Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations (USD $)
3 Months Ended 6 Months Ended 336 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
REVENUES          
Grant income         $ 1,424,012
Subcontract income         73,746
Sale of research and development         35,810
[Revenues]         1,533,568
OPERATING EXPENSES          
Professional fees 242,001 323,417 610,194 502,333 10,602,836
Payroll, consulting and related services 515,622 933,475 1,065,555 1,816,078 16,352,268
General and administrative 125,334 152,787 239,687 253,575 7,182,607
Impairment         1,313,253
Total operating expenses 882,957 1,409,679 1,915,436 2,571,986 35,450,964
OPERATING LOSS (882,957) (1,409,679) (1,915,436) (2,571,986) (33,917,396)
OTHER EXPENSE (INCOME)          
Loss on extinguishment of debt       2,226,924 6,606,225
Loss on settlement of accrued interest and damages       68,703 410,687
(Gain)/loss on change in fair value of derivative liability (1,029,675) (1,125,755) (1,521,502) (1,668,877) (6,158,379)
Interest and other debt expenses 600,226 2,165,952 2,286,140 2,752,119 16,156,563
Interest income (31) (8,183) (882) (13,897) (47,718)
Other   300,000 360,185 300,000 626,549
Total other expense (income) (429,480) 1,332,014 1,123,941 3,664,972 17,593,927
NET LOSS $ (453,477) $ (2,741,693) $ (3,039,377) $ (6,236,958) $ (51,511,323)
BASIC AND DILUTED LOSS PER COMMON SHARE (in Dollars per share) $ 0.00 $ (0.04) $ (0.03) $ (0.09)  
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING – BASIC AND DILUTED (in Shares) 99,702,921 68,659,443 93,772,418 66,527,900