Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v2.3.0.15
Condensed Balance Sheets (USD $)
Sep. 30, 2011
Jun. 30, 2011
Current assets:    
Cash $ 1,522,652 $ 2,843,300
Accounts receivable 320,348 344,085
Prepaid expenses 296,526 763,583
Other current assets 389,211 349,210
Total current assets 2,528,737 4,300,178
Fixed assets, net 7,353 8,412
Intangible assets, net 3,040,651 3,027,239
Total assets 5,576,741 7,335,829
Current liabilities:    
Accounts payable 2,980,785 2,895,359
Accrued expenses 226,579 56,059
Derivative instrument liability 1,483,277 4,187,769
Total liabilities 4,690,641 7,139,187
Commitments and contingencies    
Stockholders’ equity:    
Preferred stock, no par value, 1,000,000 shares authorized, no shares outstanding 0 0
Common stock, $0.001 par value, 100,000,000 shares authorized, 32,382,095 issued and outstanding as of September 30, 2011 and June 30, 2011, respectively 32,382 32,382
Additional paid-in capital 26,132,518 25,826,203
Accumulated deficit (25,278,800) (25,661,943)
Total stockholders’ equity 886,100 196,642
Total liabilities and stockholders’ equity $ 5,576,741 $ 7,335,829