UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934.

 

For the quarterly period ended December 31, 2012

 

Commission File Number: 333-148471

 

NANOVIRICIDES, INC.

 

(Exact name of Company as specified in its charter)

 

NEVADA	76-0674577
(State or other jurisdiction)	(IRS Employer Identification No.)
of incorporation or organization)

 

135 Wood Street, Suite 205

West Haven, Connecticut 06516

(Address of principal executive offices and zip code)

 

(203) 937-6137

( Company’s telephone number, including area code)

 

Indicate by check mark whether the Company (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the Company was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes   x    No   ¨

 

Indicate by check mark whether the Company has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Company was required to submit and post such files). Yes x   No ¨

 

Indicate by check mark whether the Company is a larger accelerated filer, an accelerated filer, or a non-accelerated filer. See definition of "accelerated filer and large accelerated filer" in Rule 12b-2 of the Exchange Act. (Check one)

 

Large accelerated filer	¨	Accelerated filer	¨
Non-accelerated filer	x	Smaller reporting company	¨

 

Indicate by check mark whether the Company is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ¨    No x

 

The number of shares outstanding of the Company's Common Stock as of February 14, 2013 was: 161,985,997

 

 

NanoViricides, Inc.

FORM 10-Q

INDEX

 

PART I FINANCIAL INFORMATION
Item 1. Financial Statements
Item 2.   Management's Discussion and Analysis of Financial Condition and Results of Operations	24
Item 3.   Quantitative and Qualitative Disclosures About Market Risk	28
Item 4.   Controls and Procedures	28
PART II OTHER INFORMATION
Item 1.   Legal Proceedings	30
Item 2.   Unregistered Sales of Equity Securities and Use of Proceeds	30
Item 3.   Defaults Upon Senior Securities	31
Item 4.   Mine Safety Disclosures	31
Item 5.   Other Information	31
Item 6.   Exhibits and Reports on Form 8-K	32
Signatures	33
Certifications

 

 NanoViricides, Inc.

 

(A Development Stage Company)

Balance Sheets

 

		December 31, 2012				June 30, 2012
		(Unaudited)
ASSETS
CURRENT ASSETS:
Cash and cash equivalents		$	13,879,872			$	14,274,985
Prepaid expenses			801,588				314,174
Total Current Assets			14,681,460				14,589,159
PROPERTY AND EQUIPMENT
Property and equipment			1,440,717				1,440,717
Accumulated depreciation			(931,313	)			(825,875	)
Property and equipment, net			509,404				614,842
TRADEMARK
Trademark			458,954				458,954
Accumulated amortization			(37,534	)			(33,147	)
Trademark, net			421,420				425,807
Total Assets		$	15,612,284			$	15,629,808
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES:
Accounts payable		$	286,312			$	238,358
Accounts payable – related parties			666,884				365,681
Accrued expenses			71,489				96,878
Derivative liability			372,733				1,078,698
Total Current Liabilities			1,397,418				1,779,615
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY:
Series A Convertible Preferred stock, $0.001 par value, 10,000,000 shares designated,
9,871,250 shares issued and outstanding			9,872				9,872
Series B Convertible Preferred stock, $0.001 par value, 10,000,000 shares designated,
None issued and outstanding			-				-
Series C Convertible Preferred stock, $0.001 par value, 10,000,000 shares designated,
2,346 and 2,353 shares issued and outstanding, respectively			2				2
Common stock, $0.001 par value; 300,000,000 shares authorized;
160,911,462 and 155,612,293 shares issued and outstanding, respectively			160,942				155,645
Additional paid-in capital			46,480,506				43,108,790
Deficit accumulated during the development stage			(32,436,456	)			(29,424,116	)
Total Stockholders' Equity			14,214,866				13,850,193
Total Liabilities and Stockholders' Equity		$	15,612,284			$	15,629,808

 

See accompanying notes to the financial statements

 

 NanoViricides, Inc.

 

(A Development Stage Company)

Statements of Operations

 

																		For the Period from
		For the Three Months				For the Three Months				For the Six Months				For the Six Months				May 12, 2005 (inception)
		Ended				Ended				Ended				Ended				through
		December 31, 2012				December 31, 2011				December 31, 2012				December 31, 2011				December 31, 2012
		(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)				(Unaudited)
OPERATING EXPENSES
Research and development		$	710,197			$	1,011,466			$	1,920,015			$	1,670,040			$	20,431,166
Refund credit research and development costs			-				-				-				-				(420,842	)
General and administrative			533,407				325,598				917,229				787,675				11,634,607
Total operating expenses			1,243,604				1,337,064				2,837,244				2,457,715				31,644,931
LOSS FROM OPERATIONS			(1,243,604	)			(1,337,064	)			(2,837,244	)			(2,457,715	)			(31,644,931	)
OTHER INCOME (EXPENSE):
Interest income, net			15,495				20,355				51,453				9,482				263,564
Discount on convertible debentures			-				-				-				-				(73,930	)
Beneficial conversion feature of convertible debentures			-				-				-				-				(713,079	)
Change in fair market value of derivatives			19,724				(74,610	)			(226,549	)			(83,062	)			(268,080	)
Other income (expense), net			35,219				(54,255	)			(175,096	)			(73,580	)			(791,525	)
LOSS BEFORE INCOME TAX PROVISION			(1,208,385	)			(1,391,319	)			(3,012,340	)			(2,531,295	)			(32,436,456	)
INCOME TAX PROVISION			-				-				-				-				-
NET LOSS		$	(1,208,385	)		$	(1,391,319	)		$	(3,012,340	)			(2,531,295	)		$	(32,436,456	)
NET LOSS PER COMMON SHARE
- BASIC AND DILUTED:		$	(0.01	)		$	(0.01	)		$	(0.02	)			(0.02	)
Weighted average common shares outstanding
- basic and diluted			157,845,001				147,455,000				157,311,054				145,997,000

