Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited)

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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current assets:    
Cash $ 1,766 $ 6,002
Accounts receivable, net 1,826,399 1,074,552
Prepaid expenses 112,944 24,317
Total current assets 1,941,109 1,104,871
Property and equipment, net 9,680 5,342
Other assets:    
Licensing agreement 3,970,575 3,970,575
Deposits 5,334 2,278
Total assets 5,926,698 5,083,066
Current liabilities:    
Accounts payable and accrued expenses 971,060 615,304
Due to factor    154,990
Income Taxes payable    1,600
Deferred revenue 591,500 262,938
Advances from lenders 485,000 885,000
Convertible note payable, net of debt discount 353,650 5,708
Notes payable, net of debt discount 301,534 95,736
Notes payable, related party 123,562 144,815
Warrant liability 10,468   
Derivative liability 217,869 80,039
Total current liabilities 3,054,643 2,246,130
Stockholders' equity:    
Common stock, $0.001 par value; 200,000,000 shares authorized, 117,868,501 and 100,768,501 shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively 117,869 100,769
Common stock subscribed 100,000 100,000
Additional Paid in Capital 4,591,393 4,234,758
Deficit (1,937,207) (1,598,591)
Total stockholders' equity 2,872,055 2,836,936
Total liabilities and stockholders' equity $ 5,926,698 $ 5,083,066