XML 36 R5.htm IDEA: XBRL DOCUMENT v2.4.0.6
Statements of Cash Flows (Unaudited) (USD $)
9 Months Ended 283 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Operating Activities      
Net loss for the period $ (130,436) $ (101,530) $ (7,519,673)
Adjustments to reconcile net loss to net cash used in operating activities:      
Amortization 0 0 3,616
Beneficial conversion feature on convertible debt   0 239,662
Communications 0 0 28,000
Consulting fees 0 0 2,478,554
Gain on settlement of payables 0 0 (25,233)
Interest accrued on loans 48,893 44,105 255,291
Legal fees 0 0 25,000
Loss on disposal of equipment 0 0 1,481
Management fees 0 0 7,000
Stock-based compensation 0 0 736,053
Termination fees 0 0 792,000
Write-down of deferred costs 0 0 34,210
Write-down of advances to related party 0 0 606,337
Changes in non-cash item:      
Prepaid expenses 0 322 0
Accounts payable 15,188 (5,194) 720,093
Net cash used in operating activities (66,355) (62,297) (1,617,609)
Investing Activities      
Organization costs 0 0 (750)
Acquisition of equipment 0 0 (4,347)
Deferred costs 0 0 (34,210)
Advances to related party 0 0 (606,337)
Net cash used in investing activities 0 0 (645,644)
Financing Activities      
Loans payable 67,064 62,326 1,090,794
Due to related parties 0 0 15,526
Proceeds from issuance of common stock 0 0 1,162,631
Payment of offering costs 0 0 (30,270)
Additional paid-in capital 0 0 25,442
Net cash provided by financing activities 67,064 62,326 2,264,123
Increase in cash during the period 709 29 870
Cash, beginning of the period 161 236 0
Cash, end of the period 870 265 870
Supplementary disclosure of cash flows:      
Cash paid for Interest $ 0 $ 0 $ 93,859