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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenue $ 0 $ 0 $ 0 $ 0
Operating expense        
Research and development 424,521 [1] 568,576 [1] 1,048,716 [1] 1,125,711 [1]
General & administrative 713,352 [2] 810,152 [2] 1,848,751 [2] 1,290,506 [2]
Total operating expense 1,154,108 1,393,728 2,939,121 2,478,284
Net operating loss (1,154,108) (1,393,728) (2,939,121) (2,478,284)
Other income (expense)        
Interest income 5,713 837 17,353 2,492
Other expense (14) (316) (295) (661)
Total Other Income (Expense) 5,699 521 17,058 1,831
Net Loss (1,148,409) (1,393,207) (2,922,063) (2,476,453)
Loss per share        
Net loss per share, basic and diluted $ (0.01) $ (0.02) $ (0.03) $ (0.04)
Basic and diluted weighted average number of common shares outstanding 89,237,872 75,380,214 89,237,872 68,068,456
Related Party
       
Operating expense        
Research and development $ 16,235 $ 15,000 $ 41,654 $ 62,067
[1] Research and development expense includes stock option expenses of $29,235 and $6,623 for the quarters ending 9/30/2014 and 9/30/2013, respectively; and $56,267 and $26,256 for the nine month periods ending 9/30/2014 and 9/30/2013, respectively. Research and development expense also includes amortization expenses of $40,156 for the quarters ending 9/30/2014 and 9/30/2013; and $120,469 for the nine month periods ending 9/30/2014 and 9/30/2013.
[2] General & administrative expense includes stock for services, stock option and warrant expenses of $88,812 and $599,424 for the quarters ending 9/30/2014 and 9/30/2013; respectively; and $270,851 and $609,347 for the nine month periods ending 9/30/2014 and 9/30/2013, respectively.