|
CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) (USD $)
|
3 Months Ended | 6 Months Ended | 52 Months Ended | ||
|---|---|---|---|---|---|
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
Jun. 30, 2011
|
Jun. 30, 2012
|
|
| Revenue | |||||
| Operating expenses: | |||||
| General and administrative | 10,912 | 1,829 | 22,695 | 18,761 | 101,665 |
| Executive compensation | 27,000 | 50,500 | 101,909 | 54,000 | 344,835 |
| Product development - related party | 336,014 | ||||
| Research and development | (101) | 2,812 | 62,342 | ||
| Professional fees | 330,162 | 38,179 | 489,527 | 51,219 | 1,804,822 |
| Total operating expenses | 367,973 | 94,008 | 616,943 | 123,980 | 2,649,678 |
| Other expenses: | |||||
| Interest expense - related party | (10,869) | (506) | (21,660) | (15,054) | (59,330) |
| Interest expense | (1,015) | (1,920) | (2,989) | (24,662) | (31,491) |
| Total other expenses | (11,884) | (2,426) | (24,649) | (39,716) | (90,821) |
| Net loss | $ (379,857) | $ (96,434) | $ (641,592) | $ (163,696) | $ (2,740,499) |
| Net loss per common share - basic | $ (0.06) | $ (0.03) | $ (0.10) | $ (0.09) | |
| Weighted average number of common shares outstanding - basic | 6,838,889 | 3,079,188 | 6,685,913 | 1,746,862 | |