XML 24 R5.htm IDEA: XBRL DOCUMENT v2.3.0.15
Statement of Cash Flows (USD $)
9 Months Ended274 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Operating Activities   
Net loss for the period$ (101,530)$ (103,129)$ (7,357,137)
Adjustments to reconcile net loss to net cash used in operating activities:   
Amortization003,616
Beneficial conversion feature on convertible debt00239,662
Communications0028,000
Consulting fees002,478,554
Gain on settlement of payables00(25,233)
Interest accrued on loans44,10539,935190,784
Legal fees0025,000
Loss on disposal of equipment001,481
Management fees007,000
Stock-based compensation00736,053
Termination fees00792,000
Write-down of deferred costs0034,210
Write-down of advances to related party00606,337
Changes in non-cash item:   
Prepaid expenses322(516)0
Accounts payable(5,194)18,253706,003
Net cash used in operating activities(62,297)(45,457)(1,533,670)
Investing Activities   
Organization costs00(750)
Acquisition of equipment00(4,347)
Deferred costs00(34,210)
Advances to related party00(606,337)
Net cash used in investing activities00(645,644)
Financing Activities   
Loans payable62,32645,1711,006,250
Due to related parties0015,526
Proceeds from issuance of common stock001,162,631
Payment of offering costs00(30,270)
Additional paid-in capital0025,442
Net cash provided by financing activities62,32645,1712,179,579
Increase (decrease) in cash during the period29(286)265
Cash, beginning of the period2363110
Cash, end of the period26525265
Supplementary disclosure of cash flows:   
Cash paid for Interest$ 0$ 0$ 93,859