Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) (USD $)
Sep. 30, 2014
Dec. 31, 2013
Current Assets:    
Cash and cash equivalents $ 11,750,675 $ 5,533,366
Prepaid expenses and other current assets 671,903 218,389
Total Current Assets 12,422,578 5,751,755
Property and equipment, net of accumulated depreciation 141,011 13,920
Security deposit 34,733   
Total Assets 12,598,322 5,765,675
Current Liabilities:    
Accounts payable and accrued expenses 1,731,207 378,955
Accounts payable and accrued expenses - related party 278,291 81,185
Note payable    157,825
Derivative liabilities 8,216,935 6,707,255
Total Current Liabilities 10,226,433 7,325,220
Total Liabilities 10,226,433 7,325,220
Commitments and contingencies      
Stockholders' Equity (Deficit):    
Preferred stock, $0.01 par value; 50,000,000 authorized, none issued and outstanding      
Common stock, $0.001 par value; 200,000,000 shares authorized; 29,619,495 and 24,565,447 shares issued and outstanding, respectively 29,620 24,565
Additional paid-in capital 88,120,950 64,933,145
Accumulated deficit (85,778,681) (66,517,255)
Total Stockholders' Equity (Deficit) 2,371,889 (1,559,545)
Total Liabilities and Stockholders' Equity (Deficit) $ 12,598,322 $ 5,765,675