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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
6 Months Ended 12 Months Ended 161 Months Ended 167 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2011
Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES            
Net loss $ (2,684,681) $ (596,778) $ (953,936) $ (2,531,228) $ (18,420,733) $ (21,105,414)
Adjustments to reconcile net loss to net cash used in operating activities:            
Estimated fair value of contributed services 0 0 0 0 2,475,000 2,475,000
Gain on forgiveness of liabilities 0 0 (60,292) (26,299) (176,505) (176,505)
Amortization of prepaid consulting fees 0 0 0 235,600 807,608 807,608
Depreciation 1,247 338 338 1,056 3,154 4,401
Loss from extinguishment of debt 1,195,410 0 0 0 0 1,195,410
Non-cash interest on notes payable 24,658 37,191 75,000 55,479 1,706,234 1,730,892
Stock-based compensation 848,038 112,364 192,153 680,195 2,128,816 2,976,854
Payments made on behalf of Company by related party 0 0 254,142 0 254,142 254,142
Changes in assets and liabilities:            
Prepaid consulting costs 0 0 0 0 (140,000) (140,000)
Prepaid expenses and other current assets (31,148) (10,289) 45,695 20,425 (14,797) (45,945)
Accounts payable and accrued expenses 117,156 102,430 144,980 (607,382) 308,526 425,682
Accrued Phase three expenses 0 0 0 (231,762) 111,871 111,871
Accrued payroll 11,915 48,835 (9,240) 25,605 86,591 98,506
Deferred revenue (100,000) 20,000 20,000 80,000 100,000 0
NET CASH USED IN OPERATING ACTIVITIES (617,405) (285,909) (291,160) (2,298,311) (10,770,093) (11,387,498)
CASH FLOWS FROM INVESTING ACTIVITIES            
Purchases of fixed assets (15,308) 0 0 0 (3,154) (18,462)
NET CASH USED IN INVESTING ACTIVITIES (15,308) 0 0 0 (3,154) (18,462)
CASH FLOWS FROM FINANCING ACTIVITIES            
Proceeds from issuance of notes payable to related party 450,000 0 300,000 0 526,300 976,300
Proceeds received in connection with debt modification 50,000 0 0 0 0 50,000
Proceeds from issuance of preferred stock 0 0 100,000 0 100,000 100,000
Proceeds from notes payable 0 0 0 1,000,000 2,500,000 2,500,000
Preferred stock deemed dividend paid at conversion (200,000) 0 0 0 0 (200,000)
Cash advances from related party 0 0 27,537 0 27,537 27,537
Repayment of advances from related party 0 0 (281,679) 0 (281,679) (281,679)
Capital contributions 0 0 0 0 168,707 168,707
Net proceeds from purchase of common stock and exercise of warrants and stock options 0 0 0 0 99,450 99,450
Proceeds from issuance of common stock and warrants for cash, net of offering costs 7,933,845 0 0 0 7,779,092 15,712,937
Deferred offering costs (30,000) 0 0 0 0 (30,000)
NET CASH PROVIDED BY FINANCING ACTIVITIES 8,203,845 0 145,858 1,000,000 10,919,407 19,123,252
NET CHANGE IN CASH AND CASH EQUIVALENTS 7,571,132 (285,909) (145,302) (1,298,311) 146,160 7,717,292
CASH AND CASH EQUIVALENTS BALANCES, beginning of period 146,160 291,462 291,462 1,589,773      
CASH AND CASH EQUIVALENTS BALANCES, end of period 7,717,292 5,553 146,160 291,462 146,160 7,717,292
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:            
Issuance of and adjustment to common stock and warrants to consulting firms for prepaid consulting fees 0 0 0 0 432,007 432,007
Deferred offering costs in connection with equity offering recorded in accounts payable 87,732 0 0 0 0 87,732
Conversion of related party accounts payable into common stock 56,087 0 0 0 0 56,087
Conversion of notes payable and accrued interest into common stock 1,905,137 0 0 0 1,530,177 3,435,314
Forgiveness of notes payable and accrued interest to stockholders 0 0 0 0 241,701 241,701
Conversion of advances to notes payable to stockholders 0 0 0 0 196,300 196,300
Accretion of preferred stock discount 0 0 100,000 0 100,000 100,000
Related party acquisition of Phase three liabilities 0 0 56,087 0 56,087 56,087
Conversion of preferred stock into common stock $ 7,499 $ 0 $ 0 $ 0 $ 0 $ 7,499