v2.3.0.11
Condensed Conolidated Statements of Cash Flows (USD $)
6 Months Ended 154 Months Ended
Jun. 30, 2011
Jun. 30, 2010
Jun. 30, 2011
OPERATING ACIVITIES      
Net loss $ (3,327,728) $ (1,092,970) $ (35,583,125)
Depreciation   309 52,694
Disposal of equipment   4,066 36,623
Stock-based compensation-development costs     528,618
Stock-based compensation-interest expenses 1,973,467 409,512 7,518,351
Stock-based compensation-general and administration 209,888   3,202,827
Other non-cash items included in net loss 46,151   338,985
Non-cash imputed interest expenses 91,828 95,141 2,910,395
Equity instruments issued to settle liabilities     1,871,718
Decrease in receivables     8,727
Increase in prepaid expenses (304,287) (5,647) (304,287)
Increase (decrease) in accounts payable and accrued liabilities (5,535) (20,461) 1,309,082
Increase (decrease) in advances payable (1,108) 87,824 3,216,244
Increase in interest payable 252,783 259,269 3,525,258
Net cash used in operating activities (1,064,541) (262,957) (11,367,890)
INVESTING ACTIVITIES      
Purchase of equipment     (43,078)
Net cash used in investing activities     (43,078)
FINANCING ACTIVITIES      
Other financing activities     (115,472)
Expenditures to repurchase shares     (342,038)
Proceeds from issuance of shares     1,512,403
Repayment of promissory notes payable     (970,879)
Proceeds from borrowings on line of credit and bank loans 1,067,655,000,000 262,753,000,000 1,953,057,000,000
Proceeds from issuance of promissory notes payable     9,378,840
Net cash provided by financing activities 1,067,655 262,753 11,415,911
Net increase (decrease) in cash 3,114 (204) 4,943
Cash, beginning of period 1,829 658  
Cash, end of period 4,943 454 4,943
Shares issued to settle liabilities     6,807,473
Cash paid for interest expenses   $ 2,297 $ 1,223,335