Hows this diet sound?

That's bad. It's unsafe to put yourself on any diet in which you take in less than your body burns at rest, which would be 1200-1300 calories per day, as you said. That is the absolute minimum you should ever take in, even if you're being very lazy. If you have a normal activity level, you will be burning a bit more than that a day, let alone when you add in exercise. Whatever your source is, it's incomplete. You SHOULD naturally be burning more like 1500-1800 calories a day. Up your cardio exercise a little, making sure you keep your heartrate elevated for at least 30 minutes at a time daily, and you should burn 1-2 lbs per week at around 1400 calories per day.