 

 

See accompanying notes to the financial statements

 

 

NanoViricides, Inc.

(A Development Stage Company)

Statement of Stockholders' Equity

For the interim period ended December 31, 2012

(Unaudited)

 

																																						Deficit
																																						Accumulated
		Series A Preferred Stock: Par $0.001								Series B Preferred Stock: Par $0.001								Series C Preferred Stock Par $0.001								Common Stock: Par $0.001								Additional				During the				Total
		Number of								Number of								Number of								Number of								Paid-in				Development				Stockholders'
		Shares				Amount				Shares				Amount				Shares				Amount				Shares				Amount				Capital				Stage				Equity
Balance, June 30, 2010			7,593,750			$	7,594				260,000			$	260				-			$	-				133,980,471			$	133,981			$	23,116,612			$	(16,739,743	)		$	6,518,704
Common shares issued for conversion of Series B Preferred Shares at $1.51 per share, July 7, 2010																											397,088				397												397
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, July 7, 2010											(60,000	)			(60	)																											(60	)
Dividend paid to Seaside 88, LP, July 7, 2010																																			(9,973	)							(9,973	)
Common shares issued as dividend to Seaside 88, LP at $1.65 per share, July 7, 2010																											6,061				6				9,967								9,973
Derivative liability - retirement of Series B Preferred Shares, July 7, 2010																																			116,715								116,715
Common shares issued for conversion of Series B Preferred Shares at $1.30 per share, July 21, 2010																											463,177				463												463
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, July 21, 2010											(60,000	)			(60	)																											(60	)
Dividend paid to Seaside 88, LP, July 21, 2010																																			(7,671	)							(7,671	)
Common shares issued as dividend to Seaside 88, LP at $1.32 per share, July 21, 2010																											5,794				6				7,665								7,671
Derivative liability - retirement of Series B Preferred Shares, July 21, 2010																																			113,700								113,700
Common shares issued for consulting and legal services valued at $2.087 per share, July 31, 2010																											3,086				3				4,997								5,000
Common shares issued for conversion of Series B Preferred Shares at $1.14 per share, August 4, 2010																											526,916				527												527
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, August 4, 2010											(60,000	)			(60	)																											(60	)
Dividend paid to Seaside 88, LP, August 4, 2010																																			(5,370	)							(5,370	)
Common shares issued as dividend to Seaside 88, LP, at $1.14 per share, August 4, 2010																											4,716				5				5,365								5,370
Derivative liability - retirement of Series B Preferred Shares, August 4, 2010																																			104,480								104,480
Warrants issued to Scientific Advisory Board, August 15, 2010																																			45,000								45,000
Common shares issued in conversion of Series B Preferred Shares at $0.99 per share, August 18, 2010																											606,367				606												606
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, August 18, 2010											(60,000	)			(60	)																											(60	)
Dividend paid to Seaside 88, LP, August 18, 2010																																			(3,068	)							(3,068	)
Common shares issued as dividend to Seaside 88, LP at $0.99 per share, August 18, 2010																											3,101				3				3,065								3,068
Derivative liability - retirement of Series B Preferred Shares, August 18, 2010																																			104,795								104,795
Common shares issued for consulting and legal services valued at $1.24 per share, August 31, 2010																											4,032				4				4,996								5,000
Common shares issued for conversion of Series B Preferred Shares at $0.93 per share, September 1, 2010																											215,332				215												215
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, September 1, 2010											(20,000	)			(20	)																											(20	)
Dividend paid to Seaside 88, LP, September 1, 2010																																			(767	)							(767	)
Common shares issued as dividend to Seaside 88, LP at $1.00 per share, September 1, 2010																											766				1				766								767
Derivative liability - retirement of Series B Preferred Shares, September 1, 2010																																			34,841								34,841
Series B Preferred Shares issued to SeaSide 88, LP, September 21, 2010											250,000				250																				2,499,750								2,500,000
Placement Agents fees related to sale of Convertible Preferred shares, September 21, 2010																																			(195,000	)							(195,000	)
Legal fees related to sale of Convertible Preferred Stock, September 21, 2010																																			(10,000	)							(10,000	)
Derivative liability - issuance of Series B Preferred Shares																																			(328,086	)							(328,086	)
Common shares issued for conversion of Series B Preferred Shares at $0.93 per share, September 21, 2010																											430,015				430												430
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, September 21, 2010											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, September 21, 2010																																			103,012								103,012
Common shares issued for consulting and legal services valued at $1.07 per share, September 30, 2010																											4,673				5				4,995								5,000
Common shares issued for conversion of Series B Preferred Shares at $0.87 per share, October 5, 2010																											460,246				460												460
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, October 5, 2010											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, on October 5, 2010																																			(8,055	)							(8,055	)
Common shares issued as dividend to Seaside 88, LP at $0.87 per share, October 5, 2010																											9,268				9				8,046								8,055
Derivative liability - Retirement of Series B Preferred Shares, October 5, 2010																																			103,330								103,330
Common shares issued for conversion of Series B Preferred Shares at $0.88 per share, October 19, 2010																											452,965				453												453
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, October 19, 2010											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, October 19, 2010																																			(6,521	)							(6,521	)
Common shares issued as dividend to Seaside 88, LP at $0.88 per share, October 19, 2010																											7,384				7				6,514								6,521
Derivative liability - Retirement of Series B Preferred Shares, October 19, 2010																																			69,635								69,635
