XML 52 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2013
Dec. 31, 2012
CURRENT ASSETS    
Cash and cash equivalents $ 2,216,100 $ 2,994,350
Accounts receivable, net of allowance of $0 at September 30, 2013 and December 31, 2012 3,473 3,473
Inventory 39,434 19,980
Prepaid expenses 329,605 750,000
TOTAL CURRENT ASSETS 2,588,612 3,767,803
PROPERTY AND EQUIPMENT    
Capital equipment, net of accumulated depreciation of $74,639 and $32,624 as of September 30, 2013 and December 31, 2012 161,387 2,340
OTHER ASSETS    
Deposits 37,197  
Patents and trademarks, net of accumulated amortization of $102,116 and $92,302 as of September 30, 2013 and December 31, 2012 123,972 311,832
TOTAL ASSETS 2,911,168 4,081,975
CURRENT LIABILITIES    
Accounts payable and accrued expenses 330,672 660,493
Accrued interest 14,667 97,563
Embedded derivative liability 1,500,000  
Notes payable 50,000 200,000
TOTAL CURRENT LIABILITIES 1,895,339 958,056
LONG-TERM LIABILITIES    
Warrant liability 8,500,000 2,400,000
Accrued interest 906,634 975,559
Senior secured convertible notes payable 550,249 775,249
Convertible notes payable 98,000 140,000
Notes payable, net of discount of $9,914 and $13,632 as of September 30, 2013 and December 31, 2012 701,086 697,368
TOTAL LONG-TERM LIABILITIES 10,755,969 4,988,176
STOCKHOLDERS' DEFICIT    
Convertible Preferred Stock, $ .001 par value; 75,000,000 shares authorized; 21,111,111 shares issued and outstanding as of September 30, 2013 and no shares issued and outstanding at December 31, 2012 633,333  
Common stock, $ .001 par value; 675,000,000 shares authorized; 287,887,344 shares issued and 258,091,442 outstanding at September 30, 2013 and 248,244,012 shares issued and 218,448,109 outstanding at December 31, 2012 287,887 248,244
Additional paid in capital 21,295,074 11,387,929
Treasury stock, at cost (29,795,903 shares at September 30, 2013 and December 31, 2012) (113,389) (113,389)
Deficit accumulated during the development stage (31,843,045) (13,387,041)
STOCKHOLDERS' DEFICIT (9,740,140) (1,864,257)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,911,168 $ 4,081,975