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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended 86 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Revenue $ 0 $ 0 $ 0 $ 0 $ 0
Operating expense          
Research and development 517,040 [1] 156,036 [1] 624,681 [1] 557,135 [1] 6,469,166 [1]
General & administrative 754,548 [2] 240,543 [2] 1,135,400 [2] 480,354 [2] 9,829,509 [2]
Total operating expense 1,274,801 428,646 1,785,012 1,084,556 17,502,932
Net operating loss (1,274,801) (428,646) (1,785,012) (1,084,556) (17,502,932)
Other income (expense)          
Interest income 6,066 1,531 11,639 1,655 92,766
Other income 0 0 0 0 244,479
Other expense (42) (129) (281) (345) (5,264)
Total Other Income (Expense) 6,024 1,402 11,358 1,310 331,981
Net Loss (1,268,777) (427,244) (1,773,654) (1,083,246) (17,170,951)
Loss per share          
Net loss per share, basic and diluted $ (0.01) $ (0.01) $ (0.02) $ (0.02) $ (0.33)
Basic and diluted weighted average number of common shares outstanding 89,237,872 66,606,105 89,237,872 64,412,577 52,592,648
Related Party
         
Operating expense          
Research and development $ 3,213 [3] $ 32,067 [3] $ 24,931 [3] $ 47,067 [3] $ 1,204,257 [3]
[1] Research and development expense includes stock option expenses of $20,410 and $8,220 for the quarters ending 6/30/2014 and 6/30/2013, respectively; $27,032 and $19,633 for the six month periods ending 6/30/2014 and 6/30/2013, respectively; and $482,912 for the period from inception through 6/30/2014
[2] General & administrative expense includes stock for services, stock option and warrant expenses of $102,383 and $5,318 for the quarters ending 6/30/2014 and 6/30/2013, respectively; $182,039 and $9,923 for the six month periods ending 6/30/2014 and 6/30/2013, respectively; and $3,444,392 for the period from inception through 6/30/2014 for stock options and warrants and $318,500 in stock for services.
[3] Includes $690,000 technology impairment charge for the period from inception through 6/30/2014