Common shares issued for consulting and legal services valued at $1.03 per share, October 31, 2010																											4,854				5				4,995								5,000
Series A Preferred Shares issued for employee stock compensation, November 1, 2010			30,000				30																												53,903								53,933
Common shares issued for conversion of Series B Preferred Shares at $0.87 per share, November 2, 2010																											461,313				461												461
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, August 4, 2010											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, November 2, 2010																																			(4,986	)							(4,986	)
Common shares issued as dividend to Seaside 88, LP at $0.87 per share, November 2, 2010																											5,751				6				4,980								4,986
Derivative liability - retirement of Series B Preferred Shares, November 2, 2010																																			69,104								69,104
Warrants issued to Scientific Advisory Board, November 15, 2010																																			55,800								55,800
Common shares issued for conversion of Series B Preferred Shares at $1.16 per share, November 16, 2010																											345,817				346												346
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, November 16, 2010											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, November 16, 2010																																			(3,452	)							(3,452	)
Common shares issued as dividend to Seaside 88, LP at $1.16 per share, November 16, 2010																											2,984				3				3,449								3,452
Derivative liability - Retirement of Series B Preferred Shares, November 16, 2010																																			69,187								69,187
Common shares issued for conversion of Series B Preferred Shares at $1.35 per share, November 30, 2010																											310,566				311												311
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, November 30, 2010											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, November 30, 2010																																			(1,918	)							(1,918	)
Common shares issued as dividend to Seaside 88, LP at $1.35 per share, November 30, 2010																											1,417				1				1,917								1,918
Derivative liability - Retirement of Series B Preferred Shares, November 30, 2010																																			69,449								69,449
Common shares issued for consulting and legal services valued at $1.46 per share, November 30, 2010																											3,425				3				4,997								5,000
Common shares issued for conversion of warrants to Common Stock at $1.00 per share, December 10, 2010																											25,000				25				24,975								25,000
Common shares issued as compensation pursuant to S-8 at $1.28 per share, December 10, 2010																											50,000				50				63,950								64,000
Common shares issued for conversion of Series B Preferred Shares at $1.10 per share, December 14, 2010																											90,840				91												91
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, December 14, 2010											(10,000	)			(10	)																											(10	)
Dividend paid to Seaside 88, LP, December 14 2010																																			(384	)							(384	)
Common shares issued as Dividend to Seaside 88, LP, at $1.10 per share, December 14, 2010																											348				-				384								384
Derivative liability - retirement of Series B Preferred Shares, December 14, 2010																																			17,438								17,438
Series B Preferred Shares issued to SeaSide 88, LP, December 21, 2010											250,000				250																				2,499,750								2,500,000
Placement Agents fees related to sale of Convertible Preferred shares, December 21, 2010																																			(200,000	)							(200,000	)
Common shares issued for consulting and legal services valued at $1.32 per share, December 31, 2010																											4,545				5				5,995								6,000
Adjustment																															33												33
Common shares issued for conversion of Series B Preferred Shares at $1.16 per share, January 3, 2011																											343,796				344												344
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, January 3, 2011											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, January 3, 2011																																			(8,904	)							(8,904	)
Common shares issued as dividend to Seaside 88, LP at $1.16 per share, January 3, 2011																											7,653				8				8,896								8,904
Derivative liability - retirement of Series B Preferred Shares, January 3, 2011																																			73,532								73,532
Common shares issued for conversion of Series B Preferred Shares at $1.26 per share, January 17, 2011																											317,965				318												318
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, January 17, 2011											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, January 17, 2011																																			(8,055	)							(8,055	)
Common shares issued as dividend to Seaside 88, LP at $1.26 per share, January 17, 2011																											6,403				6				8,049								8,055
Derivative liability - retirement of Series B Preferred Shares, January 17, 2011																																			70,882								70,882
Common shares issued for conversion of Series B Preferred Shares at $1.12 per share, January 31, 2011																											356,422				356												356
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, January 31, 2011											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, January 31, 2011																																			(6,521	)							(6,521	)
Common shares issued as dividend to Seaside 88, LP at $1.24 per share, January 31, 2011																											5,271				5				6,516								6,521
Derivative liability - retirement ofSeries B Preferred Shares, January 31, 2011																																			72,432								72,432
Common shares issued for consulting and legal services valued at $1.47 per share, January 31, 2011																											4,087				4				5,996								6,000
Common shares issued for conversion of warrants at $1.00 per share, February 4, 2011																											25,000				25				24,975								25,000
Common shares issued for conversion of Series B Preferred Shares at $1.08 per share, February 14, 2011																											370,017				370												370
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, February 14, 2011											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, February 14, 2011																																			(4,986	)							(4,986	)
Common shares issued as dividend to Seaside 88, LP, at $1.08 per share, February 14, 2011																											4,613				5				4,981								4,986
Derivative liability - retirement of Series B Preferred Shares, February 14, 2011																																			71,699								71,699
Warrants issued to Scientific Advisory Board, Feburary 15, 2011																																			54,000								54,000
