Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEET

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CONSOLIDATED BALANCE SHEET (USD $)
Dec. 31, 2012
Dec. 31, 2011
CURRENT ASSETS:    
Cash $ 47,147 $ 225,696
Deferred Finance Costs 34,957 13,722
Prepaid Expenses 8,701 10,412
Total Current Assets 90,805 249,830
PROPERTY AND EQUIPMENT, NET 13,203 83,546
OTHER ASSETS:    
Definite-life intangible Assets, net 6,234 7,201
Deposits 123,762 122,917
Total Other Assets 129,996 130,118
TOTAL ASSETS 234,004 463,494
CURRENT LIABILITIES:    
Accounts Payable 938,640 660,565
Loan Payable, Related Party 15,362 100
Loans payable, Others 243,592 0
Current portion, long term debt 0 7,682
Customer deposits 27,837 27,837
Obligation to Issue Common Stock 337,478 307,664
Convertible Debentures Payable, less discount of $517,542 and $875 at December 31, 2012 and 2011 482,458 84,226
Derivative Liability 1,026,128 528,566
Deferred Rent 19,110 96,347
Accrued Liabilities 270,682 75,349
Total Current Liabilities 3,361,287 1,788,336
LONG TERM LIABILITIES:    
Convertible Debenture Payable, net of Discount of $223,692 and $577,106 at December 31, 2012 and 2011 593,908 423,393
Deferred Revenue, non-current 235,000 235,000
Deferred rent expense 0 48,264
Total Long Term Liabilities 828,908 706,657
TOTAL LIABILITIES 4,190,195 2,494,993
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' DEFICIT:    
Common stock, $.001 par value, 200,000,000 shares authorized; 100,036,350 and 105,317,816 issued and outstanding at December 31, 2011 and 2012, respectively 105,318 100,036
Additional Paid-In Capital 28,448,705 27,130,276
Accumulated Deficit (32,510,214) (29,261,809)
Total Stockholders' Deficit (3,956,191) (2,031,497)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 234,004 $ 463,494