Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Mar. 31, 2012
Sep. 30, 2011
ASSETS    
Cash $ 169,600 $ 93,400
Accounts receivable (net of allowance for doubtful accounts of $22,500 (unaudited) as of March 31, 2012 and $19,900 September 30, 2011 respectively) 38,800 54,400
Prepaids and other receivables 113,400 72,100
Deferred offering costs 324,000 103,000
Total current assets 645,800 322,900
Furniture & equipment 28,600 32,700
Other assets 30,500 14,400
TOTAL ASSETS 704,900 370,000
LIABILITIES AND STOCKHOLDERS' DEFICIENCY    
Accounts payable (including amounts due to related parties of $181,100 (unaudited) as of March 31, 2012 and $156,000 as of September 30, 2011) 2,263,700 1,778,900
Accrued liabilities 222,400 196,700
Accrued compensation (including $195,700 (unaudited) and $189,200 to related parties as of March 31, 2012 and September 30, 2011 respectively) 287,700 285,900
Accrued consulting fees (including $63,000 (unaudited) and $45,000 to related parties as of March 31, 2012 and September 30, 2011 respectively) 83,100 65,000
Accrued interest 689,700 384,500
Derivative liability 12,972,700 4,801,200
Senior secured convertible promissory notes-related party (net of discounts $0 (unaudited) and $155,700 as of March 31, 2012 and September 30, 2011 respectively) 3,023,900 2,868,200
Subordinated secured convertible promissory notes-related party (net of discounts $66,600 (unaudited) and $1,105,200 as of March 31, 2012 and September 30, 2011 respectively) 2,433,400 1,394,800
Subordinated secured convertible promissory notes-related party (net of discounts $1,416,700 (unaudited) and $0 as of March 31, 2012 and September 30, 2011 respectively) 583,300 0
Unsecured convertible promissory notes-related party (net of discounts $82,500 (unaudited) and $0 as of March 31, 2012 and September 30, 2011 respectively) 7,500 0
Current portion of long-term debt 6,200 6,100
Total current liabilities 22,573,600 11,781,300
LONG-TERM LIABILITIES    
Capital lease 7,200 10,200
Total long-term liabilities 7,200 10,200
TOTAL LIABILITIES 22,580,800 11,791,500
COMMITMENTS AND CONTINGENCIES      
STOCKHOLDERS' DEFICIENCY    
Common stock, $0.001 par value; authorized 100,000,000 shares; 1,874,175 and 1,871,352 shares issued and outstanding as of March 31, 2012 and September 30, 2011 respectively 1,900 1,900
Additional paid-in capital 31,484,400 30,813,100
Accumulated deficit (53,362,200) (42,236,500)
Total stockholders' deficiency (21,875,900) (11,421,500)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIENCY $ 704,900 $ 370,000