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LIQUIDITY
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12 Months Ended |
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Dec. 31, 2011
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| Liquidity [Abstract] | |
| LIQUIDITY |
NOTE 2 – LIQUIDITY
The accompanying consolidated financial statements have been prepared assuming that we are a going concern. We incurred a net loss in the years ended December 31, 2011 and 2010.
Management believes that our current cash and expected license fees should fund our expected burn rate into the third quarter of 2012. We are a party to a $2.75 million promissory note due on September 13, 2012. While our plan is to extend the due date of this note, if we are unable to do so we may not have sufficient capital to continue our operations. We will require additional funds to continue operations. These funds are expected to come from the future sales of equity and/or license agreements.
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