v2.4.0.8

CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012
--- | --- | ---
Current Assets |  |
Cash | $ 153,542 | $ 42,948
Prepaid expenses | 56,588 | 97,541
Total Current Assets | 210,130 | 140,489
Intangible assets | 1,650 | 1,650
Deposit | 3,125 | 3,125
Total Assets | 214,905 | 145,264
Current Liabilities |  |
Accounts payable | 89,327 | 28,326
Accrued expenses | 164,960 | 57,854
Share issuance liability | 0 | 5,800
Accrued dividends on preferred stock | 439,510 | 198,432
Derivative liabilities | 1,248,943 | 730,174
Total Current Liabilities | 1,942,740 | 1,020,586
Convertible note payable (net of debt discount of $334,209 as of December 31, 2013) | 550,791 | 0
Total Liabilities | 2,493,531 | 1,020,586
Commitments and Contingencies |  |
Stockholders' Deficiency |  |
Common stock, $0.001 par value; 200,000,000 shares authorized; 16,344,728 and 16,225,000 issued and outstanding as of December 31, 2013 and 2012, respectively | 16,345 | 16,225
Additional paid-in-capital | 2,127,556 | 2,059,872
Deficit accumulated during the development stage | (4,424,630) | (2,953,622)
Total Stockholders' Deficiency | (2,278,626) | (875,322)
Total Liabilities and Stockholders' Deficiency | 214,905 | 145,264
Series A Preferred Stock [Member] |  |
Stockholders' Deficiency |  |
Preferred stock | 2,100 | 2,200
Series B Preferred Stock [Member] |  |
Stockholders' Deficiency |  |
Preferred stock | $ 3 | $ 3

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