CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
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12 Months Ended | |
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Dec. 31, 2012
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Dec. 31, 2011
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REVENUES: | ||
Net Sales | $ 0 | $ 88,891 |
Licensing Fees | 0 | 15,000 |
Total Revenues | 0 | 103,891 |
COSTS AND EXPENSES: | ||
Cost of sales | 0 | 138,252 |
Selling | 0 | 13,729 |
General and Administrative | 938,198 | 603,104 |
Professional Fees and Consulting Expense | 464,905 | 909,221 |
Research and Development | 677,490 | 377,893 |
Total Costs and Expenses | 2,080,593 | 2,042,199 |
LOSS FROM OPERATIONS | (2,080,593) | (1,938,308) |
OTHER INCOME (EXPENSE): | ||
Fair Value Adjustment of Derivative Liability | 506,729 | 24,422 |
Amortization of Bond Discount | (668,747) | (142,412) |
Amortization of Deferred Finance Costs | (108,827) | (43,984) |
Finance Costs Paid in Stocks and Warrants | (755,233) | (584,215) |
Interest Expense | (141,734) | (47,113) |
Total Other Income (Expense) | (1,167,812) | (793,303) |
NET LOSS | $ (3,248,405) | $ (2,731,610) |
BASIC AND DILUTED LOSS PER SHARE | $ (0.03) | $ (0.03) |
WEIGHTED AVERAGE BASIC AND DILUTED SHARES OUTSTANDING | 101,399,795 | 96,581,501 |
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The amount of amortization of bond discount during the period. No definition available.
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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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Represents the portion of finance costs incurred in the period on debt arrangements that was charged against stock and warrants. No definition available.
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The amount of professional fees and consulting expense during the period. No definition available.
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The average number of shares or units issued and outstanding that are used in calculating basic and diluted EPS. No definition available.
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- Definition
Total costs related to goods produced and sold during the reporting 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
Aggregate net gain (loss) on all derivative instruments recognized in earnings during the period, before tax effects. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- Definition
Revenue earned during the period relating to consideration received from another party for the right to use, but not own, certain of the entity's intangible assets. Licensing arrangements include, but are not limited to, rights to use a patent, copyright, technology, manufacturing process, software or trademark. Licensing fees are generally, but not always, fixed as to amount and not dependent upon the revenue generated by the licensing party. An entity may receive licensing fees for licenses that also generate royalty payments to the entity. 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 aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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The net result for the period of deducting operating expenses from operating revenues. No definition available.
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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
Total revenue from sale of goods and services rendered during the reporting period, in the normal course of business, reduced by sales returns and allowances, and sales discounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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