Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v2.4.0.6
Condensed Balance Sheets (USD $)
Mar. 31, 2013
Jun. 30, 2012
Current assets:    
Cash $ 1,526,581 $ 5,624,403
Accounts receivable 390,186 351,409
Prepaid expenses and other current assets 293,811 924,333
Total current assets 2,210,578 6,900,145
Fixed assets, net of accumulated depreciation of $19,763 as of March 31, 2013 and $18,788 as of June 30, 2012 4,739 2,497
Intangible assets, net of accumulated amortization 2,765,876 2,861,940
Total Assets 4,981,193 9,764,582
Current liabilities:    
Accounts payable 2,416,194 2,845,518
Accrued expenses 250,643 230,300
Warrant derivative liability 16,668 519,725
Total Liabilities 2,683,505 3,595,543
Commitments and contingencies      
Stockholders’ Equity:    
Preferred stock, no par value; 1,000,000 shares authorized; no shares outstanding      
Common stock, $0.001 par value; 100,000,000 shares authorized; 47,767,095 shares issued and outstanding as of March 31, 2013 and June 30, 2012 47,767 47,767
Additional paid-in capital 38,468,251 37,459,053
Accumulated deficit (36,218,330) (31,337,781)
Total Stockholders’ Equity 2,297,688 6,169,039
Total Liabilities and Stockholders’ Equity $ 4,981,193 $ 9,764,582