Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT

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CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT (USD $)
Common Stock Shares
Common Stock Amount
Additional Paid In Capital
USD ($)
Accumulated Deficit
USD ($)
Total
USD ($)
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     $ 48,429   $ 48,429
Issuance of common stock and warrants pursuant to private placements 4,920,000 4,920 610,080   615,000
Cashless exercise of common stock warrants 11,797 12 (12)    
Exercise of common stock warrants 350,000 350 34,650   35,000
Discounts on convertible debentures     332,000   332,000
Deferred finance charges     293,282   293,282
Net loss for 2012       (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)
Issuance of warrants to board of directors,     38,226   38,226
Issuance of warrants for services     434,749   434,749
Issuance of common stock and warrants pursuant to private placements, 2,910,606 2,911 704,089   707,000
Cashless exercise of common stock warrants, 1,441,889 1,442 (1,442)   0
Common stock issued on conversion of 1% Convertible Debt 1,800,000 1,800 103,200   105,000
Common stock issued on conversion of 11% Convertible Debt 1,250,000 1,250 148,750   150,000
Common stock issued for purchase of assets 2,577,565 2,577 1,157,327   1,159,904
Exercise of common stock warrants, 765,000 765 96,735   97,500
Discounts on convertible debentures,     479,405   479,405
Warrants issued for financing costs     1,021,311   1,021,311
Shares issued for financing costs 789,217 789 264,323   265,112
Net loss for 2013       $ (10,095,878) $ (10,095,878)
Balance at Dec. 31, 2013 116,852,093 116,852 32,895,378 (42,606,092) (9,593,860)