Quarterly report pursuant to Section 13 or 15(d)

Consolidated Balance Sheets (Unaudited)

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Consolidated Balance Sheets (Unaudited) (USD $)
Jun. 30, 2011
Dec. 31, 2010
CURRENT ASSETS:    
Cash $ 470,440 $ 94,053
Prepaid expenses 76,704 85,542
Debt issuance cost - current portion 3,643 6,249
Total Current Assets 550,787 185,844
Debt issuance cost - long term portion   520
Total Assets 550,787 186,364
CURRENT LIABILITIES:    
Accounts payable and accrued expenses 355,122 215,195
Convertible debentures, net of debt discount 286,103  
Derivitative liabilities 15,064,709 6,708,815
Liabilities of discontinued operations 112,397 155,641
Total Current Liabilities 15,818,331 7,079,651
LONG-TERM LIABILITIES:    
Convertible debentures, net of debt discount   317,292
Total Liabilities 15,818,331 7,396,943
STOCKHOLDERS' DEFICIT    
Preferred stock, $.0001 par value; 10,000,000 authorized (Preferred stock Series A, 3,000,000 issued and outstanding; Preferred stock Series B, none issued and outstanding; Preferred stock Series C, none issued and outstanding; Preferred stock Series D, none issued and outstanding) 300 300
Common stock; $.0001 par value; 750,000,000 shares authorized; 211,833,555 and 170,613,692 shares issued and outstanding, respectively 21,183 17,061
Additional paid-in capital 35,272,074 28,831,876
Accumulated deficit (50,561,101) (36,059,816)
Total Stockholders' Deficit (15,267,544) (7,210,579)
Total Liabilities and Stockholders' Deficit $ 550,787 $ 186,364