Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 9 Months Ended
Sep. 30, 2014
Sep. 30, 2013
Sep. 30, 2014
Sep. 30, 2013
Revenues $ 0 $ 0 $ 0 $ 0
Operating Expenses        
Research and development 129,959 17,202 675,371 211,008
Research and development - related party 183,965 200,000 795,168 602,629
Selling, general and administrative 401,374 106,367 1,034,679 234,220
Total Operating Expenses 715,298 323,569 2,505,218 1,047,857
Loss From Operations (715,298) (323,569) (2,505,218) (1,047,857)
Other (Expense) Income        
Interest expense 0 (96,133) 0 (492,667)
Change in fair value of derivative liabilities 28,800 0 12,400 64,500
Total Other Income (Expense) 28,800 (96,133) 12,400 (428,167)
Net Loss $ (686,498) $ (419,702) $ (2,492,818) $ (1,476,024)
Net Loss Per Share - Basic and Diluted (in dollars per share) $ (0.03) $ (0.03) $ (0.12) $ (0.12)
Weighted Average Number of Shares Outstanding, Basic and Diluted (in shares) 25,470,917 12,763,818 21,031,339 12,763,818