0001437491 mglt:PreMergerMember us-gaap:MaximumMember 2008-03-31 0001437491 mglt:PreMergerMember us-gaap:MinimumMember 2008-03-31 0001437491 2007-11-20 2008-03-31 0001437491 us-gaap:CommonStockMember 2007-11-20 2008-03-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2007-11-20 2008-03-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2007-11-20 2008-03-31 0001437491 us-gaap:RetainedEarningsMember 2007-11-20 2008-03-31 0001437491 2008-04-01 2009-03-31 0001437491 us-gaap:CommonStockMember 2008-04-01 2009-03-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2008-04-01 2009-03-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2008-04-01 2009-03-31 0001437491 us-gaap:RetainedEarningsMember 2008-04-01 2009-03-31 0001437491 2009-04-01 2009-12-31 0001437491 us-gaap:CommonStockMember 2009-04-01 2009-12-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2009-04-01 2009-12-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2009-04-01 2009-12-31 0001437491 us-gaap:RetainedEarningsMember 2009-04-01 2009-12-31 0001437491 us-gaap:RetainedEarningsMember mglt:April2009Through30December2009Member 2009-04-01 2009-12-31 0001437491 us-gaap:RetainedEarningsMember mglt:December2009Through31December2009Member 2009-04-01 2009-12-31 0001437491 mglt:April2009Through30December2009Member 2009-04-01 2009-12-31 0001437491 mglt:December2009Through31December2009Member 2009-04-01 2009-12-31 0001437491 mglt:PostMergerMember 2009-04-01 2009-12-31 0001437491 2009-12-31 0001437491 us-gaap:WarrantMember 2009-12-31 0001437491 mglt:PlacementAgentWarrantsMember 2009-12-31 0001437491 us-gaap:ConvertibleDebtMember 2009-12-31 0001437491 mglt:OriginalIssueDiscountSeniorSecuredConvertiblePromissoryNotesTranche3Member 2009-12-31 0001437491 mglt:PostMergerMember 2010-02-01 2010-02-28 0001437491 mglt:PostMergerMember 2010-03-01 2010-03-10 0001437491 mglt:PostMergerMember 2010-11-01 2010-11-22 0001437491 2010-01-01 2010-12-31 0001437491 us-gaap:CommonStockMember 2010-01-01 2010-12-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2010-01-01 2010-12-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2010-01-01 2010-12-31 0001437491 us-gaap:RetainedEarningsMember 2010-01-01 2010-12-31 0001437491 mglt:PostMergerMember 2011-02-01 2011-02-10 0001437491 mglt:PostMergerMember 2011-04-01 2011-04-30 0001437491 mglt:WarrantForPublicRelationServicesMember 2011-08-15 0001437491 mglt:WarrantForPublicRelationServicesMember 2011-08-01 2011-08-15 0001437491 2011-07-01 2011-09-30 0001437491 2011-01-01 2011-09-30 0001437491 us-gaap:LicensingAgreementsMember mglt:MagnoliaOpticalTechnologiesMember 2011-01-01 2011-09-30 0001437491 us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember mglt:CustomerMember 2011-01-01 2011-09-30 0001437491 us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember mglt:CustomersBMember 2011-01-01 2011-09-30 0001437491 mglt:SalesRevenueGoodsAndServicesNetMember us-gaap:CustomerConcentrationRiskMember mglt:CustomerMember 2011-01-01 2011-09-30 0001437491 mglt:SalesRevenueGoodsAndServicesNetMember us-gaap:CustomerConcentrationRiskMember mglt:CustomersBMember 2011-01-01 2011-09-30 0001437491 mglt:SalesRevenueGoodsAndServicesNetMember us-gaap:CustomerConcentrationRiskMember mglt:CustomerCMember 2011-01-01 2011-09-30 0001437491 us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember mglt:CustomerCMember 2011-01-01 2011-09-30 0001437491 mglt:PostMergerMember 2011-10-01 2011-10-11 0001437491 us-gaap:ConvertibleDebtMember 2011-12-29 0001437491 mglt:OriginalIssueDiscountSeniorSecuredConvertiblePromissoryNotesTranche1Member 2011-12-29 0001437491 mglt:OriginalIssueDiscountSeniorSecuredConvertiblePromissoryNotesTranche2Member 2011-12-29 0001437491 mglt:OriginalIssueDiscountSeniorSecuredConvertiblePromissoryNotesTranche3Member 2011-12-29 0001437491 mglt:PostMergerMember us-gaap:ConvertibleDebtMember 2011-12-29 0001437491 us-gaap:ConvertibleDebtMember 2011-12-01 2011-12-29 0001437491 mglt:OriginalIssueDiscountSeniorSecuredConvertiblePromissoryNotesTranche1Member 2011-12-01 2011-12-29 0001437491 mglt:OriginalIssueDiscountSeniorSecuredConvertiblePromissoryNotesTranche3Member 2011-12-01 2011-12-29 0001437491 mglt:PostMergerMember us-gaap:ConvertibleDebtMember 2011-12-01 2011-12-29 0001437491 2011-01-01 2011-12-31 0001437491 us-gaap:CommonStockMember 2011-01-01 2011-12-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2011-01-01 2011-12-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2011-01-01 2011-12-31 0001437491 us-gaap:RetainedEarningsMember 2011-01-01 2011-12-31 0001437491 us-gaap:ConvertibleDebtMember 2011-01-01 2011-12-31 0001437491 2011-12-31 0001437491 mglt:WarrantForPublicRelationServicesMember 2011-12-31 0001437491 us-gaap:OfficeEquipmentMember 2011-12-31 0001437491 us-gaap:FurnitureAndFixturesMember 2011-12-31 0001437491 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2011-12-31 0001437491 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2011-12-31 0001437491 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2011-12-31 0001437491 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2011-12-31 0001437491 mglt:PostMergerMember 2012-04-01 2012-04-30 0001437491 mglt:PostMergerMember 2012-05-01 2012-05-30 0001437491 mglt:PostMergerMember 2012-06-01 2012-06-30 0001437491 mglt:PostMergerMember 2012-07-01 2012-07-10 0001437491 mglt:PostMergerMember 2012-07-01 2012-07-31 0001437491 2012-07-01 2012-09-30 0001437491 2012-01-01 2012-09-30 0001437491 us-gaap:CommonStockMember 2012-01-01 2012-09-30 0001437491 us-gaap:AdditionalPaidInCapitalMember 2012-01-01 2012-09-30 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2012-01-01 2012-09-30 0001437491 us-gaap:RetainedEarningsMember 2012-01-01 2012-09-30 0001437491 us-gaap:LicensingAgreementsMember mglt:MagnoliaOpticalTechnologiesMember 2012-01-01 2012-09-30 0001437491 us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember mglt:CustomerMember 2012-01-01 2012-09-30 0001437491 us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember mglt:CustomersBMember 2012-01-01 2012-09-30 0001437491 mglt:SalesRevenueGoodsAndServicesNetMember us-gaap:CustomerConcentrationRiskMember mglt:CustomerMember 2012-01-01 2012-09-30 0001437491 mglt:SalesRevenueGoodsAndServicesNetMember us-gaap:CustomerConcentrationRiskMember mglt:CustomersBMember 2012-01-01 2012-09-30 0001437491 mglt:WarrantForPublicRelationServicesMember 2012-01-01 2012-09-30 0001437491 us-gaap:ConvertibleDebtMember 2012-01-01 2012-09-30 0001437491 mglt:SalesRevenueGoodsAndServicesNetMember us-gaap:CustomerConcentrationRiskMember mglt:CustomerCMember 2012-01-01 2012-09-30 0001437491 us-gaap:AccountsReceivableMember us-gaap:CustomerConcentrationRiskMember mglt:CustomerCMember 2012-01-01 2012-09-30 0001437491 2012-09-30 0001437491 us-gaap:LicensingAgreementsMember mglt:MagnoliaOpticalTechnologiesMember 2012-09-30 0001437491 us-gaap:ConvertibleDebtMember 2012-09-30 0001437491 us-gaap:OfficeEquipmentMember 2012-09-30 0001437491 us-gaap:FurnitureAndFixturesMember 2012-09-30 0001437491 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2012-09-30 0001437491 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2012-09-30 0001437491 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2012-09-30 0001437491 us-gaap:FairValueMeasurementsRecurringMember us-gaap:EstimateOfFairValueFairValueDisclosureMember 2012-09-30 0001437491 2008-01-08 2012-09-30 0001437491 2012-11-01 0001437491 us-gaap:SubsequentEventMember us-gaap:IssuanceOfEquityMember 2012-11-02 2012-11-06 0001437491 2007-11-19 0001437491 2008-03-31 0001437491 us-gaap:CommonStockMember 2007-11-19 0001437491 us-gaap:CommonStockMember 2008-03-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2007-11-19 0001437491 us-gaap:AdditionalPaidInCapitalMember 2008-03-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2007-11-19 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2008-03-31 0001437491 us-gaap:RetainedEarningsMember 2007-11-19 0001437491 us-gaap:RetainedEarningsMember 2008-03-31 0001437491 2009-03-31 0001437491 us-gaap:CommonStockMember 2009-03-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2009-03-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2009-03-31 0001437491 us-gaap:RetainedEarningsMember 2009-03-31 0001437491 us-gaap:CommonStockMember 2009-12-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2009-12-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2009-12-31 0001437491 us-gaap:RetainedEarningsMember 2009-12-31 0001437491 2010-12-31 0001437491 us-gaap:CommonStockMember 2010-12-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2010-12-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2010-12-31 0001437491 us-gaap:RetainedEarningsMember 2010-12-31 0001437491 2011-09-30 0001437491 us-gaap:CommonStockMember 2011-12-31 0001437491 us-gaap:AdditionalPaidInCapitalMember 2011-12-31 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2011-12-31 0001437491 us-gaap:RetainedEarningsMember 2011-12-31 0001437491 us-gaap:ConvertibleDebtMember 2010-12-31 0001437491 us-gaap:ConvertibleDebtMember 2011-12-31 0001437491 us-gaap:CommonStockMember 2012-09-30 0001437491 us-gaap:AdditionalPaidInCapitalMember 2012-09-30 0001437491 mglt:AdditionalPaidInCapitalWarrantsMember 2012-09-30 0001437491 us-gaap:RetainedEarningsMember 2012-09-30 0001437491 2008-01-07 xbrli:shares iso4217:USD iso4217:USDxbrli:shares xbrli:pure mglt:Units iso4217:USDmglt:Units Magnolia Solar Corp 0001437491 mglt Yes No --12-31 Smaller Reporting Company 27467825 10-Q 2012-09-30 false 2012 Q3 255862 168536 430585 293861 247110 307279 1417 1417 504389 477232 4084 2324 225783 199046 225783 199046 734256 678602 316517 424143 2000000 2000000 2316517 2424143 400000 400000 2716517 2824143 26670 27468 1029080 1628282 962297 962297 4000308 4763588 1012404 -1982261 -2145541 48523 4474 48526 -4477 17408 4474 48526 -35592 23830 337670 867806 -216902 -448871 23930 420070 867806 -1760677 26670 1029080 962297 -4000308 27468 1628282 962297 -4763588 734256 678602 0.02 0.01 0.001 0.001 75000000 75000000 26670000 27467825 26670000 27467825 4473686 4473686 23830000 23930000 26670000 27467825 147412 520000 205030 492761 1908435 92016 281203 132505 319526 1190851 55396 238797 72525 173235 717584 60107 165861 46813 135880 524286 112276 245578 280298 705206 1364881 100503 281746 9498 28497 773194 13401 40723 11100 37129 704855 286287 733908 347709 906712 3367216 310843 865025 9948 29803 2113956 -310843 -865025 -9948 -29803 -2113956 -4477 -4477 -31115 -31115 -5719 -49440 -5719 -49440 -1543775 -1543775 -1360136 -2239631 -2239631 -763280 -763280 -4763588 24230000 24121026 27660475 26987575 -0.02 -0.06 -0.01 -0.03 53000 15000 1974 13026 273000 4473686 1973685 1300000 38000 2500 35500 2500001 82500 100 82400 78750 400 78350 580000 580 579420 100000 400000 580000 260000 1040 258960 1040000 1040000 1040000 273000 1300 271700 1300000 182349 19356 289144 -126151 19356314 412830 412830 454976 454976 94491 94491 20000 218 19782 217825 124238 281746 28497 773194 63750 580000 741250 273000 59534 94491 865025 2082830 104298 60169 307278 1417 57655 107626 424142 1223412 675954 4100212 -136724 -87326 -663376 8288 154800 -163088 5000 70000 70000 990000 995000 -136724 -87326 168536 1371 63750 580000 741250 273000 260000 865025 2082830 <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold; ; font-family: times new roman,times;" size="2">Note 1 &#8211; Organization and Nature of Business</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2"><font style="display: inline; text-decoration: underline;">Nature of Business</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">The unaudited financial statements included herein have been prepared, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;).&#160;&#160;The financial statements and notes are presented as permitted on Form 10-Q and do not contain information included in the Company&#8217;s annual statements and notes.&#160;&#160;Certain information and footnote disclosure normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although the Company believes that the disclosures are adequate to make the information presented not misleading.&#160;&#160;It is suggested that these financial statements be read in conjunction with the December 31, 2011 Form 10-K filed with the SEC, including the audited financial statements and the accompanying notes thereto.&#160;&#160;While management believes the procedures followed in preparing these financial statements are reasonable, the accuracy of the amounts are in some respects dependent upon the facts that will exist, and procedures that will be accomplished by the Company later in the year.</font></div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">These unaudited financial statements reflect all adjustments, including normal recurring adjustments which, in the opinion of management, are necessary to present fairly the operations and cash flows for the periods presented.</font></div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">Magnolia Solar Corporation (the &#8220;Registrant&#8221;) through its wholly owned subsidiary, Magnolia Solar, Inc. (&#8220;Magnolia Solar&#8221; and together with the Registrant, &#8220;we,&#8221; &#8220;our,&#8221; &#8220;us,&#8221; or the &#8220;Company&#8221;) is a development stage company focused on developing and commercializing thin film solar cell technologies that employ nanostructured materials and designs.</font></div> <div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">The Company is pioneering the development of thin film, high efficiency solar cells for applications such as power generation for electrical grids as well as for local applications, including lighting, heating, traffic control, irrigation, water distillation, and other residential, agricultural and commercial uses.</font></div> <div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">The Company&#8217;s technology takes multiple approaches to bringing cell efficiencies close to those realized in silicon based solar cells while also lowering manufacturing costs.