Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEET

v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEET (USD $)
Mar. 31, 2014
Dec. 31, 2013
CURRENT ASSETS:    
Cash $ 96,823 $ 493,104
Prepaid Expenses 89,588 72,122
Miscellaneous Receivable 118,467 118,467
Deferred Finance Costs 0 4,834
Total Current Assets 304,878 688,527
PROPERTY AND EQUIPMENT, NET 87,500 93,750
OTHER ASSETS:    
Patent Applications Pending 1,391,281 1,391,281
Deposits 0 845
Total Other Assets 1,391,281 1,392,126
TOTAL ASSETS 1,783,659 2,174,403
CURRENT LIABILITIES:    
Accounts Payable 600,432 483,208
Convertible Debenture Payable, less discount of $201,873 and $111,280 at March 31, 2014 and December 31, 2013 1,558,727 1,619,319
Derivative Liability 2,671,529 8,036,239
Accrued Liabilities 825,474 738,686
Total Current Liabilities 5,656,162 10,877,452
LONG TERM LIABILITIES:    
Convertible Debenture Payable, less discount of $1,589,593 and $2,159,189 at March 31, 2014 and December 31, 2013 1,010,407 890,811
Total Long term Liabilities 1,010,407 890,811
TOTAL LIABILITIES 6,666,569 11,768,263
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' DEFICIT:    
Common stock, $.001 par value, 200,000,000 shares authorized 122,868,760 and 116,852,093 issued and outstanding at March 31, 2014 and December 31, 2013 122,869 116,852
Additional Paid-In Capital 33,637,984 32,895,380
Accumulated deficit (38,643,763) (42,606,092)
Total Stockholders' Deficit (4,882,910) (9,593,860)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,783,659 $ 2,174,403