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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 83 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Revenue $ 0 $ 0 $ 0
Operating expense      
Research and development 107,641 [1] 401,099 [1] 5,952,122 [1]
General & administrative 380,850 [2] 239,811 [2] 9,074,964 [2]
Total operating expense 510,210 655,910 16,228,130
Net operating loss (510,210) (655,910) (16,228,130)
Other income (expense)      
Interest income 5,573 124 86,699
Other income 0 0 244,479
Other expense (239) (216) (5,222)
Total Other Income (Expense) 5,334 (92) 325,956
Net Loss (504,876) (656,002) (15,902,174)
Loss per share      
Net loss per share, basic and diluted $ (0.01) $ (0.01) $ (0.31)
Basic and diluted weighted average number of common shares outstanding 89,237,872 62,219,050 51,268,122
Related Party
     
Operating expense      
Research and development $ 21,719 [3] $ 15,000 [3] $ 1,201,044 [3]
[1] Research and development expense includes stock option expense of $6,623 and $11,414 for the quarters ending 3/31/2014 and 3/31/2013, respectively; and $462,500 for the period from inception through 3/31/2014. Research and development expense also includes amortization expense of $40,156 for the quarters ending 3/31/2014 and 3/31/2013; and $1,177,515 for the period from inception through 3/31/2014.
[2] General & administrative expense includes stock option expense of $79,655 and $4,605 for the quarters ending 3/31/2014 and 3/31/2013, respectively; and for the period from inception through 3/31/2014, $3,342,011 for stock option and warrant expense and $318,500 in stock for services.
[3] Includes $690,000 technology impairment charge for the period from inception through 3/31/2014.