Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIENCY

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CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIENCY (USD $)
Common Stock Shares
Common Stock Amount
USD ($)
Additional Paid in Capital
USD ($)
Accumulated Deficit
USD ($)
Total
USD ($)
Balance at Dec. 31, 2010 92,705,351 92,705 25,485,816 (26,530,199) (951,680)
Issuance of warrants to board of directors   $ 0 $ 87,278 $ 0 $ 87,278
Issuance of stock to consultants 137,594 138 34,862 0 35,000
Issuance of warrants to consultants   0 8,584 0 8,584
Issuance of common stock pursuant to private placements 3,193,334 3,193 404,307 0 407,500
Issuance of common stock for cashless warrants 82,667 83 (83) 0 0
Common stock issued in repayment of loan 1,317,398 1,317 163,358 0 164,675
Exercise of common stock warrants 2,600,000 2,600 257,400 0 260,000
Warrants issued for financing costs   0 500,626 0 500,626
Discounts on convertible debentures   0 130,422 0 130,422
Deferred finance charges   0 57,706 0 57,706
Rounding (325) 0 0 0 0
Net loss   0 0 (2,731,610) (2,731,610)
Balance at Dec. 31, 2011 100,036,019 100,036 27,130,276 (29,261,809) (2,031,497)
Issuance of warrants to board of directors   0 48,429 0 48,429
Issuance of common stock and warrants pursuant to private placements 4,920,000 4,920 610,080 0 615,000
Cashless exercise of common stock warrants 11,797 12 (12) 0 0
Exercise of common stock warrants 350,000 350 34,650 0 35,000
Discounts on convertible debentures   0 332,000 0 332,000
Deferred finance charges   0 293,282 0 293,282
Net loss   $ 0 $ 0 $ (3,248,405) $ (3,248,405)
Balance at Dec. 31, 2012 105,317,816 105,318 28,448,705 (32,510,214) (3,956,191)