Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEET

v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEET (USD $)
Jun. 30, 2014
Dec. 31, 2013
CURRENT ASSETS:    
Cash $ 31,011 $ 493,104
Prepaid Expenses 37,519 72,122
Miscellaneous Receivable   118,467
Deferred Finance Costs   4,834
Total Current Assets 68,530 688,527
PROPERTY AND EQUIPMENT, NET 81,250 93,750
OTHER ASSETS    
Patent Applications Pending 1,391,281 1,391,281
Deposits   845
Total Other Assets 1,391,281 1,392,126
Total Assets 1,541,061 2,174,403
CURRENT LIABILITIES:    
Accounts Payable 682,375 483,208
Loan Payable - Related Party 25,510  
Convertible Debenture Payable, less discount of $538,936 and $111,280 at June 30, 2014 and December 31, 2013 2,201,064 1,619,319
Derivative Liability 2,079,118 8,036,239
Accrued Liabilities 924,216 738,686
Total Current Liabilities 5,912,283 10,877,452
LONG TERM LIABILITIES:    
Convertible Debenture Payable, less discount of $913,910 and $2,159,189 at June 30, 2014 and December 31, 2013 636,090 890,811
Total Long term Liabilities 636,090 890,811
TOTAL LIABILITIES 6,548,373 11,768,263
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' DEFICIT:    
Common stock, $.001 par value, 200,000,000 shares authorized 127,280,427 and 116,852,093 issued and outstanding at June 30, 2014 and December 31, 2013 127,281 116,852
Additional Paid-In Capital 34,176,717 32,895,380
Accumulated deficit (39,311,310) (42,606,092)
Total Stockholders' Deficit (5,007,312)  
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,541,061 $ 2,174,403