v2.4.0.6
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2013
Dec. 31, 2012
Current assets    
Cash $ 692,720 $ 835,471
Prepaid research and development expenses 5,960 11,221
Deferred financing costs 201,490 257,886
Other prepaid expenses and current assets 50,012 30,677
Total current assets 950,182 1,135,255
Property and equipment, net 4,125 4,668
Security deposit 13,342 13,342
TOTAL ASSETS 967,649 1,153,265
Current liabilities    
Accounts payable 1,312,346 1,023,553
Accrued expenses 306,984 306,983
Accrued interest, related parties 15,077 16,175
Senior convertible notes, net of debt discount of $456,533 at March 31, 2013 and $647,939 at December 31, 2012 207,467 16,061
Senior convertible notes - related parties, net of debt discount of $268,961 at March 31, 2013 and $406,316 at December 31, 2012 391,039 253,684
Total current liabilities 2,232,913 1,616,456
Deferred rent 10,953 12,185
TOTAL LIABILITIES 2,243,866 1,628,641
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' DEFICIT    
Preferred stock - $0.001 par value: 2,000,000 shares authorized, 287,324 and 0 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively 287 0
Common stock - $0.001 par value: 80,000,000 shares authorized, 11,882,379 and 11,408,274 shares issued and outstanding at March 31, 2013 and December 31, 2012, respectively 11,882 11,408
Deferred stock issuances (146) (146)
Additional paid-in capital 46,522,547 45,886,596
Deficit accumulated during the development stage (47,810,787) (46,373,234)
TOTAL STOCKHOLDERS' DEFICIT (1,276,217) (475,376)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 967,649 $ 1,153,265