Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v2.4.0.6
Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
 3 Months Ended 32 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Mar. 31, 2013
Operating Activities      
Net loss $ (907,797) $ (801,740) $ (8,493,433)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 36,434 32,977 311,896
Stock based compensation 84,176 207,249 1,349,625
Common stock and warrants issued to settle liabilities for services 83,849    1,313,507
Amortization of stock issued in advance of services 17,500 17,500 116,667
Changes in operating assets and liabilities:      
Accounts receivable    (15,672)   
Prepaid expenses. (95,488) (32,740) (121,037)
Other current assets. 5,286 (2,722) (1,395)
Accounts payable and accrued liabilities 219,689 31,069 686,208
Net Cash Used In Operating Activities (556,351) (564,079) (4,837,962)
Investing Activities      
Purchases of property and equipment (714) (37,796) (126,264)
Net Cash Used in Investing Activities (714) (37,796) (126,264)
Proceeds from issuance of common shares 596,000 479,250 5,035,604
Grants received       676,346
Proceeds from note payable       59,942
Repayment of note payable - related party (1,321)    (357,128)
Cash acquired through reverse merger       100
Net Cash Provided By Financing Activities 594,679 479,250 5,414,864
Effect of foreign exchange on cash (3,169) (7,455) (39,772)
Increase (Decrease) in Cash 34,445 (130,080) 410,866
Cash - Beginning of Period 376,421 347,892   
Cash - End of Period 410,866 217,812 410,866
Supplemental Disclosures of Cash Flow Information      
Interest paid         
Income tax paid         
Non Cash Financing Activities::      
Acquisition of subsidiary for debt       1,000,000
Common stock issued for debt $ 18,583    $ 1,169,943