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Condensed Consolidated Statements of Operations and Comprehensive Loss (unaudited) (USD $)
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3 Months Ended | 44 Months Ended | |
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Mar. 31, 2014
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Mar. 31, 2013
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Mar. 31, 2014
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| Condensed Consolidated Statements Of Operations And Comprehensive Loss | |||
| Revenue | $ 54,968 | ||
| Expenses | |||
| General and administrative | 68,910 | 51,556 | 1,218,138 |
| Professional fees | 127,121 | 64,965 | 1,763,675 |
| Salaries and office administrative fees | 171,678 | 198,077 | 2,282,272 |
| Research and development | 870,464 | 593,199 | 7,840,601 |
| Impairment of patents | 350,000 | ||
| Total Operating Expenses | 1,238,173 | 907,797 | 13,454,686 |
| Net Operating Loss | (1,238,173) | (907,797) | (13,399,718) |
| Other Income (Expense) | |||
| Grants received | 143,987 | 1,009,610 | |
| Derivative expense | (1,100,240) | (1,100,240) | |
| Net Other Expense | (956,253) | (90,630) | |
| Provision for income taxes | |||
| Net Loss | (2,194,426) | (907,797) | (13,490,348) |
| Other Comprehensive Loss | |||
| Foreign currency translation adjustments | (4,196) | 1,013 | (63,991) |
| Total Other Comprehensive Loss | (4,196) | 1,013 | (63,991) |
| Net Comprehensive Loss | $ (2,198,622) | $ (906,784) | $ (13,554,339) |
| Net Loss per Share - Basic and Diluted | $ (0.18) | $ (0.09) | |
| Weighted Average Shares Outstanding - Basic and Diluted | 12,246,424 | 10,210,392 | |
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of impairment loss recognized in the period resulting from the write-down of the carrying amount of a finite-lived intangible asset to fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Expenditures for salaries of officers. Does not include allocated share-based compensation, pension and post-retirement benefit expense or other labor-related non-salary expense. For commercial and industrial companies, excludes any direct and overhead labor that is included in cost of goods sold. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition
Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount after tax of other comprehensive income (loss) attributable to parent entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Derivative Expense No definition available.
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- Definition
Grants Received No definition available.
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- Definition
Weighted Average Shares Outstanding - Basic and Diluted No definition available.
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