Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (unaudited)

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Consolidated Balance Sheets (unaudited) (USD $)
Mar. 31, 2013
Dec. 31, 2012
ASSETS    
Cash $ 410,866 $ 376,421
Prepaid expenses - related party 233,333 250,833
Prepaid expenses 120,485 28,520
Other current assets 33,223 39,368
Total Current Assets 797,907 695,142
Property and equipment, net 81,712 91,386
Intangible assets, net 1,373,358 1,430,238
Total Assets 2,252,977 2,216,766
LIABILITIES    
Accounts payable and accrued liabilities 895,939 694,910
Note payable - related party 49,982 52,860
Total Current Liabilities 945,921 747,770
Grant repayable 616,023 635,201
Total Liabilities 1,561,944 1,382,971
STOCKHOLDERS' EQUITY    
Common Stock Authorized: 200,000,000 shares, at $0.001 par value Issued and outstanding: 10,436,354 shares and 10,191,562, respectively 10,436 10,192
Additional paid-in capital 9,082,293 8,443,512
Subscriptions received 125,000   
Accumulated other comprehensive loss (33,263) (34,276)
Deficit accumulated during the development stage (8,493,433) (7,585,633)
Total Stockholders' Equity 691,033 833,795
Total Liabilities and Stockholders' Equity $ 2,252,977 $ 2,216,766