Annual report pursuant to Section 13 and 15(d)

Unaudited Quarterly Financial Information

Unaudited Quarterly Financial Information

12 Months Ended

Dec. 31, 2012

Unaudited Quarterly Financial Information [Abstract]

Unaudited Quarterly Financial Information

15. Unaudited Quarterly Financial Information

The quarterly interim financial information shown below has been prepared by the Company’s management and is unaudited. It should be read in conjunction with the audited financial statements appearing herein.


	2012
	First			Second			Third			Fourth
Revenue	$	380,527		$	256,407		$	264,248		$	430,582

Total operating expenses		1,661,192			7,012,848			2,196,762			2,014,801
Net loss		(1,616,908	)		(6,928,771	)		(2,555,941	)		(1,988,826	)

Loss per share:
Basic and Diluted	$	(0.25	)	$	(0.52	)	$	(0.11	)	$	(0.07	)


	2011
	First			Second			Third			Fourth
Revenue	$	349,937		$	347,569		$	350,351		$	396,590

Total operating expenses		1,770,347			2,323,126			1,927,049			2,056,661
Net loss		(1,559,013	)		(2,373,243	)		(1,807,290	)		(1,939,322	)

Loss per share:
Basic and Diluted	$	(0.28	)	$	(0.42	)	$	(0.32	)	$	(0.33	)

- Definition

The entire disclosure for the quarterly financial data in the annual financial statements. The disclosure may include a tabular presentation of financial information for each fiscal quarter for the current and previous year, including revenues, gross profit, income or loss before extraordinary items and earnings per share data. It also includes an indication if the information in the note is unaudited, comments on the aggregate effect of year-end adjustments, and an explanation of matters or transactions that affect comparability or are pertinent to an understanding of the information furnished.

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