General form of registration statement for all companies including face-amount certificate companies

STATEMENTS OF OPERATIONS

v2.3.0.15
STATEMENTS OF OPERATIONS (USD $)
 9 Months Ended 12 Months Ended 99 Months Ended 3 Months Ended 12 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Dec. 31, 2010
Dec. 31, 2009
Dec. 31, 2010
Mar. 31, 2011
Pre Acquisition
Mar. 31, 2010
Pre Acquisition
Dec. 31, 2010
Pre Acquisition
Dec. 31, 2009
Pre Acquisition
REVENUE           $ 8,333 $ 8,333 $ 33,334 $ 33,334
COSTS AND EXPENSES:                  
Research and development 2,445,429 2,616,834 2,984,207 4,351,983 17,205,959 532,686 1,910,889 2,997,984 8,080,242
General and administrative 1,827,510 1,014,094 1,156,549 1,824,302 6,970,179 611,877 644,763 2,486,032 2,182,253
Merger costs 746,207   52,925   52,925        
Total costs and expenses 5,019,146 3,630,928 4,193,681 6,176,285 24,229,063 1,144,563 2,555,652 5,484,016 10,262,495
LOSS FROM OPERATIONS (5,019,146) (3,630,928) (4,193,681) (6,176,285) (24,229,063) (1,136,230) (2,547,319) (5,450,682) (10,229,161)
OTHER INCOME (EXPENSE):                  
Interest income           668   2,421 1,013
Grant income 44,479   200,000   200,000     244,479 62,980
(Gain) loss on derivative warrants (66,820)         125,490 7,897,441 8,118,174 (12,114,371)
Liquidated damages (see Note 6)               (819,000)  
Interest expense, net (428,015) (467,495) (566,156) (43,588) (17,102)        
Miscellaneous                 6,233
Other income     (426)   1,161        
Total other income (expense) (450,356) (467,495) (366,582) (43,588) 184,059 126,158 7,897,441 7,546,074 (12,044,145)
NET INCOME (LOSS) (5,469,502) (4,098,423) (4,560,263) (6,219,873) (24,045,004) (1,010,072) 5,350,122 2,095,392 (22,273,306)
PREFERRED STOCK DIVIDENDS             (656,635) (2,207,827) (3,296,289)
PREFERRED STOCK DEEMED DIVIDENDS               (12,541,201) (714,031)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS           $ (1,010,072) $ 4,693,487 $ (12,653,636) $ (26,283,626)
BASIC AND DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE $ (0.25) $ (0.32) $ (0.36) $ (0.49) $ (2.53)     $ (15.36) $ (80.57)
BASIC NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE           $ (0.34) $ 8.99    
SHARES USED IN COMPUTING BASIC AND DILUTED NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE 21,847,984 12,820,102 12,820,102 12,820,102 9,513,115     823,933 326,209
SHARES USED IN COMPUTING BASIC NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE           2,959,871 522,350    
DILUTED NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE           $ (0.34) $ 3.41    
SHARES USED IN COMPUTING DILUTED NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS PER COMMON SHARE           2,959,871 881,861