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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, 2014
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Jun. 30, 2013
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Jun. 30, 2014
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Jun. 30, 2013
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| REVENUES | ||||
| Revenues | $ 0 | |||
| COSTS AND EXPENSES: | ||||
| General and Administrative | 262,145 | 472,003 | 532,748 | 736,416 |
| Professional fees and Consulting expense | 132,775 | 99,480 | 249,909 | 240,956 |
| Research and Development | 405,790 | 310,917 | 796,811 | 440,365 |
| Total Costs and Expenses | 800,710 | 882,400 | 1,579,468 | 1,417,737 |
| LOSS FROM OPERATIONS | (800,710) | (882,400) | (1,579,468) | (1,417,737) |
| OTHER INCOME (EXPENSE): | ||||
| Other Income | 93,683 | 262,837 | 93,683 | 262,837 |
| Other Expense | (118,467) | (118,467) | ||
| Fair Value Adjustment of Derivative Liability | 592,410 | (1,243,627) | 5,957,121 | (1,382,376) |
| Amortization of Debt Discount | (338,621) | (286,536) | (817,624) | (461,095) |
| Deferred Finance Costs | (4,835) | |||
| Finance Costs | (2,543,758) | (2,571,910) | ||
| Interest expense | (95,841) | (55,848) | (235,628) | (106,155) |
| Total Other Income (Expense) | 133,164 | (3,866,932) | 4,874,250 | (4,258,699) |
| NET INCOME (LOSS) | $ (667,546) | $ (4,749,332) | $ 3,294,782 | $ (5,676,436) |
| BASIC INCOME (LOSS) PER SHARE | $ (0.01) | $ (0.04) | $ 0.03 | $ (0.05) |
| WEIGHTED AVERAGE BASIC SHARES OUTSTANDING | 124,703,110 | 106,828,157 | 122,330,583 | 106,086,608 |
| FULLY DILUTED INCOME (LOSS) PER SHARE | (0.01) | (0.04) | 0.02 | (0.05) |
| WEIGHTED AVERAGE FULLY DILUTED SHARES OUTSTANDING | 124,703,110 | 106,828,157 | 170,226,919 | 106,086,608 |
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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
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
No authoritative reference available. 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
Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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
This element represents a sum total of expenses not separately reflected on the income statement for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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 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
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). 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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- Definition
This element represents the weighted average total number of shares issued throughout the period including the first (beginning balance outstanding) and last (ending balance outstanding) day of the period before considering any reductions (for instance, shares held in treasury) to arrive at the weighted average number of shares outstanding. Weighted average relates to the portion of time within a reporting period that common shares have been issued and outstanding to the total time in that period. Such concept is used in determining the weighted average number of shares outstanding for purposes of calculating earnings per share (basic). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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