Quarterly report pursuant to sections 13 or 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash $ 448,362 $ 101,645
Other current assets 53,508 29,425
Total current assets 501,870 131,070
Property and Equipment, net of accumulated depreciation of $194,897 and $178,246 at June 30, 2011 and December 31, 2010, respectively 92,383 78,083
Other assets 10,330 8,020
Total assets 604,583 217,173
LIABILITIES AND STOCKHOLDERS’ DEFICIENCY    
Accounts payable-related parties 76,183 241,176
Accounts payable-license agreements   721,785
Accounts payable-other 513,147 450,411
Accrued expenses 839,298 959,827
Accrued professional fees 302,354 431,704
Loans payable-related parties and shareholders 63,464 86,947
Convertible debentures, net-of- discount 165,811 76,947
Fair value of derivative liabilities 2,101,091 3,664,675
Total current liabilities 4,061,348 6,633,472
Common stock, $.001par value: 200,000,000 shares authorized, 106,397,658 and 91,453,194, shares issued and outstanding at June 30, 2011 and December 31, 2010, respectively 106,398 91,453
Common stock to be issued (200,000 shares at June 30, 2011) 120,000  
Additional paid-in capital 60,009,018 51,925,168
Deficit accumulated during the development stage (63,692,181) (58,432,920)
Total stockholders’ deficiency (3,456,765) (6,416,299)
Total liabilities and stockholders’ deficiency $ 604,583 $ 217,173