Common shares issued for conversion of Series B Preferred Shares at $0.99 per share, February 28, 2011																											405,610				406												406
Derivative liability - retirement of Series B Preferred Shares, February 28, 2011																																			71,490								71,490
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, February 28, 2011											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, February 28, 2011																																			(3,452	)							(3,452	)
Common shares issued as dividend to Seaside 88, LP at $0.99 per shares, February 28, 2011																											3,500				4				3,448								3,452
Common shares issued for consulting and legal services valued at $1.22 per share, February 28, 2011																											4,902				5				5,995								6,000
Common shares issued for employee stock compensation at $1.32 per share, March 3, 2011																											125,000				125				158,000								158,125
Common shares issued for employee stock compensation at $1.32 per share, March 3, 2011																											125,000				125				158,000								158,125
Series A Preferred Shares issued for employee stock compensation, March 3, 2011			250,000				250																												574,331								574,581
Series A Preferred Shares issued for employee stock compensation, March 3, 2011			250,000				250																												574,331								574,581
Series A Preferred Shares issued for employee stock compensation, March 3, 2011			93,750				94																												215,374								215,468
Common shares issued for conversion of Series B Preferred Shares at $1.09 per share, March 14, 2011																											367,274				367												367
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, March 14, 2011											(40,000	)			(40	)																											(40	)
Dividend paid to Seaside 88, LP, March 14, 2011																																			(1,918	)							(1,918	)
Common shares issued as Dividend to Seaside 88, LP at $1.09 per shares, March 14, 2011																											1,761				2				1,916								1,918
Derivative Liability - Retirement of Series B Preferred Shares, March 14, 2011																																			70,566								70,566
Common shares issued for conversion of Series B Preferred Shares at $1.11 per share, March 28, 2011																											89,986				90												90
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, March 28, 2011											(10,000	)			(10	)																											(10	)
Dividend paid to Seaside 88, LP, March 28, 2011																																			(384	)							(384	)
Common shares issued as dividend to Seaside 88, LP, at $1.11 per share, March 28, 2011																											345				-				384								384
Derivative liability - retirement of Series B Preferred Shares, March 28, 2011																																			17,525								17,525
Common shares issued for consulting and legal services valued at $1.28 per share, March 31, 2011																											4,680				5				5,995								6,000
Common shares issued for conversion of warrants to common stock at $1.00 per share, April 10, 2011																											10,000				10				9,990								10,000
Series B Preferred Shares issued to SeaSide 88, LP, April 18, 2011											250,000				250																				2,499,750								2,500,000
Placement Agents fees related to sale of Convertible Preferred shares, April 18, 2011																																			(160,000	)							(160,000	)
Legal fees related to Sale of Convertible Preferred Stock, April 18, 2011																																			(25,000	)							(25,000	)
Derivative liability - issuance of Series B Preferred Shares																																			(429,725	)							(429,725	)
Common shares issued for conversion of Series B Preferred Shares at $1.28 per share, April 18, 2011																											312,163				312				(272	)							40
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, April 18, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, April 18, 2011																																			68,756								68,756
Common shares issued for consulting and legal services valued at $1.47 per share, April 30, 2011																											4,087				4				5,996								6,000
Common shares issued for conversion of Series B Preferred Shares at $1.18 per share, May 2, 2011																											339,726				340				(300	)							40
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, May 2, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, May 2, 2011																																			68,941								68,941
Dividend paid to Seaside 88, LP, May 2, 2011																																			(8,055	)							(8,055	)
Common shares issued as dividend to Seaside 88, LP at $1.18 per shares, May 2, 2011																											6,841				7				8,048								8,055
Warrants issued to Scientific Advisory Board, May 15, 2011																																			50,400								50,400
Common shares issued for conversion of Series B Preferred Shares at $1.19 per share, May 16, 2011																											336,501				337				(297	)							40
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, May 16, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, May 16, 2011																																			69,194								69,194
Dividend paid to Seaside 88, LP, May 16, 2011																																			(6,521	)							(6,521	)
Common shares issued as dividend to Seaside 88, LP at $1.20 per shares, May 16, 2011																											5,438				5				6,516								6,521
Common shares issued for conversion of Series B Preferred Shares at $1.23 per share, May 30, 2011																											326,480				326				(286	)							40
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, May 30, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, May 30, 2011																																			69,464								69,464
Dividend paid to Seaside 88, LP, May 30, 2011																																			(4,986	)							(4,986	)
Common shares issued as Dividend to Seaside 88, LP at $1.23 per share, May 30, 2011																											4,070				4				4,982								4,986
Common shares issued for consulting and legal services valued at $1.47 per share, May 31, 2011																											4,087				4				5,996								6,000
Common shares issued for conversion of Series B Preferred Shares at $1.18 per share, June 13, 2011																											339,971				340				(300	)							40
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, June 13, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, June 13, 2011																																			69,727								69,727
Dividend paid to Seaside 88, LP, June 13, 2011																																			(3,452	)							(3,452	)
Common shares issued as Dividend to Seaside 88, LP at $1.18 per share, June 13, 2011																											2,934				3				3,449								3,452
Common shares issued for conversion of Series B Preferred Shares at $1.02 per share, June 27, 2011																											391,850				392				(352	)							40
