Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Cash Flows (Unaudited)

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Consolidated Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended 157 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Cash Flows From Operating Activities:      
Net loss $ (3,473,038) $ (2,471,500) $ (59,216,501)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:      
Stock-based compensation expense 188,400 240,400 6,240,436
Depreciation expense    317 3,262,462
Loss on disposition of equipment 4,122    554,307
Amortization of debt discount    451,267 900,000
Amortization of deferred financing costs    145,951 292,692
Gain on extinguishment of liability       (260,000)
Gain on change in fair value of derivative (26,764) (6,777) (726,150)
(Increase) decrease in:      
R&D reimbursable receivable (2,126) 50,069 (5,872)
Prepaid expenses and other current assets 85,000 (8,494) 61,604
Increase (decrease) in:      
Accounts payable and accrued liabilities (103,414) (263,465) 1,135,359
Accounts payable and accrued liabilities - related party       31,185
Net Cash Used In Operating Activities (3,327,820) (1,862,232) (47,730,478)
Cash Flows From Investing Activities:      
Payment made for patent rights       (3,000,000)
Purchase of property and equipment (1,112) (1,157) (816,771)
Net Cash Used In Investing Activities (1,112) (1,157) (3,816,771)
Cash Flows From Financing Activities:      
Borrowings on convertible debt, net of offering costs       645,888
Payments on note payable (103,050)    (103,050)
Sales of stock, net of offering costs    660,163 53,191,098
Proceeds from the exercise of warrants for cash 3,463,641    3,463,641
Net Cash Provided By Financing Activities 3,360,591 660,163 57,197,577
Net change in cash 31,659 (1,203,226) 5,650,328
Cash at beginning of period 5,618,669 5,703,798   
Cash at end of period 5,650,328 4,500,572 5,650,328
Supplemental disclosures of cash flow information:      
Cash paid for interest 561    1,243
Cash paid for taxes         
Supplemental disclosure of non-cash investing and financing activities:      
Beneficial conversion feature discount       372,850
Fair value of warrants issued with debt       377,150
Fair value of warrants issued with stock    318,087 5,985,238
Fair value of warrants issued to the placement agent    159,044 2,170,282
Conversion of notes payable and accrued interest to stock       981,729
Transfer from liability classification to equity classification $ 590,217    $ 4,821,542