LIQUIDITY AND CAPITAL RESOURCES	3 Months Ended
Mar. 31, 2013
LIQUIDITY AND CAPITAL RESOURCES:
LIQUIDITY AND CAPITAL RESOURCES	2. LIQUIDITY AND CAPITAL RESOURCES As of March 31, 2014, the Company had cash and cash equivalents of $0.2 million and a working capital deficit of $6.8 million. During the three months ended March 31, 2014, cash used in operating activities totaled $0.5 million. As a result of its limited cash resources and working capital deficit, the Company is delinquent in paying a number of its creditors. Unless the Company obtains additional financing in the coming months, it will need to substantially curtail operations and may be unable to continue its business. The Company anticipates that it will continue to generate losses for at least the next year as it develops and expands its products and offerings and seek to commercialize its products and expand its corporate infrastructure. The Company will continue to require significant amounts of additional capital to fund its operations, and such capital may not be available when it needs it on terms that it finds favorable, if at all. The Company is currently seeking to raise these funds, though it may seek additional debt financings, credit facilities, partnering or other corporate collaborations and licensing arrangements. If adequate funds are not available or are not available on acceptable terms, the Company’s ability to fund its operations, take advantage of opportunities, develop products and technologies, and otherwise respond to competitive pressures could be significantly delayed or limited, and the Company may need to downsize or halt its operations. Prevailing market conditions may not allow for such a fundraising or new investors may not be prepared to purchase the Company’s securities at prices that are greater than the current market price. There can be no assurance that the Company will be successful in attracting alternative debt or equity financing. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

LIQUIDITY AND CAPITAL RESOURCES

3 Months Ended

Mar. 31, 2013

2. LIQUIDITY AND CAPITAL RESOURCES

As of March 31, 2014, the Company had cash and cash equivalents of $0.2 million and a working capital deficit of $6.8 million. During the three months ended March 31, 2014, cash used in operating activities totaled $0.5 million. As a result of its limited cash resources and working capital deficit, the Company is delinquent in paying a number of its creditors. Unless the Company obtains additional financing in the coming months, it will need to substantially curtail operations and may be unable to continue its business.

The Company anticipates that it will continue to generate losses for at least the next year as it develops and expands its products and offerings and seek to commercialize its products and expand its corporate infrastructure. The Company will continue to require significant amounts of additional capital to fund its operations, and such capital may not be available when it needs it on terms that it finds favorable, if at all. The Company is currently seeking to raise these funds, though it may seek additional debt financings, credit facilities, partnering or other corporate collaborations and licensing arrangements. If adequate funds are not available or are not available on acceptable terms, the Company’s ability to fund its operations, take advantage of opportunities, develop products and technologies, and otherwise respond to competitive pressures could be significantly delayed or limited, and the Company may need to downsize or halt its operations. Prevailing market conditions may not allow for such a fundraising or new investors may not be prepared to purchase the Company’s securities at prices that are greater than the current market price.

There can be no assurance that the Company will be successful in attracting alternative debt or equity financing. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The condensed financial statements do not include any adjustments that might result from the outcome of this uncertainty.

- Definition

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.

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