Quarterly report pursuant to sections 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY DEFICIENCY

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CONDENSED CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY DEFICIENCY (USD $)
Common Stock [Member]
Additional Paid-In Capital [Member]
Deficit Accumulated During Development Stage [Member]
Total
Balance at Dec. 31, 2011 $ 27,067 $ 3,913,700 $ (6,394,680) $ (2,453,913)
Balance (in shares) at Dec. 31, 2011 27,066,667      
Common stock issued in January 2012 to holders of convertible debenture ($0.62 per share) 594 367,686 0 368,280
Common stock issued in January 2012 to holders of convertible debenture ($0.62 per share) (in shares) 594,000      
Issuance of common stock in January and March 2012 ($0.62 per share), net of transaction expenses 6,617 3,625,694 0 3,632,311
Issuance of common stock in January and March 2012 ($0.62 per share), net of transaction expenses (in shares) 6,617,765      
Warrants issued in January 2012 to holders of connection with convertible debentures 0 83,289 0 83,289
Warrants issued to placement agent in January 2012 0 6,126 0 6,126
Net loss 0 0 (2,014,988) (2,014,988)
Balance at Mar. 31, 2012 $ 34,278 $ 7,996,495 $ (8,409,668) $ (378,895)
Balance (in shares) at Mar. 31, 2012 34,278,432