ACRONGENOMICS INC
CIK:0001104502|SEC Filings
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STATEMENTS OF OPERATIONS (USD $)
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3 Months Ended | 6 Months Ended | 142 Months Ended | ||
|---|---|---|---|---|---|
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Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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Jun. 30, 2010
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Jun. 30, 2011
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| Expenses | |||||
| Accounting and audit fees | $ 128,327 | $ 67,409 | $ 179,739 | $ 116,374 | $ 1,078,304 |
| Amortization of patents | 1,200 | 0 | 2,400 | 0 | 743,830 |
| Appraisals | 0 | 0 | 0 | 0 | 14,500 |
| Bank charges | 493 | 461 | 664 | 763 | 20,683 |
| Consulting fees | 12,205 | 64,500 | 92,966 | 129,674 | 3,469,647 |
| In-process research and development | 0 | 0 | 0 | 0 | 1,349,225 |
| Investor relations | 0 | 0 | 0 | 0 | 602,020 |
| Legal fees | 14,875 | 2,803 | 23,486 | 2,803 | 475,572 |
| Management fees | 0 | 0 | 0 | 0 | 3,326,506 |
| Office and miscellaneous | 0 | 486 | 0 | 1,151 | 142,091 |
| Rent | 0 | 15,455 | 0 | 30,743 | 171,337 |
| Research and development | 0 | 0 | 0 | 0 | 9,202,266 |
| Transfer agent and filing fees | 1,172 | 2,580 | 5,188 | 2,580 | 52,220 |
| Travel | 1,300 | 0 | 1,300 | 0 | 457,887 |
| Write-down of patents | 0 | 0 | 0 | 0 | 8,004,447 |
| Loss before other income (expenses) | (159,572) | (153,694) | (305,743) | (284,088) | (29,110,535) |
| Interest income | 0 | 0 | 0 | 0 | 23,150 |
| Interest, fees and accretion on notes payable | (81,808) | (15,058) | (162,927) | (29,746) | (851,566) |
| Change in fair value of derivative liability | 0 | 85,163 | 0 | 0 | 169,452 |
| Write-down of investment in Molecular Vision | 0 | 0 | 0 | 0 | (1,066,730) |
| Foreign exchange gain (loss) | 2,179 | 29,160 | (19,773) | 9,425 | (138,281) |
| Loss from continuing operations | (239,201) | (54,429) | (488,443) | (304,409) | (30,974,510) |
| Loss from discontinued operations | 0 | 0 | 0 | 0 | (41,998) |
| Net loss for the period | $ (239,201) | $ (54,429) | $ (488,443) | $ (304,409) | $ (31,016,508) |
| Basic and diluted loss per share | $ (0.01) | $ 0.00 | $ (0.02) | $ (0.01) | |
| Weighted average number of shares outstanding | 28,155,184 | 25,690,203 | 27,988,591 | 25,635,343 | |
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Non-cash Transaction
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6 Months Ended | ||
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Jun. 30, 2011
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| Non-cash Transaction [Text Block] |
Investing and financing activities that do not have a direct impact on current cash flows are excluded from the interim statement of cash flows. During the six months ended June 30, 2011, the Company issued 75,000 units having a fair value of $12,625 in respect of payment of services. |
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INTERIM BALANCE SHEETS (USD $)
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Jun. 30, 2011
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Dec. 31, 2010
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|---|---|---|
| Current | ||
| Cash | $ 60,813 | $ 6,615 |
| Patent and other intangible assets | 47,337 | 49,737 |
| Investment in Molecular Vision | 1 | 1 |
| Total Assets | 108,151 | 56,353 |
| Current | ||
| Accounts payable and accrued liabilities | 1,349,823 | 1,124,731 |
| Convertible promissory notes payable | 760,493 | 690,913 |
| Loans payable | 48,253 | 60,758 |
| Total Current Liabilities | 2,158,569 | 1,876,402 |
| Convertible promissory note payable | 1,480,577 | 1,394,969 |
| Total Liabilities | 3,639,146 | 3,271,371 |
| CAPITAL DEFICIT | ||
| Capital stock Authorized: 100,000,000 common shares, par value $0.001 per share Issued and outstanding: 28,858,481 common shares (December 31, 2010 - 27,783,481) | 28,858 | 27,783 |
| Additional paid-in capital | 27,406,655 | 27,285,264 |
| Share subscription | 50,000 | 0 |
| Deficit accumulated during the development stage | (31,016,508) | (30,528,065) |
| Total Stockholders Equity | (3,530,995) | (3,215,018) |
| Total Liabilities and Stockholders Equity | $ 108,151 | $ 56,353 |