Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)
 9 Months Ended 98 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Sep. 30, 2012
Cash Flows From Operating Activities:      
Net income (loss) $ (2,474,471) $ (458,692) $ (13,195,409)
Adjustments to reconcile net loss to net cash provided by (used for) operating activities:      
Amortization & depreciation 303 970 76,046
Compensatory equity issuances 1,898,957    8,238,274
Asset write offs 850    38,363
Accrued payables 89,941 48,135 2,002,929
Gain on sale of fixed asset (4,790)    (4,790)
Note payable/ beneficial conversion expense 140,821 (267,276) 414,385
Original issue discount - interest expense       40,000
Net cash provided by (used for) operating activities (348,389) (676,863) (2,390,202)
Cash Flows From Investing Activities:      
Proceeds received on sale of fixed asset 4,790    4,790
Fixed asset purchases (970) 4,059 (77,845)
Net cash provided by (used for) investing activities 3,820 4,059 (73,055)
Cash Flows From Financing Activities:      
Notes & loans payable - borrowings 149,386 16,000 1,005,647
Notes & loans payable - payments    (2,500) (38,726)
Repurchase of equity       (250,000)
Equity issuances 90,000 636,718 1,743,500
financing activities 239,386 650,218 2,460,421
Net Increase (Decrease) In Cash (105,183) (22,586) 2,836
Cash At The Beginning Of The Period 108,019 30,695   
Cash At The End Of The Period 2,836 8,109 2,836
Schedule Of Non-Cash Investing And Financing Activities      
Compensatory equity issuances 1,898,957    8,238,274
Debt converted to capital 59,000 1,072,068 1,546,875
Cash paid for interest 6,375    13,610
Cash paid for income taxes