XML 29 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Balance Sheets (USD $)
Dec. 31, 2012
Dec. 31, 2011
CURRENT ASSETS:    
Cash $ 1,338,356 $ 1,484,906
TOTAL ASSETS 1,338,356 1,484,906
CURRENT LIABILITIES    
Accounts payable and accrued expenses 5,118 9,174
Warrant liability    70,991
TOTAL CURRENT LIABILITIES 5,118 80,165
COMMITMENTS AND CONTINGENCIES      
PREFERRED STOCK, $1.00 par value; 4,000,000 authorized: Series A 10% Convertible Preferred stock; 50,000 shares authorized; 20,637 shares issued and outstanding as of December 31, 2011, liquidation preference of $2,063,700 as of December 31, 2011    1,951,846
STOCKHOLDERS' EQUITY/(DEFICIT):    
PREFERRED STOCK, $1.00 par value; 4,000,000 authorized: Series A 10% Convertible Preferred stock; 50,000 shares authorized; 22,704 shares issued and outstanding as of December 31, 2012, liquidation preference of $2,270,400 as of December 31, 2012 2,053,918   
Common stock, $.10 par value 200,000,000 shares authorized; 16,033,862 shares issued and 15,536,275 shares outstanding as of December 31, 2012 and 2011 1,603,387 1,603,387
Treasury Stock, $.10 par value 497,587 shares as of December 31, 2012 and 2011 (49,759) (49,759)
Additional paid-in capital 2,558,254 2,559,145
Accumulated deficit (3,626,121) (3,626,121)
Deficit accumulated during the development stage (1,206,441) (1,033,757)
TOTAL STOCKHOLDERS' EQUITY /(DEFICIT) 1,333,238 (547,105)
TOTAL LIABILITIES, PREFERRED STOCK AND STOCKHOLDERS' EQUITY/(DEFICIT) $ 1,338,356 $ 1,484,906