Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEET

v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEET (USD $)
Jun. 30, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash $ 254,604 $ 47,147
Prepaid Expenses 87,328 8,701
Miscellaneous Receivable 118,467 0
Deferred Finance Costs, 34,957 34,957
Total Current Assets 495,356 90,805
PROPERTY AND EQUIPMENT, NET 0 13,203
OTHER ASSETS:    
Definite-life intangible Assets, net 0 6,234
Deposits 845 123,762
Total Other Assets 845 129,996
Total Assets 496,201 234,004
CURRENT LIABILITIES:    
Accounts Payable 802,501 938,640
Customer deposits 0 27,837
Loan Payable - Other 289,592 243,592
Loan Payable - Related Party 0 15,362
Obligation to issue common stock and warrants 273 337,478
Convertible Debenture Payable, less discount of $421,611 and $517,542 at June 30, 2013 and December 31, 2012 1,260,989 482,458
Derivative Liability, 5,692,826 1,026,128
Deferred Rent 0 19,110
Accrued Liabilities 661,129 270,682
Total Current Liabilities 8,707,310 3,361,287
LONG TERM LIABILITIES:    
Convertible Debenture Payable, less discount of $ 1,235,616 and $223,692 at June 30, 2013 and December 31, 2012 399,384 593,908
Deferred revenue, noncurrent 0 235,000
Total Long term Liabilities 399,384 828,908
TOTAL LIABILITIES 9,106,694 4,190,195
COMMITMENT AND CONTINGENCIES.      
STOCKHOLDERS' DEFICIT:    
Common stock, $.001 par value, 200,000,000 shares authorized 107,812,111 and 105,317,816 issued and outstanding at at June 30, 2013 and December 31, 2012 107,812 105,318
Additional Paid-In Capital 29,468,346 28,448,705
Accumulated deficit (38,186,651) (32,510,214)
Total Stockholders' Deficit (8,610,493) (3,956,191)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT $ 496,201 $ 234,004