XML 55 R2.htm IDEA: XBRL DOCUMENT v2.4.0.8
Consolidated Balance Sheets (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current assets:    
Cash and cash equivalents $ 27,982 $ 16,528
Short-term investments 25,878 838,309
Restricted marketable securities   42,450
Prepaid expenses and other current assets 31,355 2,720
Total current assets 85,215 900,007
Property and equipment, net   1,186
Deferred charges 62,671 64,514
Total assets 147,886 965,707
Current liabilities:    
Accounts payable and accrued expenses 1,726,506 2,278,398
Notes payable 6,460,000 6,410,000
Accrued interest on notes payable 1,142,225 919,526
Deferred revenue 73,730 73,730
Other current liabilities   60,126
Advances from related party 425,000 325,000
Total current liabilities 9,827,461 10,066,780
Contingent royalty 16,000,000 16,000,000
Deferred revenue, net of current portion 1,179,683 1,216,547
Other long-term liabilities 33,750 33,750
Total liabilities 27,040,894 27,317,077
Commitments and contingencies      
Series F convertible redeemable preferred stock, $.01 par value; 200,000 shares designated; 12,000 shares issued and outstanding at June 30, 2013 and December 31, 2012, (liquidation preference of $300,000 at June 30, 2013) 379,857 369,501
Stockholders' deficit:    
Preferred stock, $.01 par value; 1,000,000 shares authorized; 25,000 shares designated Convertible Series A, 500,000 shares designated Convertible Series D and 800 shares designated Convertible Series E; no shares issued and outstanding at June 30, 2013 and December 31, 2012, respectively      
Common stock, $.01 par value; 80,000,000 shares authorized at June 30, 2013 and December 31, 2012; 30,635,720 issued and outstanding at June 30, 2013 and December 31, 2012 306,357 306,357
Additional paid-in capital 171,965,164 171,975,520
Accumulated other comprehensive loss (32,935) (309,204)
Deficit accumulated during development stage (199,511,451) (198,693,544)
Total stockholders' deficit (27,272,865) (26,720,871)
Total liabilities and stockholders' deficit $ 147,886 $ 965,707