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STOCKHOLDERS EQUITY (Tables)

6 Months Ended

Jun. 30, 2012

STOCKHOLDERS EQUITY (Tables)

Summary of status of Warrants

A summary of the status of the warrants granted for the six month period ended June 30, 2012 and for the year ended December 31, 2011 and changes during the periods then ended is presented below:

For the Year Ended December 31, 2011									For the Six Months Ended June 30, 2012
		Shares				Weighted Average Exercise Price					Shares				Weighted Average Exercise Price
Outstanding at beginning of period			3,230,369			$	1.07		Outstanding at beginning of period			8,938,668			$	0.82
Granted			5,708,299				0.68		Granted			500,000				0.60
Exercised			-				-		Exercised			-				-
Forfeited			-				-		Forfeited			-				-
Expired			-				-		Expired			-				-
Outstanding at end of period			8,938,668			$	0.82		Outstanding at end of period			9,438,668			$	0.81

Summary of status of Warrants Outstanding and Exercisable

				As of June 30, 2012												As of June 30, 2012
				Warrants Outstanding												Warrants Exercisable
								Weighted-
								Average				Weighted-								Weighted-
Range of				Number				Remaining				Average				Number				Average
Exercise Prices				Outstanding				Contract Life				Exercise Price				Exercisable				Exercise Price

$	0.001				299,769				0.5			$	0.001				299,769			$	0.001
	0.25				200,000				3.3				0.25				200,000				0.25
	0.40				999,999				2.0				0.40				999,999				0.40
	0.50				2,694,450				2.0				0.50				2,694,450				0.50
	0.60				975,000				4.3				0.60				975,000				0.60
	0.75				200,000				3.3				0.75				200,000				0.75
	1.00				3,069,450				1.9				1.00				3,069,450				1.00
	2.00				1,000,000				0.5				2.00				1,000,000				2.00
$	0.001- 2.00				9,438,668				2.3			$	0.81				9,438,668			$	0.81

Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable.

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