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consolidated financial statements of FluoroPharma Medical, Inc. and&amp;#160;Subsidiary have been prepared in accordance with accounting
principles generally accepted in the United States of America for interim financial information and the rules and regulations of
the U.S. Securities and Exchange Commission (the &amp;#34;SEC&amp;#34;).&amp;#160; Accordingly, the unaudited condensed consolidated financial
statements do not include all information and footnotes required by accounting principles generally accepted in the United States
of America for complete annual financial statements.&amp;#160; In the opinion of management, the accompanying unaudited condensed consolidated
financial statements reflect all adjustments, consisting of only normal recurring adjustments, considered necessary for a fair
presentation.&amp;#160; Certain prior year amounts in the condensed consolidated financial statements and notes thereto have been reclassified
to conform to the current period&amp;#146;s presentation.&amp;#160;&amp;#160;Interim operating results are not necessarily indicative of results
that may be expected for the year ending December&amp;#160;31, 2013 or for any other interim period.&amp;#160; The unaudited condensed
consolidated financial statements should be read in conjunction with the audited financial statements of the Company and the notes
thereto as of and for the year&amp;#160;ended December 31, 2012, as included in the Company's Form 10-K filed with the SEC on March
28, 2013.&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;As of June 30, 2013, the Company has
not generated any revenues from its products and is therefore still considered to be a development stage company as defined in
Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 915 &amp;#147;Development Stage Entities&amp;#148;.
The Company is devoting substantially all of its present efforts to research and development of commercially viable products that
meet the standards of and are approved by the Food and Drug Administration, raising capital and attracting qualified advisors and
personnel to further advance the Company&amp;#146;s goals. The Company has not commenced its planned principal operations, has not
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property and equipment at June 30, 2013 and December 31, 2012 consisted of computer and office equipment and machinery and equipment,
and leasehold improvements with estimated useful lives of three to five years.&amp;#160;&amp;#160;Depreciation and amortization was $12,163,
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June 30, 2013, included in Property and Equipment was idle equipment with a carrying value of $128,245 purchased by the Company
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The determination of related estimated useful lives and whether or not these assets are impaired involves significant judgments,
related primarily to the future profitability and/or future value of the assets. The Company records an impairment charge if it
believes an investment has experienced a decline in value that is other than temporary.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Management has determined that no impairments
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the historical cost basis, which, due to the short maturity of these financial instruments, approximates the fair value at the
reporting dates of these financial statements.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company groups its assets and liabilities
measured at fair value, in three levels based on the markets in which the assets and liabilities are traded and the reliability
of the assumptions used to determine fair value.&amp;#160;&amp;#160;Fair value is defined as the price that would be received to sell an
asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price).&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Financial instruments with readily available
active quoted prices or for which fair value can be measured from actively quoted prices generally will have a higher degree of
market price observability and a lesser degree of judgment used in measuring fair value.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;The three levels of the fair value hierarchy are as follows:&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"&gt;&amp;#160;Level 1 &amp;#150;
Valuation is based on quoted prices in active markets for identical assets or liabilities.&amp;#160;&amp;#160;Valuations are obtained from
readily available pricing sources for market transactions involving identical assets or liabilities.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"&gt;&amp;#160;Level 2 &amp;#150;
Valuation is based on 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.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 27pt"&gt;&amp;#160;Level 3 &amp;#150;
Valuation is based on unobservable inputs that are supported by little or no market activity and that are significant to the fair
value of the assets or liabilities.&amp;#160;&amp;#160;Level 3 assets and liabilities include financial instruments whose value is determined
using pricing models, discounted cash flow methodologies, or similar techniques, as well as instruments for which the determination
of fair value requires significant management judgment or estimation.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;In certain cases, the inputs used to
measure fair value may fall into different levels of the fair value hierarchy.&amp;#160;&amp;#160;In such cases, an instrument&amp;#146;s