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, June 27, 2011											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Series B Preferred Share, June 27, 2011																																			69,973								69,973
Dividend paid to Seaside 88, LP, June 27, 2011																																			(1,918	)							(1,918	)
Common shares issued as Dividend to Seaside 88, LP at $1.10 per share, June 27, 2011																											1,741				2				1,916								1,918
Common shares issued for consulting and legal services valued at $1.22 per share, June 30, 2011																											4,902				5				5,995								6,000
Net loss																																							(6,477,166	)			(6,477,166	)
Balance, June 30, 2011			8,217,500				8,218				10,000				10				-				-				143,548,394				143,582				33,235,990				(23,216,909	)			10,170,891
																																											-
Common shares issued for conversion of Series B Preferred Shares at $1.11 per share, July 11, 2011																											89,986				90												90
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, July 11, 2011											(10,000	)			(10	)																											(10	)
Derivative liability - retirement of Series B Preferred Shares, July 11, 2011																																			17,880								17,880
Dividend to Seaside 88, LP, paid on July 11, 2011																																			(381	)							(381	)
Common shares issued as dividend to Seaside 88, LP at $1.18 per share, July 11, 2011																											345				-				381								381
Series B Preferred Shares issued to SeaSide 88, LP, on July 26, 2011											250,000				250																				2,499,750								2,500,000
Placement Agents fees related to sale of Convertible Preferred shares, July 26, 2011																																			(150,000	)							(150,000	)
Derivative liability - issuance of Series B Preferred Shares																																			(429,768	)							(429,768	)
Legal Fees related to Sale of Convertible Preferred Stock, July 26, 2011																																			(6,250	)							(6,250	)
Common shares issued in conversion of Series B Preferred Shares to common stock at $1.18 per share, July 26, 2011																											377,800				378												378
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, July 26, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, July 26, 2011																																			68,425								68,425
Common shares issued for consulting and legal services valued at $1.26 per share, July 31, 2011																											4,762				5				5,995								6,000
Warrants issued to Scientific Advisory Board, August 15, 2011																																			56,400								56,400
Common shares issued for conversion of Series B Preferred Shares at $0.92 per share, August 8, 2011																											437,187				437												437
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, August 8, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, August 8, 2011																																			69,193								69,193
Dividend to Seaside 88, LP, paid on August 8, 2011																																			(8,055	)							(8,055	)
Common shares issued as Dividend to Seaside 88, LP at $0.98 per share, August 8, 2011																											8,205				8				8,047								8,055
Common shares issued for conversion of Series B Preferred Shares at $0.95 per share, August 23, 2011																											419,829				420												420
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, August 23, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, August 23, 2011																																			69,351								69,351
Dividend paid to Seaside 88, LP, August 23, 2011																																			(6,521	)							(6,521	)
Common shares issued as Dividend to Seaside 88, LP at $0.95 per share, August 23, 2011																											6,844				7				6,514								6,521
Common shares issued for consulting and legal services valued at $1.14 per share, August 31, 2011																											5,263				5				5,995								6,000
Common shares issued for conversion of Series B Preferred Shares at $0.95 per share, September 6, 2011																											422,873				423												423
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, September 6, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Shares, September 6, 2011																																			69,887								69,887
Dividend paid to Seaside 88, LP, September 6, 2011																																			(4,986	)							(4,986	)
Common shares issued as Dividend to Seaside 88, LP at $0.95 per share, September 6, 2011																											5,264				5				4,981								4,986
Common shares issued in conversion of Series B Preferred Shares at $0.94 per share, September 19, 2011																											427,652				428												428
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, September 19, 2011											(40,000	)			(40	)																											(40	)
Derivative liability - retirement of Series B Preferred Share, September 19, 2011																																			69,970								69,970
Dividend to Seaside 88, LP, paid on September 19, 2011																																			(3,452	)							(3,452	)
Common shares issued as Dividend to Seaside 88, LP at $0.94 per share, September 19, 2011																											3,691				3				3,449								3,452
Common shares issued for consulting and legal services valued at $1.07 per share, September 30, 2011																											5,607				6				5,994								6,000
Shares issued in conversion of Series B Preferred Shares to Common Stock at $.78 per share, .001 par value, on October 3, 2011																											514,311				514												514
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on October 3, 2011											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on October 3, 2011																																			69,496								69,496
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.85 on October 3, 2011																											2,270				2				1,916								1,918
Dividend to Seaside 88, LP, paid on October 3, 2011																																			(1,918	)							(1,918	)
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.69 per share, .001 par value, on October 17, 2011																											144,484				144												144
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on October 17, 2011											(10,000	)			(10	)																											(10	)
Derivative Liability - Retirement of Preferred Series B on October 17, 2011																																			17,790								17,790
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.75 on October 17, 2011																											510				1				383								384
Dividend to Seaside 88, LP, paid on October 17, 2011																																			(384	)							(384	)
Shares issued for consulting and legal services rendered at $0..92 per share on October 31, 2011																											6,537				5				5,995								6,000
Series B Preferred Shares issued to SeaSide 88, LP, $.001 par value on November 1, 2011											250,000				250																				2,499,750								2,500,000
