Going Concern

12 Months Ended

Dec. 31, 2012

Going Concern [Abstract]

Going Concern

2. Going Concern

The accompanying financial statements have been prepared assuming that the Company will continue as a going concern. For the year ended December 31, 2012 and since November 27, 2000 (date of inception) through December 31, 2012, the Company had a net loss of $1,160,250 and $17,531,408, respectively. As of December 31, 2012, the Company has not emerged from the development stage and has a working capital deficit of $224,563. In view of these matters, the Company’s ability to continue as a going concern is dependent upon the Company’s ability to begin operations and to achieve a level of profitability. Since inception, the Company has financed its activities principally from the sale of public equity securities. The Company intends on financing its future development activities and its working capital needs largely from the sale of public equity securities with some additional funding from other traditional financing sources, including term notes and proceeds from sub-licensing agreements until such time that funds provided by operations are sufficient to fund working capital requirements. The financial statements of the Company do not include any adjustments relating to the recoverability and classification of recorded assets, or the amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.