Quarterly report pursuant to Section 13 or 15(d)

Interim Consolidated Statements of Operations and Comprehensive Loss (Unaudited)

v2.4.0.6
Interim Consolidated Statements of Operations and Comprehensive Loss (Unaudited) (USD $)
3 Months Ended 6 Months Ended 102 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
General and administrative expenses:          
Amortization             $ 27,077
Bad debt             525
Corporate promotion             13,920
Finance charges             27,397
Insurance             15,901
Interest 6,183    6,183    40,831
Management and consultant fees    2,250    2,250 314,374
Office supplies and services 6,774 500 31,662 1,000 107,279
Professional fees 35,423 4,000 39,913 5,500 407,169
Rent 4,985    11,245    71,232
Wages 64,753    130,268    949,428
Other expenses             2,798,586
Loss before other items (118,118) (6,750) (219,271) (8,750) (4,773,719)
Other items:          
Loss on disposition of equipment             (15,028)
Write-down of intangible assets             (50,001)
Write-off of payables             73,607
Write-off of notes payable             14,823
Gain on settlement of lawsuit             44,445
Gain on sale of investment          0 31,874
Other income 19    26    42,570
Income (loss) from continuing operations (118,099) (6,750) (219,245) (8,750) (4,631,429)
Operating loss from discontinued operations             (388,905)
Gain on sales of discontinued operations             108,210
Foreign currency translation adjustment (19)    (50)    (50)
Net loss and Comprehensive loss $ (118,118) $ (6,750) $ (219,295) $ (8,750) $ (4,912,174)
Loss per common share- Basic and diluted $ (0.006) $ (0.007) $ (0.012) $ (0.009)  
Weighted average number of common share outstanding - basic and diluted 19,482,084 995,655 18,813,624 995,655