TNA posted the following today on their website…

THE BOUND FOR GLORY SERIES: A COMPREHENSIVE GUIDE TO TNA'S ANNUAL POINT-BASED COMPETITION

Twelve IMPACT WRESTLING Superstars battle in grueling series of matches with the ultimate prize on the line - a World Championship Match in the main event at October's "Bound For Glory" Pay-Per-View spectacular, our biggest event of the year! The wrestler with the most points at the end of the Bound For Glory Series wins and advances to the Bound For Glory main event!

The 12 Competitors

Find out who will be in the 2012 Bound For Glory Series during the Gauntlet match at 8pm on Spike TV!

How to Get Points

Points are determined by wins and losses – how you win is equally as important!

Submission Victory – 10 points

Pinfall Victory – 7 points

Countout Victory – 5 points

Disqualification Victory – 3 points

Draw (Time Limit/Double Countout/Double Disqualification) – Two points

Disqualification Lose – you LOSE 10 points

The Type of Matches

Each wrestler will battle each other ONCE in the series! These matches will take place over IMPACT WRESTLING on Spike TV and on TNA's live event tours across the country, with the point structure outlined above.

Standings and How to Win!

The standings will be updated on ImpactWrestling.com. The standings will be "locked" on the September 6 edition of IMPACT WRESTLING on SpikeTV. The top point leaders advance to No Surrender PPV (9/9) for a one-night playoff to see who gets the Bound For Glory World Title Match!