Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (unaudited)

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Condensed Consolidated Statements of Cash Flows (unaudited) (USD $)
 6 Months Ended 47 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Operating Activities      
Net loss $ (1,377,623) $ (1,955,288) $ (12,673,545)
Adjustments to reconcile net loss to net cash used in operating activities:      
Depreciation and amortization 63,585 72,525 485,443
Impairment of intangible asset       350,000
Stock based compensation 85,080 166,669 1,632,541
Common stock and warrants issued to settle liabilities for services 55,432 223,771 1,757,512
Amortization of stock issued in advance of services    35,000 350,000
Non-operating income - grants received (143,987)    (1,009,610)
Gain on derivative remeasurement (767,001)    (767,001)
Changes in operating assets and liabilities:      
Prepaid expenses (46,393) (26,421) (122,563)
Other current assets (38,756) (776) (39,473)
Accounts payable and accrued liabilities (114,900) (62,576) 522,506
Net Cash Used In Operating Activities (2,284,563) (1,547,096) (9,514,190)
Investing Activities      
Purchases of property and equipment (46,671) (714) (172,935)
Net Cash Used in Investing Activities (46,671) (714) (172,935)
Financing Activities      
Proceeds from issuance of common shares 3,120,435 1,421,500 10,388,289
Grants received 143,987 517,280 1,639,908
Proceeds from note payable       59,942
Repayment of notes payable    (1,321) (546,393)
Cash acquired through reverse merger       100
Net Cash Provided By Financing Activities 3,264,422 1,937,459 11,541,846
Effect of foreign exchange on cash (13,621) (15,321) (46,450)
Increase in Cash 919,567 374,328 1,808,271
Cash - Beginning of Period 888,704 376,421   
Cash - End of Period 1,808,271 750,749 1,808,271
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       $ 1,169,943