&#160;&#160;The technology uses a different composition of materials than those used by competing thin film cell manufacturers; incorporates additional layers of material to absorb a wider spectrum of light; uses inexpensive substrate materials, such as glass and polymers, lowering the cost of the completed cell compared to silicon based solar cells; and is based on non-toxic materials that do not have adverse environmental effects.</font></div> <div style="text-align: justify; text-indent: 0pt; display: block;">&#160;</div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">During 2011 and 2012, the Company filed a series of U.S. utility patent applications relating to the technologies under development.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="font-family: times new roman,times;" size="2"><u>Reverse Merger</u></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">On November 19, 2007, the Registrant, formerly known as Mobilis Relocation Services, Inc. (&#8220;Mobilis&#8221;), was organized under the laws of the State of Nevada.&#160;&#160;Mobilis formed Magnolia Solar Acquisition Corp (&#8220;Acquisition Sub&#8221;), a wholly-owned subsidiary incorporated in the State of Delaware.&#160;&#160;Mobilis filed a Certificate of Change to its Articles of Incorporation in order to affect a forward split of the number of authorized shares of common stock which they were authorized to issue, and of the then issued and outstanding shares in a ratio of 1.3157895:1. The forward split occurred in February 2010.&#160;&#160;All share and per share amounts have been reflected herein post-split.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">On December 31, 2009, Mobilis entered into an Agreement of Merger and Plan of Reorganization (the &#8220;Merger Agreement&#8221;) with Magnolia Solar, Inc., a privately held Delaware corporation incorporated on January 8, 2008, and Acquisition Sub.&#160;&#160;Upon closing of the transaction, under the Merger Agreement, Acquisition Sub merged with and into Magnolia Solar, and Magnolia Solar, as the surviving corporation, became a wholly-owned subsidiary of Mobilis.&#160;&#160;Thereafter, Mobilis changed its name to Magnolia Solar Corporation.&#160;&#160;The transaction was accounted for as a reverse merger, and the historical financial information is that of Magnolia Solar, Inc.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2"><font style="display: inline; text-decoration: underline;">Going Concern</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">These consolidated financial statements have been prepared on a going concern basis, which implies the Company will continue to realize its assets and discharge its liabilities in the normal course of business.&#160;&#160;The Company has been generating revenues from various development contracts with governmental agencies, however the Company has generated net losses totaling $763,280 and $1,360,136 for the nine months ended September 30, 2012 and 2011, respectively, and $4,763,588 since January 8, 2008 (Inception). While the Company raised funds in a private placement that it consummated in 2009 (raising $990,000 in $2,660,000 of Original Issue Discount Senior Secured Convertible Promissory Notes (the &#8220;2009 Notes&#8221;)), at September 30, 2012 and December 31, 2011, it had cash of $168,536 and $255,862, respectively, and will need to raise additional funds to carry out its business plan.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">The continuation of the Company as a going concern is dependent upon the ability of the Company to obtain necessary equity financing to continue operations.&#160;&#160;The Company has had limited operating history to date.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">&#160;</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">On December 29, 2011, the 2009 Notes in the aggregate principal amount of $2,660,000 were amended.&#160;&#160;Pursuant to the terms of the amendment agreements, (i) 2009 Notes in the aggregate principal amount of $260,000 converted into an aggregate of 1,040,000 shares of common stock of the Company at an adjusted conversion price of $0.25 per share, (ii) 2009 Notes in the aggregate principal amount of $2,000,000 were amended to extend the maturity dates from December 31, 2011 to December 31, 2012 and 2009 Notes in the aggregate principal amount of the remaining $400,000 were amended to extend the maturity date from December 31, 2011 to December 31, 2013, (iii) 2009 Notes in the aggregate principal amount of $2,000,000 were amended to adjust the conversion price of such notes from $1.00 per share to $0.25 per share, (iv) 2009 Notes in the aggregate principal amount of $400,000 were amended to provide that such notes shall, from January 1, 2012 onwards, bear interest at the rate of 10% per annum payable on a quarterly basis, upon conversion and at maturity and that such interest may, at the option of the Company, be paid in cash or in shares of common stock of the Company at the interest conversion rate of 90% of the volume weighted average price of the common stock of the Company during the 20 trading days prior to the interest payment date, (v) an aggregate of 1,300,000 shares of common stock of the Company were issued to certain holders of the 2009 Notes, and (vi) the exercise price of the 2009 Warrants to purchase an aggregate of 3,385,300 shares of common stock was adjusted from $1.25 per share to $0.50 per share.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">On December 31, 2012, 2009 Notes in the aggregate principal amount of $2,000,000 mature while a further $400,000 matures on December 31, 2013. Such indebtedness is secured by substantially all of our assets.&#160;&#160;The Company&#160;intends to negotiate with the holders of the 2009 Notes that mature on December 31, 2012 an extension of the maturity date or an agreement to convert the debt into equity. There can be no assurances that the Company will be successful in reaching satisfactory agreements with holders of the notes or that the Company will reach agreement at all. Furthermore, the Company's ultimate success depends upon&#160;its ability to raise additional capital. There can be no assurance that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to the Company. If&#160;the Company&#160;were to default on&#160;its indebtedness, then holders of the notes may foreclose on the debt and seize&#160;the Company's&#160;assets which may force&#160;the Company&#160;to suspend or cease operations altogether.&#160;&#160;These consolidated financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. These factors raise substantial doubt regarding the ability of the Company to continue as a going concern.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">The Company may need to raise additional capital to expand operations to the point at which the Company can achieve profitability. The terms of equity or debt that may be raised may not be on terms acceptable by the Company. If adequate funds cannot be raised outside of the Company, the Company may suspend or cease operations altogether.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; ; font-family: times new roman,times;" size="2">The development of renewable energy and energy efficiency marks a new era of energy exploration in the United States.&#160;&#160;The Company continues to explore low cost alternatives for energy solutions which are in line with United States government initiatives for renewable energy sources.&#160;&#160;The Company hopes that these factors will mitigate the current unstable factors in the United States economy.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">Note 2 - Summary of Significant Accounting Policies</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Development Stage Company</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The Company is considered to be in the development stage as defined in ASC 915, <font style="font-style: italic; display: inline;">Accounting and Reporting by Development Stage Enterprises.</font> The Company has devoted substantially all of its efforts to the development of their thin film solar cell technology in the development contracts with governmental agencies they have entered into, corporate formation and the raising of capital.&#160;&#160;The Company has generated revenues from agreements entered into in 2011 and 2012 that are for the development of their products and not the sales of their products.&#160;&#160;These contracts are one-time contracts that support the Company's development.&#160;&#160;The Company anticipates emerging from the development stage in 2013 upon completion of the development of their products.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Basis of Accounting</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The financial statements have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Use of Estimates</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.&#160;&#160;Actual results could differ from those estimates.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Accounts Receivable</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">For financial reporting, current earnings are charged and an allowance is credited with a provision for doubtful accounts based on experience.&#160;&#160;Accounts deemed uncollectible are charged against this allowance.&#160;&#160;Receivables are reported on the balance sheet net of such allowance.&#160;&#160;The Company monitors its exposure for credit losses and maintains allowances for anticipated losses.&#160;&#160;The Company believes no allowance for doubtful accounts is necessary at September 30, 2012.&#160;&#160;The Company does not charge interest on past due accounts.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Property and Equipment</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">Property and equipment are stated at cost and are depreciated on a straight-line basis over their estimated useful lives.&#160;&#160;Additions, renewals, and betterments, unless of a minor amount, are capitalized.&#160;&#160;Expenditures for maintenance and repairs are charged to expense as incurred.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Deferred Financing Fees</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The costs incurred in connection with obtaining debt financing will be capitalized as deferred financing costs and amortized using the effective interest method over the term of the debt.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font size="2" style="font-family:times new roman,times"><u>Impairment of Long-Lived Assets</u></font></div> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;"> <div><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;"></font>&#160;</font></div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The Company reviews their recoverability of long-lived assets on a periodic basis whenever events and changes in circumstances have occurred which may indicate a possible impairment.&#160;&#160;The assessment for potential impairment will be based primarily on the Company&#8217;s ability to recover the carrying value of its long-lived assets from expected future cash flows from its operations on an undiscounted basis.&#160;&#160;If such assets are determined to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the fair value of the assets.&#160;&#160;Fixed assets to be disposed of by sale will be carried at the lower of the then current carrying value or fair value less estimated costs to sell.&#160;&#160;The Company&#8217;s management has determined that the fair value of long-lived assets exceeds the book value and thus no impairment charge is necessary as of September 30, 2012.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Fair Value of Financial Instruments</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The carrying amount reported in the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value because of the immediate or short-term maturity of these financial instruments.&#160;&#160;The Company does not utilize derivative instruments.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Income Taxes</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The Company accounts for income taxes utilizing the liability method of accounting.&#160;&#160;Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse.&#160;&#160;Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Cash and Cash Equivalents</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Revenue Recognition</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">Revenue is recognized from private and public sector contracts that are time and material type contracts.&#160;&#160;These revenues are recognized in accordance with ASC 605, "<font style="font-style: italic; display: inline;">Revenue Recognition</font>.&#8221;&#160;&#160;The Company recognizes revenue when; (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) the seller&#8217;s price to the buyer is fixed or determinable and (4) collectability is reasonably assured.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The Company assesses whether fees are fixed or determinable at the time of sale and recognizes revenue if all other revenue recognition requirements are met.&#160;&#160;The Company's standard payment terms are net 30. Payments that extend beyond 30 days from the contract date but that are due within twelve months are generally deemed to be fixed or determinable based on the Company's successful collection history on such arrangements, and thereby satisfy the required criteria for revenue recognition.