Annual report pursuant to Section 13 and 15(d)

BALANCE SHEETS

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BALANCE SHEETS (USD $)
Dec. 31, 2012
Dec. 31, 2011
Cash $ 6,002 $ 1,657
Accounts receivable, net 1,074,552 528,769
Prepaid expenses 24,317 4,195
Total assets 1,104,871 534,621
Property and equipment, net 5,342 6,510
Licensing agreement 3,970,575 3,970,575
Deposits 2,278 2,278
TOTAL CURRENT ASSETS 5,083,066 4,513,984
Accounts payable and accrued expenses 615,304 631,461
Due to factor 154,990 200,956
Income Taxes payable 1,600   
Deferred revenue 262,938   
Advances from lenders 885,000   
Convertible note payable, net of debt discount 5,708   
Notes payable, net of debt discount 95,736   
Notes payable, related party 144,815 191,892
Derivative liability 80,039   
TOTAL CURRENT LIABILITIES 2,246,130 1,024,309
Common stock, $0.001 par value; 200,000,000 shares authorized, 100,768,501 and 100,768,501 shares issued and outstanding as of December 31, 2012 and 2011, respectively 100,769 118,142
Common stock subscribed 100,000 100,000
Additional Paid in Capital 4,234,758 3,984,317
Deficit (1,598,591) (712,784)
TOTAL STOCKHOLDERS' EQUITY/(DEFICIT) 2,836,936 3,489,675
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT) $ 5,083,066 $ 4,513,984