Placement Agents Fees related to sale of Convertible Preferred shares on November 1, 2011																																			(160,000	)							(160,000	)
Derivative Liability - Issuance of Preferred Series B																																			(429,804	)							(429,804	)
Legal Fees related to Sale of Convertible Preferred Stock November 1, 2011																																			(25,000	)							(25,000	)
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.78 per share, .001 par value, on November 1, 2011																											511,787				512												512
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on November 2, 2011											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on November 1, 2011																																			68,297								68,297
Warrants issued to Scientific Advisory Board on November 15, 2011																																			56,400								56,400
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.69 per share, .001 par value, on November 15, 2011																											578,595				579												579
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on November 15, 2011											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on November 15, 2011																																			68,411								68,411
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0..73 onNovember 15, 2011																											10,311				10				7,469								7,479
Dividend to Seaside 88, LP, paid on November 15, 2011																																			(7,479	)							(7,479	)
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.62 per share, .001 par value, on November 29, 2011																											642,735				643												643
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on November 29, 2011											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on November 29, 2011																																			68,591								68,591
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.64 on November 29, 2011																											10,139				10				6,511								6,521
Dividend to Seaside 88, LP, paid on November 29, 2011																																			(6,521	)							(6,521	)
Shares issued for consulting and legal services rendered at $0.81 per share on November 30, 2011																											7,373				7				5,993								6,000
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.53 per share, .001 par value, on December 13, 2011																											751,315				751												751
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on December 13, 2011											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on December 13, 2011																																			68,753								68,753
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.57 on December 13, 2011																											8,798				9				4,977								4,986
Dividend to Seaside 88, LP, paid on December 13, 2011																																			(4,986	)							(4,986	)
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.51 per share, .001 par value, on December 27, 2011																											796,785				798												798
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on December 27, 2011											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on December 27, 2011																																			68,965								68,965
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.57 on December 27, 2011																											6,818				7				3,443								3,450
Dividend to Seaside 88, LP, paid on December 27, 2011																																			(3,452	)							(3,452	)
Shares issued for consulting and legal services rendered at $0.64 per share on December 31, 2011																											9,403				9				5,991								6,000
Shares issued in conversion of Series B Preferred Shares to Common Stock at $.51 per share, .001 par value, on January 10, 2012																											788,053				788												788
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on January 10,2012											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on January 10, 2012																																			69,222								69,222
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.51 onJanuary 10, 2012																											3,742				4				1,914								1,918
Dividend to Seaside 88, LP, paid on January 10, 2012																																			(1,918	)							(1,918	)
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.48 per share, .001 par value, on January 24, 2012																											208,546				209												209
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on January 24, 2012											(10,000	)			(10	)																											(10	)
Derivative Liability - Retirement of Preferred Series B on January 24, 2012																																			69,883								69,883
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.49 on January 24, 2012																											786								383								384
Dividend to Seaside 88, LP, paid on January 24, 2012																																			(384	)							(384	)
Shares issued for consulting and legal services rendered at $0.58 per share on January 31, 2012																											10,367				10				5,990								6,000
Series B Preferred Shares issued to SeaSide 88, LP, $.001 par value on February 8, 2012											250,000				250																				2,499,750								2,500,000
Placement Agents Fees related to sale of Convertible Preferred shares on February 8, 2012																																			(150,000	)							(150,000	)
Derivative Liability - Issuance of Preferred Series B																																			(430,283	)							(430,283	)
Legal Fees related to Sale of Convertible Preferred Stock February 8, 2012																																			(6,250	)							(6,250	)
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.56 per share, .001 par value, on February 8, 2012																											717,142				717												717
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on February 8, 2012											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on February 8, 2012																																			68,169								68,169
Warrants issued to Scientific Advisory Board on February 15, 2012																																			51,000								51,000
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.69 per share, .001 par value, on February 22, 2012																											576,062				576												576
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on February 22, 2012											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on February 22, 2012																																			68,424								68,423
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.69 on February 22, 2012																											11,600				12				7,467								7,479
Dividend to Seaside 88, LP, paid on February 22, 2012																																			(7,479	)							(7,479	)
Shares issued for consulting and legal services rendered at $0.77 per share on February 29, 2012																											7,767				8				5,992								6,000
