Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2013
Dec. 31, 2012
ASSETS    
Cash $ 4,482,552 $ 1,601,791
Other current assets 137,351 40,132
Total current assets 4,619,903 1,641,923
Property and Equipment, net of accumulated depreciation of $253,411 and $249,040 at March 31, 2013 and December 31, 2012, respectively 51,840 55,674
Other assets 10,330 10,330
Total assets 4,682,073 1,707,927
LIABILITIES AND STOCKHOLDERS' DEFICIENCY    
Accounts payable-related parties 70,589 65,192
Accounts payable-license agreements 425,225 315,850
Accounts payable-other 253,969 411,346
Accrued expenses-related parties 413,378 468,086
Accrued expenses-other 50,289 21,657
Accrued professional fees 123,296 102,178
Fair value of derivative liabilities    3,221,138
Total current liabilities 1,336,746 4,605,447
Commitments and contingencies      
Stockholders' deficiency    
Common stock, $.001 par value: 200,000,000 shares authorized, 158,062,170 and 143,667,570, shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively 158,062 143,668
Additional paid-in capital 83,986,319 79,340,666
Deficit accumulated during the development stage (80,799,054) (82,381,854)
Total stockholders' equity (deficiency) 3,345,327 (2,897,520)
Total liabilities and stockholders' equity (deficiency) $ 4,682,073 $ 1,707,927