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Loss Per Share of Common Stock</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">Basic net loss per common share is computed using the weighted average number of common shares outstanding.&#160;&#160;Diluted earnings per share (EPS) include additional dilution from common stock equivalents, such as stock issuable pursuant to the exercise of stock options and warrants.&#160;&#160;Common stock equivalents are not included in the computation of diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive for periods presented.&#160;&#160;The following is a reconciliation of the computation for basic and diluted EPS:</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="center"> <table style="width: 89%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td align="left" valign="bottom" width="72%">&#160;</td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">September 30,</font></div> </td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="11%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">September 30,</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">&#160; </font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">2012</font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">&#160;</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;; font-family:times new roman,times" size="2">2011</font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr> <td align="left" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">Net loss</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">$</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">(&#160;763,280</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">)</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">$</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">(1,360,136</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">)</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">Weighted-average common shares</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">outstanding (Basic)</font></font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">26,987,575</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">24,121,026</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">Weighted-average common stock</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">Equivalents</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Stock options</font></font></td> <td align="left" valign="bottom" width="1%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="text-align: right;" valign="bottom" width="10%"><font size="2" style="font-family:times new roman,times">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 2px; text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Warrants</font></font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%">&#160;</td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font size="2" style="font-family:times new roman,times">&#160;3,785,300</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">3,616,428</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">Weighted-average common shares</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new; font-family:times new roman,times" size="2">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 4px; text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">outstanding (Diluted)</font></font></td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">30,772,875</font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">27,737,454</font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></td> </tr> </table> </div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Uncertainty in Income Taxes</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">The Company follows ASC 740-10, <font style="font-style: italic; display: inline;">Accounting for Uncertainty in Income Taxes.</font> This interpretation requires recognition and measurement of uncertain income tax positions using a &#8220;more-likely-than-not&#8221; approach. ASC 740-10 is effective for fiscal years beginning after December 15, 2006.&#160;&#160;Management has adopted ASC 740-10 for 2008, and they evaluate their tax positions on an annual basis, and has determined that as of September 30, 2012, no additional accrual for income taxes is necessary.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Recently Issued Accounting Standards</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">In May 2011, FASB issued Accounting Standards Update (ASU) No. 2011-04, <font style="font-style: italic; display: inline;">Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS</font>. FASB ASU 2011-04 amends and clarifies the measurement and disclosure requirements of FASB ASC 820 resulting in common requirements for measuring fair value and for disclosing information about fair value measurements, clarification of how to apply existing fair value measurement and disclosure requirements, and changes to certain principles and requirements for measuring fair value and disclosing information about fair value measurements. The new requirements are effective for fiscal years beginning after December 15, 2011. The Company plans to adopt this amended guidance on October 1, 2012 and at this time does not anticipate that it will have a material impact on the Company&#8217;s results of operations, cash flows or financial position.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">&#160;</font></div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2"><font style="display: inline; text-decoration: underline;">Recently Issued Accounting Standards (continued</font>)</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">In June 2011, FASB issued ASU No. 2011-05, <font style="font-style: italic; display: inline;">Presentation of Comprehensive Income</font>, which amends the disclosure and presentation requirements of Comprehensive Income. Specifically, FASB ASU No. 2011-05 requires that all nonowner changes in stockholders&#8217; equity be presented either in 1) a single continuous statement of comprehensive income or 2) two separate but consecutive statements, in which the first statement presents total net income and its components, and the second statement presents total other comprehensive income and its components. These new presentation requirements, as currently set forth, are effective for the Company beginning October 1, 2012, with early adoption permitted. The Company plans to adopt this amended guidance on October 1, 2012 and at this time does not anticipate that it will have a material impact on the Company&#8217;s results of operations, cash flows or financial position.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">In September 2011, FASB issued ASU 2011-08, <font style="font-style: italic; display: inline;">Testing Goodwill for Impairment</font>, which amended goodwill impairment guidance to provide an option for entities to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. After assessing the totality of events and circumstances, if an entity determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, performance of the two-step impairment test is no longer required. This guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, with early adoption permitted. Adoption of this guidance is not expected to have any impact on the Company&#8217;s results of operations, cash flows or financial position.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;; font-family:times new roman,times" size="2">There were other updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on the Company&#8217;s financial position, results of operations or cash flows.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Note 3 - Stockholders&#8217; Equity</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company has 75,000,000 shares of common stock, par value of $0.001 per share authorized.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Shares</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Prior to the Reverse Merger as discussed in Note 1, the Company issued 4,473,686 shares of common stock between January and March 2008 at prices ranging from $0.01 to $0.02 per share for a total of $53,000 cash.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In accordance with the Reverse Merger, the Company cancelled 1,973,684 shares of common stock and issued 21,330,000 shares to the former shareholders of Magnolia Solar, Inc.&#160;&#160;As a result of these transactions, as of December 31, 2009, there were 23,830,000 shares of common stock issued and outstanding.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company effectuated a 1.3157895:1 forward stock split in February 2010, in accordance with the Merger Agreement which resulted in 23,830,000 shares of common stock issued and outstanding.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On March 10, 2010, the Company issued 75,000 shares of common stock at its fair value price ($0.90 per share) for legal services resulting in a value of $67,500.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On November 22, 2010 the Company issued 25,000 shares of common stock in at its fair value price ($0.60 per share) for consulting services in the value of $15,000.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On February 10, 2011 the Company issued 50,000 shares of common stock at its fair value price ($0.37 per share) for consulting services for a value of $18,500.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In April 2011, the Company issued 250,000 shares of common stock at its fair value price ($0.181 per share) for consulting services for a value of $45,250.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On October 11, 2011, the Company issued 100,000 shares of common stock at its fair value price ($0.15 per share) for consulting services for a value of $15,000.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On December 29, 2011, the Company issued 1,040,000 shares upon conversion of the aggregate principal amount of $260,000 of 2009 Notes.&#160;&#160;The Company further issued 1,300,000 shares of common stock at its fair value price ($0.21) in connection with the amendment of the 2009 Notes for a value of $273,000.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In April 2012, the Company issued 230,000 shares of common stock at its contract price for consulting services for a value of $230,000.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In May 2012, the Company issued 109,162 shares of common stock at its fair value price ($0.09 per share) in lieu of interest payment for a value of $10,000.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In June 2012, the Company issued 100,000 shares of common stock at its contract price for consulting services for a value of $100,000.</font></div> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;" > <div >&#160;</div> <div ><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; In July 2012, the Company issued 100,000 shares of common stock at its contract price for consulting services for a value of $100,000.</font></div> </div> <div style="text-indent: 0pt; display: block;"><br />&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="display: inline; font-family: times new roman; font-size: 10pt;">In July 2012, the Company issued 108,663 shares of common stock at its fair value price ($0.09 per share) in lieu of interest payment for a value of $10,000.</font></div> <div style="text-indent: 0pt; display: block;"><br />&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; <font style="display: inline; font-family: times new roman; font-size: 10pt;">In August 2012, the Company issued 150,000 shares of common stock at its contract price for consulting services for a value of $150,000.</font></div> <div style="text-indent: 0pt; display: block;"><br /><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; As of September 30, 2012, the Company had 27,467,825 shares outstanding.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Warrants</font></font></div> <div style="text-align: justify; text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Following the closing of the Reverse Merger in December 2009, the Company issued five-year callable warrants (the &#8220;2009 Warrants&#8221;) to purchase an aggregate of 2,660,000 shares of common stock exercisable at $1.25 per share to investors in a private placement (the &#8220;2009 Private Placement&#8221;) and further issued placement agent warrants to purchase an aggregate of 725,300 shares of common stock exercisable at $1.05 per share. On December 29, 2011, the exercise price of the both the 2009 Warrants and placement agent warrants was reduced to $0.50 per share.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On August 15, 2011, the Company issued 400,000 warrants for public relations services. The warrants vest immediately, and are for a term of 5 years with a strike price of $0.50 per share. The warrants have been valued at $59,534 and are reflected in the consolidated financial statements for the nine months ended September 30, 2012.