Quarterly report pursuant to sections 13 or 15(d)

Balance Sheets

v2.3.0.11
Balance Sheets (USD $)
Jun. 30, 2012
Dec. 31, 2011
CURRENT ASSETS:    
Cash and cash equivalents $ 6,648 $ 870
Prepaid expenses and other current assets 546,931 335,498
Total current assets 553,579 336,368
PROPERTY AND EQUIPMENT - Net 12,581 18,389
OTHER ASSETS 419,643  
TOTAL ASSETS 985,803 354,757
CURRENT LIABILITIES:    
Accounts payable 2,434,137 2,052,764
Accrued liabilities 125,167 77,208
Related Party liabilities 222,230 222,230
Note Payable 150,000 150,000
Current portion of warrant liability 254,855 281,143
Current portion of derivative liability 97,082 45,180
Current portion of convertible promissory notes 1,168,819 714,261
Total current liabilities 4,452,290 3,542,786
STOCK WARRANT LIABILITY   2,788
DERIVATIVE LIABILITY - Net of current portion   95,526
CONVERTIBLE PROMISSORY NOTES - Net of current portion   63,600
Total liabilities 4,452,290 3,704,700
COMMITMENTS AND CONTINGENCIES    
STOCKHOLDERS DEFICIT:    
Convertible preferred stock, $0.001 par value - authorized, 10,000,000 shares, 250,000 shares designated as Series A, par value $0.001, 250,000 shares issued and outstanding as of June 30, 2012 and none as of December 31, 2011 250  
Common stock, $0.001 par value - authorized 250,000,000 shares; issued and outstanding 106,979,345 shares at June 30, 2012 and, 80,836,592 shares at December 31, 2011 106,979 80,937
Additional paid-in capital 5,465,371 3,295,549
Deficit accumulated during the development stage (9,039,087) (6,726,429)
Total stockholders deficit (3,466,487) (3,349,943)
TOTAL $ 985,803 $ 354,757