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Liquidity and Financial Condition
3 Months Ended
Mar. 31, 2012
Liquidity and Financial Condition [Abstract]  
Liquidity and Financial Condition [Text Block]
2.           Liquidity and Financial Condition
 
Since inception, the Company has generated losses from operations and the Company anticipates it will continue to generate losses from operations for the foreseeable future. As of March 31, 2012, the Company’s stockholders’ deficiency was approximately $92,000. Net cash used in operating activities was $539,215 for the three months ended March 31, 2012. Operations since inception have been funded with the proceeds from equity and debt financings and sales activity. As of March 31, 2012, the Company had cash and cash equivalents of $456,125.  As of May 8, 2012, the Company had cash and cash equivalents of approximately $356,000 and cash of $220,000 held in the Company’s private placement escrow account.  
 
The Company has incurred additional losses subsequent to the date of this report. It is anticipated that existing capital resources will enable the Company to continue operations through at least May 31, 2013.  However, the Company will require additional capital in order to execute the long term aspects of the Company’s business plan. If the Company is unable to raise additional capital or encounters unforeseen circumstances that place constraints on its capital recourses, the Company will be required to take various measures to conserve liquidity, which could include, but not necessarily be limited to, curtailing its business development activities or suspending the pursuit of its business plan.
 
The Company has identified cost reduction measures which when implemented would result in a reduction in employee headcount, reduction in base salaries to senior executives and employees, and other cost savings measures.  These actions are expected to result in annual cost savings which should start to be realized in the third quarter of 2012.   Additionally, subsequent to March 31, 2012, $73,888 of accrued compensation and related costs were forgiven by two employees of the Company.