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">As of September 30, 2012, the following warrants are outstanding:</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-align: left; text-indent: 0pt; margin-left: 36pt; margin-right: 0pt;"> <table style="width: 43%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; December 31, 2008</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="8%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Issued &#8211; in the 26.6 units</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,660,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Issued &#8211; to Placement Agent</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">725,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; December 31, 2009</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,385,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; December 31, 2010</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,385,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Issued &#8211; for public relations</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; December 31, 2011</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,785,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; September 30, 2012</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,785,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Note 4 - Property and Equipment</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;<font style="display: inline; font-family: times new roman; font-size: 10pt;">Property and equipment consisted of the following at September 30, 2012 (unaudited) and December 31, 2011:</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="center"> <table style="width: 65%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="12%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">September 30,</font></font></div> </td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="12%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">December 31,</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="12%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">2012</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="12%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">&#160;2011</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="37%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Office equipment and computers</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">6,106</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">6,106</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 2px;" valign="bottom" width="37%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Furniture and fixtures</font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">2,182</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,182</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">8,288</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">8,288</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 2px;" valign="bottom" width="37%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Accumulated depreciation</font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">(5,964</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(4,204</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 4px;" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">2,324</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">4,084</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> </table> </div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;<font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company incurred $1,760, respectively, in depreciation expense for each of the nine months ended September 30, 2012 and 2011.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;<font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Note 5 - Deferred Financing Costs</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company incurred financing costs of $609,776 in connection with the 2009 Private Placement.&#160;&#160;These costs were capitalized and are charged to amortization expense over the life of the promissory notes.&#160;&#160;Amortization expense for the nine months ended September 30, 2012 and 2011 was $0 and $253,248, respectively.&#160;&#160;As of September 30, 2012, the deferred financing fees are fully amortized.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Note 6 - License Agreement with Related Party</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"></font>&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company has entered into a 10-year, renewable, exclusive license with Magnolia Optical Technologies, Inc. (&#8220;Magnolia Optical&#8221;) on April 30, 2008 for the exclusive rights of the technology related to the application of Optical&#8217;s solar cell technology.&#160;&#160;Magnolia Optical shares common ownership with the Company.</font></div> <div style="text-indent: 0pt; display: block;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font></div> <div style="text-indent: 0pt; display: block;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company is amortizing the license fee of $356,500 over the 120 month term of the Agreement.&#160;&#160;Accumulated amortization as of&#160;September 30, 2012 was $157,454.&#160;&#160;Amortization expense for each of the nine months ended September 30, 2012 and 2011 was $26,737 and&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;$26,738, respectively.&#160;&#160;The Company&#8217;s management has determined that the fair value of the license exceeds the book value and thus no further impairment or amortization is necessary as of September 30, 2012.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Note 7 &#8211; Original Issue Discount Senior Secured Convertible Promissory Note</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Original Notes</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Following the closing of the Reverse Merger in December 2009, the Company issued 26.6 units in the 2009 Private Placement consisting of an aggregate of $2,660,000 of 2009 Notes and 2009 Warrants exercisable into an aggregate of 2,660,000 shares of common stock exercisable at $1.25 per share, for $50,000 per unit for aggregate proceeds to the Company of $990,000.&#160;&#160;In addition, placement agent warrants to purchase an aggregate of 725,300 shares of common stock exercisable at $1.05 per share were issued. The 2009 Notes are secured by a first-priority security interest in the assets of the Company.&#160;&#160;Holders of the 2009 Notes and warrants issued in the 2009 Private Placement also have the right to &#8220;piggyback&#8221; registration of the shares underlying the 2009 Notes and warrants.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Prior to the amendment and restatement of the 2009 Notes, the 2009 Notes were originally due December 31, 2011 and convertible at the option of the holder, into shares of the Company&#8217;s common stock at an initial conversion rate of $1.00 per share.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Amended Notes</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">On December 29, 2011, the Company entered into amendment agreements with holders of the 2009 Notes and 2009 Warrants.&#160;&#160;Pursuant to the terms of the amendment agreements, (i) 2009 Notes in the aggregate principal amount of $260,000 were converted into an aggregate of 1,040,000 shares of common stock of the Company at an adjusted conversion price of $0.25 per share, (ii) 2009 Notes in the aggregate principal amount of $2,000,000 were amended to extend the maturity dates from December 31, 2011 to December 31, 2012 and 2009 Notes in the aggregate principal amount of the remaining $400,000 were amended to extend the maturity date from December 31, 2011 to December 31, 2013, (iii) 2009 Notes in the aggregate principal amount of $2,000,000 were amended to adjust the conversion price of such notes from $1.00 per share to $0.25 per share, (iv) 2009 Notes in the aggregate principal amount of $400,000 were amended to provide that such notes shall, from January 1, 2012 onwards, bear interest at the rate of 10% per annum payable on a quarterly basis, upon conversion and at maturity and that such interest may, at the option of the Company, be paid in cash or in shares of common stock of the Company at the interest conversion rate of 90% of the volume weighted average price of the common stock of the Company during the 20 trading days prior to the interest payment date, (v) an aggregate of 1,300,000 shares of common stock of the Company were issued to certain holders of the 2009 Notes.&#160;&#160;As of September 30, 2012, the Company issued 217,825 shares of its common stock in lieu of interest payments in the aggregate of $20,000 relating to the 2009 Notes in the aggregate principal of $400,000 and accrued interest expense of $10,000 relating to the 2009 Notes in the aggregate principal amount of $400,000 will be paid by the issuance of approximately 124,238 shares of common stock.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;"> <div style="margin-left: 30px;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">As of September 30, 2012, the entire $2,400,000 balance of the amended 2009 Notes remains outstanding.&#160;&#160;In the transaction, the Company recognized a discount of $1,670,000 which was amortized over the original life of the 2009 Notes.&#160;&#160;The discount represented the original issue discount. In addition, the Company determined that the value of the warrants in the transaction of $412,830 as a discount to the 2009 Notes.&#160;&#160;This discount was being amortized as well over the original life of the 2009 Notes.&#160;&#160;The net value of the 2009 Notes of $2,400,000 is included in the consolidated balance sheet at September 30, 2012.&#160;&#160;As of September 30, 2012, $2,000,000 of the 2009 Notes are classified as a current liability and $400,000 as a long-term liability. The modifications made to the debt instruments, did not constitute a material modification under ASC 470-50. The Company recorded the value of the shares as an expense in the consolidated statements of operations for the year ended December 31, 2011.</font></div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Note 8 &#8211; Provision for Income Taxes</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Deferred income taxes are determined using the liability method for the temporary differences between the financial reporting basis and income tax basis of the Company&#8217;s assets and liabilities.&#160;&#160;Deferred income taxes are measured based on the tax rates expected to be in effect when the temporary differences are included in the Company&#8217;s tax return.&#160;&#160;Deferred tax assets and liabilities are recognized based on anticipated future tax consequences attributable to differences between financial statement carrying amounts of assets and liabilities and their respective tax bases.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">As of September 30, 2012, there is no provision for income taxes, current or deferred.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="center"> <table style="width: 46%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="63%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="display: inline; font-weight: bold;">&#160;</font></font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="25%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">September 30, 2012</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="63%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Net operating losses</font></div> </td> <td valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="23%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">818,604</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 2px;" valign="bottom" width="63%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Valuation allowance</font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="23%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(<font style="display: inline;">818,604</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 4px;" valign="bottom" width="63%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="23%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">-</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">At September 30, 2012, the Company had a net operating loss carry forward in the amount of $2,407,658, available to offset future taxable income through 2032.&#160;&#160;The Company established valuation allowances equal to the full amount of the deferred tax assets due to the uncertainty of the utilization of the operating losses in future periods.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">A reconciliation of the Company&#8217;s effective tax rate as a percentage of income before taxes and federal statutory rate for the nine months ended September 30, 2012 is summarized below.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; margin-left: 63pt; margin-right: 0pt;"> <table style="width: 45%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="47%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="22%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td valign="bottom" width="47%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="22%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="47%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Federal statutory rate</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(34.0</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)%</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="47%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">State income taxes, net of federal</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.0</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="47%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Valuation allowance</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">34.0</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="47%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> </table> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Note 9 &#8211; Commitments and Contingencies</font></div> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline; text-decoration: underline;">Office Lease</font></font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company leases office space at two locations that expire between January 31, 2013 and December 31, 2015. Rent expense for the Company&#8217;s facilities for the nine months ended September 30, 2012 and 2011 totaled $13,016 and $13,022, respectively.