Annual report pursuant to section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
ASSETS    
Cash $ 4,137,068 $ 1,601,791
Other current assets 56,930 40,132
Total current assets 4,193,998 1,641,923
Property and Equipment, net of accumulated depreciation of $33,355 and $249,040 at December 31, 2013 and December 31, 2012 respectively 35,771 55,674
Other assets 5,830 10,330
Total assets 4,235,599 1,707,927
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIENCY)    
Accounts payable-license agreements 185,450 315,850
Accounts payable-other 184,597 411,346
Accrued expenses and Accounts payable-related parties 662,028 533,278
Accrued expenses-other 128,208 123,835
Fair value of derivative liabilities 0 3,221,138
Total current liabilities 1,160,283 4,605,447
Commitments and contingencies      
Stockholder's equity (deficiency)    
Common stock, $.001 par value: 200,000,000 shares authorized 176,242,817 and 143,667,570 shares issued and outstanding at December 31, 2013 and December 31, 2012 respectively 176,243 143,668
Additional paid-in capital 95,937,936 79,340,666
Deficit accumulated during the development stage (93,038,863) (82,381,854)
Total stockholders' equity (deficiency) 3,075,316 (2,897,520)
Total liabilities and stockholders' equity (deficiency) $ 4,235,599 $ 1,707,927