Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
ASSETS    
Cash $ 475,019 $ 1,655,122
Money market funds 6,135 6,134
Advances on research and development contract services 33,880 51,575
Prepaid expenses and other current assets 43,006 40,179
Total current assets 558,040 1,753,010
Total assets 558,040 1,753,010
LIABILITIES AND STOCKHOLDERS' EQUITY    
Accounts payable and accrued expenses 107,774 80,416
Research and development contract liabilities, including $34,398 and $9,679 to a related party at December 31, 2013 and 2012, respectively 47,283 14,019
Liquidated damages payable under registration rights agreement 74,000 74,000
Due to stockholder 92,717 92,717
Total current liabilities 321,774 261,152
Commitments and contingencies      
Stockholders' equity:    
Preferred stock, $0.0001 par value; authorized - 10,000,000 shares; issued - none 0 0
Common stock, $0.0001 par value; authorized - 100,000,000 shares; issued and outstanding - 41,583,097 shares 4,158 4,158
Additional paid-in capital 13,184,081 13,064,831
Deficit accumulated during the development stage (12,951,973) (11,577,131)
Total stockholders' equity 236,266 1,491,858
Total liabilities and stockholders' equity $ 558,040 $ 1,753,010