WARRANTS, STOCK OPTIONS AND STOCK BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2013

WARRANTS, STOCK OPTIONS AND STOCK BASED COMPENSATION [Abstract]

The table below summarizes the Company's outstanding warrants at March 31, 2012. On October 2, 2012, the Enerfund and TGR Capital warrants were exercised in connection with the Company's merger with Net Element (see Note 4). Felix Vulis' warrants were cancelled on October 2, 2012 pursuant to the Company's merger agreement with Net Element.

	# Warrants Granted		Wtd. Avge Exercise Price		Wtd. Avge Contract Term
Enerfund, LLC and TGR Capital, LLC		5,000,000	$	2.00	3.31 years
Felix Vulis		16,667	$	10.00	2.92 years
Felix Vulis		16,667	$	20.00	2.92 years
Felix Vulis		16,667	$	40.00	2.92 years

- Definition

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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