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The future minimum lease payments due under the above mentioned non-cancelable lease agreements are as follows:</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; margin-left: 54pt; margin-right: 0pt;"> <table style="width: 53%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td align="left" style="border-bottom: 2px solid black;" valign="bottom" width="37%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">Year ending December 31,</font></font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="14%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="14%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="37%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2012 (remaining three months)</font></div> </td> <td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">4,306</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2013</font></font></td> <td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">5,065</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2014</font></font></td> <td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,960</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="37%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2015</font></div> </td> <td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,960</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 4px;" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td align="right" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">17,291</font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="margin-left: 36pt;" ></font><font style="display: inline; text-decoration: underline;">Contract Related Fees</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">As part of the contract to develop its products, the Company has agreed to pay the contractor 1.5% of future New York state manufactured sales, and 5% of future non-New York state manufactured sales until the entire funds paid by the contractor have been repaid, or 15 years, whichever comes first.&#160;&#160;As of September 30, 2012 the Company has $1,808,434 of contract related expenses, all of which will be owed to the contractor, contingent upon the sale of the Company&#8217;s product.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Note 10 - Concentration of Credit Risk</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"></font>&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company maintains its cash in one bank deposit account, which at times may exceed the federally insured limits of $250,000 that exist through December 31, 2013.&#160;&#160;At September 30, 2012, the Company did not have any uninsured deposits.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of accounts receivable.&#160;&#160;The Company extends credit based on the customers&#8217; financial conditions.&#160;&#160;The Company does not require collateral or other security to support customer receivables.&#160;&#160;Credit losses, when realized, have been within the range of management&#8217;s expectations.&#160;&#160;To further reduce credit risk associated with accounts receivable, the Company performs periodic credit evaluations of its customers.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="left" style="text-align: left; text-indent: 0pt; margin-left: 72pt; margin-right: 0pt;"> <table style="width: 58%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="29%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="13%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="13%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Concentrations in Accounts Receivable</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="13%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">September 30, 2012</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="13%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">September 30, 2011</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer A</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">63</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">80</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer B</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">32</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer C</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">18</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="29%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Concentrations in Revenue</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="13%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">September 30, 2012</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="13%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">September 30, 2011</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer A</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">57</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer B</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">40</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">68</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer C</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">19</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;">Note 11 - Fair Value Measurements</font></div> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 72pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 36pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">The Company adopted certain provisions of ASC Topic 820. ASC 820 defines fair value, provides a consistent framework for measuring fair value under generally accepted accounting principles and expands fair value financial statement disclosure requirements. ASC 820&#8217;s valuation techniques are based on observable and unobservable inputs. Observable inputs reflect readily obtainable data from independent sources, while unobservable inputs reflect our market assumptions. ASC 820 classifies these inputs into the following hierarchy:</font></div> <div align="justify" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;">&#160;</div> <div> <table align="center" style="width: 100%; font-family: times new roman; font-size: 10pt;" id="hangingindent" border="0" cellspacing="0" cellpadding="0"> <tr valign="top"> <td style="width: 36pt;"> <div>&#160;</div> </td> <td style="width: 72pt;"> <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Level 1</font></div> </td> <td> <div align="justify"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Quoted prices in active markets for identical assets or liabilities. The Company's Level 1 assets consist of cash and cash equivalents.</font></div> </td> </tr> </table> </div> <div align="justify" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;">&#160;</div> <div> <table align="center" style="width: 100%; font-family: times new roman; font-size: 10pt;" id="aa54d2821-92b4-41fe-bd4f-7bc8921d2698" border="0" cellspacing="0" cellpadding="0"> <tr valign="top"> <td style="width: 36pt;"> <div>&#160;</div> </td> <td style="width: 72pt;"> <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Level 2</font></div> </td> <td> <div align="justify"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</font></div> </td> </tr> </table> </div> <div align="justify" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;">&#160;</div> <div> <table align="center" style="width: 100%; font-family: times new roman; font-size: 10pt;" id="ab3f50961-5367-4348-bf05-cf509b698289" border="0" cellspacing="0" cellpadding="0"> <tr valign="top"> <td style="width: 36pt;"> <div>&#160;</div> </td> <td style="width: 72pt;"> <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Level 3</font></div> </td> <td> <div align="justify"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.</font></div> </td> </tr> </table> </div> <div align="justify" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;">&#160;</div> <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt;" id="pgbrk"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;">&#160;</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 36pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Financial assets and liabilities measured at fair value on a recurring basis are summarized below:</font></div> <div align="justify" style="text-indent: 36pt; margin-right: 18pt; margin-left: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"> <div style="text-align: left; text-indent: 0pt; margin-right: 0pt; margin-left: 36pt;"> <table style="width: 70%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;">September 30, 2012</font></font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="9%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="9%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="9%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="9%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"><font style="display: inline;">Level 1</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"><font style="display: inline;">Level 2 </font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"><font style="display: inline;">Level 3</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"><font style="display: inline;">Total</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> </tr> <tr> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="9%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="9%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="9%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="9%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Cash</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">168,536</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">168,536</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Total assets</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">168,536</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">168,536</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Original Issue Discount</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Senior Secured Convertible</font></font></td> <td valign="bottom" width="1%"></td> <td style="text-align: left;" valign="bottom" width="1%"></td> <td style="text-align: right;" valign="bottom" width="8%"></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td style="text-indent: 9pt;" valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Promissory Notes</font></font></td> <td valign="bottom" width="1%"></td> <td style="text-align: left;" valign="bottom" width="1%"></td> <td style="text-align: right;" valign="bottom" width="8%">-</td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">2,400,000</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Total liabilities</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="26%"> <div align="left" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;">December 31, 2011</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 2px;" valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"><font style="display: inline;">Level 1</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"><font style="display: inline;">Level 2 </font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"><font style="display: inline;">Level 3 </font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"><font style="display: inline;">Total</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Cash</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">255,862</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">255,862</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Total assets</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">255,862</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">255,862</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Original Issue Discount</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Senior Secured Convertible</font></font></td> <td valign="bottom" width="1%"></td> <td style="text-align: left;" valign="bottom" width="1%"></td> <td style="text-align: right;" valign="bottom" width="8%"></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td style="text-indent: 9pt;" valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Promissory Notes</font></font></td> <td valign="bottom" width="1%"></td> <td style="text-align: left;" valign="bottom" width="1%"></td> <td style="text-align: right;" valign="bottom" width="8%">-</td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">2,400,000</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Total liabilities</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> </table> </div> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt;" id="a63748fa5-b699-469c-b5a2-019e8ea98305">&#160;</div> <div align="center" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"> <div style="text-align: left; text-indent: 0pt; margin-right: 0pt; margin-left: 36pt;"> <table style="width: 49%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: center;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: center;" valign="bottom" width="12%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;">Original Issue Discount</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr> <td align="left" valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: center;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: center;" valign="bottom" width="12%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;">Senior Secured Convertible</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;">&#160;</div> </td> <td style="text-align: center; padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: center; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="12%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="font-weight: bold; display: inline;">Promissory Notes</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="12%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Balance, January 1, 2011</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">$</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">1,459,209</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Realized gains/(losses)</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Unrealized