| DERIVATIVE LIABILITY |
| |
December 31, 2012 | |
December 31, 2011 |
| Conversion feature: | |
| |
|
| Risk-free interest rate | |
0.01 % to 0.27% | |
0.25% |
| Expected volatility | |
100% | |
100% |
| Expected life (in years) | |
0 -2 years | |
2 years |
| Expected dividend yield | |
0% | |
0% |
| | |
| |
|
| Warrants: | |
| |
|
| Risk-free interest rate | |
– | |
0.88% |
| Expected volatility | |
– | |
100% |
| Expected weighted average life (in years) | |
– | |
0.1 to 5 years |
| Expected dividend yield | |
– | |
0% |
| | |
| |
|
| Fair Value : | |
| |
|
| Conversion feature | |
$199,027 | |
$291,163 |
| Warrants | |
– | |
3,388,583 |
| | |
$199,027 | |
$3,679,746 |
|