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Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statement of Changes in Stockholders’ Equity (Deficiency) (Unaudited)

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Condensed Consolidated Statement of Changes in Stockholders’ Equity (Deficiency) (Unaudited) (USD $)
Preferred Stock Series B
Preferred Stock Series C
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Total
Beginning Balance - Amount at Dec. 31, 2011 $ 368 $ 11,307 $ 11,838 $ 3,275,296 $ (5,326,370) $ (2,027,561)
Beginning Balance - Shares at Dec. 31, 2011 368,411 11,307,450 11,837,930      
Conversion of all preferred shares into common shares, Shares (368,411) (11,307,450) 13,677,274      
Conversion of all preferred shares into common shares, Amount (368) (11,307) 13,677 3,467,983    3,469,985
Recapitalization, Shares     9,760,000      
Recapitalization, Amount     9,760 (30,629)    (20,869)
Conversion of convertible notes into common shares, Shares     5,293,152      
Conversion of convertible notes into common shares, Amount     5,293 1,770,532    1,775,825
Issuance of common shares and warrants for cash     7,877,144      
Issuance of common shares and warrants for cash     7,877 2,487,022    2,494,899
Issuance of common shares and warrants due to price protection, Shares     4,516,917      
Issuance of common shares and warrants due to price protection, Amount     4,517 (4,517)    0
Issuance of common shares and warrants to settle accrued interest, Shares     202,446      
Issuance of common shares and warrants to settle accrued interest, Amount     203 70,451    70,654
Stock-based compensation       176,671    176,671
Net loss         (5,176,376) (5,176,376)
Ending Balance, Amount at Sep. 30, 2012 $ 0 $ 0 $ 53,165 $ 11,212,809 $ (10,502,746) $ 763,228
Ending Balance, Shares at Sep. 30, 2012 0 0 53,164,863