FINANCIALS: Statement of Shareholder's Equity (Deficit)
Balance Sheets | Statements of Operations | Statements of Shareholder's Equity (Deficit) | Statements of Cash Flows
| |
Common Stock |
Capital |
Accumulated Deficit |
Total Shareholder's Equity (Deficit) |
Shares |
Value |
Balance, August 22, 2003
(Date of Inception) |
- |
- |
- |
- |
- |
| Stock issued |
4,725,000 |
- |
- |
- |
- |
| Net loss |
- |
- |
- |
(64,975) |
(64,975) |
| |
|
|
|
|
|
| Balance, December 31, 2003 |
4,725,000 |
- |
- |
(64,975) |
(64,975) |
| Noncash compensation |
- |
- |
11,271 |
- |
11,271 |
| Stock issued |
1,970,576 |
|
2,061,064 |
- |
2,061,064 |
| Net loss |
- |
- |
- |
(925,837) |
(925,837) |
| |
|
|
|
|
|
| Balance, December 31, 2004 |
6,695,576 |
- |
2,072,335 |
(990,812) |
1,081,523 |
| Noncash compensation |
- |
- |
280,212 |
- |
280,212 |
Proceeds from private placement
of common stock |
538,694 |
- |
3,005,913 |
- |
3,005,913 |
Net proceeds from issuance
of common stock |
2,225,000 |
- |
21,798,218 |
- |
21,798,218 |
| Stock options exercised |
8,750 |
- |
23,363 |
- |
23,363 |
| Net loss |
- |
- |
- |
(3,700,544) |
(3,700,544) |
| |
|
|
|
|
|
| Balance, December 31, 2005 |
9,468,020 |
- |
27,180,041 |
(4,691,356) |
22,488,685 |
| Noncash compensation |
- |
- |
831,316 |
- |
831,316 |
Expenses from issuance of
common stock |
- |
- |
(36,712) |
- |
(36,712) |
| Stock options exercised |
4,000 |
- |
40 |
- |
40 |
| Net loss |
- |
- |
- |
(9,145,718) |
(9,145,718) |
| |
| Balance, December 31, 2006 |
9,472,020 |
$ - |
$27,956,685 |
$(13,837,074) |
$14,119,611 |
|
