Annual report pursuant to Section 13 and 15(d)

Condensed Consolidated Balance Sheets

v2.4.0.8
Condensed Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets    
Cash and cash equivalents $ 509,605 $ 189,367
Accounts receivable 383,859 274,464
Inventory    37,993
Prepaid expenses and other assets 63,132 68,598
Total current assets 956,596 570,422
Property and Equipment, net 173,072 343,584
License, net 70,589 76,471
Prepaid expenses and other assets 23,539 36,281
Debt issuance costs, net 700,011 125,534
Total assets 1,923,807 1,152,292
Current liabilities    
Accounts payable and accrued expenses 895,058 529,947
Accrued legal and consulting fees 365,348 220,159
Advances payable - related party 4,167 951,034
Convertible note payable of discontinued operations 50,000 50,000
Notes payable 300,000 150,000
Current liabilities of discontinued operations 266,032 262,032
Note payable - related party of discontinued operations    169,984
Total current liabilities 1,880,605 2,333,156
Convertible promissory notes payable 4,675,673 2,570,199
Accrued interest 273,877 134,975
Total liabilities 6,830,155 5,038,330
Stockholders' deficit    
Preferred stock, $.001 par value: 2,000,000 shares authorized      
Common stock; $.001 par value; 100,000,000 shares authorized; 35,299,429 shares issued and outstanding as of December 31, 2013 33,239,878 shares issued and outstanding as of December 31, 2012 35,299 33,240
Additional paid-in capital 13,789,473 9,958,202
Deficit accumulated during development stage (18,731,120) (13,877,480)
Total stockholders' deficit (4,906,348) (3,886,038)
Total liabilities and stockholders' deficit $ 1,923,807 $ 1,152,292