Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY

v2.3.0.11
CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (USD $)
Common Stock
Additional Paid-in Capital
Deficit Accumulated During the Development Stage
Total
Beginning Balance, Amount at Dec. 31, 2011 $ 114,274 $ 66,069,911 $ (69,289,467) $ (3,105,282)
Beginning Balance, Shares at Dec. 31, 2011 114,273,470      
Common stock issued for convertible debt, Amount 10,930 2,721,571   2,732,501
Common stock issued for convertible debt, Shares 10,930,004      
Common stock issued upon exercise of warrants, Amount 1,295 457,205   458,500
Common stock issued upon exercise of warrants, Shares 1,294,726      
Fair value of options and warrants issued as compensation   1,453,662   1,453,662
Common stock issued upon exercise of options, Amount 18 4,932   4,950
Common stock issued upon exercise of options, Shares 18,334      
Common stock issued for services, Amount 1,500 518,500   520,000
Common stock issued for services, Shares 1,500,000      
Fair value of warrants and beneficial conversion feature of issued convertible notes   1,360,480   1,360,480
Net loss     (6,867,948) (6,867,948)
Ending Balance, Amount at Jun. 30, 2012 $ 128,017 $ 72,586,261 $ (76,157,415) $ (3,443,137)
Ending Balance, Shares at Jun. 30, 2012 128,016,534