gains/(losses) relating to</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">instruments still held at the reporting date</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Purchases, sales, issuances and settlements, net</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Discount on notes</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Amortization of discount on notes</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">1,200,791</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Conversion of notes to common stock</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="display: inline;">(260,000</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;">)</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Balance, December 31, 2011</font></div> </td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 4px; border-bottom-style: double;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">$</font></td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 4px; border-bottom-style: double;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="display: inline;">2,400,000</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Realized gains/(losses)</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Unrealized gains/(losses) relating to</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">instruments still held at the reporting date</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Purchases, sales, issuances and settlements, net</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Discount on notes</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Amortization of discount on notes</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="display: inline;"> -</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">&#160; </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Balance, September 30, 2012</font></div> </td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 4px; border-bottom-style: double;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">$</font></td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 4px; border-bottom-style: double;" valign="bottom" width="11%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"><font style="display: inline;">2,400,000</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> </table> </div> </div> <div style="text-indent: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; font-weight: bold; display: inline;; font-family:times new roman,times" size="2">Note 12 &#8211; Subsequent Events</font></div> <div align="justify" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;">&#160;</div> <div align="left" style="text-indent: 0pt; margin-right: 18pt; margin-left: 36pt; display: block;"><font size="2" style="font-family:times new roman,times">On November 6, 2012, the Company issued 124,238 shares of common stock for payment of interest in lieu of cash.</font></div> <div align="justify" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;">&#160;</div> <div align="left" style="text-indent: 0pt; margin-right: 18pt; margin-left: 36pt; display: block;"><font size="2" style="font-family:times new roman,times">On November <font style="font-family: times new roman; font-size: 10pt;"><font style="font-family: times new roman; font-size: 10pt;">6</font>,</font> 2012, the Company issued 75,000 shares of common stock for consulting services.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Development Stage Company</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;"></font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company is considered to be in the development stage as defined in ASC 915, <font style="font-style: italic; display: inline;">Accounting and Reporting by Development Stage Enterprises.</font> The Company has devoted substantially all of its efforts to the development of their thin film solar cell technology in the development contracts with governmental agencies they have entered into, corporate formation and the raising of capital.&#160;&#160;The Company has generated revenues from agreements entered into in 2011 and 2012 that are for the development of their products and not the sales of their products.&#160;&#160;These contracts are one-time contracts that support the Company's development.&#160;&#160;The Company anticipates emerging from the development stage in 2013 upon completion of the development of their products.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Basis of Accounting</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The financial statements have been prepared on the accrual basis of accounting in accordance with U.S. generally accepted accounting principles.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Use of Estimates</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;"></font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.&#160;&#160;Actual results could differ from those estimates.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Accounts Receivable</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">For financial reporting, current earnings are charged and an allowance is credited with a provision for doubtful accounts based on experience.&#160;&#160;Accounts deemed uncollectible are charged against this allowance.&#160;&#160;Receivables are reported on the balance sheet net of such allowance.&#160;&#160;The Company monitors its exposure for credit losses and maintains allowances for anticipated losses.&#160;&#160;The Company believes no allowance for doubtful accounts is necessary at September 30, 2012.&#160;&#160;The Company does not charge interest on past due accounts.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Property and Equipment</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Property and equipment are stated at cost and are depreciated on a straight-line basis over their estimated useful lives.&#160;&#160;Additions, renewals, and betterments, unless of a minor amount, are capitalized.&#160;&#160;Expenditures for maintenance and repairs are charged to expense as incurred.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Deferred Financing Fees</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;"></font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The costs incurred in connection with obtaining debt financing will be capitalized as deferred financing costs and amortized using the effective interest method over the term of the debt.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Impairment of Long-Lived Assets</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;"></font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company reviews their recoverability of long-lived assets on a periodic basis whenever events and changes in circumstances have occurred which may indicate a possible impairment.&#160;&#160;The assessment for potential impairment will be based primarily on the Company&#8217;s ability to recover the carrying value of its long-lived assets from expected future cash flows from its operations on an undiscounted basis.&#160;&#160;If such assets are determined to be impaired, the impairment recognized is the amount by which the carrying value of the assets exceeds the fair value of the assets.&#160;&#160;Fixed assets to be disposed of by sale will be carried at the lower of the then current carrying value or fair value less estimated costs to sell.&#160;&#160;The Company&#8217;s management has determined that the fair value of long-lived assets exceeds the book value and thus no impairment charge is necessary as of September 30, 2012.</font></div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Fair Value of Financial Instruments</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;"></font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The carrying amount reported in the consolidated balance sheets for cash and cash equivalents, accounts receivable, accounts payable, and accrued expenses approximate fair value because of the immediate or short-term maturity of these financial instruments.&#160;&#160;The Company does not utilize derivative instruments.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Income Taxes</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;"></font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company accounts for income taxes utilizing the liability method of accounting.&#160;&#160;Under the liability method, deferred taxes are determined based on differences between financial statement and tax bases of assets and liabilities at enacted tax rates in effect in years in which differences are expected to reverse.&#160;&#160;Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are expected to be realized.</font></div> <div align="justify" style="text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Cash and Cash Equivalents</font></font></div> <div align="justify" style="text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;"></font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company considers all highly liquid debt instruments and other short-term investments with maturity of three months or less, when purchased, to be cash equivalents.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Revenue Recognition</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Revenue is recognized from private and public sector contracts that are time and material type contracts.&#160;&#160;These revenues are recognized in accordance with ASC 605, "<font style="font-style: italic; display: inline;">Revenue Recognition</font>.&#8221;&#160;&#160;The Company recognizes revenue when; (1) persuasive evidence of an arrangement exists; (2) delivery has occurred or services have been rendered; (3) the seller&#8217;s price to the buyer is fixed or determinable and (4) collectability is reasonably assured.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company assesses whether fees are fixed or determinable at the time of sale and recognizes revenue if all other revenue recognition requirements are met.&#160;&#160;The Company's standard payment terms are net 30. Payments that extend beyond 30 days from the contract date but that are due within twelve months are generally deemed to be fixed or determinable based on the Company's successful collection history on such arrangements, and thereby satisfy the required criteria for revenue recognition.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Loss Per Share of Common Stock</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Basic net loss per common share is computed using the weighted average number of common shares outstanding.&#160;&#160;Diluted earnings per share (EPS) include additional dilution from common stock equivalents, such as stock issuable pursuant to the exercise of stock options and warrants.&#160;&#160;Common stock equivalents are not included in the computation of diluted earnings per share when the Company reports a loss because to do so would be anti-dilutive for periods presented.&#160;&#160;The following is a reconciliation of the computation for basic and diluted EPS:</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="center"> <table style="width: 89%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td align="left" valign="bottom" width="72%">&#160;</td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">September 30,</font></div> </td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="11%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">September 30,</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160; </font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">2012</font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">2011</font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td align="left" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Net loss</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(&#160;763,280</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(1,360,136</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Weighted-average common shares</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">outstanding (Basic)</font></font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">26,987,575</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">24,121,026</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Weighted-average common stock</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Equivalents</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Stock options</font></font></td> <td align="left" valign="bottom" width="1%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="text-align: right;" valign="bottom" width="10%">-</td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 2px; text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Warrants</font></font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%">&#160;</td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%">&#160;3,785,300</td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,616,428</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Weighted-average common shares</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 4px; text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">outstanding (Diluted)</font></font></td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">30,772,875</font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">27,737,454</font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Uncertainty in Income Taxes</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">The Company follows ASC 740-10, <font style="font-style: italic; display: inline;">Accounting for Uncertainty in Income Taxes.</font> This interpretation requires recognition and measurement of uncertain income tax positions using a &#8220;more-likely-than-not&#8221; approach. ASC 740-10 is effective for fiscal years beginning after December 15, 2006.