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OTHER CURRENT ASSETS

6 Months Ended

Jun. 30, 2013

Other Current Assets

OTHER CURRENT ASSETS

NOTE 4 – OTHER CURRENT ASSETS

Other current assets consist of the following:

		June 30, 2013				December 31, 2012
Prepaid research and development costs		$	1,686,254			$	189,375
Deferred financing costs			1,051,988				-0-
Prepaid consulting			541,936				432,216
Other receivables-related party (Note 12)			171,261				-0-
Prepaid insurance			125,266				127,403
Other prepaid costs			30,578				-0-
Prepaid guaranty costs			-0-				2,944
TOTAL OTHER CURRENT ASSETS		$	3,607,283			$	751,938

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