Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEET

v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEET (USD $)
Mar. 31, 2013
Dec. 31, 2012
CURRENT ASSETS:    
Cash $ 25,856 $ 47,147
Prepaid Expenses 36,660 8,701
Deferred Finance Costs 34,957 34,957
Total Current Assets 97,473 90,805
PROPERTY AND EQUIPMENT, NET 0 13,203
OTHER ASSETS:    
Definite-life intangible Assets, net 0 6,234
Deposits 123,762 123,762
Total Other Assets 123,762 129,996
Total Assets 221,235 234,004
CURRENT LIABILITIES:    
Accounts Payable 915,048 938,640
Loan Payable - Related Party 362 15,362
Loan Payable - Other 293,592 243,592
Customer deposits 27,837 27,837
Obligation to issue common stock and warrants 365,630 337,478
Convertible Debenture Payable, less discount of $921,238 and $517,542 at March 31, 2013 and December 31, 2012 1,130,762 482,458
Derivative Liability 1,541,965 1,026,128
Deferred Rent 0 19,110
Accrued Liabilities 345,222 270,682
Total Current Liabilities 4,620,418 3,361,287
LONG TERM LIABILITIES:    
Convertible Debenture Payable, less discount of $22,526 and $223,692 at March 31, 2013 and December 31, 2012 243,074 593,908
Deferred revenue, noncurrent 235,000 235,000
Total Long term Liabilities 478,074 828,908
TOTAL LIABILITIES 5,098,492 4,190,195
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' DEFICIT:    
Common stock, $.001 par value, 200,000,000 shares authorized 105,338,927 and 105,317,816 issued and outstanding at March 31, 2013 and December 31, 2012 105,339 105,318
Additional Paid-In Capital 28,454,722 28,448,705
Accumulated deficit (33,437,318) (32,510,214)
Total Stockholders' Deficit (4,877,257) (3,956,191)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT $ 221,235 $ 234,004