As Previously Reported

Restatement

As Restated

Balance Sheet - December 31, 2012

Notes payable

$

78,417

$

2,750

$

81,167

Total liabilities

$

160,253

$

2,750

$

163,003

Additional paid-in-capital

$

5,735,800

$

(201,350

)

$

5,534,450

Accumulated deficit during development stage

$

(5,928,585

)

$

198,600

$

(5,729,985

)

Total Stockholders’ Deficit

$

(157,985

)

$

(2,750

)

$

(160,735

)

Statement of Operations- For the Year Ended December 31, 2012

Loss on settlement of debt

$

212,600

$

(212,600

)

$

—

Finance costs

$

—

$

14,000

$

14,000

Net loss

$

(525,957

)

$

198,600

$

(327,357

)

Statement of Cash Flows - For the Year Ended December 31, 2012

Net loss

$

(525,957

)

$

198,600

$

(327,357

)

Loss on settlement of debt

$

212,600

$

(212,600

)

$

—

Accretion of debt discount

$

—

$

14,000

$

14,000