Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

v2.4.0.8
Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
 9 Months Ended 38 Months Ended
Sep. 30, 2013
Sep. 30, 2012
Sep. 30, 2013
Operating Activities      
Net loss $ (2,880,855) $ (2,605,726) $ (10,466,491)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 109,044 103,477 384,506
Stock based compensation 236,966 445,142 1,502,415
Common stock and warrants issued for services 348,172 286,583 1,577,830
Amortization of stock issued in advance of services 52,500 52,500 151,667
Changes in operating assets and liabilities:      
Prepaid expenses (81,965) (83,028) (107,514)
Other current assets 7,292 (10,444) 611
Accounts payable and accrued liabilities (166,093) (55,793) 300,426
Net Cash Used In Operating Activities (2,374,939) (1,867,289) (6,656,550)
Investing Activities      
Purchases of property and equipment (713) (71,576) (126,263)
Net Cash Used in Investing Activities (713) (71,576) (126,263)
Financing Activities      
Proceeds from issuance of common shares 1,871,500 1,951,625 6,311,104
Grants received 605,154    1,281,500
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 2,475,333 1,951,625 7,295,518
Effect of foreign exchange on cash (2,627) (45,375) (39,230)
Increase/(Decrease) in Cash 97,054 (32,615) 473,475
Cash - Beginning of Period 376,421 347,892   
Cash - End of Period 473,475 315,277 473,475
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 $ 77,333 $ 207,027 $ 2,251,946