Quarterly report pursuant to sections 13 or 15(d)

Balance Sheets

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Balance Sheets (USD $)
Dec. 31, 2010
Jun. 30, 2010
CURRENT ASSETS    
Cash and cash equivalents $ 47,521 $ 2,122
Prepaid expenses and other current assets 30,217 110,599
Total Current Assets 77,738 112,721
PROPERTY AND EQUIPMENT, net 25,105 37,505
OTHER ASSETS   90,000
TOTAL 102,843 240,226
CURRENT LIABILITIES    
Accounts payable 1,015,221 1,588,606
Accrued liabilities 11,833 63,127
Related Party liabilities 287,462 222,230
Current portion of derivative liability 141,690 71,464
Current portion of convertible promissory notes 1,094 370,435
Total current liabilities 1,457,300 2,315,862
STOCK WARRANT LIABILITY 4,416 7,152
DERIVATIVE LIABILITY 145,857 289,327
CONVERTIBLE PROMISSORY NOTES - Net of current portion 29,915 108,084
Total liabilities 1,637,488 2,720,425
STOCKHOLDERS EQUITY (DEFICIT)    
Convertible preferred stock, $0.001 par value - authorized, 5,000,000 shares; issued and outstanding, 1,838,354 shares at December 31, 2010 and - 0 - shares at June 30, 2011, (liquidation preference of $735,342 at December 31, 2010) 685,342  
Common stock, $0.001 par value - authorized, 90,000,000 shares; issued and outstanding, 24,961,474 shares at December 31, 2010 and 67,000,000 shares at June 30, 2011 4,020 186,042
Additional paid in capital 62,320 2,555,483
Deficit accumulated during the development stage (2,286,327) (5,221,723)
Total Stockholders Deficit (1,534,645) (2,480,198)
TOTAL $ 102,843 $ 240,226