Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 12 Months Ended 101 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2012
Cash Flows From Operating Activities:      
Net income (loss) $ (3,560,921) $ (1,182,243) $ (14,362,701)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:      
Amortization & depreciation 606 911 76,349
Compensatory equity issuances 2,325,999    8,665,316
Asset write offs       37,513
Accrued payables 250,709 678,156 2,250,211
Gain on sale of fixed asset (4,790)    (4,790)
Fair value adjustments - equity obligation 448,137    448,137
Note pay. beneficial conversion expense 112,064 70,000 385,628
Original issue discount - interest expense 21,501    61,501
Other 292    292
Net cash provided by (used for) operating activities (406,403) (433,176) (2,442,544)
Fixed asset purchases (970)    (77,845)
Fixed asset sales 1,250    1,250
Net cash provided by (used for) investing activities 280    (76,595)
Cash Flows From Financing Activities:      
Notes & loans payable - borrowings 166,886 86,000 1,023,147
Notes & loans payable - payments    (11,500) (38,726)
Repurchase of equity       (250,000)
Stock subscription payable 10,000    10,000
Equity issuances 122,000 436,000 1,775,500
Net cash provided by (used for) financing activities 298,886 510,500 2,519,921
Net Increase (Decrease) In Cash (107,237) 77,324 782
Cash At The Beginning Of The Period 108,019 30,695   
Cash At The End Of The Period 782 108,019 782
Schedule Of Non-Cash Investing And Financing Activities      
Compensatory equity issuances 2,325,999    8,665,316
Debt converted to capital 70,000 1,110,875 1,557,875
Note to stock subacription payable 16,000    16,000
Cash paid for interest 7,159 563 14,394
Cash paid for income taxes