&#160;&#160;Management has adopted ASC 740-10 for 2008, and they evaluate their tax positions on an annual basis, and has determined that as of September 30, 2012, no additional accrual for income taxes is necessary.</font></div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; text-decoration: underline;">Recently Issued Accounting Standards</font></font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In May 2011, FASB issued Accounting Standards Update (ASU) No. 2011-04, <font style="font-style: italic; display: inline;">Amendments to Achieve Common Fair Value Measurement and Disclosure Requirements in U.S. GAAP and IFRS</font>. FASB ASU 2011-04 amends and clarifies the measurement and disclosure requirements of FASB ASC 820 resulting in common requirements for measuring fair value and for disclosing information about fair value measurements, clarification of how to apply existing fair value measurement and disclosure requirements, and changes to certain principles and requirements for measuring fair value and disclosing information about fair value measurements. The new requirements are effective for fiscal years beginning after December 15, 2011. The Company plans to adopt this amended guidance on October 1, 2012 and at this time does not anticipate that it will have a material impact on the Company&#8217;s results of operations, cash flows or financial position.</font></div> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;" > <div >&#160;</div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In June 2011, FASB issued ASU No. 2011-05, <font style="font-style: italic; display: inline;">Presentation of Comprehensive Income</font>, which amends the disclosure and presentation requirements of Comprehensive Income. Specifically, FASB ASU No. 2011-05 requires that all nonowner changes in stockholders&#8217; equity be presented either in 1) a single continuous statement of comprehensive income or 2) two separate but consecutive statements, in which the first statement presents total net income and its components, and the second statement presents total other comprehensive income and its components. These new presentation requirements, as currently set forth, are effective for the Company beginning October 1, 2012, with early adoption permitted. The Company plans to adopt this amended guidance on October 1, 2012 and at this time does not anticipate that it will have a material impact on the Company&#8217;s results of operations, cash flows or financial position.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">In September 2011, FASB issued ASU 2011-08, <font style="font-style: italic; display: inline;">Testing Goodwill for Impairment</font>, which amended goodwill impairment guidance to provide an option for entities to first assess qualitative factors to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. After assessing the totality of events and circumstances, if an entity determines that it is not more likely than not that the fair value of a reporting unit is less than its carrying amount, performance of the two-step impairment test is no longer required. This guidance is effective for annual and interim goodwill impairment tests performed for fiscal years beginning after December 15, 2011, with early adoption permitted. Adoption of this guidance is not expected to have any impact on the Company&#8217;s results of operations, cash flows or financial position.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">There were other updates recently issued, most of which represented technical corrections to the accounting literature or application to specific industries and are not expected to have a material impact on the Company&#8217;s financial position, results of operations or cash flows.</font></div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 18pt; display: block; margin-left: 18pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="center"> <table style="width: 89%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td align="left" valign="bottom" width="72%">&#160;</td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">September 30,</font></div> </td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="11%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">September 30,</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160; </font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">2012</font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="11%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">2011</font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td align="left" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Net loss</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(&#160;763,280</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(1,360,136</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Weighted-average common shares</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">outstanding (Basic)</font></font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">26,987,575</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">24,121,026</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Weighted-average common stock</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Equivalents</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Stock options</font></font></td> <td align="left" valign="bottom" width="1%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="text-align: right;" valign="bottom" width="10%">-</td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 2px; text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Warrants</font></font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%">&#160;</td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%">&#160;3,785,300</td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,616,428</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="72%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Weighted-average common shares</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 4px; text-indent: 9pt;" valign="bottom" width="72%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">outstanding (Diluted)</font></font></td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">30,772,875</font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="10%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">27,737,454</font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-align: left; text-indent: 0pt; margin-left: 36pt; margin-right: 0pt;"> <table style="width: 43%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; December 31, 2008</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="8%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Issued &#8211; in the 26.6 units</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,660,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Issued &#8211; to Placement Agent</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">725,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; December 31, 2009</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,385,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; December 31, 2010</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,385,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Issued &#8211; for public relations</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; December 31, 2011</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,785,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="21%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="21%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance &#8211; September 30, 2012</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,785,300</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="7%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">0.50</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div style="text-indent: 0pt; margin-left: 0pt; margin-right: 0pt;" > <div > <div align="center" style="width: 100%;" ><font style="display: inline; font-family: times new roman; font-size: 8pt;">&#160; </font></div> </div> <div style="page-break-after: always; width: 100%;" >&#160;</div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"></font>&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="center"> <table style="width: 65%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="12%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">September 30,</font></font></div> </td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="12%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">December 31,</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="12%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">2012</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="12%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">&#160;2011</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="37%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Office equipment and computers</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">6,106</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">6,106</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 2px;" valign="bottom" width="37%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Furniture and fixtures</font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">2,182</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,182</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">8,288</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">8,288</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 2px;" valign="bottom" width="37%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Accumulated depreciation</font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">(5,964</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(4,204</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 4px;" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">2,324</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">4,084</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> </table> </div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="center"> <table style="width: 46%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="63%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;<font style="display: inline; font-weight: bold;">&#160;</font></font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="25%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">September 30, 2012</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="63%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Net operating losses</font></div> </td> <td valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="23%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">818,604</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="padding-bottom: 2px;" valign="bottom" width="63%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Valuation allowance</font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="23%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">(<font style="display: inline;">818,604</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 4px;" valign="bottom" width="63%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="2%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="23%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">-</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; margin-right: 0pt; margin-left: 0pt; display: block;">&#160;</div> <div style="text-align: left; text-indent: 0pt; margin-right: 0pt; margin-left: 63pt;"> <table style="width: 45%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="47%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="22%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr> <td valign="bottom" width="47%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="22%" colspan="2"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="47%"> <div align="left" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Federal statutory rate</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="21%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">(34.0</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;">)%</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="47%"> <div align="left" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">State income taxes, net of federal</font></div> </td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="21%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">0.0</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="47%"> <div align="left" style="text-indent: 0pt; margin-right: 18pt; margin-left: 0pt; display: block;"><font style="font-family: times new roman; font-size: 10pt; display: inline;">Valuation allowance</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right; border-bottom-color: black; border-bottom-width: 2px; border-bottom-style: solid;" valign="bottom" width="21%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">34.0</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="47%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="font-family: times new roman; font-size: 10pt; display: inline;"> </font></td> <td style="text-align: right;" valign="bottom" width="21%"><font style="font-family: times new roman; font-size: 10pt; display: inline;">0</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="font-family: times new roman; font-size: 10pt; display: inline;">%</font></td> </tr> </table> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div style="text-align: left; text-indent: 0pt; margin-left: 54pt; margin-right: 0pt;"> <table style="width: 53%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td align="left" style="border-bottom: 2px solid black;" valign="bottom" width="37%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">Year ending December 31,</font></font></div> </td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="14%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="14%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="37%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2012 (remaining three months)</font></div> </td> <td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">4,306</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2013</font></font></td> <td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">5,065</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2014</font></font></td> <td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,960</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="37%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2015</font></div> </td> <td align="right" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">3,960</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 4px;" valign="bottom" width="37%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td align="right" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="13%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">17,291</font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 36pt; margin-right: 18pt;">&#160;</div> <div style="text-align: left; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div align="left" style="text-align: left; text-indent: 0pt; margin-left: 72pt; margin-right: 0pt;"> <table style="width: 58%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="29%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="13%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="13%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Concentrations in Accounts Receivable</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="13%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">September 30, 2012</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="13%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">September 30, 2011</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer A</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">63</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">80</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer B</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">32</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer C</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">18</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="29%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Concentrations in Revenue</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="13%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">September 30, 2012</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="13%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">September 30, 2011</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer A</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">57</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer B</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">40</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">68</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="29%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Customer C</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="12%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">19</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">%</font></td> </tr> </table> </div> </div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;">&#160;</div> <div align="justify" style="text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;"></font>&#160;</div> <div align="justify" style="text-indent: 36pt; display: block; margin-left: 0pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"> <div style="text-align: left; text-indent: 0pt; margin-left: 36pt; margin-right: 0pt;"> <table style="width: 70%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">September 30, 2012</font></font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="9%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="9%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="9%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="9%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td style="padding-bottom: 2px;" valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">Level 1</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">Level 2 </font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">Level 3</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">Total</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="9%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="9%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="9%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="9%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Cash</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">168,536</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">168,536</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Total assets</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">168,536</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">168,536</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Original Issue Discount</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Senior Secured Convertible</font></font></td> <td valign="bottom" width="1%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="text-align: right;" valign="bottom" width="8%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td style="text-indent: 9pt;" valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Promissory Notes</font></font></td> <td valign="bottom" width="1%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="text-align: right;" valign="bottom" width="8%">-</td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,400,000</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Total liabilities</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="26%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">December 31, 2011</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td style="padding-bottom: 2px;" valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">Level 1</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">Level 2 </font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">Level 3 </font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="9%" colspan="2"> <div style="text-align: center; text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">Total</font></font></div> </td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Cash</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">255,862</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">255,862</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Total assets</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">255,862</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">255,862</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Original Issue Discount</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td style="text-indent: 9pt;" valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Senior Secured Convertible</font></font></td> <td valign="bottom" width="1%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="text-align: right;" valign="bottom" width="8%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td style="text-indent: 9pt;" valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Promissory Notes</font></font></td> <td valign="bottom" width="1%">&#160;</td> <td style="text-align: left;" valign="bottom" width="1%">&#160;</td> <td style="text-align: right;" valign="bottom" width="8%">-</td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap">&#160;</td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,400,000</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="26%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="26%"> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Total liabilities</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="8%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">2,400,000</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> <div style="text-indent: 0pt; display: block;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;">&#160;</div> <div align="justify" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 18pt;"> <div style="text-align: left; text-indent: 0pt; margin-left: 36pt; margin-right: 0pt;"> <table style="width: 49%; font-family: times new roman; font-size: 10pt;" cellspacing="0" cellpadding="0"> <tr> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td style="text-align: center;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="12%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Original Issue Discount</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td align="left" valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: center;" valign="bottom" width="12%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;">Senior Secured Convertible</font></font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt; font-weight: bold;"><font style="display: inline;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></div> </td> <td style="text-align: center; padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: center;" valign="bottom" width="12%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline; font-weight: bold;">Promissory Notes</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td valign="bottom" width="12%" colspan="2"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance, January 1, 2011</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">1,459,209</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Realized gains/(losses)</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Unrealized gains/(losses) relating to</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">instruments still held at the reporting date</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Purchases, sales, issuances and settlements, net</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Discount on notes</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Amortization of discount on notes</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">1,200,791</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Conversion of notes to common stock</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">(260,000</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">)</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance, December 31, 2011</font></div> </td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">2,400,000</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Realized gains/(losses)</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Unrealized gains/(losses) relating to</font></div> </td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">instruments still held at the reporting date</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Purchases, sales, issuances and settlements, net</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Discount on notes</font></div> </td> <td align="left" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">-</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Amortization of discount on notes</font></div> </td> <td align="left" style="padding-bottom: 2px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 2px solid black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">&#160;-</font></font></td> <td style="text-align: left; padding-bottom: 2px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="white"> <td valign="bottom" width="34%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160; </font></td> <td valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="text-align: left;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> <tr bgcolor="#cceeff"> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="34%"> <div align="left" style="text-indent: 0pt; display: block; margin-left: 0pt; margin-right: 0pt;"><font style="display: inline; font-family: times new roman; font-size: 10pt;">Balance, September 30, 2012</font></div> </td> <td align="left" style="padding-bottom: 4px;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> <td style="border-bottom: 4px double black; text-align: left;" valign="bottom" width="1%"><font style="display: inline; font-family: times new roman; font-size: 10pt;">$</font></td> <td style="border-bottom: 4px double black; text-align: right;" valign="bottom" width="11%"><font style="display: inline; font-family: times new roman; font-size: 10pt;"><font style="display: inline;">2,400,000</font></font></td> <td style="text-align: left; padding-bottom: 4px;" valign="bottom" width="1%" nowrap="nowrap"><font style="display: inline; font-family: times new roman; font-size: 10pt;">&#160;</font></td> </tr> </table> </div> </div> 1 for 1.3157895 1 for 1.3157895 990000 2660000 2660000 260000 2000000 400000 260000 400000 1.25 0.25 0.25 1.00 1.00 0.0100 0.10 P20D 0.90 0.50 0.50 1.05 0.50 1.25 0.50 0.50 0.50 0.50 1300000 2660000 725300 400000 3385300 400000 3616428 3785300 27737454 30772875 P30D P12M 3385300 3785300 3785300 3385300 26.6 P5Y P5Y 59534 1973684 23830000 21330000 75000 25000 50000 250000 100000 230000 109162 100000 108663 100000 75000 0.90 0.60 0.37 0.181 0.15 0.21 0.09 0.09 67500 15000 18500 45250 15000 230000 10000 100000 10000 100000 8288 6106 2182 8288 6106 2182 4204 5964 1760 1760 609776 253248 0 356500 P10Y 157454 26738 26737 2660000 50000 10000 2400000 1200791 1670000 412830 818604 818604 -0.34 0.00 0.34 0.00 2407658 5065 3960 17291 13022 13016 0.015 0.05 P15Y 1808434 0.80 0.68 0.19 0.18 0.63 0.32 0.57 0.40 250000 255862 255862 168536 168536 255862 255862 168536 168536 2400000 2400000 2400000 2400000 2400000 2400000 2400000 2400000 2400000 1459209 2400000 -260000 3960 4306 -285132 -541734 20000 2660000 0.50 26.6 0001437491mglt:PreMergerMember2008-01-012008-03-31 0001437491us-gaap:PrivatePlacementMember2009-12-31 2660000 1.25 0001437491mglt:PostMergerMember2012-08-012012-08-31 150000 150000 990000 217825 20000 124238 00014374912010-02-012010-02-28 0001437491us-gaap:WarrantMember2009-01-012009-12-31