Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEET

v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEET (USD $)
Sep. 30, 2014
Dec. 31, 2013
CURRENT ASSETS:    
Cash $ 101,564 $ 493,104
Prepaid Expenses 25,081 72,122
Miscellaneous Receivable   118,467
Deferred Finance Costs   4,834
Total Current Assets 126,645 688,527
PROPERTY AND EQUIPMENT, NET 75,000 93,750
OTHER ASSETS:    
Patent Applications Pending 1,391,281 1,391,281
Deposits   845
Total Other Assets 1,391,281 1,392,126
Total Assets 1,592,926 2,174,403
CURRENT LIABILITIES:    
Accounts Payable 483,019 483,208
Loans Payable - Related Parties 28,010  
Convertible Debenture Payable, less discount of $716,568 and $111,280 at September 30, 2014 and December 31, 2013 2,823,431 1,619,319
Derivative Liability 4,768,396 8,036,239
Accrued Liabilities 1,051,928 738,686
Total Current Liabilities 9,154,784 10,877,452
LONG TERM LIABILITIES:    
Convertible Debenture Payable, less discount of $1,553,608 and $2,159,189 at September 30, 2014 and December 31, 2013 481,393 890,811
Total Long term Liabilities 481,393 890,811
TOTAL LIABILITIES 9,636,177 11,768,263
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' DEFICIT:    
Common stock, $.001 par value, 200,000,000 shares authorized 128,561,904 and 116,852,093 issued and outstanding at September 30, 2014 and December 31, 2013 128,562 116,852
Additional Paid-In Capital 34,479,725 32,895,380
Accumulated deficit (42,651,538) (42,606,092)
Total Stockholders' Deficit (8,043,251) (9,593,860)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,592,926 $ 2,174,403