Annual report pursuant to section 13 and 15(d)

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY)

v2.4.0.8
CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY (DEFICIENCY) (USD $)
Total
Preferred Stock [Member]
Common Stock [Member]
Additional Paid-In Capital [Member]
Deficit Accumulated During Development Stage [Member]
Balance at Jun. 07, 2007 $ 0 $ 0 $ 0 $ 0 $ 0
Balance (in shares) at Jun. 07, 2007   0 0    
Shares issued to founders for intellectual property 87,750 0 29 87,721 0
Shares issued to founders for intellectual property (in shares)   0 29,451    
Common Stock Issued 9,750 0 3 9,747 0
Common Stock Issued (in shares)   0 3,272    
Stock based compensation 24,187 0 0 24,187 0
Net loss (537,001) 0 0 0 (537,001)
Balance at Dec. 31, 2007 (415,314) 0 32 121,655 (537,001)
Balance (in shares) at Dec. 31, 2007   0 32,723    
Stock based compensation 72,563 0 0 72,563 0
Net loss (202,262) 0 0 0 (202,262)
Balance at Dec. 31, 2008 (545,013) 0 32 194,218 (739,263)
Balance (in shares) at Dec. 31, 2008   0 32,723    
Conversion of senior convertible notes into Preferred stock in June 2009 ($2.60 per share) 200,000 0 360 199,640 0
Conversion of senior convertible notes into Preferred stock in June 2009 ($2.60 per share) (in shares)   0 360,004    
Capital contribution in June 2009 23,725 0 0 23,725 0
Shares issued to directors 4,680 0 2 4,678 0
Shares issued to directors (in shares)   0 1,571    
Net loss (220,834) 0 0 0 (220,834)
Balance at Dec. 31, 2009 (537,442) 0 394 422,261 (960,097)
Balance (in shares) at Dec. 31, 2009   0 394,298    
Conversion of demand notes into capital stock in July 2010 ($4.60 per share) 480,000 0 105 479,895 0
Conversion of demand notes into capital stock in July 2010 ($4.60 per share) (in shares)   0 104,729    
Conversion of accrued interest on demand notes into capital stock in July 2010 ($4.60 per share) 69,078 0 15 69,063 0
Conversion of accrued interest on demand notes into capital stock in July 2010 ($4.60 per share) (in shares)   0 15,072    
Shares issued to founders for intellectual property 295,500 0 66 295,434 0
Shares issued to founders for intellectual property (in shares)   0 65,447    
Issuance of capital stock 1,342,001 0 293 1,341,708 0
Issuance of capital stock (in shares)   0 292,804    
Shares issued to directors 139,882 0 29 139,853 0
Shares issued to directors (in shares)   0 29,386    
Net loss (1,964,470) 0 0 0 (1,964,470)
Balance at Dec. 31, 2010 (175,451) 0 902 2,748,214 (2,924,567)
Balance (in shares) at Dec. 31, 2010   0 901,735    
Issuance of capital stock 612,000 0 133 611,867 0
Issuance of capital stock (in shares)   0 133,530    
Shares issued to directors 435,651 0 98 435,553 0
Shares issued to directors (in shares)   0 98,084    
Common stock issued in connection with the share exchange transaction in October 2011 0 0 200 (200) 0
Common stock issued in connection with the share exchange transaction in October 2011 (in shares)   0 200,000    
Common Stock Issued 144,000 0 20 143,980 0
Common Stock Issued (in shares)   0 20,000    
Net loss (3,470,113) 0 0 0 (3,470,113)
Balance at Dec. 31, 2011 (2,453,913) 0 1,353 3,939,414 (6,394,680)
Balance (in shares) at Dec. 31, 2011   0 1,353,350    
Issuance of common stock in January 2012 to holders of convertible debentures ($12.40 per share) 368,280 0 30 368,250 0
Issuance of common stock in January 2012 to holders of convertible debentures ($12.40 per share) (in shares)   0 29,700    
Issuance of capital stock 3,632,311 0 331 3,631,980 0
Issuance of capital stock (in shares)   0 330,892    
Warrants issued in January 2012 to holders of convertible debentures 83,289 0 0 83,289 0
Warrants issued to placement agent in January 2012 6,126 0 0 6,126 0
Warrants reclassified to equity upon expiry of reset provisions 3,938,946 0 0 3,938,946 0
Issuance of common stock and warrants in December 2012 to holders of convertible debentures ($6.00) per share 710,000 0 118 709,882  
Issuance of common stock and warrants in December 2012 to holders of convertible debentures ($6.00) per share (in shares)   0 118,335    
Issuance of common stock and warrants in December 2012 ($8.00 per share) net of transaction expenses of $70,000 2,545,000 0 327 2,544,673 0
Issuance of common stock and warrants in December 2012 ($8.00 per share) net of transaction expenses of $70,000 (in shares)   0 326,879    
Beneficial conversion feature in connection with convertible debentures 710,000 0 0 710,000 0
Capital contribution of accrued interest 3,111 0 0 3,111 0
Stock based compensation 865,158 0 0 865,158 0
Net loss (9,449,600) 0 0 0 (9,449,600)
Balance at Dec. 31, 2012 $ 958,708 $ 0 $ 2,159 $ 16,800,829 $ (15,844,280)
Balance (in shares) at Dec. 31, 2012   0 2,159,156