level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement.&amp;#160;&amp;#160;The
Company&amp;#146;s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment,
and considers factors specific to the financial instrument.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company recognizes transfers between
levels at the end of the reporting period as if the transfers occurred on the last day of the reporting period.&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for determining the fair value of financial instruments.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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method of accounting for income taxes. Deferred tax assets and liabilities are recognized for the future tax consequences attributable
to the differences between the financial statement carrying amounts of the existing assets and liabilities and the respective tax
bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years
in which those temporary differences are expected to be realized or settled. The effect on deferred tax assets and liabilities
of a change in tax rates is recognized in results of operations in the period that the tax rate change occurs. Valuation allowances
are established when necessary to reduce deferred tax assets to the amount expected to be realized.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company accounts for uncertain tax
positions in accordance with FASB ASC Topic 740-10, &lt;i&gt;Accounting for Uncertainty in Income Taxes.&amp;#160; &lt;/i&gt;Income tax positions
must meet a more-likely-than-not threshold in order to be recognized in the financial statements. There were no recognized uncertain
tax positions at June 30, 2013 and December 31, 2012.&amp;#160;&amp;#160;The Company recognizes potential accrued interest and penalties
related to unrecognized tax benefits within operations as income tax expense. &amp;#160;As new information becomes available, the assessment
of the recognition threshold and the measurement of the associated tax benefit of uncertain tax positions may result in financial
statement recognition or de-recognition.&amp;#160; The Company had no accrual for interest or penalties on its balance sheets at June
30, 2013 or December 31, 2012, and has not recognized interest and/or penalties in the statement of operations for the periods
ended June 30, 2013 and December 31, 2012.&amp;#160;&amp;#160; Further, the Company currently has no open tax years, subject to audit prior
to December 31, 2009.&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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ASC Topic 718, which establishes the accounting for transactions in which an entity exchanges equity securities for services and
requires companies to expense the estimated fair value of these awards over the requisite service period. FPM uses the Black-Scholes
option pricing model in determining fair value. Accordingly, compensation cost has been recognized using the fair value method
and expected term accrual requirements as prescribed, which resulted in employee stock-based compensation expense for the periods
ended June 30, 2013 and 2012 of $264,715 and $158,430, respectively, and $2,949,662 for the period from June 13, 2003 (inception)
to June 30, 2013.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company accounts for share-based
payments granted to non-employees in accordance with ASC Topic 505, &amp;#147;Equity Based Payments to Non-Employees.&amp;#148; The Company
determines the fair value of the stock-based payment as either the fair value of the consideration received or the fair value of
the equity instruments issued, whichever is more reliably measurable.&amp;#160;&amp;#160;If the fair value of the equity instruments issued
is used, it is measured using the stock price and other measurement assumptions as of the earlier of either (1) the date at which
a commitment for performance by the counterparty to earn the equity instruments is reached, or (2) the date at which the counterparty&amp;#146;s
performance is complete.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;To compute compensation expense, the
Company estimated the fair value of each option award on the date of grant using the Black-Scholes option pricing model for employees,
and calculated the fair value of each option award at the end of the period for non-employees.&amp;#160;&amp;#160;The Company based the
expected volatility assumption on a volatility index of peer companies as the Company did not have sufficient historical market
information to estimate the volatility of its own stock.&amp;#160;&amp;#160;The expected term of options granted represents the period
of time that options are expected to be outstanding.&amp;#160;&amp;#160;The Company estimated the expected term of stock options by using
the simplified method. The expected forfeiture rates are based on the historical employee forfeiture experiences.&amp;#160;&amp;#160;To
determine the risk-free interest rate, the Company utilized the U.S. Treasury yield curve in effect at the time of grant with a
term consistent with the expected term of the Company&amp;#146;s awards.&amp;#160;&amp;#160;The Company has not declared a dividend on its
common stock since its inception and has no intentions of declaring a dividend in the foreseeable future and therefore used a dividend
yield of zero.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The fair value of each share-based payment
is estimated on the measurement date using the Black-Scholes model with the following assumptions:&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;

