XML 32 R2.htm IDEA: XBRL DOCUMENT v2.3.0.15
Condensed Consolidated Balance Sheets (USD $)
Sep. 30, 2011
Dec. 31, 2010
Current assets:  
Cash and cash equivalents$ 86,129$ 98,514
Short-term investments58,8140
Security deposits71,10696,163
Prepaid expenses and other current assets46,93214,073
Total current assets262,981208,750
Property and Equipment, net3,00947,674
Indemnity fund115,424115,568
Security deposits088,600
Total assets381,414460,592
Current liabilities:  
Accounts payable and accrued expenses2,318,2083,576,809
Convertible notes payable29,000,00029,000,000
Notes payable6,600,0004,660,000
Accrued interest payable on convertible notes5,802,2194,714,722
Accrued interest payable on notes payable569,501270,759
Accrued lease (Note 7)065,922
Total current liabilities44,289,92842,288,212
Accrued lease, excluding current portion (Note 7)030,503
Total liabilities44,289,92842,318,715
Commitments and contingencies (Note 9)  
Series F convertible redeemable preferred stock, $.01 par value; 200,000 shares designated; 12,000 and 196,000 shares issued and outstanding at September 30, 2011 and December 31, 2010, respectively (liquidation preference of $300,000 at September 30, 2011)343,1505,428,158
Stockholders' deficit:  
Preferred stock, $.01 par value; 1,000,000 shares authorized; 25,000 shares designated Convertible Series A, 500,000 shares designated Convertible Series D and 800 shares designated Convertible Series E; no shares issued and outstanding at September 30, 2011 and December 31, 2010, respectively  
Common stock, $.01 par value; 79,730,000 shares authorized at September 30, 2011 and December 31, 2010; 31,744,145 and 26,785,645 issued and outstanding at September 30, 2011 and December 31, 2010, respectively317,441267,856
Additional paid-in capital151,683,602146,611,717
Deficit accumulated during development stage(196,252,707)(194,165,854)
Total stockholders' deficit(44,251,664)(47,286,281)
Total liabilities and stockholders' deficit$ 381,414$ 460,592