• Filing Date: 2013-11-12
  • Form Type: 10-Q
  • Description: Quarterly report
v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2013
Dec. 31, 2012
CURRENT ASSETS    
Cash and cash equivalent $ 181,932 $ 135,626
Accounts receiveable 246,740 267,116
Prepaid Expense 1,417 1,417
Total current assets 430,089 404,159
Fixed assets, net 1,013 1,737
OTHER ASSETS    
License with Related Party, net of accumulated amortization 163,396 190,133
Total other asset 163,396 190,133
TOTAL ASSETS 594,498 596,029
CURRENT LIABILITIES    
Accounts payable and accrued expenses 454,646 384,861
Current portion of Original Issue Discount Senior Secured Convertible      
Promissory Note, net of discount 2,400,000 2,400,000
Total current liabilities 2,854,646 2,784,861
TOTAL LIABILITIES 2,854,646 2,784,861
STOCKHOLDERS' DEFICIT    
Common stock, $0.001par value, 75,000,000 shares authorized, 32,304,702 and 28,167,063 shares issued and outstanding 32,305 28,167
Additional paid-in capital 1,894,605 1,747,583
Additional paid-in capital - warrants 962,297 962,297
Deficit accumulated during the development stage (5,149,355) (4,926,879)
Total stockholders' deficit (2,260,148) (2,188,832)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 594,498 $ 596,029