Quarterly report pursuant to sections 13 or 15(d)

Consolidated Balance Sheets

v2.4.0.8
Consolidated Balance Sheets (USD $)
Dec. 31, 2013
Sep. 30, 2013
Current assets:    
Cash and cash equivalents $ 945,398 $ 557,319
Promissory note receivable 0 1,000,000
Prepaid expenses and other current assets 39,629 19,629
Total current assets 985,027 1,576,948
Long-term Assets:    
Property and equipment, net 322 322
Other assets 10,062 10,062
Total long-term assets 10,384 10,384
Total assets 995,411 1,587,332
Current liabilities:    
Accounts payable 309,571 314,769
Accrued expenses and other liabilities 203,230 140,840
Total current liabilities 512,801 455,609
Long-term liabilities:    
Note payable 947,472 944,707
Accrued interest 25,000 0
Total long-term liabilities 972,472 944,707
Total liabilities 1,485,273 1,400,316
Commitments and contingencies      
Stockholders’ (deficit) equity:    
Common stock, $0.001 par value, 300,000,000 shares authorized and 60,145,237 shares issued and outstanding as of December 31 and September 30, 2013 60,145 60,145
Additional paid in capital 4,890,305 4,758,742
Deficit accumulated during the development stage (5,440,312) (4,631,871)
Total stockholders’ (deficit) equity (489,862) 187,016
Total liabilities and stockholders' (deficit) equity: $ 995,411 $ 1,587,332