Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v2.4.0.6
Condensed Balance Sheets (USD $)
Mar. 31, 2012
Jun. 30, 2011
Current assets:    
Cash $ 6,724,096 $ 2,843,300
Accounts receivable 371,755 344,085
Prepaid expenses 205,069 763,583
Other current assets 376,879 349,210
Total current assets 7,677,799 4,300,178
Fixed assets, net 6,072 8,412
Intangible assets, net 2,971,893 3,027,239
Total assets 10,655,764 7,335,829
Current liabilities:    
Accounts payable 2,182,401 2,895,359
Accrued expenses 303,891 56,059
Derivative instrument liability 1,314,937 4,187,769
Total liabilities 3,801,229 7,139,187
Commitments and contingencies      
Stockholders’ equity:    
Preferred stock, $0.001 par value, 1,000,000 shares authorized, no shares outstanding      
Common stock, $0.001 par value, 100,000,000 shares authorized, 47,767,095 and 32,382,095 issued and outstanding as of March 31, 2012 and June 30, 2011, respectively 47,767 32,382
Additional paid-in capital 36,781,966 25,826,203
Accumulated deficit (29,975,198) (25,661,943)
Total stockholders’ equity 6,854,535 196,642
Total liabilities and stockholders’ equity $ 10,655,764 $ 7,335,829