Prior Period Adjustment (Tables)

9 Months Ended

Sep. 30, 2012

Prior Period Adjustment Tables

Company's financial statements

The effects of the restatement on the Company’s financial statements as of and for the three and nine months ended September 30, 2011 and for the period from January 1, 1999 (inception) to September 30, 2011 are as follows:

BALANCE SHEET AS OF SEPTEMBER 30, 2011

	As Previously Reported			Effect of Restatement			As restated
Warrant liability	$	-		$	66,685		$	66,685
Redeemable and Convertible Preferred Stock (under mezzanine)	$	-		$	1,916,648		$	1,916,648
Preferred Stock	$	18,775		$	(18,775	)	$	-
Common stock	$	1,553,627		$	-		$	1,553,627
Additional paid-in capital	$	4,077,068		$	(1,516,060	)	$	2,561,008
Accumulated deficit	$	(3,626,121	)	$	-		$	(3,626,121	)
Deficit accumulated during the development stage	$	(528,508	)	$	(448,498	)	$	(977,006	)
Stockholders' equity (deficit)	$	1,494,841		$	(1,983,333	)	$	(488,492	)

STATEMENT OF OPERATIONS FOR THE THREE MONTHS ENDED SEPTEMBER 30, 2011

	As Previously Reported			Effect of Restatement			As restated
Change in warrant liability expense	$	-		$	(11,890	)	$	(11,890	)
Net loss for the period	$	(15,737	)	$	(11,890	)	$	(27,627	)
Accretion of preferred stock to redemption value	$	-		$	(33,335	)	$	(33,335	)
Net loss attributable to common stockholders	$	(15,737	)	$	(45,225	)	$	(60,962	)
Net loss per share – basic and diluted attributable to common stockholders	$	-		$	(0.00	)	$	(0.00	)
STATEMENT OF OPERATIONS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2011
	As Previously Reported			Effect of Restatement			As restated
Change in warrant liability expense	$	-		$	20,555		$	20,555
Net (loss) incomefor the period	$	(85,759	)	$	20,555		$	(65,204	)
Accretion of preferred stock to redemption value	$	-		$	(100,005	)	$	(100,005	)
Net loss attributable to common stockholders	$	(85,759	)	$	(79,450	)	$	(165,209	)
Net lossper share – basic and diluted attributable to common stockholders	$	-		$	(0.01	)	$	(0.01	)
STATEMENT OF OPERATIONS FROM JANUARY 1, 1999 (INCEPTION) TO SEPTEMBER 30, 2011
	As Previously Reported			Effect of Restatement			As restated
Change in warrant liability expense	$	-		$	74,342		$	74,342
Net (loss) income for the period	$	(528,508	)	$	74,342		$	(454,166	)
Accretion of preferred stock to redemption value	$	-		$	(522,840	)	$	(522,840	)
Net loss attributable to common stockholders	$	(528,508	)	$	(448,498	)	$	(977,006	)
STATEMENT OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2011
	As Previously Reported			Effect of Restatement			As restated
Net (loss) income	$	(85,759	)	$	20,555		$	(65,204	)
Change in warrant liability	$	-		$	(20,555	)	$	(20,555	)
Net cash used in operating activities	$	(81,063	)	$	-		$	(81,063	)
STATEMENT OF CASH FLOWS FROM JANUARY 1, 1999 (INCEPTION) TO SEPTEMBER 30, 2011
	As Previously Reported			Effect of Restatement			As restated
Net (loss) income	$	(528,508	)	$	74,342		$	(454,166	)
Change in warrant liability	$	-		$	(74,342	)	$	(74,342	)
Net cash used in operating activities	$	(537,603	)	$	-		$	(537,603	)