|
STATEMENTS OF OPERATIONS (USD $)
|
3 Months Ended | 9 Months Ended | 12 Months Ended | 181 Months Ended | 12 Months Ended | 172 Months Ended | ||
|---|---|---|---|---|---|---|---|---|
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Sep. 30, 2011
|
Sep. 30, 2010
|
Sep. 30, 2011
|
Sep. 30, 2010
|
Dec. 31, 2009
|
Sep. 30, 2011
|
Dec. 31, 2010
Restated Amount
|
Dec. 31, 2010
Restated Amount
|
|
| Investment Income | $ 170,753 | |||||||
| Other Income | 12,640 | 12,640 | ||||||
| Revenue | 12,640 | 183,393 | ||||||
| Operating expenses: | ||||||||
| General and administrative expenses | 564,910 | 528,814 | 2,260,713 | 730,199 | 1,993,905 | 21,704,929 | 2,109,556 | 19,237,274 |
| Depreciation | 1,625 | 1,534 | 4,778 | 4,514 | 55,996 | |||
| Research and development | 111,832 | 303,000 | 6,264,753 | 257,350 | 2,843,406 | |||
| Depreciation and Amortization | 3,534 | 6,048 | 85,117 | |||||
| Transaction (See Note 3) | 3,309,515 | |||||||
| Total operating expenses | 566,535 | 530,348 | 2,377,323 | 734,713 | 2,300,439 | 28,025,678 | 2,372,954 | 25,475,312 |
| Gain/Loss from operations | (566,535) | (530,348) | (2,377,323) | (734,713) | (2,300,439) | (28,025,678) | (2,360,314) | (25,291,919) |
| OTHER INCOME (EXPENSES): | ||||||||
| Interest income | 10 | 17,286 | 17,276 | |||||
| Interest expense | 130,295 | 65,712 | 321,123 | 121,900 | 606,235 | 166,671 | 285,112 | |
| Gain on disposal of assets | 794 | 794 | ||||||
| Gain / Loss on extinguishment of debt | (163,312) | (152,914) | (152,914) | |||||
| Embedded Derivative Expense / Adjustments to fair value of derivatives | 1,439 | (10,942) | (79,092) | 10,239 | (16,042) | (48,299) | (48,299) | |
| OTHER INCOME (EXPENSES) | 205,327 | |||||||
| Total Other Income (Expenses), net | (128,856) | (76,654) | (400,205) | (111,661) | (551,784) | |||
| Net loss before minority interest/Gain/Loss before income tax | (2,463,751) | (2,575,284) | (25,760,173) | |||||
| LOSS BEFORE MINORITY INTEREST | (695,391) | (607,002) | (2,777,528) | (846,374) | (28,577,462) | |||
| Minority Interest in Subsidiary Loss | (183,422) | (183,422) | ||||||
| Net loss from operations/Net gain/ loss | $ (695,391) | $ (607,002) | $ (2,777,528) | $ (846,374) | $ (2,463,751) | $ (28,394,040) | $ (2,575,284) | $ (25,576,751) |
| Net loss per share / Basic and diluted | $ (0.01) | $ (0.02) | $ (0.06) | $ (0.02) | $ (0.08) | $ (0.75) | $ (0.07) | $ (0.69) |
| Weighted average shares outstanding / Basic and diluted | 47,739,213 | 36,024,559 | 47,739,213 | 36,024,559 | 31,848,172 | 37,646,529 | 36,762,006 | 36,805,472 |