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    &lt;td style="line-height: 115%"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;%&lt;/font&gt;&lt;/td&gt;
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    &lt;td style="line-height: 115%"&gt;&amp;#160;&lt;/td&gt;
    &lt;td style="text-align: right; line-height: 115%"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;77.70&lt;/font&gt;&lt;/td&gt;
    &lt;td style="line-height: 115%"&gt;&lt;font style="font: 10pt Times New Roman, Times, Serif; color: black"&gt;%&lt;/font&gt;&lt;/td&gt;&lt;/tr&gt;
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    &lt;td style="line-height: 115%"&gt;&amp;#160;&lt;/td&gt;&lt;/tr&gt;
&lt;/table&gt;
&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0"&gt;&amp;#160;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>The entire disclosure for accounts comprising shareholders' equity, comprised of portions attributable to the parent entity and noncontrolling interest, if any, including other comprehensive income (as applicable).  Also includes disclosure of compensation-related costs for equity-based compensation which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details, and employee stock purchase plan details.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Accounting for Share-Based Payments</Label></Row><Row FlagID="0"><Id>13</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

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and the dilutive effect of common share equivalents, such as options and warrants to purchase common stock, and convertible notes,
if applicable, that are outstanding each year.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Basic and diluted earnings per share
were the same for all periods presented as including common stock equivalents in the calculation of diluted earnings per share
would have been antidilutive. As of June 30, 2013, the Company had outstanding options exercisable for 4,550,428 shares of its
common stock, warrants exercisable for 7,318,312 shares of its common stock and preferred stock convertible into 2,234,673 shares
of common stock.&amp;#160;&amp;#160;At June 30, 2012, the Company had outstanding options exercisable for 3,876,548 shares of its common
stock, and warrants exercisable for 5,183,531 shares of common stock, and preferred stock convertible into 2,022,321 shares of
common stock.&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</ElementDefenition><ElementReferences>Reference 1: http://www.xbrl.org/2003/role/presentationRef

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 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009.  This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.



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Reference 6: http://www.xbrl.org/2003/role/presentationRef

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</LabelSeparator><Level>2</Level><ElementName>us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="From2013-01-01to2013-06-30" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;Management does not believe that any
recently issued, but not yet effective, accounting standards if currently adopted would have a material effect on the accompanying
financial statements.&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Recent Accounting Pronouncements</Label></Row><Row FlagID="0"><Id>18</Id><IsAbstractGroupTitle>false</IsAbstractGroupTitle><LabelSeparator>

</LabelSeparator><Level>2</Level><ElementName>us-gaap_LiquidityDisclosureTextBlock</ElementName><ElementPrefix>us-gaap_</ElementPrefix><IsBaseElement>true</IsBaseElement><BalanceType>na</BalanceType><PeriodType>duration</PeriodType><IsReportTitle>false</IsReportTitle><IsSegmentTitle>false</IsSegmentTitle><IsCalendarTitle>false</IsCalendarTitle><IsEquityPrevioslyReportedAsRow>false</IsEquityPrevioslyReportedAsRow><IsEquityAdjustmentRow>false</IsEquityAdjustmentRow><IsBeginningBalance>false</IsBeginningBalance><IsEndingBalance>false</IsEndingBalance><IsReverseSign>false</IsReverseSign><FootnoteIndexer /><Cells><Cell FlagID="0" ContextID="From2013-01-01to2013-06-30" UnitID=""><Id>1</Id><IsNumeric>false</IsNumeric><IsRatio>false</IsRatio><DisplayZeroAsNone>false</DisplayZeroAsNone><NumericAmount>0</NumericAmount><RoundedNumericAmount>0</RoundedNumericAmount><NonNumbericText>&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The accompanying financial statements
have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in
the normal course of business.&amp;#160; The Company has experienced net losses and negative cash flows from operations since its inception.&amp;#160;&amp;#160;The
Company has sustained cumulative losses of $19,069,227 as of June 30, 2013.&amp;#160; The Company has historically financed its operations
through issuances of equity and the proceeds of debt instruments. In the past, the Company has also provided for its cash needs
by issuing common stock, options and warrants for certain operating costs, including consulting and professional fees.&amp;#160;&amp;#160;&amp;#160;During
the year ended December 31, 2012, the Company raised $1,360,572 net of offering costs, through the private placement of common
stock and warrants (see Note 2).&amp;#160;&amp;#160;During the six months ended June 30, 2013, the Company issued short-term notes payable
for $200,000 (see Note 3).&amp;#160;&amp;#160;At the conclusion of their audit of the Company&amp;#146;s financial statements for the year
ended December 31, 2012, the Company&amp;#146;s independent registered public accounting firm expressed substantial doubt about the
Company&amp;#146;s ability to continue as a going concern.&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"&gt;&amp;#160;&lt;/p&gt;

