BIOMODA INC/NM

CIK:0001058767|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) (USD $)	3 Months Ended		9 Months Ended		273 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
Revenue	$ 0	$ 0	$ 0	$ 0	$ 23
Operating expenses
Professional fees	45,463	22,990	121,301	95,281	1,736,839
General and administrative	209,969	144,748	1,033,221	533,548	8,033,960
Research and development, net of grants received	1,134	13,471	10,050	234,304	3,396,751
Depreciation and amortization	14,570	4,733	29,110	23,011	413,799
Total operating expenses	271,136	185,942	1,193,682	886,144	13,581,349
Loss from operations	(271,136)	(185,942)	(1,193,682)	(886,144)	(13,581,326)
Other income (expense)
Gain on extinguishment of debt					1,326,028
Gain of sale of assets				3,000	39,225
Unrealized gain (loss) on derivative liabilities- warrant instruments	20,000	606,826	22,628	(2,289,651)	2,728,946
Unrealized gain (loss) on derivative liabilities- options		1,848		5,975	24,568
Unrealized loss on derivative liability-note conversion liability		(29,570)		181,017	569,150
Other income					244,479
Interest income				84	4,501
Interest expense	(90,487)	(22,889)	(160,355)	(438,143)	(2,009,393)
Total other income (expense)	(70,487)	556,215	(137,727)	(2,537,718)	2,927,504
Net income (loss) before provision for income taxes	(341,623)	370,273	(1,331,409)	(3,423,862)	(10,653,822)
Provision for income taxes	0	0	0	0	0
Net income (loss)	$ (341,623)	$ 370,273	$ (1,331,409)	$ (3,423,862)	$ (10,653,822)
Basic earnings per common share (in Dollars per share)	$ 0.00	$ 0.00	$ (0.01)	$ (0.03)
Diluted earnings per common share (in Dollars per share)	$ 0.00	$ 0.00	$ (0.01)	$ (0.03)
Basic weighted average number of common shares outstanding (in Shares)	176,188,139	126,378,388	150,853,233	107,572,080
Diluted weighted average number of common shares outstanding (in Shares)	176,188,139	225,846,823	150,853,233	107,572,080

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended		273 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (1,331,409)	$ (3,423,862)	$ (10,653,822)
Adjustments to reconcile net loss to net cash used in operating activities
Stock based compensation	574,245	25,000	4,572,321
Depreciation and amortization	29,110	23,011	413,799
Unrealized gain on derivative liabilities - warrant instruments	(22,628)	2,289,651	(2,728,946)
Unrealized gain on derivative liabilities - options		(5,975)	(24,567)
Unrealized gain on derivative liabilities - note conversion feature		(181,017)	(569,150)
Amortization of debt discount	97,500	390,058	657,500
Amortization of deferred financing costs		15,000	23,740
Write-off of license fee			1,250
Write-off of legal fee	(32,654)		(32,654)
Gain/loss on sale of assets		(3,000)	(4,830)
Foreign currency translation adjustments			3,247
Gain on extinguishment of debt			(1,326,028)
Interest expense incurred on issuance of convertible debt			643,886
Changes in operating assets and liabilities
Accounts receivable		(35,000)	174,222
Prepaid expenses and other current assets	(8,120)	8,615	30,981
Accounts payable and accrued liabilities	381,444	537,126	2,028,032
Net cash used in operating activities	(312,512)	(360,393)	(6,791,019)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from sale of equipment		3,000	6,327
Purchase of equipment			(37,443)
Organizational costs			(560)
Purchases of patents, trademarks and licenses	(84,335)	(37,934)	(650,471)
Net cash used in investing activities	(84,335)	(34,934)	(682,147)
CASH FLOWS FROM FINANCING ACTIVITIES
Issuance of common stock for cash	53,000	144,872	4,296,008
Proceeds/repayments of stockholders' advances	(5,820)	10,125	218,586
Repayment of line of credit from affiliated entity			(341,107)
Proceeds/repayments of short-term debt		1,774	(104,954)
Proceeds/repayments of convertible short-term debt, net	250,000		730,000
Proceeds from line of credit from affiliated company			2,680,882
Proceeds/repayments of long-term debt, net	100,000	(7,254)	8,774
Issuance of Series B Preferred shares	0	0	0
Acquisition of treasury stock			(13,617)
Net cash provided by financing activities	397,180	149,517	7,474,572
NET INCREASE IN CASH	333	(245,810)	1,406
Cash at beginning of period	1,073	248,770
Cash at end of period	1,406	2,960	1,406
Supplemental cash flow information:
Interest expense paid in cash	0	0	0
Income taxes paid in cash	0	0	0
Non-cash investing and financing activities:
Accrued salaries converted to notes payable			479,484
Accrued salaries converted to preferred stock		60,000	65,504
Derivative liability incurred through issuance of warrants			3,370,622
Settlement of derivative liabilities	631		1,182,372
Interest converted to note payable	56,901		216,363
Common stock issued to extinguish related party debt			1,468,768
Discount on note payable related to deferred financing costs			60,000
Discount on note payable related to derivative conversion feature	97,500		597,500
Conversion of notes payable and accrued interest to common stock		597,519	597,519
Derivative liability settled with warrant exercise		265,101	94,235
Derivative liability settled with note conversion		560,572	495,864
Fixed asset used to settle accounts payable	$ 2,157		$ 2,157

CONSOLIDATED BALANCE SHEET (USD $)	Sep. 30, 2012	Dec. 31, 2011
CURRENT ASSETS
Cash	$ 1,406	$ 1,073
Prepaid expenses	10,141	1,271
TOTAL CURRENT ASSETS	11,547	2,344
Deferred charges		750
Fixed assets, net of accumulated depreciation of $27,151 and $17,460, respectively		10,080
Patents and trademarks, net of accumulated amortization of $378,199 and $357,013, respectively	255,273	192,126
TOTAL ASSETS	266,820	205,300
CURRENT LIABILITIES
Accounts payable	572,946	506,323
Stock payable	44,500
Accrued liabilities	627,851	404,744
Advances from stockholders	268,119	263,815
Short-term debt	182,150	180,373
TOTAL CURRENT LIABILITIES	1,695,566	1,355,255
LONG-TERM DEBT
Note payable	395,000
Derivative liabilities - warrant instruments	9,472	32,731
TOTAL LIABILITIES	2,100,038	1,387,986
COMMITMENTS AND CONTINGENCIES	0	0
STOCKHOLDERS' DEFICIT
Common stock, no par value, 700,000,000 share authorized; 176,363,963 and 130,314,363 issued and 175,972,388 and 129,922,788 outstanding, respectively	8,761,836	8,080,960
Treasury stock, at cost 391,575	(1,233)	(1,233)
Deficit accumulated during development stage	(10,653,822)	(9,322,413)
Total stockholders' deficit	(1,833,219)	(1,182,686)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	266,820	205,300
Preferred Class A [Member]
STOCKHOLDERS' DEFICIT
Preferred Stock, value	0	0
Preferred Stock [Member]
STOCKHOLDERS' DEFICIT
Preferred Stock, value	0	0
Preferred Class B [Member]
STOCKHOLDERS' DEFICIT
Preferred Stock, value	$ 60,000	$ 60,000