Quarterly report pursuant to sections 13 or 15(d)

Balance Sheets

v2.3.0.11
Balance Sheets (USD $)
Mar. 31, 2012
Dec. 31, 2011
CURRENT ASSETS:    
Cash and cash equivalents $ 148 $ 870
Prepaid expenses and other current assets 331,366 335,498
Total current assets 313,514 336,368
PROPERTY AND EQUIPMENT - Net 15,485 18,389
OTHER ASSETS 419,643  
TOTAL 766,642 354,757
CURRENT LIABILITIES:    
Accounts payable 1,994,522 2,052,764
Accrued liabilities 110,301 77,208
Related Party liabilities 222,230 222,230
Note payable 150,000 150,000
Current portion of warrant liability 267,914 281,143
Current portion of derivative liability 4,901 45,180
Current portion of convertible promissory notes 1,049,059 714,261
Total current liabilities 3,798,927 3,542,786
STOCK WARRANT LIABILITY 1,163 2,788
DERIVATIVE LIABILITY - Net of current portion 68,106 95,526
CONVERTIBLE PROMISSORY NOTES - Net of current portion 67,792 63,600
Total liabilities 3,935,988 3,704,700
STOCKHOLDERS DEFICIT:    
Common stock, $0.001 par value - authorized, 250,000,000 shares; issued and outstanding, 80,936,592 shares at December 31, 2011 and 95,188,519 shares at March 31, 2012 95,189 80,937
Additional paid-in capital 4,824,354 3,295,549
Deficit accumulated during the development stage (8,088,889) (6,726,429)
Total stockholders deficit (3,169,347) (3,349,943)
TOTAL $ 766,642 $ 354,757