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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
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3 Months Ended | 6 Months Ended | ||
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Jun. 30, 2013
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Jun. 30, 2012
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Jun. 30, 2013
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Jun. 30, 2012
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| REVENUES: | ||||
| REVENUES: | $ 0 | $ 0 | $ 0 | $ 0 |
| COSTS AND EXPENSES: | ||||
| General and Administrative | 472,003 | 162,453 | 736,416 | 315,938 |
| Professional fees and Consulting expense | 99,480 | 136,914 | 240,956 | 367,597 |
| Research and Development | 310,917 | 182,417 | 440,365 | 305,468 |
| Total Costs and Expenses | 882,400 | 481,785 | 1,417,737 | 989,003 |
| LOSS FROM OPERATIONS | (882,400) | (481,785) | (1,417,737) | (989,003) |
| OTHER INCOME (EXPENSE): | ||||
| Other Income | 262,837 | 0 | 262,837 | 0 |
| Fair Value Adjustment of Derivative Liability | (1,243,627) | 492,870 | (1,382,376) | 379,315 |
| Amortization of Debt Discount | (286,536) | (175,713) | (461,095) | (286,341) |
| Amortization of Deferred Finance Costs | 0 | (4,286) | 0 | (8,570) |
| Finance Costs | (2,543,758) | (543,816) | (2,571,910) | (842,198) |
| Interest expense | (55,848) | (35,823) | (106,155) | (60,475) |
| Total Other Income (Expense) | (3,866,932) | (266,768) | (4,258,699) | (818,269) |
| NET LOSS | $ (4,749,332) | $ (748,552) | $ (5,676,436) | $ (1,807,272) |
| BASIC AND DILUTED LOSS PER SHARE | $ (0.04) | $ (0.01) | $ (0.05) | $ (0.02) |
| WEIGHTED AVERAGE BASIC AND DILUTED SHARES OUTSTANDING | 106,828,157 | 100,203,054 | 106,086,608 | 100,119,537 |
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- Definition
The charge during the period representing the systematic and rational allocation of deferred finance costs over the term of the debt arrangement to which it pertains. No definition available.
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- Definition
Fair value as of the balance sheet date of the gross assets less the gross liabilities of a derivative liability or group of derivative liabilities No definition available.
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- Definition
Payment of finance costs paid during the period No definition available.
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- Definition
Amount of noncash expense included in interest expense to amortize debt discount and premium associated with the related debt instruments. Excludes amortization of financing costs. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total costs of sales and operating expenses for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cost of borrowed funds accounted for as interest that was charged against earnings during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
Reflects the sum of all other revenue and income recognized by the entity in the period not otherwise specified in the income statement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net amount of other operating income and expenses, the components of which are not separately disclosed on the income statement, from items that are associated with the entity's normal revenue producing operations. No definition available.
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Aggregate revenue recognized during the period (derived from goods sold, services rendered, insurance premiums, or other activities that constitute an entity's earning process). For financial services companies, also includes investment and interest income, and sales and trading gains. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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