Quarterly report pursuant to sections 13 or 15(d)

12. Fair Value Measurements (Tables)

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12. Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Assets and liabilities measured at fair value on a recurring basis

 

We measure certain financial instruments at fair value on a recurring basis. Assets and liabilities measured at fair value on a recurring basis are as follows at June 30, 2013:

 

    Total     (Level 1)     (Level 2)     (Level 3)  
                         
Assets   $ –     $ –     $ –     $ –  
                                 
Total assets measured at fair value     –       –       –       –  
                                 
Liabilities                                
                                 
Derivative Liability     58,205       –       –       58,205  
Convertible Debenture, net of discount     677,097       –       –       677,097  
Total liabilities measured at fair value   $ 735,302     $ –     $ –     $ 735,302