Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2014
Dec. 31, 2013
ASSETS    
Cash $ 3,314,322 $ 4,137,068
Other current assets 53,690 56,930
Total current assets 3,368,012 4,193,998
Property and Equipment, net of accumulated depreciation of $40,267 and $33,355 at June 30, 2014 and December 31, 2013 respectively 28,859 35,771
Other assets 5,830 5,830
Total assets 3,402,701 4,235,599
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIENCY)    
Accounts payable-license agreements 343,907 185,450
Accounts payable-other 97,628 184,597
Accrued expenses and accounts payable-related parties 428,353 662,028
Accrued expenses-other 123,857 128,208
Total current liabilities 993,745 1,160,283
Commitments and contingencies      
Stockholder's equity (deficiency)    
Common stock, $.001 par value: 300,000,000 shares authorized 180,603,764 and 176,242,817 shares issued and outstanding at June 30, 2014 and December 31, 2013 respectively 180,604 176,243
Additional paid-in capital 97,679,081 95,937,936
Accumulated deficit (95,450,729) (93,038,863)
Total stockholders' equity 2,408,956 3,075,316
Total liabilities and stockholders' equity $ 3,402,701 $ 4,235,599