Common shares issued for employee stock compensation at $.73 per share, March 3, 2012																											125,000				125				90,812								90,937
Common shares issued for employee stock compensation at $.73 per share, March 3, 2012																											125,000				125				90,812								90,937
Series A Preferred Shares issued for employee stock compensation, March 3, 2012			250,000				250																												266,869								267,119
Series A Preferred Shares issued for employee stock compensation, March 3, 2012			250,000				250																												266,869								267,119
Series A Preferred Shares issued for employee stock compensation, March 3, 2012			93,750				94																												100,076								100,170
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.64 per share, .001 par value, on March 07, 2012																											628,289				628												628
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on March 7, 2012											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on March 7, 2012																																			68,602								68,602
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.64 on March 7, 2012																											10,242				10				6,511								6,521
Dividend to Seaside 88, LP, paid on March 7, 2012																																			(6,521	)							(6,521	)
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.63 per share, .001 par value, on March 21, 2012																											635,991				636												636
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on March 21, 2012											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on March 21, 2012																																			68,862								68,862
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.64 on March 21, 2012																											7,812				8				4,978								4,986
Dividend to Seaside 88, LP, paid on March 21, 2012																																			(4,986	)							(4,986	)
Shares issued for consulting and legal services rendered at $0.78 per share on March 31, 2012
																											7,728				8				5,992								6,000
Net loss for the nine months ended March 31, 2012																																							(4,563,148	)			(4,563,148	)
			8,811,250				8,812				90,000				90				-				-				153,630,000				153,662				41,189,132				(27,780,057	)			13,571,639
Shares issued in conversion of Series B Preferred Shares to Common Stock at $.61 per share, .001 par value, on April 4, 2012																											661,496				661												661
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on April 4, 2012											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on April 4, 2012																																			69,098								69,098
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.61 on April 4, 2012																											5,709				6				3,446								3,452
Dividend to Seaside 88, LP, paid on April 4, 2012																																			(3,452	)							(3,452	)
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.51 per share, .001 par value, on April 18, 2012																											785,453				785												785
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on April 18, 2012											(40,000	)			(40	)																											(40	)
Derivative Liability - Retirement of Preferred Series B on April 18, 2012																																			69,224								69,224
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.54 on April 18, 2012																											3,579				4				1,914								1,918
Dividend to Seaside 88, LP, paid on April 18, 2012																																			(1,918	)							(1,918	)
Shares issued for consulting and legal services rendered at $0.63 per share on April 30, 2012																											9,547				9				5,990								5,999
Shares issued in conversion of Series B Preferred Shares to Common Stock at $0.50 per share, .001 par value, on May 2, 2012																											198,354				199												199
Retirement of Series B Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on May 2, 2012											(10,000	)			(10	)																											(10	)
Derivative Liability - Retirement of Preferred Series B on May 2, 2012																																			69,892								69,892
Warrants issued to Scientific Advisory Board on May 15, 2012																																			47,400								47,400
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.51 on May 2, 2012																											754				1				383								384
Dividend to Seaside 88, LP, paid on May 2, 2012																																			(384	)							(384	)
Shares issued for consulting and legal services rendered at $0.67 per share on May 31, 2012																											8,962				9				5,991								6,000
Series A Preferred Shares amendment of valuation arising from Amendment of certificate of Designation on June 26, 2012
Series C Preferred Shares issued to SeaSide 88, LP, $.001 par value on June 28, 2012																			2,500				3												2,499,997								2,500,000
Placement Agents Fees related to sale of Convertible Preferred shares on June 28, 2012																																			(150,000	)							(150,000	)
Derivative Liability - Issuance of Preferred Series C																																			(1,090,017	)							(1,090,017	)
Legal Fees related to Sale of Convertible Preferred Stock June 28, 2012																																			(25,000	)							(25,000	)
Sharees of Series A Preferred issued for legal services rendered			10,000				10																												3,277								3,287
Shares issued in conversion of Series C Preferred Shares to Common Stock at $0.49 per share, .001 par value, on June 28, 2012																											298,472				298												298
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on June 28, 2012																			(147	)			(1	)																			(1	)
Derivative Liability - Retirement of Preferred Series C on June 28, 2012																																			63,704								63,704
Series A Preferred Shares issued for employee stock compensation, June 28, 2012			175,000				175																												57,354								57,529
Series A Preferred Shares issued for employee stock compensation, June 28, 2012			500,000				500																												163,867								164,367
Series A Preferred Shares issued for employee stock compensation, June 28, 2012			250,000				250																												81,934								82,184
Series A Preferred Shares issued for employee stock compensation, June 28, 2012			125,000				125																												40,967								41,092
Shares issued for consulting and legal services rendered at $0.61 per share on June 30, 2012																											9,867				10				5,990								6,000
Net loss for the year ended June 30, 2012																																							(1,644,059	)			(1,644,059	)
Balance, June 30, 2012			9,871,250				9,872				-				-				2,353				2				155,612,193				155,644				43,108,789				(29,424,116	)			13,850,191
Shares issued in conversion of Series C Preferred Shares to Common Stock at $.49 per share, .001 par value, on July 12, 2012																											212,398				212												212
