Annual report pursuant to Section 13 and 15(d)

Statement of Operations

v2.4.0.6
Statement of Operations (USD $)
 12 Months Ended 129 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2011
Cumulative from March 19, 2001 (Inception) [Member]
Revenues:        
Revenues $ 0 $ 0 $ 0  
Development Stage Enterprise, Cumulative Revenue       0
Expenses:        
General and administrative 3,547,829 5,990,624 2,944,103 27,346,995
Research and development 11,992,087 3,934,701 3,176,971 31,885,603
Patent fees 546,027 329,925 303,220 2,101,005
Depreciation and amortization 45,070 50,659 41,604 640,537
Total Expenses 16,131,013 10,305,909 6,465,898 61,974,140
Loss from Operations (16,131,013) (10,305,909) (6,465,898) (61,974,140)
Other Income (Expense)        
Realized (loss) gain on marketable securities (3,960) 0 11,025 (13,301)
Interest income 109,240 133,268 67,445 1,421,307
Interest expense 0 0 0 (301,147)
Other income 0 56,047 0 56,047
Unrealized gain (loss) on fair value of warrants 4,778,450 (3,823,146) 1,793,101 3,676,105
Unrealized gain on fair value of put feature on common stock 0 97,713 1,915,179 2,315,539
Financing expense (97,667) (180,080) (223,950) (640,023)
Beneficial conversion feature 0 0 0 (1,625,000)
Total Other Income (Expense) 4,786,063 (3,716,198) 3,562,800 4,889,527
Net Loss Before Provision for Income Taxes (11,344,950) (14,022,107) (2,903,098) (57,084,613)
Provision for Income Taxes 0 0 0 0
Net Loss $ (11,344,950) $ (14,022,107) $ (2,903,098) $ (57,084,613)
Net loss per share, basic and diluted $ (0.12) $ (0.18) $ (0.05)  
Weighted Average number of shares outstanding, basic and diluted 93,048,490 78,662,495 61,441,442