Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)
Jun. 30, 2013
Dec. 31, 2012
Current assets:    
Cash $ 54,705 $ 6,002
Accounts receivable, net 1,635,399 1,074,552
Prepaid expenses 149,567 24,317
Total current assets 1,839,671 1,104,871
Property and equipment, net 10,516 5,342
Other assets:    
Licensing agreement 3,970,575 3,970,575
Deposits 5,334 2,278
Total assets 5,826,096 5,083,066
Current liabilities:    
Accounts payable and accrued expenses 758,313 615,304
Due to factor 38,405 154,990
Income Taxes payable    1,600
Deferred revenue 537,909 262,938
Advances from lenders 485,000 885,000
Convertible note payable, net of debt discount 346,499 5,708
Notes payable, net of debt discount 336,301 95,736
Notes payable, related party 101,362 144,815
Warrant liability 15,174   
Derivative liability 324,400 80,039
Total current liabilities 2,943,363 2,246,130
Stockholders' equity:    
Common stock, $0.001 par value; 200,000,000 shares authorized, 117,743,501 and 100,768,501 shares issued and outstanding as of June 30, 2013 and December 31, 2012, respectively 117,744 100,769
Common stock subscribed 100,000 100,000
Additional Paid in Capital 4,473,160 4,234,758
Deficit (1,808,171) (1,598,591)
Total stockholders' equity 2,882,733 2,836,936
Total liabilities and stockholders' equity $ 5,826,096 $ 5,083,066