Quarterly report pursuant to sections 13 or 15(d)

Condensed Consolidated Statement of Shareholders Equity (Unaudited)

v2.4.0.6
Condensed Consolidated Statement of Shareholders Equity (Unaudited) (USD $)
Preferred Stock
Common Stock
Additional Paid-In Capital
Accumulated Deficit
Total
Beginning Balance, amount at Dec. 31, 2011 $ 8,222 $ 409 $ 30,185,200 $ (29,808,015) $ 385,816
Beginning Balance, shares at Dec. 31, 2011 8,221,678 408,589      
Conversion of preferred shares and accumulated dividends, Shares (8,221,678) 2,364,553      
Conversion of preferred shares and accumulated dividends, Amount (8,222) 2,364 5,858    0
Stock based compensation     46,254    46,254
Conversion of notes payable and accrued interest into common stock in private placement, Shares   27,369      
Conversion of notes payable and accrued interest into common stock in private placement, Amount   27 262,713    262,740
Common stock sold in private placement, net of expenses   1,800,759      
Common stock sold in private placement, net of expenses   1,801 15,651,059    15,652,860
Common stock issued to shell company as part of reverse merger, Shares   53,033      
Common stock issued to shell company as part of reverse merger, Amount   53 (53)    0
Net loss       (597,314) (597,314)
Ending Balance, amount at Mar. 31, 2012 $ 0 $ 4,654 $ 46,151,031 $ (30,405,329) $ 15,750,356
Ending Balance, shares at Mar. 31, 2012 0 4,654,303