|
CONDENSED BALANCE SHEETS (USD $)
|
Sep. 30, 2012
|
Dec. 31, 2011
|
| Current assets |
|
|
| Cash and cash equivalents |
$ 282,507 |
$ 1,039,190 |
| Prepaid expenses and other current assets |
155,842 |
271,298 |
| Total current assets |
438,349 |
1,310,488 |
| Property and equipment, net |
4,938 |
9,744 |
| Deposits |
51,938 |
51,938 |
| Total assets |
495,225 |
1,372,170 |
| Current liabilities |
|
|
| Accounts payable |
210,050 |
437,837 |
| Accrued expenses and other current liabilities |
69,027 |
64,718 |
| Due to related party |
8,066 |
38,892 |
| Total current liabilities |
287,143 |
541,447 |
| Warrant liability |
180,850 |
0 |
| Total liabilities |
467,993 |
541,447 |
| Commitments and contingencies |
|
|
| Stockholders' equity |
|
|
| Preferred stock, $0.001 par value, 10,000,000 shares authorized, none issued and outstanding |
0 |
0 |
| Common stock, $0.001 par value, 100,000,000 shares authorized, 43,062,231 and 39,712,231 shares issued and outstanding |
43,062 |
39,712 |
| Additional paid-in capital |
46,490,195 |
45,605,991 |
| Deficit accumulated during the development stage |
(46,506,025) |
(44,814,980) |
| Total stockholders' equity |
27,232 |
830,723 |
| Total liabilities and stockholders' equity |
$ 495,225 |
$ 1,372,170 |