Qualified Stock Options and Warrants Outstanding and Exercisable
|  | Number of |  | Exercise |  | Weighted Average
|  | Shares |  | Price |  | Exercise Price
Outstanding, December 31, 2004 |  | - |  | $ - |  | $ -
Granted |  | 680,000 |  | $0.25 - $2.10 |  | $ 0.99
Exercised |  | (300,000) |  | $ 0.25 |  | $ 0.25
Outstanding, December 31, 2005 |  | 380,000 |  | $1.40 - $2.10 |  | $ 0.68
Granted |  | 1,425,000 |  | $0.25 - $1.00 |  | $ 0.70
Cancelled |  | (260,000) |  | $1.40 - $2.10 |  | $ (0.48)
Expired |  | (70,000) |  | $1.40 - $2.00 |  | $ (0.12)
Outstanding, December 31, 2006 |  | 1,475,000 |  | $0.25 - $2.00 |  | $ 0.83
Granted |  | 5,768,971 |  | $0.25 - $0.72 |  | $ 0.48
Rescinded |  | (200,000) |  | $ 0.50 |  | $ 0.50
Forfeited |  | (125,019) |  | $ 1.00 |  | $ 1.00
Expired |  | (574,981) |  | $ 1.00 |  | $ 1.00
Outstanding, December 31, 2007 |  | 6,343,971 |  | $0.25 - $2.00 |  | $ 0.48
Granted |  | 3,495,001 |  | $0.001 - $1.75 |  | $ 1.16
Expired |  | (115,000) |  | $0.50 - $2.00 |  | $ 0.07
Forfeited |  | (750,000) |  | $ 0.72 |  | $ 0.72
Exercised |  | (807,770) |  | $0.25 - $0.50 |  | $ 0.53
Outstanding, December 31, 2008 |  | 8,166,202 |  | $0.001 - $1.75 |  | $ 0.79
Granted |  | 939,000 |  | $0.25 - $0.45 |  | $ 0.30
Expired |  | (1,304,451) |  | $0.25 - $1.00 |  | $ 0.59
Forfeited |  | - |  |  |  |
Exercised |  | (1,488,384) |  | $0.001 - $1.00 |  | $ 0.20
Outstanding, December 31, 2009 |  | 6,312,367 |  | $0.25 - $1.75 |  | $ 0.71
Granted |  | 1,860,000 |  | $0.25 - $1.51 |  | $ 1.20
Expired |  | (16,667) |  | $ 1.00 |  | $ 1.00
Forfeited |  | - |  | - |  | -
Exercised |  | (1,279,700) |  | $0.25 - $1.00 |  | $ 0.42
Outstanding, December 31, 2010 |  | 6,876,000 |  | $0.25 - $1.75 |  | $ 1.01
Granted |  | 2,085,000 |  | $0.63 - $1.30 |  | $ 1.09
Expired |  | - |  | - |  | -
Forfeited |  | (162,500) |  | $ 1.51 |  | $ 1.51
Exercised |  | - |  | - |  | -
Outstanding, December 31, 2011 |  | 8,798,500 |  | $0.25 - $1.75 |  | $ 1.02
Granted |  | 1,210,000 |  | $0.90 - $1.69 |  | $ 1.19
Expired |  | (25,000) |  | $ 1.25 |  | $ 1.25
Forfeited |  |  |  | - |  | -
Exercised |  | (1,210,000) |  | $0.25 - $1.25 |  | $ 0.37
Outstanding, December 31, 2012 |  | 8,773,500 |  | $0.25 - $1.75 |  | $ 1.13
Exercisable, December 31, 2012 |  | 7,714,850 |  | $0.25 - $1.75 |  | $ 1.15
Non-Qualified Stock Options and Warrants Outstanding
|  | Number Outstanding |  | Weighted Average |  | Weighted Average
Range of |  | Currently Exercisable |  | Remaining |  | Exercise Price of Options and
Exercise Prices |  | at December 31, 2012 |  | Contractual Life |  | Warrants Currently Exercisable
$0.25 - $1.75 |  | 7,714,850 |  | 2.71 |  | $ 1.15

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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5047-113901 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5070-113901 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6406099&loc=d3e25284-112666 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 40 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6418621&loc=d3e17540-113929 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=6415400&loc=d3e5444-113901 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 14 + Details
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