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Consolidated Balance Sheets (Unaudited) (USD $) | Mar. 31, 2014 | Dec. 31, 2013
--- | --- | ---
Current Assets: |  |
Cash and cash equivalents | $ 5,877,781 | $ 5,533,366
Prepaid expenses and other current assets | 667,911 | 218,389
Total Current Assets | 6,545,692 | 5,751,755
Property and equipment, net of accumulated depreciation | 14,214 | 13,920
Total Assets | 6,559,906 | 5,765,675
Current Liabilities: |  |
Accounts payable and accrued expenses | 615,272 | 378,955
Accounts payable and accrued expenses - related party | 189,537 | 81,185
Notes payable | 94,481 | 157,825
Derivative liabilities | 19,128,761 | 6,707,255
Total Current Liabilities | 20,028,051 | 7,325,220
Commitments and contingencies |  |
Stockholders' Deficit: |  |
Preferred stock, $0.01 par value; 50,000,000 authorized 0 issued and outstanding |  |
Common stock, $0.01 par value; 200,000,000 shares authorized; 25,562,346 and 24,565,447 shares issued and outstanding, respectively | 25,562 | 24,565
Additional paid-in capital | 69,723,045 | 64,933,145
Deficit accumulated during the development stage | (83,216,752) | (66,517,255)
Total Stockholders' Deficit | (13,468,145) | (1,559,545)
Total Liabilities and Stockholders' Deficit | $ 6,559,906 | $ 5,765,675

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