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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended9 Months Ended53 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Revenue     
Operating expense     
General & administrative327,380[1]265,942[1]1,002,191[1]832,518[1]5,850,742[1]
Total operating expense504,489501,2881,560,9941,419,6229,061,379
Net operating loss(504,489)(501,288)(1,560,994)(1,419,622)(9,061,379)
Other income     
Interest income8702362,1711,28375,575
Other income    244,479
Other expense(200)(285)(471)(753)(3,371)
Total Other Income670(49)1,700530316,683
Net Loss(503,819)(501,337)(1,559,294)(1,419,092)(8,744,696)
Loss per share     
Net loss per share, basic and diluted$ (0.01)$ (0.01)$ (0.03)$ (0.03)$ (0.21)
Basic and diluted weighted average number of common shares outstanding56,146,29649,083,80652,398,69047,752,80742,353,075
All Other
     
Operating expense     
Research and development127,109[2]235,346[2]458,803[2]587,104[2]3,048,687[2]
Related Party Transactions
     
Operating expense     
Research and development$ 50,000 $ 100,000 $ 161,950
[1]General & administrative expense includes stock for services, stock option and warrant expenses of $105,491 and $106,534 for the quarters ending 9/30/2011 and 9/30/2010, respectively; $314,869 and $320,220 for the nine month periods ending 9/30/2011 and 9/30/2010, respectively; and for the period from inception through 9/30/2011 $2,579,063 for stock option and warrant expense and $300,000 in stock for services.
[2]Research and development expense includes stock option expenses of $17,406 and $36,176 for the quarters ending 9/30/2011 and 9/30/2010, respectively; $48,693 and $108,528 for the nine month periods ending 9/30/2011 and 9/30/2010, respectively; and $351,950 for the period from inception through 9/30/2011. Research and development expense also includes amortization expenses of $53,017 and $49,953 for the quarters ending 9/30/2011 and 9/30/2010, respectively; $157,490 and $145,962 for the nine month periods ending 9/30/2011 and 9/30/2010, respectively; and $737,243 for the period from inception through 9/30/2011.