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value onJuly 12, 2012																			(103	)			0
Derivative Liability - Retirement of Preferred Series C on July 12, 2012																																			44,190								44,190
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.49 on JULY 12, 2012																											18,397				18				9,008								9,026
Dividend to Seaside 88, LP, paid on July 12, 2012																																			(9,026	)							(9,026	)
Shares issued in conversion of Series C Preferred Shares to Common Stock at $0.47 per share, .001 par value, on July 26, 2012																											271,373				271												271
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on July 26, 2012																			(128	)
Derivative Liability - Retirement of Preferred Series B on July 26, 2012																																			53,032								53,032
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.47 on July 26, 2012																											18,275				18				8,611								8,629
Dividend to Seaside 88, LP, paid on July 26, 2012																																			(8,629	)							(8,629	)
Shares issued for consulting and legal services rendered at $0.55 per share on July 31, 2012																											10,909				11				5,989								6,000
Shares issued in conversion of Series C Preferred Shares to Common Stock at $0.42 per share, .001 par value, on August 8, 2012																											280,944				281												281
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on August 8, 2012																			(118	)
Derivative Liability - Retirement of Preferred Series C on August 8, 2012																																			51,555								51,555
Warrants issued to Scientific Advisory Board on August 15, 2012																																			40,800								40,800
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.43 on August 8, 2012																											18,868				19				8,119								8,138
Dividend to Seaside 88, LP, paid on August 8, 2012																																			(8,138	)							(8,138	)
Shares issued in conversion of Series C Preferred Shares to Common Stock at $0.48 per share, .001 par value, on August 23, 2012																											574,792				575												575
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on August 23, 2012																			(276	)
Derivative Liability - Retirement of Preferred Series C on August 23, 2012																																			121,054								121,054
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.43 on August 23, 2012																											16,006				16				7,668								7,684
Dividend to Seaside 88, LP, paid on August 23, 2012																																			(7,684	)							(7,684	)
Shares issued for consulting and legal services rendered at $0.58 per share on August 31, 2012																											10,345				10				5,990								6,000
Shares issued in conversion of Series C Preferred Shares to Common Stock at $0.58 per share, .001 par value, on September 5, 2012																											763,135				763												763
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on September 5, 2012																			(441	)			(1	)																			(1	)
Derivative Liability - Retirement of Preferred Series C on September 5, 2012																																			236,481								236,481
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.58 on September 5, 2012																											11,478				11				6,614								6,625
Dividend to Seaside 88, LP, paid on September 5, 2012																																			(6,625	)							(6,625	)
Shares issued in conversion of Series C Preferred Shares to Common Stock at $0.52 per share, .001 par value, on September 19, 2012																											553,337				553												553
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on September 19, 2012																			(285	)
Derivative Liability - Retirement of Preferred Series C on September 19, 2012																																			182,575								182,575
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.52 on September 19, 2012																											9,572				10				4,926								4,936
Dividend to Seaside 88, LP, paid on September 19 2012																																			(4,936	)							(4,936	)
Shares issued for consulting and legal services rendered at $0.62 per share on September 30, 2012																											9,677				10				5,990								6,000
Net loss for the Quarter ended September 30, 2012																																							(1,803,955	)			(1,803,955	)
			9,871,250				9,872				-				-				1,002				1				158,391,699				158,422				43,856,353				(31,228,071	)			12,796,577
Shares issued in conversion of Series C Preferred Shares to Common Stock at $.54 per share, .001 par value, on October 3, 2012																											435,842				436												436
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on October 3, 2012																			(233	)			0
Derivative Liability - Retirement of Preferred Series C on October 3, 2012																																			39,945								39,945
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.54 on October 3, 2012																											7,176				7				3,835								3,842
Dividend to Seaside 88, LP, paid on October 3, 2012																																			(3,842	)							(3,842	)
Shares issued in conversion of Series C Preferred Shares to Common Stock at $0.53 per share, .001 par value, on October 17, 2012																											311,521				312												312
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on October 17, 2012																			(165	)
Derivative Liability - Retirement of Preferred Series C on October 3, 2012																																			28,413								28,413
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.53 on October 17, 2012																											5,550				6				2,942								2,948
Dividend to Seaside 88, LP, paid on October 17, 2012																																			(2,948	)							(2,948	)
Shares issued for consulting and legal services rendered at $0.61 per share on October 31, 2012																											16,630				16				9,984								10,000
Shares issued in conversion of Series C Preferred Shares to Common Stock at $0.52 per share, .001 par value, on October 31, 2012																											281,347				281												281
Retirement of Series C Preferred Shares converted into common stock by SeaSide 88, LP, .001 par value on October 31, 2012																			(145	)
Derivative Liability - Retirement of Preferred Series C on October 31, 2012																																			24,955								24,955
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.53 on October 31, 2012																											4,481				5				2,308								2,313
Dividend to Seaside 88, LP, paid on October 31, 2012																																			(2,313	)							(2,313	)
Warrants issued to Scientific Advisory Board on November 15, 2012																																			34,200								34,200
Shares issued as Dividend to Seaside 88, LP, .001 par value common stock at $0.43 on November 14, 2012																											3,823				4				1,752