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SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2012
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	8. SUBSEQUENT EVENTS On July 10, 2012, the Company authorized a Common Stock repurchase plan structured to comply with Rules 10b5-1 and 10b-18 under the Securities Exchange Act of 1934.  Under the plan, open market purchases could have commenced August 1, 2012 and may continue until August 1, 2014 at the latest, subject to Rule 10b-18 limitations as well as certain price and market value constraints specified in the plan.  Rule 10b-18 timing and price limitations prevented purchases from commencing on August 1, 2012.  Notwithstanding the terms of the plan, the exact number of shares which may be purchased pursuant to the plan is difficult to predict given the current market in the Company’s Common Stock. On July 10, 2012, the chief executive officer of the Company exercised a portion of his stock option.  The Company issued 2,000,000 shares of Common Stock to him at an exercise price of $0.81 (aggregate consideration of $1,620,000). On July 10, 2012, the Company declared dividends to holders of its Series I Class B and Series II Class B Convertible Preferred Stock in the amounts of $38,813 and $134,025, respectively. The dividend amount is $0.375 per share for Series I Class B shareholders and $0.75 per share for Series II Class B shareholders. Dividends have accrued at 10% per annum and cover amounts in arrears from September 30, 2011 through date of conversion or June 30, 2012, whichever is applicable. The dividends were paid on July 31, 2012 to shareholders of record as of the close of business on July 21, 2012.

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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

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