OTHER BALANCE SHEET INFORMATION

6 Months Ended

Jun. 30, 2011

Notes to Financial Statements

Note 5 - OTHER BALANCE SHEET INFORMATION

Components of selected captions in the accompanying balance sheets as of June 30, 2011 and December 31, 2010 consist of:

	30-Jun-11			31-Dec-10
	(Unaudited)
Prepaid expenses:
Prepaid insurance	$	82,003		$	8,475
Other		-			7,292
Prepaid expenses	$	82,003		$	15,766
Property and equipment:
Computers and office equipment	$	21,696		$	20,689
Machinery and equipment		112,422			112,422
Less: accumulated depreciation		(114,841	)		(103,159	)
Property and equipment, net	$	19,275		$	29,952
Accrued expenses:
Payroll and related	$	32,3866		$	458,250
Professional fees		10,500			153,694
Accrued interest		18,958			22,054
Other		10,000			16,000
Accrued expenses	$	71,844		$	649,998