Quarterly report pursuant to sections 13 or 15(d)

Balance Sheets

v2.3.0.11
Balance Sheets (USD $)
Jun. 30, 2012
Dec. 31, 2011
Current assets:    
Cash $ 31,761 $ 17,666
Prepaid expenses 52,748 35,435
Accounts receivable 13,029 17,000
Total current assets 97,538 70,101
Net property and equipment 6,939 9,809
Deposits-other 2,315 2,315
Total Assets 106,792 82,225
Current liabilities:    
Current maturities of convertible debentures payable, net of original issue discount of $3,667 46,333  
Warrant exercise advances 266,951 16,542
Accounts payable 252,349 698,131
Accrued salaries 18,938 13,189
Accrued interest on debentures 4,875 1,799
Total current liabilities 589,446 729,661
Convertible debentures payable 109,880 113,444
Long term debt 109,880 113,444
Total Liabilities 699,326 843,105
Common stock subject to put rights and call right, 1,685,714 shares 485,649 485,649
Stockholders' deficiency:    
Common stock $.0002 par, 1,500,000,000 shares authorized; 37,884,514 and 32,928,654 shares issued and outstanding at June 30, 2012 and December 31, 2011, respectively 7,577 6,586
Additional paid-in capital 16,180,983 15,168,005
Deficit accumulated during development stage (17,266,743) (16,421,120)
Total Stockholders' Deficiency (1,078,183) (1,246,529)
Total Liabilities and Stockholders' Deficiency $ 106,792 $ 82,225