Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations (Unaudited)

v3.2.0.727
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2015
Operating expenses      
Operations and development costs $ 17,802 $ 421,602 $ 635,193
Business development and management costs 22,035 640,305 1,111,927
Total operating expenses 39,837 1,061,907 1,747,120
Loss from operations $ (39,837) (1,061,907) (1,747,120)
Other expenses (income)      
Interest expense   317,505 634,039
Increase in fair value of derivative liabilities   1,603,239 (5,499,318)
Interest income   (1,011) (2,456)
Other income   (63) (194)
Total other expenses, net   1,919,670 6,130,707
Loss before income tax expense $ (39,837) $ (2,981,577) (7,877,827)
Income tax expense     2,400
Net loss $ (39,837) $ (2,981,577) $ (7,880,227)
Weighted average shares outstanding, basic and diluted (in shares) 4,363,641 4,363,641 4,363,641
Basic and diluted net loss per common share (in dollars per share) $ (0.01) $ (0.68) $ (1.81)