Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2013
Dec. 31, 2012
ASSETS    
Cash $ 4,505,736 $ 1,601,791
Other current assets 124,817 40,132
Total current assets 4,630,553 1,641,923
Property and Equipment, net of accumulated depreciation of $67,874 and $249,040 at June 30, 2013 and December 31, 2012 respectively 48,175 55,674
Other assets 24,830 10,330
Total assets 4,703,558 1,707,927
LIABILITIES AND STOCKHOLDERS' DEFICIENCY    
Accounts payable-related parties 85,589 65,192
Accounts payable-license agreements 392,933 315,850
Accounts payable-other 233,471 411,346
Accrued expenses-related parties 350,138 468,086
Accrued expenses-other 9,556 21,657
Accrued professional fees 65,050 102,178
Fair value of derivative liabilities 0 3,221,138
Total current liabilities 1,136,737 4,605,447
Stockholders' deficiency    
Common stock, $.001 par value: 200,000,000 shares authorized, 163,654,700 and 143,667,570 shares issued and outstanding at June 30, 2013 and December 31, 2012 respectively 163,655 143,668
Additional paid-in capital 86,123,170 79,340,666
Deficit accumulated during the development stage (82,720,004) (82,381,854)
Total stockholders' equity (deficiency) 3,566,821 (2,897,520)
Total liabilities and stockholders' equity (deficiency) $ 4,703,558 $ 1,707,927