General form of registration statement for all companies including face-amount certificate companies

CONSOLIDATED BALANCE SHEETS

v2.4.0.6
CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
ASSETS      
Cash $ 423,739 $ 1,785,390 $ 41,123
Prepaid expenses and other 67,691 224,659 102,430
Total current assets 491,430 2,010,049 143,553
Furniture and equipment, net 42,756 46,894 25,550
Deferred financing costs, net   0 196,166
Restricted cash 60,289 60,267 60,177
Total assets 594,475 2,117,210 425,446
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIENCY)      
Accounts payable 870,096 825,837 695,198
Accrued expenses 346,692 309,800 10,229
Accrued interest 0 3,155 38,306
Liability to placement agent   0 31,543
Convertible debentures   0 150,000
Total current liabilities 1,216,788 1,138,792 925,276
Convertible debentures, including $265,000 to related parties   0 1,925,000
Deferred rent payable 17,424 19,710 29,083
Total liabilities 1,234,212 1,158,502 2,879,359
Commitments        
Stockholders' equity (deficiency):      
Preferred stock, value 0 0 0
Common stock, value 2,159 2,159 1,353
Additional paid in capital 17,203,587 16,800,829 3,939,414
Deficit accumulated during development stage (17,845,483) (15,844,280) (6,394,680)
Total stockholders' equity (deficiency) (639,737) 958,708 (2,453,913)
Total liabilities and stockholders' equity (deficiency) $ 594,475 $ 2,117,210 $ 425,446