&lt;p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify"&gt;The Company continues to actively pursue
various funding options, including equity offerings, to obtain additional funds to continue the development of its products and
bring them to commercial markets. Management continues to assess fund raising opportunities to ensure minimal dilution to its existing
shareholder base and to obtain the best price for its securities. Management is optimistic based upon its ability to raise funds
in prior years, through private placement offerings (see description of the 2012 private placement in Note 2), that it will be
able to raise additional funds in the future.&amp;#160; There can be no assurance that we will be able to consummate any fund raising
transactions on terms acceptable to us or at all or in the time frames we anticipate.&amp;#160; If the Company is unable to raise additional
capital as may be needed to meet its operating expenses, it could have a material adverse effect on liquidity or require the Company
to cease or significantly delay some of its clinical trials.&amp;#160; These financial statements do not include any adjustments relating
to the recoverability of recorded asset amounts that might be necessary as a result of the above uncertainty. &amp;#160;&lt;/p&gt;</NonNumbericText><FootnoteIndexer /><CurrencyCode /><CurrencySymbol /><IsIndependantCurrency>false</IsIndependantCurrency><ShowCurrencySymbol>false</ShowCurrencySymbol><DisplayDateInUSFormat>false</DisplayDateInUSFormat></Cell></Cells><ElementDataType>nonnum:textBlockItemType</ElementDataType><SimpleDataType>na</SimpleDataType><ElementDefenition>Disclosure of accounting policy for reporting when there is a substantial doubt about an entity's ability to continue as a going concern for a reasonable period of time (generally a year from the balance sheet date). Disclose: (a) pertinent conditions and events giving rise to the assessment of substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time, (b) the possible effects of such conditions and events, (c) management's evaluation of the significance of those conditions and events and any mitigating factors, (d) possible discontinuance of operations, (e) management's plans (including relevant prospective financial information), and (f) information about the recoverability or classification of recorded asset amounts or the amounts or classification of liabilities. If management's plans alleviate the substantial doubt about the entity's ability to continue as a going concern, disclosure of the principal conditions and events that initially raised the substantial doubt about the entity's ability to continue as a going concern would be expected to be considered. Disclose whether operations for the current or prior years generated sufficient cash to cover current obligations, whether waivers were obtained from creditors relating to the company's default under the provisions of debt agreements and possible effects of such conditions and events, such as: whether there is a possible need to obtain additional financing (debt or equity) or to liquidate certain holdings to offset future cash flow deficiencies. Disclose appropriate parent company information when parent is dependent upon remittances from subsidiaries to satisfy its obligations.</ElementDefenition><ElementReferences>No definition available.</ElementReferences><IsTotalLabel>false</IsTotalLabel><UnitID>0</UnitID><Label>Going concern</Label></Row></Rows><Footnotes /><IsEquityReport>false</IsEquityReport><ReportName>SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)</ReportName><MonetaryRoundingLevel>UnKnown</MonetaryRoundingLevel><SharesRoundingLevel>UnKnown</SharesRoundingLevel><PerShareRoundingLevel>UnKnown</PerShareRoundingLevel><ExchangeRateRoundingLevel>UnKnown</ExchangeRateRoundingLevel><HasCustomUnits>true</HasCustomUnits><IsEmbedReport>false</IsEmbedReport><IsMultiCurrency>false</IsMultiCurrency><ReportType>Sheet</ReportType><RoleURI>http://flouropharmamedical.com/role/SummaryOfSignificantAccountingPoliciesPolicies</RoleURI><NumberOfCols>1</NumberOfCols><NumberOfRows>18</NumberOfRows></InstanceReport>
