Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2013
Dec. 31, 2012
ASSETS    
Cash $ 68,037 $ 1,785,390
Prepaid expenses and other 46,362 224,659
Total current assets 114,399 2,010,049
Furniture and equipment, net 38,814 46,894
Other assets:    
Restricted cash 60,312 60,267
Deferred offering costs 100,916 0
Total assets 314,441 2,117,210
LIABILITIES AND STOCKHOLDERS' (DEFICIENCY) EQUITY    
Accounts payable, including $62,565 and $6,809 to related parties as of June 30, 2013 and December 31, 2012, respectively 1,461,238 825,837
Accrued expenses 601,588 309,800
Advances, related party 200,000 0
Accrued interest, related party 0 3,155
Total current liabilities 2,262,826 1,138,792
Deferred rent payable 15,137 19,710
Total liabilities 2,277,963 1,158,502
Stockholders' (deficiency) equity:    
Preferred stock, $0.001 par value; 5,000,000 authorized, none issued or outstanding 0 0
Common stock, $0.001 par value; 150,000,000 authorized; 2,197,490 and 2,159,156 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively 2,197 2,159
Additional paid in capital 17,965,425 16,800,829
Deficit accumulated during development stage (19,931,144) (15,844,280)
Total stockholders' equity (deficiency) (1,963,522) 958,708
Total liabilities and stockholders' equity (deficiency) $ 314,441 $ 2,117,210